ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

12 Months Ended

Aug. 31, 2024

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

NOTE 3. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Accumulated other comprehensive income (loss) ("AOCI") was comprised of the following:


(in thousands)	Foreign Currency Translation		Derivatives		Defined Benefit Pension Plans		Total AOCI
Balance, September 1, 2021	$	(105,680)	$	21,781	$	(921)	$	(84,820)
Other comprehensive income (loss) before reclassifications(1)	(140,217)		138,634		(5,875)		(7,458)
Reclassification for gain(2)	—		(22,173)		—		(22,173)
Net other comprehensive income (loss)	(140,217)		116,461		(5,875)		(29,631)
Balance at August 31, 2022	(245,897)		138,242		(6,796)		(114,451)
Other comprehensive income (loss) before reclassifications(1)	119,852		6,395		(7,985)		118,262
Reclassification for (gain) loss(2)	—		(9,380)		1,791		(7,589)
Net other comprehensive income (loss)	119,852		(2,985)		(6,194)		110,673
Balance at August 31, 2023	(126,045)		135,257		(12,990)		(3,778)
Other comprehensive income (loss) before reclassifications(1)	49,191		(129,678)		708		(79,779)
Reclassification for gain and other(2)(3)	—		(1,965)		(430)		(2,395)
Net other comprehensive income (loss)	49,191		(131,643)		278		(82,174)
Balance at August 31, 2024	$	(76,854)	$	3,614	$	(12,712)	$	(85,952)

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(1) Other comprehensive income (loss) ("OCI") before reclassifications from derivatives is presented net of income tax benefit (expense) of $30.6 million, $(1.1) million and $(33.0) million for 2024, 2023 and 2022, respectively. OCI before reclassifications from defined benefit pension plans is presented net of an immaterial income tax impact for 2024 and net of income tax benefit of $3.9 million and $2.6 million for 2023 and 2022, respectively.

(2) Reclassifications for gains from derivatives included in net earnings are primarily recorded in cost of goods sold in the consolidated statements of earnings and are presented net of an immaterial income tax impact for 2024 and net of income tax expense of $2.2 million and $5.3 million for 2023 and 2022, respectively.

(3) Reclassification from defined benefit pension plans include settlement losses and other items such as amortization of unrecognized gains or losses that are recorded in SG&A expenses in the consolidated statements of earnings and are presented net of immaterial income tax impacts for all periods presented.