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CREDIT ARRANGEMENTS
 6 Months Ended
Feb. 28, 2025
Debt Disclosure [Abstract]  
Credit arrangements
NOTE 7. CREDIT ARRANGEMENTS

Long-term debt was as follows: 
(in thousands)Weighted Average Interest Rate as of February 28, 2025February 28, 2025August 31, 2024
2030 Notes4.125%$300,000 $300,000 
2031 Notes3.875%300,000 300,000 
2032 Notes4.375%300,000 300,000 
Series 2022 Bonds, due 20474.000%145,060 145,060 
Other5.100%11,910 11,910 
Finance leases5.252%145,631 141,271 
Total debt1,202,601 1,198,241 
Less unamortized debt issuance costs(12,189)(13,073)
Plus unamortized bond premium4,358 4,453 
Total amounts outstanding1,194,770 1,189,621 
Less current maturities of long-term debt(40,043)(38,786)
Long-term debt$1,154,727 $1,150,835 

The Company's credit arrangements require compliance with certain covenants, including an interest coverage ratio and a debt to capitalization ratio. At February 28, 2025, the Company was in compliance with all financial covenants in its credit arrangements.
Capitalized interest was $2.4 million and $4.5 million during the three and six months ended February 28, 2025, respectively, compared to $1.2 million and $2.4 million, respectively, during the corresponding periods.

Credit Facilities

On October 30, 2024, the Company entered into the First Amendment to the Sixth Amended and Restated Credit Agreement (as amended, the "Credit Agreement"), which, among other things, extended the maturity date of the Credit Agreement from October 26, 2027 to October 26, 2029. The Credit Agreement provides for a $600.0 million revolving credit facility (the "Revolver"). The Company had no amounts drawn under the Revolver at February 28, 2025 or August 31, 2024. The availability under the Revolver was reduced by outstanding stand-by letters of credit totaling $1.0 million and $0.9 million at February 28, 2025 and August 31, 2024, respectively.

The Company also has credit facilities in Poland through its subsidiary, CMC Poland Sp. z.o.o. ("CMCP"). At February 28, 2025 and August 31, 2024, CMCP's credit facilities totaled PLN 600.0 million, or $148.5 million and $154.8 million, respectively. There were no amounts outstanding under these facilities as of February 28, 2025 or August 31, 2024. The available balance of these credit facilities was reduced by outstanding stand-by letters of credit, guarantees and/or other financial assurance instruments, which totaled $2.0 million and $2.4 million at February 28, 2025 and August 31, 2024, respectively.

Accounts Receivable Facility
The Poland accounts receivable facility had a limit of PLN 288.0 million, or $71.3 million and $74.3 million, at February 28, 2025 and August 31, 2024, respectively. The Company had no advance payments outstanding under the Poland accounts receivable facility at February 28, 2025 or August 31, 2024.