XML 56 R31.htm IDEA: XBRL DOCUMENT v3.25.2
FAIR VALUE (Tables)
 9 Months Ended
May 31, 2025
Fair Value Disclosures [Abstract]  
Financial assets and financial liabilities measured at fair value on a recurring basis The following table summarizes information regarding the Company's financial assets and financial liabilities that were measured at fair value on a recurring basis:
  Fair Value Measurements at Reporting Date Using
(in thousands)TotalLevel 1Level 2Level 3
As of May 31, 2025:
Assets:
Investment deposit accounts(1)
$772,026 $772,026 $— $— 
Commodity derivative assets70,312 3,324 — 66,988 
Foreign exchange derivative assets1,428 — 1,428 — 
Liabilities:
Commodity derivative liabilities168 168 — — 
Foreign exchange derivative liabilities1,336 — 1,336 — 
As of August 31, 2024:
Assets:
Investment deposit accounts(1)
$718,110 $718,110 $— $— 
Commodity derivative assets40,225 2,196 — 38,029 
Foreign exchange derivative assets419 — 419 — 
Liabilities:
Commodity derivative liabilities3,602 3,602 — — 
Foreign exchange derivative liabilities1,885 — 1,885 — 
__________________________________
(1) Investment deposit accounts are short-term in nature, and their value is based on principal plus interest.
The following table summarizes the range of floating rates used to measure the fair value of the Level 3 commodity derivatives as of May 31, 2025 and August 31, 2024, which are applied uniformly across each of the Company's Level 3 commodity derivatives:
Floating rate (PLN)
LowHighAverage
May 31, 2025369 563 453 
August 31, 2024324 510 405 
Fair value, net derivative asset (liability) measured on recurring basis, unobservable input reconciliation
Below is a reconciliation of the beginning and ending balances of the Level 3 commodity derivatives recognized in the condensed consolidated statements of comprehensive income (loss). Amounts presented are before income taxes. The fluctuation in energy rates over time may cause volatility in the fair value estimate and was the primary reason for unrealized gains and losses in OCI for the three and nine months ended May 31, 2025 and 2024.                                     
(in thousands)Three Months Ended May 31, 2025
Balance, March 1, 2025$55,358 
Unrealized holding gain before reclassification(1)
13,252 
Reclassification for gain included in net earnings(2)
(1,622)
Balance, May 31, 2025$66,988 
(in thousands)Nine Months Ended May 31, 2025
Balance, September 1, 2024$38,029 
Unrealized holding gain before reclassification(1)
37,043 
Reclassification for gain included in net loss(2)
(8,084)
Balance, May 31, 2025$66,988 
(in thousands)Three Months Ended May 31, 2024
Balance, March 1, 2024$86,317 
Unrealized holding loss before reclassification(1)
(35,907)
Reclassification for gain included in net earnings(2)
(1,298)
Balance, May 31, 2024$49,112 
(in thousands)Nine Months Ended May 31, 2024
Balance, September 1, 2023$194,425 
Unrealized holding loss before reclassification(1)
(139,665)
Reclassification for gain included in net earnings(2)
(5,648)
Balance, May 31, 2024$49,112 
__________________________________
(1) Unrealized holding gains (losses), net of foreign currency translation, less amounts reclassified, are included in net unrealized holding gain (loss) on derivatives in the condensed consolidated statements of comprehensive income (loss).
(2) Realized gains included in net earnings (loss) are recorded in cost of goods sold in the condensed consolidated statements of earnings (loss).