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DEBT | 3 Months Ended
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Nov. 30, 2016
DEBT [Abstract] |
DEBT | NOTE 8 – DEBT ﻿ Short-term borrowings consist of lines of credit that are secured by certain assets of the Company and its subsidiaries and that in some cases are guaranteed by the Company. The following table summarizes the balances of total facilities, facilities used and facilities available (in thousands): ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  | Facilities Used |  |  |  |  |  |  |
﻿ |  | Total Amount |  | Short-term |  | Letters of |  | Facilities |  | Weighted average |
﻿ |  | of Facilities |  | Borrowings |  | Credit |  | Available |  | interest rate |
﻿November 30, 2016 |  | $ | 67,000 |  | $ | 12,211 |  | $ | 8,975 |  | $ | 44,988 |  | 10.3 |  | %
﻿August 31, 2016 |  | $ | 65,000 |  | $ | 16,534 |  | $ | 9,224 |  | $ | 39,242 |  | 10.1 |  | %
﻿ As of November 30, 2016 and August 31, 2016, the Company had approximately $40.0 million of short-term facilities in the U.S. that require compliance with certain quarterly financial covenants. As of November 30, 2016 and August 31, 2016, the Company was in compliance with respect to these covenants. E ach of the facilities expires annually and is normally renewed. ﻿ ﻿ The following table provides the changes in long-term debt for the three months ended November 30, 2016: ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |  |
﻿(Amounts in thousands) |  | Current portion of long-term debt |  | Long-term debt (net of current portion) |  | Total |
﻿Balances as of August 31, 2016 |  | $ | 14,565 |  | $ | 73,542 |  | $ | 88,107 | (1)
﻿Regularly scheduled loan payments |  |  |  |  |  | (3,688) |  |  | (3,688) |
﻿Translation adjustments on foreign-currency debt of subsidiaries whose functional currency is not the U.S. dollar (2) |  |  | 99 |  |  | (66) |  |  | 33 |
﻿Balances as of November 30, 2016 |  | $ | 14,664 |  | $ | 69,788 |  | $ | 84,452 | (3)
﻿
| (1) |  | The carrying amount on non-cash assets assigned as collateral for this total was $102.4 million. No cash assets were assigned as collateral for this total.
| (2) |  | These foreign currency translation adjustments are recorded within Other comprehensive income.
| (3) |  | The carrying amount on non-cash assets assigned as collateral for this total was $97.9 million. No cash assets were assigned as collateral for this total.
﻿ As of November 30, 2016, the Company had approximately $73.0 million of long-term loans in Trinidad, Panama, El Salvador, Honduras, Costa Rica, Barbados and Colombia that require these subsidiaries to comply with certain annual or quarterly financial covenants, which include debt service and leverage ratios. As of November 30, 2016, the Company was in compliance with all covenants or amended covenants. ﻿ As of August 31, 2016, the Company had approximately $76.0 million of long-term loans in Trinidad, Panama, El Salvador, Honduras, Costa Rica, Barbados, and Colombia that require these subsidiaries to comply with certain annual or quarterly financial covenants, which include debt service and leverage ratios. As of August 31, 2016, the Company was in compliance with all covenants or amended covenants. ﻿ Annual maturities of long-term debt are as follows (in thousands): ﻿ ﻿
﻿ |  |  |
﻿ |  |  |
﻿Twelve Months Ended November 30, |  | Amount
﻿2017 |  | $ | 14,084
﻿2018 |  |  | 13,657
﻿2019 |  |  | 23,471
﻿2020 |  |  | 22,902
﻿2021 |  |  | 4,433
﻿Thereafter |  |  | 1,854
﻿Total (1) |  | $ | 80,401
﻿
| (1) |  | In the case of loans subject to cross-currency interest rate swaps, the Company has used the effective rate to the Company under the applicable derivative obligation as of November 30, 2016 to disclose the future commitments of the related long-term debt.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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