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SUBSEQUENT EVENTS | 9 Months Ended
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May 31, 2018
SUBSEQUENT EVENTS [Abstract] |
SUBSEQUENT EVENTS | NOTE 10 – SUBSEQUENT EVENTS ﻿ The Company has evaluated all events subsequent to the balance sheet date of May 31, 2018, through the date of issuance of these consolidated financial statements and has determined that, except as set forth below, there are no subsequent events that require disclosure. ﻿ Other Commitments ﻿ In June 2018, the Company entered into a lease extension contract in Honduras, which will increase its future minimum lease commitments by approximately $31.6 million. The original lease was due to expire on May 30, 2020. ﻿ ﻿
﻿ |  |  |
﻿Years Ended May 31, |  |  |
﻿2019 |  | $ | —
﻿2020 |  |  | —
﻿2021 |  |  | 1,250
﻿2022 |  |  | 1,250
﻿2023 |  |  | 1,250
﻿Thereafter |  |  | 27,813
﻿Total |  | $ | 31,563
﻿ Financing Transactions ﻿ On June 15, 2018, the Company entered into a five-year interest rate swap with Scotiabank in which the Company will receive interest based on the three-month LIBOR rate plus 3.00% on a quarterly amortizing initial notional value of U.S. $14.6 million and pay fixed interest of approximately 6.0% on a quarterly amortizing initial notional value of $14.6 million. The derivative instrument requires 57 monthly net settlements of interest. ﻿ ﻿ ﻿

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
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