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INCOME TAXES (Tables)

12 Months Ended

Aug. 31, 2019

INCOME TAXES [Abstract]

Income from Continuing Operations Before Provision for Income Taxes and Loss of Unconsolidated Affiliates


		Years Ended August 31,
		2019			2018			2017
United States		$	25,167		$	19,723		$	24,773
Foreign			85,943			102,865			107,970
Income from continuing operations before provision for income taxes and loss of unconsolidated affiliates		$	111,110		$	122,588		$	132,743



Significant Components of Income Tax Provision


		Years Ended August 31,
		2019			2018			2017
Current:
U.S. tax expense (benefit)		$	10,878		$	10,827		$	12,185
Foreign tax expense (benefit)			29,675			30,389			32,680
Total		$	40,553		$	41,216		$	44,865
Deferred:
U.S. tax expense (benefit)		$	(5,978)		$	8,223		$	(2,420)
U.S. valuation allowance change			6,171			2			(164)
Foreign tax expense (benefit)			966			3,516			(1,750)
Foreign valuation allowance change			(4,152)			(4,780)			1,487
Total		$	(2,993)		$	6,961		$	(2,847)
Provision for income taxes		$	37,560		$	48,177		$	42,018



Schedule of Reconciliation of Effective Tax Rate


		Years Ended August 31,
		2019			2018			2017
Federal tax provision at statutory rates		21.0	%		25.7	%		35.0	%
State taxes, net of federal benefit		0.3			0.2			0.3
Differences in foreign tax rates		10.6			3.9			(5.2)
Permanent items and other adjustments		(2.1)			10.8			1.5
(Decrease)/increase in valuation allowance		4.0			(1.3)			0.1
Provision for income taxes		33.8	%		39.3	%		31.7	%



Significant Components of Deferred Tax Assets


		August 31,
		2019			2018
Deferred tax assets:
U.S. net operating loss carryforward		$	3,763		$	4,470
Foreign tax credits			7,170			126
Deferred compensation			927			907
U.S. timing differences			2,598			1,609
Foreign net operating losses			4,481			5,276
Foreign timing differences:
Accrued expenses and other timing differences			5,581			5,122
Depreciation and amortization			8,819			10,406
Deferred income			4,504			3,545
Gross deferred tax assets			37,843			31,461
U.S. deferred tax liabilities (depreciation and other timing differences)			(5,286)			(5,844)
Foreign deferred tax liabilities netted against deferred tax assets			(5,360)			(5,722)
U.S. valuation allowance			(7,177)			(1,005)
Foreign valuation allowance			(4,546)			(8,724)
Net deferred tax assets		$	15,474		$	10,166



Reconciliation of Unrecognized Tax Benefits




		Years Ended August 31,
		2019			2018				2017
Balance at beginning of fiscal year		$	7,005		$	7,694			$	7,754
Gross increase - tax positions in prior period			530			1,600	(1)			—
Gross decrease - tax positions in prior period			—			(2,526)	(2)			—
Additions based on tax positions related to the current year			94			258				36
Settlements			—			—				(65)
Expiration of the statute of limitations for the assessment of taxes			(1,139)			(21)				(31)
Balance at end of fiscal year		$	6,490		$	7,005			$	7,694



⁽¹⁾ Aeropost related unrecognized tax benefits, with corresponding increase to Goodwill, due to current year acquisition.

⁽²⁾ Beneficial impact of US tax rate change, with corresponding detrimental rate change offset in deferred tax assets.

Summary of Income Tax Examinations


Tax Jurisdiction		Fiscal Years Subject to Audit
U.S. federal		2003 to 2005, 2007, 2011* to 2015*, 2016 to the present
California (U.S.) (state return)		2005 and 2015 to the present
Florida(U.S.) (state return)		2011 to 2015*, 2016 to the present
Aruba		2013 to the present
Barbados		2013 to the present
Costa Rica		2011 to 2012, 2014*, 2015 to the present
Colombia		2015 to the present
Dominican Republic		2011 to 2012 and 2016 to the present
El Salvador		2016 to the present
Guatemala		2009, 2012 to 2013, 2015 the present
Honduras		2014 to the present
Jamaica		2013 to the present
Mexico		2014 to the present
Nicaragua		2015 to the present
Panama		2015*, 2016 to the present
Trinidad		2013 to the present
U.S. Virgin Islands		2001 to the present
Spain		2016 to the present
Chile		2016* to the present
*Aeropost only



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