XML 26 R14.htm IDEA: XBRL DOCUMENT
v3.20.4

DEBT | 3 Months Ended
--- | ---
Nov. 30, 2020
DEBT [Abstract] |
DEBT | NOTE 7 – DEBT Short-term borrowings consist of unsecured lines of credit. 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, 2020 |  | $ | 121,000 |  | $ | 47,349 |  | $ | 125 |  | $ | 73,526 |  | 2.9 | %
August 31, 2020 |  | $ | 81,210 |  | $ | 65,143 |  | $ | 388 |  | $ | 15,679 |  | 3.7 | %
As of November 30, 2020 and August 31, 2020, the Company had approximately $40.0 million of short-term facilities in the U.S. As of November 30, 2020 and August 31, 2020, the Company was in compliance with all covenants or amended covenants for each of its short-term facility agreements. Each of the facilities expires annually except for the U.S. facility, which expires bi-annually. The facilities are normally renewed. The following table provides the changes in long-term debt for the three-months ended November 30, 2020:
(Amounts in thousands) |  | Current ‎portion of ‎long-term debt |  | Long-term ‎debt (net of current portion) |  | Total |
Balances as of August 31, 2020 |  | $ | 19,437 |  | $ | 112,610 |  | $ | 132,047 | (1)
Regularly scheduled loan payments |  |  | (287) |  |  | (3,610) |  |  | (3,897) |
Reclassifications of long-term debt due in the next 12 months |  |  | 625 |  |  | (625) |  |  | — |
Translation adjustments on foreign currency debt of subsidiaries whose functional currency is not the U.S. dollar (2) |  |  | (4) |  |  | (271) |  |  | (275) |
Balances as of November 30, 2020 |  | $ | 19,771 |  | $ | 108,104 |  | $ | 127,875 | (3)
(1)The carrying amount of non-cash assets assigned as collateral for these loans was $158.6 million. No cash assets were assigned as collateral for these loans. (2)These foreign currency translation adjustments are recorded within Other comprehensive income. (3)The carrying amount of non-cash assets assigned as collateral for these loans was $154.1 million. No cash assets were assigned as collateral for these loans. As of November 30, 2020, the Company had approximately $104.0 million of long-term loans in several foreign subsidiaries that require these subsidiaries to comply with certain annual or quarterly financial covenants, which include debt service and leverage ratios. As of November 30, 2020, the Company was in compliance with all covenants or amended covenants. As of August 31, 2020, the Company had approximately $107.4 million of long-term loans in several foreign subsidiaries that require these subsidiaries to comply with certain annual or quarterly financial covenants. Annual maturities of long-term debt are as follows (in thousands):
Twelve Months Ended November 30, |  | Amount
2021 |  | $ | 19,771
2022 |  |  | 15,455
2023 |  |  | 23,906
2024 |  |  | 23,335
2025 |  |  | 7,777
Thereafter |  |  | 37,631
Total |  | $ | 127,875

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
Name: | us-gaap_DebtDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration