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DEBT (Tables) | 6 Months Ended
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Feb. 28, 2023
Debt Disclosure [Abstract] |
Schedule of Short-Term Borrowings | 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 of Facilities |  | Short-term Borrowings |  | Letters of Credit |  | Facilities Available |  | Weighted average interest rate
February 28, 2023 - Committed | $ | 75,000 |  |  | $ | — |  |  | $ | 151 |  |  | $ | 74,849 |  |  | — | %
February 28, 2023 - Uncommitted | 91,000 |  |  | 10,133 |  |  | — |  |  | 80,867 |  |  | 12.7 |
February 28, 2023 - Total | $ | 166,000 |  |  | $ | 10,133 |  |  | $ | 151 |  |  | $ | 155,716 |  |  | 12.7 | %
August 31, 2022 - Committed | $ | 75,000 |  |  | — |  |  | 73 |  |  | $ | 74,927 |  |  | — | %
August 31, 2022 - Uncommitted | 91,000 |  |  | 10,608 |  |  | — |  |  | 80,392 |  |  | 5.3 |
August 31, 2022 - Total | $ | 166,000 |  |  | $ | 10,608 |  |  | $ | 73 |  |  | $ | 155,319 |  |  | 5.3 | %
Schedule of Changes in Long-Term Debt | The following table provides the changes in long-term debt for the six months ended February 28, 2023:
(Amounts in thousands) | Current portion of long-term debt |  | Long-term debt (net of current portion) |  | Total |
Balances as of August 31, 2022 | $ | 33,715 |  |  | $ | 103,556 |  |  | $ | 137,271 |  | (1)
Proceeds from long-term debt incurred during the period: |  |  |  |  |  |
Guatemala subsidiary | — |  |  | 12,454 |  |  | 12,454 |  |
Barbados subsidiary | — |  |  | 7,460 |  |  | 7,460 |  |
Honduras subsidiary | 1,002 |  |  | 12,796 |  |  | 13,798 |  |
Total proceeds from long-term debt incurred during the period | 1,002 |  |  | 32,710 |  |  | 33,712 |  |
Repayments of long-term debt: | (8,175) |  |  | (8,819) |  |  | (16,994) |  |
Reclassifications of long-term debt due in the next 12 months | 868 |  |  | (868) |  |  | — |  |
Translation adjustments on foreign currency debt of subsidiaries whose functional currency is not the U.S. dollar(2) | 11 |  |  | (196) |  |  | (185) |  |
Balances as of February 28, 2023 | $ | 27,421 |  |  | $ | 126,383 |  |  | $ | 153,804 |  | (3)
(1)The carrying amount of non-cash assets assigned as collateral for these loans was $155.6 million. The carrying amount of cash assets assigned as collateral for these loans was $5.3 million. (2)These foreign currency translation adjustments are recorded within Other comprehensive income (loss). (3)The carrying amount of non-cash assets assigned as collateral for these loans was $172.0 million. The carrying amount of cash assets assigned as collateral for these loans was $4.4 million.
Schedule of Annual Maturities of Long-Term Debt | Annual maturities of long-term debt are as follows (in thousands):
Twelve Months Ended February 28, |  | Amount
2024 |  | $ | 27,421 |
2025 |  | 37,926 |
2026 |  | 15,534 |
2027 |  | 13,288 |
2028 |  | 43,483 |
Thereafter |  | 16,152 |
Total |  | $ | 153,804 |

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- Definition Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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