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DEBT (Tables) | 9 Months Ended
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May 31, 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
May 31, 2023 - Committed | $ | 75,000 |  |  | $ | — |  |  | $ | 84 |  |  | $ | 74,916 |  |  | — | %
May 31, 2023 - Uncommitted | 91,000 |  |  | 10,414 |  |  | — |  |  | 80,586 |  |  | 11.9 |
May 31, 2023 - Total | $ | 166,000 |  |  | $ | 10,414 |  |  | $ | 84 |  |  | $ | 155,502 |  |  | 11.8 | %
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 nine months ended May 31, 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 | 1,001 |  |  | 12,797 |  |  | 13,798 |  |
Trinidad subsidiary | 750 |  |  | 4,250 |  |  | 5,000 |  |
Total proceeds from long-term debt incurred during the period | 1,751 |  |  | 36,961 |  |  | 38,712 |  |
Repayments of long-term debt: | (17,450) |  |  | (13,957) |  |  | (31,407) |  |
Reclassifications of long-term debt due in the next 12 months | 1,426 |  |  | (1,426) |  |  | — |  |
Translation adjustments on foreign currency debt of subsidiaries whose functional currency is not the U.S. dollar(2) | 315 |  |  | (503) |  |  | (188) |  |
Balances as of May 31, 2023 | $ | 19,757 |  |  | $ | 124,631 |  |  | $ | 144,388 |  | (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 $160.9 million. The carrying amount of cash assets assigned as collateral for these loans was $3.9 million.
Schedule of Annual Maturities of Long-Term Debt | Annual maturities of long-term debt are as follows (in thousands):
Twelve Months Ended May 31, |  | Amount
2024 |  | $ | 19,757 |
2025 |  | 37,049 |
2026 |  | 14,902 |
2027 |  | 39,160 |
2028 |  | 18,330 |
Thereafter |  | 15,190 |
Total |  | $ | 144,388 |

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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 -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 + Details
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