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Subsequent Events | 12 Months Ended
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Aug. 31, 2016
Subsequent Events [Abstract] |
Subsequent Events | Note 16. Subsequent Events ﻿ On October 11, 2016, the Company’s Board of Directors declared a cash dividend of $0.42 per share payable on October 31, 2016 to shareholders of record on October 21, 2016. ﻿ On September 1, 2016, the Company entered into a fourth amendment (the “Fourth Amendment”) to its existing unsecured credit agreement dated June 17, 2011 with Bank of America. The Fourth Amendment amended the credit agreement in contemplation of the previously announced purchase of the Company’s new headquarters office and land located at 9715 Business Park Avenue, San Diego, California (the “Property”). The Fourth Amendment permits the Company to spend an aggregate amount not to exceed $18.0 million for the acquisition and improvement costs for the Property and also includes changes to the agreement that will allow, as a permitted lien, any agreement with Bank of America for secured debt. See Note 7 – Debt for additional information on the Company’s existing unsecured credit agreement and related financial covenants. ﻿ On September 13, 2016, the Company closed escrow and completed the acquisition of the Property, which consists of 2.23 acres of land and a building comprising of approximately 41,500 square feet of office space. The Property was acquired for an aggregate purchase price of $10.7 million and the Company expects to incur approximately $4.5 million in capital costs related to the buildout of the acquired building and for the purchase of new furniture, fixtures and equipment. The Company intends to use the Property for its headquarters office, replacing its current Company-owned headquarters located at 1061 Cudahy Place, San Diego, California which houses both corporate employees and employees in the Company’s Americas segment. The Company utilized its existing unsecured $175.0 million revolving credit facility with Bank of America in order to fund the purchase of the Property. ﻿

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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 No definition available. + Details
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