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Debt (Tables)
 9 Months Ended
May 31, 2023
Debt Disclosure [Abstract]  
Schedule of Short-term and Long-term Borrowings
Short-term and long-term borrowings under the Company’s Credit Agreement and Note Agreement consisted of the following (in thousands):
IssuanceMaturitiesMay 31,
2023		August 31,
2022
Credit Agreement – revolving credit facility (1)
Various9/30/2025$68,549 $77,912 
Note Agreement
Series A Notes – 3.39% fixed rate(2)
11/15/2017
2023-2032
15,600 16,400 
Series B Notes – 2.50% fixed rate(3)
9/30/202011/15/202726,000 26,000 
Series C Notes – 2.69% fixed rate(3)
9/30/202011/15/203026,000 26,000 
Total borrowings136,149 146,312 
Short-term portion of borrowings(27,256)(39,173)
Total long-term borrowings$108,893 $107,139 
(1)The Company can refinance any draw under the line of credit with successive short-term borrowings through the maturity date. Outstanding draws for which management has the ability and intent to refinance with successive short-term borrowings for a period of at least twelve months are classified as long-term. As of May 31, 2023, $42.1 million on this facility is classified as long-term and is denominated in Euros and Pounds Sterling, whereas $26.4 million is classified as short-term and is denominated entirely in U.S. Dollars. Euro and Pound Sterling denominated draws fluctuate in U.S. Dollars from period to period due to changes in foreign currency exchange rates.
(2)Principal payments are required semi-annually in May and November of each year in equal installments of $0.4 million through May 15, 2032, resulting in $0.8 million classified as short-term. The remaining outstanding principal in the amount of $8.4 million will become due on November 15, 2032.
(3)Interest on notes is payable semi-annually in May and November of each year with no principal due until the maturity date.