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Debt (Tables)

12 Months Ended

Aug. 31, 2024

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):

			Issuance			Maturities (calendar year)						August 31, 2024						August 31, 2023
Credit Agreement – revolving credit facility (1)(3)			Various			4/30/2029						27,836						$	52,943
Note Agreement
Series A Notes – 3.39% fixed rate(2)			11/15/2017			2024-2032						14,800						15,600
Series B Notes – 2.50% fixed rate(3)			9/30/2020			11/15/2027						26,000						26,000
Series C Notes – 2.69% fixed rate(3)			9/30/2020			11/15/2030						26,000						26,000
Total borrowings												94,636						120,543
Short-term portion of borrowings												(8,659)						(10,800)
Total long-term borrowings												$	85,977					$	109,743

(1)The Company has the ability to 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 August 31, 2024, $20.0 million of this facility was classified as long-term and was entirely denominated in Euros. $7.8 million was classified as short-term and was denominated in U.S. Dollars. As of August 31, 2023, $42.9 million of this facility was classified as long-term and was denominated in Euros and Pounds Sterling. $10.0 million was classified as short-term and was denominated 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.

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- Definition

Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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