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Debt (Tables) | 3 Months Ended
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Nov. 30, 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):
| Issuance | Maturities |  | November 30, 2023 |  | August 31, 2023
Credit Agreement – revolving credit facility (1) | Various | 9/30/2025 |  | $ | 43,429 |  |  | $ | 52,943 |
Note Agreement |  |  |  |  |  |
Series A Notes – 3.39% fixed rate(2) | 11/15/2017 | 2024-2032 |  | 15,200 |  |  | 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 |  |  |  | 110,629 |  |  | 120,543 |
Short-term portion of borrowings |  |  |  | (24,456) |  |  | (10,800) |
Total long-term borrowings |  |  |  | $ | 86,173 |  |  | $ | 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 November 30, 2023, $19.8 million of this facility was classified as long-term and was entirely denominated in Euros. $23.6 million was classified as short-term and was denominated in U.S. Dollars and Pounds Sterling. As of August 31, 2023, $42.9 million on 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 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.

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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. + References No definition available. + Details
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