XML 46 R35.htm IDEA: XBRL DOCUMENT
v3.23.1

Derivative Instruments (Tables) | 6 Months Ended
--- | ---
Feb. 28, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Fair Values of Derivative Instruments | Fair Values of Derivative Instruments (in millions)
|  | Asset Derivatives |  |  | Liability Derivatives |
|  |  |  | February 28, 2023 |  |  | August 31, 2022 |  |  |  |  | February 28, 2023 |  |  | August 31, 2022 |
|  | Balance sheet location |  | Fair Value |  |  | Fair Value |  |  | Balance sheet location |  | Fair Value |  |  | Fair Value |
Derivatives designated as hedging instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign forward exchange contracts |  | Accounts receivable, net |  | $ | 1.5 |  |  | $ | 0.6 |  |  | Accounts payable and accrued liabilities |  | $ | 0.4 |  |  | $ | 2.9 |
Interest rate swap contracts |  | Accounts receivable, net |  |  | 36.4 |  |  |  | 20.8 |  |  | Accounts payable and accrued liabilities |  |  | — |  |  |  | - |
|  |  |  | $ | 37.9 |  |  | $ | 21.4 |  |  |  |  | $ | 0.4 |  |  | $ | 2.9 |
Derivatives not designated as hedging instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign forward exchange contracts |  | Accounts receivable, net |  | $ | — |  |  | $ | — |  |  | Accounts payable and accrued liabilities |  | $ | — |  |  | $ | 0.1 |
Effect of Derivative Instruments on the Statements of Income | The Effect of Derivative Instruments on the Statements of Income (in millions) Three Months Ended February 28, 2023 and 2022
Derivatives in cash flow hedging relationships |  | Location of gain (loss) recognized in income on derivatives |  | Gain (loss) recognized in income on derivatives three months ended February 28, |
|  |  |  | 2023 |  |  | 2022 |
Foreign forward exchange contract |  | Interest and foreign exchange |  | $ | (0.3 | ) |  | $ | (0.1 | )
Derivatives in cash flow hedging relationships | Gain (loss) recognized in OCI on derivatives three months ended February 28, |  | Location of gain (loss) reclassified from accumulated OCI into income | Gain (loss) reclassified from accumulated OCI into income three months ended February 28, |  | Location of gain (loss) on derivative (amount excluded from effectiveness testing) | Gain (loss) recognized on derivative (amount excluded from effectiveness testing) three months ended February 28, |
| 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Foreign forward exchange contracts | $ | 0.5 |  |  | $ | (0.4 | ) | Revenue | $ | (0.5 | ) |  | $ | (0.2 | ) | Revenue | $ | 0.5 |  |  | $ | 0.3 |
Foreign forward exchange contracts |  | 0.8 |  |  |  | 1.4 |  | Cost of revenue |  | 0.4 |  |  |  | — |  | Cost of revenue |  | 0.3 |  |  |  | 0.3 |
Interest rate swap contracts |  | 8.6 |  |  |  | 0.6 |  | Interest and foreign exchange |  | 2.4 |  |  |  | (1.3 | ) | Interest and foreign exchange |  | — |  |  |  | — |
| $ | 9.9 |  |  | $ | 1.6 |  |  | $ | 2.3 |  |  | $ | (1.5 | ) |  | $ | 0.8 |  |  | $ | 0.6 |
Six Months Ended February 28, 2023 and 2022
Derivatives in cash flow hedging relationships |  | Location of gain (loss) recognized in income on derivatives |  | Gain (loss) recognized in income on derivatives six months ended February 28, |
|  |  |  | 2023 |  |  | 2022 |
Foreign forward exchange contract |  | Interest and foreign exchange |  | $ | (0.3 | ) |  | $ | (0.4 | )
Derivatives in cash flow hedging relationships |  | Gain (loss) recognized in OCI on derivatives six months ended February 28, |  |  | Location of gain (loss) reclassified from accumulated OCI into income |  | Gain (loss) reclassified from accumulated OCI into income six months ended February 28, |  |  | Location of gain (loss) on derivative (amount excluded from effectiveness testing) |  | Gain (loss) recognized on derivative (amount excluded from effectiveness testing) six months ended February 28, |
|  | 2023 |  |  | 2022 |  |  |  |  | 2023 |  |  | 2022 |  |  |  |  | 2023 |  |  | 2022 |
Foreign forward exchange contracts |  | $ | 2.0 |  |  | $ | (5.0 | ) |  | Revenue |  | $ | (0.9 | ) |  | $ | (0.4 | ) |  | Revenue |  | $ | 0.8 |  |  | $ | 0.5 |
Foreign forward exchange contracts |  |  | 1.1 |  |  |  | 0.1 |  |  | Cost of revenue |  |  | 0.6 |  |  |  | — |  |  | Cost of revenue |  |  | 0.4 |  |  |  | 0.4 |
Interest rate swap contracts |  |  | 19.0 |  |  |  | 2.3 |  |  | Interest and foreign exchange |  |  | 3.4 |  |  |  | (2.6 | ) |  | Interest and foreign exchange |  |  | — |  |  |  | — |
|  | $ | 22.1 |  |  | $ | (2.6 | ) |  |  |  | $ | 3.1 |  |  | $ | (3.0 | ) |  |  |  | $ | 1.2 |  |  | $ | 0.9 |
Effects of Cash Flow Hedges Included in Statements of Income | The following table presents the amounts in the Condensed Consolidated Statements of Income in which the effects of the cash flow hedges are recorded and the effects of the cash flow hedge activity on these line items for the three months ended February 28, 2023 and 2022:
|  | For The Three Months Ended February 28, |
|  | 2023 |  |  | 2022 |
|  | Total |  |  | Amount of gain (loss) on cash flow hedge activity |  |  | Total |  |  | Amount of gain (loss) on cash flow hedge activity |
Revenue |  | $ | 1,122.0 |  |  | $ | (0.5 | ) |  | $ | 682.8 |  |  | $ | (0.2 | )
Cost of revenue |  | $ | 1,005.2 |  |  | $ | 0.4 |  |  | $ | 628.0 |  |  | $ | — |
Interest and foreign exchange |  | $ | 21.6 |  |  | $ | 2.4 |  |  | $ | 11.8 |  |  | $ | (1.3 | )
The following table presents the amounts in the Condensed Consolidated Statements of Income in which the effects of the cash flow hedges are recorded and the effects of the cash flow hedge activity on these line items for the six months ended February 28, 2023 and 2022:
|  | For The Six Months Ended February 28, |
|  | 2023 |  |  | 2022 |
|  | Total |  |  | Amount of gain (loss) on cash flow hedge activity |  |  | Total |  |  | Amount of gain (loss) on cash flow hedge activity |
Revenue |  | $ | 1,888.5 |  |  | $ | (0.9 | ) |  | $ | 1,233.5 |  |  | $ | (0.4 | )
Cost of revenue |  | $ | 1,702.2 |  |  | $ | 0.6 |  |  | $ | 1,131.1 |  |  | $ | — |
Interest and foreign exchange |  | $ | 41.2 |  |  | $ | 3.4 |  |  | $ | 24.4 |  |  | $ | (2.6 | )

X
- Definition Schedule of effects of cash flow hedges included in statement of income. + References No definition available. + Details
Name: | gbx_ScheduleOfEffectsOfCashFlowHedgesIncludedInStatementOfIncomeTableTextBlock
Namespace Prefix: | gbx_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration