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Accumulated Other Comprehensive Loss
 3 Months Ended
Nov. 30, 2023
Equity [Abstract]  
Accumulated Other Comprehensive Loss

Note 9 – Accumulated Other Comprehensive Loss

 

Accumulated other comprehensive loss, net of tax effect as appropriate, consisted of the following:

 

(in millions)

 

Unrealized
Gain (Loss)
on Derivative
Financial
Instruments

 

 

Foreign
Currency
Translation
Adjustment

 

 

Other

 

 

Accumulated
Other
Comprehensive
Loss

 

Balance, August 31, 2023

 

$

27.0

 

 

$

(32.1

)

 

$

(2.2

)

 

$

(7.3

)

Other comprehensive gain before reclassifications

 

 

4.3

 

 

 

—

 

 

 

0.1

 

 

 

4.4

 

Amounts reclassified from Accumulated other
   comprehensive loss

 

 

(3.5

)

 

 

—

 

 

 

—

 

 

 

(3.5

)

Balance, November 30, 2023

 

$

27.8

 

 

$

(32.1

)

 

$

(2.1

)

 

$

(6.4

)

 

The amounts reclassified out of Accumulated other comprehensive loss into the Condensed Consolidated Statements of Operations, with financial statement caption, were as follows:

 

 

 

Three Months Ended
November 30,

 

 

 

(in millions)

 

2023

 

 

2022

 

 

Financial Statement Caption

(Gain) loss on derivative financial instruments:

 

 

 

 

 

 

 

 

Foreign exchange contracts

 

$

(0.1

)

 

$

0.2

 

 

Revenue and Cost of revenue

Interest rate swap contracts

 

 

(4.3

)

 

 

(1.0

)

 

Interest and foreign exchange

 

 

(4.4

)

 

 

(0.8

)

 

Total before tax

 

 

0.9

 

 

 

0.3

 

 

Tax expense

 

 

$

(3.5

)

 

$

(0.5

)

 

Net of tax