XML 47 R39.htm IDEA: XBRL DOCUMENT v3.24.2

Derivative Instruments (Tables)

9 Months Ended

May 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Values of Derivative Instruments

Fair Values of Derivative Instruments

(in millions)

		Asset Derivatives										Liability Derivatives
				May 31, 2024				August 31, 2023						May 31, 2024				August 31, 2023
		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		$	5.4			$	2.5			Accounts payable and accrued liabilities		$	0.1			$	0.1
Interest rate swap contracts		Accounts receivable, net			34.8				34.9			Accounts payable and accrued liabilities			0.1				0.1
				$	40.2			$	37.4					$	0.2			$	0.2
Derivatives not designated as hedging instruments
Foreign forward exchange contracts		Accounts receivable, net		$	0.2			$	0.5			Accounts payable and accrued liabilities		$	—			$	—

Effect of Derivative Instruments on the Statements of Operations

The Effect of Derivative Instruments on the Statements of Income

(in millions)

Three months ended May 31, 2024 and May 31, 2023

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
				May 31, 2024				May 31, 2023
Foreign forward exchange contract		Interest and foreign exchange		$	—			$	0.1

Derivatives in cash flow hedging relationships	Gain (loss) recognized in OCI on derivatives three months ended May 31,							Location of gain (loss) reclassified from accumulated OCI into income	Gain (loss) reclassified from accumulated OCI into income three months ended May 31,							Location of gain (loss) on derivatives (amount excluded from effectiveness testing)	Gain (loss) recognized on derivatives (amount excluded from effectiveness testing) three months ended May 31,
	2024				2023				2024				2023				2024				2023
Foreign forward exchange contracts	$	0.9			$	2.7		Revenue	$	0.9			$	—		Revenue	$	0.6			$	0.6
Foreign forward exchange contracts		0.3				0.6		Cost of revenue		0.2				0.5		Cost of revenue		0.2				0.1
Interest rate swap contracts		6.9				(7.2	)	Interest and foreign exchange		4.3				3.4		Interest and foreign exchange		—				—
	$	8.1			$	(3.9	)		$	5.4			$	3.9			$	0.8			$	0.7

The Effect of Derivative Instruments on the Statements of Income

(in millions)

Nine months ended May 31, 2024 and May 31, 2023

Derivatives in cash flow hedging relationships		Location of gain (loss) recognized in income on derivatives		Gain (loss) recognized in income on derivatives nine months ended May 31,
				2024				2023
Foreign forward exchange contract		Interest and foreign exchange		$	0.2			$	(0.2	)

Derivatives in cash flow hedging relationships		Gain (loss) recognized in OCI on derivatives nine months ended May 31,								Location of gain (loss) reclassified from accumulated OCI into income		Gain (loss) reclassified from accumulated OCI into income nine months ended May 31,								Location of gain (loss) on derivatives (amount excluded from effectiveness testing)		Gain (loss) recognized on derivatives (amount excluded from effectiveness testing) nine months ended May 31,
		2024				2023						2024				2023						2024				2023
Foreign forward exchange contracts		$	3.8			$	4.7			Revenue		$	1.9			$	(0.9	)		Revenue		$	1.8			$	1.4
Foreign forward exchange contracts			0.3				1.7			Cost of revenue			0.1				1.1			Cost of revenue			0.8				0.5
Interest rate swap contracts			12.9				11.8			Interest and foreign exchange			12.8				6.8			Interest and foreign exchange			—				—
		$	17.0			$	18.2					$	14.8			$	7.0					$	2.6			$	1.9

Effects of Cash Flow Hedges Included in Statements of Operations

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 May 31, 2024 and May 31, 2023:

		Three months ended May 31,
		2024								2023
		Total				Amount of gain (loss) on cash flow hedge activity				Total				Amount of gain (loss) on cash flow hedge activity
Revenue		$	820.2			$	0.9			$	1,038.1			$	—
Cost of revenue		$	696.4			$	0.2			$	910.0			$	0.5
Interest and foreign exchange		$	24.7			$	4.3			$	22.8			$	3.4

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 nine months ended May 31, 2024 and May 31, 2023:

		Nine months ended May 31,
		2024								2023
		Total				Amount of gain (loss) on cash flow hedge activity				Total				Amount of gain (loss) on cash flow hedge activity
Revenue		$	2,491.7			$	1.9			$	2,926.6			$	(0.9	)
Cost of revenue		$	2,124.4			$	0.1			$	2,612.2			$	1.1
Interest and foreign exchange		$	72.5			$	12.8			$	64.0			$	6.8

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
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4E
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4E

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4A

+ 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
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4B

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration