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INVESTMENTS
 9 Months Ended
May 31, 2021
Investments, All Other Investments [Abstract]  
INVESTMENTS

NOTE 5: INVESTMENTS

 

We invest a portion of our excess cash balances in short-term debt securities within the parameters of our Investment Policy and Guidelines. Investments as of May 31, 2021 consisted of corporate bonds with maturities remaining of less than 12 months. We may also invest excess cash balances in certificates of deposit, money market accounts, government-sponsored enterprise securities, corporate bonds and/or commercial paper. We account for investments in accordance with FASB ASC 320, Investments – Debt and Equity Securities. As of May 31, 2021, all investments were classified as held-to-maturity securities. 

 

The following tables summarize our short-term investments as of May 31, 2021 and August 31, 2020:

 

May 31, 2021 
                    
(in thousands)  Amortized Cost  

Gross

Unrealized

Gains

  

Gross

Unrealized

Losses

   Fair Value 
                     
Commercial notes (due within one year)  $60,948   $–   $(23)  $60,925 
Total  $60,948   $–   $(23)  $60,925 

  

 

August 31, 2020

 

(in thousands)  Amortized Cost  

Gross

Unrealized

Gains

  

Gross

Unrealized

Losses

   Fair Value 
                 
Commercial notes (due within one year)  $66,804   $–   $(61)  $66,743 
Total  $66,804   $–   $(61)  $66,743