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Benefit Plans

3 Months Ended

Nov. 30, 2020

Retirement Benefits [Abstract]

Benefit plans

Benefit Plans

    We have various pension and other defined benefit and defined contribution plans, in which substantially all employees may participate. We also have nonqualified supplemental executive and Board retirement plans.

    Components of net periodic benefit costs for the three months ended November 30, 2020 and 2019, are as follows:

			Three Months Ended November 30,
			Qualified Pension Benefits												Nonqualified Pension Benefits												Other Benefits
			2020						2019						2020						2019						2020						2019
Components of net periodic benefit costs:			(Dollars in thousands)
Service cost			$	11,307					$	10,538					$	108					$	101					$	297					$	262
Interest cost			4,141						5,431						68						107						123						187
Expected return on assets			(10,910)						(11,671)						—						—						—						—
Prior service cost (credit) amortization			45						45						(28)						(28)						(111)						(111)
Actuarial loss (gain) amortization			5,447						5,396						53						25						(341)						(348)
Net periodic benefit cost (benefit)			$	10,030					$	9,739					$	201					$	205					$	(32)					$	(10)

    The service cost component of defined benefit net periodic benefit cost is recorded in cost of goods sold and marketing, general and administrative expenses. The other components of net periodic benefit cost are recorded in other income.

Employer Contributions

    Any contributions made during fiscal 2021 will depend primarily on market returns on the pension plan assets and minimum funding level requirements. No contributions were made to the pension plans during the three months ended November 30, 2020, and we do not currently anticipate being required to make contributions for our pension plans in fiscal 2021.

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- Definition

The entire disclosure for an entity's employee compensation and benefit plans, including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, share-based compensation, life insurance, severance, health care, unemployment and other benefit plans.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-URI http://asc.fasb.org/topic&trid=2228938

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 712
-URI http://asc.fasb.org/topic&trid=2197446

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 710
-URI http://asc.fasb.org/topic&trid=2127225

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI http://asc.fasb.org/topic&trid=2235017

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- References

No definition available.

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