Derivative Instruments (Tables)

6 Months Ended

Feb. 29, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of all hedging positions and corresponding fair value

The following is a summary of the gross notional values of the derivative instruments: 

(in thousands, in U.S. dollars)	Gross Notional Value
	February 29, 2020		August 31, 2019
Foreign Currency Forward Contracts	$	80,277	$	113,700

Summary of derivative instruments

The following is a summary of the fair values of the derivative instruments:

	Fair Value of Derivative Instruments
Derivatives designated as hedging instruments		Derivative Assets					Derivative Liabilities
		February 29, 2020		August 31, 2019			February 29, 2020		August 31, 2019
	Balance Sheet Classification	Fair Value		Fair Value		Balance Sheet Classification	Fair Value		Fair Value
Foreign Currency Forward Contracts	Prepaid expenses and other current assets	$	610	$	520	Accounts payable and accrued expenses	$	1,181	$	3,575

Schedule of pre-tax effect of derivative instruments in cash flow hedging relationships

(in thousands)	(Loss) Gain Recognized in AOCL on Derivatives				Location of Loss Reclassified from AOCL into Income	Loss Reclassified from AOCL into Income
Derivatives in Cash Flow Hedging Relationships	2020		2019			2020		2019
Foreign currency forward contracts	$	(630)	$	321	SG&A	$	(349)	$	(385)
The following table provides the pre-tax effect of derivative instruments in cash flow hedging relationships for the six months ended February 29, 2020 and February 28, 2019, respectively:
(in thousands)	Gain Recognized in AOCL on Derivatives				Location of Loss Reclassified from AOCL into Income	Loss Reclassified from AOCL into Income
Derivatives in Cash Flow Hedging Relationships	2020		2019			2020		2019
Foreign currency forward contracts	$	1,402	$	2,264	SG&A	$	(1,082)	$	(784)