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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 6 Months Ended
Feb. 28, 2014
Derivative [Line Items]  
Schedule of Interest Rate Derivatives
The following table summarizes agreements for which the Company has recorded cash flow hedge accounting transactions during the six months ended February 28, 2014:
Subsidiary
 
Date Entered into
 
Derivative Financial Counter-party
 
Derivative Financial Instruments
 
Initial
US Notional Amount (in thousands)
 
Bank US loan Held with
 
Floating Leg (swap counter-party)
 
Fixed Rate for PSMT Subsidiary
 
Settlement Reset Date
 
Effective Period of swap
Colombia
 
11-Dec-12
 
Bank of Nova Scotia ("Scotiabank")
 
Cross currency interest rate swap
 
$
8,000,000

 
Bank of Nova Scotia
 
Variable rate 3-month Libor plus 0.7%
 
4.79
%
 
March, June, September and December, beginning on March 5, 2013
 
December 5, 2012 - December 5, 2014
Colombia
 
21-Feb-12
 
Bank of Nova Scotia ("Scotiabank")
 
Cross currency interest rate swap
 
$
8,000,000

 
Bank of Nova Scotia
 
Variable rate 3-month Libor plus 0.6%
 
6.02
%
 
February, May, August and November beginning on May 22, 2012
 
February 21, 2012 - February 21, 2017
Colombia
 
17-Nov-11
 
Bank of Nova Scotia ("Scotiabank")
 
Cross currency interest rate swap
 
$
8,000,000

 
Citibank, N.A.
 
Variable rate 6-month Eurodollar Libor plus 2.4%
 
5.85
%
 
May 3, 2012 and semi-annually thereafter
 
November 3, 2011 - November 3, 2013
Colombia
 
21-Oct-11
 
Bank of Nova Scotia ("Scotiabank")
 
Cross currency interest rate swap
 
$
2,000,000

 
Bank of Nova Scotia
 
Variable rate 3-month Libor plus 0.7%
 
5.30
%
 
January, April, July and October, beginning on October 29, 2011
 
July 29, 2011 - April 1, 2016
Colombia
 
21-Oct-11
 
Bank of Nova Scotia ("Scotiabank")
 
Cross currency interest rate swap
 
$
6,000,000

 
Bank of Nova Scotia
 
Variable rate 3-month Libor plus 0.7%
 
5.45
%
 
March, June, September and December, beginning on October 29, 2011
 
September 29, 2011 - April 1, 2016
Colombia
 
5-May-11
 
Bank of Nova Scotia ("Scotiabank")
 
Cross currency interest rate swap
 
$
8,000,000

 
Bank of Nova Scotia
 
Variable rate 3-month Libor plus 0.7%
 
6.09
%
 
January, April, July and October, beginning on July 5, 2011
 
April 1, 2011 - April 1, 2016
Trinidad
 
20-Nov-08
 
Royal Bank of Trinidad & Tobago
 
Interest rate swaps
 
$
8,900,000

 
Royal Bank of Trinidad & Tobago
 
Variable rate 1-year Libor plus 2.75%
 
7.05
%
 
Annually on August 26
 
September 25, 2008 - September 26, 2013
Interest Rate Swap
  
Derivative [Line Items]  
Schedule of Notional Amounts of Outstanding Derivative Positions
The total notional balance of the Company’s pay-fixed/receive-variable interest rate swaps and cross-currency interest rate swaps was as follows (in thousands):
 Floating Rate Payer (Swap Counterparty)
 
February 28, 2014
 
August 31, 2013
RBTT
 
$
—

 
$
4,500

Scotiabank
 
32,000

 
40,000

Total
 
$
32,000

 
$
44,500
Derivative Swaps [Member]
  
Derivative [Line Items]  
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location
For the three and six-month period ended February 28, 2014 and 2013, the Company included the gain or loss on the hedged items (that is, variable-rate borrowings) in the same line item—interest expense—as the offsetting gain or loss on the related interest rate swaps as follows (in thousands):
Income Statement Classification
 
Interest expense
on borrowings(1)
 
Cost of swaps (2)
 
Total
Interest expense for the three months ended February 28, 2014
 
$
113

 
$
334

 
$
447

Interest expense for the three months ended February 28, 2013
 
$
179

 
$
463

 
$
642

Interest expense for the six months ended February 28, 2014
 
$
240

 
$
764

 
$
1,004

Interest expense for the six months ended February 28, 2013
 
$
377

 
$
860

 
$
1,237
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The following table summarizes the fair value of interest rate swap and cross-currency interest rate swap derivative instruments that qualify for derivative hedge accounting (in thousands, except footnote data):
 
 
February 28, 2014
 
August 31, 2013
Derivatives designated as cash flow hedging instruments
 
Balance Sheet Account
 
Fair Value
 
Balance Sheet Account
 
Fair Value
Cross currency interest rate swaps(1)(2)
 
Prepaid expenses and current assets
 
$
891

 
Prepaid expenses and current assets
 
$
—

Cross currency interest rate swaps(1)(2)
 
Other non-current assets
 
1,969

 
Other non-current assets
 
1,505

Interest rate swaps(3)
 
Other long-term liabilities
 
—

 
Other long-term  liabilities
 
(14
)
Net fair value of derivatives designated as hedging instruments - assets (liability)(4)
 
 
 
$
2,860

 
 
 
$
1,491


(1) 
The effective portion of the cross-currency interest rate swaps was recorded to Accumulated other comprehensive (income)/loss for $(1.9) million and $(1.0) million net of tax as of February 28, 2014 and August 31, 2013, respectively.  
(2) 
The Company has recorded a deferred tax liability amount with an offset to other comprehensive income - tax of $(940,000) and $(497,000) as of February 28, 2014 and August 31, 2013, respectively, related to asset positions of cross-currency interest rate swaps.
(3) 
The effective portion of the interest rate swaps was recorded to Accumulated other comprehensive loss for $0 and $10,000 net of tax as of February 28, 2014 and August 31, 2013, respectively.  The Company has recorded a deferred tax asset amount with an offset to other comprehensive income - tax of $0 and $4,000 as of February 28, 2014 and August 31, 2013, respectively. There were no interest rate swaps outstanding as of February 28, 2014.
(4) 
Derivatives listed on the above table were designated as cash flow hedging instruments.
Foreign Exchange Contract
  
Derivative [Line Items]  
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location

For the three and six-month periods ended February 28, 2014 and 2013, the Company included in its consolidated statements of income the forward derivative (gain) or loss on the non-deliverable forward foreign-exchange contracts as follows (in thousands):
 
 
Three Months Ended
 
Six Months Ended
Income Statement Classification
 
February 28, 2014
 
February 28, 2013
 
February 28, 2014
 
February 28, 2013
Other income (expense), net
 
$
62

 
$
(160
)
 
$
185

 
$
(132
)
Schedule of Notional Amounts of Outstanding Derivative Positions
The Company has entered into non-deliverable forward foreign exchange contracts; the open amounts as of February 28, 2014 are summarized below:

Subsidiary
 
Date entered into
 
Derivative Financial Counter-party
 
Derivative Financial Instruments
 
Notional Amount
(in thousands)
 
Settlement Dates
 
Effective Periods
Colombia
 
February 2014
 
Bank of Nova Scotia
 
Forward foreign exchange contracts
 
$
8,000

 
March 2014
 
February 2014 - March 2014
Colombia
 
February 2014
 
 Citibank N.A.
 
Forward foreign exchange contracts
 
$
5,000

 
March 2014 - April 2014
 
February 2014 - April 2014
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The following table summarizes the fair value of foreign currency forward contracts that do not qualify for derivative hedge accounting (in thousands):
 
 
February 28, 2014
 
August 31, 2013
Derivatives designated as fair value hedging instruments
 
Balance Sheet Location
 
Fair Value
 
Balance Sheet Location
 
Fair Value
Foreign currency forward contracts
 
Prepaid expenses and other current assets
 
$
1

 
Prepaid expenses and other current assets
 
$
—

Foreign currency forward contracts
 
Other accrued expenses
 
(55
)
 
Other accrued expenses
 
—

Net fair value of derivatives designated as hedging instruments that do not qualify for hedge accounting
 
 
 
$
(54
)
 
 
 
$
—