COMMITMENTS AND CONTINGENCIES (Tables)

9 Months Ended

May 31, 2018

COMMITMENTS AND CONTINGENCIES [Abstract]

Schedule of Future Minimum Lease Commitments

	Maturity of
Years ended May 31,	Lease Liabilities (1)
2019	$	13,509
2020		12,138
2021		10,597
2022		9,284
2023		9,412
Thereafter		113,315
Total	$	168,255	(2)(3)

⁽¹⁾ Operating lease obligations have been reduced by approximately $1.7 million to reflect sub-lease income.  Certain obligations under leasing arrangements are collateralized by the underlying asset being leased.

⁽²⁾ Future minimum lease payments include $2.6 million of lease payment obligations for the prior leased Miami distribution center.  For the purposes of calculating the minimum lease payments, no reduction was considered for the potential sub-lease income the Company could receive during the remaining lease term for unexecuted subleases. However, projected income for any executed sub-leases would be used to reduce the amount reported as minimum lease payments. Potential sub-lease income was considered, however, for the purposes of calculating the exit obligation which was immaterial on the balance sheet as of May 31, 2018.

⁽³⁾ Future minimum lease payments do not include the approximately $31.6 million of minimum lease payments related to the Honduras lease extension contract entered into in June 2018.  See Note 10 – Subsequent Events.

Schedule of Variable Interest Entities Maximum Loss Exposure

Entity	% Ownership		Initial Investment		Additional Investments		Net (Loss)/Income Inception to Date		Company’s Variable Interest in Entity		Commitment to Future Additional Investments(1)		Company's Maximum Exposure to Loss in Entity(2)
GolfPark Plaza, S.A.	50	%	$	4,616	$	2,402	$	274	$	7,292	$	99	$	7,391
Price Plaza Alajuela, S.A.	50	%		2,193		1,236		48		3,477		785		4,262
Total			$	6,809	$	3,638	$	322	$	10,769	$	884	$	11,653

⁽¹⁾ The parties intend to seek alternate financing for the project, which could reduce the amount of investments each party would be required to provide.  The parties may mutually agree on changes to the project, which could increase or decrease the amount of contributions each party is required to provide.

⁽²⁾ The maximum exposure is determined by adding the Company’s variable interest in the entity and any explicit or implicit arrangements that could require the Company to provide additional financial support.