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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
May 31, 2024
May 31, 2023
May 31, 2024
May 31, 2023
Statement of Comprehensive Income [Abstract]        
Net income $ 32,489 $ 29,572 $ 109,807 $ 93,824
Other Comprehensive Income (Loss), net of tax:        
Foreign currency translation adjustments [1] (5,181) 15,285 5,053 26,599
Defined benefit pension plan:        
Net gain/(loss) arising during period (5) (22) 15 (81)
Amortization of prior service cost and actuarial gains included in net periodic pensions cost 96 37 287 111
Total defined benefit pension plan     302 30
Derivative instruments:        
Unrealized gains on change in derivative obligations [2] 807 3,060 2,745 2,525
Unrealized losses on change in fair value of interest rate swaps [2] (508) (4,271) (4,188) (5,904)
Amounts reclassified from accumulated other comprehensive income to other expense, net for settlement of derivatives [2] 0 11 0 2,733
Total derivative instruments [2] 299 (1,200) (1,443) (646)
Other comprehensive income (loss) (4,791) 14,100 3,912 25,983
Comprehensive income $ 27,698 $ 43,672 $ 113,719 $ 119,807
[1] Translation adjustments arising in translating the financial statements of a foreign entity have no effect on the income taxes of that foreign entity. They may, however, affect: (a) the amount, measured in the parent entity's reporting currency, of withholding taxes assessed on dividends paid to the parent entity and (b) the amount of taxes assessed on the parent entity by the government of its country. The Company has determined that the reinvestment of earnings of its foreign subsidiaries are indefinite because of the long-term nature of the Company's foreign investment plans. Therefore, deferred taxes are not provided for on translation adjustments related to non-remitted earnings of the Company's foreign subsidiaries.
[2] See Note 8 - Derivative Instruments and Hedging Activities.