Note 8 - Asset Retirement Obligations

9 Months Ended

May 31, 2014

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligation Disclosure [Text Block]

8. Asset Retirement Obligations

The Company recognizes asset retirement obligations in the period in which they are incurred if a reasonable estimate of fair value can be made. The associated asset retirement costs are capitalized as part of the carrying amount of the long-lived asset. The Company continues to depreciate, on a straight-line basis, the amount added to property, plant and equipment and recognizes accretion expense in connection with the discounted liability over the various remaining lives which range from approximately seven to thirty years.

A reconciliation of the Company’s asset retirement liability is as follows (in thousands):

	May 31, 2014
Beginning balance as of August 31, 2013	$	10,796
Accretion expense		756
Effect of exchange rate changes		68
Ending balance as of May 31, 2014	$	11,620

Asset retirement obligations are included in long-term accrued liabilities in the accompanying Consolidated Balance Sheets.