Employee Benefit And Cash Incentive Plans

12 Months Ended

Aug. 31, 2015

Employee Benefit And Cash Incentive Plans [Abstract]

Employee Benefit And Cash Incentive Plans

14.  Employee Benefit and Cash Incentive Plans

The Company sponsors a qualified defined contribution 401(k) plan for employees meeting certain eligibility requirements.  Under the plan, employees are entitled to make pre-tax contributions.  The Company matches an amount equal to the employee’s contributions up to a maximum of 6% of the employee’s salaries depending on years of service.  The Company’s contributions during fiscal years 2015,  2014 and 2013 were $1.6 million, $1.3 million and $1.9 million, respectively. 

The Company has short-term and long-term cash incentive plans (the “Incentive Plans”) that apply to certain employees, and grants of awards under the Incentive Plans are at all times subject to the approval of the Company’s Board of Directors.  Under certain awards pursuant to the Incentive Plans, if predetermined earnings goals are met, a predetermined percentage of the employee’s salary may be paid in the form of a bonus.  The Company recognized as expense incentive bonuses of $12.4 million, $9.5 million and $8.2 million during fiscal years 2015,  2014 and 2013, respectively.