Basis Of Presentation

6 Months Ended

Feb. 29, 2012

Basis Of Presentation [Abstract]

Basis Of Presentation

1. Basis of Presentation

The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) necessary to present fairly the information set forth therein have been included. The accompanying unaudited Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and footnotes included in the Annual Report on Form 10-K of Jabil Circuit, Inc. (the "Company") for the fiscal year ended August 31, 2011. Results for the six month period ended February 29, 2012 are not necessarily an indication of the results that may be expected for the full fiscal year ending August 31, 2012.

Certain amounts in the prior periods' financial statements have been reclassified to conform to the current period's presentation.

During the six months ended February 28, 2011, the Company recorded same day debt borrowings and repayments on a net basis within the Condensed Consolidated Statement of Cash Flows. Correcting this error such that debt payments and borrowings are recorded on a gross basis within the Condensed Consolidated Statement of Cash Flows increased the "payments toward debt agreements" and the "borrowings under debt agreements" lines within the Condensed Consolidated Statement of Cash Flows by $1.0 billion for the six months ended February 28, 2011, with no impact on net cash used in financing activities or other components within the Condensed Consolidated Statement of Cash Flows. The Company assessed the materiality of this error and concluded that the previously issued Condensed Consolidated Statement of Cash Flows for the six months ended February 28, 2011 are not materially misstated because, as discussed above, there was no impact on net cash used in financing activities or other components within the Condensed Consolidated Statement of Cash Flows. The revision had no impact on the Company's previously presented Condensed Consolidated Statements of Operations, Condensed Consolidated Balance Sheets or earnings per share.