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Notes Payable and Long-Term Debt Outstanding (Detail) (USD $)
In Thousands, unless otherwise specified
May 31, 2012
Aug. 31, 2011
Debt Instrument [Line Items]    
Borrowings under credit facilities $ 290,500 [1] $ 72,100 [1]
Borrowings under loans 33,684 [2] 2,062 [2]
Fair value adjustment related to terminated interest rate swaps on the 7.750% Senior Notes 9,790 11,570
Total notes payable and long-term debt 1,436,572 1,186,754
Less current installments of notes payable and long-term debt 296,418 74,160
Notes payable and long-term debt, less current installments 1,140,154 1,112,594
7.750% Senior Notes Due 2016
   
Debt Instrument [Line Items]    
Senior Notes 304,791 303,501
8.250% Senior Notes Due 2018
   
Debt Instrument [Line Items]    
Senior Notes 397,807 397,521
5.625% Senior Notes Due 2020
   
Debt Instrument [Line Items]    
Senior Notes $ 400,000 $ 400,000
[1] Amended and Restated Credit Facility On March 19, 2012, the Company entered into an amended and restated senior unsecured five-year revolving credit facility (the "Amended and Restated Credit Facility"). The Amended and Restated Credit Facility provides for a revolving credit facility in the initial amount of $1.3 billion, which may, subject to lenders' discretion, potentially be increased up to $1.6 billion and expires on March 19, 2017. Interest and fees on the Amended and Restated Credit Facility advances are based on the Company's non-credit enhanced long-term senior unsecured debt rating as determined by Standard & Poor's Rating Service and Moody's Investor Service. Interest is charged at a rate equal to either 0.175% to 0.850% above the base rate or 1.175% to 1.850% above the Eurocurrency rate, where the base rate represents the greatest of Citibank, N.A.'s prime rate, 0.50% above the federal funds rate, or 1.0% above one-month LIBOR, and the Eurocurrency rate represents adjusted LIBOR for the applicable interest period, each as more fully described in the Amended and Restated Credit Facility agreement. Fees include a facility fee based on the revolving credit commitments of the lenders and a letter of credit fee based on the amount of outstanding letters of credit. The Company, along with its subsidiaries, are subject to the following financial covenants: (1) a maximum ratio of (a) Debt (as defined in the Amended and Restated Credit Facility agreement) to (b) Consolidated EBITDA (as defined in the Amended and Restated Credit Facility agreement) and (2) a minimum ratio of (a) Consolidated EBITDA to (b) interest payable on, and amortization of debt discount in respect of, all Debt and loss on sale of accounts receivables. In addition, the Company is subject to other covenants, such as: limitation upon liens; limitation upon mergers, etc.; limitation upon accounting changes; limitation upon subsidiary debt; limitation upon sales, etc. of assets; limitation upon changes in nature of business; payment restrictions affecting subsidiaries; compliance with laws, etc.; payment of taxes, etc.; maintenance of insurance; preservation of corporate existence, etc.; visitation rights; keeping of books; maintenance of properties, etc.; transactions with affiliates; and reporting requirements.
[2] Borrowings under loans On May 2, 2012, the Company entered into a master lease agreement with a variable interest entity (the "VIE") whereby it sells to and subsequently leases back from the VIE up to $60.0 million in certain machinery and equipment for a period of up to five years. In connection with this transaction, the Company holds a variable interest in the VIE, which was designed to hold debt obligations payable to third-party creditors as proceeds from such debt obligations are utilized to finance the purchase of the machinery and equipment that is then leased by the Company. The Company is the primary beneficiary of the VIE as it has both the power to direct the activities of the VIE that most significantly impact the VIE's economic performance and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. At May 31, 2012, the VIE had approximately $32.2 million of total assets, of which approximately $31.6 million was comprised of a note receivable due from the Company, and approximately $32.3 million of total liabilities, of which approximately $32.2 million were debt obligations to the third-party creditors (as the VIE has utilized approximately $32.2 million of the $60.0 million debt obligation capacity). The third-party creditors have recourse to the Company's general credit only in the event that the Company defaults on its obligations under the terms of the master lease agreement. In addition, the assets held by the VIE can be used only to settle the obligations of the VIE. The Company consolidates the financial statements of the VIE and eliminates all intercompany transactions.