Description of Business and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Aug. 31, 2014

Accounting Policies [Abstract]

Estimated Useful Lives for Major Classes of Depreciable Assets

Estimated useful lives for major classes of depreciable assets are as follows:

Asset Class	Estimated Useful Life
Buildings	Up to 35 years
Leasehold improvements	Shorter of lease term or useful life of the improvement
Machinery and equipment	5 to 10 years
Furniture, fixtures and office equipment	5 years
Computer hardware and software	3 to 7 years
Transportation equipment	3 years

Calculation of Basic and Diluted Earnings Per Share

The following table sets forth the calculation of basic and diluted earnings per share (in thousands, except per share data).

	Fiscal Year Ended August 31,
	2014			2013			2012
Numerator:
(Loss) income from continuing operations, net of tax	$	(1,588	)	$	319,483		$	333,683
Net income (loss) attributable to noncontrolling interests, net of tax		952			(1,391	)		1,402
(Loss) income from continuing operations attributable to Jabil Circuit, Inc., net of tax	$	(2,540	)	$	320,874		$	332,281
Discontinued operations attributable to Jabil Circuit, Inc., net of tax		243,853			50,608			62,406
Net income attributable to Jabil Circuit, Inc.	$	241,313		$	371,482		$	394,687
Denominator for basic and diluted earnings per share:
Denominator for basic earnings per share		202,497			203,096			206,160
Dilutive common shares issuable under the employee stock purchase plan and upon exercise of stock options and stock appreciation rights		—			33			315
Dilutive unvested restricted stock awards		—			4,686			4,706
Denominator for diluted earnings per share		202,497			207,815			211,181
(Loss) earnings per share attributable to the stockholders of Jabil Circuit, Inc.:
Basic:
(Loss) income from continuing operations, net of tax	$	(0.01	)	$	1.58		$	1.61
Discontinued operations, net of tax	$	1.20		$	0.25		$	0.30
Net income	$	1.19		$	1.83		$	1.91
Diluted:
(Loss) income from continuing operations, net of tax	$	(0.01	)	$	1.54		$	1.57
Discontinued operations, net of tax	$	1.20		$	0.24		$	0.30
Net income	$	1.19		$	1.79		$	1.87

Summary of Changes in AOCI

The following table sets forth the changes in AOCI, net of tax, by component during the fiscal year ended August 31, 2014 (in thousands):

	Foreign currency translation adjustment			Derivative instruments			Actuarial loss			Prior service cost			Unrealized loss on available for sale securities			Total
Balance at August 31, 2013	$	125,594		$	(5,050	)	$	(40,258	)	$	962			—		$	81,248
Other comprehensive income before reclassifications		8,652			2,469			(2,700	)		432			(1,513	)		7,340
Amounts reclassified from AOCI		(10,835	)		7,153			2,254			(198	)		—			(1,626	)
Other comprehensive income		(2,183	)		9,622			(446	)		234			(1,513	)		5,714
Balance at August 31, 2014	$	123,411		$	4,572		$	(40,704	)	$	1,196		$	(1,513	)	$	86,962

Summary of Amounts Reclassified Out of Accumulated Other Comprehensive Income

The following table sets forth the amounts reclassified out of AOCI, net of tax, during the fiscal year ended August 31, 2014 (in thousands):

Details about AOCI Components	Amounts Reclassified from AOCI during the fiscal year ended August 31, 2014			Affected Line Item in the Consolidated Statement of Operations
Foreign currency translation adjustments	$	10,835		Gain on sale of discontinued operations, net of tax
Gains (losses) on derivative instruments:
Forward foreign exchange contracts	$	(3,475	)	Net revenue
Forward foreign exchange contracts		1,106		Cost of revenue
Forward foreign exchange contracts		(258	)	Selling, general and administrative
Forward foreign exchange contracts		(576	)	Income from discontinued operations, net of tax
Interest rate swap		(3,950	)	Interest expense
Total loss on derivative instruments	$	(7,153	)
Defined benefit pension plan items:
Recognized actuarial loss		(2,817	)	(a)
Recognized actuarial gain		563		Gain on sale of discontinued operations, net of tax
Total actuarial loss	$	(2,254	)
Amortization of prior service cost	$	198		(a)
Total reclassified	$	1,626

(a) These accumulated other comprehensive income components are included in the computation of net periodic pension cost. Refer to Note 9 – “Postretirement and Other Employee Benefits” for additional details.