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Postretirement and Other Employee Benefits (Tables)
 12 Months Ended
Aug. 31, 2016
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Reconciliation of Change in Benefit Obligations for Plans
a. Benefit Obligations
The following table provides a reconciliation of the change in the benefit obligations for the plans for fiscal years 2016 and 2015
(in thousands):
Pension Benefits
20162015
Beginning projected benefit obligation$161,230$182,653
Service cost8831,054
Interest cost4,8445,554
Actuarial loss (gain)40,170(5,252)
Curtailment gain―(2,542)
Total benefits paid(5,587)(5,238)
Plan participants’ contributions2728
Amendments―(198)
Acquisitions―1,769
Effect of conversion to U.S. dollars(19,289)(16,598)
Ending projected benefit obligation$182,278$161,230
Fair Values of Plan Assets by Asset Category
The fair values of the plan assets held by the Company by asset category for fiscal years 2016 and 2015 are as follows (in
thousands):
Fair Value Measurements Using Inputs Considered as:
Fair Value at
August 31, 2016Asset AllocationLevel 1Level 2Level 3
Asset Category
Cash and cash equivalents$3,5653%$3,565$―$―
Equity Securities:
Global equity securities(a)41,51529%―41,515―
Debt Securities:
U.K. corporate bonds(b)27,26819%―27,268―
U.K. government bonds(c)34,35924%―34,359
Global government bonds(d)6,1364%―6,136―
Global corporate bonds(e)14,72510%―14,725
Other Investments:
Insurance contracts(f)16,13411%――16,134
Fair value of plan assets$143,702100%$3,565$124,003$16,134

Fair Value Measurements Using Inputs Considered as:
Fair Value at
August 31, 2015Asset AllocationLevel 1Level 2Level 3
Asset Category
Cash and cash equivalents$4,5673%$4,567$―$―
Equity Securities:
Global equity securities(g)24,14318%―24,143―
U.K. equity securities(h)24,21118%―24,211―
Debt Securities:
U.K. corporate bonds(i)50,81738%―50,817―
U.K. government bonds(j)16,86612%―16,866―
Other Investments:
Insurance contracts(f)14,20411%――14,204
Fair value of plan assets$134,808100%$4,567$116,037$14,204

(a)  Global equity securities are categorized as Level 2 and include investments that aim to capture global equity market returns by tracking the Morgan Stanley Capital International (“MSCI”) World Index and other similar world stocks indexes.

(b)  U.K. corporate bonds are categorized as Level 2 and include U.K. corporate issued fixed income investments which are managed and tracked to the respective benchmark (Bank of America Merrill Lynch ("BofAML") Sterling Corporate & Collateralised All-Stocks (Excluding Subordinated Financials)).

(c) U.K. government bonds are categorized as Level 2 and include U.K. government issued inflation-linked income investments which are managed and tracked to the respective benchmarks (FTSE Actuaries UK Index-Linked Gilts Over 5 Years) and a custom benchmark based on the longest gilts in issue).

(d)  Global government bonds are categorized as Level 2 and include emerging market government issued fixed income investments which are managed and tracked to the respective benchmark (J.P.Morgan GBI-EM Global Diversified).

(e)  Global corporate bonds are categorized as Level 2 and include global corporate issued fixed income investments which are managed and tracked to the respective benchmarks (BofAML Developed Market BB/B Global High Yield Constrained Index; BofAML Global High Yield Constrained and Standard & Poor's ("S&P")/Loan Syndications & Trading Association ("LSTA") US Leveraged Loan Hedged).

(f)  The assets related to The Netherlands plan consist of an insurance contract that guarantees the payment of the funded pension entitlements, as well as provides a profit share to the Company. The profit share in this contract is not based on actual investments, but, instead on a notional investment portfolio that is expected to return a pre-defined rate. Insurance contract assets are recorded at fair value, which is determined based on the cash surrender value of the insured benefits which is the present value of the guaranteed funded benefits. Insurance contracts are valued using unobservable inputs (Level 3 inputs), primarily by discounting expected future cash flows relating to benefits paid from a notional investment portfolio in order to determine the cash surrender value of the policy. The unobservable inputs consist of estimated future benefits to be paid throughout the duration of the policy and estimated discount rates, which both have an immaterial impact on the fair value estimate of the contract.

(g)  Global equity securities are categorized as Level 2 and include investments that aim to capture global equity market returns by tracking the Financial Times (London) Stock Exchange (“FTSE”) AW-World (ex-UK) Index and other similar indexes in Germany.

(h)  U.K. equity securities are categorized as Level 2 and include investments in a diversified portfolio that aims to capture the returns of the U.K. equity market. The portfolio tracks the FTSE All-Share Index and invests only in U.K. securities.

(i)  U.K. corporate bonds are categorized as Level 2 and include U.K. corporate issued fixed income investments which are managed and tracked to the respective benchmark (AAA-AA-A Bonds-Over 15Y Index).

(j) U.K. government bonds are categorized as Level 2 and include U.K. government-issued fixed income investments which are managed and tracked to the respective benchmark (FTSE U.K. Over 15 Years Gilts Index and FTSE U.K. Over 5 Years Index-Linked).
Reconciliation of Changes in Pension Plan Assets
The following table provides a reconciliation of the changes in the pension plan assets for the year between measurement dates
for fiscal years 2016 and 2015 (in thousands):
Pension Benefits
20162015
Beginning fair value of plan assets $134,808$136,451
Actual return on plan assets 29,7349,810
Acquisitions ―1,756
Employer contributions 3,3913,499
Benefits paid from plan assets (5,268)(5,037)
Plan participants’ contributions 2728
Effect of conversion to U.S. dollars(18,990)(11,699)
Ending fair value of plan assets$143,702$134,808
Reconciliation of Funded Status of Plans to Consolidated Balance Sheets
c. Funded Status
The following table provides a reconciliation of the funded status of the plans to the Consolidated Balance Sheets for fiscal
years 2016 and 2015 (in thousands):
Pension Benefits
20162015
Funded Status
Ending fair value of plan assets $143,702$134,808
Ending projected benefit obligation (182,278)(161,230)
Under or unfunded status $(38,576)$(26,422)
Consolidated Balance Sheet Information
Accrued benefit liability, current $(383)$(140)
Accrued benefit liability, noncurrent (38,193)(26,282)
Net liability recorded at August 31 $(38,576)$(26,422)
Amounts recognized in accumulated other comprehensive loss
consist of:
Net actuarial loss $44,155$32,986
Prior service credit (1,255)(1,405)
Accumulated other comprehensive loss, before taxes$42,900$31,581
Estimated Amount that will be Amortized from Accumulated Other Comprehensive Loss into Net Periodic Benefit Cost
The following table provides the estimated amount that will be amortized from accumulated other comprehensive loss into net
periodic benefit cost in fiscal year 2017 (in thousands):
Pension Benefits
Recognized net actuarial loss$1,919
Amortization of prior service credit(139)
Total$1,780
Information for Plans with Accumulated Benefit Obligation in Excess of Plan Assets
The accumulated benefit obligation for the plans was $171.6 million and $152.8 million at August 31, 2016 and 2015,
respectively.
The following table provides information for the plans with an accumulated benefit obligation in excess of plan assets for fiscal
years 2016 and 2015 (in thousands):
August 31,
20162015
Projected benefit obligation $182,278$161,230
Accumulated benefit obligation $171,589$152,818
Fair value of plan assets $143,702$134,808
Information about Net Periodic Benefit Cost for Plans
d. Net Periodic Benefit Cost
The following table provides information about net periodic benefit cost for the plans for fiscal years 2016, 2015 and 2014 (in
thousands):
Pension Benefits
201620152014
Service cost $883$1,054$1,225
Interest cost 4,8445,5546,819
Expected long-term return on plan assets (5,560)(5,778)(6,167)
Recognized actuarial loss 1,0461,7232,817
Net curtailment gain ―(2,542)(107)
Amortization of prior service credit (139)(147)(198)
Net periodic benefit cost$1,074$(136)$4,389
Estimated Future Benefit Payments
The estimated future benefit payments, which reflect expected future service, as appropriate, are as follows (in thousands):
Fiscal Year Ending August 31,Amount
2017$4,669
20184,605
20195,656
20205,765
20215,309
Years 2022 through 202635,745
Benefit Obligations  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Weighted-Average Actuarial Assumptions
Weighted-average actuarial assumptions used to determine the benefit obligations for the plans for fiscal years 2016 and 2015
were as follows:
Pension Benefits
20162015
Expected long-term return on plan assets3.3%4.4%
Rate of compensation increase4.1%4.3%
Discount rate1.7%3.2%
Net Periodic Benefit Cost  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Weighted-Average Actuarial Assumptions
Weighted-average actuarial assumptions used to determine net periodic benefit cost for the plans for fiscal years 2016, 2015 and
2014 were as follows:
Pension Benefits
201620152014
Expected long-term return on plan assets 4.3%4.4%5.1%
Rate of compensation increase 2.4%3.2%4.0%
Discount rate 2.9%1.8%3.0%
The expected return on plan assets assumption used in calculating net periodic pension cost is based on historical actual return
experience and estimates of future long-term performance with consideration to the expected investment mix of the plan assets.