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Notes Payable, Long-Term Debt and Capital Lease Obligations
 3 Months Ended
Nov. 30, 2016
Notes Payable, Long-Term Debt and Capital Lease Obligations [Abstract]  
Notes Payable, Long-Term Debt and Capital Lease Obligations

6. Notes Payable, Long-Term Debt and Capital Lease Obligations

Notes payable, long-term debt and capital lease obligations outstanding at November 30, 2016 and August 31, 2016 are
summarized below (in thousands):
November 30,August 31,
20162016
8.250% Senior Notes due 2018$398,791$398,552
5.625% Senior Notes due 2020396,435396,212
4.700% Senior Notes due 2022496,205496,041
4.900% Senior Notes due 2023298,389298,329
Borrowings under credit facilities――
Borrowings under loans493,234502,210
Capital lease obligations27,85628,478
Total notes payable, long-term debt and capital lease obligations2,110,9102,119,822
Less current installments of notes payable, long-term debt and
capital lease obligations43,19845,810
Notes payable, long-term debt and capital lease obligations, less
current installments$2,067,712$2,074,012

The $400.0 million of 8.250% senior unsecured notes, $400.0 million of 5.625% senior unsecured notes, $500.0 million of 4.700% senior unsecured notes and $300.0 million of 4.900% senior unsecured notes outstanding are carried at the principal amount of each note, less any unamortized discount. The estimated fair values of the Company's publicly traded debt, including the 8.250%, 5.625% and 4.700% senior notes, were approximately $431.4 million, $433.3 million and $514.5 million respectively, at November 30, 2016. The fair value estimates are based upon observable market data (Level 2 criteria). The estimated fair value of the Company's private debt, the 4.900% senior notes, was approximately $306.1 million, at November 30, 2016. This fair value estimate is based on the Company's indicative borrowing cost derived from discounted cash flows (Level 3 criteria). The carrying amounts of borrowings under credit facilities and under loans approximates fair value as interest rates on these instruments approximates current market rates.