Income Taxes (Tables)

12 Months Ended

Aug. 31, 2017

Income Taxes [Abstract]

Income (Loss) from Continuing Operations Before Income Taxes and Noncontrolling Interests

5. Income Taxes
Provision for Income Taxes
		Income (loss) from continuing operations before income tax expense is summarized below (in thousands):
				Fiscal Year Ended August 31,
				2017		2016		2015
			U.S.(1)	$	(373,690)	$	(317,427)	$	(295,521)
			Non-U.S.(1)		629,923		704,472		727,167
				$	256,233	$	387,045	$	431,646
	(1)	The U.S. and non-U.S. components of income (loss) from continuing operations before income tax expense include
		the elimination of intercompany foreign dividends paid to the U.S.

Income Tax Expense (Benefit)

Income tax expense (benefit) is summarized below (in thousands):
	Fiscal Year Ended August 31,		Current		Deferred		Total
	2017:	U.S. – Federal	$	2,436	$	253	$	2,689
		U.S. – State		12		30		42
		Non-U.S.		188,872		(62,537)		126,335
			$	191,320	$	(62,254)	$	129,066
	2016:	U.S. – Federal	$	(649)	$	73	$	(576)
		U.S. – State		(166)		9		(157)
		Non-U.S.		157,069		(24,187)		132,882
			$	156,254	$	(24,105)	$	132,149
	2015:	U.S. – Federal	$	1,169	$	(1,653)	$	(484)
		U.S. – State		164		(300)		(136)
		Non-U.S.		147,199		(9,118)		138,081
			$	148,532	$	(11,071)	$	137,461

Reconciliations of Income Tax Expense at U.S. Federal Statutory Income Tax Rate Compared to Actual Income Tax Expense

	Reconciliations of the income tax expense at the U.S. federal statutory income tax rate compared to the actual income tax
expense are summarized below (in thousands):
			Fiscal Year Ended August 31,
			2017		2016		2015
		Tax at U.S. federal statutory income tax rate (35%)	$	89,682	$	135,470	$	151,076
		State income taxes, net of federal tax benefit		(8,474)		(5,121)		(4,474)
		Impact of foreign tax rates		(109,466)		(144,521)		(157,827)
		Permanent impact of non-deductible cost		7,336		3,408		8,951
		Income tax credits		(16,254)		(5,040)		(12,773)
		Changes in tax rates on deferred tax assets and liabilities		688		182		(1,206)
		Valuation allowance		37,934		11,770		72,604
		Non-deductible equity compensation		11,531		18,350		11,600
		Impact of intercompany charges and dividends		98,052		94,596		49,843
		Other, net		18,037		23,055		19,667
		Total income tax expense	$	129,066	$	132,149	$	137,461

Deferred Tax Assets and Liabilities

Deferred Tax Assets and Liabilities
	The significant components of the deferred tax assets and liabilities are summarized below (in thousands):
				Fiscal Year Ended August 31,
				2017		2016
	Deferred tax assets:
		Net operating loss carry forward		$	268,853	$	319,685
		Receivables			7,497		8,643
		Inventories			11,618		6,970
		Compensated absences			10,981		9,080
		Accrued expenses			93,413		75,749
		Property, plant and equipment, principally due to differences in
			depreciation and amortization		81,954		52,088
		U.S. federal and state tax credits			57,122		58,725
		Foreign jurisdiction tax credits			24,641		14,464
		Equity compensation – U.S.			16,460		17,641
		Equity compensation – Non-U.S.			2,700		3,873
		Cash flow hedges			―		2,055
		Other			14,573		18,767
		Total deferred tax assets before valuation allowances			589,812		587,740
		Less valuation allowances			(285,559)		(344,828)
		Net deferred tax assets		$	304,253	$	242,912
	Deferred tax liabilities:
		Unremitted earnings of non-U.S. subsidiaries			86,202		88,445
		Intangible assets			48,229		54,130
		Cash flow hedges			8,564		―
		Other			4,863		5,768
		Total deferred tax liabilities		$	147,858	$	148,343
	Net deferred tax assets			$	156,395	$	94,569

Reconciliations of Unrecognized Tax Benefits

Unrecognized Tax Benefits
	Reconciliations of the unrecognized tax benefits are summarized below (in thousands):
				Fiscal Year Ended August 31,
				2017		2016		2015
		Beginning balance		$	149,898	$	154,648	$	229,684
		Additions for tax positions of prior years			2,155		7,974		4,189
		Reductions for tax positions of prior years			(12,233)		(20,045)		(7,919)
		Additions for tax positions related to current year			77,807		25,892		21,541
		Adjustments for tax positions related to acquired entities			―		―		1,687
		Cash settlements			(2,298)		(6,553)		(11,806)
		Reductions from lapses in statutes of limitations			(10,446)		(7,099)		(1,843)
		Reductions from settlements with taxing authorities			(6,061)		(1,787)		(72,812)
		Foreign exchange rate adjustment			2,533		(3,132)		(8,073)
		Ending balance		$	201,355	$	149,898	$	154,648
		Unrecognized tax benefits that would affect the
			effective tax rate (if recognized)	$	75,223	$	72,152	$	80,094