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Description of Business and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Aug. 31, 2020
Accounting Policies [Abstract]  
Components of Property, Plant and Equipment 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
2 to 10 years
Furniture, fixtures and office equipment
5 years
Computer hardware and software
3 to 7 years
Transportation equipment
3 years

Property, plant and equipment consists of the following (in thousands):
 
August 31, 2020
 
August 31, 2019
Land and improvements
$
141,715

 
$
146,719

Buildings
1,152,204

 
962,559

Leasehold improvements
1,144,238

 
1,092,787

Machinery and equipment
4,685,611

 
4,262,015

Furniture, fixtures and office equipment
221,709

 
209,257

Computer hardware and software
760,195

 
671,252

Transportation equipment
9,061

 
16,423

Construction in progress
76,337

 
83,234

 
8,191,070

 
7,444,246

Less accumulated depreciation and amortization
4,525,758

 
4,110,496

 
$
3,665,312

 
$
3,333,750


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, 2020 (in thousands):
 
Foreign
Currency
Translation
Adjustment
 
Derivative
Instruments
 
Actuarial
(Loss) Gain
 
Prior
Service Cost
 
Available
for Sale
Securities
 
Total
Balance as of August 31, 2019
$
(14,298
)
 
$
(39,398
)
 
$
(28,033
)
 
$
(608
)
 
$
(457
)
 
$
(82,794
)
Other comprehensive (loss) income before reclassifications
(22,297
)
 
(6,004
)

66,285

 
(17
)
 
(35,963
)
 
2,004

Amounts reclassified from AOCI
—

 
14,406


(4,159
)

(45
)
 
36,420

 
46,622

Other comprehensive (loss) income(1)
(22,297
)
 
8,402

 
62,126

 
(62
)
 
457

 
48,626

Balance as of August 31, 2020
$
(36,595
)
 
$
(30,996
)
 
$
34,093

 
$
(670
)
 
$
—

 
$
(34,168
)
 
(1) 
Actuarial (loss) gain is net of tax of $(12.0) million. Amounts for other components of AOCI are net of tax, which are immaterial.
Reclassification out of Accumulated Other Comprehensive Income
The following table sets forth the amounts reclassified from AOCI into the Consolidated Statements of Operations, and the associated financial statement line item, net of tax, for the periods indicated (in thousands):
 
 
 
 
Fiscal Year Ended August 31,
Comprehensive Income Components
 
Financial Statement Line Item
 
2020
 
2019
 
2018
Realized losses (gains) on derivative instruments:(1)
 
 
 
 
 
 
 
 
Foreign exchange contracts
 
Cost of revenue
 
$
15,507

 
$
21,982

 
$
(9,379
)
Interest rate contracts
 
Interest expense
 
(1,101
)
 
(1,723
)
 
(13,697
)
Actuarial (gain) loss
 
(2) 
 
(4,159
)
 
741

 
1,127

Prior service credit
 
(2) 
 
(45
)
 
(44
)
 
(88
)
Available for sale securities
 
Loss on securities
 
36,420

 
33,333

 
—

Total amounts reclassified from AOCI(3)
 
 
 
$
46,622

 
$
54,289

 
$
(22,037
)
 
(1) 
The Company expects to reclassify $4.7 million into earnings during the next twelve months, which will primarily be classified as a component of cost of revenue.
(2) 
Amounts are included in the computation of net periodic benefit pension cost. Refer to Note 10 – “Postretirement and Other Employee Benefits” for additional information.
(3) 
Amounts are net of tax, which are immaterial for the fiscal years ended August 31, 2020 and 2019. The amount for the fiscal year ended August 31, 2018 includes a reduction to income tax expense related to derivative instruments of $14.8 million.
Schedule of Dilutive Shares Outstanding Not Included in the Computation of Earnings Per Share Potential shares of common stock not included in the computation of earnings per share because their effect would have been antidilutive or because the performance criterion was not met were as follows (in thousands):
 
Fiscal Year Ended August 31,
 
2020
 
2019
 
2018
Restricted stock units
728

 
796

 
2,426