Accumulated Other Comprehensive (Loss) Income (Tables)

9 Months Ended

May 31, 2021

Summary of Changes in Accumulated Other Comprehensive (Loss) Income

The following table sets forth the changes in accumulated other comprehensive (loss) income (“AOCI”), net of tax, by component for the nine months ended May 31, 2021 (in thousands):


	Foreign Currency Translation Adjustment		Derivative Instruments		Actuarial Loss		Prior Service Cost		Total
Balance as of August 31, 2020	$	(36,595)	$	(30,996)	$	34,093	$	(670)	$	(34,168)
Other comprehensive income (loss) before reclassifications	25,613		64,113		(256)		—		89,470
Amounts reclassified from AOCI	—		(40,580)		—		—		(40,580)
Other comprehensive income (loss)(1)	25,613		23,533		(256)		—		48,890
Balance as of May 31, 2021	$	(10,982)	$	(7,463)	$	33,837	$	(670)	$	14,722

(1)Amounts are net of tax, which are immaterial.

Summary of Reclassification from AOCI

The following table sets forth the amounts reclassified from AOCI into the Condensed Consolidated Statements of Operations, and the associated financial statement line item, net of tax, for the periods indicated (in thousands):


		Three months ended				Nine months ended
Comprehensive Income Components	Financial Statement Line Item	May 31, 2021		May 31, 2020		May 31, 2021		May 31, 2020
Realized (gains) losses on derivative instruments:(1)
Foreign exchange contracts	Cost of revenue	$	(4,309)	$	16,451	$	(43,021)	$	20,648
Interest rate contracts	Interest expense	814		(431)		2,441		(1,293)

Total amounts reclassified from AOCI(2)		$	(3,495)	$	16,020	$	(40,580)	$	19,355

(1)The Company expects to reclassify $7.9 million into earnings during the next twelve months, which will primarily be classified as a component of cost of revenue.

(2)Amounts are net of tax, which are immaterial for the three months and nine months ended May 31, 2021 and 2020.