v3.26.1
DERIVATIVES
 6 Months Ended
Feb. 28, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives
NOTE 9. DERIVATIVES

As of February 28, 2026 and August 31, 2025, the notional values of the Company's commodity contract commitments were $589.2 million and $453.4 million, respectively, and the notional values of the Company's foreign currency contract commitments were $304.3 million and $279.3 million, respectively.

The following table provides information regarding the Company's commodity contract commitments as of February 28, 2026:
CommodityPosition   Total
CopperLong5,082  MT
CopperShort11,730  MT
ElectricityLong2,695,000 MW(h)
Natural GasLong4,762,000 MMBtu
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MT = Metric ton
MW(h) = Megawatt hour
MMBtu = Million British thermal units

The following table summarizes the location and amounts of the fair value of the Company's derivative instruments as reported in the condensed consolidated balance sheets:
(in thousands)Primary LocationFebruary 28, 2026August 31, 2025
Derivative assets:
CommodityPrepaid and other current assets$12,283 $14,957 
CommodityOther noncurrent assets44,899 43,944 
Foreign exchangePrepaid and other current assets3,936 4,809 
Derivative liabilities:
CommodityOther accrued expenses and payables$5,715 $282 
CommodityOther noncurrent liabilities465 — 
Foreign exchangeOther accrued expenses and payables873 809 
Foreign exchangeOther noncurrent liabilities— 12 
The following table summarizes the effects of derivatives not designated as hedging instruments on the condensed consolidated statements of earnings (loss). All other activity related to the Company's derivatives not designated as hedging instruments was immaterial for the periods presented.
Gain (Loss) on Derivatives Not Designated as Hedging Instruments (in thousands)Three Months Ended February 28,Six Months Ended February 28,
Primary Location2026202520262025
CommodityCost of goods sold$(14,823)$(8,484)$(24,179)$(4,742)
Foreign exchangeSG&A expenses3,570 5,186 4,683 2,014 

The following tables summarize the effects of derivatives designated as cash flow hedging instruments on the condensed consolidated statements of comprehensive income (loss) and condensed consolidated statements of earnings (loss). Amounts presented do not include the effects of foreign currency translation adjustments.
Effective Portion of Derivatives Designated as Cash Flow Hedging Instruments Gain Recognized in OCI, Net of Income Taxes (in thousands)Three Months Ended February 28,Six Months Ended February 28,
2026202520262025
Commodity$5,029 $22,690 $7,861 $23,102 
Foreign exchange1 5 2 13 

Gain on Derivatives Designated as Cash Flow Hedging Instruments Reclassified from AOCL into Net Earnings (Loss) (in thousands)
Three Months Ended February 28,Six Months Ended February 28,
Primary Location2026202520262025
CommodityCost of goods sold$6,344 $2,998 $9,222 $4,571 
Foreign exchangeSG&A expenses9 42 15 107 
The Company's natural gas and electricity commodity derivatives accounted for as cash flow hedging instruments have maturities extending to February 2029 and December 2034, respectively. Included in the AOCL balance as of February 28, 2026 was an estimated net gain of $10.6 million from cash flow hedging instruments that is expected to be reclassified into net earnings (loss) within the twelve months following February 28, 2026. Cash flows associated with the cash flow hedging instruments are recorded as cash flows from operating activities in the condensed consolidated statements of cash flows. See Note 10, Fair Value, for the fair value of derivative instruments recorded in the condensed consolidated balance sheets.