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CREDIT ARRANGEMENTS
 9 Months Ended
May 31, 2026
Debt Disclosure [Abstract]  
Credit arrangements
NOTE 8. CREDIT ARRANGEMENTS

Long-term debt was as follows: 

(in thousands)Weighted Average Interest Rate as of May 31, 2026May 31, 2026August 31, 2025
2030 Notes4.125%$300,000 $300,000 
2031 Notes3.875%300,000 300,000 
2032 Notes4.375%300,000 300,000 
2033 Notes5.750%1,000,000 — 
2035 Notes6.000%1,000,000 — 
Series 2022 Bonds, due 20474.000%145,060 145,060 
Series 2025 Bonds, due 20324.625%150,000 150,000 
Short-term borrowings4.630%33,012 — 
Other4.811%8,819 10,108 
Finance leases5.132%192,029 158,917 
Total debt3,428,920 1,364,085 
Less unamortized debt issuance costs(32,551)(14,051)
Plus unamortized bond premium4,116 4,261 
Total amounts outstanding3,400,485 1,354,295 
Less current maturities of long-term debt(88,792)(44,289)
Long-term debt$3,311,693 $1,310,006 

The Company's credit arrangements require compliance with certain covenants, including interest coverage and debt to capitalization ratios, and as of May 31, 2026, the Company was in compliance with all financial covenants.

Capitalized interest was $6.0 million and $14.9 million during the three and nine months ended May 31, 2026, respectively, compared to $3.0 million and $7.5 million, respectively, during the corresponding periods.

Senior Notes Activity

In November 2025, the Company issued $1.0 billion of 5.750% senior unsecured notes due November 2033 (the "2033 Notes") and $1.0 billion of 6.000% senior unsecured notes due December 2035 (the "2035 Notes"). Interest on the 2033 Notes is payable semiannually on May 15 and November 15 and interest on the 2035 Notes is payable semiannually on June 15 and December 15. Gross proceeds from the issuance of the 2033 Notes and the 2035 Notes were used to facilitate the closing of the Foley Acquisition. Aggregate fees and issuance costs, including rating agency, legal, and other fees, associated with the 2033 Notes and the 2035 Notes were immaterial for the three months ended May 31, 2026, and were $21.3 million for the nine months ended May 31, 2026. For more information on the Foley Acquisition, see Note 2, Acquisitions.

Series 2025 Bonds

In May 2025, the Company issued $150.0 million in original aggregate principal amount of tax-exempt bonds (the “Series 2025 Bonds”). The Series 2025 Bonds accrue interest at a fixed rate of 4.625%, payable semiannually on April 15 and October 15 of each year. The Series 2025 Bonds have a mandatory tender for purchase on May 15, 2032, and will mature in 2055.

Credit Facilities

The Company is party to a certain Sixth Amended and Restated Credit Agreement (as amended, restated, supplemented or otherwise modified, the "Credit Agreement"). On December 17, 2025, the Company entered into the Third Amendment and Commitment Increase to the Credit Agreement (the “Third Amendment”), which increased the borrowing capacity under the revolving credit facility (the "Revolver") from $600.0 million to $1.0 billion and extended the maturity date from October 26, 2029 to December 17, 2030. The Company had no amounts drawn under the Revolver at May 31, 2026 or August 31, 2025. The availability under the Revolver was reduced by outstanding standby letters of credit totaling $1.0 million at both May 31, 2026 and August 31, 2025.
CMC Poland Sp. z.o.o., a subsidiary of the Company, had credit facilities in Poland totaling PLN 600.0 million as of May 31, 2026 and August 31, 2025, equivalent to $165.3 million and $164.5 million, respectively. There were no amounts outstanding under these facilities as of May 31, 2026 or August 31, 2025. The available balance of these credit facilities was reduced by outstanding standby letters of credit, guarantees and/or other financial assurance instruments, totaling $2.0 million and $2.7 million as of May 31, 2026 and August 31, 2025, respectively.

Accounts Receivable Facility
The Poland accounts receivable facility had a limit of PLN 288.0 million as of May 31, 2026 and August 31, 2025, equivalent to $79.4 million and $78.9 million, respectively. The Company had outstanding advance payments totaling PLN 119.8 million, or $33.0 million, under the Poland accounts receivable facility as of May 31, 2026, compared to no advance payments outstanding as of August 31, 2025.