v3.26.3
FAIR VALUE (Tables)
 12 Months Ended
Aug. 31, 2026
Fair Value Disclosures [Abstract]  
Financial assets and financial liabilities measured at fair value on a recurring basis The following table summarizes information regarding the Company's financial assets and financial liabilities that were measured at fair value on a recurring basis:
Fair Value Measurements at Reporting Date Using
(in thousands)TotalLevel 1Level 2Level 3
As of August 31, 2026:
Assets:
Investment deposit accounts(1)
$615,675 $615,675 $— $— 
Commodity derivative assets65,332 340 — 64,992 
Foreign exchange derivative assets145 — 145 — 
Liabilities:
Commodity derivative liabilities5,523 5,523 — — 
Foreign exchange derivative liabilities1,247 — 1,247 — 
As of August 31, 2025:
Assets:
Investment deposit accounts(1)
$902,106 $902,106 $— $— 
Commodity derivative assets58,901 5,458 — 53,443 
Foreign exchange derivative assets4,809 — 4,809 — 
Liabilities:
Commodity derivative liabilities282 282 — — 
Foreign exchange derivative liabilities821 — 821 — 
__________________________________
(1) Investment deposit accounts are short-term in nature, and the value is based on principal plus interest.

The fair value of the Level 3 commodity derivatives is estimated using internally developed discounted cash flow models that rely on significant unobservable inputs. The Company forecasts future energy rates using a range of historical prices (the "floating rate"), which is the only significant unobservable input used in the Company's discounted cash flow models. Significant variations in the floating rate could materially impact the fair value measurement. The following table summarizes the range of floating rates used to measure the fair value of the Level 3 commodity derivatives at August 31, 2026 and 2025, which are applied uniformly across each of the Company's Level 3 commodity derivatives:
Floating Rate (PLN)
Year Ended August 31,LowHighAverage
2026348 628 484 
2025346 563 436 
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation
Below is a reconciliation of the beginning and ending balances of the Level 3 commodity derivatives recognized in the consolidated statements of comprehensive income. Amounts presented are before income taxes. The fluctuation in energy rates over time may cause volatility in the fair value estimate and was the primary reason for unrealized gains and losses in OCI in 2026, 2025 and 2024.
(in thousands)Level 3 Commodity Derivatives
Balance, September 1, 2023$194,425 
Unrealized holding loss before reclassification(1)
(148,533)
Reclassification for gain included in net earnings(2)
(7,863)
Balance at August 31, 202438,029 
Unrealized holding gain before reclassification(1)
24,721 
Reclassification for gain included in net earnings(2)
(9,307)
Balance at August 31, 202553,443 
Unrealized holding gain before reclassification(1)
24,435 
Reclassification for gain included in net earnings(2)
(12,886)
Balance at August 31, 2026$64,992 
__________________________________
(1) Unrealized holding gains (losses), net of foreign currency translation, less amounts reclassified, are included in net unrealized holding gain (loss) on derivatives in the consolidated statements of comprehensive income.
(2) Realized gains included in net earnings are recorded in cost of goods sold in the consolidated statements of earnings.