v3.26.3
EMPLOYEES' RETIREMENT PLANS EMPLOYEES' RETIREMENT PLANS (Tables)
12 Months Ended
Aug. 31, 2026
Retirement Benefits [Abstract]  
Changes in Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan
The following tables present a reconciliation of the beginning and ending balances of the pension benefit obligation and the fair value of plan assets resulting from the U.K. Pension Plan and the related amounts recognized in the consolidated balance sheets as of August 31, 2026 and 2025:
U.K. Pension Plan
(in thousands)20262025
Benefit obligation at beginning of year$47,192 $53,192 
Interest cost2,669 2,539 
Actuarial gain(1,112)(6,613)
Benefits paid(3,421)(3,195)
Foreign currency translation138 1,269 
Benefit obligation at end of year$45,466 $47,192 
Fair value of plan assets at beginning of year$46,730 $51,415 
Actual (loss) return on plan assets1,257 (3,096)
Employer contributions326 342 
Benefits paid(3,421)(3,195)
Foreign currency translation126 1,264 
Fair value of plan assets at end of year$45,018 $46,730 
Funded status at end of year liability recognized in the consolidated balance sheets as of August 31,$(448)$(462)
Amounts recognized in AOCL as of August 31,
Net actuarial loss
$12,766 $13,711 
Schedule of Net Periodic Benefit Costs Components of net periodic benefit cost and other supplemental information are detailed below:
U.K. Pension Plan
Year Ended August 31,
(in thousands)202620252024
Interest cost$2,669 $2,539 $2,615 
Expected return on plan assets(1,950)(1,895)(2,065)
Amortization of unrecognized net actuarial loss535 648 622 
Total net periodic benefit cost$1,254 $1,292 $1,172 
Other changes in plan assets and benefit obligations recognized in OCI
Net actuarial gain arising during measurement period$(945)$(2,270)$(496)
Schedule of Weighted-average Assumptions Used
Weighted average assumptions used to determine benefit obligations are detailed below:
U.K. Pension Plan
20262025
Effective discount rate for benefit obligations6.4 %5.9 %
Weighted average assumptions used to determine net periodic benefit gains are detailed below:
U.K. Pension Plan
202620252024
Effective rate for interest on benefit obligations5.9 %5.0 %5.3 %
Expected long-term rate of return5.4 %4.7 %5.0 %
Schedule of Allocation of Plan Assets
The U.K. Pension Plan's weighted average target allocation ranges and actual allocations as a percentage of plan assets, including the notional exposure of future contracts by asset categories, are detailed below:
Pension Assets
Target Percent20262025
Fixed income securities95.0%to100%98.1%98.9%
Cash and other—to5.01.91.1
Total100%100%
The following table presents the fair value of the plan assets by asset class for the U.K. Pension Plan as of August 31, 2026 and 2025. Level 1 assets consist of cash and cash equivalents. Level 2 assets include funds invested in bonds and fixed income securities. The Company had no level 3 assets as part of its U.K. Pension Plan as of August 31, 2026 or 2025.
Fair Value at Measurement Date Using
(in thousands)TotalQuoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable Inputs
(Level 2)
Significant
Unobservable Inputs
(Level 3)
As of August 31, 2026:
Fixed income securities$44,168 $— $44,168 $— 
Cash850 850 — — 
Fair value of U.K. Pension Plan assets$45,018 
As of August 31, 2025:
Fixed income securities$46,201 $— $46,201 $— 
Cash and other529 529 — — 
Fair value of U.K. Pension Plan assets$46,730 
Schedule of Future Pension Benefit Payments
The following table provides the estimated aggregate pension benefit payments that are payable from the U.K. Pension Plan to participants in future years:
(in thousands)U.K. Pension Plan
2027$3,542 
20283,632 
20293,726 
20303,821 
20313,918 
2032 through 203621,147