| Accumulated Other Comprehensive Income |
Note 13 — Accumulated Other Comprehensive Income
The changes in accumulated other comprehensive income (loss), net of tax, were as follows:
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Change in Funded
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Foreign Currency
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Restricted
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Status of
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Translation
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Investments
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Pension Plans
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Adjustment
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Total
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Balance at August 31, 2018
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$
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126
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$
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(5,796)
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$
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(6,666)
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$
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(12,336)
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Other comprehensive gains (losses) before reclassifications (1)
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(12)
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—
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(956)
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(968)
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Reclassifications to net income of previously deferred (gains) losses (2)
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(1)
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618
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—
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617
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Other comprehensive income (loss)
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(13)
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618
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(956)
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(351)
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Balance at May 31, 2019
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$
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113
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$
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(5,178)
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$
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(7,622)
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$
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(12,687)
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Balance at August 31, 2019
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$
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154
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$
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(6,271)
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$
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(8,207)
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$
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(14,324)
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Other comprehensive gains (losses) before reclassifications (3)
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29
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—
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318
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347
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Reclassifications to net income of previously deferred (gains) losses (4)
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(24)
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444
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—
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420
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Other comprehensive income (loss)
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5
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444
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318
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767
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Adoption of ASU 2018-02 (5)
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—
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(1,388)
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—
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(1,388)
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Balance at May 31, 2020
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$
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159
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$
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(7,215)
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$
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(7,889)
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$
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(14,945)
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(1)
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Net of tax expense of $4, $0 and $0, respectively. |
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(2)
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Net of tax benefit of $1, $218 and $0, respectively. |
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(3)
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Net of tax benefit of $11, $0 and $0, respectively. |
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(4)
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Net of tax expense of $8, tax benefit of $156 and $0, respectively. |
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(5)
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See Note 2 for further information related to the adoption of ASU 2018-02. |
The following table summarizes the reclassifications from accumulated other comprehensive income (loss) to the unaudited condensed consolidated statements of income:
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Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive
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Income (Loss) into Income
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Three Months Ended May 31,
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Nine Months Ended May 31,
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Location of Gain (Loss) Reclassified from Accumulated
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2020
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2019
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2020
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2019
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Other Comprehensive Income (Loss) into Income
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Gains on Restricted Investments:
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Realized loss (gain) on sale of restricted investments
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$
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(4)
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$
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(6)
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$
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(32)
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$
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(2)
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Selling, general and administrative expenses
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Tax expense (benefit)
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1
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2
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8
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1
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Gain net of tax
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$
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(3)
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$
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(4)
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$
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(24)
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$
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(1)
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Loss on Funded Pension Plan adjustments:
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Amortization of prior pension service costs and unrecognized losses
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$
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175
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$
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114
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$
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525
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$
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352
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Other income (expense)
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Settlement and curtailment loss
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75
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11
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75
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484
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Other income (expense)
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Tax expense (benefit)
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(65)
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(34)
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(156)
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(218)
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Loss net of tax
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$
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185
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$
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91
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$
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444
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$
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618
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Total net loss reclassified for the period
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$
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182
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$
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87
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$
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420
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$
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617
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