XML 34 R19.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Stockholders' Equity | 12 Months Ended
--- | ---
Aug. 31, 2017
Stockholders' Equity [Abstract] |
Stockholders' Equity | 12. Stockholders’ Equity
| The Company recognized stock-based compensation expense within selling, general and administrative expense as follows
(in thousands):
|  |  |  | Fiscal Year Ended August 31, |
|  |  |  | 2017 |  | 2016 |  | 2015 |
|  | Restricted stock and stock appreciation rights ("SARS") | $ | 42,122 |  | $ | 52,459 |  | $ | 58,033 |
|  | Employee stock purchase plan |  | 6,334 |  |  | 6,538 |  |  | 4,717 |
|  | Other |  | 88 |  |  | ― |  |  | (187) |
|  |  | Total | $ | 48,544 |  | $ | 58,997 |  | $ | 62,563 |
Equity Compensation Plan The 2011 Stock Award and Incentive Plan (the “2011 Plan”) provides for the grant of restricted stock awards, restricted stock unit awards and other stock-based awards. Upon adoption of the 2011 Plan, the 2002 Stock Incentive Plan (the “2002 Plan”) was terminated. For any outstanding awards granted under the 2002 Plan that expire, are canceled or forfeited after the termination of the 2002 Plan, the shares are available for issuance under the 2011 Plan. Following is a reconciliat ion of the shares available to be issued under the 2011 Plan as of August 31, 2017:
|  |  |  | Shares Available for Grant |
Balance as of August 31, 2016 | 4,898,739 |
| Shares authorized (1) | 4,950,000 |
| SARS canceled | 1,357,386 |
| Restricted stock awards forfeited, net of grants(2) | 1,022,811 |
Balance as of August 31, 2017 | 12,228,936 |
(1) | In January 2017, the Company’s stockholders approved increasing the maximum aggregate number of shares available for
| issuance under the 2011 Plan to 23,300,000.
(2) | Represents the maximum number of shares that can be issued based on the achievement of certain performance criteria.
Stock Appreciation Rights (“SARS”)
| The following table summarizes SARS activity from August 31, 2016 through August 31, 2017: |  |
|  |  |  |  |  |  |  |  |  |  |  | Weighted-
|  |  |  |  |  |  |  |  | Weighted- |  | Average
|  |  |  |  |  | Average |  | Average |  | Remaining
|  |  |  | SARS |  | Intrinsic Value |  | Exercise |  | Contractual
|  |  |  | Outstanding |  | (in thousands) |  | Price |  | Life (years)
Outstanding as of August 31, 2016 | 2,439,066 |  | $ | 1,066 |  | $ | 25.32 |  | 1.13
| SARS canceled | (1,357,386) |  |  |  |  | $ | 29.15 |  |
| SARS exercised | (762,439) |  |  |  |  | $ | 20.78 |  |
Outstanding and exercisable as of August 31, 2017 | 319,241 |  | $ | 3,651 |  | $ | 19.91 |  | 2.10
Restricted Stock Awards Certain key employees have been granted time-based, performance-based and market-based restricted stock unit awards. The time-based restricted stock units granted generally vest on a graded vesting schedule over three years. The performance-based restricted stock units generally vest on a cliff vesting schedule over three to five years and provide a range of vesting possibilities of up to a maximum of 100% o r 150%, depending on the specified performance condition and the level of achievement obtained. The market-based restricted stock units have a vesting condition that is tied to the Company’s stock performance in relation to the Standard and Poor’s (S&P) Su per Composite Technology Hardware and Equipment Index.
| The following table summarizes restricted stock activity from August 31, 2016 through August 31, 2017: |
|  |  |  |  |  |  | Weighted- |
|  |  |  |  |  |  | Average |
|  |  |  |  |  |  | Grant-Date |
|  |  |  |  | Shares |  | Fair Value |
|  |  | Outstanding as of August 31, 2016 | 14,777,178 |  | $ | 21.09 |
|  |  | Changes during the period |  |  |  |  |
|  |  |  | Shares granted(1) | 3,507,690 |  | $ | 23.65 |
|  |  |  | Shares vested | (2,102,049) |  | $ | 20.94 |
|  |  |  | Shares forfeited | (4,530,500) |  | $ | 20.84 |
|  |  | Outstanding as of August 31, 2017 | 11,652,319 |  | $ | 22.00 |
(1) | For those shares granted that are based on the achievement of certain performance criteria, the amount represents the maximum number of shares that can vest. During the fiscal year ended August 31, 2017, the Company awarded approximately 1.8 million time-based restricted stock units, 0.6 million performance-based restricted stock units and 0.4 million market-based restricted stock units based on target performance criteria.
| Following represents the restricted stock and SARS stock-based compensation information for the periods indicated (in thousands):
|  |  |  | Fiscal Year Ended August 31, |
|  |  |  | 2017 |  | 2016 |  | 2015 |
|  | Intrinsic value of SARS exercised | $ | 5,053 |  | $ | 506 |  | $ | 954 |
|  | Fair value of SARS vested | $ | ― |  | $ | ― |  | $ | 2,754 |
|  | Fair value of restricted stock vested | $ | 44,010 |  | $ | 34,857 |  | $ | 33,413 |
|  | Tax benefit (expense) for stock compensation expense(1) | $ | 560 |  | $ | 991 |  | $ | (351) |
|  | Capitalized stock compensation expense(2) | $ | 313 |  | $ | 387 |  | $ | 387 |
|  | Unrecognized stock-based compensation expense - restricted stock | $ | 45,158 |  |  |  |  |  |  |
|  | Remaining weighted-average period for restricted stock expense |  | 1.4 | years |  |  |  |  |  |
(1) | Classified as income tax expense within the Consolidated Statements of Operations. |
(2) | Classified as inventories within the Consolidated Balance Sheets. |
Employee Stock Purchase Plan In January 2017, the Company’s shareholders approved to increase the shares available for issuance under the 2011 Employee Stock Purchase Plan (the “ESPP”) to 12,000,000. Employees are eligible to participate in the ESPP after 90 days of employment with the Company. The ESPP permits eligible employees to purchase common stock through payroll deductions, which may not exceed 10% of an employee’s compensation, as defined in the ESPP, at a price equal to 85% of the fair value of the common stock at the beginning or end of the offering period, whichever is lower. The ESPP is intended to qualify under Section 423 of the Internal Revenue Code. As of August 31, 2017, 5,784,461 shares remained available for issue under the 2011 ESPP.
| The fair value of shares issued under the ESPP was estimated on the commencement date of each offering period using the
Black-Scholes option pricing model. The following weighted-average assumptions were used in the model for each respective period:
|  |  |  | Fiscal Year Ended August 31, |  |
|  |  |  | 2017 |  |  | 2016 |  |  | 2015 |  |
|  |  | Expected dividend yield | 0.8 | % |  | 0.7 | % |  | 0.8 | % |
|  |  | Risk-free interest rate | 0.5 | % |  | 0.3 | % |  | 0.1 | % |
|  |  | Expected volatility (1) | 33.0 | % |  | 28.1 | % |  | 24.5 | % |
|  |  | Expected life | 0.5 years |  |  | 0.5 years |  |  | 0.5 years |  |
(1) | The expected volatility was estimated using the historical volatility derived from the Company's common stock. |
Dividends The following table sets forth certain information relating to the Company’s cash dividends declared to common stockholders during fiscal years 2017 and 2016:
|  |  |  |  |  |  | Total of Cash |  |  |  |
|  | Dividend |  | Dividend |  | Dividends |  | Date of Record for |  | Dividend Cash
|  | Declaration Date |  | per Share |  | Declared |  | Dividend Payment |  | Payment Date
|  | (in thousands, except for per share data)
Fiscal year 2017: | October 20, 2016 |  | $ | 0.08 |  | $ | 15,248 |  | November 15, 2016 |  | December 1, 2016
|  | January 26, 2017 |  | $ | 0.08 |  | $ | 15,051 |  | February 15, 2017 |  | March 1, 2017
|  | April 20, 2017 |  | $ | 0.08 |  | $ | 14,840 |  | May 15, 2017 |  | June 1, 2017
|  | July 20, 2017 |  | $ | 0.08 |  | $ | 14,698 |  | August 15, 2017 |  | September 1, 2017
Fiscal year 2016: | October 14, 2015 |  | $ | 0.08 |  | $ | 15,906 |  | November 16, 2015 |  | December 1, 2015
|  | January 21, 2016 |  | $ | 0.08 |  | $ | 15,947 |  | February 16, 2016 |  | March 1, 2016
|  | April 21, 2016 |  | $ | 0.08 |  | $ | 15,940 |  | May 16, 2016 |  | June 1, 2016
|  | July 21, 2016 |  | $ | 0.08 |  | $ | 15,575 |  | August 15, 2016 |  | September 1, 2016
Share R epurchases In June 2016, the Company’s Board of Directors (the “Board”) authorized the repurchase of up to $400.0 million of the Company’s common stock (the “2016 Share Repurchase Program”). As of August 31, 2017, $400.0 million of shares had been repurchased under the 2016 Share Repurchase Program, which utilized the total amount authorized by the Board. In July 2017, the Board authorized the repurchase of up to $450.0 million of the Company’s common stock (the “2017 Share Repurchase Program”). The 2017 Share Repurchase Program expires on August 31, 2018. A s of August 31, 2017, $449.9 million remains available under the 2017 Share Repurchase Program.

X
- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=65895303&loc=d3e17540-113929 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68057994&loc=d3e25284-112666 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14) -URI http://asc.fasb.org/extlink&oid=27013229&loc=d3e301413-122809 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration