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Stockholders' Equity (Tables) | 12 Months Ended
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Aug. 31, 2021
Share-based Payment Arrangement [Abstract] |
Schedule of Recognized Stock-based Compensation Expense | The Company recognized stock-based compensation expense within selling, general and administrative expense as follows (in millions):
| Fiscal Year Ended August 31,
| 2021 |  | 2020 |  | 2019
Restricted stock units | $ | 91 |  |  | $ | 74 |  |  | $ | 54 |
Employee stock purchase plan | 11 |  |  | 9 |  |  | 7 |
Total | $ | 102 |  |  | $ | 83 |  |  | $ | 61 |
Schedule of Shares Available for Issuance | Following is a reconciliation of the shares available to be issued under the 2021 EIP as of August 31, 2021:
| Shares Available for Grant
Balance as of August 31, 2020 | 10,609,508 |
Shares authorized | 2,233,503 |
Restricted stock units granted, net of forfeitures(1) | (1,861,711) |
Balance as of August 31, 2021 | 10,981,300 |
(1)Represents the maximum number of shares that can be issued based on the achievement of certain performance criteria.
Schedule of Summary of Option Activity | The following table summarizes SARS activity from August 31, 2020 through August 31, 2021:
| SARS Outstanding |  | Average Intrinsic Value (in thousands) |  | Weighted- Average Exercise Price |  | Weighted- Average Remaining Contractual Life (years)
Outstanding as of August 31, 2020 | 15,000 |  |  | $ | 235 |  |  | $ | 18.49 |  |  | 1.13
SARS exercised | (15,000) |  |  |  |  | $ | 18.49 |  |  |
Outstanding and exercisable as of August 31, 2021 | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Schedule of Restricted Stock Activity | The following table summarizes restricted stock units activity from August 31, 2020 through August 31, 2021:
| Shares |  | Weighted- Average Grant-Date Fair Value
Outstanding as of August 31, 2020 | 6,337,524 |  |  | $ | 32.64 |
Changes during the period |  |  |
Shares granted(1) | 2,304,115 |  |  | $ | 40.11 |
Shares vested | (2,290,104) |  |  | $ | 30.17 |
Shares forfeited | (442,404) |  |  | $ | 32.38 |
Outstanding as of August 31, 2021 | 5,909,131 |  |  | $ | 36.51 |
(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, 2021, the Company awarded approximately 1.2 million time-based restricted stock units, 0.4 million performance-based restricted stock units and 0.3 million market-based restricted stock units based on target performance criteria.
Schedule of Share-based Compensation Information | The following table represents the restricted stock units and SARS stock-based compensation information for the periods indicated (in millions):
| Fiscal Year Ended August 31,
| 2021 |  | 2020 |  | 2019
Intrinsic value of SARS exercised | $ | — |  |  | $ | 2 |  |  | $ | — |
Fair value of restricted stock units vested | $ | 69 |  |  | $ | 56 |  |  | $ | 50 |
Tax benefit for stock compensation expense(1) | $ | 1 |  |  | $ | 1 |  |  | $ | 1 |
Unrecognized stock-based compensation expense — restricted stock units | $ | 35 |  |  |  |  |
Remaining weighted-average period for restricted stock units expense | 1.4 years |  |  |  |
(1)Classified as income tax expense within the Consolidated Statements of Operations.
Schedule of Weighted Average Assumptions Used in Black-Scholes Option Pricing Model | 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,
| 2021 |  | 2020 |  | 2019
Expected dividend yield | 0.5 | % |  | 0.4 | % |  | 0.6 | %
Risk-free interest rate | 0.1 | % |  | 1.9 | % |  | 2.3 | %
Expected volatility (1) | 32.9 | % |  | 30.7 | % |  | 28.6 | %
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.
Cash Dividends Declared to Common Stockholders | The following table sets forth certain information relating to the Company’s cash dividends declared to common stockholders during fiscal years 2021 and 2020:
| Dividend Declaration Date |  | Dividend per Share |  | Total of Cash Dividends Declared |  | Date of Record for Dividend Payment |  | Dividend Cash Payment Date
| (in millions, except for per share data)
Fiscal Year 2021: | October 15, 2020 |  | $ | 0.08 |  |  | $ | 12 |  |  | November 16, 2020 |  | December 2, 2020
| January 21, 2021 |  | $ | 0.08 |  |  | $ | 12 |  |  | February 15, 2021 |  | March 2, 2021
| April 22, 2021 |  | $ | 0.08 |  |  | $ | 12 |  |  | May 14, 2021 |  | June 2, 2021
| July 22, 2021 |  | $ | 0.08 |  |  | $ | 12 |  |  | August 13, 2021 |  | September 2, 2021
Fiscal Year 2020: | October 17, 2019 |  | $ | 0.08 |  |  | $ | 13 |  |  | November 15, 2019 |  | December 2, 2019
| January 23, 2020 |  | $ | 0.08 |  |  | $ | 13 |  |  | February 14, 2020 |  | March 4, 2020
| April 15, 2020 |  | $ | 0.08 |  |  | $ | 12 |  |  | May 15, 2020 |  | June 3, 2020
| July 16, 2020 |  | $ | 0.08 |  |  | $ | 12 |  |  | August 14, 2020 |  | September 2, 2020
Schedule of Common Stock Outstanding | The following represents the common stock outstanding for the fiscal year ended:
| Fiscal Year Ended August 31,
| 2021 |  | 2020 |  | 2019
Common stock outstanding: |  |  |  |  |
Beginning balances | 150,330,358 |  |  | 153,520,380 |  |  | 164,588,172 |
Shares issued upon exercise of stock options | 9,321 |  |  | 56,999 |  |  | 11,348 |
Shares issued under employee stock purchase plan | 1,288,397 |  |  | 1,106,852 |  |  | 1,282,042 |
Vesting of restricted stock | 2,290,104 |  |  | 2,259,623 |  |  | 1,983,261 |
Purchases of treasury stock under employee stock plans | (622,703) |  |  | (621,250) |  |  | (489,836) |
Treasury shares purchased(1)(2)(3) | (8,799,400) |  |  | (5,992,246) |  |  | (13,854,607) |
Ending balances | 144,496,077 |  |  | 150,330,358 |  |  | 153,520,380 |
(1)During fiscal year 2018, the Board of Directors authorized the repurchase of $350 million of the Company’s common stock under share repurchase programs, which were repurchased during fiscal year 2019. (2)In September 2019, the Board of Directors authorized the repurchase of up to $600 million of the Company’s common stock as part of a two-year capital allocation framework (“the 2020 Share Repurchase Program”). As of August 31, 2021, 14.1 million shares had been repurchased for $600 million and no authorization remains under the 2020 Share Repurchase Program. (3)In July 2021, the Board of Directors approved an authorization for the repurchase of up to $1.0 billion of the Company’s common stock (“the 2022 Share Repurchase Program”). As of August 31, 2021, 0.7 million shares had been repurchased for $42 million and $958 million remains available under the 2022 Share Repurchase Program.

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