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Common Stock and Related Matters (Tables) | 12 Months Ended
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Aug. 31, 2019
Equity [Abstract] |
Schedule of Changes in Common Stock | Changes in common stock for the years ended August 31, 2019, 2018, and 2017 were as follows (amounts and shares in millions):
| Common Stock
| Shares |  | Amount
|  |  | (At par)
Balance at August 31, 2016 | 53.4 |  |  | $ | 0.5 |
Issuance of restricted stock grants, net of cancellations | 0.1 |  |  | — |
Stock options exercised | — |  | * | — |
Balance at August 31, 2017 | 53.5 |  |  | $ | 0.5 |
Issuance of restricted stock grants, net of cancellations | 0.2 |  |  | — |
Stock options exercised | — |  | * | — |
Balance at August 31, 2018 | 53.7 |  |  | $ | 0.5 |
Issuance of restricted stock grants, net of cancellations | 0.1 |  |  | — |
Balance at August 31, 2019 | 53.8 |  |  | $ | 0.5 |
___________________________ * Represents shares of less than 0.1 million.
Schedule of Earnings Per Share, Basic and Diluted | The following table calculates basic earnings per common share and diluted earnings per common share for the years ended August 31, 2019, 2018, and 2017 (in millions, except per share data):
| Year Ended August 31,
| 2019 |  | 2018 |  | 2017
Net income | $ | 330.4 |  |  | $ | 349.6 |  |  | $ | 321.7 |
Basic weighted average shares outstanding | 39.7 |  |  | 40.9 |  |  | 43.1 |
Common stock equivalents | 0.1 |  |  | 0.1 |  |  | 0.2 |
Diluted weighted average shares outstanding | 39.8 |  |  | 41.0 |  |  | 43.3 |
Basic earnings per share | $ | 8.32 |  |  | $ | 8.54 |  |  | $ | 7.46 |
Diluted earnings per share | $ | 8.29 |  |  | $ | 8.52 |  |  | $ | 7.43 |

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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