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Share-Based Payments (Tables)

12 Months Ended

Aug. 31, 2019

Share-based Payment Arrangement, Noncash Expense [Abstract]

Schedule of Restricted Stock Award Activity

Activity related to restricted stock awards during the fiscal year ended August 31, 2019 was as follows (in millions, except per share data):

	Number of Shares		Weighted Average Grant Date Fair Value Per Share
Outstanding at August 31, 2018	0.4		$	186.63
Granted	0.2		$	120.73
Vested	(0.2)		$	184.60
Forfeited*	—		$	159.88
Outstanding at August 31, 2019	0.4		$	156.32

___________________________

* Represents shares of less than 0.1 million.

Schedule of Stock Options, Weighted Average Assumptions

The following weighted average assumptions were used to estimate the fair value of stock options granted in the fiscal years ended August 31:

	2019		2018		2017
Dividend yield	0.4%		0.3%		0.2%
Expected volatility	32.8%		30.9%		28.5%
Risk-free interest rate	3.0%		2.0%		1.3%
Expected life of options	4 years		4 years		4 years
Weighted-average fair value of options	$34.06		$41.87		$57.40

Schedule of Stock Option Transactions

Stock option activity during the years ended August 31, 2019, 2018, and 2017 was as follows:

	Outstanding				Exercisable
	Number of Shares (in millions)		Weighted Average Exercise Price		Number of Shares (in millions)		Weighted Average Exercise Price
Outstanding at August 31, 2016	0.3		$129.85		0.1		$83.89
Granted	—	*	$239.76
Exercised	—	*	$139.69
Outstanding at August 31, 2017	0.3		$156.43		0.2		$106.54
Granted	—	*	$156.39
Exercised	—	*	$115.27
Outstanding at August 31, 2018	0.3		$154.69		0.2		$134.13
Granted	0.1		$116.40
Outstanding at August 31, 2019	0.4		$146.70		0.3		$147.51
Range of option exercise prices:
$40.01 - $100.00 (average life - 3.1 years)	0.1		$62.25		0.1		$62.25
$100.01 - $160.00 (average life - 6.9 years)	0.2		$125.66		0.1		$125.09
$160.01 - $210.00 (average life - 6.2 years)	0.1		$207.80		0.1		$207.80
$210.01 - $239.76 (average life - 7.1 years)	0.1		$239.76		—	*	$239.76

___________________________

* Represents shares of less than 0.1 million.

X

- Definition

Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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-Name Accounting Standards Codification
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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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