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Common Stock and Related Matters (Tables)
 12 Months Ended
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