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Common Stock and Related Matters (Tables)

12 Months Ended

Aug. 31, 2020

Equity [Abstract]

Schedule of Changes in Common Stock

Changes in common stock during the periods presented were as follows (amounts and shares in millions):

	Common Stock
	Shares			Amount
				(At par)
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
Issuance of restricted stock grants, net of cancellations	0.1			—
Stock options exercised	—		*	—
Balance at August 31, 2020	53.9			$	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 during the periods presented (in millions, except per share data):

	Year Ended August 31,
	2020				2019				2018
Net income	$	248.3			$	330.4			$	349.6
Basic weighted average shares outstanding	39.5				39.7				40.9
Common stock equivalents	0.1				0.1				0.1
Diluted weighted average shares outstanding	39.6				39.8				41.0
Basic earnings per share	$	6.29			$	8.32			$	8.54
Diluted earnings per share	$	6.27			$	8.29			$	8.52

Schedule of Securities Excluded from Computation of Earnings Per Share

The following table presents stock options, restricted stock awards, and performance share units that were excluded from the diluted earnings per share calculation for the periods presented as the effect of inclusion would have been antidilutive:

	Year Ended August 31,
	2020			2019			2018
Stock options	598,000			300,000			179,000
Restricted stock awards	213,000			160,000			227,000
Performance stock units *	—			—			—

___________________________

* Represents shares of less than 1,000 in fiscal 2020. No performance stock units awards were outstanding in fiscal 2019 or fiscal 2018.

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Tabular disclosure of the number and amount for share options and restricted shares activity (rollforward).

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Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.

+ 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
-Subparagraph (c)
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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.

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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
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