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Common Stock and Related Matters (Tables) | 12 Months Ended
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Aug. 31, 2021
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, 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 |
Issuance of restricted stock grants, net of cancellations | 0.1 |  |  | — |
Stock options exercised | — |  | * | — |
Balance at August 31, 2021 | 54.0 |  |  | $ | 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,
| 2021 |  | 2020 |  | 2019
Net income | $ | 306.3 |  |  | $ | 248.3 |  |  | $ | 330.4 |
Basic weighted average shares outstanding | 36.3 |  |  | 39.5 |  |  | 39.7 |
Common stock equivalents | 0.3 |  |  | 0.1 |  |  | 0.1 |
Diluted weighted average shares outstanding | 36.6 |  |  | 39.6 |  |  | 39.8 |
Basic earnings per share | $ | 8.44 |  |  | $ | 6.29 |  |  | $ | 8.32 |
Diluted earnings per share | $ | 8.38 |  |  | $ | 6.27 |  |  | $ | 8.29 |
Schedule of Securities Excluded from Computation of Earnings Per Share | The following table presents stock options, restricted stock awards, and performance stock units that were excluded from the diluted earnings per share calculation for the periods presented as the effect of inclusion would have been antidilutive (in millions):
| Year Ended August 31,
| 2021 |  | 2020 |  | 2019
Stock options | 0.8 |  |  | 0.6 |  |  | 0.3 |
Restricted stock awards | — |  | * | 0.2 |  |  | 0.2 |
Performance stock units | — |  |  | — |  | * | — |
_______________________ * Represents shares of less than 0.1 million.

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- Definition 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) -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 + Details
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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://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 + Details
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