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Comprehensive Income

6 Months Ended

Feb. 28, 2021

Comprehensive income represents a measure of all changes in equity that result from recognized transactions and other economic events other than transactions with owners in their capacity as owners. Other comprehensive income (loss) items include foreign currency translation and pension adjustments.

The following tables summarize the changes in each component of accumulated other comprehensive loss during the periods presented (in millions):


	Foreign Currency Items		Defined Benefit Pension Plans		Accumulated Other Comprehensive Loss Items
Balance at August 31, 2020	$	(53.5)	$	(79.2)	$	(132.7)
Other comprehensive income before reclassifications	11.3		—		11.3
Amounts reclassified from accumulated other comprehensive loss (1)	—		3.3		3.3
Net current period other comprehensive income	11.3		3.3		14.6
Balance at February 28, 2021	$	(42.2)	$	(75.9)	$	(118.1)


	Foreign Currency Items		Defined Benefit Pension Plans		Accumulated Other Comprehensive Loss Items
Balance at August 31, 2019	$	(65.4)	$	(86.0)	$	(151.4)
Other comprehensive loss before reclassifications	(1.8)		—		(1.8)
Amounts reclassified from accumulated other comprehensive loss (1)	—		3.6		3.6
Net current period other comprehensive (loss) income	(1.8)		3.6		1.8

Balance at February 29, 2020	$	(67.2)	$	(82.4)	$	(149.6)

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(1) The before tax amounts of the defined benefit pension plan items are included in net periodic pension cost. See the Pension and Defined Contribution Plans footnote for additional details.

The following table summarizes the tax expense or benefit allocated to each component of other comprehensive income (loss) for the periods presented (in millions):


	Three Months Ended
	February 28, 2021						February 29, 2020
	Before Tax Amount		Tax (Expense) Benefit		Net of Tax Amount		Before Tax Amount		Tax (Expense) Benefit		Net of Tax Amount
Foreign currency translation adjustments	$	6.7	$	—	$	6.7	$	(3.7)	$	—	$	(3.7)
Defined benefit pension plans:


Amortization of defined benefit pension items:
Prior service cost	0.7		(0.1)		0.6		1.0		(0.3)		0.7
Actuarial losses	1.3		(0.2)		1.1		1.4		(0.4)		1.0

Total defined benefit pension plans, net	2.0		(0.3)		1.7		2.4		(0.7)		1.7
Other comprehensive income (loss)	$	8.7	$	(0.3)	$	8.4	$	(1.3)	$	(0.7)	$	(2.0)

	Six Months Ended
	February 28, 2021						February 29, 2020
	Before Tax Amount		Tax (Expense) Benefit		Net of Tax Amount		Before Tax Amount		Tax (Expense) Benefit		Net of Tax Amount
Foreign currency translation adjustments	$	11.3	$	—	$	11.3	$	(1.8)	$	—	$	(1.8)
Defined benefit pension plans:

Amortization of defined benefit pension items:
Prior service cost	1.4		(0.3)		1.1		2.0		(0.5)		1.5
Actuarial losses	2.7		(0.5)		2.2		2.8		(0.7)		2.1

Total defined benefit pension plans, net	4.1		(0.8)		3.3		4.8		(1.2)		3.6
Other comprehensive income	$	15.4	$	(0.8)	$	14.6	$	3.0	$	(1.2)	$	1.8