XML 64 R41.htm IDEA: XBRL DOCUMENT
v3.24.3

Income Taxes (Tables) | 12 Months Ended
--- | ---
Aug. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Provision for Income Taxes | The provision for income taxes consists of the following components during the periods presented (in millions):
| Year Ended August 31,
| 2024 |  | 2023 |  | 2022
Provision for current federal taxes | $ | 113.6 |  |  | $ | 105.8 |  |  | $ | 67.6 |
Provision for current state taxes | 26.6 |  |  | 15.7 |  |  | 16.3 |
Provision for current foreign taxes | 19.4 |  |  | 27.0 |  |  | 25.4 |
(Benefit from) provision for deferred taxes | (33.6) |  |  | (47.8) |  |  | 0.6 |
Total provision for income taxes | $ | 126.0 |  |  | $ | 100.7 |  |  | $ | 109.9 |
Schedule of Income before Income Tax, Domestic and Foreign | The following table presents income before income taxes for our domestic and foreign operations for the periods presented: (in millions):
| Year Ended August 31,
| 2024 |  | 2023 |  | 2022
Domestic | $ | 472.4 |  |  | $ | 367.5 |  |  | $ | 409.6 |
International | 76.2 |  |  | 79.2 |  |  | 84.3 |
Income before income taxes | $ | 548.6 |  |  | $ | 446.7 |  |  | $ | 493.9 |
Schedule of Reconciliation of Federal Statutory Rate to Total Provision for Income Taxes | The following table reconciles the provision at the federal statutory rate to the total provision for income taxes during the periods presented (in millions):
| Year Ended August 31,
| 2024 |  | 2023 |  | 2022
Federal income tax computed at statutory rate | $ | 115.2 |  |  | $ | 93.8 |  |  | $ | 103.7 |
State income tax, net of federal income tax benefit | 19.7 |  |  | 11.4 |  |  | 13.5 |
Federal permanent differences | 2.1 |  |  | 2.2 |  |  | (4.3) |
Foreign permanent differences and rate differential | 2.3 |  |  | 4.4 |  |  | 4.3 |
Research and development tax credits | (10.1) |  |  | (8.3) |  |  | (7.6) |
Unrecognized tax benefits | 2.0 |  |  | 1.9 |  |  | 2.1 |
Other, net | (5.2) |  |  | (4.7) |  |  | (1.8) |
Total provision for income taxes | $ | 126.0 |  |  | $ | 100.7 |  |  | $ | 109.9 |
Schedule of Components of Net Deferred Income Taxes | Components of the net deferred income tax liabilities as of the dates presented include (in millions):
| August 31,
| 2024 |  | 2023
Deferred income tax liabilities: |  |  |
Depreciation | $ | (21.8) |  |  | $ | (21.5) |
Goodwill and intangibles | (150.2) |  |  | (151.2) |
Operating lease right of use assets | (15.8) |  |  | (19.8) |
Other liabilities | (1.8) |  |  | (3.4) |
Total deferred income tax liabilities | (189.6) |  |  | (195.9) |
Deferred income tax assets: |  |  |
Self-insurance | 2.1 |  |  | 1.7 |
Pension | 6.7 |  |  | 5.9 |
Deferred compensation | 24.5 |  |  | 23.1 |
Net operating losses | 7.1 |  |  | 6.2 |
Other accruals not yet deductible | 43.3 |  |  | 43.4 |
Operating lease liabilities | 18.5 |  |  | 22.6 |
Capitalized research and development | 70.1 |  |  | 41.5 |
Other assets | 14.0 |  |  | 15.4 |
Total deferred income tax assets | 186.3 |  |  | 159.8 |
Valuation allowance | (20.4) |  |  | (19.9) |
Net deferred income tax liabilities | $ | (23.7) |  |  | $ | (56.0) |
Schedule of Unrecognized Tax Benefits Roll Forward | The following table reconciles the change in the unrecognized income tax benefit (reported in Other long-term liabilities on the Consolidated Balance Sheets) during the periods presented (in millions):
| Year Ended August 31,
| 2024 |  | 2023 |  | 2022
Unrecognized tax benefits balance at beginning of year | $ | 20.1 |  |  | $ | 19.5 |  |  | $ | 17.7 |
Additions based on tax positions related to the current year | 4.2 |  |  | 4.3 |  |  | 3.5 |
Additions for tax positions of prior years | — |  |  | 1.4 |  |  | 0.1 |
Reductions for tax positions of prior years | (0.1) |  |  | (1.7) |  |  | (0.2) |
Reductions due to settlements | — |  |  | (0.5) |  |  | — |
Reductions due to lapse of statute of limitations | (3.1) |  |  | (2.9) |  |  | (1.6) |
Unrecognized tax benefits balance at end of year | $ | 21.1 |  |  | $ | 20.1 |  |  | $ | 19.5 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 217 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-217 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration