XML 61 R39.htm IDEA: XBRL DOCUMENT v3.25.3
Pension and Defined Contribution Plans (Tables)
 12 Months Ended
Aug. 31, 2025
Retirement Benefits [Abstract]  
Schedule of Domestic and International Pension Plans
The following tables reflect the status of our domestic (U.S. based) and international pension plans as of the dates presented (in millions):
 Domestic PlansInternational Plans
 August 31,August 31,
 2025202420252024
Change in benefit obligation:    
Benefit obligation at beginning of year$163.8 $159.8 $34.0 $34.6 
Service cost4.6 3.6 0.8 0.9 
Interest cost7.8 7.8 1.9 2.0 
Actuarial (gains) losses(12.1)3.7 (2.2)(0.1)
Settlements(95.2)— (1.4)— 
Benefits paid(12.2)(11.1)(2.4)(1.9)
Other— — 1.2 (1.5)
Benefit obligation at end of year56.7 163.8 31.9 34.0 
Change in plan assets:    
Fair value of plan assets at beginning of year134.5 132.7 34.6 32.1 
Actual (loss) return on plan assets(1.6)9.5 (3.2)3.2 
Employer contributions0.9 3.4 1.0 — 
Benefits paid(12.2)(11.1)(1.6)(1.3)
Settlements(95.2)— (2.6)— 
Other— — 0.7 0.6 
Fair value of plan assets at end of year26.4 134.5 28.9 34.6 
Funded status at the end of year$(30.3)$(29.3)$(3.0)$0.6 
Amounts recognized in the consolidated balance sheets consist of:    
Non-current assets$5.4 $8.4 $4.3 $4.9 
Current liabilities(3.4)(4.2)(0.4)(0.3)
Non-current liabilities(32.3)(33.5)(6.9)(4.0)
Net amount recognized in consolidated balance sheets$(30.3)$(29.3)$(3.0)$0.6 
Accumulated benefit obligation$55.6 $162.5 $29.0 $31.8 
Pre-tax amounts in accumulated other comprehensive loss:    
Prior service cost$— $(0.1)$(0.2)$— 
Net actuarial loss(4.8)(43.5)12.4 (8.8)
Amounts in accumulated other comprehensive loss
$(4.8)$(43.6)$12.2 $(8.8)
Pensions plans in which benefit obligation exceeds plan assets:
Projected benefit obligation$35.7 $37.7 $7.3 $4.3 
Accumulated benefit obligation34.6 36.4 4.4 2.9 
Pensions plans in which plan assets exceed benefit obligation:
Projected benefit obligation$21.0 $126.1 $24.6 $29.7 
Accumulated benefit obligation21.0 126.1 24.6 28.9 
Plan assets26.4 134.5 28.9 34.6 
Schedule of Net Periodic Pension Cost
Net periodic pension cost during the periods presented included the following components before tax (in millions):
 Domestic PlansInternational Plans
 202520242023202520242023
Service cost$4.6 $3.6 $3.8 $0.8 $0.9 $0.8 
Interest cost7.8 7.8 7.4 1.9 2.0 1.6 
Expected return on plan assets(6.7)(6.7)(7.5)(1.7)(2.0)(2.1)
Amortization of prior service cost— 0.1 2.6 0.1 — — 
Recognized actuarial loss1.6 1.7 2.4 1.0 1.6 0.6 
Settlement loss (gain)33.2 — — (2.3)— — 
Net periodic pension cost$40.5 $6.5 $8.7 $(0.2)$2.5 $0.9 
Schedule of Weighted Average Assumptions Used
Weighted average assumptions used in computing the benefit obligation are as follows:
 Domestic PlansInternational Plans
 2025202420252024
Discount rate5.3 %4.9 %6.9 %5.9 %
Rate of compensation increase5.0 %5.0 %4.5 %3.4 %
Weighted average assumptions used in computing net periodic pension cost are as follows:
 Domestic PlansInternational Plans
 202520242023202520242023
Discount rate4.9 %5.1 %4.4 %5.9 %5.9 %4.9 %
Expected return on plan assets5.3 %5.3 %5.5 %5.4 %4.7 %6.4 %
Rate of compensation increase5.0 %5.0 %5.0 %3.4 %3.5 %3.5 %
Schedule of Pension Plan Asset Allocation
Our pension plan asset allocation by asset category as of the dates presented is as follows:
 % of Plan Assets
Domestic PlansInternational Plans
 2025202420252024
Equity securities14.0 %17.2 %— %— %
Fixed income securities71.6 %77.3 %0.4 %93.2 %
Multi-strategy investments— %— %— %6.8 %
Real estate14.4 %5.5 %— %— %
Guaranteed insurance policies— %— %99.6 %— %
Total100.0 %100.0 %100.0 %100.0 %
The following tables present the fair value of the domestic pension plan assets by major category as of the dates presented (in millions):
Fair Value
as of		Fair Value Measurements
August 31, 2025(Level 1)(Level 2)(Level 3)
Assets included in the fair value hierarchy:
Fixed-income investments$10.9 $— $10.9 $— 
U.S. Treasury investments5.2 — 5.2 — 
Mutual funds:    
Domestic large cap equity fund1.7 1.7 — — 
Foreign equity fund1.4 1.4 — — 
Collective trust: Domestic small cap equities0.6 — 0.6 — 
Short-term fixed income investments2.8 2.8 — — 
Total assets in the fair value hierarchy22.6 
Assets calculated at net asset value:
Real estate fund3.8 
Total assets at net asset value3.8 
Total assets at fair value$26.4    
Fair Value
as of		Fair Value Measurements
August 31, 2024(Level 1)(Level 2)(Level 3)
Assets included in the fair value hierarchy:
Fixed-income investments$63.8 — $63.8 — 
US Treasury investments34.4 — 34.4 — 
Mutual funds:    
Domestic large cap equity fund11.5 11.5 — — 
Foreign equity fund6.7 6.7 — — 
Collective trust: Domestic small cap equities4.9 — 4.9 — 
Short-term fixed income investments5.8 5.8 — — 
Total assets in the fair value hierarchy127.1 
Assets calculated at net asset value:
Real estate fund7.4 
Total assets at net asset value7.4 
Total assets at fair value$134.5    
The following tables present the fair value of the international pension plan assets by major category as of the dates presented (in millions):
Fair Value
as of		Fair Value Measurements
August 31, 2025(Level 1)(Level 2)(Level 3)
Short-term fixed income investments$0.1 $0.1 $— $— 
Insurance policy28.8 — — 28.8 
Total assets at fair value$28.9    
Fair Value
as of		Fair Value Measurements
August 31, 2024(Level 1)(Level 2)(Level 3)
Short-term fixed income investments$0.2 $0.2 $— $— 
Multi-strategy investments2.3 — 2.3 — 
Fixed-income investments32.1 — 32.1 — 
Total assets at fair value$34.6    
Schedule of Reconciliation Fair Value Measurements
The following table presents a reconciliation of the beginning and ending balances of the fair value measurements using significant unobservable inputs (Level 3) (in millions):
Year Ended August 31,
2025
Beginning balance$— 
Purchases32.0 
Unrealized loss(3.2)
Ending balance$28.8 
Schedule of Expected Benefit Payments Benefit payments are expected to be paid as follows during the years ending August 31 (in millions):
Domestic PlansInternational Plans
2026$4.1 $2.0 
20274.1 2.1 
20286.9 2.3 
20296.0 2.4 
20304.9 2.6 
2031-203525.6 16.8