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STOCK-BASED COMPENSATION PLANS (Tables) | 12 Months Ended
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Aug. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Total awards granted | The following table summarizes the total awards granted:
|  | Stock Options/SARs |  | Restricted Stock Awards/Units |  | Performance Awards
2015 Grants |  | — |  |  | 987,574 |  |  | 462,496 |
2014 Grants |  | — |  |  | 1,191,544 |  |  | 450,233 |
2013 Grants |  | 244,403 |  |  | 1,149,696 |  |  | 640,002 |
Restricted stock units and performance stock units, excluding the cash component | Information for restricted stock units and performance stock units, excluding the cash component, is as follows:
| Number |  | Weighted Average Grant-Date Fair Value
Outstanding as of September 1, 2012 | 1,683,572 |  |  | $ | 13.16 |
Granted | 1,159,451 |  |  | 13.60 |
Vested | (537,303 | ) |  | 13.35 |
Forfeited | (398,302 | ) |  | 12.22 |
Outstanding as of August 31, 2013 | 1,907,418 |  |  | 13.57 |
Granted | 1,275,355 |  |  | 16.89 |
Vested | (737,870 | ) |  | 13.55 |
Forfeited | (364,323 | ) |  | 14.94 |
Outstanding as of August 31, 2014 | 2,080,580 |  |  | 15.37 |
Granted | 1,468,696 |  |  | 15.79 |
Vested | (712,279 | ) |  | 14.33 |
Forfeited | (103,663 | ) |  | 15.51 |
Outstanding as of August 31, 2015 | 2,733,334 |  |  | $ | 15.86 |
Valuation assumptions for stock appreciation rights and stock options | The estimated fair value of stock appreciation rights and stock options granted under the Company's plans during the year ended August 31, 2013 of $0.6 million was estimated on the date of grant using the Black-Scholes Option Pricing Model with the following assumptions:
|  | 2013
Risk-free interest rate |  | 0.41 | %
Expected life, years |  | 3.0 |
Expected volatility |  | 43 | %
Expected dividend yield |  | 3.40 | %
Weighted average grant-date fair value per share |  | $ | 3.38 |
Combined activity for stock appreciation rights and stock options, excluding the cash component | Combined activity for the Company's stock appreciation rights and stock options, excluding the cash component, is as follows:
| Number |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life (Years) |  | Aggregate Intrinsic Value
Outstanding as of September 1, 2012 | 2,930,492 |  |  | $ | 24.81 |  |  |  |  |
Granted | 185,004 |  |  | 14.25 |  |  |  |  |
Exercised | (4,105 | ) |  | 11.60 |  |  |  |  |
Forfeited/Expired | (457,961 | ) |  | 24.91 |  |  |  |  |
Outstanding as of August 31, 2013 | 2,653,430 |  |  | $ | 24.07 |  |  | 2.8 |  | $ | 2,867,175 |
Exercised | (223,473 | ) |  | 11.84 |  |  |  |  |
Forfeited/Expired | (992,926 | ) |  | 32.93 |  |  |  |  |
Outstanding as of August 31, 2014 | 1,437,031 |  |  | $ | 19.85 |  |  | 2.7 |  | $ | 4,384,668 |
Exercised | (142,604 | ) |  | 11.80 |  |  |  |  |
Forfeited/Expired | (452,210 | ) |  | 35.10 |  |  |  |  |
Outstanding as of August 31, 2015 | 842,217 |  |  | $ | 13.04 |  |  | 2.7 |  | $ | 2,243,765 |
Exercisable at August 31, 2015 | 789,498 |  |  | $ | 12.95 |  |  | 2.6 |  | $ | 2,168,298 |
Remaining unvested stock appreciation rights and stock options expected to vest | 50,083 |  |  | $ | 14.27 |  |  |  |  |
Stock appreciation rights and stock options | Information related to stock appreciation rights and stock options as of August 31, 2015 is summarized below:
|  | Stock Appreciation Rights and Stock Options Outstanding |  | Stock Appreciation Rights and Stock Options Exercisable
Range of Exercise Prices |  | Number Outstanding |  | Weighted Average Remaining Contractual Life (In Years) |  | Weighted Average Exercise Price |  | Number Exercisable |  | Weighted Average Remaining Contractual Life (In Years) |  | Weighted Average Exercise Price
$11.00 | - | 14.68 |  | 720,511 |  |  | 2.7 |  | $ | 12.40 |  |  | 671,027 |  |  | 2.6 |  | $ | 12.27 |
$16.54 | - | 16.83 |  | 121,706 |  |  | 2.5 |  | $ | 16.81 |  |  | 118,471 |  |  | 2.5 |  | $ | 16.81 |
|  |  |  | 842,217 |  |  | 2.7 |  | $ | 13.04 |  |  | 789,498 |  |  | 2.6 |  | $ | 12.95 |
Yearly activity of the stock purchase plan | Yearly activity of the stock purchase plan is as follows:
|  | 2015 |  | 2014 |  | 2013
Shares subscribed |  | 198,710 |  |  | 228,780 |  |  | 281,460 |
Price per share |  | $ | 13.73 |  |  | $ | 16.97 |  |  | $ | 12.61 |
Shares purchased |  | 172,170 |  |  | 221,570 |  |  | 211,580 |
Price per share |  | $ | 16.96 |  |  | $ | 12.61 |  |  | $ | 11.85 |
Shares available for future issuance |  | 3,810,924 |  |  |  |  |

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