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Stock-based Compensation (Tables)

12 Months Ended

Aug. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-based Compensation Expense

Stock-based compensation expense related to the Company’s stock-based equity awards is as follows by award type (in thousands):

			Fiscal Year Ended August 31,
			2023						2022						2021
RSU compensation expense			$	4,254					$	4,153					$	3,656
MSU compensation expense			2,180						2,544						2,294
PSU compensation expense (1)			-						-						3,605
Total			$	6,434					$	6,697					$	9,555

(1)PSU awards contain performance conditions for which accrual of expense is based on the probable outcome of the performance conditions. PSUs pertaining to the measurement year of fiscal year 2021 vested at 100% since the performance conditions were fully achieved. Vesting of PSUs pertaining to the measurement years of fiscal years 2023 and 2022 was deemed not probable at the end of each respective fiscal year and the PSUs were subsequently forfeited.

Schedule of Restricted Stock Units Activity

A summary of the Company’s restricted stock unit activity is as follows (in thousands, except share and per share amounts):

Restricted Stock Units						Number of Units						Weighted-Average Grant Date Fair Value Per Unit						Aggregate Intrinsic Value
Outstanding at August 31, 2022						78,604						$	148.28
Granted						23,732						$	167.05
Converted to shares of common stock						(22,032)						$	182.16
Forfeited						(488)						$	192.24
Outstanding at August 31, 2023						79,816						$	144.24					$	17,150
Vested at August 31, 2023						50,319						$	118.94					$	10,812

Schedule of Valuation Assumptions

The following weighted-average assumptions for MSU grants for the last three fiscal years were used in the Monte Carlo simulation model:

			Fiscal Year Ended August 31,
			2023						2022						2021
Expected volatility			37.5		%				32.7		%				28.5		%
Risk-free interest rate			4.3		%				0.6		%				0.2		%
Expected dividend yield			0.0		%				0.0		%				0.0		%

Schedule of Market Share Units Activity

A summary of the Company’s market share unit activity is as follows (in thousands, except share and per share amounts):

Market Share Units						Number of Units						Weighted-Average Grant Date Fair Value Per Unit						Aggregate Intrinsic Value
Outstanding at August 31, 2022						37,201						$	212.66
Granted						13,695						$	184.15
Forfeited						(16,947)						$	218.88
Outstanding at August 31, 2023⁽¹⁾						33,949						$	198.05					$	7,295

(1)This figure represents the total number of shares underlying MSU grants assuming achievement of the target number of shares at 100%. As the ultimate number of shares that vest could be as high as 200% of the target, the Company may be required to issue additional shares to satisfy outstanding MSU award grants.

Schedule of Performance Share Units

A summary of the Company’s performance share unit activity is as follows (in thousands, except share and per share amounts):

Performance Share Units						Number of Units						Weighted-Average Grant Date Fair Value Per Unit						Aggregate Intrinsic Value
Outstanding at August 31, 2022						17,826						$	227.24
Granted						21,990						$	170.16
Forfeited						(18,668)						$	224.67
Outstanding at August 31, 2023⁽¹⁾						21,148						$	170.16					$	4,544

(1)PSUs pertaining to the measurement year of fiscal year 2023 were forfeited in October 2023 since performance conditions were not achieved. Performance is certified annually in October by the Committee subsequent to the Company’s fiscal year end and PSUs are forfeited, or vest, depending on performance achievement.

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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