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Stock-based Compensation (Tables) | 12 Months Ended
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Aug. 31, 2024
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,
| 2024 |  | 2023 |  | 2022
RSU compensation expense | $ | 3,612 |  |  | $ | 4,254 |  |  | $ | 4,153 |
MSU compensation expense | 2,282 |  |  | 2,180 |  |  | 2,544 |
PSU compensation expense (1) | 641 |  |  | — |  |  | — |
Total | $ | 6,535 |  |  | $ | 6,434 |  |  | $ | 6,697 |
(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 2024 vested at 16.3% since the performance conditions were partially 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, 2023 |  | 79,816 |  | $ | 144.24 |  |  |
Granted |  | 19,201 |  | $ | 206.85 |  |  |
Converted to shares of common stock |  | (28,658) |  | $ | 137.42 |  |  |
Forfeited |  | (211) |  | $ | 188.85 |  |  |
Outstanding at August 31, 2024 |  | 70,148 |  | $ | 164.03 |  |  | $ | 18,438 |
Vested at August 31, 2024 |  | 45,113 |  | $ | 149.81 |  |  | $ | 11,858 |
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,
| 2024 |  | 2023 |  | 2022
Expected volatility | 34.4 | % |  | 37.5 | % |  | 32.7 | %
Risk-free interest rate | 4.8 | % |  | 4.3 | % |  | 0.6 | %
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, 2023 |  | 33,949 |  | $ | 198.05 |  |  |
Granted |  | 14,263 |  | $ | 226.30 |  |  |
Forfeited |  | (11,578) |  | $ | 185.15 |  |  |
Outstanding at August 31, 2024⁽¹⁾ |  | 36,634 |  | $ | 213.13 |  |  | $ | 9,629 |
(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, 2023 |  | 21,148 |  | $ | 170.16 |  |  |
Granted |  | 20,039 |  | $ | 198.94 |  |  |
Forfeited |  | (21,529) |  | $ | 170.67 |  |  |
Outstanding at August 31, 2024 |  | 19,658 |  | $ | 198.94 |  |  | $ | 5,167 |

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