Share-Based Compensation

6 Months Ended

Feb. 28, 2018

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Note 11 – Share-Based Compensation

The Company’s current share-based compensation plans, approved by the stockholders of the Company, provides for awards of stock options, restricted shares, restricted stock units, stock appreciation rights, performance shares, and performance stock units to employees and non-employee directors of the Company. The Company measures and recognizes compensation expense for all share-based payment awards made to employees and directors based on estimated fair values. Share-based compensation expense was $0.9 million and $0.9 million for the three months ended February 28, 2018 and February 28, 2017, respectively. Share-based compensation expense was $1.9 million and $1.8 million for the six months ended February 28, 2018 and February 28, 2017, respectively.

The following table illustrates the type and fair value of the share-based compensation awards granted during the three month periods ended February 28, 2018 and February 28, 2017:

	Three months ended
	February 28, 2018				February 28, 2017
	Number of units granted		Weighted average grant-date fair value per award		Number of units granted		Weighted average grant-date fair value per award
Stock options		1,994	$	30.50		-	$	-
RSUs		6,401	$	89.65		7,427	$	74.47
PSUs		670	$	87.24		-	$	-

The following table provides the assumptions used in determining the fair value of the stock options awarded during the three month period ended February 28, 2018:

	Grant Year
	2018
Weighted-average dividend yield		1.3	%
Weighted-average volatility		33.1	%
Risk-free interest rate		2.6	%
Weighted-average expected lives	7 years