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Shared-Based Compensation (Tables)

3 Months Ended

Nov. 30, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Type and Fair Value of Share-Based Compensation Awards

The following table illustrates the type and fair value of share-based compensation awards granted during the three months ended November 30, 2020 and 2019, respectively:

		Three months ended
		November 30, 2020								November 30, 2019
		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			35,168			$	30.68				44,347			$	24.18
RSUs			26,314			$	106.72				30,235			$	90.73
PSUs			19,533			$	125.23				22,715			$	102.28

Schedule of Assumptions Used

The following table provides the assumptions used in determining the fair value of the stock options awarded during the three months ended November 30, 2020 and 2019:

		Three months ended November 30,
		2020				2019
Weighted-average dividend yield			1.2	%			1.3	%
Weighted-average volatility			32.8	%			28.4	%
Risk-free interest rate			0.5	%			1.6	%
Weighted-average expected life		6 years				6 years

Schedule of Assumptions Used to Estimate Fair Value of TSR Portion of Awards Granted

The fair value of the TSR portion of the awards granted during the three months ended November 30, 2020 and 2019 was estimated at the grant date using a Monte Carlo simulation model which included the following assumptions:

		Three months ended November 30,
		2020				2019
Expected term (years)			3				3
Risk-free interest rate			0.2	%			1.5	%
Volatility			38.6	%			29.5	%
Dividend yield			1.2	%			1.3	%

X

- Definition

Tabular disclosure of the significant assumptions used during the year to estimate the fair value of other than options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ References

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- Definition

Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

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- Definition

Tabular disclosure of the weighted-average grant-date fair value of equity options or other equity instruments granted during the year.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (d)(1)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

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