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Share-Based Compensation (Tables) | 3 Months Ended
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Nov. 30, 2021
Share-based Payment Arrangement [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, 2021 and 2020, respectively:
|  | Three months ended |
|  | November 30, 2021 |  |  | November 30, 2020 |
|  | 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 |  |  | 21,137 |  |  | $ | 41.80 |  |  |  | 35,168 |  |  | $ | 30.68 |
RSUs |  |  | 20,099 |  |  | $ | 141.99 |  |  |  | 26,314 |  |  | $ | 106.72 |
PSUs |  |  | 12,122 |  |  | $ | 147.74 |  |  |  | 19,533 |  |  | $ | 125.23 |
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, 2021 and 2020, respectively:
|  | Three months ended November 30, |
|  | 2021 |  |  | 2020 |
Weighted-average dividend yield |  |  | 0.9 | % |  |  | 1.2 | %
Weighted-average volatility |  |  | 33.8 | % |  |  | 32.8 | %
Risk-free interest rate |  |  | 1.2 | % |  |  | 0.5 | %
Weighted-average expected life (years) |  |  | 5 |  |  |  | 6 |
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, 2021 and 2020 was estimated at the grant date using a Monte Carlo simulation model which included the following assumptions:
|  | Three months ended November 30, |
|  | 2021 |  |  | 2020 |
Expected term (years) |  |  | 3 |  |  |  | 3 |
Risk-free interest rate |  |  | 0.7 | % |  |  | 0.2 | %
Volatility |  |  | 39.1 | % |  |  | 38.6 | %
Dividend yield |  |  | 0.9 | % |  |  | 1.2 | %

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- 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 No definition available. + Details
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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 + Details
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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 + Details
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