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Share Repurchases | 6 Months Ended
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Feb. 28, 2025
Equity [Abstract] |
Share Repurchases | Note 13 – Share Repurchases The Company’s Board of Directors authorized a share repurchase program of up to $250.0 million of common stock with no expiration date. Under the program, shares may be repurchased in privately negotiated and/or open market transactions as well as under formalized trading plans in accordance with the guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. The Company’s share repurchases in excess of issuances are subject to a 1% excise tax enacted by the Inflation Reduction Act. During the three and six months ended February 28, 2025, the Company repurchased approximately 12,000 shares of its common stock under the program in open market transactions for $1.4 million, including excise taxes. There were no shares repurchased during the three and six months ended February 29, 2024. As of February 28, 2025, the repurchased shares were held as treasury stock and $40.0 million of the authorization remained available for future share repurchases.

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- Definition The entire disclosure for treasury stock, including, but not limited to, average cost per share, description of share repurchase program, shares repurchased, shares held for each class of treasury stock. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/505-30/tableOfContent + Details
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