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v3.22.2.2

Notes Payable, net (Tables) | 12 Months Ended
--- | ---
Aug. 31, 2022
Debt Disclosure [Abstract] |
Notes Payable, Net |
|  | As of August 31, |
(In millions) |  | 2022 |  |  | 2021 |
Term loans |  | $ | 867.5 |  |  | $ | 492.3 |
2.875% Convertible senior notes, due 2028 |  |  | 373.8 |  |  |  | 373.8 |
2.875% Convertible senior notes, due 2024 |  |  | 47.7 |  |  |  | 47.7 |
Other notes payable |  |  | 1.2 |  |  |  | 1.7 |
|  | $ | 1,290.2 |  |  | $ | 915.5 |
Debt discount and issuance costs (1) |  |  | (21.1 | ) |  |  | (89.0 | )
|  | $ | 1,269.1 |  |  | $ | 826.5 |
(1) As described in Note 2 – Summary of Significant Accounting Policies, effective September 1, 2021, the debt discount associated with convertible senior notes was derecognized upon adoption of ASU 2020-06 using the modified retrospective approach. Financial results for 2021 were not adjusted. See discussion below for additional information.
Principal Payments on the Notes Payable | As of August 31, 2022, principal payments on the notes payable are expected as follows:
(In millions) |  |  |
Year ending August 31, |  |  |
2023 |  | $ | 35.3 |
2024 (1) |  |  | 83.8 |
2025 |  |  | 36.4 |
2026 |  |  | 259.1 |
2027 |  |  | 241.9 |
Thereafter (1) |  |  | 633.7 |
|  | $ | 1,290.2 |
(1) The repayment of the $47.7 million of 2024 Convertible Notes due February 2024 and the $373.8 million of 2028 Convertible Notes due April 2028 is assumed to occur at the scheduled maturity instead of assuming an earlier conversion by the holders.

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