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Fair Value Measures (Tables)
 12 Months Ended
Aug. 31, 2022
Fair Value Disclosures [Abstract]  
Assets and Liabilities Measured at Fair Value on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis as of August 31, 2022 are:

 

(In millions)

 

Total

 

 

Level 1

 

 

Level 2(1)

 

 

Level 3

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Derivative financial instruments

 

$

21.4

 

 

$

—

 

 

$

21.4

 

 

$

—

 

Nonqualified savings plan investments

 

 

40.3

 

 

 

40.3

 

 

 

—

 

 

 

—

 

Cash equivalents

 

 

119.4

 

 

 

119.4

 

 

 

—

 

 

 

—

 

 

 

$

181.1

 

 

$

159.7

 

 

$

21.4

 

 

$

—

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Derivative financial instruments

 

$

3.0

 

 

$

—

 

 

$

3.0

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets and liabilities measured at fair value on a recurring basis as of August 31, 2021 are:

 

(In millions)

 

Total

 

 

Level 1

 

 

Level 2(1)

 

 

Level 3

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Derivative financial instruments

 

$

0.1

 

 

$

—

 

 

$

0.1

 

 

$

—

 

Nonqualified savings plan investments

 

 

47.7

 

 

 

47.7

 

 

 

—

 

 

 

—

 

Cash equivalents

 

 

228.9

 

 

 

228.9

 

 

 

—

 

 

 

—

 

 

 

$

276.7

 

 

$

276.6

 

 

$

0

 

 

$

—

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Derivative financial instruments

 

$

10.4

 

 

$

—

 

 

$

10.4

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)
Level 2 assets include derivative financial instruments which are valued based on significant observable inputs. See Note 13 - Derivative Instruments for further discussion.