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Fair Value of Financial Instruments (Tables)
12 Months Ended
Aug. 31, 2022
Fair Value Of Financial Instruments [Abstract]  
Estimated Fair Values of Financial Instruments and Methods and Assumptions Used

The estimated fair values of financial instruments and the methods and assumptions used to estimate such fair values are as follows:

 

(In millions)

 

Carrying
Amount
1

 

 

Estimated
Fair Value
(Level 2)

 

Notes payable as of August 31, 2022

 

$

1,289.0

 

 

$

1,231.2

 

Notes payable as of August 31, 2021

 

$

913.8

 

 

$

935.9

 

 

1 Carrying amount disclosed in this table excludes debt discount and debt issuance costs.