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Derivative Instruments (Tables)

12 Months Ended

Aug. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Values of Derivative Instruments

Fair Values of Derivative Instruments

		Asset Derivatives										Liability Derivatives
				August 31,										August 31,
				2024				2023						2024				2023
(In millions)		Balance sheet caption		Fair Value				Fair Value				Balance sheet caption		Fair Value				Fair Value
Derivatives designated as hedging instruments
Foreign forward exchange contracts		Accounts receivable, net		$	4.3			$	2.5			Accounts payable and accrued liabilities		$	0.1			$	0.1
Interest rate swap contracts		Accounts receivable, net			19.7				34.9			Accounts payable and accrued liabilities			1.3				0.1
				$	24.0			$	37.4					$	1.4			$	0.2
Derivatives not designated as hedging instruments
Foreign forward exchange contracts		Accounts receivable, net		$	—			$	0.5			Accounts payable and accrued liabilities		$	—			$	—

Effect of Derivative Instruments on the Statements of Income

The Effect of Derivative Instruments on the Consolidated Statements of Income

Derivatives in cash flow hedging relationships		Location of gain (loss) recognized in income on derivative		Gain (loss) recognized in income on derivatives Years ended August 31,
				2024				2023
Foreign forward exchange contract		Interest and foreign exchange		$	0.1			$	—

Derivatives in cash flow hedging relationships		Gain (loss) recognized in OCI on derivatives Years ended August 31,								Location of gain (loss) reclassified from accumulated OCI into income		Gain (loss) reclassified from accumulated OCI into income Years ended August 31,								Location of gain (loss) in income on derivative (amount excluded from effectiveness testing)		Gain (loss) recognized on derivative (amount excluded from effectiveness testing) Years ended August 31,
		2024				2023						2024				2023						2024				2023
Foreign forward exchange contracts		$	3.4			$	5.6			Revenue		$	2.5			$	(0.2	)		Revenue		$	2.5			$	2.0
Foreign forward exchange contracts			(0.6	)			2.0			Cost of revenue			(0.5	)			2.2			Cost of revenue			0.9				0.6
Interest rate swap contracts			0.4				24.8			Interest and foreign exchange			16.7				10.8			Interest and foreign exchange			—			—
		$	3.2			$	32.4					$	18.7			$	12.8					$	3.4			$	2.6

Effects of Cash Flow Hedges Included in Statements of Income

The following table presents the amounts in the Consolidated Statements of Income in which the effects of the cash flow hedges are recorded and the effects of the cash flow hedge activity on these line items for the years ended August 31, 2024, 2023 and 2022:

		For the Year Ended August 31,
		2024								2023								2022
(In millions)		Total				Amount of gain (loss) on cash flow hedge activity				Total				Amount of gain (loss) on cash flow hedge activity				Total				Amount of gain (loss) on cash flow hedge activity
Revenue		$	3,544.7			$	2.5			$	3,944.0			$	(0.2	)		$	2,977.7			$	(1.5	)
Cost of revenue		$	2,986.2			$	(0.5	)		$	3,502.9			$	2.2			$	2,671.7			$	0.3
Interest and foreign exchange		$	100.8			$	16.7			$	85.4			$	10.8			$	57.4			$	(4.9	)

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Schedule of effects of cash flow hedges included in statement of income.

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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E

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-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C

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-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A

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Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-Publisher FASB
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