XML 66 R49.htm IDEA: XBRL DOCUMENT v3.25.3

Income Taxes (Tables)

12 Months Ended

Aug. 31, 2025

Income Tax Disclosure [Abstract]

Components of Income Tax Expense of Continuing Operations

Components of income tax expense were as follows:

		For the Year Ended August 31,
(In millions)		2025				2024				2023
Current
Federal		$	8.4			$	2.0			$	7.4
State			1.8				2.2				2.7
Foreign			35.2				38.8				9.7
			45.4				43.0				19.8
Deferred
Federal			47.5				14.6				7.9
State			8.2				0.1				0.6
Foreign			(7.7	)			(2.0	)			(3.4	)
			48.0				12.7				5.1
Change in valuation allowance			(2.0	)			6.3				(0.3	)
Income tax expense		$	91.4			$	62.0			$	24.6

Reconciliation Between Effective and Statutory Tax Rates on Operations

The reconciliation between effective and statutory tax rates on operations is as follows:

		For the Year Ended August 31,
		2025				2024				2023
Federal statutory rate			21.0	%			21.0	%			21.0	%
State income taxes, net of federal benefit			2.0				1.4				3.0
Foreign operations			2.0				4.6				6.2
U.S. tax on foreign earnings			0.7				2.3				4.5
U.S. impact of foreign branch			2.3				(1.9	)			—
Permanent differences			1.2				4.0				(5.8	)
BEAT and minimum taxes			4.4				0.5				1.6
Change in valuation allowance			(0.8	)			2.8				(0.5	)
Unrecognized tax benefits			0.3				0.7				1.4
Noncontrolling interest in flow-through entity			(0.3	)			(0.3	)			(2.7	)
Credits			(0.8	)			(4.7	)			0.1
Other			0.1				(2.7	)			(1.8	)
Effective tax rate			32.1	%			27.7	%			27.0	%

Tax Effects of Temporary Differences that give rise to Significant Portions of Deferred Tax Assets and Deferred Tax Liabilities

The tax effects of temporary differences that give rise to significant portions of deferred tax assets and deferred tax liabilities were as follows:

		As of August 31,
(In millions)		2025				2024
Deferred tax assets:
Accrued payroll and related liabilities		$	32.7			$	35.0
Accrued liabilities			5.2				3.5
Deferred revenue			11.2				6.7
Inventories and other			15.8				7.7
Maintenance and warranty accruals			4.8				5.5
Lease liability			18.8				14.7
Interest expense			15.5				13.4
Net operating losses			21.2				35.9
Investment, asset tax credits and other			16.3				16.2
			141.5				138.6
Valuation allowance			(13.9	)			(15.9	)
Deferred tax liabilities:
Fixed assets			(234.3	)			(187.2	)
Intangibles			(3.6	)			(5.6	)
Right-of-use asset			(18.5	)			(14.4	)
Other			(9.5	)			(11.5	)
			(265.9	)			(218.7	)
Net deferred tax liability		$	(138.3	)		$	(96.0	)

Unrecognized Tax Benefits

The following is a tabular reconciliation of the total amounts of unrecognized tax benefits:

		For the Year Ended August 31,
(In millions)		2025				2024				2023
Unrecognized Tax Benefit – Opening Balance		$	3.1			$	1.7			$	0.4
Gross increases – tax positions in prior period			0.5				1.8				1.3
Lapse of statute of limitations			—				(0.4	)			—
Unrecognized Tax Benefit – Ending Balance		$	3.6			$	3.1			$	1.7

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in unrecognized tax benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 217
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-217

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration