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Stock-Based Compensation Plans (Tables) | 12 Months Ended
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Aug. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock-Based Compensation Expense | Total stock-based compensation expense for the past three fiscal years consisted of the following components:
(in millions) | 2024 |  | 2023 |  | 2022
Share awards: |  |  |  |  |
Time-based | $ | 11.6 |  |  | $ | 9.8 |  |  | $ | 7.6 |
Performance-based | 0.5 |  |  | (0.9) |  |  | 7.4 |
Stock options | 1.4 |  |  | 1.3 |  |  | 1.0 |
Other(1) | 1.1 |  |  | 0.7 |  |  | 1.1 |
Total stock-based compensation expense | $ | 14.6 |  |  | $ | 10.9 |  |  | $ | 17.1 |
(1) Includes stock-based compensation expense related to Board of Directors stock award expense and ESPP expense. Directors may elect to defer all or part of their annual retainer into a deferred compensation plan. The plan allows them to defer into either money units or stock units.
Summary of Nonvested Time-Based Share Awards | A summary of the status of nonvested time-based restricted stock units at August 31, 2024, and changes during Fiscal 2024, is as follows:
| Shares(1) |  | Weighted Average Fair Value
Outstanding at August 26, 2023 | 382,761 |  |  | $ | 56.81 |
Granted | 216,158 |  |  | $ | 58.79 |
Vested | (144,778) |  |  | $ | 60.35 |
Forfeited/canceled | (21,005) |  |  | $ | 59.40 |
Outstanding at August 31, 2024 | 433,136 |  |  | $ | 56.49 |
(1) Number of shares in the above table are shown in whole numbers.
Summary of Nonvested Performance-Based Awards | A summary of the status of our nonvested performance-based restricted stock units at August 31, 2024, and changes during Fiscal 2024, is as follows:
| Shares(1) |  | Weighted Average Fair Value
Outstanding at August 26, 2023 | 212,648 |  |  | $ | 60.59 |
Granted | 113,068 |  |  | $ | 58.20 |
Vested | (76,060) |  |  | $ | 54.49 |
Forfeited/canceled | (25,645) |  |  | $ | 62.17 |
Outstanding at August 31, 2024 | 224,011 |  |  | $ | 61.28 |
(1) Number of shares in the above table are shown in whole numbers.
Summary of Stock Option Activity | A summary of stock option activity for Fiscal 2024 is as follows:
| Stock Options(1) |  | Weighted Average Exercise Price Per Share |  | Weighted Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value
Outstanding at August 26, 2023 | 388,980 |  |  | $ | 46.70 |  |  |  |  |
Granted | 70,299 |  |  | $ | 58.68 |  |  |  |  |
Exercised | (8,161) |  |  | $ | 31.70 |  |  |  |  |
Forfeited/canceled | (12,719) |  |  | $ | 60.00 |  |  |  |  |
Outstanding at August 31, 2024 | 438,399 |  |  | $ | 48.51 |  |  | 5.5 |  | $ | 5.5 |
Exercisable at August 31, 2024 | 322,767 |  |  | $ | 44.57 |  |  | 4.4 |  | $ | 5.3 |
(1) Number of shares in the above table are shown in whole numbers.
Fair Value of Stock Options Using Black-Scholes Option-Pricing Model Assumptions | The fair value of each stock option is estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions:
Valuation Assumptions(1) | 2024 |  | 2023 |  | 2022
Expected dividend yield | 2.1 | % |  | 1.9 | % |  | 1.0 | %
Risk-free interest rate(2) | 4.6 | % |  | 4.1 | % |  | 1.1 | %
Expected life of stock options (in years)(3) | 5 |  | 5 |  | 5
Expected stock price volatility(4) | 50.8 | % |  | 50.8 | % |  | 48.5 | %
Weighted average fair value of options granted | $ | 25.10 |  |  | $ | 23.94 |  |  | $ | 30.47 |
(1) Forfeitures are recorded when they occur. (2) Based on U.S. Treasury constant maturity interest rate whose term is consistent with the expected life of the stock options. (3) Estimated based on historical experience. (4) Based on historical experience over a term consistent with the expected life of the stock options.

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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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