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Shareholders' Equity
 12 Months Ended
Aug. 31, 2022
Shareholders' Equity [Abstract]  
Shareholders' Equity 10. SHAREHOLDERS’ EQUITY

Preferred Stock

We have 14.0 million shares of preferred stock authorized for issuance. At August 31, 2022 and 2021, no shares of preferred stock were issued or outstanding.

Treasury Stock

On November 15, 2019, our Board of Directors approved a new plan to repurchase up to $40.0 million of our outstanding common stock. The previously existing common stock repurchase plan was canceled and the new common share repurchase plan does not have an expiration date. During fiscal 2022, we purchased 499,411 shares of our common stock for $20.3 million in open market purchases. The actual timing, number, and value of common shares repurchased under this plan will be determined at our discretion and will depend on a number of factors, including, among others, general market and business conditions, the trading price of our common shares, and applicable legal requirements. We have no obligation to repurchase any common shares under the authorization, and the repurchase plan may be suspended, discontinued, or modified at any time for any reason.

During fiscal 2022, we withheld 86,125 shares of common stock, with a cost basis of $3.5 million, for statutory taxes on stock-based compensation awards (Note 12). Shares withheld for income taxes were valued at the market price on the date the stock-based plan shares were distributed to participants. The cost of common stock purchased for treasury on our consolidated statement of cash flows for fiscal 2021 was entirely comprised of 147,092 shares withheld for income taxes on various stock-based compensation awards, which had a total cost of $3.0 million. Our cash paid for shares of common stock in fiscal 2020 was comprised of 284,608 shares purchased from Knowledge Capital Investment Group (Note 17), 109,896 shares withheld for statutory income taxes on various stock-based compensation plans which were valued at $3.7 million, and 5,000 shares purchased under the terms of our fiscal 2020 Board-approved purchase plan.