FAIR VALUE MEASURES (Tables)

6 Months Ended

Feb. 28, 2026

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables show, by level within the fair value hierarchy, our assets and liabilities that are measured at fair value on a recurring basis as of February 28, 2026 and August 31, 2025. We did not have any transfers between levels of fair value measurements during the six months ended February 28, 2026 and the fiscal year ended August 31, 2025.


	Fair Value Measurements as of February 28, 2026
(in thousands)	Level 1		Level 2		Level 3		Total
Assets
Money market funds(1)	$	33,389	$	—	$	—	$	33,389
Mutual funds(2)	—		16,929		—		16,929

Derivative instruments(3)	—		476		—		476
Total assets measured at fair value	$	33,389	$	17,405	$	—	$	50,794

Liabilities
Derivative instruments(3)	$	—	$	1,115	$	—	$	1,115
Contingent liabilities(4)	—		—		13,080		13,080
Total liabilities measured at fair value	$	—	$	1,115	$	13,080	$	14,195


	Fair Value Measurements as of August 31, 2025
(in thousands)	Level 1		Level 2		Level 3		Total
Assets
Money market funds(1)	$	8,649	$	—	$	—	$	8,649
Mutual funds(2)	—		17,445		—		17,445

Derivative instruments(3)	—		3,590		—		3,590
Total assets measured at fair value	$	8,649	$	21,035	$	—	$	29,684

Liabilities
Derivative instruments(3)	$	—	$	808	$	—	$	808
Contingent liabilities(4)	—		—		24,126		24,126
Total liabilities measured at fair value	$	—	$	808	$	24,126	$	24,934

(1) Our money market funds are readily convertible into cash and are reported based on their net asset value, which represents its fair value, on the last day of the reporting period. The net asset values are readily determinable and represent the prices of active trading in the market. Our money market funds are included in Cash and cash equivalents within the Consolidated Balance Sheets.

(2) Our mutual funds' fair value is based on the fair value of the underlying investments held by the mutual funds, allocated to each share of the mutual fund using a net asset value approach. The fair value of each underlying investment is based on observable inputs, when available, or pricing from valuation agencies. Our mutual funds are included in Investments within the Consolidated Balance Sheets.

(3) Our derivative instruments consist of foreign exchange forward contracts and, when applicable, an interest rate swap agreement, refer to Note 10, Debt for more information. We utilized the income approach to measure fair value for our foreign exchange forward contracts. The income approach uses pricing models that rely on market observable inputs such as spot, forward and interest rates, as well as credit default swap spreads. To estimate fair value for our interest rate swap agreements, we utilized a present value of future cash flows, leveraging a model-derived valuation that uses observable inputs such as interest rate yield curves. Our derivative instruments in an asset position are included in Prepaid expenses and other current assets and those in a liability position are included in Accounts payable and accrued expenses within the Consolidated Balance Sheets.

(4) Our contingent liabilities resulted from the acquisitions of various businesses. These liabilities reflect the present value of potential future payments that are contingent upon the achievement of certain specified milestones and are valued using a scenario-based method. This

method incorporates unobservable inputs and assumptions made by management, including the probability of achieving specified milestones, expected time until payment and the discount rate. Refer to Note 5, Acquisitions, for more information on the contingent liabilities associated with the Liquid Holdings LLC ("LiquidityBook") and Platform Group Limited ("Irwin") acquisitions.

Schedule of Principal Amount and Fair Value of Outstanding Debt

The following table summarizes information on our outstanding debt as of February 28, 2026 and August 31, 2025:


		February 28, 2026				August 31, 2025
(in thousands)	Fair Value Hierarchy	Principal Amount		Estimated Fair Value		Principal Amount		Estimated Fair Value
2027 Notes	Level 1	$	500,000	$	493,620	$	500,000	$	490,565
2032 Notes	Level 1	500,000		458,165		500,000		460,440
2025 Term Facility	Level 3	375,000		373,983		375,000		374,866


Total principal amount		$	1,375,000	$	1,325,768	$	1,375,000	$	1,325,871
Total unamortized discounts and debt issuance costs(1)		(5,784)				(6,740)
Total net carrying value of debt(1)		$	1,369,216			$	1,368,260

(1) Amounts exclude the unamortized debt issuance costs related to the 2025 Revolving Facility which are presented within Other assets on the Consolidated Balance Sheets.