0001144215-23-000071.txt : 20230629 0001144215-23-000071.hdr.sgml : 20230629 20230629074303 ACCESSION NUMBER: 0001144215-23-000071 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20230629 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20230629 DATE AS OF CHANGE: 20230629 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ACUITY BRANDS INC CENTRAL INDEX KEY: 0001144215 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC LIGHTING & WIRING EQUIPMENT [3640] IRS NUMBER: 582632672 STATE OF INCORPORATION: DE FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-16583 FILM NUMBER: 231054344 BUSINESS ADDRESS: STREET 1: 1170 PEACHTREE STREET NE STREET 2: SUITE 1200 CITY: ATLANTA STATE: GA ZIP: 30309-7676 BUSINESS PHONE: 404-853-1400 MAIL ADDRESS: STREET 1: 1170 PEACHTREE STREET NE STREET 2: SUITE 1200 CITY: ATLANTA STATE: GA ZIP: 30309-7676 FORMER COMPANY: FORMER CONFORMED NAME: L&C SPINCO INC DATE OF NAME CHANGE: 20010629 8-K 1 ayi-20230629.htm 8-K ayi-20230629
0001144215false00011442152023-06-292023-06-29



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

_____________________________________________
FORM 8-K
_____________________________________________

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): June 29, 2023
_____________________________________________
ACUITY BRANDS, INC.
(Exact name of registrant as specified in its charter)
_____________________________________________
Delaware001-1658358-2632672
(State or other jurisdiction of
incorporation or organization)		(Commission File Number)(IRS. Employer
Identification Number)

1170 Peachtree Street, N.E., Suite 1200, Atlanta, Georgia 30309
(Address of principal executive offices)
(404) 853-1400
(Registrant’s telephone number, including area code)
None
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common stock, $0.01 par value per shareAYINew York Stock Exchange
Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
 




Item 2.02. Results of Operations and Financial Condition.
On June 29, 2023, Acuity Brands, Inc. (“we,” “our,” “us,” “the Company,” or similar references) issued a press release containing information about our results of operations for our fiscal quarter ended May 31, 2023. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K, which is incorporated herein by reference. The information contained in this paragraph, as well as Exhibit 99.1 referenced herein, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.
Item 9.01. Financial Statements and Exhibits.
 
(d)Exhibits

99.1
104Cover Page Interactive Data File (embedded within the inline XBRL document).
2

Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: June 29, 2023
ACUITY BRANDS, INC.
By: /s/ Karen J. Holcom
 Karen J. Holcom
 Senior Vice President and Chief Financial Officer


3
 EX-99.1 2 ayi-20230629x8xk_ex991.htm EX-99.1 Document
Press Release
Exhibit 99.1


Investor Contact:
Charlotte McLaughlin
Vice President, Investor Relations
(404) 853-1456
investorrelations@acuitybrands.com

Media Contact:
Cathy Lewandowski
Senior Manager, External Communications
Catherine.Lewandowski@acuitybrands.com

Acuity Brands Reports Fiscal 2023 Third-Quarter Results
Margin Expansion and Strong Cash Flow Generation
■Improved Operating Profit Margin 80 Basis Points Over the Prior Year and Adjusted Operating Profit Margin 100 Basis Points Over the Prior Year
■Grew Diluted EPS and Adjusted Diluted EPS 7 Percent Over the Prior Year
■Generated Strong Cash Flow from Operations and Allocated Capital to the Acquisition of KE2 Therm and the Continued Repurchasing of Outstanding Shares

ATLANTA, June 29, 2023 - Acuity Brands, Inc. (NYSE: AYI) (the "Company"), a market-leading industrial technology company, announced net sales of $1.0 billion in the third quarter of fiscal 2023 ended May 31, 2023, a decrease of 5.7 percent, or $60.3 million compared to the prior year.

"In the third quarter of fiscal 2023, we expanded adjusted operating profit margin both sequentially and year-over-year. We continued to grow adjusted diluted earnings per share and we generated strong cash flow from operations, despite a decline in net sales." stated Neil Ashe, Chairman, President and Chief Executive Officer of Acuity Brands, Inc. "We completed the acquisition of KE2 Therm, and we continued to repurchase our shares."

Operating profit was $143.3 million in the third quarter of fiscal 2023, an increase of $0.6 million, compared to the prior year. Operating profit as a percent of net sales was 14.3 percent in the third quarter of fiscal 2023, an increase of 80 basis points, compared to the prior year. Adjusted operating profit was $162.9 million in the third quarter of fiscal 2023, an increase of $0.1 million, compared to the prior year. Adjusted operating profit as a percent of net sales was 16.3 percent in the third quarter of fiscal 2023, an increase of 100 basis points, compared to the prior year.
Diluted earnings per share was $3.28 in the third quarter of fiscal 2023, an increase of $0.21, or 6.8 percent, compared to the prior year. Adjusted diluted earnings per share was $3.75 in the third quarter of fiscal 2023, an increase of $0.23, or 6.5 percent, from $3.52, in the prior year.


1
Press Release
Exhibit 99.1
Segment Performance
Acuity Brands Lighting and Lighting Controls ("ABL")
ABL generated net sales of $940.7 million in the third quarter of fiscal 2023, a decrease of $67.7 million, or 6.7 percent, compared to the prior year.
ABL operating profit was $150.0 million in the third quarter of fiscal 2023, an increase of $0.4 million, compared to the prior year. ABL operating profit as a percent of ABL net sales was 15.9 percent in the third quarter of fiscal 2023, an increase of 110 basis points compared to the prior year. ABL adjusted operating profit was $159.7 million in the third quarter of fiscal 2023, a decrease of $0.1 million, compared to the prior year. ABL adjusted operating profit as a percent of ABL net sales was 17.0 percent in the third quarter of fiscal 2023, an increase of 120 basis points compared to the prior year.
Intelligent Spaces Group ("ISG")
ISG generated net sales of $65.8 million in the third quarter of fiscal 2023, an increase of $7.5 million, or 12.9 percent, compared to the prior year.
ISG operating profit was $8.6 million in the third quarter of fiscal 2023, a decrease of $0.6 million, compared to the prior year. ISG adjusted operating profit was $12.8 million in the third quarter of fiscal 2023, a decrease of $0.8 million, compared to the prior year.
Cash Flow and Capital Allocation
Net cash from operating activities was $471.5 million for the first nine months of fiscal 2023, an increase of $305.8 million compared to the prior year due primarily to an improvement in our working capital.
During the first nine months of fiscal 2023, the Company repurchased approximately 1.3 million shares of common stock for a total of $219 million.
In the third quarter of fiscal 2023, the Company announced that it had completed the acquisition of KE2 Therm.
Today's Call Details
The Company will host a conference call at 8:00 a.m. (ET) today, Thursday, June 29, 2023. Neil Ashe, Chairman, President and Chief Executive Officer of Acuity Brands, Inc. will lead the call. The conference call and earnings release can be accessed via the Investor Relations section of the Company's website at www.investors.acuitybrands.com. A replay of the call will also be posted to the Investor Relations website within two hours of the completion of the conference call and will be available on the website for a limited time.
About Acuity Brands
Acuity Brands, Inc. (NYSE: AYI) is a market-leading industrial technology company. We use technology to solve problems in spaces, light, and more things to come. Through our two business segments, Acuity Brands Lighting and Lighting Controls (ABL) and the Intelligent Spaces Group (ISG), we design, manufacture, and bring to market products and services that make a valuable difference in people’s lives.

2
Press Release
Exhibit 99.1
We achieve growth through the development of innovative new products and services, including lighting, lighting controls, building management solutions, and location-aware applications. We achieve customer-focused efficiencies that allow us to increase market share and deliver superior returns. We look to aggressively deploy capital to grow the business and to enter attractive new verticals.
Acuity Brands, Inc. is based in Atlanta, Georgia, with operations across North America, Europe, and Asia. The Company is powered by more than 13,000 dedicated and talented associates. Visit us at www.acuitybrands.com
Non-GAAP Financial Measures
This news release includes the following non-generally accepted accounting principles ("GAAP") financial measures: “adjusted operating profit” and “adjusted operating profit margin” for total company and by segment; “adjusted net income;” “adjusted diluted EPS;” “earnings before interest, taxes, depreciation, and amortization (“EBITDA”);” and “adjusted EBITDA”. These non-GAAP financial measures are provided to enhance the reader's overall understanding of the Company's current financial performance and prospects for the future. Specifically, management believes that these non-GAAP measures provide useful information to investors by excluding or adjusting items for amortization of acquired intangible assets, share-based payment expense, loss on sale of business, and special charges associated with continued efforts to streamline the organization and integrate recent acquisitions.
We also provide “free cash flow" (“FCF”) to enhance the reader’s understanding of the Company’s ability to generate additional cash from its business.
Management typically adjusts for these items for internal reviews of performance and uses the above non-GAAP measures for baseline comparative operational analysis, decision making, and other activities. Management believes these non-GAAP measures provide greater comparability and enhanced visibility into the Company’s results of operations as well as comparability with many of its peers, especially those companies focused more on technology and software. Non-GAAP financial measures included in this news release should be considered in addition to, and not as a substitute for or superior to, results prepared in accordance with GAAP.
The most directly comparable GAAP measures for adjusted operating profit and adjusted operating profit margin for total company and by segment are “operating profit” and “operating profit margin,” respectively, for total company and by segment, which include the impact of amortization of acquired intangible assets, share-based payment expense, and special charges. Adjusted operating profit margin is adjusted operating profit divided by net sales for total company and by segment. The most directly comparable GAAP measures for adjusted net income and adjusted diluted EPS are “net income” and “diluted EPS,” respectively, which include the impact of amortization of acquired intangible assets, loss on sale of business, share-based payment expense, and special charges. Adjusted diluted EPS is adjusted net income divided by diluted weighted average shares outstanding. The most directly comparable GAAP measure for EBITDA is “net income”, which includes the impact of net interest expense, income taxes, depreciation, and amortization of acquired intangible assets. The most directly comparable GAAP measure for adjusted EBITDA is “net income”, which includes the impact of net interest expense, income taxes, depreciation, amortization of acquired intangible assets, share-based payment expense, special charges, and miscellaneous (income) expense, net. A reconciliation of each measure to the most directly comparable GAAP measure is available in this news release.

3
Press Release
Exhibit 99.1
The Company defines FCF as net cash provided by operating activities less purchases of property, plant and equipment. A calculation of this measure is available in this news release.
The Company’s non-GAAP financial measures may not be comparable to similarly titled non-GAAP financial measures used by other companies, have limitations as an analytical tool, and should not be considered in isolation or as a substitute for GAAP financial measures. Our presentation of such measures, which may include adjustments to exclude unusual or non-recurring items, should not be construed as an inference that our future results will be unaffected by other unusual or non-recurring items.
Forward-Looking Information
This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 (the “Act”). Forward-looking statements use words such as “expect,” “believe,” “intend,” “anticipate,” “indicative,” “projection,” “predict,” “plan,” “may,” “could,” “should,” “would,” “potential,” and words of similar meaning, as well as other words or expressions referencing future events, conditions, or circumstances. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Act. Statements that describe or relate to the Company’s plans, goals, intentions, strategies, or financial outlook, and statements that do not relate to historical or current fact, are examples of forward-looking statements. Forward-looking statements are not guarantees of future performance. Our forward-looking statements are based on our current beliefs, expectations, and assumptions, which may not prove to be accurate, and are subject to known and unknown risks and uncertainties, many of which are outside of our control. These risks and uncertainties could cause actual results to differ materially from our historical experience and management’s present expectations or projections. These risks and uncertainties are discussed in our filings with the U.S. Securities and Exchange Commission, including our most recent annual report on Form 10-K (including, but not limited to, Part I, Item 1a Risk Factors), quarterly reports on Form 10-Q, and current reports on Form 8-K. Any forward-looking statement speaks only as of the date on which it is made. You are cautioned not to place undue reliance on any forward-looking statements. Except as required by law, we undertake no obligation to publicly update or release any revisions to these forward-looking statements to reflect any events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, whether as a result of new information, future events, or otherwise.

4
Press Release
Exhibit 99.1
ACUITY BRANDS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions, except share data)
 May 31, 2023August 31, 2022
 (unaudited)
ASSETS
Current assets: 
Cash and cash equivalents$359.3 $223.2 
Accounts receivable, less reserve for doubtful accounts of $1.3 and $1.2, respectively
545.0 665.9 
Inventories400.5 485.7 
Prepayments and other current assets103.6 91.2 
Total current assets1,408.4 1,466.0 
Property, plant, and equipment, net290.4 276.5 
Operating lease right-of-use assets84.8 74.9 
Goodwill1,096.7 1,084.3 
Intangible assets, net504.9 529.2 
Deferred income taxes1.3 1.3 
Other long-term assets52.4 48.0 
Total assets$3,438.9 $3,480.2 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities: 
Accounts payable$344.3 $397.8 
Current maturities of debt— 18.0 
Current operating lease liabilities19.2 15.7 
Accrued compensation83.1 88.0 
Other current liabilities177.6 214.1 
Total current liabilities624.2 733.6 
Long-term debt495.4 495.0 
Long-term operating lease liabilities78.0 67.4 
Accrued pension liabilities41.9 41.4 
Deferred income taxes103.2 102.1 
Other long-term liabilities126.4 128.9 
Total liabilities1,469.1 1,568.4 
Stockholders’ equity: 
Preferred stock, $0.01 par value; 50,000,000 shares authorized; none issued— — 
Common stock, $0.01 par value; 500,000,000 shares authorized; 54,400,920 and 54,241,069 issued, respectively
0.5 0.5 
Paid-in capital1,056.9 1,036.3 
Retained earnings3,426.6 3,176.2 
Accumulated other comprehensive loss(120.0)(125.8)
Treasury stock, at cost, of 23,055,460 and 21,753,820 shares, respectively
(2,394.2)(2,175.4)
Total stockholders’ equity1,969.8 1,911.8 
Total liabilities and stockholders’ equity$3,438.9 $3,480.2 


5
Press Release
Exhibit 99.1
ACUITY BRANDS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
(In millions, except per share data)
 Three Months EndedNine Months Ended
 May 31, 2023May 31, 2022May 31, 2023May 31, 2022
Net sales$1,000.3 $1,060.6 $2,941.8 $2,895.8 
Cost of products sold553.0 615.5 1,671.3 1,685.6 
Gross profit447.3 445.1 1,270.5 1,210.2 
Selling, distribution, and administrative expenses304.0 302.4 899.9 850.1 
Special charges— — 6.9 — 
Operating profit143.3 142.7 363.7 360.1 
Other expense: 
Interest expense, net3.9 6.2 16.2 18.1 
Miscellaneous expense (income), net0.7 (1.5)6.1 (3.1)
Total other expense4.6 4.7 22.3 15.0 
Income before income taxes138.7 138.0 341.4 345.1 
Income tax expense33.7 32.3 78.3 76.5 
Net income$105.0 $105.7 $263.1 $268.6 
Earnings per share(1):
 
Basic earnings per share$3.31 $3.10 $8.22 $7.75 
Basic weighted average number of shares outstanding31.682 34.079 32.006 34.659 
Diluted earnings per share$3.28 $3.07 $8.13 $7.66 
Diluted weighted average number of shares outstanding32.011 34.440 32.360 35.067 
Dividends declared per share$0.13 $0.13 $0.39 $0.39 
(1) Earnings per share is calculated using unrounded numbers. Amounts in the table may not recalculate exactly due to rounding.

6
Press Release
Exhibit 99.1
ACUITY BRANDS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
(In millions)
 Nine Months Ended
 May 31, 2023May 31, 2022
Cash flows from operating activities:
Net income$263.1 $268.6 
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization70.4 71.4 
Share-based payment expense32.4 27.5 
Gain on sale of property, plant, and equipment— (2.3)
Asset impairment4.3 1.7 
Loss on sale of a business11.2 — 
Changes in operating assets and liabilities, net of acquisitions and divestitures:
Accounts receivable123.9 (27.2)
Inventories82.6 (174.5)
Prepayments and other current assets(9.6)(38.3)
Accounts payable(53.4)58.9 
Other(53.4)(20.1)
Net cash provided by operating activities471.5 165.7 
Cash flows from investing activities:  
Purchases of property, plant, and equipment(48.0)(38.0)
Proceeds from sale of property, plant, and equipment— 8.9 
Acquisition of businesses, net of cash acquired(35.4)(12.2)
Other investing activities7.0 (1.9)
Net cash used for investing activities(76.4)(43.2)
Cash flows from financing activities:  
Repayments on credit facility, net of borrowings(18.0)122.0 
Repurchases of common stock(216.2)(403.5)
Proceeds from stock option exercises and other2.1 10.6 
Payments of taxes withheld on net settlement of equity awards(13.9)(8.0)
Dividends paid(12.7)(13.7)
Net cash used for financing activities(258.7)(292.6)
Effect of exchange rate changes on cash and cash equivalents(0.3)(3.0)
Net change in cash and cash equivalents136.1 (173.1)
Cash and cash equivalents at beginning of period223.2 491.3 
Cash and cash equivalents at end of period$359.3 $318.2 




7
Press Release
Exhibit 99.1
ACUITY BRANDS, INC.
DISAGGREGATED NET SALES
(In millions)

The following tables show net sales by channel for the periods presented:
Three Months Ended
May 31, 2023May 31, 2022Increase (Decrease)Percent Change
ABL:
Independent sales network$686.0 $725.9 $(39.9)(5.5)%
Direct sales network103.9 96.1 7.8 8.1 %
Retail sales48.0 44.7 3.3 7.4 %
Corporate accounts44.4 59.1 (14.7)(24.9)%
Original equipment manufacturer and other58.4 82.6 (24.2)(29.3) %
Total ABL940.7 1,008.4 (67.7)(6.7)%
ISG65.8 58.3 7.5 12.9 %
Eliminations(6.2)(6.1)(0.1)1.6 %
Total$1,000.3 $1,060.6 $(60.3)(5.7)%
Nine Months Ended
May 31, 2023May 31, 2022Increase (Decrease)Percent Change
ABL:
Independent sales network$1,995.0 $1,977.0 $18.0 0.9 %
Direct sales network305.0 269.3 35.7 13.3 %
Retail sales148.3 134.3 14.0 10.4 %
Corporate accounts147.5 149.7 (2.2)(1.5)%
Original equipment manufacturer and other182.8 224.8 (42.0)(18.7) %
Total ABL2,778.6 2,755.1 23.5 0.9 %
ISG180.8 154.7 26.1 16.9 %
Eliminations(17.6)(14.0)(3.6)25.7 %
Total$2,941.8 $2,895.8 $46.0 1.6 %


8
Press Release
Exhibit 99.1
ACUITY BRANDS, INC.
Reconciliation of Non-U.S. GAAP Measures
The tables below reconcile certain GAAP financial measures to the corresponding non-GAAP measures for total Company as well as our reportable operating segments (in millions except per share data):
Three Months Ended
 May 31, 2023May 31, 2022Increase (Decrease)Percent Change
Net sales$1,000.3 $1,060.6 $(60.3)(5.7)%
Operating profit (GAAP)$143.3 $142.7 $0.6 0.4  %
Percent of net sales14.3 %13.5 %80 bps
Add-back: Amortization of acquired intangible assets9.2 10.2 
Add-back: Share-based payment expense10.4 9.9 
Adjusted operating profit (Non-GAAP)$162.9 $162.8 $0.1 0.1 %
Percent of net sales (Non-GAAP)16.3 %15.3 %100 bps
Net income (GAAP)$105.0 $105.7 $(0.7)(0.7) %
Add-back: Amortization of acquired intangible assets9.2 10.2 
Add-back: Share-based payment expense10.4 9.9 
Total pre-tax adjustments to net income19.6 20.1 
Income tax effects(4.5)(4.5)
Adjusted net income (Non-GAAP)$120.1 $121.3 $(1.2)(1.0)%
Diluted earnings per share (GAAP)$3.28 $3.07 $0.21 6.8  %
Adjusted diluted earnings per share (Non-GAAP)$3.75 $3.52 $0.23 6.5 %
Net income (GAAP)$105.0 $105.7 $(0.7)(0.7)%
Interest expense, net3.9 6.2 
Income tax expense33.7 32.3 
Depreciation12.7 13.3 
Amortization9.2 10.2 
EBITDA (Non-GAAP)164.5 167.7 (3.2)(1.9) %
Share-based payment expense10.4 9.9 
Miscellaneous expense (income), net0.7 (1.5)
Adjusted EBITDA (Non-GAAP)$175.6 $176.1 $(0.5)(0.3)%

9
Press Release
Exhibit 99.1
Three Months Ended
ABLMay 31, 2023May 31, 2022Increase (Decrease)Percent Change
Net sales$940.7 $1,008.4 $(67.7)(6.7)%
Operating profit (GAAP)$150.0 $149.6 $0.4 0.3  %
Add-back: Amortization of acquired intangible assets 6.1 7.0 
Add-back: Share-based payment expense3.6 3.2 
Adjusted operating profit (Non-GAAP)$159.7 $159.8 $(0.1)(0.1)%
Operating profit margin (GAAP)15.9 %14.8 %110 bps
Adjusted operating profit margin (Non-GAAP)17.0 %15.8 %120 bps
Three Months Ended
ISGMay 31, 2023May 31, 2022Increase (Decrease)Percent Change
Net sales$65.8 $58.3 $7.5 12.9 %
Operating profit (GAAP)$8.6 $9.2 $(0.6)(6.5)%
Add-back: Amortization of acquired intangible assets3.1 3.2 
Add-back: Share-based payment expense1.1 1.2 
Adjusted operating profit (Non-GAAP)$12.8 $13.6 $(0.8)(5.9)%
Operating profit margin (GAAP)13.1 %15.8 %(270)bps
Adjusted operating profit margin (Non-GAAP)19.5 %23.3 %(380)bps

10
Press Release
Exhibit 99.1
(In millions, except per share data)Nine Months Ended
 May 31, 2023May 31, 2022Increase (Decrease)Percent Change
Net sales$2,941.8 $2,895.8 $46.0 1.6 %
Operating profit (GAAP)$363.7 $360.1 $3.6 1.0 %
Percent of net sales12.4 %12.4 %— bps
Add-back: Amortization of acquired intangible assets32.1 30.8 
Add-back: Share-based payment expense32.4 27.5 
Add-back: Special charges6.9 — 
Adjusted operating profit (Non-GAAP)$435.1 $418.4 $16.7 4.0 %
Percent of net sales14.8 %14.4 %40 bps
Net income (GAAP)$263.1 $268.6 $(5.5)(2.0)%
Add-back: Amortization of acquired intangible asset32.1 30.8 
Add-back: Share-based payment expense32.4 27.5 
Add-back: Loss on sale of a business11.2 — 
Add-back: Special charges6.9 — 
Total pre-tax adjustments to net income82.6 58.3 
Income tax effect(19.1)(13.3)
Adjusted net income (Non-GAAP)$326.6 $313.6 $13.0 4.1 %
Diluted earnings per share (GAAP)$8.13 $7.66 $0.47 6.1 %
Adjusted diluted earnings per share (Non-GAAP)$10.09 $8.94 $1.15 12.9 %
Net income (GAAP)$263.1 $268.6 $(5.5)(2.0)%
Interest expense, net16.2 18.1 
Income tax expense78.3 76.5 
Depreciation38.3 40.6 
Amortization32.1 30.8 
EBITDA (Non-GAAP)428.0 434.6 $(6.6)(1.5)%
Share-based payment expense32.4 27.5 
Miscellaneous expense (income), net6.1 (3.1)
Special charges6.9 — 
Adjusted EBITDA (Non-GAAP)$473.4 $459.0 $14.4 3.1 %


11
Press Release
Exhibit 99.1
Nine Months Ended
ABLMay 31, 2023May 31, 2022Increase (Decrease)Percent Change
Net sales$2,778.6 $2,755.1 $23.5 0.9 %
Operating profit$391.7 $394.2 $(2.5)(0.6)%
Add-back: Amortization of acquired intangible assets (1)
22.8 21.2 
Add-back: Share-based payment expense10.4 9.5 
Add-back: Special charges6.9 — 
Adjusted operating profit$431.8 $424.9 $6.9 1.6 %
Operating profit margin14.1 %14.3 %(20)bps
Adjusted operating profit margin15.5 %15.4 %10 bps
(1) Amortization expense for the first nine months of fiscal 2023 includes accelerated amortization of $4.0 million for certain discontinued brands.
Nine Months Ended
ISGMay 31, 2023May 31, 2022Increase (Decrease)Percent Change
Net sales$180.8 $154.7 $26.1 16.9 %
Operating profit$22.7 $12.4 $10.3 83.1 %
Add-back: Amortization of acquired intangible assets9.3 9.6 
Add-back: Share-based payment expense3.9 3.3 
Adjusted operating profit$35.9 $25.3 $10.6 41.9 %
Operating profit margin12.6 %8.0 %460bps
Adjusted operating profit margin19.9 %16.4 %350bps
Nine Months Ended
 May 31, 2023May 31, 2022Increase (Decrease)Percent Change
Net cash provided by operating activities (GAAP)$471.5 $165.7 $305.8 184.6 %
Less: Purchases of property, plant, and equipment(48.0)(38.0)
Free cash flow (Non-GAAP)$423.5 $127.7 $295.8 231.6 %





12
 EX-101.SCH 3 ayi-20230629.xsd XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 0000001 - Document - Cover Page link:presentationLink link:calculationLink link:definitionLink EX-101.LAB 4 ayi-20230629_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT Written Communications Written Communications Security Exchange Name Security Exchange Name Title of 12(b) Security Title of 12(b) Security Local Phone Number Local Phone Number Trading Symbol Trading Symbol Entity Incorporation, State or Country Code Entity Incorporation, State or Country Code Entity Address, State or Province Entity Address, State or Province Pre-commencement Issuer Tender Offer Pre-commencement Issuer Tender Offer Document Period End Date Document Period End Date Cover [Abstract] Cover [Abstract] Entity Emerging Growth Company Entity Emerging Growth Company Pre-commencement Tender Offer Pre-commencement Tender Offer Soliciting Material Soliciting Material City Area Code City Area Code Entity Address, Postal Zip Code Entity Address, Postal Zip Code Document Type Document Type Amendment Flag Amendment Flag Entity Central Index Key Entity Central Index Key Entity File Number Entity File Number Entity Address, City or Town Entity Address, City or Town Entity Tax Identification Number Entity Tax Identification Number Entity Address, Address Line One Entity Address, Address Line One Entity Address, Address Line Two Entity Address, Address Line Two Entity Registrant Name Entity Registrant Name EX-101.PRE 5 ayi-20230629_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT XML 6 R1.htm IDEA: XBRL DOCUMENT v3.23.2
Cover Page
Jun. 29, 2023
Cover [Abstract]  
Document Type 8-K
Document Period End Date Jun. 29, 2023
Entity File Number 001-16583
Entity Registrant Name ACUITY BRANDS, INC.
Entity Incorporation, State or Country Code DE
Entity Tax Identification Number 58-2632672
Entity Address, Address Line One 1170 Peachtree Street, N.E.
Entity Address, Address Line Two Suite 1200
Entity Address, City or Town Atlanta
Entity Address, State or Province GA
Entity Address, Postal Zip Code 30309
City Area Code 404
Local Phone Number 853-1400
Title of 12(b) Security Common stock, $0.01 par value per share
Trading Symbol AYI
Security Exchange Name NYSE
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Entity Central Index Key 0001144215
Amendment Flag false
XML 7 ayi-20230629_htm.xml IDEA: XBRL DOCUMENT 0001144215 2023-06-29 2023-06-29 0001144215 false 8-K 2023-06-29 ACUITY BRANDS, INC. DE 001-16583 58-2632672 1170 Peachtree Street, N.E. Suite 1200 Atlanta GA 30309 404 853-1400 false false false false Common stock, $0.01 par value per share AYI NYSE false EXCEL 8 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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end XML 9 Show.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} XML 10 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 11 FilingSummary.xml IDEA: XBRL DOCUMENT 3.23.2 html 1 23 1 false 0 0 false 0 false false R1.htm 0000001 - Document - Cover Page Sheet http://www.acuitybrands.com/role/CoverPage Cover Page Cover 1 false false All Reports Book All Reports ayi-20230629.htm ayi-20230629.xsd ayi-20230629_lab.xml ayi-20230629_pre.xml ayi-20230629x8xk_ex991.htm http://xbrl.sec.gov/dei/2023 true false JSON 13 MetaLinks.json IDEA: XBRL DOCUMENT { "instance": { "ayi-20230629.htm": { "axisCustom": 0, "axisStandard": 0, "baseTaxonomies": { "http://xbrl.sec.gov/dei/2023": 23 }, "contextCount": 1, "dts": { "inline": { "local": [ "ayi-20230629.htm" ] }, "labelLink": { "local": [ "ayi-20230629_lab.xml" ] }, "presentationLink": { "local": [ "ayi-20230629_pre.xml" ] }, "schema": { "local": [ "ayi-20230629.xsd" ], "remote": [ "http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd", "http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd", "http://www.xbrl.org/2003/xl-2003-12-31.xsd", "http://www.xbrl.org/2003/xlink-2003-12-31.xsd", "http://www.xbrl.org/2005/xbrldt-2005.xsd", "http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd", "http://www.xbrl.org/lrr/role/net-2009-12-16.xsd", "https://www.xbrl.org/dtr/type/2022-03-31/types.xsd", "https://xbrl.sec.gov/dei/2023/dei-2023.xsd" ] } }, "elementCount": 24, "entityCount": 1, "hidden": { "http://xbrl.sec.gov/dei/2023": 2, "total": 2 }, "keyCustom": 0, "keyStandard": 23, "memberCustom": 0, "memberStandard": 0, "nsprefix": "ayi", "nsuri": "http://www.acuitybrands.com/20230629", "report": { "R1": { "firstAnchor": { "ancestors": [ "span", "div", "body", "html" ], "baseRef": "ayi-20230629.htm", "contextRef": "i0d7a558fb9074adaad43f06fe0a537b5_D20230629-20230629", "decimals": null, "first": true, "lang": "en-US", "name": "dei:DocumentType", "reportCount": 1, "unique": true, "unitRef": null, "xsiNil": "false" }, "groupType": "document", "isDefault": "true", "longName": "0000001 - Document - Cover Page", "menuCat": "Cover", "order": "1", "role": "http://www.acuitybrands.com/role/CoverPage", "shortName": "Cover Page", "subGroupType": "", "uniqueAnchor": { "ancestors": [ "span", "div", "body", "html" ], "baseRef": "ayi-20230629.htm", "contextRef": "i0d7a558fb9074adaad43f06fe0a537b5_D20230629-20230629", "decimals": null, "first": true, "lang": "en-US", "name": "dei:DocumentType", "reportCount": 1, "unique": true, "unitRef": null, "xsiNil": "false" } } }, "segmentCount": 0, "tag": { "dei_AmendmentFlag": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.", "label": "Amendment Flag", "terseLabel": "Amendment Flag" } } }, "localname": "AmendmentFlag", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://www.acuitybrands.com/role/CoverPage" ], "xbrltype": "booleanItemType" }, "dei_CityAreaCode": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Area code of city", "label": "City Area Code", "terseLabel": "City Area Code" } } }, "localname": "CityAreaCode", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://www.acuitybrands.com/role/CoverPage" ], "xbrltype": "normalizedStringItemType" }, "dei_CoverAbstract": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Cover page.", "label": "Cover [Abstract]", "terseLabel": "Cover [Abstract]" } } }, "localname": "CoverAbstract", "nsuri": "http://xbrl.sec.gov/dei/2023", "xbrltype": "stringItemType" }, "dei_DocumentPeriodEndDate": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.", "label": "Document Period End Date", "terseLabel": "Document Period End Date" } } }, "localname": "DocumentPeriodEndDate", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://www.acuitybrands.com/role/CoverPage" ], "xbrltype": "dateItemType" }, "dei_DocumentType": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.", "label": "Document Type", "terseLabel": "Document Type" } } }, "localname": "DocumentType", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://www.acuitybrands.com/role/CoverPage" ], "xbrltype": "submissionTypeItemType" }, "dei_EntityAddressAddressLine1": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Address Line 1 such as Attn, Building Name, Street Name", "label": "Entity Address, Address Line One", "terseLabel": "Entity Address, Address Line One" } } }, "localname": "EntityAddressAddressLine1", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://www.acuitybrands.com/role/CoverPage" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressAddressLine2": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Address Line 2 such as Street or Suite number", "label": "Entity Address, Address Line Two", "terseLabel": "Entity Address, Address Line Two" } } }, "localname": "EntityAddressAddressLine2", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://www.acuitybrands.com/role/CoverPage" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressCityOrTown": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Name of the City or Town", "label": "Entity Address, City or Town", "terseLabel": "Entity Address, City or Town" } } }, "localname": "EntityAddressCityOrTown", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://www.acuitybrands.com/role/CoverPage" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressPostalZipCode": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Code for the postal or zip code", "label": "Entity Address, Postal Zip Code", "terseLabel": "Entity Address, Postal Zip Code" } } }, "localname": "EntityAddressPostalZipCode", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://www.acuitybrands.com/role/CoverPage" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressStateOrProvince": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Name of the state or province.", "label": "Entity Address, State or Province", "terseLabel": "Entity Address, State or Province" } } }, "localname": "EntityAddressStateOrProvince", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://www.acuitybrands.com/role/CoverPage" ], "xbrltype": "stateOrProvinceItemType" }, "dei_EntityCentralIndexKey": { "auth_ref": [ "r1" ], "lang": { "en-us": { "role": { "documentation": "A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.", "label": "Entity Central Index Key", "terseLabel": "Entity Central Index Key" } } }, "localname": "EntityCentralIndexKey", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://www.acuitybrands.com/role/CoverPage" ], "xbrltype": "centralIndexKeyItemType" }, "dei_EntityEmergingGrowthCompany": { "auth_ref": [ "r1" ], "lang": { "en-us": { "role": { "documentation": "Indicate if registrant meets the emerging growth company criteria.", "label": "Entity Emerging Growth Company", "terseLabel": "Entity Emerging Growth Company" } } }, "localname": "EntityEmergingGrowthCompany", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://www.acuitybrands.com/role/CoverPage" ], "xbrltype": "booleanItemType" }, "dei_EntityFileNumber": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.", "label": "Entity File Number", "terseLabel": "Entity File Number" } } }, "localname": "EntityFileNumber", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://www.acuitybrands.com/role/CoverPage" ], "xbrltype": "fileNumberItemType" }, "dei_EntityIncorporationStateCountryCode": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Two-character EDGAR code representing the state or country of incorporation.", "label": "Entity Incorporation, State or Country Code", "terseLabel": "Entity Incorporation, State or Country Code" } } }, "localname": "EntityIncorporationStateCountryCode", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://www.acuitybrands.com/role/CoverPage" ], "xbrltype": "edgarStateCountryItemType" }, "dei_EntityRegistrantName": { "auth_ref": [ "r1" ], "lang": { "en-us": { "role": { "documentation": "The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.", "label": "Entity Registrant Name", "terseLabel": "Entity Registrant Name" } } }, "localname": "EntityRegistrantName", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://www.acuitybrands.com/role/CoverPage" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityTaxIdentificationNumber": { "auth_ref": [ "r1" ], "lang": { "en-us": { "role": { "documentation": "The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.", "label": "Entity Tax Identification Number", "terseLabel": "Entity Tax Identification Number" } } }, "localname": "EntityTaxIdentificationNumber", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://www.acuitybrands.com/role/CoverPage" ], "xbrltype": "employerIdItemType" }, "dei_LocalPhoneNumber": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Local phone number for entity.", "label": "Local Phone Number", "terseLabel": "Local Phone Number" } } }, "localname": "LocalPhoneNumber", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://www.acuitybrands.com/role/CoverPage" ], "xbrltype": "normalizedStringItemType" }, "dei_PreCommencementIssuerTenderOffer": { "auth_ref": [ "r3" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.", "label": "Pre-commencement Issuer Tender Offer", "terseLabel": "Pre-commencement Issuer Tender Offer" } } }, "localname": "PreCommencementIssuerTenderOffer", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://www.acuitybrands.com/role/CoverPage" ], "xbrltype": "booleanItemType" }, "dei_PreCommencementTenderOffer": { "auth_ref": [ "r4" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.", "label": "Pre-commencement Tender Offer", "terseLabel": "Pre-commencement Tender Offer" } } }, "localname": "PreCommencementTenderOffer", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://www.acuitybrands.com/role/CoverPage" ], "xbrltype": "booleanItemType" }, "dei_Security12bTitle": { "auth_ref": [ "r0" ], "lang": { "en-us": { "role": { "documentation": "Title of a 12(b) registered security.", "label": "Title of 12(b) Security", "terseLabel": "Title of 12(b) Security" } } }, "localname": "Security12bTitle", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://www.acuitybrands.com/role/CoverPage" ], "xbrltype": "securityTitleItemType" }, "dei_SecurityExchangeName": { "auth_ref": [ "r2" ], "lang": { "en-us": { "role": { "documentation": "Name of the Exchange on which a security is registered.", "label": "Security Exchange Name", "terseLabel": "Security Exchange Name" } } }, "localname": "SecurityExchangeName", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://www.acuitybrands.com/role/CoverPage" ], "xbrltype": "edgarExchangeCodeItemType" }, "dei_SolicitingMaterial": { "auth_ref": [ "r5" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.", "label": "Soliciting Material", "terseLabel": "Soliciting Material" } } }, "localname": "SolicitingMaterial", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://www.acuitybrands.com/role/CoverPage" ], "xbrltype": "booleanItemType" }, "dei_TradingSymbol": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Trading symbol of an instrument as listed on an exchange.", "label": "Trading Symbol", "terseLabel": "Trading Symbol" } } }, "localname": "TradingSymbol", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://www.acuitybrands.com/role/CoverPage" ], "xbrltype": "tradingSymbolItemType" }, "dei_WrittenCommunications": { "auth_ref": [ "r6" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.", "label": "Written Communications", "terseLabel": "Written Communications" } } }, "localname": "WrittenCommunications", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://www.acuitybrands.com/role/CoverPage" ], "xbrltype": "booleanItemType" } }, "unitCount": 0 } }, "std_ref": { "r0": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "b", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r1": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "b-2", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r2": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "d1-1", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r3": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "13e", "Subsection": "4c", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r4": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "14d", "Subsection": "2b", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r5": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "14a", "Subsection": "12", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r6": { "Name": "Securities Act", "Number": "230", "Publisher": "SEC", "Section": "425", "role": "http://www.xbrl.org/2003/role/presentationRef" } }, "version": "2.2" } ZIP 14 0001144215-23-000071-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001144215-23-000071-xbrl.zip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end