Debt

12 Months Ended

Aug. 31, 2026

Debt Disclosure [Abstract]

Debt Disclosure

Note 8.    Debt

The following is a summary of the Company’s indebtedness:

	August 31,
(in millions)	2026		2025
Senior Credit Facility
Revolver	—		—
Term Loan	182.5		190.0
Total Senior Indebtedness	182.5		190.0
Less: Current maturities of long-term debt	(10.0)		(7.5)
Debt issuance costs	(0.2)		(0.3)
Total long-term debt, less current maturities	$	172.3	$	182.2

Senior Credit Facility

On September 9, 2022, the Company refinanced its previous senior credit facility with a $600 million senior credit facility, comprised of a $400 million revolving line of credit and a $200 million term loan, which was scheduled to mature in September 2027. The Company had the option to request up to $300 million of additional revolving commitments and/or term loans under this facility, subject to customary conditions, including the commitment of the participating lenders. This facility uses adjusted term SOFR as the interest rate benchmark and provides for interest rate margins above adjusted term SOFR ranging from 1.125% to 1.875% per annum depending on the Company’s net leverage ratio. In addition, a non-use fee is payable quarterly on the average unused amount of the revolving line of credit ranging from 0.15% to 0.3% per annum, based on the Company's net leverage. At August 31, 2026, the interest rate on the borrowings under the senior credit facility was adjusted term SOFR plus 1.125% per annum.

On July 7, 2026, pursuant to the provision of the senior credit facility permitting additional revolving commitments and/or term loans, the Company entered into an amendment to the agreement governing the senior credit facility to increase the revolving credit facility thereunder from $400 million to $625 million.

The facility contains financial covenants requiring the Company to not permit (i) the net leverage ratio, determined as of the end of each of its fiscal quarters, to exceed 3.75 to 1.00 (or, at the Company’s election and subject to certain conditions, 4.25 to 1.00 for the covenants period during which certain material acquisitions occur and the next succeeding four testing periods) or (ii) the interest coverage ratio, determined as of the end of each of its fiscal quarters, to be less than 3.00 to 1.00. Borrowings under the facility are secured by substantially all personal property assets of the Company and its domestic subsidiary guarantors (other than certain specified excluded assets) and equity interests of certain subsidiaries of the Company. The Company was in compliance with all covenants under the credit facility at August 31, 2026.

At August 31, 2026, there were $182.5 million in borrowings outstanding under the term loans, no borrowings outstanding under the revolving line of credit and $625.0 million available for borrowing under the revolving line of credit facility.

On October 16, 2026, the Company refinanced its senior credit facility resulting in a new $850 million senior credit facility, comprised of a $550 million revolving line of credit and a $300 million term loan, which will mature in October 2031. See Note 18, “Subsequent Events” in the notes to the consolidated financial statements for further details.

Cash Paid for Interest

The Company made cash net interest payments of $7.9 million, $8.8 million and $12.4 million in fiscal 2026, 2025 and 2024, respectively.