Shared-Based Compensation (Tables)

12 Months Ended

Aug. 31, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Schedule of Share-Based Compensation Expense

The following table summarizes share-based compensation expense for fiscal 2019, 2018, and 2017:

	For the years ended August 31,
($ in thousands)	2019			2018			2017
Share-based compensation expense included in cost of    operating revenues	$	105		$	113		$	231
Research and development		221			150			162
Sales and marketing		250			461			397
General and administrative		3,819			3,169			2,807
Share-based compensation expense included in    operating expenses		4,290			3,780			3,366
Total share-based compensation expense		4,395			3,893			3,597
Tax benefit		(1,033	)		(1,090	)		(1,338	)
Share-based compensation expense, net of tax	$	3,362		$	2,803		$	2,259

Schedule of Assumptions Used

The fair value of stock option awards is estimated using the Black-Scholes option pricing model.  The table below shows the annual weighted average assumptions used for valuation purposes. 

	Grant year
	Fiscal 2019			Fiscal 2018
Risk-free interest rate		3.1	%		2.2	%
Dividend yield		1.4	%		1.3	%
Expected life (years)		6			7
Volatility		26.3	%		33.9	%
Weighted average grant-date fair value of options granted	$	24.71		$	30.72

Summary of Stock Option Activity

The following table summarizes stock option activity for fiscal 2019:

	Number of stock options			Average exercise price		Average remaining contractual term (years)		Aggregate intrinsic value (thousands)
Stock options outstanding at August 31, 2018		76,803		$	82.06		7.7	$	1,053
Granted		38,337			91.82
Exercised		(2,579	)		68.48				93
Stock options outstanding at August 31, 2019		112,561		$	85.70		7.6	$	540
Stock options exercisable at August 31, 2019		38,386		$	77.90		5.8	$	427

Summary of Share Based Compensation Additional Information

Additional information regarding stock option exercises is summarized in the table below.

	For the years ended August 31,
($ in thousands)	2019		2018		2017
Intrinsic value of stock options exercised	$	93	$	538	$	681
Cash received from stock option exercises	$	177	$	2,788	$	3,020
Tax benefit realized from stock option exercises	$	26	$	151	$	254
Weighted average grant-date fair value of stock options vested	$	32.66	$	31.37	$	35.79

Summary of Restricted Stock Unit Activity

The following table summarizes restricted stock unit activity for fiscal 2019:

	Number of restricted stock units			Weighted average grant- date fair value
Restricted stock units outstanding at August 31, 2018		90,609		$	84.38
Granted		36,693			89.76
Vested		(40,655	)		83.68
Forfeited / Cancelled		(7,305	)		89.54
Restricted stock units outstanding at August 31, 2019		79,342		$	87.49

Schedule of Performance Stock Unit Activity

The table below summarizes performance stock unit activity for fiscal 2019:

	Number of performance stock units			Weighted average grant- date fair value
Performance stock units outstanding at August 31, 2018		19,952		$	80.99
Granted		20,631			98.03
Forfeited / cancelled		(3,154	)		64.37
Performance stock units outstanding at August 31, 2019		37,429		$	85.10

Schedule of Assumptions Used to Estimate Fair Value of TSR Portion of Awards Granted

The fair value of the TSR portion of the awards granted in fiscal 2019 was estimated at the grant date using a Monte Carlo simulation model which included the following assumptions:

Expected term (years)	3
Risk-free interest rate	2.9	%
Volatility	27.3	%
Dividend yield	1.4	%