Share-Based Compensation (Tables)

3 Months Ended

Nov. 30, 2021

Share-based Payment Arrangement [Abstract]

Summary of Type and Fair Value of Share-Based Compensation Awards

The following table illustrates the type and fair value of share-based compensation awards granted during the three months ended November 30, 2021 and 2020, respectively:

	Three months ended
	November 30, 2021				November 30, 2020
	Number of units granted		Weighted average grant-date fair value per award		Number of units granted		Weighted average grant-date fair value per award
Stock options		21,137	$	41.80		35,168	$	30.68
RSUs		20,099	$	141.99		26,314	$	106.72
PSUs		12,122	$	147.74		19,533	$	125.23

Schedule of Assumptions Used

The following table provides the assumptions used in determining the fair value of the stock options awarded during the three months ended November 30, 2021 and 2020, respectively:

	Three months ended November 30,
	2021			2020
Weighted-average dividend yield		0.9	%		1.2	%
Weighted-average volatility		33.8	%		32.8	%
Risk-free interest rate		1.2	%		0.5	%
Weighted-average expected life (years)		5			6

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 during the three months ended November 30, 2021 and 2020 was estimated at the grant date using a Monte Carlo simulation model which included the following assumptions:

	Three months ended November 30,
	2021			2020
Expected term (years)		3			3
Risk-free interest rate		0.7	%		0.2	%
Volatility		39.1	%		38.6	%
Dividend yield		0.9	%		1.2	%