Share-Based Compensation (Tables)

3 Months Ended

Nov. 30, 2022

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, 2022 and 2021:

	Three months ended
	November 30, 2022				November 30, 2021
	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		21,743	$	55.53		21,137	$	41.80
RSUs		18,502	$	152.36		20,099	$	141.99
PSUs		14,496	$	173.17		12,122	$	147.74

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, 2022 and 2021, respectively:

	Three months ended November 30,
	2022			2021
Weighted-average dividend yield		0.9	%		0.9	%
Weighted-average volatility		35.7	%		33.8	%
Risk-free interest rate		4.4	%		1.2	%
Weighted-average expected life (years)		5			5

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, 2022 and 2021 was estimated at the grant date using a Monte Carlo simulation model which included the following assumptions:

	Three months ended November 30,
	2022			2021
Expected term (years)		3			3
Risk-free interest rate		4.5	%		0.7	%
Volatility		38.6	%		39.1	%
Dividend yield		0.9	%		0.9	%