Share-Based Compensation (Tables)

3 Months Ended

Nov. 30, 2023

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, 2023 and 2022:

	Three months ended
	November 30, 2023				November 30, 2022
	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		31,199	$	44.22		21,743	$	55.53
RSUs		26,685	$	116.71		18,502	$	152.36
PSUs		21,248	$	141.61		14,496	$	173.17

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, 2023 and 2022:

	Three months ended November 30,
	2023			2022
Dividend yield		1.2	%		0.9	%
Volatility		37.8	%		35.7	%
Risk-free interest rate		4.8	%		4.4	%
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, 2023 and 2022 was estimated at the grant date using a Monte Carlo simulation model which included the following assumptions:

	Three months ended November 30,
	2023			2022
Expected term (years)		3			3
Risk-free interest rate		4.9	%		4.5	%
Volatility		34.6	%		38.6	%
Dividend yield		1.2	%		0.9	%