Shared-Based Compensation (Tables)

12 Months Ended

Aug. 31, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Schedule of Share-Based Compensation Expense

The following table summarizes share-based compensation expense for fiscal 2020, 2019, and 2018:

	For the years ended August 31,
($ in thousands)	2020			2019			2018
Share-based compensation expense included in cost of    operating revenues	$	142		$	105		$	113
Research and development		207			221			150
Sales and marketing		419			250			461
General and administrative		5,079			3,819			3,169
Share-based compensation expense included in    operating expenses		5,705			4,290			3,780
Total share-based compensation expense		5,847			4,395			3,893
Tax benefit		(1,374	)		(1,033	)		(1,090	)
Share-based compensation expense, net of tax	$	4,473		$	3,362		$	2,803

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 2020			Fiscal 2019
Risk-free interest rate		1.6	%		3.1	%
Dividend yield		1.3	%		1.4	%
Expected life (years)		6			6
Volatility		28.4	%		26.3	%
Weighted average grant-date fair value of options granted	$	24.18		$	24.71

Summary of Stock Option Activity

The following table summarizes stock option activity for fiscal 2020:

	Number of stock options			Average exercise price		Average remaining contractual term (years)		Aggregate intrinsic value (thousands)
Stock options outstanding at August 31, 2019		112,561		$	85.70		7.6	$	540
Granted		44,347			94.41
Exercised		(21,400	)		87.47				721
Forfeited/cancelled		(3,364	)		72.20				12
Stock options outstanding at August 31, 2020		132,144		$	90.56		7.9	$	1,242
Stock options exercisable at August 31, 2020		43,229		$	86.49		6.9	$	581

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)	2020		2019		2018
Intrinsic value of stock options exercised	$	721	$	93	$	538
Cash received from stock option exercises	$	1,545	$	177	$	2,788
Tax benefit realized from stock option exercises	$	169	$	26	$	151
Weighted average grant-date fair value of stock options vested	$	27.08	$	32.66	$	31.37

Summary of Restricted Stock Unit Activity

The following table summarizes restricted stock unit activity for fiscal 2020:

	Number of restricted stock units			Weighted average grant- date fair value
Restricted stock units outstanding at August 31, 2019		79,342		$	87.49
Granted		39,716			91.83
Vested		(40,792	)		88.85
Forfeited / Cancelled		(5,543	)		87.47
Restricted stock units outstanding at August 31, 2020		72,723		$	89.92

Schedule of Performance Stock Unit Activity

The table below summarizes performance stock unit activity for fiscal 2020:

	Number of performance stock units			Weighted average grant- date fair value
Performance stock units outstanding at August 31, 2019		37,429		$	85.10
Granted		22,715			102.28
Forfeited / cancelled		(6,216	)		80.06
Performance stock units outstanding at August 31, 2020		53,928		$	101.29

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 2020 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	1.5	%
Volatility	29.5	%
Dividend yield	1.3	%