Stockholders' Equity (Tables)

6 Months Ended

Feb. 29, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Recognized Stock-based Compensation Expense

The Company recognized stock-based compensation expense within selling, general and administrative expense as follows (in millions):

	Three months ended				Six months ended
	February 29, 2024		February 28, 2023		February 29, 2024		February 28, 2023
Restricted stock units	$	18	$	16	$	60	$	54
Employee stock purchase plan	5		4		9		8
Total	$	23	$	20	$	69	$	62

Schedule of Share-based Compensation Information

The following represents the stock-based compensation information as of the period indicated (in millions):

	February 29, 2024
Unrecognized stock-based compensation expense – restricted stock units	$	67
Remaining weighted-average period for restricted stock units expense	1.5 years

Schedule of Common Stock Outstanding

The following represents the common stock outstanding for the periods indicated:

	Three months ended		Six months ended
	February 29, 2024	February 28, 2023	February 29, 2024	February 28, 2023
Common stock outstanding:
Beginning balances	128,647,431	134,231,300	131,294,422	135,493,980
Shares issued under employee stock purchase plan	338,316	629,336	338,316	629,336
Vesting of restricted stock	2,741	148,718	1,769,516	2,010,396
Purchases of treasury stock under employee stock plans	(795)	(47,242)	(526,823)	(570,649)
Treasury shares purchased(1)(2)	(6,547,086)	(1,723,744)	(10,434,824)	(4,324,695)
Ending balances	122,440,607	133,238,368	122,440,607	133,238,368

(1)In July 2021, the Board of Directors approved an authorization for the repurchase of up to $1.0 billion of the Company’s common stock (the “2022 Share Repurchase Program”). As of February 28, 2023, 16.5 million shares had been repurchased for $1.0 billion and no authorization remained under the 2022 Share Repurchase Program.

(2)In September 2022, the Board of Directors approved an authorization for the repurchase of up to $1.0 billion of the Company’s common stock (the “2023 Share Repurchase Program”). As of August 31, 2023, 2.7 million shares had been repurchased for $224 million, excluding excise tax. In September 2023, the Board of Directors amended and increased the 2023 Share Repurchase Program to allow for the repurchase of up to $2.5 billion of the Company’s common stock. As part of the amended 2023 Share Repurchase Program, the Company entered into an accelerated share repurchase (“ASR”) agreement with a bank in September 2023 to repurchase $500 million of the Company’s common stock. During the first quarter of 2024, the ASR transaction was completed, and 3.9 million shares were delivered under the ASR agreement at an average price of $128.61. The final number of shares delivered upon settlement of the ASR agreement was determined based on a discount to the volume weighted average price of the Company’s common stock during the term of the agreement. As of February 29, 2024, 10.4 million shares had been repurchased for $1.3 billion, excluding excise tax, and $1.2 billion remains available under the amended 2023 Share Repurchase Program.