Stockholders' Equity (Tables)

9 Months Ended

May 31, 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				Nine months ended
	May 31, 2024		May 31, 2023		May 31, 2024		May 31, 2023
Restricted stock units(1)	$	(2)	$	14	$	58	$	68
Employee stock purchase plan	5		4		14		12
Total	$	3	$	18	$	72	$	80

(1)During the three months ended May 31, 2024, the Company recorded a $13 million reversal to stock-based compensation expense primarily due to forfeitures of time-based, performance-based and market-based restricted stock awards.

Schedule of Share-based Compensation Information

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

	May 31, 2024
Unrecognized stock-based compensation expense – restricted stock units	$	55
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		Nine months ended
	May 31, 2024	May 31, 2023	May 31, 2024	May 31, 2023
Common stock outstanding:
Beginning balances	122,440,607	133,238,368	131,294,422	135,493,980
Shares issued under employee stock purchase plan	—	1,730	338,316	631,066
Vesting of restricted stock	21,550	3,372	1,791,066	2,013,768
Purchases of treasury stock under employee stock plans	(7,512)	(700)	(534,335)	(571,349)
Treasury shares purchased(1)(2)	(3,733,966)	(1,890,906)	(14,168,790)	(6,215,601)
Ending balances	118,720,679	131,351,864	118,720,679	131,351,864

(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 May 31, 2024, 14.2 million shares had been repurchased for $1.8 billion, excluding excise tax, and $676 million remains available under the amended 2023 Share Repurchase Program.