Notes Payable, net (Tables)

12 Months Ended

Aug. 31, 2022

Debt Disclosure [Abstract]

Notes Payable, Net

	As of August 31,
(In millions)	2022			2021
Term loans	$	867.5		$	492.3
2.875% Convertible senior notes, due 2028		373.8			373.8
2.875% Convertible senior notes, due 2024		47.7			47.7
Other notes payable		1.2			1.7
	$	1,290.2		$	915.5
Debt discount and issuance costs (1)		(21.1	)		(89.0	)
	$	1,269.1		$	826.5

(1)As described in Note 2 – Summary of Significant Accounting Policies, effective September 1, 2021, the debt discount associated with convertible senior notes was derecognized upon adoption of ASU 2020-06 using the modified retrospective approach. Financial results for 2021 were not adjusted. See discussion below for additional information.

Principal Payments on the Notes Payable

As of August 31, 2022, principal payments on the notes payable are expected as follows:

(In millions)
Year ending August 31,
2023	$	35.3
2024 (1)		83.8
2025		36.4
2026		259.1
2027		241.9
Thereafter (1)		633.7
	$	1,290.2

(1)The repayment of the $47.7 million of 2024 Convertible Notes due February 2024 and the $373.8 million of 2028 Convertible Notes due April 2028 is assumed to occur at the scheduled maturity instead of assuming an earlier conversion by the holders.