Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Aug. 31, 2013 | Oct. 21, 2013 | Feb. 28, 2013 | |
Document and Entity Information [Abstract] | |||
Entity Registrant Name | FACTSET RESEARCH SYSTEMS INC | ||
Document Type | 10-K | ||
Current Fiscal Year End Date | -23 | ||
Entity Common Stock, Shares Outstanding | 43,105,237 | ||
Entity Public Float | $3,932,642,411 | ||
Amendment Flag | FALSE | ||
Entity Central Index Key | 1013237 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Well-known Seasoned Issuer | Yes | ||
Document Period End Date | 31-Aug-13 | ||
Document Fiscal Year Focus | 2013 | ||
Document Fiscal Period Focus | FY |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 12 Months Ended | |||||
In Thousands, except Per Share data, unless otherwise specified | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | |||
Revenues | $858,112 | [1] | $805,793 | [1] | $726,510 | [1] |
Operating expenses | ||||||
Cost of services | 306,379 | 275,537 | 244,623 | |||
Selling, general and administrative | 282,314 | 257,266 | 243,552 | |||
Total operating expenses | 588,693 | 532,803 | 488,175 | |||
Operating income | 269,419 | 272,990 | 238,335 | |||
Other income | 1,491 | 1,715 | 623 | |||
Income before income taxes | 270,910 | 274,705 | 238,958 | |||
Provision for income taxes | 72,273 | [2] | 85,896 | 67,912 | [3] | |
Net income | $198,637 | $188,809 | $171,046 | |||
Basic earnings per common share (in Dollars per share) | $4.53 | $4.22 | $3.72 | |||
Diluted earnings per common share (in Dollars per share) | $4.45 | $4.12 | $3.61 | |||
Weighted average common shares (Basic) (in Shares) | 43,890 | 44,784 | 45,953 | |||
Weighted average common shares (Diluted) (in Shares) | 44,624 | 45,810 | 47,355 | |||
[1] | Revenues are attributed to countries based on the location of the client. | |||||
[2] | Includes income tax benefits of $7.2 million primarily from the reenactment of the U.S. Federal R&D tax credit in January 2013 and the finalization of the fiscal 2012 tax return. The reenactment of the credit was retroactive to January 1, 2012 and extends through the end of the 2013 calendar year. The fiscal 2013 annual effective tax rate before discrete items of $7.2 million was 28.9%. | |||||
[3] | Includes income tax benefits of $6.3 million from the finalization of the fiscal 2010 tax return and the reenactment of the U.S. Federal R&D tax credit in December 2010. The fiscal 2011 annual effective tax rate before discrete items of $6.3 million was 30.9%. |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | |||
Net income | $198,637 | $188,809 | $171,046 | |||
Other comprehensive income (loss), net of tax | ||||||
Net unrealized (loss) gain on cash flow hedges* | -3,296 | [1] | -2,141 | [1] | 828 | [1] |
Foreign currency translation adjustments | -5,151 | -14,925 | 14,897 | |||
Other comprehensive (loss) income | -8,447 | -17,066 | 15,725 | |||
Comprehensive Income | $190,190 | $171,743 | $186,771 | |||
[1] | The unrealized (loss) gain on cash flow hedges disclosed above was net of tax benefit (expense) of $1,965, $1,283 and ($500) for the fiscal years ended August 31, 2013, 2012 and 2011, respectively. |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income (Parentheticals) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 |
Net Unrealized Gain (Loss), Tax (Expense) Benefit | $1,965 | $1,283 | ($500) |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Aug. 31, 2013 | Aug. 31, 2012 |
In Thousands, unless otherwise specified | ||
CURRENT ASSETS | ||
Cash and cash equivalents | $196,627 | $189,044 |
Investments | 12,725 | 13,919 |
Accounts receivable, net of reserves of $1,644 and $1,830 at August 31, 2013 and 2012, respectively | 73,290 | 74,251 |
Prepaid taxes | 16,937 | 2,485 |
Deferred taxes | 2,803 | 5,085 |
Prepaid expenses and other current assets | 15,652 | 14,341 |
Total current assets | 318,034 | 299,125 |
LONG-TERM ASSETS | ||
Property, equipment and leasehold improvements, at cost | 192,338 | 189,546 |
Less accumulated depreciation and amortization | -126,967 | -113,016 |
Property, equipment and leasehold improvements, net | 65,371 | 76,530 |
Goodwill (in Dollars) | 244,573 | 245,791 |
Intangible assets, net | 36,223 | 43,371 |
Deferred taxes | 22,023 | 23,113 |
Other assets | 3,973 | 6,213 |
TOTAL ASSETS | 690,197 | 694,143 |
CURRENT LIABILITIES | ||
Accounts payable and accrued expenses | 29,864 | 27,680 |
Accrued compensation | 40,137 | 41,274 |
Deferred fees | 29,319 | 30,495 |
Taxes payable | 3,769 | |
Dividends payable | 15,164 | 13,727 |
Total current liabilities | 118,253 | 113,176 |
NON-CURRENT LIABILITIES | ||
Deferred taxes | 2,396 | 2,593 |
Taxes payable | 5,435 | 5,464 |
Deferred rent and other non-current liabilities | 22,334 | 20,646 |
TOTAL LIABILITIES | 148,418 | 141,879 |
Commitments and contingencies (See Note 16) | ||
STOCKHOLDERS’ EQUITY | ||
Preferred stock, $.01 par value, 10,000,000 shares authorized, none issued | 0 | 0 |
Common stock, $.01 par value, 150,000,000 shares authorized, 48,110,740 and 45,599,754 shares issued; 43,324,410 and 44,279,214 shares outstanding at August 31, 2013 and 2012, respectively | 481 | 456 |
Additional paid-in capital | 326,869 | 137,569 |
Treasury stock, at cost: 4,786,330 and 1,320,540 shares at August 31, 2013 and 2012, respectively | -454,917 | -122,749 |
Retained earnings | 700,519 | 559,714 |
Accumulated other comprehensive loss | -31,173 | -22,726 |
TOTAL STOCKHOLDERS’ EQUITY | 541,779 | 552,264 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $690,197 | $694,143 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parentheticals) (USD $) | Aug. 31, 2013 | Aug. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Accounts receivable, reserves (in Dollars) | $1,644 | $1,830 |
Preferred stock par value (in Dollars per share) | $0.01 | $0.01 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock, par value (in Dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized | 150,000,000 | 150,000,000 |
Common stock, shares issued | 48,110,740 | 45,599,754 |
Common stock, shares outstanding | 43,324,410 | 44,279,214 |
Treasury stock shares | 4,786,330 | 1,320,540 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 |
CASH FLOWS FROM OPERATING ACTIVITIES | |||
Net income | $198,637 | $188,809 | $171,046 |
Adjustments to reconcile net income to net cash provided by operating activities | |||
Depreciation and amortization | 35,779 | 33,779 | 36,847 |
Stock-based compensation expense | 39,951 | 21,982 | 25,773 |
Deferred income taxes | 3,175 | -3,760 | -1,806 |
Gain on sale of assets | -26 | -22 | |
Tax benefits from share-based payment arrangements | -25,225 | -11,159 | -18,331 |
Changes in assets and liabilities, net of effects of acquisition | |||
Accounts receivable, net of reserves | 859 | 2,083 | -15,311 |
Accounts payable and accrued expenses | 3,355 | 9 | 715 |
Accrued compensation | -776 | 519 | -7,882 |
Deferred fees | -1,107 | -2,573 | 3,219 |
Taxes payable, net of prepaid taxes | 13,498 | 4,209 | 20,387 |
Prepaid expenses and other assets | 2,105 | -445 | -6,579 |
Deferred rent and other non-current liabilities | -2,846 | -905 | -483 |
Other working capital accounts, net | 2,430 | -583 | -437 |
Net cash provided by operating activities | 269,809 | 231,965 | 207,136 |
CASH FLOWS FROM INVESTING ACTIVITIES | |||
Acquisition of business, net of cash acquired | -705 | -21,329 | |
Purchases of investments | -15,613 | -15,000 | |
Proceeds from sales of investments | 14,423 | ||
Purchases of property, equipment and leasehold improvements, net of proceeds from dispositions | -18,517 | -22,520 | -29,343 |
Net cash used in investing activities | -20,412 | -58,849 | -29,343 |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Dividend payments | -56,002 | -49,983 | -43,949 |
Repurchase of common stock | -332,168 | -153,641 | -216,584 |
Proceeds from employee stock plans | 124,537 | 33,747 | 43,079 |
Tax benefits from share-based payment arrangements | 25,225 | 11,159 | 18,331 |
Net cash used in financing activities | -238,408 | -158,718 | -199,123 |
Effect of exchange rate changes on cash and cash equivalents | -3,406 | -7,039 | 7,274 |
Net increase (decrease) in cash and cash equivalents | 7,583 | 7,359 | -14,056 |
Cash and cash equivalents at beginning of year | 189,044 | 181,685 | 195,741 |
Cash and cash equivalents at end of year | 196,627 | 189,044 | 181,685 |
Cash paid during the year for income taxes, net of refunds | 45,732 | 73,219 | 36,869 |
Dividends declared, not paid | 15,164 | 13,727 | 12,165 |
Stock issued for acquisition of business | $3,974 |
Consolidated_Statements_Of_Cha
Consolidated Statements Of Changes In Stockholders' Equity (USD $) | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Total |
In Thousands | ||||||
Beginning Balance at Aug. 31, 2010 | $601 | $344,144 | ($607,798) | $786,844 | ($21,385) | $502,406 |
Foreign currency translation adjustments | 14,897 | 14,897 | ||||
Net unrealized (loss) gain on cash flow hedges, net of tax | 828 | 828 | ||||
Net income | 171,046 | 171,046 | ||||
Dividends | -45,812 | -45,812 | ||||
Repurchase of common stock, including stock swaps | -216,584 | -216,584 | ||||
Common stock issued for employee stock plans | 13 | 44,290 | 44,303 | |||
Stock-based compensation expense | 25,773 | 25,773 | ||||
Tax benefits from share-based payment arrangements | 18,331 | 18,331 | ||||
Ending Balance at Aug. 31, 2011 | 614 | 432,538 | -824,382 | 912,078 | -5,660 | 515,188 |
Foreign currency translation adjustments | -14,925 | -14,925 | ||||
Net unrealized (loss) gain on cash flow hedges, net of tax | -2,141 | -2,141 | ||||
Net income | 188,809 | 188,809 | ||||
Dividends | -51,887 | -51,887 | ||||
Repurchase of common stock, including stock swaps | -152,933 | -152,933 | ||||
Common stock issued for employee stock plans | 9 | 33,383 | 33,392 | |||
Stock-based compensation expense | 21,982 | 21,982 | ||||
Tax benefits from share-based payment arrangements | 11,159 | 11,159 | ||||
Stock issued for acquisition of business | -11 | 3,985 | 3,974 | |||
Purchase of common stock upon restricted stock vesting | -354 | -354 | ||||
Retirement of treasury stock | -167 | -361,482 | 850,935 | -489,286 | ||
Ending Balance at Aug. 31, 2012 | 456 | 137,569 | -122,749 | 559,714 | -22,726 | 552,264 |
Foreign currency translation adjustments | -5,151 | -5,151 | ||||
Net unrealized (loss) gain on cash flow hedges, net of tax | -3,296 | -3,296 | ||||
Net income | 198,637 | 198,637 | ||||
Dividends | -57,832 | -57,832 | ||||
Repurchase of common stock, including stock swaps | -327,454 | -327,454 | ||||
Common stock issued for employee stock plans | 25 | 124,124 | 124,149 | |||
Stock-based compensation expense | 39,951 | 39,951 | ||||
Tax benefits from share-based payment arrangements | 25,225 | 25,225 | ||||
Purchase of common stock upon restricted stock vesting | -4,714 | -4,714 | ||||
Ending Balance at Aug. 31, 2013 | $481 | $326,869 | ($454,917) | $700,519 | ($31,173) | $541,779 |
Note_1_Organization_and_Nature
Note 1 - Organization and Nature of Business | 12 Months Ended |
Aug. 31, 2013 | |
Disclosure Text Block [Abstract] | |
Nature of Operations [Text Block] | 1. ORGANIZATION AND NATURE OF BUSINESS |
FactSet Research Systems Inc. (the “Company” or “FactSet”) is a provider of integrated financial information and analytical applications to the global investment community. FactSet combines content regarding companies and securities from major markets all over the globe into a single online platform of information and analytics. By consolidating content from hundreds of databases with powerful analytics, FactSet supports the investment process from initial research to published results for buy and sell-side professionals. These professionals include portfolio managers, research and performance analysts, risk managers, marketing professionals, sell-side equity research professionals, investment bankers and fixed income professionals. The Company’s applications provide users access to company analysis, multicompany comparisons, industry analysis, company screening, portfolio analysis, predictive risk measurements, alphatesting, portfolio optimization and simulation, real-time news and quotes and tools to value and analyze fixed income securities and portfolios. With Microsoft Office integration, wireless access and customizable options, FactSet offers a complete financial workflow solution. The Company’s revenues are derived from subscriptions to services such as workstations, content and applications. | |
As of August 31, 2013, the Company employed 6,258 employees, an increase of 358 over the past three months and up 9.1% or 523 employees from a year ago. Of these employees, 1,888 were located in the U.S., 663 in Europe and 3,707 in Asia Pacific. Approximately 55% of FactSet employees are involved with content collection, 24% work in product development, software and systems engineering, another 18% conduct sales and consulting services and the remaining 3% provide administrative support. |
Note_2_Basis_of_Presentation
Note 2 - Basis of Presentation | 12 Months Ended |
Aug. 31, 2013 | |
Disclosure Text Block [Abstract] | |
Basis of Presentation and Significant Accounting Policies [Text Block] | 2. BASIS OF PRESENTATION |
FactSet conducts business globally and is managed on a geographic basis. The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany activity and balances have been eliminated from the consolidated financial statements. Certain reclassification have been made to amounts for prior years in order to conform to the current year’s presentation. | |
The Company’s consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles. The preparation of consolidated financial statements and related disclosures in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates have been made in areas that include receivable reserves, accrued compensation, allocation of purchase price to assets and liabilities acquired, income taxes, stock-based compensation, valuation of goodwill, and useful lives and valuation of fixed and intangible assets. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from those estimates. |
Note_3_Summary_of_Significant_
Note 3 - Summary of Significant Accounting Policies | 12 Months Ended |
Aug. 31, 2013 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
The significant accounting policies of the Company and its subsidiaries are summarized below. | |
Revenue Recognition | |
The Company’s revenues are derived from month-to-month subscriptions to services such as workstations (also referred to as users), content and applications. The majority of clients are invoiced monthly to reflect the actual services provided. The remaining clients are invoiced quarterly, annually or biannually in advance. Subscription revenue is earned each month as the service is rendered to clients on a monthly basis. FactSet recognizes revenue when the client subscribes to FactSet services, the service has been rendered and earned during the month, the amount of the subscription is fixed or determinable based on established rates quoted on an annualized basis and collectability is reasonably assured. A provision for billing adjustments and cancellation of services is estimated and accounted for as a reduction of revenue, with a corresponding reduction to accounts receivable. | |
Accounts Receivable and Deferred Fees | |
Amounts that have been earned but not yet paid are reflected on the Consolidated Balance Sheets as accounts receivable, net of reserves. Amounts invoiced in advance or client payments that are in excess of earned subscription revenues are reflected on the Consolidated Balance Sheets as deferred fees. As of August 31, 2013, the amount of accounts receivable that was unbilled totaled $3.3 million, which was billed in fiscal 2014. | |
The Company calculates its receivable reserve through analyzing aged client receivables, reviewing the recent history of client receivable write-offs and understanding general market and economic conditions. In accordance with this policy, a receivable reserve of $1.6 million and $1.8 million was recorded as of August 31, 2013 and 2012, respectively, in the Consolidated Balance Sheets as a reduction of accounts receivable. | |
Cost of Services | |
Cost of services is comprised of compensation for Company employees within the content collection, consulting, product development, software and systems engineering groups in addition to data costs, amortization of identifiable intangible assets, computer maintenance and depreciation expenses and client-related communication costs. | |
Selling, General and Administrative | |
Selling, general and administrative expenses include compensation for the sales and various other support and administrative departments, travel and entertainment expenses, marketing costs, rent, amortization of leasehold improvements, depreciation of furniture and fixtures, office expenses, professional fees and other miscellaneous expenses. | |
Earnings per Share | |
Basic earnings per share (“EPS”) is computed by dividing net income by the number of weighted average common shares outstanding during the period. Diluted earnings per share is computed by dividing net income by the number of weighted average common shares outstanding during the period increased by the dilutive effect of potential common shares outstanding during the period. The number of potential common shares outstanding has been determined in accordance with the treasury stock method to the extent they are dilutive. Common share equivalents consist of common shares issuable upon the exercise of outstanding share-based compensation awards, including employee stock options and restricted stock. Under the treasury stock method, the exercise price paid by the optionee, future stock-based compensation expense that the Company has not yet recognized and the amount of tax benefits that would be recorded in additional paid-in capital when the award becomes deductible are assumed to be used to repurchase shares. | |
Fair Value Measures | |
Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, the use of various valuation methodologies, including market, income and cost approaches is permissible. The Company considers the principal or most advantageous market in which it would transact and considers assumptions that market participants would use when pricing the asset or liability. The accounting guidance for fair value measurements establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. There are three levels of inputs that may be used to measure fair value based on the reliability of inputs. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The Company’s cash equivalents are classified as Level 1 while the Company’s derivative instruments (foreign exchange forward contracts) and certificates of deposit are classified as Level 2. There were no Level 3 assets or liabilities held by FactSet as of August 31, 2013 or 2012. | |
Cash and Cash Equivalents | |
Cash and cash equivalents consist of demand deposits and corporate money market funds with original maturities of three months or less and are reported at fair value. The Company’s corporate money market funds are traded in an active market and the net asset value of each fund on the last day of the quarter is used to determine its fair value. | |
Investments | |
Investments consist of certificates of deposits with original maturities greater than three months, but less than one year and, as such, are classified as investments (short-term) on the Consolidated Balance Sheets. These certificates of deposit are held for investment and are not debt securities. The Company’s investments are associated with its purchase of certificates of deposits in India with maturities ranging from nine months to twelve months from the date of purchase. Interest income earned from the certificates of deposit during fiscal 2013 and 2012 were $1.3 million and $1.1 million, respectively. The Company’s cash, cash equivalents and investments portfolio did not experience any realized or unrealized losses as a result of counterparty credit risk or ratings change during fiscal 2013 and 2012. | |
Property, Equipment and Leasehold Improvements | |
Property, equipment and leasehold improvements are stated at cost, less accumulated depreciation and amortization. Computers and related equipment are depreciated on a straight-line basis over estimated useful lives of three years. Furniture and fixtures are depreciated on a straight-line basis over their estimated useful lives of seven years. Leasehold improvements are amortized on a straight-line basis over the terms of the related leases or estimated useful lives of the improvements, whichever period is shorter. Repairs and maintenance expenditures, which are not considered leasehold improvements and do not extend the useful life of the property and equipment, are expensed as incurred. | |
The Company performs a test for impairment whenever events or changes in circumstances indicate that the carrying amount of an individual asset or asset group may not be recoverable. Should projected undiscounted future cash flows be less than the carrying amount of the asset or asset group, an impairment charge reducing the carrying amount to fair value is required. Fair value is determined based on the most appropriate valuation technique, including discounted cash flows. | |
Asset Retirement Obligations | |
An asset retirement obligation is recognized in the period in which sufficient information exists to determine the fair value of the liability with a corresponding increase to the carrying amount of the related property, plant and equipment which is then depreciated over its useful life. The liability is initially measured at discounted fair value and then accretion expense is recorded in each subsequent period. The Company’s asset retirement obligations are primarily associated with its build out of office space in London and Hong Kong where FactSet made significant leasehold improvements and is obligated to remove the leasehold improvements at the end of the lease term. The Company’s asset retirement obligations are not material to its consolidated financial statements. | |
Goodwill | |
Goodwill has resulted from the acquisitions of the Insyte, LionShares, Mergerstat, CallStreet, JCF, TrueCourse, Derivative Solutions, AlphaMetrics, Global Filings, DealMaven, Thomson Fundamentals, Market Metrics and StreetAccount businesses. Goodwill resulting from the acquisitions of LionShares, Mergerstat, TrueCourse, Derivative Solutions, Market Metrics, and StreetAccount are income tax-deductible based on the structure of the acquisition. On an ongoing basis, the Company evaluates goodwill at the reporting unit level for indications of potential impairment. Goodwill is tested for impairment based on the present value of discounted cash flows, and, if impaired, written down to fair value. FactSet has determined that there were three reporting units during fiscal years 2013, 2012 and 2011, which are consistent with the operating segments reported because there is no discrete financial information available for the subsidiaries within each operating segment. The Company’s reporting units evaluated for potential impairment were U.S., Europe and Asia Pacific, which reflects the level of internal reporting the Company uses to manage its business and operations. The Company performed an annual goodwill impairment test during the fourth quarter of fiscal years 2013, 2012 and 2011 and determined that there were no reporting units that were deemed at risk and there had been no impairment. | |
Intangible Assets | |
Intangible assets consist of certain acquired content databases, client relationships, software technology, non-compete agreements and trade names resulting from the acquisitions of Mergerstat (M&A data), JCF (earnings and other estimates), TrueCourse (takeover defense intelligence), Derivative Solutions (fixed income), AlphaMetrics (research and performance evaluation networking tool), Global Filings (equity and fixed income prospectuses), DealMaven (investment banking workflow tool), Thomson Fundamentals (financial data), Market Metrics (market research data on advisor-sold investments and insurance products), and StreetAccount (financial news) and depending on the nature of the intangible asset, are amortized on either a straight-line or an accelerated basis using estimated useful lives ranging between two and twenty years. The remaining useful lives of intangible assets subject to amortization are evaluated quarterly to determine whether events and circumstances warrant a revision to the remaining period of amortization. If the estimate of the remaining useful life is changed, the remaining carrying amount of the intangible asset is amortized prospectively over that revised remaining useful life. These intangible assets have no assigned residual values. Intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Determination of recoverability is based on an estimate of undiscounted future cash flows resulting from the use of the asset and its eventual disposition. Measurement of any impairment loss for intangible assets that management expects to hold and use is based on the amount the carrying value exceeds the fair value of the asset. No impairment of intangible assets has been identified during any of the periods presented. | |
Internal Use Software | |
Certain costs related to computer software developed or obtained for internal use are capitalized. FactSet capitalizes only those direct costs incurred during the application development and implementation stages for developing, purchasing or otherwise acquiring software solely to meet the Company’s internal needs. Capitalized costs are amortized on a straight-line basis over the estimated useful lives of the underlying software, three years or less. During fiscal 2013, 2012 and 2011, the Company capitalized $0.7 million, $0.9 million and $0.9 million, respectively of internal employee compensation costs associated with the application development and implementation stages for developing software for internal use only. In fiscal 2013, 2012 and 2011, FactSet recorded amortization expense related to capitalized software of $0.9 million, $0.9 million and $0.7 million, respectively. | |
Product Development | |
The Company capitalizes software development costs related to software to be sold, leased, or otherwise marketed. Software development costs are expensed as incurred until technological feasibility has been established, at which time such costs are capitalized until the product is available for general release to the public. Once the point of technological feasibility is reached, which is the completion of a working prototype that has been certified as having no critical bugs and is a release candidate or has alternative future uses, development costs are capitalized until the product is ready for general release. Research and product development costs not subject to capitalization are expensed as incurred. As of August 31, 2013 and 2012, there were no software development costs capitalized related to software to be sold, leased, or otherwise marketed. | |
Accrued Liabilities | |
Accrued liabilities include estimates relating to employee compensation, operating expenses and tax liabilities. Approximately 15-20% of the Company’s employee incentive compensation programs are discretionary. FactSet conducts a final review of Company and departmental individual performance each fiscal year end to determine the amount of discretionary employee compensation. The Company also reviews compensation throughout the year to determine how overall performance tracks against management’s expectations. Management takes these and other factors, including historical performance, into account in reviewing accrued compensation estimates quarterly and adjusting accrual rates as appropriate. The amount of the variable employee compensation recorded within accrued compensation as of August 31, 2013 and 2012, was $35.2 million and $35.9 million, respectively. | |
Landlord Contributions for Leasehold Improvements | |
In conjunction with entering into leases for office space, the Company receives contributions from landlords toward leasehold improvements which are reported in the Accounts Payable and Accrued Expenses line item (current portion only) and the Deferred Rent and Other Non-Current Liabilities line item (non-current portion) of the Consolidated Balance Sheets. These contributions are amortized as a reduction to rent expense over the non-cancelable lease terms to which they pertain. During fiscal 2013, 2012 and 2011, cash contributions from landlords were $0.5 million, $1.5 million and $1.4 million, respectively. | |
Derivative Instruments | |
FactSet conducts business outside the U.S. in several currencies including the British Pound Sterling, Euro, Japanese Yen, Indian Rupee and Philippine Peso. As such, it is exposed to movements in foreign currency exchange rates compared to the U.S. dollar. To manage the exposures related to the effects of foreign exchange rate fluctuations, the Company utilizes derivative instruments (foreign currency forward contracts). The Company’s primary objective in holding derivatives is to reduce the volatility of earnings and cash flows associated with changes in foreign currency. In designing a specific hedging approach, FactSet considers several factors, including offsetting exposures, significance of exposures, forecasting risk and potential effectiveness of the hedge. These transactions are designated and accounted for as cash flow hedges in accordance with applicable accounting guidance. The changes in fair value for these foreign currency forward contracts are initially reported as a component of accumulated other comprehensive loss and subsequently reclassified into operating expenses when the hedged exposure affects earnings. The gains and losses on foreign currency forward contracts mitigate the variability in operating expenses associated with currency movements. All derivatives are assessed for effectiveness at each reporting period. The Company does not enter into foreign exchange forward contracts for trading or speculative purposes. | |
Foreign Currency Translation | |
Certain wholly owned subsidiaries within the Europe and Asia Pacific segments operate under a functional currency different from the U.S. dollar, such as the British Pound Sterling, Euro, Japanese Yen, Indian Rupee and Philippines Peso. The financial statements of these foreign subsidiaries are translated into U.S. dollars using period-end rates of exchange for assets and liabilities, and average rates for the period for revenues and expenses. Translation gains and losses that arise from translating assets, liabilities, revenues and expenses of foreign operations are recorded in accumulated other comprehensive loss as a component of stockholders’ equity. The accumulated foreign currency translation loss totaled $26.3 million and $21.2 million at August 31, 2013 and 2012, respectively. | |
Comprehensive Income (Loss) | |
The Company discloses comprehensive income (loss) in accordance with applicable standards for the reporting and display of comprehensive income (loss) in a set of financial statements. Comprehensive income (loss) is defined as the change in net assets of a business enterprise during a period from transactions generated from non-owner sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners. | |
Income and Deferred Taxes | |
Income tax expense is based on taxable income determined in accordance with current enacted laws and tax rates. Deferred income taxes are recorded for the temporary differences between the financial statement and tax bases of assets and liabilities using currently enacted tax rates. | |
FactSet recognizes the financial effect of an income tax position only if it is more likely than not (greater than 50%) that the tax position will prevail upon tax examination, based solely on the technical merits of the tax position as of the reporting date. Otherwise, no benefit or expense can be recognized in the consolidated financial statements. The tax benefits recognized are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. Additionally, FactSet accrues interest and related penalties, if applicable, on all tax exposures for which reserves have been established consistent with jurisdictional tax laws. Interest and penalties are classified as income tax expense in the financial statements. As of August 31, 2013, the Company had gross unrecognized tax benefits totaling $5.4 million, including $1.0 million of accrued interest, recorded as non-current taxes payable in the Consolidated Balance Sheet. | |
Stock-Based Compensation | |
Accounting guidance requires the measurement and recognition of compensation expense for all share-based payment awards made to employees and directors including stock options, restricted stock and common shares acquired under employee stock purchases based on estimated fair values of the share awards that are scheduled to vest during the period. FactSet uses the straight-line attribution method for all awards with graded vesting features and service conditions only. Under this method, the amount of compensation expense that is recognized on any date is at least equal to the vested portion of the award on that date. For all stock-based awards with performance conditions, the graded vesting attribution method is used by the Company to determine the monthly stock-based compensation expense over the applicable vesting periods. | |
As stock-based compensation expense recognized is based on awards ultimately expected to vest, it has been reduced for estimated forfeitures. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Forfeitures were estimated based primarily on historical experience. Windfall tax benefits, defined as tax deductions that exceed recorded stock-based compensation, are classified as cash inflows from financing activities. | |
Performance-based stock options require management to make assumptions regarding the likelihood of achieving Company performance targets on a quarterly basis. The number of performance-based options that vest will be predicated on the Company achieving certain performance levels. A change in the financial performance levels the Company achieves could result in changes to FactSet’s current estimate of the vesting percentage and related stock-based compensation. | |
Treasury Stock | |
The Company accounts for repurchased common stock under the cost method and includes such treasury stock as a component of its stockholders’ equity. At the time treasury stock retirement is approved by FactSet’s Board of Directors, the Company’s accounting policy is to deduct its par value from common stock, reduce additional paid-in capital (“APIC”) by the amount recorded in APIC when the stock was originally issued and any remaining excess of cost as a deduction from retained earnings. | |
Operating Leases | |
The Company conducts all of its operations in leased facilities which have minimum lease obligations under non-cancelable operating leases. Certain of these leases contain rent escalations based on specified percentages. Most of the leases contain renewal options and require payments for taxes, insurance and maintenance. Rent expense is charged to operations as incurred except for escalating rents, which are charged to operations on a straight-line basis over the life of the lease. Lease incentives, relating to allowances provided by landlords, are amortized over the term of the lease as a reduction of rent expense. Costs associated with acquiring a subtenant, including broker commissions and tenant allowances, are amortized over the sublease term as a reduction of sublease income. | |
Business Combinations | |
The Company records acquisitions using the purchase method of accounting. All of the assets acquired, liabilities assumed, contractual contingencies and contingent consideration are recognized at their fair value on the acquisition date. The application of the purchase method of accounting for business combinations requires management to make significant estimates and assumptions in the determination of the fair value of assets acquired and liabilities assumed in order to properly allocate purchase price consideration between assets that are depreciated and amortized from goodwill. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. Acquisition-related expenses and restructuring costs are recognized separately from the business combination and are expensed as incurred. | |
Concentrations of Risk | |
Cash and cash equivalents are maintained with several financial institutions. Deposits held with banks may exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and are maintained with financial institutions with reputable credit and therefore bear minimal credit risk. The Company seeks to mitigate its credit risks by spreading such risks across multiple counterparties and monitoring the risk profiles of these counterparties. | |
New Accounting Standards or Updates Recently Adopted | |
Except for the new accounting standard updates disclosed below, the new updates issued by the Financial Accounting Standards Board (“FASB”) during the last two fiscal years did not have an impact on the Company’s consolidated financial statements. | |
Presentation of Comprehensive Income | |
In June 2011, the FASB issued an accounting standard update to provide guidance on increasing the prominence of items reported in other comprehensive income. The guidance eliminated the option to present components of other comprehensive income as part of the statement of stockholders’ equity. Instead, it required that the total of comprehensive income, the components of net income and the components of other comprehensive income be presented either in a single continuous statement of comprehensive income or in two separate but consecutive statements. FactSet adopted this accounting standard in the first quarter of fiscal 2013. Other than the change in presentation, the adoption did not have an impact on the Company’s consolidated financial statements. | |
Goodwill Impairment Testing | |
In September 2011, the FASB issued an accounting standard update intended to simplify how an entity tests goodwill for impairment. The guidance will allow an entity to first assess qualitative factors to determine whether it is necessary to perform the two-step quantitative goodwill impairment test. An entity no longer will be required to calculate the fair value of a reporting unit unless the entity determines, based on a qualitative assessment, that it is more likely than not that its fair value is less than its carrying amount. This accounting standard update became effective for FactSet beginning in the first quarter of fiscal 2013, and its adoption did not have an impact on the Company’s consolidated financial statements. | |
Fair Value Measurement and Disclosure Requirements | |
On September 1, 2011, FactSet adopted guidance issued by the FASB on disclosure requirements related to fair value measurements. The guidance requires the disclosure of roll-forward activities on purchases, sales, issuance, and settlements of the assets and liabilities measured using significant unobservable inputs (Level 3 fair value measurements). Adoption of this new guidance did not have an impact on the Company’s consolidated financial statements. On March 1, 2012, FactSet adopted guidance issued by the FASB on accounting and disclosure requirements related to fair value measurements. The guidance is the result of joint efforts by the FASB and International Accounting Standards Board to develop a single, converged fair value framework on how to measure fair value and what disclosures to provide about fair value measurements. The most significant change in disclosures is an expansion of the information required for Level 3 measurements based on unobservable inputs. The adoption did not have a material impact on the Company’s consolidated financial statements. | |
Recent Accounting Standards or Updates Not Yet Effective | |
Balance Sheet Offsetting | |
In December 2011, the FASB issued an accounting standard update requiring enhanced disclosures about certain financial instruments and derivative instruments that are offset in the balance sheet or that are subject to enforceable master netting arrangements or similar agreements. In January 2013, the FASB issued a clarifying accounting standard update, which limited the scope of the previous guidance to only derivatives, repurchase type agreements and securities borrowing and lending transactions. These accounting standard updates are effective for FactSet beginning in the first quarter of fiscal 2014. Other than requiring additional disclosures, the adoption is not expected to have an impact on the Company’s consolidated financial statements as FactSet currently reports derivative assets and liabilities on a gross basis in the consolidated balance sheets. | |
Indefinite-lived Intangible Assets | |
In July 2012, the FASB issued an accounting standard update intended to simplify how an entity tests indefinite-lived intangible assets other than goodwill for impairment by providing entities with an option to perform a qualitative assessment to determine whether further impairment testing is necessary. This accounting standard update is effective for FactSet beginning in the first quarter of fiscal 2014 and is not expected to have an impact on the Company’s consolidated financial statements. | |
Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income | |
In February 2013, the FASB issued an accounting standard update to require reclassification adjustments from other comprehensive income to be presented either in the financial statements or in the notes to the financial statements. This accounting standard update is effective for FactSet beginning in the first quarter of fiscal 2014, at which time the Company will include the required disclosures. | |
Cumulative Translation Adjustments | |
In March 2013, the FASB issued an accounting standard update requiring an entity to release into net income the entire amount of a cumulative translation adjustment related to its investment in a foreign entity when as a parent it either sells a part or all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets within a foreign entity. This accounting standard update is effective for FactSet beginning in the first quarter of fiscal 2014 and is not expected to have an impact on the Company’s consolidated financial statements. |
Note_4_Fair_Value_Measures
Note 4 - Fair Value Measures | 12 Months Ended | ||||||||||||||||
Aug. 31, 2013 | |||||||||||||||||
Disclosure Text Block [Abstract] | |||||||||||||||||
Fair Value, Measurement Inputs, Disclosure [Text Block] | 4. FAIR VALUE MEASURES | ||||||||||||||||
Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, the use of various valuation methodologies, including market, income and cost approaches is permissible. The Company considers the principal or most advantageous market in which it would transact and considers assumptions that market participants would use when pricing the asset or liability. | |||||||||||||||||
(a) Fair Value Hierarchy | |||||||||||||||||
The accounting guidance for fair value measurements establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. There are three levels of inputs that may be used to measure fair value based on the reliability of inputs. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment and may affect their placement within the fair value hierarchy levels. FactSet has categorized its cash equivalents, investments and derivatives within the hierarchy as follows: | |||||||||||||||||
Level 1 - applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. These Level 1 assets and liabilities include FactSet’s corporate money market funds that are classified as cash equivalents. | |||||||||||||||||
Level 2 - applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. The Company’s certificates of deposit and derivative instruments are classified as Level 2. | |||||||||||||||||
Level 3 - applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. There were no Level 3 assets or liabilities held by FactSet as of August 31, 2013 or 2012. | |||||||||||||||||
(b) Assets and Liabilities Measured at Fair Value on a Recurring Basis | |||||||||||||||||
The following tables shows by level within the fair value hierarchy the Company’s assets and liabilities that are measured at fair value on a recurring basis at August 31, 2013 and 2012 (in thousands): | |||||||||||||||||
Fair Value Measurements at Reporting Date Using | |||||||||||||||||
31-Aug-13 | Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets | |||||||||||||||||
Corporate money market funds (1) | $ | 156,693 | $ | - | $ | - | $ | 156,693 | |||||||||
Certificates of deposit (2) | - | 12,725 | - | 12,725 | |||||||||||||
Total assets measured at fair value | $ | 156,693 | $ | 12,725 | $ | - | $ | 169,418 | |||||||||
Liabilities | |||||||||||||||||
Derivative instruments (3) | $ | - | $ | 7,740 | $ | - | $ | 7,740 | |||||||||
Total liabilities measured at fair value | $ | - | $ | 7,740 | $ | - | $ | 7,740 | |||||||||
Fair Value Measurements at Reporting Date Using | |||||||||||||||||
31-Aug-12 | Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets | |||||||||||||||||
Corporate money market funds (1) | $ | 160,169 | $ | - | $ | - | $ | 160,169 | |||||||||
Certificates of deposit (2) | - | 13,919 | - | 13,919 | |||||||||||||
Total assets measured at fair value | $ | 160,169 | $ | 13,919 | $ | - | $ | 174,088 | |||||||||
Liabilities | |||||||||||||||||
Derivative instruments (3) | $ | - | $ | 2,374 | $ | - | $ | 2,374 | |||||||||
Total liabilities measured at fair value | $ | - | $ | 2,374 | $ | - | $ | 2,374 | |||||||||
-1 | The Company’s corporate money market funds are traded in an active market and the net asset value of each fund on the last day of the quarter is used to determine its fair value. As such, the Company’s corporate money market funds are classified as Level 1 and included in cash and cash equivalents on the consolidated balance sheet. | ||||||||||||||||
-2 | The Company’s certificates of deposit held for investment are not debt securities and are classified as Level 2. These certificates of deposit have original maturities greater than three months, but less than one year and, as such, are classified as investments (short-term) on the Company’s consolidated balance sheet. | ||||||||||||||||
-3 | The Company utilizes the income approach to measure fair value for its derivative instruments (foreign exchange forward contracts). The income approach uses pricing models that rely on market observable inputs such as spot, forward and interest rates, as well as credit default swap spreads and therefore are classified as Level 2. | ||||||||||||||||
The Company did not have any transfers between Level 1 and Level 2 fair value measurements during the periods presented. | |||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis were presented on the Company’s Consolidated Balance Sheets at August 31, 2013 and 2012 as follows (in thousands): | |||||||||||||||||
Fair Value Measurements at Reporting Date Using | |||||||||||||||||
31-Aug-13 | Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Cash and cash equivalents | $ | 156,693 | $ | - | $ | - | $ | 156,693 | |||||||||
Investments | - | 12,725 | - | 12,725 | |||||||||||||
Total assets measured at fair value | $ | 156,693 | $ | 12,725 | $ | - | $ | 169,418 | |||||||||
Accounts payable and accrued liabilities | $ | - | $ | 3,085 | $ | - | $ | 3,085 | |||||||||
Deferred rent and other non-current liabilities | 4,655 | - | 4,655 | ||||||||||||||
Total liabilities measured at fair value | $ | - | $ | 7,740 | $ | - | $ | 7,740 | |||||||||
Fair Value Measurements at Reporting Date Using | |||||||||||||||||
31-Aug-12 | Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Cash and cash equivalents | $ | 160,169 | $ | - | $ | - | $ | 160,169 | |||||||||
Investments | - | 13,919 | - | 13,919 | |||||||||||||
Total assets measured at fair value | $ | 160,169 | $ | 13,919 | $ | - | $ | 174,088 | |||||||||
Accounts payable and accrued liabilities | $ | - | $ | 2,374 | $ | - | $ | 2,374 | |||||||||
Total liabilities measured at fair value | $ | - | $ | 2,374 | $ | - | $ | 2,374 | |||||||||
(c) Assets and Liabilities Measured at Fair Value on a Non-recurring Basis | |||||||||||||||||
Certain assets, including goodwill and intangible assets, and liabilities, are measured at fair value on a non-recurring basis; that is, the assets and liabilities are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances such as when they are deemed to be other-than-temporarily impaired. The fair values of these non-financial assets and liabilities are determined based on valuation techniques using the best information available, and may include quoted market prices, market comparables, and discounted cash flow projections. An impairment charge is recorded when the cost exceeds its fair value and this condition is determined to be other-than-temporary. During fiscal 2013, no fair value adjustments or material fair value measurements were required for the Company’s non-financial assets or liabilities. |
Note_5_Derivative_Instruments
Note 5 - Derivative Instruments | 12 Months Ended | |||||||||||||||||
Aug. 31, 2013 | ||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 5. DERIVATIVE INSTRUMENTS | |||||||||||||||||
FactSet enters into foreign currency forward contracts to reduce the effects of foreign currency fluctuations. These transactions are designated and accounted for as cash flow hedges in accordance with applicable accounting guidance. There was no discontinuance of cash flow hedges during fiscal 2013 or fiscal 2012 and as such, no corresponding gains or losses were reclassified into earnings. The changes in fair value for these foreign currency forward contracts are initially reported as a component of accumulated other comprehensive loss (“AOCL”) and subsequently reclassified into operating expenses when the hedged exposure affects earnings. | ||||||||||||||||||
As of August 31, 2013, FactSet maintains foreign currency forward contracts to hedge approximately 75% of its Indian Rupee exposure through the end of the second quarter of fiscal 2016, 40% of its net British Pound exposure through the end of the second quarter of fiscal 2014 and 50% of its Philippines Peso exposure through the end of fiscal 2014. The Company is required to recognize all derivative instruments as either assets or liabilities at fair value in the consolidated balance sheet. At August 31, 2013, the notional principal and fair value of foreign exchange contracts to purchase Indian Rupees with U.S. dollars was Rs.2.9 billion and ($7.7) million, respectively. At August 31, 2013, the notional principal and fair value of foreign exchange contracts to purchase British Pounds with U.S. dollars was £6.8 million and $0.1 million, respectively. At August 31, 2013, the notional principal and fair value of foreign exchange contracts to purchase Philippine Pesos with U.S. dollars was Php515.9 million and ($0.2) million, respectively. | ||||||||||||||||||
The following is a summary of all hedging positions and corresponding fair values (in thousands): | ||||||||||||||||||
Gross Notional Value | Fair Value Asset (Liability) | |||||||||||||||||
Currency Hedged (in U.S. dollars) | 31-Aug-13 | 31-Aug-12 | 31-Aug-13 | 31-Aug-12 | ||||||||||||||
Indian Rupee | $ | 47,388 | $ | 36,286 | $ | (7,693 | ) | $ | (2,434 | ) | ||||||||
British Pound | 10,436 | - | 131 | - | ||||||||||||||
Philippine Peso | 11,700 | - | (178 | ) | - | |||||||||||||
Euro | - | 10,160 | - | 60 | ||||||||||||||
Total | $ | 69,524 | $ | 46,446 | $ | (7,740 | ) | $ | (2,374 | ) | ||||||||
Counterparty Credit Risk | ||||||||||||||||||
As a result of the use of derivative instruments, the Company is exposed to counterparty credit risk. FactSet has incorporated counterparty risk into the fair value of its derivative assets and its own credit risk into the value of the Company’s derivative liabilities. FactSet calculates credit risk from observable data related to credit default swaps (“CDS”) as quoted by publicly available information. Counterparty risk is represented by CDS spreads related to the senior secured debt of the respective bank with whom FactSet has executed these derivative transactions. Because CDS spread information is not available for FactSet, the Company’s credit risk is determined based on using a simple average of CDS spreads for peer companies. To mitigate counterparty credit risk, FactSet enters into contracts with large financial institutions. The Company regularly reviews its credit exposure balances as well as the creditworthiness of the counterparties. The Company does not expect any losses as a result of default of its counterparties. | ||||||||||||||||||
Fair Value of Derivative Instruments | ||||||||||||||||||
The following tables provide a summary of the fair value amounts of derivative instruments and gains and losses on derivative instruments (in thousands): | ||||||||||||||||||
Designation of Derivatives | Balance Sheet Location | Aug 31, | Aug 31, | |||||||||||||||
2013 | 2012 | |||||||||||||||||
Derivatives designated as hedging instruments | Liabilities: Foreign Currency Forward Contracts | |||||||||||||||||
Accounts payable and accrued expenses | $ | 3,085 | $ | 2,374 | ||||||||||||||
Deferred rent and other non-current liabilities | $ | 4,655 | $ | - | ||||||||||||||
All derivatives were designated as hedging instruments as of August 31, 2013 and 2012, respectively. | ||||||||||||||||||
Derivatives in Cash Flow Hedging Relationships for the twelve months ended August 31, 2013 and 2012 (in thousands): | ||||||||||||||||||
Loss Recognized | Location of Loss | Loss Reclassified | ||||||||||||||||
in AOCL on Derivatives | Reclassified from AOCL | from AOCL into Income | ||||||||||||||||
(Effective Portion) | into Income | (Effective Portion) | ||||||||||||||||
Derivatives in Cash Flow Hedging Relationships | 2013 | 2012 | (Effective Portion) | 2013 | 2012 | |||||||||||||
Foreign currency forward contracts | $ | (4,296 | ) | $ | (3,172 | ) | SG&A | $ | (1,000 | ) | $ | (1,031 | ) | |||||
Note: No amount of ineffectiveness was recorded in the Consolidated Statements of Income for these designated cash flow hedges and all components of each derivative’s gain or loss was included in the assessment of hedge effectiveness. | ||||||||||||||||||
Accumulated Unrealized Loss on Cash Flow Hedges | ||||||||||||||||||
The following table provides a summary of the activity associated with all of the Company’s designated cash flow hedges reflected in AOCL (in thousands and net of tax): | ||||||||||||||||||
Twelve Months Ended | ||||||||||||||||||
August 31, | ||||||||||||||||||
2013 | 2012 | |||||||||||||||||
Beginning balance | $ | (1,551 | ) | $ | 590 | |||||||||||||
Changes in fair value | (4,296 | ) | (3,172 | ) | ||||||||||||||
Realized loss reclassified to earnings | 1,000 | 1,031 | ||||||||||||||||
Ending balance | $ | (4,847 | ) | $ | (1,551 | ) | ||||||||||||
Note_6_Segment_Information
Note 6 - Segment Information | 12 Months Ended | |||||||||||||||||
Aug. 31, 2013 | ||||||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||||||
Segment Reporting Disclosure [Text Block] | 6. SEGMENT INFORMATION | |||||||||||||||||
Operating segments are defined as components of an enterprise that engage in business activities from which it may earn revenues and incur expenses, whose operating results are regularly reviewed by the enterprise’s chief operating decision maker (“CODM”) to make decisions about resources to be allocated to the segment and assess its performance, and for which discrete financial information is available. FactSet’s CODM is its Chief Executive Officer, who is responsible for making decisions about resources allocated amongst the operating segments based on actual results. | ||||||||||||||||||
FactSet’s operating segments are aligned with how the Company, including its CODM, manages the business and the demographic markets in which FactSet serves. The Company’s internal financial reporting structure is based on three segments; U.S., Europe and Asia Pacific. FactSet believes this alignment helps it better manage the business and view the markets the Company serves, which are centered on providing integrated global financial and economic information. Sales, consulting, data collection and software engineering are the primary functional groups within the U.S., Europe and Asia Pacific segments that provide global financial and economic information to investment managers, investment banks and other financial services professionals. The U.S. segment services finance professionals including financial institutions throughout the Americas, while the European and Asia Pacific segments service investment professionals located throughout Europe and Asia, respectively. The accounting policies of the segments are the same as those described in the Note 3, Summary of Significant Accounting Policies. | ||||||||||||||||||
The European segment is headquartered in London, England and maintains office locations in France, Germany, the Netherlands, Latvia, Dubai and Italy. The Asia Pacific segment is headquartered in Tokyo, Japan with office locations in Hong Kong, Australia and Mumbai. Segment revenues reflect direct sales to clients based in their respective geographic locations. There are no intersegment or intercompany sales of the FactSet service. Each segment records compensation, including stock-based compensation, amortization of intangible assets, depreciation of furniture and fixtures, amortization of leasehold improvements, communication costs, professional fees, rent expense, travel, marketing, office and other direct expenses. Expenditures associated with the Company’s data centers, third party data costs and corporate headquarters charges are recorded by the U.S. segment and are not allocated to the other segments. The content collection centers located in India and the Philippines benefit all of the Company’s operating segments and thus the expenses incurred at these locations are allocated to each segment based on a percentage of revenues. Of the total $245 million of goodwill reported by the Company at August 31, 2013, 69% was recorded in the U.S. segment, 30% in the European segment and the remaining 1% in the Asia Pacific segment. | ||||||||||||||||||
The following reflects the results of operations of the segments consistent with the Company’s management system. These results are used, in part, by management, both in evaluating the performance of, and in allocating resources to, each of the segments (in thousands). | ||||||||||||||||||
Year Ended August 31, 2013 | U.S. | Europe | Asia Pacific | Total | ||||||||||||||
Revenues from clients | $ | 586,865 | $ | 208,827 | $ | 62,420 | $ | 858,112 | ||||||||||
Segment operating profit | 138,706 | 100,187 | 30,526 | 269,419 | ||||||||||||||
Total assets | 444,406 | 193,202 | 52,589 | 690,197 | ||||||||||||||
Depreciation and amortization | 27,757 | 4,027 | 3,995 | 35,779 | ||||||||||||||
Stock-based compensation | 37,307 | 2,264 | 380 | 39,951 | ||||||||||||||
Capital expenditures | 13,649 | 1,276 | 3,592 | 18,517 | ||||||||||||||
Year Ended August 31, 2012 | U.S. | Europe | Asia Pacific | Total | ||||||||||||||
Revenues from clients | $ | 550,474 | $ | 197,404 | $ | 57,915 | $ | 805,793 | ||||||||||
Segment operating profit | 149,968 | 95,417 | 27,605 | 272,990 | ||||||||||||||
Total assets | 377,320 | 266,967 | 49,856 | 694,143 | ||||||||||||||
Depreciation and amortization | 25,061 | 4,922 | 3,796 | 33,779 | ||||||||||||||
Stock-based compensation | 20,180 | 1,680 | 122 | 21,982 | ||||||||||||||
Capital expenditures | 20,408 | 488 | 1,624 | 22,520 | ||||||||||||||
Year Ended August 31, 2011 | U.S. | Europe | Asia Pacific | Total | ||||||||||||||
Revenues from clients | $ | 497,564 | $ | 178,693 | $ | 50,253 | $ | 726,510 | ||||||||||
Segment operating profit | 135,327 | 79,637 | 23,371 | 238,335 | ||||||||||||||
Total assets | 353,205 | 274,139 | 30,096 | 657,440 | ||||||||||||||
Depreciation and amortization | 27,463 | 6,092 | 3,292 | 36,847 | ||||||||||||||
Stock-based compensation | 23,091 | 2,364 | 318 | 25,773 | ||||||||||||||
Capital expenditures | 20,588 | 2,770 | 5,985 | 29,343 | ||||||||||||||
GEOGRAPHIC INFORMATION - The following table sets forth information for those countries that are 10% or more of revenues (in thousands). | ||||||||||||||||||
Years Ended August 31, | 2013 | 2012 | 2011 | |||||||||||||||
Revenues* | ||||||||||||||||||
United States | $ | 586,865 | $ | 550,474 | $ | 497,564 | ||||||||||||
United Kingdom | 121,072 | 114,435 | 104,698 | |||||||||||||||
All other European countries | 87,755 | 82,969 | 73,995 | |||||||||||||||
Asia Pacific | 62,420 | 57,915 | 50,253 | |||||||||||||||
Total revenues | $ | 858,112 | $ | 805,793 | $ | 726,510 | ||||||||||||
* Revenues are attributed to countries based on the location of the client. | ||||||||||||||||||
The following table sets forth long-lived assets by geographic area (in thousands): | ||||||||||||||||||
At August 31, | 2013 | 2012 | 2011 | |||||||||||||||
Long-lived Assets** | ||||||||||||||||||
United States | $ | 51,184 | $ | 60,288 | $ | 60,092 | ||||||||||||
United Kingdom | 4,806 | 5,466 | 6,863 | |||||||||||||||
Philippines | 3,228 | 3,420 | 4,181 | |||||||||||||||
India | 1,753 | 2,921 | 4,453 | |||||||||||||||
France | 1,701 | 2,079 | 2,859 | |||||||||||||||
All other European countries | 1,350 | 872 | 1,216 | |||||||||||||||
All other Asia Pacific countries | 1,349 | 1,484 | 1,956 | |||||||||||||||
Total long-lived assets | $ | 65,731 | $ | 76,530 | $ | 81,620 | ||||||||||||
** Long-lived assets consist of property, equipment and leasehold improvements, net of accumulated depreciation and amortization and exclude goodwill, intangible assets, deferred taxes and other assets. |
Note_7_Business_Combinations
Note 7 - Business Combinations | 12 Months Ended | ||||
Aug. 31, 2013 | |||||
Business Combinations [Abstract] | |||||
Business Combination Disclosure [Text Block] | 7. BUSINESS COMBINATIONS | ||||
StreetAccount | |||||
On June 29, 2012, FactSet acquired StreetAccount LLC (“SA”) to complement the Company's news offering with distilled and crucial market moving information for buy-side and sell-side institutions. Founded in 2003, SA is known for its timely and informative news summaries and provides investment professionals with an efficient method for managing news flow. The SA service includes real-time company updates, portfolio and sector filtering, email alerts, and market summaries. Content is written by financial professionals and can be customized for portfolio, index, sector, market, time of day (i.e., Overnight Summaries), and category (i.e., Top Stories, Market Summaries, Economic, M&A). As of the date of acquisition, SA had annual subscriptions of $11.4 million and employed 49 individuals. | |||||
As of the date of acquisition, SA did not have a significant international presence and FactSet believed it could leverage its international network to sell SA outside the U.S. as many of their current clients would like to see the SA news offering increase coverage in Europe and Asia. The opportunity for FactSet to grow by providing proprietary financial news to clients worldwide contributed to a purchase price in excess of fair value of the StreetAccount net tangible and intangible assets. As a result, FactSet recorded goodwill in connection with this transaction. | |||||
The total purchase price of the acquisition is as follows (in thousands): | |||||
Cash consideration | $ | 21,633 | |||
Fair value of FactSet stock issued | 3,974 | ||||
Working capital | 711 | ||||
Total purchase price | $ | 26,318 | |||
Allocation of the purchase price to the assets acquired and liabilities assumed was finalized for this acquisition in the first quarter of fiscal 2013. The total purchase price was allocated to StreetAccount’s net tangible and intangible assets based upon their estimated fair value as of the date of acquisition. | |||||
Based upon the purchase price and the valuation, the allocation is as follows (in thousands): | |||||
Tangible assets acquired | $ | 3,584 | |||
Amortizable intangible assets | |||||
Client relationships | 2,822 | ||||
Software technology | 2,332 | ||||
Data content | 613 | ||||
Non-compete agreements | 404 | ||||
Trade name | 186 | ||||
Goodwill | 21,997 | ||||
Total assets acquired | 31,938 | ||||
Liabilities assumed | (5,620 | ) | |||
Net assets acquired | $ | 26,318 | |||
Intangible assets of $6.4 million have been allocated to amortizable intangible assets consisting of client relationships, amortized over seven years using an accelerated amortization method; software technology, amortized over five years using a straight-line amortization method; data content, amortized over three years using a straight-line amortization method; non-compete agreements, amortized over four years using an accelerated amortization method; and trade name, amortized over two years using a straight-line amortization method. | |||||
Goodwill totaling $22.0 million represents the excess of the purchase price over the fair value of the net tangible and intangible assets acquired. Goodwill will not be amortized, but tested for impairment at least annually. Goodwill generated from the StreetAccount acquisition is included in the U.S. segment and is deductible for income tax purposes. The results of operations of StreetAccount have been included in the Company’s Consolidated Statement of Income since the completion of the acquisition on June 29, 2012 and did not have a material impact on fiscal 2013. Pro forma information has not been presented because the effect of this acquisition was not material on the Company’s consolidated financial results. |
Note_8_Goodwill
Note 8 - Goodwill | 12 Months Ended | ||||||||||||||||
Aug. 31, 2013 | |||||||||||||||||
Disclosure Text Block Supplement [Abstract] | |||||||||||||||||
Goodwill Disclosure [Text Block] | 8. GOODWILL | ||||||||||||||||
There were no business combinations during fiscal 2013. Changes in the carrying amount of goodwill by segment for fiscal years ended August 31, 2013 and 2012 are as follows (in thousands): | |||||||||||||||||
U.S. | Europe | Asia Pacific | Total | ||||||||||||||
Balance at August 31, 2011 | $ | 145,826 | $ | 78,172 | $ | 4,267 | $ | 228,265 | |||||||||
Goodwill acquired during the period | 21,991 | — | — | 21,991 | |||||||||||||
Foreign currency translations | — | (4,366 | ) | (99 | ) | (4,465 | ) | ||||||||||
Balance at August 31, 2012 | $ | 167,817 | $ | 73,806 | $ | 4,168 | $ | 245,791 | |||||||||
Goodwill acquired during the period | 5 | — | — | 5 | |||||||||||||
Foreign currency translations | — | (382 | ) | (841 | ) | (1,223 | ) | ||||||||||
Balance at August 31, 2013 | $ | 167,822 | $ | 73,424 | $ | 3,327 | $ | 244,573 | |||||||||
Goodwill is not amortized as it has an estimated infinite life. At least annually, the Company evaluates goodwill at the reporting unit level for potential impairment. Goodwill is tested for impairment based on the present value of discounted cash flows, and, if impaired, written down to fair value based on discounted cash flows. The Company has three reporting units, which are consistent with the operating segments reported because there is no discrete financial information available for the subsidiaries within each operating segment. The Company’s reporting units evaluated for potential impairment were U.S., Europe and Asia Pacific, which reflects the level of internal reporting the Company uses to manage its business and operations. The Company performed an annual goodwill impairment test during the fourth quarter of fiscal years 2013, 2012 and 2011, which determined that there were no reporting units that were deemed at risk. The fair value of each of the Company’s reporting units significantly exceeded carrying value, thus there had been no impairment. |
Note_9_Intangible_Assets
Note 9 - Intangible Assets | 12 Months Ended | ||||||||||||
Aug. 31, 2013 | |||||||||||||
Disclosure Text Block [Abstract] | |||||||||||||
Intangible Assets Disclosure [Text Block] | 9. INTANGIBLE ASSETS | ||||||||||||
FactSet’s identifiable intangible assets consist of acquired content databases, client relationships, software technology, non-compete agreements and trade names resulting from previous acquisitions, which have been fully integrated into the Company’s operations. The weighted average useful life of the Company’s acquired intangible assets at August 31, 2013 was 11.6 years. The Company amortizes intangible assets over their estimated useful lives, which are evaluated quarterly to determine whether events and circumstances warrant a revision to the remaining period of amortization. There were no changes to the estimate of the remaining useful lives during fiscal years 2013, 2012 and 2012. Amortizable intangible assets are tested for impairment based on undiscounted cash flows, and, if impaired, written down to fair value based on discounted cash flows. No impairment of intangible assets has been identified during any of the periods presented. The intangible assets have no assigned residual values. | |||||||||||||
The gross carrying amounts and accumulated amortization totals related to the Company’s identifiable intangible assets are as follows (in thousands): | |||||||||||||
At August 31, 2013 | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | ||||||||||
Data content | $ | 49,185 | $ | 22,419 | $ | 26,766 | |||||||
Client relationships | 22,915 | 16,185 | 6,730 | ||||||||||
Software technology | 20,914 | 19,126 | 1,788 | ||||||||||
Non-compete agreements | 2,154 | 1,293 | 861 | ||||||||||
Trade names | 758 | 680 | 78 | ||||||||||
Total | $ | 95,926 | $ | 59,703 | $ | 36,223 | |||||||
At August 31, 2012 | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | ||||||||||
Data content | $ | 49,120 | $ | 18,521 | $ | 30,599 | |||||||
Client relationships | 22,841 | 14,089 | 8,752 | ||||||||||
Software technology | 20,892 | 18,482 | 2,410 | ||||||||||
Non-compete agreements | 2,154 | 810 | 1,344 | ||||||||||
Trade names | 758 | 492 | 266 | ||||||||||
Total | $ | 95,765 | $ | 52,394 | $ | 43,371 | |||||||
There were no intangible assets acquired during fiscal 2013. During fiscal 2012, $6.4 million of intangible assets were acquired with a weighted average useful life of 5.5 years due to the acquisition of StreetAccount on June 29, 2012. | |||||||||||||
StreetAccount Intangible Asset Allocation | Weighted Average | Acquisition Cost | |||||||||||
Amortization Period | |||||||||||||
(years) | |||||||||||||
Client relationships | 7 | $ | 2,822 | ||||||||||
Software technology | 5 | 2,332 | |||||||||||
Data content | 3 | 613 | |||||||||||
Non-compete agreements | 4 | 404 | |||||||||||
Trade name | 2 | 186 | |||||||||||
Total | 5.5 | $ | 6,357 | ||||||||||
Amortization expense recorded for intangible assets during fiscal years 2013, 2012 and 2011 was $7.1 million, $7.5 million and $8.4 million, respectively. As of August 31, 2013, estimated intangible asset amortization expense for each of the next five years and thereafter are as follows (in thousands): | |||||||||||||
Fiscal Year | Estimated | ||||||||||||
Amortization Expense | |||||||||||||
2014 | $ | 5,983 | |||||||||||
2015 | 5,053 | ||||||||||||
2016 | 3,407 | ||||||||||||
2017 | 3,273 | ||||||||||||
2018 | 2,914 | ||||||||||||
Thereafter | 15,593 | ||||||||||||
Total | $ | 36,223 | |||||||||||
Note_10_Property_Equipment_and
Note 10 - Property, Equipment and Leasehold Improvements | 12 Months Ended | ||||||||
Aug. 31, 2013 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
Property, Plant and Equipment Disclosure [Text Block] | 10. PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS | ||||||||
Property, equipment and leasehold improvements consist of the following (in thousands): | |||||||||
At August 31, | 2013 | 2012 | |||||||
Leasehold improvements | $ | 90,040 | $ | 88,327 | |||||
Computers and related equipment | 73,320 | 74,370 | |||||||
Furniture and fixtures | 28,978 | 26,849 | |||||||
Subtotal | $ | 192,338 | $ | 189,546 | |||||
Less accumulated depreciation and amortization | (126,967 | ) | (113,016 | ) | |||||
Property, equipment and leasehold improvements, net | $ | 65,371 | $ | 76,530 | |||||
Depreciation expense was $28.4 million, $26.1 million and $27.9 million for fiscal years 2013, 2012 and 2011, respectively. |
Note_11_Common_Stock_and_Earni
Note 11 - Common Stock and Earnings Per Share | 12 Months Ended | |||||||||||||||||||||||||||||||||||||
Aug. 31, 2013 | ||||||||||||||||||||||||||||||||||||||
Earnings Per Share [Abstract] | ||||||||||||||||||||||||||||||||||||||
Earnings Per Share [Text Block] | 11. COMMON STOCK AND EARNINGS PER SHARE | |||||||||||||||||||||||||||||||||||||
On May 14, 2013, FactSet’s Board of Directors approved a 13% increase in the regular quarterly dividend, beginning with the Company’s dividend payment in June 2013 of $0.35 per share, or $1.40 per share per annum. | ||||||||||||||||||||||||||||||||||||||
Shares of common stock outstanding were as follows (in thousands): | ||||||||||||||||||||||||||||||||||||||
Years Ended August 31, | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||
Balance, beginning of year (September 1) | 44,279 | 45,055 | 46,024 | |||||||||||||||||||||||||||||||||||
Common stock issued for employee stock plans | 2,459 | 825 | 1,283 | |||||||||||||||||||||||||||||||||||
Stock issued for acquisition of business | - | 43 | - | |||||||||||||||||||||||||||||||||||
Repurchase of common stock | (3,414 | ) | (1,644 | ) | (2,252 | ) | ||||||||||||||||||||||||||||||||
Balance, end of year (August 31) | 43,324 | 44,279 | 45,055 | |||||||||||||||||||||||||||||||||||
A reconciliation of the weighted average shares outstanding used in the basic and diluted earnings per share computations is as follows (in thousands, except per share data): | ||||||||||||||||||||||||||||||||||||||
Net Income (Numerator) | Weighted Average Common Shares (Denominator) | Per Share Amount | ||||||||||||||||||||||||||||||||||||
Years Ended August 31, | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||
Basic EPS | ||||||||||||||||||||||||||||||||||||||
Income available to common stockholders | $ | 198,637 | $ | 188,809 | $ | 171,046 | 43,890 | 44,784 | 45,953 | $ | 4.53 | $ | 4.22 | $ | 3.72 | |||||||||||||||||||||||
Diluted EPS | ||||||||||||||||||||||||||||||||||||||
Dilutive effect of stock options and restricted stock | 734 | 1,026 | 1,402 | |||||||||||||||||||||||||||||||||||
Income available to common stockholders plus assumed conversions | $ | 198,637 | $ | 188,809 | $ | 171,046 | 44,624 | 45,810 | 47,355 | $ | 4.45 | $ | 4.12 | $ | 3.61 | |||||||||||||||||||||||
Dilutive potential common shares consist of stock options and unvested restricted stock. There were 6,408 stock options excluded from the fiscal 2013 calculation of diluted earnings per share compared to 383,058 stock options excluded from the fiscal 2012 calculation because their inclusion would have been anti-dilutive. A total of 2,670 stock options were excluded from the fiscal 2011 calculation of diluted earnings per share. There were 30,456 restricted stock awards excluded from the calculation of diluted earnings per share in fiscal 2013 and 2012 compared to 11,284 in fiscal 2011. | ||||||||||||||||||||||||||||||||||||||
As of August 31, 2013, 2012 and 2011, 1,202,685, 1,710,017 and 1,672,975, respectively, performance-based stock option grants were excluded from the calculation of diluted earnings per share. Performance-based stock options are omitted from the calculation of diluted earnings per share until the performance criteria have been met. |
Note_12_Stockholders_Equity
Note 12 - Stockholders' Equity | 12 Months Ended | |||||||||||
Aug. 31, 2013 | ||||||||||||
Stockholders' Equity Note [Abstract] | ||||||||||||
Stockholders' Equity Note Disclosure [Text Block] | 12. STOCKHOLDERS’ EQUITY | |||||||||||
Preferred Stock | ||||||||||||
At August 31, 2013 and 2012, there were 10,000,000 shares of preferred stock ($.01 par value per share) authorized, of which no shares were issued and outstanding. FactSet’s Board of Directors may from time to time authorize the issuance of one or more series of preferred stock and, in connection with the creation of such series, determine the characteristics of each such series including, without limitation, the preference and relative, participating, optional or other special rights, and the qualifications, limitations or restrictions of the series. | ||||||||||||
Common Stock | ||||||||||||
At August 31, 2013 and 2012, there were 150,000,000 shares of common stock ($.01 par value per share) authorized, of which 48,110,740 and 45,599,754 shares were issued, respectively. The authorized shares of common stock are issuable for any proper corporate purpose, including future stock splits, stock dividends, acquisitions, raising equity capital or to adopt additional employee benefit plans. | ||||||||||||
Treasury Stock | ||||||||||||
At August 31, 2013 and August 31, 2012, there were 4,786,330 and 1,320,540 shares of treasury stock (at cost) outstanding, respectively. As a result, 43,324,410 and 44,279,214 shares of FactSet common stock were outstanding at August 31, 2013 and August 31, 2012, respectively. | ||||||||||||
Share Repurchase Program | ||||||||||||
On May 14, 2013, the Company’s Board of Directors approved a $200 million expansion to the existing share repurchase program. During fiscal 2013, the Company repurchased 3.4 million shares for $327.3 million under the existing share repurchase program leaving $62.4 million authorized for future share repurchases at August 31, 2013. Repurchases may be made from time to time in the open market and privately negotiated transactions, subject to market conditions. No minimum number of shares to be repurchased has been fixed. There is no timeframe to complete the repurchase program and it is expected that share repurchases will be paid using existing and future cash generated by operations. During fiscal 2012, the Company repurchased 1.6 million shares for $152.7 million under the share repurchase program. | ||||||||||||
In addition to the purchase of 3.4 million shares under the existing share repurchase program, FactSet repurchased 50,828 shares for $4.7 million from employees to cover their cost of taxes upon the vesting of previously granted restricted stock during fiscal 2013. | ||||||||||||
Restricted Stock | ||||||||||||
Restricted stock awards entitle the holder to shares of common stock as the awards vest over time. During fiscal 2013, FactSet granted 131,702 restricted stock awards compared to none in fiscal 2012. During fiscal 2011, 149,741 restricted stock awards vested and are included in the common stock outstanding as of August 31, 2013 (less 50,828 shares repurchased from employees to cover their cost of taxes upon vesting of the restricted stock). During fiscal 2012, 14,258 restricted stock awards vested. | ||||||||||||
Dividends | ||||||||||||
The Company’s Board of Directors declared the following dividends during the periods presented: | ||||||||||||
Declaration Date | Dividends Per | Type | Record Date | Total $ | Payment Date | |||||||
Share of | Amount | |||||||||||
Common Stock | (in thousands) | |||||||||||
15-Aug-13 | $ | 0.35 | Regular (cash) | 31-Aug-13 | $ | 15,164 | 17-Sep-13 | |||||
14-May-13 | $ | 0.35 | Regular (cash) | 31-May-13 | $ | 15,413 | 18-Jun-13 | |||||
21-Feb-13 | $ | 0.31 | Regular (cash) | 28-Feb-13 | $ | 13,510 | 19-Mar-13 | |||||
15-Nov-12 | $ | 0.31 | Regular (cash) | 30-Nov-12 | $ | 13,746 | 18-Dec-12 | |||||
8-Aug-12 | $ | 0.31 | Regular (cash) | 31-Aug-12 | $ | 13,727 | 18-Sep-12 | |||||
8-May-12 | $ | 0.31 | Regular (cash) | 31-May-12 | $ | 13,893 | 19-Jun-12 | |||||
14-Feb-12 | $ | 0.27 | Regular (cash) | 29-Feb-12 | $ | 12,085 | 20-Mar-12 | |||||
10-Nov-11 | $ | 0.27 | Regular (cash) | 30-Nov-11 | $ | 12,181 | 20-Dec-11 | |||||
11-Aug-11 | $ | 0.27 | Regular (cash) | August, 31 2011 | $ | 12,165 | 20-Sep-11 | |||||
9-May-11 | $ | 0.27 | Regular (cash) | 31-May-11 | $ | 12,374 | 21-Jun-11 | |||||
9-Feb-11 | $ | 0.23 | Regular (cash) | 28-Feb-11 | $ | 10,612 | 15-Mar-11 | |||||
10-Nov-10 | $ | 0.23 | Regular (cash) | 30-Nov-10 | $ | 10,660 | 21-Dec-10 | |||||
10-Aug-10 | $ | 0.23 | Regular (cash) | August, 31 2010 | $ | 10,586 | 21-Sep-10 | |||||
All of the above cash dividends were paid from existing cash resources. Future dividend payments will depend on the Company’s earnings, capital requirements, financial condition and other factors considered relevant by the Company and is subject to final determination by the Company’s Board of Directors. | ||||||||||||
Accumulated Other Comprehensive Loss | ||||||||||||
The components of accumulated other comprehensive loss are as follows (in thousands): | ||||||||||||
31-Aug-13 | 31-Aug-12 | |||||||||||
Accumulated unrealized loss on cash flow hedges, net of tax | $ | (4,847 | ) | $ | (1,551 | ) | ||||||
Accumulated foreign currency translation adjustments | (26,326 | ) | (21,175 | ) | ||||||||
Total accumulated other comprehensive loss | $ | (31,173 | ) | $ | (22,726 | ) | ||||||
Note_13_Employee_Stock_Option_
Note 13 - Employee Stock Option and Retirement Plans | 12 Months Ended | |||||||||||||||||||||||||||||
Aug. 31, 2013 | ||||||||||||||||||||||||||||||
Employee Stock Option And Retirement Plans [Abstract] | ||||||||||||||||||||||||||||||
Employee Stock Option And Retirement Plans [Text Block] | 13. EMPLOYEE STOCK OPTION AND RETIREMENT PLANS | |||||||||||||||||||||||||||||
Stock Options | ||||||||||||||||||||||||||||||
Options granted without performance conditions under the Company’s stock option plans expire either seven or ten years from the date of grant and the majority vest at a rate of 20% after the first year and 1.67% per month thereafter for years two through five. Options become vested and exercisable provided the employee continues employment with the Company through the applicable vesting date and remain exercisable until expiration or cancellation. The majority of the options granted with performance conditions expire either seven or ten years from the date of grant and vest at a rate of 40% after the first two years and 1.67% per month thereafter for years three through five. Options are not transferable or assignable other than by will or the laws of descent and distribution. During the grantee’s lifetime, they may be exercised only by the grantee. | ||||||||||||||||||||||||||||||
Stock Option Activity | ||||||||||||||||||||||||||||||
In fiscal years 2013, 2012 and 2011, stock options to purchase 1,674,966; 1,468,513; and 998,038 shares of common stock, respectively, at prices which ranged from $88.40 to $103.30 were granted to existing employees and non-employee directors of the Company. A summary of stock option activity is as follows (in thousands, except per share data): | ||||||||||||||||||||||||||||||
Number | Weighted Average | |||||||||||||||||||||||||||||
Outstanding | Exercise Price Per Share | |||||||||||||||||||||||||||||
Balance at August 31, 2010 | 6,451 | $ | 47.73 | |||||||||||||||||||||||||||
Granted – non performance-based | 91 | 89.45 | ||||||||||||||||||||||||||||
Granted – performance-based | 892 | 89.39 | ||||||||||||||||||||||||||||
Granted – non-employee Directors grant | 15 | 95.05 | ||||||||||||||||||||||||||||
Exercised | (1,209 | ) | 32.08 | |||||||||||||||||||||||||||
Forfeited | (108 | ) | 66.55 | |||||||||||||||||||||||||||
Balance at August 31, 2011 | 6,132 | $ | 57.28 | |||||||||||||||||||||||||||
Granted – non performance-based | 540 | 93.96 | ||||||||||||||||||||||||||||
Granted – performance-based | 907 | 93.8 | ||||||||||||||||||||||||||||
Granted – non-employee Directors grant | 21 | 87.26 | ||||||||||||||||||||||||||||
Exercised | (731 | ) | 35.96 | |||||||||||||||||||||||||||
Forfeited | (786 | ) | 87.37 | |||||||||||||||||||||||||||
Balance at August 31, 2012 | 6,083 | $ | 64.76 | |||||||||||||||||||||||||||
Granted – non performance-based | 645 | 92.22 | ||||||||||||||||||||||||||||
Granted – performance-based | 1,011 | 92.22 | ||||||||||||||||||||||||||||
Granted – non-employee Directors grant | 19 | 91.06 | ||||||||||||||||||||||||||||
Exercised | (2,286 | ) | 52.25 | |||||||||||||||||||||||||||
Forfeited | (743 | ) | 93.84 | |||||||||||||||||||||||||||
Balance at August 31, 2013 | 4,729 | $ | 75.95 | |||||||||||||||||||||||||||
Stock Options Outstanding and Exercisable | ||||||||||||||||||||||||||||||
The following table summarizes ranges of outstanding and exercisable options as of August 31, 2013 (in thousands, except per share data): | ||||||||||||||||||||||||||||||
Outstanding | Exercisable | |||||||||||||||||||||||||||||
Range of Exercise Prices Per Share | Number Outstanding | Weighted Average | Weighted | Aggregate | Number | Weighted | Aggregate | |||||||||||||||||||||||
Remaining Years of | Average | Intrinsic | Exercisable | Average | Intrinsic | |||||||||||||||||||||||||
Contractual Life | Exercise | Value | Exercise | Value | ||||||||||||||||||||||||||
Price Per | Price Per | |||||||||||||||||||||||||||||
Share | Share | |||||||||||||||||||||||||||||
$24.49 | – | $59.36 | 782 | 1.4 | $ | 39.96 | $ | 48,801 | 759 | $ | 40.03 | $ | 47,293 | |||||||||||||||||
$61.65 | – | $65.67 | 661 | 2.5 | $ | 64.44 | $ | 25,046 | 379 | $ | 65.44 | $ | 13,992 | |||||||||||||||||
$66.46 | – | $67.41 | 696 | 3.1 | $ | 66.47 | $ | 24,975 | 495 | $ | 66.47 | $ | 17,749 | |||||||||||||||||
$87.26 | – | $91.06 | 551 | 8.4 | $ | 90.08 | $ | 6,761 | 142 | $ | 88.74 | $ | 1,935 | |||||||||||||||||
$92.22 | – | $92.55 | 1,591 | 9.2 | $ | 92.22 | $ | 16,111 | - | $ | 92.22 | $ | - | |||||||||||||||||
$94.84 | – | $103.30 | 448 | 8 | $ | 95.28 | $ | 3,167 | 150 | $ | 94.92 | $ | 1,113 | |||||||||||||||||
Total Fiscal 2013 | 4,729 | 5.9 | $ | 75.95 | $ | 124,861 | 1,925 | $ | 59.7 | $ | 82,082 | |||||||||||||||||||
Prior Year Amounts | 2012 | 2011 | ||||||||||||||||||||||||||||
Number of | Weighted Average Exercise | Number of | Weighted Average Exercise | |||||||||||||||||||||||||||
Shares | Price Per Share | Shares | Price Per Share | |||||||||||||||||||||||||||
Outstanding at fiscal year end | 6,083 | $ | 64.76 | 6,132 | $ | 57.28 | ||||||||||||||||||||||||
Exercisable at fiscal year end | 2,858 | $ | 48.44 | 2,643 | $ | 38.99 | ||||||||||||||||||||||||
The aggregate intrinsic value of in-the-money stock options exercisable at August 31, 2013 and 2012 was $82.1 million and $125.4 million, respectively. Aggregate intrinsic value represents the difference between the Company’s closing stock price of $102.35 at August 31, 2013 and the exercise price multiplied by the number of options exercisable as of that date. The total pre-tax intrinsic value of stock options exercised during fiscal 2013, 2012 and 2011 was $99.1 million, $43.0 million, and $71.3 million, respectively. | ||||||||||||||||||||||||||||||
Performance-based Stock Options | ||||||||||||||||||||||||||||||
Performance-based stock options require management to make assumptions regarding the likelihood of achieving Company performance targets. The number of performance-based options that vest will be predicated on the Company achieving performance levels for both organic ASV and diluted earnings per share during the two fiscal years subsequent to the date of grant. Dependent on the financial performance levels attained by FactSet during the two subsequent fiscal years, 0%, 20%, 60% or 100% of the performance-based stock options will vest to the grantees of those stock options. However, there is no current guarantee that such options will vest in whole or in part. | ||||||||||||||||||||||||||||||
November 2010 Annual Employee Performance-based Option Grant Review | ||||||||||||||||||||||||||||||
In November 2010, FactSet granted 734,334 performance-based employee stock options. None of these performance-based stock options granted vested because the Company did not achieve certain performance levels for both organic ASV and diluted earnings per share during the two fiscal years ended August 31, 2012. This reflected a lower performance level than previously estimated and accordingly decreased the number of options that will vest to zero, which required FactSet to reverse $1.4 million of stock-based compensation during fiscal 2012. These performance-based options were recorded as forfeitures in fiscal 2012. | ||||||||||||||||||||||||||||||
November 2011 Annual Employee Performance-based Option Grant Review | ||||||||||||||||||||||||||||||
In November 2011, FactSet granted 665,551 performance-based employee stock options. None of these performance-based stock options vested because the Company did not achieve certain performance levels for both organic ASV and diluted earnings per share during the two fiscal years ended August 31, 2013.These performance-based options were recorded as forfeitures in the fourth quarter of fiscal 2013. | ||||||||||||||||||||||||||||||
November 2012 Annual Employee Performance-based Option Grant Review | ||||||||||||||||||||||||||||||
In November 2012, FactSet granted 1,011,510 performance-based employee stock options. The number of performance-based options that vest is based on the Company achieving performance levels for both organic ASV and diluted earnings per share during the two fiscal years ended August 31, 2014. At August 31, 2013, FactSet estimated that 20% or 202,302 of the performance-based stock options would vest which results in unamortized stock-based compensation expense of $3.6 million to be recognized over the remaining vesting period. However, a change in the actual financial performance levels achieved during fiscal 2014 could result in the following changes to the Company’s current estimate of the vesting percentage and related expense (in thousands): | ||||||||||||||||||||||||||||||
Vesting | Total Unamortized Stock-based | Cumulative Catch-up | Average Remaining Quarterly | |||||||||||||||||||||||||||
Percentage | Compensation Expense at August 31, 2013 | Adjustment* | Expense to be Recognized | |||||||||||||||||||||||||||
0% | $ | 0 | $ | (1,192 | ) | $ | 0 | |||||||||||||||||||||||
20% | $ | 3,556 | $ | 0 | $ | 213 | ||||||||||||||||||||||||
60% | $ | 10,668 | $ | 2,384 | $ | 639 | ||||||||||||||||||||||||
100% | $ | 17,780 | $ | 4,768 | $ | 1,065 | ||||||||||||||||||||||||
* Amounts represent the cumulative catch-up adjustment to be recorded if there was a change in the vesting percentage as of August 31, 2013. | ||||||||||||||||||||||||||||||
July 2012 Performance-based Option Grant Review | ||||||||||||||||||||||||||||||
In July 2012, FactSet granted 241,546 performance-based employee stock options, which are eligible to vest in 20% tranches depending upon future StreetAccount user growth through August 31, 2017. During the fourth quarter of fiscal 2013, the StreetAccount business accelerated to achieve the first usage growth target established on the date of grant, thus the first 20% or 48,314 options vested on August 31, 2013. In addition, due to the accelerated fourth quarter growth and forecasted future usage growth, the Company estimated that the second 20% tranche will vest by August 31, 2017. This reflected a higher performance level than previously estimated and accordingly increased the number of options that will vest to a total 40%, which required FactSet to record a pre-tax stock-based compensation charge of $2.6 million in the fourth quarter of fiscal 2013. The change in estimate also results in unamortized stock-based compensation expense of $1.2 million to be recognized over the remaining vesting period of 4.0 years. A change, up or down, in the actual financial performance levels achieved by StreetAccount in future fiscal years could result in the following changes to the current estimate of the vesting percentage and related expense (in thousands): | ||||||||||||||||||||||||||||||
Vesting | Cumulative | Remaining Expense | ||||||||||||||||||||||||||||
Tranche | Catch-up Adjustment** | to be Recognized | ||||||||||||||||||||||||||||
First 20%* | n/a | n/a* | ||||||||||||||||||||||||||||
Second 20% | $ | (361 | ) | $ | 0 | |||||||||||||||||||||||||
Third 20% | $ | 448 | $ | 2,391 | ||||||||||||||||||||||||||
Fourth 20% | $ | 848 | $ | 3,591 | ||||||||||||||||||||||||||
Fifth 20% | $ | 1,358 | $ | 4,681 | ||||||||||||||||||||||||||
* The first 20% of the grant vested during fiscal 2013, and as such, there is no remaining expense to be recognized as of August 31, 2013. | ||||||||||||||||||||||||||||||
** Amounts represent the cumulative catch-up adjustment to be recorded if there was a change in the vesting percentage as of August 31, 2013. | ||||||||||||||||||||||||||||||
Market Metrics Performance-based Option Grant | ||||||||||||||||||||||||||||||
In connection with the acquisition of the Market Metrics business in June 2010, the Company granted 746,415 performance-based stock options, which would vest only if accelerated stretch revenue targets were achieved related to the Market Metrics business and option holders remain employed by us. These options vested in the second quarter of fiscal 2013 when the Market Metrics business accelerated to achieve the stretch revenue growth targets established on the date of grant, resulting in a pre-tax stock-based compensation charge of $15.7 million. The pre-tax stock-based compensation charge of $15.7 million, recorded in the second quarter of fiscal 2013, was equal to the grant-date fair value of the stock options awarded at the time of the acquisition and represented a cumulative adjustment from a change in the vesting based on achieving the accelerated revenue targets. At August 31, 2013, none of these performance-based stock options remain unvested. | ||||||||||||||||||||||||||||||
Other Performance-based Option Grants | ||||||||||||||||||||||||||||||
FactSet granted 229,635 performance-based employee stock options between January 2011 and July 2011 that vest based on achieving certain ASV targets. Of this total, 133,958 vested during fiscal 2012, 53,285 vested during fiscal 2013 and 9,301 were forfeited due to employee terminations. At August 31, 2013, the Company estimates that 7,964 of these performance-based stock options will vest based on forecasted ASV growth, resulting in unamortized stock-based compensation expense of $0.1 million to be recognized over the remaining vesting period. The remaining 25,127 performance-based stock options outstanding are expected to be forfeited. | ||||||||||||||||||||||||||||||
Restricted Stock and Stock Unit Awards | ||||||||||||||||||||||||||||||
The Company’s option plans permit the issuance of restricted stock and restricted stock units. Restricted stock awards are subject to continued employment over a specified period. A summary of restricted stock award activity is as follows (in thousands, except per award data): | ||||||||||||||||||||||||||||||
Number | Weighted Average Grant | |||||||||||||||||||||||||||||
Outstanding | Date Fair Value Per Award | |||||||||||||||||||||||||||||
Balance at August 31, 2010 | 261 | $ | 61.65 | |||||||||||||||||||||||||||
Granted (restricted stock and stock units) | 154 | $ | 87.55 | |||||||||||||||||||||||||||
Vested | - | $ | - | |||||||||||||||||||||||||||
Canceled/forfeited | (8 | ) | $ | 69.41 | ||||||||||||||||||||||||||
Balance at August 31, 2011 | 407 | $ | 71.31 | |||||||||||||||||||||||||||
Granted (restricted stock and stock units) | - | $ | - | |||||||||||||||||||||||||||
Vested* | (14 | ) | $ | 69.02 | ||||||||||||||||||||||||||
Canceled/forfeited | (10 | ) | $ | 77.13 | ||||||||||||||||||||||||||
Balance at August 31, 2012 | 383 | $ | 71.34 | |||||||||||||||||||||||||||
Granted (restricted stock and stock units) | 132 | $ | 85.8 | |||||||||||||||||||||||||||
Vested** | (150 | ) | $ | 62.34 | ||||||||||||||||||||||||||
Canceled/forfeited | (7 | ) | $ | 81.38 | ||||||||||||||||||||||||||
Balance at August 31, 2013 | 358 | $ | 80.43 | |||||||||||||||||||||||||||
* Between June 2010 and July 2011, FactSet granted 21,102 restricted stock units which entitled the holder to shares of common stock as the awards vest. A restricted stock unit is a promise to deliver shares to the employee at a future date if certain vesting conditions are met. These restricted stock units are performance-based and cliff vest 25% when certain ASV targets are met. Of the total 21,102 units granted, 14,258 units vested during the fourth quarter of fiscal 2012 because FactSet achieved three of the four ASV growth targets. | ||||||||||||||||||||||||||||||
**Of the total 149,741 restricted stock awards that vested during fiscal 2013, 87,758 related to awards granted on October 23, 2009. These restricted stock awards cliff vested 60% after three years (on October 23, 2012) and the remaining 40% will vest after five years (on October 23, 2014). An additional 55,572 awards that vested in fiscal 2013 related to awards granted on February 9, 2010 at a price of $63.09. These restricted stock awards cliff vested 100% after three years (on February 9, 2013). The remaining 6,411 restricted stock awards that vested were previously granted between June 2010 and July 2011 and vesting occurred when certain ASV targets were met in fiscal 2013. | ||||||||||||||||||||||||||||||
April 2013 Employee Restricted Stock Award | ||||||||||||||||||||||||||||||
In April 2013, the Company granted 131,702 restricted stock units with a fair value of $85.80, which entitle the holder to shares of common stock as the awards vest over time. The Company’s restricted stock units cliff vest 20% annually upon each anniversary date of the grant. As of August 31, 2013, unamortized stock-based compensation expense of $10.4 million is to be amortized ratably to compensation expense over the remaining vesting period of 4.6 years. | ||||||||||||||||||||||||||||||
Share-based Awards Available for Grant | ||||||||||||||||||||||||||||||
A summary of share-based awards available for grant is as follows (in thousands): | ||||||||||||||||||||||||||||||
Share-based Awards | Share-based Awards | |||||||||||||||||||||||||||||
Available for Grant under | Available for Grant under | |||||||||||||||||||||||||||||
Employee Stock Option Plans | Non-Employee Stock Option Plans | |||||||||||||||||||||||||||||
Balance at August 31, 2010 | 2,216 | 162 | ||||||||||||||||||||||||||||
Amendment to the 2004 Stock Option and Award Plan to increase the number of shares available for issuance** | 4,000 | - | ||||||||||||||||||||||||||||
Granted – non performance-based options | (91 | ) | - | |||||||||||||||||||||||||||
Granted – performance-based options | (892 | ) | - | |||||||||||||||||||||||||||
Granted – non-employee Directors grant | - | (15 | ) | |||||||||||||||||||||||||||
Restricted stock awards granted* | (386 | ) | - | |||||||||||||||||||||||||||
Share-based awards canceled/forfeited | 130 | - | ||||||||||||||||||||||||||||
Balance at August 31, 2011 | 4,977 | 147 | ||||||||||||||||||||||||||||
Granted – non performance-based options | (540 | ) | - | |||||||||||||||||||||||||||
Granted – performance-based options | (907 | ) | - | |||||||||||||||||||||||||||
Granted – non-employee Directors grant | - | (21 | ) | |||||||||||||||||||||||||||
Restricted stock awards granted* | - | - | ||||||||||||||||||||||||||||
Share-based awards canceled/forfeited | 810 | - | ||||||||||||||||||||||||||||
Balance at August 31, 2012 | 4,340 | 126 | ||||||||||||||||||||||||||||
Granted – non performance-based options | (645 | ) | - | |||||||||||||||||||||||||||
Granted – performance-based options | (1,011 | ) | - | |||||||||||||||||||||||||||
Granted – non-employee Directors grant | - | (19 | ) | |||||||||||||||||||||||||||
Restricted stock awards granted* | (329 | ) | - | |||||||||||||||||||||||||||
Share-based awards canceled/forfeited | 761 | - | ||||||||||||||||||||||||||||
Balance at August 31, 2013 | 3,116 | 107 | ||||||||||||||||||||||||||||
* Under the Company’s option plan, for each restricted stock award granted/canceled/forfeited, an equivalent of 2.5 shares is added back to the available share-based awards balance. | ||||||||||||||||||||||||||||||
** As of November 30, 2010, 1.0 million shares remained available for future grant of share-based awards under the Company’s 2004 Stock Option and Award Plan, a number that the Company believed to be insufficient to meet its anticipated needs over the next 12 to 18 months. Therefore, the Company’s Board of Directors approved an amendment to increase the maximum number of shares of FactSet common stock issuable under the 2004 Stock Option and Award Plan by 4,000,000 shares. The stockholders of FactSet approved the Amended and Restated FactSet Research Systems Inc. 2004 Stock Option and Award Plan at the Company’s annual meeting held on December 14, 2010, including the reservation of an additional 4,000,000 shares of common stock for issuance. | ||||||||||||||||||||||||||||||
Employee Stock Purchase Plan | ||||||||||||||||||||||||||||||
On December 16, 2008, the Company’s stockholders ratified the adoption of the FactSet Research Systems Inc. 2008 Employee Stock Purchase Plan (the “Purchase Plan”). A total of 500,000 shares have been reserved for issuance under the Purchase Plan. There is no expiration date for the Purchase Plan. Shares of FactSet common stock may be purchased by eligible employees under the Purchase Plan in three-month intervals at a purchase price equal to at least 85% of the lesser of the fair market value of the Company’s common stock on either the first day or the last day of each three-month offering period. Employee purchases may not exceed 10% of their gross compensation during an offering period. During fiscal 2013, employees purchased 75,281 shares as compared to 85,487 shares in fiscal 2012 and 75,718 shares in fiscal 2011. At August 31, 2013, 119,770 shares were reserved for future issuance under the Purchase Plan. | ||||||||||||||||||||||||||||||
401(k) Plan | ||||||||||||||||||||||||||||||
The Company established a 401(k) Plan (the “401(k) Plan”) in fiscal 1993. The 401(k) Plan is a defined contribution plan covering all full-time, U.S. employees of the Company and is subject to the provisions of the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1986. Each year, participants may contribute up to 60% of their eligible annual compensation, subject to annual limitations established by the Internal Revenue Code. The Company matches up to 4% of employees’ earnings, capped at the IRS annual maximum. Company matching contributions are subject to a five year graduated vesting schedule. All full-time, U.S. employees are eligible for the matching contribution by the Company. The Company contributed $7.5 million, $6.7 million, and $5.9 million in matching contributions to employee 401(k) accounts during fiscal 2013, 2012 and 2011, respectively. |
Note_14_StockBased_Compensatio
Note 14 - Stock-Based Compensation | 12 Months Ended | |||||||||||||||
Aug. 31, 2013 | ||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 14. STOCK-BASED COMPENSATION | |||||||||||||||
The Company recognized total stock-based compensation expense of $40.0 million, $22.0 million, and $25.8 million in fiscal 2013, 2012, and 2011, respectively. | ||||||||||||||||
Stock-based compensation expense for the year ended August 31, 2013 includes pre-tax charges totaling $18.3 million related to the vesting of performance-based stock options granted in connection with the acquisitions of Market Metrics and StreetAccount. These performance-based options vested in the second and fourth quarters of fiscal 2013, respectively, when each acquired business accelerated to achieve stretch growth targets established on the date of grant. Included in fiscal 2011 was a pre-tax stock-based compensation charge of $7.9 million from an increase in the estimated number of performance-based options that will vest due to accelerating levels of ASV and diluted EPS than previously expected. The revised estimate reflects a higher performance level than previously estimated and accordingly, increased the number of performance-based options that will vest and be expensed. | ||||||||||||||||
As of August 31, 2013, $50.3 million of total unrecognized compensation expense related to non-vested awards is expected to be recognized over a weighted average period of 3.5 years. As of August 31, 2012, $39.2 million of total unrecognized compensation expense related to non-vested awards is expected to be recognized over a weighted average period of 3.1 years. There was no stock-based compensation capitalized as of August 31, 2013 and 2012, respectively. | ||||||||||||||||
Employee Stock Option Fair Value Determinations | ||||||||||||||||
The Company utilizes the lattice-binomial option-pricing model (“binomial model”) to estimate the fair value of new employee stock option grants. The Company’s determination of fair value of stock option awards on the date of grant using the binomial model is affected by the Company’s stock price as well as assumptions regarding a number of variables. These variables include, but are not limited to the Company’s expected stock price volatility over the term of the awards, interest rates, option forfeitures and employee stock option exercise behaviors. | ||||||||||||||||
Fiscal 2013 | ||||||||||||||||
● | Q1 2013 – 635,308 non performance-based employee stock options and 1,011,510 performance-based employee stock options were granted at a weighted average exercise price of $92.22 and a weighted average estimated fair value of $26.87 per share. | |||||||||||||||
● | Q2 2013 – 9,367 non performance-based employee stock options were granted at a weighted average exercise price of $92.55 and a weighted average estimated fair value of $26.69 per share. | |||||||||||||||
● | Q3 2013 – There were no employee stock options granted during the third quarter. | |||||||||||||||
● | Q4 2013 – There were no employee stock options granted during the fourth quarter. | |||||||||||||||
Fiscal 2012 | ||||||||||||||||
● | Q1 2012 – 419,593 non performance-based employee stock options and 665,551 performance-based employee stock options were granted at a weighted average exercise price of $94.84 and a weighted average estimated fair value of $32.08 per share. | |||||||||||||||
● | Q2 2012 – There were no employee stock options granted during the second quarter. | |||||||||||||||
● | Q3 2012 – There were no employee stock options granted during the third quarter. | |||||||||||||||
● | Q4 2012 – 120,847 non performance-based employee stock options and 241,546 performance-based employee stock options were granted at a weighted average exercise price of $90.92 and fair value of $33.11 per share. | |||||||||||||||
Fiscal 2011 | ||||||||||||||||
● | Q1 2011 – 84,811 non performance-based employee stock options and 809,239 performance-based employee stock options were granted at a weighted average exercise price of $88.40 and fair value of $24.42 per share. | |||||||||||||||
● | Q2 2011 – 65,224 performance-based employee stock options were granted at a weighted average exercise price of $99.78 and fair value of $29.07 per share. | |||||||||||||||
● | Q3 2011 – 6,408 non performance-based employee stock options were granted at a weighted average exercise price of $103.30 and fair value of $23.41 per share. | |||||||||||||||
● | Q4 2011 – 17,842 performance-based employee stock options were granted at a weighted average exercise price of $96.10 and a weighted average estimated fair value of $28.02 per share. | |||||||||||||||
The weighted average estimated fair value of employee stock options granted during fiscal 2013, 2012 and 2011 was determined using the binomial model with the following weighted average assumptions: | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Term structure of risk-free interest rate | 0.16% | - | 1.91% | 0.13% | - | 2.41% | 0.18% | - | 1.88% | |||||||
Expected life (years) | 7.6 | - | 7.8 | 7.6 | - | 9.1 | 4.0 | - | 6.5 | |||||||
Term structure of volatility | 24% | - | 33% | 29% | - | 36% | 23% | - | 35% | |||||||
Dividend yield | 1.30% | 1.16% | 1.25% | |||||||||||||
Weighted average estimated fair value | $26.87 | $32.34 | $24.78 | |||||||||||||
Weighted average exercise price | $92.22 | $93.86 | $89.39 | |||||||||||||
Fair value as a percentage of exercise price | 29.10% | 34.50% | 27.70% | |||||||||||||
The risk-free interest rate assumption for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. Expected volatility is based on a combination of historical volatility of the Company’s stock and implied volatilities of publicly traded options to buy FactSet common stock with contractual terms closest to the expected life of options granted to employees. The approach to utilize a mix of historical and implied volatility was based upon the availability of actively traded options on the Company’s stock and the Company’s assessment that a combination of implied volatility and historical volatility is best representative of future stock price trends. The Company uses historical data to estimate option exercises and employee termination within the valuation model. The dividend yield assumption is based on the Company’s history and expectation of dividend payouts. The expected life of employee stock options represents the weighted average period the stock options are expected to remain outstanding and is a derived output of the binomial model. The binomial model estimates employees exercise behavior is based on the option’s remaining vested life and the extent to which the option is in-the-money. The binomial model estimates the probability of exercise as a function of these two variables based on the entire history of exercises and cancellations of all past option grants made by the Company. | ||||||||||||||||
Non-Employee Director Stock Option Fair Value Determinations | ||||||||||||||||
The 2008 Non-Employee Directors’ Stock Option Plan (the “Directors’ Plan”) provides for the grant of share-based awards, including stock options, to non-employee directors of FactSet. A total of 250,000 shares of FactSet common stock have been reserved for issuance under the Directors’ Plan. The expiration date of the Directors’ Plan is December 1, 2018. | ||||||||||||||||
The Company utilizes the Black-Scholes model to estimate the fair value of new non-employee Director stock option grants. The Company’s determination of fair value of share-based payment awards on the date of grant is affected by the Company’s stock price as well as assumptions regarding a number of variables. These variables include, but are not limited to the Company’s expected stock price volatility over the term of the awards, interest rates, option forfeitures and employee stock option exercise behaviors. | ||||||||||||||||
Fiscal 2013 | ||||||||||||||||
On January 15, 2013, FactSet granted 18,781 stock options to the Company’s non-employee Directors at a weighted average estimated fair value of $24.23 per share, using the Black-Scholes option-pricing model with the following weighted average assumptions: | ||||||||||||||||
Risk-free interest rate | 0.89 | % | ||||||||||||||
Expected life (years) | 5.4 | |||||||||||||||
Expected volatility | 32 | % | ||||||||||||||
Dividend yield | 1.3 | % | ||||||||||||||
Fiscal 2012 | ||||||||||||||||
On January 13, 2012, FactSet granted 20,976 stock options to the Company’s non-employee Directors, including a one-time new Director grant of 5,244 stock options for Robin A. Abrams, who was elected to FactSet’s Board of Directors on December 13, 2011. All of the options granted on January 13, 2012 have a weighted average estimated fair value of $24.79 per share, using the Black-Scholes option-pricing model with the following weighted average assumptions: | ||||||||||||||||
Risk-free interest rate | 0.94 | % | ||||||||||||||
Expected life (years) | 5.4 | |||||||||||||||
Expected volatility | 34 | % | ||||||||||||||
Dividend yield | 1.11 | % | ||||||||||||||
Fiscal 2011 | ||||||||||||||||
On January 14, 2011, 14,514 stock options were granted to the Company’s non-employee Directors with a weighted average estimated fair value of $26.87 per share, using the Black-Scholes option-pricing model with the following weighted average assumptions: | ||||||||||||||||
Risk-free interest rate | 2.13 | % | ||||||||||||||
Expected life (years) | 5.4 | |||||||||||||||
Expected volatility | 31 | % | ||||||||||||||
Dividend yield | 1.18 | % | ||||||||||||||
The risk-free interest rate assumption for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. Expected volatility is based on the historical volatility of the Company’s stock. The Company uses historical data to estimate option exercises and non-employee director terminations within the valuation model. The dividend yield assumption is based on the Company’s history and expectation of dividend payouts. | ||||||||||||||||
Restricted Stock Fair Value Determinations | ||||||||||||||||
Restricted stock granted to employees entitle the holder to shares of common stock as the award vests over time, but not to dividends declared on the underlying shares while the restricted stock is unvested. The grant date fair value of restricted stock awards are measured by reducing the grant date price of FactSet’s share by the present value of the dividends expected to be paid on the underlying stock during the requisite service period, discounted at the appropriate risk-free interest rate. Restricted stock awards are amortized to expense over the vesting period. | ||||||||||||||||
Fiscal 2013 | ||||||||||||||||
● | 131,702 restricted stock units granted on April 8, 2013 with a fair value of $85.80. | |||||||||||||||
Fiscal 2012 | ||||||||||||||||
● | There were no restricted stocks awards granted during fiscal 2012. | |||||||||||||||
Fiscal 2011 | ||||||||||||||||
● | 117,723 shares of restricted stock with a fair value of $84.38 were granted on November 8, 2010. | |||||||||||||||
● | 3,291 restricted stock units with a fair value of $83.49 were granted on November 8, 2010. | |||||||||||||||
● | 366 shares of restricted stock with a fair value of $95.24 were granted on January 27, 2011. | |||||||||||||||
● | 1,719 restricted stock units with a fair value of $94.50 were granted on January 27, 2011. | |||||||||||||||
● | 30,090 shares of restricted stock with a fair value of $99.75 were granted on April 14, 2011. | |||||||||||||||
● | 1,092 restricted stock units with a fair value of $91.54 were granted on July 22, 2011. | |||||||||||||||
Employee Stock Purchase Plan Fair Value Determinations | ||||||||||||||||
During fiscal 2013, employees purchased 75,281 shares at a weighted average price of $80.77 as compared to 85,487 shares at a weighted average price of $75.20 in fiscal 2012 and 75,718 shares at a weighted average price of $75.36 in fiscal 2011. Stock-based compensation expense recorded during fiscal 2013, 2012, and 2011 relating to the employee stock purchase plan was $1.2 million, $1.3 million and $1.1 million, respectively. | ||||||||||||||||
The Company uses the Black-Scholes model to calculate the estimated fair value for the employee stock purchase plan. The weighted average estimated fair value of employee stock purchase plan grants during fiscal years 2013, 2012 and 2011 were $15.79, $16.09, and $15.99 per share, respectively, with the following weighted average assumptions: | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Risk-free interest rate | 0.07 | % | 0.06 | % | 0.1 | % | ||||||||||
Expected life (months) | 3 | 3 | 3 | |||||||||||||
Expected volatility | 9.8 | % | 14.8 | % | 11.9 | % | ||||||||||
Dividend yield | 1.38 | % | 1.26 | % | 1.04 | % | ||||||||||
Accuracy of Fair Value Estimates | ||||||||||||||||
The Company is responsible for determining the assumptions used in estimating the fair value of its share-based payment awards. The Company’s determination of fair value of share-based payment awards on the date of grant using an option-pricing model is affected by the Company’s stock price as well as assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to the Company’s expected stock price volatility over the term of the awards, interest rates, option forfeiture rates and actual and projected employee stock option exercise behaviors. Option-pricing models were developed for use in estimating the value of traded options that have no vesting or hedging restrictions and are fully transferable. |
Note_15_Income_Taxes
Note 15 - Income Taxes | 12 Months Ended | ||||||||||||
Aug. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||
Income Tax Disclosure [Text Block] | 15. INCOME TAXES | ||||||||||||
Income tax expense is based on taxable income determined in accordance with current enacted laws and tax rates. Deferred income taxes are recorded for the temporary differences between the financial statement and tax bases of assets and liabilities using currently enacted tax rates. | |||||||||||||
Provision for Income Taxes | |||||||||||||
The provision for income taxes is as follows (in thousands): | |||||||||||||
Years Ended August 31, | 2013 | 2012 | 2011 | ||||||||||
U.S. operations | $ | 220,778 | $ | 229,772 | $ | 198,688 | |||||||
Non-U.S. operations | 50,132 | 44,933 | 40,270 | ||||||||||
Income before income taxes | $ | 270,910 | $ | 274,705 | $ | 238,958 | |||||||
U.S. operations | $ | 61,328 | $ | 76,020 | $ | 58,125 | |||||||
Non-U.S. operations | 10,945 | 9,876 | 9,787 | ||||||||||
Total provision for income taxes | $ | 72,273 | * | $ | 85,896 | $ | 67,912 | ** | |||||
Effective tax rate | 26.7 | %* | 31.3 | % | 28.4 | %** | |||||||
* Includes income tax benefits of $7.2 million primarily from the reenactment of the U.S. Federal R&D tax credit in January 2013 and the finalization of the fiscal 2012 tax return. The reenactment of the credit was retroactive to January 1, 2012 and extends through the end of the 2013 calendar year. The fiscal 2013 annual effective tax rate before discrete items of $7.2 million was 28.9%. | |||||||||||||
** Includes income tax benefits of $6.3 million from the finalization of the fiscal 2010 tax return and the reenactment of the U.S. Federal R&D tax credit in December 2010. The fiscal 2011 annual effective tax rate before discrete items of $6.3 million was 30.9%. | |||||||||||||
The components of the provision for income taxes consist of the following (in thousands): | |||||||||||||
Years Ended August 31, | 2013 | 2012 | 2011 | ||||||||||
Current | |||||||||||||
U.S. federal | $ | 52,625 | $ | 73,272 | $ | 53,925 | |||||||
U.S. state and local | 3,309 | 4,305 | 4,833 | ||||||||||
Non-U.S. | 11,188 | 10,224 | 10,728 | ||||||||||
Total current taxes | $ | 67,122 | $ | 87,801 | $ | 69,486 | |||||||
Deferred | |||||||||||||
U.S. federal | $ | 5,036 | $ | (1,405 | ) | $ | (606 | ) | |||||
U.S. state and local | 358 | (152 | ) | (27 | ) | ||||||||
Non-U.S. | (243 | ) | (348 | ) | (941 | ) | |||||||
Total deferred taxes | $ | 5,151 | $ | (1,905 | ) | $ | (1,574 | ) | |||||
Total provision for income taxes | $ | 72,273 | $ | 85,896 | $ | 67,912 | |||||||
The provision for income taxes differs from the amount of income tax determined by applying the U.S. statutory federal income tax rate to income before income taxes as a result of the following factors (expressed as a percentage of income before income taxes): | |||||||||||||
Years Ended August 31, | 2013 | 2012 | 2011 | ||||||||||
Tax at federal U.S. statutory tax rate | 35 | % | 35 | % | 35 | % | |||||||
Increase (decrease) in taxes resulting from: | |||||||||||||
State and local taxes, net of U.S. federal income tax benefit | 2 | 2.1 | 2.2 | ||||||||||
Foreign income at other than U.S. rates | (2.5 | ) | (1.9 | ) | (1.7 | ) | |||||||
Domestic production activities (Section 199) deduction | (2.6 | ) | (2.6 | ) | (2.1 | ) | |||||||
Income tax benefit from R&D tax credits | (4.1 | ) | (0.8 | ) | (4.9 | ) | |||||||
Income tax benefits from foreign tax credits | (1.2 | ) | (0.5 | ) | (0.7 | ) | |||||||
Other, net | 0.1 | 0 | 0.6 | ||||||||||
Effective tax rate | 26.7 | % | 31.3 | % | 28.4 | % | |||||||
Deferred Tax Assets and Liabilities | |||||||||||||
The significant components of deferred tax assets that are recorded in the Consolidated Balance Sheets were as follows (in thousands): | |||||||||||||
At August 31, | 2013 | 2012 | |||||||||||
Deferred tax assets | |||||||||||||
Current | |||||||||||||
Receivable reserve | $ | 614 | $ | 687 | |||||||||
Deferred rent | 2,191 | 3,175 | |||||||||||
Deferred fees | (2 | ) | 1,223 | ||||||||||
Net current deferred taxes | $ | 2,803 | $ | 5,085 | |||||||||
Non-current | |||||||||||||
Depreciation on property, equipment and leasehold improvements | $ | 6,329 | $ | 2,498 | |||||||||
Deferred rent | 2,772 | 2,782 | |||||||||||
Stock-based compensation | 19,828 | 23,395 | |||||||||||
Purchased intangible assets, including acquired technology | (8,401 | ) | (6,801 | ) | |||||||||
Other | 1,495 | 1,239 | |||||||||||
Net non-current deferred taxes | $ | 22,023 | $ | 23,113 | |||||||||
Total deferred tax assets | $ | 24,826 | $ | 28,198 | |||||||||
The significant components of deferred tax liabilities that are recorded in the Consolidated Balance Sheets were as follows (in thousands): | |||||||||||||
At August 31, | 2013 | 2012 | |||||||||||
Deferred tax liabilities (non-current) | |||||||||||||
Purchased intangible assets, including acquired technology | $ | 2,761 | $ | 2,936 | |||||||||
Stock-based compensation | (365 | ) | (343 | ) | |||||||||
Total deferred tax liabilities (non-current) | $ | 2,396 | $ | 2,593 | |||||||||
With the exception of the Company’s UK and French subsidiaries, a provision has not been made for additional U.S. Federal taxes as of August 31, 2013 on undistributed earnings of foreign subsidiaries because FactSet intends to reinvest these funds indefinitely to support foreign growth opportunities. The amount of such undistributed earnings of foreign subsidiaries included in consolidated retained earnings was immaterial at August 31, 2013 and 2012. As such, the unrecognized deferred tax liability on those undistributed earnings was immaterial. These earnings could become subject to additional tax if they are remitted as dividends, loaned to FactSet, or upon sale of the subsidiary’s stock. | |||||||||||||
Unrecognized Tax Positions | |||||||||||||
Applicable accounting guidance prescribes a comprehensive model for the financial statement recognition, measurement, classification and disclosure of uncertain tax positions that a company has taken or expects to take on a tax return. A company can recognize the financial effect of an income tax position only if it is more likely than not (greater than 50%) that the tax position will prevail upon tax examination, based solely on the technical merits of the tax position. Otherwise, no benefit or expense can be recognized in the consolidated financial statements. The tax benefits recognized are measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. Additionally, companies are required to accrue interest and related penalties, if applicable, on all tax exposures for which reserves have been established consistent with jurisdictional tax laws. | |||||||||||||
As of August 31, 2013, the Company had gross unrecognized tax benefits totaling $5.4 million, including $1.0 million of accrued interest, recorded as non-current taxes payable in the consolidated balance sheet. Unrecognized tax benefits represent tax positions taken on tax returns but not yet recognized in the consolidated financial statements. When applicable, the Company adjusts the previously recorded tax expense to reflect examination results when the position is effectively settled. The Company regularly engages in discussions and negotiations with tax authorities regarding tax matters in various jurisdictions. It is reasonably possible that certain federal, foreign, and state tax matters may be concluded in the next 12 months. However, FactSet has no reason to believe that such audits will result in the payment of additional taxes and/or penalties that would have a material adverse effect on the Company’s results of operations or financial position, beyond current estimates. Any changes in accounting estimates resulting from new developments with respect to uncertain tax positions will be recorded as appropriate. The Company does not currently anticipate that the total amounts of unrecognized tax benefits will significantly change within the next 12 months. | |||||||||||||
The following table summarizes the changes in the balance of gross unrecognized tax benefits (in thousands): | |||||||||||||
Unrecognized income tax benefits at August 31, 2010 | $ | 7,346 | |||||||||||
Additions based on tax positions related to the current year | 1,258 | ||||||||||||
Additions for tax positions of prior years | 1,493 | ||||||||||||
Statute of limitations lapse | (964 | ) | |||||||||||
Reductions from settlements with taxing authorities | (1,929 | ) | |||||||||||
Unrecognized income tax benefits at August 31, 2011 | $ | 7,204 | |||||||||||
Additions based on tax positions related to the current year | 691 | ||||||||||||
Additions for tax positions of prior years | 470 | ||||||||||||
Statute of limitations lapse | (613 | ) | |||||||||||
Reductions from settlements with taxing authorities | (2,288 | ) | |||||||||||
Unrecognized income tax benefits at August 31, 2012 | $ | 5,464 | |||||||||||
Additions based on tax positions related to the current year | 1,372 | ||||||||||||
Additions for tax positions of prior years | 986 | ||||||||||||
Statute of limitations lapse | (1,103 | ) | |||||||||||
Reductions from settlements with taxing authorities | (1,284 | ) | |||||||||||
Unrecognized income tax benefits at August 31, 2013 | $ | 5,435 | |||||||||||
In the normal course of business, the Company’s tax filings are subject to audit by federal, state and foreign tax authorities. At August 31, 2013, the Company remained subject to examination in the following major tax jurisdictions for the tax years as indicated below: | |||||||||||||
Major Tax Jurisdictions | Open Tax Years | ||||||||||||
U.S. | |||||||||||||
Federal | 2010 through 2013 | ||||||||||||
State (various) | 2010 through 2013 | ||||||||||||
Europe | |||||||||||||
France | 2010 through 2013 | ||||||||||||
United Kingdom | 2011 through 2013 | ||||||||||||
Note_16_Commitments_and_Contin
Note 16 - Commitments and Contingencies | 12 Months Ended | ||||
Aug. 31, 2013 | |||||
Commitments and Contingencies Disclosure [Abstract] | |||||
Commitments and Contingencies Disclosure [Text Block] | 16. COMMITMENTS AND CONTINGENCIES | ||||
Commitments represent obligations, such as those for future purchases of goods or services that are not yet recorded on the balance sheet as liabilities. FactSet records liabilities for commitments when incurred (i.e., when the goods or services are received). | |||||
Lease Commitments | |||||
At August 31, 2013, the Company leases approximately 193,000 square feet of office space at its headquarters in Norwalk, Connecticut. In addition, FactSet leases office space for its U.S. reportable segment in New York, New York; Boston, Massachusetts; Chicago, Illinois; San Francisco and San Mateo, California; Austin, Texas; Jackson, Wyoming; Atlanta, Georgia; Tuscaloosa, Alabama; Newark, Ridgewood and Piscataway, New Jersey; Manchester, New Hampshire; and Reston, Virginia. The Company’s European segment operates in leased office space in London, England; Paris and Avon, France; Amsterdam, the Netherlands; Frankfurt, Germany; Dubai, United Arab Emirates; Milan, Italy; and Riga, Latvia. Office space in Tokyo, Japan; Hong Kong; Mumbai, India; and Sydney, Australia are leased by FactSet for its Asia Pacific operating segment. The data content collection centers located in Hyderabad, India and Manila, the Philippines benefit all of the Company’s operating segments. The leases expire on various dates through 2024. Total minimum rental payments associated with the leases are recorded as rent expense (a component of selling, general and administrative expenses) on a straight-line basis over the periods of the respective non-cancelable lease terms. Including new lease agreements entered into during fiscal 2013, the Company’s worldwide leased office space increased to approximately 809,000 square feet at August 31, 2013, up 2,000 square feet or 0.3% from August 31, 2012. The Company believes that its leased office space is adequate for its current needs and that additional space is available for lease to meet any future needs. | |||||
During fiscal 2013, 2012 and 2011, rent expense (including operating costs) for all operating leases amounted to approximately $36.2 million, $34.6 million, and $32.8 million, respectively. Approximately $2.2 million of standby letters of credit have been issued during the ordinary course of business in connection with the Company’s current leased office space as of August 31, 2013. These standby letters of credit contain covenants that, among other things, require FactSet to maintain minimum levels of consolidated net worth and certain leverage and fixed charge ratios. As of August 31, 2013 and 2012, FactSet was in compliance with all covenants contained in the standby letters of credit. | |||||
At August 31, 2013, the Company’s lease commitments for office space provide for the following future minimum rental payments under non-cancelable operating leases with remaining terms in excess of one year (in thousands): | |||||
Years Ended August 31, | Minimum Lease | ||||
Payments | |||||
2014 | $ | 27,662 | |||
2015 | 23,621 | ||||
2016 | 17,684 | ||||
2017 | 16,359 | ||||
2018 | 15,434 | ||||
Thereafter | 29,092 | ||||
Total | $ | 129,852 | |||
Purchase Commitments with Suppliers | |||||
Purchase obligations represent payments due in future periods in respect of commitments to the Company’s various data vendors as well as commitments to purchase goods and services such as telecommunication and computer maintenance services. These purchase commitments are agreements that are enforceable and legally binding on FactSet and that specify all significant terms, including: fixed or minimum quantities to be purchased; fixed, minimum or variable price provisions; and the approximate timing of the transaction. As of August 31, 2013 and 2012, the Company had total purchase commitments with suppliers of $50.2 million and $52.2 million, respectively. | |||||
Contingencies | |||||
Legal Matters | |||||
FactSet accrues non income-tax liabilities for contingencies when management believes that a loss is probable and the amounts can be reasonably estimated, while contingent gains are recognized only when realized. The Company is subject to legal proceedings, claims, and litigation arising in the ordinary course of business, including intellectual property litigation. Based on information available, FactSet’s management does not believe that the ultimate outcome of these unresolved matters against the Company, individually or in the aggregate, is likely to have a material adverse effect on the Company's consolidated financial position, its results of operations or its cash flows. | |||||
Income Taxes | |||||
Uncertain income tax positions are accounted for in accordance with applicable accounting guidance (see Note 15). FactSet is currently under audit by multiple tax authorities. The Company has reserved for potential adjustments to its provision for income taxes that may result from examinations by, or any negotiated agreements with, these tax authorities, and the Company believes that the final outcome of these examinations or agreements will not have a material effect on its results of operations. If events occur which indicate payment of these amounts is unnecessary, the reversal of the liabilities would result in the recognition of tax benefits in the period FactSet determines the liabilities are no longer necessary. If the Company’s estimates of the federal, state, and foreign income tax liabilities are less than the ultimate assessment, a further charge to expense would result. | |||||
Indemnifications | |||||
As permitted or required under Delaware law and to the maximum extent allowable under that law, FactSet has certain obligations to indemnify its current and former officers and directors for certain events or occurrences while the officer or director is, or was serving, at FactSet’s request in such capacity. These indemnification obligations are valid as long as the director or officer acted in good faith and in a manner the person reasonably believed to be in or not opposed to the best interests of the Company, and with respect to any criminal action or proceeding, had no reasonable cause to believe his or her conduct was unlawful. The maximum potential amount of future payments FactSet could be required to make under these indemnification obligations is unlimited; however, FactSet has a director and officer insurance policy that it believes mitigates FactSet's exposure and may enable FactSet to recover a portion of any future amounts paid. The Company believes the estimated fair value of these indemnification obligations is immaterial. |
Note_17_Risks_and_Concentratio
Note 17 - Risks and Concentrations of Credit Risk | 12 Months Ended |
Aug. 31, 2013 | |
Risks and Uncertainties [Abstract] | |
Concentration Risk Disclosure [Text Block] | 17. RISKS AND CONCENTRATIONS OF CREDIT RISK |
Financial Risk Management | |
Foreign Currency Exchange Risk | |
The Company is exposed to changes in foreign currency exchange rates, which could affect its operating results, financial position and cash flows. The Company’s primary foreign currency market exposures include the Euro, British Pound Sterling, Japanese Yen, Indian Rupee and Philippines Peso. The Company’s non-U.S. dollar denominated revenues expected to be recognized over the next twelve months are estimated to be $15 million while its non-U.S. dollar denominated expenses are $169 million, which translates into a net foreign currency exposure of $154 million per year. To the extent that FactSet’s international activities recorded in local currencies increase in the future, its exposure to fluctuations in currency exchange rates will correspondingly increase. FactSet manages its exposure to foreign currency exchange risk through its regular operating and financing activities and, when appropriate, through the use of derivative financial instruments. These derivative financial instruments are utilized to hedge currency exposures as well as to reduce earnings volatility resulting from shifts in market rates. FactSet only enters into foreign currency forward contracts to manage foreign currency exposures. The fair market values of all the Company’s derivative contracts change with fluctuations in currency rates and are designed so that any changes in their values are offset by changes in the values of the underlying exposures. See Note 5 to the Consolidated Financial Statements for additional analysis of the Company’s foreign currency exchange rate risk. | |
Interest Rate Risk | |
The fair market value of the Company’s cash and investments at August 31, 2013 was $209 million. FactSet’s cash and cash equivalents consist of demand deposits and money market funds with original maturities of three months or less and are reported at fair value. The Company’s investments consist of certificates of deposits with original maturities greater than three months, but less than one year and, as such, are reported as short-term investments. It is anticipated that the fair market value of the Company’s portfolio will continue to be immaterially affected by fluctuations in interest rates. Because FactSet has a restrictive investment policy, its financial exposure to fluctuations in interest rates is expected to remain low. The Company does not believe that the value or liquidity of its cash and investments have been significantly impacted by the recent credit crisis. | |
Current market events have not required the Company to modify materially or change its financial risk management strategies with respect to its exposures to foreign currency exchange risk and interest rate risk. | |
Concentrations of Credit Risk | |
Cash equivalents | |
Cash and cash equivalents are primarily maintained with two financial institutions. Deposits held with banks may exceed the amount of insurance provided on such deposits. These deposits may be redeemed upon demand and are maintained with financial institutions with reputable credit and therefore bear minimal credit risk. The Company seeks to mitigate its credit risks by spreading such risks across multiple counterparties and monitoring the risk profiles of these counterparties. | |
Accounts Receivable | |
Accounts receivable are unsecured and are derived from revenues earned from clients located around the globe. FactSet performs ongoing credit evaluations of its clients and does not require collateral from its clients. The Company maintains reserves for potential write-offs and these losses have historically been within expectations. No single client represented 10% or more of FactSet's total revenues in any fiscal year presented. At August 31, 2013, the Company’s largest individual client accounted for 2% of total subscriptions and annual subscriptions from the ten largest clients did not surpass 15% of total subscriptions, consistent with August 31, 2012. At August 31, 2013 and 2012, the receivable reserve was $1.6 million and $1.8 million, respectively. | |
Derivative Instruments | |
As a result of the use of derivative instruments, the Company is exposed to counterparty credit risk. FactSet has incorporated counterparty risk into the fair value of its derivative assets and its own credit risk into the value of the Company’s derivative liabilities. FactSet calculates credit risk from observable data related to credit default swaps as quoted by publicly available information. Counterparty risk is represented by CDS spreads related to the senior secured debt of the respective bank with whom FactSet has executed these derivative transactions. Because CDS spread information is not available for FactSet, the Company’s credit risk is determined based on using a simple average of CDS spreads for peer companies as determined by FactSet. To mitigate counterparty credit risk, FactSet enters into contracts with large financial institutions and regularly review credit exposure balances as well as the creditworthiness of the counterparties. | |
Data Content Providers | |
Certain datasets that FactSet relies on have a limited number of suppliers, although the Company makes every effort to assure that, where reasonable, alternative sources are available. However, FactSet is not dependent on any one third-party data supplier in order to meet the needs of its clients. FactSet combines the data from these commercial databases into its own dedicated single online service, which the client accesses to perform their analysis. No single vendor or data supplier represented 10% or more of FactSet's total expenses in any fiscal year presented. |
Note_18_Unaudited_Quarterly_Fi
Note 18 - Unaudited Quarterly Financial Data | 12 Months Ended | ||||||||||||||||
Aug. 31, 2013 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||
Quarterly Financial Information [Text Block] | 18. UNAUDITED QUARTERLY FINANCIAL DATA | ||||||||||||||||
The following table presents selected unaudited financial information for the eight quarters in the period ended August 31, 2013 and 2012. The results for any quarter are not necessarily indicative of future quarterly results and, accordingly, period-to-period comparisons should not be relied upon as an indication of future performance (in thousands, except per share data). | |||||||||||||||||
Fiscal 2013 | First | Second | Third | Fourth | |||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
Revenues | $ | 211,085 | $ | 213,083 | $ | 214,613 | $ | 219,332 | |||||||||
Cost of services | 73,586 | 75,842 | 76,721 | 80,231 | |||||||||||||
Selling, general and administrative | 66,414 | 81,077 | 66,255 | 68,567 | |||||||||||||
Operating income | 71,085 | 56,164 | 71,637 | 70,534 | |||||||||||||
Net income | 49,769 | 44,539 | 53,367 | 50,964 | |||||||||||||
Diluted earnings per common share | $ | 1.11 | $ | 1 | $ | 1.2 | $ | 1.16 | |||||||||
Weighted average common shares (diluted) | 44,984 | 44,455 | 44,485 | 44,043 | |||||||||||||
Fiscal 2012 | First | Second | Third | Fourth | |||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
Revenues | $ | 196,448 | $ | 199,371 | $ | 202,311 | $ | 207,663 | |||||||||
Cost of services | 66,833 | 67,531 | 68,878 | 72,295 | |||||||||||||
Selling, general and administrative | 62,862 | 64,723 | 64,939 | 64,741 | |||||||||||||
Operating income | 66,753 | 67,117 | 68,494 | 70,627 | |||||||||||||
Net income | 45,544 | 46,746 | 47,980 | 48,539 | |||||||||||||
Diluted earnings per common share | $ | 0.99 | $ | 1.02 | $ | 1.05 | $ | 1.08 | |||||||||
Weighted average common shares (diluted) | 46,103 | 45,707 | 45,736 | 45,152 | |||||||||||||
Note_19_Subsequent_Event
Note 19 - Subsequent Event | 12 Months Ended |
Aug. 31, 2013 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | 19. SUBSEQUENT EVENT |
Revere Data Acquisition | |
On September 1, 2013, FactSet announced it had acquired the assets of Revere Data, LLC for $15.4 million. Over the last decade, Revere has built an industry taxonomy that offers investors a unique way to classify companies and analyze how they fit in the global economy. Revere also offers a robust database of supply chain relationships that helps investors identify companies' interrelationships and mutual dependencies. At the time of acquisition, Revere had annual subscriptions of $4.9 million. The addition of Revere's specialty data complements FactSet's commitment to provide clients with unique and insightful content sets. |
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 12 Months Ended |
Aug. 31, 2013 | |
Accounting Policies [Abstract] | |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition |
The Company’s revenues are derived from month-to-month subscriptions to services such as workstations (also referred to as users), content and applications. The majority of clients are invoiced monthly to reflect the actual services provided. The remaining clients are invoiced quarterly, annually or biannually in advance. Subscription revenue is earned each month as the service is rendered to clients on a monthly basis. FactSet recognizes revenue when the client subscribes to FactSet services, the service has been rendered and earned during the month, the amount of the subscription is fixed or determinable based on established rates quoted on an annualized basis and collectability is reasonably assured. A provision for billing adjustments and cancellation of services is estimated and accounted for as a reduction of revenue, with a corresponding reduction to accounts receivable. | |
Accounts Receivable and Deferred Fees [Policy Text Block] | Accounts Receivable and Deferred Fees |
Amounts that have been earned but not yet paid are reflected on the Consolidated Balance Sheets as accounts receivable, net of reserves. Amounts invoiced in advance or client payments that are in excess of earned subscription revenues are reflected on the Consolidated Balance Sheets as deferred fees. As of August 31, 2013, the amount of accounts receivable that was unbilled totaled $3.3 million, which was billed in fiscal 2014. | |
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block] | The Company calculates its receivable reserve through analyzing aged client receivables, reviewing the recent history of client receivable write-offs and understanding general market and economic conditions. In accordance with this policy, a receivable reserve of $1.6 million and $1.8 million was recorded as of August 31, 2013 and 2012, respectively, in the Consolidated Balance Sheets as a reduction of accounts receivable. |
Cost of Sales, Policy [Policy Text Block] | Cost of Services |
Cost of services is comprised of compensation for Company employees within the content collection, consulting, product development, software and systems engineering groups in addition to data costs, amortization of identifiable intangible assets, computer maintenance and depreciation expenses and client-related communication costs. | |
Selling, General and Administrative Expenses, Policy [Policy Text Block] | Selling, General and Administrative |
Selling, general and administrative expenses include compensation for the sales and various other support and administrative departments, travel and entertainment expenses, marketing costs, rent, amortization of leasehold improvements, depreciation of furniture and fixtures, office expenses, professional fees and other miscellaneous expenses. | |
Earnings Per Share, Policy [Policy Text Block] | Earnings per Share |
Basic earnings per share (“EPS”) is computed by dividing net income by the number of weighted average common shares outstanding during the period. Diluted earnings per share is computed by dividing net income by the number of weighted average common shares outstanding during the period increased by the dilutive effect of potential common shares outstanding during the period. The number of potential common shares outstanding has been determined in accordance with the treasury stock method to the extent they are dilutive. Common share equivalents consist of common shares issuable upon the exercise of outstanding share-based compensation awards, including employee stock options and restricted stock. Under the treasury stock method, the exercise price paid by the optionee, future stock-based compensation expense that the Company has not yet recognized and the amount of tax benefits that would be recorded in additional paid-in capital when the award becomes deductible are assumed to be used to repurchase shares. | |
Fair Value Measurement, Policy [Policy Text Block] | Fair Value Measures |
Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, the use of various valuation methodologies, including market, income and cost approaches is permissible. The Company considers the principal or most advantageous market in which it would transact and considers assumptions that market participants would use when pricing the asset or liability. The accounting guidance for fair value measurements establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. There are three levels of inputs that may be used to measure fair value based on the reliability of inputs. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The Company’s cash equivalents are classified as Level 1 while the Company’s derivative instruments (foreign exchange forward contracts) and certificates of deposit are classified as Level 2. There were no Level 3 assets or liabilities held by FactSet as of August 31, 2013 or 2012. | |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents |
Cash and cash equivalents consist of demand deposits and corporate money market funds with original maturities of three months or less and are reported at fair value. The Company’s corporate money market funds are traded in an active market and the net asset value of each fund on the last day of the quarter is used to determine its fair value. | |
Investment, Policy [Policy Text Block] | Investments |
Investments consist of certificates of deposits with original maturities greater than three months, but less than one year and, as such, are classified as investments (short-term) on the Consolidated Balance Sheets. These certificates of deposit are held for investment and are not debt securities. The Company’s investments are associated with its purchase of certificates of deposits in India with maturities ranging from nine months to twelve months from the date of purchase. Interest income earned from the certificates of deposit during fiscal 2013 and 2012 were $1.3 million and $1.1 million, respectively. The Company’s cash, cash equivalents and investments portfolio did not experience any realized or unrealized losses as a result of counterparty credit risk or ratings change during fiscal 2013 and 2012. | |
Property, Plant and Equipment, Policy [Policy Text Block] | Property, Equipment and Leasehold Improvements |
Property, equipment and leasehold improvements are stated at cost, less accumulated depreciation and amortization. Computers and related equipment are depreciated on a straight-line basis over estimated useful lives of three years. Furniture and fixtures are depreciated on a straight-line basis over their estimated useful lives of seven years. Leasehold improvements are amortized on a straight-line basis over the terms of the related leases or estimated useful lives of the improvements, whichever period is shorter. Repairs and maintenance expenditures, which are not considered leasehold improvements and do not extend the useful life of the property and equipment, are expensed as incurred. | |
The Company performs a test for impairment whenever events or changes in circumstances indicate that the carrying amount of an individual asset or asset group may not be recoverable. Should projected undiscounted future cash flows be less than the carrying amount of the asset or asset group, an impairment charge reducing the carrying amount to fair value is required. Fair value is determined based on the most appropriate valuation technique, including discounted cash flows. | |
Asset Retirement Obligations, Policy [Policy Text Block] | Asset Retirement Obligations |
An asset retirement obligation is recognized in the period in which sufficient information exists to determine the fair value of the liability with a corresponding increase to the carrying amount of the related property, plant and equipment which is then depreciated over its useful life. The liability is initially measured at discounted fair value and then accretion expense is recorded in each subsequent period. The Company’s asset retirement obligations are primarily associated with its build out of office space in London and Hong Kong where FactSet made significant leasehold improvements and is obligated to remove the leasehold improvements at the end of the lease term. The Company’s asset retirement obligations are not material to its consolidated financial statements. | |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill |
Goodwill has resulted from the acquisitions of the Insyte, LionShares, Mergerstat, CallStreet, JCF, TrueCourse, Derivative Solutions, AlphaMetrics, Global Filings, DealMaven, Thomson Fundamentals, Market Metrics and StreetAccount businesses. Goodwill resulting from the acquisitions of LionShares, Mergerstat, TrueCourse, Derivative Solutions, Market Metrics, and StreetAccount are income tax-deductible based on the structure of the acquisition. On an ongoing basis, the Company evaluates goodwill at the reporting unit level for indications of potential impairment. Goodwill is tested for impairment based on the present value of discounted cash flows, and, if impaired, written down to fair value. FactSet has determined that there were three reporting units during fiscal years 2013, 2012 and 2011, which are consistent with the operating segments reported because there is no discrete financial information available for the subsidiaries within each operating segment. The Company’s reporting units evaluated for potential impairment were U.S., Europe and Asia Pacific, which reflects the level of internal reporting the Company uses to manage its business and operations. The Company performed an annual goodwill impairment test during the fourth quarter of fiscal years 2013, 2012 and 2011 and determined that there were no reporting units that were deemed at risk and there had been no impairment. | |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | Intangible Assets |
Intangible assets consist of certain acquired content databases, client relationships, software technology, non-compete agreements and trade names resulting from the acquisitions of Mergerstat (M&A data), JCF (earnings and other estimates), TrueCourse (takeover defense intelligence), Derivative Solutions (fixed income), AlphaMetrics (research and performance evaluation networking tool), Global Filings (equity and fixed income prospectuses), DealMaven (investment banking workflow tool), Thomson Fundamentals (financial data), Market Metrics (market research data on advisor-sold investments and insurance products), and StreetAccount (financial news) and depending on the nature of the intangible asset, are amortized on either a straight-line or an accelerated basis using estimated useful lives ranging between two and twenty years. The remaining useful lives of intangible assets subject to amortization are evaluated quarterly to determine whether events and circumstances warrant a revision to the remaining period of amortization. If the estimate of the remaining useful life is changed, the remaining carrying amount of the intangible asset is amortized prospectively over that revised remaining useful life. These intangible assets have no assigned residual values. Intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Determination of recoverability is based on an estimate of undiscounted future cash flows resulting from the use of the asset and its eventual disposition. Measurement of any impairment loss for intangible assets that management expects to hold and use is based on the amount the carrying value exceeds the fair value of the asset. No impairment of intangible assets has been identified during any of the periods presented. | |
Internal Use Software, Policy [Policy Text Block] | Internal Use Software |
Certain costs related to computer software developed or obtained for internal use are capitalized. FactSet capitalizes only those direct costs incurred during the application development and implementation stages for developing, purchasing or otherwise acquiring software solely to meet the Company’s internal needs. Capitalized costs are amortized on a straight-line basis over the estimated useful lives of the underlying software, three years or less. During fiscal 2013, 2012 and 2011, the Company capitalized $0.7 million, $0.9 million and $0.9 million, respectively of internal employee compensation costs associated with the application development and implementation stages for developing software for internal use only. In fiscal 2013, 2012 and 2011, FactSet recorded amortization expense related to capitalized software of $0.9 million, $0.9 million and $0.7 million, respectively. | |
Research, Development, and Computer Software, Policy [Policy Text Block] | Product Development |
The Company capitalizes software development costs related to software to be sold, leased, or otherwise marketed. Software development costs are expensed as incurred until technological feasibility has been established, at which time such costs are capitalized until the product is available for general release to the public. Once the point of technological feasibility is reached, which is the completion of a working prototype that has been certified as having no critical bugs and is a release candidate or has alternative future uses, development costs are capitalized until the product is ready for general release. Research and product development costs not subject to capitalization are expensed as incurred. As of August 31, 2013 and 2012, there were no software development costs capitalized related to software to be sold, leased, or otherwise marketed. | |
Accrued Liabilities [Policy Text Block] | Accrued Liabilities |
Accrued liabilities include estimates relating to employee compensation, operating expenses and tax liabilities. Approximately 15-20% of the Company’s employee incentive compensation programs are discretionary. FactSet conducts a final review of Company and departmental individual performance each fiscal year end to determine the amount of discretionary employee compensation. The Company also reviews compensation throughout the year to determine how overall performance tracks against management’s expectations. Management takes these and other factors, including historical performance, into account in reviewing accrued compensation estimates quarterly and adjusting accrual rates as appropriate. The amount of the variable employee compensation recorded within accrued compensation as of August 31, 2013 and 2012, was $35.2 million and $35.9 million, respectively. | |
Landlord Contributions to Leasehold Improvements [Policy Text Block] | Landlord Contributions for Leasehold Improvements |
In conjunction with entering into leases for office space, the Company receives contributions from landlords toward leasehold improvements which are reported in the Accounts Payable and Accrued Expenses line item (current portion only) and the Deferred Rent and Other Non-Current Liabilities line item (non-current portion) of the Consolidated Balance Sheets. These contributions are amortized as a reduction to rent expense over the non-cancelable lease terms to which they pertain. During fiscal 2013, 2012 and 2011, cash contributions from landlords were $0.5 million, $1.5 million and $1.4 million, respectively. | |
Derivatives, Policy [Policy Text Block] | Derivative Instruments |
FactSet conducts business outside the U.S. in several currencies including the British Pound Sterling, Euro, Japanese Yen, Indian Rupee and Philippine Peso. As such, it is exposed to movements in foreign currency exchange rates compared to the U.S. dollar. To manage the exposures related to the effects of foreign exchange rate fluctuations, the Company utilizes derivative instruments (foreign currency forward contracts). The Company’s primary objective in holding derivatives is to reduce the volatility of earnings and cash flows associated with changes in foreign currency. In designing a specific hedging approach, FactSet considers several factors, including offsetting exposures, significance of exposures, forecasting risk and potential effectiveness of the hedge. These transactions are designated and accounted for as cash flow hedges in accordance with applicable accounting guidance. The changes in fair value for these foreign currency forward contracts are initially reported as a component of accumulated other comprehensive loss and subsequently reclassified into operating expenses when the hedged exposure affects earnings. The gains and losses on foreign currency forward contracts mitigate the variability in operating expenses associated with currency movements. All derivatives are assessed for effectiveness at each reporting period. The Company does not enter into foreign exchange forward contracts for trading or speculative purposes. | |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency Translation |
Certain wholly owned subsidiaries within the Europe and Asia Pacific segments operate under a functional currency different from the U.S. dollar, such as the British Pound Sterling, Euro, Japanese Yen, Indian Rupee and Philippines Peso. The financial statements of these foreign subsidiaries are translated into U.S. dollars using period-end rates of exchange for assets and liabilities, and average rates for the period for revenues and expenses. Translation gains and losses that arise from translating assets, liabilities, revenues and expenses of foreign operations are recorded in accumulated other comprehensive loss as a component of stockholders’ equity. The accumulated foreign currency translation loss totaled $26.3 million and $21.2 million at August 31, 2013 and 2012, respectively. | |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income (Loss) |
The Company discloses comprehensive income (loss) in accordance with applicable standards for the reporting and display of comprehensive income (loss) in a set of financial statements. Comprehensive income (loss) is defined as the change in net assets of a business enterprise during a period from transactions generated from non-owner sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners. | |
Income Tax, Policy [Policy Text Block] | Income and Deferred Taxes |
Income tax expense is based on taxable income determined in accordance with current enacted laws and tax rates. Deferred income taxes are recorded for the temporary differences between the financial statement and tax bases of assets and liabilities using currently enacted tax rates. | |
FactSet recognizes the financial effect of an income tax position only if it is more likely than not (greater than 50%) that the tax position will prevail upon tax examination, based solely on the technical merits of the tax position as of the reporting date. Otherwise, no benefit or expense can be recognized in the consolidated financial statements. The tax benefits recognized are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. Additionally, FactSet accrues interest and related penalties, if applicable, on all tax exposures for which reserves have been established consistent with jurisdictional tax laws. Interest and penalties are classified as income tax expense in the financial statements. As of August 31, 2013, the Company had gross unrecognized tax benefits totaling $5.4 million, including $1.0 million of accrued interest, recorded as non-current taxes payable in the Consolidated Balance Sheet. | |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation |
Accounting guidance requires the measurement and recognition of compensation expense for all share-based payment awards made to employees and directors including stock options, restricted stock and common shares acquired under employee stock purchases based on estimated fair values of the share awards that are scheduled to vest during the period. FactSet uses the straight-line attribution method for all awards with graded vesting features and service conditions only. Under this method, the amount of compensation expense that is recognized on any date is at least equal to the vested portion of the award on that date. For all stock-based awards with performance conditions, the graded vesting attribution method is used by the Company to determine the monthly stock-based compensation expense over the applicable vesting periods. | |
As stock-based compensation expense recognized is based on awards ultimately expected to vest, it has been reduced for estimated forfeitures. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Forfeitures were estimated based primarily on historical experience. Windfall tax benefits, defined as tax deductions that exceed recorded stock-based compensation, are classified as cash inflows from financing activities. | |
Performance-based stock options require management to make assumptions regarding the likelihood of achieving Company performance targets on a quarterly basis. The number of performance-based options that vest will be predicated on the Company achieving certain performance levels. A change in the financial performance levels the Company achieves could result in changes to FactSet’s current estimate of the vesting percentage and related stock-based compensation. | |
Treasury Stock [Policy Text Block] | Treasury Stock |
The Company accounts for repurchased common stock under the cost method and includes such treasury stock as a component of its stockholders’ equity. At the time treasury stock retirement is approved by FactSet’s Board of Directors, the Company’s accounting policy is to deduct its par value from common stock, reduce additional paid-in capital (“APIC”) by the amount recorded in APIC when the stock was originally issued and any remaining excess of cost as a deduction from retained earnings. | |
Lease, Policy [Policy Text Block] | Operating Leases |
The Company conducts all of its operations in leased facilities which have minimum lease obligations under non-cancelable operating leases. Certain of these leases contain rent escalations based on specified percentages. Most of the leases contain renewal options and require payments for taxes, insurance and maintenance. Rent expense is charged to operations as incurred except for escalating rents, which are charged to operations on a straight-line basis over the life of the lease. Lease incentives, relating to allowances provided by landlords, are amortized over the term of the lease as a reduction of rent expense. Costs associated with acquiring a subtenant, including broker commissions and tenant allowances, are amortized over the sublease term as a reduction of sublease income. | |
Business Combinations Policy [Policy Text Block] | Business Combinations |
The Company records acquisitions using the purchase method of accounting. All of the assets acquired, liabilities assumed, contractual contingencies and contingent consideration are recognized at their fair value on the acquisition date. The application of the purchase method of accounting for business combinations requires management to make significant estimates and assumptions in the determination of the fair value of assets acquired and liabilities assumed in order to properly allocate purchase price consideration between assets that are depreciated and amortized from goodwill. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. Acquisition-related expenses and restructuring costs are recognized separately from the business combination and are expensed as incurred. | |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentrations of Risk |
Cash and cash equivalents are maintained with several financial institutions. Deposits held with banks may exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and are maintained with financial institutions with reputable credit and therefore bear minimal credit risk. The Company seeks to mitigate its credit risks by spreading such risks across multiple counterparties and monitoring the risk profiles of these counterparties. | |
New Accounting Pronouncements, Policy [Policy Text Block] | New Accounting Standards or Updates Recently Adopted |
Except for the new accounting standard updates disclosed below, the new updates issued by the Financial Accounting Standards Board (“FASB”) during the last two fiscal years did not have an impact on the Company’s consolidated financial statements. | |
Presentation of Comprehensive Income | |
In June 2011, the FASB issued an accounting standard update to provide guidance on increasing the prominence of items reported in other comprehensive income. The guidance eliminated the option to present components of other comprehensive income as part of the statement of stockholders’ equity. Instead, it required that the total of comprehensive income, the components of net income and the components of other comprehensive income be presented either in a single continuous statement of comprehensive income or in two separate but consecutive statements. FactSet adopted this accounting standard in the first quarter of fiscal 2013. Other than the change in presentation, the adoption did not have an impact on the Company’s consolidated financial statements. | |
Goodwill Impairment Testing | |
In September 2011, the FASB issued an accounting standard update intended to simplify how an entity tests goodwill for impairment. The guidance will allow an entity to first assess qualitative factors to determine whether it is necessary to perform the two-step quantitative goodwill impairment test. An entity no longer will be required to calculate the fair value of a reporting unit unless the entity determines, based on a qualitative assessment, that it is more likely than not that its fair value is less than its carrying amount. This accounting standard update became effective for FactSet beginning in the first quarter of fiscal 2013, and its adoption did not have an impact on the Company’s consolidated financial statements. | |
Fair Value Measurement and Disclosure Requirements | |
On September 1, 2011, FactSet adopted guidance issued by the FASB on disclosure requirements related to fair value measurements. The guidance requires the disclosure of roll-forward activities on purchases, sales, issuance, and settlements of the assets and liabilities measured using significant unobservable inputs (Level 3 fair value measurements). Adoption of this new guidance did not have an impact on the Company’s consolidated financial statements. On March 1, 2012, FactSet adopted guidance issued by the FASB on accounting and disclosure requirements related to fair value measurements. The guidance is the result of joint efforts by the FASB and International Accounting Standards Board to develop a single, converged fair value framework on how to measure fair value and what disclosures to provide about fair value measurements. The most significant change in disclosures is an expansion of the information required for Level 3 measurements based on unobservable inputs. The adoption did not have a material impact on the Company’s consolidated financial statements. | |
Description of New Accounting Pronouncements Not yet Adopted [Text Block] | Recent Accounting Standards or Updates Not Yet Effective |
Balance Sheet Offsetting | |
In December 2011, the FASB issued an accounting standard update requiring enhanced disclosures about certain financial instruments and derivative instruments that are offset in the balance sheet or that are subject to enforceable master netting arrangements or similar agreements. In January 2013, the FASB issued a clarifying accounting standard update, which limited the scope of the previous guidance to only derivatives, repurchase type agreements and securities borrowing and lending transactions. These accounting standard updates are effective for FactSet beginning in the first quarter of fiscal 2014. Other than requiring additional disclosures, the adoption is not expected to have an impact on the Company’s consolidated financial statements as FactSet currently reports derivative assets and liabilities on a gross basis in the consolidated balance sheets. | |
Indefinite-lived Intangible Assets | |
In July 2012, the FASB issued an accounting standard update intended to simplify how an entity tests indefinite-lived intangible assets other than goodwill for impairment by providing entities with an option to perform a qualitative assessment to determine whether further impairment testing is necessary. This accounting standard update is effective for FactSet beginning in the first quarter of fiscal 2014 and is not expected to have an impact on the Company’s consolidated financial statements. | |
Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income | |
In February 2013, the FASB issued an accounting standard update to require reclassification adjustments from other comprehensive income to be presented either in the financial statements or in the notes to the financial statements. This accounting standard update is effective for FactSet beginning in the first quarter of fiscal 2014, at which time the Company will include the required disclosures. | |
Cumulative Translation Adjustments | |
In March 2013, the FASB issued an accounting standard update requiring an entity to release into net income the entire amount of a cumulative translation adjustment related to its investment in a foreign entity when as a parent it either sells a part or all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets within a foreign entity. This accounting standard update is effective for FactSet beginning in the first quarter of fiscal 2014 and is not expected to have an impact on the Company’s consolidated financial statements. |
Note_4_Fair_Value_Measures_Tab
Note 4 - Fair Value Measures (Tables) | 12 Months Ended | ||||||||||||||||
Aug. 31, 2013 | |||||||||||||||||
Note 4 - Fair Value Measures (Tables) [Line Items] | |||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at Reporting Date Using | ||||||||||||||||
31-Aug-13 | Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets | |||||||||||||||||
Corporate money market funds (1) | $ | 156,693 | $ | - | $ | - | $ | 156,693 | |||||||||
Certificates of deposit (2) | - | 12,725 | - | 12,725 | |||||||||||||
Total assets measured at fair value | $ | 156,693 | $ | 12,725 | $ | - | $ | 169,418 | |||||||||
Liabilities | |||||||||||||||||
Derivative instruments (3) | $ | - | $ | 7,740 | $ | - | $ | 7,740 | |||||||||
Total liabilities measured at fair value | $ | - | $ | 7,740 | $ | - | $ | 7,740 | |||||||||
Fair Value Measurements at Reporting Date Using | |||||||||||||||||
31-Aug-12 | Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets | |||||||||||||||||
Corporate money market funds (1) | $ | 160,169 | $ | - | $ | - | $ | 160,169 | |||||||||
Certificates of deposit (2) | - | 13,919 | - | 13,919 | |||||||||||||
Total assets measured at fair value | $ | 160,169 | $ | 13,919 | $ | - | $ | 174,088 | |||||||||
Liabilities | |||||||||||||||||
Derivative instruments (3) | $ | - | $ | 2,374 | $ | - | $ | 2,374 | |||||||||
Total liabilities measured at fair value | $ | - | $ | 2,374 | $ | - | $ | 2,374 | |||||||||
Reported Value Measurement [Member] | |||||||||||||||||
Note 4 - Fair Value Measures (Tables) [Line Items] | |||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at Reporting Date Using | ||||||||||||||||
31-Aug-13 | Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Cash and cash equivalents | $ | 156,693 | $ | - | $ | - | $ | 156,693 | |||||||||
Investments | - | 12,725 | - | 12,725 | |||||||||||||
Total assets measured at fair value | $ | 156,693 | $ | 12,725 | $ | - | $ | 169,418 | |||||||||
Accounts payable and accrued liabilities | $ | - | $ | 3,085 | $ | - | $ | 3,085 | |||||||||
Deferred rent and other non-current liabilities | 4,655 | - | 4,655 | ||||||||||||||
Total liabilities measured at fair value | $ | - | $ | 7,740 | $ | - | $ | 7,740 | |||||||||
Fair Value Measurements at Reporting Date Using | |||||||||||||||||
31-Aug-12 | Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Cash and cash equivalents | $ | 160,169 | $ | - | $ | - | $ | 160,169 | |||||||||
Investments | - | 13,919 | - | 13,919 | |||||||||||||
Total assets measured at fair value | $ | 160,169 | $ | 13,919 | $ | - | $ | 174,088 | |||||||||
Accounts payable and accrued liabilities | $ | - | $ | 2,374 | $ | - | $ | 2,374 | |||||||||
Total liabilities measured at fair value | $ | - | $ | 2,374 | $ | - | $ | 2,374 |
Note_5_Derivative_Instruments_
Note 5 - Derivative Instruments (Tables) | 12 Months Ended | |||||||||||||||||
Aug. 31, 2013 | ||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||||
Schedule of Foreign Exchange Contracts, Statement of Financial Position [Table Text Block] | Gross Notional Value | Fair Value Asset (Liability) | ||||||||||||||||
Currency Hedged (in U.S. dollars) | 31-Aug-13 | 31-Aug-12 | 31-Aug-13 | 31-Aug-12 | ||||||||||||||
Indian Rupee | $ | 47,388 | $ | 36,286 | $ | (7,693 | ) | $ | (2,434 | ) | ||||||||
British Pound | 10,436 | - | 131 | - | ||||||||||||||
Philippine Peso | 11,700 | - | (178 | ) | - | |||||||||||||
Euro | - | 10,160 | - | 60 | ||||||||||||||
Total | $ | 69,524 | $ | 46,446 | $ | (7,740 | ) | $ | (2,374 | ) | ||||||||
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block] | Designation of Derivatives | Balance Sheet Location | Aug 31, | Aug 31, | ||||||||||||||
2013 | 2012 | |||||||||||||||||
Derivatives designated as hedging instruments | Liabilities: Foreign Currency Forward Contracts | |||||||||||||||||
Accounts payable and accrued expenses | $ | 3,085 | $ | 2,374 | ||||||||||||||
Deferred rent and other non-current liabilities | $ | 4,655 | $ | - | ||||||||||||||
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Loss Recognized | Location of Loss | Loss Reclassified | |||||||||||||||
in AOCL on Derivatives | Reclassified from AOCL | from AOCL into Income | ||||||||||||||||
(Effective Portion) | into Income | (Effective Portion) | ||||||||||||||||
Derivatives in Cash Flow Hedging Relationships | 2013 | 2012 | (Effective Portion) | 2013 | 2012 | |||||||||||||
Foreign currency forward contracts | $ | (4,296 | ) | $ | (3,172 | ) | SG&A | $ | (1,000 | ) | $ | (1,031 | ) | |||||
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] | Twelve Months Ended | |||||||||||||||||
August 31, | ||||||||||||||||||
2013 | 2012 | |||||||||||||||||
Beginning balance | $ | (1,551 | ) | $ | 590 | |||||||||||||
Changes in fair value | (4,296 | ) | (3,172 | ) | ||||||||||||||
Realized loss reclassified to earnings | 1,000 | 1,031 | ||||||||||||||||
Ending balance | $ | (4,847 | ) | $ | (1,551 | ) |
Note_6_Segment_Information_Tab
Note 6 - Segment Information (Tables) | 12 Months Ended | |||||||||||||||||
Aug. 31, 2013 | ||||||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Year Ended August 31, 2013 | U.S. | Europe | Asia Pacific | Total | |||||||||||||
Revenues from clients | $ | 586,865 | $ | 208,827 | $ | 62,420 | $ | 858,112 | ||||||||||
Segment operating profit | 138,706 | 100,187 | 30,526 | 269,419 | ||||||||||||||
Total assets | 444,406 | 193,202 | 52,589 | 690,197 | ||||||||||||||
Depreciation and amortization | 27,757 | 4,027 | 3,995 | 35,779 | ||||||||||||||
Stock-based compensation | 37,307 | 2,264 | 380 | 39,951 | ||||||||||||||
Capital expenditures | 13,649 | 1,276 | 3,592 | 18,517 | ||||||||||||||
Year Ended August 31, 2012 | U.S. | Europe | Asia Pacific | Total | ||||||||||||||
Revenues from clients | $ | 550,474 | $ | 197,404 | $ | 57,915 | $ | 805,793 | ||||||||||
Segment operating profit | 149,968 | 95,417 | 27,605 | 272,990 | ||||||||||||||
Total assets | 377,320 | 266,967 | 49,856 | 694,143 | ||||||||||||||
Depreciation and amortization | 25,061 | 4,922 | 3,796 | 33,779 | ||||||||||||||
Stock-based compensation | 20,180 | 1,680 | 122 | 21,982 | ||||||||||||||
Capital expenditures | 20,408 | 488 | 1,624 | 22,520 | ||||||||||||||
Year Ended August 31, 2011 | U.S. | Europe | Asia Pacific | Total | ||||||||||||||
Revenues from clients | $ | 497,564 | $ | 178,693 | $ | 50,253 | $ | 726,510 | ||||||||||
Segment operating profit | 135,327 | 79,637 | 23,371 | 238,335 | ||||||||||||||
Total assets | 353,205 | 274,139 | 30,096 | 657,440 | ||||||||||||||
Depreciation and amortization | 27,463 | 6,092 | 3,292 | 36,847 | ||||||||||||||
Stock-based compensation | 23,091 | 2,364 | 318 | 25,773 | ||||||||||||||
Capital expenditures | 20,588 | 2,770 | 5,985 | 29,343 | ||||||||||||||
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block] | Years Ended August 31, | 2013 | 2012 | 2011 | ||||||||||||||
Revenues* | ||||||||||||||||||
United States | $ | 586,865 | $ | 550,474 | $ | 497,564 | ||||||||||||
United Kingdom | 121,072 | 114,435 | 104,698 | |||||||||||||||
All other European countries | 87,755 | 82,969 | 73,995 | |||||||||||||||
Asia Pacific | 62,420 | 57,915 | 50,253 | |||||||||||||||
Total revenues | $ | 858,112 | $ | 805,793 | $ | 726,510 | ||||||||||||
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block] | At August 31, | 2013 | 2012 | 2011 | ||||||||||||||
Long-lived Assets** | ||||||||||||||||||
United States | $ | 51,184 | $ | 60,288 | $ | 60,092 | ||||||||||||
United Kingdom | 4,806 | 5,466 | 6,863 | |||||||||||||||
Philippines | 3,228 | 3,420 | 4,181 | |||||||||||||||
India | 1,753 | 2,921 | 4,453 | |||||||||||||||
France | 1,701 | 2,079 | 2,859 | |||||||||||||||
All other European countries | 1,350 | 872 | 1,216 | |||||||||||||||
All other Asia Pacific countries | 1,349 | 1,484 | 1,956 | |||||||||||||||
Total long-lived assets | $ | 65,731 | $ | 76,530 | $ | 81,620 |
Note_7_Business_Combinations_T
Note 7 - Business Combinations (Tables) (StreetAccount [Member]) | 12 Months Ended | ||||
Aug. 31, 2013 | |||||
StreetAccount [Member] | |||||
Note 7 - Business Combinations (Tables) [Line Items] | |||||
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | Cash consideration | $ | 21,633 | ||
Fair value of FactSet stock issued | 3,974 | ||||
Working capital | 711 | ||||
Total purchase price | $ | 26,318 | |||
Tangible assets acquired | $ | 3,584 | |||
Amortizable intangible assets | |||||
Client relationships | 2,822 | ||||
Software technology | 2,332 | ||||
Data content | 613 | ||||
Non-compete agreements | 404 | ||||
Trade name | 186 | ||||
Goodwill | 21,997 | ||||
Total assets acquired | 31,938 | ||||
Liabilities assumed | (5,620 | ) | |||
Net assets acquired | $ | 26,318 |
Note_8_Goodwill_Tables
Note 8 - Goodwill (Tables) | 12 Months Ended | ||||||||||||||||
Aug. 31, 2013 | |||||||||||||||||
Disclosure Text Block Supplement [Abstract] | |||||||||||||||||
Schedule of Goodwill [Table Text Block] | U.S. | Europe | Asia Pacific | Total | |||||||||||||
Balance at August 31, 2011 | $ | 145,826 | $ | 78,172 | $ | 4,267 | $ | 228,265 | |||||||||
Goodwill acquired during the period | 21,991 | — | — | 21,991 | |||||||||||||
Foreign currency translations | — | (4,366 | ) | (99 | ) | (4,465 | ) | ||||||||||
Balance at August 31, 2012 | $ | 167,817 | $ | 73,806 | $ | 4,168 | $ | 245,791 | |||||||||
Goodwill acquired during the period | 5 | — | — | 5 | |||||||||||||
Foreign currency translations | — | (382 | ) | (841 | ) | (1,223 | ) | ||||||||||
Balance at August 31, 2013 | $ | 167,822 | $ | 73,424 | $ | 3,327 | $ | 244,573 |
Note_9_Intangible_Assets_Table
Note 9 - Intangible Assets (Tables) | 12 Months Ended | ||||||||||||
Aug. 31, 2013 | |||||||||||||
Disclosure Text Block [Abstract] | |||||||||||||
Schedule of Finite-Lived Intangible Assets [Table Text Block] | At August 31, 2013 | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | |||||||||
Data content | $ | 49,185 | $ | 22,419 | $ | 26,766 | |||||||
Client relationships | 22,915 | 16,185 | 6,730 | ||||||||||
Software technology | 20,914 | 19,126 | 1,788 | ||||||||||
Non-compete agreements | 2,154 | 1,293 | 861 | ||||||||||
Trade names | 758 | 680 | 78 | ||||||||||
Total | $ | 95,926 | $ | 59,703 | $ | 36,223 | |||||||
At August 31, 2012 | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | ||||||||||
Data content | $ | 49,120 | $ | 18,521 | $ | 30,599 | |||||||
Client relationships | 22,841 | 14,089 | 8,752 | ||||||||||
Software technology | 20,892 | 18,482 | 2,410 | ||||||||||
Non-compete agreements | 2,154 | 810 | 1,344 | ||||||||||
Trade names | 758 | 492 | 266 | ||||||||||
Total | $ | 95,765 | $ | 52,394 | $ | 43,371 | |||||||
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block] | StreetAccount Intangible Asset Allocation | Weighted Average | Acquisition Cost | ||||||||||
Amortization Period | |||||||||||||
(years) | |||||||||||||
Client relationships | 7 | $ | 2,822 | ||||||||||
Software technology | 5 | 2,332 | |||||||||||
Data content | 3 | 613 | |||||||||||
Non-compete agreements | 4 | 404 | |||||||||||
Trade name | 2 | 186 | |||||||||||
Total | 5.5 | $ | 6,357 | ||||||||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Fiscal Year | Estimated | |||||||||||
Amortization Expense | |||||||||||||
2014 | $ | 5,983 | |||||||||||
2015 | 5,053 | ||||||||||||
2016 | 3,407 | ||||||||||||
2017 | 3,273 | ||||||||||||
2018 | 2,914 | ||||||||||||
Thereafter | 15,593 | ||||||||||||
Total | $ | 36,223 |
Note_10_Property_Equipment_and1
Note 10 - Property, Equipment and Leasehold Improvements (Tables) | 12 Months Ended | ||||||||
Aug. 31, 2013 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
Property, Plant and Equipment [Table Text Block] | At August 31, | 2013 | 2012 | ||||||
Leasehold improvements | $ | 90,040 | $ | 88,327 | |||||
Computers and related equipment | 73,320 | 74,370 | |||||||
Furniture and fixtures | 28,978 | 26,849 | |||||||
Subtotal | $ | 192,338 | $ | 189,546 | |||||
Less accumulated depreciation and amortization | (126,967 | ) | (113,016 | ) | |||||
Property, equipment and leasehold improvements, net | $ | 65,371 | $ | 76,530 |
Note_11_Common_Stock_and_Earni1
Note 11 - Common Stock and Earnings Per Share (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||||||||
Aug. 31, 2013 | ||||||||||||||||||||||||||||||||||||||
Earnings Per Share [Abstract] | ||||||||||||||||||||||||||||||||||||||
Schedule of Stock by Class [Table Text Block] | Years Ended August 31, | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||||||
Balance, beginning of year (September 1) | 44,279 | 45,055 | 46,024 | |||||||||||||||||||||||||||||||||||
Common stock issued for employee stock plans | 2,459 | 825 | 1,283 | |||||||||||||||||||||||||||||||||||
Stock issued for acquisition of business | - | 43 | - | |||||||||||||||||||||||||||||||||||
Repurchase of common stock | (3,414 | ) | (1,644 | ) | (2,252 | ) | ||||||||||||||||||||||||||||||||
Balance, end of year (August 31) | 43,324 | 44,279 | 45,055 | |||||||||||||||||||||||||||||||||||
Schedule of Weighted Average Number of Shares [Table Text Block] | Net Income (Numerator) | Weighted Average Common Shares (Denominator) | Per Share Amount | |||||||||||||||||||||||||||||||||||
Years Ended August 31, | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||
Basic EPS | ||||||||||||||||||||||||||||||||||||||
Income available to common stockholders | $ | 198,637 | $ | 188,809 | $ | 171,046 | 43,890 | 44,784 | 45,953 | $ | 4.53 | $ | 4.22 | $ | 3.72 | |||||||||||||||||||||||
Diluted EPS | ||||||||||||||||||||||||||||||||||||||
Dilutive effect of stock options and restricted stock | 734 | 1,026 | 1,402 | |||||||||||||||||||||||||||||||||||
Income available to common stockholders plus assumed conversions | $ | 198,637 | $ | 188,809 | $ | 171,046 | 44,624 | 45,810 | 47,355 | $ | 4.45 | $ | 4.12 | $ | 3.61 |
Note_12_Stockholders_Equity_Ta
Note 12 - Stockholders' Equity (Tables) | 12 Months Ended | |||||||||||
Aug. 31, 2013 | ||||||||||||
Stockholders' Equity Note [Abstract] | ||||||||||||
DividendDeclarationAndPaymentDetailsTableTextBlock | Declaration Date | Dividends Per | Type | Record Date | Total $ | Payment Date | ||||||
Share of | Amount | |||||||||||
Common Stock | (in thousands) | |||||||||||
15-Aug-13 | $ | 0.35 | Regular (cash) | 31-Aug-13 | $ | 15,164 | 17-Sep-13 | |||||
14-May-13 | $ | 0.35 | Regular (cash) | 31-May-13 | $ | 15,413 | 18-Jun-13 | |||||
21-Feb-13 | $ | 0.31 | Regular (cash) | 28-Feb-13 | $ | 13,510 | 19-Mar-13 | |||||
15-Nov-12 | $ | 0.31 | Regular (cash) | 30-Nov-12 | $ | 13,746 | 18-Dec-12 | |||||
8-Aug-12 | $ | 0.31 | Regular (cash) | 31-Aug-12 | $ | 13,727 | 18-Sep-12 | |||||
8-May-12 | $ | 0.31 | Regular (cash) | 31-May-12 | $ | 13,893 | 19-Jun-12 | |||||
14-Feb-12 | $ | 0.27 | Regular (cash) | 29-Feb-12 | $ | 12,085 | 20-Mar-12 | |||||
10-Nov-11 | $ | 0.27 | Regular (cash) | 30-Nov-11 | $ | 12,181 | 20-Dec-11 | |||||
11-Aug-11 | $ | 0.27 | Regular (cash) | August, 31 2011 | $ | 12,165 | 20-Sep-11 | |||||
9-May-11 | $ | 0.27 | Regular (cash) | 31-May-11 | $ | 12,374 | 21-Jun-11 | |||||
9-Feb-11 | $ | 0.23 | Regular (cash) | 28-Feb-11 | $ | 10,612 | 15-Mar-11 | |||||
10-Nov-10 | $ | 0.23 | Regular (cash) | 30-Nov-10 | $ | 10,660 | 21-Dec-10 | |||||
10-Aug-10 | $ | 0.23 | Regular (cash) | August, 31 2010 | $ | 10,586 | 21-Sep-10 | |||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | 31-Aug-13 | 31-Aug-12 | ||||||||||
Accumulated unrealized loss on cash flow hedges, net of tax | $ | (4,847 | ) | $ | (1,551 | ) | ||||||
Accumulated foreign currency translation adjustments | (26,326 | ) | (21,175 | ) | ||||||||
Total accumulated other comprehensive loss | $ | (31,173 | ) | $ | (22,726 | ) |
Note_13_Employee_Stock_Option_1
Note 13 - Employee Stock Option and Retirement Plans (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||
Aug. 31, 2013 | ||||||||||||||||||||||||||||||
Note 13 - Employee Stock Option and Retirement Plans (Tables) [Line Items] | ||||||||||||||||||||||||||||||
Schedule of Share-based Compensation, Stock Options and Stock Appreciation Rights Award Activity [Table Text Block] | Number | Weighted Average | ||||||||||||||||||||||||||||
Outstanding | Exercise Price Per Share | |||||||||||||||||||||||||||||
Balance at August 31, 2010 | 6,451 | $ | 47.73 | |||||||||||||||||||||||||||
Granted – non performance-based | 91 | 89.45 | ||||||||||||||||||||||||||||
Granted – performance-based | 892 | 89.39 | ||||||||||||||||||||||||||||
Granted – non-employee Directors grant | 15 | 95.05 | ||||||||||||||||||||||||||||
Exercised | (1,209 | ) | 32.08 | |||||||||||||||||||||||||||
Forfeited | (108 | ) | 66.55 | |||||||||||||||||||||||||||
Balance at August 31, 2011 | 6,132 | $ | 57.28 | |||||||||||||||||||||||||||
Granted – non performance-based | 540 | 93.96 | ||||||||||||||||||||||||||||
Granted – performance-based | 907 | 93.8 | ||||||||||||||||||||||||||||
Granted – non-employee Directors grant | 21 | 87.26 | ||||||||||||||||||||||||||||
Exercised | (731 | ) | 35.96 | |||||||||||||||||||||||||||
Forfeited | (786 | ) | 87.37 | |||||||||||||||||||||||||||
Balance at August 31, 2012 | 6,083 | $ | 64.76 | |||||||||||||||||||||||||||
Granted – non performance-based | 645 | 92.22 | ||||||||||||||||||||||||||||
Granted – performance-based | 1,011 | 92.22 | ||||||||||||||||||||||||||||
Granted – non-employee Directors grant | 19 | 91.06 | ||||||||||||||||||||||||||||
Exercised | (2,286 | ) | 52.25 | |||||||||||||||||||||||||||
Forfeited | (743 | ) | 93.84 | |||||||||||||||||||||||||||
Balance at August 31, 2013 | 4,729 | $ | 75.95 | |||||||||||||||||||||||||||
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | Outstanding | Exercisable | ||||||||||||||||||||||||||||
Range of Exercise Prices Per Share | Number Outstanding | Weighted Average | Weighted | Aggregate | Number | Weighted | Aggregate | |||||||||||||||||||||||
Remaining Years of | Average | Intrinsic | Exercisable | Average | Intrinsic | |||||||||||||||||||||||||
Contractual Life | Exercise | Value | Exercise | Value | ||||||||||||||||||||||||||
Price Per | Price Per | |||||||||||||||||||||||||||||
Share | Share | |||||||||||||||||||||||||||||
$24.49 | – | $59.36 | 782 | 1.4 | $ | 39.96 | $ | 48,801 | 759 | $ | 40.03 | $ | 47,293 | |||||||||||||||||
$61.65 | – | $65.67 | 661 | 2.5 | $ | 64.44 | $ | 25,046 | 379 | $ | 65.44 | $ | 13,992 | |||||||||||||||||
$66.46 | – | $67.41 | 696 | 3.1 | $ | 66.47 | $ | 24,975 | 495 | $ | 66.47 | $ | 17,749 | |||||||||||||||||
$87.26 | – | $91.06 | 551 | 8.4 | $ | 90.08 | $ | 6,761 | 142 | $ | 88.74 | $ | 1,935 | |||||||||||||||||
$92.22 | – | $92.55 | 1,591 | 9.2 | $ | 92.22 | $ | 16,111 | - | $ | 92.22 | $ | - | |||||||||||||||||
$94.84 | – | $103.30 | 448 | 8 | $ | 95.28 | $ | 3,167 | 150 | $ | 94.92 | $ | 1,113 | |||||||||||||||||
Total Fiscal 2013 | 4,729 | 5.9 | $ | 75.95 | $ | 124,861 | 1,925 | $ | 59.7 | $ | 82,082 | |||||||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Prior Year Amounts | 2012 | 2011 | |||||||||||||||||||||||||||
Number of | Weighted Average Exercise | Number of | Weighted Average Exercise | |||||||||||||||||||||||||||
Shares | Price Per Share | Shares | Price Per Share | |||||||||||||||||||||||||||
Outstanding at fiscal year end | 6,083 | $ | 64.76 | 6,132 | $ | 57.28 | ||||||||||||||||||||||||
Exercisable at fiscal year end | 2,858 | $ | 48.44 | 2,643 | $ | 38.99 | ||||||||||||||||||||||||
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | Number | Weighted Average Grant | ||||||||||||||||||||||||||||
Outstanding | Date Fair Value Per Award | |||||||||||||||||||||||||||||
Balance at August 31, 2010 | 261 | $ | 61.65 | |||||||||||||||||||||||||||
Granted (restricted stock and stock units) | 154 | $ | 87.55 | |||||||||||||||||||||||||||
Vested | - | $ | - | |||||||||||||||||||||||||||
Canceled/forfeited | (8 | ) | $ | 69.41 | ||||||||||||||||||||||||||
Balance at August 31, 2011 | 407 | $ | 71.31 | |||||||||||||||||||||||||||
Granted (restricted stock and stock units) | - | $ | - | |||||||||||||||||||||||||||
Vested* | (14 | ) | $ | 69.02 | ||||||||||||||||||||||||||
Canceled/forfeited | (10 | ) | $ | 77.13 | ||||||||||||||||||||||||||
Balance at August 31, 2012 | 383 | $ | 71.34 | |||||||||||||||||||||||||||
Granted (restricted stock and stock units) | 132 | $ | 85.8 | |||||||||||||||||||||||||||
Vested** | (150 | ) | $ | 62.34 | ||||||||||||||||||||||||||
Canceled/forfeited | (7 | ) | $ | 81.38 | ||||||||||||||||||||||||||
Balance at August 31, 2013 | 358 | $ | 80.43 | |||||||||||||||||||||||||||
Schedule of Share Based Awards Available For Grant [Table Text Block] | Share-based Awards | Share-based Awards | ||||||||||||||||||||||||||||
Available for Grant under | Available for Grant under | |||||||||||||||||||||||||||||
Employee Stock Option Plans | Non-Employee Stock Option Plans | |||||||||||||||||||||||||||||
Balance at August 31, 2010 | 2,216 | 162 | ||||||||||||||||||||||||||||
Amendment to the 2004 Stock Option and Award Plan to increase the number of shares available for issuance** | 4,000 | - | ||||||||||||||||||||||||||||
Granted – non performance-based options | (91 | ) | - | |||||||||||||||||||||||||||
Granted – performance-based options | (892 | ) | - | |||||||||||||||||||||||||||
Granted – non-employee Directors grant | - | (15 | ) | |||||||||||||||||||||||||||
Restricted stock awards granted* | (386 | ) | - | |||||||||||||||||||||||||||
Share-based awards canceled/forfeited | 130 | - | ||||||||||||||||||||||||||||
Balance at August 31, 2011 | 4,977 | 147 | ||||||||||||||||||||||||||||
Granted – non performance-based options | (540 | ) | - | |||||||||||||||||||||||||||
Granted – performance-based options | (907 | ) | - | |||||||||||||||||||||||||||
Granted – non-employee Directors grant | - | (21 | ) | |||||||||||||||||||||||||||
Restricted stock awards granted* | - | - | ||||||||||||||||||||||||||||
Share-based awards canceled/forfeited | 810 | - | ||||||||||||||||||||||||||||
Balance at August 31, 2012 | 4,340 | 126 | ||||||||||||||||||||||||||||
Granted – non performance-based options | (645 | ) | - | |||||||||||||||||||||||||||
Granted – performance-based options | (1,011 | ) | - | |||||||||||||||||||||||||||
Granted – non-employee Directors grant | - | (19 | ) | |||||||||||||||||||||||||||
Restricted stock awards granted* | (329 | ) | - | |||||||||||||||||||||||||||
Share-based awards canceled/forfeited | 761 | - | ||||||||||||||||||||||||||||
Balance at August 31, 2013 | 3,116 | 107 | ||||||||||||||||||||||||||||
Performance Shares [Member] | ||||||||||||||||||||||||||||||
Note 13 - Employee Stock Option and Retirement Plans (Tables) [Line Items] | ||||||||||||||||||||||||||||||
ScheduleOfShareBasedCompensationVestingPercentageAndRelatedExpensesTableTextBlock | Vesting | Total Unamortized Stock-based | Cumulative Catch-up | Average Remaining Quarterly | ||||||||||||||||||||||||||
Percentage | Compensation Expense at August 31, 2013 | Adjustment* | Expense to be Recognized | |||||||||||||||||||||||||||
0% | $ | 0 | $ | (1,192 | ) | $ | 0 | |||||||||||||||||||||||
20% | $ | 3,556 | $ | 0 | $ | 213 | ||||||||||||||||||||||||
60% | $ | 10,668 | $ | 2,384 | $ | 639 | ||||||||||||||||||||||||
100% | $ | 17,780 | $ | 4,768 | $ | 1,065 | ||||||||||||||||||||||||
July 2012 Performance Based [Member] | ||||||||||||||||||||||||||||||
Note 13 - Employee Stock Option and Retirement Plans (Tables) [Line Items] | ||||||||||||||||||||||||||||||
ScheduleOfShareBasedCompensationVestingPercentageAndRelatedExpensesTableTextBlock | Vesting | Cumulative | Remaining Expense | |||||||||||||||||||||||||||
Tranche | Catch-up Adjustment** | to be Recognized | ||||||||||||||||||||||||||||
First 20%* | n/a | n/a* | ||||||||||||||||||||||||||||
Second 20% | $ | (361 | ) | $ | 0 | |||||||||||||||||||||||||
Third 20% | $ | 448 | $ | 2,391 | ||||||||||||||||||||||||||
Fourth 20% | $ | 848 | $ | 3,591 | ||||||||||||||||||||||||||
Fifth 20% | $ | 1,358 | $ | 4,681 |
Note_14_StockBased_Compensatio1
Note 14 - Stock-Based Compensation (Tables) | 12 Months Ended | |||||||||||||||
Aug. 31, 2013 | ||||||||||||||||
Note 14 - Stock-Based Compensation (Tables) [Line Items] | ||||||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2013 | 2012 | 2011 | |||||||||||||
Term structure of risk-free interest rate | 0.16% | - | 1.91% | 0.13% | - | 2.41% | 0.18% | - | 1.88% | |||||||
Expected life (years) | 7.6 | - | 7.8 | 7.6 | - | 9.1 | 4.0 | - | 6.5 | |||||||
Term structure of volatility | 24% | - | 33% | 29% | - | 36% | 23% | - | 35% | |||||||
Dividend yield | 1.30% | 1.16% | 1.25% | |||||||||||||
Weighted average estimated fair value | $26.87 | $32.34 | $24.78 | |||||||||||||
Weighted average exercise price | $92.22 | $93.86 | $89.39 | |||||||||||||
Fair value as a percentage of exercise price | 29.10% | 34.50% | 27.70% | |||||||||||||
Non-Employee Stock Option Plan [Member] | ||||||||||||||||
Note 14 - Stock-Based Compensation (Tables) [Line Items] | ||||||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Risk-free interest rate | 0.89 | % | |||||||||||||
Expected life (years) | 5.4 | |||||||||||||||
Expected volatility | 32 | % | ||||||||||||||
Dividend yield | 1.3 | % | ||||||||||||||
Risk-free interest rate | 0.94 | % | ||||||||||||||
Expected life (years) | 5.4 | |||||||||||||||
Expected volatility | 34 | % | ||||||||||||||
Dividend yield | 1.11 | % | ||||||||||||||
Risk-free interest rate | 2.13 | % | ||||||||||||||
Expected life (years) | 5.4 | |||||||||||||||
Expected volatility | 31 | % | ||||||||||||||
Dividend yield | 1.18 | % | ||||||||||||||
Employee Stock Purchase Plan [Member] | ||||||||||||||||
Note 14 - Stock-Based Compensation (Tables) [Line Items] | ||||||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2013 | 2012 | 2011 | |||||||||||||
Risk-free interest rate | 0.07 | % | 0.06 | % | 0.1 | % | ||||||||||
Expected life (months) | 3 | 3 | 3 | |||||||||||||
Expected volatility | 9.8 | % | 14.8 | % | 11.9 | % | ||||||||||
Dividend yield | 1.38 | % | 1.26 | % | 1.04 | % |
Note_15_Income_Taxes_Tables
Note 15 - Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Aug. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Years Ended August 31, | 2013 | 2012 | 2011 | |||||||||
U.S. operations | $ | 220,778 | $ | 229,772 | $ | 198,688 | |||||||
Non-U.S. operations | 50,132 | 44,933 | 40,270 | ||||||||||
Income before income taxes | $ | 270,910 | $ | 274,705 | $ | 238,958 | |||||||
U.S. operations | $ | 61,328 | $ | 76,020 | $ | 58,125 | |||||||
Non-U.S. operations | 10,945 | 9,876 | 9,787 | ||||||||||
Total provision for income taxes | $ | 72,273 | * | $ | 85,896 | $ | 67,912 | ** | |||||
Effective tax rate | 26.7 | %* | 31.3 | % | 28.4 | %** | |||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Years Ended August 31, | 2013 | 2012 | 2011 | |||||||||
Current | |||||||||||||
U.S. federal | $ | 52,625 | $ | 73,272 | $ | 53,925 | |||||||
U.S. state and local | 3,309 | 4,305 | 4,833 | ||||||||||
Non-U.S. | 11,188 | 10,224 | 10,728 | ||||||||||
Total current taxes | $ | 67,122 | $ | 87,801 | $ | 69,486 | |||||||
Deferred | |||||||||||||
U.S. federal | $ | 5,036 | $ | (1,405 | ) | $ | (606 | ) | |||||
U.S. state and local | 358 | (152 | ) | (27 | ) | ||||||||
Non-U.S. | (243 | ) | (348 | ) | (941 | ) | |||||||
Total deferred taxes | $ | 5,151 | $ | (1,905 | ) | $ | (1,574 | ) | |||||
Total provision for income taxes | $ | 72,273 | $ | 85,896 | $ | 67,912 | |||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Years Ended August 31, | 2013 | 2012 | 2011 | |||||||||
Tax at federal U.S. statutory tax rate | 35 | % | 35 | % | 35 | % | |||||||
Increase (decrease) in taxes resulting from: | |||||||||||||
State and local taxes, net of U.S. federal income tax benefit | 2 | 2.1 | 2.2 | ||||||||||
Foreign income at other than U.S. rates | (2.5 | ) | (1.9 | ) | (1.7 | ) | |||||||
Domestic production activities (Section 199) deduction | (2.6 | ) | (2.6 | ) | (2.1 | ) | |||||||
Income tax benefit from R&D tax credits | (4.1 | ) | (0.8 | ) | (4.9 | ) | |||||||
Income tax benefits from foreign tax credits | (1.2 | ) | (0.5 | ) | (0.7 | ) | |||||||
Other, net | 0.1 | 0 | 0.6 | ||||||||||
Effective tax rate | 26.7 | % | 31.3 | % | 28.4 | % | |||||||
ScheduleOfDeferredTaxAssetsTableTextBlock | At August 31, | 2013 | 2012 | ||||||||||
Deferred tax assets | |||||||||||||
Current | |||||||||||||
Receivable reserve | $ | 614 | $ | 687 | |||||||||
Deferred rent | 2,191 | 3,175 | |||||||||||
Deferred fees | (2 | ) | 1,223 | ||||||||||
Net current deferred taxes | $ | 2,803 | $ | 5,085 | |||||||||
Non-current | |||||||||||||
Depreciation on property, equipment and leasehold improvements | $ | 6,329 | $ | 2,498 | |||||||||
Deferred rent | 2,772 | 2,782 | |||||||||||
Stock-based compensation | 19,828 | 23,395 | |||||||||||
Purchased intangible assets, including acquired technology | (8,401 | ) | (6,801 | ) | |||||||||
Other | 1,495 | 1,239 | |||||||||||
Net non-current deferred taxes | $ | 22,023 | $ | 23,113 | |||||||||
Total deferred tax assets | $ | 24,826 | $ | 28,198 | |||||||||
At August 31, | 2013 | 2012 | |||||||||||
Deferred tax liabilities (non-current) | |||||||||||||
Purchased intangible assets, including acquired technology | $ | 2,761 | $ | 2,936 | |||||||||
Stock-based compensation | (365 | ) | (343 | ) | |||||||||
Total deferred tax liabilities (non-current) | $ | 2,396 | $ | 2,593 | |||||||||
Summary of Income Tax Contingencies [Table Text Block] | Unrecognized income tax benefits at August 31, 2010 | $ | 7,346 | ||||||||||
Additions based on tax positions related to the current year | 1,258 | ||||||||||||
Additions for tax positions of prior years | 1,493 | ||||||||||||
Statute of limitations lapse | (964 | ) | |||||||||||
Reductions from settlements with taxing authorities | (1,929 | ) | |||||||||||
Unrecognized income tax benefits at August 31, 2011 | $ | 7,204 | |||||||||||
Additions based on tax positions related to the current year | 691 | ||||||||||||
Additions for tax positions of prior years | 470 | ||||||||||||
Statute of limitations lapse | (613 | ) | |||||||||||
Reductions from settlements with taxing authorities | (2,288 | ) | |||||||||||
Unrecognized income tax benefits at August 31, 2012 | $ | 5,464 | |||||||||||
Additions based on tax positions related to the current year | 1,372 | ||||||||||||
Additions for tax positions of prior years | 986 | ||||||||||||
Statute of limitations lapse | (1,103 | ) | |||||||||||
Reductions from settlements with taxing authorities | (1,284 | ) | |||||||||||
Unrecognized income tax benefits at August 31, 2013 | $ | 5,435 | |||||||||||
Summary of Income Tax Examinations [Table Text Block] | Major Tax Jurisdictions | Open Tax Years | |||||||||||
U.S. | |||||||||||||
Federal | 2010 through 2013 | ||||||||||||
State (various) | 2010 through 2013 | ||||||||||||
Europe | |||||||||||||
France | 2010 through 2013 | ||||||||||||
United Kingdom | 2011 through 2013 |
Note_16_Commitments_and_Contin1
Note 16 - Commitments and Contingencies (Tables) | 12 Months Ended | ||||
Aug. 31, 2013 | |||||
Commitments and Contingencies Disclosure [Abstract] | |||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Years Ended August 31, | Minimum Lease | |||
Payments | |||||
2014 | $ | 27,662 | |||
2015 | 23,621 | ||||
2016 | 17,684 | ||||
2017 | 16,359 | ||||
2018 | 15,434 | ||||
Thereafter | 29,092 | ||||
Total | $ | 129,852 |
Note_18_Unaudited_Quarterly_Fi1
Note 18 - Unaudited Quarterly Financial Data (Tables) | 12 Months Ended | ||||||||||||||||
Aug. 31, 2013 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | Fiscal 2013 | First | Second | Third | Fourth | ||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
Revenues | $ | 211,085 | $ | 213,083 | $ | 214,613 | $ | 219,332 | |||||||||
Cost of services | 73,586 | 75,842 | 76,721 | 80,231 | |||||||||||||
Selling, general and administrative | 66,414 | 81,077 | 66,255 | 68,567 | |||||||||||||
Operating income | 71,085 | 56,164 | 71,637 | 70,534 | |||||||||||||
Net income | 49,769 | 44,539 | 53,367 | 50,964 | |||||||||||||
Diluted earnings per common share | $ | 1.11 | $ | 1 | $ | 1.2 | $ | 1.16 | |||||||||
Weighted average common shares (diluted) | 44,984 | 44,455 | 44,485 | 44,043 | |||||||||||||
Fiscal 2012 | First | Second | Third | Fourth | |||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
Revenues | $ | 196,448 | $ | 199,371 | $ | 202,311 | $ | 207,663 | |||||||||
Cost of services | 66,833 | 67,531 | 68,878 | 72,295 | |||||||||||||
Selling, general and administrative | 62,862 | 64,723 | 64,939 | 64,741 | |||||||||||||
Operating income | 66,753 | 67,117 | 68,494 | 70,627 | |||||||||||||
Net income | 45,544 | 46,746 | 47,980 | 48,539 | |||||||||||||
Diluted earnings per common share | $ | 0.99 | $ | 1.02 | $ | 1.05 | $ | 1.08 | |||||||||
Weighted average common shares (diluted) | 46,103 | 45,707 | 45,736 | 45,152 |
Note_1_Organization_and_Nature1
Note 1 - Organization and Nature of Business (Details) | 3 Months Ended | 12 Months Ended |
Aug. 31, 2013 | Aug. 31, 2013 | |
Note 1 - Organization and Nature of Business (Details) [Line Items] | ||
Entity Number of Employees | 6,258 | 6,258 |
Increase In Number of Employees | 358 | 523 |
Percentage Increase In Number of Employees | 9.10% | |
Content Collection [Member] | ||
Note 1 - Organization and Nature of Business (Details) [Line Items] | ||
Percentage of Employees in Department | 55.00% | |
Product Development [Member] | ||
Note 1 - Organization and Nature of Business (Details) [Line Items] | ||
Percentage of Employees in Department | 24.00% | |
Conduct Sales And Consulting Services [Member] | ||
Note 1 - Organization and Nature of Business (Details) [Line Items] | ||
Percentage of Employees in Department | 18.00% | |
Administrative Support [Member] | ||
Note 1 - Organization and Nature of Business (Details) [Line Items] | ||
Percentage of Employees in Department | 3.00% | |
United States [Member] | ||
Note 1 - Organization and Nature of Business (Details) [Line Items] | ||
Entity Number of Employees | 1,888 | 1,888 |
Europe [Member] | ||
Note 1 - Organization and Nature of Business (Details) [Line Items] | ||
Entity Number of Employees | 663 | 663 |
Asia Pacific [Member] | ||
Note 1 - Organization and Nature of Business (Details) [Line Items] | ||
Entity Number of Employees | 3,707 | 3,707 |
Note_3_Summary_of_Significant_1
Note 3 - Summary of Significant Accounting Policies (Details) (USD $) | 12 Months Ended | |||
Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | Aug. 31, 2010 | |
Note 3 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Unbilled Receivables, Not Billable (in Dollars) | $3,300,000 | |||
Allowance for Doubtful Accounts Receivable (in Dollars) | 1,600,000 | 1,800,000 | ||
Interest Income and Fees, Bankers Acceptances, Certificates of Deposit and Commercial Paper (in Dollars) | 1,300,000 | 1,100,000 | ||
Number of Reportable Segments | 3 | 3 | 3 | |
Development Costs, Period Cost (in Dollars) | 700,000 | 900,000 | 900,000 | |
Amortization of Intangible Assets (in Dollars) | 7,100,000 | 7,500,000 | 8,400,000 | |
Accrued Bonuses (in Dollars) | 35,200,000 | 35,900,000 | ||
Contributions From Landlords Toward Leasehold Improvements (in Dollars) | 500,000 | 1,500,000 | 1,400,000 | |
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax (in Dollars) | -26,326,000 | -21,175,000 | ||
Unrecognized Tax Benefits (in Dollars) | 5,435,000 | 5,464,000 | 7,204,000 | 7,346,000 |
Unrecognized Tax Benefits, Interest on Income Taxes Accrued (in Dollars) | 1,000,000 | |||
Computer Equipment [Member] | ||||
Note 3 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Property, Plant and Equipment, Useful Life | 3 years | |||
Furniture and Fixtures [Member] | ||||
Note 3 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Property, Plant and Equipment, Useful Life | 7 years | |||
Internal Use Software [Member] | ||||
Note 3 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Finite-Lived Intangible Asset, Useful Life | 3 years | |||
Internal Use Software [Member] | ||||
Note 3 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Amortization of Intangible Assets (in Dollars) | $900,000 | $900,000 | $700,000 | |
Minimum [Member] | ||||
Note 3 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Finite-Lived Intangible Asset, Useful Life | 2 years | |||
Employee Compensation Percentage of Discretionary Incentives | 15.00% | |||
Maximum [Member] | ||||
Note 3 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Finite-Lived Intangible Asset, Useful Life | 20 years | |||
Employee Compensation Percentage of Discretionary Incentives | 20.00% |
Note_4_Fair_Value_Measures_Det
Note 4 - Fair Value Measures (Details) - Assets and Liabilities Measured At Fair Value (USD $) | Aug. 31, 2013 | Aug. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Note 4 - Fair Value Measures (Details) - Assets and Liabilities Measured At Fair Value [Line Items] | ||||
Corporate money market funds | $156,693 | [1] | $160,169 | [1] |
Certificates of deposit | 12,725 | [2] | 13,919 | [2] |
Total assets measured at fair value | 169,418 | 174,088 | ||
Derivative instruments | 7,740 | [3] | 2,374 | [3] |
Total liabilities measured at fair value | 7,740 | 2,374 | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Note 4 - Fair Value Measures (Details) - Assets and Liabilities Measured At Fair Value [Line Items] | ||||
Corporate money market funds | 156,693 | [1] | 160,169 | [1] |
Certificates of deposit | [2] | [2] | ||
Total assets measured at fair value | 156,693 | 160,169 | ||
Derivative instruments | [3] | [3] | ||
Fair Value, Inputs, Level 2 [Member] | ||||
Note 4 - Fair Value Measures (Details) - Assets and Liabilities Measured At Fair Value [Line Items] | ||||
Corporate money market funds | [1] | [1] | ||
Certificates of deposit | 12,725 | [2] | 13,919 | [2] |
Total assets measured at fair value | 12,725 | 13,919 | ||
Derivative instruments | 7,740 | [3] | 2,374 | [3] |
Total liabilities measured at fair value | 7,740 | 2,374 | ||
Fair Value, Inputs, Level 3 [Member] | ||||
Note 4 - Fair Value Measures (Details) - Assets and Liabilities Measured At Fair Value [Line Items] | ||||
Corporate money market funds | [1] | [1] | ||
Certificates of deposit | [2] | [2] | ||
Derivative instruments | [3] | [3] | ||
[1] | The Company's corporate money market funds are traded in an active market and the net asset value of each fund on the last day of the quarter is used to determine its fair value. As such, the Company's corporate money market funds are classified as Level 1 and included in cash and cash equivalents on the consolidated balance sheet. | |||
[2] | The Company's certificates of deposit held for investment are not debt securities and are classified as Level 2. These certificates of deposit have original maturities greater than three months, but less than one year and, as such, are classified as investments (short-term) on the Company's consolidated balance sheet. | |||
[3] | The Company utilizes the income approach to measure fair value for its derivative instruments (foreign exchange forward contracts). The income approach uses pricing models that rely on market observable inputs such as spot, forward and interest rates, as well as credit default swap spreads and therefore are classified as Level 2. |
Note_4_Fair_Value_Measures_Det1
Note 4 - Fair Value Measures (Details) - Assets and Liabilities Measured at Fair Value (USD $) | Aug. 31, 2013 | Aug. 31, 2012 |
In Thousands, unless otherwise specified | ||
Note 4 - Fair Value Measures (Details) - Assets and Liabilities Measured at Fair Value [Line Items] | ||
Cash and cash equivalents | $156,693 | $160,169 |
Investments (short-term) | 12,725 | 13,919 |
Total assets measured at fair value | 169,418 | 174,088 |
Accounts payable and accrued liabilities (derivative liabilities) | 3,085 | 2,374 |
Deferred rent and other non-current liabilities | 4,655 | |
Total liabilities measured at fair value | 7,740 | 2,374 |
Fair Value, Inputs, Level 1 [Member] | ||
Note 4 - Fair Value Measures (Details) - Assets and Liabilities Measured at Fair Value [Line Items] | ||
Cash and cash equivalents | 156,693 | 160,169 |
Total assets measured at fair value | 156,693 | 160,169 |
Fair Value, Inputs, Level 2 [Member] | ||
Note 4 - Fair Value Measures (Details) - Assets and Liabilities Measured at Fair Value [Line Items] | ||
Investments (short-term) | 12,725 | 13,919 |
Total assets measured at fair value | 12,725 | 13,919 |
Accounts payable and accrued liabilities (derivative liabilities) | 3,085 | 2,374 |
Deferred rent and other non-current liabilities | 4,655 | |
Total liabilities measured at fair value | $7,740 | $2,374 |
Note_5_Derivative_Instruments_1
Note 5 - Derivative Instruments (Details) | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2013 | Aug. 31, 2013 | Aug. 31, 2013 | Aug. 31, 2013 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2013 | Aug. 31, 2013 | Aug. 31, 2013 | Aug. 31, 2013 |
USD ($) | USD ($) | Through The End Of The Second Quarter Of Fiscal 2016 [Member] | Through The End Of The Second Quarter Of Fiscal 2014 [Member] | Through The End Of Fiscal 2014 [Member] | India, Rupees | India, Rupees | India, Rupees | United Kingdom, Pounds | United Kingdom, Pounds | Philippines, Pesos | Philippines, Pesos | |
India, Rupees | United Kingdom, Pounds | Philippines, Pesos | USD ($) | INR | USD ($) | USD ($) | GBP (£) | USD ($) | PHP | |||
Note 5 - Derivative Instruments (Details) [Line Items] | ||||||||||||
Percent Of Foreign Exchange Contracts Hedged | 75.00% | 40.00% | 50.00% | |||||||||
Derivative Asset, Notional Amount (in Rupees) | $69,524,000 | $46,446,000 | $47,388,000 | 2,900,000,000 | $36,286,000 | $10,436,000 | £ 6,800,000 | $11,700,000 | 515,900,000 | |||
Foreign Currency Derivatives at Fair Value, Net (in Dollars) | -7,700,000 | 100,000 | -200,000 | |||||||||
Derivative Asset, Notional Amount (in Pounds) | 69,524,000 | 46,446,000 | 47,388,000 | 2,900,000,000 | 36,286,000 | 10,436,000 | 6,800,000 | 11,700,000 | 515,900,000 | |||
Derivative Asset, Notional Amount (in Pesos) | $69,524,000 | $46,446,000 | $47,388,000 | 2,900,000,000 | $36,286,000 | $10,436,000 | £ 6,800,000 | $11,700,000 | 515,900,000 |
Note_5_Derivative_Instruments_2
Note 5 - Derivative Instruments (Details) - Hedging Positions and Corresponding Fair Values | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2013 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2013 | Aug. 31, 2013 | Aug. 31, 2013 | Aug. 31, 2013 | Aug. 31, 2012 |
In Thousands, unless otherwise specified | USD ($) | USD ($) | India, Rupees | India, Rupees | India, Rupees | United Kingdom, Pounds | United Kingdom, Pounds | Philippines, Pesos | Philippines, Pesos | Euro Member Countries, Euro |
USD ($) | INR | USD ($) | USD ($) | GBP (£) | USD ($) | PHP | USD ($) | |||
Note 5 - Derivative Instruments (Details) - Hedging Positions and Corresponding Fair Values [Line Items] | ||||||||||
Gross Notional Value | $69,524 | $46,446 | $47,388 | 2,900,000 | $36,286 | $10,436 | £ 6,800 | $11,700 | 515,900 | $10,160 |
Fair Value Asset (Liability) | ($7,740) | ($2,374) | ($7,693) | ($2,434) | $131 | ($178) | $60 |
Note_5_Derivative_Instruments_3
Note 5 - Derivative Instruments (Details) - Fair Value Amounts of Derivative Instruments and Gains (USD $) | Aug. 31, 2013 | Aug. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accounts Payable and Accrued Liabilities [Member] | ||
Note 5 - Derivative Instruments (Details) - Fair Value Amounts of Derivative Instruments and Gains [Line Items] | ||
Derivatives designated as hedging instruments | $3,085 | $2,374 |
Deferred Rent and Other Non-current Liabilities [Member] | ||
Note 5 - Derivative Instruments (Details) - Fair Value Amounts of Derivative Instruments and Gains [Line Items] | ||
Derivatives designated as hedging instruments | $4,655 |
Note_5_Derivative_Instruments_4
Note 5 - Derivative Instruments (Details) - Derivatives in Cash Flow Hedging Relationships (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Aug. 31, 2013 | Aug. 31, 2012 |
Derivatives in Cash Flow Hedging Relationships [Abstract] | ||
Foreign currency forward contracts | ($4,296) | ($3,172) |
Foreign currency forward contracts | ($1,000) | ($1,031) |
Note_5_Derivative_Instruments_5
Note 5 - Derivative Instruments (Details) - Summary of Cash Flow Hedges (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Aug. 31, 2013 | Aug. 31, 2012 |
Summary of Cash Flow Hedges [Abstract] | ||
Beginning balance | ($1,551) | $590 |
Changes in fair value | -4,296 | -3,172 |
Realized loss reclassified to earnings | 1,000 | 1,031 |
Ending balance | ($4,847) | ($1,551) |
Note_6_Segment_Information_Det
Note 6 - Segment Information (Details) (USD $) | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 |
In Thousands, unless otherwise specified | |||
Note 6 - Segment Information (Details) [Line Items] | |||
Goodwill (in Dollars) | $244,573 | $245,791 | $228,265 |
United States [Member] | |||
Note 6 - Segment Information (Details) [Line Items] | |||
Goodwill (in Dollars) | 167,822 | 167,817 | 145,826 |
Goodwill Percentage Per Segment | 69.00% | ||
European Union [Member] | |||
Note 6 - Segment Information (Details) [Line Items] | |||
Goodwill Percentage Per Segment | 30.00% | ||
Asia Pacific [Member] | |||
Note 6 - Segment Information (Details) [Line Items] | |||
Goodwill (in Dollars) | $3,327 | $4,168 | $4,267 |
Goodwill Percentage Per Segment | 1.00% |
Note_6_Segment_Information_Det1
Note 6 - Segment Information (Details) - Results of Operations (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, unless otherwise specified | Aug. 31, 2013 | 31-May-13 | Feb. 28, 2013 | Nov. 30, 2012 | Aug. 31, 2012 | 31-May-12 | Feb. 29, 2012 | Nov. 30, 2011 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | |||
Segment Reporting Information [Line Items] | ||||||||||||||
Revenues from clients | $219,332 | $214,613 | $213,083 | $211,085 | $207,663 | $202,311 | $199,371 | $196,448 | $858,112 | [1] | $805,793 | [1] | $726,510 | [1] |
Segment operating profit | 70,534 | 71,637 | 56,164 | 71,085 | 70,627 | 68,494 | 67,117 | 66,753 | 269,419 | 272,990 | 238,335 | |||
Total assets | 690,197 | 694,143 | 690,197 | 694,143 | 657,440 | |||||||||
Depreciation and amortization | 35,779 | 33,779 | 36,847 | |||||||||||
Stock-based compensation | 2,600 | 39,951 | 21,982 | 25,773 | ||||||||||
Capital expenditures | 18,517 | 22,520 | 29,343 | |||||||||||
United States [Member] | ||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||
Revenues from clients | 586,865 | [1] | 550,474 | [1] | 497,564 | [1] | ||||||||
Segment operating profit | 138,706 | 149,968 | 135,327 | |||||||||||
Total assets | 444,406 | 377,320 | 444,406 | 377,320 | 353,205 | |||||||||
Depreciation and amortization | 27,757 | 25,061 | 27,463 | |||||||||||
Stock-based compensation | 37,307 | 20,180 | 23,091 | |||||||||||
Capital expenditures | 13,649 | 20,408 | 20,588 | |||||||||||
Europe [Member] | ||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||
Revenues from clients | 208,827 | 197,404 | 178,693 | |||||||||||
Segment operating profit | 100,187 | 95,417 | 79,637 | |||||||||||
Total assets | 193,202 | 266,967 | 193,202 | 266,967 | 274,139 | |||||||||
Depreciation and amortization | 4,027 | 4,922 | 6,092 | |||||||||||
Stock-based compensation | 2,264 | 1,680 | 2,364 | |||||||||||
Capital expenditures | 1,276 | 488 | 2,770 | |||||||||||
Asia Pacific [Member] | ||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||
Revenues from clients | 62,420 | [1] | 57,915 | [1] | 50,253 | [1] | ||||||||
Segment operating profit | 30,526 | 27,605 | 23,371 | |||||||||||
Total assets | 52,589 | 49,856 | 52,589 | 49,856 | 30,096 | |||||||||
Depreciation and amortization | 3,995 | 3,796 | 3,292 | |||||||||||
Stock-based compensation | 380 | 122 | 318 | |||||||||||
Capital expenditures | $3,592 | $1,624 | $5,985 | |||||||||||
[1] | Revenues are attributed to countries based on the location of the client. |
Note_6_Segment_Information_Det2
Note 6 - Segment Information (Details) - Revenues From Countries That Are 10% Or More Of Revenues (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, unless otherwise specified | Aug. 31, 2013 | 31-May-13 | Feb. 28, 2013 | Nov. 30, 2012 | Aug. 31, 2012 | 31-May-12 | Feb. 29, 2012 | Nov. 30, 2011 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | |||
Note 6 - Segment Information (Details) - Revenues From Countries That Are 10% Or More Of Revenues [Line Items] | ||||||||||||||
Total Revenues | $219,332 | $214,613 | $213,083 | $211,085 | $207,663 | $202,311 | $199,371 | $196,448 | $858,112 | [1] | $805,793 | [1] | $726,510 | [1] |
United States [Member] | ||||||||||||||
Note 6 - Segment Information (Details) - Revenues From Countries That Are 10% Or More Of Revenues [Line Items] | ||||||||||||||
Total Revenues | 586,865 | [1] | 550,474 | [1] | 497,564 | [1] | ||||||||
United Kingdom [Member] | ||||||||||||||
Note 6 - Segment Information (Details) - Revenues From Countries That Are 10% Or More Of Revenues [Line Items] | ||||||||||||||
Total Revenues | 121,072 | [1] | 114,435 | [1] | 104,698 | [1] | ||||||||
All other European Countries [Member] | ||||||||||||||
Note 6 - Segment Information (Details) - Revenues From Countries That Are 10% Or More Of Revenues [Line Items] | ||||||||||||||
Total Revenues | 87,755 | [1] | 82,969 | [1] | 73,995 | [1] | ||||||||
Asia Pacific [Member] | ||||||||||||||
Note 6 - Segment Information (Details) - Revenues From Countries That Are 10% Or More Of Revenues [Line Items] | ||||||||||||||
Total Revenues | $62,420 | [1] | $57,915 | [1] | $50,253 | [1] | ||||||||
[1] | Revenues are attributed to countries based on the location of the client. |
Note_6_Segment_Information_Det3
Note 6 - Segment Information (Details) - Long-Lived Assets By Geographic Areas (USD $) | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | |||
In Thousands, unless otherwise specified | ||||||
Note 6 - Segment Information (Details) - Long-Lived Assets By Geographic Areas [Line Items] | ||||||
Total long-lived assets | $65,731 | [1] | $76,530 | [1] | $81,620 | [1] |
United States [Member] | ||||||
Note 6 - Segment Information (Details) - Long-Lived Assets By Geographic Areas [Line Items] | ||||||
Total long-lived assets | 51,184 | [1] | 60,288 | [1] | 60,092 | [1] |
United Kingdom [Member] | ||||||
Note 6 - Segment Information (Details) - Long-Lived Assets By Geographic Areas [Line Items] | ||||||
Total long-lived assets | 4,806 | [1] | 5,466 | [1] | 6,863 | [1] |
Philippines [Member] | ||||||
Note 6 - Segment Information (Details) - Long-Lived Assets By Geographic Areas [Line Items] | ||||||
Total long-lived assets | 3,228 | [1] | 3,420 | [1] | 4,181 | [1] |
India [Member] | ||||||
Note 6 - Segment Information (Details) - Long-Lived Assets By Geographic Areas [Line Items] | ||||||
Total long-lived assets | 1,753 | [1] | 2,921 | [1] | 4,453 | [1] |
France [Member] | ||||||
Note 6 - Segment Information (Details) - Long-Lived Assets By Geographic Areas [Line Items] | ||||||
Total long-lived assets | 1,701 | [1] | 2,079 | [1] | 2,859 | [1] |
All other European Countries [Member] | ||||||
Note 6 - Segment Information (Details) - Long-Lived Assets By Geographic Areas [Line Items] | ||||||
Total long-lived assets | 1,350 | [1] | 872 | [1] | 1,216 | [1] |
All other Asia Pacific Countries [Member] | ||||||
Note 6 - Segment Information (Details) - Long-Lived Assets By Geographic Areas [Line Items] | ||||||
Total long-lived assets | $1,349 | [1] | $1,484 | [1] | $1,956 | [1] |
[1] | Long-lived assets consist of property, equipment and leasehold improvements, net of accumulated depreciation and amortization and exclude goodwill, intangible assets, deferred taxes and other assets. |
Note_7_Business_Combinations_D
Note 7 - Business Combinations (Details) (USD $) | 1 Months Ended | 12 Months Ended | |
Jun. 29, 2012 | Aug. 31, 2013 | Aug. 31, 2012 | |
Note 7 - Business Combinations (Details) [Line Items] | |||
Business Acquisition, Revenue Reported by Acquired Entity for Last Annual Period (in Dollars) | $11,400,000 | ||
Entity Number of Employees | 6,258 | ||
Finite-lived Intangible Assets Acquired (in Dollars) | 6,400,000 | 0 | 6,357,000 |
StreetAccount [Member] | |||
Note 7 - Business Combinations (Details) [Line Items] | |||
Entity Number of Employees | 49 | ||
Business Acquisition, Purchase Price Allocation, Goodwill Amount (in Dollars) | 21,997,000 | ||
Customer Relationships [Member] | |||
Note 7 - Business Combinations (Details) [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 7 years | ||
Software Technology [Member] | |||
Note 7 - Business Combinations (Details) [Line Items] | |||
Finite-lived Intangible Assets Acquired (in Dollars) | 2,332,000 | ||
Finite-Lived Intangible Asset, Useful Life | 5 years | ||
Data Content [Member] | |||
Note 7 - Business Combinations (Details) [Line Items] | |||
Finite-lived Intangible Assets Acquired (in Dollars) | 613,000 | ||
Finite-Lived Intangible Asset, Useful Life | 3 years | ||
Noncompete Agreements [Member] | |||
Note 7 - Business Combinations (Details) [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 4 years | ||
Trade Names [Member] | |||
Note 7 - Business Combinations (Details) [Line Items] | |||
Finite-lived Intangible Assets Acquired (in Dollars) | $186,000 | ||
Finite-Lived Intangible Asset, Useful Life | 2 years |
Note_7_Business_Combinations_D1
Note 7 - Business Combinations (Details) - Total Purchase Price of StreetAccount Acquisition (StreetAccount [Member], USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Aug. 31, 2013 |
StreetAccount [Member] | |
Business Acquisition [Line Items] | |
Cash consideration | $21,633 |
Fair value of FactSet stock issued | 3,974 |
Working capital | 711 |
Total purchase price | $26,318 |
Note_7_Business_Combinations_D2
Note 7 - Business Combinations (Details) - Purchase Price Allocation of StreetAccount Acquisition (StreetAccount [Member], USD $) | Aug. 31, 2013 |
In Thousands, unless otherwise specified | |
Note 7 - Business Combinations (Details) - Purchase Price Allocation of StreetAccount Acquisition [Line Items] | |
Tangible assets acquired | $3,584 |
Goodwill | 21,997 |
Total assets acquired | 31,938 |
Liabilities assumed | -5,620 |
Net assets acquired | 26,318 |
Client Relationships [Member] | |
Note 7 - Business Combinations (Details) - Purchase Price Allocation of StreetAccount Acquisition [Line Items] | |
Amortizable Intangible Assets | 2,822 |
Software Technology [Member] | |
Note 7 - Business Combinations (Details) - Purchase Price Allocation of StreetAccount Acquisition [Line Items] | |
Amortizable Intangible Assets | 2,332 |
Data Content [Member] | |
Note 7 - Business Combinations (Details) - Purchase Price Allocation of StreetAccount Acquisition [Line Items] | |
Amortizable Intangible Assets | 613 |
Non-Compete Agreements [Member] | |
Note 7 - Business Combinations (Details) - Purchase Price Allocation of StreetAccount Acquisition [Line Items] | |
Amortizable Intangible Assets | 404 |
Trade Names [Member] | |
Note 7 - Business Combinations (Details) - Purchase Price Allocation of StreetAccount Acquisition [Line Items] | |
Amortizable Intangible Assets | $186 |
Note_8_Goodwill_Details
Note 8 - Goodwill (Details) | 12 Months Ended | ||
Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | |
Disclosure Text Block Supplement [Abstract] | |||
Number of Reportable Segments | 3 | 3 | 3 |
Note_8_Goodwill_Details_Change
Note 8 - Goodwill (Details) - Changes in the Carrying Amount of Goodwill by Segment (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Aug. 31, 2013 | Aug. 31, 2012 |
Goodwill [Line Items] | ||
Balance | $245,791 | $228,265 |
Goodwill acquired during the period | 5 | 21,991 |
Foreign currency translations | -1,223 | -4,465 |
Balance | 244,573 | 245,791 |
United States [Member] | ||
Goodwill [Line Items] | ||
Balance | 167,817 | 145,826 |
Goodwill acquired during the period | 5 | 21,991 |
Balance | 167,822 | 167,817 |
Europe [Member] | ||
Goodwill [Line Items] | ||
Balance | 73,806 | 78,172 |
Foreign currency translations | -382 | -4,366 |
Balance | 73,424 | 73,806 |
Asia Pacific [Member] | ||
Goodwill [Line Items] | ||
Balance | 4,168 | 4,267 |
Foreign currency translations | -841 | -99 |
Balance | $3,327 | $4,168 |
Note_9_Intangible_Assets_Detai
Note 9 - Intangible Assets (Details) (USD $) | 1 Months Ended | 12 Months Ended | ||
Jun. 29, 2012 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | |
Disclosure Text Block [Abstract] | ||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 11 years 219 days | 5 years 6 months | ||
Finite-lived Intangible Assets Acquired | $6,400,000 | $0 | $6,357,000 | |
Amortization of Intangible Assets | $7,100,000 | $7,500,000 | $8,400,000 |
Note_9_Intangible_Assets_Detai1
Note 9 - Intangible Assets (Details) - Identifiable Intangible Assets (USD $) | Aug. 31, 2013 | Aug. 31, 2012 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $95,926 | $95,765 |
Accumulated Amortization | 59,703 | 52,394 |
Net Carrying Amount | 36,223 | 43,371 |
Data Content [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 49,185 | 49,120 |
Accumulated Amortization | 22,419 | 18,521 |
Net Carrying Amount | 26,766 | 30,599 |
Client Relationships [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 22,915 | 22,841 |
Accumulated Amortization | 16,185 | 14,089 |
Net Carrying Amount | 6,730 | 8,752 |
Software Technology [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 20,914 | 20,892 |
Accumulated Amortization | 19,126 | 18,482 |
Net Carrying Amount | 1,788 | 2,410 |
Non-Compete Agreements [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 2,154 | 2,154 |
Accumulated Amortization | 1,293 | 810 |
Net Carrying Amount | 861 | 1,344 |
Trade Names [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 758 | 758 |
Accumulated Amortization | 680 | 492 |
Net Carrying Amount | $78 | $266 |
Note_9_Intangible_Assets_Detai2
Note 9 - Intangible Assets (Details) - Intangible Assets Acquired (USD $) | 1 Months Ended | 12 Months Ended | |
Jun. 29, 2012 | Aug. 31, 2013 | Aug. 31, 2012 | |
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Weighted Average Amortization Period | 11 years 219 days | 5 years 6 months | |
Acquisition Cost (in Dollars) | $6,400,000 | $0 | $6,357,000 |
Client Relationships [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Weighted Average Amortization Period | 7 years | ||
Acquisition Cost (in Dollars) | 2,822,000 | ||
Software Technology [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Weighted Average Amortization Period | 5 years | ||
Acquisition Cost (in Dollars) | 2,332,000 | ||
Data Content [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Weighted Average Amortization Period | 3 years | ||
Acquisition Cost (in Dollars) | 613,000 | ||
Non-Compete Agreements [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Weighted Average Amortization Period | 4 years | ||
Acquisition Cost (in Dollars) | 404,000 | ||
Trade Names [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Weighted Average Amortization Period | 2 years | ||
Acquisition Cost (in Dollars) | $186,000 |
Note_9_Intangible_Assets_Detai3
Note 9 - Intangible Assets (Details) - Estimated Amortization Expense (USD $) | Aug. 31, 2013 |
In Thousands, unless otherwise specified | |
Estimated Amortization Expense [Abstract] | |
2014 | $5,983 |
2015 | 5,053 |
2016 | 3,407 |
2017 | 3,273 |
2018 | 2,914 |
Thereafter | 15,593 |
Total | $36,223 |
Note_10_Property_Equipment_and2
Note 10 - Property, Equipment and Leasehold Improvements (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 |
Property, Plant and Equipment [Abstract] | |||
Depreciation | $28.40 | $26.10 | $27.90 |
Note_10_Property_Equipment_and3
Note 10 - Property, Equipment and Leasehold Improvements (Details) - Property, Equipment and Leasehold Improvements (USD $) | Aug. 31, 2013 | Aug. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Equipment and Leasehold Improvements [Abstract] | ||
Leasehold improvements | $90,040 | $88,327 |
Computers and related equipment | 73,320 | 74,370 |
Furniture and fixtures | 28,978 | 26,849 |
Subtotal | 192,338 | 189,546 |
Less accumulated depreciation and amortization | -126,967 | -113,016 |
Property, equipment and leasehold improvements, net | $65,371 | $76,530 |
Note_11_Common_Stock_and_Earni2
Note 11 - Common Stock and Earnings Per Share (Details) (USD $) | 0 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | ||||||||
14-May-13 | Jun. 30, 2013 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | Jun. 30, 2013 | |
Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Performance-Based Stock Options [Member] | Performance-Based Stock Options [Member] | Performance-Based Stock Options [Member] | Per Annum [Member] | |||
Note 11 - Common Stock and Earnings Per Share (Details) [Line Items] | ||||||||||||
Percent Increase in Dividend | 13.00% | |||||||||||
Common Stock, Dividends, Per Share, Cash Paid (in Dollars per share) | $0.35 | $1.40 | ||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 6,408 | 383,058 | 2,670 | 30,456 | 30,456 | 11,284 | 1,202,685 | 1,710,017 | 1,672,975 |
Note_11_Common_Stock_and_Earni3
Note 11 - Common Stock and Earnings Per Share (Details) - Shares of Common Stock Outstanding (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 |
Shares of Common Stock Outstanding [Abstract] | |||
Balance, beginning of year (September 1) | 44,279,214 | 45,055,000 | 46,024,000 |
Common stock issued for employee stock plans | 2,459,000 | 825,000 | 1,283,000 |
Stock issued for acquisition of business (in Dollars) | $43 | ||
Repurchase of common stock | -3,414,000 | -1,644,000 | -2,252,000 |
Balance, end of year (August 31) | 43,324,410 | 44,279,214 | 45,055,000 |
Note_11_Common_Stock_and_Earni4
Note 11 - Common Stock and Earnings Per Share (Details) - Weighted Average Shares Outstanding (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Aug. 31, 2013 | 31-May-13 | Feb. 28, 2013 | Nov. 30, 2012 | Aug. 31, 2012 | 31-May-12 | Feb. 29, 2012 | Nov. 30, 2011 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 |
Weighted Average Shares Outstanding [Abstract] | |||||||||||
Income available to common stockholders (in Dollars) | $198,637 | $188,809 | $171,046 | ||||||||
Income available to common stockholders | 43,890 | 44,784 | 45,953 | ||||||||
Income available to common stockholders (in Dollars per share) | $4.53 | $4.22 | $3.72 | ||||||||
Dilutive effect of stock options and restricted stock | 734 | 1,026 | 1,402 | ||||||||
Income available to common stockholders plus assumed conversions (in Dollars) | $198,637 | $188,809 | $171,046 | ||||||||
Income available to common stockholders plus assumed conversions | 44,043 | 44,485 | 44,455 | 44,984 | 45,152 | 45,736 | 45,707 | 46,103 | 44,624 | 45,810 | 47,355 |
Income available to common stockholders plus assumed conversions (in Dollars per share) | $1.16 | $1.20 | $1 | $1.11 | $1.08 | $1.05 | $1.02 | $0.99 | $4.45 | $4.12 | $3.61 |
Note_12_Stockholders_Equity_De
Note 12 - Stockholders' Equity (Details) (USD $) | 0 Months Ended | 1 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 4 Months Ended | 12 Months Ended | 14 Months Ended | 12 Months Ended | ||||||||||
In Millions, except Share data, unless otherwise specified | Aug. 31, 2013 | 14-May-13 | Apr. 30, 2013 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | Aug. 31, 2010 | Apr. 08, 2013 | Apr. 14, 2011 | Nov. 08, 2010 | Feb. 09, 2010 | Jan. 27, 2011 | Aug. 31, 2012 | Aug. 31, 2013 | Aug. 31, 2012 | Jul. 31, 2011 | Aug. 31, 2013 | ||
Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Share Repurchase Program [Member] | ||||||||||
Note 12 - Stockholders' Equity (Details) [Line Items] | |||||||||||||||||||
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 | 10,000,000 | ||||||||||||||||
Preferred Stock, Par or Stated Value Per Share (in Dollars per share) | $0.01 | $0.01 | $0.01 | ||||||||||||||||
Preferred Stock, Shares Issued | 0 | 0 | 0 | ||||||||||||||||
Preferred Stock, Shares Outstanding | 0 | 0 | 0 | ||||||||||||||||
Common Stock, Shares Authorized | 150,000,000 | 150,000,000 | 150,000,000 | ||||||||||||||||
Common Stock, Par or Stated Value Per Share (in Dollars per share) | $0.01 | $0.01 | $0.01 | ||||||||||||||||
Common Stock, Shares, Issued | 48,110,740 | 48,110,740 | 45,599,754 | ||||||||||||||||
Treasury Stock, Shares | 4,786,330 | 4,786,330 | 1,320,540 | ||||||||||||||||
Common Stock, Shares, Outstanding | 43,324,410 | 43,324,410 | 44,279,214 | 45,055,000 | 46,024,000 | ||||||||||||||
Stock Repurchase Program, Authorized Amount (in Dollars) | $200 | ||||||||||||||||||
Stock Repurchased During Period, Shares | 3,414,000 | 1,644,000 | 2,252,000 | 3,400,000 | |||||||||||||||
Stock Repurchased During Period, Value (in Dollars) | 152.7 | 327.3 | |||||||||||||||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount (in Dollars) | 62.4 | ||||||||||||||||||
Shares Paid for Tax Withholding for Share Based Compensation | 50,828 | 50,828 | |||||||||||||||||
Payments Related to Tax Withholding for Share-based Compensation (in Dollars) | $4.70 | ||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 131,702 | 132,000 | 0 | 154,000 | 131,702 | 30,090 | 117,723 | 55,572 | 366 | 131,702 | 0 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 150,000 | [1] | 14,000 | [2] | 0 | 14,258 | 149,741 | 14,258 | 21,102 | ||||||||||
[1] | Of the total 149,741 restricted stock awards that vested during fiscal 2013, 87,758 related to awards granted on October 23, 2009. These restricted stock awards cliff vested 60% after three years (on October 23, 2012) and the remaining 40% will vest after five years (on October 23, 2014). An additional 55,572 awards that vested in fiscal 2013 related to awards granted on February 9, 2010 at a price of $63.09. These restricted stock awards cliff vested 100% after three years (on February 9, 2013). The remaining 6,411 restricted stock awards that vested were previously granted between June 2010 and July 2011 and vesting occured when certain ASV targets were met in fiscal 2013. | ||||||||||||||||||
[2] | * Between June 2010 and July 2011, FactSet granted 21,102 restricted stock units which entitled the holder to shares of common stock as the awards vest. A restricted stock unit is a promise to deliver shares to the employee at a future date if certain vesting conditions are met. These restricted stock units are performance-based and cliff vest 25% when certain ASV targets are met. Of the total 21,102 units granted, 14,258 units vested during the fourth quarter of fiscal 2012 because FactSet achieved three of the four ASV growth targets. |
Note_12_Stockholders_Equity_De1
Note 12 - Stockholders' Equity (Details) - Dividends Declared During the Period (USD $) | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Aug. 31, 2013 |
August 15, 2013 Declaration Date [Member] | |
Note 12 - Stockholders' Equity (Details) - Dividends Declared During the Period [Line Items] | |
Dividends Per Share of Common Stock | $0.35 |
Record Date | 31-Aug-13 |
Total $ Amount (in Dollars) | $15,164 |
Payment Date | 17-Sep-13 |
May 14, 2013 Declaration Date [Member] | |
Note 12 - Stockholders' Equity (Details) - Dividends Declared During the Period [Line Items] | |
Dividends Per Share of Common Stock | $0.35 |
Record Date | 31-May-13 |
Total $ Amount (in Dollars) | 15,413 |
Payment Date | 18-Jun-13 |
February 21, 2013 Declaration Date [Member] | |
Note 12 - Stockholders' Equity (Details) - Dividends Declared During the Period [Line Items] | |
Dividends Per Share of Common Stock | $0.31 |
Record Date | 28-Feb-13 |
Total $ Amount (in Dollars) | 13,510 |
Payment Date | 19-Mar-13 |
November 15, 2012 Declaration Date [Member] | |
Note 12 - Stockholders' Equity (Details) - Dividends Declared During the Period [Line Items] | |
Dividends Per Share of Common Stock | $0.31 |
Record Date | 30-Nov-12 |
Total $ Amount (in Dollars) | 13,746 |
Payment Date | 18-Dec-12 |
August 8, 2012 Declaration Date [Member] | |
Note 12 - Stockholders' Equity (Details) - Dividends Declared During the Period [Line Items] | |
Dividends Per Share of Common Stock | $0.31 |
Record Date | 31-Aug-12 |
Total $ Amount (in Dollars) | 13,727 |
Payment Date | 18-Sep-12 |
May 8, 2012 Declaration Date [Member] | |
Note 12 - Stockholders' Equity (Details) - Dividends Declared During the Period [Line Items] | |
Dividends Per Share of Common Stock | $0.31 |
Record Date | 31-May-12 |
Total $ Amount (in Dollars) | 13,893 |
Payment Date | 19-Jun-12 |
February 14, 2012 Declaration Date [Member] | |
Note 12 - Stockholders' Equity (Details) - Dividends Declared During the Period [Line Items] | |
Dividends Per Share of Common Stock | $0.27 |
Record Date | 29-Feb-12 |
Total $ Amount (in Dollars) | 12,085 |
Payment Date | 20-Mar-12 |
November 10, 2011 Declaration Date [Member] | |
Note 12 - Stockholders' Equity (Details) - Dividends Declared During the Period [Line Items] | |
Dividends Per Share of Common Stock | $0.27 |
Record Date | 30-Nov-11 |
Total $ Amount (in Dollars) | 12,181 |
Payment Date | 20-Dec-11 |
August 11, 2011 Declaration Date [Member] | |
Note 12 - Stockholders' Equity (Details) - Dividends Declared During the Period [Line Items] | |
Dividends Per Share of Common Stock | $0.27 |
Record Date | 31-Aug-11 |
Total $ Amount (in Dollars) | 12,165 |
Payment Date | 20-Sep-11 |
May 9, 2011 Declaration Date [Member] | |
Note 12 - Stockholders' Equity (Details) - Dividends Declared During the Period [Line Items] | |
Dividends Per Share of Common Stock | $0.27 |
Record Date | 31-May-11 |
Total $ Amount (in Dollars) | 12,374 |
Payment Date | 21-Jun-11 |
February 9, 2011 Declaration Date [Member] | |
Note 12 - Stockholders' Equity (Details) - Dividends Declared During the Period [Line Items] | |
Dividends Per Share of Common Stock | $0.23 |
Record Date | 28-Feb-11 |
Total $ Amount (in Dollars) | 10,612 |
Payment Date | 15-Mar-11 |
November 10, 2010 Declaration Date [Member] | |
Note 12 - Stockholders' Equity (Details) - Dividends Declared During the Period [Line Items] | |
Dividends Per Share of Common Stock | $0.23 |
Record Date | 30-Nov-10 |
Total $ Amount (in Dollars) | 10,660 |
Payment Date | 21-Dec-10 |
August 10, 2010 Declaration Date [Member] | |
Note 12 - Stockholders' Equity (Details) - Dividends Declared During the Period [Line Items] | |
Dividends Per Share of Common Stock | $0.23 |
Record Date | 31-Aug-10 |
Total $ Amount (in Dollars) | $10,586 |
Payment Date | 21-Sep-10 |
Note_12_Stockholders_Equity_De2
Note 12 - Stockholders' Equity (Details) - Components of Accumulated Other Comprehensive Loss (USD $) | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 |
In Thousands, unless otherwise specified | |||
Components of Accumulated Other Comprehensive Loss [Abstract] | |||
Accumulated unrealized loss on cash flow hedges, net of tax | ($4,847) | ($1,551) | $590 |
Accumulated foreign currency translation adjustments | -26,326 | -21,175 | |
Total accumulated other comprehensive loss | ($31,173) | ($22,726) |
Note_13_Employee_Stock_Option_2
Note 13 - Employee Stock Option and Retirement Plans (Details) (USD $) | 1 Months Ended | 0 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 0 Months Ended | 12 Months Ended | 3 Months Ended | 7 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 4 Months Ended | 12 Months Ended | 14 Months Ended | 12 Months Ended | 1 Months Ended | 3 Months Ended | 1 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||
Apr. 30, 2013 | Jan. 15, 2013 | Jan. 13, 2012 | Jan. 14, 2011 | Jul. 31, 2012 | Nov. 30, 2010 | Aug. 31, 2013 | 31-May-13 | 31-May-12 | Feb. 29, 2012 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | Dec. 16, 2008 | Aug. 31, 2013 | Feb. 09, 2010 | Aug. 31, 2013 | Aug. 31, 2013 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2013 | Jul. 31, 2011 | Aug. 31, 2013 | Aug. 31, 2012 | Apr. 08, 2013 | Apr. 14, 2011 | Nov. 08, 2010 | Feb. 09, 2010 | Jan. 27, 2011 | Aug. 31, 2012 | Aug. 31, 2013 | Aug. 31, 2012 | Jul. 31, 2011 | Feb. 09, 2013 | Oct. 23, 2012 | Aug. 31, 2013 | Aug. 31, 2013 | Aug. 31, 2013 | Aug. 31, 2013 | Jun. 30, 2010 | Aug. 31, 2013 | Aug. 31, 2013 | Aug. 31, 2013 | Aug. 31, 2013 | Feb. 28, 2013 | Nov. 30, 2010 | Nov. 30, 2011 | Nov. 30, 2012 | Aug. 31, 2013 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | |||
Unamortized [Member] | Awards Granted Between June 2010 and July 2011 [Member] | Awards Granted Between June 2010 and July 2011 [Member] | Awards Granted on October 23, 2009 [Member] | In-The-Money Stock Options [Member] | In-The-Money Stock Options [Member] | July 2012 Performance Based Option Grant Review [Member] | Other Performace-Based Options [Member] | Other Performace-Based Options [Member] | Other Performace-Based Options [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Granted Without Performance Conditions [Member] | Granted Without Performance Conditions [Member] | Majority of Options Granted with Performance Conditions [Member] | Majority of Options Granted with Performance Conditions [Member] | Other Performace-Based Options [Member] | Financial Performance Level One [Member] | Financial Performance Level Two [Member] | Financial Performance Level Three [Member] | Financial Performance Level Four [Member] | Additional Stock-Based Compensation [Member] | November 2010 Annual Employee Performance-based Option Grant Review [Member] | November 2011 Annual Employee Performance-based Option Grant Review [Member] | November 2012 Annual Employee Performance-based Option Grant Review [Member] | November 2012 Annual Employee Performance-based Option Grant Review [Member] | Employee Stock Purchase Plan [Member] | Employee Stock Purchase Plan [Member] | Employee Stock Purchase Plan [Member] | |||||||||||||||||
Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Note 13 - Employee Stock Option and Retirement Plans (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Option Expiration Term | 7 years | 10 years | 7 years | 10 years | ||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Option Vesting Rate After First Year of Grant Date | 20.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Option Vesting Rate Per Month from Two Years through Five Years of Grant Date | 1.67% | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Option Vesting Rate for First Two Years for Grant Date | 40.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Option Vesting Rate Per Month from Three Years through Five Years | 1.67% | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 18,781 | 20,976 | 14,514 | 241,546 | 0 | 0 | 0 | 0 | 1,674,966 | 1,468,513 | 998,038 | 229,635 | 746,415 | 734,334 | 665,551 | 1,011,510 | ||||||||||||||||||||||||||||||||||||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit (in Dollars per share) | $88.40 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit (in Dollars per share) | $103.30 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value (in Dollars) | $82,082,000 | $82,082,000 | $82,100,000 | $125,400,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award Options Closing Share Price (in Dollars per share) | $102.35 | $102.35 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value (in Dollars) | 99,100,000 | 43,000,000 | 71,300,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Vesting Percentage | 25.00% | 40.00% | 100.00% | 60.00% | 0.00% | 20.00% | 60.00% | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||||
ASV Growth Rate | 0.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Expense Reversed (in Dollars) | 1,400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Percent of Performance-Based Stock Options Expected to Vest | 20.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number | 48,314 | 48,314 | 7,964 | 202,302 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized (in Dollars) | 10,400,000 | 10,400,000 | 39,200,000 | 3,600,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation (in Dollars) | 2,600,000 | 39,951,000 | 21,982,000 | 25,773,000 | 1,200,000 | 100,000 | 15,700,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 4 years 219 days | 3 years 36 days | 4 years | |||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Options Vested in Period | 133,958 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value (in Dollars) | 53,285 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | -743,000 | -786,000 | -108,000 | 9,301 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Performance Based Stock Options Outstanding Expected to be Forfeited | 25,127 | 25,127 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 150,000 | [1] | 14,000 | [2] | 0 | 6,411 | 87,758 | 14,258 | 149,741 | 14,258 | 21,102 | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 131,702 | 132,000 | 0 | 154,000 | 131,702 | 30,090 | 117,723 | 55,572 | 366 | 131,702 | 0 | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share) | $24.23 | $24.79 | $26.87 | $63.09 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share) | $85.80 | $85.80 | $0 | $87.55 | $85.80 | $99.75 | $84.38 | $95.24 | ||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized | 4,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock, Capital Shares Reserved for Future Issuance | 500,000 | 119,770 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 2,459,000 | 825,000 | 1,283,000 | 75,281 | 85,487 | 75,718 | ||||||||||||||||||||||||||||||||||||||||||||||||
Defined Contribution Plan, Employer Discretionary Contribution Amount (in Dollars) | $7,500,000 | $6,700,000 | $5,900,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
[1] | Of the total 149,741 restricted stock awards that vested during fiscal 2013, 87,758 related to awards granted on October 23, 2009. These restricted stock awards cliff vested 60% after three years (on October 23, 2012) and the remaining 40% will vest after five years (on October 23, 2014). An additional 55,572 awards that vested in fiscal 2013 related to awards granted on February 9, 2010 at a price of $63.09. These restricted stock awards cliff vested 100% after three years (on February 9, 2013). The remaining 6,411 restricted stock awards that vested were previously granted between June 2010 and July 2011 and vesting occured when certain ASV targets were met in fiscal 2013. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | * Between June 2010 and July 2011, FactSet granted 21,102 restricted stock units which entitled the holder to shares of common stock as the awards vest. A restricted stock unit is a promise to deliver shares to the employee at a future date if certain vesting conditions are met. These restricted stock units are performance-based and cliff vest 25% when certain ASV targets are met. Of the total 21,102 units granted, 14,258 units vested during the fourth quarter of fiscal 2012 because FactSet achieved three of the four ASV growth targets. |
Note_13_Employee_Stock_Option_3
Note 13 - Employee Stock Option and Retirement Plans (Details) - Summary of Stock Option Activity (USD $) | 0 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||
Jan. 15, 2013 | Jan. 13, 2012 | Jan. 14, 2011 | Jul. 31, 2012 | Aug. 31, 2013 | 31-May-13 | 31-May-12 | Feb. 29, 2012 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | |
Note 13 - Employee Stock Option and Retirement Plans (Details) - Summary of Stock Option Activity [Line Items] | |||||||||||
Number outstanding | 6,083,000 | 6,132,000 | 6,451,000 | ||||||||
Weighted average exercise price per share (in Dollars per share) | $64.76 | $57.28 | $47.73 | ||||||||
Granted, Number outstanding | 18,781 | 20,976 | 14,514 | 241,546 | 0 | 0 | 0 | 0 | 1,674,966 | 1,468,513 | 998,038 |
Exercised, Number outstanding | -2,286,000 | -731,000 | -1,209,000 | ||||||||
Exercised, Weighted average exercise price per share (in Dollars per share) | $52.25 | $35.96 | $32.08 | ||||||||
Forfeited, Number outstanding | -743,000 | -786,000 | -108,000 | ||||||||
Forfeited, Weighted average exercise price per share (in Dollars per share) | $93.84 | $87.37 | $66.55 | ||||||||
Number outstanding | 4,729,000 | 4,729,000 | 6,083,000 | 6,132,000 | |||||||
Weighted average exercise price per share (in Dollars per share) | $75.95 | $75.95 | $64.76 | $57.28 | |||||||
Non-Performance Based [Member] | |||||||||||
Note 13 - Employee Stock Option and Retirement Plans (Details) - Summary of Stock Option Activity [Line Items] | |||||||||||
Granted, Number outstanding | 645,000 | 540,000 | 91,000 | ||||||||
Granted, Weighted average exercise price per share (in Dollars per share) | $92.22 | $93.96 | $89.45 | ||||||||
Performance Based [Member] | |||||||||||
Note 13 - Employee Stock Option and Retirement Plans (Details) - Summary of Stock Option Activity [Line Items] | |||||||||||
Granted, Number outstanding | 1,011,000 | 907,000 | 892,000 | ||||||||
Granted, Weighted average exercise price per share (in Dollars per share) | $92.22 | $93.80 | $89.39 | ||||||||
Non-Employee Director Grant [Member] | |||||||||||
Note 13 - Employee Stock Option and Retirement Plans (Details) - Summary of Stock Option Activity [Line Items] | |||||||||||
Granted, Number outstanding | 19,000 | 21,000 | 15,000 | ||||||||
Granted, Weighted average exercise price per share (in Dollars per share) | $91.06 | $87.26 | $95.05 |
Note_13_Employee_Stock_Option_4
Note 13 - Employee Stock Option and Retirement Plans (Details) - Exercise Price Ranges Of Outstanding And Exercisable Options (USD $) | 12 Months Ended | |||
In Thousands, except Per Share data, unless otherwise specified | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | Aug. 31, 2010 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Range of Exercise Prices Per Share Lower Limit | $88.40 | |||
Range of Exercise Prices Per Share Upper Limit | $103.30 | |||
Number Outstanding (in Shares) | 4,729 | 6,083 | 6,132 | 6,451 |
Weighted Average Remaining Years of Contractual Life Outstanding | 5 years 328 days | |||
Weighted Average Exercise Price Per Share Outstanding | $75.95 | $64.76 | $57.28 | $47.73 |
Aggregate Intrinsic Value Outstanding (in Dollars) | $124,861 | |||
Number Exercisable (in Shares) | 1,925 | 2,858 | 2,643 | |
Weighted Average Exercise Price Per Share Exercisable | $59.70 | $48.44 | $38.99 | |
Aggregate Intrinsic Value Exercisable (in Dollars) | 82,082 | |||
$24.49 - $59.36 [Member] | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Range of Exercise Prices Per Share Lower Limit | $24.49 | |||
Range of Exercise Prices Per Share Upper Limit | $59.36 | |||
Number Outstanding (in Shares) | 782 | |||
Weighted Average Remaining Years of Contractual Life Outstanding | 1 year 146 days | |||
Weighted Average Exercise Price Per Share Outstanding | $39.96 | |||
Aggregate Intrinsic Value Outstanding (in Dollars) | 48,801 | |||
Number Exercisable (in Shares) | 759 | |||
Weighted Average Exercise Price Per Share Exercisable | $40.03 | |||
Aggregate Intrinsic Value Exercisable (in Dollars) | 47,293 | |||
$61.65 - $65.67 [Member] | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Range of Exercise Prices Per Share Lower Limit | $61.65 | |||
Range of Exercise Prices Per Share Upper Limit | $65.67 | |||
Number Outstanding (in Shares) | 661 | |||
Weighted Average Remaining Years of Contractual Life Outstanding | 2 years 6 months | |||
Weighted Average Exercise Price Per Share Outstanding | $64.44 | |||
Aggregate Intrinsic Value Outstanding (in Dollars) | 25,046 | |||
Number Exercisable (in Shares) | 379 | |||
Weighted Average Exercise Price Per Share Exercisable | $65.44 | |||
Aggregate Intrinsic Value Exercisable (in Dollars) | 13,992 | |||
$66.46 - $67.41 [Member] | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Range of Exercise Prices Per Share Lower Limit | $66.46 | |||
Range of Exercise Prices Per Share Upper Limit | $67.41 | |||
Number Outstanding (in Shares) | 696 | |||
Weighted Average Remaining Years of Contractual Life Outstanding | 3 years 36 days | |||
Weighted Average Exercise Price Per Share Outstanding | $66.47 | |||
Aggregate Intrinsic Value Outstanding (in Dollars) | 24,975 | |||
Number Exercisable (in Shares) | 495 | |||
Weighted Average Exercise Price Per Share Exercisable | $66.47 | |||
Aggregate Intrinsic Value Exercisable (in Dollars) | 17,749 | |||
$87.26 - $91.06 [Member] | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Range of Exercise Prices Per Share Lower Limit | $87.26 | |||
Range of Exercise Prices Per Share Upper Limit | $91.06 | |||
Number Outstanding (in Shares) | 551 | |||
Weighted Average Remaining Years of Contractual Life Outstanding | 8 years 146 days | |||
Weighted Average Exercise Price Per Share Outstanding | $90.08 | |||
Aggregate Intrinsic Value Outstanding (in Dollars) | 6,761 | |||
Number Exercisable (in Shares) | 142 | |||
Weighted Average Exercise Price Per Share Exercisable | $88.74 | |||
Aggregate Intrinsic Value Exercisable (in Dollars) | 1,935 | |||
$92.22 - $92.55 [Member] | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Range of Exercise Prices Per Share Lower Limit | $92.22 | |||
Range of Exercise Prices Per Share Upper Limit | $92.55 | |||
Number Outstanding (in Shares) | 1,591 | |||
Weighted Average Remaining Years of Contractual Life Outstanding | 9 years 73 days | |||
Weighted Average Exercise Price Per Share Outstanding | $92.22 | |||
Aggregate Intrinsic Value Outstanding (in Dollars) | 16,111 | |||
Weighted Average Exercise Price Per Share Exercisable | $92.22 | |||
$94.84 - $103.30 [Member] | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Range of Exercise Prices Per Share Lower Limit | $94.84 | |||
Range of Exercise Prices Per Share Upper Limit | $103.30 | |||
Number Outstanding (in Shares) | 448 | |||
Weighted Average Remaining Years of Contractual Life Outstanding | 8 years | |||
Weighted Average Exercise Price Per Share Outstanding | $95.28 | |||
Aggregate Intrinsic Value Outstanding (in Dollars) | 3,167 | |||
Number Exercisable (in Shares) | 150 | |||
Weighted Average Exercise Price Per Share Exercisable | $94.92 | |||
Aggregate Intrinsic Value Exercisable (in Dollars) | $1,113 |
Note_13_Employee_Stock_Option_5
Note 13 - Employee Stock Option and Retirement Plans (Details) - Stock Options Outstanding and Exercisable (USD $) | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | Aug. 31, 2010 |
In Thousands, except Per Share data, unless otherwise specified | ||||
Stock Options Outstanding and Exercisable [Abstract] | ||||
Outstanding at fiscal year end | 4,729 | 6,083 | 6,132 | 6,451 |
Outstanding at fiscal year end (in Dollars per share) | $75.95 | $64.76 | $57.28 | $47.73 |
Exercisable at fiscal year end | 1,925 | 2,858 | 2,643 | |
Exercisable at fiscal year end (in Dollars per share) | $59.70 | $48.44 | $38.99 |
Note_13_Employee_Stock_Option_6
Note 13 - Employee Stock Option and Retirement Plans (Details) - Change in the Actual Financial Performance Level (USD $) | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2013 | Aug. 31, 2013 | Aug. 31, 2013 | Aug. 31, 2013 | ||||
In Thousands, unless otherwise specified | Financial Performance Level One [Member] | Financial Performance Level Two [Member] | Financial Performance Level Three [Member] | Financial Performance Level Four [Member] | ||||||
November 2012 Annual Employee Performance-Based Option Grant Review [Member] | November 2012 Annual Employee Performance-Based Option Grant Review [Member] | November 2012 Annual Employee Performance-Based Option Grant Review [Member] | November 2012 Annual Employee Performance-Based Option Grant Review [Member] | |||||||
Note 13 - Employee Stock Option and Retirement Plans (Details) - Change in the Actual Financial Performance Level [Line Items] | ||||||||||
Vesting percentage | 0.00% | 20.00% | 60.00% | 100.00% | ||||||
Total unamortized stock-based compensation expense | $10,400 | $39,200 | $0 | $3,556 | $10,668 | $17,780 | ||||
One-time adjustment | -1,192 | [1] | 0 | [1] | 2,384 | [1] | 4,768 | [1] | ||
Average remaining quarterly expense to be recognized | $0 | $213 | $639 | $1,065 | ||||||
[1] | Amounts represent the cumulative catch-up adjustment to be recorded if there was a change in the vesting percentage as of August 31, 2013. |
Note_13_Employee_Stock_Option_7
Note 13 - Employee Stock Option and Retirement Plans (Details) - Changes to the Current Estimate of the Vesting Percentage and Related Expense (July 2012 Performance Based [Member], USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Aug. 31, 2013 | |
Financial Performance Level One [Member] | ||
Note 13 - Employee Stock Option and Retirement Plans (Details) - Changes to the Current Estimate of the Vesting Percentage and Related Expense [Line Items] | ||
Cumulative Catch-up Adjustment | [1] | |
Remaining Expense to be Recognized | [2] | |
Financial Performance Level Two [Member] | ||
Note 13 - Employee Stock Option and Retirement Plans (Details) - Changes to the Current Estimate of the Vesting Percentage and Related Expense [Line Items] | ||
Cumulative Catch-up Adjustment | -361 | [1] |
Remaining Expense to be Recognized | 0 | |
Financial Performance Level Three [Member] | ||
Note 13 - Employee Stock Option and Retirement Plans (Details) - Changes to the Current Estimate of the Vesting Percentage and Related Expense [Line Items] | ||
Cumulative Catch-up Adjustment | 448 | [1] |
Remaining Expense to be Recognized | 2,391 | |
Financial Performance Level Four [Member] | ||
Note 13 - Employee Stock Option and Retirement Plans (Details) - Changes to the Current Estimate of the Vesting Percentage and Related Expense [Line Items] | ||
Cumulative Catch-up Adjustment | 848 | [1] |
Remaining Expense to be Recognized | 3,591 | |
Financial Performance Level Five [Member] | ||
Note 13 - Employee Stock Option and Retirement Plans (Details) - Changes to the Current Estimate of the Vesting Percentage and Related Expense [Line Items] | ||
Cumulative Catch-up Adjustment | 1,358 | [1] |
Remaining Expense to be Recognized | $4,681 | |
[1] | Amounts represent the cumulative catch-up adjustment to be recorded if there was a change in the vesting percentage as of August 31, 2013. | |
[2] | The first 20% of the grant vested during fiscal 2013, and as such, there is no remaining expense to be recognized as of August 31, 2013. |
Note_13_Employee_Stock_Option_8
Note 13 - Employee Stock Option and Retirement Plans (Details) - Summary of Restricted Stock Award (USD $) | 1 Months Ended | 12 Months Ended | ||||
Apr. 30, 2013 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | |||
Summary of Restricted Stock Award [Abstract] | ||||||
Balance | 383,000 | 407,000 | 261,000 | |||
Balance (in Dollars per share) | $71.34 | $71.31 | $61.65 | |||
Granted (restricted stock and stock units) | 131,702 | 132,000 | 0 | 154,000 | ||
Granted (restricted stock and stock units) (in Dollars per share) | $85.80 | $85.80 | $0 | $87.55 | ||
Vested | -150,000 | [1] | -14,000 | [2] | 0 | |
Vested (in Dollars per share) | $62.34 | [1] | $69.02 | [2] | $0 | |
Canceled/forfeited | -7,000 | -10,000 | -8,000 | |||
Canceled/forfeited (in Dollars per share) | $81.38 | $77.13 | $69.41 | |||
Balance | 358,000 | 383,000 | 407,000 | |||
Balance (in Dollars per share) | $80.43 | $71.34 | $71.31 | |||
[1] | Of the total 149,741 restricted stock awards that vested during fiscal 2013, 87,758 related to awards granted on October 23, 2009. These restricted stock awards cliff vested 60% after three years (on October 23, 2012) and the remaining 40% will vest after five years (on October 23, 2014). An additional 55,572 awards that vested in fiscal 2013 related to awards granted on February 9, 2010 at a price of $63.09. These restricted stock awards cliff vested 100% after three years (on February 9, 2013). The remaining 6,411 restricted stock awards that vested were previously granted between June 2010 and July 2011 and vesting occured when certain ASV targets were met in fiscal 2013. | |||||
[2] | * Between June 2010 and July 2011, FactSet granted 21,102 restricted stock units which entitled the holder to shares of common stock as the awards vest. A restricted stock unit is a promise to deliver shares to the employee at a future date if certain vesting conditions are met. These restricted stock units are performance-based and cliff vest 25% when certain ASV targets are met. Of the total 21,102 units granted, 14,258 units vested during the fourth quarter of fiscal 2012 because FactSet achieved three of the four ASV growth targets. |
Note_13_Employee_Stock_Option_9
Note 13 - Employee Stock Option and Retirement Plans (Details) - Summary of Share-Based Awards Available For Grant | 1 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Apr. 30, 2013 | Nov. 30, 2010 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | Apr. 08, 2013 | Apr. 14, 2011 | Nov. 08, 2010 | Feb. 09, 2010 | Jan. 27, 2011 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | Aug. 31, 2011 | Aug. 31, 2013 | Aug. 31, 2012 | |||||||||
Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Employee Option Plan [Member] | Employee Option Plan [Member] | Employee Option Plan [Member] | Employee Option Plan [Member] | Employee Option Plan [Member] | Employee Option Plan [Member] | Employee Option Plan [Member] | Employee Option Plan [Member] | Employee Option Plan [Member] | Non-Employee Stock Option Plan [Member] | Non-Employee Stock Option Plan [Member] | Non-Employee Stock Option Plan [Member] | Non-Employee Stock Option Plan [Member] | Non-Employee Stock Option Plan [Member] | Non-Employee Stock Option Plan [Member] | ||||||||||||||
Employee Option Plan [Member] | Employee Option Plan [Member] | Employee Option Plan [Member] | Non-Employee Stock Option Plan [Member] | Non-Employee Stock Option Plan [Member] | Non-Employee Stock Option Plan [Member] | Non-Performance Based [Member] | Non-Performance Based [Member] | Non-Performance Based [Member] | Performance Based [Member] | Performance Based [Member] | Performance Based [Member] | Non-Employee Director Grant [Member] | Non-Employee Director Grant [Member] | Non-Employee Director Grant [Member] | |||||||||||||||||||||||||||
Note 13 - Employee Stock Option and Retirement Plans (Details) - Summary of Share-Based Awards Available For Grant [Line Items] | |||||||||||||||||||||||||||||||||||||||||
Balance | 4,340,000 | 4,977,000 | 2,216,000 | 162,000 | 107,000 | 126,000 | |||||||||||||||||||||||||||||||||||
Granted | -645,000 | -540,000 | -91,000 | -1,011,000 | -907,000 | -892,000 | -19,000 | -21,000 | -15,000 | ||||||||||||||||||||||||||||||||
Granted | 131,702 | 132,000 | 0 | 154,000 | -329,000 | [1] | [1] | -386,000 | [1] | [1] | [1] | [1] | 131,702 | 30,090 | 117,723 | 55,572 | 366 | 131,702 | 0 | ||||||||||||||||||||||
Share-based awards canceled/forfeited | -743,000 | -786,000 | -108,000 | 761,000 | 810,000 | 130,000 | |||||||||||||||||||||||||||||||||||
Amendment to the 2004 Stock Option and Award Plan to increase the number of shares available for issuance** | 4,000,000 | 4,000,000 | [2] | [2] | |||||||||||||||||||||||||||||||||||||
Balance | 1,000,000 | 3,116,000 | 4,340,000 | 4,977,000 | 147,000 | 107,000 | 126,000 | ||||||||||||||||||||||||||||||||||
[1] | Under the Company's option plan, for each restricted stock award granted/canceled/forfeited, an equivalent of 2.5 shares is added back to the available share-based awards balance. | ||||||||||||||||||||||||||||||||||||||||
[2] | As of November 30, 2010, 1.0 million shares remained available for future grant of share-based awards under the Company's 2004 Stock Option and Award Plan, a number that the Company believed to be insufficient to meet its anticipated needs over the next 12 to 18 months. Therefore, the Company's Board of Directors approved an amendment to increase the maximum number of shares of FactSet common stock issuable under the 2004 Stock Option and Award Plan by 4,000,000 shares. The stockholders of FactSet approved the Amended and Restated FactSet Research Systems Inc. 2004 Stock Option and Award Plan at the Company's annual meeting held on December 14, 2010, including the reservation of an additional 4,000,000 shares of common stock for issuance. |
Note_14_StockBased_Compensatio2
Note 14 - Stock-Based Compensation (Details) (USD $) | 0 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 3 Months Ended | 0 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||
Jan. 15, 2013 | Jan. 13, 2012 | Jan. 14, 2011 | Apr. 30, 2013 | Jul. 31, 2012 | Aug. 31, 2013 | 31-May-13 | 31-May-12 | Feb. 29, 2012 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | Dec. 16, 2008 | Nov. 30, 2012 | Aug. 31, 2012 | Aug. 31, 2011 | Feb. 28, 2011 | Nov. 30, 2010 | Aug. 31, 2013 | Aug. 31, 2011 | Feb. 28, 2013 | Nov. 30, 2012 | Aug. 31, 2012 | 31-May-11 | Nov. 30, 2010 | Nov. 30, 2012 | Aug. 31, 2012 | Nov. 30, 2011 | Nov. 30, 2010 | Aug. 31, 2013 | Apr. 08, 2013 | Apr. 14, 2011 | Nov. 08, 2010 | Feb. 09, 2010 | Jan. 27, 2011 | Aug. 31, 2013 | Aug. 31, 2012 | Jul. 22, 2011 | Nov. 08, 2010 | Jan. 27, 2011 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | Nov. 30, 2011 | Nov. 30, 2011 | Jan. 13, 2012 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | |
Performance Based [Member] | Performance Based [Member] | Performance Based [Member] | Performance Based [Member] | Performance Based [Member] | Performance Based [Member] | Performance Based [Member] | Non-Performance Based [Member] | Non-Performance Based [Member] | Non-Performance Based [Member] | Non-Performance Based [Member] | Non-Performance Based [Member] | Performance and Non-Performance [Member] | Performance and Non-Performance [Member] | Performance and Non-Performance [Member] | Performance and Non-Performance [Member] | Non-Employee Directors' Stock Option Plan [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Employee Stock Purchase Plan [Member] | Employee Stock Purchase Plan [Member] | Employee Stock Purchase Plan [Member] | Non-Performance Based [Member] | Performance Based [Member] | Director [Member] | Employee Stock Purchase Plan [Member] | Employee Stock Purchase Plan [Member] | Employee Stock Purchase Plan [Member] | ||||||||||||||
Note 14 - Stock-Based Compensation (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||
Allocated Share-based Compensation Expense (in Dollars) | $18,300,000 | $7,900,000 | $1,200,000 | $1,300,000 | $1,100,000 | $40,000,000 | $22,000,000 | $25,800,000 | |||||||||||||||||||||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized (in Dollars) | 10,400,000 | 10,400,000 | 39,200,000 | 50,300,000 | |||||||||||||||||||||||||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 4 years 219 days | 3 years 36 days | 3 years 6 months | ||||||||||||||||||||||||||||||||||||||||||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount (in Dollars) | $0 | $0 | |||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 18,781 | 20,976 | 14,514 | 241,546 | 0 | 0 | 0 | 0 | 1,674,966 | 1,468,513 | 998,038 | 1,011,510 | 241,546 | 17,842 | 65,224 | 809,239 | 9,367 | 635,308 | 120,847 | 6,408 | 84,811 | 419,593 | 665,551 | 5,244 | |||||||||||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share) | $96.10 | $99.78 | $92.55 | $103.30 | $92.22 | $90.92 | $94.84 | $88.40 | $80.77 | $75.20 | $75.36 | ||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share) | $24.23 | $24.79 | $26.87 | $28.02 | $29.07 | $26.69 | $23.41 | $26.87 | $33.11 | $32.08 | $24.42 | $63.09 | $15.79 | $16.09 | $15.99 | ||||||||||||||||||||||||||||||||||
Common Stock, Capital Shares Reserved for Future Issuance | 500,000 | 250,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 131,702 | 132,000 | 0 | 154,000 | 131,702 | 30,090 | 117,723 | 55,572 | 366 | 131,702 | 0 | 1,092 | 3,291 | 1,719 | |||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share) | $85.80 | $85.80 | $0 | $87.55 | $85.80 | $99.75 | $84.38 | $95.24 | $91.54 | $83.49 | $94.50 | ||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 2,459,000 | 825,000 | 1,283,000 | 75,281 | 85,487 | 75,718 |
Note_14_StockBased_Compensatio3
Note 14 - Stock-Based Compensation (Details) - Summary of Stock Option Weighted Average Assumptions Of Employee Stock Options | 12 Months Ended | ||
Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | |
Note 14 - Stock-Based Compensation (Details) - Summary of Stock Option Weighted Average Assumptions Of Employee Stock Options [Line Items] | |||
Term structure of risk-free interest rate | 0.07% | 0.06% | 0.10% |
Expected life (years) | 3 months | 3 months | 3 months |
Term structure of volatility | 9.80% | 14.80% | 11.90% |
Employee Stock Option [Member] | Minimum [Member] | |||
Note 14 - Stock-Based Compensation (Details) - Summary of Stock Option Weighted Average Assumptions Of Employee Stock Options [Line Items] | |||
Term structure of risk-free interest rate | 0.16% | 0.13% | 0.18% |
Expected life (years) | 7 years 219 days | 7 years 219 days | 4 years |
Term structure of volatility | 24.00% | 29.00% | 23.00% |
Employee Stock Option [Member] | Maximum [Member] | |||
Note 14 - Stock-Based Compensation (Details) - Summary of Stock Option Weighted Average Assumptions Of Employee Stock Options [Line Items] | |||
Term structure of risk-free interest rate | 1.91% | 2.41% | 1.88% |
Expected life (years) | 7 years 292 days | 9 years 36 days | 6 years 6 months |
Term structure of volatility | 33.00% | 36.00% | 35.00% |
Note_14_StockBased_Compensatio4
Note 14 - Stock-Based Compensation (Details) - Summary of Stock Option Weighted Average Assumptions | 12 Months Ended | ||
Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | |
Note 14 - Stock-Based Compensation (Details) - Summary of Stock Option Weighted Average Assumptions [Line Items] | |||
Risk-free interest rate | 0.07% | 0.06% | 0.10% |
Expected life (in years) | 3 months | 3 months | 3 months |
Expected volatility | 9.80% | 14.80% | 11.90% |
Dividend yield | 1.38% | 1.26% | 1.04% |
Non-Employee Directors' Stock Option Plan [Member] | |||
Note 14 - Stock-Based Compensation (Details) - Summary of Stock Option Weighted Average Assumptions [Line Items] | |||
Risk-free interest rate | 0.89% | 0.94% | 2.13% |
Expected life (in years) | 5 years 146 days | 5 years 146 days | 5 years 146 days |
Expected volatility | 32.00% | 34.00% | 31.00% |
Dividend yield | 1.30% | 1.11% | 1.18% |
Note_14_StockBased_Compensatio5
Note 14 - Stock-Based Compensation (Details) - Summary of Stock Option Weighted Average Assumptions, Employee | 12 Months Ended | ||
Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | |
Summary of Stock Option Weighted Average Assumptions, Employee [Abstract] | |||
Risk-free interest rate | 0.07% | 0.06% | 0.10% |
Expected life (months) | 3 months | 3 months | 3 months |
Expected volatility | 9.80% | 14.80% | 11.90% |
Dividend yield | 1.38% | 1.26% | 1.04% |
Note_15_Income_Taxes_Details
Note 15 - Income Taxes (Details) (USD $) | 12 Months Ended | |||||
Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | Aug. 31, 2010 | |||
Note 15 - Income Taxes (Details) [Line Items] | ||||||
Unrecognized Tax Benefits, Decrease Resulting from Current Period Tax Positions | $7,200,000 | $6,300,000 | ||||
Effective Income Tax Rate Reconciliation, Percent | 26.70% | [1] | 31.30% | 28.40% | [2] | |
Unrecognized Tax Benefits | 5,435,000 | 5,464,000 | 7,204,000 | 7,346,000 | ||
Unrecognized Tax Benefits, Interest on Income Taxes Accrued | $1,000,000 | |||||
Before Discrete Items [Member] | ||||||
Note 15 - Income Taxes (Details) [Line Items] | ||||||
Effective Income Tax Rate Reconciliation, Percent | 28.90% | 30.90% | ||||
[1] | Includes income tax benefits of $7.2 million primarily from the reenactment of the U.S. Federal R&D tax credit in January 2013 and the finalization of the fiscal 2012 tax return. The reenactment of the credit was retroactive to January 1, 2012 and extends through the end of the 2013 calendar year. The fiscal 2013 annual effective tax rate before discrete items of $7.2 million was 28.9%. | |||||
[2] | Includes income tax benefits of $6.3 million from the finalization of the fiscal 2010 tax return and the reenactment of the U.S. Federal R&D tax credit in December 2010. The fiscal 2011 annual effective tax rate before discrete items of $6.3 million was 30.9%. |
Note_15_Income_Taxes_Details_P
Note 15 - Income Taxes (Details) - Provision for Income Taxes by Geographic Operations (USD $) | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | ||
Provision for Income Taxes by Geographic Operations [Abstract] | |||||
U.S. operations | $220,778 | $229,772 | $198,688 | ||
Non-U.S. operations | 50,132 | 44,933 | 40,270 | ||
Income before income taxes | 270,910 | 274,705 | 238,958 | ||
U.S. operations | 61,328 | 76,020 | 58,125 | ||
Non-U.S. operations | 10,945 | 9,876 | 9,787 | ||
Total provision for income taxes | $72,273 | [1] | $85,896 | $67,912 | [2] |
Effective tax rate | 26.70% | [1] | 31.30% | 28.40% | [2] |
[1] | Includes income tax benefits of $7.2 million primarily from the reenactment of the U.S. Federal R&D tax credit in January 2013 and the finalization of the fiscal 2012 tax return. The reenactment of the credit was retroactive to January 1, 2012 and extends through the end of the 2013 calendar year. The fiscal 2013 annual effective tax rate before discrete items of $7.2 million was 28.9%. | ||||
[2] | Includes income tax benefits of $6.3 million from the finalization of the fiscal 2010 tax return and the reenactment of the U.S. Federal R&D tax credit in December 2010. The fiscal 2011 annual effective tax rate before discrete items of $6.3 million was 30.9%. |
Note_15_Income_Taxes_Details_C
Note 15 - Income Taxes (Details) - Components of the Provision for Income Taxes (USD $) | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | ||
Current | |||||
U.S. federal | $52,625 | $73,272 | $53,925 | ||
U.S. state and local | 3,309 | 4,305 | 4,833 | ||
Non-U.S. | 11,188 | 10,224 | 10,728 | ||
Total current taxes | 67,122 | 87,801 | 69,486 | ||
Deferred | |||||
U.S. federal | 5,036 | -1,405 | -606 | ||
U.S. state and local | 358 | -152 | -27 | ||
Non-U.S. | -243 | -348 | -941 | ||
Total deferred taxes | 5,151 | -1,905 | -1,574 | ||
Total provision for income taxes | $72,273 | [1] | $85,896 | $67,912 | [2] |
[1] | Includes income tax benefits of $7.2 million primarily from the reenactment of the U.S. Federal R&D tax credit in January 2013 and the finalization of the fiscal 2012 tax return. The reenactment of the credit was retroactive to January 1, 2012 and extends through the end of the 2013 calendar year. The fiscal 2013 annual effective tax rate before discrete items of $7.2 million was 28.9%. | ||||
[2] | Includes income tax benefits of $6.3 million from the finalization of the fiscal 2010 tax return and the reenactment of the U.S. Federal R&D tax credit in December 2010. The fiscal 2011 annual effective tax rate before discrete items of $6.3 million was 30.9%. |
Note_15_Income_Taxes_Details_P1
Note 15 - Income Taxes (Details) - Percentage of Income Before Income Taxes | 12 Months Ended | ||||
Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | |||
Percentage of Income Before Income Taxes [Abstract] | |||||
Tax at federal U.S. statutory tax rate | 35.00% | 35.00% | 35.00% | ||
Increase (decrease) in taxes resulting from: | |||||
State and local taxes, net of U.S. federal income tax benefit | 2.00% | 2.10% | 2.20% | ||
Foreign income at other than U.S. rates | -2.50% | -1.90% | -1.70% | ||
Domestic production activities (Section 199) deduction | -2.60% | -2.60% | -2.10% | ||
Income tax benefit from R&D tax credits | -4.10% | -0.80% | -4.90% | ||
Income tax benefits from foreign tax credits | -1.20% | -0.50% | -0.70% | ||
Other, net | 0.10% | 0.00% | 0.60% | ||
Effective tax rate | 26.70% | [1] | 31.30% | 28.40% | [2] |
[1] | Includes income tax benefits of $7.2 million primarily from the reenactment of the U.S. Federal R&D tax credit in January 2013 and the finalization of the fiscal 2012 tax return. The reenactment of the credit was retroactive to January 1, 2012 and extends through the end of the 2013 calendar year. The fiscal 2013 annual effective tax rate before discrete items of $7.2 million was 28.9%. | ||||
[2] | Includes income tax benefits of $6.3 million from the finalization of the fiscal 2010 tax return and the reenactment of the U.S. Federal R&D tax credit in December 2010. The fiscal 2011 annual effective tax rate before discrete items of $6.3 million was 30.9%. |
Note_15_Income_Taxes_Details_S
Note 15 - Income Taxes (Details) - Significant Components of Deferred Tax Assets (USD $) | Aug. 31, 2013 | Aug. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current | ||
Receivable reserve | $614 | $687 |
Deferred rent | 2,191 | 3,175 |
Deferred fees | -2 | 1,223 |
Net current deferred taxes | 2,803 | 5,085 |
Non-current | ||
Depreciation on property, equipment and leasehold improvements | 6,329 | 2,498 |
Deferred rent | 2,772 | 2,782 |
Stock-based compensation | 19,828 | 23,395 |
Purchased intangible assets, including acquired technology | -8,401 | -6,801 |
Other | 1,495 | 1,239 |
Net non-current deferred taxes | -2,396 | -2,593 |
Total deferred tax assets | 24,826 | 28,198 |
Deferred tax liabilities (non-current) | ||
Purchased intangible assets, including acquired technology | 2,761 | 2,936 |
Stock-based compensation | -365 | -343 |
Total deferred tax liabilities (non-current) | $2,396 | $2,593 |
Note_15_Income_Taxes_Details_R
Note 15 - Income Taxes (Details) - Reconciliation of Unrecognized Tax Benefits (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 |
Reconciliation of Unrecognized Tax Benefits [Abstract] | |||
Unrecognized income tax benefits | $5,464 | $7,204 | $7,346 |
Additions based on tax positions related to the current year | 1,372 | 691 | 1,258 |
Additions for tax positions of prior years | 986 | 470 | 1,493 |
Statute of limitations lapse | -1,103 | -613 | -964 |
Reductions from settlements with taxing authorities | -1,284 | -2,288 | -1,929 |
Unrecognized income tax benefits | $5,435 | $5,464 | $7,204 |
Note_15_Income_Taxes_Details_M
Note 15 - Income Taxes (Details) - Major Tax Jurisdictions In Which The Company And Affiliates Operate And The Earliest Tax Year Subject to Examination | 15 Months Ended |
31-May-13 | |
Federal [Member] | |
Income Tax Examination [Line Items] | |
Open Tax Years | 2010 through 2013 |
State (Various) [Member] | |
Income Tax Examination [Line Items] | |
Open Tax Years | 2010 through 2013 |
France [Member] | |
Income Tax Examination [Line Items] | |
Open Tax Years | 2010 through 2013 |
United Kingdom [Member] | |
Income Tax Examination [Line Items] | |
Open Tax Years | 2011 through 2013 |
Note_16_Commitments_and_Contin2
Note 16 - Commitments and Contingencies (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 |
sqm | |||
sqft | |||
Note 16 - Commitments and Contingencies (Details) [Line Items] | |||
Area of Real Estate Property (in Square Feet) | 809,000 | ||
Area of Real Estate Increase (Decrease) (in Square Meters) | 2,000 | ||
Area of Real Estate Increase (Decrease) Percent | 0.30% | ||
Operating Leases, Rent Expense | $36.20 | $34.60 | $32.80 |
Line of Credit Facility, Amount Outstanding | 2.2 | ||
Long-term Purchase Commitment, Amount | $50.20 | $52.20 | |
Norwalk, Connecticut [Member] | |||
Note 16 - Commitments and Contingencies (Details) [Line Items] | |||
Area of Real Estate Property (in Square Feet) | 193,000 |
Note_16_Commitments_and_Contin3
Note 16 - Commitments and Contingencies (Details) - Future Minimum Lease Commitments (USD $) | Aug. 31, 2013 |
In Thousands, unless otherwise specified | |
Future Minimum Lease Commitments [Abstract] | |
2014 | $27,662 |
2015 | 23,621 |
2016 | 17,684 |
2017 | 16,359 |
2018 | 15,434 |
Thereafter | 29,092 |
Total | $129,852 |
Note_17_Risks_and_Concentratio1
Note 17 - Risks and Concentrations of Credit Risk (Details) (USD $) | 12 Months Ended | ||
Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | |
Note 17 - Risks and Concentrations of Credit Risk (Details) [Line Items] | |||
Operating Expenses | $588,693,000 | $532,803,000 | $488,175,000 |
Foreign Currency Exposure | 154,000,000 | ||
Investments and Cash | 209,000,000 | ||
Allowance for Doubtful Accounts Receivable | 1,600,000 | 1,800,000 | |
Non-U.S. [Member] | |||
Note 17 - Risks and Concentrations of Credit Risk (Details) [Line Items] | |||
Revenue, Net | 15,000,000 | ||
Operating Expenses | $169,000,000 | ||
Sales Revenue, Net [Member] | |||
Note 17 - Risks and Concentrations of Credit Risk (Details) [Line Items] | |||
Concentration Risk, Percentage | 10.00% | ||
Subscriptions [Member] | |||
Note 17 - Risks and Concentrations of Credit Risk (Details) [Line Items] | |||
Concentration Risk, Percentage | 2.00% | 15.00% | |
Total Expenses [Member] | |||
Note 17 - Risks and Concentrations of Credit Risk (Details) [Line Items] | |||
Concentration Risk, Percentage | 10.00% |
Note_18_Unaudited_Quarterly_Fi2
Note 18 - Unaudited Quarterly Financial Data (Details) - Quarterly Financial Data (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Aug. 31, 2013 | 31-May-13 | Feb. 28, 2013 | Nov. 30, 2012 | Aug. 31, 2012 | 31-May-12 | Feb. 29, 2012 | Nov. 30, 2011 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | |||
Quarterly Financial Data [Abstract] | ||||||||||||||
Revenues | $219,332 | $214,613 | $213,083 | $211,085 | $207,663 | $202,311 | $199,371 | $196,448 | $858,112 | [1] | $805,793 | [1] | $726,510 | [1] |
Cost of services | 80,231 | 76,721 | 75,842 | 73,586 | 72,295 | 68,878 | 67,531 | 66,833 | 306,379 | 275,537 | 244,623 | |||
Selling, general and administrative | 68,567 | 66,255 | 81,077 | 66,414 | 64,741 | 64,939 | 64,723 | 62,862 | 282,314 | 257,266 | 243,552 | |||
Operating income | 70,534 | 71,637 | 56,164 | 71,085 | 70,627 | 68,494 | 67,117 | 66,753 | 269,419 | 272,990 | 238,335 | |||
Net income | $50,964 | $53,367 | $44,539 | $49,769 | $48,539 | $47,980 | $46,746 | $45,544 | $198,637 | $188,809 | $171,046 | |||
Diluted earnings per common share (in Dollars per share) | $1.16 | $1.20 | $1 | $1.11 | $1.08 | $1.05 | $1.02 | $0.99 | $4.45 | $4.12 | $3.61 | |||
Weighted average common shares (diluted) (in Shares) | 44,043 | 44,485 | 44,455 | 44,984 | 45,152 | 45,736 | 45,707 | 46,103 | 44,624 | 45,810 | 47,355 | |||
[1] | Revenues are attributed to countries based on the location of the client. |
Note_19_Subsequent_Event_Detai
Note 19 - Subsequent Event (Details) (Subsequent Event [Member], USD $) | 0 Months Ended |
In Millions, unless otherwise specified | Sep. 02, 2013 |
Revere Data, LLC [Member] | |
Note 19 - Subsequent Event (Details) [Line Items] | |
Subscription and Circulation Revenue | $4.90 |
Revere Data, LLC [Member] | |
Note 19 - Subsequent Event (Details) [Line Items] | |
Business Combination, Consideration Transferred | $15.40 |