Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
May 31, 2017 | Jun. 30, 2017 | |
Document Information [Line Items] | ||
Entity Registrant Name | FACTSET RESEARCH SYSTEMS INC | |
Entity Central Index Key | 1,013,237 | |
Trading Symbol | fds | |
Current Fiscal Year End Date | --08-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | Yes | |
Entity Common Stock, Shares Outstanding (in shares) | 39,228,289 | |
Document Type | 10-Q | |
Document Period End Date | May 31, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
May 31, 2017 | May 31, 2016 | May 31, 2017 | May 31, 2016 | |
Revenues | $ 312,120 | $ 287,501 | $ 894,537 | $ 839,801 |
Operating expenses | ||||
Cost of services | 146,426 | 124,602 | 405,311 | 363,249 |
Selling, general and administrative | 78,052 | 73,609 | 219,519 | 214,610 |
Total operating expenses | 224,478 | 198,211 | 624,830 | 577,859 |
Operating income | 87,642 | 89,290 | 269,707 | 261,942 |
Other expense | ||||
Loss on sale of business | (1,223) | |||
Interest expense, net of interest income | (2,413) | (433) | (3,945) | (765) |
Total other expense | (2,413) | (433) | (5,168) | (765) |
Income before income taxes | 85,229 | 88,857 | 264,539 | 261,177 |
Provision for income taxes | 19,815 | 22,076 | 65,832 | 66,669 |
Net income | $ 65,414 | $ 66,781 | $ 198,707 | $ 194,508 |
Basic earnings per common share (in dollars per share) | $ 1.66 | $ 1.64 | $ 5.03 | $ 4.73 |
Diluted earnings per common share (in dollars per share) | $ 1.66 | $ 1.62 | $ 5 | $ 4.68 |
Basic weighted average common shares (in shares) | 39,317 | 40,779 | 39,528 | 41,094 |
Diluted weighted average common shares (in shares) | 39,457 | 41,189 | 39,736 | 41,596 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
May 31, 2017 | May 31, 2016 | May 31, 2017 | May 31, 2016 | ||
Net income | $ 65,414 | $ 66,781 | $ 198,707 | $ 194,508 | |
Other comprehensive income (loss), net of tax | |||||
Net unrealized gain on cash flow hedges* | [1] | 2,385 | 2,464 | 4,233 | 229 |
Foreign currency translation adjustments | 21,316 | 8,883 | 10,680 | (7,867) | |
Other comprehensive income (loss) | 23,701 | 11,347 | 14,913 | (7,638) | |
Comprehensive income | $ 89,115 | $ 78,128 | $ 213,620 | $ 186,870 | |
[1] | For the three and nine months ended May 31, 2017, the unrealized gain on cash flow hedges was net of tax expense of $1,485 and $2,561, respectively. For the three and nine months ended May 31, 2016, the unrealized gain on cash flow hedges was net of tax expense of $1,448 and $135, respectively. |
Consolidated Statements of Com4
Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
May 31, 2017 | May 31, 2016 | May 31, 2017 | May 31, 2016 | |
Unrealized gain on cash flow hedges | $ 1,485 | $ 1,448 | $ 2,561 | $ 135 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | May 31, 2017 | Aug. 31, 2016 |
ASSETS | ||
Cash and cash equivalents | $ 161,758 | $ 228,407 |
Investments | 31,927 | 24,217 |
Accounts receivable, net of reserves of $1,691 at May 31, 2017 and $1,521 at August 31, 2016 | 147,455 | 97,797 |
Prepaid taxes | 5,344 | |
Deferred taxes | 2,623 | 3,158 |
Prepaid expenses and other current assets | 24,076 | 15,697 |
Total current assets | 373,183 | 369,276 |
Property, equipment and leasehold improvements, net | 97,442 | 84,622 |
Goodwill | 695,667 | 452,915 |
Intangible assets, net | 175,534 | 93,161 |
Deferred taxes | 5,099 | 13,406 |
Other assets | 11,089 | 5,781 |
TOTAL ASSETS | 1,358,014 | 1,019,161 |
LIABILITIES | ||
Accounts payable and accrued expenses | 63,611 | 45,836 |
Accrued compensation | 36,722 | 51,036 |
Deferred fees | 51,210 | 33,247 |
Deferred taxes | 1,781 | 291 |
Taxes payable | 6,856 | 7,781 |
Dividends payable | 21,951 | 20,019 |
Total current liabilities | 182,131 | 158,210 |
2017 Revolving Credit Facility | 575,000 | 300,000 |
Deferred Fees | 2,476 | |
Deferred taxes | 23,039 | 1,708 |
Taxes payable | 10,780 | 8,782 |
Deferred rent and other non-current liabilities | 37,035 | 33,080 |
TOTAL LIABILITIES | 830,461 | 501,780 |
Commitments and contingencies (See Note 18) | ||
STOCKHOLDERS’ EQUITY | ||
Preferred stock, $.01 par value, 10,000,000 shares authorized, none issued | ||
Common stock, $.01 par value, 150,000,000 shares authorized, 51,737,696 and 51,150,978 shares issued; 39,198,325 and 40,038,225 shares outstanding at May 31, 2017 and August 31, 2016, respectively | 517 | 512 |
Additional paid-in capital | 720,020 | 623,195 |
Treasury stock, at cost: 12,539,371 and 11,112,753 shares at May 31, 2017 and August 31, 2016, respectively | (1,560,466) | (1,321,700) |
Retained earnings | 1,421,122 | 1,283,927 |
Accumulated other comprehensive loss | (53,640) | (68,553) |
TOTAL STOCKHOLDERS’ EQUITY | 527,553 | 517,381 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 1,358,014 | $ 1,019,161 |
Consolidated Balance Sheets (C6
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | May 31, 2017 | Aug. 31, 2016 |
Accounts receivable, reserves | $ 1,691 | $ 1,521 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 10,000,000 | 10,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 150,000,000 | 150,000,000 |
Common stock, shares issued (in shares) | 51,737,696 | 51,150,978 |
Common stock, shares outstanding (in shares) | 39,198,325 | 40,038,225 |
Treasury stock, shares (in shares) | 12,539,371 | 11,112,753 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
May 31, 2017 | May 31, 2016 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income | $ 198,707 | $ 194,508 |
Adjustments to reconcile net income to net cash provided by operating activities | ||
Depreciation and amortization | 33,770 | 28,222 |
Stock-based compensation expense | 20,873 | 22,433 |
Loss on sale of business | 1,223 | |
Deferred income taxes | 8,829 | 3,015 |
Loss on disposition of assets | 33 | 2 |
Tax benefits from share-based payment arrangements | (9,798) | (13,327) |
Changes in assets and liabilities, net of effects of acquisitions | ||
Accounts receivable, net of reserves | (29,310) | (11,316) |
Accounts payable and accrued expenses | 1,548 | 3,474 |
Accrued compensation | (17,299) | (1,809) |
Deferred fees | 2,638 | 3,696 |
Taxes payable, net of prepaid taxes | 6,081 | 20,313 |
Prepaid expenses and other assets | 440 | 1,250 |
Deferred rent and other non-current liabilities | 2,766 | 10,812 |
Other working capital accounts, net | (189) | (169) |
Net cash provided by operating activities | 220,312 | 261,104 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Acquisition of businesses, net of cash acquired | (301,843) | (264,087) |
Purchases of investments | (29,982) | (12,934) |
Proceeds from sales of investments | 23,399 | 12,423 |
Purchases of property, equipment and leasehold improvements | (25,981) | (34,671) |
Net cash used in investing activities | (334,407) | (299,269) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Dividend payments | (59,124) | (54,042) |
Repurchases of common stock | (214,766) | (192,823) |
Proceeds from debt | 575,000 | 265,000 |
Repayment of Debt | (300,000) | |
Sale of business | (1,223) | |
Debt issuance costs | (437) | (12) |
Proceeds from employee stock plans | 42,159 | 38,845 |
Tax benefits from share-based payment arrangements | 9,798 | 13,327 |
Net cash provided by financing activities | 51,407 | 70,295 |
Effect of exchange rate changes on cash and cash equivalents | (3,961) | (3,608) |
Net (decrease) increase in cash and cash equivalents | (66,649) | 28,522 |
Cash and cash equivalents at beginning of period | 228,407 | 158,914 |
Cash and cash equivalents at end of period | $ 161,758 | $ 187,436 |
Note 1 - Organization and Natur
Note 1 - Organization and Nature of Business | 9 Months Ended |
May 31, 2017 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1. FactSet Research Systems Inc. (the “Company” or “FactSet”) is a global provider of integrated financial information, analytical applications and industry-leading service for the global investment community. The Company delivers insight and information to investment professionals through its analytics, service, content, and technology. By integrating comprehensive datasets and analytics across asset classes with client data, FactSet supports the workflow of both the buy-side and sell-side. These professionals include portfolio managers, wealth managers, research and performance analysts, risk managers, sell-side equity research professionals, investment bankers, and fixed income professionals. From streaming real-time data to historical information, including quotes, estimates, news and commentary, FactSet offers unique and third |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation | 9 Months Ended |
May 31, 2017 | |
Notes to Financial Statements | |
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. The unaudited condensed consolidated financial statements of FactSet and the accompanying notes included in this Quarterly Report on Form 10 10 10 August 31, 2016. The Company has evaluated subsequent events through the date that the financial statements were issued. |
Note 3 - Recent Accounting Pron
Note 3 - Recent Accounting Pronouncements | 9 Months Ended |
May 31, 2017 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | 3 . RECENT ACCOUNTING PRONOUNCEMENTS As of the beginning of fiscal 2017, no first nine 2017 Revenue Recognition In May 2014 July 2015, first 2019, 2018 Balance Sheet Classification of Deferred Taxes In November 2015, first 2018, 2017 not Recognition and Measurement of Financial Assets and Financial Liabilities In January 2016, first 2019. Leases In February 2016, first 2020, 2019 Share-Based Payments In March 2016, first 2018. On May 2017, not first 2019, Cash Flow Simplification In August 2016, first 2019. Income Taxes on Intra-Entity Transfer s of Asset s In October 2016, first 2019. Goodwill Impairment Test In January 2017, 2 not first 2021, January 1, 2017. No May 31, 2017 |
Note 4 - Fair Value Measures
Note 4 - Fair Value Measures | 9 Months Ended |
May 31, 2017 | |
Notes to Financial Statements | |
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. 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 may may Level 1 1 Level 2 2. Level 3 no 3 May 31, 2017 August 31, 2016. ( a ) Asse ts 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 May 31, 2017 August 31, 2016: Fair Value Measurements at May 31, 2017 (in thousands) Level 1 Level 2 Level 3 Total Assets Corporate money market funds (1) $ 22,106 $ — $ — $ 22,106 Mutual funds (2) — 15,542 — 15,542 Certificates of deposit ( 3 ) — 16,385 — 16,385 Derivative instruments (4 ) — 5,468 — 5,468 Total assets measured at fair value $ 22,106 $ 37,396 $ — $ 59,502 Liabilities Derivative instruments ( 4 ) $ — $ 596 $ — $ 596 Total liabilities measured at fair value $ — $ 596 $ — $ 596 Fair Value Measurements at August 31, 2016 (in thousands) Level 1 Level 2 Level 3 Total Assets Corporate money market funds (1) $ 92,765 $ — $ — $ 92,765 Certificates of deposit ( 3 ) — 24,217 — 24,217 Derivative instruments ( 4 ) — 869 — 869 Total assets measured at fair value $ 92,765 $ 25,086 $ — $ 117,851 Liabilities Derivative instruments ( 4 ) $ — $ 2,791 $ — $ 2,791 Total liabilities measured at fair value $ — $ 2,791 $ — $ 2,791 ( 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 the Consolidated Balance Sheets. ( 2 The Company’s mutual funds have a fair value based on the fair value of the underlying investments held by the mutual funds allocated to each share of the mutual fund using a net asset value approach . The fair value of the underlying investments is based on observable inputs . As such, the Company’s mutual funds are classified as Level 2 and are classified as i nvestments (short-term) on the Consolidated Balance S heet s . ( 3 The Company’s certificates of deposit held for investment are not 2. three one nvestments (short-term) on the Consolidated Balance S heet s . ( 4 The Company utilizes the income approach to measure fair value for its derivative instruments ( foreign currency 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 1 2 (b) 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 may nine May 31, 2017, no (c) Assets and Liabilities Measured at Fair Value for Disclosure Purposes only As of May 31, 2017 August 31, 2016, $575.0 $300.0 2 |
Note 5 - Derivative Instruments
Note 5 - Derivative Instruments | 9 Months Ended |
May 31, 2017 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 5 . DERIVATIVE INSTRUMENTS Cash Flow Hedges FactSet conducts business outside the U.S. in several currencies including the British Pound Sterling, Euro, Indian Rupee, Japanese Yen and Philippine Peso. As such, it is exposed to movements in foreign currency exchange rates compared to the U.S. dollar. The Company utilizes derivative instruments (foreign currency forward contracts) to manage the exposures related to the effects of foreign exchange rate fluctuations and reduce the volatility of earnings and cash flows associated with changes in foreign currency. The Company does not no first nine 2017 2016, no As of May 31, 2017, ● British Pound Sterling - 50% fourth 2017. ● Indian Rupee 75% third 2019. The following is a summary of all hedging positions and corresponding fair values: (in thousands) Gross Notional Value Fair Value (Liability) Asset Currency Hedged (in U.S. dollars) May 31, 2017 August 31, 2016 May 31, 2017 August 31, 2016 British Pound Sterling $ 7,560 $ 33,280 $ (596 ) $ (2,791 ) Indian Rupee 56,520 58,410 5,468 869 Total $ 64,080 $ 91,690 $ 4,872 $ (1,922 ) As of May 31, 2017, £5.4 4.2 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 not Fair Value of Derivative Instruments The following table provides the fair value of derivative instruments: (in thousands) Designation of Derivatives Balance Sheet Location May 31, 2017 August 31, 2016 Derivatives designated as hedging instruments Assets: Foreign Currency Forward Contracts Prepaid expenses and other current assets $ 2,738 $ 163 Other assets $ 2,730 $ 706 Liabilities: Foreign Currency Forward Contracts Accounts payable and accrued expenses $ 596 $ 2,791 All derivatives were designated as hedging instruments as of May 31, 2017 August 31, 2016, Derivatives in Cash Flow Hedging Relationships The following table provides the pre-tax effect of derivative instruments in cash flow hedging relationships for the three May 31, 2017 2016: (in thousands) Gain Recognized in AOCL on Derivatives Location of Loss into Income Loss Reclassified Derivatives in Cash Flow Hedging Relationships 2017 2016 2017 2016 Foreign currency forward contracts $ 3,467 $ 3,900 SG&A $ (403 ) $ (12 ) The following table provides the pre-tax effect of derivative instruments in cash flow hedging relationships for the nine May 31, 2017 2016: (in thousands) Gain Recognized in AOCL on Derivatives Location of Loss (Loss) Gain Reclassified Derivatives in Cash Flow Hedging Relationships 2017 2016 2017 2016 Foreign currency forward contracts $ 4,006 $ 404 SG&A $ (2,788 ) $ 40 No May 31, 2017, $2.1 12 Offsetting of Derivative Instruments FactSet’s master netting and other similar arrangements with its respective counterparties allow for net settlement under certain conditions. As of May 31, 2017 August 31, 2016, no |
Note 6 - Other Comprehensive In
Note 6 - Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss | 9 Months Ended |
May 31, 2017 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | 6. AND ACCUMULATED OTHER COMPREHENSIVE LOSS The components of other comprehensive income and amounts reclassified out of AOCL into earnings during the three May 31, 2017 2016 May 31, 2017 May 31, 2016 (in thousands) Pre-tax Net of tax Pre-tax Net of tax Foreign currency translation adjustments $ 21,316 $ 21,316 $ 8,883 $ 8,883 Realized loss on cash flow hedges reclassified to earnings (1) 403 247 12 7 Unrealized gain on cash flow hedges recognized in AOCL 3,467 2,138 3,900 2,457 Other comprehensive income $ 25,186 $ 23,701 $ 12,795 $ 11,347 ( 1 Reclassified to Selling, General and Administrative Expenses The components of other comprehensive income (loss) and amounts reclassified out of AOCL into earnings during the nine May 31, 2017 2016 May 31, 2017 May 31, 2016 (in thousands) Pre-tax Net of tax Pre-tax Net of tax Foreign currency translation adjustments $ 10,680 $ 10,680 $ (7,867 ) $ (7,867 ) Realized loss (gain) on cash flow hedges reclassified to earnings (1) 2,788 1,755 (40 ) (25 ) Unrealized gain on cash flow hedges recognized in AOCL 4,006 2,478 404 254 Other comprehensive income ( loss ) $ 17,474 $ 14,913 $ (7,503 ) $ (7,638 ) ( 1 Reclassified to Selling, General and Administrative Expenses The components of AOCL are as follows: (in thousands) May 31, 2017 August 31, 2016 Accumulated unrealized gains (losses) on cash flow hedges, net of tax $ 3,018 $ (1,215 ) Accumulated foreign currency translation adjustments (56,658 ) (67,338 ) Total accumulated other comprehensive loss $ (53,640 ) $ (68,553 ) |
Note 7 - Segment Information
Note 7 - Segment Information | 9 Months Ended |
May 31, 2017 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 7 . SEGMENT INFORMATION Operating segments are defined as components of an enterprise that engage in business activities from which they may FactSet’s operating segments are aligned with how the Company, including its CODMG, manages the business and the demographic markets in which FactSet serves. The Company’s internal financial reporting structure is based on three September 1, 2016, not The U.S. segment services finance professionals including financial institutions throughout the Americas, while the European and Asia Pacific segments service professionals and institutions located throughout Europe and the Asia Pacific region, respectively. The European segment is headquartered in London, England and maintains office locations in France, Germany, Ireland, Italy, Latvia, Luxembourg, the Netherlands, Spain, South Africa, Sweden, Switzerland and Dubai. The Asia Pacific segment is headquartered in Tokyo, Japan with office locations in Australia, Hong Kong, Singapore and India. Segment revenues reflect direct sales to clients based in their respective geographic locations. Each segment records compensation expense, 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 not $695.7 May 31, 2017, 55% 44% 1% The following reflects the results of operations of the segments consistent with the Company’s management system. These results are used by management, both in evaluating the performance of, and in allocating resources to, each of the segments. (in thousands) For the three months ended May 31, 2017 U.S. Europe Asia Pacific Total Revenues from clients $ 197,834 $ 87,327 $ 26,959 $ 312,120 Segment operating profit 34,382 37,766 15,494 87,642 Total assets 708,440 555,366 94,208 1,358,014 Capital expenditures 6,211 515 1,210 7,936 For the three months ended May 31, 2016 U.S. Europe Asia Pacific Total Revenues from clients $ 193,166 $ 70,243 $ 24,092 $ 287,501 Segment operating profit 42,020 33,304 13,966 89,290 Total assets 696,832 264,910 77,233 1,038,975 Capital expenditures 6,060 913 1,260 8,233 For the nine months ended May 31, 2017 U.S. Europe Asia Pacific Total Revenues from clients $ 580,090 $ 235,464 $ 78,983 $ 894,537 Segment operating profit 110,574 114,282 44,851 269,707 Capital expenditures 21,311 1,176 3,494 25,981 For the nine months ended May 31, 2016 U.S. Europe Asia Pacific Total Revenues from clients $ 565,063 $ 206,198 $ 68,540 $ 839,801 Segment operating profit 127,479 95,536 38,927 261,942 Capital expenditures 29,133 2,181 3,357 34,671 |
Note 8 - Business Combinations
Note 8 - Business Combinations | 9 Months Ended |
May 31, 2017 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 8. BISAM On March 17, 2017, $216.9 160 $3.2 2017 Allocation of the purchase price to the assets acquired and liabilities assumed was not May 31, 2017 (i n thousands ) Tangible assets acquired $ 27,642 Amortizable intangible assets Software technology 18,261 Client relationships 37,597 Trade name 741 Goodwill 174,024 Total assets acquired $ 258,265 Liabilities assumed (41,372 ) Net assets acquired $ 216,893 Intangible assets of $56.6 16 five four Goodwill totaling $174.0 not March 17, 2017. not not Vermilion On November 8, 2016, $67.9 59 $0.7 The total purchase price was allocated to Vermilion’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: (i n thousands ) Tangible assets acquired $ 8,242 Amortizable intangible assets Software technology 10,916 Client relationships 5,954 Non-compete agreements 806 Trade name 571 Goodwill 50,832 Total assets acquired $ 77,321 Liabilities assumed (9,434 ) Net assets acquired $ 67,887 Intangible assets of $18.2 15 six three four Goodwill totaling $50.8 not November 8, 2016. not not Portware On October 16, 2015, $263.6 166 $0.7 2016 The total purchase price was allocated to Portware’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: (i n thousands ) Tangible assets acquired $ 9,656 Amortizable intangible assets Software technology 43,000 Client relationships 27,000 Non-compete agreements 3,500 Trade name 2,000 Goodwill 187,378 Total assets acquired $ 272,534 Liabilities assumed (8,951 ) Net assets acquired $ 263,583 Intangible assets of $75.5 16 eight seven five Goodwill totaling $187.4 77% October 16, 2015. not not |
Note 9 - Dispositions
Note 9 - Dispositions | 9 Months Ended |
May 31, 2017 | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | 9 . DISPOSITIONS During the third 2016, July 1, 2016, $165.0 $9.7 $112.5 fourth 2016. second 2017, $1.2 Other Expense The Company assessed the Transaction and the disposal group and determined that the sale did not not |
Note 10 - Goodwill
Note 10 - Goodwill | 9 Months Ended |
May 31, 2017 | |
Notes to Financial Statements | |
Goodwill Disclosure [Text Block] | 10 . GOODWILL Changes in the carrying amount of goodwill by segment for the nine May 31, 2017 (i n thousands ) U.S. Europe Asia Pacific Total Balance at August 31, 2016 $ 367,480 $ 82,280 $ 3,155 $ 452,915 Goodwill acquired during the period 18,233 215,822 — 234,055 Foreign currency translations — 8,901 (204 ) 8,697 Balance at May 31, 2017 $ 385,713 $ 307,003 $ 2,951 $ 695,667 Goodwill is not three no fourth 2016, no first nine 2017, $234.1 |
Note 11 - Intangible Assets
Note 11 - Intangible Assets | 9 Months Ended |
May 31, 2017 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | 1 1 . INTANGIBLE ASSETS FactSet’s identifiable intangible assets consist of acquired content databases, client relationships, software technology, non-compete agreements and trade names resulting from acquisitions, which have been fully integrated into the Company’s operations. The weighted average useful life of FactSet’s acquired identifiable intangible assets at May 31, 2017 11.5 no first nine 2017. No no During the nine May 31, 2017, $92.8 11.5 At May 31, 2017 (in thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Data content $ 33,393 $ 17,917 $ 15,476 Client relationships 97,322 20,291 77,031 Software technology 104,315 27,445 76,870 Non-compete agreements 4,779 1,303 3,476 Trade names 4,041 1,360 2,681 Total $ 243,850 $ 68,316 $ 175,534 At August 31, 2016 (in thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Data content $ 34,167 $ 16,758 $ 17,409 Client relationships 45,185 16,480 28,705 Software technology 62,560 20,545 42,015 Non-compete agreements 4,344 1,118 3,226 Trade names 2,728 922 1,806 Total $ 148,984 $ 55,823 $ 93,161 Amortization expense recorded for intangible assets was $5.8 $4.1 three May 31, 2017 2016, $13.8 $11.1 nine May 31, 2017 2016, May 31, 2017, five Fiscal Year (in thousands) Estimated Amortization Expense 2017 (remaining three months) $ 6,108 2018 23,989 2019 23,148 2020 22,489 2021 20,927 Thereafter 78,873 Total $ 175,534 |
Note 12 - Common Stock and Earn
Note 12 - Common Stock and Earnings Per Share | 9 Months Ended |
May 31, 2017 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 12 . COMMON STOCK AND EARNINGS PER SHARE On May 5, 2017, $0.56 $2.24 $22.0 June 20, 2017 May 31, 2017. Shares of common stock outstanding were as follows: Nine months ended (i n thousands) May 31, 2017 May 31, 2016 Balance at September 1 40,038 41,317 Common stock issued for employee stock plans 585 579 Repurchase of common stock from employees (1) (37 ) (20 ) Repurchase of common stock under the share repurchase program (1,285 ) (1,220 ) Repurchase of common stock under accelerated share repurchase agreement (103 ) — Balance at May 31, 2017 and May 31, 2016, respectively 39,198 40,656 ( 1 For the nine ended May 31, 2017 May 31, 2016 , the Company repurch ased 37,042 19,892 $5.7 $3.3million, ting of restricted stock. A reconciliation of the weighted average shares outstanding used in the basic and diluted earnings per share (“EPS”) computations is as follows: (in thousands, except per share data) Net Income (Numerator) Weighted Average Common Shares (Denominator) Per Share Amount For the three months ended May 31, 2017 Basic EPS Income available to common stockholders $ 65,414 39,317 $ 1.66 Diluted EPS Dilutive effect of stock options and restricted stock 140 Income available to common stockholders plus assumed conversions $ 65,414 39,457 $ 1.66 For the three months ended May 31, 2016 Basic EPS Income available to common stockholders $ 66,781 40,779 $ 1.64 Diluted EPS Dilutive effect of stock options and restricted stock 410 Income available to common stockholders plus assumed conversions $ 66,781 41,189 $ 1.62 For the nine months ended May 31, 2017 Basic EPS Income available to common stockholders $ 198,707 39,528 $ 5.03 Diluted EPS Dilutive effect of stock options and restricted stock 208 Income available to common stockholders plus assumed conversions $ 198,707 39,736 $ 5.00 For the nine months ended May 31, 2016 Basic EPS Income available to common stockholders $ 194,508 41,094 $ 4.73 Diluted EPS Dilutive effect of stock options and restricted stock 502 Income available to common stockholders plus assumed conversions $ 194,508 41,596 $ 4.68 Dilutive potential common shares consist of stock options and unvested restricted stock awards. The number of stock options excluded from the calculation of diluted earnings per share for the three nine May 31, 2017 492,649 three nine May 31, 2016 688,538 For the three nine May 31, 2017, 754,561 . three nine May 31, 2016, 937,089 |
Note 13 - Stockholders' Equity
Note 13 - Stockholders' Equity | 9 Months Ended |
May 31, 2017 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 1 3 . STOCKHOLDERS’ EQUITY Preferred Stock At May 31, 2017 August 31, 2016, 10,000,000 $0.01 no may one Common Stock At May 31, 2017 August 31, 2016, 150,000,000 $.01 51,737,696 51,150,978 Treasury Stock At May 31, 2017 August 31, 2016, 12,539,371 11,112,753 39,198,325 40,038,225 May 31, 2017 August 31, 2016, Share Repurchase Program Repurchases will be made from time to time in the open market and privately negotiated transactions, subject to market conditions. During the first nine 2017, 1,284,822 $208.8 1,220,000 $189.5 March 27, 2017, $300.0 May 31, 2017, $288.2 No no On July 1, 2016, $120.0 595,607 July 5, 2016, 80% first 2017 102,916 Restricted Stock Vesting Restricted stock awards entitle the holder to shares of common stock as the awards vest over time. During the first nine 2017, 101,234 May 31, 2017 ( 37,042 51,762 May 31, 2016 ( 19,892 Dividends The Company’s Board of Directors declared the following historical dividends: Declaration Date Dividends Per Type Record Date Total $ Amount (in thousands) Payment Date May 5, 2017 $ 0.56 Regular (cash) May 31, 2017 $ 21,951 June 20, 2017 February 6, 2017 $ 0.50 Regular (cash) February 28, 2017 $ 19,709 March 21, 2017 November 10, 2016 $ 0.50 Regular (cash) November 30, 2016 $ 19,852 December 20, 2016 August 5, 2016 $ 0.50 Regular (cash) August 31, 2016 $ 20,019 September 20, 2016 May 6, 2016 $ 0.50 Regular (cash) May 31, 2016 $ 20,171 June 21, 2016 February 5, 2016 $ 0.44 Regular (cash) May 31, 2016 $ 18,044 March 15, 2016 November 6, 2015 $ 0.44 Regular (cash) November 30, 2015 $ 18,208 December 15, 2015 August 10, 2015 $ 0.44 Regular (cash) August 31, 2015 $ 18,179 September 15, 2015 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. |
Note 14 - Employee Stock Option
Note 14 - Employee Stock Option and Retirement Plans | 9 Months Ended |
May 31, 2017 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | 1 4 . EMPLOYEE STOCK OPTION AND RETIREMENT PLANS Stock Option Awards The FactSet Research Systems Inc. 2004 December 14, 2020. seven ten five not may Stock Option Activity During the first nine 2017, 767,071 $154.01 May 31, 2017, 3,597,101 $139.97. $58.6 3.4 A summary of stock option activity is as follows: (in thousands, except per share data) Number Outstanding Weighted Average Exercise Price Per Share Balance at August 31, 2016 3,364 $ 129.54 Granted – nonperformance-based 671 $ 152.28 Granted – performance-based 23 $ 159.45 Exercised (199 ) $ 74.56 Forfeited (26 ) $ 147.22 Balance at November 30, 2016 3,833 $ 136.43 Granted – performance-based 62 $ 169.16 Granted – non-employee Directors grant 24 $ 170.24 Exercised (170 ) $ 89.62 Forfeited (50 ) $ 141.50 Balance at February 28, 2017 3,699 $ 139.27 Granted – nonperformance-based 12 $ 163.05 Exercised (62 ) $ 93.25 Forfeited (52 ) $ 151.65 Balance at May 31, 2017 3,597 $ 139.97 The total number of in-the-money options exercisable as of May 31, 2017 0.8 $97.20. August 31, 2016, 1.0 $89.42. May 31, 2017 August 31, 2016 $57.1 $86.0 $165.69 $178.03 May 31, 2017 August 31, 2016, nine May 31, 2017 2016 $34.8 $43.0 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 during the measurement period subsequent to the date of grant. Dependent on the financial performance levels attained by FactSet, a percentage of the performance-based stock options will vest to the grantees of those stock options. However, there is no July 2012 In July 2012, 241,546 20% August 31, 2017. third 2017, five 80%, 193,256, fifth August 31, 2017. $0.1 0.2 February 2015 w In connection with the acquisition of Code Red, FactSet granted 137,522 second 2015. 68,761 two February 28, 2017. 70% February 28, 2019 May 31, 2017, $0.9 1.7 The remaining 68,761 February 2015 four February 28, 2019. May 31, 2017, $0.5 1.7 Vesting Percentage (in thousands) Cumulative Catch-up Adjustment* Remaining Expense to be Recognized 0% $ (694 ) — 10% $ (520 ) $ 127 40% (current expectation) — $ 506 70% $ 520 $ 886 100% $ 1,041 $ 1,265 * Amounts represent the cumulative catch-up adjustment to be recorded if there was a change in the vesting percentage as of May 31, 2017. October 2015 In connection with the acquisition of Portware during the first 2016, 530,418 40% second 20% October 16, 2017. May 31, 2017, not no Vesting Percentage (in thousands) Cumulative Catch-up Adjustment* Remaining Expense to be Recognized 0% (current expectation) — — 50% $ 3,981 $ 8,269 70% $ 5,574 $ 11,577 100% $ 7,963 $ 16,538 * Amounts represent the cumulative catch-up adjustment to be recorded if there was a change in the vesting percentage as of May 31, 2017. FactSet granted 20,911 fourth 2016. October 2015 40% second 20% October 16, 2017. May 31, 2017, not no Vesting Percentage (in thousands) Cumulative Catch-up Adjustment* Remaining Expense to be Recognized 0% (current expectation) — — 50% $ 83 $ 417 70% $ 116 $ 583 100% $ 166 $ 833 * Amounts represent the cumulative catch-up adjustment to be recorded if there was a change in the vesting percentage as of May 31, 2017 . January 2017 Performance-based Option Grant Review In connection with the acquisition of Vermilion, FactSet granted 61,744 January 2017. 40% second 20% November 30, 2018. May 31, 2017, not no Vesting Percentage (in thousands) Cumulative Catch-up Adjustment* Remaining Expense to be Recognized 0% (current expectation) — — 100% $ 202 $ 2,502 * Amounts represent the cumulative catch-up adjustment to be recorded if there was a change in the vesting percentage as of May 31, 2017 . Restricted Stock and Stock Unit Awards The Company’s Option Plan permits the issuance of restricted stock and restricted stock units. Restricted stock awards are subject to continued employment over a specified period. Restricted Stock and Stock Unit Awards Activity During the first nine 2017, 12,927 $157.50. 5.0 As of May 31, 2017, 168,096 $17.5 2.9 A summary of restricted stock award activity is as follows: (in thousands, except per award data) Number Outstanding Weighted Average Grant Date Fair Value Per Award Balance at August 31, 2016 262 $ 126.27 Granted 5 $ 151.63 Vested (1) (95 ) $ 112.70 Balance at November 30, 2016 172 $ 134.02 Granted 8 $ 161.31 Forfeited (3 ) $ 114.42 Vested (2) (6 ) $ 105.91 Balance at February 28, 2017 171 $ 136.65 Forfeited (3 ) $ 116.38 Balance at May 31, 2017 168 $ 136.95 ( 1 Of the 94,877 first 2017, 73,522 November 1, 2013. The remaining 40% tricted stock awards cliff vest after five November 1, 2018 are amortized to expense over the vesting period using the st raight-line attribution method. The other restricted stock awards that vested related primarily to awards granted in November 2015, 20% ( 2 Of the 6,357 restricted stock awards that vested during the second quarter of fiscal 2017, 5,150 related to awards granted on February 3, 2014 . The remaining 40% tricted stock awards cliff vest after five February 3, 2019 and are amortized to expense over the vesting period using the st raight-line attribution method. The other restricted stock awards that vested related to awards granted in February 2015 100% February 9, 2017. Share-based Awards Available for Grant A summary of share-based awards available for grant is as follows: (in thousands) Share-based Awards Available for Grant under the Employee Option Plan Share-based Awards Available for Grant under the Non-Employee Directors Plan Balance at August 31, 2016 1,491 66 Granted – nonperformance-based options (671 ) — Granted – performance-based options (23 ) — Granted – restricted stock awards (1) (12 ) — Share-based awards canceled/forfeited (2) 29 — Balance at November 30, 2016 814 66 Granted – nonperformance-based options — (24 ) Granted – performance-based options (62 ) — Granted – restricted stock awards (1) (20 ) — Share-based awards canceled/forfeited (2) 56 — Balance at February 28, 2017 788 42 Granted – nonperformance-based options (12 ) — Share-based awards canceled/forfeited (2) 58 — Balance at May 31, 2017 834 42 ( 1 Each restricted stock award granted is eq uivalent to 2.5 ( 2 Under the Company’s Option Plan, for each restricted stock award canceled/forfeited, an equivalent of 2.5 Employee Stock Purchase Plan Shares of FactSet common stock may 2008 three 85% first three may not 10% During the three May 31, 2017, 17,314 $140.84 17,538 $131.57 three May 31, 2016. nine May 31, 2017, 54,554 $137.38 53,711 $129.83 nine May 31, 2016. May 31, 2017, 353,990 401 The Company established it 401 1993. 401 1974 1986 may 60% 4% five $7.3 $7.1 401 nine May 31, 2017 2016, |
Note 15 - Stock-based Compensat
Note 15 - Stock-based Compensation | 9 Months Ended |
May 31, 2017 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 1 5 . STOCK-BASED COMPENSATION The Company recognized total stock-based compensation expense of $7.3 $20.9 three nine May 31, 2017, $7.4 $22.4 three nine May 31, 2016, May 31, 2017, $76.1 3.3 no May 31, 2017 August 31, 2016, 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 Q1 2017 671,263 22,460 $152.51 $39.60 Q2 2017 61,744 $169.16 $43.81 Q3 2017 11,604 $163.05 $42.23 Q1 2016 513,785 530,418 $170.21 $46.62 Q2 2016 4,073 $150.81 $40.51 Q3 2016 103,903 $152.10 $40.57 The weighted average estimated fair value of employee stock options granted was determined using the binomial model with the following weighted average assumptions: Three months ended May 31, 2017 May 31, 2016 Term structure of risk-free interest rate 0.49% - 1.89% 0.40% - 1.90% Expected life (years) 7.4 7.5 Term structure of volatility 21% - 29% 24% - 30% Dividend yield 1.18% 1.33% Weighted average estimated fair value $42.23 $40.57 Weighted average exercise price $163.05 $152.10 Fair value as a percentage of exercise price 25.9% 26.7% Nine months ended May 31, 2017 May 31, 2016 Term structure of risk-free interest rate 0.07% - 2.09% 0.07% - 2.12% Expected life (years) 7.4 7.7 Term structure of volatility 21% - 30% 21% - 30% Dividend yield 1.18% 1.09% Weighted average estimated fair value $39.98 $46.05 Weighted average exercise price $154.01 $168.51 Fair value as a percentage of exercise price 26.0% 27.3% 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 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 Non-Employee Director Stock Option Fair Value Determinations The 2008 250,000 42,185 May 31, 2017. December 1, 2018. The Company utilizes the Black-Scholes model to estimate the fair value of 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 Fiscal 201 7 On January 13, 2017, 23,846 one 2,417 December 20, 2016. January 13, 2017 $35.65 Risk-free interest rate 1.95 % Expected life (years) 5.4 Expected volatility 22.7 % Dividend yield 1.24 % Fiscal 2016 On January 15, 2016, 22,559 one 2,417 December 15, 2015. January 15, 2016 $31.03 Risk-free interest rate 1.62 % Expected life (years) 5.4 Expected volatility 23.0 % Dividend yield 1.05 % Restricted Stock Fair Value Determinations Restricted stock granted to employees entitles the holder to shares of common stock as the award vests over time, but not first nine 2017, 12,927 $157.50. first nine 2016, 93,375 $159.42. Employee Stock Purchase Plan Fair Value Determinations During the three May 31, 2017, 17,314 $140.84 17,538 $131.57 three May 31, 2016. nine May 31, 2017, 54,554 $137.38 53,711 $129.83 nine May 31, 2016. three May 31, 2017 2016, $0.5 $0.4 nine May 31, 2017 2016, $1.5 $1.4 The weighted average estimated fair value for the ESPP was calculated using the Black-Scholes model with the following assumptions: Three months ended May 31, 2017 May 31, 2016 Risk-free interest rate 0.81 % 0.27 % Expected life (months) 3 3 Expected volatility 8.3 % 11.53 % Dividend yield 1.24 % 1.29 % Weighted average estimated fair value $ 29.84 $ 26.07 Nine months ended May 31, 2017 May 31, 2016 Risk-free interest rate 0.56 % 0.20 % Expected life (months) 3 3 Expected volatility 8.7 % 11.42 % Dividend yield 1.21 % 1.15 % Weighted average estimated fair value $ 28.48 $ 27.19 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 no |
Note 16 - Income Taxes
Note 16 - Income Taxes | 9 Months Ended |
May 31, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 1 6 . 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: Three months ended Nine months ended (in thousands) May 31, 2017 May 31, 2016 May 31, 2017 May 31, 2016 Income before income taxes $ 85,229 $ 88,857 $ 264,539 $ 261,177 Total provision for income taxes $ 19,815 $ 22,076 $ 65,832 $ 66,669 Effective tax rate 23.2 % 24.8 % 24.9 % 25.5% (1) ( 1 In December 2015, 2016 “2016 December 31, 2014. January 1, 2015 2016 not not $7.3 second 2016 for the nine May 31, 2016 25.5 %. FactSet’s effective tax rate is based on recurring factors and nonrecurring events, including the taxation of foreign income. The Company’s effective tax rate will vary based on, among other things, changes in levels of foreign income, as well as discrete and other nonrecurring events that may not 35.0 FactSet Operational Realignment Effective September 1, 2016, 250 2017 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) May 31, 2017 August 31, 2016 Current Receivable reserve $ 619 $ 531 Deferred rent 1,184 1,022 Other 820 1,605 Net current deferred tax assets $ 2,623 $ 3,158 Non-current Depreciation on property, equipment and leasehold improvements $ 3,335 $ 5,194 Deferred rent 10,539 9,626 Stock-based compensation 18,154 19,927 Purchased intangible assets, including acquired technology (31,495 ) (24,645 ) Other 4,566 3,304 Net non-current deferred tax assets $ 5,099 $ 13,406 Total deferred tax assets $ 7,722 $ 16,564 The significant components of deferred tax liabilities that are recorded in the Consolidated Balance Sheets were as follows: (in thousands) May 31, 2017 August 31, 2016 Current Other $ 1,781 $ 291 Net current deferred tax liabilities $ 1,781 $ 291 Non-current Stock-based compensation $ (944 ) $ — Depreciation on property, equipment and leasehold improvements (441 ) — Purchased intangible assets, including acquired technology 25,928 1,666 Other (1,504 ) 42 Net non-current deferred tax liabilities $ 23,039 $ 1,708 Total deferred tax liabilities $ 24,820 $ 1,999 No May 31, 2017, not no may may not may 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 50% no fifty As of May 31, 2017, $10.8 $1.3 N on-current taxes payable not may 12 no not 12 The following table summarizes the changes in the balance of gross unrecognized tax benefits during the first nine 2017: (in thousands) Unrecognized income tax benefits at August 31, 2016 $ 8,782 Additions based on tax positions related to the current year 1,359 Additions for tax positions of prior years 2,461 Statute of limitations lapse (1,822 ) Unrecognized income tax benefits at May 31, 2017 $ 10,780 In the normal course of business, the Company’s tax filings are subject to audit by federal, state and foreign tax authorities. At May 31, 2017, Major Tax Jurisdictions Open Tax Years U.S. Federal 2014 through 2017 State (various) 2010 through 2017 Europe France 2013 through 2017 United Kingdom 2012 through 2017 |
Note 17 - Long-term Debt
Note 17 - Long-term Debt | 9 Months Ended |
May 31, 2017 | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | 17. FactSet’s debt obligations consisted of the following: (in thousands) May 31, 2017 August 31, 2016 2017 Revolving Credit Facility $ 575,000 $ — 2015 Revolving Credit Facility — 300,000 Total Outstanding Debt $ 575,000 $ 300,000 On March 17, 2017, “2017 2017 $575.0 “2017 may 2017 March 17, 2020. 2017 $225.0 $25.0 1.00%. no In conjunction with FactSet’s entrance into the 2017 $575.0 2017 $365.0 no 2017 All outstanding loan amounts are reported as Long-term debt May 31, 2017. three May 31, 2017 2016, $2.9 $0.9 nine May 31, 2017 2016, $5.3 $2.2 As of May 31, 2017, no 2017 2017, $0.4 2017 The 2017 In addition, the 2017 2017 May 31, 2017. |
Note 18 - Commitments and Conti
Note 18 - Commitments and Contingencies | 9 Months Ended |
May 31, 2017 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 18 . COMMITMENTS AND CONTINGENCIES Commitments represent obligations, such as those for future purchases of goods or services that are not commitments when incurred ( i.e. Lease Commitments At May 31, 2017, 202,000 2017, 1,226,000 May 31, 2017, 154,000 14.4%, August 31, 2016. 2017 2, Properties 10 August 31, 2016. 2031. May 31, 2017 Total minimum rental payments associated with the leases are recorded as rent expense (a component of SG&A May 31, 2017 Years ended August 31, (in thousands) Minimum Lease Payments 2017 (remaining three months) $ 8,659 2018 36,006 2019 33,161 2020 26,628 2021 20,473 Thereafter 156,742 Total $ 281,669 Rent expense (including operating costs) for all operating leases amounted to $12.4 $11.1 three May 31, 2017 2016, $35.3 $32.0 nine May 31, 2017 2016, May 31, 2017 and August 31, 2016, $37.2 $34.4 $33.9 $31.2 Deferred Rent and Other Non-Current Liabilities Approximately $1.9 May 31, 2017 . 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 May 31, 2017 , FactSet was in compliance with all covenants contained in the standby letters of credit. 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. At August 31, 2016, $67.5 no first nine 2017. Contingencies Income Taxes Uncertain income tax positions are accounted for in accordance with applicable accounting guidance (see Note 16 may not no 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 at May 31, 2017, not 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 no may Concentrations of Credit Risk Cash equivalents Cash and cash equivalents are maintained primarily with four may may Accounts Receivable Accounts receivable are unsecured and derived from revenues earned from clients located around the globe. FactSet does not No 10% May 31, 2017, 2% ten not 15% August 31, 2016. May 31, 2017 $1.7 $1.5 August 31, 2016 . 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 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 |
Note 4 - Fair Value Measures (T
Note 4 - Fair Value Measures (Tables) | 9 Months Ended |
May 31, 2017 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at May 31, 2017 (in thousands) Level 1 Level 2 Level 3 Total Assets Corporate money market funds (1) $ 22,106 $ — $ — $ 22,106 Mutual funds (2) — 15,542 — 15,542 Certificates of deposit ( 3 ) — 16,385 — 16,385 Derivative instruments (4 ) — 5,468 — 5,468 Total assets measured at fair value $ 22,106 $ 37,396 $ — $ 59,502 Liabilities Derivative instruments ( 4 ) $ — $ 596 $ — $ 596 Total liabilities measured at fair value $ — $ 596 $ — $ 596 Fair Value Measurements at August 31, 2016 (in thousands) Level 1 Level 2 Level 3 Total Assets Corporate money market funds (1) $ 92,765 $ — $ — $ 92,765 Certificates of deposit ( 3 ) — 24,217 — 24,217 Derivative instruments ( 4 ) — 869 — 869 Total assets measured at fair value $ 92,765 $ 25,086 $ — $ 117,851 Liabilities Derivative instruments ( 4 ) $ — $ 2,791 $ — $ 2,791 Total liabilities measured at fair value $ — $ 2,791 $ — $ 2,791 |
Note 5 - Derivative Instrumen27
Note 5 - Derivative Instruments (Tables) | 9 Months Ended |
May 31, 2017 | |
Notes Tables | |
Schedule of Foreign Exchange Contracts, Statement of Financial Position [Table Text Block] | (in thousands) Gross Notional Value Fair Value (Liability) Asset Currency Hedged (in U.S. dollars) May 31, 2017 August 31, 2016 May 31, 2017 August 31, 2016 British Pound Sterling $ 7,560 $ 33,280 $ (596 ) $ (2,791 ) Indian Rupee 56,520 58,410 5,468 869 Total $ 64,080 $ 91,690 $ 4,872 $ (1,922 ) |
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block] | (in thousands) Designation of Derivatives Balance Sheet Location May 31, 2017 August 31, 2016 Derivatives designated as hedging instruments Assets: Foreign Currency Forward Contracts Prepaid expenses and other current assets $ 2,738 $ 163 Other assets $ 2,730 $ 706 Liabilities: Foreign Currency Forward Contracts Accounts payable and accrued expenses $ 596 $ 2,791 |
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block] | (in thousands) Gain Recognized in AOCL on Derivatives Location of Loss into Income Loss Reclassified Derivatives in Cash Flow Hedging Relationships 2017 2016 2017 2016 Foreign currency forward contracts $ 3,467 $ 3,900 SG&A $ (403 ) $ (12 ) (in thousands) Gain Recognized in AOCL on Derivatives Location of Loss (Loss) Gain Reclassified Derivatives in Cash Flow Hedging Relationships 2017 2016 2017 2016 Foreign currency forward contracts $ 4,006 $ 404 SG&A $ (2,788 ) $ 40 |
Note 6 - Other Comprehensive 28
Note 6 - Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss (Tables) | 9 Months Ended |
May 31, 2017 | |
Notes Tables | |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | May 31, 2017 May 31, 2016 (in thousands) Pre-tax Net of tax Pre-tax Net of tax Foreign currency translation adjustments $ 21,316 $ 21,316 $ 8,883 $ 8,883 Realized loss on cash flow hedges reclassified to earnings (1) 403 247 12 7 Unrealized gain on cash flow hedges recognized in AOCL 3,467 2,138 3,900 2,457 Other comprehensive income $ 25,186 $ 23,701 $ 12,795 $ 11,347 May 31, 2017 May 31, 2016 (in thousands) Pre-tax Net of tax Pre-tax Net of tax Foreign currency translation adjustments $ 10,680 $ 10,680 $ (7,867 ) $ (7,867 ) Realized loss (gain) on cash flow hedges reclassified to earnings (1) 2,788 1,755 (40 ) (25 ) Unrealized gain on cash flow hedges recognized in AOCL 4,006 2,478 404 254 Other comprehensive income ( loss ) $ 17,474 $ 14,913 $ (7,503 ) $ (7,638 ) |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | (in thousands) May 31, 2017 August 31, 2016 Accumulated unrealized gains (losses) on cash flow hedges, net of tax $ 3,018 $ (1,215 ) Accumulated foreign currency translation adjustments (56,658 ) (67,338 ) Total accumulated other comprehensive loss $ (53,640 ) $ (68,553 ) |
Note 7 - Segment Information (T
Note 7 - Segment Information (Tables) | 9 Months Ended |
May 31, 2017 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | (in thousands) For the three months ended May 31, 2017 U.S. Europe Asia Pacific Total Revenues from clients $ 197,834 $ 87,327 $ 26,959 $ 312,120 Segment operating profit 34,382 37,766 15,494 87,642 Total assets 708,440 555,366 94,208 1,358,014 Capital expenditures 6,211 515 1,210 7,936 For the three months ended May 31, 2016 U.S. Europe Asia Pacific Total Revenues from clients $ 193,166 $ 70,243 $ 24,092 $ 287,501 Segment operating profit 42,020 33,304 13,966 89,290 Total assets 696,832 264,910 77,233 1,038,975 Capital expenditures 6,060 913 1,260 8,233 For the nine months ended May 31, 2017 U.S. Europe Asia Pacific Total Revenues from clients $ 580,090 $ 235,464 $ 78,983 $ 894,537 Segment operating profit 110,574 114,282 44,851 269,707 Capital expenditures 21,311 1,176 3,494 25,981 For the nine months ended May 31, 2016 U.S. Europe Asia Pacific Total Revenues from clients $ 565,063 $ 206,198 $ 68,540 $ 839,801 Segment operating profit 127,479 95,536 38,927 261,942 Capital expenditures 29,133 2,181 3,357 34,671 |
Note 8 - Business Combinations
Note 8 - Business Combinations (Tables) | 9 Months Ended |
May 31, 2017 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | (i n thousands ) Tangible assets acquired $ 27,642 Amortizable intangible assets Software technology 18,261 Client relationships 37,597 Trade name 741 Goodwill 174,024 Total assets acquired $ 258,265 Liabilities assumed (41,372 ) Net assets acquired $ 216,893 (i n thousands ) Tangible assets acquired $ 8,242 Amortizable intangible assets Software technology 10,916 Client relationships 5,954 Non-compete agreements 806 Trade name 571 Goodwill 50,832 Total assets acquired $ 77,321 Liabilities assumed (9,434 ) Net assets acquired $ 67,887 (i n thousands ) Tangible assets acquired $ 9,656 Amortizable intangible assets Software technology 43,000 Client relationships 27,000 Non-compete agreements 3,500 Trade name 2,000 Goodwill 187,378 Total assets acquired $ 272,534 Liabilities assumed (8,951 ) Net assets acquired $ 263,583 |
Note 10 - Goodwill (Tables)
Note 10 - Goodwill (Tables) | 9 Months Ended |
May 31, 2017 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | (i n thousands ) U.S. Europe Asia Pacific Total Balance at August 31, 2016 $ 367,480 $ 82,280 $ 3,155 $ 452,915 Goodwill acquired during the period 18,233 215,822 — 234,055 Foreign currency translations — 8,901 (204 ) 8,697 Balance at May 31, 2017 $ 385,713 $ 307,003 $ 2,951 $ 695,667 |
Note 11 - Intangible Assets (Ta
Note 11 - Intangible Assets (Tables) | 9 Months Ended |
May 31, 2017 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | At May 31, 2017 (in thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Data content $ 33,393 $ 17,917 $ 15,476 Client relationships 97,322 20,291 77,031 Software technology 104,315 27,445 76,870 Non-compete agreements 4,779 1,303 3,476 Trade names 4,041 1,360 2,681 Total $ 243,850 $ 68,316 $ 175,534 At August 31, 2016 (in thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Data content $ 34,167 $ 16,758 $ 17,409 Client relationships 45,185 16,480 28,705 Software technology 62,560 20,545 42,015 Non-compete agreements 4,344 1,118 3,226 Trade names 2,728 922 1,806 Total $ 148,984 $ 55,823 $ 93,161 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Fiscal Year (in thousands) Estimated Amortization Expense 2017 (remaining three months) $ 6,108 2018 23,989 2019 23,148 2020 22,489 2021 20,927 Thereafter 78,873 Total $ 175,534 |
Note 12 - Common Stock and Ea33
Note 12 - Common Stock and Earnings Per Share (Tables) | 9 Months Ended |
May 31, 2017 | |
Notes Tables | |
Schedule of Stock by Class [Table Text Block] | Nine months ended (i n thousands) May 31, 2017 May 31, 2016 Balance at September 1 40,038 41,317 Common stock issued for employee stock plans 585 579 Repurchase of common stock from employees (1) (37 ) (20 ) Repurchase of common stock under the share repurchase program (1,285 ) (1,220 ) Repurchase of common stock under accelerated share repurchase agreement (103 ) — Balance at May 31, 2017 and May 31, 2016, respectively 39,198 40,656 |
Schedule of Weighted Average Number of Shares [Table Text Block] | (in thousands, except per share data) Net Income (Numerator) Weighted Average Common Shares (Denominator) Per Share Amount For the three months ended May 31, 2017 Basic EPS Income available to common stockholders $ 65,414 39,317 $ 1.66 Diluted EPS Dilutive effect of stock options and restricted stock 140 Income available to common stockholders plus assumed conversions $ 65,414 39,457 $ 1.66 For the three months ended May 31, 2016 Basic EPS Income available to common stockholders $ 66,781 40,779 $ 1.64 Diluted EPS Dilutive effect of stock options and restricted stock 410 Income available to common stockholders plus assumed conversions $ 66,781 41,189 $ 1.62 For the nine months ended May 31, 2017 Basic EPS Income available to common stockholders $ 198,707 39,528 $ 5.03 Diluted EPS Dilutive effect of stock options and restricted stock 208 Income available to common stockholders plus assumed conversions $ 198,707 39,736 $ 5.00 For the nine months ended May 31, 2016 Basic EPS Income available to common stockholders $ 194,508 41,094 $ 4.73 Diluted EPS Dilutive effect of stock options and restricted stock 502 Income available to common stockholders plus assumed conversions $ 194,508 41,596 $ 4.68 |
Note 13 - Stockholders' Equity
Note 13 - Stockholders' Equity (Tables) | 9 Months Ended |
May 31, 2017 | |
Notes Tables | |
Dividends Declared [Table Text Block] | Declaration Date Dividends Per Type Record Date Total $ Amount (in thousands) Payment Date May 5, 2017 $ 0.56 Regular (cash) May 31, 2017 $ 21,951 June 20, 2017 February 6, 2017 $ 0.50 Regular (cash) February 28, 2017 $ 19,709 March 21, 2017 November 10, 2016 $ 0.50 Regular (cash) November 30, 2016 $ 19,852 December 20, 2016 August 5, 2016 $ 0.50 Regular (cash) August 31, 2016 $ 20,019 September 20, 2016 May 6, 2016 $ 0.50 Regular (cash) May 31, 2016 $ 20,171 June 21, 2016 February 5, 2016 $ 0.44 Regular (cash) May 31, 2016 $ 18,044 March 15, 2016 November 6, 2015 $ 0.44 Regular (cash) November 30, 2015 $ 18,208 December 15, 2015 August 10, 2015 $ 0.44 Regular (cash) August 31, 2015 $ 18,179 September 15, 2015 |
Note 14 - Employee Stock Opti35
Note 14 - Employee Stock Option and Retirement Plans (Tables) | 9 Months Ended |
May 31, 2017 | |
Notes Tables | |
Schedule of Share-based Compensation, Stock Options and Stock Appreciation Rights Award Activity [Table Text Block] | (in thousands, except per share data) Number Outstanding Weighted Average Exercise Price Per Share Balance at August 31, 2016 3,364 $ 129.54 Granted – nonperformance-based 671 $ 152.28 Granted – performance-based 23 $ 159.45 Exercised (199 ) $ 74.56 Forfeited (26 ) $ 147.22 Balance at November 30, 2016 3,833 $ 136.43 Granted – performance-based 62 $ 169.16 Granted – non-employee Directors grant 24 $ 170.24 Exercised (170 ) $ 89.62 Forfeited (50 ) $ 141.50 Balance at February 28, 2017 3,699 $ 139.27 Granted – nonperformance-based 12 $ 163.05 Exercised (62 ) $ 93.25 Forfeited (52 ) $ 151.65 Balance at May 31, 2017 3,597 $ 139.97 |
Schedule of Share-based Compensation Vesting Percentage and Related Expenses [Table Text Block] | Vesting Percentage (in thousands) Cumulative Catch-up Adjustment* Remaining Expense to be Recognized 0% $ (694 ) — 10% $ (520 ) $ 127 40% (current expectation) — $ 506 70% $ 520 $ 886 100% $ 1,041 $ 1,265 Vesting Percentage (in thousands) Cumulative Catch-up Adjustment* Remaining Expense to be Recognized 0% (current expectation) — — 50% $ 3,981 $ 8,269 70% $ 5,574 $ 11,577 100% $ 7,963 $ 16,538 Vesting Percentage (in thousands) Cumulative Catch-up Adjustment* Remaining Expense to be Recognized 0% (current expectation) — — 50% $ 83 $ 417 70% $ 116 $ 583 100% $ 166 $ 833 Vesting Percentage (in thousands) Cumulative Catch-up Adjustment* Remaining Expense to be Recognized 0% (current expectation) — — 100% $ 202 $ 2,502 |
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | (in thousands, except per award data) Number Outstanding Weighted Average Grant Date Fair Value Per Award Balance at August 31, 2016 262 $ 126.27 Granted 5 $ 151.63 Vested (1) (95 ) $ 112.70 Balance at November 30, 2016 172 $ 134.02 Granted 8 $ 161.31 Forfeited (3 ) $ 114.42 Vested (2) (6 ) $ 105.91 Balance at February 28, 2017 171 $ 136.65 Forfeited (3 ) $ 116.38 Balance at May 31, 2017 168 $ 136.95 |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | (in thousands) Share-based Awards Available for Grant under the Employee Option Plan Share-based Awards Available for Grant under the Non-Employee Directors Plan Balance at August 31, 2016 1,491 66 Granted – nonperformance-based options (671 ) — Granted – performance-based options (23 ) — Granted – restricted stock awards (1) (12 ) — Share-based awards canceled/forfeited (2) 29 — Balance at November 30, 2016 814 66 Granted – nonperformance-based options — (24 ) Granted – performance-based options (62 ) — Granted – restricted stock awards (1) (20 ) — Share-based awards canceled/forfeited (2) 56 — Balance at February 28, 2017 788 42 Granted – nonperformance-based options (12 ) — Share-based awards canceled/forfeited (2) 58 — Balance at May 31, 2017 834 42 |
Note 15 - Stock-based Compens36
Note 15 - Stock-based Compensation (Tables) | 9 Months Ended |
May 31, 2017 | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Three months ended May 31, 2017 May 31, 2016 Term structure of risk-free interest rate 0.49% - 1.89% 0.40% - 1.90% Expected life (years) 7.4 7.5 Term structure of volatility 21% - 29% 24% - 30% Dividend yield 1.18% 1.33% Weighted average estimated fair value $42.23 $40.57 Weighted average exercise price $163.05 $152.10 Fair value as a percentage of exercise price 25.9% 26.7% Nine months ended May 31, 2017 May 31, 2016 Term structure of risk-free interest rate 0.07% - 2.09% 0.07% - 2.12% Expected life (years) 7.4 7.7 Term structure of volatility 21% - 30% 21% - 30% Dividend yield 1.18% 1.09% Weighted average estimated fair value $39.98 $46.05 Weighted average exercise price $154.01 $168.51 Fair value as a percentage of exercise price 26.0% 27.3% |
The 2008 Employee Stock Purchase Plan [Member] | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Three months ended May 31, 2017 May 31, 2016 Risk-free interest rate 0.81 % 0.27 % Expected life (months) 3 3 Expected volatility 8.3 % 11.53 % Dividend yield 1.24 % 1.29 % Weighted average estimated fair value $ 29.84 $ 26.07 Nine months ended May 31, 2017 May 31, 2016 Risk-free interest rate 0.56 % 0.20 % Expected life (months) 3 3 Expected volatility 8.7 % 11.42 % Dividend yield 1.21 % 1.15 % Weighted average estimated fair value $ 28.48 $ 27.19 |
Non Employee Directors Stock Option Plan [Member] | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Risk-free interest rate 1.95 % Expected life (years) 5.4 Expected volatility 22.7 % Dividend yield 1.24 % Risk-free interest rate 1.62 % Expected life (years) 5.4 Expected volatility 23.0 % Dividend yield 1.05 % |
Note 16 - Income Taxes (Tables)
Note 16 - Income Taxes (Tables) | 9 Months Ended |
May 31, 2017 | |
Notes Tables | |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Three months ended Nine months ended (in thousands) May 31, 2017 May 31, 2016 May 31, 2017 May 31, 2016 Income before income taxes $ 85,229 $ 88,857 $ 264,539 $ 261,177 Total provision for income taxes $ 19,815 $ 22,076 $ 65,832 $ 66,669 Effective tax rate 23.2 % 24.8 % 24.9 % 25.5% (1) |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | (in thousands) May 31, 2017 August 31, 2016 Current Receivable reserve $ 619 $ 531 Deferred rent 1,184 1,022 Other 820 1,605 Net current deferred tax assets $ 2,623 $ 3,158 Non-current Depreciation on property, equipment and leasehold improvements $ 3,335 $ 5,194 Deferred rent 10,539 9,626 Stock-based compensation 18,154 19,927 Purchased intangible assets, including acquired technology (31,495 ) (24,645 ) Other 4,566 3,304 Net non-current deferred tax assets $ 5,099 $ 13,406 Total deferred tax assets $ 7,722 $ 16,564 (in thousands) May 31, 2017 August 31, 2016 Current Other $ 1,781 $ 291 Net current deferred tax liabilities $ 1,781 $ 291 Non-current Stock-based compensation $ (944 ) $ — Depreciation on property, equipment and leasehold improvements (441 ) — Purchased intangible assets, including acquired technology 25,928 1,666 Other (1,504 ) 42 Net non-current deferred tax liabilities $ 23,039 $ 1,708 Total deferred tax liabilities $ 24,820 $ 1,999 |
Summary of Income Tax Contingencies [Table Text Block] | (in thousands) Unrecognized income tax benefits at August 31, 2016 $ 8,782 Additions based on tax positions related to the current year 1,359 Additions for tax positions of prior years 2,461 Statute of limitations lapse (1,822 ) Unrecognized income tax benefits at May 31, 2017 $ 10,780 |
Summary of Income Tax Examinations [Table Text Block] | Major Tax Jurisdictions Open Tax Years U.S. Federal 2014 through 2017 State (various) 2010 through 2017 Europe France 2013 through 2017 United Kingdom 2012 through 2017 |
Note 17 - Long-term Debt (Table
Note 17 - Long-term Debt (Tables) | 9 Months Ended |
May 31, 2017 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | (in thousands) May 31, 2017 August 31, 2016 2017 Revolving Credit Facility $ 575,000 $ — 2015 Revolving Credit Facility — 300,000 Total Outstanding Debt $ 575,000 $ 300,000 |
Note 18 - Commitments and Con39
Note 18 - Commitments and Contingencies (Tables) | 9 Months Ended |
May 31, 2017 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Years ended August 31, (in thousands) Minimum Lease Payments 2017 (remaining three months) $ 8,659 2018 36,006 2019 33,161 2020 26,628 2021 20,473 Thereafter 156,742 Total $ 281,669 |
Note 4 - Fair Value Measures (D
Note 4 - Fair Value Measures (Details Textual) - USD ($) $ in Millions | May 31, 2017 | Aug. 31, 2016 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Long-term Debt, Fair Value | $ 575 | $ 300 |
Note 4 - Fair Value Measures -
Note 4 - Fair Value Measures - Assets and Liabilities Measured at Fair Value (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands | May 31, 2017 | Aug. 31, 2016 | |
Total assets measured at fair value | $ 59,502 | $ 117,851 | |
Derivative instruments | [1] | 596 | 2,791 |
Total liabilities measured at fair value | 596 | 2,791 | |
Derivative instruments | [1] | 5,468 | 869 |
Money Market Funds [Member] | |||
Corporate money market funds | [2] | 22,106 | 92,765 |
Mutual Funds [Member] | |||
Mutual funds | [3] | 15,542 | |
Certificates of Deposit [Member] | |||
Certificates of deposit | [4] | 16,385 | 24,217 |
Fair Value, Inputs, Level 1 [Member] | |||
Total assets measured at fair value | 22,106 | 92,765 | |
Derivative instruments | [1] | ||
Total liabilities measured at fair value | |||
Derivative instruments | [1] | ||
Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member] | |||
Corporate money market funds | [2] | 22,106 | 92,765 |
Fair Value, Inputs, Level 1 [Member] | Mutual Funds [Member] | |||
Mutual funds | [3] | ||
Fair Value, Inputs, Level 1 [Member] | Certificates of Deposit [Member] | |||
Certificates of deposit | [4] | ||
Fair Value, Inputs, Level 2 [Member] | |||
Total assets measured at fair value | 37,396 | 25,086 | |
Derivative instruments | [1] | 596 | 2,791 |
Total liabilities measured at fair value | 596 | 2,791 | |
Derivative instruments | [1] | 5,468 | 869 |
Fair Value, Inputs, Level 2 [Member] | Money Market Funds [Member] | |||
Corporate money market funds | [2] | ||
Fair Value, Inputs, Level 2 [Member] | Mutual Funds [Member] | |||
Mutual funds | [3] | 15,542 | |
Fair Value, Inputs, Level 2 [Member] | Certificates of Deposit [Member] | |||
Certificates of deposit | [4] | 16,385 | 24,217 |
Fair Value, Inputs, Level 3 [Member] | |||
Total assets measured at fair value | |||
Derivative instruments | [1] | ||
Total liabilities measured at fair value | |||
Derivative instruments | [1] | ||
Fair Value, Inputs, Level 3 [Member] | Money Market Funds [Member] | |||
Corporate money market funds | [2] | ||
Fair Value, Inputs, Level 3 [Member] | Mutual Funds [Member] | |||
Mutual funds | [3] | ||
Fair Value, Inputs, Level 3 [Member] | Certificates of Deposit [Member] | |||
Certificates of deposit | [4] | ||
[1] | The Company utilizes the income approach to measure fair value for its derivative instruments (foreign currency 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. | ||
[2] | 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 Sheets. | ||
[3] | The Company's mutual funds have a fair value based on the fair value of the underlying investments held by the mutual funds allocated to each share of the mutual fund using a net asset value approach. The fair value of the underlying investments is based on observable inputs. As such, the Company's mutual funds are classified as Level 2 and are classified as investments (short-term) on the Consolidated Balance Sheets. | ||
[4] | 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 Consolidated Balance Sheets. |
Note 5 - Derivative Instrumen42
Note 5 - Derivative Instruments (Details Textual) $ in Thousands, £ in Millions, ₨ in Billions | 9 Months Ended | |||
May 31, 2017USD ($) | May 31, 2017GBP (£) | May 31, 2017INR (₨) | Aug. 31, 2016USD ($) | |
Foreign Exchange Contract [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | ||||
Derivative Asset, Notional Amount | $ 64,080 | £ 5.4 | ₨ 4.2 | $ 91,690 |
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimated Net Amount to be Transferred | $ 2,100 | |||
United Kingdom, Pounds | ||||
Percent of Foreign Exchange Contracts Hedged | 50.00% | |||
United Kingdom, Pounds | Foreign Exchange Contract [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | ||||
Derivative Asset, Notional Amount | $ 7,560 | 33,280 | ||
India, Rupees | ||||
Percent of Foreign Exchange Contracts Hedged | 75.00% | |||
India, Rupees | Foreign Exchange Contract [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | ||||
Derivative Asset, Notional Amount | $ 56,520 | $ 58,410 |
Note 5 - Derivative Instrumen43
Note 5 - Derivative Instruments - Hedging Positions and Corresponding Fair Values (Details) - Designated as Hedging Instrument [Member] - Foreign Exchange Contract [Member] - Cash Flow Hedging [Member] $ in Thousands, £ in Millions, ₨ in Billions | May 31, 2017USD ($) | May 31, 2017GBP (£) | May 31, 2017INR (₨) | Aug. 31, 2016USD ($) |
Gross Notional Value | $ 64,080 | £ 5.4 | ₨ 4.2 | $ 91,690 |
Fair Value Asset (Liability) | 4,872 | (1,922) | ||
United Kingdom, Pounds | ||||
Gross Notional Value | 7,560 | 33,280 | ||
Fair Value Asset (Liability) | (596) | (2,791) | ||
India, Rupees | ||||
Gross Notional Value | 56,520 | 58,410 | ||
Fair Value Asset (Liability) | $ 5,468 | $ 869 |
Note 5 - Derivative Instrumen44
Note 5 - Derivative Instruments - Fair Value Amounts of Derivative Instruments and Gains (Details) - Foreign Exchange Contract [Member] - Cash Flow Hedging [Member] - Designated as Hedging Instrument [Member] - USD ($) $ in Thousands | May 31, 2017 | Aug. 31, 2016 |
Prepaid Expenses and Other Current Assets [Member] | ||
Derivative assets | $ 2,738 | $ 163 |
Other Assets [Member] | ||
Derivative assets | 2,730 | 706 |
Accounts Payable and Accrued Liabilities [Member] | ||
Derivative liabilities | $ 596 | $ 2,791 |
Note 5 - Derivative Instrumen45
Note 5 - Derivative Instruments - Derivatives in Cash Flow Hedging Relationships (Details) - Cash Flow Hedging [Member] - Designated as Hedging Instrument [Member] - Foreign Exchange Contract [Member] - Selling, General and Administrative Expenses [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
May 31, 2017 | May 31, 2016 | May 31, 2017 | May 31, 2016 | |
Foreign currency forward contracts | $ (403) | $ (12) | $ (2,788) | $ 40 |
Foreign currency forward contracts | $ 3,467 | $ 3,900 | $ 4,006 | $ 404 |
Note 6 - Other Comprehensive (L
Note 6 - Other Comprehensive (Loss) Income and Accumulated Other Comprehensive Loss - Reclassified Out of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
May 31, 2017 | May 31, 2016 | May 31, 2017 | May 31, 2016 | ||
Unrealized gain on cash flow hedges recognized in AOCL | $ 3,467 | $ 3,900 | $ 4,006 | $ 404 | |
Unrealized gain on cash flow hedges recognized in AOCL | 2,138 | 2,457 | 2,478 | 254 | |
Other comprehensive income (loss) | 25,186 | 12,795 | 17,474 | (7,503) | |
Other comprehensive income (loss) | 23,701 | 11,347 | 14,913 | (7,638) | |
Foreign currency translation adjustments | 21,316 | 8,883 | 10,680 | (7,867) | |
Foreign currency translation adjustments | 21,316 | 8,883 | 10,680 | (7,867) | |
Realized loss (gain) on cash flow hedges reclassified to earnings | [1] | 403 | 12 | 2,788 | (40) |
Realized loss (gain) on cash flow hedges reclassified to earnings | [1] | $ 247 | $ 7 | $ 1,755 | $ (25) |
[1] | Reclassified to Selling, General and Administrative Expenses |
Note 6 - Other Comprehensive 47
Note 6 - Other Comprehensive (Loss) Income and Accumulated Other Comprehensive Loss - Components of Other Comprehensive Loss (Details) - USD ($) $ in Thousands | May 31, 2017 | Aug. 31, 2016 |
Accumulated unrealized gains (losses) on cash flow hedges, net of tax | $ 3,018 | $ (1,215) |
Accumulated foreign currency translation adjustments | (56,658) | (67,338) |
Total accumulated other comprehensive loss | $ (53,640) | $ (68,553) |
Note 7 - Segment Information (D
Note 7 - Segment Information (Details Textual) $ in Thousands | 9 Months Ended | |
May 31, 2017USD ($) | Aug. 31, 2016USD ($) | |
Number of Operating Segments | 3 | |
Goodwill | $ 695,667 | $ 452,915 |
UNITED STATES | ||
Goodwill | $ 385,713 | 367,480 |
Goodwill Percentage Per Segment | 55.00% | |
Europe [Member] | ||
Goodwill | $ 307,003 | 82,280 |
Goodwill Percentage Per Segment | 44.00% | |
Asia Pacific [Member] | ||
Goodwill | $ 2,951 | $ 3,155 |
Goodwill Percentage Per Segment | 1.00% |
Note 7 - Segment Information -
Note 7 - Segment Information - Results of Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
May 31, 2017 | May 31, 2016 | May 31, 2017 | May 31, 2016 | Aug. 31, 2016 | |
Total assets | $ 1,358,014 | $ 1,038,975 | $ 1,358,014 | $ 1,038,975 | $ 1,019,161 |
Capital expenditures | 7,936 | 8,233 | 25,981 | 34,671 | |
Revenues from clients | 312,120 | 287,501 | 894,537 | 839,801 | |
Segment operating profit | 87,642 | 89,290 | 269,707 | 261,942 | |
UNITED STATES | |||||
Total assets | 708,440 | 696,832 | 708,440 | 696,832 | |
Capital expenditures | 6,211 | 6,060 | 21,311 | 29,133 | |
Revenues from clients | 197,834 | 193,166 | 580,090 | 565,063 | |
Segment operating profit | 34,382 | 42,020 | 110,574 | 127,479 | |
Europe [Member] | |||||
Total assets | 555,366 | 264,910 | 555,366 | 264,910 | |
Capital expenditures | 515 | 913 | 1,176 | 2,181 | |
Revenues from clients | 87,327 | 70,243 | 235,464 | 206,198 | |
Segment operating profit | 37,766 | 33,304 | 114,282 | 95,536 | |
Asia Pacific [Member] | |||||
Total assets | 94,208 | 77,233 | 94,208 | 77,233 | |
Capital expenditures | 1,210 | 1,260 | 3,494 | 3,357 | |
Revenues from clients | 26,959 | 24,092 | 78,983 | 68,540 | |
Segment operating profit | $ 15,494 | $ 13,966 | $ 44,851 | $ 38,927 |
Note 8 - Business Combination50
Note 8 - Business Combinations (Details Textual) $ in Thousands | Mar. 17, 2017USD ($) | Nov. 08, 2016USD ($) | Oct. 16, 2015USD ($) | Nov. 30, 2016USD ($) | May 31, 2017USD ($) | Aug. 31, 2016USD ($) |
Finite-lived Intangible Assets Acquired | $ 92,800 | |||||
Goodwill, Acquired During Period | 234,055 | |||||
BI-SAM Technologies [Member] | Minimum [Member] | ||||||
Entity Number of Employees | 160 | |||||
Vermilion Holdings Limited [Member] | ||||||
Entity Number of Employees | 59 | |||||
Portware LLC [Member] | ||||||
Entity Number of Employees | 166 | |||||
BI-SAM Technologies [Member] | ||||||
Business Combination, Consideration Transferred | $ 216,900 | |||||
Finite-lived Intangible Assets Acquired | 56,600 | |||||
Goodwill, Acquired During Period | $ 174,000 | |||||
BI-SAM Technologies [Member] | Customer Relationships [Member] | ||||||
Finite-Lived Intangible Asset, Useful Life | 16 years | |||||
BI-SAM Technologies [Member] | Computer Software, Intangible Asset [Member] | ||||||
Finite-Lived Intangible Asset, Useful Life | 5 years | |||||
BI-SAM Technologies [Member] | Trade Names [Member] | ||||||
Finite-Lived Intangible Asset, Useful Life | 4 years | |||||
BI-SAM Technologies [Member] | Selling, General and Administrative Expenses [Member] | ||||||
Business Combination, Acquisition Related Costs | $ 3,200 | |||||
Vermilion Holdings Limited [Member] | ||||||
Business Combination, Consideration Transferred | $ 67,900 | |||||
Finite-lived Intangible Assets Acquired | 18,200 | |||||
Goodwill, Acquired During Period | $ 50,800 | |||||
Vermilion Holdings Limited [Member] | Customer Relationships [Member] | ||||||
Finite-Lived Intangible Asset, Useful Life | 15 years | |||||
Vermilion Holdings Limited [Member] | Computer Software, Intangible Asset [Member] | ||||||
Finite-Lived Intangible Asset, Useful Life | 6 years | |||||
Vermilion Holdings Limited [Member] | Trade Names [Member] | ||||||
Finite-Lived Intangible Asset, Useful Life | 4 years | |||||
Vermilion Holdings Limited [Member] | Noncompete Agreements [Member] | ||||||
Finite-Lived Intangible Asset, Useful Life | 3 years | |||||
Vermilion Holdings Limited [Member] | Selling, General and Administrative Expenses [Member] | ||||||
Business Combination, Acquisition Related Costs | $ 700 | |||||
Portware LLC [Member] | ||||||
Business Combination, Consideration Transferred | $ 263,600 | |||||
Business Combination, Acquisition Related Costs | $ 700 | |||||
Finite-lived Intangible Assets Acquired | 75,500 | |||||
Goodwill, Acquired During Period | $ 187,400 | |||||
Goodwill Percentage Per Segment | 77.00% | |||||
Portware LLC [Member] | Customer Relationships [Member] | ||||||
Finite-Lived Intangible Asset, Useful Life | 16 years | |||||
Portware LLC [Member] | Computer Software, Intangible Asset [Member] | ||||||
Finite-Lived Intangible Asset, Useful Life | 8 years | |||||
Portware LLC [Member] | Trade Names [Member] | ||||||
Finite-Lived Intangible Asset, Useful Life | 5 years | |||||
Portware LLC [Member] | Noncompete Agreements [Member] | ||||||
Finite-Lived Intangible Asset, Useful Life | 7 years |
Note 8 - Business Combination51
Note 8 - Business Combinations - Business Acquired (Details) - USD ($) $ in Thousands | May 31, 2017 | Mar. 17, 2017 | Nov. 08, 2016 | Sep. 23, 2016 | Aug. 31, 2016 |
Goodwill | $ 695,667 | $ 452,915 | |||
BI-SAM Technologies [Member] | |||||
Net assets acquired | $ 216,893 | ||||
Tangible assets acquired | 27,642 | ||||
Goodwill | 174,024 | ||||
Total assets acquired | 258,265 | ||||
Liabilities assumed | (41,372) | ||||
BI-SAM Technologies [Member] | Computer Software, Intangible Asset [Member] | |||||
Amortizable intangible assets | 18,261 | ||||
BI-SAM Technologies [Member] | Customer Relationships [Member] | |||||
Amortizable intangible assets | 37,597 | ||||
BI-SAM Technologies [Member] | Trade Names [Member] | |||||
Amortizable intangible assets | $ 741 | ||||
Vermilion Holdings Limited [Member] | |||||
Net assets acquired | $ 67,887 | ||||
Tangible assets acquired | 8,242 | ||||
Goodwill | 50,832 | ||||
Total assets acquired | 77,321 | ||||
Liabilities assumed | (9,434) | ||||
Vermilion Holdings Limited [Member] | Computer Software, Intangible Asset [Member] | |||||
Amortizable intangible assets | 10,916 | ||||
Vermilion Holdings Limited [Member] | Customer Relationships [Member] | |||||
Amortizable intangible assets | 5,954 | ||||
Vermilion Holdings Limited [Member] | Trade Names [Member] | |||||
Amortizable intangible assets | 571 | ||||
Vermilion Holdings Limited [Member] | Noncompete Agreements [Member] | |||||
Amortizable intangible assets | $ 806 | ||||
Portware LLC [Member] | |||||
Net assets acquired | $ 263,583 | ||||
Tangible assets acquired | 9,656 | ||||
Goodwill | 187,378 | ||||
Total assets acquired | 272,534 | ||||
Liabilities assumed | (8,951) | ||||
Portware LLC [Member] | Computer Software, Intangible Asset [Member] | |||||
Amortizable intangible assets | 43,000 | ||||
Portware LLC [Member] | Customer Relationships [Member] | |||||
Amortizable intangible assets | 27,000 | ||||
Portware LLC [Member] | Trade Names [Member] | |||||
Amortizable intangible assets | 2,000 | ||||
Portware LLC [Member] | Noncompete Agreements [Member] | |||||
Amortizable intangible assets | $ 3,500 |
Note 9 - Dispositions (Details
Note 9 - Dispositions (Details Textual) - Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] - Market Research Business [Member] - USD ($) $ in Millions | Jul. 01, 2016 | Feb. 28, 2017 | Aug. 31, 2016 |
Proceeds from Divestiture of Businesses | $ 165 | ||
Proceeds from Divestiture of Businesses, Bonus Adjustment | $ 9.7 | ||
Gain (Loss) on Disposition of Business, Net of Tax | $ 112.5 | ||
Other Expense [Member] | |||
Gain (Loss) on Disposition of Business, Net of Tax | $ (1.2) |
Note 10 - Goodwill (Details Tex
Note 10 - Goodwill (Details Textual) $ in Thousands | 9 Months Ended |
May 31, 2017USD ($) | |
Number of Reporting Units | 3 |
Goodwill, Impairment Loss | $ 0 |
Goodwill, Acquired During Period | $ 234,055 |
Note 10 - Goodwill - Changes in
Note 10 - Goodwill - Changes in the Carrying Amount of Goodwill by Segment (Details) $ in Thousands | 9 Months Ended |
May 31, 2017USD ($) | |
Begining Balance | $ 452,915 |
Goodwill acquired during the period | 234,055 |
Foreign currency translations | 8,697 |
Ending Balance | 695,667 |
UNITED STATES | |
Begining Balance | 367,480 |
Goodwill acquired during the period | 18,233 |
Foreign currency translations | |
Ending Balance | 385,713 |
Europe [Member] | |
Begining Balance | 82,280 |
Goodwill acquired during the period | 215,822 |
Foreign currency translations | 8,901 |
Ending Balance | 307,003 |
Asia Pacific [Member] | |
Begining Balance | 3,155 |
Goodwill acquired during the period | |
Foreign currency translations | (204) |
Ending Balance | $ 2,951 |
Note 11 - Intangible Assets (De
Note 11 - Intangible Assets (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
May 31, 2017 | May 31, 2016 | May 31, 2017 | May 31, 2016 | |
Finite-lived Intangible Assets Acquired | $ 92.8 | |||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 11 years 182 days | |||
Amortization of Intangible Assets | $ 5.8 | $ 4.1 | $ 13.8 | $ 11.1 |
Note 11 - Intangible Assets - I
Note 11 - Intangible Assets - Identifiable Intangible Assets (Details) - USD ($) $ in Thousands | May 31, 2017 | Aug. 31, 2016 |
Gross Carrying Amount | $ 243,850 | $ 148,984 |
Accumulated Amortization | 68,316 | 55,823 |
Net Carrying Amount | 175,534 | 93,161 |
Data Content [Member] | ||
Gross Carrying Amount | 33,393 | 34,167 |
Accumulated Amortization | 17,917 | 16,758 |
Net Carrying Amount | 15,476 | 17,409 |
Customer Relationships [Member] | ||
Gross Carrying Amount | 97,322 | 45,185 |
Accumulated Amortization | 20,291 | 16,480 |
Net Carrying Amount | 77,031 | 28,705 |
Computer Software, Intangible Asset [Member] | ||
Gross Carrying Amount | 104,315 | 62,560 |
Accumulated Amortization | 27,445 | 20,545 |
Net Carrying Amount | 76,870 | 42,015 |
Noncompete Agreements [Member] | ||
Gross Carrying Amount | 4,779 | 4,344 |
Accumulated Amortization | 1,303 | 1,118 |
Net Carrying Amount | 3,476 | 3,226 |
Trade Names [Member] | ||
Gross Carrying Amount | 4,041 | 2,728 |
Accumulated Amortization | 1,360 | 922 |
Net Carrying Amount | $ 2,681 | $ 1,806 |
Note 11 - Intangible Assets - E
Note 11 - Intangible Assets - Estimated Amortization Expense (Details) $ in Thousands | May 31, 2017USD ($) |
2017 (remaining three months) | $ 6,108 |
2,018 | 23,989 |
2,019 | 23,148 |
2,020 | 22,489 |
2,021 | 20,927 |
Thereafter | 78,873 |
Total | $ 175,534 |
Note 12 - Common Stock and Ea58
Note 12 - Common Stock and Earnings Per Share (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Jun. 19, 2017 | May 05, 2017 | Feb. 06, 2017 | Nov. 10, 2016 | Aug. 05, 2016 | May 06, 2016 | Feb. 05, 2016 | Nov. 06, 2015 | Aug. 10, 2015 | May 31, 2017 | May 31, 2016 | May 31, 2017 | May 31, 2016 |
Common Stock, Dividends, Per Share, Cash Paid | $ 0.56 | ||||||||||||
Dividends, Cash | $ 22,000 | $ 21,951 | $ 19,709 | $ 19,852 | $ 20,019 | $ 20,171 | $ 18,044 | $ 18,208 | $ 18,179 | ||||
Shares Paid for Tax Withholding for Share Based Compensation | 37,042 | 19,892 | |||||||||||
Payments Related to Tax Withholding for Share-based Compensation | $ 5,700 | $ 3,300 | |||||||||||
Employee Stock Option [Member] | |||||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 492,649 | 688,538 | 492,649 | 688,538 | |||||||||
Performance Shares [Member] | |||||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 754,561 | 937,089 | 754,561 | 937,089 | |||||||||
Per Annum [Member] | |||||||||||||
Common Stock, Dividends, Per Share, Cash Paid | $ 2.24 |
Note 12 - Common Stock and Ea59
Note 12 - Common Stock and Earnings Per Share - Shares of Common Stock Outstanding (Details) - shares | Jul. 05, 2016 | Nov. 30, 2016 | May 31, 2017 | May 31, 2016 | |
Balance (in shares) | 40,038,225 | 40,038,225 | 41,317,000 | ||
Common stock issued for employee stock plans (in shares) | 585,000 | 579,000 | |||
Repurchase of common stock (in shares) | (1,284,822) | (1,220,000) | |||
Balance (in shares) | 39,198,325 | 40,656,000 | |||
Repurchase of Common Stock from Employees [Member] | |||||
Repurchase of common stock (in shares) | [1] | (37,000) | (20,000) | ||
Share Repurchase Program [Member] | |||||
Repurchase of common stock (in shares) | (1,285,000) | (1,220,000) | |||
ASR Agreement [Member] | |||||
Repurchase of common stock (in shares) | (595,607) | (102,916) | (103,000) | ||
[1] | For the nine months ended May 31, 2017 and May 31, 2016, the Company repurchased 37,042 and 19,892 shares, or $5.7 million and $3.3million, of common stock, respectively, in settlement of employee tax withholding obligations due upon the vesting of restricted stock. |
Note 12 - Common Stock and Ea60
Note 12 - Common Stock and Earnings Per Share - Weighted Average Shares Outstanding (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
May 31, 2017 | May 31, 2016 | May 31, 2017 | May 31, 2016 | |
Income available to common stockholders plus assumed conversions, net income (numerator) | $ 65,414 | $ 66,781 | $ 198,707 | $ 194,508 |
Diluted weighted average common shares (in shares) | 39,457 | 41,189 | 39,736 | 41,596 |
Diluted earnings per common share (in dollars per share) | $ 1.66 | $ 1.62 | $ 5 | $ 4.68 |
Income available to common stockholders, net income (numerator) | $ 65,414 | $ 66,781 | $ 198,707 | $ 194,508 |
Basic weighted average common shares (in shares) | 39,317 | 40,779 | 39,528 | 41,094 |
Basic earnings per common share (in dollars per share) | $ 1.66 | $ 1.64 | $ 5.03 | $ 4.73 |
Dilutive effect of stock options and restricted stock, weighted average common share (denominator) (in shares) | 140 | 410 | 208 | 502 |
Note 13 - Stockholders' Equit61
Note 13 - Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Millions | Mar. 27, 2017 | Jul. 05, 2016 | Jul. 01, 2016 | Feb. 28, 2017 | [1] | Nov. 30, 2016 | May 31, 2017 | May 31, 2016 | Aug. 31, 2016 | Aug. 31, 2015 | |
Treasury Stock, Shares | 12,539,371 | 11,112,753 | |||||||||
Common Stock, Shares, Outstanding | 39,198,325 | 40,656,000 | 40,038,225 | 41,317,000 | |||||||
Stock Repurchase Program, Increase in Authorized Amount | $ 300 | ||||||||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 288.2 | ||||||||||
Treasury Stock, Value, Acquired, Cost Method | $ 208.8 | $ 189.5 | |||||||||
Treasury Stock, Shares, Acquired | 1,284,822 | 1,220,000 | |||||||||
Shares Paid for Tax Withholding for Share Based Compensation | 37,042 | 19,892 | |||||||||
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 | |||||||||
Preferred Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 | |||||||||
Preferred Stock, Shares Outstanding | 0 | 0 | |||||||||
Preferred Stock, Shares Issued | 0 | 0 | |||||||||
Common Stock, Shares Authorized | 150,000,000 | 150,000,000 | |||||||||
Common Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 | |||||||||
Common Stock, Shares, Issued | 51,737,696 | 51,150,978 | |||||||||
Restricted Stock [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 6,000 | 95,000 | [2] | 101,234 | 51,762 | ||||||
ASR Agreement [Member] | |||||||||||
Treasury Stock, Value, Acquired, Cost Method | $ 120 | ||||||||||
Percent of Common Stock to Be Repurchased at Closing Price | 80.00% | ||||||||||
Treasury Stock, Shares, Acquired | 595,607 | 102,916 | 103,000 | ||||||||
[1] | Of the 6,357 restricted stock awards that vested during the second quarter of fiscal 2017, 5,150 related to awards granted on February 3, 2014. The remaining 40% of these restricted stock awards cliff vest after five years on February 3, 2019 and are amortized to expense over the vesting period using the straight-line attribution method. The other restricted stock awards that vested related to awards granted in February 2015 in connection with the Code Red acquisition, which vested 100% on February 9, 2017. | ||||||||||
[2] | Of the 94,877 restricted stock awards that vested during the first quarter of fiscal 2017, 73,522 related to awards granted on November 1, 2013. The remaining 40% of these restricted stock awards cliff vest after five years on November 1, 2018 and are amortized to expense over the vesting period using the straight-line attribution method. The other restricted stock awards that vested related primarily to awards granted in November 2015, which vest 20% per year on the anniversary date of the award. |
Note 13 - Stockholders' Equit62
Note 13 - Stockholders' Equity - Dividends Declared (Details) - USD ($) $ / shares in Units, $ in Thousands | Jun. 19, 2017 | May 05, 2017 | Feb. 06, 2017 | Nov. 10, 2016 | Aug. 05, 2016 | May 06, 2016 | Feb. 05, 2016 | Nov. 06, 2015 | Aug. 10, 2015 |
Dividends Per Share of Common Stock (in dollars per share) | $ 0.56 | $ 0.50 | $ 0.50 | $ 0.50 | $ 0.50 | $ 0.44 | $ 0.44 | $ 0.44 | |
Record Date | May 31, 2017 | Feb. 28, 2017 | Nov. 30, 2016 | Aug. 31, 2016 | May 31, 2016 | May 31, 2016 | Nov. 30, 2015 | Aug. 31, 2015 | |
Total $ Amount | $ 22,000 | $ 21,951 | $ 19,709 | $ 19,852 | $ 20,019 | $ 20,171 | $ 18,044 | $ 18,208 | $ 18,179 |
Payment Date | Jun. 20, 2017 | Mar. 21, 2017 | Dec. 20, 2016 | Sep. 20, 2016 | Jun. 21, 2016 | Mar. 15, 2016 | Dec. 15, 2015 | Sep. 15, 2015 |
Note 14 - Employee Stock Opti63
Note 14 - Employee Stock Option and Retirement Plans (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Feb. 03, 2014 | Nov. 01, 2013 | Jan. 31, 2017 | Nov. 30, 2015 | Feb. 28, 2015 | Jul. 31, 2012 | May 31, 2017 | Feb. 28, 2017 | Nov. 30, 2016 | Sep. 30, 2016 | Aug. 31, 2016 | May 31, 2016 | Feb. 29, 2016 | Nov. 30, 2015 | Feb. 28, 2015 | May 31, 2017 | May 31, 2016 | May 31, 2017 | ||
Share Price | $ 165.69 | $ 178.03 | $ 165.69 | $ 165.69 | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | 85.00% | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | 10.00% | 10.00% | 10.00% | |||||||||||||||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 17,314 | 17,538 | 54,554 | 53,711 | ||||||||||||||||
Treasury Stock Acquired, Average Cost Per Share | $ 140.84 | $ 131.57 | $ 137.38 | $ 129.83 | ||||||||||||||||
Common Stock, Capital Shares Reserved for Future Issuance | 353,990 | 353,990 | 353,990 | |||||||||||||||||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 60.00% | |||||||||||||||||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 4.00% | |||||||||||||||||||
Defined Contribution Plan, Employer Matching Contribution, Vesting Period | 5 years | |||||||||||||||||||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 7,300 | $ 7,100 | ||||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 163.05 | 152.10 | $ 154.01 | $ 168.51 | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 3,597,000 | 3,699,000 | 3,833,000 | 3,364,000 | 3,597,000 | 3,597,000 | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $ 139.97 | $ 139.27 | $ 136.43 | $ 129.54 | $ 139.97 | $ 139.97 | ||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 76,100 | $ 76,100 | $ 76,100 | |||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 3 years 109 days | |||||||||||||||||||
The 2004 Stock Option and Award Plan [Member] | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 34,800 | $ 43,000 | ||||||||||||||||||
Employee Stock Option [Member] | ||||||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 163.05 | $ 169.16 | $ 152.51 | $ 152.10 | $ 150.81 | |||||||||||||||
Employee Stock Option [Member] | The 2004 Stock Option and Award Plan [Member] | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $ 97.20 | $ 89.42 | $ 97.20 | $ 97.20 | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ 57,100 | $ 86,000 | $ 57,100 | $ 57,100 | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 767,071 | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | |||||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 154.01 | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 3,597,101 | 3,597,101 | 3,597,101 | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $ 139.97 | $ 139.97 | $ 139.97 | |||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 58,600 | $ 58,600 | $ 58,600 | |||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 3 years 146 days | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 800,000 | 1,000,000 | 800,000 | 800,000 | ||||||||||||||||
Employee Stock Option [Member] | The 2004 Stock Option and Award Plan [Member] | Minimum [Member] | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 7 years | |||||||||||||||||||
Employee Stock Option [Member] | The 2004 Stock Option and Award Plan [Member] | Maximum [Member] | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||||||||||||||||||
Performance Shares [Member] | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 241,546 | 61,744 | 22,460 | 530,418 | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | 80.00% | ||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | 193,256 | |||||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 169.16 | $ 159.45 | ||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 100 | $ 100 | $ 100 | |||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 73 days | |||||||||||||||||||
Performance Shares [Member] | Code Red, Inc. [Member] | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 137,522 | |||||||||||||||||||
Performance Shares [Member] | Code Red, Inc. [Member] | Share-based Compensation Award, Tranche One [Member] | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 68,761 | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 70.00% | |||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | 900 | $ 900 | 900 | |||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 255 days | |||||||||||||||||||
Performance Shares [Member] | Code Red, Inc. [Member] | Share-based Compensation Award, Tranche Two [Member] | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 68,761 | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | |||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 500 | $ 500 | $ 500 | |||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 255 days | |||||||||||||||||||
Performance Shares [Member] | Portware LLC [Member] | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 20,911 | 530,418 | ||||||||||||||||||
Performance Shares [Member] | Portware LLC [Member] | Share-based Compensation Award, Tranche One [Member] | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 40.00% | 40.00% | 0.00% | |||||||||||||||||
Performance Shares [Member] | Portware LLC [Member] | Share-based Compensation Award, Tranche Two [Member] | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | 20.00% | 50.00% | |||||||||||||||||
Performance Shares [Member] | Portware LLC [Member] | Share-based Compensation Award, Tranche Four [Member] | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 100.00% | |||||||||||||||||||
Performance Shares [Member] | Portware LLC [Member] | Share-based Compensation Award, Tranche Three [Member] | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 70.00% | |||||||||||||||||||
Performance Shares [Member] | Vermilion Holdings Limited [Member] | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 61,744 | |||||||||||||||||||
Performance Shares [Member] | Vermilion Holdings Limited [Member] | Share-based Compensation Award, Tranche One [Member] | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 40.00% | |||||||||||||||||||
Performance Shares [Member] | Vermilion Holdings Limited [Member] | Share-based Compensation Award, Tranche Two [Member] | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | |||||||||||||||||||
Performance Shares [Member] | Vermilion Holdings Limited [Member] | Share-based Compensation Award, Tranche Four [Member] | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | |||||||||||||||||||
Performance Shares [Member] | Vermilion Holdings Limited [Member] | Share-based Compensation Award, Tranche Three [Member] | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | |||||||||||||||||||
Restricted Stock [Member] | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 6,000 | [1] | 95,000 | [2] | 101,234 | 51,762 | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 8,000 | 5,000 | 12,927 | 93,375 | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 161.31 | $ 151.63 | $ 157.50 | $ 159.42 | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Share Equivalent | 2.5 | 2.5 | 2.5 | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 168,000 | 171,000 | 172,000 | 262,000 | 168,000 | 168,000 | ||||||||||||||
Restricted Stock [Member] | The 2004 Stock Option and Award Plan [Member] | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 6,357 | 94,877 | ||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 5,150 | 73,522 | 12,927 | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 157.50 | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | 5 years | ||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 40.00% | 100.00% | ||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 168,096 | 168,096 | 168,096 | |||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 17,500 | $ 17,500 | $ 17,500 | |||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 328 days | |||||||||||||||||||
Restricted Stock [Member] | The 2004 Stock Option and Award Plan [Member] | Share-based Compensation Award, Tranche One [Member] | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 40.00% | |||||||||||||||||||
Restricted Stock [Member] | The 2004 Stock Option and Award Plan [Member] | Share-based Compensation Award, Tranche Two [Member] | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | |||||||||||||||||||
[1] | Of the 6,357 restricted stock awards that vested during the second quarter of fiscal 2017, 5,150 related to awards granted on February 3, 2014. The remaining 40% of these restricted stock awards cliff vest after five years on February 3, 2019 and are amortized to expense over the vesting period using the straight-line attribution method. The other restricted stock awards that vested related to awards granted in February 2015 in connection with the Code Red acquisition, which vested 100% on February 9, 2017. | |||||||||||||||||||
[2] | Of the 94,877 restricted stock awards that vested during the first quarter of fiscal 2017, 73,522 related to awards granted on November 1, 2013. The remaining 40% of these restricted stock awards cliff vest after five years on November 1, 2018 and are amortized to expense over the vesting period using the straight-line attribution method. The other restricted stock awards that vested related primarily to awards granted in November 2015, which vest 20% per year on the anniversary date of the award. |
Note 14 - Employee Stock Opti64
Note 14 - Employee Stock Option and Retirement Plans - Summary of Stock Option Activity (Details) - $ / shares | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||||||
Jul. 31, 2012 | May 31, 2017 | Feb. 28, 2017 | Nov. 30, 2016 | May 31, 2016 | Feb. 29, 2016 | Nov. 30, 2015 | May 31, 2017 | May 31, 2016 | |
Balance (in shares) | 3,699,000 | 3,833,000 | 3,364,000 | 3,364,000 | |||||
Balance (in dollars per share) | $ 139.27 | $ 136.43 | $ 129.54 | $ 129.54 | |||||
Granted (in dollars per share) | $ 163.05 | $ 152.10 | $ 154.01 | $ 168.51 | |||||
Exercised (in shares) | (62,000) | (170,000) | (199,000) | ||||||
Exercised (in dollars per share) | $ 93.25 | $ 89.62 | $ 74.56 | ||||||
Forfeited (in shares) | (52,000) | (50,000) | (26,000) | ||||||
Forfeited (in dollars per share) | $ 151.65 | $ 141.50 | $ 147.22 | ||||||
Balance (in shares) | 3,597,000 | 3,699,000 | 3,833,000 | 3,597,000 | |||||
Balance (in dollars per share) | $ 139.97 | $ 139.27 | $ 136.43 | $ 139.97 | |||||
Non Performance Based [Member] | |||||||||
Granted (in shares) | 11,604 | 671,263 | 103,903 | 4,073 | 513,785 | ||||
Granted (in dollars per share) | $ 163.05 | $ 152.28 | |||||||
Performance Shares [Member] | |||||||||
Granted (in shares) | 241,546 | 61,744 | 22,460 | 530,418 | |||||
Granted (in dollars per share) | $ 169.16 | $ 159.45 | |||||||
Non-Employee Director Grant [Member] | |||||||||
Granted (in shares) | 24,000 | ||||||||
Granted (in dollars per share) | $ 170.24 |
Note 14 - Employee Stock Opti65
Note 14 - Employee Stock Option and Retirement Plans - Changes to the Current Estimate of the Vesting Percentage and Related Expense (Details) $ in Thousands | 9 Months Ended | |
May 31, 2017USD ($) | ||
Performance-based Options, Two Year Measurement Period [Member] | Code Red, Inc. [Member] | Share-based Compensation Award, Tranche One [Member] | ||
Remaining Expense to be Recognized | ||
Cumulative Catch-up Adjustment | (694) | [1] |
Performance-based Options, Two Year Measurement Period [Member] | Code Red, Inc. [Member] | Share-based Compensation Award, Tranche Two [Member] | ||
Remaining Expense to be Recognized | 127 | |
Cumulative Catch-up Adjustment | (520) | [1] |
Performance-based Options, Two Year Measurement Period [Member] | Code Red, Inc. [Member] | Share-based Compensation Award, Tranche Three [Member] | ||
Remaining Expense to be Recognized | 506 | |
Cumulative Catch-up Adjustment | [1] | |
Performance-based Options, Two Year Measurement Period [Member] | Code Red, Inc. [Member] | Share-based Compensation Award, Tranche Four [Member] | ||
Remaining Expense to be Recognized | 886 | |
Cumulative Catch-up Adjustment | 520 | [1] |
Performance-based Options, Two Year Measurement Period [Member] | Code Red, Inc. [Member] | Share-based Compensation Award, Tranche Five [Member] | ||
Remaining Expense to be Recognized | 1,265 | |
Cumulative Catch-up Adjustment | 1,041 | [1] |
Performance-based Options, Four Year Measurement Period [Member] | Code Red, Inc. [Member] | Share-based Compensation Award, Tranche One [Member] | ||
Remaining Expense to be Recognized | ||
Cumulative Catch-up Adjustment | [1] | |
Performance-based Options, Four Year Measurement Period [Member] | Code Red, Inc. [Member] | Share-based Compensation Award, Tranche Two [Member] | ||
Remaining Expense to be Recognized | 8,269 | |
Cumulative Catch-up Adjustment | 3,981 | [1] |
Performance-based Options, Four Year Measurement Period [Member] | Code Red, Inc. [Member] | Share-based Compensation Award, Tranche Three [Member] | ||
Remaining Expense to be Recognized | 11,577 | |
Cumulative Catch-up Adjustment | 5,574 | [1] |
Performance-based Options, Four Year Measurement Period [Member] | Code Red, Inc. [Member] | Share-based Compensation Award, Tranche Four [Member] | ||
Remaining Expense to be Recognized | 16,538 | |
Cumulative Catch-up Adjustment | 7,963 | [1] |
Performance Shares [Member] | Portware LLC [Member] | Share-based Compensation Award, Tranche One [Member] | ||
Remaining Expense to be Recognized | ||
Cumulative Catch-up Adjustment | [1] | |
Performance Shares [Member] | Portware LLC [Member] | Share-based Compensation Award, Tranche Two [Member] | ||
Remaining Expense to be Recognized | 417 | |
Cumulative Catch-up Adjustment | 83 | [1] |
Performance Shares [Member] | Portware LLC [Member] | Share-based Compensation Award, Tranche Three [Member] | ||
Remaining Expense to be Recognized | 583 | |
Cumulative Catch-up Adjustment | 116 | [1] |
Performance Shares [Member] | Portware LLC [Member] | Share-based Compensation Award, Tranche Four [Member] | ||
Remaining Expense to be Recognized | 833 | |
Cumulative Catch-up Adjustment | 166 | [1] |
Performance Shares, Additional Granted [Member] | Portware LLC [Member] | Share-based Compensation Award, Tranche One [Member] | ||
Remaining Expense to be Recognized | ||
Cumulative Catch-up Adjustment | [1] | |
Performance Shares, Additional Granted [Member] | Portware LLC [Member] | Share-based Compensation Award, Tranche Two [Member] | ||
Remaining Expense to be Recognized | 2,502 | |
Cumulative Catch-up Adjustment | $ 202 | [1] |
[1] | Amounts represent the cumulative catch-up adjustment to be recorded if there was a change in the vesting percentage as of May 31, 2017. |
Note 14 - Employee Stock Opti66
Note 14 - Employee Stock Option and Retirement Plans - Changes to the Current Estimate of the Vesting Percentage and Related Expense (Details) (Parentheticals) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 59 Months Ended | ||
Jul. 31, 2012 | Sep. 30, 2016 | Nov. 30, 2015 | Feb. 28, 2015 | May 31, 2017 | May 31, 2017 | |
Performance-based Options, Four Year Measurement Period [Member] | Code Red, Inc. [Member] | Share-based Compensation Award, Tranche One [Member] | ||||||
Vesting percentage | 0.00% | |||||
Performance-based Options, Four Year Measurement Period [Member] | Code Red, Inc. [Member] | Share-based Compensation Award, Tranche Two [Member] | ||||||
Vesting percentage | 50.00% | |||||
Performance-based Options, Four Year Measurement Period [Member] | Code Red, Inc. [Member] | Share-based Compensation Award, Tranche Three [Member] | ||||||
Vesting percentage | 70.00% | |||||
Performance-based Options, Four Year Measurement Period [Member] | Code Red, Inc. [Member] | Share-based Compensation Award, Tranche Four [Member] | ||||||
Vesting percentage | 100.00% | |||||
Performance Shares [Member] | ||||||
Vesting percentage | 20.00% | 80.00% | ||||
Performance Shares [Member] | Code Red, Inc. [Member] | Share-based Compensation Award, Tranche One [Member] | ||||||
Vesting percentage | 70.00% | |||||
Performance Shares [Member] | Portware LLC [Member] | Share-based Compensation Award, Tranche One [Member] | ||||||
Vesting percentage | 40.00% | 40.00% | 0.00% | |||
Performance Shares [Member] | Portware LLC [Member] | Share-based Compensation Award, Tranche Two [Member] | ||||||
Vesting percentage | 20.00% | 20.00% | 50.00% | |||
Performance Shares [Member] | Portware LLC [Member] | Share-based Compensation Award, Tranche Three [Member] | ||||||
Vesting percentage | 70.00% | |||||
Performance Shares [Member] | Portware LLC [Member] | Share-based Compensation Award, Tranche Four [Member] | ||||||
Vesting percentage | 100.00% | |||||
Performance Shares, Additional Granted [Member] | Portware LLC [Member] | Share-based Compensation Award, Tranche One [Member] | ||||||
Vesting percentage | 0.00% | |||||
Performance Shares, Additional Granted [Member] | Portware LLC [Member] | Share-based Compensation Award, Tranche Two [Member] | ||||||
Vesting percentage | 100.00% | |||||
Performance-based Options, Two Year Measurement Period [Member] | Code Red, Inc. [Member] | Share-based Compensation Award, Tranche One [Member] | ||||||
Vesting percentage | 0.00% | |||||
Performance-based Options, Two Year Measurement Period [Member] | Code Red, Inc. [Member] | Share-based Compensation Award, Tranche Two [Member] | ||||||
Vesting percentage | 10.00% | |||||
Performance-based Options, Two Year Measurement Period [Member] | Code Red, Inc. [Member] | Share-based Compensation Award, Tranche Three [Member] | ||||||
Vesting percentage | 40.00% | |||||
Performance-based Options, Two Year Measurement Period [Member] | Code Red, Inc. [Member] | Share-based Compensation Award, Tranche Four [Member] | ||||||
Vesting percentage | 70.00% | |||||
Performance-based Options, Two Year Measurement Period [Member] | Code Red, Inc. [Member] | Share-based Compensation Award, Tranche Five [Member] | ||||||
Vesting percentage | 100.00% |
Note 14 - Employee Stock Opti67
Note 14 - Employee Stock Option and Retirment Plans - Summary of Restricted Stock Award (Details) - Restricted Stock [Member] - $ / shares | 3 Months Ended | 9 Months Ended | |||||
May 31, 2017 | Feb. 28, 2017 | Nov. 30, 2016 | May 31, 2017 | May 31, 2016 | |||
Balance (in shares) | 171,000 | 172,000 | 262,000 | 262,000 | |||
Balance (in dollars per share) | $ 136.65 | $ 134.02 | $ 126.27 | $ 126.27 | |||
Granted (in shares) | 8,000 | 5,000 | 12,927 | 93,375 | |||
Granted (in dollars per share) | $ 161.31 | $ 151.63 | $ 157.50 | $ 159.42 | |||
Forfeited (in shares) | (3,000) | (3,000) | |||||
Forfeited (in dollars per share) | $ 116.38 | $ 114.42 | |||||
Vested (in shares) | (6,000) | [1] | (95,000) | [2] | (101,234) | (51,762) | |
Vested (in dollars per share) | $ 105.91 | [1] | $ 112.70 | [2] | |||
Balance (in shares) | 168,000 | 171,000 | 172,000 | 168,000 | |||
Balance (in dollars per share) | $ 136.95 | $ 136.65 | $ 134.02 | $ 136.95 | |||
[1] | Of the 6,357 restricted stock awards that vested during the second quarter of fiscal 2017, 5,150 related to awards granted on February 3, 2014. The remaining 40% of these restricted stock awards cliff vest after five years on February 3, 2019 and are amortized to expense over the vesting period using the straight-line attribution method. The other restricted stock awards that vested related to awards granted in February 2015 in connection with the Code Red acquisition, which vested 100% on February 9, 2017. | ||||||
[2] | Of the 94,877 restricted stock awards that vested during the first quarter of fiscal 2017, 73,522 related to awards granted on November 1, 2013. The remaining 40% of these restricted stock awards cliff vest after five years on November 1, 2018 and are amortized to expense over the vesting period using the straight-line attribution method. The other restricted stock awards that vested related primarily to awards granted in November 2015, which vest 20% per year on the anniversary date of the award. |
Note 14 - Employee Stock Opti68
Note 14 - Employee Stock Option and Retirement Plans - Summary of Share-based Awards Available for Grant (Details) - shares | 3 Months Ended | |||||
May 31, 2017 | Feb. 28, 2017 | Nov. 30, 2016 | ||||
The 2004 Stock Option and Award Plan [Member] | ||||||
Balance (in shares) | 788,000 | 814,000 | 1,491,000 | |||
Share-based awards canceled/forfeited (in shares) | 58,000 | 56,000 | [1] | 29,000 | [1] | |
Balance (in shares) | 834,000 | 788,000 | 814,000 | |||
The 2004 Stock Option and Award Plan [Member] | Non Performance Based [Member] | ||||||
Granted (in shares) | (12,000) | (671,000) | ||||
The 2004 Stock Option and Award Plan [Member] | Performance Shares [Member] | ||||||
Granted (in shares) | (62,000) | (23,000) | ||||
The 2004 Stock Option and Award Plan [Member] | Restricted Stock [Member] | ||||||
Granted (in shares) | [2] | (20,000) | (12,000) | |||
Non Employee Directors Stock Option Plan [Member] | ||||||
Balance (in shares) | 42,000 | 66,000 | 66,000 | |||
Share-based awards canceled/forfeited (in shares) | [1] | [1] | ||||
Balance (in shares) | 42,185 | 42,000 | 66,000 | |||
Non Employee Directors Stock Option Plan [Member] | Non Performance Based [Member] | ||||||
Granted (in shares) | (24,000) | |||||
Non Employee Directors Stock Option Plan [Member] | Performance Shares [Member] | ||||||
Granted (in shares) | ||||||
Non Employee Directors Stock Option Plan [Member] | Restricted Stock [Member] | ||||||
Granted (in shares) | [2] | |||||
[1] | Under the Company's Option Plan, for each restricted stock award canceled/forfeited, an equivalent of 2.5 shares is added back to the available share-based awards balance. | |||||
[2] | Each restricted stock award granted is equivalent to 2.5 shares granted under the Company's Option Plan. |
Note 15 - Stock-based Compens69
Note 15 - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Jan. 13, 2017 | Jan. 15, 2016 | Jul. 31, 2012 | May 31, 2017 | Feb. 28, 2017 | Nov. 30, 2016 | May 31, 2016 | Feb. 29, 2016 | Nov. 30, 2015 | May 31, 2017 | May 31, 2016 | Aug. 31, 2016 | Aug. 31, 2008 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 3 years 109 days | ||||||||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount | $ 0 | $ 0 | |||||||||||
Common Stock, Capital Shares Reserved for Future Issuance | 353,990 | 353,990 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 42.23 | $ 40.57 | $ 39.98 | $ 46.05 | |||||||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 17,314 | 17,538 | 54,554 | 53,711 | |||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 163.05 | $ 152.10 | $ 154.01 | $ 168.51 | |||||||||
Allocated Share-based Compensation Expense | $ 7,300 | $ 7,400 | $ 20,900 | $ 22,400 | |||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 76,100 | $ 76,100 | |||||||||||
Non Employee Directors Stock Option Plan [Member] | |||||||||||||
Common Stock, Capital Shares Reserved for Future Issuance | 250,000 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 42,185 | 42,000 | 66,000 | 42,185 | 66,000 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 23,846 | 22,559 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 35.65 | $ 31.03 | |||||||||||
Non Employee Directors Stock Option Plan [Member] | Malcolm Frank [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 2,417 | ||||||||||||
Non Employee Directors Stock Option Plan [Member] | Laurie Siegel [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 2,417 | ||||||||||||
Non Employee Directors Stock Option Plan [Member] | Sheila B. Jordan [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 2,417 | ||||||||||||
The 2008 Employee Stock Purchase Plan [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 29.84 | $ 26.07 | $ 28.48 | $ 27.19 | |||||||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 17,314 | 17,538 | 54,554 | 53,711 | |||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 140.84 | $ 131.57 | $ 137.38 | $ 129.83 | |||||||||
Allocated Share-based Compensation Expense | $ 500 | $ 400 | $ 1,500 | $ 1,400 | |||||||||
Non Performance Based [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 11,604 | 671,263 | 103,903 | 4,073 | 513,785 | ||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 163.05 | $ 152.28 | |||||||||||
Performance Shares [Member] | |||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 73 days | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 241,546 | 61,744 | 22,460 | 530,418 | |||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 169.16 | $ 159.45 | |||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 100 | $ 100 | |||||||||||
Employee Stock Option [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 42.23 | 43.81 | 39.60 | $ 40.57 | $ 40.51 | ||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 163.05 | $ 169.16 | $ 152.51 | $ 152.10 | $ 150.81 | ||||||||
Performance and Non Performance [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 46.62 | ||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 170.21 | ||||||||||||
Restricted Stock [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 8,000 | 5,000 | 12,927 | 93,375 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 161.31 | $ 151.63 | $ 157.50 | $ 159.42 |
Note 15 - Stock-based Compens70
Note 15 - Stock-based Compensation - Summary of Stock Option Weighted Average Assumptions of Employee Stock Options (Details) - $ / shares | 3 Months Ended | 9 Months Ended | ||
May 31, 2017 | May 31, 2016 | May 31, 2017 | May 31, 2016 | |
Expected life (years) (Year) | 7 years 146 days | 7 years 182 days | 7 years 146 days | 7 years 255 days |
Term structure of volatility | ||||
Dividend yield | 1.18% | 1.33% | 1.18% | 1.09% |
Weighted average estimated fair value (in dollars per share) | $ 42.23 | $ 40.57 | $ 39.98 | $ 46.05 |
Granted (in dollars per share) | $ 163.05 | $ 152.10 | $ 154.01 | $ 168.51 |
Fair value as a percentage of exercise price | 25.90% | 26.70% | 26.00% | 27.30% |
Minimum [Member] | ||||
Term structure of risk-free interest rate | 0.49% | 0.40% | 0.07% | 0.07% |
Term structure of volatility | 21.00% | 24.00% | 21.00% | 21.00% |
Maximum [Member] | ||||
Term structure of risk-free interest rate | 1.89% | 1.90% | 2.09% | 2.12% |
Term structure of volatility | 29.00% | 30.00% | 30.00% | 30.00% |
Note 15 - Stock-based Compens71
Note 15 - Stock-based Compensation - Summary of Stock Option Weighted Average Assumptions of Non-employee Director Stock Options (Details) | Jan. 13, 2017 | Jan. 15, 2016 | May 31, 2017 | May 31, 2016 | May 31, 2017 | May 31, 2016 |
Term structure of volatility | ||||||
Dividend yield | 1.18% | 1.33% | 1.18% | 1.09% | ||
Expected life (years) (Year) | 7 years 146 days | 7 years 182 days | 7 years 146 days | 7 years 255 days | ||
Non Employee Directors Stock Option Plan [Member] | Employee Stock Option [Member] | ||||||
Term structure of volatility | 22.70% | 23.00% | ||||
Dividend yield | 1.24% | 1.05% | ||||
Term structure of risk-free interest rate | 1.95% | 1.62% | ||||
Expected life (years) (Year) | 5 years 146 days | 5 years 146 days |
Note 15 - Stock-based Compens72
Note 15 - Stock-based Compensation - Summary of Stock Option Weighted Average Assumptions, Employee Stock Purchase Plan (Details) - $ / shares | 3 Months Ended | 9 Months Ended | ||
May 31, 2017 | May 31, 2016 | May 31, 2017 | May 31, 2016 | |
Expected volatility | ||||
Dividend yield | 1.18% | 1.33% | 1.18% | 1.09% |
Weighted average estimated fair value (in dollars per share) | $ 42.23 | $ 40.57 | $ 39.98 | $ 46.05 |
Expected life (Month) | 7 years 146 days | 7 years 182 days | 7 years 146 days | 7 years 255 days |
The 2008 Employee Stock Purchase Plan [Member] | ||||
Expected volatility | 8.30% | 11.53% | 8.70% | 11.42% |
Dividend yield | 1.24% | 1.29% | 1.21% | 1.15% |
Weighted average estimated fair value (in dollars per share) | $ 29.84 | $ 26.07 | $ 28.48 | $ 27.19 |
Risk-free interest rate | 0.81% | 0.27% | 0.56% | 0.20% |
Expected life (Month) | 90 days | 90 days | 90 days | 90 days |
Note 16 - Income Taxes (Details
Note 16 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Feb. 29, 2016 | May 31, 2017 | May 31, 2016 | Aug. 31, 2017 | Aug. 31, 2016 | |
Unrecognized Tax Benefits, Interest on Income Taxes Accrued | $ 1,300 | ||||
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Amount | $ 7,300 | ||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 25.50% | 35.00% | 35.00% | ||
Unrecognized Tax Benefits | $ 10,780 | $ 8,782 | |||
Maximum [Member] | Scenario, Forecast [Member] | |||||
Effective Income Tax Rate Reconciliation, Operational Realignment, Basis Point | 2.50% |
Note 16 - Income Taxes - Provis
Note 16 - Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
May 31, 2017 | May 31, 2016 | May 31, 2017 | May 31, 2016 | |||
Income before income taxes | $ 85,229 | $ 88,857 | $ 264,539 | $ 261,177 | ||
Provision for income taxes | $ 19,815 | $ 22,076 | $ 65,832 | $ 66,669 | ||
Effective tax rate | 23.20% | 24.80% | [1] | 24.90% | 25.50% | [1] |
[1] | In December 2015, the Consolidated Appropriations Act, 2016 (the “2016 ACT”) was signed into law. The ACT reinstated and made permanent the U.S. Federal R&D tax credit (the “R&D tax credit”), which had previously expired on December 31, 2014. The reenactment of the R&D tax credit was retroactive to January 1, 2015 and by providing for a permanent R&D tax credit, the 2016 ACT eliminates the yearly uncertainty surrounding the extension of the credit. Prior to the reenactment of the R&D tax credit, FactSet had not been permitted to factor it into its effective tax rate as it was not currently enacted tax law. The reenactment resulted in a discrete income tax benefit of $7.3 million during the second quarter of fiscal 2016 and reduced the Company’s effective tax rate for the nine months ended May 31, 2016 to 25.5%. |
Note 16 - Income Taxes - Signif
Note 16 - Income Taxes - Significant Components of Deferred Tax Assets (Details) - USD ($) $ in Thousands | May 31, 2017 | Aug. 31, 2016 |
Receivable reserve | $ 619 | $ 531 |
Deferred rent | 1,184 | 1,022 |
Other | 820 | 1,605 |
Net current deferred tax assets | 2,623 | 3,158 |
Depreciation on property, equipment and leasehold improvements | 3,335 | 5,194 |
Deferred rent | 10,539 | 9,626 |
Stock-based compensation | 18,154 | 19,927 |
Purchased intangible assets, including acquired technology | (31,495) | (24,645) |
Other | 4,566 | 3,304 |
Net non-current deferred tax assets | 5,099 | 13,406 |
Total deferred tax assets | 7,722 | 16,564 |
Current | ||
Other | 1,781 | 291 |
Net current deferred tax liabilities | 1,781 | 291 |
Non-current | ||
Stock-based compensation | (944) | |
Depreciation on property, equipment and leasehold improvements | (441) | |
Purchased intangible assets, including acquired technology | 25,928 | 1,666 |
Other | (1,504) | 42 |
Net non-current deferred tax liabilities | 23,039 | 1,708 |
Total deferred tax liabilities | $ 24,820 | $ 1,999 |
Note 16 - Income Taxes - Reconc
Note 16 - Income Taxes - Reconciliation of Unrecognized Tax Benefits (Details) $ in Thousands | 9 Months Ended |
May 31, 2017USD ($) | |
Unrecognized income tax benefits | $ 8,782 |
Additions based on tax positions related to the current year | 1,359 |
Additions for tax positions of prior years | 2,461 |
Statute of limitations lapse | (1,822) |
Unrecognized income tax benefits | $ 10,780 |
Note 16 - Income Taxes - Major
Note 16 - Income Taxes - Major Tax Jurisdictions in Which the Company and Affiliates Operate and the Earliest Tax Year Subject to Examination (Details) | 9 Months Ended |
May 31, 2017 | |
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Earliest Tax Year [Member] | |
Open tax years | 2,014 |
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Latest Tax Year [Member] | |
Open tax years | 2,017 |
State and Local Jurisdiction [Member] | Earliest Tax Year [Member] | |
Open tax years | 2,010 |
State and Local Jurisdiction [Member] | Latest Tax Year [Member] | |
Open tax years | 2,017 |
Foreign Tax Authority [Member] | Ministry of the Economy, Finance and Industry, France [Member] | Earliest Tax Year [Member] | |
Open tax years | 2,013 |
Foreign Tax Authority [Member] | Ministry of the Economy, Finance and Industry, France [Member] | Latest Tax Year [Member] | |
Open tax years | 2,017 |
Foreign Tax Authority [Member] | Her Majesty's Revenue and Customs (HMRC) [Member] | Earliest Tax Year [Member] | |
Open tax years | 2,012 |
Foreign Tax Authority [Member] | Her Majesty's Revenue and Customs (HMRC) [Member] | Latest Tax Year [Member] | |
Open tax years | 2,017 |
Note 17 - Long-term Debt (Detai
Note 17 - Long-term Debt (Details Textual) - USD ($) $ in Thousands | Mar. 17, 2017 | May 31, 2017 | May 31, 2016 | May 31, 2017 | May 31, 2016 |
Interest Paid | $ 2,900 | $ 900 | $ 5,300 | $ 2,200 | |
Payments of Debt Issuance Costs | 437 | $ 12 | |||
The 2017 Revolving Credit Facility [Member] | PNC Bank, National Associations [Member] | |||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 575,000 | ||||
Line of Credit Facility, Maximum Amount Of Additional Borrowings | 225,000 | ||||
Line of Credit Facility, Minimum Borrowing Amount Required for Additional Borrowings | $ 25,000 | ||||
Long-term Line of Credit | $ 575,000 | 575,000 | |||
Payments of Debt Issuance Costs | 400 | ||||
Line of Credit Facility, Commitment Fee Amount | $ 0 | ||||
The 2017 Revolving Credit Facility [Member] | PNC Bank, National Associations [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||
Debt Instrument, Basis Spread on Variable Rate | 1.00% | ||||
The 2015 Revolving Credit Facility [Member] | Bank of America, N.A. [Member] | |||||
Extinguishment of Debt, Amount | $ 365,000 |
Note 17 - Long-term Debt - Debt
Note 17 - Long-term Debt - Debt Obligations (Details) - USD ($) $ in Millions | May 31, 2017 | Aug. 31, 2016 |
2017 Revolving Credit Facility | $ 575 | $ 300 |
The 2017 Revolving Credit Facility [Member] | ||
2017 Revolving Credit Facility | 575 | |
The 2015 Revolving Credit Facility [Member] | ||
2017 Revolving Credit Facility | $ 300 |
Note 18 - Commitments and Con80
Note 18 - Commitments and Contingencies (Details Textual) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
May 31, 2017USD ($)ft²a | May 31, 2016USD ($) | May 31, 2017USD ($)ft²a | May 31, 2016USD ($) | Aug. 31, 2016USD ($) | |
Operating Leases, Rent Expense | $ 12,400 | $ 11,100 | $ 35,300 | $ 32,000 | |
Other Liabilities, Noncurrent | 37,035 | 37,035 | $ 33,080 | ||
Letters of Credit Outstanding, Amount | $ 1,900 | $ 1,900 | |||
Purchase Commitment, Remaining Minimum Amount Committed | 67,500 | ||||
Largest Individual Client Percent Of Total Subscriptions | 2.00% | 2.00% | |||
Percentage of Subscription from Ten Largest Clients | 15.00% | 15.00% | |||
Allowance for Doubtful Accounts Receivable | $ 1,700 | $ 1,700 | 1,500 | ||
Deferred Rent [Member] | |||||
Other Liabilities | 37,200 | 37,200 | 34,400 | ||
Other Liabilities, Noncurrent | $ 33,900 | $ 33,900 | $ 31,200 | ||
Norwalk Connecticut [Member] | |||||
Area of Real Estate Property | ft² | 202,000 | 202,000 | |||
Non-cancelable Operating Lease [Member] | |||||
Area of Real Estate Property | a | 1,226,000 | 1,226,000 | |||
Increase (Decrease) in Area of Real Estate Property | a | 154,000 | 154,000 | |||
Increase (Decrease) in Area of Real Estate Property, Percent | 14.40% |
Note 18 - Commitments and Con81
Note 18 - Commitments and Contingencies - Future Minimum Lease Commitments (Details) $ in Thousands | May 31, 2017USD ($) |
2017 (remaining three months) | $ 8,659 |
2,018 | 36,006 |
2,019 | 33,161 |
2,020 | 26,628 |
2,021 | 20,473 |
Thereafter | 156,742 |
Total | $ 281,669 |