Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Aug. 31, 2017 | Oct. 25, 2017 | Feb. 28, 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) | 39,109,746 | ||
Entity Public Float | $ 6,862,902,916 | ||
Document Type | 10-K | ||
Document Period End Date | Aug. 31, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |||
Aug. 31, 2017 | Aug. 31, 2016 | Aug. 31, 2015 | ||
Revenues | [1] | $ 1,221,179 | $ 1,127,092 | $ 1,006,768 |
Operating expenses | ||||
Cost of services | 566,580 | 487,409 | 405,339 | |
Selling, general and administrative | 302,464 | 290,007 | 269,511 | |
Total operating expenses | 869,044 | 777,416 | 674,850 | |
Operating income | 352,135 | 349,676 | 331,918 | |
Other (expense) income | ||||
(Loss) gain on sale of business | (1,223) | 112,453 | ||
Interest (expense), net of interest income | (6,600) | (1,136) | 1,836 | |
Total other (expense) income | (7,823) | 111,317 | 1,836 | |
Income before income taxes | 344,312 | 460,993 | 333,754 | |
Provision for income taxes | 86,053 | 122,178 | 92,703 | |
Net income | $ 258,259 | $ 338,815 | $ 241,051 | |
Basic earnings per common share (in dollars per share) | $ 6.55 | $ 8.29 | $ 5.80 | |
Diluted earnings per common share (in dollars per share) | $ 6.51 | $ 8.19 | $ 5.71 | |
Basic weighted average common shares (in shares) | 39,444 | 40,880 | 41,572 | |
Diluted weighted average common shares (in shares) | 39,642 | 41,365 | 42,235 | |
[1] | Revenues are attributed to countries based on the location of the client. |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | |||
Aug. 31, 2017 | Aug. 31, 2016 | Aug. 31, 2015 | ||
Net income | $ 258,259 | $ 338,815 | $ 241,051 | |
Other comprehensive income (loss), net of tax | ||||
Net unrealized gain (loss) on cash flow hedges* | [1] | 5,017 | (857) | (868) |
Foreign currency translation adjustments | 28,816 | (23,644) | (25,263) | |
Other comprehensive income (loss) | 33,833 | (24,501) | (26,131) | |
Comprehensive income | $ 292,092 | $ 314,314 | $ 214,920 | |
[1] | The unrealized gain (loss) on cash flow hedges disclosed above was net of tax (expense) benefit of ($3,049), $498 and $512 for the fiscal years ended August 31, 2017, 2016 and 2015, respectively. |
Consolidated Statements of Com4
Consolidated Statements of Comprehensive Income (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | ||
Aug. 31, 2017 | Aug. 31, 2016 | Aug. 31, 2015 | |
Tax expense on the net unrealized gain on cash flow hedges | $ (3,049) | $ 498 | $ 512 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Aug. 31, 2017 | Aug. 31, 2016 |
ASSETS | ||
Cash and cash equivalents | $ 194,731 | $ 228,407 |
Investments | 32,444 | 24,217 |
Accounts receivable, net of reserves of $2,738 and $1,521 at August 31, 2017 and 2016, respectively | 148,331 | 97,797 |
Prepaid taxes | 7,076 | |
Deferred taxes | 2,668 | 3,158 |
Prepaid expenses and other current assets | 24,127 | 15,697 |
Total current assets | 409,376 | 369,276 |
Property, equipment and leasehold improvements, net | 100,454 | 84,622 |
Goodwill | 707,560 | 452,915 |
Intangible assets, net | 173,543 | 93,161 |
Deferred taxes | 7,412 | 13,406 |
Other assets | 14,970 | 5,781 |
TOTAL ASSETS | 1,413,315 | 1,019,161 |
LIABILITIES | ||
Accounts payable and accrued expenses | 59,214 | 45,836 |
Accrued compensation | 61,083 | 51,036 |
Deferred fees | 47,495 | 33,247 |
Deferred taxes | 2,382 | 291 |
Taxes payable | 9,112 | 7,781 |
Dividends payable | 21,853 | 20,019 |
Total current liabilities | 201,139 | 158,210 |
Long-term debt | 575,000 | 300,000 |
Deferred taxes | 24,892 | 1,708 |
Deferred fees | 3,921 | |
Taxes payable | 11,484 | 8,782 |
Deferred rent and other non-current liabilities | 37,188 | 33,080 |
TOTAL LIABILITIES | 853,624 | 501,780 |
Commitments and contingencies (See Note 19) | ||
STOCKHOLDERS’ EQUITY | ||
Preferred stock, $.01 par value, 10,000,000 shares authorized, none issued | ||
Common stock, $.01 par value, 150,000,000 shares authorized, 51,845,132 and 51,150,978 shares issued; 39,023,032 and 40,038,225 shares outstanding at August 31, 2017 and 2016, respectively | 518 | 512 |
Additional paid-in capital | 741,748 | 623,195 |
Treasury stock, at cost: 12,822,100 and 11,112,753 shares at August 31, 2017 and 2016, respectively | (1,606,678) | (1,321,700) |
Retained earnings | 1,458,823 | 1,283,927 |
Accumulated other comprehensive loss | (34,720) | (68,553) |
TOTAL STOCKHOLDERS’ EQUITY | 559,691 | 517,381 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 1,413,315 | $ 1,019,161 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Aug. 31, 2017 | Aug. 31, 2016 |
Accounts receivable, reserves | $ 2,738 | $ 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) | 51,845,132 | 51,150,978 |
Common stock, shares outstanding (in shares) | 39,023,032 | 40,038,225 |
Treasury stock, shares (in shares) | 12,822,100 | 11,112,753 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows $ in Thousands | 12 Months Ended | ||
Aug. 31, 2017USD ($) | Aug. 31, 2016USD ($) | Aug. 31, 2015USD ($) | |
CASH FLOWS FROM OPERATING ACTIVITIES | |||
Net income | $ 258,259 | $ 338,815 | $ 241,051 |
Adjustments to reconcile net income to net cash provided by operating activities | |||
Depreciation and amortization | 48,294 | 38,052 | 31,349 |
Stock-based compensation expense | 34,183 | 29,793 | 26,371 |
Loss (gain) on sale of business | 1,223 | (112,453) | |
Deferred income taxes | 4,879 | 4,528 | (969) |
Loss (gain) on sale of assets | 59 | 8 | (34) |
Tax benefits from share-based payment arrangements | (10,331) | (18,205) | (28,948) |
Changes in assets and liabilities, net of effects of acquisitions | |||
Accounts receivable, net of reserves | (29,503) | (3,541) | (4,300) |
Accounts payable and accrued expenses | (2,226) | 5,525 | 8,123 |
Accrued compensation | 6,427 | 3,961 | 3,516 |
Deferred fees | (229) | 700 | 53 |
Taxes payable, net of prepaid taxes | 7,877 | 30,270 | 30,437 |
Prepaid expenses and other assets | (850) | 7 | (4,523) |
Deferred rent and other non-current liabilities | 2,331 | 13,674 | 4,322 |
Other working capital accounts, net | 132 | 6 | (6) |
Net cash provided by operating activities | 320,527 | 331,140 | 306,442 |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Acquisition of businesses, net of cash acquired | (303,086) | (262,909) | (34,758) |
Proceeds from sale of business, net | 153,137 | ||
Purchases of investments | (30,757) | (18,137) | (24,264) |
Proceeds from sales of investments | 23,399 | 17,241 | 19,827 |
Purchases of property, equipment and leasehold improvements, net of proceeds from dispositions | (36,862) | (47,740) | (25,682) |
Net cash used in investing activities | (347,306) | (158,408) | (64,877) |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Dividend payments | (80,898) | (74,218) | (66,551) |
Repurchase of common stock | (260,978) | (356,828) | (256,217) |
Proceeds from debt | 640,000 | 265,000 | 35,000 |
Repayment of debt | (365,000) | ||
Sale of business | (1,223) | ||
Debt issuance costs | (438) | (12) | (32) |
Proceeds from employee stock plans | 50,045 | 56,851 | 71,526 |
Tax benefits from share-based payment arrangements | 10,331 | 18,205 | 28,948 |
Net cash used in financing activities | (8,161) | (91,002) | (187,326) |
Effect of exchange rate changes on cash and cash equivalents | 1,264 | (12,237) | (11,703) |
Net (decrease) increase in cash and cash equivalents | (33,676) | 69,493 | 42,536 |
Cash and cash equivalents at beginning of period | 228,407 | 158,914 | 116,378 |
Cash and cash equivalents at end of period | 194,731 | 228,407 | 158,914 |
Supplemental Disclosure of Cash Flow Information | |||
Cash paid during the year for income taxes, net of refunds | 74,788 | 87,513 | 64,750 |
Supplemental Disclosure of Non-Cash Transactions | |||
Dividends declared, not paid | 21,853 | 20,019 | 18,179 |
Stock issued for acquisition of business | $ 2,991 |
Consolidated Statements of Chan
Consolidated Statements of Changes In Stockholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total | |
Balance, beginning of year at Aug. 31, 2014 | $ 491 | $ 413,754 | $ (734,746) | $ 849,504 | $ (17,921) | $ 511,082 | |
Common stock issued for employee stock plans | 12 | 72,381 | 72,393 | ||||
Stock-based compensation expense | 26,371 | 26,371 | |||||
Tax benefits from share-based payment arrangements | 28,948 | 28,948 | |||||
Accelerated share repurchase | |||||||
Stock-based compensation adjustment associated with disposition | |||||||
Stock issued for acquisition of business | 901 | 2,090 | 2,991 | ||||
Repurchases of common stock | (253,076) | (253,076) | |||||
Accelerated share repurchase | |||||||
Purchases of common stock upon restricted stock vesting | (3,141) | (3,141) | |||||
Net income | 241,051 | 241,051 | |||||
Dividends | (68,904) | (68,904) | |||||
Foreign currency translation adjustments | (25,263) | (25,263) | |||||
Net unrealized gain (loss) on cash flow hedges, net of tax | (868) | (868) | [1] | ||||
Balance, end of year at Aug. 31, 2015 | 503 | 542,355 | (988,873) | 1,021,651 | (44,052) | 531,584 | |
Common stock issued for employee stock plans | 9 | 57,784 | 57,793 | ||||
Stock-based compensation expense | 29,793 | 29,793 | |||||
Tax benefits from share-based payment arrangements | 18,205 | 18,205 | |||||
Accelerated share repurchase | (24,000) | ||||||
Stock-based compensation adjustment associated with disposition | (942) | (942) | |||||
Stock issued for acquisition of business | |||||||
Repurchases of common stock | (328,283) | (352,283) | |||||
Accelerated share repurchase | |||||||
Purchases of common stock upon restricted stock vesting | (4,544) | (4,544) | |||||
Net income | 338,815 | 338,815 | |||||
Dividends | (76,539) | (76,539) | |||||
Foreign currency translation adjustments | (23,644) | (23,644) | |||||
Net unrealized gain (loss) on cash flow hedges, net of tax | (857) | (857) | [1] | ||||
Balance, end of year at Aug. 31, 2016 | 512 | 623,195 | (1,321,700) | 1,283,927 | (68,553) | 517,381 | |
Common stock issued for employee stock plans | 6 | 50,039 | 50,045 | ||||
Stock-based compensation expense | 34,183 | 34,183 | |||||
Tax benefits from share-based payment arrangements | 10,331 | 10,331 | |||||
Accelerated share repurchase | 24,000 | ||||||
Stock-based compensation adjustment associated with disposition | |||||||
Stock issued for acquisition of business | |||||||
Repurchases of common stock | (253,131) | (253,131) | |||||
Accelerated share repurchase | (24,000) | ||||||
Purchases of common stock upon restricted stock vesting | (7,847) | (7,847) | |||||
Net income | 258,259 | 258,259 | |||||
Dividends | (83,363) | (83,363) | |||||
Foreign currency translation adjustments | 28,816 | 28,816 | |||||
Net unrealized gain (loss) on cash flow hedges, net of tax | 5,017 | 5,017 | [1] | ||||
Balance, end of year at Aug. 31, 2017 | $ 518 | $ 741,748 | $ (1,606,678) | $ 1,458,823 | $ (34,720) | $ 559,691 | |
[1] | The unrealized gain (loss) on cash flow hedges disclosed above was net of tax (expense) benefit of ($3,049), $498 and $512 for the fiscal years ended August 31, 2017, 2016 and 2015, respectively. |
Note 1 - Organization and Natur
Note 1 - Organization and Nature of Business | 12 Months Ended |
Aug. 31, 2017 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1. FactSet Research Systems Inc. (the “ Company” or “FactSet”) provides integrated financial information and analytical applications for the global investment community. The Company delivers insight and information to financial 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 buy-side and sell-side clients. These professionals include portfolio managers, wealth managers, research and performance analysts, risk managers, 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 | 12 Months Ended |
Aug. 31, 2017 | |
Notes to Financial Statements | |
Basis of Presentation and Significant Accounting Policies [Text Block] | 2. FactSet conducts business globally and is managed on a geographic basis. The accompanying consolidated financial statements include the accounts of the Company and it s wholly owned subsidiaries. All intercompany activity and balances have been eliminated from the consolidated financial statements. The Company ’s consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles. The preparation of consolidated financial statements and related disclosures in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates have been made in areas that include allocation of purchase price to acquired assets and liabilities, stock-based compensation, income taxes, accrued compensation, valuation of goodwill, and useful lives and valuation of fixed and intangible assets. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from those estimates. The Company has evaluated s ubsequent events through the date that the financial statements were issued. |
Note 3 - Summary of Significant
Note 3 - Summary of Significant Accounting Policies | 12 Months Ended |
Aug. 31, 2017 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 3. The significant accounting policies of the Company and its subsidiaries are summarized below. Revenue Recognition The majority of the Company’s revenues are derived from subscriptions to services such as workstations (also referred to as users), content and applications. The majority of clients are invoiced monthly to reflect the actual services provided. The remaining clients are invoiced quarterly, annually or biannually in advance. Subscription revenue is earned each month as the service is rendered to clients on a monthly basis. FactSet recognizes revenue when the client subscribes to FactSet services, the service has been rendered and earned during the month, the amount of the subscription is fixed or determinable based on established rates quoted on an annualized basis and collectability is reasonably assured. A provision for billing adjustments and cancellation of services is estimated and accounted for as a reduction to revenue, with a corresponding reduction to accounts receivable. Accounts Receivable and Deferred Fees Amounts that have been earned but not on the Consolidated Balance Sheets as Accounts receivable, net of reserves. Amounts invoiced in advance of client payments that are in excess of earned subscription revenues are reflected on the Consolidated Balance Sheet as Deferred fees. As of August 31, 2017, $5.3 2018 . The Company calculate s its receivable reserve through analyzing aged client receivables, reviewing the recent history of client receivable write-offs and understanding general market and economic conditions. In accordance with this policy, a receivable reserve of $2.7 $1.5 August 31, 2017 2016, Cost of Services Cost of services is comprised of compensation for Company employees within the content collection, consulting, product development, software and systems engineering groups in addition to data costs, computer maintenance and depreciation expenses, amortization of identifiable intangible assets, and client-related communication costs. Selling, General and Administrative Selling, general and administrative expenses include compensation for the sales and various other support and administrative departments in addition to travel and entertainment expenses, marketing costs, rent, amortization of leasehold improvements, depreciation of furniture and fixtures, office expenses, professional fees and other miscellaneous expenses. Research and Product Development Costs FactSet does not alue to clients. As such, research and product development costs relate to the salary and benefits for the Company’s product development, software engineering and technical support staff and, as such, these costs are expensed when incurred within cost of services as employee compensation. The Company expects to allocate a similar percentage of its workforce in future years in order to continue to develop new products and enhancements, respond quickly to market changes and meet the needs of its clients efficiently. FactSet incurred $215.0 2017, 2016 2015 . Earnings per Share Basic earnings per share (“ EPS”) is computed by dividing net income by the number of weighted average common shares outstanding during the period. Diluted EPS is computed by dividing net income by the number of weighted average common shares outstanding during the period increased by the dilutive effect of potential common shares outstanding during the period. The number of potential common shares outstanding has been determined in accordance with the treasury stock method to the extent they are dilutive. Common share equivalents consist of common shares issuable upon the exercise of outstanding share-based compensation awards, including employee stock options and restricted stock. Under the treasury stock method, the exercise price paid by the optionee, future stock-based compensation expense that the Company has not Comprehensive Income (Loss) The Company discloses comprehensive income (loss) in accordance with applicable standards for the reporting and display of comprehensive income (loss) in a set of financial statements. Comprehensive income (loss) is defined as the change in net assets of a business enterprise during a period from transactions generated from non-owner sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners. Fair Value Measures Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, the use of various valuation methodologies, including market, income and cost approaches is permissible. The Company considers the principal or most advantageous market in which it would transact and considers assumptions that market participants would use when pricing the asset or liability. The accounting guidance for fair value measurements establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. There are three may 1 2. no 3 August 31, 2017 2016 . Cash and Cash Equivalents Cash and cash equivalents consist of demand deposits and corporate money market funds with original maturities of three Investments Investments consist of certificates of deposits with original maturities greater than three one not . Investments also include mutual funds, which FactSet may twelve 2017, 2016 2015 $1.6 $1.6 $2.0 not 2017 2016. Property, Equipment and Leasehold Improvements Property, equipment and leasehold improvements are stated at cost, less accumulated depreciation an d amortization. Computers and related equipment are depreciated on a straight-line basis over estimated useful lives of three seven not not The Company performs a test for impairment whenever events or changes in circumstances indicate that the carrying amount of an individual asset or asset group may not e recoverable. Should projected undiscounted future cash flows be less than the carrying amount of the asset or asset group, an impairment charge reducing the carrying amount to fair value is required. Fair value is determined based on the most appropriate valuation technique, including discounted cash flows. Goodwill The Company is required to test goodwill for impairment annually, or more frequently if impairment indicators occur. Goodwill is tested for impairment based on the present value of discount ed cash flows, and, if impaired, written down to fair value based on discounted cash flows. FactSet has three no fourth 2017, no 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. Depending on the nature of the intangible asset, the identifiable intangible assets are amortized on either a straight-line or an accelerated basis using estimated useful lives ranging between two twenty no may not No Accrued Liabilities Accrued liabilities include estimates relating to employee compensation, operating expenses and tax liabilities. Approximately 15% ’s employee incentive compensation programs are discretionary. At the end of each fiscal year, FactSet conducts a final review of both Company and individual performance within each department to determine the amount of discretionary employee compensation. The Company also reviews compensation throughout the year to determine how overall performance tracks against management’s expectations. Management takes these and other factors, including historical performance, into account in reviewing accrued compensation estimates quarterly and adjusting accrual rates as appropriate. The amount of the variable employee compensation recorded within accrued compensation as of August 31, 2017 2016, $39.2 million and $38.2 Derivative Instruments FactSet conducts business outside the U.S. in several currencies includ ing the Indian Rupee, Philippine Peso, British Pound Sterling, Euro and Japanese Yen. 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 Foreign Currency Translation Certain wholly owned subsidiaries within the Europe an and Asia Pacific segments operate under a functional currency different from the U.S. dollar, such as the British Pound Sterling, Euro, Japanese Yen, Indian Rupee and Philippine Peso. The financial statements of these foreign subsidiaries are translated into U.S. dollars using period-end rates of exchange for assets and liabilities, and average rates for the period for revenues and expenses. Translation gains and losses that arise from translating assets, liabilities, revenues and expenses of foreign operations are recorded in AOCL as a component of stockholders’ equity. The accumulated foreign currency translation loss totaled $38.5 $67.3 August 31, 2017 2016, Income and Deferred Taxes Income tax expense is based on taxable income determined in accordance with current ly enacted laws and tax rates. Deferred income taxes are recorded for the temporary differences between the financial statement and tax bases of assets and liabilities using currently enacted tax rates. FactSet recognizes the financial effect of an income tax position only if it is more likely than not 50% no 50% August 31, 2017, $11.5 $1.5 Taxes Payable . Stock-Based Compensation Accounting guidance requires the measurement and recognition of compensation expense for all share-based payment awards made to employees and directors including stock opt ions, restricted stock and common shares acquired under employee stock purchases based on estimated fair values of the share awards that are scheduled to vest during the period. FactSet uses the straight-line attribution method for all awards with graded vesting features and service conditions only. Under this method, the amount of compensation expense that is recognized on any date is at least equal to the vested portion of the award on that date. For all stock-based awards with performance conditions, the graded vesting attribution method is used by the Company to determine the monthly stock-based compensation expense over the applicable vesting periods. As stock-based compensation expense recognized is based on awards ultimately expected to vest, it has been reduced for estimated forfeitures. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Forfeitures are estimated based primarily on historical experience. Windfall tax benefits, defined as tax deductions that exceed recorded stock-based compensation, are classified as cash inflows from financing activities. Performance-based stock options require management to make assumptions regarding the likelihood of ach ieving Company performance targets on a quarterly basis. The number of performance-based options that vest will be predicated on the Company achieving certain performance levels. A change in the financial performance levels the Company achieves could result in changes to FactSet’s current estimate of the vesting percentage and related stock-based compensation. Treasury Stock The Company accounts for repurchased common stock under the cost method and includes such treasury stock as a component of its stockho lders’ equity. At the time treasury stock retirement is approved by FactSet’s Board of Directors, the Company’s accounting policy is to deduct its par value from common stock, reduce APIC by the amount recorded in APIC when the stock was originally issued and any remaining excess of cost as a deduction from retained earnings. Operating Leases The Company conducts all of its operations in leased facilities which have minimum lease obligations under non-cancelable operating leases. Certain of these leases co ntain rent escalations based on specified percentages. Most of the leases contain renewal options and require payments for taxes, insurance and maintenance. Rent expense is charged to operations as incurred except for escalating rents, which are charged to operations on a straight-line basis over the life of the lease. Lease incentives, relating to allowances provided by landlords, are amortized over the term of the lease as a reduction of rent expense. Costs associated with acquiring a subtenant, including broker commissions and tenant allowances, are amortized over the sublease term as a reduction of sublease income. Business Combinations The Company records acquisitions using the purchase method of accounting. All of the assets acquired, liabilities assu med, contractual contingencies and contingent consideration are recognized at their fair value on the acquisition date. The application of the purchase method of accounting for business combinations requires management to make significant estimates and assumptions in the determination of the fair value of assets acquired and liabilities assumed in order to properly allocate purchase price consideration between assets that are depreciated and amortized from goodwill. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. Acquisition-related expenses and restructuring costs are recognized separately from the business combination and are expensed as incurred. Concentrations of Risk Cash and cash equivalents are maintained with several financial institutions. Deposits held with banks may may inancial institutions with reputable credit and therefore bear minimal credit risk. The Company seeks to mitigate its credit risks by spreading such risks across multiple counterparties and monitoring the risk profiles of these counterparties. New Accounting Standards or Updates Recently Adopted As of the beginning of fiscal 2017, (“FASB”) that were in effect. There were no three Revenue Recognition In May 2014 July 2015, recognizing revenue arising from contracts with clients and supersede most current revenue recognition guidance, including industry-specific guidance. The core principle of the revenue model is that an entity recognizes revenue to depict the transfer of promised goods or services to clients in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. These accounting standard updates will be effective for FactSet beginning in the first 2019, 2018 Balance Sheet Classification of Deferred Taxes In November 2015, will require an entity to present all deferred tax assets and deferred tax liabilities as non-current on the balance sheet. Under the current guidance, entities are required to separately present deferred taxes as current or non-current. Netting deferred tax assets and deferred tax liabilities by tax jurisdiction will still be required under the new guidance. This guidance is effective for FactSet beginning in the first 2018. not Recognition and Measurement of Financial Assets and Financial Liabilities In January 2016, e FASB issued an accounting standard update to amend its current guidance on the classification and measurement of certain financial instruments. The accounting standard update significantly revises an entity’s accounting related to the presentation of certain fair value changes for financial liabilities measured at fair value. This guidance also amends certain disclosure requirements associated with the fair value of financial instruments. This guidance will be effective for FactSet beginning in the first 2019. Leases In February 2016, The guidance introduces a lessee model that requires most leases to be reported on the balance sheet. The accounting standard update aligns many of the underlying principles of the new lessor model with those in the FASB’s new revenue recognition standard. The guidance also eliminates the requirement in current U.S. GAAP for an entity to use bright-line tests in determining lease classification. This accounting standard update will be effective for FactSet beginning in the first 2020, 2019 Share-Based Payments In March 2016, implifies several aspects of the accounting for employee share-based payment transactions, including the accounting for income taxes, forfeitures and statutory tax withholding requirements, as well as classification in the statement of cash flow. This accounting standard update will be effective for FactSet beginning in the first 2018. 2018 In May 2017, not first 2019, . Cash Flow Simplification In August 2016, accounting standard update which simplifies how certain transactions are classified in the statement of cash flows. This includes revised guidance on the cash flow classification of debt prepayments and debt extinguishment costs, contingent consideration payments made after a business combination and distributions received from equity method investments. The guidance is intended to reduce diversity in practice across all industries. This accounting standard update will be effective for FactSet beginning in the first 2019. Income Taxes on Intra-Entity Transfers of Assets In October 2016, ng standard update which removes the prohibition against the immediate recognition of the current and deferred income tax effects of intra-entity transfers of assets other than inventory. The guidance is intended to reduce diversity in practice related to the tax consequences of certain types of intra-entity asset transfers, particularly those involving intellectual property. This accounting standard update will be effective for FactSet beginning in the first 2019. Goodwill Impairment Test In January 2017, air value of goodwill with its carrying amount as part of step 2 not first 2021, January 1, 2017 not . Hedge Accounting Simplification In August 2017, update to reduce the complexity of and simplify the application of hedging accounting. The guidance refines and expands hedge accounting for both financial and nonfinancial risk components, eliminates the need to separately measure and report hedge ineffectiveness, and aligns the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. This guidance will be effective for FactSet beginning in the first 2020, No cements issued or effective as of August 31, 2017 , have had or are expected to have an impact on the Company’s consolidated financial statements. |
Note 4 - Fair Value Measures
Note 4 - Fair Value Measures | 12 Months Ended |
Aug. 31, 2017 | |
Notes to Financial Statements | |
Fair Value, Measurement Inputs, Disclosure [Text Block] | 4. Fair value is defined as the price that would be received from selling an asset or pai d 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 - applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. These Level 1 Level 2 - applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. The Company’s certificates of deposit and derivative instruments are classified as Level 2. Level 3 - applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. There were no 3 August 31, 2017 2016 . ( a ) Assets and Liabilities Measured at Fair Value on a Recurring Basis The following tables shows by level within the fair value hierarchy the Co mpany’s assets and liabilities that are measured at fair value on a recurring basis at August 31, 2017 2016: Fair Value Measurements at August 31, 2017 (in thousands) Level 1 Level 2 Level 3 Total Assets Corporate money market funds (1) $ 26,677 $ — $ — $ 26,677 Mutual Funds (2) — 18,364 — 18,364 Certificates of deposit (3 ) — 14,080 — 14,080 Derivative instruments (4 ) — 6,142 — 6,142 Total assets measured at fair value $ 26,677 $ 38,586 $ — $ 65,263 Liabilities Derivative instruments ( 4 ) $ — $ — $ — $ — Total liabilities measured at fair value $ — $ — $ — $ — Fair Value Measurements at August 31, 201 6 (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 classif ied as Level 1 ash and cash equi valents within the Consolidated B alance S heet s . ( 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 ( 3 The Company ’s c ertificates of deposit held for investment are not and are classified as Level 2 . These certificates of deposit have original maturities greater than three one nd, as such, are classified as I nvestments (short-term ) within the Consolidated Balance Sheets . ( 4 The Company utilizes the income approach to measure fair value for its derivative instruments ( foreign exchange forward contracts) . The income approach uses pricing models that rely on market observable inputs such as spot, forward and interest rates , as well as credit default swap spreads and therefore are classified as Level 2. The Company did not 1 2 the periods presented. ( 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 liabil ities are not may 2017 2016, no (c) Assets and Liabilities Measured at Fair Value for Discl osure Purposes only As of August 31, 2017 2016, $575.0 $300.0 2 . |
Note 5 - Derivative Instruments
Note 5 - Derivative Instruments | 12 Months Ended |
Aug. 31, 2017 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 5. Cash Flow Hedges FactSet conducts business outside the U.S. in sever al 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 2017 2016, no As of August 31, 2017, 75% third 2019. The following is a summary of all hedging positions and correspo nding fair values: Gross Notional Value Fair Value (Liability) Asset Currency Hedged ( in thousands, in U.S. dollars) Aug ust 31, 2017 Aug ust 31, 2016 Aug ust 31, 2017 Aug ust 31, 2016 British Pound Sterling $ — $ 33,280 $ — $ (2,791 ) Indian Rupee 51,000 58,410 6,142 869 Total $ 51,000 $ 91,690 $ 6,142 $ (1,922 ) As of August 31, 2017, 3.8 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 tables provide a summary of the fair value amounts of derivative instruments a nd gains and losses on derivative instruments: Designation of Derivatives (in thousands) Balance Sheet Location Aug ust 31, 2017 Aug ust 31, 2016 Derivatives designated as hedging instruments Assets: Foreign Currency Forward Contracts Prepaid expenses and other current assets $ 3,796 $ 163 Other assets $ 2,346 $ 706 Liabilities: Foreign Currency Forward Contracts Accounts payable and accrued expenses $ — $ 2,791 Deferred rent and other non-current liabilities $ — $ — All derivatives were designated as hedging instruments as of August 31, 201 7 2016, Derivatives in Cash Flow Hedging Relationships The following table provides the pre-tax effect of derivative instruments in ca sh flow hedging relationships for the each of the three August 31, (in thousands): Gain (Loss) Recognized in AOCL on Derivatives Location of Loss Loss Reclassified from AOCL into Income (Effective Portion) Derivatives in Cash Flow Hedging Relationships 2017 201 6 201 5 AOCL into Income 201 7 201 6 201 5 Foreign currency forward contracts $ 5,183 $ (1,806 ) $ (1,939 ) SG&A $ (2,883 ) $ (451 ) $ (559 ) No ’s gain or loss was included in the assessment of hedge effectiveness. As of August 31, 2017, $3.8 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 August 31, 2017 2016, no |
Note 6 - Other Comprehensive (L
Note 6 - Other Comprehensive (Loss) Income and Accumulated Other Comprehensive Loss | 12 Months Ended |
Aug. 31, 2017 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | 6. The components of other comprehensive (loss) income during the fiscal years ended August 31, 2017, 2016 2015 Aug ust 31, 201 7 August 31, 201 6 August 31, 2015 (in thousands) Pre-tax Net of tax Pre-tax Net of tax Pre-tax Net of tax Foreign currency translation adjustments $ 28,816 $ 28,816 $ (23,644 ) $ (23,644 ) $ (25,263 ) $ (25,263 ) Realized loss on cash flow hedges reclassified to earnings (1) 2,883 1,813 451 284 559 352 Unrealized gain (loss) on cash flow hedges recognized in AOCL 5,183 3,204 (1,806 ) (1,141 ) (1,939 ) (1,220 ) Other comprehensive (loss) income $ 36,882 $ 33,833 $ (24,999 ) $ (24,501 ) $ (26,643 ) $ (26,131 ) ( 1 Reclassified to Selling, General and Administrative Expenses The components of AOCL are as follows: (in thousands) Aug ust 31, 201 7 August 31, 201 6 Accumulated unrealized losses on cash flow hedges, net of tax $ 3,802 $ (1,215 ) Accumulated foreign currency translation adjustments (38,522 ) (67,338 ) Total accumulated other comprehensive loss $ (34,720 ) $ (68,553 ) |
Note 7 - Segment Information
Note 7 - Segment Information | 12 Months Ended |
Aug. 31, 2017 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 7. Operating segments are defined as components of an enterprise that engage in business activities from which they may e operating results are regularly reviewed by the enterprise’s chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance, and for which discrete financial information is available. Financial information at the operating segment level is reviewed jointly by the Chief Executive Officer (“CEO”) and senior management. Senior management consists of executives who directly report to the CEO, comprising the Chief Financial Officer , Chief Operating Officer, Global Head of Sales and Client Solutions, General Counsel, and Chief Human Resources Officer. Senior management, along with the CEO, constitute FactSet’s chief operating decision making group (“CODMG”) and is responsible for making decisions about resources allocated among the operating segments based on actual results. 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 . The European and Asia Pacific segments service investment professionals located throughout Europe and the Asia Pacific region, respectively. The accounting policies of the segments are the same as those described in the Note 3, Summary of Significant Accounting Policies The European segment maintains office locations in Bulgaria, Dubai, England , France, Germany, Italy, Latvia, the Netherlands, Spain, and Switzerland. The Asia Pacific segment has office locations in Australia, Hong Kong, India, Japan, and Singapore. Segment revenues reflect direct sales to clients based in their respective geographic locations. There are no Expenditures associated with the Company ’s data centers, third not $707.6 August 31, 2017, 54% 45% 1% The following reflects the results of operations of the segments consistent with the Company ’s management system. These results are used, in part, by management, both in evaluating the performance of, and in allocating resources to, each of the segments . (in thousands) Year Ended August 31, 201 7 U.S. Europe Asia Pacific Total Revenues from clients $ 784,146 $ 330,332 $ 106,701 $ 1,221,179 Segment operating profit 137,104 153,676 61,355 352,135 Total assets 703,941 609,368 100,006 1,413,315 Depreciation and amortization 35,244 9,837 3,213 48,294 Stock-based compensation 30,247 3,320 616 34,183 Capital expenditures 29,561 2,385 4,916 36,862 Year Ended August 31, 201 6 U.S. Europe Asia Pacific Total Revenues from clients $ 755,492 $ 277,682 $ 93,918 $ 1,127,092 Segment operating profit 165,251 131,410 53,015 349,676 Total assets 654,796 279,864 84,501 1,019,161 Depreciation and amortization 31,529 4,220 2,303 38,052 Stock-based compensation 25,776 3,459 558 29,793 Capital expenditures 38,631 4,092 5,017 47,740 Year Ended August 31, 201 5 U.S. Europe Asia Pacific Total Revenues from clients $ 678,774 $ 251,522 $ 76,472 $ 1,006,768 Segment operating profit 172,980 116,310 42,628 331,918 Total assets 427,990 239,689 68,992 736,671 Depreciation and amortization 23,645 5,135 2,569 31,349 Stock-based compensation 23,006 2,991 374 26,371 Capital expenditures 22,459 460 2,763 25,682 GE OGRAPHIC INFORMATION - The following table sets forth information for those countries that are 10% Years e nded August 31, (in thousands) 201 7 201 6 201 5 Revenues (1) United States $ 784,146 $ 755,492 $ 678,774 United Kingdom 163,732 154,902 144,769 All other European countries 166,600 122,780 106,753 Asia Pacific 106,701 93,918 76,472 Total revenues $ 1,221,179 $ 1,127,092 $ 1,006,768 ( 1 Revenues are attributed to countries based on the location of the client. The following table sets forth long- lived assets by geographic area: At August 31, (in thousands) 201 7 201 6 201 5 Long-lived Assets ( 1 ) United States $ 79,299 $ 70,646 $ 49,923 United Kingdom 6,012 5,772 3,655 All other European countries 6,306 1,018 1,322 Asia Pacific 8,837 7,186 4,364 Total long-lived assets $ 100,454 $ 84,622 $ 59,264 ( 1 ) Long-lived assets consist of property, equipment and leasehold improvements, net of accumulated depreciation and amortization and exclude goodwill, intangible assets, deferred taxes and other assets. |
Note 8 - Business Combinations
Note 8 - Business Combinations | 12 Months Ended |
Aug. 31, 2017 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 8. BISAM On March 17, 2017, Technologies (“BISAM”) for a total purchase price of $217.6 160 $3.2 2017 Allocation of the purchase price to the assets acquired and liabilities assumed was finalized during the fourth 2017. no (i n thousands) Tangible assets acquired $ 27,583 Amortizable intangible assets Software technology 18,261 Client relationships 37,597 Trade name 741 Goodwill 173,898 Total assets acquired $ 258,080 Liabilities assumed (40,443 ) Net assets acquired $ 217,637 Intangible assets of $56.6 16 g an accelerated amortization method; software technology, amortized over five four Goodwill totaling $17 3 .9 not March 17, 2017. not not Vermilion On November 8, 2016, Vermilion”) for a total purchase price of $67 .9 59 $0.7 2017 Allocation of the purchase price to the assets acquired and liabilities assumed was finalized during t he third 2017. no (i n thousands) Tangible assets acquired $ 7,916 Amortizable intangible assets Software technology 10,916 Client relationships 5,954 Non-compete agreements 806 Trade name 571 Goodwill 51,157 Total assets acquired $ 77,320 Liabilities assumed (9,434 ) Net assets acquired $ 67,886 Intangible assets of $18.2 15 amortization method; software technology, amortized over six three four Goodwill totaling $51.2 not November 8, 2016. not not Portware LLC On October 16, 2015, Portware”) for a total purchase price of $263.6 166 $0.7 August 31, 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 ass ets of $75.5 16 eight seven five Goodwill totaling $ 187.4 77% October 16, 2015. not not |
Note 9 - Dispositions
Note 9 - Dispositions | 12 Months Ended |
Aug. 31, 2017 | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | 9. During the third 2016, (the “Purchase Agreement”) pursuant to which the Company agreed to sell its market research business, consisting of Market Metrics LLC and Matrix-Data Limited (collectively “Market Metrics” or the “disposal group”) and associated assets (the “Transaction”). On July 1, 2016, $165.0 , less estimated working capital and certain adjustments set forth in the Purchase Agreement, including a $9.7 $112.5 fourth 2016, o ther (expense) income second 2017, $1.2 other (expense) income The Company assessed the Transaction and the disposal group and determined that the sale does not ts business that has a major effect on its consolidated results of operations, financial position or cash flows. Accordingly, the disposal group is not |
Note 10 - Goodwill
Note 10 - Goodwill | 12 Months Ended |
Aug. 31, 2017 | |
Notes to Financial Statements | |
Goodwill Disclosure [Text Block] | 10. Changes in the carrying amount of goodwill by segment for fiscal years ended August 31, 2017 2016 (in thousands) U.S. Europe Asia Pacific Total Balance at August 31, 2015 $ 211,869 $ 93,725 $ 2,693 $ 308,287 Acquisitions and other adjustments 187,352 — — 187,352 Disposition (31,741 ) (665 ) — (32,406 ) Foreign currency translations — (10,780 ) 462 (10,318 ) Balance at August 31, 2016 $ 367,480 $ 82,280 $ 3,155 $ 452,915 Acquisitions and other adjustments 19,355 216,047 — 235,402 Foreign currency translations — 19,432 (189 ) 19,243 Balance at August 31, 201 7 $ 386,835 $ 317,759 $ 2,966 $ 707,560 Goodwill is not for potential impairment, and, if impaired, write down to fair value based on the present value of discounted cash flows. The Company’s reporting units evaluated for potential impairment were the U.S., Europe and Asia Pacific, which reflect the level of internal reporting the Company uses to manage its business and operations. The three no fourth 2017, no 2017 $235.4 2017 . |
Note 11 - Intangible Assets
Note 11 - Intangible Assets | 12 Months Ended |
Aug. 31, 2017 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | 11. FactSet ’s identifiable intangible assets consist of acquired content databases, client relationships, software technology, non-compete agreements and trade names resulting from previous acquisitions, which have been fully integrated into the Company’s operations. The weighted average useful life of the Company’s acquired intangible assets at August 31, 2017 11.5 no 2017, 2016 2015 . Amortizable intangible assets are tested for impairment , if indicators are present, based on undiscounted cash flows, and, if impaired, written down to fair value based on discounted cash flows. No no During fiscal 201 7, $93.2 11.5 2017 Acquired Intangible Assets Allocation (in thousands) Amortization Period (years) Acquisition Cost Client relationships 16.1 $ 50,152 Software technology 6.3 40,826 Non-compete agreements 3.1 862 Trade name 4.0 1,354 Total 11.5 $ 93,194 The gross carrying amounts and accumulated amortization totals related to the Company ’s identifiable intangible assets are as follows: At August 31, 201 7 (in thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Data content $ 34,116 $ 18,899 $ 15,217 Client relationships 99,779 22,339 77,440 Software technology 105,963 30,889 75,074 Non-compete agreements 4,833 1,518 3,315 Trade names 4,080 1,583 2,497 Total $ 248,771 $ 75,228 $ 173,543 At August 31, 20 16 (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 rec orded for intangible assets during fiscal years 2017, 2016 2015 $19.9 $14.8 $8.2 August 31, 2017, five Fiscal Year (in thousands) Estimated Amortization Expense 201 8 $ 24,475 201 9 23,634 20 20 22,978 202 1 21,404 202 2 19,081 Thereafter 61,971 Total $ 173,543 |
Note 12 - Property, Equipment a
Note 12 - Property, Equipment and Leasehold Improvements | 12 Months Ended |
Aug. 31, 2017 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 12. Property, equipment and leasehold improvements consist of the following: August 31, (in thousands) 201 7 201 6 Leasehold improvements $ 113,760 $ 103,238 Computers and related equipment 138,195 110,661 Furniture and fixtures 42,532 39,375 Subtotal $ 294,487 $ 253,274 Less accumulated depreciation and amortization (194,033 ) (168,652 ) Property, equipment and leasehold improvements, net $ 100,454 $ 84,622 Depreciation expense was $28.0 $23.3 $23.1 2017, 2016 2015, |
Note 13 - Common Stock and Earn
Note 13 - Common Stock and Earnings Per Share | 12 Months Ended |
Aug. 31, 2017 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 13. On May 5, 2017, 12.0% $0.50 $0.56 $2.24 Shares of common st ock outstanding were as follows: Years ended August 31, (in thousands) 201 7 201 6 201 5 Balance, beginning of year (September 1) 40,038 41,317 41,793 Common stock issued for employee stock plans 693 823 1,213 Repurchase of common stock from employees (1) (50 ) (28 ) (23 ) Repurchase of common stock under the share repurchase program (1,555 ) (1,478 ) (1,666 ) Repurchase of common stock under accelerated share repurchase agreement (103 ) (596 ) — Balance, end of year (August 31) 39,023 40,038 41,317 ( 1 For fiscal 2017, 2016 2015 , the Company repurchased 49,771 , 27,625 23,192 res, or $ 7.8 million, $4.5 $3.1 restricted stock. A reconciliation of the weighted average shares outstanding used in the basic and diluted EPS computations is as follows: (in thousands, except per share data) Net Income (Numerator) Weighted Average Common Shares (Denominator) Per Share Amount Fo r the year ended August 31, 2017 Basic EPS Income available to common stockholders $ 258,259 39,444 $ 6.55 Diluted EPS Dilutive effect of stock options and restricted stock 198 Income available to common stockholders plus assumed conversions $ 258,259 39,642 $ 6.51 For the year ended August 31, 201 6 Basic EPS Income available to common stockholders $ 338,815 40,880 $ 8.29 Diluted EPS Dilutive effect of stock options and restricted stock 485 Income available to common stockholders plus assumed conversions $ 338,815 41,365 $ 8.19 For the year ended August 31, 201 5 Basic EPS Income available to common stockholders $ 241,051 41,572 $ 5.80 Diluted EPS Dilutive effect of stock options and restricted stock 663 Income available to common stockholders plus assumed conversions $ 241,051 42,235 $ 5.71 Dilutive potential common s hares consist of stock options and unvested restricted stock. There were 704,786 , 507,658 88,090 2017, 2016 2015 As of August 31, 2017 , 2016 2015, 415,061, 782,843 478,945, . |
Note 14 - Stockholders' Equity
Note 14 - Stockholders' Equity | 12 Months Ended |
Aug. 31, 2017 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 14. Preferred Stock At August 31, 201 7 2016, 10,000,000 $.01 no may one Common Stock At August 31, 20 17 2016, 150,000,000 $.01 51,845,132 51,150,978 Treasury Stock At August 31, 201 7 2016, 12,822,100 11,112,753 39,023,032 40,038,225 August 31, 2017 2016, Share Repurchase Program Repurchases will be made from time to time in the open market and privately negotiate d transactions, subject to market conditions. During fiscal 2017, 1,554,822 $252.8 2016, 1,478,000 $232.3 On July 1, 2016, rated share repurchase agreement (the “ASR Agreement”) to repurchase $120.0 595,607 July 5, 2016, 80% first 2017 102,916 On March 27, 2017, tSet approved a $300.0 August 31, 2017, $244.1 No no Restricted Stock Restricted stock awards entitle the holder to shares of common stock as the awar ds vest over time. During fiscal 2017, 132,194 August 31, 2017 ( 49,771 $7.8 2016, 69,244 August 31, 2016 ( 27,625 $4.5 Dividends The Company ’s Board of Directors declared the following dividends during the periods presented: Declaration Date Dividends Per Share of Type Record Date Total $ Amount (in thousands) Payment Date August 10, 2017 $ 0.56 Regular (cash) August 31, 201 7 $ 21,853 September 19, 2017 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) February 29, 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 May 12, 2015 $ 0.44 Regular (cash) May 29, 2015 $ 18,274 June 16, 2015 February 11, 2015 $ 0.39 Regular (cash) February 27, 2015 $ 16,236 March 17, 2015 November 12, 2014 $ 0.39 Regular (cash) November 28, 2014 $ 16,216 December 16, 2014 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 15 - Stock Option and Reti
Note 15 - Stock Option and Retirement Plans | 12 Months Ended |
Aug. 31, 2017 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | 15. Stock Options The FactSet Research Systems Inc. 2004 mended and Restated (the “Option Plan”) provides for the grant of share-based awards, including stock options and restricted stock awards to employees of FactSet. The expiration date of the Option Plan is December 14, 2020. seven ten five not may As of Augu st 31, 2017, 3,366,070 $139.29. $57.7 3.3 Stock Option Activity In fiscal years 201 7, 2016 2015, 1,026,984, 1,195,649, 828,652 $157.09, $168.14 $141.79 2017, 2016 2015, 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, 2014 3,482 $ 79.67 Granted – non performance-based 677 $ 140.49 Granted – performance-based 138 $ 148.52 Granted – non-employee Directors grant 14 $ 138.48 Exercised (1,060 ) $ 63.03 Forfeited (134 ) $ 106.01 Balance at August 31, 2015 3,117 $ 100.71 Granted – non performance-based 622 $ 171.18 Granted – performance-based 551 $ 165.59 Granted – non-employee Directors grant 23 $ 146.82 Exercised (681 ) $ 71.52 Forfeited (268 ) $ 113.70 Balance at August 31, 2016 3,364 $ 129.54 Granted – non performance-based 713 $ 152.89 Granted – performance-based 291 $ 166.29 Granted – non-employee Directors grant 24 $ 170.24 Exercised (487 ) $ 86.17 Forfeited (539 ) $ 160.31 Balance at August 31, 201 7 3,366 $ 139.29 Stock Options Outstanding and Exercisable The following table summarizes ranges of outstanding and exercisable options as of August 31, 2017 ( Outstanding Exercisable Range of Exercise Prices Per Share Number Outstanding Weighted Average Remaining Years of Contractual Life Weighted Average Exercise Price Per Share Aggregate Intrinsic Value Number Exercisable Weighted Average Exercise Price Per Share Aggregate Intrinsic Value $87.26 - $92.22 627 4.7 $ 91.59 $ 41,122 536 $ 91.61 $ 35,146 $94.84 - $110.31 306 4.9 $ 99.02 $ 17,797 240 $ 97.41 $ 14,345 $131.31 - $148.52 540 7.1 $ 135.46 $ 11,730 4 $ 138.48 $ 75 $150.81 - $152.28 729 9.1 $ 152.25 $ 3,595 20 $ 152.05 $ 102 $159.14 - $170.24 692 8.7 $ 165.23 $ — 27 $ 164.90 $ — $171.22 - $175.20 472 8.1 $ 173.39 $ — 91 $ 175.20 $ — Total Fiscal 201 7 3,366 7.4 $ 139.29 $ 74,244 918 $ 105.14 $ 49,668 Prior Year Amounts August 31, 2016 August 31, 2015 Number of Shares Weighted Average Exercise Price Per Share Number of Shares Weighted Average Exercise Price Per Share Outstanding at fiscal year end 3,364 $ 129.54 3,117 $ 100.71 Exercisable at fiscal year end 970 $ 89.42 1,352 $ 78.70 The aggregate intrinsic value of in-the-money stock options exercisable at August 31, 2017 2016 $49.7 $86.0 $157.18 August 31, 2017 August 31, 2017 2016 5.1 4.5 2017, 2016 2015 $38.0 $60.8 $92.7 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 February 2015 In connection with the acquisition of Code Red, FactSet granted 137,522 rmance-based stock options during the second 2015. 68,761 two February 28, 2017. 70% February 28, 2019 August 31, 2017, $0.8 1.4 The remaining 68,761 February 2015 vest based on a four February 28, 2019. August 31, 2017, $0.4 1.4 Vesting Percentage (in thousands) Cumulative Catch-up Adjustment* Remaining Expense to be Recognized 0% $ (769 ) $ — 10% $ (577 ) $ 108 40% (current expectation) $ — $ 431 70% $ 577 $ 755 100% $ 1,153 $ 1,078 * Amounts represent the cumulative catch-up adjustment to be recorded if there was a change in the vesting percentage as of August 31, 2017. O ctober 2015 and August 2016 Performance-based Option Grant Review In connection with the acquisition of Portware during the first 2016, FactSet granted 530,418 fourth 2017, 70% $1.8 40% second 20% August 31, 2017, $2.9 3.1 FactSet granted 20,911 fourth 2016 fourth 2017, 70% $0.1 40% second 20% August 31, 2017, $0.4 3.9 January 2017 In connection with the acquisition of Vermilion, FactSet granted 61,744 in January 2017. 40% second 20% November 30, 2018. August 31, 2017, not no Vesting Percentage (in thousands) Cumulative Catch-up Adjustment* Remaining Expense to be Recognized 0% (current expectation) $ — $ — 100% $ 338 $ 2,367 * Amounts represent the cumulative catch-up adjustment to be recorded if there was a change in the vesting percentage as of August 31, 2017. June 2017 In connection with the acquisition of BISAM, FactSet granted 206,417 June 2017. 40% second 20% March 31, 2019. August 31, 2017, not no Vesting Percentage (in thousands) Cumulative Catch-up Adjustment* Remaining Expense to be Recognized 0% (current expectation) $ — $ — 80% $ 237 $ 6,870 90% $ 267 $ 7,729 100% $ 296 $ 8,588 * Amounts represent the cumulative catch-up adjustment to be recorded if there was a change in the vesting percentage as of August 31, 2017. Restricted Stock and Stock Unit Awards The Company ’s Option Plan plans permit 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 In fiscal years 2017, 2016 2015, 62,400, 97,319 54,862 $158.26, $159.64 $138.23 2017, 2016 2015, As of August 31, 2017, 182,175 $19.1 3.4 A summary of re stricted 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, 2014 368 $ 89.77 Granted (restricted stock and stock units) 55 $ 138.23 Vested ( 1 ) (95 ) $ 70.94 Canceled/forfeited (15 ) $ 101.04 Balance at August 31, 2015 313 $ 103.34 Granted (restricted stock and stock units) 97 $ 159.64 Vested ( 2 ) (69 ) $ 85.04 Canceled/forfeited (79 ) $ 112.51 Balance at August 31, 2016 262 $ 126.27 Granted (restricted stock and stock units) 62 $ 158.26 Vested (3) (132 ) $ 123.28 Canceled/forfeited (10 ) $ 130.32 Balance at August 31, 201 7 182 $ 138.62 ( 1 The 94,870 2015 53,495 October 23, 2009 , which cliff vested 60% three October 23, 2012) 40% five October 23, 2014); 14,683 April 8, 2013, 20% 17,228 February 9, 2010; and 9,464 November 2013 November 2014. ( 2 The 69,244 restricted stock awards that vested during fiscal 2016 were comprised of: 37,079 November 8, 2010 (remaining 40% and 14,683 April 8, 2013, 20% . Additionally, 17,482 other grants . ( 3 The 132,194 2017 73,522 November 1, 2013, 60% three 17,328 October 16, 2015, 20% 30,162 October 16, 2015, 100% Additionally, 11,182 Share-based Awards Available for Grant A summary of share-based awar ds available for grant is as follows: (in thousands) Share-based Awards Available for Grant under the Employee Stock Option Plan Share-based Awards Available for Grant under the Non-Employee Stock Option Plan Balance at August 31, 2014 3,222 102 Granted – non performance-based options (677 ) — Granted – performance-based options (138 ) — Granted – non-employee Directors grant — (14 ) Restricted stock awards granted (1) (137 ) — Share-based awards canceled/forfeited (2) 171 — Balance at August 31, 2015 2,441 88 Granted – non performance-based options (622 ) — Granted – performance-based options (551 ) — Granted – non-employee Directors grant — (22 ) Restricted stock awards granted (1) (243 ) — Share-based awards canceled/forfeited (2) 466 — Balance at August 31, 2016 1,491 66 Granted – non performance-based options (713 ) — Granted – performance-based options (291 ) — Granted – non-employee Directors grant — (24 ) Restricted stock awards granted (1) (156 ) — Share-based awards canceled/forfeited (2) 566 — Balance at August 31, 201 7 897 42 ( 1 Each restricted stock award granted is equivalent to 2.5 ’s Option P lan. ( 2 Under the Company ’s O ption P lan, for each restricted stock award canceled/forfeited, an equivalent of 2.5 Employee Stock Purchase Plan Shares of FactSet common stock may ended and Restated FactSet Research Systems Inc. 2008 three 85% first three may not 10% During fiscal 201 7, 75,372 73,072 2016 63,265 2015. August 31, 2017, 333,172 401 The Company established it s 401 1993. 401 1974 1986 may 60% 4% five $10.1 $9.7 $8.6 401 2017, 2016 2015, |
Note 16 - Stock-based Compensat
Note 16 - Stock-based Compensation | 12 Months Ended |
Aug. 31, 2017 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 16. The Company recognized total st ock-based compensation expense of $34.2 $29.8 $26.4 2017, 2016 2015, August 31, 2017, $76.9 3.3 no August 31, 2017 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 201 7 671,263 performance-based employee stock options and 22,460 $152.51 $39.60 Q2 201 7 61,744 $169.16 $43.81 Q3 201 7 11,604 performance-based employee stock options were granted at a weighted average exercise price of $163.05 $42.23 . Q4 201 7 29,650 non performance-based employee stock options and 206,417 $165.75 $42.93 Q1 2016 513,785 530,418 ons were granted at a weighted average exercise price of $170.21 $46.62 Q2 2016 4,073 $150.81 value of $40.51 Q3 2016 103,903 $152.10 $40.57 Q4 2016 20,911 t an exercise price of $171.22 $47.82 Q1 2015 462,913 $131.31 $3 7.67 Q2 2015 25,075 137,522 $147.05 $43.05 Q3 2015 61,210 $159.14 $44.95 Q4 2015 128,090 granted at a weighted average exercise price of $165.02 $54.10 The weighted average estimated fair value of employee stock options granted during fiscal 2017, 2016 2015 201 7 201 6 201 5 Term structure of risk-free interest rate 0.07% - 2.09% 0.07% - 2.1% 0.01% - 2.3% Expected life (years) 7.4 - 8.1 7.3 - 8.1 5.8 - 9.4 Term structure of volatility 21% - 30% 21% - 30% 20% - 31% Dividend yield 1.18% 1.09% 1.32% Weighted average estimated fair value $40.68 $46.08 $41.87 Weighted average exercise price $156.77 $168.55 $141.84 Fair value as a percentage of exercise price 25.9% 27.3% 29.5% The risk-fr ee 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 on-Employee Directors’ Stock Option Plan (the “Directors’ Plan”) provides for the grant of share-based awards, including stock options, to non-employee directors of FactSet. A total of 250,000 December 1, 2018. The Company utilizes the Black-Scholes model to estimate the fair value of new non-employee Director stock option grants. The Company ’s determination of fair value of share-based payment awards on the date of grant is affected by the Company’s stock price as well as assumptions regarding a number of variables. These variables include, but are not F iscal 2017 On January 1 3, 2017, 23,846 one 2,104 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 Company’s non-employee Directors, including a one 2,417 December 15, 2015. January 15, 2016 , have a weighted average estimated fair value of $31.03 Risk-free interest rate 1.62 % Expected life (years) 5.4 Expected volatility 23.0 % Dividend yield 1.05 % Fiscal 2015 On Janua ry 15, 2015, 13,842 $28.18 Risk-free interest rate 1.45 % Expected life (years) 5.4 Expected volatility 23 % Dividend yield 1.30 % Restricted Stock Fair Value Determinations Restricted stock granted to employees entitle the holder to shares of common stoc k as the award vests over time, but not Q1 201 7 5,084 shares of restricted stock were granted at a weighted average estimated fair value of $151.63 Q2 201 7 7,843 shares of restricted stock were granted at a weighted average estimated fair value of $161.31 Q3 201 7 No restricted stock granted . Q4 201 7 49,473 shares of restricted stock were granted at a weighted average estimated fair value of $158.46 Q1 2016 93,120 shares of restricted stock were granted at a weighted average estimated fair value of $159.46 Q 2 2016 No . Q3 2016 255 shares of restricted stock were granted at a weighted average estimated fair value of $146.20 Q4 2016 3,944 shares of restricted stock were granted at a weighted average estimated fair value of $164.77 Q1 2015 10,225 shares of restricted stock were granted at a weighted average estimated fair value of $127.58 Q2 2015 38,088 shares of restricted stock were granted at a weighted average estimated fair value of $137.83 Q3 2015 845 shares of restricted stock were granted at a weighted average estimated fair value of $152.77 Q4 2015 5,704 shares of restricted stock were granted at a weighted average estimated fair value of $157.84 Employee Stock Purchase Plan Fair Value Determinations During fiscal 201 7, 75,372 $136.34 73,072 $131.14 2016 63,265 $122.76 2015. 2017, 2016 2015 $2.1 $1.9 $1.5 The Company uses the Black-Scho les model to calculate the estimated fair value for the employee stock purchase plan. The weighted average estimated fair value of employee stock purchase plan grants during fiscal years 2017, 2016 2015 , were $28.16, $26.87 $24.05 201 7 201 6 2015 Risk-free interest rate 0.69 % 0.22 % 0.03 % Expected life (months) 3 3 3 Expected volatility 8.6 % 10.7 % 16.3 % Dividend yield 1.25 % 1.18 % 1.15 % 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 17 - Income Taxes
Note 17 - Income Taxes | 12 Months Ended |
Aug. 31, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 17. 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 ta xes is as follows: Y ears ended August 31, (in thousands) 201 7 201 6 201 5 U.S. operations $ 218,650 $ 353,434 $ 263,411 Non-U.S. operations 125,662 107,559 70,343 Income before income taxes $ 344,312 $ 460,993 $ 333,754 U.S. operations $ 65,403 $ 106,671 $ 88,147 Non-U.S. operations 20,650 15,507 4,556 Total provision for income taxes $ 86,053 $ 122,178 $ 92,703 Effective tax rate 25.0 % 26.5 % 27.8 % The components of the provision for income taxes consis t of the following: Y ears ended August 31, (in thousands) 201 7 201 6 201 5 Current U.S. federal $ 58,057 $ 97,703 $ 82,885 U.S. state and local 5,659 4,917 4,419 Non-U.S. 17,458 15,030 6,368 Total current taxes $ 81,174 117,650 $ 93,672 Deferred U.S. federal $ 4,320 $ 3,915 $ 720 U.S. state and local (77 ) 136 123 Non-U.S. 636 477 (1,812 ) Total deferred taxes $ 4,879 $ 4,528 $ (969 ) Total provision for income taxes $ 86,053 $ 122,178 $ 92,703 The provision for income taxes differs from the amount of income tax determined by applying the U.S. statutory federal income tax rate to income befo re income taxes as a result of the following factors: Years e nded August 31, (expressed as a percentage of income before income taxes) 201 7 201 6 201 5 Tax at U.S. Federal statutory tax rate 35.0 % 35.0 % 35.0 % Increase (decrease) in taxes resulting from: State and local taxes, net of U.S. federal income tax benefit 1.8 1.5 1.6 Foreign income at other than U.S. rates (7.0 ) (1) (5.0 ) (2) (3.0 ) Domestic production activities deduction (2.1 ) (1.5 ) (2.2 ) Income tax benefits from R&D tax credits (3.3 ) (3.6 ) (2.7 ) Income tax benefits from foreign tax credits (0.3 ) (0.2 ) (0.3 ) Other, net 0.9 0.3 (0.6 ) Effective tax rate 25.0 % 26.5 % (3) 27.8 % (4) ( 1 Includes a 2 0 0 point benefit as a result of FactSet’s global realignment. Effective September 1, 2016, ( 2 Includes a portion of the gain from the sale of the Market Metrics business that was not ( 3 The fiscal 2016 26.5% $10.5 D tax credit”) in December 2015 , finalizing the fiscal 2015 tax returns and other discrete items. The reenactment of the R&D tax credit was retroactive to January 1, 2015 , and eliminates the yearly uncertainty surrounding the extension of the credit . ( 4 The fiscal 2015 effective tax rate of 27.8% income tax benefits of $8.8 D tax credit in December 2014, finalizing the fiscal 2014 tax returns and other discrete items . Deferred Tax Assets and Liabilities The significant components of deferred tax assets that are recorded within the Consolidated Balance Sheets were as follows: At August 31, (in thousands) 201 7 201 6 Current Receivable reserve $ 811 $ 531 Deferred rent 1,321 1,022 Other 536 1,605 Net current deferred tax assets $ 2,668 $ 3,158 Non-current Depreciation on property, equipment and leasehold improvements $ 2,220 $ 5,194 Deferred rent 10,294 9,626 Stock-based compensation 20,117 19,927 Purchased intangible assets, including acquired technology (32,742 ) (24,645 ) Other 7,523 3,304 Net non-current deferred tax assets $ 7,412 $ 13,406 Total deferred tax assets $ 10,080 $ 16,564 The significant components of deferred tax liabilities that are recorded within the Consolidated Balance Sheets were as follows: At August 31, (in thousands) 201 7 201 6 Current Other $ 2,382 $ 291 Net current deferred tax liabilities $ 2,382 $ 291 Non-current Stock-based compensation $ (815 ) $ — Purchased intangible assets, including acquired technology 26,231 1,666 Other (524 ) 42 Net non-current deferred tax liabilities $ 24,892 $ 1,708 Total deferred tax liabilities $ 27,274 $ 1,999 No rnings and profits of $223.6 August 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 August 31, 201 7, $11.5 $1.5 August 31, 2016, $8.8 $1.3 $0.2 August 31, 2017, 2016 2015, Unrecognized tax benefits represent tax positions taken on tax returns but not ated financial statements. When applicable, the Company adjusts the previously recorded tax expense to reflect examination results when the position is ultimately settled. The Company regularly engages in discussions and negotiations with tax authorities regarding tax matters in various jurisdictions. It is reasonably possible that certain federal, foreign, and state tax matters may 12 no not 12 The following table summarizes the changes in the balance of gross unrecognized tax benefits: (in thousands) Unrecognized income tax benefits at August 31, 2014 $ 5,501 Additions based on tax positions related to the current year 962 Additions for tax positions of prior years 1,122 Statute of limitations lapse (809 ) Unrecognized income tax benefits at August 31, 2015 $ 6,776 Additions based on tax positions related to the current year 1,779 Additions for tax positions of prior years 1,436 Statute of limitations lapse (1,209 ) Unrecognized income tax benefits at August 31, 2016 $ 8,782 Additions based on tax positions related to the current year 3,896 Additions for tax positions of prior years 628 Statute of limitations lapse (1,822 ) Unrecognized income tax benefits at August 31, 201 7 $ 11,484 In the normal course of business, the Company ’s tax filings are subject to audit by federal, state and foreign tax authorities. At August 31, 2017, Major Tax Jurisdictions Open Tax Years U.S. Federal 201 4 through 2017 State (various) 2010 through 201 7 Europe United Kingdom 201 4 through 2017 France 201 6 through 2017 Germany 2017 |
Note 18 - Debt
Note 18 - Debt | 12 Months Ended |
Aug. 31, 2017 | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | 18. FactSet ’s debt obligations consisted of the following: At August 31, (in thousands) 201 7 201 6 2017 Revolving Credit Facility (maturity date of March 17, 2020) 575,000 — 2015 Revolving Credit Facility (maturity date of September 21, 2018) $ — $ 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 Fact Set’s entrance into the 2017 $575.0 2017 $365.0 no 2017 All outstanding loan amounts are reported as Long-term debt August 31, 2017. 2017 2016, $8.4 $3.1 As of August 31, 2017, no 2017 2017, d approximately $0.4 2017 The 2017 Credit Agreement contained covenants restricting certain FactSet activities, which are usual and customary for this type of loan. In addition, the 2017 ded debt/EBITDA below a specified level as of the end of each fiscal quarter. The Company was in compliance with all of the covenants of the 2017 August 31, 2017. |
Note 19 - Commitments and Conti
Note 19 - Commitments and Contingencies | 12 Months Ended |
Aug. 31, 2017 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 19. Commitments represent obligations, such as those for future purchases of goods or services that are not Lease Commitments At August 3 1, 2017, 1,143,000 2031. Selling, General & Administrative August 31, 2017 Years ended August 31, (in thousands) Minimum Lease Payments 2018 38,056 2019 35,627 2020 27,834 2021 20,836 202 2 20,215 Thereafter 139,099 Total $ 281,667 During fiscal 201 7, 2016 2015, $48.4 $43.2 $38.6 August 31, 2017 2016, $37.4 $34.4 $33.5 $31.2 Approxima tely $1.9 August 31, 2017. August 31, 2017 2016, Purchase Commitments with Suppliers Purchase obligations represent payment s due in future periods in respect of commitments to the Company’s various data vendors as well as commitments to purchase goods and services such as telecommunication and computer maintenance services. These purchase commitments are agreements that are enforceable and legally binding on FactSet and that specify all significant terms, including: fixed or minimum quantities to be purchased; fixed, minimum or variable price provisions; and the approximate timing of the transaction. As of August 31, 2017 2016, $81.0 $67.5 Contingencies Legal Matters FactSet accrues non income-tax liabilities for contingencies when management believes that a loss is probable and the amounts can be reasonably estimated, while contingent gains are recognized only when realized. The Company is subject to legal proceedings, claims and litigation arising in the ordinary course of business, including intellectual property litigation. Based on information available at August 31, 2017, not Income Taxes Uncertain income tax positions are accounted for in accordance with applicable accounting guidance (see Note 17 ved for potential adjustments to its provision for income taxes that may not no 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 |
Note 20 - Risks and Concentrati
Note 20 - Risks and Concentrations of Credit Risk | 12 Months Ended |
Aug. 31, 2017 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | 20. Financial Risk Management Foreign Currency Exchange Risk The Company is exposed to changes in foreign currency exchange rates, which could affect its operating results, financial position and cash flows. The Company ’s primary foreign currency market exposures include the British Pound Sterling, Euro, Japanese Yen, Indian Rupee and Philippine Peso. To the extent that FactSet’s international activities recorded in local currencies increase in the future, its exposure to fluctuations in currency exchange rates will correspondingly increase. FactSet manages its exposure to foreign currency exchange risk through its regular operating and financing activities and, when appropriate, through the use of derivative financial instruments. These derivative financial instruments are utilized to hedge currency exposures as well as to reduce earnings volatility resulting from shifts in market rates. FactSet only enters into foreign currency forward contracts to manage foreign currency exposures. The fair market values of all the Company’s derivative contracts change with fluctuations in currency rates and are designed so that any changes in their values are offset by changes in the values of the underlying exposures. See Note 5, Derivative Instruments , for additional analysis of the Company’s foreign currency exchange rate risk. Interest Rate Risk Cash and Cash Equivalents - The fair market value of FactSet’s cash and investments at August 31, 2017 $227.2 three three one not not Debt - As of August 31, 2017, $575 .0 not 1.00% . During the years ended August 31, 2017 2016, $8.4 $3.1 25 one $1.4 . Current market events have not ect to its exposures to foreign currency exchange risk and interest rate risk. Concentrations of Credit Risk Cash equivalents Cash and cash equivalents are primarily maintained with two may may Accounts Receivable Accounts receivable are unsecured and are derived from revenues earned from clients located around the globe. FactSet performs ongoing cr edit evaluations of its clients and does not No 10% August 31, 2017, 2% ten not 15% August 31, 2016 . At August 31, 2017 2016, $2.7 $1.5 Derivative Instruments As a result of the use of derivative instruments, the Company is exposed to counterparty credit risk. FactSet has i ncorporated 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 Data Content Providers Certain data sets that FactSet relies on have a limited number of suppliers, although the Company makes every effort to assure that, where reasonable, alternative sources are available. However, FactSet is not one third No 10% |
Note 21 - Unaudited Quarterly F
Note 21 - Unaudited Quarterly Financial Data | 12 Months Ended |
Aug. 31, 2017 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | 21. The following table presents selected unaudited financial in formation for each of the quarterly periods in the years ended August 31, 2017 2016. not not Fiscal 201 7 (in thousands, except per share data) First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 288,063 $ 294,354 $ 312,120 $ 326,642 Cost of services $ 127,250 $ 131,635 $ 146,426 $ 161,269 Selling, general and administrative $ 70,494 $ 70,973 $ 78,052 $ 82,945 Operating income $ 90,319 $ 91,746 $ 87,642 $ 82,428 Net income $ 66,583 $ 66,710 $ 65,414 $ 59,552 Diluted earnings per common share (1) $ 1.66 $ 1.68 $ 1.66 $ 1.52 Weighted average common shares (diluted) 40,100 39,700 39,457 39,281 ( 1 Diluted earnings per common share is calculated independently for each of the periods presented. Accordingly, the sum of the quarterly EPS amounts may not fiscal year. Fiscal 201 6 (in thousands, except per share data) First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 270,504 $ 281,796 $ 287,501 $ 287,291 Cost of services $ 114,736 $ 123,911 $ 124,602 $ 124,160 Selling, general and administrative $ 68,460 $ 72,541 $ 73,609 $ 75,397 Operating income $ 87,308 $ 85,344 $ 89,290 $ 87,734 Net income $ 59,965 $ 67,763 $ 66,781 $ 144,306 Diluted earnings per common share (1) $ 1.43 $ 1.63 $ 1.62 $ 3.55 Weighted average common shares (diluted) 42,063 41,536 41,189 40,673 ( 1 Diluted earnings per common share is calculated independently for each of the periods presented. Accordingly, the sum of the quarterly EPS amounts may not fiscal year. |
Schedule II - Valuation and Qua
Schedule II - Valuation and Qualifying Accounts | 12 Months Ended |
Aug. 31, 2017 | |
Notes to Financial Statements | |
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | Schedule II – Valuation and Qualifying Accounts Years e nded August 31, 2017, 2016 2015 Receivable reserve (1) Balance at Beginning of Year Charged to Expense/ Against Revenue Write-offs, Net of Recoveries Balance at End of Year 201 7 $ 1,521 $ 3,381 $ 2,164 $ 2,738 2016 $ 1,580 $ 1,917 $ 1,976 $ 1,521 2015 $ 1,662 $ 2,268 $ 2,350 $ 1,580 ( 1 Additions to the receivable reserve for doubtful accounts are charged to bad debt expense. Additions to the receivable reserve for billing adjustments are charged against revenues. Addition al financial statement schedules have been omitted since they are either not not |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Aug. 31, 2017 | |
Accounting Policies [Abstract] | |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition The majority of the Company’s revenues are derived from subscriptions to services such as workstations (also referred to as users), content and applications. The majority of clients are invoiced monthly to reflect the actual services provided. The remaining clients are invoiced quarterly, annually or biannually in advance. Subscription revenue is earned each month as the service is rendered to clients on a monthly basis. FactSet recognizes revenue when the client subscribes to FactSet services, the service has been rendered and earned during the month, the amount of the subscription is fixed or determinable based on established rates quoted on an annualized basis and collectability is reasonably assured. A provision for billing adjustments and cancellation of services is estimated and accounted for as a reduction to revenue, with a corresponding reduction to accounts receivable. |
Accounts Receivable and Deferred Fees [Policy Text Block] | Accounts Receivable and Deferred Fees Amounts that have been earned but not on the Consolidated Balance Sheets as Accounts receivable, net of reserves. Amounts invoiced in advance of client payments that are in excess of earned subscription revenues are reflected on the Consolidated Balance Sheet as Deferred fees. As of August 31, 2017, $5.3 2018 . The Company calculate s its receivable reserve through analyzing aged client receivables, reviewing the recent history of client receivable write-offs and understanding general market and economic conditions. In accordance with this policy, a receivable reserve of $2.7 $1.5 August 31, 2017 2016, |
Cost of Sales, Policy [Policy Text Block] | Cost of Services Cost of services is comprised of compensation for Company employees within the content collection, consulting, product development, software and systems engineering groups in addition to data costs, computer maintenance and depreciation expenses, amortization of identifiable intangible assets, and client-related communication costs. |
Selling, General and Administrative Expenses, Policy [Policy Text Block] | Selling, General and Administrative Selling, general and administrative expenses include compensation for the sales and various other support and administrative departments in addition to travel and entertainment expenses, marketing costs, rent, amortization of leasehold improvements, depreciation of furniture and fixtures, office expenses, professional fees and other miscellaneous expenses. |
Research and Development Expense, Policy [Policy Text Block] | Research and Product Development Costs FactSet does not alue to clients. As such, research and product development costs relate to the salary and benefits for the Company’s product development, software engineering and technical support staff and, as such, these costs are expensed when incurred within cost of services as employee compensation. The Company expects to allocate a similar percentage of its workforce in future years in order to continue to develop new products and enhancements, respond quickly to market changes and meet the needs of its clients efficiently. FactSet incurred $215.0 2017, 2016 2015 . |
Earnings Per Share, Policy [Policy Text Block] | Earnings per Share Basic earnings per share (“ EPS”) is computed by dividing net income by the number of weighted average common shares outstanding during the period. Diluted EPS is computed by dividing net income by the number of weighted average common shares outstanding during the period increased by the dilutive effect of potential common shares outstanding during the period. The number of potential common shares outstanding has been determined in accordance with the treasury stock method to the extent they are dilutive. Common share equivalents consist of common shares issuable upon the exercise of outstanding share-based compensation awards, including employee stock options and restricted stock. Under the treasury stock method, the exercise price paid by the optionee, future stock-based compensation expense that the Company has not |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income (Loss) The Company discloses comprehensive income (loss) in accordance with applicable standards for the reporting and display of comprehensive income (loss) in a set of financial statements. Comprehensive income (loss) is defined as the change in net assets of a business enterprise during a period from transactions generated from non-owner sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners. |
Fair Value Measurement, Policy [Policy Text Block] | Fair Value Measures Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, the use of various valuation methodologies, including market, income and cost approaches is permissible. The Company considers the principal or most advantageous market in which it would transact and considers assumptions that market participants would use when pricing the asset or liability. The accounting guidance for fair value measurements establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. There are three may 1 2. no 3 August 31, 2017 2016 . |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents Cash and cash equivalents consist of demand deposits and corporate money market funds with original maturities of three |
Investment, Policy [Policy Text Block] | Investments Investments consist of certificates of deposits with original maturities greater than three one not . Investments also include mutual funds, which FactSet may twelve 2017, 2016 2015 $1.6 $1.6 $2.0 not 2017 2016. |
Property, Plant and Equipment, Policy [Policy Text Block] | Property, Equipment and Leasehold Improvements Property, equipment and leasehold improvements are stated at cost, less accumulated depreciation an d amortization. Computers and related equipment are depreciated on a straight-line basis over estimated useful lives of three seven not not The Company performs a test for impairment whenever events or changes in circumstances indicate that the carrying amount of an individual asset or asset group may not e recoverable. Should projected undiscounted future cash flows be less than the carrying amount of the asset or asset group, an impairment charge reducing the carrying amount to fair value is required. Fair value is determined based on the most appropriate valuation technique, including discounted cash flows. |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill The Company is required to test goodwill for impairment annually, or more frequently if impairment indicators occur. Goodwill is tested for impairment based on the present value of discount ed cash flows, and, if impaired, written down to fair value based on discounted cash flows. FactSet has three no fourth 2017, no |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | 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. Depending on the nature of the intangible asset, the identifiable intangible assets are amortized on either a straight-line or an accelerated basis using estimated useful lives ranging between two twenty no may not No |
Accrued Liabilities [Policy Text Block] | Accrued Liabilities Accrued liabilities include estimates relating to employee compensation, operating expenses and tax liabilities. Approximately 15% ’s employee incentive compensation programs are discretionary. At the end of each fiscal year, FactSet conducts a final review of both Company and individual performance within each department to determine the amount of discretionary employee compensation. The Company also reviews compensation throughout the year to determine how overall performance tracks against management’s expectations. Management takes these and other factors, including historical performance, into account in reviewing accrued compensation estimates quarterly and adjusting accrual rates as appropriate. The amount of the variable employee compensation recorded within accrued compensation as of August 31, 2017 2016, $39.2 million and $38.2 |
Derivatives, Policy [Policy Text Block] | Derivative Instruments FactSet conducts business outside the U.S. in several currencies includ ing the Indian Rupee, Philippine Peso, British Pound Sterling, Euro and Japanese Yen. 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 |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency Translation Certain wholly owned subsidiaries within the Europe an and Asia Pacific segments operate under a functional currency different from the U.S. dollar, such as the British Pound Sterling, Euro, Japanese Yen, Indian Rupee and Philippine Peso. The financial statements of these foreign subsidiaries are translated into U.S. dollars using period-end rates of exchange for assets and liabilities, and average rates for the period for revenues and expenses. Translation gains and losses that arise from translating assets, liabilities, revenues and expenses of foreign operations are recorded in AOCL as a component of stockholders’ equity. The accumulated foreign currency translation loss totaled $38.5 $67.3 August 31, 2017 2016, |
Income Tax, Policy [Policy Text Block] | Income and Deferred Taxes Income tax expense is based on taxable income determined in accordance with current ly enacted laws and tax rates. Deferred income taxes are recorded for the temporary differences between the financial statement and tax bases of assets and liabilities using currently enacted tax rates. FactSet recognizes the financial effect of an income tax position only if it is more likely than not 50% no 50% August 31, 2017, $11.5 $1.5 Taxes Payable . |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation Accounting guidance requires the measurement and recognition of compensation expense for all share-based payment awards made to employees and directors including stock opt ions, restricted stock and common shares acquired under employee stock purchases based on estimated fair values of the share awards that are scheduled to vest during the period. FactSet uses the straight-line attribution method for all awards with graded vesting features and service conditions only. Under this method, the amount of compensation expense that is recognized on any date is at least equal to the vested portion of the award on that date. For all stock-based awards with performance conditions, the graded vesting attribution method is used by the Company to determine the monthly stock-based compensation expense over the applicable vesting periods. As stock-based compensation expense recognized is based on awards ultimately expected to vest, it has been reduced for estimated forfeitures. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Forfeitures are estimated based primarily on historical experience. Windfall tax benefits, defined as tax deductions that exceed recorded stock-based compensation, are classified as cash inflows from financing activities. Performance-based stock options require management to make assumptions regarding the likelihood of ach ieving Company performance targets on a quarterly basis. The number of performance-based options that vest will be predicated on the Company achieving certain performance levels. A change in the financial performance levels the Company achieves could result in changes to FactSet’s current estimate of the vesting percentage and related stock-based compensation. |
Treasury Stock [Policy Text Block] | Treasury Stock The Company accounts for repurchased common stock under the cost method and includes such treasury stock as a component of its stockho lders’ equity. At the time treasury stock retirement is approved by FactSet’s Board of Directors, the Company’s accounting policy is to deduct its par value from common stock, reduce APIC by the amount recorded in APIC when the stock was originally issued and any remaining excess of cost as a deduction from retained earnings. |
Lessee, Leases [Policy Text Block] | Operating Leases The Company conducts all of its operations in leased facilities which have minimum lease obligations under non-cancelable operating leases. Certain of these leases co ntain rent escalations based on specified percentages. Most of the leases contain renewal options and require payments for taxes, insurance and maintenance. Rent expense is charged to operations as incurred except for escalating rents, which are charged to operations on a straight-line basis over the life of the lease. Lease incentives, relating to allowances provided by landlords, are amortized over the term of the lease as a reduction of rent expense. Costs associated with acquiring a subtenant, including broker commissions and tenant allowances, are amortized over the sublease term as a reduction of sublease income. |
Business Combinations Policy [Policy Text Block] | Business Combinations The Company records acquisitions using the purchase method of accounting. All of the assets acquired, liabilities assu med, contractual contingencies and contingent consideration are recognized at their fair value on the acquisition date. The application of the purchase method of accounting for business combinations requires management to make significant estimates and assumptions in the determination of the fair value of assets acquired and liabilities assumed in order to properly allocate purchase price consideration between assets that are depreciated and amortized from goodwill. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. Acquisition-related expenses and restructuring costs are recognized separately from the business combination and are expensed as incurred. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentrations of Risk Cash and cash equivalents are maintained with several financial institutions. Deposits held with banks may may inancial institutions with reputable credit and therefore bear minimal credit risk. The Company seeks to mitigate its credit risks by spreading such risks across multiple counterparties and monitoring the risk profiles of these counterparties. |
New Accounting Pronouncements, Policy [Policy Text Block] | New Accounting Standards or Updates Recently Adopted As of the beginning of fiscal 2017, (“FASB”) that were in effect. There were no three Revenue Recognition In May 2014 July 2015, recognizing revenue arising from contracts with clients and supersede most current revenue recognition guidance, including industry-specific guidance. The core principle of the revenue model is that an entity recognizes revenue to depict the transfer of promised goods or services to clients in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. These accounting standard updates will be effective for FactSet beginning in the first 2019, 2018 Balance Sheet Classification of Deferred Taxes In November 2015, will require an entity to present all deferred tax assets and deferred tax liabilities as non-current on the balance sheet. Under the current guidance, entities are required to separately present deferred taxes as current or non-current. Netting deferred tax assets and deferred tax liabilities by tax jurisdiction will still be required under the new guidance. This guidance is effective for FactSet beginning in the first 2018. not Recognition and Measurement of Financial Assets and Financial Liabilities In January 2016, e FASB issued an accounting standard update to amend its current guidance on the classification and measurement of certain financial instruments. The accounting standard update significantly revises an entity’s accounting related to the presentation of certain fair value changes for financial liabilities measured at fair value. This guidance also amends certain disclosure requirements associated with the fair value of financial instruments. This guidance will be effective for FactSet beginning in the first 2019. Leases In February 2016, The guidance introduces a lessee model that requires most leases to be reported on the balance sheet. The accounting standard update aligns many of the underlying principles of the new lessor model with those in the FASB’s new revenue recognition standard. The guidance also eliminates the requirement in current U.S. GAAP for an entity to use bright-line tests in determining lease classification. This accounting standard update will be effective for FactSet beginning in the first 2020, 2019 Share-Based Payments In March 2016, implifies several aspects of the accounting for employee share-based payment transactions, including the accounting for income taxes, forfeitures and statutory tax withholding requirements, as well as classification in the statement of cash flow. This accounting standard update will be effective for FactSet beginning in the first 2018. 2018 In May 2017, not first 2019, . Cash Flow Simplification In August 2016, accounting standard update which simplifies how certain transactions are classified in the statement of cash flows. This includes revised guidance on the cash flow classification of debt prepayments and debt extinguishment costs, contingent consideration payments made after a business combination and distributions received from equity method investments. The guidance is intended to reduce diversity in practice across all industries. This accounting standard update will be effective for FactSet beginning in the first 2019. Income Taxes on Intra-Entity Transfers of Assets In October 2016, ng standard update which removes the prohibition against the immediate recognition of the current and deferred income tax effects of intra-entity transfers of assets other than inventory. The guidance is intended to reduce diversity in practice related to the tax consequences of certain types of intra-entity asset transfers, particularly those involving intellectual property. This accounting standard update will be effective for FactSet beginning in the first 2019. Goodwill Impairment Test In January 2017, air value of goodwill with its carrying amount as part of step 2 not first 2021, January 1, 2017 not . Hedge Accounting Simplification In August 2017, update to reduce the complexity of and simplify the application of hedging accounting. The guidance refines and expands hedge accounting for both financial and nonfinancial risk components, eliminates the need to separately measure and report hedge ineffectiveness, and aligns the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. This guidance will be effective for FactSet beginning in the first 2020, No cements issued or effective as of August 31, 2017 , have had or are expected to have an impact on the Company’s consolidated financial statements. |
Note 4 - Fair Value Measures (T
Note 4 - Fair Value Measures (Tables) | 12 Months Ended |
Aug. 31, 2017 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at August 31, 2017 (in thousands) Level 1 Level 2 Level 3 Total Assets Corporate money market funds (1) $ 26,677 $ — $ — $ 26,677 Mutual Funds (2) — 18,364 — 18,364 Certificates of deposit (3 ) — 14,080 — 14,080 Derivative instruments (4 ) — 6,142 — 6,142 Total assets measured at fair value $ 26,677 $ 38,586 $ — $ 65,263 Liabilities Derivative instruments ( 4 ) $ — $ — $ — $ — Total liabilities measured at fair value $ — $ — $ — $ — Fair Value Measurements at August 31, 201 6 (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 Instrumen33
Note 5 - Derivative Instruments (Tables) | 12 Months Ended |
Aug. 31, 2017 | |
Notes Tables | |
Schedule of Foreign Exchange Contracts, Statement of Financial Position [Table Text Block] | Gross Notional Value Fair Value (Liability) Asset Currency Hedged ( in thousands, in U.S. dollars) Aug ust 31, 2017 Aug ust 31, 2016 Aug ust 31, 2017 Aug ust 31, 2016 British Pound Sterling $ — $ 33,280 $ — $ (2,791 ) Indian Rupee 51,000 58,410 6,142 869 Total $ 51,000 $ 91,690 $ 6,142 $ (1,922 ) |
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block] | Designation of Derivatives (in thousands) Balance Sheet Location Aug ust 31, 2017 Aug ust 31, 2016 Derivatives designated as hedging instruments Assets: Foreign Currency Forward Contracts Prepaid expenses and other current assets $ 3,796 $ 163 Other assets $ 2,346 $ 706 Liabilities: Foreign Currency Forward Contracts Accounts payable and accrued expenses $ — $ 2,791 Deferred rent and other non-current liabilities $ — $ — |
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block] | (in thousands): Gain (Loss) Recognized in AOCL on Derivatives Location of Loss Loss Reclassified from AOCL into Income (Effective Portion) Derivatives in Cash Flow Hedging Relationships 2017 201 6 201 5 AOCL into Income 201 7 201 6 201 5 Foreign currency forward contracts $ 5,183 $ (1,806 ) $ (1,939 ) SG&A $ (2,883 ) $ (451 ) $ (559 ) |
Note 6 - Other Comprehensive 34
Note 6 - Other Comprehensive (Loss) Income and Accumulated Other Comprehensive Loss (Tables) | 12 Months Ended |
Aug. 31, 2017 | |
Notes Tables | |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Aug ust 31, 201 7 August 31, 201 6 August 31, 2015 (in thousands) Pre-tax Net of tax Pre-tax Net of tax Pre-tax Net of tax Foreign currency translation adjustments $ 28,816 $ 28,816 $ (23,644 ) $ (23,644 ) $ (25,263 ) $ (25,263 ) Realized loss on cash flow hedges reclassified to earnings (1) 2,883 1,813 451 284 559 352 Unrealized gain (loss) on cash flow hedges recognized in AOCL 5,183 3,204 (1,806 ) (1,141 ) (1,939 ) (1,220 ) Other comprehensive (loss) income $ 36,882 $ 33,833 $ (24,999 ) $ (24,501 ) $ (26,643 ) $ (26,131 ) |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | (in thousands) Aug ust 31, 201 7 August 31, 201 6 Accumulated unrealized losses on cash flow hedges, net of tax $ 3,802 $ (1,215 ) Accumulated foreign currency translation adjustments (38,522 ) (67,338 ) Total accumulated other comprehensive loss $ (34,720 ) $ (68,553 ) |
Note 7 - Segment Information (T
Note 7 - Segment Information (Tables) | 12 Months Ended |
Aug. 31, 2017 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | (in thousands) Year Ended August 31, 201 7 U.S. Europe Asia Pacific Total Revenues from clients $ 784,146 $ 330,332 $ 106,701 $ 1,221,179 Segment operating profit 137,104 153,676 61,355 352,135 Total assets 703,941 609,368 100,006 1,413,315 Depreciation and amortization 35,244 9,837 3,213 48,294 Stock-based compensation 30,247 3,320 616 34,183 Capital expenditures 29,561 2,385 4,916 36,862 Year Ended August 31, 201 6 U.S. Europe Asia Pacific Total Revenues from clients $ 755,492 $ 277,682 $ 93,918 $ 1,127,092 Segment operating profit 165,251 131,410 53,015 349,676 Total assets 654,796 279,864 84,501 1,019,161 Depreciation and amortization 31,529 4,220 2,303 38,052 Stock-based compensation 25,776 3,459 558 29,793 Capital expenditures 38,631 4,092 5,017 47,740 Year Ended August 31, 201 5 U.S. Europe Asia Pacific Total Revenues from clients $ 678,774 $ 251,522 $ 76,472 $ 1,006,768 Segment operating profit 172,980 116,310 42,628 331,918 Total assets 427,990 239,689 68,992 736,671 Depreciation and amortization 23,645 5,135 2,569 31,349 Stock-based compensation 23,006 2,991 374 26,371 Capital expenditures 22,459 460 2,763 25,682 |
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block] | Years e nded August 31, (in thousands) 201 7 201 6 201 5 Revenues (1) United States $ 784,146 $ 755,492 $ 678,774 United Kingdom 163,732 154,902 144,769 All other European countries 166,600 122,780 106,753 Asia Pacific 106,701 93,918 76,472 Total revenues $ 1,221,179 $ 1,127,092 $ 1,006,768 |
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block] | At August 31, (in thousands) 201 7 201 6 201 5 Long-lived Assets ( 1 ) United States $ 79,299 $ 70,646 $ 49,923 United Kingdom 6,012 5,772 3,655 All other European countries 6,306 1,018 1,322 Asia Pacific 8,837 7,186 4,364 Total long-lived assets $ 100,454 $ 84,622 $ 59,264 |
Note 8 - Business Combinations
Note 8 - Business Combinations (Tables) | 12 Months Ended |
Aug. 31, 2017 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | (i n thousands) Tangible assets acquired $ 27,583 Amortizable intangible assets Software technology 18,261 Client relationships 37,597 Trade name 741 Goodwill 173,898 Total assets acquired $ 258,080 Liabilities assumed (40,443 ) Net assets acquired $ 217,637 (i n thousands) Tangible assets acquired $ 7,916 Amortizable intangible assets Software technology 10,916 Client relationships 5,954 Non-compete agreements 806 Trade name 571 Goodwill 51,157 Total assets acquired $ 77,320 Liabilities assumed (9,434 ) Net assets acquired $ 67,886 (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) | 12 Months Ended |
Aug. 31, 2017 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | (in thousands) U.S. Europe Asia Pacific Total Balance at August 31, 2015 $ 211,869 $ 93,725 $ 2,693 $ 308,287 Acquisitions and other adjustments 187,352 — — 187,352 Disposition (31,741 ) (665 ) — (32,406 ) Foreign currency translations — (10,780 ) 462 (10,318 ) Balance at August 31, 2016 $ 367,480 $ 82,280 $ 3,155 $ 452,915 Acquisitions and other adjustments 19,355 216,047 — 235,402 Foreign currency translations — 19,432 (189 ) 19,243 Balance at August 31, 201 7 $ 386,835 $ 317,759 $ 2,966 $ 707,560 |
Note 11 - Intangible Assets (Ta
Note 11 - Intangible Assets (Tables) | 12 Months Ended |
Aug. 31, 2017 | |
Notes Tables | |
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block] | Acquired Intangible Assets Allocation (in thousands) Amortization Period (years) Acquisition Cost Client relationships 16.1 $ 50,152 Software technology 6.3 40,826 Non-compete agreements 3.1 862 Trade name 4.0 1,354 Total 11.5 $ 93,194 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | At August 31, 201 7 (in thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Data content $ 34,116 $ 18,899 $ 15,217 Client relationships 99,779 22,339 77,440 Software technology 105,963 30,889 75,074 Non-compete agreements 4,833 1,518 3,315 Trade names 4,080 1,583 2,497 Total $ 248,771 $ 75,228 $ 173,543 At August 31, 20 16 (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 201 8 $ 24,475 201 9 23,634 20 20 22,978 202 1 21,404 202 2 19,081 Thereafter 61,971 Total $ 173,543 |
Note 12 - Property, Equipment39
Note 12 - Property, Equipment and Leasehold Improvements (Tables) | 12 Months Ended |
Aug. 31, 2017 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | August 31, (in thousands) 201 7 201 6 Leasehold improvements $ 113,760 $ 103,238 Computers and related equipment 138,195 110,661 Furniture and fixtures 42,532 39,375 Subtotal $ 294,487 $ 253,274 Less accumulated depreciation and amortization (194,033 ) (168,652 ) Property, equipment and leasehold improvements, net $ 100,454 $ 84,622 |
Note 13 - Common Stock and Ea40
Note 13 - Common Stock and Earnings Per Share (Tables) | 12 Months Ended |
Aug. 31, 2017 | |
Notes Tables | |
Schedule of Stock by Class [Table Text Block] | Years ended August 31, (in thousands) 201 7 201 6 201 5 Balance, beginning of year (September 1) 40,038 41,317 41,793 Common stock issued for employee stock plans 693 823 1,213 Repurchase of common stock from employees (1) (50 ) (28 ) (23 ) Repurchase of common stock under the share repurchase program (1,555 ) (1,478 ) (1,666 ) Repurchase of common stock under accelerated share repurchase agreement (103 ) (596 ) — Balance, end of year (August 31) 39,023 40,038 41,317 |
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 Fo r the year ended August 31, 2017 Basic EPS Income available to common stockholders $ 258,259 39,444 $ 6.55 Diluted EPS Dilutive effect of stock options and restricted stock 198 Income available to common stockholders plus assumed conversions $ 258,259 39,642 $ 6.51 For the year ended August 31, 201 6 Basic EPS Income available to common stockholders $ 338,815 40,880 $ 8.29 Diluted EPS Dilutive effect of stock options and restricted stock 485 Income available to common stockholders plus assumed conversions $ 338,815 41,365 $ 8.19 For the year ended August 31, 201 5 Basic EPS Income available to common stockholders $ 241,051 41,572 $ 5.80 Diluted EPS Dilutive effect of stock options and restricted stock 663 Income available to common stockholders plus assumed conversions $ 241,051 42,235 $ 5.71 |
Note 14 - Stockholders' Equity
Note 14 - Stockholders' Equity (Tables) | 12 Months Ended |
Aug. 31, 2017 | |
Notes Tables | |
Dividends Declared [Table Text Block] | Declaration Date Dividends Per Share of Type Record Date Total $ Amount (in thousands) Payment Date August 10, 2017 $ 0.56 Regular (cash) August 31, 201 7 $ 21,853 September 19, 2017 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) February 29, 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 May 12, 2015 $ 0.44 Regular (cash) May 29, 2015 $ 18,274 June 16, 2015 February 11, 2015 $ 0.39 Regular (cash) February 27, 2015 $ 16,236 March 17, 2015 November 12, 2014 $ 0.39 Regular (cash) November 28, 2014 $ 16,216 December 16, 2014 |
Note 15 - Stock Option and Re42
Note 15 - Stock Option and Retirement Plans (Tables) | 12 Months Ended |
Aug. 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, 2014 3,482 $ 79.67 Granted – non performance-based 677 $ 140.49 Granted – performance-based 138 $ 148.52 Granted – non-employee Directors grant 14 $ 138.48 Exercised (1,060 ) $ 63.03 Forfeited (134 ) $ 106.01 Balance at August 31, 2015 3,117 $ 100.71 Granted – non performance-based 622 $ 171.18 Granted – performance-based 551 $ 165.59 Granted – non-employee Directors grant 23 $ 146.82 Exercised (681 ) $ 71.52 Forfeited (268 ) $ 113.70 Balance at August 31, 2016 3,364 $ 129.54 Granted – non performance-based 713 $ 152.89 Granted – performance-based 291 $ 166.29 Granted – non-employee Directors grant 24 $ 170.24 Exercised (487 ) $ 86.17 Forfeited (539 ) $ 160.31 Balance at August 31, 201 7 3,366 $ 139.29 |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | Outstanding Exercisable Range of Exercise Prices Per Share Number Outstanding Weighted Average Remaining Years of Contractual Life Weighted Average Exercise Price Per Share Aggregate Intrinsic Value Number Exercisable Weighted Average Exercise Price Per Share Aggregate Intrinsic Value $87.26 - $92.22 627 4.7 $ 91.59 $ 41,122 536 $ 91.61 $ 35,146 $94.84 - $110.31 306 4.9 $ 99.02 $ 17,797 240 $ 97.41 $ 14,345 $131.31 - $148.52 540 7.1 $ 135.46 $ 11,730 4 $ 138.48 $ 75 $150.81 - $152.28 729 9.1 $ 152.25 $ 3,595 20 $ 152.05 $ 102 $159.14 - $170.24 692 8.7 $ 165.23 $ — 27 $ 164.90 $ — $171.22 - $175.20 472 8.1 $ 173.39 $ — 91 $ 175.20 $ — Total Fiscal 201 7 3,366 7.4 $ 139.29 $ 74,244 918 $ 105.14 $ 49,668 |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Prior Year Amounts August 31, 2016 August 31, 2015 Number of Shares Weighted Average Exercise Price Per Share Number of Shares Weighted Average Exercise Price Per Share Outstanding at fiscal year end 3,364 $ 129.54 3,117 $ 100.71 Exercisable at fiscal year end 970 $ 89.42 1,352 $ 78.70 |
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% $ (769 ) $ — 10% $ (577 ) $ 108 40% (current expectation) $ — $ 431 70% $ 577 $ 755 100% $ 1,153 $ 1,078 Vesting Percentage (in thousands) Cumulative Catch-up Adjustment* Remaining Expense to be Recognized 0% (current expectation) $ — $ — 100% $ 338 $ 2,367 Vesting Percentage (in thousands) Cumulative Catch-up Adjustment* Remaining Expense to be Recognized 0% (current expectation) $ — $ — 80% $ 237 $ 6,870 90% $ 267 $ 7,729 100% $ 296 $ 8,588 |
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, 2014 368 $ 89.77 Granted (restricted stock and stock units) 55 $ 138.23 Vested ( 1 ) (95 ) $ 70.94 Canceled/forfeited (15 ) $ 101.04 Balance at August 31, 2015 313 $ 103.34 Granted (restricted stock and stock units) 97 $ 159.64 Vested ( 2 ) (69 ) $ 85.04 Canceled/forfeited (79 ) $ 112.51 Balance at August 31, 2016 262 $ 126.27 Granted (restricted stock and stock units) 62 $ 158.26 Vested (3) (132 ) $ 123.28 Canceled/forfeited (10 ) $ 130.32 Balance at August 31, 201 7 182 $ 138.62 |
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 Stock Option Plan Share-based Awards Available for Grant under the Non-Employee Stock Option Plan Balance at August 31, 2014 3,222 102 Granted – non performance-based options (677 ) — Granted – performance-based options (138 ) — Granted – non-employee Directors grant — (14 ) Restricted stock awards granted (1) (137 ) — Share-based awards canceled/forfeited (2) 171 — Balance at August 31, 2015 2,441 88 Granted – non performance-based options (622 ) — Granted – performance-based options (551 ) — Granted – non-employee Directors grant — (22 ) Restricted stock awards granted (1) (243 ) — Share-based awards canceled/forfeited (2) 466 — Balance at August 31, 2016 1,491 66 Granted – non performance-based options (713 ) — Granted – performance-based options (291 ) — Granted – non-employee Directors grant — (24 ) Restricted stock awards granted (1) (156 ) — Share-based awards canceled/forfeited (2) 566 — Balance at August 31, 201 7 897 42 |
Note 16 - Stock-based Compens43
Note 16 - Stock-based Compensation (Tables) | 12 Months Ended |
Aug. 31, 2017 | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 201 7 201 6 201 5 Term structure of risk-free interest rate 0.07% - 2.09% 0.07% - 2.1% 0.01% - 2.3% Expected life (years) 7.4 - 8.1 7.3 - 8.1 5.8 - 9.4 Term structure of volatility 21% - 30% 21% - 30% 20% - 31% Dividend yield 1.18% 1.09% 1.32% Weighted average estimated fair value $40.68 $46.08 $41.87 Weighted average exercise price $156.77 $168.55 $141.84 Fair value as a percentage of exercise price 25.9% 27.3% 29.5% |
The 2008 Employee Stock Purchase Plan [Member] | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 201 7 201 6 2015 Risk-free interest rate 0.69 % 0.22 % 0.03 % Expected life (months) 3 3 3 Expected volatility 8.6 % 10.7 % 16.3 % Dividend yield 1.25 % 1.18 % 1.15 % |
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 % Risk-free interest rate 1.45 % Expected life (years) 5.4 Expected volatility 23 % Dividend yield 1.30 % |
Note 17 - Income Taxes (Tables)
Note 17 - Income Taxes (Tables) | 12 Months Ended |
Aug. 31, 2017 | |
Notes Tables | |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Y ears ended August 31, (in thousands) 201 7 201 6 201 5 U.S. operations $ 218,650 $ 353,434 $ 263,411 Non-U.S. operations 125,662 107,559 70,343 Income before income taxes $ 344,312 $ 460,993 $ 333,754 U.S. operations $ 65,403 $ 106,671 $ 88,147 Non-U.S. operations 20,650 15,507 4,556 Total provision for income taxes $ 86,053 $ 122,178 $ 92,703 Effective tax rate 25.0 % 26.5 % 27.8 % |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Y ears ended August 31, (in thousands) 201 7 201 6 201 5 Current U.S. federal $ 58,057 $ 97,703 $ 82,885 U.S. state and local 5,659 4,917 4,419 Non-U.S. 17,458 15,030 6,368 Total current taxes $ 81,174 117,650 $ 93,672 Deferred U.S. federal $ 4,320 $ 3,915 $ 720 U.S. state and local (77 ) 136 123 Non-U.S. 636 477 (1,812 ) Total deferred taxes $ 4,879 $ 4,528 $ (969 ) Total provision for income taxes $ 86,053 $ 122,178 $ 92,703 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Years e nded August 31, (expressed as a percentage of income before income taxes) 201 7 201 6 201 5 Tax at U.S. Federal statutory tax rate 35.0 % 35.0 % 35.0 % Increase (decrease) in taxes resulting from: State and local taxes, net of U.S. federal income tax benefit 1.8 1.5 1.6 Foreign income at other than U.S. rates (7.0 ) (1) (5.0 ) (2) (3.0 ) Domestic production activities deduction (2.1 ) (1.5 ) (2.2 ) Income tax benefits from R&D tax credits (3.3 ) (3.6 ) (2.7 ) Income tax benefits from foreign tax credits (0.3 ) (0.2 ) (0.3 ) Other, net 0.9 0.3 (0.6 ) Effective tax rate 25.0 % 26.5 % (3) 27.8 % (4) |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | At August 31, (in thousands) 201 7 201 6 Current Receivable reserve $ 811 $ 531 Deferred rent 1,321 1,022 Other 536 1,605 Net current deferred tax assets $ 2,668 $ 3,158 Non-current Depreciation on property, equipment and leasehold improvements $ 2,220 $ 5,194 Deferred rent 10,294 9,626 Stock-based compensation 20,117 19,927 Purchased intangible assets, including acquired technology (32,742 ) (24,645 ) Other 7,523 3,304 Net non-current deferred tax assets $ 7,412 $ 13,406 Total deferred tax assets $ 10,080 $ 16,564 At August 31, (in thousands) 201 7 201 6 Current Other $ 2,382 $ 291 Net current deferred tax liabilities $ 2,382 $ 291 Non-current Stock-based compensation $ (815 ) $ — Purchased intangible assets, including acquired technology 26,231 1,666 Other (524 ) 42 Net non-current deferred tax liabilities $ 24,892 $ 1,708 Total deferred tax liabilities $ 27,274 $ 1,999 |
Summary of Income Tax Contingencies [Table Text Block] | (in thousands) Unrecognized income tax benefits at August 31, 2014 $ 5,501 Additions based on tax positions related to the current year 962 Additions for tax positions of prior years 1,122 Statute of limitations lapse (809 ) Unrecognized income tax benefits at August 31, 2015 $ 6,776 Additions based on tax positions related to the current year 1,779 Additions for tax positions of prior years 1,436 Statute of limitations lapse (1,209 ) Unrecognized income tax benefits at August 31, 2016 $ 8,782 Additions based on tax positions related to the current year 3,896 Additions for tax positions of prior years 628 Statute of limitations lapse (1,822 ) Unrecognized income tax benefits at August 31, 201 7 $ 11,484 |
Summary of Income Tax Examinations [Table Text Block] | Major Tax Jurisdictions Open Tax Years U.S. Federal 201 4 through 2017 State (various) 2010 through 201 7 Europe United Kingdom 201 4 through 2017 France 201 6 through 2017 Germany 2017 |
Note 18 - Debt (Tables)
Note 18 - Debt (Tables) | 12 Months Ended |
Aug. 31, 2017 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | At August 31, (in thousands) 201 7 201 6 2017 Revolving Credit Facility (maturity date of March 17, 2020) 575,000 — 2015 Revolving Credit Facility (maturity date of September 21, 2018) $ — $ 300,000 Total Outstanding Debt $ 575,000 $ 300,000 |
Note 19 - Commitments and Con46
Note 19 - Commitments and Contingencies (Tables) | 12 Months Ended |
Aug. 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 2018 38,056 2019 35,627 2020 27,834 2021 20,836 202 2 20,215 Thereafter 139,099 Total $ 281,667 |
Note 21 - Unaudited Quarterly47
Note 21 - Unaudited Quarterly Financial Data (Tables) | 12 Months Ended |
Aug. 31, 2017 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | Fiscal 201 7 (in thousands, except per share data) First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 288,063 $ 294,354 $ 312,120 $ 326,642 Cost of services $ 127,250 $ 131,635 $ 146,426 $ 161,269 Selling, general and administrative $ 70,494 $ 70,973 $ 78,052 $ 82,945 Operating income $ 90,319 $ 91,746 $ 87,642 $ 82,428 Net income $ 66,583 $ 66,710 $ 65,414 $ 59,552 Diluted earnings per common share (1) $ 1.66 $ 1.68 $ 1.66 $ 1.52 Weighted average common shares (diluted) 40,100 39,700 39,457 39,281 Fiscal 201 6 (in thousands, except per share data) First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 270,504 $ 281,796 $ 287,501 $ 287,291 Cost of services $ 114,736 $ 123,911 $ 124,602 $ 124,160 Selling, general and administrative $ 68,460 $ 72,541 $ 73,609 $ 75,397 Operating income $ 87,308 $ 85,344 $ 89,290 $ 87,734 Net income $ 59,965 $ 67,763 $ 66,781 $ 144,306 Diluted earnings per common share (1) $ 1.43 $ 1.63 $ 1.62 $ 3.55 Weighted average common shares (diluted) 42,063 41,536 41,189 40,673 |
Schedule II - Valuation and Q48
Schedule II - Valuation and Qualifying Accounts (Tables) | 12 Months Ended |
Aug. 31, 2017 | |
Notes Tables | |
Valuation and Qualifying Accounts Disclosure [Table Text Block] | Receivable reserve (1) Balance at Beginning of Year Charged to Expense/ Against Revenue Write-offs, Net of Recoveries Balance at End of Year 201 7 $ 1,521 $ 3,381 $ 2,164 $ 2,738 2016 $ 1,580 $ 1,917 $ 1,976 $ 1,521 2015 $ 1,662 $ 2,268 $ 2,350 $ 1,580 |
Note 3 - Summary of Significa49
Note 3 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | 12 Months Ended | |||
Aug. 31, 2017 | Aug. 31, 2016 | Aug. 31, 2015 | Aug. 31, 2014 | |
Unbilled Receivables, Not Billable | $ 5,300,000 | |||
Allowance for Doubtful Accounts Receivable | 2,700,000 | $ 1,500,000 | ||
Research and Development Expense | 215,000,000 | |||
Interest Income and Fees, Bankers Acceptances, Certificates of Deposit and Commercial Paper | $ 1,600,000 | 1,600,000 | $ 2,000,000 | |
Number of Reporting Units | 3 | |||
Goodwill, Impairment Loss | $ 0 | |||
Impairment of Intangible Assets (Excluding Goodwill) | $ 0 | 0 | 0 | |
Employee Compensation, Percentage of Discretionary Incentives | 15.00% | |||
Accrued Bonuses | $ 39,200,000 | 38,200,000 | ||
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | (38,522,000) | (67,338,000) | ||
Unrecognized Tax Benefits | 11,484,000 | 8,782,000 | $ 6,776,000 | $ 5,501,000 |
Unrecognized Tax Benefits, Interest on Income Taxes Accrued | $ 1,500,000 | $ 1,300,000 | ||
Minimum [Member] | ||||
Finite-Lived Intangible Asset, Useful Life | 2 years | |||
Maximum [Member] | ||||
Finite-Lived Intangible Asset, Useful Life | 20 years | |||
Computer Equipment [Member] | ||||
Property, Plant and Equipment, Useful Life | 3 years | |||
Furniture and Fixtures [Member] | ||||
Property, Plant and Equipment, Useful Life | 7 years |
Note 4 - Fair Value Measures (D
Note 4 - Fair Value Measures (Details Textual) - USD ($) $ in Millions | Aug. 31, 2017 | Aug. 31, 2016 |
Long-term Debt, Fair Value | $ 575 | |
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 | Aug. 31, 2017 | Aug. 31, 2016 | |
Derivative instruments | [1] | $ 6,142 | $ 869 |
Total assets measured at fair value | 65,263 | 117,851 | |
Derivative instruments | [1] | 2,791 | |
Total liabilities measured at fair value | 2,791 | ||
Money Market Funds [Member] | |||
Corporate money market funds | [2] | 26,677 | 92,765 |
Mutual Funds [Member] | |||
Mutual funds | [3] | 18,364 | |
Certificates of Deposit [Member] | |||
Certificates of deposit | [4] | 14,080 | 24,217 |
Fair Value, Inputs, Level 1 [Member] | |||
Derivative instruments | [1] | ||
Total assets measured at fair value | 26,677 | 92,765 | |
Derivative instruments | [1] | ||
Total liabilities measured at fair value | |||
Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member] | |||
Corporate money market funds | [2] | 26,677 | 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] | |||
Derivative instruments | [1] | 6,142 | 869 |
Total assets measured at fair value | 38,586 | 25,086 | |
Derivative instruments | [1] | 2,791 | |
Total liabilities measured at fair value | 2,791 | ||
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] | 18,364 | |
Fair Value, Inputs, Level 2 [Member] | Certificates of Deposit [Member] | |||
Certificates of deposit | [4] | 14,080 | 24,217 |
Fair Value, Inputs, Level 3 [Member] | |||
Derivative instruments | [1] | ||
Total assets measured at fair value | |||
Derivative instruments | [1] | ||
Total liabilities measured at fair value | |||
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 exchange forward contracts). The income approach uses pricing models that rely on market observable inputs such as spot, forward and interest rates, as well as credit default swap spreads and therefore are classified as Level 2. | ||
[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 within 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) within the Consolidated Balance Sheets. |
Note 5 - Derivative Instrumen52
Note 5 - Derivative Instruments (Details Textual) ₨ in Billions | 12 Months Ended | ||
Aug. 31, 2017USD ($) | Aug. 31, 2016USD ($) | Aug. 31, 2017INR (₨) | |
Gain (Loss) on Discontinuation of Foreign Currency Cash Flow Hedge Due to Forecasted Transaction Probable of Not Occurring, Net | $ 0 | $ 0 | |
Foreign Exchange Contract [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | |||
Derivative Asset, Notional Amount | 51,000,000 | 91,690,000 | ₨ 3.8 |
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimated Net Amount to be Transferred | $ 3,800,000 | ||
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 | $ 51,000,000 | $ 58,410,000 |
Note 5 - Derivative Instrumen53
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 Billions | Aug. 31, 2017USD ($) | Aug. 31, 2017INR (₨) | Aug. 31, 2016USD ($) |
Gross Notional Value | $ 51,000 | ₨ 3.8 | $ 91,690 |
Fair Value Asset (Liability) | 6,142 | (1,922) | |
United Kingdom, Pounds | |||
Gross Notional Value | 33,280 | ||
Fair Value Asset (Liability) | (2,791) | ||
India, Rupees | |||
Gross Notional Value | 51,000 | 58,410 | |
Fair Value Asset (Liability) | $ 6,142 | $ 869 |
Note 5 - Derivative Instrumen54
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 | Aug. 31, 2017 | Aug. 31, 2016 |
Prepaid Expenses and Other Current Assets [Member] | ||
Derivative assets | $ 3,796 | $ 163 |
Other Assets [Member] | ||
Derivative assets | 2,346 | 706 |
Accounts Payable and Accrued Liabilities [Member] | ||
Derivative liabilities | 2,791 | |
Deferred Rent and Other Noncurrent Liabilities [Member] | ||
Derivative liabilities |
Note 5 - Derivative Instrumen55
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 | 12 Months Ended | ||
Aug. 31, 2017 | Aug. 31, 2016 | Aug. 31, 2015 | |
Foreign currency forward contracts | $ 5,183 | $ (1,806) | $ (1,939) |
Foreign currency forward contracts | $ (2,883) | $ (451) | $ (559) |
Note 6 - Other Comprehensive 56
Note 6 - Other Comprehensive (Loss) Income and Accumulated Other Comprehensive Loss - Components of Other Comprehensive (Loss) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Aug. 31, 2017 | Aug. 31, 2016 | Aug. 31, 2015 | ||
Foreign currency translation adjustments, pre-tax | $ 28,816 | $ (23,644) | $ (25,263) | |
Foreign currency translation adjustments | 28,816 | (23,644) | (25,263) | |
Realized loss (gain) on cash flow hedges reclassified to earnings, pre-tax | [1] | 2,883 | 451 | 559 |
Realized loss (gain) on cash flow hedges reclassified to earnings | [1] | 1,813 | 284 | 352 |
Unrealized gain (loss) on cash flow hedges recognized in AOCL, pre-tax | 5,183 | (1,806) | (1,939) | |
Unrealized gain (loss) on cash flow hedges recognized in AOCL | 3,204 | (1,141) | (1,220) | |
Other comprehensive income (loss), pre-tax | 36,882 | (24,999) | (26,643) | |
Other comprehensive income (loss) | $ 33,833 | $ (24,501) | $ (26,131) | |
[1] | Reclassified to Selling, General and Administrative Expenses |
Note 6 - Other Comprehensive 57
Note 6 - Other Comprehensive (Loss) Income and Accumulated Other Comprehensive Loss - Components of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands | Aug. 31, 2017 | Aug. 31, 2016 |
Accumulated unrealized losses on cash flow hedges, net of tax | $ 3,802 | $ (1,215) |
Accumulated foreign currency translation adjustments | (38,522) | (67,338) |
Total accumulated other comprehensive loss | $ (34,720) | $ (68,553) |
Note 7 - Segment Information (D
Note 7 - Segment Information (Details Textual) - USD ($) $ in Thousands | Aug. 31, 2017 | Aug. 31, 2016 | Aug. 31, 2015 |
Goodwill | $ 707,560 | $ 452,915 | $ 308,287 |
UNITED STATES | |||
Goodwill | $ 386,835 | 367,480 | 211,869 |
Goodwill Percentage Per Segment | 54.00% | ||
Europe [Member] | |||
Goodwill | $ 317,759 | 82,280 | 93,725 |
Goodwill Percentage Per Segment | 45.00% | ||
Asia Pacific [Member] | |||
Goodwill | $ 2,966 | $ 3,155 | $ 2,693 |
Goodwill Percentage Per Segment | 1.00% |
Note 7 - Segment Information -
Note 7 - Segment Information - Results of Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Aug. 31, 2017 | May 31, 2017 | Feb. 28, 2017 | Nov. 30, 2016 | Aug. 31, 2016 | May 31, 2016 | Feb. 28, 2016 | Nov. 30, 2015 | Aug. 31, 2017 | Aug. 31, 2016 | Aug. 31, 2015 | |||||
Revenues from clients | $ 326,642 | $ 312,120 | $ 294,354 | $ 288,063 | $ 287,291 | $ 287,501 | $ 281,796 | $ 270,504 | $ 1,221,179 | [1] | $ 1,127,092 | [1] | $ 1,006,768 | [1] | |
Segment operating profit | 82,428 | $ 87,642 | $ 91,746 | $ 90,319 | 87,734 | $ 89,290 | $ 85,344 | $ 87,308 | 352,135 | 349,676 | 331,918 | ||||
Total assets | 1,413,315 | 1,019,161 | 1,413,315 | 1,019,161 | 736,671 | ||||||||||
Depreciation and amortization | 48,294 | 38,052 | 31,349 | ||||||||||||
Stock-based compensation | 34,183 | 29,793 | 26,371 | ||||||||||||
Capital expenditures | 36,862 | 47,740 | 25,682 | ||||||||||||
UNITED STATES | |||||||||||||||
Revenues from clients | [1] | 784,146 | 755,492 | 678,774 | |||||||||||
Segment operating profit | 137,104 | 165,251 | 172,980 | ||||||||||||
Total assets | 703,941 | 654,796 | 703,941 | 654,796 | 427,990 | ||||||||||
Depreciation and amortization | 35,244 | 31,529 | 23,645 | ||||||||||||
Stock-based compensation | 30,247 | 25,776 | 23,006 | ||||||||||||
Capital expenditures | 29,561 | 38,631 | 22,459 | ||||||||||||
Europe [Member] | |||||||||||||||
Revenues from clients | 330,332 | 277,682 | 251,522 | ||||||||||||
Segment operating profit | 153,676 | 131,410 | 116,310 | ||||||||||||
Total assets | 609,368 | 279,864 | 609,368 | 279,864 | 239,689 | ||||||||||
Depreciation and amortization | 9,837 | 4,220 | 5,135 | ||||||||||||
Stock-based compensation | 3,320 | 3,459 | 2,991 | ||||||||||||
Capital expenditures | 2,385 | 4,092 | 460 | ||||||||||||
Asia Pacific [Member] | |||||||||||||||
Revenues from clients | [1] | 106,701 | 93,918 | 76,472 | |||||||||||
Segment operating profit | 61,355 | 53,015 | 42,628 | ||||||||||||
Total assets | $ 100,006 | $ 84,501 | 100,006 | 84,501 | 68,992 | ||||||||||
Depreciation and amortization | 3,213 | 2,303 | 2,569 | ||||||||||||
Stock-based compensation | 616 | 558 | 374 | ||||||||||||
Capital expenditures | $ 4,916 | $ 5,017 | $ 2,763 | ||||||||||||
[1] | Revenues are attributed to countries based on the location of the client. |
Note 7 - Segment Information 60
Note 7 - Segment Information - Revenues from Countries That Are 10% Or More of Revenues (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Aug. 31, 2017 | May 31, 2017 | Feb. 28, 2017 | Nov. 30, 2016 | Aug. 31, 2016 | May 31, 2016 | Feb. 28, 2016 | Nov. 30, 2015 | Aug. 31, 2017 | Aug. 31, 2016 | Aug. 31, 2015 | |||||
Revenues1 | |||||||||||||||
Revenues from clients | $ 326,642 | $ 312,120 | $ 294,354 | $ 288,063 | $ 287,291 | $ 287,501 | $ 281,796 | $ 270,504 | $ 1,221,179 | [1] | $ 1,127,092 | [1] | $ 1,006,768 | [1] | |
UNITED STATES | |||||||||||||||
Revenues1 | |||||||||||||||
Revenues from clients | [1] | 784,146 | 755,492 | 678,774 | |||||||||||
UNITED KINGDOM | |||||||||||||||
Revenues1 | |||||||||||||||
Revenues from clients | [1] | 163,732 | 154,902 | 144,769 | |||||||||||
All Other European Countries [Member] | |||||||||||||||
Revenues1 | |||||||||||||||
Revenues from clients | [1] | 166,600 | 122,780 | 106,753 | |||||||||||
Asia Pacific [Member] | |||||||||||||||
Revenues1 | |||||||||||||||
Revenues from clients | [1] | $ 106,701 | $ 93,918 | $ 76,472 | |||||||||||
[1] | Revenues are attributed to countries based on the location of the client. |
Note 7 - Segment Information 61
Note 7 - Segment Information - Long-lived Assets by Geographic Areas (Details) - USD ($) $ in Thousands | Aug. 31, 2017 | Aug. 31, 2016 | Aug. 31, 2015 | |
Long-lived Assets | [1] | $ 100,454 | $ 84,622 | $ 59,264 |
UNITED STATES | ||||
Long-lived Assets | [1] | 79,299 | 70,646 | 49,923 |
UNITED KINGDOM | ||||
Long-lived Assets | [1] | 6,012 | 5,772 | 3,655 |
All Other European Countries [Member] | ||||
Long-lived Assets | [1] | 6,306 | 1,018 | 1,322 |
Asia Pacific [Member] | ||||
Long-lived Assets | [1] | $ 8,837 | $ 7,186 | $ 4,364 |
[1] | Long-lived assets consist of property, equipment and leasehold improvements, net of accumulated depreciation and amortization and exclude goodwill, intangible assets, deferred taxes and other assets. |
Note 8 - Business Combination62
Note 8 - Business Combinations (Details Textual) | Mar. 17, 2017USD ($) | Nov. 08, 2016USD ($) | Oct. 16, 2015USD ($) | Aug. 31, 2017USD ($) | Aug. 31, 2016USD ($) |
Finite-lived Intangible Assets Acquired | $ 93,200,000 | ||||
Goodwill, Acquired During Period | 235,402,000 | $ 187,352,000 | |||
BI-SAM Technologies [Member] | |||||
Finite-lived Intangible Assets Acquired | $ 56,600,000 | ||||
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 | 3,200,000 | ||||
Vermilion Holdings Limited [Member] | |||||
Finite-lived Intangible Assets Acquired | $ 18,200,000 | ||||
Goodwill, Acquired During Period | $ 51,200,000 | ||||
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 | 700,000 | ||||
Portware LLC [Member] | |||||
Business Combination, Consideration Transferred | $ 263,600,000 | ||||
Business Combination, Acquisition Related Costs | $ 700,000 | ||||
Finite-lived Intangible Assets Acquired | 75,500,000 | 93,194,000 | |||
Goodwill, Acquired During Period | $ 187,400,000 | ||||
Goodwill Percentage Per Segment | 77.00% | ||||
Portware LLC [Member] | Customer Relationships [Member] | |||||
Finite-lived Intangible Assets Acquired | 50,152,000 | ||||
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 Assets Acquired | 1,354,000 | ||||
Finite-Lived Intangible Asset, Useful Life | 5 years | ||||
Portware LLC [Member] | Noncompete Agreements [Member] | |||||
Finite-lived Intangible Assets Acquired | $ 862,000 | ||||
Finite-Lived Intangible Asset, Useful Life | 7 years | ||||
Minimum [Member] | |||||
Finite-Lived Intangible Asset, Useful Life | 2 years | ||||
BI-SAM Technologies [Member] | |||||
Business Combination, Consideration Transferred | $ 217,600,000 | ||||
Goodwill, Acquired During Period | $ 173,900,000 | ||||
BI-SAM Technologies [Member] | Minimum [Member] | |||||
Entity Number of Employees | 160 | ||||
Vermilion Holdings Limited [Member] | |||||
Business Combination, Consideration Transferred | $ 67,900,000 | ||||
Entity Number of Employees | 59 | ||||
Portware LLC [Member] | |||||
Entity Number of Employees | 166 |
Note 8 - Business Combination63
Note 8 - Business Combinations - Business Acquired (Details) - USD ($) $ in Thousands | Aug. 31, 2017 | Mar. 17, 2017 | Nov. 08, 2016 | Sep. 23, 2016 | Aug. 31, 2016 | Oct. 16, 2015 | Aug. 31, 2015 |
Goodwill | $ 707,560 | $ 452,915 | $ 308,287 | ||||
BI-SAM Technologies [Member] | |||||||
Tangible assets acquired | $ 27,583 | ||||||
Goodwill | 173,898 | ||||||
Total assets acquired | 258,080 | ||||||
Liabilities assumed | (40,443) | ||||||
Net assets acquired | 217,637 | ||||||
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] | |||||||
Tangible assets acquired | $ 7,916 | ||||||
Goodwill | 51,157 | ||||||
Total assets acquired | 77,320 | ||||||
Liabilities assumed | (9,434) | ||||||
Net assets acquired | 67,886 | ||||||
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] | |||||||
Tangible assets acquired | $ 9,656 | ||||||
Goodwill | $ 187,378 | ||||||
Total assets acquired | 272,534 | ||||||
Liabilities assumed | (8,951) | ||||||
Net assets acquired | 263,583 | ||||||
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) | 12 Months Ended | |
Aug. 31, 2017USD ($) | Aug. 31, 2016USD ($) | |
Number of Reporting Units | 3 | |
Goodwill, Impairment Loss | $ 0 | |
Goodwill, Acquired During Period | $ 235,402,000 | $ 187,352,000 |
Note 10 - Goodwill - Changes in
Note 10 - Goodwill - Changes in the Carrying Amount of Goodwill by Segment (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Aug. 31, 2017 | Aug. 31, 2016 | |
Begining Balance | $ 452,915 | $ 308,287 |
Acquisitions and other adjustments | 235,402 | 187,352 |
Disposition | (32,406) | |
Foreign currency translations | 19,243 | (10,318) |
Ending Balance | 707,560 | 452,915 |
UNITED STATES | ||
Begining Balance | 367,480 | 211,869 |
Acquisitions and other adjustments | 19,355 | 187,352 |
Disposition | (31,741) | |
Foreign currency translations | ||
Ending Balance | 386,835 | 367,480 |
Europe [Member] | ||
Begining Balance | 82,280 | 93,725 |
Acquisitions and other adjustments | 216,047 | |
Disposition | (665) | |
Foreign currency translations | 19,432 | (10,780) |
Ending Balance | 317,759 | 82,280 |
Asia Pacific [Member] | ||
Begining Balance | 3,155 | 2,693 |
Acquisitions and other adjustments | ||
Disposition | ||
Foreign currency translations | (189) | 462 |
Ending Balance | $ 2,966 | $ 3,155 |
Note 11 - Intangible Assets (De
Note 11 - Intangible Assets (Details Textual) - USD ($) | 12 Months Ended | ||
Aug. 31, 2017 | Aug. 31, 2016 | Aug. 31, 2015 | |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 11 years 182 days | ||
Finite-lived Intangible Assets Acquired | $ 93,200,000 | ||
Amortization of Intangible Assets | 19,900,000 | $ 14,800,000 | $ 8,200,000 |
Impairment of Intangible Assets (Excluding Goodwill) | $ 0 | $ 0 | $ 0 |
Note 11 - Intangible Assets - I
Note 11 - Intangible Assets - Intangible Assets Acquired (Details) - USD ($) | Oct. 16, 2015 | Aug. 31, 2017 |
Amortization period (Year) | 11 years 182 days | |
Acquisition cost | $ 93,200,000 | |
Portware LLC [Member] | ||
Amortization period (Year) | 11 years 182 days | |
Acquisition cost | $ 75,500,000 | $ 93,194,000 |
Portware LLC [Member] | Customer Relationships [Member] | ||
Amortization period (Year) | 16 years 36 days | |
Acquisition cost | $ 50,152,000 | |
Portware LLC [Member] | Software Technology [Member] | ||
Amortization period (Year) | 6 years 109 days | |
Acquisition cost | $ 40,826,000 | |
Portware LLC [Member] | Noncompete Agreements [Member] | ||
Amortization period (Year) | 3 years 36 days | |
Acquisition cost | $ 862,000 | |
Portware LLC [Member] | Trade Names [Member] | ||
Amortization period (Year) | 4 years | |
Acquisition cost | $ 1,354,000 |
Note 11 - Intangible Assets -69
Note 11 - Intangible Assets - Identifiable Intangible Assets (Details) - USD ($) $ in Thousands | Aug. 31, 2017 | Aug. 31, 2016 |
Gross Carrying Amount | $ 248,771 | $ 148,984 |
Accumulated Amortization | 75,228 | 55,823 |
Net Carrying Amount | 173,543 | 93,161 |
Data Content [Member] | ||
Gross Carrying Amount | 34,116 | 34,167 |
Accumulated Amortization | 18,899 | 16,758 |
Net Carrying Amount | 15,217 | 17,409 |
Customer Relationships [Member] | ||
Gross Carrying Amount | 99,779 | 45,185 |
Accumulated Amortization | 22,339 | 16,480 |
Net Carrying Amount | 77,440 | 28,705 |
Computer Software, Intangible Asset [Member] | ||
Gross Carrying Amount | 105,963 | 62,560 |
Accumulated Amortization | 30,889 | 20,545 |
Net Carrying Amount | 75,074 | 42,015 |
Noncompete Agreements [Member] | ||
Gross Carrying Amount | 4,833 | 4,344 |
Accumulated Amortization | 1,518 | 1,118 |
Net Carrying Amount | 3,315 | 3,226 |
Trade Names [Member] | ||
Gross Carrying Amount | 4,080 | 2,728 |
Accumulated Amortization | 1,583 | 922 |
Net Carrying Amount | $ 2,497 | $ 1,806 |
Note 11 - Intangible Assets - E
Note 11 - Intangible Assets - Estimated Amortization Expense (Details) $ in Thousands | Aug. 31, 2017USD ($) |
2,018 | $ 24,475 |
2,019 | 23,634 |
2,020 | 22,978 |
2,021 | 21,404 |
2,022 | 19,081 |
Thereafter | 61,971 |
Total | $ 173,543 |
Note 12 - Property, Equipment71
Note 12 - Property, Equipment and Leasehold Improvements (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Aug. 31, 2017 | Aug. 31, 2016 | Aug. 31, 2015 | |
Depreciation | $ 28 | $ 23.3 | $ 23.1 |
Note 12 - Property, Equipment72
Note 12 - Property, Equipment and Leasehold Improvements - Property, Equipment and Leasehold Improvements (Details) - USD ($) $ in Thousands | Aug. 31, 2017 | Aug. 31, 2016 |
Property, equipment and leasehold improvements | $ 294,487 | $ 253,274 |
Less accumulated depreciation and amortization | (194,033) | (168,652) |
Property, equipment and leasehold improvements, net | 100,454 | 84,622 |
Leasehold Improvements [Member] | ||
Property, equipment and leasehold improvements | 113,760 | 103,238 |
Computer Equipment [Member] | ||
Property, equipment and leasehold improvements | 138,195 | 110,661 |
Furniture and Fixtures [Member] | ||
Property, equipment and leasehold improvements | $ 42,532 | $ 39,375 |
Note 13 - Common Stock and Ea73
Note 13 - Common Stock and Earnings Per Share (Details Textual) - USD ($) $ / shares in Units, $ in Millions | May 05, 2017 | May 04, 2017 | May 05, 2016 | Aug. 31, 2017 | Aug. 31, 2016 | Aug. 31, 2015 |
Increase in Dividend Rate | 12.00% | |||||
Common Stock, Dividends, Per Share, Cash Paid | $ 0.56 | $ 0.50 | ||||
Shares Paid for Tax Withholding for Share Based Compensation | 49,771 | 27,625 | 23,192 | |||
Payments Related to Tax Withholding for Share-based Compensation | $ 7.8 | $ 4.5 | $ 3.1 | |||
Employee Stock Option [Member] | ||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 704,786 | 507,658 | 88,090 | |||
Performance Shares [Member] | ||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 415,061 | 782,843 | 478,945 | |||
Per Annum [Member] | ||||||
Common Stock, Dividends, Per Share, Cash Paid | $ 2.24 |
Note 13 - Common Stock and Ea74
Note 13 - Common Stock and Earnings Per Share - Shares of Common Stock Outstanding (Details) - shares | Jul. 05, 2016 | Nov. 30, 2016 | Aug. 31, 2017 | Aug. 31, 2016 | Aug. 31, 2015 | |
Balance (in shares) | 40,038,225 | 40,038,225 | 41,317,000 | 41,793,000 | ||
Common stock issued for employee stock plans (in shares) | 693,000 | 823,000 | 1,213,000 | |||
Repurchase of common stock (in shares) | (1,554,822) | (1,478,000) | ||||
Balance (in shares) | 39,023,032 | 40,038,225 | 41,317,000 | |||
Repurchase of Common Stock from Employees [Member] | ||||||
Repurchase of common stock (in shares) | [1] | (50,000) | (28,000) | (23,000) | ||
Share Repurchase Program [Member] | ||||||
Repurchase of common stock (in shares) | (1,555,000) | (1,478,000) | (1,666,000) | |||
ASR Agreement [Member] | ||||||
Repurchase of common stock (in shares) | (595,607) | (102,916) | (103,000) | (596,000) | ||
[1] | For fiscal 2017, 2016 and 2015, the Company repurchased 49,771, 27,625 and 23,192 shares, or $7.8 million, $4.5 million and $3.1 million, of common stock, respectively, in settlement of employee tax withholding obligations due upon the vesting of restricted stock. |
Note 13 - Common Stock and Ea75
Note 13 - Common Stock and Earnings Per Share - Weighted Average Shares Outstanding (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||||||
Aug. 31, 2017 | May 31, 2017 | Feb. 28, 2017 | Nov. 30, 2016 | Aug. 31, 2016 | May 31, 2016 | Feb. 28, 2016 | Nov. 30, 2015 | Aug. 31, 2017 | Aug. 31, 2016 | Aug. 31, 2015 | |||||||||
Income available to common stockholders, net income (numerator) | $ 258,259 | $ 338,815 | $ 241,051 | ||||||||||||||||
Basic weighted average common shares (in shares) | 39,444 | 40,880 | 41,572 | ||||||||||||||||
Basic earnings per common share (in dollars per share) | $ 6.55 | $ 8.29 | $ 5.80 | ||||||||||||||||
Dilutive effect of stock options and restricted stock, weighted average common share (denominator) (in shares) | 198 | 485 | 663 | ||||||||||||||||
Income available to common stockholders plus assumed conversions, net income (numerator) | $ 258,259 | $ 338,815 | $ 241,051 | ||||||||||||||||
Income available to common stockholders plus assumed conversions, weighted average common share (denominator) (in shares) | 39,281 | 39,457 | 39,700 | 40,100 | 40,673 | 41,189 | 41,536 | 42,063 | 39,642 | 41,365 | 42,235 | ||||||||
Diluted earnings per common share (in dollars per share) | $ 1.52 | [1] | $ 1.66 | [1] | $ 1.68 | [1] | $ 1.66 | [1] | $ 3.55 | [1] | $ 1.62 | [1] | $ 1.63 | [1] | $ 1.43 | [1] | $ 6.51 | $ 8.19 | $ 5.71 |
[1] | Diluted earnings per common share is calculated independently for each of the periods presented. Accordingly, the sum of the quarterly EPS amounts may not equal the total for the fiscal year. |
Note 14 - Stockholders' Equit76
Note 14 - Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Mar. 27, 2017 | Jul. 05, 2016 | Jul. 01, 2016 | Nov. 30, 2016 | Aug. 31, 2017 | Aug. 31, 2016 | Aug. 31, 2015 | Aug. 31, 2014 | |
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 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 | 51,845,132 | 51,150,978 | |||||||
Treasury Stock, Shares | 12,822,100 | 11,112,753 | |||||||
Common Stock, Shares, Outstanding | 39,023,032 | 40,038,225 | 41,317,000 | 41,793,000 | |||||
Treasury Stock, Shares, Acquired | 1,554,822 | 1,478,000 | |||||||
Treasury Stock, Value, Acquired, Cost Method | $ 253,131 | $ 352,283 | $ 253,076 | ||||||
Stock Repurchase Program, Increase in Authorized Amount | $ 300,000 | ||||||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 244,100 | ||||||||
Shares Paid for Tax Withholding for Share Based Compensation | 49,771 | 27,625 | 23,192 | ||||||
Payments Related to Tax Withholding for Share-based Compensation | $ 7,800 | $ 4,500 | $ 3,100 | ||||||
Preferred Stock, Shares Outstanding | 0 | 0 | |||||||
Restricted Stock [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 132,194 | 69,244 | 95,000 | [1] | |||||
ASR Agreement [Member] | |||||||||
Treasury Stock, Shares, Acquired | 595,607 | 102,916 | 103,000 | 596,000 | |||||
Treasury Stock, Value, Acquired, Cost Method | $ 120,000 | ||||||||
Percent of Common Stock to Be Repurchased at Closing Price | 80.00% | ||||||||
[1] | The 94,870 restricted stock awards that vested during fiscal 2015 were comprised of: 53,495 of awards granted on October 23, 2009, which cliff vested 60% after three years (on October 23, 2012) and 40% after five years (on October 23, 2014); 14,683 restricted stock awards that were granted on April 8, 2013, which cliff vest 20% annually upon the anniversary date of the grant; 17,228 awards relating to restricted stock granted on February 9, 2010; and 9,464 restricted stock awards that were previously granted between November 2013 and November 2014. |
Note 14 - Stockholders' Equit77
Note 14 - Stockholders' Equity - Dividends Declared (Details) - USD ($) | Aug. 10, 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 12, 2015 | Feb. 11, 2015 | Nov. 12, 2014 |
Dividends Per Share of Common Stock (in dollars per share) | $ 0.56 | $ 0.56 | $ 0.50 | $ 0.50 | $ 0.50 | $ 0.50 | $ 0.44 | $ 0.44 | $ 0.44 | $ 0.44 | $ 0.39 | $ 0.39 |
Record Date | Aug. 31, 2017 | May 31, 2017 | Feb. 28, 2017 | Nov. 30, 2016 | Aug. 31, 2016 | May 31, 2016 | Feb. 29, 2016 | Nov. 30, 2015 | Aug. 31, 2015 | May 29, 2015 | Feb. 27, 2015 | Nov. 28, 2014 |
Total $ Amount | $ 21,853,000 | $ 21,951,000 | $ 19,709,000 | $ 19,852,000 | $ 20,019,000 | $ 20,171,000 | $ 18,044,000 | $ 18,208,000 | $ 18,179 | $ 18,274 | $ 16,236 | $ 16,216 |
Payment Date | Sep. 19, 2017 | Jun. 20, 2017 | Mar. 21, 2017 | Dec. 20, 2016 | Sep. 20, 2016 | Jun. 21, 2016 | Mar. 15, 2016 | Dec. 15, 2015 | Sep. 15, 2015 | Jun. 16, 2015 | Mar. 17, 2015 | Dec. 16, 2014 |
Note 15 - Stock Option and Re78
Note 15 - Stock Option and Retirement Plans (Details Textual) - USD ($) | Oct. 16, 2015 | Nov. 01, 2013 | Apr. 08, 2013 | Nov. 08, 2010 | Feb. 09, 2010 | Oct. 23, 2009 | Jun. 30, 2017 | Jan. 31, 2017 | Aug. 31, 2017 | May 31, 2017 | Feb. 28, 2017 | Nov. 30, 2016 | Aug. 31, 2016 | May 31, 2016 | Feb. 28, 2016 | Nov. 30, 2015 | Aug. 31, 2015 | May 31, 2015 | Feb. 28, 2015 | Nov. 30, 2014 | Jul. 31, 2016 | Aug. 31, 2017 | Aug. 31, 2016 | Aug. 31, 2015 | Nov. 30, 2014 | Aug. 31, 2014 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 3,366,000 | 3,364,000 | 3,117,000 | 3,366,000 | 3,364,000 | 3,117,000 | 3,482,000 | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $ 139.29 | $ 129.54 | $ 100.71 | $ 139.29 | $ 129.54 | $ 100.71 | $ 79.67 | |||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 76.90 | $ 76.90 | ||||||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 3 years 109 days | |||||||||||||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 156.77 | $ 168.55 | $ 141.84 | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ 49,668,000 | $ 49,668,000 | ||||||||||||||||||||||||||
Share Price | $ 157.18 | $ 157.18 | ||||||||||||||||||||||||||
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% | ||||||||||||||||||||||||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 75,372 | 73,072 | 63,265 | |||||||||||||||||||||||||
Common Stock, Capital Shares Reserved for Future Issuance | 333,172 | 333,172 | ||||||||||||||||||||||||||
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 | $ 10,100,000 | $ 9,700,000 | $ 8,600,000 | |||||||||||||||||||||||||
Employee Stock Option [Member] | ||||||||||||||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 165.75 | $ 163.05 | $ 169.16 | $ 152.51 | $ 171.22 | $ 152.10 | $ 150.81 | $ 170.21 | $ 165.02 | $ 159.14 | $ 147.05 | $ 131.31 | ||||||||||||||||
Employee Stock Option [Member] | The 2004 Stock Option and Award Plan [Member] | ||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | |||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 3,366,070 | 3,366,070 | ||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $ 139.29 | $ 139.29 | ||||||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 57,700,000 | $ 57,700,000 | ||||||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 3 years 109 days | |||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 1,026,984 | 1,195,649 | 828,652 | |||||||||||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 157.09 | $ 168.14 | $ 141.79 | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ 49,700,000 | $ 86,000,000 | $ 49,700,000 | $ 86,000,000 | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | 5 years 36 days | 4 years 182 days | ||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 38,000,000 | $ 60,800,000 | $ 92,700,000 | |||||||||||||||||||||||||
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 | 206,417 | 61,744 | 22,460 | 20,911 | 530,418 | 137,522 | 291,000 | 551,000 | 138,000 | |||||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 166.29 | $ 165.59 | $ 148.52 | |||||||||||||||||||||||||
Performance Shares [Member] | Share-based Compensation Award, Tranche One [Member] | ||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 0.00% | |||||||||||||||||||||||||||
One-time Cumulative Adjustment to Stock-based Compensation Upon Change in Vesting Percentage | [1] | $ (769,000) | ||||||||||||||||||||||||||
Performance Shares [Member] | Share-based Compensation Award, Tranche Two [Member] | ||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 10.00% | |||||||||||||||||||||||||||
One-time Cumulative Adjustment to Stock-based Compensation Upon Change in Vesting Percentage | [1] | $ (577,000) | ||||||||||||||||||||||||||
Performance Shares [Member] | Share-based Compensation Award, Tranche Three [Member] | ||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 40.00% | |||||||||||||||||||||||||||
One-time Cumulative Adjustment to Stock-based Compensation Upon Change in Vesting Percentage | [1] | |||||||||||||||||||||||||||
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] | ||||||||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 800,000 | $ 800,000 | ||||||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 146 days | |||||||||||||||||||||||||||
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% | |||||||||||||||||||||||||||
Performance Shares [Member] | Code Red, Inc. [Member] | Share-based Compensation Award, Tranche Two [Member] | ||||||||||||||||||||||||||||
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 | 400,000 | $ 400,000 | ||||||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 146 days | |||||||||||||||||||||||||||
Performance Shares [Member] | Portware LLC [Member] | ||||||||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | 2,900,000 | $ 2,900,000 | ||||||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 3 years 36 days | |||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 530,418 | |||||||||||||||||||||||||||
One-time Cumulative Adjustment to Stock-based Compensation Upon Change in Vesting Percentage | $ 1,800,000 | |||||||||||||||||||||||||||
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 | 70.00% | |||||||||||||||||||||||||||
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 | 40.00% | |||||||||||||||||||||||||||
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 | 20.00% | |||||||||||||||||||||||||||
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% | 0.00% | ||||||||||||||||||||||||||
One-time Cumulative Adjustment to Stock-based Compensation Upon Change in Vesting Percentage | [1] | |||||||||||||||||||||||||||
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% | 100.00% | ||||||||||||||||||||||||||
One-time Cumulative Adjustment to Stock-based Compensation Upon Change in Vesting Percentage | [1] | $ 338,000 | ||||||||||||||||||||||||||
Performance Shares [Member] | BI-SAM Technologies [Member] | ||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 206,417 | |||||||||||||||||||||||||||
Performance Shares [Member] | BI-SAM Technologies [Member] | Share-based Compensation Award, Tranche One [Member] | ||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 40.00% | 0.00% | ||||||||||||||||||||||||||
One-time Cumulative Adjustment to Stock-based Compensation Upon Change in Vesting Percentage | [1] | |||||||||||||||||||||||||||
Performance Shares [Member] | BI-SAM Technologies [Member] | Share-based Compensation Award, Tranche Two [Member] | ||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | 80.00% | ||||||||||||||||||||||||||
One-time Cumulative Adjustment to Stock-based Compensation Upon Change in Vesting Percentage | [1] | $ 237,000 | ||||||||||||||||||||||||||
Performance Shares [Member] | BI-SAM Technologies [Member] | Share-based Compensation Award, Tranche Three [Member] | ||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 90.00% | |||||||||||||||||||||||||||
One-time Cumulative Adjustment to Stock-based Compensation Upon Change in Vesting Percentage | [1] | $ 267,000 | ||||||||||||||||||||||||||
Performance Shares, Additional Granted [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 | |||||||||||||||||||||||||||
Performance Shares, Additional Granted [Member] | Portware LLC [Member] | ||||||||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 400,000 | $ 400,000 | ||||||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 3 years 328 days | |||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 20,911 | |||||||||||||||||||||||||||
One-time Cumulative Adjustment to Stock-based Compensation Upon Change in Vesting Percentage | $ 100,000 | |||||||||||||||||||||||||||
Performance Shares, Additional Granted [Member] | Portware LLC [Member] | Share-based Compensation Award, Tranche One [Member] | ||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 70.00% | |||||||||||||||||||||||||||
Performance Shares, Additional Granted [Member] | Portware LLC [Member] | Share-based Compensation Award, Tranche Two [Member] | ||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 40.00% | |||||||||||||||||||||||||||
Performance Shares, Additional Granted [Member] | Portware LLC [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, Grants in Period | 49,473 | 0 | 7,843 | 5,084 | 3,944 | 255 | 0 | 93,120 | 5,704 | 845 | 38,088 | 10,225 | 62,000 | 97,000 | 55,000 | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 158.46 | $ 161.31 | $ 151.63 | $ 164.77 | $ 146.20 | $ 159.46 | $ 157.84 | $ 152.77 | $ 137.83 | $ 127.58 | $ 158.26 | $ 159.64 | $ 138.23 | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 182,000 | 262,000 | 313,000 | 182,000 | 262,000 | 313,000 | 368,000 | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 132,194 | 69,244 | 95,000 | [2] | ||||||||||||||||||||||||
Restricted Stock [Member] | Market Research Business [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | ||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 17,482 | 11,182 | ||||||||||||||||||||||||||
Restricted Stock [Member] | The 2004 Stock Option and Award Plan [Member] | ||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||||||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 19,100,000 | $ 19,100,000 | ||||||||||||||||||||||||||
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, Award Vesting Rights, Percentage | 60.00% | 20.00% | 40.00% | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 73,522 | 14,683 | 37,079 | 17,228 | 53,495 | 62,400 | 97,319 | 54,862 | 9,464 | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 158.26 | $ 159.64 | $ 138.23 | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 182,175 | 182,175 | ||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 132,194 | 69,244 | 94,870 | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Share Equivalent | 2.5 | 2.5 | ||||||||||||||||||||||||||
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 | 3 years | |||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | 60.00% | ||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 17,328 | |||||||||||||||||||||||||||
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 Period | 5 years | |||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 100.00% | 40.00% | ||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 30,162 | |||||||||||||||||||||||||||
[1] | Amounts represent the cumulative catch-up adjustment to be recorded if there was a change in the vesting percentage as of August 31, 2017. | |||||||||||||||||||||||||||
[2] | The 94,870 restricted stock awards that vested during fiscal 2015 were comprised of: 53,495 of awards granted on October 23, 2009, which cliff vested 60% after three years (on October 23, 2012) and 40% after five years (on October 23, 2014); 14,683 restricted stock awards that were granted on April 8, 2013, which cliff vest 20% annually upon the anniversary date of the grant; 17,228 awards relating to restricted stock granted on February 9, 2010; and 9,464 restricted stock awards that were previously granted between November 2013 and November 2014. |
Note 15 - Stock Option and Re79
Note 15 - Stock Option and Retirement Plans - Summary of Stock Option Activity (Details) - $ / shares | 3 Months Ended | 12 Months Ended | |||||||||||||
Aug. 31, 2017 | May 31, 2017 | Feb. 28, 2017 | Nov. 30, 2016 | Aug. 31, 2016 | May 31, 2016 | Feb. 28, 2016 | Nov. 30, 2015 | Aug. 31, 2015 | May 31, 2015 | Feb. 28, 2015 | Nov. 30, 2014 | Aug. 31, 2017 | Aug. 31, 2016 | Aug. 31, 2015 | |
Balance (in shares) | 3,364,000 | 3,117,000 | 3,482,000 | 3,364,000 | 3,117,000 | 3,482,000 | |||||||||
Balance (in dollars per share) | $ 129.54 | $ 100.71 | $ 79.67 | $ 129.54 | $ 100.71 | $ 79.67 | |||||||||
Weighted average exercise price (in dollars per share) | $ 156.77 | $ 168.55 | $ 141.84 | ||||||||||||
Exercised (in shares) | (487,000) | (681,000) | (1,060,000) | ||||||||||||
Exercised (in dollars per share) | $ 86.17 | $ 71.52 | $ 63.03 | ||||||||||||
Forfeited (in shares) | (539,000) | (268,000) | (134,000) | ||||||||||||
Forfeited (in dollars per share) | $ 160.31 | $ 113.70 | $ 106.01 | ||||||||||||
Balance (in shares) | 3,366,000 | 3,364,000 | 3,117,000 | 3,366,000 | 3,364,000 | 3,117,000 | |||||||||
Balance (in dollars per share) | $ 139.29 | $ 129.54 | $ 100.71 | $ 139.29 | $ 129.54 | $ 100.71 | |||||||||
Balance (in dollars per share) | $ 139.29 | $ 129.54 | $ 129.54 | $ 100.71 | $ 100.71 | $ 79.67 | $ 129.54 | $ 100.71 | $ 79.67 | ||||||
Non Performance Based [Member] | |||||||||||||||
Granted (in shares) | 29,650 | 11,604 | 671,263 | 103,903 | 4,073 | 513,785 | 128,090 | 61,210 | 25,075 | 462,913 | 713,000 | 622,000 | 677,000 | ||
Weighted average exercise price (in dollars per share) | $ 152.89 | $ 171.18 | $ 140.49 | ||||||||||||
Performance Shares [Member] | |||||||||||||||
Granted (in shares) | 206,417 | 61,744 | 22,460 | 20,911 | 530,418 | 137,522 | 291,000 | 551,000 | 138,000 | ||||||
Weighted average exercise price (in dollars per share) | $ 166.29 | $ 165.59 | $ 148.52 | ||||||||||||
Non-Employee Director Grant [Member] | |||||||||||||||
Granted (in shares) | 24,000 | 23,000 | 14,000 | ||||||||||||
Weighted average exercise price (in dollars per share) | $ 170.24 | $ 146.82 | $ 138.48 |
Note 15 - Stock Option and Re80
Note 15 - Stock Option and Retirement Plans - Exercise Price Ranges of Outstanding and Exercisable Options (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |||
Aug. 31, 2017 | Aug. 31, 2016 | Aug. 31, 2015 | Aug. 31, 2014 | |
Number Outstanding (in shares) | 3,366 | 3,364 | 3,117 | 3,482 |
Outstanding Weighted Average Remaining Years of Contractual Life (Year) | 7 years 146 days | |||
Balance (in dollars per share) | $ 139.29 | $ 129.54 | $ 100.71 | $ 79.67 |
Outstanding Aggregate Intrinsic Value | $ 74,244 | |||
Exercisable Number Exercisable (in shares) | 918 | 970 | 1,352 | |
Exercisable Weighted Average Exercise Price Per Share (in dollars per share) | $ 105.14 | $ 89.42 | $ 78.70 | |
Exercisable Aggregate Intrinsic Value | $ 49,668 | |||
Range 1 [Member] | ||||
Range of Exercise Prices Per Share, Lower Limit (in dollars per share) | $ 87.26 | |||
Range of Exercise Prices Per Share, Upper Limit (in dollars per share) | $ 92.22 | |||
Number Outstanding (in shares) | 627 | |||
Outstanding Weighted Average Remaining Years of Contractual Life (Year) | 4 years 255 days | |||
Balance (in dollars per share) | $ 91.59 | |||
Outstanding Aggregate Intrinsic Value | $ 41,122 | |||
Exercisable Number Exercisable (in shares) | 536 | |||
Exercisable Weighted Average Exercise Price Per Share (in dollars per share) | $ 91.61 | |||
Exercisable Aggregate Intrinsic Value | $ 35,146 | |||
Range 2 [Member] | ||||
Range of Exercise Prices Per Share, Lower Limit (in dollars per share) | $ 94.84 | |||
Range of Exercise Prices Per Share, Upper Limit (in dollars per share) | $ 110.31 | |||
Number Outstanding (in shares) | 306 | |||
Outstanding Weighted Average Remaining Years of Contractual Life (Year) | 4 years 328 days | |||
Balance (in dollars per share) | $ 99.02 | |||
Outstanding Aggregate Intrinsic Value | $ 17,797 | |||
Exercisable Number Exercisable (in shares) | 240 | |||
Exercisable Weighted Average Exercise Price Per Share (in dollars per share) | $ 97.41 | |||
Exercisable Aggregate Intrinsic Value | $ 14,345 | |||
Range 3 [Member] | ||||
Range of Exercise Prices Per Share, Lower Limit (in dollars per share) | $ 131.31 | |||
Range of Exercise Prices Per Share, Upper Limit (in dollars per share) | $ 148.52 | |||
Number Outstanding (in shares) | 540 | |||
Outstanding Weighted Average Remaining Years of Contractual Life (Year) | 7 years 36 days | |||
Balance (in dollars per share) | $ 135.46 | |||
Outstanding Aggregate Intrinsic Value | $ 11,730 | |||
Exercisable Number Exercisable (in shares) | 4 | |||
Exercisable Weighted Average Exercise Price Per Share (in dollars per share) | $ 138.48 | |||
Exercisable Aggregate Intrinsic Value | $ 75 | |||
Range 4 [Member] | ||||
Range of Exercise Prices Per Share, Lower Limit (in dollars per share) | $ 150.81 | |||
Range of Exercise Prices Per Share, Upper Limit (in dollars per share) | $ 152.28 | |||
Number Outstanding (in shares) | 729 | |||
Outstanding Weighted Average Remaining Years of Contractual Life (Year) | 9 years 36 days | |||
Balance (in dollars per share) | $ 152.25 | |||
Outstanding Aggregate Intrinsic Value | $ 3,595 | |||
Exercisable Number Exercisable (in shares) | 20 | |||
Exercisable Weighted Average Exercise Price Per Share (in dollars per share) | $ 152.05 | |||
Exercisable Aggregate Intrinsic Value | $ 102 | |||
Range 5 [Member] | ||||
Range of Exercise Prices Per Share, Lower Limit (in dollars per share) | $ 159.14 | |||
Range of Exercise Prices Per Share, Upper Limit (in dollars per share) | $ 170.24 | |||
Number Outstanding (in shares) | 692 | |||
Outstanding Weighted Average Remaining Years of Contractual Life (Year) | 8 years 255 days | |||
Balance (in dollars per share) | $ 165.23 | |||
Outstanding Aggregate Intrinsic Value | ||||
Exercisable Number Exercisable (in shares) | 27 | |||
Exercisable Weighted Average Exercise Price Per Share (in dollars per share) | $ 164.90 | |||
Exercisable Aggregate Intrinsic Value | ||||
Range 6 [Member] | ||||
Range of Exercise Prices Per Share, Lower Limit (in dollars per share) | $ 171.22 | |||
Range of Exercise Prices Per Share, Upper Limit (in dollars per share) | $ 175.20 | |||
Number Outstanding (in shares) | 472 | |||
Outstanding Weighted Average Remaining Years of Contractual Life (Year) | 8 years 36 days | |||
Balance (in dollars per share) | $ 173.39 | |||
Outstanding Aggregate Intrinsic Value | ||||
Exercisable Number Exercisable (in shares) | 91 | |||
Exercisable Weighted Average Exercise Price Per Share (in dollars per share) | $ 175.20 | |||
Exercisable Aggregate Intrinsic Value |
Note 15 - Stock Option and Re81
Note 15 - Stock Option and Retirement Plans - Stock Options Outstanding and Exercisable (Details) - $ / shares shares in Thousands | Aug. 31, 2017 | Aug. 31, 2016 | Aug. 31, 2015 | Aug. 31, 2014 |
Number Outstanding (in shares) | 3,366 | 3,364 | 3,117 | 3,482 |
Balance (in dollars per share) | $ 139.29 | $ 129.54 | $ 100.71 | $ 79.67 |
Exercisable Number Exercisable (in shares) | 918 | 970 | 1,352 | |
Exercisable Weighted Average Exercise Price Per Share (in dollars per share) | $ 105.14 | $ 89.42 | $ 78.70 |
Note 15 - Stock Option and Re82
Note 15 - Stock Option and Retirement Plans - Changes to the Current Estimate of the Vesting Percentage and Related Expense (Details) - Performance Shares [Member] $ in Thousands | 12 Months Ended | |
Aug. 31, 2017USD ($) | ||
Share-based Compensation Award, Tranche One [Member] | ||
Cumulative Catch-up Adjustment | $ (769) | [1] |
Remaining Expense to be Recognized | ||
Share-based Compensation Award, Tranche One [Member] | Vermilion Holdings Limited [Member] | ||
Cumulative Catch-up Adjustment | [1] | |
Remaining Expense to be Recognized | ||
Share-based Compensation Award, Tranche One [Member] | BI-SAM Technologies [Member] | ||
Cumulative Catch-up Adjustment | [1] | |
Remaining Expense to be Recognized | ||
Share-based Compensation Award, Tranche Two [Member] | ||
Cumulative Catch-up Adjustment | (577) | [1] |
Remaining Expense to be Recognized | 108 | |
Share-based Compensation Award, Tranche Two [Member] | Vermilion Holdings Limited [Member] | ||
Cumulative Catch-up Adjustment | 338 | [1] |
Remaining Expense to be Recognized | 2,367 | |
Share-based Compensation Award, Tranche Two [Member] | BI-SAM Technologies [Member] | ||
Cumulative Catch-up Adjustment | 237 | [1] |
Remaining Expense to be Recognized | 6,870 | |
Share-based Compensation Award, Tranche Three [Member] | ||
Cumulative Catch-up Adjustment | [1] | |
Remaining Expense to be Recognized | 431 | |
Share-based Compensation Award, Tranche Three [Member] | BI-SAM Technologies [Member] | ||
Cumulative Catch-up Adjustment | 267 | [1] |
Remaining Expense to be Recognized | 7,729 | |
Share-based Compensation Award, Tranche Four [Member] | ||
Cumulative Catch-up Adjustment | 577 | [1] |
Remaining Expense to be Recognized | 755 | |
Share-based Compensation Award, Tranche Four [Member] | BI-SAM Technologies [Member] | ||
Cumulative Catch-up Adjustment | 296 | [1] |
Remaining Expense to be Recognized | 8,588 | |
Share-based Compensation Award, Tranche Five [Member] | ||
Cumulative Catch-up Adjustment | 1,153 | [1] |
Remaining Expense to be Recognized | $ 1,078 | |
[1] | Amounts represent the cumulative catch-up adjustment to be recorded if there was a change in the vesting percentage as of August 31, 2017. |
Note 15 - Stock Option and Re83
Note 15 - Stock Option and Retirement Plans - Changes to the Current Estimate of the Vesting Percentage and Related Expense (Details) (Parentheticals) - Performance Shares [Member] | 1 Months Ended | 12 Months Ended | |
Jun. 30, 2017 | Jan. 31, 2017 | Aug. 31, 2017 | |
Share-based Compensation Award, Tranche One [Member] | |||
Vesting percentage | 0.00% | ||
Share-based Compensation Award, Tranche One [Member] | Vermilion Holdings Limited [Member] | |||
Vesting percentage | 40.00% | 0.00% | |
Share-based Compensation Award, Tranche One [Member] | BI-SAM Technologies [Member] | |||
Vesting percentage | 40.00% | 0.00% | |
Share-based Compensation Award, Tranche Two [Member] | |||
Vesting percentage | 10.00% | ||
Share-based Compensation Award, Tranche Two [Member] | Vermilion Holdings Limited [Member] | |||
Vesting percentage | 20.00% | 100.00% | |
Share-based Compensation Award, Tranche Two [Member] | BI-SAM Technologies [Member] | |||
Vesting percentage | 20.00% | 80.00% | |
Share-based Compensation Award, Tranche Three [Member] | |||
Vesting percentage | 40.00% | ||
Share-based Compensation Award, Tranche Three [Member] | BI-SAM Technologies [Member] | |||
Vesting percentage | 90.00% | ||
Share-based Compensation Award, Tranche Four [Member] | |||
Vesting percentage | 70.00% | ||
Share-based Compensation Award, Tranche Four [Member] | BI-SAM Technologies [Member] | |||
Vesting percentage | 100.00% | ||
Share-based Compensation Award, Tranche Five [Member] | |||
Vesting percentage | 100.00% |
Note 15 - Stock Option and Re84
Note 15 - Stock Option and Retirement Plans - Summary of Restricted Stock Award (Details) - Restricted Stock [Member] - $ / shares | 3 Months Ended | 12 Months Ended | ||||||||||||||||
Aug. 31, 2017 | May 31, 2017 | Feb. 28, 2017 | Nov. 30, 2016 | Aug. 31, 2016 | May 31, 2016 | Feb. 28, 2016 | Nov. 30, 2015 | Aug. 31, 2015 | May 31, 2015 | Feb. 28, 2015 | Nov. 30, 2014 | Aug. 31, 2017 | Aug. 31, 2016 | Aug. 31, 2015 | ||||
Balance (in shares) | 262,000 | 313,000 | 368,000 | 262,000 | 313,000 | 368,000 | ||||||||||||
Balance (in dollars per share) | $ 126.27 | $ 103.34 | $ 89.77 | $ 126.27 | $ 103.34 | $ 89.77 | ||||||||||||
Granted (in shares) | 49,473 | 0 | 7,843 | 5,084 | 3,944 | 255 | 0 | 93,120 | 5,704 | 845 | 38,088 | 10,225 | 62,000 | 97,000 | 55,000 | |||
Granted (in dollars per share) | $ 158.46 | $ 161.31 | $ 151.63 | $ 164.77 | $ 146.20 | $ 159.46 | $ 157.84 | $ 152.77 | $ 137.83 | $ 127.58 | $ 158.26 | $ 159.64 | $ 138.23 | |||||
Vested (in shares) | (132,194) | (69,244) | (95,000) | [1] | ||||||||||||||
Vested (in dollars per share) | $ 123.28 | [2] | $ 85.04 | [3] | $ 70.94 | [1] | ||||||||||||
Canceled/forfeited (in shares) | (10,000) | (79,000) | (15,000) | |||||||||||||||
Canceled/forfeited (in dollars per share) | $ 130.32 | $ 112.51 | $ 101.04 | |||||||||||||||
Balance (in shares) | 182,000 | 262,000 | 313,000 | 182,000 | 262,000 | 313,000 | ||||||||||||
Balance (in dollars per share) | $ 138.62 | $ 126.27 | $ 103.34 | $ 138.62 | $ 126.27 | $ 103.34 | ||||||||||||
[1] | The 94,870 restricted stock awards that vested during fiscal 2015 were comprised of: 53,495 of awards granted on October 23, 2009, which cliff vested 60% after three years (on October 23, 2012) and 40% after five years (on October 23, 2014); 14,683 restricted stock awards that were granted on April 8, 2013, which cliff vest 20% annually upon the anniversary date of the grant; 17,228 awards relating to restricted stock granted on February 9, 2010; and 9,464 restricted stock awards that were previously granted between November 2013 and November 2014. | |||||||||||||||||
[2] | The 132,194 restricted stock awards that vested during fiscal 2017 were comprised of: 73,522 of awards relating to restricted stock granted on November 1, 2013, which cliff vested 60% after three years, 17,328 of awards relating to restricted stock granted on October 16, 2015, which vested 20% annually upon the anniversary date of the grant and 30,162 of awards relating to restricted stock granted on October 16, 2015, which were modified to accelerate vest 100% in conjunction with employee severance. Additionally, 11,182 awards vested related to other grants. | |||||||||||||||||
[3] | The 69,244 restricted stock awards that vested during fiscal 2016 were comprised of: 37,079 of awards relating to restricted stock granted on November 8, 2010 (remaining 40%) and 14,683 restricted stock awards that were granted on April 8, 2013, which cliff vest 20% annually upon the anniversary date of the grant. Additionally, 17,482 awards vested related to other grants. |
Note 15 - Stock Option and Re85
Note 15 - Stock Option and Retirement Plans - Summary of Share-based Awards Available for Grant (Details) - shares shares in Thousands | 12 Months Ended | ||||
Aug. 31, 2017 | Aug. 31, 2016 | Aug. 31, 2015 | |||
The 2004 Stock Option and Award Plan [Member] | |||||
Balance (in shares) | 1,491 | 2,441 | 3,222 | ||
Share-based awards canceled/forfeited (in shares) | [1] | 566 | 466 | 171 | [2] |
Balance (in shares) | 897 | 1,491 | 2,441 | ||
The 2004 Stock Option and Award Plan [Member] | Non Performance Based [Member] | |||||
Granted (in shares) | (713) | (622) | (677) | ||
The 2004 Stock Option and Award Plan [Member] | Performance Shares [Member] | |||||
Granted (in shares) | (291) | (551) | (138) | ||
The 2004 Stock Option and Award Plan [Member] | Non-Employee Director Grant [Member] | |||||
Granted (in shares) | |||||
The 2004 Stock Option and Award Plan [Member] | Restricted Stock [Member] | |||||
Granted (in shares) | [2] | (156) | (243) | (137) | |
Non Employee Directors Stock Option Plan [Member] | |||||
Balance (in shares) | 66 | 88 | 102 | ||
Share-based awards canceled/forfeited (in shares) | [1] | [2] | |||
Balance (in shares) | 42 | 66 | 88 | ||
Non Employee Directors Stock Option Plan [Member] | Non Performance Based [Member] | |||||
Granted (in shares) | |||||
Non Employee Directors Stock Option Plan [Member] | Performance Shares [Member] | |||||
Granted (in shares) | |||||
Non Employee Directors Stock Option Plan [Member] | Non-Employee Director Grant [Member] | |||||
Granted (in shares) | (24) | (22) | (14) | ||
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 16 - Stock-based Compens86
Note 16 - Stock-based Compensation (Details Textual) - USD ($) | Jan. 13, 2017 | Jan. 15, 2016 | Jan. 15, 2015 | Aug. 31, 2017 | May 31, 2017 | Feb. 28, 2017 | Nov. 30, 2016 | Aug. 31, 2016 | May 31, 2016 | Feb. 28, 2016 | Nov. 30, 2015 | Aug. 31, 2015 | May 31, 2015 | Feb. 28, 2015 | Nov. 30, 2014 | Aug. 31, 2017 | Aug. 31, 2016 | Aug. 31, 2015 | Aug. 31, 2008 |
Allocated Share-based Compensation Expense | $ 34,183,000 | $ 29,793,000 | $ 26,371,000 | ||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 76.90 | $ 76.90 | |||||||||||||||||
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 | |||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 156.77 | $ 168.55 | $ 141.84 | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 40.68 | $ 46.08 | $ 41.87 | ||||||||||||||||
Common Stock, Capital Shares Reserved for Future Issuance | 333,172 | 333,172 | |||||||||||||||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 75,372 | 73,072 | 63,265 | ||||||||||||||||
Non Employee Directors Stock Option Plan [Member] | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 23,846 | 22,559 | 13,842 | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 35.65 | $ 31.03 | $ 28.18 | ||||||||||||||||
Common Stock, Capital Shares Reserved for Future Issuance | 250,000 | ||||||||||||||||||
Non Employee Directors Stock Option Plan [Member] | Malcolm Frank [Member] | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 2,104 | ||||||||||||||||||
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 | ||||||||||||||||||
The 2008 Employee Stock Purchase Plan [Member] | |||||||||||||||||||
Allocated Share-based Compensation Expense | $ 2,100,000 | $ 1,900,000 | $ 1,500,000 | ||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 136.34 | $ 131.14 | $ 122.76 | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 28.16 | $ 26.87 | $ 24.05 | ||||||||||||||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 75,372 | 73,072 | 63,265 | ||||||||||||||||
Non Performance Based [Member] | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 29,650 | 11,604 | 671,263 | 103,903 | 4,073 | 513,785 | 128,090 | 61,210 | 25,075 | 462,913 | 713,000 | 622,000 | 677,000 | ||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 152.89 | $ 171.18 | $ 140.49 | ||||||||||||||||
Performance Shares [Member] | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 206,417 | 61,744 | 22,460 | 20,911 | 530,418 | 137,522 | 291,000 | 551,000 | 138,000 | ||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 166.29 | $ 165.59 | $ 148.52 | ||||||||||||||||
Employee Stock Option [Member] | |||||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 165.75 | $ 163.05 | $ 169.16 | $ 152.51 | $ 171.22 | $ 152.10 | $ 150.81 | $ 170.21 | $ 165.02 | $ 159.14 | $ 147.05 | $ 131.31 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 42.93 | $ 42.23 | $ 43.81 | $ 39.60 | $ 47.82 | $ 40.57 | $ 40.51 | $ 46.62 | $ 54.10 | $ 44.95 | $ 43.05 | $ 37.67 | |||||||
Restricted Stock [Member] | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 49,473 | 0 | 7,843 | 5,084 | 3,944 | 255 | 0 | 93,120 | 5,704 | 845 | 38,088 | 10,225 | 62,000 | 97,000 | 55,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 158.46 | $ 161.31 | $ 151.63 | $ 164.77 | $ 146.20 | $ 159.46 | $ 157.84 | $ 152.77 | $ 137.83 | $ 127.58 | $ 158.26 | $ 159.64 | $ 138.23 |
Note 16 - Stock-based Compens87
Note 16 - Stock-based Compensation - Summary of Stock Option Weighted Average Assumptions of Employee Stock Options (Details) - $ / shares | 12 Months Ended | ||
Aug. 31, 2017 | Aug. 31, 2016 | Aug. 31, 2015 | |
Dividend yield | 1.18% | 1.09% | 1.32% |
Weighted average estimated fair value (in dollars per share) | $ 40.68 | $ 46.08 | $ 41.87 |
Weighted average exercise price (in dollars per share) | $ 156.77 | $ 168.55 | $ 141.84 |
Fair value as a percentage of exercise price | 25.90% | 27.30% | 29.50% |
Minimum [Member] | |||
Term structure of risk-free interest rate | 0.07% | 0.07% | 0.01% |
Expected life (Year) | 7 years 146 days | 7 years 109 days | 5 years 292 days |
Term structure of volatility | 21.00% | 21.00% | 20.00% |
Fair value as a percentage of exercise price | |||
Maximum [Member] | |||
Term structure of risk-free interest rate | 2.09% | 2.10% | 2.30% |
Expected life (Year) | 8 years 36 days | 8 years 36 days | 9 years 146 days |
Term structure of volatility | 30.00% | 30.00% | 31.00% |
Fair value as a percentage of exercise price |
Note 16 - Stock-based Compens88
Note 16 - Stock-based Compensation - Summary of Stock Option Weighted Average Assumptions of Non-employee Director Stock Options (Details) | 12 Months Ended | ||
Aug. 31, 2017 | Aug. 31, 2016 | Aug. 31, 2015 | |
Dividend yield | 1.18% | 1.09% | 1.32% |
Employee Stock Option [Member] | Non Employee Directors Stock Option Plan [Member] | |||
Risk-free interest rate | 1.95% | 1.62% | 1.45% |
Expected life (Year) | 5 years 146 days | 5 years 146 days | 5 years 146 days |
Expected volatility | 22.70% | 23.00% | 23.00% |
Dividend yield | 1.24% | 1.05% | 1.30% |
Note 16 - Stock-based Compens89
Note 16 - Stock-based Compensation - Summary of Stock Option Weighted Average Assumptions, Employee Stock Purchase Plan (Details) | 12 Months Ended | ||
Aug. 31, 2017 | Aug. 31, 2016 | Aug. 31, 2015 | |
Dividend yield | 1.18% | 1.09% | 1.32% |
The 2008 Employee Stock Purchase Plan [Member] | |||
Risk-free interest rate | 0.69% | 0.22% | 0.03% |
Expected life (months) (Month) | 90 days | 90 days | 90 days |
Expected volatility | 8.60% | 10.70% | 16.30% |
Dividend yield | 1.25% | 1.18% | 1.15% |
Note 17 - Income Taxes (Details
Note 17 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | |||||||||||
Aug. 31, 2017 | Aug. 31, 2017 | Aug. 31, 2017 | Aug. 31, 2016 | Aug. 31, 2016 | Aug. 31, 2016 | Aug. 31, 2015 | Aug. 31, 2015 | Aug. 31, 2015 | Aug. 31, 2014 | |||
Effective Income Tax Rate Reconciliation, Operational Realignment, Basis Point | 2.00% | |||||||||||
Effective Income Tax Rate Reconciliation, Percent | 25.00% | 25.00% | 26.50% | 26.50% | [1] | 27.80% | 27.80% | [2] | ||||
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Amount | $ 10,500,000 | $ 8,800,000 | ||||||||||
Undistributed Earnings of Foreign Subsidiaries | $ 223,600,000 | $ 223,600,000 | $ 223,600,000 | |||||||||
Unrecognized Tax Benefits | 11,484,000 | 11,484,000 | 11,484,000 | $ 8,782,000 | 8,782,000 | $ 8,782,000 | $ 6,776,000 | 6,776,000 | $ 6,776,000 | $ 5,501,000 | ||
Unrecognized Tax Benefits, Interest on Income Taxes Accrued | $ 1,500,000 | 1,500,000 | $ 1,500,000 | $ 1,300,000 | 1,300,000 | $ 1,300,000 | ||||||
Unrecognized Tax Benefits, Interest on Income Taxes Expense | $ 200,000 | $ 200,000 | $ 200,000 | |||||||||
[1] | The fiscal 2016 effective tax rate of 26.5% includes income tax benefits of $10.5 million primarily from the permanent reenactment of the U.S. Federal R&D Tax Credit (the "R&D tax credit") in December 2015, finalizing the fiscal 2015 tax returns and other discrete items. The reenactment of the R&D tax credit was retroactive to January 1, 2015, and eliminates the yearly uncertainty surrounding the extension of the credit. | |||||||||||
[2] | The fiscal 2015 effective tax rate of 27.8% includes income tax benefits of $8.8 million primarily from the reenactment of the R&D tax credit in December 2014, finalizing the fiscal 2014 tax returns and other discrete items. |
Note 17 - Income Taxes - Provis
Note 17 - Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||||||||
Aug. 31, 2017 | Aug. 31, 2017 | Aug. 31, 2017 | Aug. 31, 2016 | Aug. 31, 2016 | Aug. 31, 2016 | [1] | Aug. 31, 2015 | Aug. 31, 2015 | Aug. 31, 2015 | [2] | |
U.S. operations | $ 218,650 | $ 353,434 | $ 263,411 | ||||||||
Non-U.S. operations | 125,662 | 107,559 | 70,343 | ||||||||
Income before income taxes | 344,312 | 460,993 | 333,754 | ||||||||
U.S. operations | 65,403 | 106,671 | 88,147 | ||||||||
Non-U.S. operations | 20,650 | 15,507 | 4,556 | ||||||||
Total provision for income taxes | $ 86,053 | $ 122,178 | $ 92,703 | ||||||||
Effective Income Tax Rate Reconciliation, Percent | 25.00% | 25.00% | 26.50% | 26.50% | 27.80% | 27.80% | |||||
[1] | The fiscal 2016 effective tax rate of 26.5% includes income tax benefits of $10.5 million primarily from the permanent reenactment of the U.S. Federal R&D Tax Credit (the "R&D tax credit") in December 2015, finalizing the fiscal 2015 tax returns and other discrete items. The reenactment of the R&D tax credit was retroactive to January 1, 2015, and eliminates the yearly uncertainty surrounding the extension of the credit. | ||||||||||
[2] | The fiscal 2015 effective tax rate of 27.8% includes income tax benefits of $8.8 million primarily from the reenactment of the R&D tax credit in December 2014, finalizing the fiscal 2014 tax returns and other discrete items. |
Note 17 - Income Taxes - Compon
Note 17 - Income Taxes - Components of the Provision for Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Aug. 31, 2017 | Aug. 31, 2016 | Aug. 31, 2015 | |
Current | |||
U.S. federal | $ 58,057 | $ 97,703 | $ 82,885 |
U.S. state and local | 5,659 | 4,917 | 4,419 |
Non-U.S. | 17,458 | 15,030 | 6,368 |
Total current taxes | 81,174 | 117,650 | 93,672 |
Deferred | |||
U.S. federal | 4,320 | 3,915 | 720 |
U.S. state and local | (77) | 136 | 123 |
Non-U.S. | 636 | 477 | (1,812) |
Total deferred taxes | 4,879 | 4,528 | (969) |
Total provision for income taxes | $ 86,053 | $ 122,178 | $ 92,703 |
Note 17 - Income Taxes - Percen
Note 17 - Income Taxes - Percentage of Income Before Income Taxes (Details) | 12 Months Ended | ||||||||
Aug. 31, 2017 | Aug. 31, 2017Rate | Aug. 31, 2016 | Aug. 31, 2016Rate | Aug. 31, 2015 | Aug. 31, 2015Rate | ||||
Tax at U.S. Federal statutory tax rate (Rate) | 35.00% | 35.00% | 35.00% | ||||||
Increase (decrease) in taxes resulting from: | |||||||||
State and local taxes, net of U.S. federal income tax benefit (Rate) | 1.80% | 1.50% | 1.60% | ||||||
Foreign income at other than U.S. rates (Rate) | (7.00%) | [1] | (5.00%) | [2] | (3.00%) | [1] | |||
Domestic production activities deduction (Rate) | (2.10%) | (1.50%) | (2.20%) | ||||||
Income tax benefits from R&D tax credits (Rate) | (3.30%) | (3.60%) | (2.70%) | ||||||
Income tax benefits from foreign tax credits (Rate) | (0.30%) | (0.20%) | (0.30%) | ||||||
Other, net (Rate) | 0.90% | 0.30% | (0.60%) | ||||||
Effective Income Tax Rate Reconciliation, Percent | 25.00% | 25.00% | 26.50% | 26.50% | [3] | 27.80% | 27.80% | [4] | |
[1] | Includes a 200 basis point benefit as a result of FactSet's global realignment. Effective September 1, 2016, FactSet realigned certain aspects of its global operations from FactSet Research Systems Inc., its U.S. parent company, to FactSet UK Limited, a U.K. operating company, to better position the Company to serve its growing client base outside the U.S. This realignment allows the Company to further implement strategic corporate objectives and helps achieve operational and financial efficiencies, while complementing FactSet's increasing global growth and reach. | ||||||||
[2] | Includes a portion of the gain from the sale of the Market Metrics business that was not taxable in the UK | ||||||||
[3] | The fiscal 2016 effective tax rate of 26.5% includes income tax benefits of $10.5 million primarily from the permanent reenactment of the U.S. Federal R&D Tax Credit (the "R&D tax credit") in December 2015, finalizing the fiscal 2015 tax returns and other discrete items. The reenactment of the R&D tax credit was retroactive to January 1, 2015, and eliminates the yearly uncertainty surrounding the extension of the credit. | ||||||||
[4] | The fiscal 2015 effective tax rate of 27.8% includes income tax benefits of $8.8 million primarily from the reenactment of the R&D tax credit in December 2014, finalizing the fiscal 2014 tax returns and other discrete items. |
Note 17 - Income Taxes - Signif
Note 17 - Income Taxes - Significant Components of Deferred Tax Assets (Details) - USD ($) $ in Thousands | Aug. 31, 2017 | Aug. 31, 2016 |
Receivable reserve | $ 811 | $ 531 |
Deferred rent | 1,321 | 1,022 |
Other | 536 | 1,605 |
Net current deferred tax assets | 2,668 | 3,158 |
Depreciation on property, equipment and leasehold improvements | 2,220 | 5,194 |
Deferred rent | 10,294 | 9,626 |
Stock-based compensation | 20,117 | 19,927 |
Purchased intangible assets, including acquired technology | (32,742) | (24,645) |
Other | 7,523 | 3,304 |
Net non-current deferred tax assets | 7,412 | 13,406 |
Total deferred tax assets | 10,080 | 16,564 |
Other | 2,382 | 291 |
Net current deferred tax liabilities | 2,382 | 291 |
Stock-based compensation | (815) | |
Purchased intangible assets, including acquired technology | 26,231 | 1,666 |
Other | (524) | 42 |
Net non-current deferred tax liabilities | 24,892 | 1,708 |
Total deferred tax liabilities | $ 27,274 | $ 1,999 |
Note 17 - Income Taxes - Reconc
Note 17 - Income Taxes - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Aug. 31, 2017 | Aug. 31, 2016 | Aug. 31, 2015 | |
Unrecognized income tax benefits | $ 8,782 | $ 6,776 | $ 5,501 |
Additions based on tax positions related to the current year | 3,896 | 1,779 | 962 |
Additions for tax positions of prior years | 628 | 1,436 | 1,122 |
Statute of limitations lapse | (1,822) | (1,209) | (809) |
Unrecognized income tax benefits | $ 11,484 | $ 8,782 | $ 6,776 |
Note 17 - Income Taxes - Major
Note 17 - Income Taxes - Major Tax Jurisdictions in Which the Company and Affiliates Operate and the Earliest Tax Year Subject to Examination (Details) | 12 Months Ended |
Aug. 31, 2017 | |
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Earliest Tax Year [Member] | Minimum [Member] | |
Open tax year | 2,014 |
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Earliest Tax Year [Member] | Maximum [Member] | |
Open tax year | 2,017 |
State and Local Jurisdiction [Member] | Earliest Tax Year [Member] | Minimum [Member] | |
Open tax year | 2,010 |
State and Local Jurisdiction [Member] | Earliest Tax Year [Member] | Maximum [Member] | |
Open tax year | 2,017 |
Foreign Tax Authority [Member] | Her Majesty's Revenue and Customs (HMRC) [Member] | Earliest Tax Year [Member] | Minimum [Member] | |
Open tax year | 2,014 |
Foreign Tax Authority [Member] | Her Majesty's Revenue and Customs (HMRC) [Member] | Earliest Tax Year [Member] | Maximum [Member] | |
Open tax year | 2,017 |
Foreign Tax Authority [Member] | Ministry of the Economy, Finance and Industry, France [Member] | Earliest Tax Year [Member] | Minimum [Member] | |
Open tax year | 2,016 |
Foreign Tax Authority [Member] | Ministry of the Economy, Finance and Industry, France [Member] | Earliest Tax Year [Member] | Maximum [Member] | |
Open tax year | 2,017 |
Foreign Tax Authority [Member] | Federal Ministry of Finance, Germany [Member] | Maximum [Member] | |
Open tax year | 2,017 |
Note 18 - Debt (Details Textual
Note 18 - Debt (Details Textual) - USD ($) $ in Thousands | Mar. 17, 2017 | Aug. 31, 2017 | Aug. 31, 2016 | Aug. 31, 2015 |
Interest Paid | $ 8,400 | $ 3,100 | ||
Payments of Debt Issuance Costs | $ 438 | $ 12 | $ 32 | |
London Interbank Offered Rate (LIBOR) [Member] | ||||
Debt Instrument, Basis Spread on Variable Rate | 1.00% | |||
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 | |||
Line of Credit Facility, Commitment Fee Amount | 0 | |||
Payments of Debt Issuance Costs | $ 400 | |||
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 18 - Debt - Debt Obligatio
Note 18 - Debt - Debt Obligations (Details) - USD ($) $ in Thousands | Aug. 31, 2017 | Aug. 31, 2016 |
Total Outstanding Debt | $ 575,000 | $ 300,000 |
The 2017 Revolving Credit Facility [Member] | ||
Total Outstanding Debt | 575,000 | |
The 2015 Revolving Credit Facility [Member] | ||
Total Outstanding Debt | $ 300,000 |
Note 19 - Commitments and Con99
Note 19 - Commitments and Contingencies (Details Textual) $ in Thousands | 12 Months Ended | ||
Aug. 31, 2017USD ($)ft² | Aug. 31, 2016USD ($) | Aug. 31, 2015USD ($) | |
Operating Leases, Rent Expense | $ 48,400 | $ 43,200 | $ 38,600 |
Other Liabilities, Noncurrent | 37,188 | 33,080 | |
Letters of Credit Outstanding, Amount | 1,900 | ||
Purchase Commitment, Remaining Minimum Amount Committed | 81,000 | 67,500 | |
Deferred Rent [Member] | |||
Other Liabilities | 37,400 | 34,400 | |
Other Liabilities, Noncurrent | $ 33,500 | $ 31,200 | |
Non-cancelable Operating Lease [Member] | |||
Area of Real Estate Property | ft² | 1,143,000 |
Note 19 - Commitments and Co100
Note 19 - Commitments and Contingencies - Future Minimum Lease Commitments (Details) $ in Thousands | Aug. 31, 2017USD ($) |
2,018 | $ 38,056 |
2,019 | 35,627 |
2,020 | 27,834 |
2,021 | 20,836 |
2,022 | 20,215 |
Thereafter | 139,099 |
Total | $ 281,667 |
Note 20 - Risks and Concentr101
Note 20 - Risks and Concentrations of Credit Risk (Details Textual) - USD ($) | 12 Months Ended | |
Aug. 31, 2017 | Aug. 31, 2016 | |
Investments and Cash | $ 227,200,000 | |
Long-term Debt, Fair Value | 575,000,000 | |
Allowance for Doubtful Accounts Receivable | $ 2,700,000 | $ 1,500,000 |
Subscription Revenue [Member] | ||
Concentration Risk, Percentage | 2.00% | |
Revolving Credit Facility [Member] | The Loan [Member] | ||
Interest Expense, Debt | $ 8,400,000 | $ 3,100,000 |
Hypothetical Basis Point Change, LIBOR Rate | 0.25% | |
Change in Annual Interest Expense | $ 1,400,000 | |
London Interbank Offered Rate (LIBOR) [Member] | ||
Debt Instrument, Basis Spread on Variable Rate | 1.00% |
Note 21 - Unaudited Quarterl102
Note 21 - Unaudited Quarterly Financial Data - Unaudited Quarterly Results (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||
Aug. 31, 2017 | May 31, 2017 | Feb. 28, 2017 | Nov. 30, 2016 | Aug. 31, 2016 | May 31, 2016 | Feb. 28, 2016 | Nov. 30, 2015 | Aug. 31, 2017 | Aug. 31, 2016 | Aug. 31, 2015 | ||||||||||||
Revenues | $ 326,642 | $ 312,120 | $ 294,354 | $ 288,063 | $ 287,291 | $ 287,501 | $ 281,796 | $ 270,504 | $ 1,221,179 | [1] | $ 1,127,092 | [1] | $ 1,006,768 | [1] | ||||||||
Cost of services | 161,269 | 146,426 | 131,635 | 127,250 | 124,160 | 124,602 | 123,911 | 114,736 | 566,580 | 487,409 | 405,339 | |||||||||||
Selling, general and administrative | 82,945 | 78,052 | 70,973 | 70,494 | 75,397 | 73,609 | 72,541 | 68,460 | 302,464 | 290,007 | 269,511 | |||||||||||
Operating income | 82,428 | 87,642 | 91,746 | 90,319 | 87,734 | 89,290 | 85,344 | 87,308 | 352,135 | 349,676 | 331,918 | |||||||||||
Net income | $ 59,552 | $ 65,414 | $ 66,710 | $ 66,583 | $ 144,306 | $ 66,781 | $ 67,763 | $ 59,965 | $ 258,259 | $ 338,815 | $ 241,051 | |||||||||||
Diluted earnings per common share(1) (in dollars per share) | $ 1.52 | [2] | $ 1.66 | [2] | $ 1.68 | [2] | $ 1.66 | [2] | $ 3.55 | [2] | $ 1.62 | [2] | $ 1.63 | [2] | $ 1.43 | [2] | $ 6.51 | $ 8.19 | $ 5.71 | |||
Weighted average common shares (diluted) (in shares) | 39,281 | 39,457 | 39,700 | 40,100 | 40,673 | 41,189 | 41,536 | 42,063 | 39,642 | 41,365 | 42,235 | |||||||||||
[1] | Revenues are attributed to countries based on the location of the client. | |||||||||||||||||||||
[2] | Diluted earnings per common share is calculated independently for each of the periods presented. Accordingly, the sum of the quarterly EPS amounts may not equal the total for the fiscal year. |
Schedule II - Valuation and 103
Schedule II - Valuation and Qualifying Accounts - Allowance for Trade Receivables (Details) - USD ($) | 12 Months Ended | ||
Aug. 31, 2017 | Aug. 31, 2016 | Aug. 31, 2015 | |
Balance at Beginning of Year | $ 1,521 | $ 1,580 | $ 1,662 |
Charged to Expense/Against Revenue | 3,381 | 1,917 | 2,268 |
Write-offs, Net of Recoveries | 2,164 | 1,976 | 2,350 |
Balance at End of Year | $ 2,738 | $ 1,521 | $ 1,580 |