Acuity Brands (AYI) 10-K 23 Oct 20 2020 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2020	Oct. 20, 2020	Feb. 29, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Aug. 31, 2020
Document Transition Report	false
Entity Registrant Name	ACUITY BRANDS, INC
Entity Incorporation, State or Country Code	DE
Entity Public Float			$ 3,570
Entity File Number	001-16583
Entity Tax Identification Number	58-2632672
Entity Address, Address Line One	1170 Peachtree Street, N.E.
Entity Address, Address Line Two	Suite 2300
Entity Address, City or Town	Atlanta
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30309
City Area Code	404
Local Phone Number	853-1400
Title of 12(b) Security	Common stock, $0.01 par value per share
Trading Symbol	AYI
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		37,421,813
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Location in Form 10-K Incorporated Document Part II, Item 5; Part III, Items 10, 11, 12, 13, and 14 Proxy Statement for 2020 Annual Meeting of Stockholders
Entity Central Index Key	0001144215
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--08-31

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Aug. 31, 2020	Aug. 31, 2019
Current assets:
Cash and cash equivalents	$ 560.7	$ 461
Accounts receivable, less reserve for doubtful accounts of $2.6 and $1.0, respectively	500.3	561
Inventories	320.1	340.8
Prepayments and other current assets	58.6	79
Total current assets	1,439.7	1,441.8
Property, plant, and equipment, net	270.5	277.3
Operating lease right-of-use assets	63.4
Goodwill	1,080	967.3
Intangible assets, net	605.9	466
Deferred income taxes	2.7	2.3
Other long-term assets	29.5	17.7
Total assets	3,491.7	3,172.4
Current liabilities:
Accounts payable	326.5	338.8
Current maturities of debt	24.3	9.1
Current operating lease liabilities	17.2
Accrued compensation	85.4	73.2
Other accrued liabilities	164.2	175
Total current liabilities	617.6	596.1
Long-term debt	376.8	347.5
Long-term operating lease liabilities	56.8
Accrued pension liabilities	91.6	99.7
Deferred income taxes	94.9	92.7
Self-insurance liabilities	6.5	6.8
Other long-term liabilities	120	110.7
Total liabilities	1,364.2	1,253.5
Commitments and Contingencies
Stockholders’ equity:
Preferred stock, $0.01 par value; 50,000,000 shares authorized; none issued	0	0
Common stock, $0.01 par value; 500,000,000 shares authorized; 53,885,165 and 53,778,155 issued, respectively	0.5	0.5
Paid-in capital	963.6	930
Retained earnings	2,523.3	2,295.8
Accumulated other comprehensive loss	(132.7)	(151.4)
Treasury stock, at cost — 15,012,449 and 14,325,197 shares, respectively	(1,227.2)	(1,156)
Total stockholders’ equity	2,127.5	1,918.9
Total liabilities and stockholders’ equity	$ 3,491.7	$ 3,172.4

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Aug. 31, 2020	Aug. 31, 2019
Current assets:
Allowance for doubtful accounts	$ 2.6	$ 1
Stockholders’ equity:
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, issued (in shares)	53,885,165	53,778,155
Treasury stock (in shares)	15,012,449	14,325,197

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2018
Income Statement [Abstract]
Net sales	$ 3,326.3	$ 3,672.7	$ 3,680.1
Cost of products sold	1,923.9	2,193	2,194.7
Gross profit	1,402.4	1,479.7	1,485.4
Selling, distribution, and administrative expenses	1,028.5	1,015	1,019
Special charges	20	1.8	5.6
Operating profit	353.9	462.9	460.8
Other expense:
Interest expense, net	23.3	33.3	33.5
Miscellaneous expense, net	5.9	4.7	1.4
Total other expense	29.2	38	34.9
Income before income taxes	324.7	424.9	425.9
Income tax expense	76.4	94.5	76.3
Net income	$ 248.3	$ 330.4	$ 349.6
Earnings per share:
Basic earnings per share (in dollars per share)	$ 6.29	$ 8.32	$ 8.54
Basic weighted average number of shares outstanding (in shares)	39.5	39.7	40.9
Diluted earnings per share (in dollars per share)	$ 6.27	$ 8.29	$ 8.52
Diluted weighted average number of shares outstanding (in shares)	39.6	39.8	41
Dividends declared per share (in dollars per share)	$ 0.52	$ 0.52	$ 0.52
Comprehensive income:
Net income	$ 248.3	$ 330.4	$ 349.6
Other comprehensive income (loss) items:
Foreign currency translation adjustments	11.9	(11.5)	(25.2)
Defined benefit plans, net of tax	6.8	(25.1)	21.2
Other comprehensive income (loss) items, net of tax	18.7	(36.6)	(4)
Comprehensive income	$ 267	$ 293.8	$ 345.6

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2018
Cash flows from operating activities:
Net income	$ 248.3	$ 330.4	$ 349.6
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization	101.1	88.3	80.3
Share-based payment expense	38.2	29.2	32.3
Loss on the sale or disposal of property, plant, and equipment	0.3	0.9	0.6
Asset impairments	8.8	0	0
Deferred income taxes	(6.7)	9.3	(38.2)
Gain on sale of business	0	0	(5.4)
Accounts receivable	74.5	97.7	(62.8)
Inventories	38	70.8	(74.4)
Prepayments and other current assets	12.9	(34)	0.7
Accounts payable	(19.6)	(111.5)	52.5
Other	9	13.6	16.3
Net cash provided by operating activities	504.8	494.7	351.5
Cash flows from investing activities:
Purchases of property, plant, and equipment	(54.9)	(53)	(43.6)
Proceeds from sale of property, plant, and equipment	0.2	0	0
Acquisition of businesses, net of cash acquired	(303)	(2.9)	(163.2)
Proceeds from sale of business	0	0	1.1
Other investing activities	(2.1)	2.9	1.7
Net cash used for investing activities	(359.8)	(53)	(204)
Cash flows from financing activities:
Borrowings on credit facility	400	86.5	395.4
Repayments of borrowings on credit facility	(5)	(86.5)	(395.4)
Repayments of long-term debt	(350.7)	(0.4)	(0.4)
Repurchases of common stock	(69.3)	(81.6)	(298.4)
Proceeds from stock option exercises and other	0.9	0.6	1.7
Payments of taxes withheld on net settlement of equity awards	(5.4)	(6)	(8.2)
Dividends paid	(20.8)	(20.8)	(21.4)
Net cash used for financing activities	(50.3)	(108.2)	(326.7)
Effect of exchange rate changes on cash and cash equivalents	5	(1.6)	(2.8)
Net change in cash and cash equivalents	99.7	331.9	(182)
Cash and cash equivalents at beginning of year	461	129.1	311.1
Cash and cash equivalents at end of year	560.7	461	129.1
Supplemental cash flow information:
Income taxes paid	64.6	92.9	126.6
Interest paid	$ 29.8	$ 35.6	$ 36.7

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) shares in Millions, $ in Millions	Total	Amount	Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss Items	Treasury Stock, at cost	ASC 606 adjustments	ASC 606 adjustmentsRetained Earnings
Beginning balance at Aug. 31, 2017	$ 1,665.6	$ 0.5	$ 881	$ 1,659.9	$ (99.7)	$ (776.1)
Beginning balance (in shares) at Aug. 31, 2017		41.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	349.6			349.6
Other comprehensive income (loss)	(4)				(4)
Reclassification of stranded tax effects of the Tax Cuts and Jobs Act				11.1	(11.1)
Share-based payment amortization, issuances, and cancellations (in shares)		0.2
Share-based payment amortization, issuances, and cancellations	23.7		23.6			0.1
Employee stock purchase plan issuances	0.6		0.6
Cash dividends paid on common stock	(21.4)			(21.4)
Stock options exercised	1.1
Repurchases of common stock (in shares)		(2)
Repurchases of common stock	(298.4)					(298.4)
Ending balance at Aug. 31, 2018	1,716.8	$ 0.5	906.3	1,999.2	(114.8)	(1,074.4)	$ (13)	$ (13)
Ending balance (in shares) at Aug. 31, 2018		40
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	330.4			330.4
Other comprehensive income (loss)	(36.6)				(36.6)
Share-based payment amortization, issuances, and cancellations (in shares)		0.2
Share-based payment amortization, issuances, and cancellations	23.1		23.1
Employee stock purchase plan issuances	0.6		0.6
Cash dividends paid on common stock	(20.8)			(20.8)
Repurchases of common stock (in shares)		(0.7)
Repurchases of common stock	(81.6)					(81.6)
Ending balance at Aug. 31, 2019	1,918.9	$ 0.5	930	2,295.8	(151.4)	(1,156)
Ending balance (in shares) at Aug. 31, 2019		39.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	248.3			248.3
Other comprehensive income (loss)	18.7				18.7
Share-based payment amortization, issuances, and cancellations (in shares)		0.1
Share-based payment amortization, issuances, and cancellations	32.7		32.7
Employee stock purchase plan issuances	0.8		0.8
Cash dividends paid on common stock	(20.8)			(20.8)
Stock options exercised	0.1		0.1
Repurchases of common stock (in shares)		(0.7)
Repurchases of common stock	(71.2)					(71.2)
Ending balance at Aug. 31, 2020	$ 2,127.5	$ 0.5	$ 963.6	$ 2,523.3	$ (132.7)	$ (1,227.2)
Ending balance (in shares) at Aug. 31, 2020		38.9

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2018
Statement of Stockholders' Equity [Abstract]
Cash dividends per share paid (in dollars per share)	$ 0.52	$ 0.52	$ 0.52
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201602Member	us-gaap:AccountingStandardsUpdate201409Member

Description of Business and Bas

Description of Business and Basis of Presentation	12 Months Ended
	Aug. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	Description of Business and Basis of Presentation Acuity Brands, Inc. (“Acuity Brands”) is the parent company of Acuity Brands Lighting, Inc. (“ABL”) and other wholly-owned subsidiaries (Acuity Brands, ABL, and such other subsidiaries are collectively referred to herein as “we,” “our,” “us,” “the Company,” or similar references) and was incorporated in 2001 under the laws of the State of Delaware. We are a market-leading industrial technology company that develops, manufactures, and provides lighting and building technology solutions and services for commercial, institutional, industrial, infrastructure, and residential applications throughout North America and select international markets. Our lighting and building technology solutions include devices such as luminaires, lighting controls, controls for various building systems, power supplies, prismatic skylights, and drivers, as well as integrated systems designed to optimize energy efficiency and comfort for various indoor and outdoor applications. Additionally, we continue to evolve Atrius as the intelligent building platform upon which a host of problem-solving applications can be deployed. Our solution, built on our local operating system, delivers increased efficiency and productivity by solving facility, operational, and line of business problems through location awareness. We have one reportable segment serving the North American lighting market and select international markets. We have prepared the Consolidated Financial Statements

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Aug. 31, 2020
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Principles of Consolidation The Consolidated Financial Statements include the accounts of Acuity Brands and its wholly-owned subsidiaries after elimination of intercompany transactions and accounts. Revenue Recognition We recognize revenue when we transfer control of goods and services to our customers. Revenue is measured as the amount of consideration we expect to receive in exchange for goods and services and is recognized net of allowances for rebates, sales incentives, product returns, service-type warranties, and discounts to customers. Please refer to the Revenue Recognition footnote of the Notes to Consolidated Financial Statements for additional information. Use of Estimates The preparation of financial statements and related disclosures in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expense during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents Cash in excess of daily requirements is invested in time deposits and marketable securities and is included in the accompanying balance sheets at fair value. We consider time deposits and marketable securities with an original maturity of three months or less when purchased to be cash equivalents. Accounts Receivable We record accounts receivable at net realizable value. This value includes a reserve for doubtful accounts to reflect losses anticipated on accounts receivable balances. The allowance is based on historical write-offs, an analysis of past due accounts based on the contractual terms of the receivables, and the economic status of customers, if known. We believe that the allowance is sufficient to cover uncollectible amounts; however, there can be no assurance that unanticipated future business conditions of customers will not have a negative impact on our results of operations. Prior to the adoption of the new revenue accounting standard Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers (“ASC 606”) on September 1, 2018 , we recorded reserves for product returns, cash discounts, and other deductions due to customers as a reduction to our outstanding receivables. As of September 1, 2019, we had a total reserve balance of $23.4 million . Since the adoption of ASC 606, estimated liabilities for returns, cash discounts, and other deductions are reflected within Other current liabilities within our Consolidated Balance Sheets rather than as reductions to our trade receivables. Refer to the Revenue Recognition footnote for additional information. Concentrations of Credit Risk Concentrations of credit risk with respect to receivables, which are typically unsecured, are generally limited due to the wide variety of customers and markets using our lighting and building technology solutions as well as their dispersion across many different geographic areas. One customer accounted for approximately 10% of receivables at August 31, 2020 , 2019 , and 2018 . No single customer accounted for more than 10% of net sales in fiscal 2020 , 2019 , or 2018 . Reclassifications Certain prior-period amounts have been reclassified to conform to the current year presentation. No material reclassifications occurred during the current period. Subsequent Events We have evaluated subsequent events for recognition and disclosure for occurrences and transactions after the date of the consolidated financial statements as of August 31, 2020 . See Subsequent Event footnote for additional details. Inventories Inventories include materials, direct labor, inbound freight, and related manufacturing overhead, are stated at the lower of cost (on a first-in, first-out or average cost basis) and net realizable value, and consist of the following as of the dates presented (in millions): August 31, 2020 2019 Raw materials, supplies, and work in process (1) $ 170.3 $ 179.4 Finished goods 199.1 183.7 Inventories excluding reserves 369.4 363.1 Less: Reserves (49.3 ) (22.3 ) Total inventories $ 320.1 $ 340.8 _______________________________________ (1) Due to the immaterial amount of estimated work in process and the short lead times for the conversion of raw materials to finished goods, we do not believe the segregation of raw materials and work in process is meaningful information. We review inventory quantities on hand and record a provision for excess or obsolete inventory primarily based on estimated future demand and current market conditions. A significant change in customer demand or market conditions could render certain inventory obsolete and could have a material adverse impact on our operating results in the period the change occurs. Assets Held for Sale We classify assets as held for sale upon the development and approval of a plan for disposal, when the sale of the asset is probable, and transfer of the asset is expected to be completed within one year. We cease the depreciation and amortization of the assets at the date of approval. During the year ended August 31, 2020 , we classified three buildings as held for sale with a total carrying value of $4.1 million , within Prepayments and other current assets on the Consolidated Balance Sheets . We did not have any assets classified as held for sale as of August 31, 2019 . We concluded the carrying value of these assets approximated or exceeded their fair values less costs to sell. Goodwill and Other Intangibles Goodwill amounted to $1.1 billion and $967.3 million as of August 31, 2020 and 2019 , respectively. The changes in the carrying amount of goodwill during the periods presented are summarized as follows (in millions): Carrying Amount Balance, August 31, 2018 $ 970.6 Additions from an acquired business 2.0 Adjustments to provisional amounts from acquired businesses (0.2 ) Foreign currency translation adjustments (5.1 ) Balance, August 31, 2019 967.3 Additions from acquired businesses 147.8 Adjustments to provisional amounts from acquired businesses (41.5 ) Foreign currency translation adjustments 6.4 Balance as of August 31, 2020 $ 1,080.0 Summarized information for our acquired intangible assets is as follows as of the dates presented (in millions except amortization periods): August 31, 2020 2019 Weighted Average Amortization Period in Years Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Definite-lived intangible assets: Patents and patented technology 11 $ 163.6 $ (89.5 ) $ 135.7 $ (72.9 ) Trademarks and trade names 24 27.2 (15.8 ) 27.2 (14.5 ) Distribution network 28 61.8 (42.8 ) 61.8 (39.7 ) Customer relationships 20 421.4 (94.3 ) 299.2 (72.1 ) Total definite-lived intangible assets 19 $ 674.0 $ (242.4 ) $ 523.9 $ (199.2 ) Indefinite-lived trade names $ 174.3 $ 141.3 Through multiple acquisitions, we acquired definite-lived intangible assets consisting primarily of trademarks and trade names associated with specific products, distribution networks, patented technology, non-compete agreements, and customer relationships, which are amortized over their estimated useful lives. Indefinite-lived intangible assets consist of trade names that are expected to generate cash flows indefinitely. Significant estimates and assumptions were used to determine the initial fair value of these acquired intangible assets, including estimated future short-term and long-term net sales and profitability, customer attrition rates, royalty rates, and discount rates. Certain of our intangible assets are attributable to foreign operations and are impacted by currency translation due to movements in foreign currency rates year over year. We recorded amortization expense of $41.7 million , $30.8 million , and $28.5 million related to acquired intangible assets during fiscal 2020 , 2019 , and 2018 , respectively. Amortization expense is generally recorded on a straight-line basis and is expected to be approximately $40.7 million in fiscal 2021 , $40.6 million in fiscal 2022 , $40.3 million in fiscal 2023 , $40.1 million in fiscal 2024 , and $33.3 million in fiscal 2025 . We test goodwill and indefinite-lived intangible assets for impairment on an annual basis or more frequently as facts and circumstances change, as required by ASC Topic 350, Intangibles — Goodwill and Other (“ASC 350”). ASC 350 allows for an optional qualitative analysis for goodwill to determine the likelihood of impairment. If the qualitative review results in a more likely than not probability of impairment, a quantitative analysis is required. The qualitative step may be bypassed entirely in favor of a quantitative test. The quantitative analysis identifies impairments by comparing the fair value of a reporting unit with its carrying value, including goodwill. The fair values can be determined based on a combination of valuation techniques including the expected present value of future cash flows, a market multiple approach, and a comparable transaction approach. If the fair value of a reporting unit exceeds its carrying value, goodwill is not considered impaired. Conversely, if the carrying value of a reporting unit exceeds its fair value, an impairment charge for the difference is recorded. In fiscal 2020 , we used a quantitative analysis based on discounted future cash flows to determine the likelihood of impairment for our one reporting unit. In fiscal 2019 and 2018 , we used a qualitative fair value analysis to determine the likelihood of goodwill impairment. The analysis for goodwill did not result in an impairment charge during fiscal 2020 , 2019 , or 2018 . The impairment test for indefinite-lived trade names consists of comparing the fair value of a trade name with its carrying value. If the carrying amount exceeds the estimated fair value, an impairment loss would be recorded in the amount of the excess. We estimate the fair value of indefinite-lived trade names using a fair value model based on discounted future cash flows. Significant assumptions, including estimated future net sales, royalty rates, and discount rates, are used in the determination of estimated fair value for indefinite-lived trade names. Based on the results of the indefinite-lived intangible asset analyses for fiscal 2020 , we recorded an impairment charge of $1.4 million related to one trade name in Selling, distribution, and administrative expenses in the Consolidated Statements of Comprehensive Income. The impairment analyses of the other 12 indefinite-lived intangible assets indicated that their fair values exceeded their carrying values. Any reasonably likely change in the assumptions used in the analyses for our trade names would not be material to our financial condition or results of operations. Short-term growth rates used in the fiscal 2020 our impairment analyses reflected additional estimation uncertainty as a result of the COVID-19 pandemic. Based on the results of the indefinite-lived intangible asset analyses performed in fiscal 2019 and 2018 , we concluded that our analyses supported the indefinite-lived trade names' values; therefore, no impairment charges were recorded during those periods. Other Long-Term Assets Other long-term assets consist of the following as of the dates presented (in millions): August 31, 2020 2019 Deferred contract costs $ 12.3 $ 15.4 Investments in unconsolidated affiliates (1) 6.0 — Tax credits (2) 8.6 — Other (3) 2.6 2.3 Total other long-term assets $ 29.5 $ 17.7 _______________________________________ (1) We hold equity investments in two unconsolidated affiliates. These strategic investments represent less than a 20% ownership interest in each of the privately-held affiliates, and we do not maintain power over or control of the entities. We measure these investments at cost less any impairment adjusted for observable price changes, if any. (2) Amount represents research and development tax credit receivables related to certain amended prior year tax returns. (3) Amounts primarily include deferred debt issuance costs related to our credit facilities and company-owned life insurance investments. We maintain life insurance policies on 64 former employees primarily to satisfy obligations under certain deferred compensation plans. These company-owned life insurance policies are presented net of loans that are secured by these policies. This program is frozen, and no new policies were issued in the three-year period ended August 31, 2020 . Other Long-Term Liabilities Other long-term liabilities consist of the following as of the dates presented (in millions): August 31, 2020 2019 Deferred compensation and postretirement benefits other than pensions (1) $ 42.7 $ 41.6 Service-type warranties 55.8 46.3 Unrecognized tax position liabilities, including interest (2) 18.9 17.6 Other (3) 2.6 5.2 Total other long-term liabilities $ 120.0 $ 110.7 ____________________________________ (1) We maintain several non-qualified retirement plans for the benefit of eligible employees, primarily deferred compensation plans. The deferred compensation plans provide for elective deferrals of an eligible employee’s compensation and, in some cases, matching contributions by the organization. In addition, one plan provides an automatic contribution of 3% of an eligible employee’s compensation. We maintain life insurance policies on certain former officers and other key employees as a means of satisfying a portion of these obligations. (2) See the Income Taxes footnote for more information. (3) Amount primarily includes fees owed for licensing certain intellectual property. Shipping and Handling Fees and Costs We include shipping and handling fees billed to customers in Net sales in the Consolidated Statements of Comprehensive Income . Shipping and handling costs associated with inbound freight and freight between manufacturing facilities and distribution centers are generally recorded in Cost of products sold in the Consolidated Statements of Comprehensive Income . Other shipping and handling costs are included in Selling, distribution, and administrative expenses in the Consolidated Statements of Comprehensive Income and totaled $121.9 million , $138.4 million , and $154.9 million in fiscal 2020 , 2019 , and 2018 , respectively. Share-based Payments We recognize compensation cost relating to share-based payment transactions in the financial statements based on the estimated grant date fair value of the equity instrument issued. We account for stock options, restricted shares, performance units, and share units representing certain deferrals into the Nonemployee Director Deferred Compensation Plan (the “Director Plan”) or the Supplemental Deferred Savings Plan (“SDSP”) (both of which are discussed further in the Share-based Payments footnote) based on the grant-date fair value estimated under the current provisions of ASC Topic 718, Compensation — Stock Compensation (“ASC 718”). Share-based payment expense includes expense related to restricted stock, performance units, options issued, and share units deferred into the Director Plan. We recorded $38.2 million , $29.2 million , and $32.3 million of share-based payment expense for the years ended August 31, 2020 , 2019 , and 2018 , respectively. The total income tax benefit recognized for share-based payment expense was $6.6 million , $6.5 million , and $8.4 million for the years ended August 31, 2020 , 2019 , and 2018 , respectively. We account for any awards with graded vesting on a straight-line basis. Additionally, forfeitures of share-based awards are estimated based on historical experience at the time of grant and are revised in subsequent periods if actual forfeitures differ from initial estimates. We did not capitalize any expense related to share-based payments and have recorded share-based payment expense, net of estimated forfeitures, in Selling, distribution, and administrative expenses in the Consolidated Statements of Comprehensive Income . Excess tax benefits and/or expense related to share-based payment awards are reported within Income tax expense on the Consolidated Statements of Comprehensive Income . We recognized net excess tax expense related to share-based payment cost of $1.4 million , $1.6 million , and $0.8 million for the years ended August 31, 2020 , 2019 , and 2018 , respectively. See the Share-based Payments footnote of the Notes to Consolidated Financial Statements for more information. Property, Plant, and Equipment Property, plant, and equipment is initially recorded at cost and depreciated principally on a straight-line basis using estimated useful lives of plant and equipment ( 10 to 40 years for buildings and related improvements and 3 to 15 years for machinery and equipment) for financial reporting purposes. Accelerated depreciation methods are used for income tax purposes. Leasehold improvements are amortized over the shorter of the life of the lease or the estimated useful life of the improvement. Depreciation expense amounted to $59.4 million , $57.5 million , and $51.8 million during fiscal 2020 , 2019 , and 2018 , respectively. The balance in property, plant, and equipment consisted of the following as of the dates presented (in millions): August 31, 2020 2019 Land $ 22.2 $ 22.6 Buildings and leasehold improvements 192.2 190.7 Machinery and equipment 588.4 544.4 Total property, plant, and equipment, at cost 802.8 757.7 Less: Accumulated depreciation and amortization (532.3 ) (480.4 ) Property, plant, and equipment, net $ 270.5 $ 277.3 Research and Development Research and development (“R&D”) expense, which is expensed as incurred, consists of compensation, payroll taxes, employee benefits, materials, supplies, and other administrative costs. R&D does not include all new product development costs and is included in Selling, distribution, and administrative expenses in our Consolidated Statements of Comprehensive Income . R&D expense amounted to $82.0 million , $74.7 million , and $63.9 million during fiscal 2020 , 2019 , and 2018 , respectively. Advertising Advertising costs are expensed as incurred and are included within Selling, distribution, and administrative expenses in our Consolidated Statements of Comprehensive Income . These costs totaled $15.1 million , $18.5 million , and $20.6 million during fiscal 2020 , 2019 , and 2018 , respectively. Interest Expense, Net Interest expense, net , is comprised primarily of interest expense on long-term debt, obligations in connection with non-qualified retirement benefits, and line of credit borrowings, partially offset by interest income earned on cash and cash equivalents. The following table summarizes the components of interest expense, net during the periods presented (in millions): Year Ended August 31, 2020 2019 2018 Interest expense $ 26.4 $ 36.4 $ 35.5 Interest income (3.1 ) (3.1 ) (2.0 ) Interest expense, net $ 23.3 $ 33.3 $ 33.5 Miscellaneous Expense, Net Miscellaneous expense, net , is comprised primarily of non-service related components of net periodic pension cost, gains or losses on foreign currency items, and other non-operating items. Gains or losses relating to foreign currency items consisted of net expense of $5.9 million in fiscal 2020 , net gains of $0.6 million in fiscal 2019 , and net gains of $0.1 million in fiscal 2018 . During fiscal 2018 , we recognized a $5.4 million gain on the sale of a foreign domiciled business, which included the reclassification of $8.7 million in accumulated foreign currency gains from Accumulated other comprehensive loss. Income Taxes We are taxed at statutory corporate rates after adjusting income reported for financial statement purposes for certain items that are treated differently for income tax purposes. Deferred income tax expenses or benefits result from changes during the year in cumulative temporary differences between the tax basis and book basis of assets and liabilities. Foreign Currency Translation The functional currency for foreign operations is generally the local currency where the foreign operations are domiciled. The translation of foreign currencies into U.S. dollars is performed for balance sheet accounts using exchange rates in effect at the balance sheet dates and for revenue and expense accounts using a weighted average exchange rate each month during the year. The gains or losses resulting from the balance sheet translation are included in Foreign currency translation adjustments in the Consolidated Statements of Comprehensive Income and are excluded from net income. Comprehensive Income Comprehensive income represents a measure of all changes in equity that result from recognized transactions and other economic events other than transactions with owners in their capacity as owners. Other comprehensive income (loss) includes foreign currency translation and pension adjustments. The following table presents the changes in each component of accumulated other comprehensive loss net of tax during the periods presented (in millions): Foreign Currency Items Defined Benefit Pension Plans Accumulated Other Comprehensive Loss Items Balance as of August 31, 2018 $ (53.9 ) $ (60.9 ) $ (114.8 ) Other comprehensive loss before reclassifications (11.5 ) (31.1 ) (42.6 ) Amounts reclassified from accumulated other comprehensive loss (1) — 6.0 6.0 Net current period other comprehensive loss (11.5 ) (25.1 ) (36.6 ) Balance as of August 31, 2019 (65.4 ) (86.0 ) (151.4 ) Other comprehensive income (loss) before reclassifications 11.9 (0.6 ) 11.3 Amounts reclassified from accumulated other comprehensive loss (1) — 7.4 7.4 Net current period other comprehensive income 11.9 6.8 18.7 Balance at August 31, 2020 $ (53.5 ) $ (79.2 ) $ (132.7 ) _______________________________________ (1) The before tax amounts of the defined benefit pension plan items are included in net periodic pension cost. See the Pension and Defined Contribution Plans footnote for additional details. The following table presents the tax expense or benefit allocated to each component of other comprehensive income (loss) during the periods presented (in millions): Year Ended August 31, 2020 2019 2018 Before Tax Amount Tax (Expense) or Benefit Net of Tax Amount Before Tax Amount Tax (Expense) or Benefit Net of Tax Amount Before Tax Amount Tax (Expense) or Benefit Net of Tax Amount Foreign currency translation adjustments $ 11.9 $ — $ 11.9 $ (11.5 ) $ — $ (11.5 ) $ (25.2 ) $ — $ (25.2 ) Defined benefit pension plans: Actuarial (losses) gains (0.7 ) 0.1 (0.6 ) (40.8 ) 9.7 (31.1 ) 18.4 (4.4 ) 14.0 Amortization of defined benefit pension items: Prior service cost 4.0 (0.9 ) 3.1 3.5 (0.9 ) 2.6 3.1 (0.7 ) 2.4 Actuarial losses 5.6 (1.3 ) 4.3 4.1 (1.0 ) 3.1 6.8 (2.0 ) 4.8 Settlement losses — — — 0.4 (0.1 ) 0.3 — — — Total defined benefit plans, net 8.9 (2.1 ) 6.8 (32.8 ) 7.7 (25.1 ) 28.3 (7.1 ) 21.2 Other comprehensive income (loss) $ 20.8 $ (2.1 ) $ 18.7 $ (44.3 ) $ 7.7 $ (36.6 ) $ 3.1 $ (7.1 ) $ (4.0 )

New Accounting Pronouncements

New Accounting Pronouncements	12 Months Ended
	Aug. 31, 2020
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements Accounting Standards Adopted in Fiscal 2020 ASC 842 — Leases (“ASC 842”) In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, Leases (“ASU 2016-02”), which requires lessees to include most leases on the balance sheet as lease liabilities with an associated right-of-use (“ROU”) asset. Since the issuance of ASU 2016-02, the FASB released several amendments to improve and clarify the implementation guidance, as well as to change the allowable adoption methods. These standards have been collectively codified within ASC 842, Leases . We adopted ASC 842 using the modified retrospective method and applied the standard to all leases existing as of September 1, 2019 . Information for prior years presented has not been restated and continues to reflect the authoritative accounting standards in effect for those periods. We elected the package of transition practical expedients that allows us to carryforward our historical assessments of whether existing contracts contain leases, determinations of lease classification, and treatments of initial direct costs. As of September 1, 2019 , we recognized total operating lease liabilities of $64.7 million in our Consolidated Balance Sheets , of which $49.3 million was recorded within Long-term operating lease liabilities and $15.4 million was recorded within Current operating lease liabilities . We additionally derecognized $5.1 million of previously recorded net deferred rent balances and recorded ROU assets of $59.6 million related to our operating leases, which were reflected within Operating lease right-of-use assets in our Consolidated Balance Sheets . ASU 2020-04 — Reference Rate Reform (Topic 848) In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848) (“ASU 2020-04”), which provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions affected by the discontinuation of the London Interbank Offered Rate (“LIBOR”) or by another reference rate expected to be discontinued. The amendments are effective for all entities as of March 12, 2020 and expire on December 31, 2022. The provisions of ASU 2020-04 did not have a material effect on our financial condition, results of operations, and cash flows as of August 31, 2020 . We will continue to monitor any impacts of the standard and reference rate reform on our financial instruments. Accounting Standards Yet to Be Adopted In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which simplifies the accounting for income taxes, eliminates certain exceptions within ASC 740, Income Taxes , and clarifies certain aspects of the current guidance to promote consistency among reporting entities. ASU 2019-12 is effective for fiscal years beginning after December 15, 2020. Most amendments within the standard are required to be applied on a prospective basis, while certain amendments must be applied on a retrospective or modified retrospective basis. We are currently evaluating the impacts of the provisions of ASU 2019-12 on our financial condition, results of operations, and cash flows. In August 2018, the FASB issued ASU No. 2018-15, Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract (“ASU 2018-15”), which will require customers to apply internal-use software guidance to determine the implementation costs that are able to be capitalized. Capitalized implementation costs will be required to be amortized over the term of the arrangement, beginning when the cloud computing arrangement is ready for its intended use. ASU 2018-15 is effective for fiscal years (and interim reporting periods within those years) beginning after December 15, 2019. The standard allows changes to be applied either retrospectively or prospectively. We will adopt the standard as required in fiscal 2021. The provisions of ASU 2018-15 are not expected to have a material effect on our financial condition, results of operations, or cash flows. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), which requires an entity to assess impairment of its financial instruments based on its estimate of expected credit losses. Since the issuance of ASU 2016-13, the FASB released several amendments to improve and clarify the implementation guidance. The provisions of ASU 2016-13 and the related amendments are effective for fiscal years (and interim reporting periods within those years) beginning after December 15, 2019. Entities are required to apply these changes through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. We have an implementation team tasked with reviewing our financial assets and determining the impact of the new standard to our financial statements. The team is also tasked with identifying appropriate changes to our business processes, systems, and controls to support recognition and disclosure under the new standard. The implementation team has completed its review of our current portfolio, which consists primarily of trade receivables, and has concluded that the application of the expected credit loss model will have an immaterial impact on our consolidated results of operations and financial position. Throughout the fiscal year, the implementation team reported its findings and progress of the project to management on a frequent basis and to the Audit Committee of the Board of Directors on a quarterly basis. All other newly issued accounting pronouncements not yet effective have been deemed either immaterial or not applicable.

Acquisitions

Acquisitions	12 Months Ended
	Aug. 31, 2020
Business Combinations [Abstract]
Acquisitions	Acquisitions The following discussion relates to acquisitions completed during fiscal 2020 , 2019 , and 2018 . Fiscal 2020 Acquisitions The Luminaires Group On September 17, 2019, using cash on hand and borrowings under available existing credit arrangements, we acquired all of the equity interests of The Luminaires Group (“TLG”), a leading provider of specification-grade luminaires for commercial, institutional, hospitality, and municipal markets, all of which complement our current and dynamic lighting portfolio. TLG’s indoor and outdoor lighting fixtures are marketed to architects, landscape architects, interior designers, and engineers through five niche lighting brands: A-light™, Cyclone™, Eureka ® , Luminaire LED™, and Luminis ® . LocusLabs, Inc. On November 25, 2019, using cash on hand, we acquired all of the equity interests of LocusLabs, Inc (“LocusLabs”). The LocusLabs software platform supports navigation applications used on mobile devices, web browsers, and digital displays in airports, event centers, multi-floor office buildings, and campuses. Accounting for Fiscal 2020 Acquisitions We accounted for the acquisitions of TLG and LocusLabs (collectively, the "2020 Acquisitions") in accordance with ASC 805 , Business Combinations ("ASC 805"). Acquired assets and liabilities were recoded at their estimated acquisition-date fair values, and acquisition-related costs were expensed as incurred. Preliminary amounts related to the acquisition accounting for the 2020 Acquisitions are reflected on the Consolidated Balance Sheets as of August 31, 2020 . The aggregate purchase price of these acquisitions reflects preliminary total goodwill and identified intangible assets of approximately $107.6 million and $180.6 million , respectively, as of August 31, 2020 . Identified intangible assets consist of indefinite-lived marketing-related intangibles as well as definite-lived customer-based and technology-based assets, which have a preliminary weighted average useful life of approximately 16 years . Goodwill recognized from these acquisitions is comprised primarily of expected benefits related to complementing and expanding our solutions portfolio, including dynamic lighting and software, as well as the trained workforce acquired with these businesses and expected synergies from combining the operations the acquired businesses with our operations. Goodwill from these acquisitions totaling $77.7 million is expected to be tax deductible. These amounts are deemed to be provisional until disclosed otherwise, as we continue to gather information related to the identification of other acquired assets and liabilities. These amounts may change as we finalize the allocations. The operating results of the acquisitions have been included in our consolidated financial statements since the date of acquisition and are not material to our financial condition, results of operations, or cash flows. Fiscal 2019 Acquisitions WhiteOptics, LLC On June 20, 2019, using cash on hand, we acquired all of the equity interests of WhiteOptics, LLC (“WhiteOptics”). WhiteOptics manufactures advanced optical components used to reflect, diffuse, and control light for light emitting diode (“LED”) lighting used in commercial and institutional applications. The operating results of WhiteOptics have been included in our consolidated financial statements since the date of acquisition and are not material to our financial condition, results of operations, or cash flows. Fiscal 2018 Acquisitions IOTA Engineering, LLC On May 1, 2018, using cash on hand and borrowings available under existing credit arrangements, we acquired all of the equity interests of IOTA Engineering, LLC (“IOTA”). IOTA manufactures highly engineered emergency lighting products and power equipment for commercial and institutional applications both in the U.S. and international markets. The operating results of IOTA have been included in our consolidated financial statements since the date of acquisition and are not material to our financial condition, results of operations, or cash flows. Lucid Design Group, Inc. On February 12, 2018, using cash on hand, we acquired all of the equity interests of Lucid Design Group, Inc (“Lucid”). Lucid provides a data and analytics platform to make data-driven decisions to improve building efficiency and drive energy conservation and savings. The operating results of Lucid have been included in our consolidated financial statements since the date of acquisition and are not material to our financial condition, results of operations, or cash flows. Accounting for 2019 and 2018 Acquisitions As of August 31, 2020 , we have finalized the acquisition accounting for IOTA, Lucid, and WhiteOptics in accordance with ASC 805. There were no material changes to our financial statements as a result of the finalization of the acquisition accounting.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Aug. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements We determine fair value measurements based on the assumptions a market participant would use in pricing an asset or liability. ASC Topic 820, Fair Value Measurements and Disclosures (“ASC 820”), establishes a three level hierarchy making a distinction between market participant assumptions based on (i) unadjusted quoted prices for identical assets or liabilities in an active market (Level 1), (ii) quoted prices in markets that are not active or inputs that are observable either directly or indirectly for substantially the full term of the asset or liability (Level 2), and (iii) prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement (Level 3). We utilize valuation methodologies to determine the fair values of our financial assets and liabilities in conformity with the concepts of “exit price” and the fair value hierarchy as prescribed in ASC 820. All valuation methods and assumptions are validated at least quarterly to ensure the accuracy and relevance of the fair values. There were no material changes to the valuation methods or assumptions used to determine fair values during the current period. We use quoted market prices to determine the fair value of Level 1 assets and liabilities. No transfers between the levels of the fair value hierarchy occurred during the current fiscal period. In the event of a transfer in or out of a level within the fair value hierarchy, the transfers would be recognized on the date of occurrence. Our cash and cash equivalents (Level 1), which are required to be carried at fair value and measured on a recurring basis, were $560.7 million and $461.0 million as of August 31, 2020 and 2019 , respectively. Disclosures of fair value information about financial instruments (whether or not recognized in the balance sheet), for which it is practicable to estimate that value, are required each reporting period in addition to any financial instruments carried at fair value on a recurring basis as prescribed by ASC Topic 825, Financial Instruments (“ASC 825”). In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. The carrying values and estimated fair values of certain financial instruments (Level 2) as of the dates presented were as follows (in millions): August 31, 2020 August 31, 2019 Carrying Value Fair Value Carrying Value Fair Value Assets: Investments in unconsolidated affiliates $ 6.0 $ 6.0 $ — $ — Liabilities: Senior unsecured public notes, net of unamortized discount and deferred costs $ — $ — $ 349.9 $ 352.7 Borrowings under Term Loan Facility 395.0 395.0 — — Industrial revenue bond 4.0 4.0 4.0 4.0 Bank loans 2.1 2.3 2.7 2.9 We hold equity investments in two unconsolidated affiliates without readily determinable fair value. These strategic investments represent less than a 20% ownership interest in each of the privately-held affiliates, and we do not maintain power over or control of the entities. We have elected the practical expedient in ASC 321, Investments—Equity Securities , to measure these investments at cost less any impairment adjusted for observable price changes, if any. Based on these considerations, we estimate that the historical cost of the acquired shares represents the fair value of the investment as of August 31, 2020. Borrowings under our unsecured delayed draw term loan facility (the “Term Loan Facility”) and the industrial revenue bond (“IRB”) are carried at the outstanding balance as of the end of the reporting period. The borrowings under the Term Loan Facility and the IRB are variable-rate instruments that reset on a frequent short-term basis; therefore, we estimate that the face amounts of these instruments approximate their fair values as of August 31, 2020 based on instruments of similar terms and maturity (Level 2). The bank loans are carried at the outstanding balance as of the end of the reporting period. Fair value is estimated based on discounted future cash flows using rates currently available for debt of similar terms and maturity (Level 2). See Note 7 — Debt and Lines of Credit for further details on our long-term borrowings. ASC 825 excludes certain financial instruments and all nonfinancial instruments from its disclosure requirements. Accordingly, the aggregate fair value amounts presented do not represent the underlying value to us. In many cases, the fair value estimates cannot be substantiated by comparison to independent markets, nor can the disclosed value be realized in immediate settlement of the instruments. In evaluating our management of liquidity and other risks, the fair values of all assets and liabilities should be taken into consideration, not only those presented above.

Leases

Leases	12 Months Ended
	Aug. 31, 2020
Leases [Abstract]
Leases	Leases We lease property and equipment under operating lease arrangements, most of which relate to distribution centers and manufacturing facilities in the U.S., Mexico, and Canada. We include both the contractual term as well as any renewal option that we are reasonably certain to exercise in the determination of our lease terms. For leases with a term of greater than 12 months, we value lease liabilities and the related assets as the present value of the lease payments over the related term. We apply the short-term lease exception to leases with a term of 12 months or less and exclude such leases from our Consolidated Balance Sheets . Payments related to these short-term leases are expensed on a straight-line basis over the lease term and reflected as a component of lease cost within our Consolidated Statements of Comprehensive Income . Lease payments generally consist of fixed amounts, and variable amounts based on a market rate or an index are not material to our consolidated lease cost. We have elected to use the practical expedient present in ASC 842 to not separate lease and non-lease components for all significant underlying asset classes and instead account for them together as a single lease component in the measurement of our lease liabilities. Our leases do not contain significant terms and conditions for variable lease payments. Generally, the rate implicit in our leases is not readily determinable. Therefore, we discount future lease payments using our estimated incremental borrowing rate at lease commencement. We determine this rate based on a credit-adjusted risk-free rate, which approximates a secured rate over the lease term. The weighted average discount rate for operating leases as of August 31, 2020 was 1.9% . The following table presents the future undiscounted payments due on our operating lease liabilities as well as a reconciliation of those payments to our operating lease liabilities recorded as of the date presented (in millions): Fiscal year August 31, 2020 2021 $ 18.5 2022 14.9 2023 12.3 2024 9.7 2025 9.0 Thereafter 14.4 Total undiscounted lease payments 78.8 Less: Discount due to interest (4.8 ) Present value of lease liabilities $ 74.0 The weighted average remaining lease term for our operating leases was six years as of August 31, 2020 . Lease cost is recorded within Cost of products sold or Selling, distribution, and administrative expenses in the Consolidated Statements of Comprehensive Income based on the primary use of the related ROU asset. The components of total lease cost were as follows during the period presented (in millions): Year Ended August 31, 2020 Operating lease cost $ 18.1 Variable lease cost 2.3 Short-term lease cost 2.8 Total lease cost $ 23.2 Prior to the adoption of ASC 842, we recognized rent expense of $22.6 million and $22.3 million during the years ended August 31, 2019 and 2018 , respectively. Cash paid for operating lease liabilities during the year ended August 31, 2020 was $18.7 million . ROU assets obtained in exchange for lease liabilities, including those obtained from recent acquisitions, during the year ended August 31, 2020 were $27.2 million . We do not have material leases that have not yet commenced as of August 31, 2020 that create significant rights and obligations. We have subleased certain properties. Lease income from these subleases is recognized in the Consolidated Statements of Comprehensive Income as it is earned and is not material to our consolidated results of operations. We do not have any other significant transactions in which we are the lessor. During fiscal 2020, we committed to plans to vacate certain leased properties, which indicated that it was more likely than not that the fair value of the related ROU assets were below their carrying values. We assessed the recoverability of these assets using an undiscounted cash flow model and concluded that the carrying values of the assets were not fully recoverable. We recorded impairment charges of $7.4 million related to these assets using a discounted cash flow model to estimate their fair values. The recoverability and impairment tests required significant assumptions including estimated future cash flows, the identification of assets within each asset group, and the determination of appropriate discount rates.

Debt and Lines of Credit

Debt and Lines of Credit	12 Months Ended
	Aug. 31, 2020
Debt Disclosure [Abstract]
Debt and Lines of Credit	ebt and Lines of Credit Debt Our debt is carried at the outstanding balance net of any related unamortized discounts and deferred costs and consisted of the following as of the dates presented (in millions): August 31, 2020 2019 Senior unsecured public notes due December 2019, principal $ — $ 350.0 Senior unsecured public notes due December 2019, unamortized discount and deferred costs — (0.1 ) Borrowings under Term Loan Facility 395.0 — Industrial revenue bond due June 2021 4.0 4.0 Bank loans 2.1 2.7 Total debt $ 401.1 $ 356.6 Future principal payments of long-term debt are $24.3 million , $20.2 million , $355.3 million , $0.3 million , $0.3 million , and $0.7 million in fiscal 2021 , 2022 , 2023 , 2024 , 2025 , and after 2025 , respectively. Lines of Credit On June 29, 2018, we entered into a credit agreement (“Credit Agreement”) with a syndicate of banks that provides us with a $400.0 million five-year unsecured revolving credit facility (“Revolving Credit Facility”) and a $400.0 million Term Loan Facility. We had no borrowings outstanding under the Revolving Credit Facility as of August 31, 2020 or 2019 . We had $395.0 million in borrowings outstanding under the Term Loan Facility as of August 31, 2020 and no borrowings outstanding under the Term Loan Facility as of August 31, 2019 . Based on the repayment schedule, $375.0 million of the borrowings under the Term Loan Facility are reflected within Long-term debt on the Consolidated Balance Sheets as of August 31, 2020 . Generally, amounts outstanding under the Revolving Credit Facility allow for borrowings to bear interest at either the Eurocurrency Rate or the base rate at our option, plus an applicable margin. Eurocurrency Rate advances can be denominated in a variety of currencies, including U.S. Dollars, and amounts outstanding bear interest at a periodic fixed rate equal to the LIBOR for the applicable currency plus an applicable margin. The Eurocurrency applicable margin is based on our leverage ratio, as defined in the Credit Agreement, with such margin ranging from 1.000% to 1.375% Base rate advances bear interest at an alternate base rate plus an applicable margin. The base rate applicable margin is based on our leverage ratio, as defined in the Credit Agreement, with such margin ranging from 0.000% to 0.375% . The Term Loan Facility allowed for borrowings to be drawn over a one-year period ending December 31, 2019, utilizing up to four separate installments, which are U.S. dollar denominated. Borrowings under the Term Loan Facility amortize in equal quarterly installments of 2.5% per year in year one, 2.5% per year in year two, 5.0% per year in year three, 5.0% per year in year four, and 7.5% per year in year five. Any remaining borrowings under the Term Loan Facility are due and payable in full on June 29, 2023. The Term Loan Facility allows for borrowings to bear interest at either a Eurocurrency Rate or the base rate, at our option, in each case plus an applicable margin. Eurocurrency Rate advances can be denominated in a variety of currencies, including U.S. Dollars, and amounts outstanding bear interest at a periodic fixed rate equal to the LIBOR for the applicable currency plus an applicable margin. The Eurocurrency applicable margin is based on our leverage ratio, as defined in the Credit Agreement, with such margin ranging from 0.875% to 1.250% . Base Rate advances bear interest at an alternate base rate plus an applicable margin. The base rate applicable margin is based on our leverage ratio, as defined in the Credit Agreement, with such margin ranging from 0.0% to 0.25% . We are required to pay certain fees in connection with the Credit Agreement, including administrative service fees and annual facility fees. The annual facility fee is payable quarterly, in arrears, and is determined by our leverage ratio as defined in the Credit Agreement. The facility fee ranges from 0.125% to 0.250% of the aggregate $800.0 million commitment of the lenders under the Credit Agreement. The Credit Agreement contains financial covenants, including a minimum interest expense coverage ratio (“Minimum Interest Expense Coverage Ratio”) and a leverage ratio (“Maximum Leverage Ratio”) of total indebtedness to earnings before interest, tax, depreciation, and amortization (“EBITDA”), as such terms are defined in the Credit Agreement. These ratios are computed at the end of each fiscal quarter for the most recent 12-month period. The Credit Agreement generally allows for a Minimum Interest Expense Coverage Ratio of 2.50 and a Maximum Leverage Ratio of 3.50 , subject to certain conditions, as such terms are defined in the Credit Agreement. We were in compliance with all financial covenants under the Credit Agreement as of August 31, 2020 . At August 31, 2020 , we had additional borrowing capacity under the Credit Agreement of $396.2 million under the most restrictive covenant in effect at the time, which represents the full amount of the Revolving Credit Facility less the outstanding letters of credit of $3.8 million issued under the Revolving Credit Facility. As of August 31, 2020 , we had outstanding letters of credit totaling $8.1 million , primarily for securing collateral requirements under our casualty insurance programs and for providing credit support for our industrial revenue bond, which includes $3.8 million we issued under the Revolving Credit Facility. Long-term Debt On December 16, 2019 , we repaid $350 million of senior unsecured notes in full plus accrued interest in full with borrowings under our Term Loan Facility. We also had $4.0 million of tax-exempt industrial revenue bonds that are scheduled to mature in June 2021 outstanding at August 31, 2020 . The carrying value of these bonds is reflected within Current maturities of debt on the Consolidated Balance Sheets as of August 31, 2020 . The interest rate on the $4.0 million bonds was approximately 1.0% at August 31, 2020 and 2019 . Additionally, we had $2.1 million outstanding under fixed-rate bank loans. These loans have interest rates between 0.8% and 2.0% and mature between December 2022 and February 2028, subject to monthly or quarterly repayment schedules. None of our existing debt instruments include provisions that would require an acceleration of repayments based solely on changes in our credit ratings.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Aug. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Self-Insurance Our policy is to self-insure up to certain limits traditional risks, including workers’ compensation, comprehensive general liability, and auto liability. Our self-insured retention for each claim involving workers’ compensation, comprehensive general liability (including product liability claims), and auto liability is limited per occurrence of such claims. A provision for claims under this self-insured program, based on our estimate of the aggregate liability for claims incurred, is revised and recorded annually. The estimate is derived from both internal and external sources including, but not limited to, our independent actuary. We are also self-insured up to certain limits for certain other insurable risks, primarily physical loss to property and business interruptions resulting from such loss lasting two days or more in duration. Insurance coverage is maintained for catastrophic property and casualty exposures, as well as those risks required to be insured by law or contract. We are fully self-insured for certain other types of liabilities, including environmental, product recall, warranty, and patent infringement. The actuarial estimates are subject to uncertainty from various sources including, among others, changes in claim reporting patterns, claim settlement patterns, actual claims, judicial decisions, legislation, and economic conditions. Although we believe that the actuarial estimates are reasonable, significant differences related to the items noted above could materially affect our self-insurance obligations, future expense, and cash flow. We are also self-insured for the majority of our medical benefit plans up to certain limits. We estimate our aggregate liability for claims incurred by applying a lag factor to our historical claims and administrative cost experience. The appropriateness of our lag factor is evaluated annually and revised as necessary. Leases We lease certain of our buildings and equipment under noncancelable lease agreements. Please refer to the Leases footnote of the Notes to Consolidated Financial Statements for additional information. Purchase Obligations We incur purchase obligations in the ordinary course of business that are enforceable and legally binding. Obligations for years subsequent to August 31, 2020 include $301.5 million and $5.1 million in fiscal 2021 , and 2022 , respectively. As of August 31, 2020 , we had no purchase obligations extending beyond August 31, 2022 . Collective Bargaining Agreements Approximately 67% of our total work force is covered by collective bargaining agreements. Collective bargaining agreements representing approximately 59% of our work force will expire within one year, primarily due to annual negotiations of union contracts in Mexico. Lighting Science Group Patent Litigation On April 30, 2019 and May 1, 2019, Lighting Science Group Corp. (“LSG”) filed complaints with the International Trade Commission and United States District Court for the District of Delaware, respectively, alleging infringement of eight patents by the Company and others. On May 17, 2019, LSG amended both of its complaints and dropped its claims regarding one of the patents. On October 9, 2019 and November 6, 2019, LSG dropped from the International Trade Commission action its claims regarding four additional patents. For the remaining three patents, LSG’s infringement allegations relate to certain of our LED luminaires. On April 7, 2020 and October 1, 2020, the International Trade Commission made final determinations that LSG was not entitled to any relief, and LSG is appealing certain of those determinations. In the District of Delaware action, LSG separately seeks unspecified monetary damages, costs, and attorneys’ fees. The District of Delaware action is stayed. We dispute and have numerous defenses to the allegations, and we intend to vigorously defend against LSG’s claims. Estimating an amount or range of possible losses resulting from litigation proceedings is inherently difficult, particularly where the matters involve indeterminate claims for monetary damages and a request for an exclusion order and are in the stages of the proceedings where key factual and legal issues have not been resolved. For these reasons, we currently are unable to predict the ultimate timing or outcome of or reasonably estimate the possible losses or a range of possible losses resulting from these matters. Securities Class Action On January 3, 2018, a shareholder filed a class action complaint in the United States District Court for the District of Delaware against us and certain of our officers on behalf of all persons who purchased or otherwise acquired our stock between June 29, 2016 and April 3, 2017. On February 20, 2018, a different shareholder filed a second class action complaint in the same venue against the same parties on behalf of all persons who purchased or otherwise acquired our stock between October 15, 2015 and April 3, 2017. The cases were transferred on April 30, 2018, to the United States District Court for the Northern District of Georgia and subsequently were consolidated as In re Acuity Brands, Inc. Securities Litigation, Civil Action No. 1:18-cv-02140-MHC (N.D. Ga.). On October 5, 2018, the court-appointed lead plaintiff filed a consolidated amended class action complaint (the “Consolidated Complaint”), which supersedes the initial complaints. The Consolidated Complaint is brought on behalf of all persons who purchased our common stock between October 7, 2015 and April 3, 2017 and alleges that we and certain of our current officers and one former executive violated the federal securities laws by making false or misleading statements and/or omitting to disclose material adverse facts that (i) concealed known trends negatively impacting sales of our products and (ii) overstated our ability to achieve profitable sales growth. The plaintiffs seek class certification, unspecified monetary damages, costs, and attorneys’ fees. We dispute the allegations in the complaints and intend to vigorously defend against the claims. We filed a motion to dismiss the Consolidated Complaint. On August 12, 2019, the court entered an order granting our motion to dismiss in part and dismissing all claims based on 42 of the 47 statements challenged in the Consolidated Complaint but also denying the motion in part and allowing claims based on five challenged statements to proceed to discovery. Estimating an amount or range of possible losses resulting from litigation proceedings is inherently difficult, particularly where the matters involve indeterminate claims for monetary damages and are in the stages of the proceedings where key factual and legal issues have not been resolved. For these reasons, we are currently unable to predict the ultimate timing or outcome of or reasonably estimate the possible losses or a range of possible losses resulting from the matters described above. We are insured, in excess of a self-retention, for Directors and Officers liability. Litigation We are subject to various other legal claims arising in the normal course of business, including patent infringement, employment matters, and product liability claims. Based on information currently available, it is the opinion of management that the ultimate resolution of pending and threatened legal proceedings will not have a material adverse effect on our financial condition, results of operations, or cash flows. However, in the event of unexpected future developments, it is possible that the ultimate resolution of any such matters, if unfavorable, could have a material adverse effect on our financial condition, results of operations, or cash flows in future periods. We establish estimated liabilities for legal claims when associated costs become probable and can be reasonably estimated. The actual costs of resolving legal claims may be substantially higher than the amounts accrued for such claims. However, we cannot make a meaningful estimate of actual costs to be incurred that could possibly be higher or lower than the accrued amounts. Environmental Matters Our operations are subject to numerous comprehensive laws and regulations relating to the generation, storage, handling, transportation, and disposal of hazardous substances, as well as solid and hazardous wastes, and to the remediation of contaminated sites. In addition, permits and environmental controls are required for certain operations to limit air and water pollution, and these permits are subject to modification, renewal, and revocation by issuing authorities. On an ongoing basis, we invest capital and incur operating costs relating to environmental compliance. Environmental laws and regulations have generally become stricter in recent years. We are not aware of any pending legislation or proposed regulation related to environmental issues that would have a material adverse effect. The cost of responding to future changes may be substantial. We establish accruals for known environmental claims when the associated costs become probable and can be reasonably estimated. The actual cost of environmental issues may be substantially higher than that accrued due to difficulty in estimating such costs. Guarantees and Indemnities We are a party to contracts entered into in the normal course of business in which it is common for us to agree to indemnify third parties for certain liabilities that may arise out of or relate to the subject matter of the contract. In most cases, we cannot estimate the potential amount of future payments under these indemnities until events arise that would result in a liability under the indemnities. Product Warranty and Recall Costs Our products generally have a standard warranty term of five years that assure our products comply with agreed upon specifications. We record an accrual for the estimated amount of future warranty costs when the related revenue is recognized. Estimated costs related to product recalls based on a formal campaign soliciting repair or return of that product are accrued when they are deemed to be probable and can be reasonably estimated. Estimated future warranty and recall costs are primarily based on historical experience of identified warranty and recall claims. However, there can be no assurance that future warranty or recall costs will not exceed historical amounts or that new technology products may not generate unexpected costs. If actual future warranty or recall costs exceed historical amounts, additional increases in the accrual may be required, which could have a material adverse impact on our results of operations and cash flows. Estimated liabilities for product warranty and recall costs are included in Other accrued liabilities or Other long-term liabilities on the Consolidated Balance Sheets based upon when we expect to settle the incurred warranty. The following table summarizes changes in the estimated liabilities for product warranty and recall costs during the periods presented (in millions): Year Ended August 31, 2020 2019 2018 Beginning balance $ 11.5 $ 27.3 $ 22.0 Warranty and recall costs 32.0 18.7 32.4 Payments and other deductions (27.5 ) (19.7 ) (27.7 ) Acquired warranty and recall liabilities 0.1 — 0.6 ASC 606 adjustments (1) — (14.8 ) — Ending balance $ 16.1 $ 11.5 $ 27.3 ______________________________ (1) Certain service-type warranties accounted for as contingent liabilities prior to the adoption of ASC 606 are now reflected as contract liabilities effective September 1, 2018.

Revenue Recognition

Revenue Recognition	12 Months Ended
	Aug. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition We recognize revenue when we transfer control of goods and services to our customers. Revenue is measured as the amount of consideration we expect to receive in exchange for goods and services and is recognized net of allowances for rebates, sales incentives, product returns, and discounts to customers. Sales and use taxes collected on behalf of governmental authorities are excluded from revenues. Payment is generally due and received within 60 days from the point of sale or prior to the transfer of control of certain goods and services. No payment terms extend beyond one year, and we apply the practical expedient within ASC 606 to conclude that no significant financing terms exist within our contracts with customers. Allowances for cash discounts to customers are estimated using the expected value method based on historical experience and are recorded as a reduction to sales. Our standard terms and conditions of sale allow for the return of certain products within four months of the date of shipment. We also provide for limited product return rights to certain distributors and other customers, primarily for slow moving or damaged items subject to certain defined criteria. The limited product return rights generally allow customers to return resalable products purchased within a specified time period and subject to certain limitations, including, at times, when accompanied by a replacement order of equal or greater value. At the time revenue is recognized, we record a refund liability for the expected value of future returns primarily based on historical experience, specific notification of pending returns, or contractual terms with the respective customers. Although historical product returns generally have been within expectations, there can be no assurance that future product returns will not exceed historical amounts. A significant increase in product returns could have a material adverse impact on our operating results in future periods. Refund liabilities recorded under ASC 606 related to rights of return, cash discounts, and other miscellaneous credits to customers were $31.0 million and $37.3 million as of August 31, 2020 and August 31, 2019 , respectively, and are reflected within Other accrued liabilities on the Consolidated Balance Sheets . Additionally, we record right of return assets for products expected to be returned to our distribution centers, which are included within Prepayments and other current assets on the Consolidated Balance Sheets . Such assets totaled $10.3 million and $13.9 million as of August 31, 2020 and August 31, 2019 , respectively. We also maintain one-time or ongoing promotions with our customers, which may include rebate, sales incentive, marketing, and trade-promotion programs with certain customers that require us to estimate and accrue the expected costs of such programs. These arrangements may include volume rebate incentives, cooperative marketing programs, merchandising of our products, introductory marketing funds for new products, and other trade-promotion activities conducted by the customer. Costs associated with these programs are generally estimated based on the most likely amount expected to be settled based on the context of the individual contract and are reflected within the Consolidated Statements of Comprehensive Income in accordance with ASC 606, which in most instances requires such costs to be recorded as reductions of revenue. Amounts due to our customers associated with these programs totaled $27.7 million and $34.5 million as of August 31, 2020 and August 31, 2019 , respectively, and are reflected within Other accrued liabilities on the Consolidated Balance Sheets . Costs to obtain and fulfill contracts, such as sales commissions and shipping and handling activities, are generally short-term in nature and are expensed as incurred. Nature of Goods and Services Products Approximately 95% of revenues for the periods presented were generated from short-term contracts with our customers to deliver only tangible goods such as luminaires, lighting controls, controls for various building systems, power supplies, prismatic skylights, and drivers. We record revenue from these contracts when the customer obtains control of those goods. For sales designated free on board shipping point, control is transferred and revenue is recognized at the time of shipment. For sales designated free on board destination, customers take control and revenue is recognized when a product is delivered to the customer’s delivery site. Professional Services We collect fees associated with training, installation, and technical support services, primarily related to the set up of our lighting and building technology solutions. We recognize revenue for these one-time services at the time the service is performed. We also sell certain service-type warranties that extend coverages for products beyond their base warranties. We account for service-type warranties as distinct performance obligations and recognize revenue for these contracts ratably over the life of the additional warranty period. Claims related to service-type warranties are expensed as incurred. Software Software sales include licenses for software, data usage fees, and software as a service arrangements, which generally extend for one year or less. We recognize revenue for software based on the contractual rights provided to a customer, which typically results in the recognition of revenue ratably over the contractual service period. Shipping and Handling Activities We account for all shipping and handling activities as activities to fulfill the promise to transfer products to our customers. As such, we do not consider shipping and handling activities to be separate performance obligations, and we expense these costs as incurred. Contracts with Multiple Performance Obligations A small portion (approximately 5% for the periods presented) of our revenue was derived from the combination of any or all of our products, professional services, and software licenses. Significant judgment may be required to determine which performance obligations are distinct and should be accounted for separately. We allocate the expected consideration to be collected to each distinct performance obligation based on its standalone selling price. Standalone selling price is generally determined using a cost plus margin valuation when no observable input is available. The amount of consideration allocated to each performance obligation is recognized as revenue in accordance with the timing for products, professional services, and software as described above. Contract Balances Our rights related to collections from customers are unconditional and are reflected within Accounts receivable on the Consolidated Balance Sheets . We do not have any other significant contract assets. Contract liabilities arise when we receive cash or an unconditional right to collect cash prior to the transfer of control of goods or services. The amount of transaction price from contracts with customers allocated to our contract liabilities consisted of the following as of the dates presented (in millions): August 31, 2020 2019 Current deferred revenues $ 5.4 $ 4.7 Non-current deferred revenues 53.6 46.4 Current deferred revenues primarily consist of software licenses as well as professional service and service-type warranty fees collected prior to performing the related service. Current deferred revenues are included within Other current liabilities on the Consolidated Balance Sheets . These services are expected to be performed within one year. Non-current deferred revenues primarily consist of long-term service-type warranties, which are typically recognized ratably as revenue between five and ten years from the date of sale, and are included within Other long-term liabilities on the Consolidated Balance Sheets. Revenue recognized from beginning balances of contract liabilities during the year ended August 31, 2020 totaled $4.7 million . Unsatisfied performance obligations as of August 31, 2020 that do not represent contract liabilities consist primarily of orders for physical goods that have not yet been shipped, which are typically shipped within a few weeks of order receipt. Disaggregated Revenues Our lighting and building technology solutions are sold primarily through independent sales agents who cover specific geographic areas and market channels, by internal sales representatives, through consumer retail channels, and directly to large corporate accounts. The following table shows revenue from contracts with customers by sales channel during the periods presented (in millions): Year Ended August 31, 2020 2019 Independent sales network $ 2,442.9 $ 2,519.2 Direct sales network 311.0 381.0 Retail sales 214.9 270.3 Corporate accounts 193.6 314.2 Other 163.9 188.0 Total $ 3,326.3 $ 3,672.7

Share-Based Payments

Share-Based Payments	12 Months Ended
	Aug. 31, 2020
Share-based Payment Arrangement, Noncash Expense [Abstract]
Share-Based Payments	Share-based Payments Omnibus Stock Compensation Incentive and Directors’ Equity Plans In January 2018, our stockholders approved the Amended and Restated Acuity Brands, Inc. 2012 Omnibus Stock Compensation Incentive Plan (the “Stock Incentive Plan”), which, among other things, resulted in an aggregate of 2.7 million of shares authorized for issuance pursuant to the Stock Incentive Plan. The Compensation Committee of the Board of Directors is authorized to issue awards consisting of incentive and non-qualified stock options, stock appreciation rights, restricted stock awards, restricted stock units, performance stock awards, performance stock units, stock bonus awards, and cash-based awards to eligible employees, non-employee directors, and outside consultants. Shares available for grant under the Stock Incentive Plan, including those previously issued and outstanding prior to the amendment, were approximately 0.7 million , 1.4 million , and 1.6 million at August 31, 2020 , 2019 , and 2018 , respectively. Any shares subject to an award under the Stock Incentive Plan that are forfeited, canceled, expired, or settled for cash will be available for future grant under the Stock Incentive Plan. Effective for certain restricted stock and performance share grants awarded in fiscal 2020, the Compensation Committee of the Board of Directors reinstated a policy that provides for the continued vesting of stock awards following retirement for all eligible participants who have attained age 60 and have at least ten years of service with the Company. We deem the requisite service period for these awards for a participant to be the shorter of either the award's stated vesting period or the time from grant until the participant satisfies the age and service criteria. Compensation expense recognized related to the awards under the current and prior equity incentive plans during the periods presented is summarized as follows (in millions): Year Ended August 31, 2020 2019 2018 Restricted stock awards $ 24.6 $ 25.1 $ 27.9 Stock options 4.9 2.7 3.1 Performance share units 7.3 — — Director share units 1.4 1.4 1.3 Total share-based payment expense $ 38.2 $ 29.2 $ 32.3 Restricted Stock Awards As of August 31, 2020 , we had approximately 350,000 shares outstanding of restricted stock to officers, directors, and other key employees under the Stock Incentive Plan, including restricted stock units. The shares vest primarily over a four -year period and are valued at the closing stock price on the date of the grant. Activity related to restricted stock awards during the periods presented was as follows (in millions, except per share data): Number of Shares Weighted Average Grant Date Fair Value Per Share Outstanding at August 31, 2017 0.4 $ 197.41 Granted 0.2 $ 154.95 Vested (0.2) $ 177.79 Outstanding at August 31, 2018 0.4 $ 186.63 Granted 0.2 $ 120.73 Vested (0.2) $ 184.60 Forfeited* — $ 159.88 Outstanding at August 31, 2019 0.4 $ 156.32 Granted 0.2 $ 122.10 Vested (0.1) $ 171.92 Forfeited (0.1) $ 135.43 Outstanding at August 31, 2020 0.4 $ 134.68 ___________________________ * Represents shares of less than 0.1 million. As of August 31, 2020 , there was $26.2 million of total unrecognized compensation cost related to unvested restricted stock, which is expected to be recognized over a weighted-average period of 1.6 years. The total weighted average fair value of shares vested during the years ended August 31, 2020 , 2019 , and 2018 was approximately $22.8 million , $26.9 million , and $26.6 million , respectively. Stock Options As of August 31, 2020 , we had approximately 915,000 options outstanding to officers and other key employees under the Stock Incentive Plan. Of these options, 815,000 vest and become exercisable over a three year period (the "Service Options"). The remaining 100,000 vest and become exercisable over a four year period and are also subject to a market condition (the "Market Options"). Options issued under the Stock Incentive Plan are generally granted with an exercise price equal to the fair market value of our stock on the date of grant, but never less than the fair market value on the grant date, and expire ten years from the date of grant. The fair value of each Service Option was estimated on the date of grant using the Black-Scholes model, and the fair value of each Market Option was estimated on the date of grant using the Monte-Carlo simulation model. The dividend yield was calculated based on annual dividends paid and the trailing 12-month average closing stock price at the time of grant. Expected volatility was based on historical volatility of our stock, calculated using the most recent time period equal to the expected life of the options. The risk-free interest rate was based on the U.S. Treasury yield for a term equal to the expected life of the options at the time of grant for the Service Options and equal to the contractual term for the Market Options. We used historical exercise behavior data of similar employee groups to determine the expected life of options. All inputs noted above are estimates made at the time of grant. All inputs into the Black-Scholes model and the Monte-Carlo simulation are estimates made at the time of grant. Actual realized value of each option grant could materially differ from these estimates, without impact to future reported net income. The following weighted average assumptions were used to estimate the fair value of the stock options granted in the fiscal years presented: Market Options Service Options 2020 2020 2019 2018 Dividend yield 0.4% 0.4% 0.4% 0.3% Expected volatility 33.7% 33.7% 32.8% 30.9% Risk-free interest rate 1.5% 1.3% 3.0% 2.0% Expected life of options 7 years 5 years 4 years 4 years Weighted-average fair value of options $44.74 $34.22 $34.06 $41.87 There were no Market Options granted during the fiscal years ended August 31, 2019 or 2018 . Stock option activity during the periods presented was as follows: Outstanding Exercisable Number of Shares (in millions) Weighted Average Exercise Price Number of Shares (in millions) Weighted Average Exercise Price Outstanding at August 31, 2017 0.3 $ 156.43 0.2 $ 106.54 Granted — * $ 156.39 Exercised — * $ 115.27 Outstanding at August 31, 2018 0.3 $ 154.69 0.2 $ 134.13 Granted 0.1 * $ 116.40 Outstanding at August 31, 2019 0.4 $ 146.70 0.3 $ 147.51 Granted 0.5 $ 121.87 Exercised — * $ 116.36 Outstanding at August 31, 2020 0.9 $ 133.19 0.4 $ 151.07 Range of option exercise prices: $40.01 - $100.00 (average life - 2.1 years) 0.1 $ 62.25 0.1 $ 62.25 $100.01 - $160.00 (average life - 8.3 years) 0.7 $ 123.01 0.2 $ 126.16 $160.01 - $210.00 (average life - 5.2 years) 0.1 $ 207.80 0.1 $ 207.80 $210.01 - $239.76 (average life - 6.1 years) — * $ 239.76 — * $ 239.76 ___________________________ * Represents shares of less than 0.1 million. The total intrinsic value of options exercised was de minimis during the year ended August 31, 2020 and $0.5 million during the year ended August 31, 2018 . There were no options exercised during fiscal 2019 . As of August 31, 2020 , the total intrinsic value of options outstanding was $3.3 million , the total intrinsic value of options expected to vest was zero , and the total intrinsic value of options exercisable was $3.3 million . As of August 31, 2020 , there was $15.2 million of total unrecognized compensation cost related to unvested options. That cost is expected to be recognized over a weighted-average period of approximately 1.9 years. Performance Share Units Beginning in fiscal 2020, the Board of Directors (the “Board”) approved grants of performance share units to certain executives and key employees. These shares vest over a three-year period and are valued at the closing stock price on the date of grant. During the second quarter, additional performance shares were issued to certain key employees that vest over a two-year period based on the level of achievement of established performance thresholds and were valued at the closing stock price on the date of grant. The actual number of performance shares earned for these awards will be determined at the end of the related two-year or three-year period based on the level of achievement of established performance thresholds. We recognize compensation expense for these awards proportionately over the requisite service period for each employee when it becomes probable that the performance metric will be satisfied. As of August 31, 2020 , we had approximately 67,000 performance share units outstanding. There were no outstanding performance share units at August 31, 2019 and 2018 . As of August 31, 2020 there was $1.9 million of total unrecognized compensation cost related to unvested performance share units. That cost is expected to be recognized over a weighted-average period of approximately 2.1 years. Employee Deferred Share Units We previously allowed employees to defer a portion of restricted stock awards granted in fiscal 2003 and fiscal 2004 into the SDSP as share units. The share units are payable in shares of stock at the time of distribution from the SDSP. As of August 31, 2020 , approximately 7,500 fully vested share units remain deferred, but undistributed, under the Stock Incentive Plan. There was no compensation expense related to these share units during fiscal years 2020 , 2019 , and 2018 . Director Deferred Share Units Total shares available for issuance under the Director Plan were approximately 320,000 , 360,000 , and 370,000 at August 31, 2020 , 2019 , and 2018 , respectively. As of August 31, 2020 , approximately 98,000 share units were deferred but undistributed under the Director Plan. Employee Stock Purchase Plan Employees are able to purchase, through payroll deduction, common stock at a 5% discount on a monthly basis. There were 1.5 million shares of our common stock reserved for purchase under the plan, of which approximately 1.0 million shares remain available as of August 31, 2020 . Employees may participate at their discretion.

Pension and Defined Contributio

Pension and Defined Contribution Plans	12 Months Ended
	Aug. 31, 2020
Retirement Benefits [Abstract]
Pension and Defined Contribution Plans	Pension and Defined Contribution Plans Company-sponsored Pension Plans We have several pension plans, both qualified and non-qualified, covering certain hourly and salaried employees. Benefits paid under these plans are based generally on employees’ years of service and/or compensation during the final years of employment. We make at least the minimum annual contributions to the plans to the extent indicated by actuarial valuations and statutory requirements. Plan assets are invested primarily in equity and fixed income securities. During fiscal 2019, we recognized an actuarial gain of $3.4 million as well as $0.4 million in net periodic pension cost related to the early retirement of one participant within our non-qualified domestic plans. The following tables reflect the status of our domestic (U.S.-based) and international pension plans as of the dates presented (in millions): Domestic Plans International Plans August 31, August 31, 2020 2019 2020 2019 Change in benefit obligation: Benefit obligation at beginning of year $ 239.2 $ 203.2 $ 44.6 $ 45.5 Service cost 4.3 2.9 0.3 0.2 Interest cost 6.4 7.7 0.9 1.3 Amendments — 11.4 — — Actuarial losses 8.5 26.2 0.7 3.2 Settlement gain — (3.4 ) — — Benefits paid (8.8 ) (8.8 ) (1.4 ) (2.6 ) Other — — 4.1 (3.0 ) Benefit obligation at end of year 249.6 239.2 49.2 44.6 Change in plan assets: Fair value of plan assets at beginning of year $ 151.5 $ 149.4 $ 30.7 $ 30.9 Actual return on plan assets 19.0 9.0 1.9 3.1 Employer contributions 5.4 5.3 0.8 1.2 Benefits paid (8.8 ) (12.2 ) (1.4 ) (2.6 ) Other — — 3.1 (1.9 ) Fair value of plan assets at end of year 167.1 151.5 35.1 30.7 Funded status at the end of year $ (82.5 ) $ (87.7 ) $ (14.1 ) $ (13.9 ) Amounts recognized in the consolidated balance sheets consist of: Current liabilities $ (5.0 ) $ (1.8 ) $ — $ (0.1 ) Non-current liabilities (77.5 ) (85.9 ) (14.1 ) (13.8 ) Net amount recognized in consolidated balance sheets $ (82.5 ) $ (87.7 ) $ (14.1 ) $ (13.9 ) Accumulated benefit obligation $ 249.1 $ 239.2 $ 49.2 $ 44.6 Pre-tax amounts in accumulated other comprehensive loss: Prior service cost $ (8.4 ) $ (12.4 ) $ — $ — Net actuarial loss (79.2 ) (83.4 ) (13.5 ) (13.0 ) Amounts in accumulated other comprehensive loss $ (87.6 ) $ (95.8 ) $ (13.5 ) $ (13.0 ) Pensions plans in which benefit obligation exceeds plan assets: Projected benefit obligation $ 249.6 $ 239.2 $ 49.2 $ 44.6 Accumulated benefit obligation 249.1 239.2 49.2 44.6 Plan assets 167.1 151.5 35.1 30.7 Estimated amounts that will be amortized from accumulated comprehensive income over the next fiscal year: Prior service cost $ 2.9 $ 4.0 $ — $ — Net actuarial loss $ 4.1 $ 4.1 $ 0.6 $ 1.4 Service cost of net periodic pension cost is allocated between Cost of products sold and Selling, distribution, and administrative expenses in the Consolidated Statements of Comprehensive Income based on the nature of the employee's services. All other components of net periodic pension cost are included within Miscellaneous expense, net in the Consolidated Statements of Comprehensive Income . Net periodic pension cost during the periods presented included the following components before tax (in millions): Domestic Plans International Plans 2020 2019 2018 2020 2019 2018 Service cost $ 4.3 $ 2.9 $ 2.7 $ 0.3 $ 0.2 $ 0.2 Interest cost 6.4 7.7 7.3 0.9 1.3 1.3 Expected return on plan assets (10.4 ) (10.5 ) (10.2 ) (2.0 ) (1.9 ) (2.2 ) Amortization of prior service cost 4.0 3.5 3.1 — — — Settlement — 0.4 — — — — Recognized actuarial loss 4.2 2.7 4.5 1.4 1.4 2.3 Net periodic pension cost $ 8.5 $ 6.7 $ 7.4 $ 0.6 $ 1.0 $ 1.6 Weighted average assumptions used in computing the benefit obligation are as follows: Domestic Plans International Plans 2020 2019 2020 2019 Discount rate 2.2 % 2.8 % 1.9 % 2.0 % Rate of compensation increase 5.0 % 5.0 % 3.0 % 3.1 % Weighted average assumptions used in computing net periodic pension cost are as follows: Domestic Plans International Plans 2020 2019 2018 2020 2019 2018 Discount rate 2.8 % 3.9 % 3.5 % 2.0 % 2.9 % 2.5 % Expected return on plan assets 7.0 % 7.3 % 7.5 % 6.5 % 6.5 % 6.5 % Rate of compensation increase 5.0 % 5.5 % 5.5 % 3.0 % 3.1 % 3.1 % It is our policy to adjust, on an annual basis, the discount rate used to determine the projected benefit obligation to approximate rates on high-quality, long-term obligations based on our estimated benefit payments available as of the measurement date. We use a published yield curve to assist in the development of our discount rates. We estimate that a 100 basis point increase in the discount rate would reduce net periodic pension cost approximately $1.0 million for both the domestic plans and international plans. The expected return on plan assets is derived primarily from a periodic study of long-term historical rates of return on the various asset classes included in our targeted pension plan asset allocation as well as future expectations. We estimate that each 100 basis point reduction in the expected return on plan assets would result in additional net periodic pension cost of $1.6 million and $0.3 million for domestic plans and international plans, respectively. We also evaluate the rate of compensation increase annually and adjust if necessary. Our investment objective for domestic plan assets is to earn a rate of return sufficient to exceed the long-term growth of the plans’ liabilities without subjecting plan assets to undue risk. The plan assets are invested primarily in high quality equity and debt securities. We conduct a periodic strategic asset allocation study to form a basis for the allocation of pension assets between various asset categories. Specific allocation percentages are assigned to each asset category with minimum and maximum ranges established for each. The assets are then managed within these ranges. During fiscal 2020 , the U.S. targeted asset allocation was 55% equity securities, 40% fixed income securities, and 5% real estate securities. Our investment objective for the international plan assets is also to add value by exceeding the long-term growth of the plans’ liabilities. During fiscal 2020 , the international asset target allocation approximated 75% equity securities, 15% fixed income securities, and 10% multi-strategy investments. Our pension plan asset allocation by asset category as of the dates presented is as follows: % of Plan Assets Domestic Plans International Plans 2020 2019 2020 2019 Equity securities 58.2 % 53.3 % 76.9 % 73.0 % Fixed income securities 37.3 % 41.8 % 13.7 % 17.1 % Multi-strategy investments — % — % 9.4 % 9.9 % Real estate 4.5 % 4.9 % — % — % Total 100.0 % 100.0 % 100.0 % 100.0 % Our pension plan assets are stated at fair value based on quoted market prices in an active market, quoted redemption values, or estimates based on reasonable assumptions as of the most recent measurement period. See the Fair Value Measurements footnote for a description of the fair value guidance. No transfers between the levels of the fair value hierarchy occurred during the current fiscal period. In the event of a transfer in or out of a level within the fair value hierarchy, the transfers would be recognized on the date of occurrence. Certain pension assets valued at net asset value (“NAV”) per share as a practical expedient are excluded from the fair value hierarchy. Investments in pension plan assets are described in further detail below. Short-term Fixed Income Investments Short-term investments consist of money market funds, which are valued at the daily closing price as reported by the relevant fund (Level 1). Mutual Funds Mutual funds held by the domestic plans are open-end mutual funds that are registered with the Securities and Exchange Commission (“SEC”) and seek to either replicate or outperform a related index. These funds are required to publish their daily net asset value and to transact at that price. The mutual funds held by the domestic plans are deemed to be actively traded (Level 1). Collective Trust The collective trust seeks to outperform the overall small-cap stock market and is comprised of small cap equity securities with quoted prices in active markets for identical investments. The value of this fund is calculated on each business day by dividing the total value of assets, less liabilities, by the number of units of each class outstanding but is not published (Level 2). Fixed Income Investments The fixed interest fund seeks to maximize total return by investing primarily in a diversified portfolio of intermediate and long-term debt securities and is valued using the NAV of units of a management investment company’s trust. The NAV, as provided by the fund's trustee, is used as a practical expedient to estimate fair value. As such, these funds are excluded from the fair value hierarchy. The NAV is based on the fair value of the underlying investments held by the fund less the fund's liabilities. Real Estate Fund The real estate fund invests primarily in commercial real estate and includes mortgage loans that are backed by the associated property's investment objective. The fund seeks real estate returns, risk, and liquidity appropriate to a core fund. The fund also seeks to provide current income with the potential for long-term capital appreciation. This investment is valued based on the NAV per share, without further adjustment. The NAV, as provided by the fund's trustee, is used as a practical expedient to estimate fair value and is therefore excluded from the fair value hierarchy. NAV is based on the fair value of the underlying investments. Investors may request to redeem all or any portion of their shares on a quarterly basis. Each investor must provide a written redemption request at least sixty days prior to the end of the quarter for which the request is to be effective. If insufficient funds are available to honor all redemption requests at any point in time, available funds will be allocated pro-rata based on the total number of shares held by each investor. All decisions regarding whether to honor redemption requests are made by the fund’s board of directors. International Plan Investments The international plans' assets consist primarily of funds invested in equity securities, multi-strategy investments, and fixed income investments. These securities are calculated using the values of the underlying holdings (i.e. significant observable inputs) but do not have actively quoted market prices (Level 2). The short-term fixed income investments represents cash and cash equivalents held by the funds at fiscal year end (Level 1). The following tables present the fair value of the domestic pension plan assets by major category as of the dates presented (in millions): Fair Value Measurements Fair Value as of Quoted Market Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs August 31, 2020 (Level 1) (Level 2) (Level 3) Assets included in the fair value hierarchy: Mutual funds: Domestic large cap equity fund $ 55.6 $ 55.6 $ — $ — Foreign equity fund 26.0 26.0 — — Collective trust: Domestic small cap equities 15.7 — 15.7 — Short-term fixed income investments 5.2 5.2 — — Total assets in the fair value hierarchy 102.5 Assets calculated at net asset value: Fixed-income investments 57.0 Real estate fund 7.6 Total assets at net asset value 64.6 Total assets at fair value $ 167.1 Fair Value Measurements Fair Value as of Quoted Market Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs August 31, 2019 (Level 1) (Level 2) (Level 3) Assets included in the fair value hierarchy: Mutual funds: Domestic large cap equity fund $ 45.6 $ 45.6 $ — $ — Foreign equity fund 20.5 20.5 — — Collective trust: Domestic small cap equities 14.6 — 14.6 — Short-term fixed income investments 6.0 6.0 — — Total assets in the fair value hierarchy 86.7 Assets calculated at net asset value: Fixed-income investments 57.4 Real estate fund 7.4 Total assets at net asset value 64.8 Total assets at fair value $ 151.5 The following tables present the fair value of the international pension plan assets by major category as of the dates presented (in millions): Fair Value Measurements Fair Value as of Quoted Market Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs August 31, 2020 (Level 1) (Level 2) (Level 3) Assets included in the fair value hierarchy: Equity securities $ 27.0 $ — $ 27.0 $ — Short-term fixed income investments 0.3 0.3 — — Multi-strategy investments 3.3 — 3.3 — Fixed-income investments 4.5 — 4.5 — Total assets at fair value $ 35.1 Fair Value Measurements Fair Value as of Quoted Market Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs August 31, 2019 (Level 1) (Level 2) (Level 3) Assets included in the fair value hierarchy: Equity securities $ 22.4 $ — $ 22.4 $ — Short-term fixed income investments 0.3 0.3 — — Multi-strategy investments 3.0 — 3.0 — Fixed-income investments 5.0 — 5.0 — Total assets at fair value $ 30.7 We expect to contribute approximately $1.0 million and $1.2 million during fiscal 2021 to our domestic qualified plans and international defined benefit plans, respectively. These amounts are based on the total contributions required during fiscal 2021 to satisfy current legal minimum funding requirements for qualified plans and estimated benefit payments for non-qualified plans. Benefit payments are made primarily from funded benefit plan trusts. Benefit payments are expected to be paid as follows during the years ending August 31 (in millions): Domestic Plans International Plans 2021 $ 12.8 $ 1.1 2022 11.7 1.2 2023 23.3 1.2 2024 17.9 1.3 2025 13.0 1.3 2026-2030 67.6 7.5 Multi-employer Pension Plans We contribute to two multi-employer defined benefit pension plans under the terms of collective-bargaining agreements that cover certain of our union-represented employees. The risks of participating in these multi-employer plans are different from single-employer plans in the following aspects: • Assets contributed to the multi-employer plan by one employer may be used to provide benefits to employees of other participating employers. • If a participating employer stops contributing to the plan, the unfunded obligations of the plan may be shared by the remaining participating employers. • If a participating employer chooses to stop participating in some of its multi-employer plans, the employer may be required to pay those plans an amount based on the underfunded status of the plan, referred to as a withdrawal liability. Our contributions to these plans were $0.6 million for the year ended August 31, 2020 , and $0.5 million for each of the years ended August 31, 2019 , and 2018 . Defined Contribution Plans We also have defined contribution plans to which both employees and we make contributions. Our cost for these plans was $8.2 million , $8.1 million , and $8.0 million for the years ended August 31, 2020 , 2019 , and 2018 , respectively. Employer matching amounts are allocated in accordance with the participants’ investment elections for elective deferrals. At August 31, 2020 , assets of the domestic defined contribution plans included shares of our common stock with a market value of approximately $5.9 million , which represented approximately 1.5%

Special Charges

Special Charges	12 Months Ended
	Aug. 31, 2020
Restructuring and Related Activities [Abstract]
Special Charges	Special Charges During the year ended August 31, 2020 , we recognized pre-tax special charges of $20.0 million . These charges were primarily severance costs and ROU lease asset impairments related to planned facility closures. We additionally recognized charges for relocation costs associated with the previously announced transfer of activities from planned facility closures. We expect these actions to streamline our business activities, integrate recent acquisitions, and respond to reduced demand due to the COVID-19 pandemic will allow us to reduce spending in certain areas while permitting continued investment in future growth initiatives, such as new products, expanded market presence, and technology and innovation. The details of the special charges during the periods presented are summarized as follows (in millions): Year Ended August 31, 2020 2019 2018 Severance and employee-related costs $ 9.3 $ (0.5 ) $ 5.4 ROU lease asset impairment charges 7.4 — — Other restructuring costs 3.3 2.3 0.2 Total special charges $ 20.0 $ 1.8 $ 5.6 As of August 31, 2020 , remaining accruals were $3.0 million and are included in Accrued compensation in the Consolidated Balance Sheets . The changes in the accruals related to these programs during the period presented are summarized as follows (in millions): Fiscal 2020 Actions Fiscal 2019 Actions Fiscal 2018 Actions Total Balance as of August 31, 2019 $ — $ 1.3 $ 0.6 $ 1.9 Severance costs 9.5 — (0.2 ) 9.3 Payments made during the period (6.5 ) (1.3 ) (0.4 ) (8.2 ) Balance as of August 31, 2020 $ 3.0 $ — $ — $ 3.0

Common Stock and Related Matter

Common Stock and Related Matters	12 Months Ended
	Aug. 31, 2020
Equity [Abstract]
Common Stock and Related Matters	Common Stock and Related Matters Common Stock Changes in common stock during the periods presented were as follows (amounts and shares in millions): Common Stock Shares Amount (At par) Balance at August 31, 2017 53.5 $ 0.5 Issuance of restricted stock grants, net of cancellations 0.2 — Stock options exercised — * — Balance at August 31, 2018 53.7 $ 0.5 Issuance of restricted stock grants, net of cancellations 0.1 — Balance at August 31, 2019 53.8 $ 0.5 Issuance of restricted stock grants, net of cancellations 0.1 — Stock options exercised — * — Balance at August 31, 2020 53.9 $ 0.5 ___________________________ * Represents shares of less than 0.1 million. As of August 31, 2020 and 2019 , we had 15.0 million and 14.3 million of repurchased shares recorded as treasury stock at an original repurchase cost of $1.23 billion and $1.16 billion , respectively. In March 2018, the Board authorized the repurchase of up to six million shares of common stock. As of August 31, 2020 , 2.1 million shares had been purchased under this authorization, of which 0.7 million were repurchased in fiscal 2020 . The maximum number of shares that may yet be purchased under the program as of August 31, 2020 equaled 3.9 million shares. Preferred Stock We have 50 million shares of preferred stock authorized. No shares of preferred stock were issued in fiscal 2020 or 2019 , and no shares of preferred stock are outstanding. Earnings per Share Basic earnings per share for the periods presented is computed by dividing net earnings available to common stockholders by the weighted average number of common shares outstanding for these periods. Diluted earnings per share is computed similarly but reflects the potential dilution that would occur if dilutive options were exercised, all unvested share-based payment awards were vested, and other distributions related to deferred stock agreements were incurred. The following table calculates basic earnings per common share and diluted earnings per common share during the periods presented (in millions, except per share data): Year Ended August 31, 2020 2019 2018 Net income $ 248.3 $ 330.4 $ 349.6 Basic weighted average shares outstanding 39.5 39.7 40.9 Common stock equivalents 0.1 0.1 0.1 Diluted weighted average shares outstanding 39.6 39.8 41.0 Basic earnings per share $ 6.29 $ 8.32 $ 8.54 Diluted earnings per share $ 6.27 $ 8.29 $ 8.52 The following table presents stock options, restricted stock awards, and performance share units that were excluded from the diluted earnings per share calculation for the periods presented as the effect of inclusion would have been antidilutive: Year Ended August 31, 2020 2019 2018 Stock options 598,000 300,000 179,000 Restricted stock awards 213,000 160,000 227,000 Performance stock units * — — — ___________________________ * Represents shares of less than 1,000 in fiscal 2020. No performance stock units awards were outstanding in fiscal 2019 or fiscal 2018.

Income Taxes

Income Taxes	12 Months Ended
	Aug. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes We account for income taxes using the asset and liability approach as prescribed by ASC Topic 740, Income Taxes (“ASC 740”). This approach requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Using the enacted tax rates in effect for the year in which the differences are expected to reverse, deferred tax liabilities and assets are determined based on the differences between the financial reporting and the tax basis of an asset or liability. The provision for income taxes consists of the following components during the periods presented (in millions): Year Ended August 31, 2020 2019 2018 Provision for current federal taxes $ 54.6 $ 60.3 $ 88.9 Provision for current state taxes 12.5 14.7 16.4 Provision for current foreign taxes 16.0 10.2 9.2 (Benefit) provision for deferred taxes (6.7 ) 9.3 (38.2 ) Total provision for income taxes $ 76.4 $ 94.5 $ 76.3 The following table reconciles the provision at the federal statutory rate to the total provision for income taxes during the periods presented (in millions): Year Ended August 31, 2020 2019 2018 Federal income tax computed at statutory rate $ 68.2 $ 89.2 $ 109.4 State income tax, net of federal income tax benefit 9.7 12.2 11.5 Foreign permanent differences and rate differential 2.4 2.1 (2.0 ) Discrete income tax benefits of the TCJA — (2.2 ) (34.6 ) Research and development tax credits (7.1 ) (18.1 ) (3.3 ) Unrecognized tax benefits 1.8 12.2 0.4 Other, net 1.4 (0.9 ) (5.1 ) Total provision for income taxes $ 76.4 $ 94.5 $ 76.3 Components of the net deferred income tax liabilities as of the dates presented include (in millions): August 31, 2020 2019 Deferred income tax liabilities: Depreciation $ (23.3 ) $ (22.0 ) Goodwill and intangibles (153.1 ) (149.6 ) Operating lease right of use asset (15.6 ) — Other liabilities (5.3 ) (2.8 ) Total deferred income tax liabilities (197.3 ) (174.4 ) Deferred income tax assets: Self-insurance 2.1 2.6 Pension 22.2 22.7 Deferred compensation 22.2 20.5 Net operating losses 5.6 6.2 Other accruals not yet deductible 32.0 26.9 Operating lease liabilities 18.2 — Other assets 9.3 9.7 Total deferred income tax assets 111.6 88.6 Valuation allowance (6.5 ) (4.6 ) Net deferred income tax liabilities $ (92.2 ) $ (90.4 ) As of August 31, 2020 and 2019 , the estimated undistributed earnings from foreign subsidiaries was $144.9 million . We have recorded a deferred income tax liability of $2.9 million for certain foreign withholding taxes and U.S. state taxes related to foreign earnings for which we do not assert indefinite reinvestment. With respect to unremitted earnings and original investments in foreign subsidiaries where we are continuing to assert indefinite reinvestment, any future remittances could be subject to additional foreign withholding taxes, U.S. state taxes, and certain tax impacts relating to foreign currency exchange effects. It is not practicable to estimate the amount of any unrecognized tax effects on these reinvested earnings and original investments in foreign subsidiaries. On December 22, 2017, the President of the United States signed into law the Tax Cuts and Jobs Act (“TCJA”). The TCJA included changes that took effect during fiscal 2019 including, but not limited to, additional limitations on certain executive compensation, limitations on interest deductions, a new U.S. tax on certain offshore earnings referred to as Global Intangible Low-Taxed Income (“GILTI”), a new alternative U.S. tax on certain Base Erosion Anti-Avoidance (“BEAT”) payments from a U.S. company to any foreign related party, a new deduction for Foreign Derived Intangible Income (“FDII”), and the repeal of the Section 199 domestic production activities deduction. Our U.S. federal corporate tax rate was 21.0% for fiscal 2019. During fiscal 2018 , we recorded a provisional discrete tax benefit of $34.6 million within Income tax expense on the Consolidated Statements of Comprehensive Income following the enactment of the TCJA. During fiscal 2019 , we recorded an additional tax benefit of $2.2 million related to TCJA impacts including, but not limited to, our one-time transition tax, deferred income taxes, and executive compensation. The total tax benefit related to the enactment of the TCJA was $36.8 million , which included a benefit of $32.5 million to decrease our deferred income taxes to the revised statutory federal rate as well as a current estimated benefit of approximately $4.3 million for the transition tax on unremitted foreign earnings. We have elected to account for the tax on GILTI as a period cost and, therefore, do not record deferred taxes related to GILTI on our foreign subsidiaries. At August 31, 2020 , we had state tax credit carryforwards of approximately $1.6 million , which will expire beginning in 2021 . At August 31, 2020 , we had federal net operating loss carryforwards of $32.0 million that expire beginning in 2029 , state net operating loss carryforwards of $21.2 million that began expiring in 2021 , and foreign net operating loss carryforwards of $2.9 million that expire beginning in 2026 . The gross amount of unrecognized tax benefits as of August 31, 2020 and 2019 totaled $17.2 million and $16.6 million , respectively, which includes $16.7 million and $15.9 million , respectively, of net unrecognized tax benefits that, if recognized, would affect the annual effective tax rate. We recognize potential interest and penalties related to unrecognized tax benefits as a component of income tax expense; such accrued interest and penalties are not material. With few exceptions, we are no longer subject to United States federal, state, and local income tax examinations for years ended before 2015 or for foreign income tax examinations before 2014 . We do not anticipate unrecognized tax benefits will significantly increase or decrease within the next twelve months. The following table reconciles the change in the unrecognized income tax benefit (reported in Other long-term liabilities on the Consolidated Balance Sheets ) during the periods presented (in millions): Year Ended August 31, 2020 2019 Unrecognized tax benefits balance at beginning of year $ 16.6 $ 4.4 Additions based on tax positions related to the current year 2.3 2.0 Additions for tax positions of prior years — 10.9 Reductions for tax positions of prior years (0.4 ) — Reductions due to settlements (1.2 ) — Reductions due to lapse of statute of limitations (0.1 ) (0.7 ) Unrecognized tax benefits balance at end of year $ 17.2 $ 16.6 Total accrued interest was $1.7 million and $1.0 million as of August 31, 2020 and 2019 , respectively. There were no accruals related to income tax penalties during fiscal 2020 . Interest, net of tax benefits, and penalties are included in Income tax expense within the Consolidated Statements of Comprehensive Income . The classification of interest and penalties did not change during the current fiscal year. We are currently under an IRS audit for fiscal years 2017 , 2016 , and 2015 . We do not believe this audit will result in adjustments that would materially change our uncertain tax positions.

Supplemental Disaggregated Info

Supplemental Disaggregated Information	12 Months Ended
	Aug. 31, 2020
Segment Reporting [Abstract]
Supplemental Disaggregated Information	Supplemental Disaggregated Information We have one reportable segment. Sales of lighting and building technology solutions, excluding services, accounted for approximately 99% of total consolidated net sales in fiscal 2020 , 2019 , and 2018 . Our geographic distribution of net sales, operating profit, income before provision for income taxes, and long-lived assets is summarized in the following table during and as of the periods presented (in millions): Year Ended August 31, 2020 2019 2018 Net sales (1) : Domestic (2) $ 2,925.0 $ 3,277.4 $ 3,292.6 International 401.3 395.3 387.5 Total $ 3,326.3 $ 3,672.7 $ 3,680.1 Operating profit: Domestic (2) $ 300.6 $ 419.3 $ 419.0 International 53.3 43.6 41.8 Total $ 353.9 $ 462.9 $ 460.8 Income before provision for income taxes: Domestic (2) $ 274.2 $ 386.4 $ 386.4 International 50.5 38.5 39.5 Total $ 324.7 $ 424.9 $ 425.9 Long-lived assets (3) : Domestic (2) $ 301.2 $ 248.9 $ 256.4 International 64.9 48.4 52.0 Total $ 366.1 $ 297.3 $ 308.4 _______________________________________ (1) Net sales are attributed to each country based on the selling location. (2) Domestic amounts include amounts for U.S. based operations. (3) Long-lived assets include net property, plant, and equipment, operating lease right-of-use assets, long-term deferred income tax assets, and other long-term assets as reflected in the Consolidated Balance Sheets .

Subsequent Event

Subsequent Event	12 Months Ended
	Aug. 31, 2020
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event From September 1, 2020 through October 22, 2020, we repurchased an additional 1.7 million shares of our common stock under the March 2018 share repurchase authorization. On October 23, 2020, the Board authorized the repurchase of an additional 3.8 million shares of our common stock, bringing our total authorization back to six million shares. Refer to Part II, Item 9b. Other information for further details.

Quarterly Financial Data (Unaud

Quarterly Financial Data (Unaudited)	12 Months Ended
	Aug. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Data (Unaudited)	Quarterly Financial Data (Unaudited) Fiscal Year 2020 (In millions) 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Net sales $ 834.7 $ 824.2 $ 776.2 $ 891.2 Gross profit $ 355.8 $ 343.9 $ 327.6 $ 375.1 Net income $ 57.0 $ 57.2 $ 60.4 $ 73.7 Basic earnings per share $ 1.44 $ 1.45 $ 1.53 $ 1.88 Diluted earnings per share $ 1.44 $ 1.44 $ 1.52 $ 1.87 Fiscal Year 2019 (In millions) 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Net sales $ 932.6 $ 854.4 $ 947.6 $ 938.1 Gross profit $ 367.5 $ 333.9 $ 383.6 $ 394.7 Net income $ 79.6 $ 66.3 $ 88.4 $ 96.1 Basic earnings per share $ 1.99 $ 1.68 $ 2.23 $ 2.43 Diluted earnings per share $ 1.98 $ 1.67 $ 2.22 $ 2.42

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Aug. 31, 2020
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II - Valuation and Qualifying Accounts	Schedule II Acuity Brands, Inc. Valuation and Qualifying Accounts For the Years Ended August 31, 2020 , 2019 , and 2018 (In millions) Balance at Additions and Reductions Charged to Beginning of Year Costs and Expenses Other Accounts Deductions Balance at End of Year Inventory reserves: Year Ended August 31, 2020 $ 22.3 36.3 1.8 (11.1 ) $ 49.3 Year Ended August 31, 2019 $ 36.8 10.7 (0.1 ) (25.1 ) $ 22.3 Year Ended August 31, 2018 $ 28.7 17.3 (0.2 ) (9.0 ) $ 36.8

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Aug. 31, 2020
Accounting Policies [Abstract]
Principles of Consolidation	The Consolidated Financial Statements include the accounts of Acuity Brands and its wholly-owned subsidiaries after elimination of intercompany transactions and accounts.
Revenue Recognition and Shipping and Handling Fees and Costs	We recognize revenue when we transfer control of goods and services to our customers. Revenue is measured as the amount of consideration we expect to receive in exchange for goods and services and is recognized net of allowances for rebates, sales incentives, product returns, service-type warranties, and discounts to customers. Please refer to the Revenue Recognition footnote of the Notes to Consolidated Financial Statements for additional information. We include shipping and handling fees billed to customers in Net sales in the Consolidated Statements of Comprehensive Income . Shipping and handling costs associated with inbound freight and freight between manufacturing facilities and distribution centers are generally recorded in Cost of products sold in the Consolidated Statements of Comprehensive Income . Other shipping and handling costs are included in Selling, distribution, and administrative expenses in the Consolidated Statements of Comprehensive Income Current deferred revenues primarily consist of software licenses as well as professional service and service-type warranty fees collected prior to performing the related service. Current deferred revenues are included within Other current liabilities on the Consolidated Balance Sheets . These services are expected to be performed within one year. Non-current deferred revenues primarily consist of long-term service-type warranties, which are typically recognized ratably as revenue between five and ten years from the date of sale, and are included within Other long-term liabilities on the
Use of Estimates	The preparation of financial statements and related disclosures in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expense during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash in excess of daily requirements is invested in time deposits and marketable securities and is included in the accompanying balance sheets at fair value. We consider time deposits and marketable securities with an original maturity of three months or less when purchased to be cash equivalents.
Accounts Receivable	We record accounts receivable at net realizable value. This value includes a reserve for doubtful accounts to reflect losses anticipated on accounts receivable balances. The allowance is based on historical write-offs, an analysis of past due accounts based on the contractual terms of the receivables, and the economic status of customers, if known. We believe that the allowance is sufficient to cover uncollectible amounts; however, there can be no assurance that unanticipated future business conditions of customers will not have a negative impact on our results of operations. Prior to the adoption of the new revenue accounting standard Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers (“ASC 606”) on September 1, 2018 , we recorded reserves for product returns, cash discounts, and other deductions due to customers as a reduction to our outstanding receivables. As of September 1, 2019, we had a total reserve balance of $23.4 million . Since the adoption of ASC 606, estimated liabilities for returns, cash discounts, and other deductions are reflected within Other current liabilities within our Consolidated Balance Sheets
Concentrations of Credit Risk	Concentrations of credit risk with respect to receivables, which are typically unsecured, are generally limited due to the wide variety of customers and markets using our lighting and building technology solutions as well as their dispersion across many different geographic areas.
Reclassifications	Reclassifications Certain prior-period amounts have been reclassified to conform to the current year presentation. No material reclassifications occurred during the current period.
Subsequent Events	We have evaluated subsequent events for recognition and disclosure for occurrences and transactions after the date of the consolidated financial statements as of August 31, 2020
Inventories	Inventories include materials, direct labor, inbound freight, and related manufacturing overhead, are stated at the lower of cost (on a first-in, first-out or average cost basis) and net realizable valuee review inventory quantities on hand and record a provision for excess or obsolete inventory primarily based on estimated future demand and current market conditions. A significant change in customer demand or market conditions could render certain inventory obsolete and could have a material adverse impact on our operating results in the period the change occurs.
Assets Held for Sale	We classify assets as held for sale upon the development and approval of a plan for disposal, when the sale of the asset is probable, and transfer of the asset is expected to be completed within one year. We cease the depreciation and amortization of the assets at the date of approval.
Goodwill and Other Intangibles	Significant estimates and assumptions were used to determine the initial fair value of these acquired intangible assets, including estimated future short-term and long-term net sales and profitability, customer attrition rates, royalty rates, and discount rates. Certain of our intangible assets are attributable to foreign operations and are impacted by currency translation due to movements in foreign currency rates year over year. We test goodwill and indefinite-lived intangible assets for impairment on an annual basis or more frequently as facts and circumstances change, as required by ASC Topic 350, Intangibles — Goodwill and Other (“ASC 350”). ASC 350 allows for an optional qualitative analysis for goodwill to determine the likelihood of impairment. If the qualitative review results in a more likely than not probability of impairment, a quantitative analysis is required. The qualitative step may be bypassed entirely in favor of a quantitative test. The quantitative analysis identifies impairments by comparing the fair value of a reporting unit with its carrying value, including goodwill. The fair values can be determined based on a combination of valuation techniques including the expected present value of future cash flows, a market multiple approach, and a comparable transaction approach. If the fair value of a reporting unit exceeds its carrying value, goodwill is not considered impaired. Conversely, if the carrying value of a reporting unit exceeds its fair value, an impairment charge for the difference is recorded.
Share-Based Payments	We recognize compensation cost relating to share-based payment transactions in the financial statements based on the estimated grant date fair value of the equity instrument issued. We account for stock options, restricted shares, performance units, and share units representing certain deferrals into the Nonemployee Director Deferred Compensation Plan (the “Director Plan”) or the Supplemental Deferred Savings Plan (“SDSP”) (both of which are discussed further in the Share-based Payments footnote) based on the grant-date fair value estimated under the current provisions of ASC Topic 718, Compensation — Stock Compensation (“ASC 718”).
Property, Plant and Equipment	Property, Plant, and Equipment Property, plant, and equipment is initially recorded at cost and depreciated principally on a straight-line basis using estimated useful lives of plant and equipment ( 10 to 40 years for buildings and related improvements and 3 to 15
Property, Plant and Equipment	Property, plant, and equipment is initially recorded at cost and depreciated principally on a straight-line basis using estimated useful lives of plant and equipment ( 10 to 40 years for buildings and related improvements and 3 to 15
Research and Development	Research and development (“R&D”) expense, which is expensed as incurred, consists of compensation, payroll taxes, employee benefits, materials, supplies, and other administrative costs. R&D does not include all new product development costs and is included in Selling, distribution, and administrative expenses in our Consolidated Statements of Comprehensive Income
Advertising	Advertising costs are expensed as incurred and are included within Selling, distribution, and administrative expenses in our Consolidated Statements of Comprehensive Income
Interest Expense, Net	Interest expense, net , is comprised primarily of interest expense on long-term debt, obligations in connection with non-qualified retirement benefits, and line of credit borrowings, partially offset by interest income earned on cash and cash equivalents.
Miscellaneous Expense, Net	Miscellaneous expense, net
Income Taxes	We are taxed at statutory corporate rates after adjusting income reported for financial statement purposes for certain items that are treated differently for income tax purposes. Deferred income tax expenses or benefits result from changes during the year in cumulative temporary differences between the tax basis and book basis of assets and liabilities.
Foreign Currency Translation	The functional currency for foreign operations is generally the local currency where the foreign operations are domiciled. The translation of foreign currencies into U.S. dollars is performed for balance sheet accounts using exchange rates in effect at the balance sheet dates and for revenue and expense accounts using a weighted average exchange rate each month during the year. The gains or losses resulting from the balance sheet translation are included in Foreign currency translation adjustments in the Consolidated Statements of Comprehensive Income and are excluded from net income.
Comprehensive Income	Comprehensive income represents a measure of all changes in equity that result from recognized transactions and other economic events other than transactions with owners in their capacity as owners. Other comprehensive income (loss) includes foreign currency translation and pension adjustments.
New Accounting Pronouncements	Accounting Standards Adopted in Fiscal 2020 ASC 842 — Leases (“ASC 842”) In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, Leases (“ASU 2016-02”), which requires lessees to include most leases on the balance sheet as lease liabilities with an associated right-of-use (“ROU”) asset. Since the issuance of ASU 2016-02, the FASB released several amendments to improve and clarify the implementation guidance, as well as to change the allowable adoption methods. These standards have been collectively codified within ASC 842, Leases . We adopted ASC 842 using the modified retrospective method and applied the standard to all leases existing as of September 1, 2019 . Information for prior years presented has not been restated and continues to reflect the authoritative accounting standards in effect for those periods. We elected the package of transition practical expedients that allows us to carryforward our historical assessments of whether existing contracts contain leases, determinations of lease classification, and treatments of initial direct costs. As of September 1, 2019 , we recognized total operating lease liabilities of $64.7 million in our Consolidated Balance Sheets , of which $49.3 million was recorded within Long-term operating lease liabilities and $15.4 million was recorded within Current operating lease liabilities . We additionally derecognized $5.1 million of previously recorded net deferred rent balances and recorded ROU assets of $59.6 million related to our operating leases, which were reflected within Operating lease right-of-use assets in our Consolidated Balance Sheets . ASU 2020-04 — Reference Rate Reform (Topic 848) In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848) (“ASU 2020-04”), which provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions affected by the discontinuation of the London Interbank Offered Rate (“LIBOR”) or by another reference rate expected to be discontinued. The amendments are effective for all entities as of March 12, 2020 and expire on December 31, 2022. The provisions of ASU 2020-04 did not have a material effect on our financial condition, results of operations, and cash flows as of August 31, 2020 . We will continue to monitor any impacts of the standard and reference rate reform on our financial instruments. Accounting Standards Yet to Be Adopted In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which simplifies the accounting for income taxes, eliminates certain exceptions within ASC 740, Income Taxes , and clarifies certain aspects of the current guidance to promote consistency among reporting entities. ASU 2019-12 is effective for fiscal years beginning after December 15, 2020. Most amendments within the standard are required to be applied on a prospective basis, while certain amendments must be applied on a retrospective or modified retrospective basis. We are currently evaluating the impacts of the provisions of ASU 2019-12 on our financial condition, results of operations, and cash flows. In August 2018, the FASB issued ASU No. 2018-15, Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract (“ASU 2018-15”), which will require customers to apply internal-use software guidance to determine the implementation costs that are able to be capitalized. Capitalized implementation costs will be required to be amortized over the term of the arrangement, beginning when the cloud computing arrangement is ready for its intended use. ASU 2018-15 is effective for fiscal years (and interim reporting periods within those years) beginning after December 15, 2019. The standard allows changes to be applied either retrospectively or prospectively. We will adopt the standard as required in fiscal 2021. The provisions of ASU 2018-15 are not expected to have a material effect on our financial condition, results of operations, or cash flows. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), which requires an entity to assess impairment of its financial instruments based on its estimate of expected credit losses. Since the issuance of ASU 2016-13, the FASB released several amendments to improve and clarify the implementation guidance. The provisions of ASU 2016-13 and the related amendments are effective for fiscal years (and interim reporting periods within those years) beginning after December 15, 2019. Entities are required to apply these changes through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. We have an implementation team tasked with reviewing our financial assets and determining the impact of the new standard to our financial statements. The team is also tasked with identifying appropriate changes to our business processes, systems, and controls to support recognition and disclosure under the new standard. The implementation team has completed its review of our current portfolio, which consists primarily of trade receivables, and has concluded that the application of the expected credit loss model will have an immaterial impact on our consolidated results of operations and financial position. Throughout the fiscal year, the implementation team reported its findings and progress of the project to management on a frequent basis and to the Audit Committee of the Board of Directors on a quarterly basis. All other newly issued accounting pronouncements not yet effective have been deemed either immaterial or not applicable.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	12 Months Ended
	Aug. 31, 2020
Accounting Policies [Abstract]
Schedule of Inventory	nventories include materials, direct labor, inbound freight, and related manufacturing overhead, are stated at the lower of cost (on a first-in, first-out or average cost basis) and net realizable value, and consist of the following as of the dates presented (in millions): August 31, 2020 2019 Raw materials, supplies, and work in process (1) $ 170.3 $ 179.4 Finished goods 199.1 183.7 Inventories excluding reserves 369.4 363.1 Less: Reserves (49.3 ) (22.3 ) Total inventories $ 320.1 $ 340.8 _______________________________________ (1) Due to the immaterial amount of estimated work in process and the short lead times for the conversion of raw materials to finished goods, we do not believe the segregation of raw materials and work in process is meaningful information.
Schedule of Goodwill	The changes in the carrying amount of goodwill during the periods presented are summarized as follows (in millions): Carrying Amount Balance, August 31, 2018 $ 970.6 Additions from an acquired business 2.0 Adjustments to provisional amounts from acquired businesses (0.2 ) Foreign currency translation adjustments (5.1 ) Balance, August 31, 2019 967.3 Additions from acquired businesses 147.8 Adjustments to provisional amounts from acquired businesses (41.5 ) Foreign currency translation adjustments 6.4 Balance as of August 31, 2020 $ 1,080.0
Schedule of Acquired Finite-Lived Intangible Assets	Summarized information for our acquired intangible assets is as follows as of the dates presented (in millions except amortization periods): August 31, 2020 2019 Weighted Average Amortization Period in Years Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Definite-lived intangible assets: Patents and patented technology 11 $ 163.6 $ (89.5 ) $ 135.7 $ (72.9 ) Trademarks and trade names 24 27.2 (15.8 ) 27.2 (14.5 ) Distribution network 28 61.8 (42.8 ) 61.8 (39.7 ) Customer relationships 20 421.4 (94.3 ) 299.2 (72.1 ) Total definite-lived intangible assets 19 $ 674.0 $ (242.4 ) $ 523.9 $ (199.2 ) Indefinite-lived trade names $ 174.3 $ 141.3
Schedule of Acquired Indefinite-Lived Intangible Assets	Summarized information for our acquired intangible assets is as follows as of the dates presented (in millions except amortization periods): August 31, 2020 2019 Weighted Average Amortization Period in Years Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Definite-lived intangible assets: Patents and patented technology 11 $ 163.6 $ (89.5 ) $ 135.7 $ (72.9 ) Trademarks and trade names 24 27.2 (15.8 ) 27.2 (14.5 ) Distribution network 28 61.8 (42.8 ) 61.8 (39.7 ) Customer relationships 20 421.4 (94.3 ) 299.2 (72.1 ) Total definite-lived intangible assets 19 $ 674.0 $ (242.4 ) $ 523.9 $ (199.2 ) Indefinite-lived trade names $ 174.3 $ 141.3
Schedule of Other Long-Term Assets	Other long-term assets consist of the following as of the dates presented (in millions): August 31, 2020 2019 Deferred contract costs $ 12.3 $ 15.4 Investments in unconsolidated affiliates (1) 6.0 — Tax credits (2) 8.6 — Other (3) 2.6 2.3 Total other long-term assets $ 29.5 $ 17.7 _______________________________________ (1) We hold equity investments in two unconsolidated affiliates. These strategic investments represent less than a 20% ownership interest in each of the privately-held affiliates, and we do not maintain power over or control of the entities. We measure these investments at cost less any impairment adjusted for observable price changes, if any. (2) Amount represents research and development tax credit receivables related to certain amended prior year tax returns. (3) Amounts primarily include deferred debt issuance costs related to our credit facilities and company-owned life insurance investments. We maintain life insurance policies on 64 former employees primarily to satisfy obligations under certain deferred compensation plans. These company-owned life insurance policies are presented net of loans that are secured by these policies. This program is frozen, and no new policies were issued in the three-year period ended August 31, 2020 .
Schedule of Other Long-Term Liabilities	Other long-term liabilities consist of the following as of the dates presented (in millions): August 31, 2020 2019 Deferred compensation and postretirement benefits other than pensions (1) $ 42.7 $ 41.6 Service-type warranties 55.8 46.3 Unrecognized tax position liabilities, including interest (2) 18.9 17.6 Other (3) 2.6 5.2 Total other long-term liabilities $ 120.0 $ 110.7 ____________________________________ (1) We maintain several non-qualified retirement plans for the benefit of eligible employees, primarily deferred compensation plans. The deferred compensation plans provide for elective deferrals of an eligible employee’s compensation and, in some cases, matching contributions by the organization. In addition, one plan provides an automatic contribution of 3% of an eligible employee’s compensation. We maintain life insurance policies on certain former officers and other key employees as a means of satisfying a portion of these obligations. (2) See the Income Taxes footnote for more information. (3) Amount primarily includes fees owed for licensing certain intellectual property.
Property, Plant and Equipment	The balance in property, plant, and equipment consisted of the following as of the dates presented (in millions): August 31, 2020 2019 Land $ 22.2 $ 22.6 Buildings and leasehold improvements 192.2 190.7 Machinery and equipment 588.4 544.4 Total property, plant, and equipment, at cost 802.8 757.7 Less: Accumulated depreciation and amortization (532.3 ) (480.4 ) Property, plant, and equipment, net $ 270.5 $ 277.3
Schedule of Interest Expense, Net	The following table summarizes the components of interest expense, net during the periods presented (in millions): Year Ended August 31, 2020 2019 2018 Interest expense $ 26.4 $ 36.4 $ 35.5 Interest income (3.1 ) (3.1 ) (2.0 ) Interest expense, net $ 23.3 $ 33.3 $ 33.5
Schedule of Accumulated Other Comprehensive Loss	The following table presents the changes in each component of accumulated other comprehensive loss net of tax during the periods presented (in millions): Foreign Currency Items Defined Benefit Pension Plans Accumulated Other Comprehensive Loss Items Balance as of August 31, 2018 $ (53.9 ) $ (60.9 ) $ (114.8 ) Other comprehensive loss before reclassifications (11.5 ) (31.1 ) (42.6 ) Amounts reclassified from accumulated other comprehensive loss (1) — 6.0 6.0 Net current period other comprehensive loss (11.5 ) (25.1 ) (36.6 ) Balance as of August 31, 2019 (65.4 ) (86.0 ) (151.4 ) Other comprehensive income (loss) before reclassifications 11.9 (0.6 ) 11.3 Amounts reclassified from accumulated other comprehensive loss (1) — 7.4 7.4 Net current period other comprehensive income 11.9 6.8 18.7 Balance at August 31, 2020 $ (53.5 ) $ (79.2 ) $ (132.7 ) _______________________________________ (1) The before tax amounts of the defined benefit pension plan items are included in net periodic pension cost. See the Pension and Defined Contribution Plans footnote for additional details.
Schedule of Comprehensive Income (Loss)	The following table presents the tax expense or benefit allocated to each component of other comprehensive income (loss) during the periods presented (in millions): Year Ended August 31, 2020 2019 2018 Before Tax Amount Tax (Expense) or Benefit Net of Tax Amount Before Tax Amount Tax (Expense) or Benefit Net of Tax Amount Before Tax Amount Tax (Expense) or Benefit Net of Tax Amount Foreign currency translation adjustments $ 11.9 $ — $ 11.9 $ (11.5 ) $ — $ (11.5 ) $ (25.2 ) $ — $ (25.2 ) Defined benefit pension plans: Actuarial (losses) gains (0.7 ) 0.1 (0.6 ) (40.8 ) 9.7 (31.1 ) 18.4 (4.4 ) 14.0 Amortization of defined benefit pension items: Prior service cost 4.0 (0.9 ) 3.1 3.5 (0.9 ) 2.6 3.1 (0.7 ) 2.4 Actuarial losses 5.6 (1.3 ) 4.3 4.1 (1.0 ) 3.1 6.8 (2.0 ) 4.8 Settlement losses — — — 0.4 (0.1 ) 0.3 — — — Total defined benefit plans, net 8.9 (2.1 ) 6.8 (32.8 ) 7.7 (25.1 ) 28.3 (7.1 ) 21.2 Other comprehensive income (loss) $ 20.8 $ (2.1 ) $ 18.7 $ (44.3 ) $ 7.7 $ (36.6 ) $ 3.1 $ (7.1 ) $ (4.0 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Aug. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of Carrying Value and Estimated Fair Value of Financial Instruments	The carrying values and estimated fair values of certain financial instruments (Level 2) as of the dates presented were as follows (in millions): August 31, 2020 August 31, 2019 Carrying Value Fair Value Carrying Value Fair Value Assets: Investments in unconsolidated affiliates $ 6.0 $ 6.0 $ — $ — Liabilities: Senior unsecured public notes, net of unamortized discount and deferred costs $ — $ — $ 349.9 $ 352.7 Borrowings under Term Loan Facility 395.0 395.0 — — Industrial revenue bond 4.0 4.0 4.0 4.0 Bank loans 2.1 2.3 2.7 2.9

Leases (Tables)

Leases (Tables)	12 Months Ended
	Aug. 31, 2020
Leases [Abstract]
Schedule of Future Undiscounted Payments	The following table presents the future undiscounted payments due on our operating lease liabilities as well as a reconciliation of those payments to our operating lease liabilities recorded as of the date presented (in millions): Fiscal year August 31, 2020 2021 $ 18.5 2022 14.9 2023 12.3 2024 9.7 2025 9.0 Thereafter 14.4 Total undiscounted lease payments 78.8 Less: Discount due to interest (4.8 ) Present value of lease liabilities $ 74.0
Components of Total Lease Costs	The components of total lease cost were as follows during the period presented (in millions): Year Ended August 31, 2020 Operating lease cost $ 18.1 Variable lease cost 2.3 Short-term lease cost 2.8 Total lease cost $ 23.2

Debt and Lines of Credit (Table

Debt and Lines of Credit (Tables)	12 Months Ended
	Aug. 31, 2020
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Our debt is carried at the outstanding balance net of any related unamortized discounts and deferred costs and consisted of the following as of the dates presented (in millions): August 31, 2020 2019 Senior unsecured public notes due December 2019, principal $ — $ 350.0 Senior unsecured public notes due December 2019, unamortized discount and deferred costs — (0.1 ) Borrowings under Term Loan Facility 395.0 — Industrial revenue bond due June 2021 4.0 4.0 Bank loans 2.1 2.7 Total debt $ 401.1 $ 356.6

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Aug. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Schedule of Changes in Product Warranty and Recall Reserves	Estimated liabilities for product warranty and recall costs are included in Other accrued liabilities or Other long-term liabilities on the Consolidated Balance Sheets based upon when we expect to settle the incurred warranty. The following table summarizes changes in the estimated liabilities for product warranty and recall costs during the periods presented (in millions): Year Ended August 31, 2020 2019 2018 Beginning balance $ 11.5 $ 27.3 $ 22.0 Warranty and recall costs 32.0 18.7 32.4 Payments and other deductions (27.5 ) (19.7 ) (27.7 ) Acquired warranty and recall liabilities 0.1 — 0.6 ASC 606 adjustments (1) — (14.8 ) — Ending balance $ 16.1 $ 11.5 $ 27.3 ______________________________ (1) Certain service-type warranties accounted for as contingent liabilities prior to the adoption of ASC 606 are now reflected as contract liabilities effective September 1, 2018.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	12 Months Ended
	Aug. 31, 2020
Revenue from Contract with Customer [Abstract]
Amount of transaction price from contracts with customers allocated to Company's contract liabilities	The amount of transaction price from contracts with customers allocated to our contract liabilities consisted of the following as of the dates presented (in millions): August 31, 2020 2019 Current deferred revenues $ 5.4 $ 4.7 Non-current deferred revenues 53.6 46.4
Revenue from contract with customers by sales channel	The following table shows revenue from contracts with customers by sales channel during the periods presented (in millions): Year Ended August 31, 2020 2019 Independent sales network $ 2,442.9 $ 2,519.2 Direct sales network 311.0 381.0 Retail sales 214.9 270.3 Corporate accounts 193.6 314.2 Other 163.9 188.0 Total $ 3,326.3 $ 3,672.7

Share-Based Payments (Tables)

Share-Based Payments (Tables)	12 Months Ended
	Aug. 31, 2020
Share-based Payment Arrangement, Noncash Expense [Abstract]
Share-based Compensation Recognized	Compensation expense recognized related to the awards under the current and prior equity incentive plans during the periods presented is summarized as follows (in millions): Year Ended August 31, 2020 2019 2018 Restricted stock awards $ 24.6 $ 25.1 $ 27.9 Stock options 4.9 2.7 3.1 Performance share units 7.3 — — Director share units 1.4 1.4 1.3 Total share-based payment expense $ 38.2 $ 29.2 $ 32.3
Schedule of Restricted Stock Award Activity	Activity related to restricted stock awards during the periods presented was as follows (in millions, except per share data): Number of Shares Weighted Average Grant Date Fair Value Per Share Outstanding at August 31, 2017 0.4 $ 197.41 Granted 0.2 $ 154.95 Vested (0.2) $ 177.79 Outstanding at August 31, 2018 0.4 $ 186.63 Granted 0.2 $ 120.73 Vested (0.2) $ 184.60 Forfeited* — $ 159.88 Outstanding at August 31, 2019 0.4 $ 156.32 Granted 0.2 $ 122.10 Vested (0.1) $ 171.92 Forfeited (0.1) $ 135.43 Outstanding at August 31, 2020 0.4 $ 134.68 ___________________________ * Represents shares of less than 0.1 million.
Schedule of Stock Options, Weighted Average Assumptions	The following weighted average assumptions were used to estimate the fair value of the stock options granted in the fiscal years presented: Market Options Service Options 2020 2020 2019 2018 Dividend yield 0.4% 0.4% 0.4% 0.3% Expected volatility 33.7% 33.7% 32.8% 30.9% Risk-free interest rate 1.5% 1.3% 3.0% 2.0% Expected life of options 7 years 5 years 4 years 4 years Weighted-average fair value of options $44.74 $34.22 $34.06 $41.87
Schedule of Stock Option Transactions	Stock option activity during the periods presented was as follows: Outstanding Exercisable Number of Shares (in millions) Weighted Average Exercise Price Number of Shares (in millions) Weighted Average Exercise Price Outstanding at August 31, 2017 0.3 $ 156.43 0.2 $ 106.54 Granted — * $ 156.39 Exercised — * $ 115.27 Outstanding at August 31, 2018 0.3 $ 154.69 0.2 $ 134.13 Granted 0.1 * $ 116.40 Outstanding at August 31, 2019 0.4 $ 146.70 0.3 $ 147.51 Granted 0.5 $ 121.87 Exercised — * $ 116.36 Outstanding at August 31, 2020 0.9 $ 133.19 0.4 $ 151.07 Range of option exercise prices: $40.01 - $100.00 (average life - 2.1 years) 0.1 $ 62.25 0.1 $ 62.25 $100.01 - $160.00 (average life - 8.3 years) 0.7 $ 123.01 0.2 $ 126.16 $160.01 - $210.00 (average life - 5.2 years) 0.1 $ 207.80 0.1 $ 207.80 $210.01 - $239.76 (average life - 6.1 years) — * $ 239.76 — * $ 239.76 ___________________________ * Represents shares of less than 0.1 million.

Pension and Defined Contribut_2

Pension and Defined Contribution Plans (Tables)	12 Months Ended
	Aug. 31, 2020
Retirement Benefits [Abstract]
Schedule of Domestic and International Pension Plans	The following tables reflect the status of our domestic (U.S.-based) and international pension plans as of the dates presented (in millions): Domestic Plans International Plans August 31, August 31, 2020 2019 2020 2019 Change in benefit obligation: Benefit obligation at beginning of year $ 239.2 $ 203.2 $ 44.6 $ 45.5 Service cost 4.3 2.9 0.3 0.2 Interest cost 6.4 7.7 0.9 1.3 Amendments — 11.4 — — Actuarial losses 8.5 26.2 0.7 3.2 Settlement gain — (3.4 ) — — Benefits paid (8.8 ) (8.8 ) (1.4 ) (2.6 ) Other — — 4.1 (3.0 ) Benefit obligation at end of year 249.6 239.2 49.2 44.6 Change in plan assets: Fair value of plan assets at beginning of year $ 151.5 $ 149.4 $ 30.7 $ 30.9 Actual return on plan assets 19.0 9.0 1.9 3.1 Employer contributions 5.4 5.3 0.8 1.2 Benefits paid (8.8 ) (12.2 ) (1.4 ) (2.6 ) Other — — 3.1 (1.9 ) Fair value of plan assets at end of year 167.1 151.5 35.1 30.7 Funded status at the end of year $ (82.5 ) $ (87.7 ) $ (14.1 ) $ (13.9 ) Amounts recognized in the consolidated balance sheets consist of: Current liabilities $ (5.0 ) $ (1.8 ) $ — $ (0.1 ) Non-current liabilities (77.5 ) (85.9 ) (14.1 ) (13.8 ) Net amount recognized in consolidated balance sheets $ (82.5 ) $ (87.7 ) $ (14.1 ) $ (13.9 ) Accumulated benefit obligation $ 249.1 $ 239.2 $ 49.2 $ 44.6 Pre-tax amounts in accumulated other comprehensive loss: Prior service cost $ (8.4 ) $ (12.4 ) $ — $ — Net actuarial loss (79.2 ) (83.4 ) (13.5 ) (13.0 ) Amounts in accumulated other comprehensive loss $ (87.6 ) $ (95.8 ) $ (13.5 ) $ (13.0 ) Pensions plans in which benefit obligation exceeds plan assets: Projected benefit obligation $ 249.6 $ 239.2 $ 49.2 $ 44.6 Accumulated benefit obligation 249.1 239.2 49.2 44.6 Plan assets 167.1 151.5 35.1 30.7 Estimated amounts that will be amortized from accumulated comprehensive income over the next fiscal year: Prior service cost $ 2.9 $ 4.0 $ — $ — Net actuarial loss $ 4.1 $ 4.1 $ 0.6 $ 1.4
Schedule of Net Periodic Pension Cost	Net periodic pension cost during the periods presented included the following components before tax (in millions): Domestic Plans International Plans 2020 2019 2018 2020 2019 2018 Service cost $ 4.3 $ 2.9 $ 2.7 $ 0.3 $ 0.2 $ 0.2 Interest cost 6.4 7.7 7.3 0.9 1.3 1.3 Expected return on plan assets (10.4 ) (10.5 ) (10.2 ) (2.0 ) (1.9 ) (2.2 ) Amortization of prior service cost 4.0 3.5 3.1 — — — Settlement — 0.4 — — — — Recognized actuarial loss 4.2 2.7 4.5 1.4 1.4 2.3 Net periodic pension cost $ 8.5 $ 6.7 $ 7.4 $ 0.6 $ 1.0 $ 1.6
Schedule of Weighted Average Assumptions Used	Weighted average assumptions used in computing the benefit obligation are as follows: Domestic Plans International Plans 2020 2019 2020 2019 Discount rate 2.2 % 2.8 % 1.9 % 2.0 % Rate of compensation increase 5.0 % 5.0 % 3.0 % 3.1 % Weighted average assumptions used in computing net periodic pension cost are as follows: Domestic Plans International Plans 2020 2019 2018 2020 2019 2018 Discount rate 2.8 % 3.9 % 3.5 % 2.0 % 2.9 % 2.5 % Expected return on plan assets 7.0 % 7.3 % 7.5 % 6.5 % 6.5 % 6.5 % Rate of compensation increase 5.0 % 5.5 % 5.5 % 3.0 % 3.1 % 3.1 %
Schedule of Pension Plan Asset Allocation	The following tables present the fair value of the domestic pension plan assets by major category as of the dates presented (in millions): Fair Value Measurements Fair Value as of Quoted Market Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs August 31, 2020 (Level 1) (Level 2) (Level 3) Assets included in the fair value hierarchy: Mutual funds: Domestic large cap equity fund $ 55.6 $ 55.6 $ — $ — Foreign equity fund 26.0 26.0 — — Collective trust: Domestic small cap equities 15.7 — 15.7 — Short-term fixed income investments 5.2 5.2 — — Total assets in the fair value hierarchy 102.5 Assets calculated at net asset value: Fixed-income investments 57.0 Real estate fund 7.6 Total assets at net asset value 64.6 Total assets at fair value $ 167.1 Fair Value Measurements Fair Value as of Quoted Market Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs August 31, 2019 (Level 1) (Level 2) (Level 3) Assets included in the fair value hierarchy: Mutual funds: Domestic large cap equity fund $ 45.6 $ 45.6 $ — $ — Foreign equity fund 20.5 20.5 — — Collective trust: Domestic small cap equities 14.6 — 14.6 — Short-term fixed income investments 6.0 6.0 — — Total assets in the fair value hierarchy 86.7 Assets calculated at net asset value: Fixed-income investments 57.4 Real estate fund 7.4 Total assets at net asset value 64.8 Total assets at fair value $ 151.5 The following tables present the fair value of the international pension plan assets by major category as of the dates presented (in millions): Fair Value Measurements Fair Value as of Quoted Market Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs August 31, 2020 (Level 1) (Level 2) (Level 3) Assets included in the fair value hierarchy: Equity securities $ 27.0 $ — $ 27.0 $ — Short-term fixed income investments 0.3 0.3 — — Multi-strategy investments 3.3 — 3.3 — Fixed-income investments 4.5 — 4.5 — Total assets at fair value $ 35.1 Fair Value Measurements Fair Value as of Quoted Market Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs August 31, 2019 (Level 1) (Level 2) (Level 3) Assets included in the fair value hierarchy: Equity securities $ 22.4 $ — $ 22.4 $ — Short-term fixed income investments 0.3 0.3 — — Multi-strategy investments 3.0 — 3.0 — Fixed-income investments 5.0 — 5.0 — Total assets at fair value $ 30.7 Our pension plan asset allocation by asset category as of the dates presented is as follows: % of Plan Assets Domestic Plans International Plans 2020 2019 2020 2019 Equity securities 58.2 % 53.3 % 76.9 % 73.0 % Fixed income securities 37.3 % 41.8 % 13.7 % 17.1 % Multi-strategy investments — % — % 9.4 % 9.9 % Real estate 4.5 % 4.9 % — % — % Total 100.0 % 100.0 % 100.0 % 100.0 %
Schedule of Expected Benefit Payments	Benefit payments are expected to be paid as follows during the years ending August 31 (in millions): Domestic Plans International Plans 2021 $ 12.8 $ 1.1 2022 11.7 1.2 2023 23.3 1.2 2024 17.9 1.3 2025 13.0 1.3 2026-2030 67.6 7.5

Special Charges (Tables)

Special Charges (Tables)	12 Months Ended
	Aug. 31, 2020
Restructuring and Related Activities [Abstract]
Details of Special Charges Incurred	The details of the special charges during the periods presented are summarized as follows (in millions): Year Ended August 31, 2020 2019 2018 Severance and employee-related costs $ 9.3 $ (0.5 ) $ 5.4 ROU lease asset impairment charges 7.4 — — Other restructuring costs 3.3 2.3 0.2 Total special charges $ 20.0 $ 1.8 $ 5.6
Schedule of Changes in Remaining Reserves	The changes in the accruals related to these programs during the period presented are summarized as follows (in millions): Fiscal 2020 Actions Fiscal 2019 Actions Fiscal 2018 Actions Total Balance as of August 31, 2019 $ — $ 1.3 $ 0.6 $ 1.9 Severance costs 9.5 — (0.2 ) 9.3 Payments made during the period (6.5 ) (1.3 ) (0.4 ) (8.2 ) Balance as of August 31, 2020 $ 3.0 $ — $ — $ 3.0

Common Stock and Related Matt_2

Common Stock and Related Matters (Tables)	12 Months Ended
	Aug. 31, 2020
Equity [Abstract]
Schedule of Changes in Common Stock	Changes in common stock during the periods presented were as follows (amounts and shares in millions): Common Stock Shares Amount (At par) Balance at August 31, 2017 53.5 $ 0.5 Issuance of restricted stock grants, net of cancellations 0.2 — Stock options exercised — * — Balance at August 31, 2018 53.7 $ 0.5 Issuance of restricted stock grants, net of cancellations 0.1 — Balance at August 31, 2019 53.8 $ 0.5 Issuance of restricted stock grants, net of cancellations 0.1 — Stock options exercised — * — Balance at August 31, 2020 53.9 $ 0.5 ___________________________ * Represents shares of less than 0.1 million.
Schedule of Earnings Per Share, Basic and Diluted	The following table calculates basic earnings per common share and diluted earnings per common share during the periods presented (in millions, except per share data): Year Ended August 31, 2020 2019 2018 Net income $ 248.3 $ 330.4 $ 349.6 Basic weighted average shares outstanding 39.5 39.7 40.9 Common stock equivalents 0.1 0.1 0.1 Diluted weighted average shares outstanding 39.6 39.8 41.0 Basic earnings per share $ 6.29 $ 8.32 $ 8.54 Diluted earnings per share $ 6.27 $ 8.29 $ 8.52
Schedule of Securities Excluded from Computation of Earnings Per Share	The following table presents stock options, restricted stock awards, and performance share units that were excluded from the diluted earnings per share calculation for the periods presented as the effect of inclusion would have been antidilutive: Year Ended August 31, 2020 2019 2018 Stock options 598,000 300,000 179,000 Restricted stock awards 213,000 160,000 227,000 Performance stock units * — — — ___________________________ * Represents shares of less than 1,000 in fiscal 2020. No performance stock units awards were outstanding in fiscal 2019 or fiscal 2018.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Aug. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of Provision for Income Taxes	The provision for income taxes consists of the following components during the periods presented (in millions): Year Ended August 31, 2020 2019 2018 Provision for current federal taxes $ 54.6 $ 60.3 $ 88.9 Provision for current state taxes 12.5 14.7 16.4 Provision for current foreign taxes 16.0 10.2 9.2 (Benefit) provision for deferred taxes (6.7 ) 9.3 (38.2 ) Total provision for income taxes $ 76.4 $ 94.5 $ 76.3
Schedule of Reconciliation of Federal Statutory Rate to Total Provision for Income Taxes	The following table reconciles the provision at the federal statutory rate to the total provision for income taxes during the periods presented (in millions): Year Ended August 31, 2020 2019 2018 Federal income tax computed at statutory rate $ 68.2 $ 89.2 $ 109.4 State income tax, net of federal income tax benefit 9.7 12.2 11.5 Foreign permanent differences and rate differential 2.4 2.1 (2.0 ) Discrete income tax benefits of the TCJA — (2.2 ) (34.6 ) Research and development tax credits (7.1 ) (18.1 ) (3.3 ) Unrecognized tax benefits 1.8 12.2 0.4 Other, net 1.4 (0.9 ) (5.1 ) Total provision for income taxes $ 76.4 $ 94.5 $ 76.3
Schedule of Components of Net Deferred Income Taxes	Components of the net deferred income tax liabilities as of the dates presented include (in millions): August 31, 2020 2019 Deferred income tax liabilities: Depreciation $ (23.3 ) $ (22.0 ) Goodwill and intangibles (153.1 ) (149.6 ) Operating lease right of use asset (15.6 ) — Other liabilities (5.3 ) (2.8 ) Total deferred income tax liabilities (197.3 ) (174.4 ) Deferred income tax assets: Self-insurance 2.1 2.6 Pension 22.2 22.7 Deferred compensation 22.2 20.5 Net operating losses 5.6 6.2 Other accruals not yet deductible 32.0 26.9 Operating lease liabilities 18.2 — Other assets 9.3 9.7 Total deferred income tax assets 111.6 88.6 Valuation allowance (6.5 ) (4.6 ) Net deferred income tax liabilities $ (92.2 ) $ (90.4 )
Schedule of Change in Unrecognized Income Tax Benefit	The following table reconciles the change in the unrecognized income tax benefit (reported in Other long-term liabilities on the Consolidated Balance Sheets ) during the periods presented (in millions): Year Ended August 31, 2020 2019 Unrecognized tax benefits balance at beginning of year $ 16.6 $ 4.4 Additions based on tax positions related to the current year 2.3 2.0 Additions for tax positions of prior years — 10.9 Reductions for tax positions of prior years (0.4 ) — Reductions due to settlements (1.2 ) — Reductions due to lapse of statute of limitations (0.1 ) (0.7 ) Unrecognized tax benefits balance at end of year $ 17.2 $ 16.6

Supplemental Disaggregated In_2

Supplemental Disaggregated Information (Tables)	12 Months Ended
	Aug. 31, 2020
Segment Reporting [Abstract]
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas	Our geographic distribution of net sales, operating profit, income before provision for income taxes, and long-lived assets is summarized in the following table during and as of the periods presented (in millions): Year Ended August 31, 2020 2019 2018 Net sales (1) : Domestic (2) $ 2,925.0 $ 3,277.4 $ 3,292.6 International 401.3 395.3 387.5 Total $ 3,326.3 $ 3,672.7 $ 3,680.1 Operating profit: Domestic (2) $ 300.6 $ 419.3 $ 419.0 International 53.3 43.6 41.8 Total $ 353.9 $ 462.9 $ 460.8 Income before provision for income taxes: Domestic (2) $ 274.2 $ 386.4 $ 386.4 International 50.5 38.5 39.5 Total $ 324.7 $ 424.9 $ 425.9 Long-lived assets (3) : Domestic (2) $ 301.2 $ 248.9 $ 256.4 International 64.9 48.4 52.0 Total $ 366.1 $ 297.3 $ 308.4 _______________________________________ (1) Net sales are attributed to each country based on the selling location. (2) Domestic amounts include amounts for U.S. based operations. (3) Long-lived assets include net property, plant, and equipment, operating lease right-of-use assets, long-term deferred income tax assets, and other long-term assets as reflected in the Consolidated Balance Sheets .

Quarterly Financial Data (Una_2

Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Aug. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Data (Unaudited)	Fiscal Year 2020 (In millions) 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Net sales $ 834.7 $ 824.2 $ 776.2 $ 891.2 Gross profit $ 355.8 $ 343.9 $ 327.6 $ 375.1 Net income $ 57.0 $ 57.2 $ 60.4 $ 73.7 Basic earnings per share $ 1.44 $ 1.45 $ 1.53 $ 1.88 Diluted earnings per share $ 1.44 $ 1.44 $ 1.52 $ 1.87 Fiscal Year 2019 (In millions) 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Net sales $ 932.6 $ 854.4 $ 947.6 $ 938.1 Gross profit $ 367.5 $ 333.9 $ 383.6 $ 394.7 Net income $ 79.6 $ 66.3 $ 88.4 $ 96.1 Basic earnings per share $ 1.99 $ 1.68 $ 2.23 $ 2.43 Diluted earnings per share $ 1.98 $ 1.67 $ 2.22 $ 2.42

Description of Business and B_2

Description of Business and Basis of Presentation (Details)	12 Months Ended
	Aug. 31, 2020Segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	1

Significant Accounting Polici_4

Significant Accounting Policies - Accounts Receivable (Details) $ in Millions	Sep. 01, 2019USD ($)
Accounting Policies [Abstract]
Total reserve balance	$ 23.4

Significant Accounting Polici_5

Significant Accounting Policies - Concentration of Credit Risk (Details)	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2018
One Customer | Customer Concentration Risk | Receivables
Concentration Risk [Line Items]
Portion of receivables (percent)	10.00%	10.00%	10.00%

Significant Accounting Polici_6

Significant Accounting Policies - Inventories (Details) - USD ($) $ in Millions	Aug. 31, 2020	Aug. 31, 2019
Inventory, Net [Abstract]
Raw materials, supplies, and work in process	$ 170.3	$ 179.4
Finished goods	199.1	183.7
Inventories excluding reserves	369.4	363.1
Less: Reserves	(49.3)	(22.3)
Total inventories	$ 320.1	$ 340.8

Significant Accounting Polici_7

Significant Accounting Policies - Assets Held For Sale (Details)	12 Months Ended
	Aug. 31, 2020USD ($)building	Aug. 31, 2019USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale, total		$ 0
Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of buildings classified as held for sale | building	3
Assets held for sale, total	$ 4,100,000

Significant Accounting Polici_8

Significant Accounting Policies - Goodwill and Other Intangibles (Details)	12 Months Ended
	Aug. 31, 2020USD ($)intangible_assetreporting_unit	Aug. 31, 2019USD ($)	Aug. 31, 2018USD ($)
Acquired Indefinite-lived Intangible Assets [Line Items]
Intangible asset impairment charge		$ 0	$ 0
Number of unimpaired intangible assets | intangible_asset	12
Goodwill [Roll Forward]
Begining balance	$ 967,300,000	970,600,000
Additions from acquired businesses	147,800,000	2,000,000
Adjustments to provisional amounts from acquired businesses	(41,500,000)	(200,000)
Foreign currency translation adjustments	6,400,000	(5,100,000)
Ending balance	$ 1,080,000,000	967,300,000	970,600,000
Weighted Average Amortization Period in Years	19 years
Amortized intangible assets, gross carrying amount	$ 674,000,000	523,900,000
Accumulated Amortization	(242,400,000)	(199,200,000)
Amortization expense of finite-lived intangible assets	41,700,000	30,800,000	28,500,000
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Amortization expense in fiscal 2021	40,700,000
Amortization expense in fiscal 2022	40,600,000
Amortization expense in fiscal 2023	40,300,000
Amortization expense in fiscal 2024	40,100,000
Amortization expense in fiscal 2025	$ 33,300,000
Number of reporting units | reporting_unit	1
Goodwill impairment charge	$ 0	0	$ 0
Trade Names
Acquired Indefinite-lived Intangible Assets [Line Items]
Unamortized trade names, Gross Carrying Amount	174,300,000	141,300,000
Intangible asset impairment charge	$ 1,400,000
Number of impaired intangible assets | intangible_asset	1
Patents and patented technology
Goodwill [Roll Forward]
Weighted Average Amortization Period in Years	11 years
Amortized intangible assets, gross carrying amount	$ 163,600,000	135,700,000
Accumulated Amortization	$ (89,500,000)	(72,900,000)
Trademarks and trade names
Goodwill [Roll Forward]
Weighted Average Amortization Period in Years	24 years
Amortized intangible assets, gross carrying amount	$ 27,200,000	27,200,000
Accumulated Amortization	$ (15,800,000)	(14,500,000)
Distribution network
Goodwill [Roll Forward]
Weighted Average Amortization Period in Years	28 years
Amortized intangible assets, gross carrying amount	$ 61,800,000	61,800,000
Accumulated Amortization	$ (42,800,000)	(39,700,000)
Customer relationships
Goodwill [Roll Forward]
Weighted Average Amortization Period in Years	20 years
Amortized intangible assets, gross carrying amount	$ 421,400,000	299,200,000
Accumulated Amortization	$ (94,300,000)	$ (72,100,000)

Significant Accounting Polici_9

Significant Accounting Policies - Other Long-Term Assets and Liabilities (Details) $ in Millions	12 Months Ended
	Aug. 31, 2020USD ($)Employeeaffiliate	Aug. 31, 2019USD ($)
Other Long-Term Assets [Abstract]
Deferred contract costs	$ 12.3	$ 15.4
Investments in unconsolidated affiliates	6	0
Tax credits	8.6	0
Other	2.6	2.3
Total other long-term assets	$ 29.5	17.7
Number of unconsolidated affiliates | affiliate	2
Number of former employees covered under life insurance policy | Employee	64
Other Long-Term Liabilities [Abstract]
Deferred compensation and postretirement benefits other than pensions	$ 42.7	41.6
Service-type warranties	53.6	46.4
Uncertain tax positions liability, including interest	18.9	17.6
Other	2.6	5.2
Total other long-term liabilities	$ 120	110.7
Percentage contribution rate of eligible employee's compensation	3.00%
Service-Type Warranties
Other Long-Term Liabilities [Abstract]
Service-type warranties	$ 55.8	$ 46.3

Significant Accounting Polic_10

Significant Accounting Policies - Selling, Distribution and Administrative Expenses (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2018
Accounting Policies [Abstract]
Other shipping and handling costs	$ 121.9	$ 138.4	$ 154.9
Share-based Payment Arrangement, Noncash Expense [Abstract]
Share-based payment expense	38.2	29.2	32.3
Income tax benefit for share-based compensation	6.6	6.5	8.4
Net excess tax expense (benefit) related to share-based payment cost	1.4	1.6	0.8
Research and development expense	82	74.7	63.9
Advertising costs	$ 15.1	$ 18.5	$ 20.6

Significant Accounting Polic_11

Significant Accounting Policies - Property, Plant and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2018
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 59.4	$ 57.5	$ 51.8
Total property, plant, and equipment, at cost	802.8	757.7
Less: Accumulated depreciation and amortization	(532.3)	(480.4)
Property, plant, and equipment, net	270.5	277.3
Land
Property, Plant and Equipment [Line Items]
Total property, plant, and equipment, at cost	22.2	22.6
Total property, plant, and equipment, at cost
Property, Plant and Equipment [Line Items]
Total property, plant, and equipment, at cost	192.2	190.7
Machinery and equipment
Property, Plant and Equipment [Line Items]
Total property, plant, and equipment, at cost	$ 588.4	$ 544.4
Minimum | Total property, plant, and equipment, at cost
Property, Plant and Equipment [Line Items]
Useful lives of plant and equipment, minimum	10 years
Minimum | Machinery and equipment
Property, Plant and Equipment [Line Items]
Useful lives of plant and equipment, minimum	3 years
Maximum | Total property, plant, and equipment, at cost
Property, Plant and Equipment [Line Items]
Useful lives of plant and equipment, minimum	40 years
Maximum | Machinery and equipment
Property, Plant and Equipment [Line Items]
Useful lives of plant and equipment, minimum	15 years

Significant Accounting Polic_12

Significant Accounting Policies - Interest Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2018
Interest Revenue (Expense), Net [Abstract]
Interest expense	$ 26.4	$ 36.4	$ 35.5
Interest income	(3.1)	(3.1)	(2)
Interest expense, net	$ 23.3	$ 33.3	$ 33.5

Significant Accounting Polic_13

Significant Accounting Policies - Miscellaneous Income, Net (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2018
Financial Statement Line Items with Differences in Reported Amount and Reporting Currency Denominated Amounts [Line Items]
Gain on sale of business	$ 0	$ 0	$ 5.4
Amounts reclassified from accumulated other comprehensive loss	(7.4)	(6)
Miscellaneous expense (income), net
Financial Statement Line Items with Differences in Reported Amount and Reporting Currency Denominated Amounts [Line Items]
Income (expense) relating to foreign currency items	(5.9)	0.6	0.1
Foreign Currency Items
Financial Statement Line Items with Differences in Reported Amount and Reporting Currency Denominated Amounts [Line Items]
Amounts reclassified from accumulated other comprehensive loss	$ 0	$ 0	$ 8.7

Significant Accounting Polic_14

Significant Accounting Policies - Changes of Accumulated Other Comprehensive Loss, Net of tax (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2018
Accumulated Other Comprehensive Loss, Net of Tax [Roll Forward]
Beginning balance	$ 1,918.9	$ 1,716.8	$ 1,665.6
Other comprehensive income (loss) before reclassifications	11.3	(42.6)
Amounts reclassified from accumulated other comprehensive loss	7.4	6
Other comprehensive income (loss) items, net of tax	18.7	(36.6)	(4)
Ending balance	2,127.5	1,918.9	1,716.8
Foreign Currency Items
Accumulated Other Comprehensive Loss, Net of Tax [Roll Forward]
Beginning balance	(65.4)	(53.9)
Other comprehensive income (loss) before reclassifications	11.9	(11.5)
Amounts reclassified from accumulated other comprehensive loss	0	0	(8.7)
Other comprehensive income (loss) items, net of tax	11.9	(11.5)
Ending balance	(53.5)	(65.4)	(53.9)
Defined Benefit Pension Plans
Accumulated Other Comprehensive Loss, Net of Tax [Roll Forward]
Beginning balance	(86)	(60.9)
Other comprehensive income (loss) before reclassifications	(0.6)	(31.1)
Amounts reclassified from accumulated other comprehensive loss	7.4	6
Other comprehensive income (loss) items, net of tax	6.8	(25.1)
Ending balance	(79.2)	(86)	(60.9)
Accumulated Other Comprehensive Loss Items
Accumulated Other Comprehensive Loss, Net of Tax [Roll Forward]
Beginning balance	(151.4)	(114.8)	(99.7)
Other comprehensive income (loss) items, net of tax	18.7	(36.6)	(4)
Ending balance	$ (132.7)	$ (151.4)	$ (114.8)

Significant Accounting Polic_15

Significant Accounting Policies - Components of Other Comprehensive Income Loss (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2018
Foreign currency translation adjustments - Before Tax Amount
Foreign currency translation adjustments	$ 11.9	$ (11.5)	$ (25.2)
Foreign currency translation adjustments - Tax (Expense) or Benefit
Foreign currency translation adjustments	0	0	0
Foreign currency translation adjustments - Net of Tax Amount
Foreign currency translation adjustments	11.9	(11.5)	(25.2)
Defined benefit pension plans - Before Tax Amounts
Actuarial (losses) gains	(0.7)	(40.8)	18.4
Amortization of Defined benefit pension items - Prior service cost	4	3.5	3.1
Amortization of Defined benefit pension items - Actuarial losses	5.6	4.1	6.8
Amortization of Defined benefit pension items - Settlement losses	0	0.4	0
Total defined benefit plans, net - before tax	8.9	(32.8)	28.3
Defined benefit pension plans - Tax (Expense) or Benefit
Actuarial (losses) gains	0.1	9.7	(4.4)
Amortization of Defined benefit pension items - Prior service cost	(0.9)	(0.9)	(0.7)
Amortization of Defined benefit pension items - Actuarial losses	(1.3)	(1)	(2)
Amortization of Defined benefit pension items - Settlement losses	0	(0.1)	0
Total defined benefit plans, net - tax	(2.1)	7.7	(7.1)
Defined benefit pension plans - Net of Tax Amount
Actuarial (losses) gains	(0.6)	(31.1)	14
Amortization of Defined benefit pension items - Prior service cost	3.1	2.6	2.4
Amortization of Defined benefit pension items - Actuarial losses	4.3	3.1	4.8
Amortization of Defined benefit pension items - Settlement losses	0	0.3	0
Total defined benefit plans, net - net of tax	6.8	(25.1)	21.2
Other comprehensive income (loss) before tax	20.8	(44.3)	3.1
Other comprehensive income (loss), tax	(2.1)	7.7	(7.1)
Other comprehensive income (loss) items, net of tax	$ 18.7	$ (36.6)	$ (4)

New Accounting Pronouncements -

New Accounting Pronouncements - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Sep. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201602Member	us-gaap:AccountingStandardsUpdate201409Member
Operating lease liabilities	$ 74
Long-term operating lease liabilities	56.8
Current operating lease liabilities	17.2
Operating lease right-of-use assets	$ 63.4
ASU 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease liabilities			$ 64.7
Long-term operating lease liabilities			49.3
Current operating lease liabilities			15.4
Deferred rent balances derecognized			(5.1)
Operating lease right-of-use assets			$ 59.6

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) $ in Millions	12 Months Ended
	Aug. 31, 2020USD ($)	Sep. 17, 2019brand	Aug. 31, 2019USD ($)	Aug. 31, 2018USD ($)
Business Acquisition [Line Items]
Goodwill	$ 1,080		$ 967.3	$ 970.6
Weighted Average Amortization Period in Years	19 years
The Luminaires Group (TLG)
Business Acquisition [Line Items]
Number of niche lighting brands of acquired entity | brand		5
Fiscal 2020 Acquisitions
Business Acquisition [Line Items]
Goodwill	$ 107.6
Identifiable intangible assets	$ 180.6
Weighted Average Amortization Period in Years	16 years
Goodwill expected to be tax deductible	$ 77.7

Fair Value Measurements (Detail

Fair Value Measurements (Details) $ in Millions	Aug. 31, 2020USD ($)affiliate	Aug. 31, 2019USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 560.7	$ 461
Investments in unconsolidated affiliates	$ 6	0
Number of unconsolidated affiliates | affiliate	2
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in unconsolidated affiliates	$ 6	0
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in unconsolidated affiliates	6	0
Senior unsecured public notes, net of unamortized discount and deferred costs | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying and estimated fair value of financial instruments	0	349.9
Senior unsecured public notes, net of unamortized discount and deferred costs | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying and estimated fair value of financial instruments	0	352.7
Borrowings under Term Loan Facility | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying and estimated fair value of financial instruments	395	0
Borrowings under Term Loan Facility | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying and estimated fair value of financial instruments	395	0
Industrial revenue bond | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying and estimated fair value of financial instruments	4	4
Industrial revenue bond | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying and estimated fair value of financial instruments	4	4
Bank loans | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying and estimated fair value of financial instruments	2.1	2.7
Bank loans | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying and estimated fair value of financial instruments	2.3	2.9
Fair value measured on recurring basis | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 560.7	$ 461

Leases (Details)

Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2018
Lessee, Lease, Description [Line Items]
Weighted average discount rate (percent)	1.90%
Weighted average remaining lease term	6 years
Rent expense		$ 22.6	$ 22.3
Cash paid for operating lease liabilities	$ 18.7
ROU assets obtained in exchange for lease liabilities	27.2
Special Charges
Lessee, Lease, Description [Line Items]
ROU lease asset impairment charges	$ 7.4	$ 0	$ 0

Leases - Schedule of Future Und

Leases - Schedule of Future Undiscounted Payments (Details) $ in Millions	Aug. 31, 2020USD ($)
Leases [Abstract]
2021	$ 18.5
2022	14.9
2023	12.3
2024	9.7
2025	9
Thereafter	14.4
Total undiscounted lease payments	78.8
Less: Discount due to interest	(4.8)
Present value of lease liabilities	$ 74

Leases - Components of Total Le

Leases - Components of Total Lease Costs (Details) $ in Millions	12 Months Ended
	Aug. 31, 2020USD ($)
Leases [Abstract]
Operating lease cost	$ 18.1
Variable lease cost	2.3
Short-term lease cost	2.8
Total lease cost	$ 23.2

Debt and Lines of Credit - Debt

Debt and Lines of Credit - Debt (Details) - USD ($)	Aug. 31, 2020	Aug. 31, 2019
Debt Instrument [Line Items]
Total debt	$ 401,100,000	$ 356,600,000
Long-term Debt, Fiscal Year Maturity [Abstract]
2021	24,300,000
2022	20,200,000
2023	355,300,000
2024	300,000
2025	300,000
After 2024	700,000
Senior Unsecured Notes | Unsecured public notes due December 2019
Debt Instrument [Line Items]
Debt outstanding	0	350,000,000
Senior unsecured public notes due December 2019, unamortized discount and deferred costs	0	(100,000)
Unsecured Term Loan | Borrowings under Term Loan Facility
Debt Instrument [Line Items]
Total debt	395,000,000	0
Industrial Revenue Bond | Industrial revenue bond
Debt Instrument [Line Items]
Total debt	4,000,000	4,000,000
Bank loans | Fixed-rate Bank Loans
Debt Instrument [Line Items]
Total debt	$ 2,100,000	$ 2,700,000

Debt and Lines of Credit - Line

Debt and Lines of Credit - Lines of Credit (Details)	Jun. 29, 2018USD ($)installment	Aug. 31, 2020USD ($)	Aug. 31, 2019USD ($)
Line of Credit Facility [Line Items]
Borrowings outstanding under term loan facility		$ 401,100,000	$ 356,600,000
Long-term debt		376,800,000	347,500,000
Revolving credit facility borrowings
Line of Credit Facility [Line Items]
Outstanding letters of credit		3,800,000
Lines of Credit
Line of Credit Facility [Line Items]
Revolving credit facility	$ 800,000,000
Minimum interest coverage ratio	2.50
Maximum leverage ratio	3.50
Outstanding letters of credit		8,100,000
Lines of Credit | Minimum
Line of Credit Facility [Line Items]
Commitment fees rate	0.125%
Lines of Credit | Maximum
Line of Credit Facility [Line Items]
Commitment fees rate	0.25%
Lines of Credit | New Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving credit facility	$ 400,000,000
Term of facility	5 years
Borrowings outstanding under credit facility		0	0
Lines of Credit | Borrowings under Term Loan Facility
Line of Credit Facility [Line Items]
Revolving credit facility	$ 400,000,000
Lines of Credit | Revolving credit facility borrowings
Line of Credit Facility [Line Items]
Additional borrowing capacity under revolving credit facility		396,200,000
Unsecured Term Loan | Borrowings under Term Loan Facility
Line of Credit Facility [Line Items]
Borrowings outstanding under term loan facility		395,000,000	$ 0
Long-term debt		$ 375,000,000
Number of installments | installment	4
Eurocurrency Rate | Lines of Credit | New Revolving Credit Facility | Minimum
Line of Credit Facility [Line Items]
Applicable margins as determined by leverage ratio	1.00%
Eurocurrency Rate | Lines of Credit | New Revolving Credit Facility | Maximum
Line of Credit Facility [Line Items]
Applicable margins as determined by leverage ratio	1.375%
Eurocurrency Rate | Lines of Credit | Borrowings under Term Loan Facility | Minimum
Line of Credit Facility [Line Items]
Applicable margins as determined by leverage ratio	0.875%
Eurocurrency Rate | Lines of Credit | Borrowings under Term Loan Facility | Maximum
Line of Credit Facility [Line Items]
Applicable margins as determined by leverage ratio	1.25%
Base Rate | Lines of Credit | New Revolving Credit Facility | Minimum
Line of Credit Facility [Line Items]
Applicable margins as determined by leverage ratio	0.00%
Base Rate | Lines of Credit | New Revolving Credit Facility | Maximum
Line of Credit Facility [Line Items]
Applicable margins as determined by leverage ratio	0.375%
Base Rate | Lines of Credit | Borrowings under Term Loan Facility | Minimum
Line of Credit Facility [Line Items]
Applicable margins as determined by leverage ratio	0.00%
Base Rate | Lines of Credit | Borrowings under Term Loan Facility | Maximum
Line of Credit Facility [Line Items]
Applicable margins as determined by leverage ratio	0.25%
Year one | Lines of Credit | Borrowings under Term Loan Facility
Line of Credit Facility [Line Items]
Periodic payment maturity as percent of principal (percent)	2.50%
Year two | Lines of Credit | Borrowings under Term Loan Facility
Line of Credit Facility [Line Items]
Periodic payment maturity as percent of principal (percent)	2.50%
Year three | Lines of Credit | Borrowings under Term Loan Facility
Line of Credit Facility [Line Items]
Periodic payment maturity as percent of principal (percent)	5.00%
Year four | Lines of Credit | Borrowings under Term Loan Facility
Line of Credit Facility [Line Items]
Periodic payment maturity as percent of principal (percent)	5.00%
Year five | Lines of Credit | Borrowings under Term Loan Facility
Line of Credit Facility [Line Items]
Periodic payment maturity as percent of principal (percent)	7.50%

Debt and Lines of Credit - Long

Debt and Lines of Credit - Long-term Debt (Details) - USD ($) $ in Millions	Dec. 16, 2019	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2018
Debt Instrument [Line Items]
Repayments of debt		$ 350.7	$ 0.4	$ 0.4
Total debt outstanding		401.1	356.6
Senior Unsecured Notes | Unsecured public notes due December 2019
Debt Instrument [Line Items]
Repayments of debt	$ 350
Industrial Revenue Bond | Industrial revenue bond
Debt Instrument [Line Items]
Total debt outstanding		$ 4	$ 4
Long-term debt interest rate (percent)		1.00%	1.70%
Bank loans | Fixed-rate Bank Loans
Debt Instrument [Line Items]
Total debt outstanding		$ 2.1	$ 2.7
Bank loans | Fixed-rate Bank Loans | Minimum
Debt Instrument [Line Items]
Interest rate (percent)		0.80%
Bank loans | Fixed-rate Bank Loans | Maximum
Debt Instrument [Line Items]
Interest rate (percent)		2.00%

Commitments and Contingencies_2

Commitments and Contingencies (Details)	Aug. 12, 2019statement	May 17, 2019patent	May 01, 2019patent	Oct. 05, 2018statement	Jan. 03, 2018executive	Nov. 06, 2019patent	Aug. 31, 2020USD ($)	Aug. 31, 2019USD ($)	Aug. 31, 2018USD ($)
Recorded Unconditional Purchase Obligation, Fiscal Year Maturity Schedule [Abstract]
Purchase obligations in fiscal 2021							$ 301,500,000
Purchase obligations in fiscal 2022							5,100,000
Purchase obligations extending beyond August 31, 2022							$ 0
Standard product warranty period							5 years
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Beginning balance							$ 11,500,000	$ 27,300,000	$ 22,000,000
Warranty and recall costs							32,000,000	18,700,000	32,400,000
Payments and other deductions							(27,500,000)	(19,700,000)	(27,700,000)
Acquired warranty and recall liabilities							100,000	0	600,000
ASC 606 adjustments							0	(14,800,000)	0
Ending balance							$ 16,100,000	$ 11,500,000	$ 27,300,000
Lighting Science Group Patent Litigation
Recorded Unconditional Purchase Obligation, Fiscal Year Maturity Schedule [Abstract]
Number of patents under alleged infringement claims (patents) | patent			8			3
Number of patents under dropped claims (patents) | patent		1				4
Securities Class Action
Recorded Unconditional Purchase Obligation, Fiscal Year Maturity Schedule [Abstract]
Number of initial claims under class action | statement	42
Number of claims dismissed | statement				47
Number of claims allowed | statement	5
Securities Class Action | Former Executive
Recorded Unconditional Purchase Obligation, Fiscal Year Maturity Schedule [Abstract]
Number of former executives accused | executive					1
Total work force covered by collective bargaining agreements
Recorded Unconditional Purchase Obligation, Fiscal Year Maturity Schedule [Abstract]
Portion of revenues (percent)							67.00%
Workforce subject to Collective bargaining arrangements expiring within one year
Recorded Unconditional Purchase Obligation, Fiscal Year Maturity Schedule [Abstract]
Portion of revenues (percent)							59.00%

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2018
Disaggregation of Revenue [Line Items]
Right of return assets	$ 10.3	$ 13.9
Revenues recognized from beginning balances of contract liabilities	4.7
Customers with Rights of Return, Cash Discounts and Other Credits
Disaggregation of Revenue [Line Items]
Refund liabilities	31	37.3
Customers with Rebate, Marketing, and Trade Promotion Programs
Disaggregation of Revenue [Line Items]
Refund liabilities	$ 27.7	$ 34.5
Revenue source | Net sales
Disaggregation of Revenue [Line Items]
Portion of revenues (percent)	5.00%	5.00%	5.00%
Short-term Contract with Customer | Revenue source | Net sales
Disaggregation of Revenue [Line Items]
Portion of revenues (percent)	95.00%	95.00%	95.00%

Revenue Recognition - Contract

Revenue Recognition - Contract Balances (Details) - USD ($) $ in Millions	Aug. 31, 2020	Aug. 31, 2019
Revenue from Contract with Customer [Abstract]
Current deferred revenues	$ 5.4	$ 4.7
Non-current deferred revenues	$ 53.6	$ 46.4

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregated Revenues (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Aug. 31, 2020	May 31, 2020	Feb. 29, 2020	Nov. 30, 2019	Aug. 31, 2019	May 31, 2019	Feb. 28, 2019	Nov. 30, 2018	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2018
Disaggregation of Revenue [Line Items]
Net sales	$ 891.2	$ 776.2	$ 824.2	$ 834.7	$ 938.1	$ 947.6	$ 854.4	$ 932.6	$ 3,326.3	$ 3,672.7	$ 3,680.1
Independent sales network
Disaggregation of Revenue [Line Items]
Net sales									2,442.9	2,519.2
Direct sales network
Disaggregation of Revenue [Line Items]
Net sales									311	381
Retail sales
Disaggregation of Revenue [Line Items]
Net sales									214.9	270.3
Corporate accounts
Disaggregation of Revenue [Line Items]
Net sales									193.6	314.2
Other
Disaggregation of Revenue [Line Items]
Net sales									$ 163.9	$ 188

Share-Based Payments (Details)

Share-Based Payments (Details) - USD ($)	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2018	Jan. 31, 2018	Aug. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment expense	$ 38,200,000	$ 29,200,000	$ 32,300,000
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Forfeited (in shares)	(100,000)	0
Weighted Average Grant Date Fair Value Per Share [Roll Forward]
Forfeited, Weighted Average Grant Date Fair Value Per Share (in dollars per share)	$ 135.43	$ 159.88
Stock Options | $40.01 - $100.00 (average life - 2.1 years)
Share-based Payment Arrangement, Option, Exercise Price Range, End of Period [Abstract]
Range of option exercise prices: lower range limit (in dollars per share)	40.01
Range of option exercise prices: upper range limit (in dollars per share)	$ 100
Range of option exercise prices: average life	2 years 1 month 6 days
Stock Options | $100.01 - $160.00 (average life - 8.3 years)
Share-based Payment Arrangement, Option, Exercise Price Range, End of Period [Abstract]
Range of option exercise prices: lower range limit (in dollars per share)	$ 100.01
Range of option exercise prices: upper range limit (in dollars per share)	$ 160
Range of option exercise prices: average life	8 years 3 months 19 days
Stock Options | $160.01 - $210.00 (average life - 5.2 years)
Share-based Payment Arrangement, Option, Exercise Price Range, End of Period [Abstract]
Range of option exercise prices: lower range limit (in dollars per share)	$ 160.01
Range of option exercise prices: upper range limit (in dollars per share)	$ 210
Range of option exercise prices: average life	5 years 2 months 12 days
Stock Options | $210.01 - $239.76 (average life - 6.1 years)
Share-based Payment Arrangement, Option, Exercise Price Range, End of Period [Abstract]
Range of option exercise prices: lower range limit (in dollars per share)	$ 210.01
Range of option exercise prices: upper range limit (in dollars per share)	$ 239.76
Range of option exercise prices: average life	6 years 1 month 6 days
Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance (in shares)				2,700,000
Number of shares available for grant (in shares)	700,000	1,400,000	1,600,000
Years of service eligible for continued vesting	60 years
Age to be attained allowing for continued vesting	10 years
Share-based payment expense	$ 38,200,000	$ 29,200,000	$ 32,300,000
Stock Incentive Plan | $40.01 - $100.00 (average life - 2.1 years)
Share-based Payment Arrangement, Option, Exercise Price Range, End of Period [Abstract]
Range of option exercise prices: Number of Shares, Outstanding	100,000
Range of option exercise prices: Weighted Average Exercise Price, Outstanding (in dollars per share)	$ 62.25
Range of option exercise prices: Number of Shares, Exercisable	100,000
Range of option exercise prices: Weighted Average Exercise Price, Exercisable (in dollars per share)	$ 62.25
Stock Incentive Plan | $100.01 - $160.00 (average life - 8.3 years)
Share-based Payment Arrangement, Option, Exercise Price Range, End of Period [Abstract]
Range of option exercise prices: Number of Shares, Outstanding	700,000
Range of option exercise prices: Weighted Average Exercise Price, Outstanding (in dollars per share)	$ 123.01
Range of option exercise prices: Number of Shares, Exercisable	200,000
Range of option exercise prices: Weighted Average Exercise Price, Exercisable (in dollars per share)	$ 126.16
Stock Incentive Plan | $160.01 - $210.00 (average life - 5.2 years)
Share-based Payment Arrangement, Option, Exercise Price Range, End of Period [Abstract]
Range of option exercise prices: Number of Shares, Outstanding	100,000
Range of option exercise prices: Weighted Average Exercise Price, Outstanding (in dollars per share)	$ 207.80
Range of option exercise prices: Number of Shares, Exercisable	100,000
Range of option exercise prices: Weighted Average Exercise Price, Exercisable (in dollars per share)	$ 207.80
Stock Incentive Plan | $210.01 - $239.76 (average life - 6.1 years)
Share-based Payment Arrangement, Option, Exercise Price Range, End of Period [Abstract]
Range of option exercise prices: Number of Shares, Outstanding	0
Range of option exercise prices: Weighted Average Exercise Price, Outstanding (in dollars per share)	$ 239.76
Range of option exercise prices: Number of Shares, Exercisable	0
Range of option exercise prices: Weighted Average Exercise Price, Exercisable (in dollars per share)	$ 239.76
Stock Incentive Plan | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment expense	$ 24,600,000	$ 25,100,000	$ 27,900,000
Share-based Compensation Arrangement, Restricted Stock Awards [Abstract]
Share-based compensation vesting period (years)	4 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning of period, Outstanding (in shares)	400,000	400,000	400,000
Granted (in shares)	200,000	200,000	200,000
Vested (in shares)	(100,000)	(200,000)	(200,000)
End of period, Outstanding (in shares)	350,000	400,000	400,000
Weighted Average Grant Date Fair Value Per Share [Roll Forward]
Beginning of period, Outstanding, Weighted Average Grant date Fair Value Per Share (in dollars per share)	$ 156.32	$ 186.63	$ 197.41
Granted, Weighted Average Grant Date Fair Value Per Share (in dollars per share)	122.10	120.73	154.95
Vested, Weighted Average Grant Date Fair Value Per Share (in dollars per share)	171.92	184.60	177.79
End of period, Outstanding, Weighted Average Grant Date Fair Value Per Share (in dollars per share)	$ 134.68	$ 156.32	$ 186.63
Unrecognized compensation cost	$ 26,200,000
Unrecognized compensation cost period of recognition (years)	1 year 7 months 6 days
Total fair value of shares vested	$ 22,800,000	$ 26,900,000	$ 26,600,000
Stock Incentive Plan | Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment expense	$ 4,900,000	$ 2,700,000	$ 3,100,000
Share-based Compensation Arrangement, Restricted Stock Awards [Abstract]
Share-based compensation vesting period (years)	3 years
Weighted Average Grant Date Fair Value Per Share [Roll Forward]
Unrecognized compensation cost	$ 15,200,000
Unrecognized compensation cost period of recognition (years)	1 year 10 months 24 days
Share-based Compensation Arrangement, Stock Options [Abstract]
Award expiration term	10 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Beginning of period, Outstanding, Number of Shares	400,000	300,000	300,000
Granted, Number of Shares	500,000	100,000	0
Stock options exercised (in shares)	0	0	0
End of period, Outstanding, Number of Shares	915,000	400,000	300,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Beginning of period, Outstanding, Weighted average exercise price (in dollars per share)	$ 146.70	$ 154.69	$ 156.43
Granted, Weighted average exercise price (in dollars per share)	121.87	116.40	156.39
Exercised, Weighted average exercise price (in dollars per share)	116.36		115.27
End of period, Outstanding, Weighted average exercise price (in dollars per share)	$ 133.19	$ 146.70	$ 154.69
Exercisable, Number of shares outstanding (in shares)	400,000	300,000	200,000		200,000
Exercisable, Weighted average exercise price (in dollars per share)	$ 151.07	$ 147.51	$ 134.13		$ 106.54
Share-based Payment Arrangement, Option, Exercise Price Range, End of Period [Abstract]
Total intrinsic value of stock options expected to vest			$ 500,000
Stock options exercised (in shares)	0	0	0
Total intrinsic value of stock options outstanding	$ 3,300,000
Total intrinsic value of stock options expected to vest	0
Total intrinsic value of stock options exercisable	3,300,000
Stock Incentive Plan | Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment expense	7,300,000	$ 0	$ 0
Stock Incentive Plan | Director share units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment expense	$ 1,400,000	$ 1,400,000	$ 1,300,000
Supplemental Deferred Savings Plan | Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning of period, Outstanding (in shares)	0	0
End of period, Outstanding (in shares)	67,000	0	0
Weighted Average Grant Date Fair Value Per Share [Roll Forward]
Unrecognized compensation cost	$ 1,900,000
Unrecognized compensation cost period of recognition (years)	2 years 1 month 6 days
Supplemental Deferred Savings Plan | Employee Deferred Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment expense	$ 0	$ 0	$ 0
Share-based Payment Arrangement, Option, Exercise Price Range, End of Period [Abstract]
Deferred compensation, number of share units outstanding	7,500
Supplemental Deferred Savings Plan | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment expense		$ 0	$ 0
Directors' Deferred Compensation Plan | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant (in shares)	320,000	360,000	370,000
Share-based Payment Arrangement, Option, Exercise Price Range, End of Period [Abstract]
Deferred compensation, number of share units outstanding	98,000
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance (in shares)	1,500,000
Number of shares available for grant (in shares)	1,000,000
Share-based Payment Arrangement, Option, Exercise Price Range, End of Period [Abstract]
Employee discount on purchases of common stock	5.00%
Service Options | Stock Incentive Plan | Stock Options
Share-based Compensation Arrangement, Restricted Stock Awards [Abstract]
Share-based compensation vesting period (years)	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Dividend yield	0.40%	0.40%	0.30%
Expected volatility	33.70%	32.80%	30.90%
Risk-free interest rate	1.30%	3.00%	2.00%
Expected life of options	5 years	4 years	4 years
Weighted-average fair value of options (in dollars per share)	$ 34.22	$ 34.06	$ 41.87
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
End of period, Outstanding, Number of Shares	815,000
Market Options | Stock Incentive Plan | Stock Options
Share-based Compensation Arrangement, Restricted Stock Awards [Abstract]
Share-based compensation vesting period (years)	4 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted (in shares)		0	0
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Dividend yield	0.40%
Expected volatility	33.70%
Risk-free interest rate	1.50%
Expected life of options	7 years
Weighted-average fair value of options (in dollars per share)	$ 44.74
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
End of period, Outstanding, Number of Shares	100,000

Pension and Defined Contribut_3

Pension and Defined Contribution Plans (Details) $ in Millions	12 Months Ended
	Aug. 31, 2020USD ($)participant	Aug. 31, 2019USD ($)	Aug. 31, 2018USD ($)
Amounts recognized in the consolidated balance sheets consist of:
Non-current liabilities	$ (91.6)	$ (99.7)
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Contributions to multi-employer plans	0.6	0.5	$ 0.5
Domestic Plans | Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Net periodic pension cost	$ 0	0.4	0
Number of early retirement participants | participant	1
Change in Benefit Obligation:
Benefit obligation at beginning of year	$ 239.2	203.2
Service cost	4.3	2.9	2.7
Interest cost	6.4	7.7	7.3
Amendments	0	11.4
Actuarial losses	8.5	26.2
Settlement gain	0	(3.4)
Benefits paid	(8.8)	(8.8)
Other	0	0
Benefit obligation at end of year	249.6	239.2	203.2
Change in plan assets:
Fair value of plan assets at beginning of year	151.5	149.4
Actual return on plan assets	19	9
Employer contributions	5.4	5.3
Benefits paid	(8.8)	(12.2)
Other	0	0
Fair value of plan assets at end of year	167.1	151.5	149.4
Funded status at end of year:
Funded status at the end of year	(82.5)	(87.7)
Amounts recognized in the consolidated balance sheets consist of:
Current liabilities	(5)	(1.8)
Non-current liabilities	(77.5)	(85.9)
Net amount recognized in consolidated balance sheets	(82.5)	(87.7)
Accumulated benefit obligation	249.1	239.2
Pre-tax amounts in accumulated other comprehensive loss:
Prior service cost	(8.4)	(12.4)
Net actuarial loss	(79.2)	(83.4)
Amounts in accumulated other comprehensive loss	(87.6)	(95.8)
Estimated amounts that will be amortized from accumulated comprehensive income over the next fiscal year:
Prior service cost	2.9	4
Net actuarial loss	4.1	4.1
International Plans | Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Net periodic pension cost	0	0	0
Change in Benefit Obligation:
Benefit obligation at beginning of year	44.6	45.5
Service cost	0.3	0.2	0.2
Interest cost	0.9	1.3	1.3
Amendments	0	0
Actuarial losses	0.7	3.2
Settlement gain	0	0
Benefits paid	(1.4)	(2.6)
Other	4.1	(3)
Benefit obligation at end of year	49.2	44.6	45.5
Change in plan assets:
Fair value of plan assets at beginning of year	30.7	30.9
Actual return on plan assets	1.9	3.1
Employer contributions	0.8	1.2
Benefits paid	(1.4)	(2.6)
Other	3.1	(1.9)
Fair value of plan assets at end of year	35.1	30.7	$ 30.9
Funded status at end of year:
Funded status at the end of year	(14.1)	(13.9)
Amounts recognized in the consolidated balance sheets consist of:
Current liabilities	0	(0.1)
Non-current liabilities	(14.1)	(13.8)
Net amount recognized in consolidated balance sheets	(14.1)	(13.9)
Accumulated benefit obligation	49.2	44.6
Pre-tax amounts in accumulated other comprehensive loss:
Prior service cost	0	0
Net actuarial loss	(13.5)	(13)
Amounts in accumulated other comprehensive loss	(13.5)	(13)
Estimated amounts that will be amortized from accumulated comprehensive income over the next fiscal year:
Prior service cost	0	0
Net actuarial loss	0.6	1.4
Pensions plans in which benefit obligation exceeds plan assets: | Domestic Plans | Pension Plan
Pensions plans in which benefit obligation exceeds plan assets:
Projected benefit obligation	249.6	239.2
Accumulated benefit obligation	249.1	239.2
Plan assets	167.1	151.5
Pensions plans in which benefit obligation exceeds plan assets: | International Plans | Pension Plan
Pensions plans in which benefit obligation exceeds plan assets:
Projected benefit obligation	49.2	44.6
Accumulated benefit obligation	49.2	44.6
Plan assets	$ 35.1	$ 30.7

Pension and Defined Contribut_4

Pension and Defined Contribution Plans - Net Periodic Pension Cost and Pension Plan Asset Allocation (Details) - Pension Plan - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2018
Domestic Plans
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss	$ 4.1	$ 4.1
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	4.3	2.9	$ 2.7
Interest cost	6.4	7.7	7.3
Expected return on plan assets	(10.4)	(10.5)	(10.2)
Amortization of prior service cost	4	3.5	3.1
Settlement	0	0.4	0
Recognized actuarial loss	4.2	2.7	4.5
Net periodic pension cost	$ 8.5	$ 6.7	$ 7.4
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Discount rate	2.20%	2.80%
Rate of compensation increase	5.00%	5.00%
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate	2.80%	3.90%	3.50%
Expected return on plan assets	7.00%	7.30%	7.50%
Rate of compensation increase	5.00%	5.50%	5.50%
Reduction in net periodic pension cost per 100 basis point increase in benefit obligation discount rate	$ 1
Additional net periodic pension cost per 100 basis point decrease in expected return on plan assets rate	$ 1.6
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Pension plan asset allocation, percentage	100.00%	100.00%
Domestic Plans | Equity securities
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Targeted asset allocation, percentage	55.00%
Pension plan asset allocation, percentage	58.20%	53.30%
Domestic Plans | Fixed income securities
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Targeted asset allocation, percentage	40.00%
Pension plan asset allocation, percentage	37.30%	41.80%
Domestic Plans | Real estate
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Targeted asset allocation, percentage	5.00%
Pension plan asset allocation, percentage	4.50%	4.90%
Domestic Plans | Multi-strategy investments
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Pension plan asset allocation, percentage	0.00%	0.00%
International Plans
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss	$ 0.6	$ 1.4
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	0.3	0.2	$ 0.2
Interest cost	0.9	1.3	1.3
Expected return on plan assets	(2)	(1.9)	(2.2)
Amortization of prior service cost	0	0	0
Settlement	0	0	0
Recognized actuarial loss	1.4	1.4	2.3
Net periodic pension cost	$ 0.6	$ 1	$ 1.6
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Discount rate	1.90%	2.00%
Rate of compensation increase	3.00%	3.10%
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate	2.00%	2.90%	2.50%
Expected return on plan assets	6.50%	6.50%	6.50%
Rate of compensation increase	3.00%	3.10%	3.10%
Reduction in net periodic pension cost per 100 basis point increase in benefit obligation discount rate	$ 1
Additional net periodic pension cost per 100 basis point decrease in expected return on plan assets rate	$ 0.3
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Pension plan asset allocation, percentage	100.00%	100.00%
International Plans | Equity securities
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Targeted asset allocation, percentage	75.00%
Pension plan asset allocation, percentage	76.90%	73.00%
International Plans | Fixed income securities
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Targeted asset allocation, percentage	15.00%
Pension plan asset allocation, percentage	13.70%	17.10%
International Plans | Real estate
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Pension plan asset allocation, percentage	0.00%	0.00%
International Plans | Multi-strategy investments
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Targeted asset allocation, percentage	10.00%
Pension plan asset allocation, percentage	9.40%	9.90%

Pension and Defined Contribut_5

Pension and Defined Contribution Plans - Fair Value Measurements and Benefit Payments (Details) $ in Millions	12 Months Ended
	Aug. 31, 2020USD ($)multiemployer_plan	Aug. 31, 2019USD ($)	Aug. 31, 2018USD ($)
Pension Plan
Multiemployer Plan, Pension, Significant [Abstract]
Number of multi-employer plans | multiemployer_plan	2
Contributions to multi-employer plans	$ 0.6	$ 0.5	$ 0.5
Defined Contribution Plan
Defined Benefit Plan, Additional Information [Abstract]
Defined contribution plan, cost recognized	8.2	8.1	8
Common stock included in defined contribution plan, market value	$ 5.9
Common stock included in defined contribution plan as percentage of total fair value of assets in plan	1.50%
Domestic Plans | Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	$ 167.1	151.5	149.4
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]
2021	12.8
2022	11.7
2023	23.3
2024	17.9
2025	13
2026-2030	67.6
Domestic Plans | Pension Plan | Level 1 | Mutual Funds: Domestic large cap equity fund
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	55.6	45.6
Domestic Plans | Pension Plan | Level 1 | Mutual Funds: Foreign equity fund
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	26	20.5
Domestic Plans | Pension Plan | Level 1 | Collective trust: Domestic small cap equities
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	0	0
Domestic Plans | Pension Plan | Level 1 | Short-term fixed income investments
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	5.2	6
Domestic Plans | Pension Plan | Level 2 | Mutual Funds: Domestic large cap equity fund
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	0	0
Domestic Plans | Pension Plan | Level 2 | Mutual Funds: Foreign equity fund
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	0	0
Domestic Plans | Pension Plan | Level 2 | Collective trust: Domestic small cap equities
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	15.7	14.6
Domestic Plans | Pension Plan | Level 2 | Short-term fixed income investments
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	0	0
Domestic Plans | Pension Plan | Level 3 | Mutual Funds: Domestic large cap equity fund
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	0	0
Domestic Plans | Pension Plan | Level 3 | Mutual Funds: Foreign equity fund
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	0	0
Domestic Plans | Pension Plan | Level 3 | Collective trust: Domestic small cap equities
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	0	0
Domestic Plans | Pension Plan | Level 3 | Short-term fixed income investments
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	0	0
Domestic Plans | Pension Plan | Level 1,2 and 3
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	102.5	86.7
Domestic Plans | Pension Plan | Level 1,2 and 3 | Mutual Funds: Domestic large cap equity fund
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	55.6	45.6
Domestic Plans | Pension Plan | Level 1,2 and 3 | Mutual Funds: Foreign equity fund
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	26	20.5
Domestic Plans | Pension Plan | Level 1,2 and 3 | Collective trust: Domestic small cap equities
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	15.7	14.6
Domestic Plans | Pension Plan | Level 1,2 and 3 | Short-term fixed income investments
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	5.2	6
Domestic Plans | Pension Plan | NAV
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	64.6	64.8
Domestic Plans | Pension Plan | NAV | Fixed-income investments
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	57	57.4
Domestic Plans | Pension Plan | NAV | Real estate fund
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	7.6	7.4
International Plans | Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	35.1	30.7	$ 30.9
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]
2021	1.1
2022	1.2
2023	1.2
2024	1.3
2025	1.3
2026-2030	7.5
International Plans | Pension Plan | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	27	22.4
International Plans | Pension Plan | Short-term fixed income investments
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	0.3	0.3
International Plans | Pension Plan | Multi-strategy investments
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	3.3	3
International Plans | Pension Plan | Fixed-income investments
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	4.5	5
International Plans | Pension Plan | Level 1 | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	0	0
International Plans | Pension Plan | Level 1 | Short-term fixed income investments
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	0.3	0.3
International Plans | Pension Plan | Level 1 | Multi-strategy investments
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	0	0
International Plans | Pension Plan | Level 1 | Fixed-income investments
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	0	0
International Plans | Pension Plan | Level 2 | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	27	22.4
International Plans | Pension Plan | Level 2 | Short-term fixed income investments
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	0	0
International Plans | Pension Plan | Level 2 | Multi-strategy investments
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	3.3	3
International Plans | Pension Plan | Level 2 | Fixed-income investments
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	4.5	5
International Plans | Pension Plan | Level 3 | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	0	0
International Plans | Pension Plan | Level 3 | Short-term fixed income investments
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	0	0
International Plans | Pension Plan | Level 3 | Multi-strategy investments
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	0	0
International Plans | Pension Plan | Level 3 | Fixed-income investments
Defined Benefit Plan Disclosure [Line Items]
Total assets at fair value	0	$ 0
Qualified Plan | Domestic Plans | Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Employer expected contribution to defined benefit plans in next fiscal year	1
Qualified Plan | International Plans | Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Employer expected contribution to defined benefit plans in next fiscal year	$ 1.2

Special Charges (Details)

Special Charges (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2018
Restructuring Cost and Reserve [Line Items]
Special charges	$ 20	$ 1.8	$ 5.6
Restructuring Reserve [Roll Forward]
Remaining balance of severance reserve	1.9
Severance costs	9.3
Payments made during the period	(8.2)
Remaining balance of severance reserve	3	1.9
Special Charges
Restructuring Cost and Reserve [Line Items]
Severance and employee-related costs	9.3	(0.5)	5.4
ROU lease asset impairment charges	7.4	0	0
Other restructuring costs	3.3	2.3	0.2
Special charges	20	1.8	$ 5.6
Fiscal 2020 Actions
Restructuring Reserve [Roll Forward]
Remaining balance of severance reserve	0
Severance costs	9.5
Payments made during the period	(6.5)
Remaining balance of severance reserve	3	0
Fiscal 2019 Actions
Restructuring Reserve [Roll Forward]
Remaining balance of severance reserve	1.3
Severance costs	0
Payments made during the period	(1.3)
Remaining balance of severance reserve	0	1.3
Fiscal 2018 Actions
Restructuring Reserve [Roll Forward]
Remaining balance of severance reserve	0.6
Severance costs	(0.2)
Payments made during the period	(0.4)
Remaining balance of severance reserve	$ 0	$ 0.6

Common Stock and Related Matt_3

Common Stock and Related Matters (Details) - USD ($) $ in Millions	12 Months Ended			30 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2020	Mar. 31, 2018
Common Stock [Roll Forward]
Common Stock, Balance beginning of period (in shares)	53,778,155
Common Stock, Balance end of period (in shares)	53,885,165	53,778,155		53,885,165
Common Stock, Amount (at par), Balance beginning of period	$ 0.5
Issuance of restricted stock grants, net of cancellations, Amount	32.7	$ 23.1	$ 23.7
Stock options exercised, Amount	0.1		$ 1.1
Common Stock, Amount (at par), Balance end of period	$ 0.5	$ 0.5		$ 0.5
Treasury Stock Transactions, Excluding Value of Shares Reissued [Abstract]
Remaining repurchased shares recorded as treasury stock	15,012,449	14,325,197		15,012,449
Treasury stock at original repurchase cost	$ 1,227.2	$ 1,156		$ 1,227.2
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Preferred stock authorized (in shares)	50,000,000	50,000,000		50,000,000
Preferred stock, issued (in shares)	0	0		0
Preferred stock, outstanding (in shares)	0	0		0
March 2018 Repurchase Plan
Treasury Stock Transactions, Excluding Value of Shares Reissued [Abstract]
Shares authorized for repurchase (shares)					6,000,000
Reacquired shares of outstanding common stock	700,000			2,100,000
Maximum number of shares that may yet be purchased under the program (shares)	3,900,000			3,900,000
Amount
Common Stock [Roll Forward]
Common Stock, Balance beginning of period (in shares)	53,800,000	53,700,000	53,500,000
Issuance of restricted stock grants, net of cancellations (in shares)	100,000	100,000	200,000
Stock options exercised (in shares)	0		0
Common Stock, Balance end of period (in shares)	53,900,000	53,800,000	53,700,000	53,900,000
Common Stock, Amount (at par), Balance beginning of period	$ 0.5	$ 0.5	$ 0.5
Issuance of restricted stock grants, net of cancellations, Amount	0	0	0
Stock options exercised, Amount	0		0
Common Stock, Amount (at par), Balance end of period	$ 0.5	$ 0.5	$ 0.5	$ 0.5

Common Stock and Related Matt_4

Common Stock and Related Matters - Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Aug. 31, 2020	May 31, 2020	Feb. 29, 2020	Nov. 30, 2019	Aug. 31, 2019	May 31, 2019	Feb. 28, 2019	Nov. 30, 2018	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2018
Earnings per share:
Net income									$ 248.3	$ 330.4	$ 349.6
Basic weighted average shares outstanding (in shares)									39,500,000	39,700,000	40,900,000
Common stock equivalents (in shares)									100,000	100,000	100,000
Diluted weighted average number of shares outstanding (in shares)									39,600,000	39,800,000	41,000,000
Basic earnings per share (in dollars per share)	$ 1.88	$ 1.53	$ 1.45	$ 1.44	$ 2.43	$ 2.23	$ 1.68	$ 1.99	$ 6.29	$ 8.32	$ 8.54
Diluted earnings per share (in dollars per share)	$ 1.87	$ 1.52	$ 1.44	$ 1.44	$ 2.42	$ 2.22	$ 1.67	$ 1.98	$ 6.27	$ 8.29	$ 8.52
Stock Options
Earnings per share:
Stock options excluded from diluted earnings per share (in shares)									598,000	300,000	179,000
Restricted Stock
Earnings per share:
Stock options excluded from diluted earnings per share (in shares)									213,000	160,000	227,000
Performance stock units
Earnings per share:
Stock options excluded from diluted earnings per share (in shares)									0	0	0

Income Taxes - Provision for In

Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2018
Income Tax Disclosure [Abstract]
Provision for current federal taxes	$ 54.6	$ 60.3	$ 88.9
Provision for current state taxes	12.5	14.7	16.4
Provision for current foreign taxes	16	10.2	9.2
(Benefit) provision for deferred taxes	(6.7)	9.3	(38.2)
Total provision for income taxes	$ 76.4	$ 94.5	$ 76.3

Income Taxes (Details)

Income Taxes (Details) - USD ($)	12 Months Ended			24 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2019
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Federal income tax computed at statutory rate	$ 68,200,000	$ 89,200,000	$ 109,400,000
State income tax, net of federal income tax benefit	9,700,000	12,200,000	11,500,000
Foreign permanent differences and rate differential	2,400,000	2,100,000	(2,000,000)
Research and development tax credits	(7,100,000)	(18,100,000)	(3,300,000)
Unrecognized tax benefits	1,800,000	12,200,000	400,000
Other, net	1,400,000	(900,000)	(5,100,000)
Total provision for income taxes	76,400,000	94,500,000	76,300,000
Effective Income Tax Rate Reconciliation, Tax Cuts and Jobs Act, Amount	0	(2,200,000)	(34,600,000)
Deferred income tax liabilities:
Depreciation	(23,300,000)	(22,000,000)		$ (22,000,000)
Goodwill and intangibles	(153,100,000)	(149,600,000)		(149,600,000)
Operating lease right of use asset	(15,600,000)
Other liabilities	(5,300,000)	(2,800,000)		(2,800,000)
Total deferred income tax liabilities	(197,300,000)	(174,400,000)		(174,400,000)
Deferred income tax assets:
Self-insurance	2,100,000	2,600,000		2,600,000
Pension	22,200,000	22,700,000		22,700,000
Deferred compensation	22,200,000	20,500,000		20,500,000
Net operating losses	5,600,000	6,200,000		6,200,000
Other accruals not yet deductible	32,000,000	26,900,000		26,900,000
Operating lease liabilities	18,200,000
Other assets	9,300,000	9,700,000		9,700,000
Total deferred income tax assets	111,600,000	88,600,000		88,600,000
Valuation allowance	(6,500,000)	(4,600,000)		(4,600,000)
Net deferred income tax liabilities	(92,200,000)	(90,400,000)		(90,400,000)
Undistributed earnings and original investments in foreign subsidiaries	144,900,000	144,900,000		144,900,000
Deferred income tax liability for certain foreign withholding taxes and U.S. state taxes	2,900,000
Tax benefit related to the enactment of the TCJA				36,800,000
Tax benefit to decrease deferred income taxes to the revised statutory rate				32,500,000
Current estimated benefit for transition tax				4,300,000
State tax credit carryforwards	1,600,000
Unrecognized tax benefits	17,200,000	16,600,000	$ 4,400,000	16,600,000
Unrecognized tax benefits that if recognized would affect annual effective tax rate	16,700,000	15,900,000		15,900,000
Total accrued interest	1,700,000	$ 1,000,000		$ 1,000,000
Accruals related to income tax penalties	0
Internal Revenue Service (IRS)
Deferred income tax assets:
Operating loss carryforwards	32,000,000
State and Local Jurisdiction
Deferred income tax assets:
Operating loss carryforwards	21,200,000
Foreign Tax Authority
Deferred income tax assets:
Operating loss carryforwards	$ 2,900,000

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Change in Unrecognized Income Tax Benefit (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits balance at beginning of year	$ 16.6	$ 4.4
Additions based on tax positions related to the current year	2.3	2
Additions for tax positions of prior years	0	10.9
Reductions for tax positions of prior years	(0.4)	0
Reductions due to settlements	(1.2)	0
Reductions due to lapse of statute of limitations	(0.1)	(0.7)
Unrecognized tax benefits balance at end of year	$ 17.2	$ 16.6

Supplemental Disaggregated In_3

Supplemental Disaggregated Information (Details) $ in Millions	12 Months Ended
	Aug. 31, 2020USD ($)Segment	Aug. 31, 2019USD ($)	Aug. 31, 2018USD ($)
Geographic Distribution
Number of reportable segments | Segment	1
Net sales	$ 3,326.3	$ 3,672.7	$ 3,680.1
Operating profit:	353.9	462.9	460.8
Income before provision for income taxes:	324.7	424.9	425.9
Long-lived assets	366.1	297.3	308.4
Domestic
Geographic Distribution
Net sales	2,925	3,277.4	3,292.6
Operating profit:	300.6	419.3	419
Income before provision for income taxes:	274.2	386.4	386.4
Long-lived assets	301.2	248.9	256.4
International
Geographic Distribution
Net sales	401.3	395.3	387.5
Operating profit:	53.3	43.6	41.8
Income before provision for income taxes:	50.5	38.5	39.5
Long-lived assets	$ 64.9	$ 48.4	$ 52
Sales of lighting solutions, excluding services | Revenue source
Geographic Distribution
Sales as percentage of total sales (percent)	5.00%	5.00%	5.00%
Lighting and Building Management Solutions | Sales of lighting solutions, excluding services | Revenue source
Geographic Distribution
Sales as percentage of total sales (percent)	99.00%	99.00%	99.00%

Subsequent Event (Details)

Subsequent Event (Details) - shares	2 Months Ended	12 Months Ended	30 Months Ended
	Oct. 22, 2020	Aug. 31, 2020	Aug. 31, 2020	Oct. 23, 2020	Mar. 31, 2018
March 2018 Repurchase Plan
Subsequent Event [Line Items]
Reacquired shares of outstanding common stock		700,000	2,100,000
Shares authorized for repurchase (shares)					6,000,000
Subsequent Event | March 2018 Repurchase Plan
Subsequent Event [Line Items]
Reacquired shares of outstanding common stock	1,700,000
Subsequent Event | October 2020 Repurchase Plan
Subsequent Event [Line Items]
Additional shares authorized for repurchase (shares)				3,800,000
Shares authorized for repurchase (shares)				6,000,000

Quarterly Financial Data (Una_3

Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Aug. 31, 2020	May 31, 2020	Feb. 29, 2020	Nov. 30, 2019	Aug. 31, 2019	May 31, 2019	Feb. 28, 2019	Nov. 30, 2018	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Net sales	$ 891.2	$ 776.2	$ 824.2	$ 834.7	$ 938.1	$ 947.6	$ 854.4	$ 932.6	$ 3,326.3	$ 3,672.7	$ 3,680.1
Gross profit	375.1	327.6	343.9	355.8	394.7	383.6	333.9	367.5	1,402.4	1,479.7	1,485.4
Net income	$ 73.7	$ 60.4	$ 57.2	$ 57	$ 96.1	$ 88.4	$ 66.3	$ 79.6	$ 248.3	$ 330.4	$ 349.6
Basic earnings per share (in dollars per share)	$ 1.88	$ 1.53	$ 1.45	$ 1.44	$ 2.43	$ 2.23	$ 1.68	$ 1.99	$ 6.29	$ 8.32	$ 8.54
Diluted earnings per share (in dollars per share)	$ 1.87	$ 1.52	$ 1.44	$ 1.44	$ 2.42	$ 2.22	$ 1.67	$ 1.98	$ 6.27	$ 8.29	$ 8.52

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts (Details) - Inventory reserves: - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2018
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	$ 22.3	$ 36.8	$ 28.7
Costs and Expenses	36.3	10.7	17.3
Other Accounts	1.8	(0.1)	(0.2)
Deductions	(11.1)	(25.1)	(9)
Balance at End of Year	$ 49.3	$ 22.3	$ 36.8