0001144215-19-000072 | 10-Q | XBRL Viewer

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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	May 31, 2019	Jun. 28, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	ACUITY BRANDS INC
Entity Central Index Key	0001144215
Document Type	10-Q
Document Period End Date	May 31, 2019
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--08-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		39,899,076
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false

Consolidated Balance Sheets - USD ($) $ in Millions	May 31, 2019	Aug. 31, 2018
Current assets:
Cash and cash equivalents	$ 333.7	$ 129.1
Accounts receivable, less reserve for doubtful accounts of $1.3 and $1.3, respectively	586.0	637.9
Inventories	390.6	411.8
Prepayments and other current assets	69.0	32.3
Total current assets	1,379.3	1,211.1
Property, plant, and equipment, at cost:
Land	22.7	22.9
Buildings and leasehold improvements	190.0	189.1
Machinery and equipment	539.0	516.6
Total property, plant, and equipment	751.7	728.6
Less — Accumulated depreciation and amortization	(471.2)	(441.9)
Property, plant, and equipment, net	280.5	286.7
Goodwill	964.1	970.6
Intangible assets, net	473.1	498.7
Deferred income taxes	2.8	2.9
Other long-term assets	21.3	18.8
Total assets	3,121.1	2,988.8
Current liabilities:
Accounts payable	378.8	451.1
Current maturities of long-term debt	9.1	0.4
Accrued compensation	66.4	67.0
Other accrued liabilities	176.7	164.2
Total current liabilities	631.0	682.7
Long-term debt	347.5	356.4
Accrued pension liabilities	61.9	64.6
Deferred income taxes	89.6	92.5
Self-insurance reserves	7.5	7.9
Other long-term liabilities	98.7	67.9
Total liabilities	1,236.2	1,272.0
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.01 par value; 50,000,000 shares authorized; none issued	0.0	0.0
Common stock, $0.01 par value; 500,000,000 shares authorized; 53,754,706 and 53,667,327 issued, respectively	0.5	0.5
Paid-in capital	924.7	906.3
Retained earnings	2,204.9	1,999.2
Accumulated other comprehensive loss	(122.1)	(114.8)
Treasury stock, at cost — 14,075,197 and 13,676,689 shares, respectively	(1,123.1)	(1,074.4)
Total stockholders’ equity	1,884.9	1,716.8
Total liabilities and stockholders’ equity	$ 3,121.1	$ 2,988.8

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	May 31, 2019	Aug. 31, 2018
Current assets:
Allowance for doubtful accounts	$ 1.3	$ 1.3
Stockholders’ equity:
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (shares)	50,000,000	50,000,000
Preferred stock, shares issued (shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (shares)	500,000,000	500,000,000
Common stock, shares issued (shares)	53,754,706	53,667,327
Treasury stock, shares (shares)	14,075,197	13,676,689

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	May 31, 2019	May 31, 2018	May 31, 2019	May 31, 2018
Income Statement [Abstract]
Net sales	$ 947.6	$ 944.0	$ 2,734.6	$ 2,618.9
Cost of products sold	564.0	554.9	1,649.6	1,545.4
Gross profit	383.6	389.1	1,085.0	1,073.5
Selling, distribution, and administrative expenses	263.4	271.8	751.1	745.7
Special charge	(0.1)	9.9	1.3	10.7
Operating profit	120.3	107.4	332.6	317.1
Other expense (income):
Interest expense, net	8.3	8.4	25.6	24.5
Miscellaneous expense (income), net	0.2	(0.2)	2.6	3.8
Total other expense	8.5	8.2	28.2	28.3
Income before income taxes	111.8	99.2	304.4	288.8
Income tax expense	23.4	26.2	70.1	47.4
Net income	$ 88.4	$ 73.0	$ 234.3	$ 241.4
Earnings per share:
Basic earnings per share (in dollars per share)	$ 2.23	$ 1.81	$ 5.89	$ 5.86
Basic weighted average number of shares outstanding (in shares)	39.7	40.4	39.8	41.2
Diluted earnings per share (in dollars per share)	$ 2.22	$ 1.80	$ 5.87	$ 5.85
Diluted weighted average number of shares outstanding (in shares)	39.8	40.5	39.9	41.3
Dividends declared per share (in dollars per share)	$ 0.13	$ 0.13	$ 0.39	$ 0.39
Comprehensive income:
Net income	$ 88.4	$ 73.0	$ 234.3	$ 241.4
Other comprehensive income (loss) items:
Foreign currency translation adjustments	(8.7)	(7.6)	(12.6)	(15.6)
Defined benefit plans, net of tax	1.3	1.9	5.3	5.3
Other comprehensive loss, net of tax	(7.4)	(5.7)	(7.3)	(10.3)
Comprehensive income	$ 81.0	$ 67.3	$ 227.0	$ 231.1

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	May 31, 2019	May 31, 2018
Cash flows from operating activities:
Net income	$ 234.3	$ 241.4
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization	65.7	58.5
Share-based payment expense	22.9	24.4
Loss on sale or disposal of property, plant, and equipment	0.6	0.1
Deferred income taxes	0.2	(32.0)
Change in assets and liabilities, net of effect of acquisitions, divestitures, and exchange rate changes:
Accounts receivable	72.1	6.5
Inventories	20.5	(66.4)
Prepayments and other current assets	(23.6)	0.6
Accounts payable	(71.5)	62.9
Other current liabilities	(21.6)	(2.6)
Other	12.4	6.3
Net cash provided by operating activities	312.0	299.7
Cash flows from investing activities:
Purchases of property, plant, and equipment	(39.8)	(32.2)
Acquisition of businesses, net of cash acquired	0.0	(163.5)
Other investing activities	2.9	1.0
Net cash used for investing activities	(36.9)	(194.7)
Cash flows from financing activities:
Borrowings on credit facility	86.5	237.3
Repayments of borrowings on credit facility	(86.5)	(236.1)
Repayments of long-term debt	(0.3)	(0.3)
Repurchases of common stock	(48.7)	(298.4)
Proceeds from stock option exercises and other	0.5	1.6
Payments of taxes withheld on net settlement of equity awards	(4.9)	(7.2)
Dividends paid	(15.6)	(16.2)
Net cash used for financing activities	(69.0)	(319.3)
Effect of exchange rate changes on cash and cash equivalents	(1.5)	(2.5)
Net change in cash and cash equivalents	204.6	(216.8)
Cash and cash equivalents at beginning of period	129.1	311.1
Cash and cash equivalents at end of period	333.7	94.3
Supplemental cash flow information:
Income taxes paid during the period	89.0	101.5
Interest paid during the period	$ 24.8	$ 23.7

Description of Business and Basis of Presentation	9 Months Ended
Description of Business and Basis of Presentation	May 31, 2019
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 one of the world’s leading providers of lighting and building management solutions and services for commercial, institutional, industrial, infrastructure, and residential applications throughout North America and select international markets. Our lighting and building management solutions include devices such as luminaires, lighting controls, controllers 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 expand our solutions portfolio, including software and services, to provide a host of other economic benefits resulting from data analytics that enables the Internet of Things (“IoT”), supports the advancement of smart buildings, smart cities, and the smart grid, and allows businesses to develop custom applications to scale their operations. We have one reportable segment serving the North American lighting market and select international markets. We prepared the Consolidated Financial Statements in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) to present the financial position, results of operations, and cash flows of Acuity Brands and its wholly-owned subsidiaries. These unaudited interim consolidated financial statements reflect all normal and recurring adjustments that are, in the opinion of management, necessary to present fairly our consolidated financial position as of May 31, 2019, our consolidated comprehensive income for the three and nine months ended May 31, 2019 and 2018, and our consolidated cash flows for the nine months ended May 31, 2019 and 2018. Certain information and footnote disclosures normally included in our annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. However, we believe that the disclosures included herein are adequate to make the information presented not misleading. These financial statements should be read in conjunction with the audited consolidated financial statements of the Company as of and for the three years ended August 31, 2018 and notes thereto included in our Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on October 25, 2018 (File No. 001-16583) (“Form 10-K”). The results of operations for the three and nine months ended May 31, 2019 and 2018 are not necessarily indicative of the results to be expected for the full fiscal year due primarily to seasonality, which results in our net sales and net income generally being higher in the second half of our fiscal year, the impact of any acquisitions, and, among other reasons, the continued uncertainty of general economic conditions that may impact our key end markets for the remainder of fiscal 2019.

Significant Accounting Policies	9 Months Ended
Significant Accounting Policies	May 31, 2019
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies 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. Reclassifications Certain prior-period amounts have been reclassified to conform to the current year presentation. No material reclassifications occurred during the current period. Refer to the New Accounting Pronouncements footnote for additional information regarding retrospective reclassifications related to accounting standards adopted in the current year.

Acquisitions and Investments	9 Months Ended
Acquisitions and Investments	May 31, 2019
Business Combinations [Abstract]
Acquisitions and Investments	Acquisitions and Investments No acquisitions were completed during the first nine months of fiscal 2019. The following discussion relates to acquisitions completed during fiscal 2018. 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 is headquartered in Tucson, Arizona and 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 is headquartered in Oakland, California and 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 Fiscal 2018 Acquisitions Acquisition-related costs were expensed as incurred. Amounts related to the acquisition accounting for these acquisitions are reflected in the Consolidated Balance Sheets. The aggregate purchase price of these acquisitions reflects total goodwill and identified intangible assets of approximately $76.8 million and $81.8 million, respectively, as of May 31, 2019. Identified intangible assets consist of indefinite-lived marketing-related intangibles as well as definite-lived customer-based and technology-based assets, which have a weighted average useful life of approximately 14 years. As of May 31, 2019, we have finalized the acquisition accounting for Lucid and IOTA. There were no material changes to our financial statements as a result of the finalization of the acquisition accounting for Lucid or IOTA.

New Accounting Pronouncements

9 Months Ended

May 31, 2019

Accounting Changes and Error Corrections [Abstract]

New Accounting Pronouncements

Accounting Standards Adopted in Fiscal 2019

ASU 2017-01 -— Clarifying the Definition of a Business

In January 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business (“ASU 2017-01”), which requires an evaluation of whether substantially all of the fair value of assets obtained in an acquisition is concentrated in a single identifiable asset or a group of similar identifiable assets. If so, the transaction does not qualify as a business. The guidance also requires an acquired business to include at least one substantive process and narrows the definition of outputs. We adopted ASU 2017-01 effective September 1, 2018 and applied the guidance prospectively. The provisions of ASU 2017-01 did not have a material effect on our financial condition, results of operations, or cash flows.

ASU 2016-15 — Statement of Cash Flows

In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (“ASU 2016-15”), which is intended to reduce the diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. These cash flows include debt prepayment and extinguishment costs, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, and proceeds from the settlement of corporate-owned life insurance. We adopted ASU 2016-15 effective September 1, 2018 and applied the changes retrospectively. We maintain life insurance policies on certain former employees primarily to satisfy obligations under certain deferred compensation plans. As required by the standard, proceeds from these policies are now classified as cash inflows from investing activities. We received $0.8 million and $1.0 million from corporate-owned life insurance policies during the nine months ended May 31, 2019 and 2018, respectively. As such, cash flows from operations for the nine months ended May 31,

2018 decreased $1.0 million, with a corresponding increase to cash flows from investing activities, compared to amounts previously reported. The remaining provisions of ASU 2016-15 did not impact our financial statements for the periods presented.

ASU 2017-07 — Presentation of Net Periodic Pension Cost

In March 2017, the FASB issued ASU No. 2017-07, Compensation — Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost (“ASU 2017-07”), which changes the presentation of net periodic pension cost related to employer sponsored defined benefit plans and other postretirement benefits. Service cost is now included within the same income statement line item as other compensation costs arising from services rendered during the period, while other components of net periodic pension cost are presented separately outside of operating income. Additionally, only service costs may be capitalized in assets. We adopted ASU 2017-07 effective as of September 1, 2018. We applied the standard retrospectively for the presentation of the service cost component and the other components of net periodic pension cost within our income statements. As a practical expedient, we used amounts previously disclosed in the Pension and Defined Contribution Plans footnote of the Notes to Consolidated Financial Statements within our Form 10-K as the basis for retrospective application because amounts capitalized in inventory at a given point in time are de minimis and determining these amounts was impractical. Upon adoption of ASU 2017-07, our previously reported Operating profit for the three and nine months ended May 31, 2018 increased $1.5 million and $4.6 million, respectively, with a corresponding increase to Miscellaneous expense (income), net. The provisions of ASU 2017-07 have no impact to our net income or earnings per share.

The impact of the provisions of ASU 2017-07 on the Consolidated Statement of Comprehensive Income for the three and nine months ended May 31, 2018 are as follows (in millions):



	Three Months Ended May 31, 2018									Nine Months Ended May 31, 2018
	As Revised			Previously Reported			Higher (Lower)			As Revised		Previously Reported			Higher (Lower)
Cost of products sold	$	554.9		$	554.6		$	0.3		$	1,545.4	$	1,544.4		$	1.0
Selling, distribution, and administrative expenses	271.8			273.6			(1.8		)	745.7		751.3			(5.6		)
Miscellaneous expense (income), net	(0.2		)	(1.7		)	1.5			3.8		(0.8		)	4.6

ASC 606 — Revenue from Contracts with Customers

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which replaced the existing revenue recognition guidance in U.S. GAAP. Since the issuance of ASU 2014-09, the FASB released several amendments to improve and clarify the implementation guidance, as well as to change the effective date. These standards have been collectively codified within Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers (“ASC 606”). ASC 606 outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. The standard also requires additional disclosures about the nature, timing, and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in those judgments.

We adopted ASC 606 effective September 1, 2018 using the modified retrospective method and recognized a cumulative effect of applying ASC 606 of $13.0 million in Retained earnings on the Consolidated Balance Sheet as of this date. We applied the standard to all contracts as of the transition date. Information for prior years presented has not been restated and continues to reflect the authoritative accounting standards in effect for those periods.

Adjustments related to the adoption of ASC 606 include additional deferrals of revenue recognition for service-type warranties and the gross presentation of right of return assets and refund liabilities for sales with a right of return. The effects of the adoption of ASC 606 on our Consolidated Statement of Comprehensive Income for the three and nine months ended May 31, 2019, and the Consolidated Balance Sheet as of May 31, 2019 are as follows (in millions except per share amounts):



Consolidated Statement of Comprehensive Income	Three Months Ended May 31, 2019							Nine Months Ended May 31, 2019
	As Currently Reported		Without ASC 606 Adoption		Higher (Lower)			As Currently Reported		Without ASC 606 Adoption		Higher (Lower)
Net sales	$	947.6	$	951.4	$	(3.8	)	$	2,734.6	$	2,742.4	$	(7.8	)
Cost of products sold	564.0		566.2		(2.2		)	1,649.6		1,653.6		(4.0		)
Selling, distribution, and administrative expenses	263.4		263.4		—			751.1		750.9		0.2
Operating profit	120.3		121.9		(1.6		)	332.6		336.6		(4.0		)
Income tax expense	23.4		23.8		(0.4		)	70.1		71.1		(1.0		)
Net income	88.4		89.6		(1.2		)	234.3		237.3		(3.0		)

Basic earnings per share	$	2.23	$	2.26	$	(0.03	)	$	5.89	$	5.97	$	(0.08	)
Diluted earnings per share	2.22		2.25		(0.03		)	5.87		5.95		(0.08		)



Consolidated Balance Sheet	May 31, 2019
	As Currently Reported		Without ASC 606 Adoption	Higher (Lower)
Accounts receivable, net	$	586.0	564.7	$	21.3
Prepayments and other current assets	69.0		53.7	15.3
Other accrued liabilities	176.7		139.8	36.9
Deferred income tax liabilities	89.6		94.8	(5.2		)
Other long-term liabilities	98.7		77.8	20.9
Retained earnings	2,204.9		2,220.9	(16.0		)

Accounting Standards Yet to Be Adopted

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. The provisions of ASU 2016-13 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 will adopt the amendments as required in fiscal 2021. The provisions of ASU 2016-13 are not expected to have a material effect on our financial condition, results of operations, or cash flows.

In February 2016, the FASB issued ASU No. 2016-02, Leases (“ASU 2016-02”), which requires lessees to include most leases on the balance sheet. ASU 2016-02 is effective for fiscal years (and interim reporting periods within those years) beginning after December 15, 2018. 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 (“ASC 842”). The standard allows entities to present the effects of the accounting change as either a cumulative adjustment as of the beginning of the earliest period presented or as of the date of adoption. We have an implementation team tasked with reviewing our lease obligations 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. Currently, the implementation team has substantially completed its review of outstanding property and equipment leases, which represent our primary outstanding lease obligations. The team is in the process of reviewing and analyzing other contracts that may have ASC 842 impacts, including information technology contracts. The implementation team reports 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. Based on our current lease portfolio, we preliminarily expect ASC 842 to have a material impact on our consolidated balance sheets primarily related to the recognition of operating lease assets and liabilities. However, we do not expect the standard to have a material impact on our consolidated statements of comprehensive income or cash flows. Further details regarding our undiscounted future lease payments as well as the timing of those payments are included within the Commitments and Contingencies footnote of the Notes to Consolidated Financial Statements within our Form 10-K. We will adopt the standard as required on September 1, 2019.

All other newly issued accounting pronouncements not yet effective have been deemed either immaterial or not applicable.

Revenue Recognition

9 Months Ended

May 31, 2019

Revenue from Contract with Customer [Abstract]

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 based on 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.

Total refund liabilities recorded under ASC 606 related to rights of return, cash discounts, and other miscellaneous credits to customers were $38.8 million and $41.2 million as of May 31, 2019 and September 1, 2018, 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 $15.3 million and $16.4 million as of May 31, 2019 and September 1, 2018, respectively.

We also maintain one-time or ongoing marketing and trade-promotion programs with certain customers that require us to estimate and accrue the expected costs of such programs. These arrangements include 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. The refund liabilities associated with these programs totaled $31.8 million and $43.9 million as of May 31, 2019 and September 1, 2018, 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 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 tangible goods such as luminaires, lighting controllers, controllers 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 at the time of shipment. For sales designated free on board destination, customers take control 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 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 as of May 31, 2019 and September 1, 2018 consists of the following (in millions):



	May 31, 2019		September 1, 2018
Current deferred revenues	$	8.5	$	4.8
Non-current deferred revenues	43.7		35.0

Current deferred revenues primarily consist of customer prepayments, software licenses, and to a lesser extent professional service and sales-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 nine months ended May 31, 2019 totaled $3.7 million.

Unsatisfied performance obligations that do not represent contract liabilities consist primarily of orders for physical goods that have not yet been shipped. This backlog of orders at any given time is affected by various factors, including seasonality, cancellations, sales promotions, production cycle times, and the timing of receipt and shipment of orders, which are usually shipped within a few weeks of order receipt. Accordingly, a comparison of backlog orders from period to period is not necessarily meaningful and may not be indicative of future shipments.

Disaggregated Revenues

Our lighting and building management 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 for the three and nine months ended May 31, 2019 (in millions):



	Three Months Ended		Nine Months Ended
	May 31, 2019		May 31, 2019
Independent sales network	$	650.3	$	1,871.4
Direct sales network	97.2		283.5
Retail sales	58.7		217.8
Corporate accounts	97.1		224.5
Other	44.3		137.4
Total	$	947.6	$	2,734.6

Fair Value Measurements

9 Months Ended

May 31, 2019

Fair Value Disclosures [Abstract]

Fair Value Measurements

We determine fair value measurements based on the assumptions a market participant would use in pricing an asset or liability. ASC 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).

Our cash and cash equivalents (Level 1), which are required to be carried at fair value and measured on a recurring basis, were $333.7 million and $129.1 million as of May 31, 2019 and August 31, 2018, respectively.

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 used 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.

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 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 of our financial instruments were as follows at May 31, 2019 and August 31, 2018 (in millions):



	May 31, 2019				August 31, 2018
	Carrying Value		Fair Value		Carrying Value		Fair Value
Senior unsecured public notes, net of unamortized discount and deferred costs	$	349.8	$	355.1	$	349.5	$	361.7
Industrial revenue bond	4.0		4.0		4.0		4.0
Bank loans	2.8		3.0		3.3		3.3

The senior unsecured public notes are carried at the outstanding balance, net of unamortized bond discount and deferred costs, 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).

The industrial revenue bond is carried at the outstanding balance as of the end of the reporting period. The industrial revenue bond is a tax-exempt, variable-rate instrument that resets on a weekly basis; therefore, we estimate that the face amount of the bond approximates fair value as of May 31, 2019 based on bonds 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).

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.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Goodwill and Intangible Assets

9 Months Ended

May 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

odwill and Intangible Assets

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.

We recorded amortization expense of $7.7 million and $7.2 million during the three months ended May 31, 2019 and 2018, respectively, and $23.1 million and $20.5 million during the nine months ended May 31, 2019 and 2018, respectively. Amortization expense is generally recorded on a straight-line basis and is expected to be approximately $30.7 million in fiscal 2019, $30.7 million in fiscal 2020, $27.9 million in fiscal 2021, $27.0 million in fiscal 2022, and $25.8 million in fiscal 2023.

The changes in the carrying amount of goodwill during the nine months ended May 31, 2019 and 2018 are summarized below (in millions):



	Nine Months Ended
	May 31, 2019			May 31, 2018
Beginning balance	$	970.6		$	900.9
Additions from acquired businesses	—			75.7
Adjustments to provisional amounts	(0.2		)	—
Foreign currency translation adjustments	(6.3		)	(6.1		)
Ending balance	$	964.1		$	970.5

Further discussion of goodwill and other intangible assets is included within the Significant Accounting Policies footnote of the Notes to Consolidated Financial Statements within our Form 10-K.

Inventories

9 Months Ended

May 31, 2019

Inventory Disclosure [Abstract]

Inventories

Inventories include materials, 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 (in millions):



	May 31, 2019			August 31, 2018
Raw materials, supplies, and work in process ⁽¹⁾	$	178.9		$	196.8
Finished goods	240.3			251.8
Inventories excluding reserves	419.2			448.6
Less: Reserves	(28.6		)	(36.8		)
Total inventories	$	390.6		$	411.8

_______________________________________

⁽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.

Earnings Per Share

9 Months Ended

May 31, 2019

Earnings Per Share [Abstract]

Earnings per Share

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. 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 for the three and nine months ended May 31, 2019 and 2018 (in millions, except per share data):



	Three Months Ended				Nine Months Ended
	May 31, 2019		May 31, 2018		May 31, 2019		May 31, 2018
Net income	$	88.4	$	73.0	$	234.3	$	241.4
Basic weighted average shares outstanding	39.7		40.4		39.8		41.2
Common stock equivalents	0.1		0.1		0.1		0.1
Diluted weighted average shares outstanding	39.8		40.5		39.9		41.3
Basic earnings per share	$	2.23	$	1.81	$	5.89	$	5.86
Diluted earnings per share	$	2.22	$	1.80	$	5.87	$	5.85

The following table presents stock options and restricted stock awards that were excluded from the diluted earnings per share calculation for the three and nine months ended May 31, 2019 and 2018 as the effect of inclusion would have been antidilutive:



	Three Months Ended		Nine Months Ended
	May 31, 2019	May 31, 2018	May 31, 2019	May 31, 2018
Stock options	283,731	239,230	297,445	179,385
Restricted stock awards	107,800	240,783	169,672	257,617

Further discussion of our stock options and restricted stock awards is included within the Common Stock and Related Matters and Share-based Payments footnotes of the Notes to Consolidated Financial Statements within our Form 10-K.

Changes in Stockholders' Equity

9 Months Ended

May 31, 2019

Equity [Abstract]

Changes in Stockholders' Equity

The following tables summarize changes in the components of stockholders' equity for the three and nine months ended May 31, 2019 and 2018 (in millions):



	Common Stock Outstanding
	Shares		Amount		Paid-in Capital		Retained Earnings			Accumulated Other Comprehensive Loss			Treasury Stock, at cost			Total
Balance, August 31, 2018	40.0		$	0.5	$	906.3	$	1,999.2		$	(114.8	)	$	(1,074.4	)	$	1,716.8
Net income	—		—		—		79.6			—			—			79.6
Other comprehensive loss	—		—		—		—			(6.2		)	—			(6.2		)
ASC 606 adjustments	—		—		—		(13.0		)	—			—			(13.0		)
Amortization, issuance, and cancellations of restricted stock grants	0.1		—		3.8		—			—			—			3.8
Employee stock purchase plan issuances	—		—		0.1		—			—			—			0.1
Cash dividends of $0.13 per share paid on common stock	—		—		—		(5.2		)	—			—			(5.2		)
Repurchases of common stock	(0.2	)	—		—		—			—			(25.0		)	(25.0		)
Balance, November 30, 2018	39.9		0.5		910.2		2,060.6			(121.0		)	(1,099.4		)	1,750.9
Net income	—		—		—		66.3			—			—			66.3
Other comprehensive income	—		—		—		—			6.3			—			6.3
Amortization, issuance, and cancellations of restricted stock grants	—		—		7.1		—			—			—			7.1
Employee stock purchase plan issuances	—		—		0.2		—			—			—			0.2
Cash dividends of $0.13 per share paid on common stock	—		—		—		(5.3		)	—			—			(5.3		)
Repurchases of common stock	(0.2	)	—		—		—			—			(23.7		)	(23.7		)
Balance, February 28, 2019	39.7		0.5		917.5		2,121.6			(114.7		)	(1,123.1		)	1,801.8
Net income	—		—		—		88.4			—			—			88.4
Other comprehensive loss	—		—		—		—			(7.4		)	—			(7.4		)
Amortization, issuance, and cancellations of restricted stock grants	—		—		7.0		—			—			—			7.0
Employee stock purchase plan issuances	—		—		0.2		—			—			—			0.2
Cash dividends of $0.13 per share paid on common stock	—		—		—		(5.1		)	—			—			(5.1		)
Balance, May 31, 2019	39.7		$	0.5	$	924.7	$	2,204.9		$	(122.1	)	$	(1,123.1	)	$	1,884.9



	Common Stock Outstanding
	Shares		Amount		Paid-in Capital		Retained Earnings			Accumulated Other Comprehensive Loss			Treasury Stock, at cost			Total
Balance, August 31, 2017	41.8		$	0.5	$	881.0	$	1,659.9		$	(99.7	)	$	(776.1	)	$	1,665.6
Net income	—		—		—		71.5			—			—			71.5
Other comprehensive loss	—		—		—		—			(8.9		)	—			(8.9		)
Amortization, issuance, and cancellations of restricted stock grants	0.1		—		2.5		—			—			0.1			2.6
Employee stock purchase plan issuances	—		—		0.2		—			—			—			0.2
Cash dividends of $0.13 per share paid on common stock	—		—		—		(5.5		)	—			—			(5.5		)
Stock options exercised	—		—		0.6		—			—			—			0.6
Balance, November 30, 2017	41.9		0.5		884.3		1,725.9			(108.6		)	(776.0		)	1,726.1
Net income	—		—		—		96.9			—			—			96.9
Other comprehensive income	—		—		—		—			4.3			—			4.3
Reclassification of stranded tax effects of the TCJA ⁽¹⁾	—		—		—		11.1			(11.1		)	—			—
Amortization, issuance, and cancellations of restricted stock grants	0.1		—		7.6		—			—			—			7.6
Employee stock purchase plan issuances	—		—		0.1		—			—			—			0.1
Cash dividends of $0.13 per share paid on common stock	—		—		—		(5.4		)	—			—			(5.4		)
Stock options exercised	—		—		0.5		—			—			—			0.5
Repurchases of common stock	(1.2	)	—		—		—			—			(194.3		)	(194.3		)
Balance, February 28, 2018	40.8		0.5		892.5		1,828.5			(115.4		)	(970.3		)	1,635.8
Net income	—		—		—		73.0			—			—			73.0
Other comprehensive loss	—		—		—		—			(5.7		)	—			(5.7		)
Amortization, issuance, and cancellations of restricted stock grants	—		—		6.5		—			—			—			6.5
Employee stock purchase plan issuances	—		—		0.2		—			—			—			0.2
Cash dividends of $0.13 per share paid on common stock	—		—		—		(5.3		)	—			—			(5.3		)
Repurchases of common stock	(0.8	)	—		—		—			—			(104.1		)	(104.1		)
Balance, May 31, 2018	40.0		$	0.5	$	899.2	$	1,896.2		$	(121.1	)	$	(1,074.4	)	$	1,600.4

______________________________________

⁽¹⁾See Income Taxes footnote of the Notes to Consolidated Financial Statements within our Form 10-K for additional details.

Comprehensive Income

9 Months Ended

May 31, 2019

Equity [Abstract]

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 before tax amounts of the defined benefit pension plan items reclassified from Accumulated other comprehensive loss are included in Miscellaneous expense, net on the Consolidated Statements of Comprehensive Income. See the Pension Plans footnote within the Notes to Consolidated Financial Statements for additional details.

The following table presents the changes in each component of accumulated other comprehensive loss during the nine months ended May 31, 2019 and 2018 (in millions):



	Foreign Currency Items			Defined Benefit Pension Plans			Accumulated Other Comprehensive Loss Items
Balance at August 31, 2018	$	(53.9	)	$	(60.9	)	$	(114.8	)
Other comprehensive (loss) income before reclassifications	(12.6		)	0.9			(11.7		)
Amounts reclassified from accumulated other comprehensive loss	—			4.4			4.4
Net current period other comprehensive (loss) income	(12.6		)	5.3			(7.3		)
Balance at May 31, 2019	$	(66.5	)	$	(55.6	)	$	(122.1	)



	Foreign Currency Items			Defined Benefit Pension Plans			Accumulated Other Comprehensive Loss Items
Balance at August 31, 2017	$	(28.7	)	$	(71.0	)	$	(99.7	)
Other comprehensive loss before reclassifications	(15.6		)	—			(15.6		)
Amounts reclassified from accumulated other comprehensive loss	—			5.3			5.3
Net current period other comprehensive (loss) income	(15.6		)	5.3			(10.3		)
Reclassification of stranded tax effects of TCJA ⁽¹⁾	—			(11.1		)	(11.1		)
Balance at May 31, 2018	$	(44.3	)	$	(76.8	)	$	(121.1	)

______________________________________

⁽¹⁾See Income Taxes footnote of the Notes to Consolidated Financial Statements within our Form 10-K for additional details.

The following table presents the tax expense or benefit allocated to each component of other comprehensive loss for the three and nine months ended May 31, 2019 and 2018 (in millions):



	Three Months Ended
	May 31, 2019									May 31, 2018
	Before Tax Amount			Tax (Expense) Benefit			Net of Tax Amount			Before Tax Amount			Tax (Expense) Benefit			Net of Tax Amount
Foreign currency translation adjustments	$	(8.7	)	$	—		$	(8.7	)	$	(7.6	)	$	—		$	(7.6	)
Defined benefit pension plans:
Amortization of defined benefit pension items:
Prior service cost	0.8			(0.2		)	0.6			0.8			(0.1		)	0.7
Actuarial losses	1.0			(0.3		)	0.7			1.7			(0.5		)	1.2
Total defined benefit pension plans, net	1.8			(0.5		)	1.3			2.5			(0.6		)	1.9
Other comprehensive loss	$	(6.9	)	$	(0.5	)	$	(7.4	)	$	(5.1	)	$	(0.6	)	$	(5.7	)



	Nine Months Ended
	May 31, 2019									May 31, 2018
	Before Tax Amount			Tax (Expense) Benefit			Net of Tax Amount			Before Tax Amount			Tax (Expense) Benefit			Net of Tax Amount
Foreign currency translation adjustments	$	(12.6	)	$	—		$	(12.6	)	$	(15.6	)	$	—		$	(15.6	)
Defined benefit pension plans:
Actuarial gain or loss	1.3			(0.4		)	0.9			—			—			—
Amortization of defined benefit pension items:
Prior service cost	2.3			(0.5		)	1.8			2.4			(0.7		)	1.7
Actuarial losses	3.1			(0.8		)	2.3			5.1			(1.5		)	3.6
Settlement losses	0.4			(0.1		)	0.3			—			—			—
Total defined benefit pension plans, net	7.1			(1.8		)	5.3			7.5			(2.2		)	5.3
Other comprehensive loss	$	(5.5	)	$	(1.8	)	$	(7.3	)	$	(8.1	)	$	(2.2	)	$	(10.3	)

Debt and Lines of Credit

9 Months Ended

May 31, 2019

Debt Disclosure [Abstract]

Debt and Lines of Credit

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 unsecured delayed draw term loan facility (“Term Loan Facility”). We had no borrowings outstanding under the current Revolving Credit Facility or Term Loan Facility as of May 31, 2019. Additionally, we had no borrowings outstanding under our previous credit facility as of August 31, 2018.

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 London Interbank Offered Rate (“LIBOR”) or screen rate 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 allows for borrowings to be drawn over a period ending December 31, 2019, utilizing up to four separate installments, which are U.S. dollar denominated. Borrowings under the Term Loan Facility will 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 or screen rate 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 0.25% 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 May 31, 2019. At May 31, 2019, we had additional borrowing capacity under the Credit Agreement of $794.7 million under the most restrictive covenant in effect at the time, which represents the full amount of the Revolving Credit Facility and the Term Loan Facility less the outstanding letters of credit of $5.3 million issued under the Revolving Credit Facility. As of May 31, 2019, we had outstanding letters of credit totaling $9.5 million, primarily for securing collateral requirements under our casualty insurance programs and for providing credit support for our industrial revenue bond, which includes the $5.3 million issued under the Revolving Credit Facility.

Long-term Debt

At May 31, 2019, we had $350.0 million of publicly-traded, senior unsecured notes outstanding at a 6% interest rate that are scheduled to mature in December 2019 (the “Unsecured Notes”). Although the Unsecured Notes will mature within one year from May 31, 2019, we have the ability and intent to refinance these borrowings using availability under our Term Loan Facility, subject to satisfying the applicable conditions precedent. Currently, we plan to refinance the Unsecured Notes in full at maturity with borrowings under the Term Loan Facility, of which $341.1 million of the current carrying value of the Unsecured Notes would be due more than one year from the anticipated refinancing date. As such, this amount is reflected within Long-term debt on the Consolidated Balance Sheets as of May 31, 2019. We also had $4.0 million of tax-exempt industrial revenue bonds that are scheduled to mature in 2021 and $2.8 million

outstanding under fixed-rate bank loans outstanding at May 31, 2019. Further discussion of our long-term debt is included within the Debt and Lines of Credit footnote of the Notes to Consolidated Financial Statements within our Form 10-K.

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 Revolving Credit Facility borrowings, partially offset by interest income earned on cash and cash equivalents.

The following table summarizes the components of interest expense, net for the three and nine months ended May 31, 2019 and 2018 (in millions):



	Three Months Ended						Nine Months Ended
	May 31, 2019			May 31, 2018			May 31, 2019			May 31, 2018
Interest expense	$	9.1		$	8.9		$	27.4		$	26.3
Interest income	(0.8		)	(0.5		)	(1.8		)	(1.8		)
Interest expense, net	$	8.3		$	8.4		$	25.6		$	24.5

Commitments and Contingencies

9 Months Ended

May 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

In the normal course of business, we are subject to the effects of certain contractual stipulations, events, transactions, and laws and regulations that may, at times, require the recognition of liabilities, such as those related to self-insurance reserves and claims, legal and contractual issues, environmental laws and regulations, guarantees, and indemnities. We establish reserves when the associated costs related to uncertainties or guarantees become probable and can be reasonably estimated. For the period ended May 31, 2019, no material changes have occurred in our reserves for self-insurance, litigation, environmental matters, guarantees and indemnities, or relevant events and circumstances, from those disclosed in the Commitments and Contingencies footnote of the Notes to Consolidated Financial Statements within our Form 10-K.

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 allowance 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 allowances may be required, which could have a material adverse impact on our results of operations and cash flows.

Reserves for these product warranty and recall costs are included in Other accrued liabilities and Other long-term liabilities on the Consolidated Balance Sheets. The changes in the reserves for product warranty and recall costs during the nine months ended May 31, 2019 and 2018 are summarized as follows (in millions):



	Nine Months Ended
	May 31, 2019			May 31, 2018
Beginning balance	$	27.3		$	22.0
Warranty and recall costs	12.9			21.4
Payments and other deductions	(14.2		)	(19.5		)
Acquired warranty and recall liabilities	—			0.6
ASC 606 adjustments ⁽¹⁾	(14.8		)	—
Ending balance	$	11.2		$	24.5

^{______________________________}

⁽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. Refer to the New Accounting Pronouncements and Revenue Recognition footnotes for additional information.

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 the Company 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 the Company 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 the Company’s products and (ii) overstated our ability to achieve profitable sales growth. The plaintiff seeks class certification, unspecified monetary damages, costs, and attorneys’ fees. We dispute the allegations and intend to vigorously defend against the claims. We have filed a motion to dismiss the Consolidated Complaint. 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 maintain Director and Officer insurance policies that may cover any liability arising out of this litigation up to the policies’ limits, subject to a self-insured retention and other terms and conditions.

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 any such 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 reserves 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 reserved 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 amounts reserved.

Trade Compliance Matters

In the course of routine reviews of import and export activity, we previously determined that we misclassified and/or inaccurately valued certain international shipments of products. We are conducting a detailed review of this activity to determine the extent of any liabilities and implementing the appropriate remedial measures. At this time, we are unable to determine the likelihood or amount of loss, if any, associated with these shipments.

Share-based Payments

9 Months Ended

May 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-based Payments

We account for share-based payments through the measurement and recognition of compensation expense for share-based payment awards made to employees and directors, including stock options and restricted shares (all part of our equity incentive plan), and share units representing certain deferrals into our director deferred compensation plan or our supplemental deferred savings plan.

The following table presents share-based payment expense and new shares issued upon exercise of stock options for the three and nine months ended May 31, 2019 and 2018 (in millions, except shares):



	Three Months Ended				Nine Months Ended
	May 31, 2019		May 31, 2018		May 31, 2019		May 31, 2018
Share-based payment expense	$	7.6	$	7.6	$	22.9	$	24.4
Shares issued from option exercises	—		—		—		9,364

Further details regarding each of these award programs and our share-based payments are included within the Share-based Payments footnote of the Notes to Consolidated Financial Statements within our Form 10-K.

Pension Plans

9 Months Ended

May 31, 2019

Retirement Benefits [Abstract]

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 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.

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 three and nine months ended May 31, 2019 and 2018 included the following components before tax (in millions):



	Three Months Ended						Nine Months Ended
	May 31, 2019			May 31, 2018			May 31, 2019			May 31, 2018
Service cost	$	0.8		$	0.7		$	2.4		$	2.1
Interest cost	2.2			2.2			6.7			6.6
Expected return on plan assets	(3.1		)	(3.1		)	(9.4		)	(9.3		)
Amortization of prior service cost	0.8			0.8			2.3			2.4
Settlement loss	—			—			0.4			—
Recognized actuarial loss	1.0			1.7			3.1			5.1
Net periodic pension cost	$	1.7		$	2.3		$	5.5		$	6.9

Further details regarding our pension plans are included within the Pension and Defined Contribution Plans footnote of the Notes to Consolidated Financial Statements within our Form 10-K.

Special Charge

9 Months Ended

May 31, 2019

Restructuring and Related Activities [Abstract]

Special Charge

During fiscal 2019, we recognized pre-tax special charges of $1.3 million. These charges primarily related to move costs associated with the previously announced transfer of activities from a planned facility closure. During fiscal 2018, we recognized special charges consisting primarily of severance and employee-related benefit costs for the elimination of certain operations and positions following a realignment of our operating structure, including positions within various selling, distribution, and administrative (“SD&A”) departments. Further details regarding our special charges are included within the Special Charge footnote of the Notes to Consolidated Financial Statements within our Form 10-K.

Costs reflected within Special charge on the Consolidated Statements of Comprehensive Income for the three and nine months ended May 31, 2019 and 2018 are summarized as follows (in millions):



	Three Months Ended					Nine Months Ended
	May 31, 2019			May 31, 2018		May 31, 2019			May 31, 2018
Severance and employee-related costs	$	—		$	9.9	$	(0.8	)	$	10.5
Move and other restructuring costs	(0.1		)	—		2.1			0.2
Total special charge	$	(0.1	)	$	9.9	$	1.3		$	10.7

As of May 31, 2019, remaining restructuring reserves were $3.9 million and are included in Accrued compensation on the Consolidated Balance Sheets. The changes in the reserves related to these programs during the nine months ended May 31, 2019 are summarized as follows (in millions):



	Fiscal 2018 Actions			Fiscal 2017 Actions			Total
Balance at August 31, 2018	$	9.2		$	0.9		10.1
Severance costs	(0.4		)	(0.4		)	(0.8		)
Payments made during the period	(4.9		)	(0.5		)	(5.4		)
Balance at May 31, 2019	$	3.9		$	—		$	3.9

Income Taxes	9 Months Ended
Income Taxes	May 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes During the second quarter of fiscal 2019, we finalized our accounting for the tax effects of the U.S. Tax Cuts and Jobs Act (“TCJA”) in accordance with Staff Accounting Bulletin No. 118 (“SAB 118”). As a result, we recorded a net tax benefit of $0.9 million related to TCJA impacts including, but not limited to, our one-time transition tax, deferred income taxes, and executive compensation. Previously, we asserted that all undistributed earnings and original investments in foreign subsidiaries were indefinitely reinvested and, therefore, had not recorded any deferred taxes related to any outside basis differences associated with our foreign subsidiaries. As of May 31, 2019, the estimated undistributed earnings from foreign subsidiaries was $84.4 million. A significant portion of these earnings was subject to U.S. federal taxation in fiscal 2018 as part of the one-time transition tax. We are no longer asserting indefinite reinvestment on the portion of our unremitted earnings that were previously subject to U.S. federal taxation with the one-time transition tax. Accordingly, we recognized a deferred income tax liability of $0.6 million for certain foreign withholding taxes and U.S. state taxes during the second quarter of fiscal 2019. 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. We have elected to account for the tax on Global Intangible Low-Taxed Income (“GILTI”) as a period cost and, therefore, do not record deferred taxes related to GILTI on our foreign subsidiaries. Further details regarding the effects of the TCJA are included within the Income Taxes footnote of the Notes to Consolidated Financial Statements within our Form 10-K.

Supplemental Guarantor Condensed Consolidating Financial Statements

9 Months Ended

May 31, 2019

Condensed Financial Information Disclosure [Abstract]

Supplemental Guarantor Condensed Consolidating Financial Statements

In December 2009, ABL, the 100% owned and principal operating subsidiary of Acuity Brands, refinanced the then current outstanding debt through the issuance of the Unsecured Notes. See Debt and Lines of Credit footnote for further information.

In accordance with the registration rights agreement by and between ABL and the guarantors to the Unsecured Notes and the initial purchasers of the Unsecured Notes, ABL and the guarantors to the Notes filed a registration statement with the SEC for an offer to exchange the Unsecured Notes for an issue of SEC-registered notes with identical terms. Due to the filing of the registration statement and offer to exchange, we determined the need for compliance with Rule 3-10 of SEC Regulation S-X (“Rule 3-10”). In lieu of providing separate audited financial statements for ABL and ABL IP Holding, we have included the accompanying Condensed Consolidating Financial Statements in accordance with Rule 3-10(d) of SEC Regulation S-X since the Unsecured Notes are fully and unconditionally guaranteed by Acuity Brands and ABL IP Holding. The column marked “Parent” represents the financial condition, results of operations, and cash flows of Acuity Brands. The column marked “Subsidiary Issuer” represents the financial condition, results of operations, and cash flows of ABL. The column entitled “Subsidiary Guarantor” represents the financial condition, results of operations, and cash flows of ABL IP Holding. Lastly, the column listed as “Non-Guarantors” includes the financial condition, results of operations, and cash flows of the non-guarantor direct and indirect subsidiaries of Acuity Brands, which consist primarily of foreign subsidiaries. Consolidating adjustments were necessary in order to arrive at consolidated amounts. In addition, the equity method of accounting was used to calculate investments in subsidiaries. Accordingly, this basis of presentation is not intended to present the Company's financial condition, results of operations, or cash flows for any purpose other than to comply with the specific requirements for parent-subsidiary guarantor reporting.

CONDENSED CONSOLIDATING BALANCE SHEETS

(In millions)



	May 31, 2019
	Parent		Subsidiary Issuer		Subsidiary Guarantor		Non- Guarantors		Consolidating Adjustments			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	257.8	$	17.2	$	—	$	58.7	$	—		$	333.7
Accounts receivable, net	—		510.5		—		75.5		—			586.0
Inventories	—		367.1		—		23.5		—			390.6
Other current assets	20.8		29.7		—		18.5		—			69.0
Total current assets	278.6		924.5		—		176.2		—			1,379.3
Property, plant, and equipment, net	0.2		222.1		—		58.2		—			280.5
Goodwill	—		745.7		2.7		215.7		—			964.1
Intangible assets, net	—		274.9		104.3		93.9		—			473.1
Deferred income taxes	36.0		—		—		6.3		(39.5		)	2.8
Other long-term assets	0.5		19.0		—		1.8		—			21.3
Investments in and amounts due from affiliates	1,675.5		453.8		311.6		—		(2,440.9		)	—
Total assets	$	1,990.8	$	2,640.0	$	418.6	$	552.1	$	(2,480.4	)	$	3,121.1

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	0.7	$	357.8	$	—	$	20.3	$	—		$	378.8
Current maturities of long-term debt	—		8.7		—		0.4		—			9.1
Other accrued liabilities	8.4		188.5		—		46.2		—			243.1
Total current liabilities	9.1		555.0		—		66.9		—			631.0
Long-term debt	—		345.1		—		2.4		—			347.5
Deferred income taxes	—		103.3		—		25.8		(39.5		)	89.6
Other long-term liabilities	96.8		57.5		—		13.8		—			168.1
Amounts due to affiliates	—		—		—		126.4		(126.4		)	—
Total stockholders’ equity	1,884.9		1,579.1		418.6		316.8		(2,314.5		)	1,884.9
Total liabilities and stockholders’ equity	$	1,990.8	$	2,640.0	$	418.6	$	552.1	$	(2,480.4	)	$	3,121.1

CONDENSED CONSOLIDATING BALANCE SHEETS

(In millions)



	August 31, 2018
	Parent		Subsidiary Issuer		Subsidiary Guarantor		Non- Guarantors		Consolidating Adjustments			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	80.5	$	—	$	—	$	48.6	$	—		$	129.1
Accounts receivable, net	—		560.7		—		77.2		—			637.9
Inventories	—		386.6		—		25.2		—			411.8
Other current assets	2.3		18.6		—		11.4		—			32.3
Total current assets	82.8		965.9		—		162.4		—			1,211.1
Property, plant, and equipment, net	0.2		226.8		—		59.7		—			286.7
Goodwill	—		746.5		2.7		221.4		—			970.6
Intangible assets, net	—		286.6		106.5		105.6		—			498.7
Deferred income taxes	36.4		—		—		6.2		(39.7		)	2.9
Other long-term assets	1.2		15.6		—		2.0		—			18.8
Investments in and amounts due from affiliates	1,707.0		370.6		279.5		—		(2,357.1		)	—
Total assets	$	1,827.6	$	2,612.0	$	388.7	$	557.3	$	(2,396.8	)	$	2,988.8

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	0.3	$	420.7	$	—	$	30.1	$	—		$	451.1
Current maturities of long-term debt	—		—		—		0.4		—			0.4
Other accrued liabilities	18.8		170.1		—		42.3		—			231.2
Total current liabilities	19.1		590.8		—		72.8		—			682.7
Long-term debt	—		353.5		—		2.9		—			356.4
Deferred income taxes	—		106.5		—		25.7		(39.7		)	92.5
Other long-term liabilities	91.7		34.0		—		14.7		—			140.4
Amounts due to affiliates	—		—		—		138.8		(138.8		)	—
Total stockholders’ equity	1,716.8		1,527.2		388.7		302.4		(2,218.3		)	1,716.8
Total liabilities and stockholders’ equity	$	1,827.6	$	2,612.0	$	388.7	$	557.3	$	(2,396.8	)	$	2,988.8

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME

(In millions)



	Three Months Ended May 31, 2019
	Parent			Subsidiary Issuer			Subsidiary Guarantor		Non- Guarantors			Consolidating Adjustments			Consolidated
Net sales:
External sales	$	—		$	843.5		$	—	$	104.1		$	—		$	947.6
Intercompany sales	—			—			13.9		48.2			(62.1		)	—
Total sales	—			843.5			13.9		152.3			(62.1		)	947.6
Cost of products sold	—			500.3			—		110.5			(46.8		)	564.0
Gross profit	—			343.2			13.9		41.8			(15.3		)	383.6
Selling, distribution, and administrative expenses	10.7			230.4			0.7		36.9			(15.3		)	263.4
Intercompany charges	(0.8		)	(0.1		)	—		0.9			—			—
Special charge	—			(0.1		)	—		—			—			(0.1		)
Operating (loss) profit	(9.9		)	113.0			13.2		4.0			—			120.3
Interest expense, net	2.7			4.3			—		1.3			—			8.3
Equity earnings in subsidiaries	(99.3		)	(7.9		)	—		—			107.2			—
Miscellaneous expense (income), net	1.4			(0.7		)	—		(0.5		)	—			0.2
Income before income taxes	85.3			117.3			13.2		3.2			(107.2		)	111.8
Income tax (benefit) expense	(3.1		)	22.9			2.8		0.8			—			23.4
Net income	88.4			94.4			10.4		2.4			(107.2		)	88.4

Other comprehensive income (loss) items:
Foreign currency translation adjustments	(8.7		)	(8.7		)	—		—			8.7			(8.7		)
Defined benefit plans, net of tax	1.3			1.1			—		0.2			(1.3		)	1.3
Other comprehensive (loss) income items, net of tax	(7.4		)	(7.6		)	—		0.2			7.4			(7.4		)
Comprehensive income	$	81.0		$	86.8		$	10.4	$	2.6		$	(99.8	)	$	81.0

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME

(In millions)



	Three Months Ended May 31, 2018
	Parent			Subsidiary Issuer			Subsidiary Guarantor		Non- Guarantors			Consolidating Adjustments			Consolidated
Net sales:
External sales	$	—		$	843.7		$	—	$	100.3		$	—		$	944.0
Intercompany sales	—			—			13.7		44.6			(58.3		)	—
Total sales	—			843.7			13.7		144.9			(58.3		)	944.0
Cost of products sold	—			477.0			—		118.6			(40.7		)	554.9
Gross profit	—			366.7			13.7		26.3			(17.6		)	389.1
Selling, distribution, and administrative expenses	9.7			240.7			0.8		38.2			(17.6		)	271.8
Intercompany charges	(0.8		)	0.7			—		0.1			—			—
Special charge	—			9.9			—		—			—			9.9
Operating (loss) profit	(8.9		)	115.4			12.9		(12.0		)	—			107.4
Interest expense, net	2.9			4.2			—		1.3			—			8.4
Equity earnings in subsidiaries	(82.8		)	4.6			—		0.1			78.1			—
Miscellaneous expense (income), net	1.5			(1.0		)	—		(0.7		)	—			(0.2		)
Income (loss) before income taxes	69.5			107.6			12.9		(12.7		)	(78.1		)	99.2
Income tax (benefit) expense	(3.5		)	31.3			1.6		(3.2		)	—			26.2
Net income (loss)	73.0			76.3			11.3		(9.5		)	(78.1		)	73.0

Other comprehensive income (loss) items:
Foreign currency translation adjustments	(7.6		)	(7.6		)	—		—			7.6			(7.6		)
Defined benefit plans, net of tax	1.9			1.4			—		0.5			(1.9		)	1.9
Other comprehensive (loss) income items, net of tax	(5.7		)	(6.2		)	—		0.5			5.7			(5.7		)
Comprehensive income (loss)	$	67.3		$	70.1		$	11.3	$	(9.0	)	$	(72.4	)	$	67.3

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME

(In millions)



	Nine Months Ended May 31, 2019
	Parent			Subsidiary Issuer			Subsidiary Guarantor		Non- Guarantors			Consolidating Adjustments			Consolidated
Net sales:
External sales	$	—		$	2,429.0		$	—	$	305.6		$	—		$	2,734.6
Intercompany sales	—			—			40.2		151.2			(191.4		)	—
Total sales	—			2,429.0			40.2		456.8			(191.4		)	2,734.6
Cost of products sold	—			1,467.4			—		330.1			(147.9		)	1,649.6
Gross profit	—			961.6			40.2		126.7			(43.5		)	1,085.0
Selling, distribution, and administrative expenses	30.4			650.2			2.1		111.9			(43.5		)	751.1
Intercompany charges	(3.0		)	(0.1		)	—		3.1			—			—
Special charge	—			1.3			—		—			—			1.3
Operating (loss) profit	(27.4		)	310.2			38.1		11.7			—			332.6
Interest expense, net	8.8			13.1			—		3.7			—			25.6
Equity earnings in subsidiaries	(265.8		)	(19.9		)	—		0.1			285.6			—
Miscellaneous expense (income), net	4.8			(1.4		)	—		(0.8		)	—			2.6
Income before income taxes	224.8			318.4			38.1		8.7			(285.6		)	304.4
Income tax (benefit) expense	(9.5		)	68.8			8.0		2.8			—			70.1
Net income	234.3			249.6			30.1		5.9			(285.6		)	234.3

Other comprehensive income (loss) items:
Foreign currency translation adjustments	(12.6		)	(12.6		)	—		—			12.6			(12.6		)
Defined benefit plans, net of tax	5.3			3.4			—		0.8			(4.2		)	5.3
Other comprehensive (loss) income items, net of tax	(7.3		)	(9.2		)	—		0.8			8.4			(7.3		)
Comprehensive income	$	227.0		$	240.4		$	30.1	$	6.7		$	(277.2	)	$	227.0

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME

(In millions)



	Nine Months Ended May 31, 2018
	Parent			Subsidiary Issuer			Subsidiary Guarantor		Non- Guarantors			Consolidating Adjustments			Consolidated
Net sales:
External sales	$	—		$	2,328.3		$	—	$	290.6		$	—		$	2,618.9
Intercompany sales	—			—			38.2		129.3			(167.5		)	—
Total sales	—			2,328.3			38.2		419.9			(167.5		)	2,618.9
Cost of products sold	—			1,348.1			—		318.8			(121.5		)	1,545.4
Gross profit	—			980.2			38.2		101.1			(46.0		)	1,073.5
Selling, distribution, and administrative expenses	30.4			647.2			2.4		111.7			(46.0		)	745.7
Intercompany charges	(2.6		)	(0.2		)	—		2.8			—			—
Special charge	—			10.7			—		—			—			10.7
Operating (loss) profit	(27.8		)	322.5			35.8		(13.4		)	—			317.1
Interest expense, net	8.2			12.2			—		4.1			—			24.5
Equity earnings in subsidiaries	(269.9		)	2.5			—		0.2			267.2			—
Miscellaneous expense (income), net	4.5			0.3			—		(1.0		)	—			3.8
Income (loss) before income taxes	229.4			307.5			35.8		(16.7		)	(267.2		)	288.8
Income tax (benefit) expense	(12.0		)	58.5			4.7		(3.8		)	—			47.4
Net income (loss)	241.4			249.0			31.1		(12.9		)	(267.2		)	241.4

Other comprehensive income (loss) items:
Foreign currency translation adjustments	(15.6		)	(15.6		)	—		—			15.6			(15.6		)
Defined benefit plans, net of tax	5.3			3.9			—		1.4			(5.3		)	5.3
Other comprehensive (loss) income items, net of tax	(10.3		)	(11.7		)	—		1.4			10.3			(10.3		)
Comprehensive income (loss)	$	231.1		$	237.3		$	31.1	$	(11.5	)	$	(256.9	)	$	231.1

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

(In millions)



	Nine Months Ended May 31, 2019
	Parent			Subsidiary Issuer			Subsidiary Guarantor		Non- Guarantors			Consolidating Adjustments		Consolidated
Net cash provided by operating activities	$	245.0		$	48.4		$	—	$	18.6		$	—	$	312.0
Cash flows from investing activities:
Purchases of property, plant, and equipment	—			(33.0		)	—		(6.8		)	—		(39.8		)
Other investing activities	0.8			2.1			—		—			—		2.9
Net cash provided by (used for) investing activities	0.8			(30.9		)	—		(6.8		)	—		(36.9		)
Cash flows from financing activities:
Borrowings on credit facility	—			86.5			—		—			—		86.5
Repayments of borrowings on credit facility	—			(86.5		)	—		—			—		(86.5		)
Repayments of long-term debt	—			—			—		(0.3		)	—		(0.3		)
Proceeds from stock option exercises and other	0.5			—			—		—			—		0.5
Repurchases of common stock	(48.7		)	—			—		—			—		(48.7		)
Withholding taxes on net settlement of equity awards	(4.9		)	—			—		—			—		(4.9		)
Dividends paid	(15.6		)	—			—		—			—		(15.6		)
Net cash used for financing activities	(68.7		)	—			—		(0.3		)	—		(69.0		)
Effect of exchange rates changes on cash	0.2			(0.3		)	—		(1.4		)	—		(1.5		)
Net change in cash and cash equivalents	177.3			17.2			—		10.1			—		204.6
Cash and cash equivalents at beginning of period	80.5			—			—		48.6			—		129.1
Cash and cash equivalents at end of period	$	257.8		$	17.2		$	—	$	58.7		$	—	$	333.7

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

(In millions)



	Nine Months Ended May 31, 2018
	Parent			Subsidiary Issuer			Subsidiary Guarantor		Non- Guarantors			Consolidating Adjustments			Consolidated
Net cash provided by operating activities	$	252.6		$	19.1		$	—	$	28.0		$	—		$	299.7
Cash flows from investing activities:
Purchases of property, plant, and equipment	—			(21.9		)	—		(10.3		)	—			(32.2		)
Investments in subsidiaries	(163.5		)	—			—		—			163.5			—
Acquisitions of business, net of cash acquired	—			(136.6		)	—		(26.9		)	—			(163.5		)
Other investing activities	1.0			—			—		—			—			1.0
Net cash used for investing activities	(162.5		)	(158.5		)	—		(37.2		)	163.5			(194.7		)
Cash flows from financing activities:
Borrowings on credit facility	—			237.3			—		—			—			237.3
Repayments of borrowings on credit facility	—			(236.1		)	—		—			—			(236.1		)
Repayments of long-term debt	—			—			—		(0.3		)	—			(0.3		)
Proceeds from stock option exercises and other	1.6			—			—		—			—			1.6
Repurchases of common stock	(298.4		)	—			—		—			—			(298.4		)
Withholding taxes on net settlement of equity awards	(7.2		)	—			—		—			—			(7.2		)
Intercompany capital	—			136.6			—		26.9			(163.5		)	—
Dividends paid	(16.2		)	—			—		—			—			(16.2		)
Net cash (used for) provided by financing activities	(320.2		)	137.8			—		26.6			(163.5		)	(319.3		)
Effect of exchange rate changes on cash	—			1.6			—		(4.1		)	—			(2.5		)
Net change in cash and cash equivalents	(230.1		)	—			—		13.3			—			(216.8		)
Cash and cash equivalents at beginning of period	237.7			—			—		73.4			—			311.1
Cash and cash equivalents at end of period	$	7.6		$	—		$	—	$	86.7		$	—		$	94.3

Significant Accounting Policies (Policies)

9 Months Ended

May 31, 2019

Accounting Policies [Abstract]

Basis of Accounting

We prepared the Consolidated Financial Statements in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) to present the financial position, results of operations, and cash flows of Acuity Brands and its wholly-owned subsidiaries.

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.

Reclassifications

Certain prior-period amounts have been reclassified to conform to the current year presentation. No material reclassifications occurred during the current period.

New Accounting Pronouncements

Accounting Standards Adopted in Fiscal 2019

ASU 2017-01 -— Clarifying the Definition of a Business

ASU 2016-15 — Statement of Cash Flows

ASU 2017-07 — Presentation of Net Periodic Pension Cost

The impact of the provisions of ASU 2017-07 on the Consolidated Statement of Comprehensive Income for the three and nine months ended May 31, 2018 are as follows (in millions):



	Three Months Ended May 31, 2018									Nine Months Ended May 31, 2018
	As Revised			Previously Reported			Higher (Lower)			As Revised		Previously Reported			Higher (Lower)
Cost of products sold	$	554.9		$	554.6		$	0.3		$	1,545.4	$	1,544.4		$	1.0
Selling, distribution, and administrative expenses	271.8			273.6			(1.8		)	745.7		751.3			(5.6		)
Miscellaneous expense (income), net	(0.2		)	(1.7		)	1.5			3.8		(0.8		)	4.6

ASC 606 — Revenue from Contracts with Customers



Consolidated Statement of Comprehensive Income	Three Months Ended May 31, 2019							Nine Months Ended May 31, 2019
	As Currently Reported		Without ASC 606 Adoption		Higher (Lower)			As Currently Reported		Without ASC 606 Adoption		Higher (Lower)
Net sales	$	947.6	$	951.4	$	(3.8	)	$	2,734.6	$	2,742.4	$	(7.8	)
Cost of products sold	564.0		566.2		(2.2		)	1,649.6		1,653.6		(4.0		)
Selling, distribution, and administrative expenses	263.4		263.4		—			751.1		750.9		0.2
Operating profit	120.3		121.9		(1.6		)	332.6		336.6		(4.0		)
Income tax expense	23.4		23.8		(0.4		)	70.1		71.1		(1.0		)
Net income	88.4		89.6		(1.2		)	234.3		237.3		(3.0		)

Basic earnings per share	$	2.23	$	2.26	$	(0.03	)	$	5.89	$	5.97	$	(0.08	)
Diluted earnings per share	2.22		2.25		(0.03		)	5.87		5.95		(0.08		)



Consolidated Balance Sheet	May 31, 2019
	As Currently Reported		Without ASC 606 Adoption	Higher (Lower)
Accounts receivable, net	$	586.0	564.7	$	21.3
Prepayments and other current assets	69.0		53.7	15.3
Other accrued liabilities	176.7		139.8	36.9
Deferred income tax liabilities	89.6		94.8	(5.2		)
Other long-term liabilities	98.7		77.8	20.9
Retained earnings	2,204.9		2,220.9	(16.0		)

Accounting Standards Yet to Be Adopted

All other newly issued accounting pronouncements not yet effective have been deemed either immaterial or not applicable.

Revenue Recognition

Costs to obtain and fulfill contracts, such as sales commissions and shipping and handling activities, are short-term in nature and are expensed as incurred.

Nature of Goods and Services

Products

Professional Services

Software

Shipping and Handling Activities

Contracts with Multiple Performance Obligations

Contract Balances

The amount of transaction price from contracts with customers allocated to our contract liabilities as of May 31, 2019 and September 1, 2018 consists of the following (in millions):



	May 31, 2019		September 1, 2018
Current deferred revenues	$	8.5	$	4.8
Non-current deferred revenues	43.7		35.0

Disaggregated Revenues

Methodologies used to determine fair values of financial assets and liabilities

Recognition of transfers between levels within the fair value hierarchy

New Accounting Pronouncements (Tables)

9 Months Ended

May 31, 2019

Accounting Changes and Error Corrections [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The impact of the provisions of ASU 2017-07 on the Consolidated Statement of Comprehensive Income for the three and nine months ended May 31, 2018 are as follows (in millions):



	Three Months Ended May 31, 2018									Nine Months Ended May 31, 2018
	As Revised			Previously Reported			Higher (Lower)			As Revised		Previously Reported			Higher (Lower)
Cost of products sold	$	554.9		$	554.6		$	0.3		$	1,545.4	$	1,544.4		$	1.0
Selling, distribution, and administrative expenses	271.8			273.6			(1.8		)	745.7		751.3			(5.6		)
Miscellaneous expense (income), net	(0.2		)	(1.7		)	1.5			3.8		(0.8		)	4.6

The effects of the adoption of ASC 606 on our Consolidated Statement of Comprehensive Income for the three and nine months ended May 31, 2019, and the Consolidated Balance Sheet as of May 31, 2019 are as follows (in millions except per share amounts):



Consolidated Statement of Comprehensive Income	Three Months Ended May 31, 2019							Nine Months Ended May 31, 2019
	As Currently Reported		Without ASC 606 Adoption		Higher (Lower)			As Currently Reported		Without ASC 606 Adoption		Higher (Lower)
Net sales	$	947.6	$	951.4	$	(3.8	)	$	2,734.6	$	2,742.4	$	(7.8	)
Cost of products sold	564.0		566.2		(2.2		)	1,649.6		1,653.6		(4.0		)
Selling, distribution, and administrative expenses	263.4		263.4		—			751.1		750.9		0.2
Operating profit	120.3		121.9		(1.6		)	332.6		336.6		(4.0		)
Income tax expense	23.4		23.8		(0.4		)	70.1		71.1		(1.0		)
Net income	88.4		89.6		(1.2		)	234.3		237.3		(3.0		)

Basic earnings per share	$	2.23	$	2.26	$	(0.03	)	$	5.89	$	5.97	$	(0.08	)
Diluted earnings per share	2.22		2.25		(0.03		)	5.87		5.95		(0.08		)



Consolidated Balance Sheet	May 31, 2019
	As Currently Reported		Without ASC 606 Adoption	Higher (Lower)
Accounts receivable, net	$	586.0	564.7	$	21.3
Prepayments and other current assets	69.0		53.7	15.3
Other accrued liabilities	176.7		139.8	36.9
Deferred income tax liabilities	89.6		94.8	(5.2		)
Other long-term liabilities	98.7		77.8	20.9
Retained earnings	2,204.9		2,220.9	(16.0		)

Revenue Recognition (Tables)

9 Months Ended

May 31, 2019

Revenue from Contract with Customer [Abstract]

Amount of transaction price from contracts with customers allocated to the Company's contract liabilities

The amount of transaction price from contracts with customers allocated to our contract liabilities as of May 31, 2019 and September 1, 2018 consists of the following (in millions):



	May 31, 2019		September 1, 2018
Current deferred revenues	$	8.5	$	4.8
Non-current deferred revenues	43.7		35.0

Revenue from contracts with customers by sales channel

The following table shows revenue from contracts with customers by sales channel for the three and nine months ended May 31, 2019 (in millions):



	Three Months Ended		Nine Months Ended
	May 31, 2019		May 31, 2019
Independent sales network	$	650.3	$	1,871.4
Direct sales network	97.2		283.5
Retail sales	58.7		217.8
Corporate accounts	97.1		224.5
Other	44.3		137.4
Total	$	947.6	$	2,734.6

Fair Value Measurements (Tables)

9 Months Ended

May 31, 2019

Fair Value Disclosures [Abstract]

Schedule of Carrying Value and Estimated Fair Value of Financial Instruments

The carrying values and estimated fair values of certain of our financial instruments were as follows at May 31, 2019 and August 31, 2018 (in millions):



	May 31, 2019				August 31, 2018
	Carrying Value		Fair Value		Carrying Value		Fair Value
Senior unsecured public notes, net of unamortized discount and deferred costs	$	349.8	$	355.1	$	349.5	$	361.7
Industrial revenue bond	4.0		4.0		4.0		4.0
Bank loans	2.8		3.0		3.3		3.3

Goodwill and Intangible Assets (Tables)

9 Months Ended

May 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The changes in the carrying amount of goodwill during the nine months ended May 31, 2019 and 2018 are summarized below (in millions):



	Nine Months Ended
	May 31, 2019			May 31, 2018
Beginning balance	$	970.6		$	900.9
Additions from acquired businesses	—			75.7
Adjustments to provisional amounts	(0.2		)	—
Foreign currency translation adjustments	(6.3		)	(6.1		)
Ending balance	$	964.1		$	970.5

Inventories (Tables)

9 Months Ended

May 31, 2019

Inventory Disclosure [Abstract]

Schedule of Inventory



	May 31, 2019			August 31, 2018
Raw materials, supplies, and work in process ⁽¹⁾	$	178.9		$	196.8
Finished goods	240.3			251.8
Inventories excluding reserves	419.2			448.6
Less: Reserves	(28.6		)	(36.8		)
Total inventories	$	390.6		$	411.8

_______________________________________

Earnings Per Share (Tables)

9 Months Ended

May 31, 2019

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table calculates basic earnings per common share and diluted earnings per common share for the three and nine months ended May 31, 2019 and 2018 (in millions, except per share data):



	Three Months Ended				Nine Months Ended
	May 31, 2019		May 31, 2018		May 31, 2019		May 31, 2018
Net income	$	88.4	$	73.0	$	234.3	$	241.4
Basic weighted average shares outstanding	39.7		40.4		39.8		41.2
Common stock equivalents	0.1		0.1		0.1		0.1
Diluted weighted average shares outstanding	39.8		40.5		39.9		41.3
Basic earnings per share	$	2.23	$	1.81	$	5.89	$	5.86
Diluted earnings per share	$	2.22	$	1.80	$	5.87	$	5.85

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share



	Three Months Ended		Nine Months Ended
	May 31, 2019	May 31, 2018	May 31, 2019	May 31, 2018
Stock options	283,731	239,230	297,445	179,385
Restricted stock awards	107,800	240,783	169,672	257,617

Changes in Stockholders' Equity (Tables)

9 Months Ended

May 31, 2019

Equity [Abstract]

Schedule of Changes in Stockholders' Equity

The following tables summarize changes in the components of stockholders' equity for the three and nine months ended May 31, 2019 and 2018 (in millions):



	Common Stock Outstanding
	Shares		Amount		Paid-in Capital		Retained Earnings			Accumulated Other Comprehensive Loss			Treasury Stock, at cost			Total
Balance, August 31, 2018	40.0		$	0.5	$	906.3	$	1,999.2		$	(114.8	)	$	(1,074.4	)	$	1,716.8
Net income	—		—		—		79.6			—			—			79.6
Other comprehensive loss	—		—		—		—			(6.2		)	—			(6.2		)
ASC 606 adjustments	—		—		—		(13.0		)	—			—			(13.0		)
Amortization, issuance, and cancellations of restricted stock grants	0.1		—		3.8		—			—			—			3.8
Employee stock purchase plan issuances	—		—		0.1		—			—			—			0.1
Cash dividends of $0.13 per share paid on common stock	—		—		—		(5.2		)	—			—			(5.2		)
Repurchases of common stock	(0.2	)	—		—		—			—			(25.0		)	(25.0		)
Balance, November 30, 2018	39.9		0.5		910.2		2,060.6			(121.0		)	(1,099.4		)	1,750.9
Net income	—		—		—		66.3			—			—			66.3
Other comprehensive income	—		—		—		—			6.3			—			6.3
Amortization, issuance, and cancellations of restricted stock grants	—		—		7.1		—			—			—			7.1
Employee stock purchase plan issuances	—		—		0.2		—			—			—			0.2
Cash dividends of $0.13 per share paid on common stock	—		—		—		(5.3		)	—			—			(5.3		)
Repurchases of common stock	(0.2	)	—		—		—			—			(23.7		)	(23.7		)
Balance, February 28, 2019	39.7		0.5		917.5		2,121.6			(114.7		)	(1,123.1		)	1,801.8
Net income	—		—		—		88.4			—			—			88.4
Other comprehensive loss	—		—		—		—			(7.4		)	—			(7.4		)
Amortization, issuance, and cancellations of restricted stock grants	—		—		7.0		—			—			—			7.0
Employee stock purchase plan issuances	—		—		0.2		—			—			—			0.2
Cash dividends of $0.13 per share paid on common stock	—		—		—		(5.1		)	—			—			(5.1		)
Balance, May 31, 2019	39.7		$	0.5	$	924.7	$	2,204.9		$	(122.1	)	$	(1,123.1	)	$	1,884.9



	Common Stock Outstanding
	Shares		Amount		Paid-in Capital		Retained Earnings			Accumulated Other Comprehensive Loss			Treasury Stock, at cost			Total
Balance, August 31, 2017	41.8		$	0.5	$	881.0	$	1,659.9		$	(99.7	)	$	(776.1	)	$	1,665.6
Net income	—		—		—		71.5			—			—			71.5
Other comprehensive loss	—		—		—		—			(8.9		)	—			(8.9		)
Amortization, issuance, and cancellations of restricted stock grants	0.1		—		2.5		—			—			0.1			2.6
Employee stock purchase plan issuances	—		—		0.2		—			—			—			0.2
Cash dividends of $0.13 per share paid on common stock	—		—		—		(5.5		)	—			—			(5.5		)
Stock options exercised	—		—		0.6		—			—			—			0.6
Balance, November 30, 2017	41.9		0.5		884.3		1,725.9			(108.6		)	(776.0		)	1,726.1
Net income	—		—		—		96.9			—			—			96.9
Other comprehensive income	—		—		—		—			4.3			—			4.3
Reclassification of stranded tax effects of the TCJA ⁽¹⁾	—		—		—		11.1			(11.1		)	—			—
Amortization, issuance, and cancellations of restricted stock grants	0.1		—		7.6		—			—			—			7.6
Employee stock purchase plan issuances	—		—		0.1		—			—			—			0.1
Cash dividends of $0.13 per share paid on common stock	—		—		—		(5.4		)	—			—			(5.4		)
Stock options exercised	—		—		0.5		—			—			—			0.5
Repurchases of common stock	(1.2	)	—		—		—			—			(194.3		)	(194.3		)
Balance, February 28, 2018	40.8		0.5		892.5		1,828.5			(115.4		)	(970.3		)	1,635.8
Net income	—		—		—		73.0			—			—			73.0
Other comprehensive loss	—		—		—		—			(5.7		)	—			(5.7		)
Amortization, issuance, and cancellations of restricted stock grants	—		—		6.5		—			—			—			6.5
Employee stock purchase plan issuances	—		—		0.2		—			—			—			0.2
Cash dividends of $0.13 per share paid on common stock	—		—		—		(5.3		)	—			—			(5.3		)
Repurchases of common stock	(0.8	)	—		—		—			—			(104.1		)	(104.1		)
Balance, May 31, 2018	40.0		$	0.5	$	899.2	$	1,896.2		$	(121.1	)	$	(1,074.4	)	$	1,600.4

______________________________________

⁽¹⁾See Income Taxes footnote of the Notes to Consolidated Financial Statements within our Form 10-K for additional details.

Comprehensive Income (Tables)

9 Months Ended

May 31, 2019

Equity [Abstract]

Changes in components of accumulated other comprehensive income (loss) items

The following table presents the changes in each component of accumulated other comprehensive loss during the nine months ended May 31, 2019 and 2018 (in millions):



	Foreign Currency Items			Defined Benefit Pension Plans			Accumulated Other Comprehensive Loss Items
Balance at August 31, 2018	$	(53.9	)	$	(60.9	)	$	(114.8	)
Other comprehensive (loss) income before reclassifications	(12.6		)	0.9			(11.7		)
Amounts reclassified from accumulated other comprehensive loss	—			4.4			4.4
Net current period other comprehensive (loss) income	(12.6		)	5.3			(7.3		)
Balance at May 31, 2019	$	(66.5	)	$	(55.6	)	$	(122.1	)



	Foreign Currency Items			Defined Benefit Pension Plans			Accumulated Other Comprehensive Loss Items
Balance at August 31, 2017	$	(28.7	)	$	(71.0	)	$	(99.7	)
Other comprehensive loss before reclassifications	(15.6		)	—			(15.6		)
Amounts reclassified from accumulated other comprehensive loss	—			5.3			5.3
Net current period other comprehensive (loss) income	(15.6		)	5.3			(10.3		)
Reclassification of stranded tax effects of TCJA ⁽¹⁾	—			(11.1		)	(11.1		)
Balance at May 31, 2018	$	(44.3	)	$	(76.8	)	$	(121.1	)

______________________________________

⁽¹⁾See Income Taxes footnote of the Notes to Consolidated Financial Statements within our Form 10-K for additional details.

Schedule of comprehensive income (loss)

The following table presents the tax expense or benefit allocated to each component of other comprehensive loss for the three and nine months ended May 31, 2019 and 2018 (in millions):



	Three Months Ended
	May 31, 2019									May 31, 2018
	Before Tax Amount			Tax (Expense) Benefit			Net of Tax Amount			Before Tax Amount			Tax (Expense) Benefit			Net of Tax Amount
Foreign currency translation adjustments	$	(8.7	)	$	—		$	(8.7	)	$	(7.6	)	$	—		$	(7.6	)
Defined benefit pension plans:
Amortization of defined benefit pension items:
Prior service cost	0.8			(0.2		)	0.6			0.8			(0.1		)	0.7
Actuarial losses	1.0			(0.3		)	0.7			1.7			(0.5		)	1.2
Total defined benefit pension plans, net	1.8			(0.5		)	1.3			2.5			(0.6		)	1.9
Other comprehensive loss	$	(6.9	)	$	(0.5	)	$	(7.4	)	$	(5.1	)	$	(0.6	)	$	(5.7	)



	Nine Months Ended
	May 31, 2019									May 31, 2018
	Before Tax Amount			Tax (Expense) Benefit			Net of Tax Amount			Before Tax Amount			Tax (Expense) Benefit			Net of Tax Amount
Foreign currency translation adjustments	$	(12.6	)	$	—		$	(12.6	)	$	(15.6	)	$	—		$	(15.6	)
Defined benefit pension plans:
Actuarial gain or loss	1.3			(0.4		)	0.9			—			—			—
Amortization of defined benefit pension items:
Prior service cost	2.3			(0.5		)	1.8			2.4			(0.7		)	1.7
Actuarial losses	3.1			(0.8		)	2.3			5.1			(1.5		)	3.6
Settlement losses	0.4			(0.1		)	0.3			—			—			—
Total defined benefit pension plans, net	7.1			(1.8		)	5.3			7.5			(2.2		)	5.3
Other comprehensive loss	$	(5.5	)	$	(1.8	)	$	(7.3	)	$	(8.1	)	$	(2.2	)	$	(10.3	)

Debt and Lines of Credit (Tables)

9 Months Ended

May 31, 2019

Debt Disclosure [Abstract]

Components of Interest Expense, Net

The following table summarizes the components of interest expense, net for the three and nine months ended May 31, 2019 and 2018 (in millions):



	Three Months Ended						Nine Months Ended
	May 31, 2019			May 31, 2018			May 31, 2019			May 31, 2018
Interest expense	$	9.1		$	8.9		$	27.4		$	26.3
Interest income	(0.8		)	(0.5		)	(1.8		)	(1.8		)
Interest expense, net	$	8.3		$	8.4		$	25.6		$	24.5

Commitments and Contingencies (Tables)

9 Months Ended

May 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Schedule of Product Warranty Liability

The changes in the reserves for product warranty and recall costs during the nine months ended May 31, 2019 and 2018 are summarized as follows (in millions):



	Nine Months Ended
	May 31, 2019			May 31, 2018
Beginning balance	$	27.3		$	22.0
Warranty and recall costs	12.9			21.4
Payments and other deductions	(14.2		)	(19.5		)
Acquired warranty and recall liabilities	—			0.6
ASC 606 adjustments ⁽¹⁾	(14.8		)	—
Ending balance	$	11.2		$	24.5

^{______________________________}

Share-based Payments (Tables)

9 Months Ended

May 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Share-based Payment Expense and Shares Issued Upon Exercise of Options

The following table presents share-based payment expense and new shares issued upon exercise of stock options for the three and nine months ended May 31, 2019 and 2018 (in millions, except shares):



	Three Months Ended				Nine Months Ended
	May 31, 2019		May 31, 2018		May 31, 2019		May 31, 2018
Share-based payment expense	$	7.6	$	7.6	$	22.9	$	24.4
Shares issued from option exercises	—		—		—		9,364

Pension Plans (Tables)

9 Months Ended

May 31, 2019

Retirement Benefits [Abstract]

Schedule of Net Periodic Pension Cost

Net periodic pension cost during the three and nine months ended May 31, 2019 and 2018 included the following components before tax (in millions):



	Three Months Ended						Nine Months Ended
	May 31, 2019			May 31, 2018			May 31, 2019			May 31, 2018
Service cost	$	0.8		$	0.7		$	2.4		$	2.1
Interest cost	2.2			2.2			6.7			6.6
Expected return on plan assets	(3.1		)	(3.1		)	(9.4		)	(9.3		)
Amortization of prior service cost	0.8			0.8			2.3			2.4
Settlement loss	—			—			0.4			—
Recognized actuarial loss	1.0			1.7			3.1			5.1
Net periodic pension cost	$	1.7		$	2.3		$	5.5		$	6.9

Special Charge (Tables)

9 Months Ended

May 31, 2019

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Reserve by Type of Cost

Costs reflected within Special charge on the Consolidated Statements of Comprehensive Income for the three and nine months ended May 31, 2019 and 2018 are summarized as follows (in millions):



	Three Months Ended					Nine Months Ended
	May 31, 2019			May 31, 2018		May 31, 2019			May 31, 2018
Severance and employee-related costs	$	—		$	9.9	$	(0.8	)	$	10.5
Move and other restructuring costs	(0.1		)	—		2.1			0.2
Total special charge	$	(0.1	)	$	9.9	$	1.3		$	10.7

The changes in the reserves related to these programs during the nine months ended May 31, 2019 are summarized as follows (in millions):



	Fiscal 2018 Actions			Fiscal 2017 Actions			Total
Balance at August 31, 2018	$	9.2		$	0.9		10.1
Severance costs	(0.4		)	(0.4		)	(0.8		)
Payments made during the period	(4.9		)	(0.5		)	(5.4		)
Balance at May 31, 2019	$	3.9		$	—		$	3.9

Supplemental Guarantor Condensed Consolidating Financial Statements (Tables)

9 Months Ended

May 31, 2019

Condensed Financial Information Disclosure [Abstract]

CONDENSED CONSOLIDATING BALANCE SHEETS

(In millions)



	May 31, 2019
	Parent		Subsidiary Issuer		Subsidiary Guarantor		Non- Guarantors		Consolidating Adjustments			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	257.8	$	17.2	$	—	$	58.7	$	—		$	333.7
Accounts receivable, net	—		510.5		—		75.5		—			586.0
Inventories	—		367.1		—		23.5		—			390.6
Other current assets	20.8		29.7		—		18.5		—			69.0
Total current assets	278.6		924.5		—		176.2		—			1,379.3
Property, plant, and equipment, net	0.2		222.1		—		58.2		—			280.5
Goodwill	—		745.7		2.7		215.7		—			964.1
Intangible assets, net	—		274.9		104.3		93.9		—			473.1
Deferred income taxes	36.0		—		—		6.3		(39.5		)	2.8
Other long-term assets	0.5		19.0		—		1.8		—			21.3
Investments in and amounts due from affiliates	1,675.5		453.8		311.6		—		(2,440.9		)	—
Total assets	$	1,990.8	$	2,640.0	$	418.6	$	552.1	$	(2,480.4	)	$	3,121.1

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	0.7	$	357.8	$	—	$	20.3	$	—		$	378.8
Current maturities of long-term debt	—		8.7		—		0.4		—			9.1
Other accrued liabilities	8.4		188.5		—		46.2		—			243.1
Total current liabilities	9.1		555.0		—		66.9		—			631.0
Long-term debt	—		345.1		—		2.4		—			347.5
Deferred income taxes	—		103.3		—		25.8		(39.5		)	89.6
Other long-term liabilities	96.8		57.5		—		13.8		—			168.1
Amounts due to affiliates	—		—		—		126.4		(126.4		)	—
Total stockholders’ equity	1,884.9		1,579.1		418.6		316.8		(2,314.5		)	1,884.9
Total liabilities and stockholders’ equity	$	1,990.8	$	2,640.0	$	418.6	$	552.1	$	(2,480.4	)	$	3,121.1

CONDENSED CONSOLIDATING BALANCE SHEETS

(In millions)



	August 31, 2018
	Parent		Subsidiary Issuer		Subsidiary Guarantor		Non- Guarantors		Consolidating Adjustments			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	80.5	$	—	$	—	$	48.6	$	—		$	129.1
Accounts receivable, net	—		560.7		—		77.2		—			637.9
Inventories	—		386.6		—		25.2		—			411.8
Other current assets	2.3		18.6		—		11.4		—			32.3
Total current assets	82.8		965.9		—		162.4		—			1,211.1
Property, plant, and equipment, net	0.2		226.8		—		59.7		—			286.7
Goodwill	—		746.5		2.7		221.4		—			970.6
Intangible assets, net	—		286.6		106.5		105.6		—			498.7
Deferred income taxes	36.4		—		—		6.2		(39.7		)	2.9
Other long-term assets	1.2		15.6		—		2.0		—			18.8
Investments in and amounts due from affiliates	1,707.0		370.6		279.5		—		(2,357.1		)	—
Total assets	$	1,827.6	$	2,612.0	$	388.7	$	557.3	$	(2,396.8	)	$	2,988.8

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	0.3	$	420.7	$	—	$	30.1	$	—		$	451.1
Current maturities of long-term debt	—		—		—		0.4		—			0.4
Other accrued liabilities	18.8		170.1		—		42.3		—			231.2
Total current liabilities	19.1		590.8		—		72.8		—			682.7
Long-term debt	—		353.5		—		2.9		—			356.4
Deferred income taxes	—		106.5		—		25.7		(39.7		)	92.5
Other long-term liabilities	91.7		34.0		—		14.7		—			140.4
Amounts due to affiliates	—		—		—		138.8		(138.8		)	—
Total stockholders’ equity	1,716.8		1,527.2		388.7		302.4		(2,218.3		)	1,716.8
Total liabilities and stockholders’ equity	$	1,827.6	$	2,612.0	$	388.7	$	557.3	$	(2,396.8	)	$	2,988.8

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME

(In millions)



	Three Months Ended May 31, 2019
	Parent			Subsidiary Issuer			Subsidiary Guarantor		Non- Guarantors			Consolidating Adjustments			Consolidated
Net sales:
External sales	$	—		$	843.5		$	—	$	104.1		$	—		$	947.6
Intercompany sales	—			—			13.9		48.2			(62.1		)	—
Total sales	—			843.5			13.9		152.3			(62.1		)	947.6
Cost of products sold	—			500.3			—		110.5			(46.8		)	564.0
Gross profit	—			343.2			13.9		41.8			(15.3		)	383.6
Selling, distribution, and administrative expenses	10.7			230.4			0.7		36.9			(15.3		)	263.4
Intercompany charges	(0.8		)	(0.1		)	—		0.9			—			—
Special charge	—			(0.1		)	—		—			—			(0.1		)
Operating (loss) profit	(9.9		)	113.0			13.2		4.0			—			120.3
Interest expense, net	2.7			4.3			—		1.3			—			8.3
Equity earnings in subsidiaries	(99.3		)	(7.9		)	—		—			107.2			—
Miscellaneous expense (income), net	1.4			(0.7		)	—		(0.5		)	—			0.2
Income before income taxes	85.3			117.3			13.2		3.2			(107.2		)	111.8
Income tax (benefit) expense	(3.1		)	22.9			2.8		0.8			—			23.4
Net income	88.4			94.4			10.4		2.4			(107.2		)	88.4

Other comprehensive income (loss) items:
Foreign currency translation adjustments	(8.7		)	(8.7		)	—		—			8.7			(8.7		)
Defined benefit plans, net of tax	1.3			1.1			—		0.2			(1.3		)	1.3
Other comprehensive (loss) income items, net of tax	(7.4		)	(7.6		)	—		0.2			7.4			(7.4		)
Comprehensive income	$	81.0		$	86.8		$	10.4	$	2.6		$	(99.8	)	$	81.0

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME

(In millions)



	Three Months Ended May 31, 2018
	Parent			Subsidiary Issuer			Subsidiary Guarantor		Non- Guarantors			Consolidating Adjustments			Consolidated
Net sales:
External sales	$	—		$	843.7		$	—	$	100.3		$	—		$	944.0
Intercompany sales	—			—			13.7		44.6			(58.3		)	—
Total sales	—			843.7			13.7		144.9			(58.3		)	944.0
Cost of products sold	—			477.0			—		118.6			(40.7		)	554.9
Gross profit	—			366.7			13.7		26.3			(17.6		)	389.1
Selling, distribution, and administrative expenses	9.7			240.7			0.8		38.2			(17.6		)	271.8
Intercompany charges	(0.8		)	0.7			—		0.1			—			—
Special charge	—			9.9			—		—			—			9.9
Operating (loss) profit	(8.9		)	115.4			12.9		(12.0		)	—			107.4
Interest expense, net	2.9			4.2			—		1.3			—			8.4
Equity earnings in subsidiaries	(82.8		)	4.6			—		0.1			78.1			—
Miscellaneous expense (income), net	1.5			(1.0		)	—		(0.7		)	—			(0.2		)
Income (loss) before income taxes	69.5			107.6			12.9		(12.7		)	(78.1		)	99.2
Income tax (benefit) expense	(3.5		)	31.3			1.6		(3.2		)	—			26.2
Net income (loss)	73.0			76.3			11.3		(9.5		)	(78.1		)	73.0

Other comprehensive income (loss) items:
Foreign currency translation adjustments	(7.6		)	(7.6		)	—		—			7.6			(7.6		)
Defined benefit plans, net of tax	1.9			1.4			—		0.5			(1.9		)	1.9
Other comprehensive (loss) income items, net of tax	(5.7		)	(6.2		)	—		0.5			5.7			(5.7		)
Comprehensive income (loss)	$	67.3		$	70.1		$	11.3	$	(9.0	)	$	(72.4	)	$	67.3

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME

(In millions)



	Nine Months Ended May 31, 2019
	Parent			Subsidiary Issuer			Subsidiary Guarantor		Non- Guarantors			Consolidating Adjustments			Consolidated
Net sales:
External sales	$	—		$	2,429.0		$	—	$	305.6		$	—		$	2,734.6
Intercompany sales	—			—			40.2		151.2			(191.4		)	—
Total sales	—			2,429.0			40.2		456.8			(191.4		)	2,734.6
Cost of products sold	—			1,467.4			—		330.1			(147.9		)	1,649.6
Gross profit	—			961.6			40.2		126.7			(43.5		)	1,085.0
Selling, distribution, and administrative expenses	30.4			650.2			2.1		111.9			(43.5		)	751.1
Intercompany charges	(3.0		)	(0.1		)	—		3.1			—			—
Special charge	—			1.3			—		—			—			1.3
Operating (loss) profit	(27.4		)	310.2			38.1		11.7			—			332.6
Interest expense, net	8.8			13.1			—		3.7			—			25.6
Equity earnings in subsidiaries	(265.8		)	(19.9		)	—		0.1			285.6			—
Miscellaneous expense (income), net	4.8			(1.4		)	—		(0.8		)	—			2.6
Income before income taxes	224.8			318.4			38.1		8.7			(285.6		)	304.4
Income tax (benefit) expense	(9.5		)	68.8			8.0		2.8			—			70.1
Net income	234.3			249.6			30.1		5.9			(285.6		)	234.3

Other comprehensive income (loss) items:
Foreign currency translation adjustments	(12.6		)	(12.6		)	—		—			12.6			(12.6		)
Defined benefit plans, net of tax	5.3			3.4			—		0.8			(4.2		)	5.3
Other comprehensive (loss) income items, net of tax	(7.3		)	(9.2		)	—		0.8			8.4			(7.3		)
Comprehensive income	$	227.0		$	240.4		$	30.1	$	6.7		$	(277.2	)	$	227.0

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME

(In millions)



	Nine Months Ended May 31, 2018
	Parent			Subsidiary Issuer			Subsidiary Guarantor		Non- Guarantors			Consolidating Adjustments			Consolidated
Net sales:
External sales	$	—		$	2,328.3		$	—	$	290.6		$	—		$	2,618.9
Intercompany sales	—			—			38.2		129.3			(167.5		)	—
Total sales	—			2,328.3			38.2		419.9			(167.5		)	2,618.9
Cost of products sold	—			1,348.1			—		318.8			(121.5		)	1,545.4
Gross profit	—			980.2			38.2		101.1			(46.0		)	1,073.5
Selling, distribution, and administrative expenses	30.4			647.2			2.4		111.7			(46.0		)	745.7
Intercompany charges	(2.6		)	(0.2		)	—		2.8			—			—
Special charge	—			10.7			—		—			—			10.7
Operating (loss) profit	(27.8		)	322.5			35.8		(13.4		)	—			317.1
Interest expense, net	8.2			12.2			—		4.1			—			24.5
Equity earnings in subsidiaries	(269.9		)	2.5			—		0.2			267.2			—
Miscellaneous expense (income), net	4.5			0.3			—		(1.0		)	—			3.8
Income (loss) before income taxes	229.4			307.5			35.8		(16.7		)	(267.2		)	288.8
Income tax (benefit) expense	(12.0		)	58.5			4.7		(3.8		)	—			47.4
Net income (loss)	241.4			249.0			31.1		(12.9		)	(267.2		)	241.4

Other comprehensive income (loss) items:
Foreign currency translation adjustments	(15.6		)	(15.6		)	—		—			15.6			(15.6		)
Defined benefit plans, net of tax	5.3			3.9			—		1.4			(5.3		)	5.3
Other comprehensive (loss) income items, net of tax	(10.3		)	(11.7		)	—		1.4			10.3			(10.3		)
Comprehensive income (loss)	$	231.1		$	237.3		$	31.1	$	(11.5	)	$	(256.9	)	$	231.1

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

(In millions)



	Nine Months Ended May 31, 2019
	Parent			Subsidiary Issuer			Subsidiary Guarantor		Non- Guarantors			Consolidating Adjustments		Consolidated
Net cash provided by operating activities	$	245.0		$	48.4		$	—	$	18.6		$	—	$	312.0
Cash flows from investing activities:
Purchases of property, plant, and equipment	—			(33.0		)	—		(6.8		)	—		(39.8		)
Other investing activities	0.8			2.1			—		—			—		2.9
Net cash provided by (used for) investing activities	0.8			(30.9		)	—		(6.8		)	—		(36.9		)
Cash flows from financing activities:
Borrowings on credit facility	—			86.5			—		—			—		86.5
Repayments of borrowings on credit facility	—			(86.5		)	—		—			—		(86.5		)
Repayments of long-term debt	—			—			—		(0.3		)	—		(0.3		)
Proceeds from stock option exercises and other	0.5			—			—		—			—		0.5
Repurchases of common stock	(48.7		)	—			—		—			—		(48.7		)
Withholding taxes on net settlement of equity awards	(4.9		)	—			—		—			—		(4.9		)
Dividends paid	(15.6		)	—			—		—			—		(15.6		)
Net cash used for financing activities	(68.7		)	—			—		(0.3		)	—		(69.0		)
Effect of exchange rates changes on cash	0.2			(0.3		)	—		(1.4		)	—		(1.5		)
Net change in cash and cash equivalents	177.3			17.2			—		10.1			—		204.6
Cash and cash equivalents at beginning of period	80.5			—			—		48.6			—		129.1
Cash and cash equivalents at end of period	$	257.8		$	17.2		$	—	$	58.7		$	—	$	333.7

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

(In millions)



	Nine Months Ended May 31, 2018
	Parent			Subsidiary Issuer			Subsidiary Guarantor		Non- Guarantors			Consolidating Adjustments			Consolidated
Net cash provided by operating activities	$	252.6		$	19.1		$	—	$	28.0		$	—		$	299.7
Cash flows from investing activities:
Purchases of property, plant, and equipment	—			(21.9		)	—		(10.3		)	—			(32.2		)
Investments in subsidiaries	(163.5		)	—			—		—			163.5			—
Acquisitions of business, net of cash acquired	—			(136.6		)	—		(26.9		)	—			(163.5		)
Other investing activities	1.0			—			—		—			—			1.0
Net cash used for investing activities	(162.5		)	(158.5		)	—		(37.2		)	163.5			(194.7		)
Cash flows from financing activities:
Borrowings on credit facility	—			237.3			—		—			—			237.3
Repayments of borrowings on credit facility	—			(236.1		)	—		—			—			(236.1		)
Repayments of long-term debt	—			—			—		(0.3		)	—			(0.3		)
Proceeds from stock option exercises and other	1.6			—			—		—			—			1.6
Repurchases of common stock	(298.4		)	—			—		—			—			(298.4		)
Withholding taxes on net settlement of equity awards	(7.2		)	—			—		—			—			(7.2		)
Intercompany capital	—			136.6			—		26.9			(163.5		)	—
Dividends paid	(16.2		)	—			—		—			—			(16.2		)
Net cash (used for) provided by financing activities	(320.2		)	137.8			—		26.6			(163.5		)	(319.3		)
Effect of exchange rate changes on cash	—			1.6			—		(4.1		)	—			(2.5		)
Net change in cash and cash equivalents	(230.1		)	—			—		13.3			—			(216.8		)
Cash and cash equivalents at beginning of period	237.7			—			—		73.4			—			311.1
Cash and cash equivalents at end of period	$	7.6		$	—		$	—	$	86.7		$	—		$	94.3

Description of Business and Basis of Presentation (Details)	9 Months Ended
	May 31, 2019 Segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	1

Acquisitions and Investments - Narrative (Details) $ in Millions	9 Months Ended
	May 31, 2019 USD ($) acquisition	Aug. 31, 2018 USD ($)	May 31, 2018 USD ($)	Aug. 31, 2017 USD ($)
Business Acquisition [Line Items]
Number of acquisitions completed \| acquisition	0
Goodwill	$ 964.1	$ 970.6	$ 970.5	$ 900.9
Fiscal 2018 Acquisitions
Business Acquisition [Line Items]
Goodwill	76.8
Identified intangible assets	$ 81.8
Weighted average useful life of acquired intangible assets	14 years

New Accounting Pronouncements (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	May 31, 2019	May 31, 2018	May 31, 2019	May 31, 2018	Sep. 01, 2018
New Accounting Pronouncement, Early Adoption [Line Items]
Decrease in cash flows from operations			$ (312.0)	$ (299.7)
Increase in cash flows from investing activities			(36.9)	(194.7)
Increase to operating profit and corresponding increase to Miscellaneous expense (income)	$ (0.2)	$ 0.2	(2.6)	(3.8)
ASU 2016-15
New Accounting Pronouncement, Early Adoption [Line Items]
Proceeds from corporate-owned life insurance policies			$ 0.8	1.0
Decrease in cash flows from operations				1.0
Increase in cash flows from investing activities				1.0
ASU 2017-07
New Accounting Pronouncement, Early Adoption [Line Items]
Increase to operating profit and corresponding increase to Miscellaneous expense (income)		$ (1.5)		$ (4.6)
ASC 606
New Accounting Pronouncement, Early Adoption [Line Items]
ASC 606 adjustments					$ 13.0

New Accounting Pronouncements - Effects of ASU 2017-07 on Consolidated Statements of Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	May 31, 2019	May 31, 2018	May 31, 2019	May 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cost of products sold	$ 564.0	$ 554.9	$ 1,649.6	$ 1,545.4
Selling, distribution, and administrative expenses	263.4	271.8	751.1	745.7
Miscellaneous expense (income), net	$ 0.2	(0.2)	$ 2.6	3.8
ASU 2017-07
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cost of products sold		0.3		1.0
Selling, distribution, and administrative expenses		(1.8)		(5.6)
Miscellaneous expense (income), net		1.5		4.6
Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cost of products sold		554.6		1,544.4
Selling, distribution, and administrative expenses		273.6		751.3
Miscellaneous expense (income), net		$ (1.7)		$ (0.8)

New Accounting Pronouncements - Effects of Adoption of ASC 606 on Consolidated Statement of Comprehensive Income (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended						9 Months Ended
	May 31, 2019	Feb. 28, 2019	Nov. 30, 2018	May 31, 2018	Feb. 28, 2018	Nov. 30, 2017	May 31, 2019	May 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net sales	$ 947.6			$ 944.0			$ 2,734.6	$ 2,618.9
Cost of products sold	564.0			554.9			1,649.6	1,545.4
Selling, distribution, and administrative expenses	263.4			271.8			751.1	745.7
Operating profit	120.3			107.4			332.6	317.1
Income tax expense	23.4			26.2			70.1	47.4
Net income	$ 88.4	$ 66.3	$ 79.6	$ 73.0	$ 96.9	$ 71.5	$ 234.3	$ 241.4
Basic earnings per share (in dollars per share)	$ 2.23			$ 1.81			$ 5.89	$ 5.86
Diluted earnings per share (in dollars per share)	$ 2.22			$ 1.80			$ 5.87	$ 5.85
Without ASC 606 Adoption \| ASC 606
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net sales	$ 951.4						$ 2,742.4
Cost of products sold	566.2						1,653.6
Selling, distribution, and administrative expenses	263.4						750.9
Operating profit	121.9						336.6
Income tax expense	23.8						71.1
Net income	$ 89.6						$ 237.3
Basic earnings per share (in dollars per share)	$ 2.26						$ 5.97
Diluted earnings per share (in dollars per share)	$ 2.25						$ 5.95
Higher (Lower) \| ASC 606
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net sales	$ (3.8)						$ (7.8)
Cost of products sold	(2.2)						(4.0)
Selling, distribution, and administrative expenses	0.0						0.2
Operating profit	(1.6)						(4.0)
Income tax expense	(0.4)						(1.0)
Net income	$ (1.2)						$ (3.0)
Basic earnings per share (in dollars per share)	$ (0.03)						$ (0.08)
Diluted earnings per share (in dollars per share)	$ (0.03)						$ (0.08)

New Accounting Pronouncements - Effects of Adoption of ASC 606 on Consolidated Balance Sheets (Details) - USD ($) $ in Millions	May 31, 2019	Aug. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accounts receivable, net	$ 586.0	$ 637.9
Prepayments and other current assets	69.0	32.3
Other accrued liabilities	176.7	164.2
Deferred income tax liabilities	89.6	92.5
Other long-term liabilities	98.7	67.9
Retained earnings	2,204.9	$ 1,999.2
Without ASC 606 Adoption \| ASC 606
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accounts receivable, net	564.7
Prepayments and other current assets	53.7
Other accrued liabilities	139.8
Deferred income tax liabilities	94.8
Other long-term liabilities	77.8
Retained earnings	2,220.9
Higher (Lower) \| ASC 606
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accounts receivable, net	21.3
Prepayments and other current assets	15.3
Other accrued liabilities	36.9
Deferred income tax liabilities	(5.2)
Other long-term liabilities	20.9
Retained earnings	$ (16.0)

Revenue Recognition (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Revenue Recognition (Details) - USD ($) $ in Millions	May 31, 2019	May 31, 2018	May 31, 2019	May 31, 2018	Sep. 01, 2018
Disaggregation of Revenue [Line Items]
Right of return assets	$ 15.3		$ 15.3		$ 16.4
Timing of revenue recognition			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			$ 3.7
Revenue \| Concentration \| Short-term Contract with Customers
Disaggregation of Revenue [Line Items]
Revenues generated from short-term contracts (percent)	95.00%	95.00%	95.00%	95.00%
Revenue \| Concentration \| Contracts With Multiple Performance Obligations
Disaggregation of Revenue [Line Items]
Revenues generated from short-term contracts (percent)	5.00%	5.00%	5.00%	5.00%
Rights of return, cash discounts and other miscellaneous credits
Disaggregation of Revenue [Line Items]
Refund liabilities	$ 38.8		$ 38.8		41.2
Marketing and trade-promotion programs
Disaggregation of Revenue [Line Items]
Refund liabilities	$ 31.8		$ 31.8		$ 43.9

Revenue Recognition - Contract Balances (Details) - USD ($) $ in Millions	May 31, 2019	Sep. 01, 2018
Revenue from Contract with Customer [Abstract]
Current deferred revenues	$ 8.5	$ 4.8
Non-current deferred revenues	$ 43.7	$ 35.0

Revenue Recognition - Disaggregated Revenues (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	May 31, 2019	May 31, 2018	May 31, 2019	May 31, 2018
Disaggregation of Revenue [Line Items]
Total sales	$ 947.6	$ 944.0	$ 2,734.6	$ 2,618.9
Independent sales network
Disaggregation of Revenue [Line Items]
Total sales	650.3		1,871.4
Direct sales network
Disaggregation of Revenue [Line Items]
Total sales	97.2		283.5
Retail sales
Disaggregation of Revenue [Line Items]
Total sales	58.7		217.8
Corporate accounts
Disaggregation of Revenue [Line Items]
Total sales	97.1		224.5
Other
Disaggregation of Revenue [Line Items]
Total sales	$ 44.3		$ 137.4

Fair Value Measurements (Details) - USD ($) $ in Millions	May 31, 2019	Aug. 31, 2018	May 31, 2018	Aug. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 333.7	$ 129.1
Liabilities:
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	333.7	129.1	$ 94.3	$ 311.1
Carrying Value \| Senior unsecured public notes, net of unamortized discount and deferred costs
Liabilities:
Carrying and estimated fair values of financial instruments	349.8	349.5
Carrying Value \| Industrial revenue bond \| Industrial Revenue Bond Maturing in 2021
Liabilities:
Carrying and estimated fair values of financial instruments	4.0	4.0
Carrying Value \| Bank loans
Liabilities:
Carrying and estimated fair values of financial instruments	2.8	3.3
Fair Value \| Level 2 \| Senior unsecured public notes, net of unamortized discount and deferred costs
Liabilities:
Carrying and estimated fair values of financial instruments	355.1	361.7
Fair Value \| Level 2 \| Industrial revenue bond \| Industrial Revenue Bond Maturing in 2021
Liabilities:
Carrying and estimated fair values of financial instruments	4.0	4.0
Fair Value \| Level 2 \| Bank loans
Liabilities:
Carrying and estimated fair values of financial instruments	$ 3.0	$ 3.3

Goodwill and Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	May 31, 2019	May 31, 2018	May 31, 2019	May 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 7.7	$ 7.2	$ 23.1	$ 20.5
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Amortization expense in fiscal 2019	30.7		30.7
Amortization expense in fiscal 2020	30.7		30.7
Amortization expense in fiscal 2021	27.9		27.9
Amortization expense in fiscal 2022	27.0		27.0
Amortization expense in fiscal 2023	$ 25.8		$ 25.8

Goodwill and Intangible Assets (Changes in Goodwill) (Details) - USD ($) $ in Millions	9 Months Ended
	May 31, 2019	May 31, 2018
Goodwill [Roll Forward]
Goodwill, Beginning Balance	$ 970.6	$ 900.9
Additions from acquired businesses	0.0	75.7
Adjustments to provisional amounts	(0.2)	0.0
Foreign currency translation adjustments	(6.3)	(6.1)
Goodwill, Ending Balance	$ 964.1	$ 970.5

Inventories (Details) - USD ($) $ in Millions	May 31, 2019	Aug. 31, 2018
Inventory, Net [Abstract]
Raw materials, supplies, and work in process	$ 178.9	$ 196.8
Finished goods	240.3	251.8
Inventories excluding reserves	419.2	448.6
Less: Reserves	(28.6)	(36.8)
Total inventories	$ 390.6	$ 411.8

Earnings Per Share (Basic and Diluted Earnings per Share - Treasury Stock Method) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended						9 Months Ended
	May 31, 2019	Feb. 28, 2019	Nov. 30, 2018	May 31, 2018	Feb. 28, 2018	Nov. 30, 2017	May 31, 2019	May 31, 2018
Earnings Per Share [Abstract]
Net Income	$ 88.4	$ 66.3	$ 79.6	$ 73.0	$ 96.9	$ 71.5	$ 234.3	$ 241.4
Basic weighted average shares outstanding (in shares)	39.7			40.4			39.8	41.2
Common stock equivalents (in shares)	0.1			0.1			0.1	0.1
Diluted weighted average shares outstanding (in shares)	39.8			40.5			39.9	41.3
Basic earnings per share (in dollars per share)	$ 2.23			$ 1.81			$ 5.89	$ 5.86
Diluted earnings per share (in dollars per share)	$ 2.22			$ 1.80			$ 5.87	$ 5.85

- Definition

The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period.

+ References

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+ Details

- Definition

The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Earnings Per Share (Antidilutive Securities Excluded from EPS Computation) (Details) - shares	3 Months Ended		9 Months Ended
	May 31, 2019	May 31, 2018	May 31, 2019	May 31, 2018
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options and restricted stock awards excluded from diluted earnings per share (in shares)	283,731	239,230	297,445	179,385
Restricted stock awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options and restricted stock awards excluded from diluted earnings per share (in shares)	107,800	240,783	169,672	257,617

Changes in Stockholders' Equity (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended						9 Months Ended
	May 31, 2019	Feb. 28, 2019	Nov. 30, 2018	May 31, 2018	Feb. 28, 2018	Nov. 30, 2017	May 31, 2019	May 31, 2018	Sep. 01, 2018
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 1,801.8	$ 1,750.9	$ 1,716.8	$ 1,635.8	$ 1,726.1	$ 1,665.6	$ 1,716.8	$ 1,665.6
Net income	88.4	66.3	79.6	73.0	96.9	71.5	234.3	241.4
Other comprehensive income (loss)	(7.4)	6.3	(6.2)	(5.7)	4.3	(8.9)
Reclassification of stranded tax effects of the TCJA					0.0
Amortization, issuance, and cancellations of restricted stock grants	7.0	7.1	3.8	6.5	7.6	2.6
Employee stock purchase plan issuances	0.2	0.2	0.1	0.2	0.1	0.2
Cash dividends of $0.13 per share paid on common stock	(5.1)	(5.3)	(5.2)	(5.3)	(5.4)	(5.5)
Stock options exercised					0.5	0.6
Repurchases of common stock		(23.7)	(25.0)	(104.1)	(194.3)
Ending balance	$ 1,884.9	$ 1,801.8	$ 1,750.9	$ 1,600.4	$ 1,635.8	$ 1,726.1	1,884.9	1,600.4
Cash dividends paid (usd per share)	$ 0.13	$ 0.13	$ 0.13	$ 0.13	$ 0.13	$ 0.13
Common Stock Outstanding
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 0.5	$ 0.5	$ 0.5	$ 0.5	$ 0.5	$ 0.5	$ 0.5	$ 0.5
Beginning balance (shares)	39.7	39.9	40.0	40.8	41.9	41.8	40.0	41.8
Amortization, issuance, and cancellations of restricted stock grants (shares)	0.0	0.0	0.1	0.0	0.1	0.1
Repurchases of common stock (shares)		(0.2)	(0.2)	(0.8)	(1.2)
Ending balance	$ 0.5	$ 0.5	$ 0.5	$ 0.5	$ 0.5	$ 0.5	$ 0.5	$ 0.5
Ending balance (shares)	39.7	39.7	39.9	40.0	40.8	41.9	39.7	40.0
Paid-in Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 917.5	$ 910.2	$ 906.3	$ 892.5	$ 884.3	$ 881.0	$ 906.3	$ 881.0
Amortization, issuance, and cancellations of restricted stock grants	7.0	7.1	3.8	6.5	7.6	2.5
Employee stock purchase plan issuances	0.2	0.2	0.1	0.2	0.1	0.2
Stock options exercised					0.5	0.6
Ending balance	924.7	917.5	910.2	899.2	892.5	884.3	924.7	899.2
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	2,121.6	2,060.6	1,999.2	1,828.5	1,725.9	1,659.9	1,999.2	1,659.9
Net income	88.4	66.3	79.6	73.0	96.9	71.5
Reclassification of stranded tax effects of the TCJA					11.1
Cash dividends of $0.13 per share paid on common stock	(5.1)	(5.3)	(5.2)	(5.3)	(5.4)	(5.5)
Ending balance	2,204.9	2,121.6	2,060.6	1,896.2	1,828.5	1,725.9	2,204.9	1,896.2
Accumulated Other Comprehensive Loss
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(114.7)	(121.0)	(114.8)	(115.4)	(108.6)	(99.7)	(114.8)	(99.7)
Other comprehensive income (loss)	(7.4)	6.3	(6.2)	(5.7)	4.3	(8.9)	(7.3)	(10.3)
Reclassification of stranded tax effects of the TCJA					(11.1)			(11.1)
Ending balance	(122.1)	(114.7)	(121.0)	(121.1)	(115.4)	(108.6)	(122.1)	(121.1)
Treasury Stock, at cost
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(1,123.1)	(1,099.4)	(1,074.4)	(970.3)	(776.0)	(776.1)	(1,074.4)	(776.1)
Amortization, issuance, and cancellations of restricted stock grants						0.1
Repurchases of common stock		(23.7)	(25.0)	(104.1)	(194.3)
Ending balance	$ (1,123.1)	$ (1,123.1)	$ (1,099.4)	$ (1,074.4)	$ (970.3)	$ (776.0)	$ (1,123.1)	$ (1,074.4)
ASC 606
Increase (Decrease) in Stockholders' Equity [Roll Forward]
ASC 606 adjustments									$ (13.0)
ASC 606 \| Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
ASC 606 adjustments									$ (13.0)

Comprehensive Income (Changes in Components of Accumulated Other Comprehensive Income (Loss) Items) (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	May 31, 2019	Feb. 28, 2019	Nov. 30, 2018	May 31, 2018	Feb. 28, 2018	Nov. 30, 2017	May 31, 2019	May 31, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ 1,801.8	$ 1,750.9	$ 1,716.8	$ 1,635.8	$ 1,726.1	$ 1,665.6	$ 1,716.8	$ 1,665.6
Net current period other comprehensive (loss) income	(7.4)	6.3	(6.2)	(5.7)	4.3	(8.9)
Reclassification of stranded tax effects of TCJA					0.0
Ending balance	1,884.9	1,801.8	1,750.9	1,600.4	1,635.8	1,726.1	1,884.9	1,600.4
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(114.7)	(121.0)	(114.8)	(115.4)	(108.6)	(99.7)	(114.8)	(99.7)
Other comprehensive (loss) income before reclassifications							(11.7)	(15.6)
Amounts reclassified from accumulated other comprehensive loss							4.4	5.3
Net current period other comprehensive (loss) income	(7.4)	6.3	(6.2)	(5.7)	4.3	(8.9)	(7.3)	(10.3)
Reclassification of stranded tax effects of TCJA					(11.1)			(11.1)
Ending balance	(122.1)	$ (114.7)	(121.0)	(121.1)	$ (115.4)	(108.6)	(122.1)	(121.1)
Foreign Currency Items
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance			(53.9)			(28.7)	(53.9)	(28.7)
Other comprehensive (loss) income before reclassifications							(12.6)	(15.6)
Amounts reclassified from accumulated other comprehensive loss							0.0	0.0
Net current period other comprehensive (loss) income	(8.7)			(7.6)			(12.6)	(15.6)
Reclassification of stranded tax effects of TCJA								0.0
Ending balance	(66.5)			(44.3)			(66.5)	(44.3)
Defined Benefit Pension Plans
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance			$ (60.9)			$ (71.0)	(60.9)	(71.0)
Other comprehensive (loss) income before reclassifications							0.9	0.0
Amounts reclassified from accumulated other comprehensive loss							4.4	5.3
Net current period other comprehensive (loss) income	1.3			1.9			5.3	5.3
Reclassification of stranded tax effects of TCJA								(11.1)
Ending balance	$ (55.6)			$ (76.8)			$ (55.6)	$ (76.8)

Comprehensive Income (Tax Amounts Allocated to Components of Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	May 31, 2019	Feb. 28, 2019	Nov. 30, 2018	May 31, 2018	Feb. 28, 2018	Nov. 30, 2017	May 31, 2019	May 31, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net current period other comprehensive (loss) income	$ (7.4)	$ 6.3	$ (6.2)	$ (5.7)	$ 4.3	$ (8.9)
Actuarial gain or loss, before tax							$ 1.3	$ 0.0
Actuarial gain or loss, tax							(0.4)	0.0
Actuarial gain or loss, net of tax							0.9	0.0
Other comprehensive loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive loss, before tax	(6.9)			(5.1)			(5.5)	(8.1)
Other comprehensive loss, tax	(0.5)			(0.6)			(1.8)	(2.2)
Net current period other comprehensive (loss) income	(7.4)	$ 6.3	$ (6.2)	(5.7)	$ 4.3	$ (8.9)	(7.3)	(10.3)
Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive loss, before tax	(8.7)			(7.6)			(12.6)	(15.6)
Other comprehensive loss, tax	0.0			0.0			0.0	0.0
Net current period other comprehensive (loss) income	(8.7)			(7.6)			(12.6)	(15.6)
Total defined benefit pension plans, net
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive loss, before tax	1.8			2.5			7.1	7.5
Other comprehensive loss, tax	(0.5)			(0.6)			(1.8)	(2.2)
Net current period other comprehensive (loss) income	1.3			1.9			5.3	5.3
Prior service cost
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive loss, before tax	0.8			0.8			2.3	2.4
Other comprehensive loss, tax	(0.2)			(0.1)			(0.5)	(0.7)
Net current period other comprehensive (loss) income	0.6			0.7			1.8	1.7
Actuarial losses
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive loss, before tax	1.0			1.7			3.1	5.1
Other comprehensive loss, tax	(0.3)			(0.5)			(0.8)	(1.5)
Net current period other comprehensive (loss) income	$ 0.7			$ 1.2			2.3	3.6
Settlement losses
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive loss, before tax							0.4	0.0
Other comprehensive loss, tax							(0.1)	0.0
Net current period other comprehensive (loss) income							$ 0.3	$ 0.0

Debt and Lines of Credit (Details)		3 Months Ended		9 Months Ended
Debt and Lines of Credit (Details)	Jun. 29, 2018 USD ($) installment	May 31, 2019 USD ($)	May 31, 2018 USD ($)	May 31, 2019 USD ($)	May 31, 2018 USD ($)	Aug. 31, 2018 USD ($)
Interest Revenue (Expense), Net [Abstract]
Interest expense		$ 9,100,000	$ 8,900,000	$ 27,400,000	$ 26,300,000
Interest income		(800,000)	(500,000)	(1,800,000)	(1,800,000)
Interest expense, net		8,300,000	$ 8,400,000	25,600,000	$ 24,500,000
Lines of Credit
Line of Credit Facility [Abstract]
Executed revolving credit facility	$ 800,000,000.0
Minimum interest coverage ratio	2.50
Maximum leverage ratio	3.50
Outstanding letters of credit		9,500,000		9,500,000
Lines of Credit \| Minimum
Line of Credit Facility [Abstract]
Facility fee (percent)	0.125%
Lines of Credit \| Maximum
Line of Credit Facility [Abstract]
Facility fee (percent)	0.25%
Lines of Credit \| New Revolving Credit Facility
Line of Credit Facility [Abstract]
Executed revolving credit facility	$ 400,000,000.0
Revolving credit facility term	5 years
Borrowings outstanding		0		0
Lines of Credit \| Unsecured Delayed Draw Term Loan
Line of Credit Facility [Abstract]
Executed revolving credit facility	$ 400,000,000.0
Number of separate installments allowed during borrowing period \| installment	4
Lines of Credit \| Previous Credit Facility
Line of Credit Facility [Abstract]
Borrowings outstanding						$ 0
Lines of Credit \| Revolving Credit Facility Maturing August 27, 2019
Line of Credit Facility [Abstract]
Additional borrowing capacity under revolving credit facility		794,700,000		794,700,000
Letters of Credit \| Revolving Credit Facility Maturing August 27, 2019
Line of Credit Facility [Abstract]
Outstanding letters of credit		5,300,000		5,300,000
Senior unsecured public notes \| Senior Unsecured Notes Maturing December 2019
Debt Instruments [Abstract]
Debt outstanding		$ 350,000,000.0		$ 350,000,000.0
Interest rate (percent)		6.00%		6.00%
Amount to be refinanced				$ 341,100,000
Industrial revenue bond \| Industrial Revenue Bond Maturing in 2021
Debt Instruments [Abstract]
Debt outstanding		$ 4,000,000.0		4,000,000.0
Bank loans \| 2016 Fixed-rate Bank Loans
Debt Instruments [Abstract]
Debt outstanding		$ 2,800,000		$ 2,800,000
Eurocurrency Rate \| Lines of Credit \| New Revolving Credit Facility \| Minimum
Line of Credit Facility [Abstract]
Applicable margins based on company's leverage ratio, percentage	1.00%
Eurocurrency Rate \| Lines of Credit \| New Revolving Credit Facility \| Maximum
Line of Credit Facility [Abstract]
Applicable margins based on company's leverage ratio, percentage	1.375%
Eurocurrency Rate \| Lines of Credit \| Unsecured Delayed Draw Term Loan \| Minimum
Line of Credit Facility [Abstract]
Applicable margins based on company's leverage ratio, percentage	0.875%
Eurocurrency Rate \| Lines of Credit \| Unsecured Delayed Draw Term Loan \| Maximum
Line of Credit Facility [Abstract]
Applicable margins based on company's leverage ratio, percentage	1.25%
Base rate \| Lines of Credit \| New Revolving Credit Facility \| Minimum
Line of Credit Facility [Abstract]
Applicable margins based on company's leverage ratio, percentage	0.00%
Base rate \| Lines of Credit \| New Revolving Credit Facility \| Maximum
Line of Credit Facility [Abstract]
Applicable margins based on company's leverage ratio, percentage	0.375%
Base rate \| Lines of Credit \| Unsecured Delayed Draw Term Loan \| Minimum
Line of Credit Facility [Abstract]
Applicable margins based on company's leverage ratio, percentage	0.00%
Base rate \| Lines of Credit \| Unsecured Delayed Draw Term Loan \| Maximum
Line of Credit Facility [Abstract]
Applicable margins based on company's leverage ratio, percentage	0.25%
Year one \| Lines of Credit \| Unsecured Delayed Draw Term Loan
Line of Credit Facility [Abstract]
Quarterly payment (percent)	2.50%
Year two \| Lines of Credit \| Unsecured Delayed Draw Term Loan
Line of Credit Facility [Abstract]
Quarterly payment (percent)	2.50%
Year three \| Lines of Credit \| Unsecured Delayed Draw Term Loan
Line of Credit Facility [Abstract]
Quarterly payment (percent)	5.00%
Year four \| Lines of Credit \| Unsecured Delayed Draw Term Loan
Line of Credit Facility [Abstract]
Quarterly payment (percent)	5.00%
Year five and after \| Lines of Credit \| Unsecured Delayed Draw Term Loan
Line of Credit Facility [Abstract]
Quarterly payment (percent)	7.50%

Commitments and Contingencies (Details) - USD ($) $ in Millions	9 Months Ended
	May 31, 2019	May 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Standard warranty term	5 years
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning balance	$ 27.3	$ 22.0
Warranty and recall costs	12.9	21.4
Payments and other deductions	(14.2)	(19.5)
Acquired warranty and recall liabilities	0.0	0.6
ASC 606 adjustments	(14.8)	0.0
Ending balance	$ 11.2	$ 24.5

Share-based Payments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Share-based Payments (Details) - USD ($) $ in Millions	May 31, 2019	May 31, 2018	May 31, 2019	May 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based payment expense	$ 7.6	$ 7.6	$ 22.9	$ 24.4
Shares issued from option exercises (shares)	0	0	0	9,364

Pension Plans (Details) - Pension Plan - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	May 31, 2019	May 31, 2018	May 31, 2019	May 31, 2018
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 0.8	$ 0.7	$ 2.4	$ 2.1
Interest cost	2.2	2.2	6.7	6.6
Expected return on plan assets	(3.1)	(3.1)	(9.4)	(9.3)
Amortization of prior service cost	0.8	0.8	2.3	2.4
Settlement loss	0.0	0.0	0.4	0.0
Recognized actuarial loss	1.0	1.7	3.1	5.1
Net periodic pension cost	$ 1.7	$ 2.3	$ 5.5	$ 6.9

Special Charge (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Special Charge (Details) - USD ($) $ in Millions	May 31, 2019	May 31, 2018	May 31, 2019	May 31, 2018
Restructuring Cost and Reserve [Line Items]
Special charge	$ (0.1)	$ 9.9	$ 1.3	$ 10.7
Restructuring Reserve [Roll Forward]
Balance, beginning of period			10.1
Severance costs			(0.8)
Payments made during the period			(5.4)
Balance, end of period	3.9		3.9
Fiscal 2018 Actions
Restructuring Reserve [Roll Forward]
Balance, beginning of period			9.2
Severance costs			(0.4)
Payments made during the period			(4.9)
Balance, end of period	3.9		3.9
Fiscal 2017 Actions
Restructuring Reserve [Roll Forward]
Balance, beginning of period			0.9
Severance costs			(0.4)
Payments made during the period			(0.5)
Balance, end of period	0.0		0.0
Severance and employee-related costs
Restructuring Cost and Reserve [Line Items]
Special charge	0.0	9.9	(0.8)	10.5
Move and other restructuring costs
Restructuring Cost and Reserve [Line Items]
Special charge	$ (0.1)	$ 0.0	$ 2.1	$ 0.2

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Feb. 28, 2019	May 31, 2019
Income Tax Disclosure [Abstract]
Net tax benefit related to preliminary TCJA impacts	$ 0.9
Estimated undistributed earnings of foreign subsidiaries		$ 84.4
Deferred income tax liability for certain foreign withholding taxes and U.S. state taxes	$ 0.6

Supplemental Guarantor Condensed Consolidating Financial Statements (Balance Sheets) (Details) - USD ($) $ in Millions	May 31, 2019	Feb. 28, 2019	Nov. 30, 2018	Aug. 31, 2018	May 31, 2018	Feb. 28, 2018	Nov. 30, 2017	Aug. 31, 2017
Current Assets:
Cash and cash equivalents	$ 333.7			$ 129.1
Accounts receivable, net	586.0			637.9
Inventories	390.6			411.8
Other current assets	69.0			32.3
Total current assets	1,379.3			1,211.1
Property, plant, and equipment, net	280.5			286.7
Goodwill	964.1			970.6	$ 970.5			$ 900.9
Intangible assets, net	473.1			498.7
Deferred income taxes	2.8			2.9
Other long-term assets	21.3			18.8
Investments in and amounts due from affiliates	0.0			0.0
Total assets	3,121.1			2,988.8
Current Liabilities:
Accounts payable	378.8			451.1
Current maturities of long-term debt	9.1			0.4
Other accrued liabilities	243.1			231.2
Total current liabilities	631.0			682.7
Long-term debt	347.5			356.4
Deferred income taxes	89.6			92.5
Other long-term liabilities	168.1			140.4
Amounts due to affiliates	0.0			0.0
Total stockholders’ equity	1,884.9	$ 1,801.8	$ 1,750.9	1,716.8	$ 1,600.4	$ 1,635.8	$ 1,726.1	$ 1,665.6
Total liabilities and stockholders’ equity	3,121.1			2,988.8
Parent
Current Assets:
Cash and cash equivalents	257.8			80.5
Accounts receivable, net	0.0			0.0
Inventories	0.0			0.0
Other current assets	20.8			2.3
Total current assets	278.6			82.8
Property, plant, and equipment, net	0.2			0.2
Goodwill	0.0			0.0
Intangible assets, net	0.0			0.0
Deferred income taxes	36.0			36.4
Other long-term assets	0.5			1.2
Investments in and amounts due from affiliates	1,675.5			1,707.0
Total assets	1,990.8			1,827.6
Current Liabilities:
Accounts payable	0.7			0.3
Current maturities of long-term debt	0.0			0.0
Other accrued liabilities	8.4			18.8
Total current liabilities	9.1			19.1
Long-term debt	0.0			0.0
Deferred income taxes	0.0			0.0
Other long-term liabilities	96.8			91.7
Amounts due to affiliates	0.0			0.0
Total stockholders’ equity	1,884.9			1,716.8
Total liabilities and stockholders’ equity	1,990.8			1,827.6
Subsidiary Issuer
Current Assets:
Cash and cash equivalents	17.2			0.0
Accounts receivable, net	510.5			560.7
Inventories	367.1			386.6
Other current assets	29.7			18.6
Total current assets	924.5			965.9
Property, plant, and equipment, net	222.1			226.8
Goodwill	745.7			746.5
Intangible assets, net	274.9			286.6
Deferred income taxes	0.0			0.0
Other long-term assets	19.0			15.6
Investments in and amounts due from affiliates	453.8			370.6
Total assets	2,640.0			2,612.0
Current Liabilities:
Accounts payable	357.8			420.7
Current maturities of long-term debt	8.7			0.0
Other accrued liabilities	188.5			170.1
Total current liabilities	555.0			590.8
Long-term debt	345.1			353.5
Deferred income taxes	103.3			106.5
Other long-term liabilities	57.5			34.0
Amounts due to affiliates	0.0			0.0
Total stockholders’ equity	1,579.1			1,527.2
Total liabilities and stockholders’ equity	2,640.0			2,612.0
Subsidiary Guarantor
Current Assets:
Cash and cash equivalents	0.0			0.0
Accounts receivable, net	0.0			0.0
Inventories	0.0			0.0
Other current assets	0.0			0.0
Total current assets	0.0			0.0
Property, plant, and equipment, net	0.0			0.0
Goodwill	2.7			2.7
Intangible assets, net	104.3			106.5
Deferred income taxes	0.0			0.0
Other long-term assets	0.0			0.0
Investments in and amounts due from affiliates	311.6			279.5
Total assets	418.6			388.7
Current Liabilities:
Accounts payable	0.0			0.0
Current maturities of long-term debt	0.0			0.0
Other accrued liabilities	0.0			0.0
Total current liabilities	0.0			0.0
Long-term debt	0.0			0.0
Deferred income taxes	0.0			0.0
Other long-term liabilities	0.0			0.0
Amounts due to affiliates	0.0			0.0
Total stockholders’ equity	418.6			388.7
Total liabilities and stockholders’ equity	418.6			388.7
Non- Guarantors
Current Assets:
Cash and cash equivalents	58.7			48.6
Accounts receivable, net	75.5			77.2
Inventories	23.5			25.2
Other current assets	18.5			11.4
Total current assets	176.2			162.4
Property, plant, and equipment, net	58.2			59.7
Goodwill	215.7			221.4
Intangible assets, net	93.9			105.6
Deferred income taxes	6.3			6.2
Other long-term assets	1.8			2.0
Investments in and amounts due from affiliates	0.0			0.0
Total assets	552.1			557.3
Current Liabilities:
Accounts payable	20.3			30.1
Current maturities of long-term debt	0.4			0.4
Other accrued liabilities	46.2			42.3
Total current liabilities	66.9			72.8
Long-term debt	2.4			2.9
Deferred income taxes	25.8			25.7
Other long-term liabilities	13.8			14.7
Amounts due to affiliates	126.4			138.8
Total stockholders’ equity	316.8			302.4
Total liabilities and stockholders’ equity	552.1			557.3
Consolidating Adjustments
Current Assets:
Cash and cash equivalents	0.0			0.0
Accounts receivable, net	0.0			0.0
Inventories	0.0			0.0
Other current assets	0.0			0.0
Total current assets	0.0			0.0
Property, plant, and equipment, net	0.0			0.0
Goodwill	0.0			0.0
Intangible assets, net	0.0			0.0
Deferred income taxes	(39.5)			(39.7)
Other long-term assets	0.0			0.0
Investments in and amounts due from affiliates	(2,440.9)			(2,357.1)
Total assets	(2,480.4)			(2,396.8)
Current Liabilities:
Accounts payable	0.0			0.0
Current maturities of long-term debt	0.0			0.0
Other accrued liabilities	0.0			0.0
Total current liabilities	0.0			0.0
Long-term debt	0.0			0.0
Deferred income taxes	(39.5)			(39.7)
Other long-term liabilities	0.0			0.0
Amounts due to affiliates	(126.4)			(138.8)
Total stockholders’ equity	(2,314.5)			(2,218.3)
Total liabilities and stockholders’ equity	$ (2,480.4)			$ (2,396.8)

Supplemental Guarantor Condensed Consolidating Financial Statements (Income Statement) (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	May 31, 2019	Feb. 28, 2019	Nov. 30, 2018	May 31, 2018	Feb. 28, 2018	Nov. 30, 2017	May 31, 2019	May 31, 2018
Condensed Financial Statements, Captions [Line Items]
Total sales	$ 947.6			$ 944.0			$ 2,734.6	$ 2,618.9
Cost of products sold	564.0			554.9			1,649.6	1,545.4
Gross profit	383.6			389.1			1,085.0	1,073.5
Selling, distribution, and administrative expenses	263.4			271.8			751.1	745.7
Intercompany charges	0.0			0.0			0.0	0.0
Special charge	(0.1)			9.9			1.3	10.7
Operating profit	120.3			107.4			332.6	317.1
Interest expense, net	8.3			8.4			25.6	24.5
Equity earnings in subsidiaries	0.0			0.0			0.0	0.0
Miscellaneous expense (income), net	0.2			(0.2)			2.6	3.8
Income before income taxes	111.8			99.2			304.4	288.8
Income tax (benefit) expense	23.4			26.2			70.1	47.4
Net income	88.4	$ 66.3	$ 79.6	73.0	$ 96.9	$ 71.5	234.3	241.4
Other comprehensive income (loss) items:
Foreign currency translation adjustments	(8.7)			(7.6)			(12.6)	(15.6)
Defined benefit plans, net of tax	1.3			1.9			5.3	5.3
Other comprehensive loss, net of tax	(7.4)			(5.7)			(7.3)	(10.3)
Comprehensive income	81.0			67.3			227.0	231.1
Parent
Condensed Financial Statements, Captions [Line Items]
Total sales	0.0			0.0			0.0	0.0
Cost of products sold	0.0			0.0			0.0	0.0
Gross profit	0.0			0.0			0.0	0.0
Selling, distribution, and administrative expenses	10.7			9.7			30.4	30.4
Intercompany charges	(0.8)			(0.8)			(3.0)	(2.6)
Special charge	0.0			0.0			0.0	0.0
Operating profit	(9.9)			(8.9)			(27.4)	(27.8)
Interest expense, net	2.7			2.9			8.8	8.2
Equity earnings in subsidiaries	(99.3)			(82.8)			(265.8)	(269.9)
Miscellaneous expense (income), net	1.4			1.5			4.8	4.5
Income before income taxes	85.3			69.5			224.8	229.4
Income tax (benefit) expense	(3.1)			(3.5)			(9.5)	(12.0)
Net income	88.4			73.0			234.3	241.4
Other comprehensive income (loss) items:
Foreign currency translation adjustments	(8.7)			(7.6)			(12.6)	(15.6)
Defined benefit plans, net of tax	1.3			1.9			5.3	5.3
Other comprehensive loss, net of tax	(7.4)			(5.7)			(7.3)	(10.3)
Comprehensive income	81.0			67.3			227.0	231.1
Subsidiary Issuer
Condensed Financial Statements, Captions [Line Items]
Total sales	843.5			843.7			2,429.0	2,328.3
Cost of products sold	500.3			477.0			1,467.4	1,348.1
Gross profit	343.2			366.7			961.6	980.2
Selling, distribution, and administrative expenses	230.4			240.7			650.2	647.2
Intercompany charges	(0.1)			0.7			(0.1)	(0.2)
Special charge	(0.1)			9.9			1.3	10.7
Operating profit	113.0			115.4			310.2	322.5
Interest expense, net	4.3			4.2			13.1	12.2
Equity earnings in subsidiaries	(7.9)			4.6			(19.9)	2.5
Miscellaneous expense (income), net	(0.7)			(1.0)			(1.4)	0.3
Income before income taxes	117.3			107.6			318.4	307.5
Income tax (benefit) expense	22.9			31.3			68.8	58.5
Net income	94.4			76.3			249.6	249.0
Other comprehensive income (loss) items:
Foreign currency translation adjustments	(8.7)			(7.6)			(12.6)	(15.6)
Defined benefit plans, net of tax	1.1			1.4			3.4	3.9
Other comprehensive loss, net of tax	(7.6)			(6.2)			(9.2)	(11.7)
Comprehensive income	86.8			70.1			240.4	237.3
Subsidiary Guarantor
Condensed Financial Statements, Captions [Line Items]
Total sales	13.9			13.7			40.2	38.2
Cost of products sold	0.0			0.0			0.0	0.0
Gross profit	13.9			13.7			40.2	38.2
Selling, distribution, and administrative expenses	0.7			0.8			2.1	2.4
Intercompany charges	0.0			0.0			0.0	0.0
Special charge	0.0			0.0			0.0	0.0
Operating profit	13.2			12.9			38.1	35.8
Interest expense, net	0.0			0.0			0.0	0.0
Equity earnings in subsidiaries	0.0			0.0			0.0	0.0
Miscellaneous expense (income), net	0.0			0.0			0.0	0.0
Income before income taxes	13.2			12.9			38.1	35.8
Income tax (benefit) expense	2.8			1.6			8.0	4.7
Net income	10.4			11.3			30.1	31.1
Other comprehensive income (loss) items:
Foreign currency translation adjustments	0.0			0.0			0.0	0.0
Defined benefit plans, net of tax	0.0			0.0			0.0	0.0
Other comprehensive loss, net of tax	0.0			0.0			0.0	0.0
Comprehensive income	10.4			11.3			30.1	31.1
Non- Guarantors
Condensed Financial Statements, Captions [Line Items]
Total sales	152.3			144.9			456.8	419.9
Cost of products sold	110.5			118.6			330.1	318.8
Gross profit	41.8			26.3			126.7	101.1
Selling, distribution, and administrative expenses	36.9			38.2			111.9	111.7
Intercompany charges	0.9			0.1			3.1	2.8
Special charge	0.0			0.0			0.0	0.0
Operating profit	4.0			(12.0)			11.7	(13.4)
Interest expense, net	1.3			1.3			3.7	4.1
Equity earnings in subsidiaries	0.0			0.1			0.1	0.2
Miscellaneous expense (income), net	(0.5)			(0.7)			(0.8)	(1.0)
Income before income taxes	3.2			(12.7)			8.7	(16.7)
Income tax (benefit) expense	0.8			(3.2)			2.8	(3.8)
Net income	2.4			(9.5)			5.9	(12.9)
Other comprehensive income (loss) items:
Foreign currency translation adjustments	0.0			0.0			0.0	0.0
Defined benefit plans, net of tax	0.2			0.5			0.8	1.4
Other comprehensive loss, net of tax	0.2			0.5			0.8	1.4
Comprehensive income	2.6			(9.0)			6.7	(11.5)
Consolidating Adjustments
Condensed Financial Statements, Captions [Line Items]
Total sales	(62.1)			(58.3)			(191.4)	(167.5)
Cost of products sold	(46.8)			(40.7)			(147.9)	(121.5)
Gross profit	(15.3)			(17.6)			(43.5)	(46.0)
Selling, distribution, and administrative expenses	(15.3)			(17.6)			(43.5)	(46.0)
Intercompany charges	0.0			0.0			0.0	0.0
Special charge	0.0			0.0			0.0	0.0
Operating profit	0.0			0.0			0.0	0.0
Interest expense, net	0.0			0.0			0.0	0.0
Equity earnings in subsidiaries	107.2			78.1			285.6	267.2
Miscellaneous expense (income), net	0.0			0.0			0.0	0.0
Income before income taxes	(107.2)			(78.1)			(285.6)	(267.2)
Income tax (benefit) expense	0.0			0.0			0.0	0.0
Net income	(107.2)			(78.1)			(285.6)	(267.2)
Other comprehensive income (loss) items:
Foreign currency translation adjustments	8.7			7.6			12.6	15.6
Defined benefit plans, net of tax	(1.3)			(1.9)			(4.2)	(5.3)
Other comprehensive loss, net of tax	7.4			5.7			8.4	10.3
Comprehensive income	(99.8)			(72.4)			(277.2)	(256.9)
Net sales:
Condensed Financial Statements, Captions [Line Items]
Total sales	947.6			944.0			2,734.6	2,618.9
Net sales: \| Parent
Condensed Financial Statements, Captions [Line Items]
Total sales	0.0			0.0			0.0	0.0
Net sales: \| Subsidiary Issuer
Condensed Financial Statements, Captions [Line Items]
Total sales	843.5			843.7			2,429.0	2,328.3
Net sales: \| Subsidiary Guarantor
Condensed Financial Statements, Captions [Line Items]
Total sales	0.0			0.0			0.0	0.0
Net sales: \| Non- Guarantors
Condensed Financial Statements, Captions [Line Items]
Total sales	104.1			100.3			305.6	290.6
Net sales: \| Consolidating Adjustments
Condensed Financial Statements, Captions [Line Items]
Total sales	0.0			0.0			0.0	0.0
Intercompany sales
Condensed Financial Statements, Captions [Line Items]
Total sales	0.0			0.0			0.0	0.0
Intercompany sales \| Consolidating Adjustments
Condensed Financial Statements, Captions [Line Items]
Total sales	(62.1)			(58.3)			(191.4)	(167.5)
Intercompany sales \| Consolidating Adjustments \| Parent
Condensed Financial Statements, Captions [Line Items]
Total sales	0.0			0.0			0.0	0.0
Intercompany sales \| Consolidating Adjustments \| Subsidiary Issuer
Condensed Financial Statements, Captions [Line Items]
Total sales	0.0			0.0			0.0	0.0
Intercompany sales \| Consolidating Adjustments \| Subsidiary Guarantor
Condensed Financial Statements, Captions [Line Items]
Total sales	13.9			13.7			40.2	38.2
Intercompany sales \| Consolidating Adjustments \| Non- Guarantors
Condensed Financial Statements, Captions [Line Items]
Total sales	$ 48.2			$ 44.6			$ 151.2	$ 129.3

Supplemental Guarantor Condensed Consolidating Financial Statements (Cash Flows) (Details) - USD ($) $ in Millions	9 Months Ended
	May 31, 2019	May 31, 2018
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	$ 312.0	$ 299.7
Cash flows from investing activities:
Purchases of property, plant, and equipment	(39.8)	(32.2)
Investments in subsidiaries		0.0
Acquisitions of business, net of cash acquired	0.0	(163.5)
Other investing activities	2.9	1.0
Net cash used for investing activities	(36.9)	(194.7)
Cash flows from financing activities:
Borrowings on credit facility	86.5	237.3
Repayments of borrowings on credit facility	(86.5)	(236.1)
Repayments of long-term debt	(0.3)	(0.3)
Proceeds from stock option exercises and other	0.5	1.6
Repurchases of common stock	(48.7)	(298.4)
Withholding taxes on net settlement of equity awards	(4.9)	(7.2)
Intercompany Capital		0.0
Dividends paid	(15.6)	(16.2)
Net cash used for financing activities	(69.0)	(319.3)
Effect of exchange rates changes on cash	(1.5)	(2.5)
Net change in cash and cash equivalents	204.6	(216.8)
Cash and cash equivalents at beginning of period	129.1	311.1
Cash and cash equivalents at end of period	333.7	94.3
Parent
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	245.0	252.6
Cash flows from investing activities:
Purchases of property, plant, and equipment	0.0	0.0
Investments in subsidiaries		(163.5)
Acquisitions of business, net of cash acquired		0.0
Other investing activities	0.8	1.0
Net cash used for investing activities	0.8	(162.5)
Cash flows from financing activities:
Borrowings on credit facility	0.0	0.0
Repayments of borrowings on credit facility	0.0	0.0
Repayments of long-term debt	0.0	0.0
Proceeds from stock option exercises and other	0.5	1.6
Repurchases of common stock	(48.7)	(298.4)
Withholding taxes on net settlement of equity awards	(4.9)	(7.2)
Intercompany Capital		0.0
Dividends paid	(15.6)	(16.2)
Net cash used for financing activities	(68.7)	(320.2)
Effect of exchange rates changes on cash	0.2	0.0
Net change in cash and cash equivalents	177.3	(230.1)
Cash and cash equivalents at beginning of period	80.5	237.7
Cash and cash equivalents at end of period	257.8	7.6
Subsidiary Issuer
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	48.4	19.1
Cash flows from investing activities:
Purchases of property, plant, and equipment	(33.0)	(21.9)
Investments in subsidiaries		0.0
Acquisitions of business, net of cash acquired		(136.6)
Other investing activities	2.1	0.0
Net cash used for investing activities	(30.9)	(158.5)
Cash flows from financing activities:
Borrowings on credit facility	86.5	237.3
Repayments of borrowings on credit facility	(86.5)	(236.1)
Repayments of long-term debt	0.0	0.0
Proceeds from stock option exercises and other	0.0	0.0
Repurchases of common stock	0.0	0.0
Withholding taxes on net settlement of equity awards	0.0	0.0
Intercompany Capital		136.6
Dividends paid	0.0	0.0
Net cash used for financing activities	0.0	137.8
Effect of exchange rates changes on cash	(0.3)	1.6
Net change in cash and cash equivalents	17.2	0.0
Cash and cash equivalents at beginning of period	0.0	0.0
Cash and cash equivalents at end of period	17.2	0.0
Subsidiary Guarantor
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	0.0	0.0
Cash flows from investing activities:
Purchases of property, plant, and equipment	0.0	0.0
Investments in subsidiaries		0.0
Acquisitions of business, net of cash acquired		0.0
Other investing activities	0.0	0.0
Net cash used for investing activities	0.0	0.0
Cash flows from financing activities:
Borrowings on credit facility	0.0	0.0
Repayments of borrowings on credit facility	0.0	0.0
Repayments of long-term debt	0.0	0.0
Proceeds from stock option exercises and other	0.0	0.0
Repurchases of common stock	0.0	0.0
Withholding taxes on net settlement of equity awards	0.0	0.0
Intercompany Capital		0.0
Dividends paid	0.0	0.0
Net cash used for financing activities	0.0	0.0
Effect of exchange rates changes on cash	0.0	0.0
Net change in cash and cash equivalents	0.0	0.0
Cash and cash equivalents at beginning of period	0.0	0.0
Cash and cash equivalents at end of period	0.0	0.0
Non- Guarantors
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	18.6	28.0
Cash flows from investing activities:
Purchases of property, plant, and equipment	(6.8)	(10.3)
Investments in subsidiaries		0.0
Acquisitions of business, net of cash acquired		(26.9)
Other investing activities	0.0	0.0
Net cash used for investing activities	(6.8)	(37.2)
Cash flows from financing activities:
Borrowings on credit facility	0.0	0.0
Repayments of borrowings on credit facility	0.0	0.0
Repayments of long-term debt	(0.3)	(0.3)
Proceeds from stock option exercises and other	0.0	0.0
Repurchases of common stock	0.0	0.0
Withholding taxes on net settlement of equity awards	0.0	0.0
Intercompany Capital		26.9
Dividends paid	0.0	0.0
Net cash used for financing activities	(0.3)	26.6
Effect of exchange rates changes on cash	(1.4)	(4.1)
Net change in cash and cash equivalents	10.1	13.3
Cash and cash equivalents at beginning of period	48.6	73.4
Cash and cash equivalents at end of period	58.7	86.7
Consolidating Adjustments
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	0.0	0.0
Cash flows from investing activities:
Purchases of property, plant, and equipment	0.0	0.0
Investments in subsidiaries		163.5
Acquisitions of business, net of cash acquired		0.0
Other investing activities	0.0	0.0
Net cash used for investing activities	0.0	163.5
Cash flows from financing activities:
Borrowings on credit facility	0.0	0.0
Repayments of borrowings on credit facility	0.0	0.0
Repayments of long-term debt	0.0	0.0
Proceeds from stock option exercises and other	0.0	0.0
Repurchases of common stock	0.0	0.0
Withholding taxes on net settlement of equity awards	0.0	0.0
Intercompany Capital		(163.5)
Dividends paid	0.0	0.0
Net cash used for financing activities	0.0	(163.5)
Effect of exchange rates changes on cash	0.0	0.0
Net change in cash and cash equivalents	0.0	0.0
Cash and cash equivalents at beginning of period	0.0	0.0
Cash and cash equivalents at end of period	$ 0.0	$ 0.0