0001144215-23-000090 | 10-K | XBRL Viewer

Supplemental Disaggregated Information

Segment Information

We present our financial results of operations for our two reportable segments, ABL and ISG, consistent with how our chief operating decision maker evaluates operating results, assesses performance, and allocates resources within the Company.

The accounting policies of our reportable segments are the same as those described in the Significant Accounting Policies footnote of the Notes to Consolidated Financial Statements. Corporate expenses that are primarily administrative in function and benefit the Company on an entity-wide basis are not allocated to segments. These include expenses related to governance, policy setting, compliance, and certain other shared services functions. Additionally, net interest expense, net miscellaneous expense (income), and income tax expense are not allocated to segments.

Beginning in fiscal 2023, we allocated special charges to operating segment information presented to the chief operating decision maker on a prospective basis. We allocated $25.0 million of the $26.9 million in special charges incurred during the year ended August 31, 2023 to the ABL segment; the remaining amounts of the fiscal 2023 charge were not allocated to a segment. We recorded no special charges during the year ended August 31, 2022. Special charges during the year ended August 31, 2021 of $3.3 million were not allocated to a segment.

Also beginning in fiscal 2023, we allocated certain working capital assets and capital expenditures to our segments primarily to assess each segment's contribution to our consolidated operating cash flows and capital expenditures. Segment assets include accounts receivable and inventory. Unallocated assets are presented in corporate as a reconciling item to our total consolidated assets. We have restated prior periods to reflect allocated assets and capital expenditures by segment at August 31, 2022 and 2021.

The following table presents financial information by operating segment for the periods presented (in millions):


	Year Ended August 31,
	2023		2022		2021
Net sales:
ABL	$	3,722.8	$	3,810.1	$	3,287.3
ISG	252.7		216.1		190.0
Eliminations(1)	(23.3)		(20.1)		(16.3)
Total	$	3,952.2	$	4,006.1	$	3,461.0
Operating profit (loss):
ABL(2)	$	509.5	$	545.6	$	476.2
ISG	32.1		22.7		9.9
Unallocated corporate amounts	(68.2)		(58.6)		(58.5)
Total	$	473.4	$	509.7	$	427.6
Depreciation and amortization:
ABL	$	77.4	$	79.3	$	84.3
ISG	14.4		14.4		14.7
Unallocated corporate amounts	1.4		1.1		1.1
Total	$	93.2	$	94.8	$	100.1
Segment assets:
ABL	$	870.1	$	1,097.8	$	925.3
ISG	53.7		53.8		45.2
Unallocated corporate amounts	2,484.7		2,328.6		2,604.6
Total	$	3,408.5	$	3,480.2	$	3,575.1
Capital expenditures:
ABL	$	59.3	$	51.7	$	42.9
ISG	3.5		2.6		0.8
Unallocated corporate amounts	3.9		2.2		0.1
Total	$	66.7	$	56.5	$	43.8

____________________________

(1) These amounts represent intersegment sales. Profit on these sales eliminates within gross profit on a consolidated basis.

The following table reconciles operating profit by segment to income before income taxes (in millions):


	Year Ended August 31,
	2023		2022		2021
Operating profit - ABL	$	509.5	$	545.6	$	476.2
Operating profit - ISG	32.1		22.7		9.9
Unallocated corporate amounts	(68.2)		(58.6)		(58.5)
Operating profit	473.4		509.7		427.6
Interest expense, net	18.9		24.9		23.2
Miscellaneous expense (income), net	7.8		(9.1)		8.2
Income before income taxes	$	446.7	$	493.9	$	396.2

During the fourth quarter of fiscal 2023, we recognized charges within our ABL segment of $14.0 million for trade name impairments, $4.1 million for employee severance costs, and $13.0 million for the collectability of a supplier warranty obligation owed to us for components we used in products manufactured and sold between 2017 and 2019.

Supplemental Disaggregated Information

Sales of lighting, lighting controls, and building technology solutions, excluding services, accounted for approximately 99% of total consolidated net sales in fiscal 2023, 2022, and 2021. Our geographic distribution of net sales, operating profit, income before income taxes, and long-lived assets is summarized in the following table during and as of the periods presented (in millions):


	Year Ended August 31,
	2023		2022		2021
Net sales(1):
Domestic(2)	$	3,412.9	$	3,486.4	$	2,982.4
International	539.3		519.7		478.6
Total	$	3,952.2	$	4,006.1	$	3,461.0
Operating profit:
Domestic(2)	$	382.6	$	428.3	$	369.9
International	90.8		81.4		57.7
Total	$	473.4	$	509.7	$	427.6
Income before income taxes:
Domestic(2)	$	367.5	$	409.6	$	343.7
International	79.2		84.3		52.5
Total	$	446.7	$	493.9	$	396.2
Long-lived assets(3):
Domestic(2)	$	323.8	$	325.9	$	284.4
International	107.4		73.5		76.6
Total	$	431.2	$	399.4	$	361.0

_______________________________________

(1)Net sales are attributed to each country based on the selling location.

(2)Domestic amounts include amounts for U.S. based operations.

(3)Long-lived assets include net property, plant, and equipment, operating lease right-of-use assets, and other long-term assets as reflected in the Consolidated Balance Sheets.

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Selling, distribution, and administrative expenses

Share-based Payments - Narrative (Details) - USD ($)	12 Months Ended
Share-based Payments - Narrative (Details) - USD ($)	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021	Jan. 31, 2022	Dec. 31, 2021	Aug. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment expense	$ 42,000,000	$ 37,400,000	$ 32,500,000
Omnibus Stock Compensation Incentive and Directors’ Equity Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance (in shares)				3,600,000	2,700,000
Number of shares available for grant (in shares)	1,000,000	1,100,000	300,000
Share-based payment expense	$ 42,000,000.0	$ 37,400,000	$ 32,500,000
Omnibus Stock Compensation Incentive and Directors’ Equity Plans \| Restricted stock awards and units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding of restricted stock (in shares)	300,000	300,000	400,000			400,000
Unrecognized compensation cost	$ 31,800,000
Unrecognized compensation cost period of recognition (years)	1 year 3 months 18 days
Fair value of shares vested	$ 19,900,000	$ 16,400,000	$ 19,500,000
Awards that vested in the period (in shares)	100,000	100,000	100,000
Share-based payment expense	$ 19,600,000	$ 17,200,000	$ 15,100,000
Omnibus Stock Compensation Incentive and Directors’ Equity Plans \| Restricted stock awards and units \| Grants awarded prior to 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation vesting period (years)	4 years
Omnibus Stock Compensation Incentive and Directors’ Equity Plans \| Restricted stock awards and units \| Grants awarded beginning 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation vesting period (years)	3 years
Omnibus Stock Compensation Incentive and Directors’ Equity Plans \| Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 3,200,000
Unrecognized compensation cost period of recognition (years)	1 year 2 months 12 days
Stock options outstanding (in shares)	1,000,000	1,100,000	1,200,000			900,000
Award expiration term	10 years
Intrinsic value of options exercised	$ 500,000	$ 14,000,000	$ 1,200,000
Total intrinsic value of stock options outstanding	37,900,000
Total intrinsic value of stock options expected to vest	8,300,000
Total intrinsic value of stock options exercisable	29,600,000
Share-based payment expense	$ 5,700,000	$ 8,800,000	$ 9,200,000
Omnibus Stock Compensation Incentive and Directors’ Equity Plans \| Stock options \| Market Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation vesting period (years)	4 years
Stock options outstanding (in shares)	300,000
Omnibus Stock Compensation Incentive and Directors’ Equity Plans \| Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding of restricted stock (in shares)	200,000	200,000	200,000			100,000
Share-based compensation vesting period (years)	3 years
Unrecognized compensation cost	$ 11,700,000
Unrecognized compensation cost period of recognition (years)	1 year 4 months 24 days
Fair value of shares vested	$ 11,500,000
Awards that vested in the period (in shares)	100,000	0	0
Performance stock units outstanding	200,000
Share-based payment expense	$ 15,200,000	$ 9,900,000	$ 6,800,000
Omnibus Stock Compensation Incentive and Directors’ Equity Plans \| Employee Deferred Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares vested (in shares)	4,000
Share-based payment expense	$ 0	$ 0	$ 0
Omnibus Stock Compensation Incentive and Directors’ Equity Plans \| Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares vested (in shares)	45,000
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance (in shares)	1,500,000
Number of shares available for grant (in shares)	1,000,000
Employee discount on purchases of common stock	5.00%

Leases - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Leases - Narrative (Details) - USD ($) $ in Millions	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Leases [Abstract]
Weighted average discount rate (percent)	3.50%	2.50%
Weighted average remaining lease term	6 years
Cash paid for operating lease liabilities	$ 20.1	$ 18.5	$ 26.2
ROU assets obtained in exchange for lease liabilities	29.9	$ 37.3
Operating lease asset group impairment charge	$ 4.3		$ 0.0

Consolidated Statements of Comprehensive Income - USD ($)
shares in Thousands, $ in Millions

12 Months Ended

Aug. 31, 2023

Aug. 31, 2022

Aug. 31, 2021

Income Statement [Abstract]

Net sales

$ 3,952.2

$ 4,006.1

$ 3,461.0

Cost of products sold

2,239.0

2,333.4

1,986.0

Gross profit

1,713.2

1,672.7

1,475.0

1,212.9

1,163.0

1,044.1

Special charges

26.9

0.0

3.3

Operating profit

473.4

509.7

427.6

Other expense:

Interest expense, net

18.9

24.9

23.2

Miscellaneous expense (income), net

7.8

(9.1)

8.2

Total other expense

26.7

15.8

31.4

Income before income taxes

446.7

493.9

396.2

Income tax expense

100.7

109.9

89.9

$ 346.0

$ 384.0

$ 306.3

Basic earnings per share (in dollars per share)

^[1]

$ 10.88

$ 11.23

$ 8.44

Basic weighted average number of shares outstanding (in shares)

31,806

34,182

36,284

Diluted earnings per share (in dollars per share)

^[1]

$ 10.76

$ 11.08

$ 8.38

Diluted weighted average number of shares outstanding (in shares)

32,164

34,645

36,554

Dividends declared per share (in dollars per share)

$ 0.52

Comprehensive income:

Other comprehensive income (loss) items, net of tax:

$ 346.0

$ 384.0

$ 306.3

Foreign currency translation adjustments

8.5

(33.3)

13.3

Defined benefit plans

4.7

5.7

21.2

Other comprehensive income (loss) items, net of tax

13.2

(27.6)

34.5

Comprehensive income

$ 359.2

$ 356.4

$ 340.8

[1]	(1) Earnings per share is calculated using unrounded numbers. Amounts in the table may not recalculate exactly due to rounding.

Significant Accounting Policies - Property, Plant and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 51.1	$ 53.8	$ 59.4
Total property, plant, and equipment, at cost	961.8	891.9
Less: Accumulated depreciation and amortization	(664.2)	(615.4)
Property, plant, and equipment, net	297.6	276.5
Land
Property, Plant and Equipment [Line Items]
Total property, plant, and equipment, at cost	23.0	22.0
Buildings and leasehold improvements
Property, Plant and Equipment [Line Items]
Total property, plant, and equipment, at cost	210.9	202.3
Machinery and equipment
Property, Plant and Equipment [Line Items]
Total property, plant, and equipment, at cost	$ 727.9	$ 667.6
Minimum \| Buildings and leasehold improvements
Property, Plant and Equipment [Line Items]
Useful lives of plant and equipment, minimum	3 years
Minimum \| Machinery and equipment
Property, Plant and Equipment [Line Items]
Useful lives of plant and equipment, minimum	2 years
Maximum \| Buildings and leasehold improvements
Property, Plant and Equipment [Line Items]
Useful lives of plant and equipment, minimum	40 years
Maximum \| Machinery and equipment
Property, Plant and Equipment [Line Items]
Useful lives of plant and equipment, minimum	15 years

Common Stock and Related Matters (Tables)

12 Months Ended

Aug. 31, 2023

Equity [Abstract]

Schedule of Changes in Common Stock

Changes in common stock during the periods presented were as follows (amounts and shares in millions):


	Common Stock
	Shares		Amount
			(At par)
Balance at August 31, 2020	53.9		$	0.5
Vesting of share-based payment awards	0.1		—
Stock options exercised	—	*	—
Balance at August 31, 2021	54.0		0.5
Vesting of share-based payment awards	0.1		—
Stock options exercised	0.1		—
Balance at August 31, 2022	54.2		0.5
Vesting of share-based payment awards	0.2		—
Stock options exercised	—	*	—
Balance at August 31, 2023	54.4		$	0.5

___________________________

* Represents shares of less than 0.1 million.

Schedule of Earnings Per Share, Basic and Diluted

The following table calculates basic earnings per common share and diluted earnings per common share during the periods presented (in millions, except per share data):


	Year Ended August 31,
	2023		2022		2021
Net income	$	346.0	$	384.0	$	306.3
Basic weighted average shares outstanding	31.806		34.182		36.284
Common stock equivalents	0.358		0.463		0.270
Diluted weighted average shares outstanding	32.164		34.645		36.554
Basic earnings per share(1)	$	10.88	$	11.23	$	8.44
Diluted earnings per share(1)	$	10.76	$	11.08	$	8.38

____________________

(1) Earnings per share is calculated using unrounded numbers. Amounts in the table may not recalculate exactly due to rounding.

Schedule of Securities Excluded from Computation of Earnings Per Share

The following table presents stock options, restricted stock awards, and performance stock units that were excluded from the diluted earnings per share calculation for the periods presented as the effect of inclusion would have been antidilutive (in millions):


	Year Ended August 31,
	2023		2022	2021
Stock options	0.1		0.1	0.8
Restricted stock awards	0.1		0.1	—	*
Performance stock units	—	*	—	—

_______________________

* Represents shares of less than 0.1 million.

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Cash flows from operating activities:
Net income	$ 346.0	$ 384.0	$ 306.3
Adjustments to reconcile net income to cash flows from operating activities:
Depreciation and amortization	93.2	94.8	100.1
Share-based payment expense	42.0	37.4	32.5
Gain on the sale or disposal of property, plant, and equipment	0.0	(2.3)	(0.1)
Asset impairments	20.8	1.7	6.0
Loss on sale of a business	11.2	0.0	0.0
Deferred income taxes	(47.8)	0.6	(2.7)
Changes in operating assets and liabilities, net of acquisitions
Accounts receivable	114.6	(99.7)	(68.7)
Inventories	115.2	(83.3)	(35.5)
Prepayments and other current assets	21.4	(17.6)	(18.2)
Accounts payable	(110.5)	2.6	65.5
Other	(28.0)	(1.9)	23.5
Net cash provided by operating activities	578.1	316.3	408.7
Cash flows from investing activities:
Purchases of property, plant, and equipment	(66.7)	(56.5)	(43.8)
Proceeds from sale of property, plant, and equipment	0.0	8.9	4.7
Acquisitions of businesses, net of cash acquired	(35.5)	(12.9)	(75.3)
Other investing activities	11.5	(1.7)	(3.5)
Net cash used for investing activities	(90.7)	(62.2)	(117.9)
Cash flows from financing activities:
Borrowings on credit facility, net of repayments	(18.0)	18.0	0.0
Issuances of long-term debt	0.0	0.0	493.8
Repayments of long-term debt	0.0	0.0	(401.1)
Repurchases of common stock	(266.6)	(514.8)	(434.9)
Proceeds from stock option exercises and other	2.7	12.5	3.2
Payments of taxes withheld on net settlement of equity awards	(14.2)	(8.6)	(4.5)
Dividends paid	(16.8)	(18.1)	(19.1)
Other financing activities	0.0	(1.4)	0.0
Net cash used for financing activities	(312.9)	(512.4)	(362.6)
Effect of exchange rate changes on cash and cash equivalents	0.2	(9.8)	2.4
Net change in cash and cash equivalents	174.7	(268.1)	(69.4)
Cash and cash equivalents at beginning of year	223.2	491.3	560.7
Cash and cash equivalents at end of year	397.9	223.2	491.3
Supplemental cash flow information:
Income taxes paid	147.2	109.4	86.4
Interest paid	$ 27.9	$ 26.1	$ 22.2

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Aug. 31, 2023	Aug. 31, 2022
Current assets:
Reserve for doubtful accounts	$ 1.3	$ 1.2
Stockholders’ equity:
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	54,411,186	54,241,069
Treasury stock (in shares)	23,362,196	21,753,820

Consolidated Statements of Stockholders' Equity - USD ($)
shares in Millions, $ in Millions

Total

Cumulative-effect adjustment

Common Stock Outstanding

Paid-in Capital

Retained Earnings

Cumulative-effect adjustment

Accumulated Other Comprehensive Loss Items

Treasury Stock, at cost

Beginning balance (in shares) at Aug. 31, 2020

^[1]

38.9

Beginning balance at Aug. 31, 2020

$ 2,127.5

$ (0.2)

$ 0.5

$ 963.6

$ 2,523.3

$ (0.2)

$ (132.7)

$ (1,227.2)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Other comprehensive income (loss), net of tax

306.3

34.5

Share-based payment amortization, issuances, and cancellations (in shares)

^[1]

0.1

Share-based payment amortization, issuances, and cancellations

28.8

Employee stock purchase plan issuances

1.0

Cash dividends paid on common stock

(19.1)

Stock options exercised

2.2

Repurchases of common stock (in shares)

^[1]

(3.8)

Repurchases of common stock

(436.5)

Ending balance (in shares) at Aug. 31, 2021

^[1]

35.2

Ending balance at Aug. 31, 2021

2,044.5

$ 0.5

995.6

2,810.3

(98.2)

(1,663.7)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Other comprehensive income (loss), net of tax

384.0

(27.6)

Share-based payment amortization, issuances, and cancellations (in shares)

^[1]

0.1

Share-based payment amortization, issuances, and cancellations

28.2

Employee stock purchase plan issuances

1.8

Cash dividends paid on common stock

(18.1)

Stock options exercised (in shares)

^[1]

0.1

Stock options exercised

10.7

Repurchases of common stock (in shares)

^[1]

(2.9)

Repurchases of common stock

(511.7)

Ending balance (in shares) at Aug. 31, 2022

^[1]

32.5

Ending balance at Aug. 31, 2022

1,911.8

$ 0.5

1,036.3

3,176.2

(125.8)

(2,175.4)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Other comprehensive income (loss), net of tax

346.0

13.2

Share-based payment amortization, issuances, and cancellations (in shares)

^[1]

0.2

Share-based payment amortization, issuances, and cancellations

27.8

Employee stock purchase plan issuances

1.5

Cash dividends paid on common stock

(16.8)

Stock options exercised (in shares)

^[1]

0.0

Stock options exercised

1.2

Repurchases of common stock (in shares)

^[1]

(1.6)

Repurchases of common stock

(269.3)

Ending balance (in shares) at Aug. 31, 2023

^[1]

31.1

Ending balance at Aug. 31, 2023

$ 2,015.4

$ 0.5

$ 1,066.8

$ 3,505.4

$ (112.6)

$ (2,444.7)

[1]	Share activity and balances above calculated using rounded numbers.

Segment Reporting - Income Before Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Geographic Distribution
Operating profit:		$ 473.4	$ 509.7	$ 427.6
Interest expense, net		18.9	24.9	23.2
Miscellaneous expense (income), net		7.8	(9.1)	8.2
Income before income taxes		446.7	493.9	396.2
Trade name impairment charges		14.0		0.0
Employee severance costs		7.7		1.7
ABL
Geographic Distribution
Employee severance costs	$ 4.1
Charge for collectability of a supplier warranty obligation	13.0
ABL \| Trade Names
Geographic Distribution
Trade name impairment charges	$ 14.0
Operating Segments \| ABL
Geographic Distribution
Operating profit:		509.5	545.6	476.2
Operating Segments \| ISG
Geographic Distribution
Operating profit:		32.1	22.7	9.9
Unallocated corporate amounts
Geographic Distribution
Operating profit:		$ (68.2)	$ (58.6)	$ (58.5)

Pension and Defined Contribution Plans - Domestic and International Pension Plans (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Amounts recognized in the consolidated balance sheets consist of:
Non-current assets	$ 12.4	$ 8.0	$ 12.4	$ 8.0
Non-current liabilities	$ (38.4)	$ (41.4)	$ (38.4)	$ (41.4)
Pensions plans in which plan assets exceed benefit obligation:
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Cost of Goods and Services Sold, Selling, General and Administrative Expense	Cost of Goods and Services Sold, Selling, General and Administrative Expense	Cost of Goods and Services Sold, Selling, General and Administrative Expense	Cost of Goods and Services Sold, Selling, General and Administrative Expense
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Settlement Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)
Pension Plan \| Domestic Plans
Change in benefit obligation:
Benefit obligation at beginning of year			$ 176.0	$ 224.7
Service cost			3.8	4.4	$ 4.6
Interest cost			7.4	5.3	5.3
Actuarial gains			(16.2)	(43.1)
Benefits paid			(11.2)	(15.3)
Other			0.0	0.0
Benefit obligation at end of year	$ 159.8	$ 176.0	159.8	176.0	224.7
Change in plan assets:
Fair value of plan assets at beginning of year			141.5	182.6
Actual return on plan assets			(1.3)	(33.6)
Employer contributions			3.7	7.8
Benefits paid			(11.2)	(15.3)
Other			0.0	0.0
Fair value of plan assets at end of year	132.7	141.5	132.7	141.5	182.6
Funded status at end of year:
Funded status at the end of year	(27.1)	(34.5)	(27.1)	(34.5)
Amounts recognized in the consolidated balance sheets consist of:
Non-current assets	10.1	7.6	10.1	7.6
Current liabilities	(3.4)	(3.9)	(3.4)	(3.9)
Non-current liabilities	(33.8)	(38.2)	(33.8)	(38.2)
Net amount recognized in consolidated balance sheets	(27.1)	(34.5)	(27.1)	(34.5)
Accumulated benefit obligation	158.9	175.3	158.9	175.3
Pre-tax amounts in accumulated other comprehensive loss:
Prior service cost	(0.1)	(2.7)	(0.1)	(2.7)
Net actuarial loss	(44.3)	(54.2)	(44.3)	(54.2)
Amounts in accumulated other comprehensive loss	(44.4)	(56.9)	(44.4)	(56.9)
Pension Plan \| Domestic Plans \| Pensions plans in which benefit obligation exceeds plan assets:
Pensions plans in which benefit obligation exceeds plan assets:
Projected benefit obligation	37.2	42.1	37.2	42.1
Accumulated benefit obligation	36.3	41.4	36.3	41.4
Plan assets	0.0	0.0	0.0	0.0
Pension Plan \| Domestic Plans \| Pensions plans in which plan assets exceed benefit obligation:
Pensions plans in which plan assets exceed benefit obligation:
Projected benefit obligation	122.6	133.9	122.6	133.9
Accumulated benefit obligation	122.6	133.9	122.6	133.9
Plan assets	132.7	141.5	132.7	141.5
Pension Plan \| International Plans
Change in benefit obligation:
Benefit obligation at beginning of year			31.5	52.6
Service cost			0.8	0.4	0.3
Interest cost			1.6	0.9	0.9
Actuarial gains			(1.2)	(17.1)
Benefits paid			(1.9)	(2.1)
Other			3.8	(3.2)
Benefit obligation at end of year	34.6	31.5	34.6	31.5	52.6
Change in plan assets:
Fair value of plan assets at beginning of year			28.5	42.2
Actual return on plan assets			(5.2)	(11.6)
Employer contributions			7.9	3.0
Benefits paid			(1.9)	(2.1)
Other			2.8	(3.0)
Fair value of plan assets at end of year	32.1	28.5	32.1	28.5	$ 42.2
Funded status at end of year:
Funded status at the end of year	(2.5)	(3.0)	(2.5)	(3.0)
Amounts recognized in the consolidated balance sheets consist of:
Non-current assets	2.3	0.4	2.3	0.4
Current liabilities	(0.2)	(0.2)	(0.2)	(0.2)
Non-current liabilities	(4.6)	(3.2)	(4.6)	(3.2)
Net amount recognized in consolidated balance sheets	(2.5)	(3.0)	(2.5)	(3.0)
Accumulated benefit obligation	31.9	31.3	31.9	31.3
Pre-tax amounts in accumulated other comprehensive loss:
Prior service cost	(0.1)	(0.1)	(0.1)	(0.1)
Net actuarial loss	(13.4)	(6.5)	(13.4)	(6.5)
Amounts in accumulated other comprehensive loss	(13.5)	(6.6)	(13.5)	(6.6)
Pension Plan \| International Plans \| Pensions plans in which benefit obligation exceeds plan assets:
Pensions plans in which benefit obligation exceeds plan assets:
Projected benefit obligation	5.6	3.4	5.6	3.4
Accumulated benefit obligation	3.5	2.3	3.5	2.3
Plan assets	0.8	0.0	0.8	0.0
Pension Plan \| International Plans \| Pensions plans in which plan assets exceed benefit obligation:
Pensions plans in which plan assets exceed benefit obligation:
Projected benefit obligation	29.0	28.1	29.0	28.1
Accumulated benefit obligation	28.4	29.0	28.4	29.0
Plan assets	$ 31.3	$ 28.5	$ 31.3	$ 28.5

Debt and Lines of Credit - Long-term Debt (Details) - Unsecured Term Loan - 2.150% Senior Unsecured Notes Due December 2030 - Acuity Brands Lighting, Inc. - USD ($) $ in Millions		12 Months Ended
	Nov. 10, 2020	Aug. 31, 2023
Debt Instrument [Line Items]
Scheduled future principal payment		$ 500.0
Debt instrument, face amount	$ 500.0
Interest rate (percent)	2.15%
Debt instrument issuance price percent of total	99.737%
Debt issuance costs, gross	$ 4.8
Term of facility	10 years

Commitments and Contingencies

12 Months Ended

Aug. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Self-Insurance

Our policy is to self-insure up to certain limits traditional risks, including workers’ compensation, comprehensive general liability, and auto liability. Our self-insured retention for each claim involving workers’ compensation, comprehensive general liability (including product liability claims), and auto liability is limited per occurrence of such claims. A provision for claims under this self-insured program, based on our estimate of the aggregate liability for claims incurred, is revised and recorded annually. The estimate is derived from both internal and external sources including, but not limited to, our independent actuary. We are also self-insured up to certain limits for certain other insurable risks, primarily physical loss to property and business interruptions resulting from such loss lasting two days or more in duration. Insurance coverage is maintained for catastrophic property and casualty exposures, as

well as those risks required to be insured by law or contract. We are fully self-insured for certain other types of liabilities, including environmental, product recall, warranty, and patent infringement. The actuarial estimates are subject to uncertainty from various sources including, among others, changes in claim reporting patterns, claim settlement patterns, actual claims, judicial decisions, legislation, and economic conditions. Although we believe that the actuarial estimates are reasonable, significant differences related to the items noted above could materially affect our self-insurance obligations, future expense, and cash flows.

We are also self-insured for the majority of our medical benefit plans up to certain limits. We estimate our aggregate liability for claims incurred by applying a lag factor to our historical claims and administrative cost experience. The appropriateness of our lag factor is evaluated annually and revised as necessary.

Leases

We lease certain of our buildings and equipment under noncancellable lease agreements. Please refer to the Leases footnote of the Notes to Consolidated Financial Statements for additional information.

Collective Bargaining Agreements

Approximately 65% of our total work force is covered by collective bargaining agreements. Collective bargaining agreements representing approximately 57% of our work force will expire within one year, primarily due to annual negotiations of union contracts in Mexico.

Data Security Incidents

On December 14, 2022, a former associate filed a putative class action complaint against the Company in the United States District Court for the Northern District of Georgia on behalf of all persons whose personal information was compromised as a result of data security incidents we experienced in October 2020 and/or December 2021. On January 25, 2023, a second putative class action complaint was filed in the same venue by two other former associates.

Both complaints contain similar allegations and claim that the Company failed to exercise reasonable caution in securing and safeguarding associate information. On that basis, the complaints assert claims for negligence, breach of contract, breach of implied contract, unjust enrichment, breach of fiduciary duty, invasion of privacy, and breach of confidence. The plaintiffs seek class certification, monetary damages, certain injunctive relief regarding our data-security measures, additional credit-monitoring services, other equitable relief (including disgorgement), attorneys’ fees, costs, and pre- and post-judgment interest.

The plaintiffs in both cases recently filed a notice of voluntary dismissal without prejudice of the suits in the Northern District of Georgia and refiled in state court. We continue to prepare our response strategy.

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 early stages of the proceedings where key evidential and legal issues have not been resolved. In addition, we have received inquiries from, and it is also possible that investigations or other actions are taken by, state and/or federal agencies regarding the data security incidents and related data privacy matters. 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 have insurance, subject to certain terms and conditions, for these types of matters.

Litigation

We are subject to various other legal claims arising in the normal course of business, including patent infringement, employment matters, and product liability claims. Based on information currently available, it is the opinion of management that the ultimate resolution of pending and threatened legal proceedings will not have a material adverse effect on our financial condition, results of operations, or cash flows. However, in the event of unexpected future developments, it is possible that the ultimate resolution of any such matters, if unfavorable, could have a material adverse effect on our financial condition, results of operations, or cash flows in future periods. We establish estimated liabilities for legal claims when associated costs become probable and can be reasonably estimated. The actual costs of resolving legal claims may be substantially higher than the amounts accrued for such claims.

However, we cannot make a meaningful estimate of actual costs to be incurred that could possibly be higher or lower than the accrued amounts.

Environmental Matters

Our operations are subject to numerous comprehensive laws and regulations relating to the generation, storage, handling, transportation, and disposal of hazardous substances, as well as solid and hazardous wastes, and to the remediation of contaminated sites. In addition, permits and environmental controls are required for certain operations to limit air and water pollution, and these permits are subject to modification, renewal, and revocation by issuing authorities. On an ongoing basis, we invest capital and incur operating costs relating to environmental compliance. Environmental laws and regulations have generally become stricter in recent years. We are not aware of any pending legislation or proposed regulation related to environmental issues that would have a material adverse effect. The cost of responding to future changes may be substantial. We establish accruals for known environmental claims when the associated costs become probable and can be reasonably estimated. The actual cost of environmental issues may be substantially higher than that accrued due to difficulty in estimating such costs.

Guarantees and Indemnities

We are a party to contracts entered into in the normal course of business in which it is common for us to agree to indemnify third parties for certain liabilities that may arise out of or relate to the subject matter of the contract. In most cases, we cannot estimate the potential amount of future payments under these indemnities until events arise that would result in a liability under the indemnities.

Product Warranty and Recall Costs

Our products generally have a standard warranty term of five years that assure our products comply with agreed upon specifications. We record an accrual for the estimated amount of future warranty costs in accordance with ASC Topic 450, Contingencies (“ASC 450”) when the related revenue is recognized. Estimated future warranty and recall costs are primarily based on historical experience of identified warranty and recall claims. Estimated costs related to product warranty and recall costs outside of our historical experience, which could include significant product recalls or formal campaigns soliciting repair or return of a product, are accrued when they are deemed to be probable and can be reasonably estimated. Any estimated or actual loss recoveries that offset our costs and payments are reflected as assets and included within Other current assets or Other long-term assets based on the timing of receipt of recovery. Recoveries are recorded net of allowances for credit losses.

There can be no assurance that future warranty or recall costs will not exceed historical amounts, new technology products may not generate unexpected costs, and/or loss recoveries will not be fully collectible. If actual future warranty or recall costs exceed historical amounts or recoveries are no longer collectible, adjustments to our accruals and/or receivables may be warranted, which could have a material adverse impact on our results of operations and cash flows.

Estimated liabilities for product warranty and recall costs are included in Other accrued liabilities or Other long-term liabilities on the Consolidated Balance Sheets based upon when we expect to settle the incurred warranty. The following table summarizes changes in the estimated liabilities for product warranty and recall costs during the periods presented (in millions):


	Year Ended August 31,
	2023		2022		2021
Beginning balance	$	27.3	$	20.3	$	16.1
Warranty and recall costs(1)	47.0		52.4		32.3
Payments and other deductions(1)	(42.7)		(45.4)		(28.4)
Acquired warranty and recall liabilities	—		—		0.3
Ending balance	$	31.6	$	27.3	$	20.3

____________________________

(1) Amounts exclude any estimated or actual loss recoveries.

Significant Accounting Policies - Selling, Distribution and Administrative Expenses (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Accounting Policies [Abstract]
Other shipping and handling costs	$ 141.7	$ 151.2	$ 132.0
Share-based payment expense	42.0	37.4	32.5
Income tax benefit for share-based compensation	7.2	9.6	6.5
Net excess tax (benefit) expense related to share-based payment cost	1.5	4.8	0.5
Research and development expense	97.1	95.1	88.3
Advertising costs	$ 21.9	$ 19.3	$ 15.9

Acquisitions and Divestitures	12 Months Ended
Acquisitions and Divestitures	Aug. 31, 2023
Business Combinations And Divestitures [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures Acquisitions The following discussion relates to fiscal 2023 and 2021 acquisitions. There were no acquisitions during fiscal 2022. The $12.9 million of cash outflows reflected in the fiscal 2022 Consolidated Statements of Cash Flows relate to fiscal 2021 acquisitions primarily for working capital settlements. Fiscal 2023 Acquisitions On May 15, 2023, using cash on hand, we acquired all of the equity interests of KE2 Therm Solutions, Inc. (“KE2 Therm”). KE2 Therm develops and provides intelligent refrigeration control solutions that deliver the precision of digital controls to promote safety, efficiency, and reliability, while delivering cost savings to the customer. This acquisition is intended to expand ISG's technology and controls product portfolio and reach new customers. We accounted for the acquisition of KE2 Therm in accordance with Accounting Standards Codification (“ASC”) Topic 805, Business Combinations (“ASC 805”). Acquired assets and liabilities were recorded at their estimated acquisition-date fair values. Acquisition-related costs were expensed as incurred and were not material to our financial statements. The aggregate purchase price of these acquisitions reflects preliminary goodwill within the ISG segment of $15.0 million at August 31, 2023, which is not expected to be deductible for tax purposes. The goodwill is primarily comprised of expected benefits related to expanding ISG's technology and controls product portfolio as well as the trained workforce acquired with these businesses and expected synergies from combining the operations of KE2 Therm with our operations. We additionally recorded preliminary gross intangible assets of $18.0 million as of August 31, 2023, which reflect estimates for definite-lived intangibles with a preliminary estimated weighted average useful life of approximately 15 years. Amounts recorded for acquired assets and liabilities are deemed to be provisional until disclosed otherwise as we continue to gather information related to the identification and valuation of acquired assets and liabilities including, but not limited to, intangible assets and tax-related items. The operating results of KE2 Therm have been included in our financial statements since the date of acquisition and are not material to our financial condition, results of operations, or cash flows. Fiscal 2021 Acquisitions ams OSRAM's North American Digital Systems Business On July 1, 2021, using cash on hand, we acquired certain assets and liabilities of ams OSRAM’s North American Digital Systems business (“OSRAM DS”). This acquisition is intended to enhance our LED driver and controls technology portfolio and accelerate our innovation, expand our access to market through a more fulsome OEM product offering, and give us more control over our supply chain. Rockpile Ventures, Inc. On May 18, 2021, using cash on hand, we acquired all of the equity interests of Rockpile Ventures, Inc., (“Rockpile Ventures”) an accelerator of edge artificial intelligence (“AI”) startups. Rockpile Ventures helps early-stage artificial intelligence companies drive co-engineering and co-selling partnerships with major cloud ecosystems, enabling faster adoption from proof-of-concept trials to market scale. Accounting for Fiscal 2021 Acquisitions We accounted for the acquisitions of Rockpile Ventures and OSRAM DS (collectively the “2021 Acquisitions”) in accordance with ASC 805. We finalized the acquisition accounting for the 2021 Acquisitions during fiscal 2022. There were no material changes to our financial statements as a result of the finalization of the acquisition accounting for these acquisitions. The aggregate purchase price of the 2021 Acquisitions reflects goodwill of $12.3 million and definite-lived customer-based intangible assets of $6.7 million, which have a useful life of approximately 11 years. Goodwill recognized from the 2021 Acquisitions is comprised primarily of expected synergies from obtaining more control over our supply chain and technology, combining the operations of the acquired business with our operations, and acquiring the associated trained workforce. Goodwill from the 2021 Acquisitions totaling $9.2 million is tax deductible. Divestitures We sold our Sunoptics prismatic skylights business in November 2022. We transferred assets with a total carrying value of $15.1 million, which primarily consisted of intangibles with definite lives, inventories, and allocated goodwill from the ABL segment. We recognized a pre-tax loss on the sale of $11.2 million within Miscellaneous expense (income), net on the Consolidated Statements of Comprehensive Income. Additionally, we recorded impairment charges for certain retained assets as well as associate severance and other costs related to the sale. These items are included within Special charges on the Consolidated Statements of Comprehensive Income. See the Special Charges and Fair Value Measurements footnotes of the Notes to Consolidated Financial Statements for further details. There were no divestitures during fiscal 2022 or 2021.

Commitments and Contingencies (Tables)

12 Months Ended

Aug. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Schedule of Changes in Product Warranty and Recall Costs


	Year Ended August 31,
	2023		2022		2021
Beginning balance	$	27.3	$	20.3	$	16.1
Warranty and recall costs(1)	47.0		52.4		32.3
Payments and other deductions(1)	(42.7)		(45.4)		(28.4)
Acquired warranty and recall liabilities	—		—		0.3
Ending balance	$	31.6	$	27.3	$	20.3

____________________________

(1) Amounts exclude any estimated or actual loss recoveries.

Share-based Payments - Performance Stock Units (Details) - Performance stock units - $ / shares shares in Millions	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Weighted Average Grant Date Fair Value Per Share
Forfeited, Weighted Average Grant Date Fair Value Per Share (in dollars per share)	$ 195.67	$ 113.51	$ 104.34
Stock Incentive Plan
Number of Shares
Beginning of period, Outstanding (in shares)	0.2	0.2	0.1
Granted (in shares)	0.1	0.1	0.1
Vested (in shares)	(0.1)	0.0	0.0
Forfeited (in shares)	(0.1)	(0.1)	(0.1)
End of period, Outstanding (in shares)	0.2	0.2	0.2
Weighted Average Grant Date Fair Value Per Share
Beginning of period, Outstanding, Weighted Average Grant date Fair Value Per Share (in dollars per share)	$ 145.46	$ 109.99	$ 124.29
Granted, Weighted Average Grant Date Fair Value Per Share (in dollars per share)	186.78	207.02	91.34
Vested, Weighted Average Grant Date Fair Value Per Share (in dollars per share)	124.29
End of period, Outstanding, Weighted Average Grant Date Fair Value Per Share (in dollars per share)	$ 171.01	$ 145.46	$ 109.99

Income Taxes - Narrative (Details) - USD ($)	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021	Aug. 31, 2020
Income Tax Contingency [Line Items]
Undistributed earnings and original investments in foreign subsidiaries	$ 255,800,000
Deferred income tax liability for certain foreign withholding taxes and U.S. state taxes	700,000
Unrecognized tax benefits	20,100,000	$ 19,500,000	$ 17,700,000	$ 17,200,000
Unrecognized tax benefits that if recognized would affect annual effective tax rate	20,100,000	18,800,000
Total accrued interest	3,300,000	$ 2,100,000	$ 2,000,000
Accruals related to income tax penalties	0
Internal Revenue Service (IRS)
Income Tax Contingency [Line Items]
Federal tax credit carryforwards, subject to expiration	8,300,000
Tax credit carryforward subject to a full valuation allowance	7,600,000
Operating loss carryforwards	14,400,000
State and Local Jurisdiction
Income Tax Contingency [Line Items]
Federal tax credit carryforwards, subject to expiration	900,000
Operating loss carryforwards	47,100,000
Foreign Tax Authority
Income Tax Contingency [Line Items]
Operating loss carryforwards	$ 7,800,000

Share-based Payments - Share-based Compensation Expense Recognized (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment expense	$ 42.0	$ 37.4	$ 32.5
Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment expense	42.0	37.4	32.5
Restricted stock awards and units \| Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment expense	19.6	17.2	15.1
Performance stock units \| Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment expense	15.2	9.9	6.8
Stock options \| Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment expense	5.7	8.8	9.2
Director stock units \| Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment expense	$ 1.5	$ 1.5	$ 1.4

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(01)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(02)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(01)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(02)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Current Fiscal Year End Date

Significant Accounting Policies - Goodwill and Other Intangibles (Details)	12 Months Ended
	Aug. 31, 2023 USD ($) intangible_asset	Aug. 31, 2022 USD ($)	Aug. 31, 2021 USD ($)	Jun. 01, 2023 USD ($) intangible_asset
Goodwill [Roll Forward]
Beginning balance	$ 1,084,300,000	$ 1,094,700,000
Additions from acquired businesses	15,200,000
Adjustments to provisional amounts from acquired businesses	(200,000)	2,300,000
Derecognitions for divestitures	(700,000)
Foreign currency translation adjustments	(700,000)	(12,700,000)
Ending balance	1,097,900,000	1,084,300,000	$ 1,094,700,000
Gross Carrying Amount	691,100,000	677,500,000
Accumulated Amortization	(345,500,000)	(322,000,000.0)
Indefinite-lived trade names				$ 173,400,000
Amortization expense of finite-lived intangible assets	42,100,000	41,000,000	40,700,000
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Amortization expense in fiscal 2024	39,600,000
Amortization expense in fiscal 2025	32,200,000
Amortization expense in fiscal 2026	29,500,000
Amortization expense in fiscal 2027	28,000,000
Amortization expense in fiscal 2028	23,900,000
Goodwill impairment charge	0	0	0
Indefinite-lived intangible assets held \| intangible_asset				13
Indefinite-lived intangible assets				$ 173,400,000
Trade Names
Goodwill [Roll Forward]
Indefinite-lived trade names	135,600,000	173,700,000
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Indefinite-lived intangible assets	135,600,000	173,700,000
Intangible asset impairment charge	$ 14,000,000
Number of impaired intangible assets \| intangible_asset	6
Number of unimpaired intangible assets \| intangible_asset	7
Patents and patented technology
Goodwill [Roll Forward]
Gross Carrying Amount	$ 158,800,000	160,800,000
Accumulated Amortization	(122,300,000)	(116,000,000.0)
Trademarks and trade names
Goodwill [Roll Forward]
Gross Carrying Amount	45,500,000	27,200,000
Accumulated Amortization	(18,400,000)	(18,300,000)
Distribution network
Goodwill [Roll Forward]
Gross Carrying Amount	61,800,000	61,800,000
Accumulated Amortization	(49,400,000)	(47,300,000)
Customer relationships
Goodwill [Roll Forward]
Gross Carrying Amount	425,000,000.0	427,700,000
Accumulated Amortization	(155,400,000)	(140,400,000)
ABL
Goodwill [Roll Forward]
Beginning balance	1,014,200,000	1,022,200,000
Additions from acquired businesses	0
Adjustments to provisional amounts from acquired businesses	0	2,300,000
Derecognitions for divestitures	(700,000)
Foreign currency translation adjustments	900,000	(10,300,000)
Ending balance	1,014,400,000	1,014,200,000	1,022,200,000
ISG
Goodwill [Roll Forward]
Beginning balance	70,100,000	72,500,000
Additions from acquired businesses	15,200,000
Adjustments to provisional amounts from acquired businesses	(200,000)	0
Derecognitions for divestitures	0
Foreign currency translation adjustments	(1,600,000)	(2,400,000)
Ending balance	$ 83,500,000	$ 70,100,000	$ 72,500,000

Cover - USD ($)
$ in Billions

12 Months Ended

Aug. 31, 2023

Oct. 20, 2023

Feb. 28, 2023

Cover [Abstract]

Document Type

10-K

Document Annual Report

true

Document Period End Date

Aug. 31, 2023

--08-31

Document Transition Report

false

Entity Registrant Name

ACUITY BRANDS, INC

Entity Incorporation, State or Country Code

Entity File Number

001-16583

Entity Tax Identification Number

58-2632672

Entity Address, Address Line One

1170 Peachtree Street, N.E.

Entity Address, Address Line Two

Suite 1200

Entity Address, City or Town

Atlanta

Entity Address, State or Province

Entity Address, Postal Zip Code

30309

City Area Code

404

Local Phone Number

853-1400

Title of 12(b) Security

Common stock, $0.01 par value per share

Trading Symbol

AYI

Security Exchange Name

NYSE

Entity Well-known Seasoned Issuer

Yes

Entity Voluntary Filers

Entity Current Reporting Status

Yes

Entity Interactive Data Current

Yes

Entity Filer Category

Large Accelerated Filer

Entity Small Business

false

Entity Emerging Growth Company

false

ICFR Auditor Attestation Flag

true

Document Financial Statement Error Correction [Flag]

false

Entity Shell Company

false

Entity Public Float

$ 4.1

Entity Common Stock, Shares Outstanding

30,947,789

Documents Incorporated by Reference

DOCUMENTS INCORPORATED BY REFERENCE


Location in Form 10-K						Incorporated Document
Part II, Item 5; Part III, Items 10, 11, 12, 13, and 14						Proxy Statement for 2023 Annual Meeting of Stockholders

Entity Central Index Key

0001144215

Amendment Flag

false

Document Fiscal Year Focus

2023

Document Fiscal Period Focus

Revenue Recognition - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Refunds to customers	$ 25.6	$ 28.0
Right of return assets	4.9	3.7
Customer incentive programs	$ 31.6	$ 40.7
Minimum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Non-current deferred revenues, recognition period	5 years
Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Non-current deferred revenues, recognition period	10 years

Share-based Payments - Estimate Fair Value of Performance Stock Units (Details) - Performance stock units - Stock Incentive Plan	12 Months Ended
	Aug. 31, 2023 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0.00%
Expected volatility	46.70%
Risk-free interest rate	4.50%
Fair value of awards (in dollars per share)	$ 254.19

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Significant Accounting Policies - Changes of Accumulated Other Comprehensive Loss, Net of Tax (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Accumulated Other Comprehensive Loss, Net of Tax [Roll Forward]
Beginning balance	$ 1,911.8	$ 2,044.5	$ 2,127.5
Other comprehensive (loss) income before reclassifications	8.9	(32.6)
Amounts reclassified from accumulated other comprehensive loss	4.3	5.0
Other comprehensive income (loss) items, net of tax	13.2	(27.6)	34.5
Ending balance	2,015.4	1,911.8	2,044.5
Accumulated Other Comprehensive Loss Items
Accumulated Other Comprehensive Loss, Net of Tax [Roll Forward]
Beginning balance	(125.8)	(98.2)	(132.7)
Other comprehensive income (loss) items, net of tax	13.2	(27.6)	34.5
Ending balance	(112.6)	(125.8)	(98.2)
Foreign Currency Items
Accumulated Other Comprehensive Loss, Net of Tax [Roll Forward]
Beginning balance	(73.5)	(40.2)
Other comprehensive (loss) income before reclassifications	8.5	(33.3)
Amounts reclassified from accumulated other comprehensive loss	0.0	0.0
Other comprehensive income (loss) items, net of tax	8.5	(33.3)
Ending balance	(65.0)	(73.5)	(40.2)
Defined Benefit Pension Plans
Accumulated Other Comprehensive Loss, Net of Tax [Roll Forward]
Beginning balance	(52.3)	(58.0)
Other comprehensive (loss) income before reclassifications	0.4	0.7
Amounts reclassified from accumulated other comprehensive loss	4.3	5.0
Other comprehensive income (loss) items, net of tax	4.7	5.7
Ending balance	$ (47.6)	$ (52.3)	$ (58.0)

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481372/852-10-55-10

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-12

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(19))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.6-05(4))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(4)(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(6))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(7))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(31))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 14: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 4.E)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480418/310-10-S99-2

Significant Accounting Policies - Interest Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Accounting Policies [Abstract]
Interest expense	$ 27.9	$ 27.0	$ 24.2
Interest income	(9.0)	(2.1)	(1.0)
Interest expense, net	$ 18.9	$ 24.9	$ 23.2

Amount of the cost of borrowed funds accounted for as interest expense.

Revenue from Contract with Customer [Abstract]

Revenue Recognition (Tables)

12 Months Ended

Aug. 31, 2023

Schedule of Transaction Price from Contracts with Customers Allocated to Company's Contract Liabilities

The amount of transaction price from contracts with customers allocated to our contract liabilities consist of the following as of the dates presented (in millions):


	August 31,
	2023		2022
Current deferred revenues	$	14.1	$	11.4
Non-current deferred revenues	47.6		53.1

Schedule of Revenue from Contract with Customers by Sales Channel


	Year Ended August 31,
	2023		2022		2021
ABL:
Independent sales network	$	2,671.0	$	2,714.1	$	2,400.5
Direct sales network	414.4		384.2		358.1
Retail sales	194.9		178.3		181.5
Corporate accounts	200.3		222.7		168.7
OEM and other	242.2		310.8		178.5
Total ABL	3,722.8		3,810.1		3,287.3
ISG	252.7		216.1		190.0
Eliminations	(23.3)		(20.1)		(16.3)
Total	$	3,952.2	$	4,006.1	$	3,461.0

Significant Accounting Policies - Concentration of Credit Risk (Details)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
One Customer \| Receivables \| Customer Concentration Risk
Concentration Risk [Line Items]
Concentrations as a percentage of total (percent)	10.00%	10.00%

Supplemental Disaggregated Information (Tables)

12 Months Ended

Aug. 31, 2023

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

Our geographic distribution of net sales, operating profit, income before income taxes, and long-lived assets is summarized in the following table during and as of the periods presented (in millions):


	Year Ended August 31,
	2023		2022		2021
Net sales(1):
Domestic(2)	$	3,412.9	$	3,486.4	$	2,982.4
International	539.3		519.7		478.6
Total	$	3,952.2	$	4,006.1	$	3,461.0
Operating profit:
Domestic(2)	$	382.6	$	428.3	$	369.9
International	90.8		81.4		57.7
Total	$	473.4	$	509.7	$	427.6
Income before income taxes:
Domestic(2)	$	367.5	$	409.6	$	343.7
International	79.2		84.3		52.5
Total	$	446.7	$	493.9	$	396.2
Long-lived assets(3):
Domestic(2)	$	323.8	$	325.9	$	284.4
International	107.4		73.5		76.6
Total	$	431.2	$	399.4	$	361.0

_______________________________________

(1)Net sales are attributed to each country based on the selling location.

(2)Domestic amounts include amounts for U.S. based operations.

(3)Long-lived assets include net property, plant, and equipment, operating lease right-of-use assets, and other long-term assets as reflected in the Consolidated Balance Sheets.

Share-based Payments - Estimate Fair Value of Stock Options (Details) - Stock options - Stock Incentive Plan - Market Options	12 Months Ended
	Aug. 31, 2021 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0.50%
Expected volatility	36.50%
Risk-free interest rate	0.70%
Expected life of options	8 years
Weighted-average fair value of options (in dollars per share)	$ 40.45

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Common Stock and Related Matters

Share-based Payments - Stock Options (Details) - Stock Incentive Plan - Stock options - $ / shares shares in Millions	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021	Aug. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Beginning of period, Outstanding (in shares)	1.1	1.2	0.9
Granted (in shares)			0.3
Exercised (less than) (in shares)	(0.1)	(0.1)	(0.1)
Cancelled (in shares)	(0.1)
End of period, Outstanding (in shares)	1.0	1.1	1.2
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Beginning of period, Outstanding (in dollars per share)	$ 132.50	$ 127.98	$ 133.19
Granted (in dollars per share)			108.96
Exercised (in dollars per share)	126.92	88.94	108.58
Cancelled (in dollars per share)	227.15
End of period, Outstanding (in dollars per share)	$ 131.81	$ 132.50	$ 127.98
Outstanding, Number of Shares (in shares)	0.9	0.6	0.5	0.4
Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 135.91	$ 143.15	$ 142.36	$ 151.07
$100.00 - $160.00 (average life - 6.2 years)
Share-based Payment Arrangement, Option, Exercise Price Range, End of Period [Abstract]
Range of option exercise prices, lower range limit (in dollars per share)	100.00
Range of option exercise prices, upper range limit (in dollars per share)	$ 160.00
Range of option exercise prices, average life	6 years 2 months 12 days
Range of option exercise prices, Outstanding, Number of Shares (in shares)	0.8
Range of option exercise prices, Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 119.24
Range of option exercise prices, Exercisable, Number of Shares (in shares)	0.7
Range of option exercise prices, Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 121.22
$160.01 - $210.00 (average life - 2.2 years)
Share-based Payment Arrangement, Option, Exercise Price Range, End of Period [Abstract]
Range of option exercise prices, lower range limit (in dollars per share)	160.01
Range of option exercise prices, upper range limit (in dollars per share)	$ 210.00
Range of option exercise prices, average life	2 years 2 months 12 days
Range of option exercise prices, Outstanding, Number of Shares (in shares)	0.1
Range of option exercise prices, Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 207.80
Range of option exercise prices, Exercisable, Number of Shares (in shares)	0.1
Range of option exercise prices, Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 207.80
$210.01 - $239.76 (average life - 3.1 years)
Share-based Payment Arrangement, Option, Exercise Price Range, End of Period [Abstract]
Range of option exercise prices, lower range limit (in dollars per share)	210.01
Range of option exercise prices, upper range limit (in dollars per share)	$ 239.76
Range of option exercise prices, average life	3 years 1 month 6 days
Range of option exercise prices, Outstanding, Number of Shares (in shares)	0.1
Range of option exercise prices, Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 239.76
Range of option exercise prices, Exercisable, Number of Shares (in shares)	0.1
Range of option exercise prices, Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 239.76

Common Stock and Related Matters

12 Months Ended

Aug. 31, 2023

Equity [Abstract]

Common Stock

Changes in common stock during the periods presented were as follows (amounts and shares in millions):


	Common Stock
	Shares		Amount
			(At par)
Balance at August 31, 2020	53.9		$	0.5
Vesting of share-based payment awards	0.1		—
Stock options exercised	—	*	—
Balance at August 31, 2021	54.0		0.5
Vesting of share-based payment awards	0.1		—
Stock options exercised	0.1		—
Balance at August 31, 2022	54.2		0.5
Vesting of share-based payment awards	0.2		—
Stock options exercised	—	*	—
Balance at August 31, 2023	54.4		$	0.5

___________________________

* Represents shares of less than 0.1 million.

As of August 31, 2023 and 2022, we had 23.4 million and 21.8 million of repurchased shares, respectively, recorded as treasury stock at an original repurchase cost of $2.44 billion and $2.18 billion, respectively.

During fiscal 2023, we repurchased approximately 1.6 million shares of our outstanding common stock. As of August 31, 2023, the maximum number of shares that may yet be repurchased under the share repurchase program authorized by the Board equaled 1.2 million shares. We may repurchase shares of our common stock from time to time at prevailing market prices, depending on market conditions, through open market or privately negotiated transactions.

Preferred Stock

We have 50 million shares of preferred stock authorized. No shares of preferred stock were issued in fiscal 2023 or 2022, and no shares of preferred stock are outstanding.

Earnings per Share

Basic earnings per share for the periods presented is computed by dividing net earnings available to common stockholders by the weighted average number of common shares outstanding for these periods. Diluted earnings per share is computed similarly but reflects the potential dilution that would occur if dilutive options were exercised, unvested share-based payment awards were vested, and other distributions related to deferred stock agreements were incurred. Common stock equivalents are calculated using the treasury stock method. The dilutive effects of share-based payment awards subject to market and/or performance conditions that were not met during the period are excluded from the computation of diluted earnings per share.

The following table calculates basic earnings per common share and diluted earnings per common share during the periods presented (in millions, except per share data):


	Year Ended August 31,
	2023		2022		2021
Net income	$	346.0	$	384.0	$	306.3
Basic weighted average shares outstanding	31.806		34.182		36.284
Common stock equivalents	0.358		0.463		0.270
Diluted weighted average shares outstanding	32.164		34.645		36.554
Basic earnings per share(1)	$	10.88	$	11.23	$	8.44
Diluted earnings per share(1)	$	10.76	$	11.08	$	8.38

____________________

(1) Earnings per share is calculated using unrounded numbers. Amounts in the table may not recalculate exactly due to rounding.


	Year Ended August 31,
	2023		2022	2021
Stock options	0.1		0.1	0.8
Restricted stock awards	0.1		0.1	—	*
Performance stock units	—	*	—	—

_______________________

* Represents shares of less than 0.1 million.

The entire disclosure for equity.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Share-Based Payment Arrangement [Abstract]

Significant Accounting Policies (Policies)	12 Months Ended
Significant Accounting Policies (Policies)	Aug. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	We have 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, Inc. and its wholly-owned subsidiaries.
Principles of Consolidation	The Consolidated Financial Statements include the accounts of Acuity Brands, Inc. and its wholly-owned subsidiaries after elimination of intercompany transactions and accounts.
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.
Revenue Recognition and Shipping and Handling Fees and Costs	Refer to the Revenue Recognition footnote of the Notes to Consolidated Financial Statements for information related to our revenue recognition accounting policies.We include shipping and handling fees billed to customers in Net sales in the Consolidated Statements of Comprehensive Income. When a product is sold, the associated shipping and handling costs are recorded in the Consolidated Statements of Comprehensive Income based on their function. Costs associated with inbound freight and freight between manufacturing facilities and distribution centers are generally recorded in Cost of products sold, which may be capitalized into inventory. Other shipping and handling costs, which primarily include amounts incurred to transfer finished goods to a customer's desired location, are included in Selling, distribution, and administrative expenses Current deferred revenues primarily consist of software licenses as well as professional service and service-type warranty fees collected prior to performing the related service and are included within Other current liabilities on the Consolidated Balance Sheets. These services are expected to be performed within one year. Revenue earned from beginning contract balances during the year ended August 31, 2023 approximated the current deferred revenue balance at August 31, 2022. Non-current deferred revenues primarily consist of long-term service-type warranties, which are typically recognized ratably as revenue between five years and ten years from the date of sale, and are included within Other long-term liabilities on the Consolidated Balance Sheets.
Cash and Cash Equivalents	Cash in excess of daily requirements is invested in time deposits and marketable securities and is included in the accompanying balance sheets at fair value. We consider time deposits and marketable securities with an original maturity of three months or less when purchased to be cash equivalents.
Accounts Receivable	We record accounts receivable at net realizable value. This value includes a reserve for doubtful accounts to reflect our estimate of expected credit losses over the contractual term of our receivables. Our estimation of current expected credit losses reflects our considerations of historical write-offs, an analysis of past due accounts based on the contractual terms of the receivables, and the economic status of customers, if known. We additionally consider the impact of general economic conditions, including construction spending, unemployment rates, and macroeconomic growth, on our customers' future ability to meet their obligations. We believe that the reserve is sufficient to cover uncollectible amounts; however, there can be no assurance that unanticipated future business conditions of customers will not have a negative impact on our results of operations, financial condition, or cash flows.
Concentrations of Credit Risk	Concentrations of credit risk with respect to receivables, which are typically unsecured, are generally limited due to the wide variety of customers and markets using our lighting, lighting controls, building management systems, and location-aware applications as well as their dispersion across many different geographic areas.
Reclassifications	We may reclassify certain prior period amounts to conform to the current year presentation. No material reclassifications occurred during the current period.
Inventories	Inventories include materials, direct labor, inbound freight, customs, duties, tariffs, and related manufacturing overhead. Inventories are stated on a first-in, first-out basis at the lower of cost and net realizable valueWe review inventory quantities on hand and record a provision for excess or obsolete inventory primarily based on estimated future demand and current market conditions. A significant change in customer demand or market conditions could render certain inventory obsolete and could have a material adverse impact on our operating results in the period the change occurs.
Assets Held for Sale	We classify assets as held for sale when a plan for disposal is developed and approved, the asset is available for immediate sale, an active program to locate a buyer at a price reasonable in relation to current fair value is initiated, and transfer of the asset is expected to be completed within one year. We cease the depreciation and amortization of the assets when all of these criteria have been met and generally reflect balances within Prepayments and other current assets on our Consolidated Balance Sheets. We did not have any assets classified as held for sale at August 31, 2023 or August 31, 2022.
Goodwill and Other Intangibles	We test goodwill and indefinite-lived intangible assets for impairment on an annual basis as of the first date of our fourth fiscal quarter (June 1) or more frequently if facts and circumstances indicate an asset is more likely than not impaired, as required by Accounting Standards Codification (“ASC”) Topic 350, Intangibles—Goodwill and Other (“ASC 350”). ASC 350 allows for an optional qualitative analysis for goodwill to determine the likelihood of impairment. If the qualitative review results in a more likely than not probability of impairment, a quantitative analysis is required. The qualitative step may be bypassed entirely in favor of a quantitative test. The quantitative analysis for goodwill tests for impairments by comparing the fair value of a reporting unit to its carrying value, including goodwill. Reporting unit fair values can be determined based on a combination of valuation techniques including the expected present value of future cash flows, a market multiple approach, and a comparable transaction approach. If the fair value of a reporting unit exceeds its carrying value, goodwill is not considered impaired. Conversely, if the carrying value of a reporting unit exceeds its fair value, an impairment charge for the difference would be recorded. The impairment test for indefinite-lived trade names compares the fair value of a trade name with its carrying value. If the carrying amount exceeds the estimated fair value, an impairment loss would be recorded for the amount of the excess. We estimate the fair value of indefinite-lived trade names using a fair value model based on discounted future cash flows. Significant assumptions, including estimated future short-term and long-term net sales, royalty rates, and discount rates, are used in the determination of estimated fair value for indefinite-lived trade names.
Share-based Payments	We account for stock options, restricted stock, performance stock units, and stock units representing certain deferrals into the Nonemployee Director Deferred Compensation Plan (the “Director Plan”) or the Supplemental Deferred Savings Plan (“SDSP”) (both of which are discussed further in the Share-based Payments footnote) based on their grant-date fair values estimated under the provisions of ASC Topic 718, Compensation—Stock Compensation (“ASC 718”).We generally recognize compensation cost for share-based payment transactions on a straight-line basis over an award's requisite service period as defined by ASC 718. We apply the accelerated attribution method in certain circumstances, such as when a performance stock unit is subject to graded vesting. For awards subject to a market condition, we consider both actual and derived service periods, as well as the expected performance period, to determine the appropriate compensation recognition method. We have recorded share-based payment expense, net of estimated forfeitures, in Selling, distribution, and administrative expenses in the Consolidated Statements of Comprehensive Income. Share-based payment expense includes expense related to restricted stock, performance stock units, options issued, and stock units deferred into the Director Plan.
Property, Plant and Equipment	Property, plant, and equipment is initially recorded at cost and depreciated principally on a straight-line basis using estimated useful lives of plant and equipment (3 to 40 years for buildings and related improvements and 2 to 15 years for machinery and equipment) for financial reporting purposes. Accelerated depreciation methods are used for income tax purposes. Leasehold improvements are amortized over the shorter of the life of the lease or the estimated useful life of the improvement.
Property, Plant and Equipment - Depreciation	Property, plant, and equipment is initially recorded at cost and depreciated principally on a straight-line basis using estimated useful lives of plant and equipment (3 to 40 years for buildings and related improvements and 2 to 15 years for machinery and equipment) for financial reporting purposes. Accelerated depreciation methods are used for income tax purposes. Leasehold improvements are amortized over the shorter of the life of the lease or the estimated useful life of the improvement
Research and Development	Research and development (“R&D”) expense consists of compensation, payroll taxes, employee benefits, materials, supplies, and other administrative costs, but it does not include all new or enhanced product development costs. R&D expense is expensed as incurred and is included in Selling, distribution, and administrative expenses in our Consolidated Statements of Comprehensive Income.
Advertising	Advertising costs are expensed as incurred and are included within Selling, distribution, and administrative expenses in our Consolidated Statements of Comprehensive Income.
Interest Expense, Net	Interest expense, net, is comprised primarily of interest expense on long-term debt, line of credit borrowings, and loans that are secured by and presented net of company-owned life insurance policies on our Consolidated Balance Sheets. Interest expense is partially offset by interest income earned on cash and cash equivalents.
Miscellaneous Expense (Income), Net	Miscellaneous expense (income), net, is comprised primarily of non-service related components of net periodic pension cost, gains and losses associated with foreign currency-related transactions, and non-operating gains and losses.
Income Taxes	We are taxed at statutory corporate rates after adjusting income reported for financial statement purposes for certain items that are treated differently for income tax purposes. Deferred income tax expenses or benefits result from changes during the year in cumulative temporary differences between the tax basis and book basis of assets and liabilities. Refer to the Income Taxes footnote of the Notes to Consolidated Financial Statements for additional information.
Foreign Currency Translation	The functional currency for foreign operations is generally the local currency where the foreign operations are domiciled. The translation of foreign currencies into U.S. dollars is performed for asset and liability accounts using exchange rates in effect at the balance sheet dates and for revenue and expense accounts using a weighted average exchange rate each month during the year. The gains or losses resulting from the balance sheet translation are included in Foreign currency translation adjustments in the Consolidated Statements of Comprehensive Income and are excluded from net income.
Comprehensive Income	Comprehensive income represents a measure of all changes in equity that result from recognized transactions and other economic events other than transactions with owners in their capacity as owners. Other comprehensive income (loss) items includes foreign currency translation and pension adjustments.
New Accounting Pronouncements	Accounting Standards Adopted in Fiscal 2023 Accounting Standards Update (“ASU”) 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (“ASU 2021-08”) In October 2021, the Financial Accounting Standards Board (the “FASB”) issued ASU 2021-08, which requires companies to recognize and measure contract assets and contract liabilities acquired in a business combination as if the acquiring company originated the related revenue contracts. ASU 2021-08 is effective for fiscal years beginning after December 15, 2022, or our fiscal 2024, with early adoption permitted, including in an interim period. We early adopted ASU 2021-08 as of May 15, 2023, on a prospective basis, as permitted by the standard, and applied its provisions to our current period acquisition. This standard did not have a material effect on our fiscal 2023 acquisition or our financial condition, results of operations, or cash flows. Accounting Standards Yet to Be Adopted ASU 2023-02, Investments—Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method (“ASU 2023-02”) In March 2023, the FASB issued ASU 2023-02, which expands the permitted use of the proportional amortization method of accounting for certain tax-related investments if certain conditions are met. ASU 2023-02 is effective for fiscal years beginning after December 15, 2023, or our fiscal 2025, with early adoption permitted, including in an interim period. As of August 31, 2023, we do not hold any qualifying investments. Therefore, we do not expect ASU 2023-02 to have a material impact on our financial condition, results of operations, or cash flows. All other newly issued accounting pronouncements not yet effective have been deemed either immaterial or not applicable.
Fair Value Measurements of Pension Plan Assets	Our pension plan assets are stated at fair value based on quoted market prices in an active market, quoted redemption values, or estimates based on reasonable assumptions as of the most recent measurement period. See the Fair Value Measurements footnote for a description of the fair value guidance. No transfers between the levels of the fair value hierarchy occurred during the current fiscal period. In the event of a transfer in or out of a level within the fair value hierarchy, the transfers would be recognized on the date of occurrence. Certain pension assets valued at net asset value (“NAV”) per share as a practical expedient are excluded from the fair value hierarchy. Investments in pension plan assets as of August 31, 2023 are described in further detail below. Short-term Fixed Income Investments Short-term investments consist of money market funds, which are valued at the daily closing price as reported by the relevant fund (Level 1). Mutual Funds Mutual funds held by the domestic plans are open-end mutual funds that are registered with the Securities and Exchange Commission (“SEC”) and seek to either replicate or outperform a related index. These funds are required to publish their daily net asset value and to transact at that price. The mutual funds held by the domestic plans are deemed to be actively traded (Level 1). Collective Trust The collective trust seeks to outperform the overall small-cap stock market and is comprised primarily of small-cap equity securities with quoted prices in active markets for identical investments. The value of this fund is calculated on each business day based on its daily net asset value; however, the collective trust is not deemed to be actively traded (Level 2). Fixed Income Investments The fixed income investment seeks to maximize total return by investing primarily in a diversified portfolio of investment-grade fixed income securities, primarily publicly traded corporate bonds as well as U.S. government and municipal bonds. The investment is valued on each business day based on the values of the underlying holdings and is not actively traded (Level 2). U.S. Treasury Investments The domestic plans hold several fixed-income U.S. Treasury securities that are valued based on discounted future cash flows using rates currently available for debt of similar terms and maturity (Level 2) Real Estate Fund The real estate fund invests primarily in commercial real estate and includes mortgage loans that are backed by the associated property's investment objective. The fund seeks real estate returns, risk, and liquidity appropriate to a core fund. The fund also seeks to provide current income with the potential for long-term capital appreciation. This investment is valued based on the NAV per share, without further adjustment. The NAV, as provided by the fund's trustee, is used as a practical expedient to estimate fair value and is therefore excluded from the fair value hierarchy. NAV is based on the fair value of the underlying investments. Investors may request to redeem all or any portion of their shares on a quarterly basis. Each investor must provide a written redemption request at least sixty days prior to the end of the quarter for which the request is to be effective. If insufficient funds are available to honor all redemption requests at any point in time, available funds will be allocated pro-rata based on the total number of shares held by each investor. All decisions regarding whether to honor redemption requests are made by the fund’s board of directors.

Commitment and Contingencies - Narrative (Details) - former_associate		12 Months Ended
	Jan. 25, 2023	Aug. 31, 2023
Concentration Risk [Line Items]
Standard product warranty period		5 years
Collective Bargaining Agreements
Concentration Risk [Line Items]
Collective bargaining arrangement term		1 year
Data Security Incidents
Concentration Risk [Line Items]
Number of other former associates that filed a class action lawsuit	2
Total Work Force Covered by Collective Bargaining Agreements \| Work force
Concentration Risk [Line Items]
Concentrations as a percentage of total (percent)		65.00%
Workforce Subject to Collective Bargaining Arrangements Expiring Within One Year \| Work force
Concentration Risk [Line Items]
Concentrations as a percentage of total (percent)		57.00%

Pension and Defined Contribution Plans - Net Periodic Pension Cost and Pension Plan Asset Allocation (Details) - Pension Plan - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Domestic Plans
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 3.8	$ 4.4	$ 4.6
Interest cost	7.4	5.3	5.3
Expected return on plan assets	(7.5)	(11.2)	(11.0)
Amortization of prior service cost	2.6	2.9	2.9
Settlement	0.0	0.4	3.9
Recognized actuarial loss	2.4	2.4	4.1
Net periodic pension cost	$ 8.7	$ 4.2	$ 9.8
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Discount rate	5.10%	4.40%
Rate of compensation increase	5.00%	5.00%
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate	4.40%	2.40%	2.20%
Expected return on plan assets	5.50%	6.30%	6.80%
Rate of compensation increase	5.00%	5.00%	5.00%
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Pension plan asset allocation, percentage	100.00%	100.00%
Domestic Plans \| Equity securities
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Pension plan asset allocation, percentage	18.30%	31.60%
Domestic Plans \| Fixed income securities
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Pension plan asset allocation, percentage	75.00%	61.20%
Domestic Plans \| Multi-strategy investments
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Pension plan asset allocation, percentage	0.00%	0.00%
Domestic Plans \| Real estate
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Pension plan asset allocation, percentage	6.70%	7.20%
International Plans
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 0.8	$ 0.4	$ 0.3
Interest cost	1.6	0.9	0.9
Expected return on plan assets	(2.1)	(2.6)	(2.3)
Amortization of prior service cost	0.0	0.0	0.0
Settlement	0.0	0.0	0.0
Recognized actuarial loss	0.6	0.9	1.4
Net periodic pension cost	$ 0.9	$ (0.4)	$ 0.3
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Discount rate	5.90%	4.90%
Rate of compensation increase	3.50%	3.50%
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate	4.90%	1.90%	1.90%
Expected return on plan assets	6.40%	6.40%	6.50%
Rate of compensation increase	3.50%	3.40%	3.40%
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Pension plan asset allocation, percentage	100.00%	100.00%
International Plans \| Equity securities
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Pension plan asset allocation, percentage	17.60%	16.80%
International Plans \| Fixed income securities
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Pension plan asset allocation, percentage	53.30%	22.80%
International Plans \| Multi-strategy investments
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Pension plan asset allocation, percentage	29.10%	60.40%
International Plans \| Real estate
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Pension plan asset allocation, percentage	0.00%	0.00%

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Statement of Stockholders' Equity [Abstract]
Cash dividends per share paid (in dollars per share)	$ 0.52	$ 0.52	$ 0.52

Significant Accounting Policies - Components of Other Comprehensive Income Loss (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Defined benefit pension plans - Net of Tax Amount
Tax adjustments, after tax	$ 8.9	$ (32.6)
Other comprehensive (loss) income before tax	14.5	(26.0)	$ 43.1
Other comprehensive (loss) income, tax	(1.3)	(1.6)	(8.6)
Other comprehensive income (loss) items, net of tax	13.2	(27.6)	34.5
Foreign Currency Items
Foreign currency translation adjustments - Before Tax Amount
Foreign currency translation adjustments	8.5	(33.3)	13.3
Foreign currency translation adjustments - Tax (Expense) or Benefit
Foreign currency translation adjustments	0.0	0.0	0.0
Foreign currency translation adjustments - Net of Tax Amount
Foreign currency translation adjustments	8.5	(33.3)	13.3
Defined benefit pension plans - Net of Tax Amount
Tax adjustments, after tax	8.5	(33.3)
Other comprehensive income (loss) items, net of tax	8.5	(33.3)
Tax adjustments
Defined benefit pension plans - Before Tax Amounts
Tax adjustments, before tax	0.0	0.0	0.0
Defined benefit pension plans - Tax (Expense) or Benefit
Tax adjustments	0.0	0.0	(3.2)
Defined benefit pension plans - Net of Tax Amount
Tax adjustments, after tax	0.0	0.0	(3.2)
Actuarial gains
Defined benefit pension plans - Before Tax Amounts
Actuarial gains (losses)	0.4	0.7	17.5
Defined benefit pension plans - Tax (Expense) or Benefit
Actuarial gains (losses)	0.0	0.0	(3.6)
Defined benefit pension plans - Net of Tax Amount
Actuarial gains (losses)	0.4	0.7	13.9
Prior service cost
Defined benefit pension plans - Before Tax Amounts
Amortization of Defined benefit pension items - Prior service cost	2.6	2.9	2.9
Defined benefit pension plans - Tax (Expense) or Benefit
Amortization of Defined benefit pension items - Prior service cost	(0.6)	(0.7)	(0.6)
Defined benefit pension plans - Net of Tax Amount
Amortization of Defined benefit pension items - Prior service cost	2.0	2.2	2.3
Actuarial losses
Defined benefit pension plans - Before Tax Amounts
Amortization of Defined benefit pension items - Actuarial losses	3.0	3.3	5.5
Defined benefit pension plans - Tax (Expense) or Benefit
Amortization of Defined benefit pension items - Actuarial losses	(0.7)	(0.8)	(1.2)
Defined benefit pension plans - Net of Tax Amount
Amortization of Defined benefit pension items - Actuarial losses	2.3	2.5	4.3
Settlement losses
Defined benefit pension plans - Before Tax Amounts
Amortization of Defined benefit pension items - Settlement losses	0.0	0.4	3.9
Defined benefit pension plans - Tax (Expense) or Benefit
Amortization of Defined benefit pension items - Settlement losses	0.0	(0.1)	0.0
Defined benefit pension plans - Net of Tax Amount
Amortization of Defined benefit pension items - Settlement losses	0.0	0.3	3.9
Defined Benefit Pension Plans
Defined benefit pension plans - Before Tax Amounts
Total defined benefit plans, net - before tax	6.0	7.3	29.8
Defined benefit pension plans - Tax (Expense) or Benefit
Total defined benefit plans, net - tax	(1.3)	(1.6)	(8.6)
Defined benefit pension plans - Net of Tax Amount
Tax adjustments, after tax	0.4	0.7
Total defined benefit plans, net - net of tax	4.7	5.7	$ 21.2
Other comprehensive income (loss) items, net of tax	$ 4.7	$ 5.7

Common Stock and Related Matters - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Treasury Stock Transactions, Excluding Value of Shares Reissued [Abstract]
Treasury stock (in shares)	23,362,196	21,753,820
Treasury stock at original repurchase cost	$ 2,444.7	$ 2,175.4
Reacquired shares of outstanding common stock (shares)	1,600,000
Maximum number of shares that may yet be purchased under the program (shares)	1,200,000
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Preferred stock authorized (in shares)	50,000,000	50,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0

Share-based Payments (Tables)

12 Months Ended

Aug. 31, 2023

Schedule of Share-based Compensation Recognized

Compensation expense recognized related to the awards under the current and prior equity incentive plans during the periods presented is summarized as follows (in millions):


	Year Ended August 31,
	2023		2022		2021
Restricted stock awards and units	$	19.6	$	17.2	$	15.1
Performance stock units	15.2		9.9		6.8
Stock options	5.7		8.8		9.2
Director stock units	1.5		1.5		1.4
Total share-based payment expense	$	42.0	$	37.4	$	32.5

Schedule of Restricted Stock Award Activity

Activity related to restricted stock awards during the periods presented was as follows (in millions, except per share data):


	Number of Shares	Weighted Average Grant Date Fair Value Per Share
Outstanding at August 31, 2020	0.4	$	134.68
Granted	0.2	$	108.79
Vested	(0.1)	$	150.44
Forfeited	(0.1)	$	116.33
Outstanding at August 31, 2021	0.4	$	116.77
Granted	0.1	$	204.36
Vested	(0.1)	$	122.27
Forfeited	(0.1)	$	131.08
Outstanding at August 31, 2022	0.3	$	144.51
Granted	0.2	$	175.23
Vested	(0.1)	$	140.85
Forfeited	(0.1)	$	163.37
Outstanding at August 31, 2023	0.3	$	159.33

___________________________

* Represents shares of less than 0.1 million.

Schedule of Performance Shares Outstanding Activity and Weighted Average Assumptions Used to Estimate Fair Value


						2023
Dividend yield						—%
Expected volatility						46.7%
Risk-free interest rate						4.5%
Fair value of awards						$254.19

Activity related to performance stock units during the periods presented was as follows (in millions, except per share data):


	Number of Shares		Weighted Average Grant Date Fair Value Per Share
Outstanding at August 31, 2020	0.1		$	124.29
Granted	0.1		$	91.34

Forfeited	—	*	$	104.34
Outstanding at August 31, 2021	0.2		$	109.99
Granted	—	*	$	207.02

Forfeited	—	*	$	113.51
Outstanding at August 31, 2022	0.2		$	145.46
Granted	0.1		$	186.78
Vested	(0.1)		$	124.29
Forfeited	—	*	$	195.67
Outstanding at August 31, 2023	0.2		$	171.01

___________________________

* Represents shares of less than 0.1 million.

Schedule of the Weighted Average Assumptions Used to Estimate Fair Value of Stock Options

The following weighted average assumptions were used to estimate the fair value of the stock options granted in the fiscal year presented:


						Market Options
						2021
Dividend yield						0.5%
Expected volatility						36.5%
Risk-free interest rate						0.7%
Expected life of options						8 years
Weighted-average fair value of options						$40.45

Schedule of Stock Option Transactions

Stock option activity during the periods presented was as follows:


	Outstanding				Exercisable
	Number of Options (in millions)		Weighted Average Exercise Price		Number of Options (in millions)	Weighted Average Exercise Price
Outstanding at August 31, 2020	0.9		$	133.19	0.4	$	151.07
Granted	0.3		$	108.96
Exercised	—	*	$	108.58

Outstanding at August 31, 2021	1.2		$	127.98	0.5	$	142.36

Exercised	(0.1)		$	88.94

Outstanding at August 31, 2022	1.1		$	132.50	0.6	$	143.15

Exercised	—	*	$	126.92
Forfeitures	(0.1)		$	227.15
Outstanding at August 31, 2023	1.0		$	131.81	0.9	$	135.91
Range of option exercise prices:


$100.00 - $160.00 (average life - 6.2 years)	0.8		$	119.24	0.7	$	121.22
$160.01 - $210.00 (average life - 2.2 years)	0.1		$	207.80	0.1	$	207.80
$210.01 - $239.76 (average life - 3.1 years)	0.1		$	239.76	0.1	$	239.76

___________________________

* Represents amounts of less than 0.1 million.

Description of Business and Basis of Presentation (Details)	12 Months Ended
	Aug. 31, 2023 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	2

Segment Information (Tables)

12 Months Ended

Aug. 31, 2023

Schedule of Segment Reporting Information, by Segment

The following table presents financial information by operating segment for the periods presented (in millions):


	Year Ended August 31,
	2023		2022		2021
Net sales:
ABL	$	3,722.8	$	3,810.1	$	3,287.3
ISG	252.7		216.1		190.0
Eliminations(1)	(23.3)		(20.1)		(16.3)
Total	$	3,952.2	$	4,006.1	$	3,461.0
Operating profit (loss):
ABL(2)	$	509.5	$	545.6	$	476.2
ISG	32.1		22.7		9.9
Unallocated corporate amounts	(68.2)		(58.6)		(58.5)
Total	$	473.4	$	509.7	$	427.6
Depreciation and amortization:
ABL	$	77.4	$	79.3	$	84.3
ISG	14.4		14.4		14.7
Unallocated corporate amounts	1.4		1.1		1.1
Total	$	93.2	$	94.8	$	100.1
Segment assets:
ABL	$	870.1	$	1,097.8	$	925.3
ISG	53.7		53.8		45.2
Unallocated corporate amounts	2,484.7		2,328.6		2,604.6
Total	$	3,408.5	$	3,480.2	$	3,575.1
Capital expenditures:
ABL	$	59.3	$	51.7	$	42.9
ISG	3.5		2.6		0.8
Unallocated corporate amounts	3.9		2.2		0.1
Total	$	66.7	$	56.5	$	43.8

____________________________

(1) These amounts represent intersegment sales. Profit on these sales eliminates within gross profit on a consolidated basis.

Schedule of Reconciliation of Operating Profit (Loss) from Segments to Consolidated

The following table reconciles operating profit by segment to income before income taxes (in millions):


	Year Ended August 31,
	2023		2022		2021
Operating profit - ABL	$	509.5	$	545.6	$	476.2
Operating profit - ISG	32.1		22.7		9.9
Unallocated corporate amounts	(68.2)		(58.6)		(58.5)
Operating profit	473.4		509.7		427.6
Interest expense, net	18.9		24.9		23.2
Miscellaneous expense (income), net	7.8		(9.1)		8.2
Income before income taxes	$	446.7	$	493.9	$	396.2

Income Taxes - Schedule of Change in Unrecognized Income Tax Benefit (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits balance at beginning of year	$ 19.5	$ 17.7	$ 17.2
Additions based on tax positions related to the current year	4.3	3.5	5.2
Additions for tax positions of prior years	1.4	0.1	0.1
Reductions for tax positions of prior years	(1.7)	(0.2)	(0.1)
Reductions due to settlements	(0.5)	0.0	(4.6)
Reductions due to lapse of statute of limitations	(2.9)	(1.6)	(0.1)
Unrecognized tax benefits balance at end of year	$ 20.1	$ 19.5	$ 17.7

Common Stock and Related Matters - Earnings per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions

12 Months Ended

Aug. 31, 2023

Aug. 31, 2022

Aug. 31, 2021

Basic weighted average shares outstanding (in shares)

$ 346.0

$ 384.0

$ 306.3

31,806

34,182

36,284

Common stock equivalents (in shares)

358

463

270

Diluted weighted average number of shares outstanding (in shares)

32,164

34,645

36,554

Basic earnings per share (in dollars per share)

^[1]

$ 10.88

$ 11.23

$ 8.44

Diluted earnings per share (in dollars per share)

^[1]

$ 10.76

$ 11.08

$ 8.38

Stock options

Stock options (less than) excluded from diluted earnings per share (in shares)

100

800

Restricted stock awards and units

Stock options (less than) excluded from diluted earnings per share (in shares)

100

Performance stock units

Stock options (less than) excluded from diluted earnings per share (in shares)

100

[1]	(1) Earnings per share is calculated using unrounded numbers. Amounts in the table may not recalculate exactly due to rounding.

Acquisitions and Divestitures (Details) $ in Millions	1 Months Ended	12 Months Ended
Acquisitions and Divestitures (Details) $ in Millions	Nov. 30, 2022 USD ($)	Aug. 31, 2023 USD ($)	Aug. 31, 2022 USD ($) acquisition	Oct. 30, 2022 USD ($)	Aug. 31, 2021 USD ($)
Business Acquisition [Line Items]
Number of acquisitions \| acquisition			0
Cash outflows for working capital settlements			$ (12.9)
Goodwill		$ 1,097.9	$ 1,084.3		$ 1,094.7
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration]		Other Nonoperating Income (Expense)
Intelligent Spaces Group Segment
Business Acquisition [Line Items]
Goodwill		$ 15.0
Disposal Group, Not Discontinued Operations \| Sunoptics Business
Business Acquisition [Line Items]
Assets transferred				$ 15.1
Pre-tax loss on sale	$ 11.2	11.2
Fiscal 2023 Acquisitions
Business Acquisition [Line Items]
Goodwill		15.0
Identifiable intangible assets		$ 18.0
Weighted average amortization period in years		15 years
Fiscal 2021 Acquisitions
Business Acquisition [Line Items]
Goodwill		$ 12.3
Identifiable intangible assets		$ 6.7
Weighted average amortization period in years		11 years
Goodwill expected to be tax deductible		$ 9.2

Income Taxes - Schedule of Components of Net Deferred Income Taxes (Details) - USD ($) $ in Millions	Aug. 31, 2023	Aug. 31, 2022
Deferred income tax liabilities:
Depreciation	$ (21.5)	$ (18.6)
Goodwill and intangibles	(151.2)	(154.2)
Operating lease right of use assets	(19.8)	(18.3)
Other liabilities	(3.4)	(7.4)
Total deferred income tax liabilities	(195.9)	(198.5)
Deferred income tax assets:
Self-insurance	1.7	1.6
Pension	5.9	7.1
Deferred compensation	23.1	22.2
Net operating losses	6.2	5.8
Other accruals not yet deductible	43.4	42.9
Operating lease liabilities	22.6	20.3
Capitalized research and development	41.5	0.0
Other assets	15.4	9.3
Total deferred income tax assets	159.8	109.2
Valuation allowance	(19.9)	(11.5)
Net deferred income tax liabilities	$ (56.0)	$ (100.8)

Income Taxes - Schedule of Reconciliation of Federal Statutory Rate to Total Provision for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Income Tax Disclosure [Abstract]
Federal income tax computed at statutory rate	$ 93.8	$ 103.7	$ 83.2
State income tax, net of federal income tax benefit	11.4	13.5	10.7
Federal permanent differences	2.2	(4.3)	0.6
Foreign permanent differences and rate differential	4.4	4.3	2.4
Research and development tax credits	(8.3)	(7.6)	(7.6)
Unrecognized tax benefits	1.9	2.1	0.7
Other, net	(4.7)	(1.8)	(0.1)
Total provision for income taxes	$ 100.7	$ 109.9	$ 89.9

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

Schedule Of Inventory Reserve

Significant Accounting Policies (Tables)

12 Months Ended

Aug. 31, 2023

Accounting Policies [Abstract]

Schedule of Inventory

Inventories include materials, direct labor, inbound freight, customs, duties, tariffs, and related manufacturing overhead. Inventories are stated on a first-in, first-out basis at the lower of cost and net realizable value and consist of the following as of the dates presented (in millions):


	August 31,
	2023		2022
Raw materials, supplies, and work in process(1)	$	214.0	$	252.6
Finished goods	180.3		264.0
Inventories excluding reserves	394.3		516.6
Less: Reserves	(25.8)		(30.9)
Total inventories	$	368.5	$	485.7

_______________________________________

(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.

The following table summarizes the changes in our inventory reserves for the periods presented (in millions):


	Year Ended August 31,
	2023		2022		2021
Beginning balance	$	30.9	$	38.0	$	49.3
Additions to reserve	16.2		15.7		21.4
Disposals of reserved inventory	(20.6)		(22.5)		(32.7)
Foreign currency translation adjustments	(0.7)		(0.3)		—
Ending balance	$	25.8	$	30.9	$	38.0

Schedule of Goodwill

The changes in the carrying amount of goodwill during the periods presented by segment are summarized as follows (in millions):


	ABL		ISG		Total
Balance as of August 31, 2021	$	1,022.2	$	72.5	$	1,094.7

Adjustments to provisional amounts from acquired businesses	2.3		—		2.3
Foreign currency translation adjustments	(10.3)		(2.4)		(12.7)
Balance as of August 31, 2022	1,014.2		70.1		1,084.3
Additions from acquired businesses	—		15.2		15.2
Adjustments to provisional amounts from acquired businesses	—		(0.2)		(0.2)
Derecognitions for divestitures	(0.7)		—		(0.7)
Foreign currency translation adjustments	0.9		(1.6)		(0.7)
Balance as of August 31, 2023	$	1,014.4	$	83.5	$	1,097.9

Schedule of Acquired Finite-Lived Intangible Assets

Summarized information for our intangible assets is as follows as of the dates presented (in millions except amortization periods):


	August 31,
	2023				2022
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Definite-lived intangible assets:
Patents and patented technology	$	158.8	$	(122.3)	$	160.8	$	(116.0)
Trademarks and trade names	45.5		(18.4)		27.2		(18.3)
Distribution network	61.8		(49.4)		61.8		(47.3)
Customer relationships	425.0		(155.4)		427.7		(140.4)

Total definite-lived intangible assets	$	691.1	$	(345.5)	$	677.5	$	(322.0)
Indefinite-lived trade names	$	135.6			$	173.7

Schedule of Acquired Indefinite-Lived Intangible Assets

Summarized information for our intangible assets is as follows as of the dates presented (in millions except amortization periods):


	August 31,
	2023				2022
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Definite-lived intangible assets:
Patents and patented technology	$	158.8	$	(122.3)	$	160.8	$	(116.0)
Trademarks and trade names	45.5		(18.4)		27.2		(18.3)
Distribution network	61.8		(49.4)		61.8		(47.3)
Customer relationships	425.0		(155.4)		427.7		(140.4)

Total definite-lived intangible assets	$	691.1	$	(345.5)	$	677.5	$	(322.0)
Indefinite-lived trade names	$	135.6			$	173.7

Schedule of Other Long-Term Assets

Other long-term assets consist of the following items whose economic benefits are expected to be realized greater than one year from the dates presented (in millions):


	August 31,
	2023		2022
Deferred costs and other assets(1) (2)	$	29.9	$	28.1

Investments in debt and equity securities	7.2		11.9

Pensions plans in which plan assets exceed benefit obligation	12.4		8.0


Total other long-term assets	$	49.5	$	48.0

_______________________________________

(1)Estimated recoveries of warranty and recall costs, net of estimated credit losses, expected to be recovered greater than one year from the respective balance sheet dates are included in this category.

(2)Included within this category are company-owned life insurance investments. We maintain life insurance policies on 56 former employees primarily to satisfy obligations under certain deferred compensation plans. These company-owned life insurance policies are presented net of loans that are secured by these policies. This program is frozen, and no new policies were issued in the three-year period ended August 31, 2023.

Schedule of Other Current Liabilities

Other current liabilities consist of the following as of the dates presented (in millions):


	August 31,
	2023		2022
Customer incentive programs(1)	$	31.6	$	40.7
Refunds to customers(1)	25.6		28.0
Current deferred revenues(1)	14.1		11.4
Sales commissions	35.7		41.9
Freight costs	15.0		22.8
Warranty and recall costs(2)	22.8		22.4
Tax-related items(3)	9.2		13.9
Interest on long-term debt(4)	2.3		2.3
Other	30.4		30.7
Total other current liabilities	$	186.7	$	214.1

____________________________________

(1)Refer to the Revenue Recognition footnote of the Notes to Consolidated Financial Statements for additional information.

(2)Refer to the Commitments and Contingencies footnote of the Notes to Consolidated Financial Statements for additional information.

(3)Includes accruals for income, property, sales and use, and value added taxes.

(4)Refer to the Debt and Lines of Credit footnote of the Notes to Consolidated Financial Statements for additional information.

Schedule of Other Long-Term Liabilities

Other long-term liabilities consist of the following as of the dates presented (in millions):


	August 31,
	2023		2022
Deferred compensation and postretirement benefits other than pensions(1)	$	45.6	$	44.4
Deferred revenues(2)	47.6		53.1
Unrecognized tax position liabilities, including interest(3)	23.4		22.0
Self-insurance liabilities(4)	3.8		3.7
Product warranty and recall costs(4)	8.8		4.9
Other	—		0.8
Total other long-term liabilities	$	129.2	$	128.9

____________________________________

(1)We maintain several non-qualified retirement plans for the benefit of eligible employees, primarily deferred compensation plans. The deferred compensation plans provide for elective deferrals of an eligible employee’s compensation and, in some cases, matching contributions by the organization. We maintain life insurance policies on certain former officers and other key employees as a means of satisfying a portion of these obligations.

(2)Refer to the Revenue Recognition footnote of the Notes to Consolidated Financial Statements for additional information.

(3)Refer to the Income Taxes footnote of the Notes to Consolidated Financial Statements for additional information.

(4)Refer to the Commitments and Contingencies footnote of the Notes to Consolidated Financial Statements for additional information.

Schedule of Property, Plant and Equipment

The balance of property, plant, and equipment consists of the following as of the dates presented (in millions):


	August 31,
	2023		2022
Land	$	23.0	$	22.0
Buildings and leasehold improvements	210.9		202.3
Machinery and equipment	727.9		667.6
Total property, plant, and equipment, at cost	961.8		891.9
Less: Accumulated depreciation and amortization	(664.2)		(615.4)
Property, plant, and equipment, net	$	297.6	$	276.5

Schedule of Interest Expense, Net

The following table summarizes the components of Interest expense, net during the periods presented (in millions):


	Year Ended August 31,
	2023		2022		2021
Interest expense	$	27.9	$	27.0	$	24.2
Interest income	(9.0)		(2.1)		(1.0)
Interest expense, net	$	18.9	$	24.9	$	23.2

Schedule of Accumulated Other Comprehensive Loss

The following table presents the changes in each component of accumulated other comprehensive loss net of tax during the periods presented (in millions):


	Foreign Currency Items		Defined Benefit Pension Plans		Accumulated Other Comprehensive Loss Items
Balance as of August 31, 2021	$	(40.2)	$	(58.0)	$	(98.2)
Other comprehensive (loss) income before reclassifications	(33.3)		0.7		(32.6)
Amounts reclassified from accumulated other comprehensive loss (1)	—		5.0		5.0
Net current period other comprehensive (loss) income	(33.3)		5.7		(27.6)
Balance as of August 31, 2022	(73.5)		(52.3)		(125.8)
Other comprehensive income before reclassifications	8.5		0.4		8.9
Amounts reclassified from accumulated other comprehensive loss (1)	—		4.3		4.3
Net current period other comprehensive income	8.5		4.7		13.2
Balance as of August 31, 2023	$	(65.0)	$	(47.6)	$	(112.6)

_______________________________________

(1)The before tax amounts of the defined benefit pension plan items are included in net periodic pension cost. See the Pension and Defined Contribution Plans footnote for additional details.

Schedule of Comprehensive Income (Loss)

The following table presents the tax expense or benefit allocated to each component of other comprehensive income (loss) during the periods presented (in millions):


	Year Ended August 31,
	2023						2022						2021
	Before Tax Amount		Tax (Expense) or Benefit		Net of Tax Amount		Before Tax Amount		Tax (Expense) or Benefit		Net of Tax Amount		Before Tax Amount		Tax (Expense) or Benefit		Net of Tax Amount
Foreign currency translation adjustments	$	8.5	$	—	$	8.5	$	(33.3)	$	—	$	(33.3)	$	13.3	$	—	$	13.3
Defined benefit pension plans:
Tax adjustments	—		—		—		—		—		—		—		(3.2)		(3.2)
Actuarial gains	0.4		—		0.4		0.7		—		0.7		17.5		(3.6)		13.9
Amortization of defined benefit pension items:
Prior service cost	2.6		(0.6)		2.0		2.9		(0.7)		2.2		2.9		(0.6)		2.3
Actuarial losses	3.0		(0.7)		2.3		3.3		(0.8)		2.5		5.5		(1.2)		4.3
Settlement losses	—		—		—		0.4		(0.1)		0.3		3.9		—		3.9
Total defined benefit plans, net	6.0		(1.3)		4.7		7.3		(1.6)		5.7		29.8		(8.6)		21.2
Other comprehensive income (loss)	$	14.5	$	(1.3)	$	13.2	$	(26.0)	$	(1.6)	$	(27.6)	$	43.1	$	(8.6)	$	34.5

Special Charges - Schedule of Details of Special Charges Incurred (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Restructuring and Related Activities [Abstract]
Trade name impairment charges	$ 14.0		$ 0.0
Severance and employee-related costs	7.7		1.7
Operating lease asset group impairment charge	4.3		0.0
Other restructuring costs	0.9		1.6
Total special charges	$ 26.9	$ 0.0	$ 3.3

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2016-13 [Member]

Indicates amendment to accounting standards.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 50
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147477123/405-50-65-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 13
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482477/820-10-65-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482477/820-10-65-13

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-5

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-5

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-5

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 832
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483482/832-10-65-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 832
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483482/832-10-65-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479845/805-20-65-3

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479845/805-20-65-3

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479845/805-20-65-3

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479832/842-10-65-5

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479832/842-10-65-5

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479832/842-10-65-5

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-2

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483550/848-10-65-2

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483550/848-10-65-2

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483550/848-10-65-2

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)(3)(iii)(01)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483550/848-10-65-2

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)(3)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483550/848-10-65-2

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479343/105-10-65-6

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479343/105-10-65-6

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479343/105-10-65-6

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479343/105-10-65-6

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479343/105-10-65-6

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 38: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 39: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 40: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (h)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 41: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-4

Reference 42: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-4

Reference 43: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-4

Reference 44: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 45: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (d)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 46: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-4

Reference 47: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (e)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-4

Reference 48: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-4

Reference 49: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 15
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480336/718-10-65-15

Reference 50: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 15
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480336/718-10-65-15

Reference 51: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 15
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480336/718-10-65-15

Reference 52: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 53: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 54: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 55: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482833/825-10-65-6

Reference 56: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482833/825-10-65-6

Reference 57: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482833/825-10-65-6

Reference 58: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482833/825-10-65-6

Reference 59: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 60: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 61: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 62: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 63: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 64: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 65: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 66: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 67: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 68: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 69: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 70: http://www.xbrl.org/2003/role/disclosureRef
-Topic 310
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481925/310-20-65-2

Reference 71: http://www.xbrl.org/2003/role/disclosureRef
-Topic 310
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481925/310-20-65-2

Reference 72: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Share-Based Payment Arrangement [Abstract]

Share-based Payments

12 Months Ended

Aug. 31, 2023

Share-based Payments

Omnibus Stock Compensation Incentive and Directors’ Equity Plans

In January 2022, our stockholders approved the Amended and Restated Acuity Brands, Inc. 2012 Omnibus Stock Compensation Incentive Plan (the “Stock Incentive Plan”), which, among other things, increased the total number of shares authorized for issuance pursuant to the Stock Incentive Plan from 2.7 million to 3.6 million, with a corresponding increase to shares available for grant. The Compensation and Management Development Committee of the Board of Directors (the “Compensation Committee") is authorized to issue awards consisting of incentive and non-qualified stock options, stock appreciation rights, restricted stock awards, restricted stock units, performance stock awards, performance stock units, stock bonus awards, and cash-based awards to eligible employees, non-employee directors, and outside consultants.

Shares available for grant under the Stock Incentive Plan were approximately 1.0 million, 1.1 million, and 0.3 million at August 31, 2023, 2022, and 2021, respectively. Any shares subject to an award under the Stock Incentive Plan

that are forfeited, canceled, expired, or settled for cash will be available for future grant under the Stock Incentive Plan.

Our share-based payment awards are valued based on their grant date fair values as described further below. We recognize compensation cost for share-based payment transactions in accordance with ASC 718. For most of our awards, compensation cost is recognized on a straight-line basis over the award's requisite service period. We apply the accelerated attribution method in certain circumstances, such as when a performance stock unit is subject to graded vesting. For awards subject to a market condition, we consider both actual and derived service periods, as well as the expected performance period, to determine the appropriate compensation recognition method.

Compensation expense recognized related to the awards under the current and prior equity incentive plans during the periods presented is summarized as follows (in millions):


	Year Ended August 31,
	2023		2022		2021
Restricted stock awards and units	$	19.6	$	17.2	$	15.1
Performance stock units	15.2		9.9		6.8
Stock options	5.7		8.8		9.2
Director stock units	1.5		1.5		1.4
Total share-based payment expense	$	42.0	$	37.4	$	32.5

Restricted Stock

As of August 31, 2023, we had approximately 0.3 million shares outstanding of restricted stock to officers, directors, and other key employees under the Stock Incentive Plan. Grants awarded prior to fiscal 2022 vest primarily over a four-year period, and grants awarded beginning in fiscal 2022 vest primarily over a three-year period. Our restricted stock grants are valued at the closing stock price on the date of the grant.

Activity related to restricted stock awards during the periods presented was as follows (in millions, except per share data):


	Number of Shares	Weighted Average Grant Date Fair Value Per Share
Outstanding at August 31, 2020	0.4	$	134.68
Granted	0.2	$	108.79
Vested	(0.1)	$	150.44
Forfeited	(0.1)	$	116.33
Outstanding at August 31, 2021	0.4	$	116.77
Granted	0.1	$	204.36
Vested	(0.1)	$	122.27
Forfeited	(0.1)	$	131.08
Outstanding at August 31, 2022	0.3	$	144.51
Granted	0.2	$	175.23
Vested	(0.1)	$	140.85
Forfeited	(0.1)	$	163.37
Outstanding at August 31, 2023	0.3	$	159.33

___________________________

* Represents shares of less than 0.1 million.

As of August 31, 2023, there was $31.8 million of total unrecognized compensation cost related to unvested restricted stock, which is expected to be recognized over a weighted-average period of 1.3 years. The total fair

value of stock vested during the years ended August 31, 2023, 2022, and 2021 was approximately $19.9 million, $16.4 million, and $19.5 million, respectively.

Performance Stock Units

As of August 31, 2023, we had approximately 0.2 million performance stock units outstanding to officers, directors, and other key employees under the Stock Incentive Plan. Our performance stock units vest primarily over a three-year period.

For most of these grants, the actual number of performance stock units earned for these awards will be determined at the end of the related performance period based on the level of achievement of established performance thresholds. Such grants are valued at the closing stock price of the grant. We recognize compensation expense for these grants proportionately over the requisite service period for each employee when it becomes probable that the performance metric will be satisfied.

A small subset of our performance stock units granted in fiscal 2023 have a payout based on a total shareholder return relative to a peer group index over a three-year period. These awards are valued using a Monte-Carlo simulation and are expensed over the longer of the requisite service period and the derived service period. Stock compensation may be accelerated if a market condition is met prior to the derived service period lapsing. All inputs into the Monte Carlo simulation are estimates made at the time of grant, which are summarized in the table below. Actual realized value of each award could materially differ from these estimates, without impact to future reported net income. Dividends were assumed to be reinvested on the ex-dividend date for us and peer companies. Expected volatility was based on historical volatility of our stock as well as our peer group. The risk-free interest rate was based on the U.S. Treasury yield consistent with the derived performance period.


						2023
Dividend yield						—%
Expected volatility						46.7%
Risk-free interest rate						4.5%
Fair value of awards						$254.19

Activity related to performance stock units during the periods presented was as follows (in millions, except per share data):


	Number of Shares		Weighted Average Grant Date Fair Value Per Share
Outstanding at August 31, 2020	0.1		$	124.29
Granted	0.1		$	91.34

Forfeited	—	*	$	104.34
Outstanding at August 31, 2021	0.2		$	109.99
Granted	—	*	$	207.02

Forfeited	—	*	$	113.51
Outstanding at August 31, 2022	0.2		$	145.46
Granted	0.1		$	186.78
Vested	(0.1)		$	124.29
Forfeited	—	*	$	195.67
Outstanding at August 31, 2023	0.2		$	171.01

___________________________

* Represents shares of less than 0.1 million.

As of August 31, 2023 there was $11.7 million of total unrecognized compensation cost related to unvested performance stock units. This cost is expected to be recognized over a weighted-average period of approximately 1.4 years. The total fair value of performance units vested during the year ended August 31, 2023 was approximately $11.5 million. No awards vested during the years ended August 31, 2022 or 2021, respectively.

Stock Options

As of August 31, 2023, we had approximately 1.0 million options outstanding to officers as well as other key current and former employees under the Stock Incentive Plan, all of which were granted in previous fiscal years. Of these options 0.3 million were granted in fiscal 2021 and become exercisable over a four-year period. These options are also subject to a market condition (the "Market Options"). Options issued under the Stock Incentive Plan are generally granted with an exercise price equal to the fair market value of our stock on the date of grant, but never less than the fair market value on the grant date, and expire 10 years from the date of grant.

The fair value of each Market Option was estimated on the date of grant using the Monte Carlo simulation model. The dividend yield was calculated based on annual dividends paid and the trailing 12-month average closing stock price at the time of grant. Expected volatility was based on historical volatility of our stock, calculated using the most recent time period equal to the expected life of the options. The risk-free interest rate was based on the U.S. Treasury yield for a term equal to the contractual term for the Market Options. The expected life of the Market Options is based on projected exercise dates resulting from the Monte Carlo simulation for each award tranche. All inputs noted above are estimates made at the time of grant. All inputs into the Monte Carlo simulation are estimates made at the time of grant. Actual realized value of each option grant could materially differ from these estimates, without impact to future reported net income.

The following weighted average assumptions were used to estimate the fair value of the stock options granted in the fiscal year presented:


						Market Options
						2021
Dividend yield						0.5%
Expected volatility						36.5%
Risk-free interest rate						0.7%
Expected life of options						8 years
Weighted-average fair value of options						$40.45

Stock option activity during the periods presented was as follows:


	Outstanding				Exercisable
	Number of Options (in millions)		Weighted Average Exercise Price		Number of Options (in millions)	Weighted Average Exercise Price
Outstanding at August 31, 2020	0.9		$	133.19	0.4	$	151.07
Granted	0.3		$	108.96
Exercised	—	*	$	108.58

Outstanding at August 31, 2021	1.2		$	127.98	0.5	$	142.36

Exercised	(0.1)		$	88.94

Outstanding at August 31, 2022	1.1		$	132.50	0.6	$	143.15

Exercised	—	*	$	126.92
Forfeitures	(0.1)		$	227.15
Outstanding at August 31, 2023	1.0		$	131.81	0.9	$	135.91
Range of option exercise prices:


$100.00 - $160.00 (average life - 6.2 years)	0.8		$	119.24	0.7	$	121.22
$160.01 - $210.00 (average life - 2.2 years)	0.1		$	207.80	0.1	$	207.80
$210.01 - $239.76 (average life - 3.1 years)	0.1		$	239.76	0.1	$	239.76

___________________________

* Represents amounts of less than 0.1 million.

The total intrinsic value of options exercised during the years ended August 31, 2023, 2022, and 2021 was approximately $0.5 million, $14.0 million, and $1.2 million, respectively. As of August 31, 2023, the total intrinsic value of options outstanding was $37.9 million, the total intrinsic value of options expected to vest was $8.3 million, and the total intrinsic value of options exercisable was $29.6 million. As of August 31, 2023, there was $3.2 million of total unrecognized compensation cost related to unvested options. This cost is expected to be recognized over a weighted-average period of approximately 1.2 years.

Employee Deferred Stock Units

We previously allowed employees to defer a portion of restricted stock awards granted in fiscal 2003 and fiscal 2004 into the SDSP as stock units. The stock units are payable in shares of stock at the time of distribution from the SDSP. As of August 31, 2023, approximately 4,000 fully vested stock units remain deferred, but undistributed, under the Stock Incentive Plan. There was no compensation expense related to these stock units during fiscal years 2023, 2022, and 2021.

Director Deferred Stock Units

In January 2022, the total remaining shares available for issuance under the Director Plan were transferred into the Stock Incentive Plan. As of August 31, 2023, approximately 45,000 stock units were deferred but undistributed under the Director Plan.

Employee Stock Purchase Plan

Employees are able to purchase, through payroll deduction, common stock at a 5% discount on a monthly basis. There were 1.5 million shares of our common stock reserved for purchase under the plan, of which approximately 1.0 million shares remain available as of August 31, 2023. Employees may participate at their discretion.

Pension and Defined Contribution Plans

12 Months Ended

Aug. 31, 2023

Retirement Benefits [Abstract]

Pension and Defined Contribution Plans

Company-sponsored Pension Plans

We have several pension plans, both qualified and non-qualified, covering certain hourly and salaried employees.

Benefits paid under these plans are based generally on employees’ years of service and/or compensation during the final years of employment. We historically have made at least the minimum annual contributions to the plans to the extent indicated by actuarial valuations and statutory requirements. Plan assets are invested primarily in fixed income and equity securities. Current period net actuarial gains in our projected benefit obligation primarily reflect an increase in the discount rate from our prior year valuation.

The following tables reflect the status of our domestic (U.S.-based) and international pension plans as of the dates presented (in millions):


	Domestic Plans				International Plans
	August 31,				August 31,
	2023		2022		2023		2022
Change in benefit obligation:
Benefit obligation at beginning of year	$	176.0	$	224.7	$	31.5	$	52.6
Service cost	3.8		4.4		0.8		0.4
Interest cost	7.4		5.3		1.6		0.9

Actuarial gains	(16.2)		(43.1)		(1.2)		(17.1)


Benefits paid	(11.2)		(15.3)		(1.9)		(2.1)
Other	—		—		3.8		(3.2)
Benefit obligation at end of year	159.8		176.0		34.6		31.5
Change in plan assets:
Fair value of plan assets at beginning of year	141.5		182.6		28.5		42.2
Actual return on plan assets	(1.3)		(33.6)		(5.2)		(11.6)
Employer contributions	3.7		7.8		7.9		3.0
Benefits paid	(11.2)		(15.3)		(1.9)		(2.1)
Other	—		—		2.8		(3.0)
Fair value of plan assets at end of year	132.7		141.5		32.1		28.5

Funded status at the end of year	$	(27.1)	$	(34.5)	$	(2.5)	$	(3.0)

Amounts recognized in the consolidated balance sheets consist of:
Non-current assets	$	10.1	$	7.6	$	2.3	$	0.4
Current liabilities	(3.4)		(3.9)		(0.2)		(0.2)
Non-current liabilities	(33.8)		(38.2)		(4.6)		(3.2)
Net amount recognized in consolidated balance sheets	$	(27.1)	$	(34.5)	$	(2.5)	$	(3.0)
Accumulated benefit obligation	$	158.9	$	175.3	$	31.9	$	31.3
Pre-tax amounts in accumulated other comprehensive loss:
Prior service cost	$	(0.1)	$	(2.7)	$	(0.1)	$	(0.1)
Net actuarial loss	(44.3)		(54.2)		(13.4)		(6.5)
Amounts in accumulated other comprehensive loss	$	(44.4)	$	(56.9)	$	(13.5)	$	(6.6)
Pensions plans in which benefit obligation exceeds plan assets:
Projected benefit obligation	$	37.2	$	42.1	$	5.6	$	3.4
Accumulated benefit obligation	36.3		41.4		3.5		2.3
Plan assets	—		—		0.8		—
Pensions plans in which plan assets exceed benefit obligation:
Projected benefit obligation	$	122.6	$	133.9	$	29.0	$	28.1
Accumulated benefit obligation	122.6		133.9		28.4		29.0
Plan assets	132.7		141.5		31.3		28.5

Service cost of net periodic pension cost is allocated between Cost of products sold, and may be capitalized into inventory as labor costs, and Selling, distribution, and administrative expenses in the Consolidated Statements of Comprehensive Income based on the function of the employee's services. All other components of net periodic pension cost are included within Miscellaneous (income) expense, net in the Consolidated Statements of Comprehensive Income. We utilize a corridor approach to amortize cumulative unrecognized actuarial gains or losses over either the average expected future service of active participants or average life expectancy of plan participants based on each plan’s composition. The corridor is determined as the greater of the excess of 10% of plan assets or the projected benefit obligation at each valuation date. Amounts related to prior service cost are amortized over the average remaining expected future service period for active participants in each plan.

Net periodic pension cost during the periods presented included the following components before tax (in millions):


	Domestic Plans						International Plans
	2023		2022		2021		2023		2022		2021
Service cost	$	3.8	$	4.4	$	4.6	$	0.8	$	0.4	$	0.3
Interest cost	7.4		5.3		5.3		1.6		0.9		0.9
Expected return on plan assets	(7.5)		(11.2)		(11.0)		(2.1)		(2.6)		(2.3)
Amortization of prior service cost	2.6		2.9		2.9		—		—		—

Settlement	—		0.4		3.9		—		—		—
Recognized actuarial loss	2.4		2.4		4.1		0.6		0.9		1.4
Net periodic pension cost	$	8.7	$	4.2	$	9.8	$	0.9	$	(0.4)	$	0.3

Weighted average assumptions used in computing the benefit obligation are as follows:


	Domestic Plans				International Plans
	2023		2022		2023		2022
Discount rate	5.1	%	4.4	%	5.9	%	4.9	%
Rate of compensation increase	5.0	%	5.0	%	3.5	%	3.5	%

Weighted average assumptions used in computing net periodic pension cost are as follows:


	Domestic Plans						International Plans
	2023		2022		2021		2023		2022		2021
Discount rate	4.4	%	2.4	%	2.2	%	4.9	%	1.9	%	1.9	%
Expected return on plan assets	5.5	%	6.3	%	6.8	%	6.4	%	6.4	%	6.5	%
Rate of compensation increase	5.0	%	5.0	%	5.0	%	3.5	%	3.4	%	3.4	%

It is our policy to adjust, on an annual basis, the discount rate used to determine the projected benefit obligation to approximate rates on high-quality, long-term obligations based on our estimated benefit payments available as of the measurement date. We use published yield curves to assist in the development of our discount rates. We estimate that a 100 basis point increase in the discount rate would reduce net periodic pension cost approximately $0.5 million for the domestic plans and $0.6 million for the international plans. The expected return on plan assets is derived primarily from a periodic study of long-term historical rates of return on the various asset classes included in our targeted pension plan asset allocation as well as future expectations. We estimate that each 100 basis point reduction in the expected return on plan assets would result in additional net periodic pension cost of $1.4 million and $0.3 million for domestic plans and international plans, respectively. We also evaluate the rate of compensation increase annually and adjust if necessary.

Our investment objective for domestic plan assets is to earn a rate of return sufficient to exceed the long-term growth of the plans’ liabilities without subjecting plan assets to undue risk. The plan assets are invested primarily in high quality debt and equity securities. We conduct a periodic strategic asset allocation study to form a basis for the allocation of pension assets between various asset categories. Specific allocation percentages are assigned to each asset category with minimum and maximum ranges established for each. The assets are then managed within these ranges. At August 31, 2023, the U.S. targeted asset allocation was 20% equity securities, 75% fixed income securities, and 5% real estate securities. Our investment objective for the international plan assets is also to add value by exceeding the long-term growth of the plans’ liabilities. At August 31, 2023, the international asset target allocation approximated 20% equity securities, 30% fixed income securities, and 50% multi-strategy investments.

Our pension plan asset allocation by asset category as of the dates presented is as follows:


	% of Plan Assets
	Domestic Plans				International Plans
	2023		2022		2023		2022
Equity securities	18.3	%	31.6	%	17.6	%	16.8	%
Fixed income securities	75.0	%	61.2	%	53.3	%	22.8	%
Multi-strategy investments	—	%	—	%	29.1	%	60.4	%
Real estate	6.7	%	7.2	%	—	%	—	%
Total	100.0	%	100.0	%	100.0	%	100.0	%

Our pension plan assets are stated at fair value based on quoted market prices in an active market, quoted redemption values, or estimates based on reasonable assumptions as of the most recent measurement period. See the Fair Value Measurements footnote for a description of the fair value guidance. No transfers between the levels of the fair value hierarchy occurred during the current fiscal period. In the event of a transfer in or out of a level within the fair value hierarchy, the transfers would be recognized on the date of occurrence. Certain pension assets valued at net asset value (“NAV”) per share as a practical expedient are excluded from the fair value hierarchy. Investments in pension plan assets as of August 31, 2023 are described in further detail below.

Short-term Fixed Income Investments

Short-term investments consist of money market funds, which are valued at the daily closing price as reported by the relevant fund (Level 1).

Mutual Funds

Mutual funds held by the domestic plans are open-end mutual funds that are registered with the Securities and Exchange Commission (“SEC”) and seek to either replicate or outperform a related index. These funds are required to publish their daily net asset value and to transact at that price. The mutual funds held by the domestic plans are deemed to be actively traded (Level 1).

Collective Trust

The collective trust seeks to outperform the overall small-cap stock market and is comprised primarily of small-cap equity securities with quoted prices in active markets for identical investments. The value of this fund is calculated on each business day based on its daily net asset value; however, the collective trust is not deemed to be actively traded (Level 2).

Fixed Income Investments

The fixed income investment seeks to maximize total return by investing primarily in a diversified portfolio of investment-grade fixed income securities, primarily publicly traded corporate bonds as well as U.S. government and municipal bonds. The investment is valued on each business day based on the values of the underlying holdings and is not actively traded (Level 2).

U.S. Treasury Investments

The domestic plans hold several fixed-income U.S. Treasury securities that are valued based on discounted future cash flows using rates currently available for debt of similar terms and maturity (Level 2)

Real Estate Fund

The real estate fund invests primarily in commercial real estate and includes mortgage loans that are backed by the associated property's investment objective. The fund seeks real estate returns, risk, and liquidity appropriate to a core fund. The fund also seeks to provide current income with the potential for long-term capital appreciation. This investment is valued based on the NAV per share, without further adjustment. The NAV, as provided by the fund's trustee, is used as a practical expedient to estimate fair value and is therefore excluded from the fair value

hierarchy. NAV is based on the fair value of the underlying investments. Investors may request to redeem all or any portion of their shares on a quarterly basis. Each investor must provide a written redemption request at least sixty days prior to the end of the quarter for which the request is to be effective. If insufficient funds are available to honor all redemption requests at any point in time, available funds will be allocated pro-rata based on the total number of shares held by each investor. All decisions regarding whether to honor redemption requests are made by the fund’s board of directors.

The following tables present the fair value of the domestic pension plan assets by major category as of the dates presented (in millions):


			Fair Value Measurements
	Fair Value as of		Quoted Market Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	August 31, 2023		(Level 1)		(Level 2)		(Level 3)
Assets included in the fair value hierarchy:
Fixed-income investments	$	58.2	$	—	$	58.2	$	—
US Treasury investments	36.9		—		36.9		—
Mutual funds:
Domestic large cap equity fund	13.0		13.0		—		—
Foreign equity fund	6.5		6.5		—		—
Collective trust: Domestic small cap equities	4.8		—		4.8		—
Short-term fixed income investments	4.4		4.4		—		—
Total assets in the fair value hierarchy	123.8
Assets calculated at net asset value:

Real estate fund	8.9
Total assets at net asset value	8.9
Total assets at fair value	$	132.7


			Fair Value Measurements
	Fair Value as of		Quoted Market Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	August 31, 2022		(Level 1)		(Level 2)		(Level 3)
Assets included in the fair value hierarchy:
Mutual funds:
Domestic large cap equity fund	$	23.7	$	23.7	$	—	$	—
Foreign equity fund	12.6		12.6		—		—
Collective trust: Domestic small cap equities	8.4		—		8.4		—
Short-term fixed income investments	2.1		2.1		—		—
Total assets in the fair value hierarchy	46.8
Assets calculated at net asset value:
Fixed-income investments	84.5
Real estate fund	10.2
Total assets at net asset value	94.7
Total assets at fair value	$	141.5

International Plan Investments

The international plans' assets consist primarily of funds invested in equity securities, multi-strategy investments, and fixed income investments. These securities are calculated using the values of the underlying holdings (i.e. significant observable inputs) but do not have quoted prices in active markets (Level 2). The short-term fixed income investments represents cash and cash equivalents held by the funds at fiscal year end (Level 1). The following tables present the fair value of the international pension plan assets by major category as of the dates presented (in millions):


			Fair Value Measurements
	Fair Value as of		Quoted Market Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	August 31, 2023		(Level 1)		(Level 2)		(Level 3)
Assets included in the fair value hierarchy:
Equity securities	$	5.2	$	—	$	5.2	$	—
Short-term fixed income investments	7.1		7.1		—		—

Multi-strategy investments	11.0		—		11.0		—
Fixed-income investments	8.8		—		8.8		—
Total assets at fair value	$	32.1


			Fair Value Measurements
	Fair Value as of		Quoted Market Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	August 31, 2022		(Level 1)		(Level 2)		(Level 3)
Assets included in the fair value hierarchy:
Equity securities	$	4.8	$	—	$	4.8	$	—
Short-term fixed income investments	0.3		0.3		—		—
Multi-strategy investments	17.2		—		17.2		—
Fixed-income investments	6.2		—		6.2		—




Total assets at fair value	$	28.5

We do not expect to contribute to the domestic qualified plans in fiscal 2024 based on the funded status of the plans as well as current legal minimum funding requirements. We expect to contribute approximately $0.3 million during fiscal 2024 to our international defined benefit plans. These amounts are based on the total contributions required during fiscal 2024 to satisfy current legal minimum funding requirements for qualified plans and estimated benefit payments for non-qualified plans.

Benefit payments are made primarily from funded benefit plan trusts. Benefit payments are expected to be paid as follows during the years ending August 31 (in millions):


	Domestic Plans		International Plans
2024	$	11.7	$	1.7
2025	12.5		1.8
2026	14.2		1.9
2027	13.2		2.1
2028	12.4		2.3
2029-2033	62.3		15.0

Multi-employer Pension Plans

We have contributed to two multi-employer defined benefit pension plans under the terms of collective-bargaining agreements that cover certain of our union-represented employees. The risks of participating in these multi-employer plans are different from single-employer plans in the following aspects:

•Assets contributed to the multi-employer plan by one employer may be used to provide benefits to employees of other participating employers.

•If a participating employer stops contributing to the plan, the unfunded obligations of the plan may be shared by the remaining participating employers.

•If a participating employer chooses to stop participating in some of its multi-employer plans, the employer may be required to pay those plans an amount based on the underfunded status of the plan, referred to as a withdrawal liability.

Our contributions to these plans were $0.5 million for the years ended August 31, 2023 and 2022, and $0.6 million for the year ended August 31, 2021.

Defined Contribution Plans

We have defined contribution plans to which both employees and we make contributions. Employer matching amounts are allocated in accordance with the participants’ investment elections for elective deferrals and totaled $11.1 million, $10.5 million, and $8.4 million for the years ended August 31, 2023, 2022, and 2021, respectively. At August 31, 2023, assets of the domestic defined contribution plans included shares of our common stock with a market value of approximately $6.9 million, which represented approximately 1.5% of the total fair market value of the assets in our domestic defined contribution plans.

The entire disclosure for retirement benefits.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (q)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (l)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//715/tableOfContent

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (o)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (p)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480126/715-20-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480266/715-60-50-3

Fair Value Measurements - Summary of Information Related to Nonrecurring Fair Value Measurements (Details) - USD ($) $ in Millions	Aug. 31, 2023	Aug. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Right of use operating lease assets	$ 84.1	$ 74.9
Fair value measured on nonrecurring basis \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Indefinite-lived trade names	46.5
Right of use operating lease assets	3.4
Assets in fair value hierarchy	$ 49.9

Description of Business and Basis of Presentation	12 Months Ended
Description of Business and Basis of Presentation	Aug. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	Note 1 — Description of Business and Basis of Presentation Acuity Brands, Inc. (referred to herein as “we,” “our,” “us,” the “Company,” or similar references) is a market-leading industrial technology company. We use technology to solve problems in spaces and light. Through our two business segments, Acuity Brands Lighting and Lighting Controls (“ABL”) and the Intelligent Spaces Group (“ISG”), we design, manufacture, and bring to market products and services that make a valuable difference in people's lives. We achieve growth through the development of innovative new products and services, including lighting, lighting controls, building management systems, and location-aware applications. ABL Segment Our ABL strategy is to increase product vitality, improve service levels, use technology to improve and differentiate both our products and our services, and drive productivity. ABL's portfolio of lighting solutions includes commercial, architectural, and specialty lighting in addition to lighting controls and components that can be combined to create integrated lighting controls systems. We offer devices such as luminaires that predominantly utilize light emitting diode (“LED”) technology designed to optimize energy efficiency and comfort for various indoor and outdoor applications. ABL's portfolio of products includes but is not limited to the following brands: A-LightTM, AculuxTM, American Electric Lighting®, CycloneTM, Dark to Light®, eldoLED®, Eureka®, Gotham®, Healthcare Lighting®, Holophane®, Hydrel®, IndyTM, IOTA®, Juno®, Lithonia Lighting®, Luminaire LEDTM, Luminis®, Mark Architectural LightingTM, nLight®, OPTOTRONIC®, Peerless®, RELOC® Wiring Solutions, and Sensor SwitchTM. Principal customers of ABL include electrical distributors, retail home improvement centers, electric utilities, national accounts, original equipment manufacturer (“OEM”) customers, digital retailers, lighting showrooms, and energy service companies. Our customers are located in North America and select international markets that serve new construction, renovation and retrofit, and maintenance and repair applications. ABL's lighting and lighting controls solutions are sold primarily through a network of independent sales agencies that cover specific geographic areas and market channels, by internal sales representatives, through consumer retail channels, directly to large corporate accounts, and directly to OEM customers. Products are delivered directly from our manufacturing facilities or through a network of distribution centers, regional warehouses, and commercial warehouses using both common carriers and an internally-managed truck fleet. ISG Segment Our ISG strategy is to make spaces smarter, safer, and greener by connecting the edge to the cloud. ISG offers building management solutions and building management software. Our building management solutions include products for controlling heating, ventilation, air conditioning (“HVAC”); lighting; shades; refrigeration; and building access that deliver end-to-end optimization of those building systems. Our intelligent building software enhances the occupant experience, improves building system management, and automates labor intensive tasks while delivering operational energy efficiency and cost reductions. Through a connected and converged building system architecture, our software delivers different applications, allows clients to upgrade over time with natural refresh cycles, and deploys new capabilities. Customers of ISG primarily include system integrators as well as retail stores, airports, and enterprise campuses throughout North America and select international locations. ISG products and solutions are marketed under multiple brand names, including but not limited, to Atrius®, Distech Controls®, and KE2 Therm Solutions®. Basis of Presentation We have 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, Inc. and its wholly-owned subsidiaries.

Debt and Lines of Credit - Lines of Credit (Details) $ in Millions	Jun. 30, 2022 USD ($)	Aug. 31, 2023 USD ($)	Aug. 31, 2022 USD ($)
Line of Credit Facility [Line Items]
Short-term borrowings under credit facility		$ 0.0	$ 18.0
Credit Facility \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Short-term borrowings under credit facility		0.0	$ 18.0
Lines of Credit \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Leverage ratio	3.75
Maximum leverage ratio	4.25
Lines of Credit \| Credit Facility \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving credit facility	$ 600.0
Term of facility	5 years
Additional borrowing capacity under revolving credit facility	$ 400.0
Outstanding letters of credit		3.8
Additional borrowing capacity under revolving credit facility		$ 596.2
Lines of Credit \| Credit Facility \| Revolving Credit Facility \| Minimum
Line of Credit Facility [Line Items]
Commitment fees rate	0.075%
Lines of Credit \| Credit Facility \| Revolving Credit Facility \| Maximum
Line of Credit Facility [Line Items]
Commitment fees rate	0.175%
Lines of Credit \| Credit Facility \| Revolving Credit Facility \| Base Rate \| Minimum
Line of Credit Facility [Line Items]
Applicable margins as determined by leverage ratio	0.80%
Lines of Credit \| Credit Facility \| Revolving Credit Facility \| Base Rate \| Maximum
Line of Credit Facility [Line Items]
Applicable margins as determined by leverage ratio	1.20%
Lines of Credit \| Credit Facility \| Revolving Credit Facility \| Floating Rate \| Minimum
Line of Credit Facility [Line Items]
Applicable margins as determined by leverage ratio	0.00%
Lines of Credit \| Credit Facility \| Revolving Credit Facility \| Floating Rate \| Maximum
Line of Credit Facility [Line Items]
Applicable margins as determined by leverage ratio	0.20%

Debt and Lines of Credit

12 Months Ended

Aug. 31, 2023

Debt Disclosure [Abstract]

Debt and Lines of Credit

Our debt is carried at the outstanding balance net of any related unamortized discounts and deferred costs and consists of the following as of the dates presented (in millions):


	August 31,
	2023		2022
Senior unsecured public notes due December 2030, principal	$	500.0	$	500.0
Senior unsecured public notes due December 2030, unamortized discount and deferred costs	(4.4)		(5.0)
Short-term borrowings under credit facility	—		18.0


Total debt	$	495.6	$	513.0

Our next scheduled future principal payment of long-term debt is $500.0 million due upon the maturity of the senior unsecured notes in December 2030.

Long-term Debt

On November 10, 2020, Acuity Brands Lighting, Inc. issued $500.0 million aggregate principal amount of 2.150% senior unsecured notes due December 15, 2030 (the “Unsecured Notes”) at a price equal to 99.737% of their face value. Interest on the Unsecured Notes is paid semi-annually in arrears on June 15 and December 15 of each year. We recorded $4.8 million of deferred issuance costs related to the Unsecured Notes as a direct deduction from the face amount of the Unsecured Notes. These issuance costs are amortized over the 10-year term of the Unsecured Notes.

The Unsecured Notes are fully and unconditionally guaranteed on a senior unsecured basis by Acuity Brands, Inc. and ABL IP Holding LLC, a wholly-owned subsidiary of Acuity Brands, Inc.

Lines of Credit

On June 30, 2022, we entered into a credit agreement (the “Credit Agreement”) with a syndicate of banks that provides us with a $600.0 million five-year unsecured revolving credit facility (the “Revolving Credit Facility”) with the ability to request an additional $400.0 million of borrowing capacity. The Revolving Credit Facility replaced our previous credit agreement set to expire on June 30, 2022, the details of which can be found in the fiscal 2021 Debt and Lines of Credit footnote of the Notes to Consolidated Footnotes within our 2021 Annual Report on Form 10-K filed with the Securities and Exchange Commission on October 27, 2021.

The Revolving Credit Facility uses the Secured Overnight Financing Rate (“SOFR”) as the applicable benchmark for U.S. Dollar borrowings and an applicable benchmark rate for non-U.S. Dollar borrowings as defined in the Credit Agreement. The applicable margin pricing grid mechanics are based on the better of our public credit ratings or our net leverage ratio and range from 0.80% to 1.20% for base rate borrowings and from 0.00% to 0.20% for floating rate advances. We are also required to pay certain fees in connection with the Credit Agreement, including administrative service fees and annual facility fees, which range from 0.075% to 0.175% of the aggregate $600.0 million remaining commitment of the lenders under the Credit Agreement.

The Credit Agreement contains a leverage ratio covenant (“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 Maximum Leverage Ratio of 3.75 (subject to temporary increase to 4.25 in the event of a significant acquisition) and allows netting of all unrestricted cash and cash equivalents against debt.

We had no short-term borrowings at August 31, 2023 and $18.0 million in short-term borrowings at August 31, 2022 outstanding under the Revolving Credit Facility.

We were in compliance with all financial covenants under the Credit Agreement as of August 31, 2023. At August 31, 2023, we had additional borrowing capacity under the Credit Agreement of $596.2 million under the most restrictive covenant in effect at the time, which represents the full amount of the Revolving Credit Facility less outstanding letters of credit of $3.8 million issued under the Revolving Credit Facility, primarily for securing collateral requirements under our casualty insurance premiums.

None of our existing debt instruments include provisions that would require an acceleration of repayments based solely on changes in our credit ratings. Borrowings and repayments on our Revolving Credit Facility with terms of three months or less are reported on a net basis on our Consolidated Statements of Cash Flows.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Revenue from Contract with Customer [Abstract]

Special Charges - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Restructuring and Related Activities [Abstract]
Special charges	$ 26.9	$ 0.0	$ 3.3
Remaining accruals	$ 5.2

Revenue Recognition - Contract Balances (Details) - USD ($) $ in Millions	Aug. 31, 2023	Aug. 31, 2022
Revenue from Contract with Customer [Abstract]
Current deferred revenues	$ 14.1	$ 11.4
Non-current deferred revenues	$ 47.6	$ 53.1

Revenue Recognition

12 Months Ended

Aug. 31, 2023

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 rebates, sales incentives, product returns, and discounts to customers. We allocate the expected consideration to be collected to each distinct performance obligation identified in a sale based on its standalone selling price. 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. In some instances, such as for software as a service agreements, payment is made prior to the transfer of control of goods and services. Payment terms generally do not extend beyond one year, and we apply the significant financing component practical expedient within ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”). Accruals 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 generally allow for the return of certain products within four months of the date of shipment. We also provide for limited product return rights to certain distributors and other customers, primarily for slow moving or damaged items subject to certain defined criteria. The limited product return rights generally allow customers to return resalable products purchased within a specified time period and subject to certain limitations, including, at times, when accompanied by a replacement order of equal or greater value. At the time revenue is recognized, we record a refund liability for the expected value of future returns primarily based on historical experience, specific notification of pending returns, or contractual terms with the respective customers. Although historical product returns generally have been within expectations, there can be no assurance that future product returns will not exceed historical amounts. A significant increase in product returns could have a material adverse impact on our operating results in future periods.

Refund liabilities recorded under ASC 606 relating to rights of return, cash discounts, and other miscellaneous credits to customers were $25.6 million and $28.0 million as of August 31, 2023 and 2022, respectively, and are reflected within Other accrued liabilities on the Consolidated Balance Sheets. Additionally, we recorded 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 $4.9 million and $3.7 million as of August 31, 2023 and 2022, respectively.

We also maintain one-time and ongoing promotions with our customers, which may include rebate, sales incentive, marketing, and trade-promotion programs with certain customers that require us to estimate and accrue the expected costs of such programs. These arrangements may include volume rebate incentives, cooperative marketing programs, merchandising of our products, introductory marketing funds for new products, and other trade-promotion activities conducted by the customer. Costs associated with these programs are generally estimated based on the most likely amount expected to be settled based on the context of the individual contract and are reflected within the Consolidated Statements of Comprehensive Income in accordance with ASC 606, which in most instances requires such costs to be recorded as reductions of revenue. Amounts due to our customers

associated with these programs totaled $31.6 million and $40.7 million as of August 31, 2023 and 2022, respectively, and are reflected within Other accrued liabilities on the Consolidated Balance Sheets.

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

Nature of Goods and Services

Products

Substantially all of the revenues for the periods presented were generated from short-term contracts with our customers to deliver only tangible goods such as luminaires, lighting controls, and controls for various building systems. We record revenue from these contracts when the customer obtains control of those goods. For sales designated free on board shipping point, control is transferred and revenue is recognized at the time of shipment. For sales designated free on board destination, customers take control and revenue is recognized when a product is delivered to the customer’s delivery site.

Professional Services

We collect fees associated with training, installation, and technical support services, primarily related to the set up of our lighting and building technology solutions. We recognize revenue for these one-time services at the time the service is performed. We also sell certain service-type warranties that extend coverages for products beyond their base warranties. We account for service-type warranties as distinct performance obligations and recognize revenue for these contracts ratably over the life of the additional warranty period. We allocate transaction price to our service-type warranties largely based on expectations of cost plus margin based on our estimate of future claims. These estimates are subject to a higher level of estimation uncertainty than other estimates, as we have less experience in costs in the extended 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 for customers 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 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 consist of the following as of the dates presented (in millions):


	August 31,
	2023		2022
Current deferred revenues	$	14.1	$	11.4
Non-current deferred revenues	47.6		53.1

Current deferred revenues primarily consist of software licenses as well as professional service and service-type warranty fees collected prior to performing the related service and are included within Other current liabilities on the Consolidated Balance Sheets. These services are expected to be performed within one year. Revenue earned from beginning contract balances during the year ended August 31, 2023 approximated the current deferred revenue balance at August 31, 2022.

Non-current deferred revenues primarily consist of long-term service-type warranties, which are typically recognized ratably as revenue between five years and ten years from the date of sale, and are included within Other long-term liabilities on the Consolidated Balance Sheets.

Unsatisfied performance obligations that do not represent contract liabilities are expected to be satisfied within one year from August 31, 2023 and consist primarily of orders for physical goods that have not yet been shipped.

Disaggregated Revenues

Our ABL segment's lighting and lighting controls are sold primarily through independent sales agents who cover specific geographic areas and market channels, by internal sales representatives, through consumer retail channels, directly to large corporate accounts, and through other distribution methods, including directly to OEM customers. ISG sells predominantly to system integrators. The following table shows revenue from contracts with customers by sales channel and reconciles to our segment information for the periods presented (in millions):


	Year Ended August 31,
	2023		2022		2021
ABL:
Independent sales network	$	2,671.0	$	2,714.1	$	2,400.5
Direct sales network	414.4		384.2		358.1
Retail sales	194.9		178.3		181.5
Corporate accounts	200.3		222.7		168.7
OEM and other	242.2		310.8		178.5
Total ABL	3,722.8		3,810.1		3,287.3
ISG	252.7		216.1		190.0
Eliminations	(23.3)		(20.1)		(16.3)
Total	$	3,952.2	$	4,006.1	$	3,461.0

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

Schedule of Future Undiscounted Payments

Leases (Tables)

12 Months Ended

Aug. 31, 2023

Leases [Abstract]

The following table presents the future undiscounted payments due on our operating lease liabilities as well as a reconciliation of those payments to our operating lease liabilities recorded as of the date presented (in millions):


Fiscal year	August 31, 2023
2024	$	22.5
2025	20.9
2026	16.5
2027	12.5
2028	8.9
Thereafter	24.0
Total undiscounted lease payments	105.3
Less: Discount due to interest	(10.1)
Present value of lease liabilities	$	95.2

Schedule of Components of Total Lease Costs

The components of total lease cost were as follows during the periods presented (in millions):


	Year Ended August 31,
	2023		2022		2021
Operating lease cost	$	22.3	$	18.8	$	18.3
Variable lease cost	4.2		2.7		2.0
Short-term lease cost	3.6		4.3		2.2
Total lease cost	$	30.1	$	25.8	$	22.5

Fair Value Measurements - Schedule of Carrying Value and Estimated Fair Value of Financial Instruments (Details) - Fair value measured on recurring basis - USD ($) $ in Millions	Aug. 31, 2023	Aug. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	$ 405.5	$ 235.1
Level 1,2 and 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	397.9	223.2
Other financial instruments	0.4	0.0
Assets in fair value hierarchy	398.3	223.2
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	397.9	223.2
Other financial instruments	0.0	0.0
Assets in fair value hierarchy	397.9	223.2
Total assets at fair value	397.9	223.2
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0.0	0.0
Other financial instruments	0.4	0.0
Assets in fair value hierarchy	0.4	0.0
Total assets at fair value	0.4	0.0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0.0	0.0
Other financial instruments	0.0	0.0
Assets in fair value hierarchy	0.0	0.0
Total assets at fair value	0.0	0.0
Other investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments	$ 7.2	$ 11.9

Fair Value Measurements

12 Months Ended

Aug. 31, 2023

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 Topic 820, Fair Value Measurement (“ASC 820”), establishes a three-level hierarchy that distinguishes between market participant assumptions based on (i) unadjusted quoted prices for identical assets or liabilities in an active market (Level 1), (ii) quoted prices in markets that are not active or inputs that are observable either directly or indirectly for substantially the full term of the asset or liability (Level 2), and (iii) prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement (Level 3).

We utilize valuation methodologies to determine the fair values of our financial assets and liabilities in conformity with the concepts of “exit price” and the fair value hierarchy as prescribed in ASC 820. All valuation methods and assumptions are validated at least quarterly to ensure the accuracy and relevance of the fair values. There were no material changes to the valuation methods or assumptions used to determine fair values during the current period. 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. We may from time to time be required to remeasure the carrying value of certain assets and liabilities to fair value on a nonrecurring basis. Such adjustments typically arise if we determine that certain of our assets are impaired.

Financial Instruments Recorded at Fair Value

The following table summarizes balances and the fair value hierarchy level of our financial instruments recorded at fair value on a recurring basis as of the dates presented (in millions):


	August 31,
	2023								2022
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total

Cash and cash equivalents	$	397.9	$	—	$	—	$	397.9	$	223.2	$	—	$	—	$	223.2
Other financial instruments	—		0.4		—		0.4		—		—		—		—
Assets in fair value hierarchy	397.9		0.4		—		398.3		223.2		—		—		223.2
Other investments(1)							7.2								11.9
Total assets at fair value	$	397.9	$	0.4	$	—	$	405.5	$	223.2	$	—	$	—	$	235.1

____________________________________

(1)Includes strategic investments in privately-held entities over which we do not exercise significant influence or control without readily determinable fair values. Amounts are recorded at cost less any impairment adjusted for observable price changes, if any.

During the second quarter of fiscal 2023, we received cash for the cancellation of a strategic investment, whose underlying company was acquired by a third party. We also received preferred equity in the third party with a cost basis of $2.5 million that is accounted for under ASC 320, Investments—Debt Securities using discounted cash flows based on rates of similar instruments (Level 2). During the year ended August 31, 2023, we recorded an allowance for credit loss for this investment for its full cost basis. This credit loss reflected a decline in the underlying company's financial condition and long-term prospects, which included a suspension of dividend payments owed to us as well as a significant market decline in its publicly traded securities, including similar preferred equities. This impairment charge is reflected in Miscellaneous expense (income), net for the year ended August 31, 2023 within our Consolidated Statements of Comprehensive Income. Accrued interest related to this investment was not material to our financial statements. We had no credit losses on our investments at August 31, 2022.

Nonrecurring Fair Value Measurements

The following table summarizes information related to our nonrecurring fair value measurements during the current fiscal year (in millions):

Measurement Date

Fair Value Hierarchy Level

Fair Value

Indefinite-lived trade names

June 1, 2023

Level 3

46.5

Right of use operating lease asset group

November 30, 2022

Level 3

3.4

Total assets at nonrecurring fair value

49.9

Indefinite-Lived Trade Names

We performed an evaluation of the fair values of our indefinite-lived trade names as of June 1, 2023. Our analyses indicated that the carrying values of six of our trade names exceeded their fair values due primarily to expectations of the associated brands' future performance compared to original expectations at acquisition date as well as increases in overall discount rates. The total fair value of these trade names at June 1, 2023 totaled $46.5 million, which resulted in an impairment charge of $14.0 million. This charge is reflected within Special Charges on the Consolidated Statements of Comprehensive Income and relates to our ABL segment. We also determined the remaining value for five of these indefinite-lived trade names no longer have indefinite lives. These trade names were classified as definite-lived as of June 1, 2023 and will be amortized over 15 years. The impairment analyses of the other seven indefinite-lived intangible assets indicated that their fair values exceeded their carrying values.

We utilized significant assumptions to estimate the fair values of our indefinite-lived trade names using a fair value model based on discounted future cash flows (“fair value model”) in accordance with ASC 820. Future cash flows associated with our indefinite-lived trade names were calculated by multiplying a theoretical royalty rate a willing

third party would pay for use of the particular trade name by estimated future net sales attributable to the relevant trade name. The present value of the resulting after-tax cash flows reflected our estimate of the fair value of each trade name. This fair value model required us to make several significant assumptions, including specific estimated future net sales (including short and long-term growth rates), a royalty rate, and a discount rate for each trade name.

Future net sales and short-term growth rates are estimated for trade names based on management’s financial forecasts, which consider key business drivers, such as specific revenue growth initiatives, market share changes, expected growth in our addressable market, and general economic factors, such as macroeconomic conditions, credit availability, and interest rates. Our expected revenues as of June 1, 2023 were based on our fiscal 2023 and 2024 projections as well as recent third-party lighting, controls, and building technology solutions market growth estimates through 2028. We also included revenue growth estimates based on current initiatives expected to help improve performance, as appropriate. The long-term growth rate used in determining terminal value was estimated at 2.5% and was based primarily on our understanding of projections for expected long-term growth for our addressable market and historical long-term performance.

The theoretical royalty rate was estimated primarily using management’s assumptions regarding the amount a willing third party would pay to use the particular trade name and was compared with market information for similar intellectual property within and outside of the industry. During fiscal 2023, estimated theoretical royalty rates ranged between 1% and 3%. We based discount rates on the Capital Asset Pricing Model, which considers a current risk-free interest rate, beta, market risk premium, and size premium appropriate for each intangible. We utilized a range of estimated discount rates between 11% and 13% as of June 1, 2023.

Any reasonably likely change in the assumptions used in the analyses for our trade names, including revenue growth rates, royalty rates, and discount rates, would not be material to our financial condition or results of operations.

Right of Use Operating Lease Asset Group

In connection with our sale of our Sunoptics prismatic skylights business in November 2022, we retained certain assets, primarily right of use lease assets, that we did not plan to continue using in our manufacturing operations. Accordingly, we assessed the recoverability of these assets using an undiscounted cash flow model and concluded that the carrying values of the assets were not fully recoverable, which triggered an impairment test for these assets. Our impairment test indicated that the fair value of the assets totaled $3.4 million, which resulted in an impairment charge of $4.3 million. This amount is included within Special charges on the Consolidated Statements of Comprehensive Income.

The recoverability and impairment test required significant assumptions including estimated future cash flows, the identification of assets within the asset group, and the determination of appropriate discount rates. Future cash flows were largely based both on third-party market date for sublease rental rates as well as our historic experience in subleasing properties. The discount rate was calculated using a methodology consistent with our incremental borrowing rate for leases initiated at that time and approximated the high end of our weighted average discount rate for operating leases described in the Leases footnote of the Notes to Consolidated Financial Statements.

Disclosures of Fair Value of Financial Instruments

Disclosures of fair value information about financial instruments, for which it is practicable to estimate that value, are required each reporting period in addition to any financial instruments carried at fair value on a recurring basis as prescribed by ASC Topic 825, Financial Instruments (“ASC 825”). In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows.

Fair value for our outstanding debt obligations is estimated based on discounted future cash flows using rates currently available for debt of similar terms and maturity (Level 2). Our 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. The estimated fair value of our senior unsecured public notes was $401.4 million and $399.2 million as of August 31, 2023 and 2022, respectively.

We had no short-term borrowings and $18.0 million of short-term borrowings outstanding under our revolving credit facility as of August 31, 2023 and 2022, respectively. These borrowings are variable-rate instruments that reset on a

frequent short-term basis; therefore, we estimate that any outstanding carrying values of these instruments, which are equal to their face amounts, approximate their fair values. See Debt and Lines of Credit footnote for further details on our outstanding borrowings.

ASC 825 excludes certain financial instruments and all nonfinancial instruments from its disclosure requirements. Accordingly, the aggregate fair value amounts presented do not represent the underlying value to us. In many cases, the fair value estimates cannot be substantiated by comparison to independent markets, nor can the disclosed value be realized in immediate settlement of the instruments. In evaluating our management of liquidity and other risks, the fair values of all assets and liabilities should be taken into consideration, not only those presented above.

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.

Audit Information	12 Months Ended
Audit Information	Aug. 31, 2023
Audit Information [Abstract]
Auditor Firm ID	42
Auditor Name	Ernst & Young LLP
Auditor Location	Atlanta, Georgia

Income Taxes

12 Months Ended

Aug. 31, 2023

Income Tax Disclosure [Abstract]

Income Taxes

We account for income taxes using the asset and liability approach as prescribed by ASC Topic 740, Income Taxes (“ASC 740”). This approach requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Using the enacted tax rates in effect for the year in which the differences are expected to reverse, deferred tax liabilities and assets are determined based on the differences between the financial reporting and the tax basis of an asset or liability.

On August 16, 2022, the Inflation Reduction Act (“IRA”) was signed into law in the United States. Among other provisions, the IRA includes a 15% corporate alternative minimum tax rate applicable for our fiscal 2024 taxable year as well as a 1% federal excise tax on corporate stock repurchases made after December 31, 2022, which we account for as an increase to the cost basis of our share repurchases. The IRA has not had, and we do not expect it to have, a material impact on our financial condition, results of operations, or cash flows.

Internal Revenue Code (“IRC”) Section 174 was enacted as part of the Tax Cuts and Jobs Act of 2017 (“TCJA”). IRC Section 174, which became effective for us during fiscal 2023, requires us to capitalize research and development expenditures and amortize them on our U.S. tax return over five or fifteen years, depending on where research is conducted. The year over year change in both our provision for current federal taxes and provision for (benefit from) deferred taxes relates principally to the application of IRC Section 174.

The provision for income taxes consists of the following components during the periods presented (in millions):


	Year Ended August 31,
	2023		2022		2021
Provision for current federal taxes	$	105.8	$	67.6	$	65.4
Provision for current state taxes	15.7		16.3		12.8
Provision for current foreign taxes	27.0		25.4		14.4
(Benefit from) provision for deferred taxes	(47.8)		0.6		(2.7)
Total provision for income taxes	$	100.7	$	109.9	$	89.9

The following table reconciles the provision at the federal statutory rate to the total provision for income taxes during the periods presented (in millions):


	Year Ended August 31,
	2023		2022		2021
Federal income tax computed at statutory rate	$	93.8	$	103.7	$	83.2
State income tax, net of federal income tax benefit	11.4		13.5		10.7
Federal permanent differences	2.2		(4.3)		0.6
Foreign permanent differences and rate differential	4.4		4.3		2.4
Research and development tax credits	(8.3)		(7.6)		(7.6)
Unrecognized tax benefits	1.9		2.1		0.7
Other, net	(4.7)		(1.8)		(0.1)
Total provision for income taxes	$	100.7	$	109.9	$	89.9

Components of the net deferred income tax liabilities as of the dates presented include (in millions):


	August 31,
	2023		2022
Deferred income tax liabilities:
Depreciation	$	(21.5)	$	(18.6)
Goodwill and intangibles	(151.2)		(154.2)
Operating lease right of use assets	(19.8)		(18.3)
Other liabilities	(3.4)		(7.4)
Total deferred income tax liabilities	(195.9)		(198.5)
Deferred income tax assets:
Self-insurance	1.7		1.6
Pension	5.9		7.1
Deferred compensation	23.1		22.2
Net operating losses	6.2		5.8
Other accruals not yet deductible	43.4		42.9
Operating lease liabilities	22.6		20.3
Capitalized research and development	41.5		—
Other assets	15.4		9.3
Total deferred income tax assets	159.8		109.2
Valuation allowance	(19.9)		(11.5)
Net deferred income tax liabilities	$	(56.0)	$	(100.8)

As of August 31, 2023, the estimated undistributed earnings from foreign subsidiaries was $255.8 million. We have recorded a deferred income tax liability of $0.7 million for certain foreign withholding taxes and U.S. taxes related to foreign earnings for which we do not assert indefinite reinvestment. With respect to unremitted earnings and original investments in foreign subsidiaries where we are continuing to assert indefinite reinvestment, any future remittances could be subject to additional foreign withholding taxes, U.S. state taxes, and certain tax impacts relating to foreign currency exchange effects. It is not practicable to estimate the amount of any unrecognized tax effects on these reinvested earnings and original investments in foreign subsidiaries. We 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.

At August 31, 2023, we had federal tax credit carryforwards of approximately $8.3 million that begin to expire in 2029, and state tax credit carryforwards of approximately $0.9 million that begin to expire in 2027. Approximately $7.6 million of the total $8.3 million in federal tax credit carryforwards are subject to a full valuation allowance as we do not expect to realize any future tax benefit. At August 31, 2023, we had federal net operating loss carryforwards of $14.4 million that begin to expire in 2029, state net operating loss carryforwards of $47.1 million that begin to expire in 2024, and foreign net operating loss carryforwards of $7.8 million that begin to expire in 2028.

The gross amount of unrecognized tax benefits as of August 31, 2023 and 2022 totaled $20.1 million and $19.5 million, respectively, which includes $20.1 million and $18.8 million, respectively, of net unrecognized tax benefits that, if recognized, would affect the annual effective tax rate. We recognize potential interest and penalties related to unrecognized tax benefits as a component of income tax expense; such accrued interest and penalties are not material. With few exceptions, we are no longer subject to United States federal, state, and local income tax examinations for years ended before 2018 or for foreign income tax examinations before 2018. We do not anticipate unrecognized tax benefits will significantly increase or decrease within the next 12 months.

The following table reconciles the change in the unrecognized income tax benefit (reported in Other long-term liabilities on the Consolidated Balance Sheets) during the periods presented (in millions):


	Year Ended August 31,
	2023		2022		2021
Unrecognized tax benefits balance at beginning of year	$	19.5	$	17.7	$	17.2
Additions based on tax positions related to the current year	4.3		3.5		5.2
Additions for tax positions of prior years	1.4		0.1		0.1
Reductions for tax positions of prior years	(1.7)		(0.2)		(0.1)
Reductions due to settlements	(0.5)		—		(4.6)
Reductions due to lapse of statute of limitations	(2.9)		(1.6)		(0.1)
Unrecognized tax benefits balance at end of year	$	20.1	$	19.5	$	17.7

Total accrued interest was $3.3 million, $2.1 million, and $2.0 million as of August 31, 2023, 2022, and 2021, respectively. There were no accruals related to income tax penalties during fiscal 2023. Interest, net of tax benefits, and penalties are included in Income tax expense within the Consolidated Statements of Comprehensive Income. We are routinely under audit from various tax jurisdictions. We do not currently anticipate material audit assessments.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

Restructuring and Related Activities [Abstract]

Special Charges (Tables)

12 Months Ended

Aug. 31, 2023

Schedule of Details of Special Charges Incurred

The details of the special charges during the periods presented are summarized as follows (in millions):


	Year Ended August 31,
	2023		2021
Trade name impairment charges	$	14.0	$	—
Severance and employee-related costs	7.7		1.7
Operating lease asset group impairment charge	4.3		—
Other restructuring costs	0.9		1.6
Total special charges	$	26.9	$	3.3

Pension and Defined Contribution Plans - Narrative (Details) $ in Millions	12 Months Ended
	Aug. 31, 2023 USD ($) multiemployer_plan	Aug. 31, 2022 USD ($)	Aug. 31, 2021 USD ($)
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Percentage of plan assets (percent)	10.00%
Number of multi-employer plans \| multiemployer_plan	2
Contributions to multi-employer plans	$ 0.5	$ 0.5	$ 0.6
Defined Contribution Plan
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, cost recognized	11.1	$ 10.5	$ 8.4
Common stock included in defined contribution plan, market value	$ 6.9
Common stock included in defined contribution plan as percentage of total fair value of assets in plan	1.50%
Domestic Plans \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Reduction in net periodic pension cost per 100 basis point increase in benefit obligation discount rate	$ 0.5
Additional net periodic pension cost per 100 basis point decrease in expected return on plan assets rate	1.4
Employer expected contribution to defined benefit plans in next fiscal year	$ 0.0
Domestic Plans \| Pension Plan \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Targeted asset allocation, percentage	20.00%
Domestic Plans \| Pension Plan \| Fixed income securities
Defined Benefit Plan Disclosure [Line Items]
Targeted asset allocation, percentage	75.00%
Domestic Plans \| Pension Plan \| Real estate
Defined Benefit Plan Disclosure [Line Items]
Targeted asset allocation, percentage	5.00%
International Plans \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Reduction in net periodic pension cost per 100 basis point increase in benefit obligation discount rate	$ 0.6
Additional net periodic pension cost per 100 basis point decrease in expected return on plan assets rate	0.3
Employer expected contribution to defined benefit plans in next fiscal year	$ 0.3
International Plans \| Pension Plan \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Targeted asset allocation, percentage	20.00%
International Plans \| Pension Plan \| Fixed income securities
Defined Benefit Plan Disclosure [Line Items]
Targeted asset allocation, percentage	30.00%
International Plans \| Pension Plan \| Multi-strategy investments
Defined Benefit Plan Disclosure [Line Items]
Targeted asset allocation, percentage	50.00%

Income Taxes - Schedule of Provision for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Income Tax Disclosure [Abstract]
Provision for current federal taxes	$ 105.8	$ 67.6	$ 65.4
Provision for current state taxes	15.7	16.3	12.8
Provision for current foreign taxes	27.0	25.4	14.4
(Benefit from) provision for deferred taxes	(47.8)	0.6	(2.7)
Total provision for income taxes	$ 100.7	$ 109.9	$ 89.9

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

Schedule of Provision for Income Taxes

Income Taxes (Tables)

12 Months Ended

Aug. 31, 2023

Income Tax Disclosure [Abstract]

The provision for income taxes consists of the following components during the periods presented (in millions):


	Year Ended August 31,
	2023		2022		2021
Provision for current federal taxes	$	105.8	$	67.6	$	65.4
Provision for current state taxes	15.7		16.3		12.8
Provision for current foreign taxes	27.0		25.4		14.4
(Benefit from) provision for deferred taxes	(47.8)		0.6		(2.7)
Total provision for income taxes	$	100.7	$	109.9	$	89.9

Schedule of Reconciliation of Federal Statutory Rate to Total Provision for Income Taxes

The following table reconciles the provision at the federal statutory rate to the total provision for income taxes during the periods presented (in millions):


	Year Ended August 31,
	2023		2022		2021
Federal income tax computed at statutory rate	$	93.8	$	103.7	$	83.2
State income tax, net of federal income tax benefit	11.4		13.5		10.7
Federal permanent differences	2.2		(4.3)		0.6
Foreign permanent differences and rate differential	4.4		4.3		2.4
Research and development tax credits	(8.3)		(7.6)		(7.6)
Unrecognized tax benefits	1.9		2.1		0.7
Other, net	(4.7)		(1.8)		(0.1)
Total provision for income taxes	$	100.7	$	109.9	$	89.9

Schedule of Components of Net Deferred Income Taxes

Components of the net deferred income tax liabilities as of the dates presented include (in millions):


	August 31,
	2023		2022
Deferred income tax liabilities:
Depreciation	$	(21.5)	$	(18.6)
Goodwill and intangibles	(151.2)		(154.2)
Operating lease right of use assets	(19.8)		(18.3)
Other liabilities	(3.4)		(7.4)
Total deferred income tax liabilities	(195.9)		(198.5)
Deferred income tax assets:
Self-insurance	1.7		1.6
Pension	5.9		7.1
Deferred compensation	23.1		22.2
Net operating losses	6.2		5.8
Other accruals not yet deductible	43.4		42.9
Operating lease liabilities	22.6		20.3
Capitalized research and development	41.5		—
Other assets	15.4		9.3
Total deferred income tax assets	159.8		109.2
Valuation allowance	(19.9)		(11.5)
Net deferred income tax liabilities	$	(56.0)	$	(100.8)

Schedule of Change in Unrecognized Income Tax Benefit


	Year Ended August 31,
	2023		2022		2021
Unrecognized tax benefits balance at beginning of year	$	19.5	$	17.7	$	17.2
Additions based on tax positions related to the current year	4.3		3.5		5.2
Additions for tax positions of prior years	1.4		0.1		0.1
Reductions for tax positions of prior years	(1.7)		(0.2)		(0.1)
Reductions due to settlements	(0.5)		—		(4.6)
Reductions due to lapse of statute of limitations	(2.9)		(1.6)		(0.1)
Unrecognized tax benefits balance at end of year	$	20.1	$	19.5	$	17.7

Common Stock and Related Matters - Schedule of Changes in Common Stock (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Common Stock [Roll Forward]
Balance beginning of period (in shares)	54,241,069
Balance, beginning of period	$ 0.5
Stock options exercised	$ 1.2	$ 10.7	$ 2.2
Balance end of period (in shares)	54,411,186	54,241,069
Balance end of period	$ 0.5	$ 0.5
Common Stock
Common Stock [Roll Forward]
Balance beginning of period (in shares)	54,200,000	54,000,000.0	53,900,000
Balance, beginning of period	$ 0.5	$ 0.5	$ 0.5
Vesting of share-based payment awards (in shares)	200,000	100,000	100,000
Vesting of share-based payment awards	$ 0.0	$ 0.0	$ 0.0
Stock options exercised (in shares)	100,000	100,000	100,000
Stock options exercised	$ 0.0	$ 0.0	$ 0.0
Balance end of period (in shares)	54,400,000	54,200,000	54,000,000.0
Balance end of period	$ 0.5	$ 0.5	$ 0.5

Significant Accounting Policies - Inventories (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Inventory, Net [Abstract]
Raw materials, supplies, and work in process	$ 214.0	$ 252.6
Finished goods	180.3	264.0
Inventories excluding reserves	394.3	516.6
Less: Reserves	(25.8)	(30.9)
Total inventories	368.5	485.7
Inventory reserves:
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Year	30.9	38.0	$ 49.3
Additions to reserve	16.2	15.7	21.4
Disposals of reserved inventory	(20.6)	(22.5)	(32.7)
Foreign currency translation adjustments	(0.7)	(0.3)	0.0
Balance at End of Year	$ 25.8	$ 30.9	$ 38.0

Significant Accounting Policies

12 Months Ended

Aug. 31, 2023

Accounting Policies [Abstract]

Significant Accounting Policies

Principles of Consolidation

The Consolidated Financial Statements include the accounts of Acuity Brands, Inc. and its wholly-owned subsidiaries after elimination of intercompany transactions and accounts.

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.

Revenue Recognition

Refer to the Revenue Recognition footnote of the Notes to Consolidated Financial Statements for information related to our revenue recognition accounting policies.

Cash and Cash Equivalents

Cash in excess of daily requirements is invested in time deposits and marketable securities and is included in the accompanying balance sheets at fair value. We consider time deposits and marketable securities with an original maturity of three months or less when purchased to be cash equivalents.

Accounts Receivable

We record accounts receivable at net realizable value. This value includes a reserve for doubtful accounts to reflect our estimate of expected credit losses over the contractual term of our receivables. Our estimation of current expected credit losses reflects our considerations of historical write-offs, an analysis of past due accounts based on the contractual terms of the receivables, and the economic status of customers, if known. We additionally consider the impact of general economic conditions, including construction spending, unemployment rates, and macroeconomic growth, on our customers' future ability to meet their obligations. We believe that the reserve is sufficient to cover uncollectible amounts; however, there can be no assurance that unanticipated future business conditions of customers will not have a negative impact on our results of operations, financial condition, or cash flows.

Concentrations of Credit Risk

Concentrations of credit risk with respect to receivables, which are typically unsecured, are generally limited due to the wide variety of customers and markets using our lighting, lighting controls, building management systems, and location-aware applications as well as their dispersion across many different geographic areas. One customer accounted for approximately 10% of receivables at August 31, 2023 and at August 31, 2022. No single customer accounted for more than 10% of net sales in fiscal 2023, 2022, or 2021.

Reclassifications

We may reclassify certain prior period amounts to conform to the current year presentation. No material reclassifications occurred during the current period.

Inventories


	August 31,
	2023		2022
Raw materials, supplies, and work in process(1)	$	214.0	$	252.6
Finished goods	180.3		264.0
Inventories excluding reserves	394.3		516.6
Less: Reserves	(25.8)		(30.9)
Total inventories	$	368.5	$	485.7

_______________________________________

We review inventory quantities on hand and record a provision for excess or obsolete inventory primarily based on estimated future demand and current market conditions. A significant change in customer demand or market conditions could render certain inventory obsolete and could have a material adverse impact on our operating results in the period the change occurs. The following table summarizes the changes in our inventory reserves for the periods presented (in millions):


	Year Ended August 31,
	2023		2022		2021
Beginning balance	$	30.9	$	38.0	$	49.3
Additions to reserve	16.2		15.7		21.4
Disposals of reserved inventory	(20.6)		(22.5)		(32.7)
Foreign currency translation adjustments	(0.7)		(0.3)		—
Ending balance	$	25.8	$	30.9	$	38.0

Assets Held for Sale

We classify assets as held for sale when a plan for disposal is developed and approved, the asset is available for immediate sale, an active program to locate a buyer at a price reasonable in relation to current fair value is initiated, and transfer of the asset is expected to be completed within one year. We cease the depreciation and amortization of the assets when all of these criteria have been met and generally reflect balances within Prepayments and other current assets on our Consolidated Balance Sheets. We did not have any assets classified as held for sale at August 31, 2023 or August 31, 2022.

During the year ended August 31, 2022, we sold one building classified as held for sale at August 31, 2021 with a total carrying value of $6.6 million for a gain of approximately $2.3 million. This gain is reflected in Selling, distribution, and administrative expenses within our Consolidated Statements of Comprehensive Income.

Goodwill and Other Intangibles

The changes in the carrying amount of goodwill during the periods presented by segment are summarized as follows (in millions):


	ABL		ISG		Total
Balance as of August 31, 2021	$	1,022.2	$	72.5	$	1,094.7

Adjustments to provisional amounts from acquired businesses	2.3		—		2.3
Foreign currency translation adjustments	(10.3)		(2.4)		(12.7)
Balance as of August 31, 2022	1,014.2		70.1		1,084.3
Additions from acquired businesses	—		15.2		15.2
Adjustments to provisional amounts from acquired businesses	—		(0.2)		(0.2)
Derecognitions for divestitures	(0.7)		—		(0.7)
Foreign currency translation adjustments	0.9		(1.6)		(0.7)
Balance as of August 31, 2023	$	1,014.4	$	83.5	$	1,097.9

Through multiple acquisitions, we acquired definite-lived intangible assets that are amortized over their estimated useful lives. Indefinite-lived intangible assets consist of trade names that are expected to generate cash flows indefinitely. Significant estimates and assumptions were used to determine the initial fair value of these acquired intangible assets, including estimated future short-term and long-term net sales and profitability, customer attrition rates, royalty rates, and discount rates. Certain of our intangible assets are attributable to foreign operations and are impacted by currency translation due to movements in foreign currency rates year over year. Summarized information for our intangible assets is as follows as of the dates presented (in millions except amortization periods):


	August 31,
	2023				2022
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Definite-lived intangible assets:
Patents and patented technology	$	158.8	$	(122.3)	$	160.8	$	(116.0)
Trademarks and trade names	45.5		(18.4)		27.2		(18.3)
Distribution network	61.8		(49.4)		61.8		(47.3)
Customer relationships	425.0		(155.4)		427.7		(140.4)

Total definite-lived intangible assets	$	691.1	$	(345.5)	$	677.5	$	(322.0)
Indefinite-lived trade names	$	135.6			$	173.7

We recorded amortization expense of $42.1 million, $41.0 million, and $40.7 million related to acquired intangible assets during fiscal 2023, 2022, and 2021, respectively. Amortization expense is generally recorded on a straight-line basis and is expected to be approximately $39.6 million in fiscal 2024, $32.2 million in fiscal 2025, $29.5 million in fiscal 2026, $28.0 million in fiscal 2027, and $23.9 million in fiscal 2028.

We test goodwill and indefinite-lived intangible assets for impairment on an annual basis as of the first date of our fourth fiscal quarter (June 1) or more frequently if facts and circumstances indicate an asset is more likely than not impaired, as required by Accounting Standards Codification (“ASC”) Topic 350, Intangibles—Goodwill and Other (“ASC 350”). ASC 350 allows for an optional qualitative analysis for goodwill to determine the likelihood of impairment. If the qualitative review results in a more likely than not probability of impairment, a quantitative analysis is required. The qualitative step may be bypassed entirely in favor of a quantitative test.

The quantitative analysis for goodwill tests for impairments by comparing the fair value of a reporting unit to its carrying value, including goodwill. Reporting unit fair values can be determined based on a combination of valuation techniques including the expected present value of future cash flows, a market multiple approach, and a comparable transaction approach. If the fair value of a reporting unit exceeds its carrying value, goodwill is not

considered impaired. Conversely, if the carrying value of a reporting unit exceeds its fair value, an impairment charge for the difference would be recorded.

In fiscal 2023, 2022, and 2021, we used a quantitative analysis to calculate the fair value of our reporting units using a combination of discounted future cash flows and relevant market multiples. The analysis for goodwill did not result in an impairment charge during fiscal 2023, 2022, or 2021.

We performed our annual indefinite-lived intangible asset impairment analyses on the first day of our fiscal fourth quarter (June 1) for each period presented. As of June 1, 2023, the current fiscal year testing date, we held 13 indefinite-lived intangible assets with an aggregate carrying value of $173.4 million. The impairment test for indefinite-lived trade names compares the fair value of a trade name with its carrying value. If the carrying amount exceeds the estimated fair value, an impairment loss would be recorded for the amount of the excess. We estimate the fair value of indefinite-lived trade names using a fair value model based on discounted future cash flows. Significant assumptions, including estimated future short-term and long-term net sales, royalty rates, and discount rates, are used in the determination of estimated fair value for indefinite-lived trade names. Refer to the Fair Value Measurement footnote of the Notes to Consolidated Financial Statements for further information regarding significant assumptions used in our fiscal 2023 impairment test.

Based on the results of the indefinite-lived intangible asset analyses for fiscal 2023, we recorded an impairment charge of $14.0 million for six trade names within Special Charges in the Consolidated Statements of Comprehensive Income related to our ABL segment. We also determined five of these trade names no longer have indefinite lives. These trade names were classified as definite-lived as of June 1, 2023 and will be amortized over 15 years. The impairment analyses for fiscal 2023 of the other seven indefinite-lived intangible assets indicated that their fair values exceeded their carrying values.

The impairment analyses of our indefinite-lived intangible assets indicated that their fair values exceeded their carrying values for fiscal 2022 and fiscal 2021.

Other Long-Term Assets

Other long-term assets consist of the following items whose economic benefits are expected to be realized greater than one year from the dates presented (in millions):


	August 31,
	2023		2022
Deferred costs and other assets(1) (2)	$	29.9	$	28.1

Investments in debt and equity securities	7.2		11.9

Pensions plans in which plan assets exceed benefit obligation	12.4		8.0


Total other long-term assets	$	49.5	$	48.0

_______________________________________

Other Current Liabilities

Other current liabilities consist of the following as of the dates presented (in millions):


	August 31,
	2023		2022
Customer incentive programs(1)	$	31.6	$	40.7
Refunds to customers(1)	25.6		28.0
Current deferred revenues(1)	14.1		11.4
Sales commissions	35.7		41.9
Freight costs	15.0		22.8
Warranty and recall costs(2)	22.8		22.4
Tax-related items(3)	9.2		13.9
Interest on long-term debt(4)	2.3		2.3
Other	30.4		30.7
Total other current liabilities	$	186.7	$	214.1

____________________________________

(1)Refer to the Revenue Recognition footnote of the Notes to Consolidated Financial Statements for additional information.

(2)Refer to the Commitments and Contingencies footnote of the Notes to Consolidated Financial Statements for additional information.

(3)Includes accruals for income, property, sales and use, and value added taxes.

(4)Refer to the Debt and Lines of Credit footnote of the Notes to Consolidated Financial Statements for additional information.

Other Long-Term Liabilities

Other long-term liabilities consist of the following as of the dates presented (in millions):


	August 31,
	2023		2022
Deferred compensation and postretirement benefits other than pensions(1)	$	45.6	$	44.4
Deferred revenues(2)	47.6		53.1
Unrecognized tax position liabilities, including interest(3)	23.4		22.0
Self-insurance liabilities(4)	3.8		3.7
Product warranty and recall costs(4)	8.8		4.9
Other	—		0.8
Total other long-term liabilities	$	129.2	$	128.9

____________________________________

(2)Refer to the Revenue Recognition footnote of the Notes to Consolidated Financial Statements for additional information.

(3)Refer to the Income Taxes footnote of the Notes to Consolidated Financial Statements for additional information.

(4)Refer to the Commitments and Contingencies footnote of the Notes to Consolidated Financial Statements for additional information.

Shipping and Handling Fees and Costs

We include shipping and handling fees billed to customers in Net sales in the Consolidated Statements of Comprehensive Income.

When a product is sold, the associated shipping and handling costs are recorded in the Consolidated Statements of Comprehensive Income based on their function. Costs associated with inbound freight and freight between manufacturing facilities and distribution centers are generally recorded in Cost of products sold, which may be capitalized into inventory. Other shipping and handling costs, which primarily include amounts incurred to transfer finished goods to a customer's desired location, are included in Selling, distribution, and administrative expenses and totaled $141.7 million, $151.2 million, and $132.0 million in fiscal 2023, 2022, and 2021, respectively.

Share-based Payments

We account for stock options, restricted stock, performance stock units, and stock units representing certain deferrals into the Nonemployee Director Deferred Compensation Plan (the “Director Plan”) or the Supplemental Deferred Savings Plan (“SDSP”) (both of which are discussed further in the Share-based Payments footnote) based on their grant-date fair values estimated under the provisions of ASC Topic 718, Compensation—Stock Compensation (“ASC 718”).

We generally recognize compensation cost for share-based payment transactions on a straight-line basis over an award's requisite service period as defined by ASC 718. We apply the accelerated attribution method in certain circumstances, such as when a performance stock unit is subject to graded vesting. For awards subject to a market condition, we consider both actual and derived service periods, as well as the expected performance period, to determine the appropriate compensation recognition method. We have recorded share-based payment expense, net of estimated forfeitures, in Selling, distribution, and administrative expenses in the Consolidated Statements of Comprehensive Income. Share-based payment expense includes expense related to restricted stock, performance stock units, options issued, and stock units deferred into the Director Plan. We recorded $42.0 million, $37.4 million, and $32.5 million of share-based payment expense for the years ended August 31, 2023, 2022, and 2021, respectively. The total income tax benefit recognized for share-based payment expense was $7.2 million, $9.6 million, and $6.5 million for the years ended August 31, 2023, 2022, and 2021, respectively.

Excess tax benefits and/or expense related to share-based payment awards are reported within Income tax expense on the Consolidated Statements of Comprehensive Income. We recognized net excess tax benefit related to share-based payment cost of $1.5 million and $4.8 million for the years ended August 31, 2023 and 2022, respectively. We recognized net excess tax expense related to share-based payment cost of $0.5 million for the year ended August 31, 2021.

See the Share-based Payments footnote of the Notes to Consolidated Financial Statements for more information.

Property, Plant, and Equipment

Property, plant, and equipment is initially recorded at cost and depreciated principally on a straight-line basis using estimated useful lives of plant and equipment (3 to 40 years for buildings and related improvements and 2 to 15 years for machinery and equipment) for financial reporting purposes. Accelerated depreciation methods are used for income tax purposes. Leasehold improvements are amortized over the shorter of the life of the lease or the estimated useful life of the improvement. Land is not depreciated. Depreciation expense amounted to $51.1 million, $53.8 million, and $59.4 million during fiscal 2023, 2022, and 2021, respectively. The balance of property, plant, and equipment consists of the following as of the dates presented (in millions):


	August 31,
	2023		2022
Land	$	23.0	$	22.0
Buildings and leasehold improvements	210.9		202.3
Machinery and equipment	727.9		667.6
Total property, plant, and equipment, at cost	961.8		891.9
Less: Accumulated depreciation and amortization	(664.2)		(615.4)
Property, plant, and equipment, net	$	297.6	$	276.5

Research and Development

Research and development (“R&D”) expense consists of compensation, payroll taxes, employee benefits, materials, supplies, and other administrative costs, but it does not include all new or enhanced product development costs. R&D expense is expensed as incurred and is included in Selling, distribution, and administrative expenses in our Consolidated Statements of Comprehensive Income. R&D expense amounted to $97.1 million, $95.1 million, and $88.3 million during fiscal 2023, 2022, and 2021, respectively.

Advertising

Advertising costs are expensed as incurred and are included within Selling, distribution, and administrative expenses in our Consolidated Statements of Comprehensive Income. These costs totaled $21.9 million, $19.3 million, and $15.9 million during fiscal 2023, 2022, and 2021, respectively.

Interest Expense, Net

Interest expense, net, is comprised primarily of interest expense on long-term debt, line of credit borrowings, and loans that are secured by and presented net of company-owned life insurance policies on our Consolidated Balance Sheets. Interest expense is partially offset by interest income earned on cash and cash equivalents.

The following table summarizes the components of Interest expense, net during the periods presented (in millions):


	Year Ended August 31,
	2023		2022		2021
Interest expense	$	27.9	$	27.0	$	24.2
Interest income	(9.0)		(2.1)		(1.0)
Interest expense, net	$	18.9	$	24.9	$	23.2

Miscellaneous Expense (Income), Net

Miscellaneous expense (income), net, is comprised primarily of non-service related components of net periodic pension cost, gains and losses associated with foreign currency-related transactions, and non-operating gains and losses. During fiscal 2023 we reported an $11.2 million loss of the sale of our Sunoptics prismatic skylights business. The details of the Sunoptics sale are described in the Acquisitions and Divestitures footnote of the Notes to Consolidated Financial Statements.

Amounts relating to foreign currency transactions consisted of net gains of $8.4 million in fiscal 2023, net gains of $5.3 million in fiscal 2022, and net losses of $1.3 million in fiscal 2021.

Income Taxes

We are taxed at statutory corporate rates after adjusting income reported for financial statement purposes for certain items that are treated differently for income tax purposes. Deferred income tax expenses or benefits result from changes during the year in cumulative temporary differences between the tax basis and book basis of assets and liabilities. Refer to the Income Taxes footnote of the Notes to Consolidated Financial Statements for additional information.

Foreign Currency Translation

The functional currency for foreign operations is generally the local currency where the foreign operations are domiciled. The translation of foreign currencies into U.S. dollars is performed for asset and liability accounts using exchange rates in effect at the balance sheet dates and for revenue and expense accounts using a weighted average exchange rate each month during the year. The gains or losses resulting from the balance sheet translation are included in Foreign currency translation adjustments in the Consolidated Statements of Comprehensive Income and are excluded from net income.

Comprehensive Income

Comprehensive income represents a measure of all changes in equity that result from recognized transactions and other economic events other than transactions with owners in their capacity as owners. Other comprehensive income (loss) items includes foreign currency translation and pension adjustments.

The following table presents the changes in each component of accumulated other comprehensive loss net of tax during the periods presented (in millions):


	Foreign Currency Items		Defined Benefit Pension Plans		Accumulated Other Comprehensive Loss Items
Balance as of August 31, 2021	$	(40.2)	$	(58.0)	$	(98.2)
Other comprehensive (loss) income before reclassifications	(33.3)		0.7		(32.6)
Amounts reclassified from accumulated other comprehensive loss (1)	—		5.0		5.0
Net current period other comprehensive (loss) income	(33.3)		5.7		(27.6)
Balance as of August 31, 2022	(73.5)		(52.3)		(125.8)
Other comprehensive income before reclassifications	8.5		0.4		8.9
Amounts reclassified from accumulated other comprehensive loss (1)	—		4.3		4.3
Net current period other comprehensive income	8.5		4.7		13.2
Balance as of August 31, 2023	$	(65.0)	$	(47.6)	$	(112.6)

_______________________________________

(1)The before tax amounts of the defined benefit pension plan items are included in net periodic pension cost. See the Pension and Defined Contribution Plans footnote for additional details.

The following table presents the tax expense or benefit allocated to each component of other comprehensive income (loss) during the periods presented (in millions):


	Year Ended August 31,
	2023						2022						2021
	Before Tax Amount		Tax (Expense) or Benefit		Net of Tax Amount		Before Tax Amount		Tax (Expense) or Benefit		Net of Tax Amount		Before Tax Amount		Tax (Expense) or Benefit		Net of Tax Amount
Foreign currency translation adjustments	$	8.5	$	—	$	8.5	$	(33.3)	$	—	$	(33.3)	$	13.3	$	—	$	13.3
Defined benefit pension plans:
Tax adjustments	—		—		—		—		—		—		—		(3.2)		(3.2)
Actuarial gains	0.4		—		0.4		0.7		—		0.7		17.5		(3.6)		13.9
Amortization of defined benefit pension items:
Prior service cost	2.6		(0.6)		2.0		2.9		(0.7)		2.2		2.9		(0.6)		2.3
Actuarial losses	3.0		(0.7)		2.3		3.3		(0.8)		2.5		5.5		(1.2)		4.3
Settlement losses	—		—		—		0.4		(0.1)		0.3		3.9		—		3.9
Total defined benefit plans, net	6.0		(1.3)		4.7		7.3		(1.6)		5.7		29.8		(8.6)		21.2
Other comprehensive income (loss)	$	14.5	$	(1.3)	$	13.2	$	(26.0)	$	(1.6)	$	(27.6)	$	43.1	$	(8.6)	$	34.5

Leases

12 Months Ended

Aug. 31, 2023

Leases [Abstract]

Leases

We lease property and equipment under operating lease arrangements, most of which relate to distribution centers and manufacturing facilities in the U.S., Mexico, and Canada. We include both the contractual term as well as any renewal option that we are reasonably certain to exercise in the determination of our lease terms. For leases with a term of greater than 12 months, we value lease liabilities as the present value of the lease payments over the related term. Related assets are equal to the calculated lease liabilities adjusted for incentives and other items as prescribed by ASC Topic 842, Leases (“ASC 842”). Lease payments generally consist of fixed amounts, and variable amounts based on a market rate or an index are not material to our consolidated lease cost. We have elected to use the practical expedient present in ASC 842 to not separate lease and non-lease components for all significant underlying asset classes and instead account for them together as a single lease component in the measurement of our lease liabilities.

We apply the short-term lease exception to leases with a term of 12 months or less and exclude such leases from our Consolidated Balance Sheets. Payments related to these short-term leases are expensed on a straight-line basis over the lease term and are reflected as a component of lease cost within our Consolidated Statements of Comprehensive Income.

Generally, the rates implicit in our leases are not readily determinable. Therefore, we discount future lease payments using our estimated incremental borrowing rate at lease commencement. We determine this rate based on a credit-adjusted risk-free rate, which approximates a secured rate over the lease term. The weighted average discount rate for operating leases was 3.5% and 2.5% as of August 31, 2023 and 2022, respectively.


Fiscal year	August 31, 2023
2024	$	22.5
2025	20.9
2026	16.5
2027	12.5
2028	8.9
Thereafter	24.0
Total undiscounted lease payments	105.3
Less: Discount due to interest	(10.1)
Present value of lease liabilities	$	95.2

The weighted average remaining lease term for our operating leases was six years as of August 31, 2023.

Lease cost is recorded within Cost of products sold, and may be capitalized into inventory as manufacturing overhead, or Selling, distribution, and administrative expenses in the Consolidated Statements of Comprehensive Income based on the primary use of the related right of use (“ROU”) asset. The components of total lease cost were as follows during the periods presented (in millions):


	Year Ended August 31,
	2023		2022		2021
Operating lease cost	$	22.3	$	18.8	$	18.3
Variable lease cost	4.2		2.7		2.0
Short-term lease cost	3.6		4.3		2.2
Total lease cost	$	30.1	$	25.8	$	22.5

Cash paid for operating lease liabilities during the year ended August 31, 2023, 2022, and 2021 was $20.1 million, $18.5 million, and $26.2 million, respectively. ROU assets obtained in exchange for lease liabilities during the year ended August 31, 2023 and 2022 were $29.9 million and $37.3 million, respectively.

We have no significant leases that have not yet commenced as of August 31, 2023 that create significant rights and obligations.

We have subleased certain properties. Lease income from these subleases is recognized in the Consolidated Statements of Comprehensive Income as it is earned and is not material to our consolidated results of operations. We do not have any other significant transactions in which we are the lessor.

During fiscal 2023 and 2022, we committed to plans to vacate certain leased properties, which indicated that it was more likely than not that the fair value of the related ROU assets were below their carrying values. We assessed the recoverability of these assets using an undiscounted cash flow model and concluded that the carrying values of the assets were not fully recoverable. We recorded impairment charges of $4.3 million related to these assets using a discounted cash flow model to estimate their fair values in fiscal 2023. The fiscal 2023 impairment was related to the ABL segment. The impairments were recorded within Special charges in the Consolidated Statements of Comprehensive Income. See the Special Charges footnote of the Notes to Consolidated Financial Statements for further details on the fiscal 2023 impairment. The recoverability and impairment tests required significant assumptions including estimated future cash flows, the identification of assets within each asset group, and the determination of appropriate discount rates.

No impairments were recorded for leases in fiscal 2021.

Pension and Defined Contribution Plans (Tables)

12 Months Ended

Aug. 31, 2023

Retirement Benefits [Abstract]

Schedule of Domestic and International Pension Plans

The following tables reflect the status of our domestic (U.S.-based) and international pension plans as of the dates presented (in millions):


	Domestic Plans				International Plans
	August 31,				August 31,
	2023		2022		2023		2022
Change in benefit obligation:
Benefit obligation at beginning of year	$	176.0	$	224.7	$	31.5	$	52.6
Service cost	3.8		4.4		0.8		0.4
Interest cost	7.4		5.3		1.6		0.9

Actuarial gains	(16.2)		(43.1)		(1.2)		(17.1)


Benefits paid	(11.2)		(15.3)		(1.9)		(2.1)
Other	—		—		3.8		(3.2)
Benefit obligation at end of year	159.8		176.0		34.6		31.5
Change in plan assets:
Fair value of plan assets at beginning of year	141.5		182.6		28.5		42.2
Actual return on plan assets	(1.3)		(33.6)		(5.2)		(11.6)
Employer contributions	3.7		7.8		7.9		3.0
Benefits paid	(11.2)		(15.3)		(1.9)		(2.1)
Other	—		—		2.8		(3.0)
Fair value of plan assets at end of year	132.7		141.5		32.1		28.5

Funded status at the end of year	$	(27.1)	$	(34.5)	$	(2.5)	$	(3.0)

Amounts recognized in the consolidated balance sheets consist of:
Non-current assets	$	10.1	$	7.6	$	2.3	$	0.4
Current liabilities	(3.4)		(3.9)		(0.2)		(0.2)
Non-current liabilities	(33.8)		(38.2)		(4.6)		(3.2)
Net amount recognized in consolidated balance sheets	$	(27.1)	$	(34.5)	$	(2.5)	$	(3.0)
Accumulated benefit obligation	$	158.9	$	175.3	$	31.9	$	31.3
Pre-tax amounts in accumulated other comprehensive loss:
Prior service cost	$	(0.1)	$	(2.7)	$	(0.1)	$	(0.1)
Net actuarial loss	(44.3)		(54.2)		(13.4)		(6.5)
Amounts in accumulated other comprehensive loss	$	(44.4)	$	(56.9)	$	(13.5)	$	(6.6)
Pensions plans in which benefit obligation exceeds plan assets:
Projected benefit obligation	$	37.2	$	42.1	$	5.6	$	3.4
Accumulated benefit obligation	36.3		41.4		3.5		2.3
Plan assets	—		—		0.8		—
Pensions plans in which plan assets exceed benefit obligation:
Projected benefit obligation	$	122.6	$	133.9	$	29.0	$	28.1
Accumulated benefit obligation	122.6		133.9		28.4		29.0
Plan assets	132.7		141.5		31.3		28.5

Schedule of Net Periodic Pension Cost

Net periodic pension cost during the periods presented included the following components before tax (in millions):


	Domestic Plans						International Plans
	2023		2022		2021		2023		2022		2021
Service cost	$	3.8	$	4.4	$	4.6	$	0.8	$	0.4	$	0.3
Interest cost	7.4		5.3		5.3		1.6		0.9		0.9
Expected return on plan assets	(7.5)		(11.2)		(11.0)		(2.1)		(2.6)		(2.3)
Amortization of prior service cost	2.6		2.9		2.9		—		—		—

Settlement	—		0.4		3.9		—		—		—
Recognized actuarial loss	2.4		2.4		4.1		0.6		0.9		1.4
Net periodic pension cost	$	8.7	$	4.2	$	9.8	$	0.9	$	(0.4)	$	0.3

Schedule of Weighted Average Assumptions Used

Weighted average assumptions used in computing the benefit obligation are as follows:


	Domestic Plans				International Plans
	2023		2022		2023		2022
Discount rate	5.1	%	4.4	%	5.9	%	4.9	%
Rate of compensation increase	5.0	%	5.0	%	3.5	%	3.5	%

Weighted average assumptions used in computing net periodic pension cost are as follows:


	Domestic Plans						International Plans
	2023		2022		2021		2023		2022		2021
Discount rate	4.4	%	2.4	%	2.2	%	4.9	%	1.9	%	1.9	%
Expected return on plan assets	5.5	%	6.3	%	6.8	%	6.4	%	6.4	%	6.5	%
Rate of compensation increase	5.0	%	5.0	%	5.0	%	3.5	%	3.4	%	3.4	%

Schedule of Pension Plan Asset Allocation

Our pension plan asset allocation by asset category as of the dates presented is as follows:


	% of Plan Assets
	Domestic Plans				International Plans
	2023		2022		2023		2022
Equity securities	18.3	%	31.6	%	17.6	%	16.8	%
Fixed income securities	75.0	%	61.2	%	53.3	%	22.8	%
Multi-strategy investments	—	%	—	%	29.1	%	60.4	%
Real estate	6.7	%	7.2	%	—	%	—	%
Total	100.0	%	100.0	%	100.0	%	100.0	%

The following tables present the fair value of the domestic pension plan assets by major category as of the dates presented (in millions):


			Fair Value Measurements
	Fair Value as of		Quoted Market Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	August 31, 2023		(Level 1)		(Level 2)		(Level 3)
Assets included in the fair value hierarchy:
Fixed-income investments	$	58.2	$	—	$	58.2	$	—
US Treasury investments	36.9		—		36.9		—
Mutual funds:
Domestic large cap equity fund	13.0		13.0		—		—
Foreign equity fund	6.5		6.5		—		—
Collective trust: Domestic small cap equities	4.8		—		4.8		—
Short-term fixed income investments	4.4		4.4		—		—
Total assets in the fair value hierarchy	123.8
Assets calculated at net asset value:

Real estate fund	8.9
Total assets at net asset value	8.9
Total assets at fair value	$	132.7


			Fair Value Measurements
	Fair Value as of		Quoted Market Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	August 31, 2022		(Level 1)		(Level 2)		(Level 3)
Assets included in the fair value hierarchy:
Mutual funds:
Domestic large cap equity fund	$	23.7	$	23.7	$	—	$	—
Foreign equity fund	12.6		12.6		—		—
Collective trust: Domestic small cap equities	8.4		—		8.4		—
Short-term fixed income investments	2.1		2.1		—		—
Total assets in the fair value hierarchy	46.8
Assets calculated at net asset value:
Fixed-income investments	84.5
Real estate fund	10.2
Total assets at net asset value	94.7
Total assets at fair value	$	141.5

The following tables present the fair value of the international pension plan assets by major category as of the dates presented (in millions):


			Fair Value Measurements
	Fair Value as of		Quoted Market Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	August 31, 2023		(Level 1)		(Level 2)		(Level 3)
Assets included in the fair value hierarchy:
Equity securities	$	5.2	$	—	$	5.2	$	—
Short-term fixed income investments	7.1		7.1		—		—

Multi-strategy investments	11.0		—		11.0		—
Fixed-income investments	8.8		—		8.8		—
Total assets at fair value	$	32.1


			Fair Value Measurements
	Fair Value as of		Quoted Market Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	August 31, 2022		(Level 1)		(Level 2)		(Level 3)
Assets included in the fair value hierarchy:
Equity securities	$	4.8	$	—	$	4.8	$	—
Short-term fixed income investments	0.3		0.3		—		—
Multi-strategy investments	17.2		—		17.2		—
Fixed-income investments	6.2		—		6.2		—




Total assets at fair value	$	28.5

Schedule of Expected Benefit Payments

Benefit payments are expected to be paid as follows during the years ending August 31 (in millions):


	Domestic Plans		International Plans
2024	$	11.7	$	1.7
2025	12.5		1.8
2026	14.2		1.9
2027	13.2		2.1
2028	12.4		2.3
2029-2033	62.3		15.0

Supplemental Disaggregated Information (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Geographic Distribution
Net sales	$ 3,952.2	$ 4,006.1	$ 3,461.0
Operating profit:	473.4	509.7	427.6
Income before income taxes:	446.7	493.9	396.2
Long-lived assets	431.2	399.4	361.0
Domestic
Geographic Distribution
Net sales	3,412.9	3,486.4	2,982.4
Operating profit:	382.6	428.3	369.9
Income before income taxes:	367.5	409.6	343.7
Long-lived assets	323.8	325.9	284.4
International
Geographic Distribution
Net sales	539.3	519.7	478.6
Operating profit:	90.8	81.4	57.7
Income before income taxes:	79.2	84.3	52.5
Long-lived assets	$ 107.4	$ 73.5	$ 76.6
Net Sales \| Product Concentration Risk \| Lighting and Building Management Solutions
Geographic Distribution
Concentrations as a percentage of total (percent)	99.00%	99.00%	99.00%

Leases - Components of Total Lease Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Leases [Abstract]
Operating lease cost	$ 22.3	$ 18.8	$ 18.3
Variable lease cost	4.2	2.7	2.0
Short-term lease cost	3.6	4.3	2.2
Total lease cost	$ 30.1	$ 25.8	$ 22.5

Debt and Lines of Credit (Tables)

12 Months Ended

Aug. 31, 2023

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Our debt is carried at the outstanding balance net of any related unamortized discounts and deferred costs and consists of the following as of the dates presented (in millions):


	August 31,
	2023		2022
Senior unsecured public notes due December 2030, principal	$	500.0	$	500.0
Senior unsecured public notes due December 2030, unamortized discount and deferred costs	(4.4)		(5.0)
Short-term borrowings under credit facility	—		18.0


Total debt	$	495.6	$	513.0

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69B

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69E

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482925/835-30-45-2

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482925/835-30-45-1A

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-3

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482949/835-30-55-8

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480848/942-470-50-3

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-8

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-6

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-7

Schedule of Carrying Value and Estimated Fair Value of Financial Instruments

Commitments and Contingencies - Product Warranty and Recall Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Movement in warranty accruals
Beginning balance	$ 27.3	$ 20.3	$ 16.1
Warranty and recall costs	47.0	52.4	32.3
Payments and other deductions	(42.7)	(45.4)	(28.4)
Acquired warranty and recall liabilities	0.0	0.0	0.3
Ending balance	$ 31.6	$ 27.3	$ 20.3

Fair Value Measurements (Tables)

12 Months Ended

Aug. 31, 2023

Fair Value Disclosures [Abstract]

The following table summarizes balances and the fair value hierarchy level of our financial instruments recorded at fair value on a recurring basis as of the dates presented (in millions):


	August 31,
	2023								2022
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total

Cash and cash equivalents	$	397.9	$	—	$	—	$	397.9	$	223.2	$	—	$	—	$	223.2
Other financial instruments	—		0.4		—		0.4		—		—		—		—
Assets in fair value hierarchy	397.9		0.4		—		398.3		223.2		—		—		223.2
Other investments(1)							7.2								11.9
Total assets at fair value	$	397.9	$	0.4	$	—	$	405.5	$	223.2	$	—	$	—	$	235.1

____________________________________

Summary of Information Related to Nonrecurring Fair Value Measurements

The following table summarizes information related to our nonrecurring fair value measurements during the current fiscal year (in millions):

Measurement Date

Fair Value Hierarchy Level

Fair Value

Indefinite-lived trade names

June 1, 2023

Level 3

46.5

Right of use operating lease asset group

November 30, 2022

Level 3

3.4

Total assets at nonrecurring fair value

49.9

Share-based Payments - Restricted Stock Units (Details) - Restricted stock awards and units - $ / shares shares in Millions	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Number of Shares
Forfeited (in shares)	(0.1)	(0.1)	(0.1)
Weighted Average Grant Date Fair Value Per Share
Forfeited, Weighted Average Grant Date Fair Value Per Share (in dollars per share)	$ 163.37	$ 131.08	$ 116.33
Stock Incentive Plan
Number of Shares
Beginning of period, Outstanding (in shares)	0.3	0.4	0.4
Granted (in shares)	0.2	0.1	0.2
Vested (in shares)	(0.1)	(0.1)	(0.1)
End of period, Outstanding (in shares)	0.3	0.3	0.4
Weighted Average Grant Date Fair Value Per Share
Beginning of period, Outstanding, Weighted Average Grant date Fair Value Per Share (in dollars per share)	$ 144.51	$ 116.77	$ 134.68
Granted, Weighted Average Grant Date Fair Value Per Share (in dollars per share)	175.23	204.36	108.79
Vested, Weighted Average Grant Date Fair Value Per Share (in dollars per share)	140.85	122.27	150.44
End of period, Outstanding, Weighted Average Grant Date Fair Value Per Share (in dollars per share)	$ 159.33	$ 144.51	$ 116.77

New Accounting Pronouncements	12 Months Ended
New Accounting Pronouncements	Aug. 31, 2023
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements Accounting Standards Adopted in Fiscal 2023 Accounting Standards Update (“ASU”) 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (“ASU 2021-08”) In October 2021, the Financial Accounting Standards Board (the “FASB”) issued ASU 2021-08, which requires companies to recognize and measure contract assets and contract liabilities acquired in a business combination as if the acquiring company originated the related revenue contracts. ASU 2021-08 is effective for fiscal years beginning after December 15, 2022, or our fiscal 2024, with early adoption permitted, including in an interim period. We early adopted ASU 2021-08 as of May 15, 2023, on a prospective basis, as permitted by the standard, and applied its provisions to our current period acquisition. This standard did not have a material effect on our fiscal 2023 acquisition or our financial condition, results of operations, or cash flows. Accounting Standards Yet to Be Adopted ASU 2023-02, Investments—Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method (“ASU 2023-02”) In March 2023, the FASB issued ASU 2023-02, which expands the permitted use of the proportional amortization method of accounting for certain tax-related investments if certain conditions are met. ASU 2023-02 is effective for fiscal years beginning after December 15, 2023, or our fiscal 2025, with early adoption permitted, including in an interim period. As of August 31, 2023, we do not hold any qualifying investments. Therefore, we do not expect ASU 2023-02 to have a material impact on our financial condition, results of operations, or cash flows. All other newly issued accounting pronouncements not yet effective have been deemed either immaterial or not applicable.

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (h)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 5
-Subparagraph (SAB Topic 11.M.Q2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480530/250-10-S99-5

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (i)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479832/842-10-65-5

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (f)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479832/842-10-65-5

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483550/848-10-65-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479343/105-10-65-6

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (e)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482833/825-10-65-6

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482833/825-10-65-6

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (e)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482833/825-10-65-6

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-4

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-4

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483194/926-20-65-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483194/926-20-65-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483194/926-20-65-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480530/250-10-S99-6

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 250
-Publisher FASB
-URI https://asc.fasb.org//250/tableOfContent

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (d)(1)
-SubTopic 20
-Topic 310
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481925/310-20-65-2

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (d)(2)
-SubTopic 20
-Topic 310
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481925/310-20-65-2

Restructuring and Related Activities [Abstract]

Significant Accounting Policies - Assets Held For Sale (Details) - Held-for-sale $ in Millions	12 Months Ended
	Aug. 31, 2022 USD ($) building	Aug. 31, 2023 USD ($)	Aug. 31, 2021 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale, total	$ 0.0	$ 0.0
Building
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale, total			$ 6.6
Number of buildings classified as held for sale \| building	1
Gain on sale of building	$ 2.3

Fair Value Measurements - Narrative (Details) $ in Millions	12 Months Ended
Fair Value Measurements - Narrative (Details) $ in Millions	Aug. 31, 2023 USD ($) intangible_asset	Aug. 31, 2021 USD ($)	Jun. 01, 2023 USD ($)	Feb. 28, 2023 USD ($)	Aug. 31, 2022 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cost basis of investment				$ 2.5
Credit loss					$ 0.0
Operating lease right-of-use assets	$ 84.1				74.9
Operating lease asset group impairment charge	4.3	$ 0.0
Estimate of Fair Value Measurement \| Revolving credit facility borrowings \| Credit Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term debt, fair value	0.0				18.0
Estimate of Fair Value Measurement \| Senior Unsecured Notes Payable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying and estimated fair value of financial instruments	$ 401.4				$ 399.2
Trade Names
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of impaired intangible assets \| intangible_asset	6
Indefinite-lived trade names			$ 46.5
Intangible asset impairment charge	$ 14.0
Number of unimpaired intangible assets \| intangible_asset	7
Trade Names \| Long-term Growth Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible asset fair value measurement inputs (percent)	0.025
Trade Names \| Discount Rate \| Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible asset fair value measurement inputs (percent)			0.11
Trade Names \| Discount Rate \| Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible asset fair value measurement inputs (percent)			0.13
Trade Names \| Royalty Rate \| Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible asset fair value measurement inputs (percent)	0.01
Trade Names \| Royalty Rate \| Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible asset fair value measurement inputs (percent)	0.03
Trade Names No Longer With Indefinite Lives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
No longer indefinite lives \| intangible_asset	5
Amortization period			15 years
Fair value measured on nonrecurring basis \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Indefinite-lived trade names	$ 46.5
Operating lease right-of-use assets	3.4
Operating lease asset group impairment charge	$ 4.3

Consolidated Balance Sheets - USD ($) $ in Millions	Aug. 31, 2023	Aug. 31, 2022
Current assets:
Cash and cash equivalents	$ 397.9	$ 223.2
Accounts receivable, less reserve for doubtful accounts of $1.3 and $1.2, respectively	555.3	665.9
Inventories	368.5	485.7
Prepayments and other current assets	73.5	91.2
Total current assets	1,395.2	1,466.0
Property, plant, and equipment, net	297.6	276.5
Operating lease right-of-use assets	84.1	74.9
Goodwill	1,097.9	1,084.3
Intangible assets, net	481.2	529.2
Deferred income taxes	3.0	1.3
Other long-term assets	49.5	48.0
Total assets	3,408.5	3,480.2
Current liabilities:
Accounts payable	285.7	397.8
Current maturities of debt	0.0	18.0
Current operating lease liabilities	19.7	15.7
Accrued compensation	103.3	88.0
Other accrued liabilities	186.7	214.1
Total current liabilities	595.4	733.6
Long-term debt	495.6	495.0
Long-term operating lease liabilities	75.5	67.4
Accrued pension liabilities	38.4	41.4
Deferred income taxes	59.0	102.1
Other long-term liabilities	129.2	128.9
Total liabilities	1,393.1	1,568.4
Commitments and contingencies (see Commitments and Contingencies footnote)
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; 54,411,186 and 54,241,069 issued, respectively	0.5	0.5
Paid-in capital	1,066.8	1,036.3
Retained earnings	3,505.4	3,176.2
Accumulated other comprehensive loss	(112.6)	(125.8)
Treasury stock, at cost — 23,362,196 and 21,753,820 shares, respectively	(2,444.7)	(2,175.4)
Total stockholders’ equity	2,015.4	1,911.8
Total liabilities and stockholders’ equity	$ 3,408.5	$ 3,480.2

Significant Accounting Policies - Schedule of Other Current Liabilities (Details) - USD ($) $ in Millions	Aug. 31, 2023	Aug. 31, 2022
Other Current Liabilities [Line Items]
Customer incentive programs	$ 31.6	$ 40.7
Refunds to customers	25.6	28.0
Current deferred revenues	14.1	11.4
Sales commissions	35.7	41.9
Freight costs	15.0	22.8
Warranty and recall costs	22.8	22.4
Tax-related items	9.2	13.9
Interest on long-term debt	2.3	2.3
Other	30.4	30.7
Total other current liabilities	186.7	214.1
Customers with Rights of Return, Cash Discounts and Other Credits
Other Current Liabilities [Line Items]
Refunds to customers	$ 25.6	$ 28.0

Leases - Schedule of Future Undiscounted Payments (Details) $ in Millions	Aug. 31, 2023 USD ($)
Leases [Abstract]
2024	$ 22.5
2025	20.9
2026	16.5
2027	12.5
2028	8.9
Thereafter	24.0
Total undiscounted lease payments	105.3
Less: Discount due to interest	(10.1)
Present value of lease liabilities	$ 95.2

Special Charges

12 Months Ended

Aug. 31, 2023

Special Charges

During the year ended August 31, 2023, we recognized pre-tax special charges of $26.9 million, which primarily included impairment charges of indefinite-lived intangible assets; impairments of certain retained assets associated with our previously owned Sunoptics prismatic skylights business that were not transferred in connection with the sale; and severance and employee-related costs in connection with the Sunoptics divestiture as well as streamlining activities initiated during the fourth quarter of fiscal 2023. We recognized no special charges during the year ended August 31, 2022.

The details of the special charges during the periods presented are summarized as follows (in millions):


	Year Ended August 31,
	2023		2021
Trade name impairment charges	$	14.0	$	—
Severance and employee-related costs	7.7		1.7
Operating lease asset group impairment charge	4.3		—
Other restructuring costs	0.9		1.6
Total special charges	$	26.9	$	3.3

As of August 31, 2023, remaining accruals related to special charges totaled $5.2 million and are included in Accrued compensation in the Consolidated Balance Sheets. These amounts related to unpaid severance and employee-related costs from our fourth quarter fiscal 2023 actions.

Segment Information - Operating Segment (Details) $ in Millions	12 Months Ended
	Aug. 31, 2023 USD ($) segment	Aug. 31, 2022 USD ($)	Aug. 31, 2021 USD ($)
Segment Reporting [Abstract]
Number of reportable segments \| segment	2
Special charges	$ 26.9	$ 0.0	$ 3.3
Segment Reporting Information [Line Items]
Net sales	3,952.2	4,006.1	3,461.0
Operating profit (loss):	473.4	509.7	427.6
Depreciation and amortization:	93.2	94.8	100.1
Segment assets:	3,408.5	3,480.2	3,575.1
Capital expenditures:	$ 66.7	56.5	43.8
Number of reportable segments \| segment	2
Special charges	$ 26.9	0.0	3.3
Acuity Brands Lighting and Lighting Controls Segment
Segment Reporting [Abstract]
Special charges	25.0
Segment Reporting Information [Line Items]
Special charges	25.0
Operating Segments \| ABL
Segment Reporting Information [Line Items]
Net sales	3,722.8	3,810.1	3,287.3
Operating profit (loss):	509.5	545.6	476.2
Depreciation and amortization:	77.4	79.3	84.3
Segment assets:	870.1	1,097.8	925.3
Capital expenditures:	59.3	51.7	42.9
Operating Segments \| ISG
Segment Reporting Information [Line Items]
Net sales	252.7	216.1	190.0
Operating profit (loss):	32.1	22.7	9.9
Depreciation and amortization:	14.4	14.4	14.7
Segment assets:	53.7	53.8	45.2
Capital expenditures:	3.5	2.6	0.8
Eliminations
Segment Reporting Information [Line Items]
Net sales	(23.3)	(20.1)	(16.3)
Unallocated corporate amounts
Segment Reporting Information [Line Items]
Operating profit (loss):	(68.2)	(58.6)	(58.5)
Depreciation and amortization:	1.4	1.1	1.1
Segment assets:	2,484.7	2,328.6	2,604.6
Capital expenditures:	$ 3.9	$ 2.2	$ 0.1

Revenue Recognition - Disaggregated Revenues (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Disaggregation of Revenue [Line Items]
Net sales	$ 3,952.2	$ 4,006.1	$ 3,461.0
Operating Segments \| ABL
Disaggregation of Revenue [Line Items]
Net sales	3,722.8	3,810.1	3,287.3
Operating Segments \| ISG
Disaggregation of Revenue [Line Items]
Net sales	252.7	216.1	190.0
Eliminations
Disaggregation of Revenue [Line Items]
Net sales	(23.3)	(20.1)	(16.3)
Independent sales network \| Operating Segments \| ABL
Disaggregation of Revenue [Line Items]
Net sales	2,671.0	2,714.1	2,400.5
Direct sales network \| Operating Segments \| ABL
Disaggregation of Revenue [Line Items]
Net sales	414.4	384.2	358.1
Retail sales \| Operating Segments \| ABL
Disaggregation of Revenue [Line Items]
Net sales	194.9	178.3	181.5
Corporate accounts \| Operating Segments \| ABL
Disaggregation of Revenue [Line Items]
Net sales	200.3	222.7	168.7
OEM and other \| Operating Segments \| ABL
Disaggregation of Revenue [Line Items]
Net sales	$ 242.2	$ 310.8	$ 178.5

Segment Information

12 Months Ended

Aug. 31, 2023

Segment Information

The following table presents financial information by operating segment for the periods presented (in millions):


	Year Ended August 31,
	2023		2022		2021
Net sales:
ABL	$	3,722.8	$	3,810.1	$	3,287.3
ISG	252.7		216.1		190.0
Eliminations(1)	(23.3)		(20.1)		(16.3)
Total	$	3,952.2	$	4,006.1	$	3,461.0
Operating profit (loss):
ABL(2)	$	509.5	$	545.6	$	476.2
ISG	32.1		22.7		9.9
Unallocated corporate amounts	(68.2)		(58.6)		(58.5)
Total	$	473.4	$	509.7	$	427.6
Depreciation and amortization:
ABL	$	77.4	$	79.3	$	84.3
ISG	14.4		14.4		14.7
Unallocated corporate amounts	1.4		1.1		1.1
Total	$	93.2	$	94.8	$	100.1
Segment assets:
ABL	$	870.1	$	1,097.8	$	925.3
ISG	53.7		53.8		45.2
Unallocated corporate amounts	2,484.7		2,328.6		2,604.6
Total	$	3,408.5	$	3,480.2	$	3,575.1
Capital expenditures:
ABL	$	59.3	$	51.7	$	42.9
ISG	3.5		2.6		0.8
Unallocated corporate amounts	3.9		2.2		0.1
Total	$	66.7	$	56.5	$	43.8

____________________________

(1) These amounts represent intersegment sales. Profit on these sales eliminates within gross profit on a consolidated basis.

The following table reconciles operating profit by segment to income before income taxes (in millions):


	Year Ended August 31,
	2023		2022		2021
Operating profit - ABL	$	509.5	$	545.6	$	476.2
Operating profit - ISG	32.1		22.7		9.9
Unallocated corporate amounts	(68.2)		(58.6)		(58.5)
Operating profit	473.4		509.7		427.6
Interest expense, net	18.9		24.9		23.2
Miscellaneous expense (income), net	7.8		(9.1)		8.2
Income before income taxes	$	446.7	$	493.9	$	396.2

Supplemental Disaggregated Information


	Year Ended August 31,
	2023		2022		2021
Net sales(1):
Domestic(2)	$	3,412.9	$	3,486.4	$	2,982.4
International	539.3		519.7		478.6
Total	$	3,952.2	$	4,006.1	$	3,461.0
Operating profit:
Domestic(2)	$	382.6	$	428.3	$	369.9
International	90.8		81.4		57.7
Total	$	473.4	$	509.7	$	427.6
Income before income taxes:
Domestic(2)	$	367.5	$	409.6	$	343.7
International	79.2		84.3		52.5
Total	$	446.7	$	493.9	$	396.2
Long-lived assets(3):
Domestic(2)	$	323.8	$	325.9	$	284.4
International	107.4		73.5		76.6
Total	$	431.2	$	399.4	$	361.0

_______________________________________

(1)Net sales are attributed to each country based on the selling location.

(2)Domestic amounts include amounts for U.S. based operations.

(3)Long-lived assets include net property, plant, and equipment, operating lease right-of-use assets, and other long-term assets as reflected in the Consolidated Balance Sheets.