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Stock-based Compensation (Tables)
 12 Months Ended
Aug. 31, 2020
Share-based Payment Arrangement [Abstract]  
Summary of Stock Option Activity
A summary of stock option activity is as follows:

Number OutstandingWeighted Average
Exercise Price Per Share		Aggregate Intrinsic ValueWeighted Average Remaining Contractual Life (years)
Outstanding as of August 31, 20173,366 $139.29 
Granted – non performance-based575 $190.14 
Granted – performance-based17 $200.20 
Granted – non-employee Directors grant19 $197.75 
Exercised(622)$113.73 
Forfeited(212)$158.14 
Outstanding as of August 31, 20183,143 $153.05 
Granted – non performance-based482 $224.35 
Granted – non-employee Directors grant20 $207.88 
Exercised(705)$137.61 
Forfeited(416)$170.54 
Outstanding as of August 31, 20192,524 $168.50 
Granted – non performance-based424 $256.43 
Granted – non-employee Directors grant16 $271.51 
Exercised(588)$145.54 
Forfeited(122)$218.36 
Outstanding as of August 31, 20202,254 $189.32 $129.6 6.6
Options vested and exercisable as of August 31, 2020875 $155.58 $170.4 5.1
Options expected to vest as of August 31, 20201,264 $209.33 $178.4 7.5
Summary of Weighted Average Assumptions
The weighted average estimated fair value of employee stock options granted during fiscal 2020, 2019 and 2018 was determined using the binomial model with the following weighted average assumptions:
(Weighted average assumptions)
202020192018
Term structure of risk-free interest rate0.10 %—1.79%1.28 %—3.14%1.28 %—2.41%
Expected life (years)7.2—7.27.1—7.17.4—7.4
Term structure of volatility25 %—25%18 %—29%19 %—29%
Dividend yield1.09%1.15%1.32%
Weighted average estimated fair value$60.33$57.12$48.39
Weighted average exercise price$256.43$224.35$190.42
Fair value as a percentage of exercise price23.5%25.5%25.4%
On January 15, 2020, January 15, 2019, and January 12, 2018, FactSet granted, 16,080, 20,576, and 18,963 stock options, respectively, to the Company’s non-employee Directors using the weighted average fair values, based on the following weighted average assumptions used in the Black-Scholes option-pricing model:
(Weighted average assumptions)
Years ended August 31,
202020192018
Fair value$54.74 $42.77 $38.76 
Risk-free interest rate1.64 %2.51 %2.34 %
Expected life (years)5.45.45.4
Expected volatility22.0 %20.5 %19.7 %
Dividend yield1.11 %1.17 %1.16 %
The weighted average estimated fair value of employee stock purchase plan grants during fiscal years 2020, 2019 and 2018, was $50.69, $41.06 and $31.83 per share, respectively, with the following weighted average assumptions:
(Weighted average assumptions)
202020192018
Risk-free interest rate0.95 %2.33 %1.55 %
Expected life (months)333
Expected volatility20.04 %10.89 %10.19 %
Dividend yield1.08 %1.12 %1.27 %
Summary of Stock Award Activity
A summary of Stock Award activity is as follows:
(in thousands, except per award data)Number OutstandingWeighted Average Grant
Date Fair Value Per Award
Balance at August 31, 2017182 138.62
Granted - restricted stock(1)
3 189.28
Vested - restricted stock(27)155.95
Forfeited(15)116.29
Balance at August 31, 2018143 139.34
Granted - restricted stock(1)
73 239.03
Vested - restricted stock(85)125.04
Forfeited(7)181.32
Balance at August 31, 2019124 205.47
Granted - restricted stock & PSUs(1)(2)
74 252.17
Vested - restricted stock(33)197.37
Forfeited(19)198.53
Balance at August 31, 2020146 231.55
(1)Each Stock Award granted is equivalent to 2.5 shares granted under the LTIP.
(2)FactSet granted 36,709 awards of restricted stock and 36,888 PSUs.
Summary of Share-based Awards Available for Grant
A summary of share-based awards available for grant is as follows:
(in thousands)Share-based Awards
Available for Grant under the
Employee Stock Option Plan		Share-based Awards
Available for Grant under the
Non-Employee Stock Option Plan
Balance at August 31, 2017897 42 
Increase in the number of shares available for issuance5,750 250 
Granted – non performance-based options(575)— 
Granted – performance-based options(17)— 
Granted – non-employee Directors options— (19)
Granted – restricted stock(1)
(9)— 
Forfeited - Share-based awards(2)
252 9 
Balance at August 31, 20186,298 282 
Granted – non performance-based options(481)— 
Granted – non-employee Directors options— (20)
Granted – restricted stock(1)
(183)— 
Forfeited - Share-based awards(2)
433 2 
Balance at August 31, 20196,067 264 
Granted – non performance-based options(424)— 
Granted – non-employee Directors options— (16)
   Granted – restricted stock(1)
(93)— 
Granted – PSUs(1)
(91)— 
Forfeited – Share-based awards(2)
167 2 
Balance at August 31, 20205,626 250 
(1)Each Stock Award granted is equivalent to 2.5 shares granted under the LTIP.
(2)Under the LTIP, for each Stock Award canceled/forfeited, an equivalent of 2.5 shares is added back to the available share-based awards balance.