Stockholders' Equity

3 Months Ended

Nov. 30, 2021

Equity [Abstract]

Stockholders' Equity

STOCKHOLDERS’ EQUITY

Shares of common stock outstanding were as follows:

	Three Months Ended
	November 30,
(in thousands)	2021	2020
Balance, beginning of period	37,615	38,030
Common stock issued for employee stock plans	210	117
Repurchase of common stock from employees(1)	(7)	(7)
Repurchase of common stock under the share repurchase program	(46)	(132)
Balance, end of period	37,772	38,008

(1)For the three months ended November 30, 2021 and November 30, 2020, we repurchased 6,747 and 6,728 shares, or $2.9 million and $2.1 million of common stock, respectively, primarily to satisfy withholding tax obligations due upon the vesting of stock-based awards.

Share Repurchase Program

Under our share repurchase program, we may repurchase shares of our common stock from time to time in the open market and privately negotiated transactions, subject to market conditions. For the three months ended November 30, 2021 and November 30, 2020, we repurchased 46,200 shares for $18.6 million and 131,800 shares for $43.1 million, respectively.

As of November 30, 2021, a total of $181.3 million remained authorized for future share repurchases under this program. It is expected that share repurchases will be paid using existing and future cash generated by operations. Refer to Note 17, Subsequent Event for more information on our expectations around our share repurchase program for fiscal 2022.

Restricted Stock

Restricted stock awards entitle the holders to receive shares of common stock as the awards vest over time. For the three months ended November 30, 2021, 17,349 shares of previously granted restricted stock vested and were included in common stock outstanding as of November 30, 2021 (recorded net of 6,747 shares repurchased from employees at a cost of $2.9 million to cover their cost of taxes upon vesting of the restricted stock). During the three months ended November 30, 2020, 17,946 shares of previously granted restricted stock vested and were included in common stock outstanding as of November 30, 2020 (recorded net of 6,728 shares repurchased from employees at a cost of $2.1 million to cover their cost of taxes upon vesting of the restricted stock).

Dividends

Our Board of Directors declared dividends in the three months ended November 30, 2021 and November 30, 2020 as follows:

Year Ended	Dividends per Share of Common Stock		Record Date	Total $ Amount (in thousands)		Payment Date
Fiscal 2022
First Quarter	$	0.82	November 30, 2021	$	30,973	December 16, 2021
Fiscal 2021
First Quarter	$	0.77	November 30, 2020	$	29,266	December 17, 2020

Future cash dividend payments will depend on our earnings, capital requirements, financial condition and other factors considered relevant by us and are subject to final determination by our Board of Directors.

Accumulated Other Comprehensive Loss

The components of AOCL are as follows:

(in thousands)	November 30, 2021		August 31, 2021
Accumulated unrealized losses on cash flow hedges	$	(2,090)	$	(2,095)
Accumulated foreign currency translation adjustments	(55,580)		(36,867)
Total AOCL	$	(57,670)	$	(38,962)