Stockholders' Equity

3 Months Ended

Nov. 30, 2022

Equity [Abstract]

Stockholders' Equity

STOCKHOLDERS’ EQUITY

Share Repurchases

	Three Months Ended
	November 30,
(in thousands)	2022		2021
Repurchase of common stock under the share repurchase program(1)	—		(46)
Total cost of shares repurchased(1)	$	—	$	18,639
Amount authorized for future repurchase under the share repurchase program(2)	$	181,300	$	181,300

(1) Amounts do not include 25,450 shares and 6,747 shares surrendered by grantees to satisfy withholding tax obligations due upon the vesting or exercise of stock-based awards valued at $10.8 million and $2.9 million during the three months ended November 30, 2022 and November 30, 2021, respectively.

(2) There is no defined number of shares to be repurchased over a specified timeframe through the life of the program. We may repurchase shares of our common stock under the program from time-to-time in the open market and privately negotiated transactions, subject to market conditions.

For the three months ended November 30, 2022, we did not make any repurchases under our existing program, compared to 46,200 shares repurchased for $18.6 million for the three months ended November 30, 2021. Beginning in the second quarter of fiscal 2022, we suspended our share repurchase program until at least the second half of fiscal 2023, with the exception of potential minor repurchases to offset dilution from grants of equity awards or repurchases to satisfy withholding tax obligations due upon the vesting of stock-based awards. The suspension of our share repurchase program allows us to prioritize the repayment of debt under the 2022 Credit Facilities. Refer to Note 11, Debt for more information on the 2022 Credit Facilities.

Equity-based Awards

Refer to Note 15, Stock-Based Compensation for more information on equity awards issued during the three months ended November 30, 2022 and November 30, 2021.

Dividends

Our Board of Directors declared dividends during the three months ended November 30, 2022 and November 30, 2021 as follows:

Year Ended	Dividends per Share of Common Stock		Record Date	Total $ Amount (in thousands)		Payment Date
Fiscal 2023
First Quarter	$	0.89	November 30, 2022	$	34,010	December 15, 2022
Fiscal 2022
First Quarter	$	0.82	November 30, 2021	$	30,973	December 16, 2021

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, 2022		August 31, 2022
Accumulated unrealized gains (losses) on cash flow hedges, net of tax	$	9,704	$	3,149
Accumulated foreign currency translation adjustments	(102,763)		(111,532)
Total AOCL	$	(93,059)	$	(108,383)