Earnings Per Share (Tables)

9 Months Ended

May 27, 2023

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Income Per Share

Basic and diluted earnings per share are calculated as follows:

	Three Months Ended				Nine Months Ended
(in millions, except per share data)	May 27, 2023		May 28, 2022		May 27, 2023		May 28, 2022
Earnings per share - basic
Net income	$	59.1	$	117.2	$	172.1	$	308.0
Weighted average common shares outstanding	30.4		32.4		30.4		32.9
Basic earnings per common share(1)	$	1.95	$	3.62	$	5.66	$	9.35
Earnings per share - diluted
Net income	$	59.1	$	117.2	$	172.1	$	308.0
Interest expense on convertible notes, net of tax	1.2		—		3.6		—
Diluted net income	$	60.3	$	117.2	$	175.7	$	308.0
Weighted average common shares outstanding	30.4		32.4		30.4		32.9
Dilutive impact of stock compensation awards	0.3		0.5		0.4		0.5
Dilutive impact of convertible notes	4.7		—		4.7		0.2
Weighted average common shares outstanding, assuming dilution	35.4		32.9		35.5		33.6
Anti-dilutive securities excluded from weighted average common shares outstanding, assuming dilution	0.1		0.2		0.1		0.2
Diluted earnings per common share(1)	$	1.71	$	3.57	$	4.95	$	9.18

(1)    Earnings per share amounts are calculated based on unrounded numbers and therefore may not recalculate using the rounded numbers provided.