Income Taxes (Tables)

12 Months Ended

Aug. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

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

	Year Ended August 31,
	2021		2020		2019
Provision for current federal taxes	$	65.4	$	54.6	$	60.3
Provision for current state taxes	12.8		12.5		14.7
Provision for current foreign taxes	14.4		16.0		10.2
(Benefit) provision for deferred taxes	(2.7)		(6.7)		9.3
Total provision for income taxes	$	89.9	$	76.4	$	94.5

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,
	2021		2020		2019
Federal income tax computed at statutory rate	$	83.2	$	68.2	$	89.2
State income tax, net of federal income tax benefit	10.7		9.7		12.2
Foreign permanent differences and rate differential	2.4		2.4		2.1
Discrete income tax benefits of the U.S. Tax Cuts and Jobs Act	—		—		(2.2)
Research and development tax credits	(7.6)		(7.1)		(18.1)
Unrecognized tax benefits	0.7		1.8		12.2
Other, net	0.5		1.4		(0.9)
Total provision for income taxes	$	89.9	$	76.4	$	94.5

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,
	2021		2020
Deferred income tax liabilities:
Depreciation	$	(19.0)	$	(23.3)
Goodwill and intangibles	(155.2)		(153.1)
Operating lease right of use asset	(14.3)		(15.6)
Other liabilities	(8.2)		(5.3)
Total deferred income tax liabilities	(196.7)		(197.3)
Deferred income tax assets:
Self-insurance	1.8		2.1
Pension	9.9		22.2
Deferred compensation	21.3		22.2
Net operating losses	5.4		5.6
Other accruals not yet deductible	41.3		32.0
Operating lease liabilities	15.4		18.2
Other assets	12.0		9.3
Total deferred income tax assets	107.1		111.6
Valuation allowance	(9.5)		(6.5)
Net deferred income tax liabilities	$	(99.1)	$	(92.2)

Schedule of Change in Unrecognized Income Tax Benefit

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,
	2021		2020		2019
Unrecognized tax benefits balance at beginning of year	$	17.2	$	16.6	$	4.4
Additions based on tax positions related to the current year	5.2		2.3		2.0
Additions for tax positions of prior years	0.1		—		10.9
Reductions for tax positions of prior years	(0.1)		(0.4)		—
Reductions due to settlements	(4.6)		(1.2)		—
Reductions due to lapse of statute of limitations	(0.1)		(0.1)		(0.7)
Unrecognized tax benefits balance at end of year	$	17.7	$	17.2	$	16.6