Summary of Significant Accounting Policies (Tables)

12 Months Ended

Aug. 31, 2021

Summary of Significant Accounting Policies

Schedule of estimated useful lives of property, plant and equipment

Buildings and improvements	15	to	40	years
Machinery and equipment	3	to	10	years

Schedule of weighted average assumptions used to estimate the fair value of options granted on the date of grant using the Black-Scholes option pricing model

	2021		2020		2019
Expected dividend yield	0.7	%	0.7	%	0.7	%
Expected life	6.0	years	6.0	years	6.0	years
Expected volatility	39.5	%	31.0	%	31.4	%
Risk-free interest rate	0.4	%	1.4	%	2.7	%