Share-based Compensation (Tables)

12 Months Ended

Aug. 31, 2020

Share Based Compensation [Abstract]

Summary of RSU Activity

A summary of the Company’s RSU activity for the year ended August 31, 2020 is as follows:

	Number of Units (in thousands)			Weighted Average Grant Date Fair Value
Outstanding as of August 31, 2019		798		$	24.14
Granted		471		$	14.88
Vested		(268	)	$	22.91
Forfeited		(15	)	$	21.63
Outstanding as of August 31, 2020		986		$	20.10

Key Assumptions for a Monte-Carlo Simulation Model Utilized to Estimate the Fair Value of TSR awards

The Company estimates the fair value of TSR awards using a Monte-Carlo simulation model utilizing several key assumptions, including the following for TSR awards granted during the fiscal years ended August 31:

	2020			2019			2018
Expected share price volatility (SSI)		38.9	%		42.5	%		44.3	%
Expected share price volatility (Peer group)		44.5	%		51.4	%		55.4	%
Expected correlation to peer group companies		34.3	%		35.6	%		35.4	%
Risk-free rate of return		1.58	%		2.89	%		1.79	%

Summary of Performance-based Awards Activity

A summary of the Company’s performance-based awards activity for the year ended August 31, 2020 is as follows:

	Number of Awards (in thousands)			Weighted Average Grant Date Fair Value
Outstanding as of August 31, 2019		773		$	25.49
Granted		338		$	21.32
Performance achievement(1)		199		$	20.84
Vested		(485	)	$	21.24
Forfeited		(27	)	$	24.11
Outstanding as of August 31, 2020		798			25.19

(1) Reflects the net number of awards achieved above target levels based on actual performance measured at the end of the performance period.