Summary of Significant Accounting Policies (Tables)

12 Months Ended

Aug. 31, 2023

Accounting Policies [Abstract]

Allowance for Doubtful Accounts

Accounts receivable - Accounts receivable consists of receivables from customers and receivables from related parties (see Note 17 - Related Party Transactions) and is stated net of allowance for doubtful accounts of $2.8 million and $2.3 million as of August 31, 2023 and 2022, respectively.

	As of August 31,
(In millions)	2023			2022			2021
Allowance for doubtful accounts
Balance at beginning of period	$	2.3		$	2.4		$	2.7
Additions, net of reversals		0.5			0.4			0.6
Usage		(0.2	)		(0.3	)		(0.8	)
Currency translation effect		0.2			(0.2	)		(0.1	)
Balance at end of period	$	2.8		$	2.3		$	2.4

Estimated Useful Lives

Depreciation is provided on the straight-line method over estimated useful lives which primarily are as follows:

	Depreciable Life
Buildings and improvements	10 - 30 years
Machinery and equipment	3 - 20 years
Other	3 - 7 years

Components of Accumulated Other Comprehensive Loss, Net of Tax

Accumulated other comprehensive loss – Accumulated other comprehensive loss, net of tax as appropriate, consisted of the following:

(In millions)	Unrealized Gain (Loss) on Derivative Financial Instruments			Foreign Currency Translation Adjustment			Other			Accumulated Other Comprehensive Loss
Balance, August 31, 2022	$	13.0		$	(57.4	)	$	(1.2	)	$	(45.6	)
Other comprehensive income (loss) before reclassifications		23.1			25.3			(1.0	)		47.4
Amounts reclassified from accumulated other    comprehensive loss		(9.1	)		—			—			(9.1	)
Balance, August 31, 2023	$	27.0		$	(32.1	)	$	(2.2	)	$	(7.3	)

Amounts Reclassified out of Accumulated Other Comprehensive Loss

The amounts reclassified out of Accumulated other comprehensive loss into the Consolidated Statements of Income, with the financial statement caption, were as follows:

	Year Ended August 31,
(In millions)	2023			2022			2021			Financial Statement Caption
(Gain) loss on derivative financial instruments:
Foreign exchange contracts	$	(2.0	)	$	1.2		$	1.4		Revenue and Cost of revenue
Interest rate swap contracts		(10.8	)		4.9			5.3		Interest and foreign exchange
		(12.8	)		6.1			6.7		Total before tax
		3.7			(1.4	)		(1.7	)	Tax expense (benefit)
	$	(9.1	)	$	4.7		$	5.0		Net of tax

Interest and Foreign Exchange

Interest and foreign exchange - Interest includes amortization of debt issuance costs and external interest expense. Foreign exchange gains and losses includes the effects of remeasuring monetary assets and liabilities denominated in a currency other than the functional currency of the respective subsidiary.

	Year Ended August 31,
(In millions)	2023		2022		2021
Interest and foreign exchange:
Interest and other expense	$	79.2	$	55.7	$	44.7
Foreign exchange (gain) loss		6.2		1.7		(1.4	)
	$	85.4	$	57.4	$	43.3