v3.25.2
Stockholders' Equity (Tables)
 9 Months Ended
May 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Recognized Stock-based Compensation Expense
The Company recognized stock-based compensation expense within selling, general and administrative expense as follows (in millions):
 Three months endedNine months ended
 May 31, 2025May 31, 2024May 31, 2025May 31, 2024
Restricted stock units$14 $(2)$69 $58 
Employee stock purchase plan5 5 15 14 
Total$19 $3 $84 $72 
Schedule of Share-based Compensation Information
The following represents the stock-based compensation information as of the period indicated (in millions):
 May 31, 2025
Unrecognized stock-based compensation expense – restricted stock units$73 
Remaining weighted-average period for restricted stock units expense1.5 years
Schedule of Common Stock Outstanding
The following represents the common stock outstanding for the periods indicated:
Three months endedNine months ended
May 31, 2025May 31, 2024May 31, 2025May 31, 2024
Common stock outstanding:
Beginning balances
109,539,804 122,440,607 113,744,167 131,294,422 
Shares issued under employee stock purchase plan
— — 355,851 338,316 
Vesting of restricted stock
938 21,550 1,089,969 1,791,066 
Purchases of treasury stock under employee stock plans
(297)(7,512)(324,288)(534,335)
Treasury shares purchased(2,221,608)(3,733,966)(7,546,862)(14,168,790)
Ending balances
107,318,837 118,720,679 107,318,837 118,720,679 
Schedule of Repurchase of Common Stock under Share Repurchase Program and Common Stock Repurchased through Open Market
The Company repurchases shares of its common stock under share repurchase programs authorized by the Company’s Board of Directors. The following Board approved share repurchase programs were executed through a combination of open market transactions and accelerated share repurchase (“ASR”) agreements (in millions):
Board Approval DateAmount AuthorizedShares RepurchasedTotal Cash UtilizedRemaining AuthorizationAuthorization Completion Date
2022 Share Repurchase ProgramQ4 FY 2021$1,000 16.5$1,000 $— Q2 FY 2023
2023 Share Repurchase ProgramQ1 FY 2023$1,000 2.7$224 
(1)
Q4 FY 2023
Amended 2023 Share Repurchase Program(2)
Q1 FY 2024$2,500 20.4$2,500 $— Q1 FY 2025
2025 Share Repurchase Program(3)
Q1 FY 2025$1,000 6.5$975 $25 
(1)In September 2023, the Board of Directors amended and increased the 2023 Share Repurchase Program to allow for the repurchase of up to $2.5 billion of the Company’s common stock.
(2)In September 2024, an ASR transaction was completed, and 1.0 million additional shares were delivered under the Q4 FY 2024 ASR agreements. As of November 30, 2024, no authorization remained under the amended 2023 Share Repurchase Program.
(3)As of May 31, 2025, 6.5 million shares had been repurchased for $975 million and $25 million remained available under the 2025 Share Repurchase Program.
In addition, the Company repurchased shares of its common stock through the open market as follows (in millions):
Three months endedNine months ended
May 31, 2025May 31, 2024May 31, 2025May 31, 2024
SharesCostSharesCostSharesCostSharesCost
Open market share repurchases0.2$30 3.8$499 2.7$356 10.3$1,324 
Schedule of Accelerated Share Repurchases Agreement
The terms of ASR agreements, structured as outlined above, were as follows (in millions, except average price):
Agreement Execution DateAgreement Settlement DateAgreement AmountInitial Shares DeliveredAdditional Shares DeliveredTotal Shares DeliveredAverage Price Paid Per Share
Q1 FY 2024Q1 FY 2024$500 3.30.63.9$128.61 
Q4 FY 2024Q1 FY 2025$555 4.21.05.2$107.08 
Q2 FY 2025Q3 FY 2025(1)$310 1.80.22.0$154.44 
Q3 FY 2025Q4 FY 2025$309 1.8(2)(2)$135.99 
(1)In December 2024, as part of the 2025 Share Repurchase Program, the Company entered into ASR agreements to repurchase $310 million, excluding excise tax, of the Company’s common stock. Under the ASR agreements, the Company made payments of $310 million to participating financial institutions and received an initial delivery of shares of common stock. In March 2025, the ASR transaction was completed, and 0.2 million additional shares were delivered under the Q2 FY 2025 ASR agreements.
(2)In March 2025, as part of the 2025 Share Repurchase Program, the Company entered into ASR agreements to repurchase $309 million, excluding excise tax, of the Company’s common stock. Under the ASR agreements, the Company made payments of $309 million to participating financial institutions and received an initial delivery of shares of common stock. The delivery of any remaining shares will occur at the final settlement of the transactions under the ASR agreements.
Schedule Of Warrants Valuation Assumptions
The estimated fair value of the Warrant was determined as of the issuance date, using the Black-Scholes option pricing model. The following assumptions were used in the model:
December 27, 2024
Stock price$145.92
Exercise price$137.77
Expected life7.0 years
Expected volatility(1)
34.4 %
Risk-free interest rate4.5 %
(1)The expected volatility was estimated using the historical volatility derived from the Company’s common stock.
Schedule Of Warrants Activity
The following table summarizes the Warrant activity for the nine months ended May 31, 2025:
Warrant Shares
Outstanding as of August 31, 2024
— 
Changes during the period
Shares granted1,158,539 
Shares vested(59,582)
Outstanding as of May 31, 2025
1,098,957 
Exercisable as of May 31, 2025
59,582