v3.26.1
Fair Value Measures
 9 Months Ended
May 31, 2026
Fair Value Disclosures [Abstract]  
Fair Value Measures

Note 15 – Fair Value Measures

Certain assets and liabilities are reported at fair value on either a recurring or nonrecurring basis. Fair value, for this disclosure, is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, under a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value as follows:

Level 1 - observable inputs such as unadjusted quoted prices in active markets for identical instruments;

Level 2 - inputs, other than the quoted market prices in active markets for similar instruments, which are observable, either directly or indirectly; and

Level 3 - unobservable inputs for which there is little or no market data available, which require the reporting entity to develop its own assumptions.

Assets and liabilities measured at fair value on a recurring basis as of May 31, 2026 were:

(in millions)

 

Total

 

 

Level 1

 

 

Level 2 (1)

 

 

Level 3

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Derivative financial instruments

 

$

20.5

 

 

$

—

 

 

$

20.5

 

 

$

—

 

Nonqualified savings plan investments

 

 

68.7

 

 

 

68.7

 

 

 

—

 

 

 

—

 

Cash equivalents

 

 

138.6

 

 

 

138.6

 

 

 

—

 

 

 

—

 

 

$

227.8

 

 

$

207.3

 

 

$

20.5

 

 

$

—

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Derivative financial instruments

 

$

0.3

 

 

$

—

 

 

$

0.3

 

 

$

—

 

Assets and liabilities measured at fair value on a recurring basis as of August 31, 2025 were:

(in millions)

 

Total

 

 

Level 1

 

 

Level 2 (1)

 

 

Level 3

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Derivative financial instruments

 

$

19.0

 

 

$

—

 

 

$

19.0

 

 

$

—

 

Nonqualified savings plan investments

 

 

59.4

 

 

 

59.4

 

 

 

—

 

 

 

—

 

Cash equivalents

 

 

134.0

 

 

 

134.0

 

 

 

—

 

 

 

—

 

 

$

212.4

 

 

$

193.4

 

 

$

19.0

 

 

$

—

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Derivative financial instruments

 

$

3.6

 

 

$

—

 

 

$

3.6

 

 

$

—

 
(1)
Level 2 assets and liabilities include derivative financial instruments that are valued based on observable inputs. See Note 11 - Derivative Instruments to the Condensed Consolidated Financial Statements for further discussion.