0001437749-17-012413 | 10-Q | XBRL Viewer | Factset Research Systems INC

Fair Value, Measurement Inputs, Disclosure [Text Block]

FAIR VALUE MEASURES

Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, the use of various valuation methodologies, including market, income and cost approaches is permissible. The Company considers the principal or most advantageous market in which it would transact and considers assumptions that market participants would use when pricing the asset or liability.

Fair Value Hierarchy

The accounting guidance for fair value measurements establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. There are

three

levels of inputs that

may

be used to measure fair value based on the reliability of inputs. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment and

may

affect their placement within the fair value hierarchy levels. FactSet has categorized its cash equivalents, investments and derivatives within the fair value hierarchy as follows:

Level

– applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. These Level

assets and liabilities include the Company’s corporate money market funds that are classified as cash equivalents.

Level

– applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. The Company’s certificates of deposit, mutual funds and derivative instruments are classified as Level

Level

– applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. There were

Level

assets or liabilities held by the Company as of

May 31, 2017

August 31, 2016.

(

) Asse

and Liabilities Measured at

Fair Value on a Recurring Basis

The following tables shows by level within the fair value hierarchy the Company’s assets and liabilities that are measured at fair value on a recurring basis at

May 31, 2017

and

August 31, 2016:

	Fair Value Measurements at May 31, 2017
(in thousands)	Level 1		Level 2		Level 3		Total
Assets
Corporate money market funds (1)	$	22,106	$	—	$	—	$	22,106
Mutual funds (2)		—		15,542		—		15,542
Certificates of deposit ( 3 )		—		16,385		—		16,385
Derivative instruments (4 )		—		5,468		—		5,468
Total assets measured at fair value	$	22,106	$	37,396	$	—	$	59,502

Liabilities
Derivative instruments ( 4 )	$	—	$	596	$	—	$	596
Total liabilities measured at fair value	$	—	$	596	$	—	$	596

	Fair Value Measurements at August 31, 2016
(in thousands)	Level 1		Level 2		Level 3		Total
Assets
Corporate money market funds (1)	$	92,765	$	—	$	—	$	92,765
Certificates of deposit ( 3 )		—		24,217		—		24,217
Derivative instruments ( 4 )		—		869		—		869
Total assets measured at fair value	$	92,765	$	25,086	$	—	$	117,851

Liabilities
Derivative instruments ( 4 )	$	—	$	2,791	$	—	$	2,791
Total liabilities measured at fair value	$	—	$	2,791	$	—	$	2,791

(

)

The Company’s corporate money market funds are traded in an active market and the net asset value of each fund on the last day of the quarter is used to determine its fair value. As such, the Company’s corporate money market funds are classified as Level

and included in cash and cash equivalents on

the Consolidated Balance Sheets.

(

)

The

Company’s mutual funds have a fair value

based on the fair value of the underlying investments held by the mutual funds allocated to each share of the mutual fund using a net asset value approach

The fair value of the underlying investments is based on observable inputs

As such, the Company’s

mutual funds

are classified as Level

and are classified as i

nvestments (short-term) on the Consolidated Balance S

heet

(

)

The Company’s certificates of deposit held for investment are

not

debt securities and are classified as Level

These certificates of deposit have original maturities greater than

three

months, but less than

one

year and, as such, are classified as i

nvestments (short-term) on the Consolidated Balance S

heet

(

)

The Company utilizes the income approach to measure fair value for its derivative instruments (

foreign currency forward contracts

). The income approach uses pricing models that rely on market observable inputs such as spot, forward and interest rates, as well as credit default swap spreads and therefore are classified as Level

The Company did

not

have any transfers between Level

and Level

fair value measurements during the periods presented.

(b) Assets and Liabilities Measured at Fair Value on a Non-recurring Basis

Certain assets, including goodwill and intangible assets, and liabilities, are measured at fair value on a non-recurring basis; that is, the assets and liabilities are

not

measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances such as when they are deemed to be other-than-temporarily impaired. The fair values of these non-financial assets and liabilities are determined based on valuation techniques using the best information available, and

may

include quoted market prices, market comparables, and discounted cash flow projections. An impairment charge is recorded when the cost exceeds its fair value, based upon the results of such valuations. During the

nine

months ended

May 31, 2017,

fair value adjustments or material fair value measurements were required for the Company’s non-financial assets or liabilities.

(c)

Assets and Liabilities Measured at Fair Value for Disclosure Purposes only

As of

May 31, 2017

and

August 31, 2016,

the fair value of the Company’s long-term debt was

$575.0

million and

$300.0

million, respectively, which approximated its carrying amount given its floating interest rate basis. The fair value of the Company’s long-term debt was determined based on quoted market prices for debt with a similar maturity, and thus categorized as Level

in the fair value hierarchy.

Note 5 - Derivative Instruments

9 Months Ended

May 31, 2017

Derivative Instruments and Hedging Activities Disclosure [Text Block]

. DERIVATIVE INSTRUMENTS

Cash Flow Hedges

FactSet conducts business outside the U.S. in several currencies including the British Pound Sterling, Euro, Indian Rupee, Japanese Yen and Philippine Peso. As such, it is exposed to movements in foreign currency exchange rates compared to the U.S. dollar. The Company utilizes derivative instruments (foreign currency forward contracts) to manage the exposures related to the effects of foreign exchange rate fluctuations and reduce the volatility of earnings and cash flows associated with changes in foreign currency. The Company does

not

enter into foreign currency forward contracts for trading or speculative purposes. In designing a specific hedging approach, FactSet considered several factors, including offsetting exposures, the significance of exposures, the forecasting of risk and the potential effectiveness of the hedge. The gains and losses on foreign currency forward contracts offset the variability in operating expenses associated with currency movements. The changes in fair value for these foreign currency forward contracts are initially reported as a component of accumulated other comprehensive loss (“AOCL”) and subsequently reclassified into operating expenses when the hedged exposure affects earnings. There was

discontinuance of cash flow hedges during the

first

nine

months of fiscal

2017

and

2016,

and as such,

corresponding gains or losses related to changes in the value of the Company’s contracts were reclassified into earnings prior to settlement.

As of

May 31, 2017,

FactSet maintained the following foreign currency forward contracts to hedge its exposures:

●

British Pound

Sterling

foreign currency forward contracts to hedge approximately

50%

of its British Pound Sterling exposure through the

fourth

quarter of fiscal

2017.

●

Indian Rupee

- foreign currency forward contracts to hedge approximately

75%

of its Indian Rupee exposure through the

third

quarter of fiscal

2019.

The following is a summary of all hedging positions and corresponding fair values:

(in thousands)	Gross Notional Value				Fair Value (Liability) Asset
Currency Hedged (in U.S. dollars)	May 31, 2017		August 31, 2016		May 31, 2017			August 31, 2016
British Pound Sterling	$	7,560	$	33,280	$	(596	)	$	(2,791	)
Indian Rupee		56,520		58,410		5,468			869
Total	$	64,080	$	91,690	$	4,872		$	(1,922	)

As of

May 31, 2017,

the gross notional value of foreign currency forward contracts to purchase British Pound Sterling with U.S. dollars was

£5.4

million. The gross notional value of foreign currency forward contracts to purchase Indian Rupees with U.S. dollars was Rs.

4.2

billion.

Counterparty Credit Risk

As a result of the use of derivative instruments, the Company is exposed to counterparty credit risk. FactSet has incorporated counterparty risk into the fair value of its derivative assets and its own credit risk into the value of the Company’s derivative liabilities. FactSet calculates credit risk from observable data related to credit default swaps (“CDS”) as quoted by publicly available information. Counterparty risk is represented by CDS spreads related to the senior secured debt of the respective bank with whom FactSet has executed these derivative transactions. Because CDS spread information is

not

available for FactSet, the Company’s credit risk is determined based on using a simple average of CDS spreads for peer companies. To mitigate counterparty credit risk, FactSet enters into contracts with large financial institutions and regularly reviews its credit exposure balances as well as the creditworthiness of the counterparties. The Company does

not

expect any losses as a result of default of its counterparties.

Fair Value of Derivative Instruments

The following table provides the fair value of derivative instruments:

(in thousands)
Designation of Derivatives	Balance Sheet Location	May 31, 2017		August 31, 2016
Derivatives designated as hedging instruments	Assets: Foreign Currency Forward Contracts
	Prepaid expenses and other current assets	$	2,738	$	163
	Other assets	$	2,730	$	706
	Liabilities: Foreign Currency Forward Contracts
	Accounts payable and accrued expenses	$	596	$	2,791

All derivatives were designated as hedging instruments as of

May 31, 2017

and

August 31, 2016,

respectively.

Derivatives in Cash Flow Hedging Relationships

The following table provides the pre-tax effect of derivative instruments in cash flow hedging relationships for the

three

months ended

May 31, 2017

and

2016:

(in thousands)	Gain Recognized in AOCL on Derivatives (Effective Portion)				Location of Loss Reclassified from AOCL into Income (Effective Portion)	Loss Reclassified from AOCL into Income (Effective Portion)
Derivatives in Cash Flow Hedging Relationships	2017		2016			2017			2016
Foreign currency forward contracts	$	3,467	$	3,900	SG&A	$	(403	)	$	(12	)

The following table provides the pre-tax effect of derivative instruments in cash flow hedging relationships for the

nine

months ended

May 31, 2017

and

2016:

(in thousands)	Gain Recognized in AOCL on Derivatives (Effective Portion)				Location of Loss Reclassified from AOCL into Income (Effective Portion)	(Loss) Gain Reclassified from AOCL into Income (Effective Portion)
Derivatives in Cash Flow Hedging Relationships	2017		2016			2017			2016
Foreign currency forward contracts	$	4,006	$	404	SG&A	$	(2,788	)	$	40

amount of ineffectiveness was recorded in the Consolidated Statements of Income for these designated cash flow hedges and all components of each derivative’s gain or loss was included in the assessment of hedge effectiveness. As of

May 31, 2017,

FactSet estimates that approximately

$2.1

million of net derivative gains related to its cash flow hedges included in AOCL will be reclassified into earnings within the next

months.

Offsetting of Derivative Instruments

FactSet’s master netting and other similar arrangements with its respective counterparties allow for net settlement under certain conditions. As of

May 31, 2017

and

August 31, 2016,

there were

net settlements recorded on Consolidated Balance Sheets.

Note 6 - Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss

9 Months Ended

May 31, 2017

Comprehensive Income (Loss) Note [Text Block]

OTHER COMPREHENSIVE INCOME (LOSS)

AND ACCUMULATED OTHER COMPREHENSIVE LOSS

The components of other comprehensive income and amounts reclassified out of AOCL into earnings during the

three

months ended

May 31, 2017

and

2016

are as follows:

	May 31, 2017				May 31, 2016
(in thousands)	Pre-tax		Net of tax		Pre-tax		Net of tax
Foreign currency translation adjustments	$	21,316	$	21,316	$	8,883	$	8,883
Realized loss on cash flow hedges reclassified to earnings (1)		403		247		12		7
Unrealized gain on cash flow hedges recognized in AOCL		3,467		2,138		3,900		2,457
Other comprehensive income	$	25,186	$	23,701	$	12,795	$	11,347

(

)

Reclassified to Selling, General and Administrative Expenses

The components of other comprehensive income (loss) and amounts reclassified out of AOCL into earnings during the

nine

months ended

May 31, 2017

and

2016

are as follows:

	May 31, 2017				May 31, 2016
(in thousands)	Pre-tax		Net of tax		Pre-tax			Net of tax
Foreign currency translation adjustments	$	10,680	$	10,680	$	(7,867	)	$	(7,867	)
Realized loss (gain) on cash flow hedges reclassified to earnings (1)		2,788		1,755		(40	)		(25	)
Unrealized gain on cash flow hedges recognized in AOCL		4,006		2,478		404			254
Other comprehensive income ( loss )	$	17,474	$	14,913	$	(7,503	)	$	(7,638	)

(

)

Reclassified to Selling, General and Administrative Expenses

The components of AOCL are as follows:

(in thousands)	May 31, 2017			August 31, 2016
Accumulated unrealized gains (losses) on cash flow hedges, net of tax	$	3,018		$	(1,215	)
Accumulated foreign currency translation adjustments		(56,658	)		(67,338	)
Total accumulated other comprehensive loss	$	(53,640	)	$	(68,553	)

Note 7 - Segment Information

9 Months Ended

May 31, 2017

Segment Reporting Disclosure [Text Block]

. SEGMENT

INFORMATION

Operating segments are defined as components of an enterprise that engage in business activities from which they

may

earn revenues and incur expenses, whose operating results are regularly reviewed by the enterprise’s chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance, and for which discrete financial information is available. Financial information at the operating segment level is reviewed jointly by the Chief Executive Officer (“CEO”) and senior management. Senior management consists of executives who directly report to the CEO, consisting of the Chief Financial Officer, Chief Operating Officer, Global Head of Sales and Client Solutions, General Counsel and Chief Human Resources Officer. Senior management, along with the CEO, constitute FactSet’s chief operating decision making group (“CODMG”) and is responsible for making decisions about resources allocated amongst the operating segments based on actual results.

FactSet’s operating segments are aligned with how the Company, including its CODMG, manages the business and the demographic markets in which FactSet serves. The Company’s internal financial reporting structure is based on

three

segments; the U.S., Europe and Asia Pacific. FactSet believes this alignment helps it better manage the business and view the markets the Company serves, which are centered on providing integrated global financial and economic information. Sales, consulting, data collection, product development and software engineering are the primary functional groups within the U.S., Europe and Asia Pacific segments that provide global financial and economic information to investment managers, investment banks and other financial services professionals. Effective

September 1, 2016,

FactSet realigned certain aspects of its global operations from its U.S. parent company to FactSet UK Limited, a U.K. operating company, to better position FactSet to serve its growing client base outside the U.S. While this realignment allows the Company to further implement strategic corporate objectives and helps achieve operational and financial efficiencies, it does

not

impact how the CODMG analyzes business performance within the segments.

The U.S. segment services finance professionals including financial institutions throughout the Americas, while the European and Asia Pacific segments service professionals and institutions located throughout Europe and the Asia Pacific region, respectively. The European segment is headquartered in London, England and maintains office locations in France, Germany, Ireland, Italy, Latvia, Luxembourg, the Netherlands, Spain, South Africa, Sweden, Switzerland and Dubai. The Asia Pacific segment is headquartered in Tokyo, Japan with office locations in Australia, Hong Kong, Singapore and India. Segment revenues reflect direct sales to clients based in their respective geographic locations. Each segment records compensation expense, including stock-based compensation, amortization of intangible assets, depreciation of furniture and fixtures, amortization of leasehold improvements, communication costs, professional fees, rent expense, travel, marketing, office and other direct expenses. Expenditures associated with the Company’s data centers,

third

party data costs and corporate charges are recorded by the U.S. segment and are

not

allocated to the other segments. The content collection centers located in India and the Philippines benefit all of the Company’s operating segments and thus the expenses incurred at these locations are allocated to each segment based on a percentage of revenues. Of the total

$695.7

million of goodwill reported by the Company at

May 31, 2017,

55%

was recorded in the U.S. segment,

44%

in the European segment and the remaining

in the Asia Pacific segment.

The following reflects the results of operations of the segments consistent with the Company’s management system. These results are used by management, both in evaluating the performance of, and in allocating resources to, each of the segments.

(in thousands) For the three months ended May 31, 2017	U.S.		Europe		Asia Pacific		Total
Revenues from clients	$	197,834	$	87,327	$	26,959	$	312,120
Segment operating profit		34,382		37,766		15,494		87,642
Total assets		708,440		555,366		94,208		1,358,014
Capital expenditures		6,211		515		1,210		7,936

For the three months ended May 31, 2016	U.S.		Europe		Asia Pacific		Total
Revenues from clients	$	193,166	$	70,243	$	24,092	$	287,501
Segment operating profit		42,020		33,304		13,966		89,290
Total assets		696,832		264,910		77,233		1,038,975
Capital expenditures		6,060		913		1,260		8,233

For the nine months ended May 31, 2017	U.S.		Europe		Asia Pacific		Total
Revenues from clients	$	580,090	$	235,464	$	78,983	$	894,537
Segment operating profit		110,574		114,282		44,851		269,707
Capital expenditures		21,311		1,176		3,494		25,981

For the nine months ended May 31, 2016	U.S.		Europe		Asia Pacific		Total
Revenues from clients	$	565,063	$	206,198	$	68,540	$	839,801
Segment operating profit		127,479		95,536		38,927		261,942
Capital expenditures		29,133		2,181		3,357		34,671

Note 8 - Business Combinations

9 Months Ended

May 31, 2017

Business Combination Disclosure [Text Block]

BUSINESS COMBINATIONS

BISAM

March 17, 2017,

FactSet acquired BI-SAM Technologies (“BISAM”) for a total purchase price of

$216.9

million. BISAM is a global provider of portfolio performance and attribution, multi-asset risk, GIPS composites management and reporting. BISAM’s product offerings include B-One, BISAM’s cross-asset solution, which will serve as a complement to both FactSet’s portfolio analytics suite and client reporting solutions, and Cognity, which enhances FactSet’s risk analysis for derivatives and quantitative portfolio construction. These factors contributed to a purchase price in excess of fair value of BISAM’s net tangible and intangible assets, leading to the recognition of goodwill. At the time of acquisition, BISAM employed over

160

employees based primarily in its New York, Boston, Paris, London and Sofia offices. Total transaction costs related to the acquisition were

$3.2

million in fiscal

2017

and were recorded within Selling, General and Administrative (“SG&A”) expenses in the Consolidated Statements of Income.

Allocation of the purchase price to the assets acquired and liabilities assumed was

not

yet finalized as of

May 31, 2017

as it is subject to finalizing identified intangibles assets and income taxes, in addition to working capital adjustments. The preliminary purchase price was allocated to BISAM’s net tangible and intangible assets based upon their estimated fair value as of the date of acquisition. Based upon the purchase price and preliminary valuation, the allocation is as follows:

(i n thousands )
Tangible assets acquired	$	27,642
Amortizable intangible assets
Software technology		18,261
Client relationships		37,597
Trade name		741
Goodwill		174,024
Total assets acquired	$	258,265
Liabilities assumed		(41,372	)
Net assets acquired	$	216,893

Intangible assets of

$56.6

million have been allocated to amortizable intangible assets consisting of client relationships, amortized over

years using an accelerated amortization method; software technology, amortized over

five

years using a straight-line amortization method; and a trade name, amortized over

four

years using a straight-line amortization method.

Goodwill totaling

$174.0

million represents the excess of the purchase price over the fair value of the net tangible and intangible assets acquired. Goodwill generated from the BISAM acquisition is included in the US and European segments and is

not

deductible for income tax purposes. The results of operations of BISAM have been included in the Company’s Consolidated Statements of Income since the completion of the acquisition on

March 17, 2017.

Pro forma information has

not

been presented because the effect of the BISAM acquisition is

not

material to the Company’s consolidated financial results.

Vermilion

November 8, 2016,

FactSet acquired Vermilion Holdings Limited (“Vermilion”) for a total purchase price of

$67.9

million. Vermilion is a global provider of client reporting and communications software and services to the financial services industry. Client reporting is a growing area of the market as regulatory requirements rise and with the acquisition of Vermilion and its Vermilion Reporting Suite (“VRS”), FactSet now offers a workflow around all elements of the client reporting process, which it expects will expand as investors grow increasingly sophisticated. This factor contributed to a purchase price in excess of fair value of Vermilion’s net tangible and intangible assets, leading to the recognition of goodwill. At the time of acquisition, Vermilion employed

individuals in its London, Boston and Singapore offices. Total transaction costs related to the acquisition were

$0.7

million and recorded within SG&A expenses in the Consolidated Statements of Income.

The total purchase price was allocated to Vermilion’s net tangible and intangible assets based upon their estimated fair value as of the date of acquisition. Based upon the purchase price and the valuation, the allocation is as follows:

(i n thousands )
Tangible assets acquired	$	8,242
Amortizable intangible assets
Software technology		10,916
Client relationships		5,954
Non-compete agreements		806
Trade name		571
Goodwill		50,832
Total assets acquired	$	77,321
Liabilities assumed		(9,434	)
Net assets acquired	$	67,887

Intangible assets of

$18.2

million have been allocated to amortizable intangible assets consisting of client relationships, amortized over

years using an accelerated amortization method; software technology, amortized over

six

years using a straight-line amortization method; non-compete agreements, amortized over

three

years using a straight-line amortization method; and a trade name, amortized over

four

years using a straight-line amortization method.

Goodwill totaling

$50.8

million represents the excess of the purchase price over the fair value of the net tangible and intangible assets acquired. Goodwill generated from the Vermilion acquisition is included in the European segment and is

not

deductible for income tax purposes. The results of operations of Vermilion have been included in the Company’s Consolidated Statements of Income since the completion of the acquisition on

November 8, 2016.

Pro forma information has

not

been presented because the effect of the Vermilion acquisition is

not

material to the Company’s consolidated financial results.

Portware

October 16, 2015,

FactSet acquired Portware LLC (“Portware”) for a total purchase price of

$263.6

million. Portware is a global provider of multi-asset trade automation solutions for mega and large asset managers. With the acquisition of Portware, FactSet began to offer a platform that it expects will increase value to global asset managers by expanding its capabilities to include multi-asset trade automation. This factor contributed to a purchase price in excess of fair value of Portware’s net tangible and intangible assets, leading to the recognition of goodwill. At the time of acquisition, Portware employed

166

individuals in its New York, London, Hong Kong, and Hyderabad offices. Total transaction costs related to the acquisition were

$0.7

million in fiscal

2016

and were recorded within SG&A expenses in the Consolidated Statements of Income.

The total purchase price was allocated to Portware’s net tangible and intangible assets based upon their estimated fair value as of the date of acquisition. Based upon the purchase price and the valuation, the allocation is as follows:

(i n thousands )
Tangible assets acquired	$	9,656
Amortizable intangible assets
Software technology		43,000
Client relationships		27,000
Non-compete agreements		3,500
Trade name		2,000
Goodwill		187,378
Total assets acquired	$	272,534
Liabilities assumed		(8,951	)
Net assets acquired	$	263,583

Intangible assets of

$75.5

million have been allocated to amortizable intangible assets consisting of client relationships, amortized over

years using an accelerated amortization method; software technology, amortized over

eight

years using a straight-line amortization method; non-compete agreements, amortized over

seven

years using a straight-line amortization method; and a trade name, amortized over

five

years using a straight-line amortization method.

Goodwill totaling

$187.4

million represents the excess of the purchase price over the fair value of the net tangible and intangible assets acquired and is included in the U.S. segment. Approximately

77%

of the total goodwill generated from the Portware acquisition is deductible for income tax purposes. The results of operations of Portware have been included in the Company’s Consolidated Statements of Income since the completion of the acquisition on

October 16, 2015.

Pro forma information has

not

been presented because the effect of the Portware acquisition is

not

material to the Company’s consolidated financial results.

Note 9 - Dispositions	9 Months Ended
Note 9 - Dispositions	May 31, 2017
Notes to Financial Statements
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	9 . DISPOSITIONS During the third quarter of fiscal 2016, the Company entered into a definitive stock purchase agreement (the “Purchase Agreement”) pursuant to which the Company agreed to sell its market research business, consisting of Market Metrics LLC and Matrix-Data Limited (collectively “Market Metrics” or the “disposal group”) and associated assets (the “Transaction”). On July 1, 2016, FactSet completed the Transaction and received $165.0 million in cash, less estimated working capital and certain adjustments set forth in the Purchase Agreement, including a $9.7 million bonus adjustment amount. The Company recognized a pre-tax gain on the sale of $112.5 million in fourth quarter of fiscal 2016. In the second quarter of fiscal 2017, the Company finalized the working capital adjustment and recognized a pre-tax loss of $1.2 million in Other Expense in the Consolidated Statements of Income. The Company assessed the Transaction and the disposal group and determined that the sale did not represent a strategic shift in its business that has a major effect on its consolidated results of operations, financial position or cash flows. Accordingly, the disposal group was not presented in the consolidated financial statements as a discontinued operation. The results of the disposal group through the date the Transaction closed were reported within the U.S. segment (for Market Metrics LLC) and the European segment (for Matrix-Data Limited).

Note 10 - Goodwill

9 Months Ended

May 31, 2017

Goodwill Disclosure [Text Block]

. GOODWILL

Changes in the carrying amount of goodwill by segment for the

nine

months ended

May 31, 2017

are as follows:

(i n thousands )	U.S.		Europe		Asia Pacific			Total
Balance at August 31, 2016	$	367,480	$	82,280	$	3,155		$	452,915
Goodwill acquired during the period		18,233		215,822		—			234,055
Foreign currency translations		—		8,901		(204	)		8,697
Balance at May 31, 2017	$	385,713	$	307,003	$	2,951		$	695,667

Goodwill is

not

amortized as it is estimated to have an indefinite life. At least annually, the Company is required to test goodwill at the reporting unit level for potential impairment, and, if impaired, write down to fair value based on the present value of discounted cash flows. The Company’s reporting units evaluated for potential impairment were the U.S., Europe and Asia Pacific, which reflect the level of internal reporting the Company uses to manage its business and operations. The

three

reporting units are consistent with the operating segments reported as there is

discrete financial information available for the subsidiaries within each operating segment. The Company performed its annual goodwill impairment test during the

fourth

quarter of fiscal

2016,

consistent with the timing of previous years, at which time it was determined that there was

impairment, with the fair value of each of the Company’s reporting units significantly exceeding carrying value. During the

first

nine

months of fiscal

2017,

the Company acquired goodwill of

$234.1

million representing the excess of the purchase price over the fair value of the net tangible and intangible assets from acquisitions.

Note 11 - Intangible Assets

9 Months Ended

May 31, 2017

Intangible Assets Disclosure [Text Block]

. INTANGIBLE ASSETS

FactSet’s identifiable intangible assets consist of acquired content databases, client relationships, software technology, non-compete agreements and trade names resulting from acquisitions, which have been fully integrated into the Company’s operations. The weighted average useful life of FactSet’s acquired identifiable intangible assets at

May 31, 2017

was

11.5

years. The Company amortizes intangible assets over their estimated useful lives, which are evaluated quarterly to determine whether events and circumstances warrant a revision to the remaining period of amortization. There have been

changes to the estimate of the remaining useful lives during the

first

nine

months of fiscal

2017.

Amortizable intangible assets are tested for impairment, if indicators of impairment are present, based on undiscounted cash flows, and, if impaired, written down to fair value based on discounted cash flows.

impairment of intangible assets has been identified during any of the periods presented. The intangible assets have

assigned residual values.

During the

nine

months ended

May 31, 2017,

$92.8

million of intangible assets were acquired with a weighted average useful life of

11.5

years. The gross carrying amounts and accumulated amortization totals related to the Company’s identifiable intangible assets are as follows:

At May 31, 2017 (in thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Data content	$	33,393	$	17,917	$	15,476
Client relationships		97,322		20,291		77,031
Software technology		104,315		27,445		76,870
Non-compete agreements		4,779		1,303		3,476
Trade names		4,041		1,360		2,681
Total	$	243,850	$	68,316	$	175,534

At August 31, 2016 (in thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Data content	$	34,167	$	16,758	$	17,409
Client relationships		45,185		16,480		28,705
Software technology		62,560		20,545		42,015
Non-compete agreements		4,344		1,118		3,226
Trade names		2,728		922		1,806
Total	$	148,984	$	55,823	$	93,161

Amortization expense recorded for intangible assets was

$5.8

million and

$4.1

million for the

three

months ended

May 31, 2017

and

2016,

respectively. Amortization expense recorded for intangible assets was

$13.8

million and

$11.1

million for the

nine

months ended

May 31, 2017

and

2016,

respectively. As of

May 31, 2017,

estimated intangible asset amortization expense for each of the next

five

years and thereafter is as follows:

Fiscal Year (in thousands)	Estimated Amortization Expense
2017 (remaining three months)	$	6,108
2018		23,989
2019		23,148
2020		22,489
2021		20,927
Thereafter		78,873
Total	$	175,534

Note 12 - Common Stock and Earnings Per Share

9 Months Ended

May 31, 2017

Earnings Per Share [Text Block]

. COMMON STOCK AND EARNINGS PER SHARE

May 5, 2017,

FactSet’s Board of Directors approved a regular quarterly dividend of

$0.56

per share, or

$2.24

per share per annum. The cash dividend of

$22.0

million was paid on

June 20, 2017

to common stockholders of record at the close of business on

May 31, 2017.

Shares of common stock outstanding were as follows:

	Nine months ended
(i n thousands)	May 31, 2017			May 31, 2016
Balance at September 1		40,038			41,317
Common stock issued for employee stock plans		585			579
Repurchase of common stock from employees (1)		(37	)		(20	)
Repurchase of common stock under the share repurchase program		(1,285	)		(1,220	)
Repurchase of common stock under accelerated share repurchase agreement		(103	)		—
Balance at May 31, 2017 and May 31, 2016, respectively		39,198			40,656

(

)

For the

nine

months

ended

May 31, 2017

and

May 31, 2016

, the

Company repurch

ased

37,042

and

19,892

shares, or

$5.7

million and

$3.3million,

of common stock, respectively, in settlement of employee tax withholding obligations due upon the ves

ting

of restricted stock.

A reconciliation of the weighted average shares outstanding used in the basic and diluted earnings per share (“EPS”) computations is as follows:

(in thousands, except per share data)	Net Income (Numerator)		Weighted Average Common Shares (Denominator)		Per Share Amount
For the three months ended May 31, 2017
Basic EPS
Income available to common stockholders	$	65,414		39,317	$	1.66
Diluted EPS
Dilutive effect of stock options and restricted stock				140
Income available to common stockholders plus assumed conversions	$	65,414		39,457	$	1.66
For the three months ended May 31, 2016
Basic EPS
Income available to common stockholders	$	66,781		40,779	$	1.64
Diluted EPS
Dilutive effect of stock options and restricted stock				410
Income available to common stockholders plus assumed conversions	$	66,781		41,189	$	1.62
For the nine months ended May 31, 2017
Basic EPS
Income available to common stockholders	$	198,707		39,528	$	5.03
Diluted EPS
Dilutive effect of stock options and restricted stock				208
Income available to common stockholders plus assumed conversions	$	198,707		39,736	$	5.00
For the nine months ended May 31, 2016
Basic EPS
Income available to common stockholders	$	194,508		41,094	$	4.73
Diluted EPS
Dilutive effect of stock options and restricted stock				502
Income available to common stockholders plus assumed conversions	$	194,508		41,596	$	4.68

Dilutive potential common shares consist of stock options and unvested restricted stock awards. The number of stock options excluded from the calculation of diluted earnings per share for the

three

and

nine

months ended

May 31, 2017

was

492,649

because their inclusion would have been anti-dilutive. The number of stock options excluded from the calculation of diluted earnings per share for the

three

and

nine

months ended

May 31, 2016

was

688,538

because their inclusion would have been anti-dilutive.

For the

three

and

nine

months ended

May 31, 2017,

the number of performance-based stock option grants excluded from the calculation of diluted EPS was

754,561

For the

three

and

nine

months ended

May 31, 2016,

the number of performance-based stock option grants excluded from the calculation of diluted earnings per share was

937,089

Performance-based stock options are omitted from the calculation of diluted EPS until the performance criteria are probable of being achieved.

Note 13 - Stockholders' Equity

9 Months Ended

May 31, 2017

Stockholders' Equity Note Disclosure [Text Block]

. STOCKHOLDERS’

EQUITY

Preferred Stock

May 31, 2017

and

August 31, 2016,

there were

10,000,000

shares of preferred stock (

$0.01

par value per share) authorized, of which

shares were issued and outstanding. FactSet’s Board of Directors

may

from time to time authorize the issuance of

one

or more series of preferred stock and, in connection with the creation of such series, determine the characteristics of each such series including, without limitation, the preference and relative, participating, optional or other special rights, and the qualifications, limitations or restrictions of the series.

Common Stock

May 31, 2017

and

August 31, 2016,

there were

150,000,000

shares of common stock (

$.01

par value per share) authorized, of which

51,737,696

and

51,150,978

shares were issued, respectively. The authorized shares of common stock are issuable for any proper corporate purpose, including future stock splits, stock dividends, acquisitions, raising equity capital or to adopt additional employee benefit plans.

Treasury Stock

May 31, 2017

and

August 31, 2016,

there were

12,539,371

and

11,112,753

shares of treasury stock (at cost) outstanding, respectively. As a result,

39,198,325

and

40,038,225

shares of FactSet common stock were outstanding at

May 31, 2017

and

August 31, 2016,

respectively.

Share Repurchase Program

Repurchases will be made from time to time in the open market and privately negotiated transactions, subject to market conditions. During the

first

nine

months of fiscal

2017,

the Company repurchased

1,284,822

shares for

$208.8

million compared to

1,220,000

shares for

$189.5

million in the prior year comparable period. On

March 27, 2017,

the Board of Directors of FactSet approved a

$300.0

million expansion of to the existing share repurchase program. As of

May 31, 2017,

$288.2

million remains authorized for future share repurchases.

minimum number of shares to be repurchased has been fixed. There is

timeframe to complete the repurchase program and it is expected that share repurchases will be paid using existing and future cash generated by operations.

July 1, 2016,

FactSet entered into an accelerated share repurchase agreement (the “ASR Agreement”) to repurchase

$120.0

million of FactSet common stock. The Company received

595,607

shares of common stock on

July 5, 2016,

which was approximately

80%

of the total number of shares of common stock expected to be repurchased under the ASR Agreement. The final settlement of the ASR Agreement occurred in the

first

quarter of fiscal

2017

with FactSet receiving an additional

102,916

shares of its common stock.

Restricted Stock

Vesting

Restricted stock awards entitle the holder to shares of common stock as the awards vest over time. During the

first

nine

months of fiscal

2017,

101,234

of previously granted restricted stock awards vested and were included in common stock outstanding as of

May 31, 2017 (

less

37,042

shares repurchased from employees to cover their cost of taxes upon vesting of the restricted stock). During the same period a year ago,

51,762

of previously granted restricted stock awards vested and were included in common stock outstanding as of

May 31, 2016 (

less

19,892

shares repurchased from employees to cover their cost of taxes upon vesting of the restricted stock).

Dividends

The Company’s Board of Directors declared the following historical dividends:

Declaration Date	Dividends Per Share of Common Stock		Type	Record Date	Total $ Amount (in thousands)		Payment Date
May 5, 2017	$	0.56	Regular (cash)	May 31, 2017	$	21,951	June 20, 2017
February 6, 2017	$	0.50	Regular (cash)	February 28, 2017	$	19,709	March 21, 2017
November 10, 2016	$	0.50	Regular (cash)	November 30, 2016	$	19,852	December 20, 2016
August 5, 2016	$	0.50	Regular (cash)	August 31, 2016	$	20,019	September 20, 2016
May 6, 2016	$	0.50	Regular (cash)	May 31, 2016	$	20,171	June 21, 2016
February 5, 2016	$	0.44	Regular (cash)	May 31, 2016	$	18,044	March 15, 2016
November 6, 2015	$	0.44	Regular (cash)	November 30, 2015	$	18,208	December 15, 2015
August 10, 2015	$	0.44	Regular (cash)	August 31, 2015	$	18,179	September 15, 2015

All of the above cash dividends were paid from existing cash resources. Future dividend payments will depend on the Company’s earnings, capital requirements, financial condition and other factors considered relevant by the Company and is subject to final determination by the Company’s Board of Directors.

Note 14 - Employee Stock Option and Retirement Plans

9 Months Ended

May 31, 2017

Compensation and Employee Benefit Plans [Text Block]

. EMPLOYEE STOCK OPTION AND RETIREMENT PLANS

Stock Option Awards

The FactSet Research Systems Inc.

2004

Stock Option and Award Plan, as Amended and Restated (the “Option Plan”) provides for the grant of share-based awards, including stock options and restricted stock awards to employees of FactSet. The expiration date of the Option Plan is

December 14, 2020.

Stock options granted under the Option Plan expire either

seven

ten

years from the date of grant and the majority vest ratably over a period of

five

years. Options become vested and exercisable provided the employee continues employment with the Company through the applicable vesting date and remain exercisable until expiration or cancellation. Options are

not

transferable or assignable other than by will or the laws of descent and distribution. During the grantee’s lifetime, the options

may

be exercised only by the grantee.

Stock Option Activity

During the

first

nine

months of fiscal

2017,

FactSet granted

767,071

stock options at a weighted average exercise price of

$154.01

to existing employees of the Company. As of

May 31, 2017,

a total of

3,597,101

stock options were outstanding at a weighted average exercise price of

$139.97.

Unamortized stock-based compensation of

$58.6

million is expected to be recognized as stock-based compensation expense over the remaining vesting period of

3.4

years.

A summary of stock option activity is as follows:

(in thousands, except per share data)	Number Outstanding			Weighted Average Exercise Price Per Share
Balance at August 31, 2016		3,364		$	129.54
Granted – nonperformance-based		671		$	152.28
Granted – performance-based		23		$	159.45
Exercised		(199	)	$	74.56
Forfeited		(26	)	$	147.22
Balance at November 30, 2016		3,833		$	136.43
Granted – performance-based		62		$	169.16
Granted – non-employee Directors grant		24		$	170.24
Exercised		(170	)	$	89.62
Forfeited		(50	)	$	141.50
Balance at February 28, 2017		3,699		$	139.27
Granted – nonperformance-based		12		$	163.05
Exercised		(62	)	$	93.25
Forfeited		(52	)	$	151.65
Balance at May 31, 2017		3,597		$	139.97

The total number of in-the-money options exercisable as of

May 31, 2017

was

0.8

million with a weighted average exercise price of

$97.20.

As of

August 31, 2016,

1.0

million in-the-money outstanding options were exercisable with a weighted average exercise price of

$89.42.

The aggregate intrinsic value of in-the-money stock options exercisable at

May 31, 2017

and

August 31, 2016

was

$57.1

million and

$86.0

million, respectively. Aggregate intrinsic value represents the difference between the Company’s closing stock prices of

$165.69

and

$178.03

May 31, 2017

and

August 31, 2016,

respectively, and the exercise price multiplied by the number of options exercisable as of that date. The total pre-tax intrinsic value of stock options exercised during the

nine

months ended

May 31, 2017

and

2016

was

$34.8

million and

$43.0

million, respectively.

Performance-based Stock Options

Performance-based stock options require management to make assumptions regarding the likelihood of achieving Company performance targets. The number of performance-based options that vest will be predicated on the Company achieving performance levels during the measurement period subsequent to the date of grant. Dependent on the financial performance levels attained by FactSet, a percentage of the performance-based stock options will vest to the grantees of those stock options. However, there is

current guarantee that such options will vest in whole or in part.

July 2012

Performance-based Option Grant Review

July 2012,

FactSet granted

241,546

performance-based employee stock options, which are eligible to vest in

20%

tranches depending upon future StreetAccount user growth through

August 31, 2017.

Through the

third

quarter of fiscal

2017,

all

five

of the growth targets as outlined within the terms of the grant were achieved. As such,

80%,

193,256,

of the options granted have vested with the

fifth

tranche eligible to vest fully on

August 31, 2017.

Unamortized stock-based compensation expense of

$0.1

million will be recognized over the remaining vesting period of

0.2

years.

February 2015

Performance-based Option Grant Revie

In connection with the acquisition of Code Red, FactSet granted

137,522

performance-based stock options during the

second

quarter of fiscal

2015.

Of the total amount granted,

68,761

performance-based options were eligible to vest if certain Code Red ASV and operating margin targets were achieved over a

two

-year measurement period ending

February 28, 2017.

At the conclusion of the measurement period,

70%

of the options were deemed eligible to vest, with the remaining options being forfeited. The option holders must remain employed by FactSet through

February 28, 2019

in order for the options to vest. As of

May 31, 2017,

total unamortized stock-based compensation of

$0.9

million will be recognized as expense over the remaining vesting period of

1.7

years.

The remaining

68,761

options granted in

February 2015

are eligible to cliff vest based on a

four

-year measurement period ending

February 28, 2019.

As of

May 31, 2017,

total unamortized stock-based compensation of

$0.5

million will be recognized as expense over the remaining vesting period of

1.7

years. A change, up or down, in the actual financial performance levels achieved by Code Red in future fiscal years could result in the following changes to the current estimate of the vesting percentage and related expense:

Vesting Percentage (in thousands)	Cumulative Catch-up Adjustment*			Remaining Expense to be Recognized
0%	$	(694	)		—
10%	$	(520	)	$	127
40% (current expectation)		—		$	506
70%	$	520		$	886
100%	$	1,041		$	1,265

* Amounts represent the cumulative catch-up adjustment to be recorded if there was a change in the vesting percentage as of

May 31, 2017.

October

2015

Performance-based Option Grant Review

In connection with the acquisition of Portware during the

first

quarter of fiscal

2016,

FactSet granted

530,418

performance-based stock options. These performance-based options will vest

40%

on the

second

anniversary date of the grant and

20%

on each subsequent anniversary date if certain Portware revenue and operating income targets are achieved by

October 16, 2017.

The option holders must also remain employed by FactSet for the options to be eligible to vest. As of

May 31, 2017,

FactSet does

not

believe these growth targets are probable of being achieved, and as such,

stock-based compensation expense is expected to be recognized in connection with these performance-based options. A change in the actual financial performance levels achieved by Portware in future fiscal years could result in the following changes to the current estimate of the vesting percentage and related expense:

Vesting Percentage (in thousands)	Cumulative Catch-up Adjustment*		Remaining Expense to be Recognized
0% (current expectation)		—		—
50%	$	3,981	$	8,269
70%	$	5,574	$	11,577
100%	$	7,963	$	16,538

* Amounts represent the cumulative catch-up adjustment to be recorded if there was a change in the vesting percentage as of

May 31, 2017.

FactSet granted

20,911

additional performance-based stock options to Portware employees in the

fourth

quarter of fiscal

2016.

Similar to the

October 2015

grant, these performance-based options will vest

40%

on the

second

anniversary date of the grant and

20%

on each subsequent anniversary date if certain Portware revenue and operating income targets are achieved by

October 16, 2017.

The option holders must also remain employed by FactSet for the options to be eligible to vest. As of

May 31, 2017,

FactSet does

not

believe these growth targets are probable of being achieved, and as such,

Vesting Percentage (in thousands)	Cumulative Catch-up Adjustment*		Remaining Expense to be Recognized
0% (current expectation)		—		—
50%	$	83	$	417
70%	$	116	$	583
100%	$	166	$	833

* Amounts represent the cumulative catch-up adjustment to be recorded if there was a change in the vesting percentage as of

May 31, 2017

January 2017

Performance-based Option Grant Review

In connection with the acquisition of Vermilion, FactSet granted

61,744

performance-based stock options in

January 2017.

These performance-based options will vest

40%

on the

second

anniversary date of the grant and

20%

on each subsequent anniversary date if certain Vermilion revenue and operating income targets are achieved by

November 30, 2018.

The option holders must also remain employed by FactSet for the options to be eligible to vest. As of

May 31, 2017,

FactSet does

not

believe these growth targets are probable of being achieved, and as such,

stock-based compensation expense is expected to be recognized in connection with these performance-based options. A change in the actual financial performance levels achieved by Vermilion in future fiscal years could result in the following changes to the current estimate of the vesting percentage and related expense:

Vesting Percentage (in thousands)	Cumulative Catch-up Adjustment*		Remaining Expense to be Recognized
0% (current expectation)		—		—
100%	$	202	$	2,502

* Amounts represent the cumulative catch-up adjustment to be recorded if there was a change in the vesting percentage as of

May 31, 2017

Restricted Stock and Stock Unit Awards

The Company’s Option Plan permits the issuance of restricted stock and restricted stock units. Restricted stock awards are subject to continued employment over a specified period.

Restricted Stock and Stock Unit Awards Activity

During the

first

nine

months of fiscal

2017,

FactSet granted

12,927

restricted stock awards to employees of the Company at a weighted average grant date fair value of

$157.50.

These restricted stock awards vest over a weighted average period of

5.0

years from grant date.

As of

May 31, 2017,

a total of

168,096

shares of restricted stock and restricted stock units were unvested and outstanding, which results in unamortized stock-based compensation of

$17.5

million to be recognized as stock-based compensation expense over the remaining weighted average vesting period of

2.9

years.

A summary of restricted stock award activity is as follows:

(in thousands, except per award data)	Number Outstanding			Weighted Average Grant Date Fair Value Per Award
Balance at August 31, 2016		262		$	126.27
Granted		5		$	151.63
Vested (1)		(95	)	$	112.70
Balance at November 30, 2016		172		$	134.02
Granted		8		$	161.31
Forfeited		(3	)	$	114.42
Vested (2)		(6	)	$	105.91
Balance at February 28, 2017		171		$	136.65
Forfeited		(3	)	$	116.38
Balance at May 31, 2017		168		$	136.95

(

)

Of the

94,877

restricted stock awards that vested during the

first

quarter of fiscal

2017,

73,522

related to awards granted on

November 1, 2013.

The remaining

40%

of these res

tricted stock awards cliff vest

after

five

years on

November 1, 2018

and

are

amortized to expense over the vesting period using the st

raight-line attribution method. The other restricted stock awards that vested related primarily to awards granted in

November 2015,

which vest

20%

per year on the anniversary date of the award.

(

)

Of the

6,357

restricted stock awards that vested during the

second

quarter of fiscal

2017,

5,150

related to awards granted on

February 3, 2014

The remaining

40%

of these res

tricted stock awards cliff vest

after

five

years on

February 3, 2019

and

are

amortized to expense over the vesting period using the st

raight-line attribution method. The other restricted stock awards that vested related to awards granted in

February 2015

in connection with the Code Red acquisition, which vested

100%

February 9, 2017.

Share-based Awards Available for Grant

A summary of share-based awards available for grant is as follows:

(in thousands)	Share-based Awards Available for Grant under the Employee Option Plan			Share-based Awards Available for Grant under the Non-Employee Directors Plan
Balance at August 31, 2016		1,491			66
Granted – nonperformance-based options		(671	)		—
Granted – performance-based options		(23	)		—
Granted – restricted stock awards (1)		(12	)		—
Share-based awards canceled/forfeited (2)		29			—
Balance at November 30, 2016		814			66
Granted – nonperformance-based options		—			(24	)
Granted – performance-based options		(62	)		—
Granted – restricted stock awards (1)		(20	)		—
Share-based awards canceled/forfeited (2)		56			—
Balance at February 28, 2017		788			42
Granted – nonperformance-based options		(12	)		—
Share-based awards canceled/forfeited (2)		58			—
Balance at May 31, 2017		834			42

(

)

Each restricted stock award granted is eq

uivalent to

2.5

shares granted under the Company’s Option Plan.

(

)

Under the Company’s Option Plan, for each restricted stock award canceled/forfeited, an equivalent of

2.5

shares is added back to the available share-based awards balance.

Employee Stock Purchase Plan

Shares of FactSet common stock

may

be purchased by eligible employees under the Amended and Restated FactSet Research Systems Inc.

2008

Employee Stock Purchase Plan (the “ESPP”) in

three

-month intervals at a purchase price equal to at least

85%

of the lesser of the fair market value of the Company’s common stock on either the

first

day or the last day of each

three

-month offering period. Employee purchases

may

not

exceed

10%

of their gross compensation during an offering period.

During the

three

months ended

May 31, 2017,

employees purchased

17,314

shares at a weighted average price of

$140.84

as compared to

17,538

shares at a weighted average price of

$131.57

for the

three

months ended

May 31, 2016.

During the

nine

months ended

May 31, 2017,

employees purchased

54,554

shares at a weighted average price of

$137.38

as compared to

53,711

shares at a weighted average price of

$129.83

for the

nine

months ended

May 31, 2016.

May 31, 2017,

353,990

shares were reserved for future issuance under the ESPP.

401

(k) Plan

The Company established it

401

(k) Plan in fiscal

1993.

The

401

(k) Plan is a defined contribution plan covering all full-time, U.S. employees of the Company and is subject to the provisions of the Employee Retirement Income Security Act of

1974

and the Internal Revenue Code of

1986

(“IRC”). Each year, participants

may

contribute up to

60%

of their eligible annual compensation, subject to annual limitations established by the IRC. The Company matches up to

of employees’ earnings, capped at the Internal Revenue Service annual maximum. Company matching contributions are subject to a

five

year graduated vesting schedule. All full-time, U.S. employees are eligible for the matching contribution by the Company. The Company contributed

$7.3

million and

$7.1

million in matching contributions to employee

401

(k) accounts during the

nine

months ended

May 31, 2017

and

2016,

respectively.

Note 15 - Stock-based Compensation

9 Months Ended

May 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

. STOCK-BASED COMPENSATION

The Company recognized total stock-based compensation expense of

$7.3

million and

$20.9

million during the

three

and

nine

months ended

May 31, 2017,

respectively. Similarly, the Company recognized total stock-based compensation expense of

$7.4

million and

$22.4

million during the

three

and

nine

months ended

May 31, 2016,

respectively. As of

May 31, 2017,

$76.1

million of total unrecognized compensation expense related to non-vested equity awards is expected to be recognized over a weighted average period of

3.3

years. There was

stock-based compensation capitalized as of

May 31, 2017

August 31, 2016,

respectively.

Employee Stock Option Fair Value Determinations

The Company utilizes the lattice-binomial option-pricing model (“binomial model”) to estimate the fair value of new employee stock option grants. The Company’s determination of fair value of stock option awards on the date of grant using the binomial model is affected by the Company’s stock price as well as assumptions regarding a number of variables. These variables include, but are

not

limited to the Company’s expected stock price volatility over the term of the awards, interest rates, option forfeitures and employee stock option exercise behaviors.

Q1 2017	671,263 nonperformance-based employee stock options and 22,460 performance-based employee stock options were granted at a weighted average exercise price of $152.51 and a weighted average estimated fair value of $39.60 per share.
Q2 2017	61,744 performance-based employee stock options were granted at a weighted average exercise price of $169.16 and a weighted average estimated fair value of $43.81 per share.
Q3 2017	11,604 nonperformance-based employee stock options were granted at a weighted average exercise price of $163.05 and a weighted average estimated fair value of $42.23 per share.
Q1 2016	513,785 nonperformance-based employee stock options and 530,418 performance-based employee stock options were granted at a weighted average exercise price of $170.21 and a weighted average estimated fair value of $46.62 per share.
Q2 2016	4,073 nonperformance-based employee stock options were granted at an exercise price of $150.81 and an estimated fair value of $40.51 per share.
Q3 2016	103,903 nonperformance-based employee stock options were granted at an exercise price of $152.10 and an estimated fair value of $40.57 per share.

The weighted average estimated fair value of employee stock options granted was determined using the binomial model with the following weighted average assumptions:

Three months ended	May 31, 2017				May 31, 2016
Term structure of risk-free interest rate		0.49%	-	1.89%		0.40%	-	1.90%
Expected life (years)			7.4				7.5
Term structure of volatility		21%	-	29%		24%	-	30%
Dividend yield			1.18%				1.33%
Weighted average estimated fair value			$42.23				$40.57
Weighted average exercise price			$163.05				$152.10
Fair value as a percentage of exercise price			25.9%				26.7%

Nine months ended	May 31, 2017				May 31, 2016
Term structure of risk-free interest rate		0.07%	-	2.09%		0.07%	-	2.12%
Expected life (years)			7.4				7.7
Term structure of volatility		21%	-	30%		21%	-	30%
Dividend yield			1.18%				1.09%
Weighted average estimated fair value			$39.98				$46.05
Weighted average exercise price			$154.01				$168.51
Fair value as a percentage of exercise price			26.0%				27.3%

The risk-free interest rate assumption for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. Expected volatility is based on a combination of historical volatility of the Company’s stock and implied volatilities of publicly traded options to buy FactSet common stock with contractual terms closest to the expected life of options granted to employees. The approach to utilize a mix of historical and implied volatility was based upon the availability of actively traded options on the Company’s stock and the Company’s assessment that a combination of implied volatility and historical volatility is best representative of future stock price trends. The Company uses historical data to estimate option exercises and employee termination within the valuation model. The dividend yield assumption is based on the Company’s history and expectation of dividend payouts. The expected life of employee stock options represents the weighted average period the stock options are expected to remain outstanding and is a derived output of the binomial model. The binomial model estimates employees exercise behavior based on the option’s remaining vested life and the extent to which the option is in-the-money. The binomial model estimates the probability of exercise as a function of these

two

variables based on the entire history of exercises and cancellations of all past option grants made by the Company.

Non-Employee Director Stock Option Fair Value Determinations

The

2008

Non-Employee Directors’ Stock Option Plan (the “Directors’ Plan”) provides for the grant of share-based awards, including stock options, to non-employee directors of FactSet. An initial

250,000

shares of FactSet common stock were reserved for issuance under the Directors’ Plan, of which

42,185

remain available for future grant as of

May 31, 2017.

The expiration date of the Directors’ Plan is

December 1, 2018.

The Company utilizes the Black-Scholes model to estimate the fair value of non-employee Director stock option grants. The Company’s determination of fair value of share-based payment awards on the date of grant is affected by the Company’s stock price as well as assumptions regarding a number of variables. These variables include, but are

not

limited to the Company’s expected stock price volatility over the term of the awards, interest rates, option forfeitures and employee stock option exercise behaviors.

Fiscal

201

January 13, 2017,

FactSet granted

23,846

stock options to the Company’s non-employee Directors, including

one

-time new Director grants of

2,417

stock options each for Malcolm Frank and Sheila B. Jordan, who were elected to FactSet’s Board of Directors on

December 20, 2016.

All of the options granted on

January 13, 2017

have a weighted average estimated fair value of

$35.65

per share, using the Black-Scholes option-pricing model with the following weighted average assumptions:


Risk-free interest rate	1.95	%
Expected life (years)	5.4
Expected volatility	22.7	%
Dividend yield	1.24	%

Fiscal

2016

January 15, 2016,

FactSet granted

22,559

stock options to the Company’s non-employee Directors, including a

one

-time new Director grant of

2,417

for Laurie Siegel, who was elected to FactSet’s Board of Directors on

December 15, 2015.

All of the options granted on

January 15, 2016

have a weighted average estimated fair value of

$31.03

per share, using the Black-Scholes option-pricing model with the following weighted average assumptions:


Risk-free interest rate	1.62	%
Expected life (years)	5.4
Expected volatility	23.0	%
Dividend yield	1.05	%

Restricted Stock

Fair Value Determinations

Restricted stock granted to employees entitles the holder to shares of common stock as the award vests over time, but

not

to dividends declared on the underlying shares while the restricted stock is unvested. The grant date fair value of restricted stock awards is measured by reducing the grant date price of FactSet’s share by the present value of the dividends expected to be paid on the underlying stock during the requisite service period, discounted at the appropriate risk-free interest rate. Restricted stock awards are amortized to expense over the vesting period. During the

first

nine

months of fiscal

2017,

there were

12,927

restricted stock awards granted with a weighted average grant date fair value of

$157.50.

During the

first

nine

months of fiscal

2016,

FactSet granted

93,375

restricted stock awards at a weighted average grant date fair value of

$159.42.

Employee Stock Purchase Plan Fair Value Determinations

During the

three

months ended

May 31, 2017,

employees purchased

17,314

shares at a weighted average price of

$140.84

as compared to

17,538

shares at a weighted average price of

$131.57

for the

three

months ended

May 31, 2016.

During the

nine

months ended

May 31, 2017,

employees purchased

54,554

shares at a weighted average price of

$137.38

as compared to

53,711

shares at a weighted average price of

$129.83

for the

nine

months ended

May 31, 2016.

Stock-based compensation expense recorded for each of the

three

months ended

May 31, 2017

and

2016,

relating to the ESPP was

$0.5

million and

$0.4

million, respectively. Stock-based compensation expense recorded for each of the

nine

months ended

May 31, 2017

and

2016,

relating to the ESPP was

$1.5

million and

$1.4

million, respectively.

The weighted average estimated fair value for the ESPP was calculated using the Black-Scholes model with the following assumptions:

Three months ended	May 31, 2017			May 31, 2016
Risk-free interest rate		0.81	%		0.27	%
Expected life (months)		3			3
Expected volatility		8.3	%		11.53	%
Dividend yield		1.24	%		1.29	%
Weighted average estimated fair value	$	29.84		$	26.07

Nine months ended	May 31, 2017			May 31, 2016
Risk-free interest rate		0.56	%		0.20	%
Expected life (months)		3			3
Expected volatility		8.7	%		11.42	%
Dividend yield		1.21	%		1.15	%
Weighted average estimated fair value	$	28.48		$	27.19

Accuracy of Fair Value Estimates

The Company is responsible for determining the assumptions used in estimating the fair value of its share-based payment awards. The Company’s determination of fair value of share-based payment awards on the date of grant using an option-pricing model is affected by the Company’s stock price as well as assumptions regarding a number of highly complex and subjective variables. These variables include, but are

not

limited to the Company’s expected stock price volatility over the term of the awards, interest rates, option forfeiture rates and actual and projected employee stock option exercise behaviors. Option-pricing models were developed for use in estimating the value of traded options that have

vesting or hedging restrictions and are fully transferable.

Note 16 - Income Taxes

9 Months Ended

May 31, 2017

Income Tax Disclosure [Text Block]

. INCOME TAXES

Income tax expense is based on taxable income determined in accordance with current enacted laws and tax rates. Deferred income taxes are recorded for the temporary differences between the financial statement and tax bases of assets and liabilities using currently enacted tax rates.

Provision for Income Taxes

The provision for income taxes is as follows:

	Three months ended						Nine months ended
(in thousands)	May 31, 2017			May 31, 2016			May 31, 2017			May 31, 2016
Income before income taxes	$	85,229		$	88,857		$	264,539		$	261,177
Total provision for income taxes	$	19,815		$	22,076		$	65,832		$	66,669
Effective tax rate		23.2	%		24.8	%		24.9	%		25.5%	(1)

(

)

December 2015,

the Consolidated Appropriations Act,

2016

(the

“2016

ACT”) was signed into law. The ACT reinstated and made permanent the U.S. Federal R&D tax credit (the “R&D tax credit”), which had previously expired on

December 31, 2014.

The reenactment of the R&D tax credit was retroactive to

January 1, 2015

and by providing for a permanent R&D tax credit, the

2016

ACT eliminates the yearly uncertainty surrounding the extension of the credit. Prior to the reenactment of the R&D tax credit, FactSet had

not

been permitted to factor it into its effective tax rate as it was

not

currently enacted tax law. The reenactment resulted in a discrete income tax benefit of

$7.3

million during the

second

quarter of fiscal

2016

and reduced the Company’s effective tax rate

for the

nine

months ended

May 31, 2016

25.5

FactSet’s effective tax rate is based on recurring factors and nonrecurring events, including the taxation of foreign income. The Company’s effective tax rate will vary based on, among other things, changes in levels of foreign income, as well as discrete and other nonrecurring events that

may

not

be predictable. The effective tax rate was lower than the U.S. statutory rate of

35.0

in both periods presented above primarily due to foreign income, which is subject to lower statutory tax rates than in the U.S. and benefits from R&D and foreign tax credits partially offset by additional state and local income taxes.

FactSet Operational Realignment

Effective

September 1, 2016,

FactSet realigned certain aspects of its global operations from FactSet Research Systems Inc., its U.S. parent company, to FactSet UK Limited, a U.K. operating company, to better position the Company to serve its growing client base outside the U.S. This realignment allows the Company to further implement strategic corporate objectives and helps achieve operational and financial efficiencies, while complementing FactSet’s increasing global growth and reach. As a result of the realignment, the Company expects an approximate benefit of

250

basis point to its fiscal

2017

annual effective tax rate.

Deferred Tax Assets and Liabilities

The significant components of deferred tax assets that are recorded in the Consolidated Balance Sheets were as follows:

(in thousands)	May 31, 2017			August 31, 2016
Current
Receivable reserve	$	619		$	531
Deferred rent		1,184			1,022
Other		820			1,605
Net current deferred tax assets	$	2,623		$	3,158
Non-current
Depreciation on property, equipment and leasehold improvements	$	3,335		$	5,194
Deferred rent		10,539			9,626
Stock-based compensation		18,154			19,927
Purchased intangible assets, including acquired technology		(31,495	)		(24,645	)
Other		4,566			3,304
Net non-current deferred tax assets	$	5,099		$	13,406
Total deferred tax assets	$	7,722		$	16,564

The significant components of deferred tax liabilities that are recorded in the Consolidated Balance Sheets were as follows:

(in thousands)	May 31, 2017			August 31, 2016
Current
Other	$	1,781		$	291
Net current deferred tax liabilities	$	1,781		$	291
Non-current
Stock-based compensation	$	(944	)	$	—
Depreciation on property, equipment and leasehold improvements		(441	)		—
Purchased intangible assets, including acquired technology		25,928			1,666
Other		(1,504	)		42
Net non-current deferred tax liabilities	$	23,039		$	1,708
Total deferred tax liabilities	$	24,820		$	1,999

U.S. income taxes have been provided on filing-basis undistributed foreign earnings and profits as of

May 31, 2017,

as FactSet plans to permanently reinvest these amounts and use the earnings to fund non-U.S. operations and working capital needs as well as facilities overseas. This includes, but is

not

limited to, capital expenditures and acquisitions intended to further FactSet’s global growth strategy. At each reporting period, FactSet assesses its position with regard to the undistributed foreign earnings of its subsidiaries. To the extent that earnings can

longer be indefinitely reinvested, the Company will accrue the tax impact, if any, attributable to those earnings, including the impact of foreign tax credits, at such time. If such earnings are repatriated, additional tax expense

may

result, although the flexibility inherent in the U.S. Internal Revenue Code

may

permit the ultimate distribution to be tax-free depending on the nature of the distribution. Therefore the Company does

not

believe it is practicable to estimate, with reasonable accuracy, the hypothetical amount of the unrecognized deferred tax liability on its undistributed foreign earnings given the many factors and assumptions necessary to estimate the amount of the federal income tax that

may

be payable in the future on the undistributed earnings..

Unrecognized Tax Positions

Applicable accounting guidance prescribes a comprehensive model for the financial statement recognition, measurement, classification and disclosure of uncertain tax positions that a company has taken or expects to take on a tax return. A company can recognize the financial effect of an income tax position only if it is more likely than

not

(greater than

50%

) that the tax position will prevail upon tax examination, based solely on the technical merits of the tax position. Otherwise,

benefit or expense can be recognized in the consolidated financial statements. The tax benefits recognized are measured based on the largest benefit that has a greater than

fifty

percent likelihood of being realized upon ultimate settlement. Additionally, companies are required to accrue interest on all tax exposures for which reserves have been established consistent with jurisdictional tax laws.

As of

May 31, 2017,

the Company had gross unrecognized tax benefits totaling

$10.8

million, including

$1.3

million of accrued interest, recorded as

on-current taxes payable

within the Consolidated Balance Sheet. Unrecognized tax benefits represent tax positions taken on tax returns but

not

yet recognized in the consolidated financial statements. When applicable, the Company adjusts the previously recorded tax expense to reflect examination results when the position is ultimately settled. The Company regularly engages in discussions and negotiations with tax authorities regarding tax matters in various jurisdictions. It is reasonably possible that certain federal, foreign, and state tax matters

may

be concluded in the next

months. However, FactSet has

reason to believe that such audits will result in the payment of additional taxes and/or penalties that would have a material adverse effect on the Company’s results of operations or financial position, beyond current estimates. Any changes in accounting estimates resulting from new developments with respect to uncertain tax positions will be recorded as appropriate. The Company does

not

currently anticipate that the total amounts of unrecognized tax benefits will significantly change within the next

months.

The following table summarizes the changes in the balance of gross unrecognized tax benefits during the

first

nine

months of fiscal

2017:

(in thousands)
Unrecognized income tax benefits at August 31, 2016	$	8,782
Additions based on tax positions related to the current year		1,359
Additions for tax positions of prior years		2,461
Statute of limitations lapse		(1,822	)
Unrecognized income tax benefits at May 31, 2017	$	10,780

In the normal course of business, the Company’s tax filings are subject to audit by federal, state and foreign tax authorities. At

May 31, 2017,

the Company remained subject to examination in the following major tax jurisdictions:

Major Tax Jurisdictions	Open Tax Years
U.S.
Federal		2014	through	2017
State (various)		2010	through	2017
Europe
France		2013	through	2017
United Kingdom		2012	through	2017

Note 17 - Long-term Debt

9 Months Ended

May 31, 2017

Long-term Debt [Text Block]

17.

LONG-TERM DEBT

FactSet’s debt obligations consisted of the following:

(in thousands)	May 31, 2017		August 31, 2016
2017 Revolving Credit Facility	$	575,000	$	—
2015 Revolving Credit Facility		—		300,000
Total Outstanding Debt	$	575,000	$	300,000

March 17, 2017,

the Company entered into a Credit Agreement (the

“2017

Credit Agreement”) between FactSet, as the borrower, and PNC Bank, National Association (“PNC”), as the administrative agent and lender. The

2017

Credit Agreement provides for a

$575.0

million revolving credit facility (the

“2017

Revolving Credit Facility”). FactSet

may

request borrowings under the

2017

Revolving Credit Facility until its maturity date of

March 17, 2020.

The

2017

Credit Agreement also allows FactSet, subject to certain requirements, to arrange for additional borrowings with PNC for an aggregate amount of up to

$225.0

million, provided that any such request for additional borrowings must be in a minimum amount of

$25.0

million. Borrowings under the loan bear interest on the outstanding principal amount at a rate equal to the daily LIBOR rate plus

1.00%.

Interest on the loan outstanding is payable quarterly in arrears and on the maturity date. There are

prepayment penalties if the Company elects to prepay the outstanding loan amounts prior to the scheduled maturity date. The principal balance is payable in full on the maturity date.

In conjunction with FactSet’s entrance into the

2017

Credit Agreement, the Company borrowed

$575.0

million in the form of a LIBOR rate loan under the

2017

Revolving Credit Facility and retired the outstanding debt under its previous credit agreement between FactSet, as the borrower, and Bank of America, N.A., as the lender. The total principal amount of the debt outstanding at the time of retirement was

$365.0

million and there were

prepayment penalties. Proceeds from the

2017

Revolving Credit Facility were also used to fund FactSet’s acquisition of BISAM.

All outstanding loan amounts are reported as

Long-term debt

within the Consolidated Balance Sheet at

May 31, 2017.

During the

three

months ended

May 31, 2017

and

2016,

the Company paid approximately

$2.9

million and

$0.9

million in interest on its outstanding debt amounts, respectively. During the

nine

months ended

May 31, 2017

and

2016,

the Company paid approximately

$5.3

million and

$2.2

million in interest on its outstanding debt amounts, respectively.

As of

May 31, 2017,

commitment fee was owed by FactSet since it borrowed the full amount under the

2017

Credit Agreement. In fiscal

2017,

FactSet incurred approximately

$0.4

million in legal costs to draft and review the

2017

Credit Agreement. These costs were capitalized as loan origination fees and are amortized into interest expense over the term of the loan using the effective interest method.

The

2017

Credit Agreement contained covenants restricting certain FactSet activities, which are usual and customary for this type of loan.

In addition, the

2017

Credit Agreement required that FactSet maintain a consolidated leverage ratio, as measured by total funded debt/EBITDA below a specified level as of the end of each fiscal quarter. The Company was in compliance with all of the covenants of the

2017

Credit Agreement as of

May 31, 2017.

Note 18 - Commitments and Contingencies

9 Months Ended

May 31, 2017

Commitments and Contingencies Disclosure [Text Block]

. COMMITMENTS AND CONTINGENCIES

Commitments represent obligations, such as those for future purchases of goods or services that are

not

yet recorded on the balance sheet as liabilities. FactSet records liabilities for

commitments when incurred (

i.e.

, when the goods or services are received).

Lease Commitments

May 31, 2017,

the Company leased approximately

202,000

square feet of office space at its headquarters in Norwalk, Connecticut. Including new lease agreements executed during fiscal

2017,

the Company’s worldwide leased office space increased to approximately

1,226,000

square feet at

May 31, 2017,

154,000

square feet, or

14.4%,

from

August 31, 2016.

This increase was primarily due to leases related to acquisitions completed in fiscal

2017

as well as expanded office space in India, offset by the consolidation of certain other office spaces. The Company’s significant locations are listed under Item

Properties

, within the Annual Report on Form

-K for the fiscal year ended

August 31, 2016.

The non-cancelable operating leases expire on various dates through

2031.

The Company believes the amount of leased office space as of

May 31, 2017

is adequate for its current needs and that additional space is available for lease to meet any future needs.

Total minimum rental payments associated with the leases are recorded as rent expense (a component of

SG&A

expense) on a straight-line basis over the periods of the respective non-cancelable lease terms. Future minimum commitments for the Company’s operating leases in place as of

May 31, 2017

are as follows:

Years ended August 31, (in thousands)	Minimum Lease Payments
2017 (remaining three months)	$	8,659
2018		36,006
2019		33,161
2020		26,628
2021		20,473
Thereafter		156,742
Total	$	281,669

Rent expense (including operating costs) for all operating leases amounted to

$12.4

million and

$11.1

million during the

three

months ended

May 31, 2017

and

2016,

respectively. Rent expense for all operating leases amounted to

$35.3

million and

$32.0

million during the

nine

months ended

May 31, 2017

and

2016,

respectively. At

May 31, 2017

and

August 31, 2016,

deferred rent reported within the Consolidated Balance Sheets totaled

$37.2

million and

$34.4

million, of which

$33.9

million and

$31.2

million, respectively, and was reported as a non-current liability within the line item

Deferred Rent and Other Non-Current Liabilities

Approximately

$1.9

million of standby letters of credit have been issued during the ordinary course of business in connection with the Company’s current leased office space as of

May 31, 2017

. These standby letters of credit contain covenants that, among other things, require FactSet to maintain minimum levels of consolidated net worth and certain leverage and fixed charge ratios. As of

May 31, 2017

, FactSet was in compliance with all covenants contained in the standby letters of credit.

Purchase Commitments with Suppliers

Purchase obligations represent payments due in future periods in respect of commitments to the Company’s various data vendors as well as commitments to purchase goods and services such as telecommunication and computer maintenance services. These purchase commitments are agreements that are enforceable and legally binding on FactSet and that specify all significant terms, including: fixed or minimum quantities to be purchased; fixed, minimum or variable price provisions; and the approximate timing of the transaction. At

August 31, 2016,

the Company had total purchase commitments of

$67.5

million. There were

material changes in the Company’s purchase commitments during the

first

nine

months of fiscal

2017.

Contingencies

Income Taxes

Uncertain income tax positions are accounted for in accordance with applicable accounting guidance (see Note

). FactSet is currently under audit by tax authorities and has reserved for potential adjustments to its provision for income taxes that

may

result from examinations by, or any negotiated settlements with, these tax authorities. The Company believes that the final outcome of these examinations or settlements will

not

have a material effect on its results of operations. If events occur which indicate payment of these amounts is unnecessary, the reversal of the liabilities would result in the recognition of tax benefits in the period FactSet determines the liabilities are

longer necessary. If the Company’s estimates of the federal, state, and foreign income tax liabilities are less than the ultimate assessment, a further charge to expense would result.

Legal Matters

FactSet accrues non income-tax liabilities for contingencies when management believes that a loss is probable and the amounts can be reasonably estimated, while contingent gains are recognized only when realized. The Company is subject to legal proceedings, claims and litigation arising in the ordinary course of business, including intellectual property litigation. Based on information available at

May 31, 2017,

FactSet’s management does

not

believe that the ultimate outcome of these unresolved matters against the Company, individually or in the aggregate, is likely to have a material adverse effect on the Company's consolidated financial position, its results of operations or its cash flows.

Indemnifications

As permitted or required under Delaware law and to the maximum extent allowable under that law, FactSet has certain obligations to indemnify its current and former officers and directors for certain events or occurrences while the officer or director is, or was serving, at FactSet’s request in such capacity. These indemnification obligations are valid as long as the director or officer acted in good faith and in a manner the person reasonably believed to be in, or

not

opposed to, the best interests of the Company, and with respect to any criminal action or proceeding, had

reasonable cause to believe his or her conduct was unlawful. The maximum potential amount of future payments FactSet could be required to make under these indemnification obligations is unlimited; however, FactSet has a director and officer insurance policy that it believes mitigates FactSet's exposure and

may

enable FactSet to recover a portion of any future amounts paid. The Company believes the estimated fair value of these indemnification obligations is immaterial.

Concentrations of Credit Risk

Cash equivalents

Cash and cash equivalents are maintained primarily with

four

financial institutions. Deposits held with banks

may

exceed the amount of insurance provided on such deposits. These deposits

may

be redeemed upon demand and are maintained with financial institutions with reputable credit and therefore bear minimal credit risk. The Company seeks to mitigate its credit risks by spreading such risks across multiple counterparties and monitoring the risk profiles of these counterparties.

Accounts Receivable

Accounts receivable are unsecured and derived from revenues earned from clients located around the globe. FactSet does

not

require collateral from its clients but performs credit evaluations on an ongoing basis. The Company maintains reserves for potential write-offs and evaluates the adequacy of the reserves periodically. These losses have historically been within expectations.

single client represented

10%

or more of FactSet’s total revenues in any period presented. At

May 31, 2017,

the Company’s largest individual client accounted for

of total annual subscriptions and subscriptions from the

ten

largest clients did

not

surpass

15%

of total annual subscriptions, consistent with

August 31, 2016.

As of

May 31, 2017

the receivable reserve was

$1.7

million compared to a reserve of

$1.5

million as of

August 31, 2016

Derivative Instruments

As a result of the use of derivative instruments, the Company is exposed to counterparty credit risk. FactSet has incorporated counterparty risk into the fair value of its derivative assets and its own credit risk into the value of the Company’s derivative liabilities. FactSet calculates credit risk from observable data related to CDS as quoted by publicly available information. Counterparty risk is represented by CDS spreads related to the senior secured debt of the respective bank with whom FactSet has executed these derivative transactions. Because CDS spread information is

not

available for FactSet, the Company’s credit risk is determined based on using a simple average of CDS spreads for peer companies as determined by FactSet. To mitigate counterparty credit risk, FactSet enters into contracts with large financial institutions and regularly reviews credit exposure balances as well as the creditworthiness of the counterparties.

Note 4 - Fair Value Measures (Tables)

9 Months Ended

May 31, 2017

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

	Fair Value Measurements at May 31, 2017
(in thousands)	Level 1		Level 2		Level 3		Total
Assets
Corporate money market funds (1)	$	22,106	$	—	$	—	$	22,106
Mutual funds (2)		—		15,542		—		15,542
Certificates of deposit ( 3 )		—		16,385		—		16,385
Derivative instruments (4 )		—		5,468		—		5,468
Total assets measured at fair value	$	22,106	$	37,396	$	—	$	59,502

Liabilities
Derivative instruments ( 4 )	$	—	$	596	$	—	$	596
Total liabilities measured at fair value	$	—	$	596	$	—	$	596

	Fair Value Measurements at August 31, 2016
(in thousands)	Level 1		Level 2		Level 3		Total
Assets
Corporate money market funds (1)	$	92,765	$	—	$	—	$	92,765
Certificates of deposit ( 3 )		—		24,217		—		24,217
Derivative instruments ( 4 )		—		869		—		869
Total assets measured at fair value	$	92,765	$	25,086	$	—	$	117,851

Liabilities
Derivative instruments ( 4 )	$	—	$	2,791	$	—	$	2,791
Total liabilities measured at fair value	$	—	$	2,791	$	—	$	2,791

Note 5 - Derivative Instruments (Tables)

9 Months Ended

May 31, 2017

Schedule of Foreign Exchange Contracts, Statement of Financial Position [Table Text Block]

(in thousands)	Gross Notional Value				Fair Value (Liability) Asset
Currency Hedged (in U.S. dollars)	May 31, 2017		August 31, 2016		May 31, 2017			August 31, 2016
British Pound Sterling	$	7,560	$	33,280	$	(596	)	$	(2,791	)
Indian Rupee		56,520		58,410		5,468			869
Total	$	64,080	$	91,690	$	4,872		$	(1,922	)

Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]

(in thousands)
Designation of Derivatives	Balance Sheet Location	May 31, 2017		August 31, 2016
Derivatives designated as hedging instruments	Assets: Foreign Currency Forward Contracts
	Prepaid expenses and other current assets	$	2,738	$	163
	Other assets	$	2,730	$	706
	Liabilities: Foreign Currency Forward Contracts
	Accounts payable and accrued expenses	$	596	$	2,791

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block]

(in thousands)	Gain Recognized in AOCL on Derivatives (Effective Portion)				Location of Loss Reclassified from AOCL into Income (Effective Portion)	Loss Reclassified from AOCL into Income (Effective Portion)
Derivatives in Cash Flow Hedging Relationships	2017		2016			2017			2016
Foreign currency forward contracts	$	3,467	$	3,900	SG&A	$	(403	)	$	(12	)

(in thousands)	Gain Recognized in AOCL on Derivatives (Effective Portion)				Location of Loss Reclassified from AOCL into Income (Effective Portion)	(Loss) Gain Reclassified from AOCL into Income (Effective Portion)
Derivatives in Cash Flow Hedging Relationships	2017		2016			2017			2016
Foreign currency forward contracts	$	4,006	$	404	SG&A	$	(2,788	)	$	40

Note 6 - Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

May 31, 2017

Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]

	May 31, 2017				May 31, 2016
(in thousands)	Pre-tax		Net of tax		Pre-tax		Net of tax
Foreign currency translation adjustments	$	21,316	$	21,316	$	8,883	$	8,883
Realized loss on cash flow hedges reclassified to earnings (1)		403		247		12		7
Unrealized gain on cash flow hedges recognized in AOCL		3,467		2,138		3,900		2,457
Other comprehensive income	$	25,186	$	23,701	$	12,795	$	11,347

	May 31, 2017				May 31, 2016
(in thousands)	Pre-tax		Net of tax		Pre-tax			Net of tax
Foreign currency translation adjustments	$	10,680	$	10,680	$	(7,867	)	$	(7,867	)
Realized loss (gain) on cash flow hedges reclassified to earnings (1)		2,788		1,755		(40	)		(25	)
Unrealized gain on cash flow hedges recognized in AOCL		4,006		2,478		404			254
Other comprehensive income ( loss )	$	17,474	$	14,913	$	(7,503	)	$	(7,638	)

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

(in thousands)	May 31, 2017			August 31, 2016
Accumulated unrealized gains (losses) on cash flow hedges, net of tax	$	3,018		$	(1,215	)
Accumulated foreign currency translation adjustments		(56,658	)		(67,338	)
Total accumulated other comprehensive loss	$	(53,640	)	$	(68,553	)

Note 7 - Segment Information (Tables)

9 Months Ended

May 31, 2017

Schedule of Segment Reporting Information, by Segment [Table Text Block]

(in thousands) For the three months ended May 31, 2017	U.S.		Europe		Asia Pacific		Total
Revenues from clients	$	197,834	$	87,327	$	26,959	$	312,120
Segment operating profit		34,382		37,766		15,494		87,642
Total assets		708,440		555,366		94,208		1,358,014
Capital expenditures		6,211		515		1,210		7,936

For the three months ended May 31, 2016	U.S.		Europe		Asia Pacific		Total
Revenues from clients	$	193,166	$	70,243	$	24,092	$	287,501
Segment operating profit		42,020		33,304		13,966		89,290
Total assets		696,832		264,910		77,233		1,038,975
Capital expenditures		6,060		913		1,260		8,233

For the nine months ended May 31, 2017	U.S.		Europe		Asia Pacific		Total
Revenues from clients	$	580,090	$	235,464	$	78,983	$	894,537
Segment operating profit		110,574		114,282		44,851		269,707
Capital expenditures		21,311		1,176		3,494		25,981

For the nine months ended May 31, 2016	U.S.		Europe		Asia Pacific		Total
Revenues from clients	$	565,063	$	206,198	$	68,540	$	839,801
Segment operating profit		127,479		95,536		38,927		261,942
Capital expenditures		29,133		2,181		3,357		34,671

Note 8 - Business Combinations (Tables)

9 Months Ended

May 31, 2017

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

(i n thousands )
Tangible assets acquired	$	27,642
Amortizable intangible assets
Software technology		18,261
Client relationships		37,597
Trade name		741
Goodwill		174,024
Total assets acquired	$	258,265
Liabilities assumed		(41,372	)
Net assets acquired	$	216,893

(i n thousands )
Tangible assets acquired	$	8,242
Amortizable intangible assets
Software technology		10,916
Client relationships		5,954
Non-compete agreements		806
Trade name		571
Goodwill		50,832
Total assets acquired	$	77,321
Liabilities assumed		(9,434	)
Net assets acquired	$	67,887

(i n thousands )
Tangible assets acquired	$	9,656
Amortizable intangible assets
Software technology		43,000
Client relationships		27,000
Non-compete agreements		3,500
Trade name		2,000
Goodwill		187,378
Total assets acquired	$	272,534
Liabilities assumed		(8,951	)
Net assets acquired	$	263,583

Note 10 - Goodwill (Tables)

9 Months Ended

May 31, 2017

Schedule of Goodwill [Table Text Block]

(i n thousands )	U.S.		Europe		Asia Pacific			Total
Balance at August 31, 2016	$	367,480	$	82,280	$	3,155		$	452,915
Goodwill acquired during the period		18,233		215,822		—			234,055
Foreign currency translations		—		8,901		(204	)		8,697
Balance at May 31, 2017	$	385,713	$	307,003	$	2,951		$	695,667

Note 11 - Intangible Assets (Tables)

9 Months Ended

May 31, 2017

Schedule of Finite-Lived Intangible Assets [Table Text Block]

At May 31, 2017 (in thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Data content	$	33,393	$	17,917	$	15,476
Client relationships		97,322		20,291		77,031
Software technology		104,315		27,445		76,870
Non-compete agreements		4,779		1,303		3,476
Trade names		4,041		1,360		2,681
Total	$	243,850	$	68,316	$	175,534

At August 31, 2016 (in thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Data content	$	34,167	$	16,758	$	17,409
Client relationships		45,185		16,480		28,705
Software technology		62,560		20,545		42,015
Non-compete agreements		4,344		1,118		3,226
Trade names		2,728		922		1,806
Total	$	148,984	$	55,823	$	93,161

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

Fiscal Year (in thousands)	Estimated Amortization Expense
2017 (remaining three months)	$	6,108
2018		23,989
2019		23,148
2020		22,489
2021		20,927
Thereafter		78,873
Total	$	175,534

Note 12 - Common Stock and Earnings Per Share (Tables)

9 Months Ended

May 31, 2017

Schedule of Stock by Class [Table Text Block]

	Nine months ended
(i n thousands)	May 31, 2017			May 31, 2016
Balance at September 1		40,038			41,317
Common stock issued for employee stock plans		585			579
Repurchase of common stock from employees (1)		(37	)		(20	)
Repurchase of common stock under the share repurchase program		(1,285	)		(1,220	)
Repurchase of common stock under accelerated share repurchase agreement		(103	)		—
Balance at May 31, 2017 and May 31, 2016, respectively		39,198			40,656

Schedule of Weighted Average Number of Shares [Table Text Block]

(in thousands, except per share data)	Net Income (Numerator)		Weighted Average Common Shares (Denominator)		Per Share Amount
For the three months ended May 31, 2017
Basic EPS
Income available to common stockholders	$	65,414		39,317	$	1.66
Diluted EPS
Dilutive effect of stock options and restricted stock				140
Income available to common stockholders plus assumed conversions	$	65,414		39,457	$	1.66
For the three months ended May 31, 2016
Basic EPS
Income available to common stockholders	$	66,781		40,779	$	1.64
Diluted EPS
Dilutive effect of stock options and restricted stock				410
Income available to common stockholders plus assumed conversions	$	66,781		41,189	$	1.62
For the nine months ended May 31, 2017
Basic EPS
Income available to common stockholders	$	198,707		39,528	$	5.03
Diluted EPS
Dilutive effect of stock options and restricted stock				208
Income available to common stockholders plus assumed conversions	$	198,707		39,736	$	5.00
For the nine months ended May 31, 2016
Basic EPS
Income available to common stockholders	$	194,508		41,094	$	4.73
Diluted EPS
Dilutive effect of stock options and restricted stock				502
Income available to common stockholders plus assumed conversions	$	194,508		41,596	$	4.68

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

+ References

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-Name Accounting Standards Codification
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+ Details

Note 13 - Stockholders' Equity (Tables)

9 Months Ended

May 31, 2017

Dividends Declared [Table Text Block]

Declaration Date	Dividends Per Share of Common Stock		Type	Record Date	Total $ Amount (in thousands)		Payment Date
May 5, 2017	$	0.56	Regular (cash)	May 31, 2017	$	21,951	June 20, 2017
February 6, 2017	$	0.50	Regular (cash)	February 28, 2017	$	19,709	March 21, 2017
November 10, 2016	$	0.50	Regular (cash)	November 30, 2016	$	19,852	December 20, 2016
August 5, 2016	$	0.50	Regular (cash)	August 31, 2016	$	20,019	September 20, 2016
May 6, 2016	$	0.50	Regular (cash)	May 31, 2016	$	20,171	June 21, 2016
February 5, 2016	$	0.44	Regular (cash)	May 31, 2016	$	18,044	March 15, 2016
November 6, 2015	$	0.44	Regular (cash)	November 30, 2015	$	18,208	December 15, 2015
August 10, 2015	$	0.44	Regular (cash)	August 31, 2015	$	18,179	September 15, 2015

Note 14 - Employee Stock Option and Retirement Plans (Tables)

9 Months Ended

May 31, 2017

Schedule of Share-based Compensation, Stock Options and Stock Appreciation Rights Award Activity [Table Text Block]

(in thousands, except per share data)	Number Outstanding			Weighted Average Exercise Price Per Share
Balance at August 31, 2016		3,364		$	129.54
Granted – nonperformance-based		671		$	152.28
Granted – performance-based		23		$	159.45
Exercised		(199	)	$	74.56
Forfeited		(26	)	$	147.22
Balance at November 30, 2016		3,833		$	136.43
Granted – performance-based		62		$	169.16
Granted – non-employee Directors grant		24		$	170.24
Exercised		(170	)	$	89.62
Forfeited		(50	)	$	141.50
Balance at February 28, 2017		3,699		$	139.27
Granted – nonperformance-based		12		$	163.05
Exercised		(62	)	$	93.25
Forfeited		(52	)	$	151.65
Balance at May 31, 2017		3,597		$	139.97

Schedule of Share-based Compensation Vesting Percentage and Related Expenses [Table Text Block]

Vesting Percentage (in thousands)	Cumulative Catch-up Adjustment*			Remaining Expense to be Recognized
0%	$	(694	)		—
10%	$	(520	)	$	127
40% (current expectation)		—		$	506
70%	$	520		$	886
100%	$	1,041		$	1,265

Vesting Percentage (in thousands)	Cumulative Catch-up Adjustment*		Remaining Expense to be Recognized
0% (current expectation)		—		—
50%	$	3,981	$	8,269
70%	$	5,574	$	11,577
100%	$	7,963	$	16,538

Vesting Percentage (in thousands)	Cumulative Catch-up Adjustment*		Remaining Expense to be Recognized
0% (current expectation)		—		—
50%	$	83	$	417
70%	$	116	$	583
100%	$	166	$	833

Vesting Percentage (in thousands)	Cumulative Catch-up Adjustment*		Remaining Expense to be Recognized
0% (current expectation)		—		—
100%	$	202	$	2,502

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]

(in thousands, except per award data)	Number Outstanding			Weighted Average Grant Date Fair Value Per Award
Balance at August 31, 2016		262		$	126.27
Granted		5		$	151.63
Vested (1)		(95	)	$	112.70
Balance at November 30, 2016		172		$	134.02
Granted		8		$	161.31
Forfeited		(3	)	$	114.42
Vested (2)		(6	)	$	105.91
Balance at February 28, 2017		171		$	136.65
Forfeited		(3	)	$	116.38
Balance at May 31, 2017		168		$	136.95

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]

(in thousands)	Share-based Awards Available for Grant under the Employee Option Plan			Share-based Awards Available for Grant under the Non-Employee Directors Plan
Balance at August 31, 2016		1,491			66
Granted – nonperformance-based options		(671	)		—
Granted – performance-based options		(23	)		—
Granted – restricted stock awards (1)		(12	)		—
Share-based awards canceled/forfeited (2)		29			—
Balance at November 30, 2016		814			66
Granted – nonperformance-based options		—			(24	)
Granted – performance-based options		(62	)		—
Granted – restricted stock awards (1)		(20	)		—
Share-based awards canceled/forfeited (2)		56			—
Balance at February 28, 2017		788			42
Granted – nonperformance-based options		(12	)		—
Share-based awards canceled/forfeited (2)		58			—
Balance at May 31, 2017		834			42

Note 15 - Stock-based Compensation (Tables)

9 Months Ended

May 31, 2017

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

Three months ended	May 31, 2017				May 31, 2016
Term structure of risk-free interest rate		0.49%	-	1.89%		0.40%	-	1.90%
Expected life (years)			7.4				7.5
Term structure of volatility		21%	-	29%		24%	-	30%
Dividend yield			1.18%				1.33%
Weighted average estimated fair value			$42.23				$40.57
Weighted average exercise price			$163.05				$152.10
Fair value as a percentage of exercise price			25.9%				26.7%

Nine months ended	May 31, 2017				May 31, 2016
Term structure of risk-free interest rate		0.07%	-	2.09%		0.07%	-	2.12%
Expected life (years)			7.4				7.7
Term structure of volatility		21%	-	30%		21%	-	30%
Dividend yield			1.18%				1.09%
Weighted average estimated fair value			$39.98				$46.05
Weighted average exercise price			$154.01				$168.51
Fair value as a percentage of exercise price			26.0%				27.3%

The 2008 Employee Stock Purchase Plan [Member]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

Three months ended	May 31, 2017			May 31, 2016
Risk-free interest rate		0.81	%		0.27	%
Expected life (months)		3			3
Expected volatility		8.3	%		11.53	%
Dividend yield		1.24	%		1.29	%
Weighted average estimated fair value	$	29.84		$	26.07

Nine months ended	May 31, 2017			May 31, 2016
Risk-free interest rate		0.56	%		0.20	%
Expected life (months)		3			3
Expected volatility		8.7	%		11.42	%
Dividend yield		1.21	%		1.15	%
Weighted average estimated fair value	$	28.48		$	27.19

Non Employee Directors Stock Option Plan [Member]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]


Risk-free interest rate	1.95	%
Expected life (years)	5.4
Expected volatility	22.7	%
Dividend yield	1.24	%


Risk-free interest rate	1.62	%
Expected life (years)	5.4
Expected volatility	23.0	%
Dividend yield	1.05	%

Note 16 - Income Taxes (Tables)

9 Months Ended

May 31, 2017

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

	Three months ended						Nine months ended
(in thousands)	May 31, 2017			May 31, 2016			May 31, 2017			May 31, 2016
Income before income taxes	$	85,229		$	88,857		$	264,539		$	261,177
Total provision for income taxes	$	19,815		$	22,076		$	65,832		$	66,669
Effective tax rate		23.2	%		24.8	%		24.9	%		25.5%	(1)

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

(in thousands)	May 31, 2017			August 31, 2016
Current
Receivable reserve	$	619		$	531
Deferred rent		1,184			1,022
Other		820			1,605
Net current deferred tax assets	$	2,623		$	3,158
Non-current
Depreciation on property, equipment and leasehold improvements	$	3,335		$	5,194
Deferred rent		10,539			9,626
Stock-based compensation		18,154			19,927
Purchased intangible assets, including acquired technology		(31,495	)		(24,645	)
Other		4,566			3,304
Net non-current deferred tax assets	$	5,099		$	13,406
Total deferred tax assets	$	7,722		$	16,564

(in thousands)	May 31, 2017			August 31, 2016
Current
Other	$	1,781		$	291
Net current deferred tax liabilities	$	1,781		$	291
Non-current
Stock-based compensation	$	(944	)	$	—
Depreciation on property, equipment and leasehold improvements		(441	)		—
Purchased intangible assets, including acquired technology		25,928			1,666
Other		(1,504	)		42
Net non-current deferred tax liabilities	$	23,039		$	1,708
Total deferred tax liabilities	$	24,820		$	1,999

Summary of Income Tax Contingencies [Table Text Block]

(in thousands)
Unrecognized income tax benefits at August 31, 2016	$	8,782
Additions based on tax positions related to the current year		1,359
Additions for tax positions of prior years		2,461
Statute of limitations lapse		(1,822	)
Unrecognized income tax benefits at May 31, 2017	$	10,780

Summary of Income Tax Examinations [Table Text Block]

Major Tax Jurisdictions	Open Tax Years
U.S.
Federal		2014	through	2017
State (various)		2010	through	2017
Europe
France		2013	through	2017
United Kingdom		2012	through	2017

Note 17 - Long-term Debt (Tables)

9 Months Ended

May 31, 2017

Schedule of Debt [Table Text Block]

(in thousands)	May 31, 2017		August 31, 2016
2017 Revolving Credit Facility	$	575,000	$	—
2015 Revolving Credit Facility		—		300,000
Total Outstanding Debt	$	575,000	$	300,000

Note 18 - Commitments and Contingencies (Tables)

9 Months Ended

May 31, 2017

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

Years ended August 31, (in thousands)	Minimum Lease Payments
2017 (remaining three months)	$	8,659
2018		36,006
2019		33,161
2020		26,628
2021		20,473
Thereafter		156,742
Total	$	281,669

Note 4 - Fair Value Measures (Details Textual) - USD ($) $ in Millions	May 31, 2017	Aug. 31, 2016
Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 2 [Member]
Long-term Debt, Fair Value	$ 575	$ 300

Note 4 - Fair Value Measures - Assets and Liabilities Measured at Fair Value (Details) - Fair Value, Measurements, Recurring [Member] - USD ($)
$ in Thousands

May 31, 2017

Aug. 31, 2016

$ 59,502

$ 117,851

^[1]

596

2,791

596

2,791

Money Market Funds [Member]

^[1]

5,468

869

^[2]

22,106

92,765

Mutual Funds [Member]

Certificates of Deposit [Member]

^[3]

15,542

Fair Value, Inputs, Level 1 [Member]

^[4]

16,385

24,217

22,106

92,765

^[1]

Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member]

^[1]

Fair Value, Inputs, Level 1 [Member] | Mutual Funds [Member]

^[2]

22,106

92,765

Fair Value, Inputs, Level 1 [Member] | Certificates of Deposit [Member]

^[3]

Fair Value, Inputs, Level 2 [Member]

^[4]

37,396

25,086

^[1]

596

2,791

596

2,791

Fair Value, Inputs, Level 2 [Member] | Money Market Funds [Member]

^[1]

5,468

869

Fair Value, Inputs, Level 2 [Member] | Mutual Funds [Member]

^[2]

Fair Value, Inputs, Level 2 [Member] | Certificates of Deposit [Member]

^[3]

15,542

Fair Value, Inputs, Level 3 [Member]

^[4]

16,385

24,217

^[1]

Fair Value, Inputs, Level 3 [Member] | Money Market Funds [Member]

^[1]

Fair Value, Inputs, Level 3 [Member] | Mutual Funds [Member]

^[2]

Fair Value, Inputs, Level 3 [Member] | Certificates of Deposit [Member]

^[3]

Unrealized gain on cash flow hedges recognized in AOCL

^[4]

[1]	The Company utilizes the income approach to measure fair value for its derivative instruments (foreign currency forward contracts). The income approach uses pricing models that rely on market observable inputs such as spot, forward and interest rates, as well as credit default swap spreads and therefore are classified as Level 2.
[2]	The Company's corporate money market funds are traded in an active market and the net asset value of each fund on the last day of the quarter is used to determine its fair value. As such, the Company's corporate money market funds are classified as Level 1 and included in cash and cash equivalents on the Consolidated Balance Sheets.
[3]	The Company's mutual funds have a fair value based on the fair value of the underlying investments held by the mutual funds allocated to each share of the mutual fund using a net asset value approach. The fair value of the underlying investments is based on observable inputs. As such, the Company's mutual funds are classified as Level 2 and are classified as investments (short-term) on the Consolidated Balance Sheets.
[4]	The Company's certificates of deposit held for investment are not debt securities and are classified as Level 2. These certificates of deposit have original maturities greater than three months, but less than one year and, as such, are classified as investments (short-term) on the Consolidated Balance Sheets.

Note 5 - Derivative Instruments (Details Textual) $ in Thousands, £ in Millions, ₨ in Billions	9 Months Ended
	May 31, 2017 USD ($)	May 31, 2017 GBP (£)	May 31, 2017 INR (₨)	Aug. 31, 2016 USD ($)
Foreign Exchange Contract [Member] \| Cash Flow Hedging [Member] \| Designated as Hedging Instrument [Member]
Derivative Asset, Notional Amount	$ 64,080	£ 5.4	₨ 4.2	$ 91,690
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimated Net Amount to be Transferred	$ 2,100
United Kingdom, Pounds
Percent of Foreign Exchange Contracts Hedged	50.00%
United Kingdom, Pounds \| Foreign Exchange Contract [Member] \| Cash Flow Hedging [Member] \| Designated as Hedging Instrument [Member]
Derivative Asset, Notional Amount	$ 7,560			33,280
India, Rupees
Percent of Foreign Exchange Contracts Hedged	75.00%
India, Rupees \| Foreign Exchange Contract [Member] \| Cash Flow Hedging [Member] \| Designated as Hedging Instrument [Member]
Derivative Asset, Notional Amount	$ 56,520			$ 58,410

Note 5 - Derivative Instruments - Hedging Positions and Corresponding Fair Values (Details) - Designated as Hedging Instrument [Member] - Foreign Exchange Contract [Member] - Cash Flow Hedging [Member] $ in Thousands, £ in Millions, ₨ in Billions	May 31, 2017 USD ($)	May 31, 2017 GBP (£)	May 31, 2017 INR (₨)	Aug. 31, 2016 USD ($)
Gross Notional Value	$ 64,080	£ 5.4	₨ 4.2	$ 91,690
Fair Value Asset (Liability)	4,872			(1,922)
United Kingdom, Pounds
Gross Notional Value	7,560			33,280
Fair Value Asset (Liability)	(596)			(2,791)
India, Rupees
Gross Notional Value	56,520			58,410
Fair Value Asset (Liability)	$ 5,468			$ 869

Note 5 - Derivative Instruments - Fair Value Amounts of Derivative Instruments and Gains (Details) - Foreign Exchange Contract [Member] - Cash Flow Hedging [Member] - Designated as Hedging Instrument [Member] - USD ($) $ in Thousands	May 31, 2017	Aug. 31, 2016
Prepaid Expenses and Other Current Assets [Member]
Derivative assets	$ 2,738	$ 163
Other Assets [Member]
Derivative assets	2,730	706
Accounts Payable and Accrued Liabilities [Member]
Derivative liabilities	$ 596	$ 2,791

Note 5 - Derivative Instruments - Derivatives in Cash Flow Hedging Relationships (Details) - Cash Flow Hedging [Member] - Designated as Hedging Instrument [Member] - Foreign Exchange Contract [Member] - Selling, General and Administrative Expenses [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2017	May 31, 2016	May 31, 2017	May 31, 2016
Foreign currency forward contracts	$ (403)	$ (12)	$ (2,788)	$ 40
Foreign currency forward contracts	$ 3,467	$ 3,900	$ 4,006	$ 404

Note 6 - Other Comprehensive (Loss) Income and Accumulated Other Comprehensive Loss - Reclassified Out of Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

May 31, 2017

May 31, 2016

May 31, 2017

May 31, 2016

$ 3,467

$ 3,900

$ 4,006

$ 404

Unrealized gain on cash flow hedges recognized in AOCL

2,138

2,457

2,478

254

Other comprehensive income (loss)

25,186

12,795

17,474

(7,503)

Other comprehensive income (loss)

23,701

11,347

14,913

(7,638)

Foreign currency translation adjustments

21,316

8,883

10,680

(7,867)

Foreign currency translation adjustments

21,316

8,883

10,680

(7,867)

Realized loss (gain) on cash flow hedges reclassified to earnings

^[1]

403

2,788

(40)

Realized loss (gain) on cash flow hedges reclassified to earnings

^[1]

$ 247

$ 7

$ 1,755

$ (25)

[1]	Reclassified to Selling, General and Administrative Expenses

Note 6 - Other Comprehensive (Loss) Income and Accumulated Other Comprehensive Loss - Components of Other Comprehensive Loss (Details) - USD ($) $ in Thousands	May 31, 2017	Aug. 31, 2016
Accumulated unrealized gains (losses) on cash flow hedges, net of tax	$ 3,018	$ (1,215)
Accumulated foreign currency translation adjustments	(56,658)	(67,338)
Total accumulated other comprehensive loss	$ (53,640)	$ (68,553)

Note 7 - Segment Information (Details Textual) $ in Thousands	9 Months Ended
	May 31, 2017 USD ($)	Aug. 31, 2016 USD ($)
Number of Operating Segments	3
Goodwill	$ 695,667	$ 452,915
UNITED STATES
Goodwill	$ 385,713	367,480
Goodwill Percentage Per Segment	55.00%
Europe [Member]
Goodwill	$ 307,003	82,280
Goodwill Percentage Per Segment	44.00%
Asia Pacific [Member]
Goodwill	$ 2,951	$ 3,155
Goodwill Percentage Per Segment	1.00%

Note 7 - Segment Information - Results of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2017	May 31, 2016	May 31, 2017	May 31, 2016	Aug. 31, 2016
Total assets	$ 1,358,014	$ 1,038,975	$ 1,358,014	$ 1,038,975	$ 1,019,161
Capital expenditures	7,936	8,233	25,981	34,671
Revenues from clients	312,120	287,501	894,537	839,801
Segment operating profit	87,642	89,290	269,707	261,942
UNITED STATES
Total assets	708,440	696,832	708,440	696,832
Capital expenditures	6,211	6,060	21,311	29,133
Revenues from clients	197,834	193,166	580,090	565,063
Segment operating profit	34,382	42,020	110,574	127,479
Europe [Member]
Total assets	555,366	264,910	555,366	264,910
Capital expenditures	515	913	1,176	2,181
Revenues from clients	87,327	70,243	235,464	206,198
Segment operating profit	37,766	33,304	114,282	95,536
Asia Pacific [Member]
Total assets	94,208	77,233	94,208	77,233
Capital expenditures	1,210	1,260	3,494	3,357
Revenues from clients	26,959	24,092	78,983	68,540
Segment operating profit	$ 15,494	$ 13,966	$ 44,851	$ 38,927

Note 8 - Business Combinations (Details Textual) $ in Thousands				3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 17, 2017 USD ($)	Nov. 08, 2016 USD ($)	Oct. 16, 2015 USD ($)	Nov. 30, 2016 USD ($)	May 31, 2017 USD ($)	Aug. 31, 2016 USD ($)
Finite-lived Intangible Assets Acquired					$ 92,800
Goodwill, Acquired During Period					234,055
BI-SAM Technologies [Member] \| Minimum [Member]
Entity Number of Employees	160
Vermilion Holdings Limited [Member]
Entity Number of Employees		59
Portware LLC [Member]
Entity Number of Employees			166
BI-SAM Technologies [Member]
Business Combination, Consideration Transferred	$ 216,900
Finite-lived Intangible Assets Acquired	56,600
Goodwill, Acquired During Period	$ 174,000
BI-SAM Technologies [Member] \| Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life	16 years
BI-SAM Technologies [Member] \| Computer Software, Intangible Asset [Member]
Finite-Lived Intangible Asset, Useful Life	5 years
BI-SAM Technologies [Member] \| Trade Names [Member]
Finite-Lived Intangible Asset, Useful Life	4 years
BI-SAM Technologies [Member] \| Selling, General and Administrative Expenses [Member]
Business Combination, Acquisition Related Costs					$ 3,200
Vermilion Holdings Limited [Member]
Business Combination, Consideration Transferred		$ 67,900
Finite-lived Intangible Assets Acquired		18,200
Goodwill, Acquired During Period		$ 50,800
Vermilion Holdings Limited [Member] \| Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life		15 years
Vermilion Holdings Limited [Member] \| Computer Software, Intangible Asset [Member]
Finite-Lived Intangible Asset, Useful Life		6 years
Vermilion Holdings Limited [Member] \| Trade Names [Member]
Finite-Lived Intangible Asset, Useful Life		4 years
Vermilion Holdings Limited [Member] \| Noncompete Agreements [Member]
Finite-Lived Intangible Asset, Useful Life		3 years
Vermilion Holdings Limited [Member] \| Selling, General and Administrative Expenses [Member]
Business Combination, Acquisition Related Costs				$ 700
Portware LLC [Member]
Business Combination, Consideration Transferred			$ 263,600
Business Combination, Acquisition Related Costs						$ 700
Finite-lived Intangible Assets Acquired			75,500
Goodwill, Acquired During Period			$ 187,400
Goodwill Percentage Per Segment			77.00%
Portware LLC [Member] \| Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life			16 years
Portware LLC [Member] \| Computer Software, Intangible Asset [Member]
Finite-Lived Intangible Asset, Useful Life			8 years
Portware LLC [Member] \| Trade Names [Member]
Finite-Lived Intangible Asset, Useful Life			5 years
Portware LLC [Member] \| Noncompete Agreements [Member]
Finite-Lived Intangible Asset, Useful Life			7 years

Note 8 - Business Combinations - Business Acquired (Details) - USD ($) $ in Thousands	May 31, 2017	Mar. 17, 2017	Nov. 08, 2016	Sep. 23, 2016	Aug. 31, 2016
Goodwill	$ 695,667				$ 452,915
BI-SAM Technologies [Member]
Net assets acquired		$ 216,893
Tangible assets acquired		27,642
Goodwill		174,024
Total assets acquired		258,265
Liabilities assumed		(41,372)
BI-SAM Technologies [Member] \| Computer Software, Intangible Asset [Member]
Amortizable intangible assets		18,261
BI-SAM Technologies [Member] \| Customer Relationships [Member]
Amortizable intangible assets		37,597
BI-SAM Technologies [Member] \| Trade Names [Member]
Amortizable intangible assets		$ 741
Vermilion Holdings Limited [Member]
Net assets acquired			$ 67,887
Tangible assets acquired			8,242
Goodwill			50,832
Total assets acquired			77,321
Liabilities assumed			(9,434)
Vermilion Holdings Limited [Member] \| Computer Software, Intangible Asset [Member]
Amortizable intangible assets			10,916
Vermilion Holdings Limited [Member] \| Customer Relationships [Member]
Amortizable intangible assets			5,954
Vermilion Holdings Limited [Member] \| Trade Names [Member]
Amortizable intangible assets			571
Vermilion Holdings Limited [Member] \| Noncompete Agreements [Member]
Amortizable intangible assets			$ 806
Portware LLC [Member]
Net assets acquired				$ 263,583
Tangible assets acquired				9,656
Goodwill				187,378
Total assets acquired				272,534
Liabilities assumed				(8,951)
Portware LLC [Member] \| Computer Software, Intangible Asset [Member]
Amortizable intangible assets				43,000
Portware LLC [Member] \| Customer Relationships [Member]
Amortizable intangible assets				27,000
Portware LLC [Member] \| Trade Names [Member]
Amortizable intangible assets				2,000
Portware LLC [Member] \| Noncompete Agreements [Member]
Amortizable intangible assets				$ 3,500

Note 9 - Dispositions (Details Textual) - Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] - Market Research Business [Member] - USD ($) $ in Millions		3 Months Ended
	Jul. 01, 2016	Feb. 28, 2017	Aug. 31, 2016
Proceeds from Divestiture of Businesses	$ 165.0
Proceeds from Divestiture of Businesses, Bonus Adjustment	$ 9.7
Gain (Loss) on Disposition of Business, Net of Tax			$ 112.5
Other Expense [Member]
Gain (Loss) on Disposition of Business, Net of Tax		$ (1.2)

Note 10 - Goodwill (Details Textual) $ in Thousands	9 Months Ended
Note 10 - Goodwill (Details Textual) $ in Thousands	May 31, 2017 USD ($)
Number of Reporting Units	3
Goodwill, Impairment Loss	$ 0
Goodwill, Acquired During Period	$ 234,055

Note 10 - Goodwill - Changes in the Carrying Amount of Goodwill by Segment (Details) $ in Thousands	9 Months Ended
	May 31, 2017 USD ($)
Begining Balance	$ 452,915
Goodwill acquired during the period	234,055
Foreign currency translations	8,697
Ending Balance	695,667
UNITED STATES
Begining Balance	367,480
Goodwill acquired during the period	18,233
Foreign currency translations
Ending Balance	385,713
Europe [Member]
Begining Balance	82,280
Goodwill acquired during the period	215,822
Foreign currency translations	8,901
Ending Balance	307,003
Asia Pacific [Member]
Begining Balance	3,155
Goodwill acquired during the period
Foreign currency translations	(204)
Ending Balance	$ 2,951

Note 11 - Intangible Assets (Details Textual) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	May 31, 2017	May 31, 2016	May 31, 2017	May 31, 2016
Finite-lived Intangible Assets Acquired			$ 92.8
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			11 years 182 days
Amortization of Intangible Assets	$ 5.8	$ 4.1	$ 13.8	$ 11.1

Note 11 - Intangible Assets - Identifiable Intangible Assets (Details) - USD ($) $ in Thousands	May 31, 2017	Aug. 31, 2016
Gross Carrying Amount	$ 243,850	$ 148,984
Accumulated Amortization	68,316	55,823
Net Carrying Amount	175,534	93,161
Data Content [Member]
Gross Carrying Amount	33,393	34,167
Accumulated Amortization	17,917	16,758
Net Carrying Amount	15,476	17,409
Customer Relationships [Member]
Gross Carrying Amount	97,322	45,185
Accumulated Amortization	20,291	16,480
Net Carrying Amount	77,031	28,705
Computer Software, Intangible Asset [Member]
Gross Carrying Amount	104,315	62,560
Accumulated Amortization	27,445	20,545
Net Carrying Amount	76,870	42,015
Noncompete Agreements [Member]
Gross Carrying Amount	4,779	4,344
Accumulated Amortization	1,303	1,118
Net Carrying Amount	3,476	3,226
Trade Names [Member]
Gross Carrying Amount	4,041	2,728
Accumulated Amortization	1,360	922
Net Carrying Amount	$ 2,681	$ 1,806

Note 11 - Intangible Assets - Estimated Amortization Expense (Details) $ in Thousands	May 31, 2017 USD ($)
2017 (remaining three months)	$ 6,108
2018	23,989
2019	23,148
2020	22,489
2021	20,927
Thereafter	78,873
Total	$ 175,534

Note 12 - Common Stock and Earnings Per Share (Details Textual) - USD ($) $ / shares in Units, $ in Thousands										3 Months Ended		9 Months Ended
	Jun. 19, 2017	May 05, 2017	Feb. 06, 2017	Nov. 10, 2016	Aug. 05, 2016	May 06, 2016	Feb. 05, 2016	Nov. 06, 2015	Aug. 10, 2015	May 31, 2017	May 31, 2016	May 31, 2017	May 31, 2016
Common Stock, Dividends, Per Share, Cash Paid		$ 0.56
Dividends, Cash	$ 22,000	$ 21,951	$ 19,709	$ 19,852	$ 20,019	$ 20,171	$ 18,044	$ 18,208	$ 18,179
Shares Paid for Tax Withholding for Share Based Compensation												37,042	19,892
Payments Related to Tax Withholding for Share-based Compensation												$ 5,700	$ 3,300
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount										492,649	688,538	492,649	688,538
Performance Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount										754,561	937,089	754,561	937,089
Per Annum [Member]
Common Stock, Dividends, Per Share, Cash Paid		$ 2.24

Note 12 - Common Stock and Earnings Per Share - Shares of Common Stock Outstanding (Details) - shares

3 Months Ended

9 Months Ended

Jul. 05, 2016

Nov. 30, 2016

May 31, 2017

May 31, 2016

Common stock issued for employee stock plans (in shares)

40,038,225

41,317,000

585,000

579,000

(1,284,822)

(1,220,000)

Repurchase of Common Stock from Employees [Member]

39,198,325

40,656,000

Share Repurchase Program [Member]

^[1]

(37,000)

(20,000)

(1,285,000)

(1,220,000)

ASR Agreement [Member]

Common Stock, Shares, Outstanding

(595,607)

(102,916)

(103,000)

[1]	For the nine months ended May 31, 2017 and May 31, 2016, the Company repurchased 37,042 and 19,892 shares, or $5.7 million and $3.3million, of common stock, respectively, in settlement of employee tax withholding obligations due upon the vesting of restricted stock.

Note 12 - Common Stock and Earnings Per Share - Weighted Average Shares Outstanding (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2017	May 31, 2016	May 31, 2017	May 31, 2016
Income available to common stockholders plus assumed conversions, net income (numerator)	$ 65,414	$ 66,781	$ 198,707	$ 194,508
Diluted weighted average common shares (in shares)	39,457	41,189	39,736	41,596
Diluted earnings per common share (in dollars per share)	$ 1.66	$ 1.62	$ 5	$ 4.68
Income available to common stockholders, net income (numerator)	$ 65,414	$ 66,781	$ 198,707	$ 194,508
Basic weighted average common shares (in shares)	39,317	40,779	39,528	41,094
Basic earnings per common share (in dollars per share)	$ 1.66	$ 1.64	$ 5.03	$ 4.73
Dilutive effect of stock options and restricted stock, weighted average common share (denominator) (in shares)	140	410	208	502

Note 13 - Stockholders' Equity (Details Textual) - USD ($)
$ / shares in Units, $ in Millions

3 Months Ended

9 Months Ended

Mar. 27, 2017

Jul. 05, 2016

Jul. 01, 2016

Feb. 28, 2017

^[1]

Nov. 30, 2016

May 31, 2017

May 31, 2016

Aug. 31, 2016

Aug. 31, 2015

Treasury Stock, Shares

12,539,371

11,112,753

39,198,325

40,656,000

40,038,225

41,317,000

Stock Repurchase Program, Increase in Authorized Amount

$ 300.0

Stock Repurchase Program, Remaining Authorized Repurchase Amount

$ 288.2

Treasury Stock, Value, Acquired, Cost Method

$ 208.8

$ 189.5

Treasury Stock, Shares, Acquired

1,284,822

1,220,000

Shares Paid for Tax Withholding for Share Based Compensation

37,042

19,892

Preferred Stock, Shares Authorized

10,000,000

Preferred Stock, Par or Stated Value Per Share

$ 0.01

Preferred Stock, Shares Outstanding

Preferred Stock, Shares Issued

Common Stock, Shares Authorized

150,000,000

Common Stock, Par or Stated Value Per Share

$ 0.01

Common Stock, Shares, Issued

51,737,696

51,150,978

Restricted Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period

6,000

95,000

^[2]

101,234

51,762

ASR Agreement [Member]

Treasury Stock, Value, Acquired, Cost Method

$ 120.0

Percent of Common Stock to Be Repurchased at Closing Price

80.00%

Treasury Stock, Shares, Acquired

595,607

102,916

103,000

[1]

Of the 6,357 restricted stock awards that vested during the second quarter of fiscal 2017, 5,150 related to awards granted on February 3, 2014. The remaining 40% of these restricted stock awards cliff vest after five years on February 3, 2019 and are amortized to expense over the vesting period using the straight-line attribution method. The other restricted stock awards that vested related to awards granted in February 2015 in connection with the Code Red acquisition, which vested 100% on February 9, 2017.

[2]

Of the 94,877 restricted stock awards that vested during the first quarter of fiscal 2017, 73,522 related to awards granted on November 1, 2013. The remaining 40% of these restricted stock awards cliff vest after five years on November 1, 2018 and are amortized to expense over the vesting period using the straight-line attribution method. The other restricted stock awards that vested related primarily to awards granted in November 2015, which vest 20% per year on the anniversary date of the award.

Note 13 - Stockholders' Equity - Dividends Declared (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 19, 2017	May 05, 2017	Feb. 06, 2017	Nov. 10, 2016	Aug. 05, 2016	May 06, 2016	Feb. 05, 2016	Nov. 06, 2015	Aug. 10, 2015
Dividends Per Share of Common Stock (in dollars per share)		$ 0.56	$ 0.50	$ 0.50	$ 0.50	$ 0.50	$ 0.44	$ 0.44	$ 0.44
Record Date		May 31, 2017	Feb. 28, 2017	Nov. 30, 2016	Aug. 31, 2016	May 31, 2016	May 31, 2016	Nov. 30, 2015	Aug. 31, 2015
Total $ Amount	$ 22,000	$ 21,951	$ 19,709	$ 19,852	$ 20,019	$ 20,171	$ 18,044	$ 18,208	$ 18,179
Payment Date		Jun. 20, 2017	Mar. 21, 2017	Dec. 20, 2016	Sep. 20, 2016	Jun. 21, 2016	Mar. 15, 2016	Dec. 15, 2015	Sep. 15, 2015

Note 14 - Employee Stock Option and Retirement Plans (Details Textual) - USD ($)
$ / shares in Units, $ in Thousands

1 Months Ended

3 Months Ended

9 Months Ended

59 Months Ended

Feb. 03, 2014

Nov. 01, 2013

Jan. 31, 2017

Nov. 30, 2015

Feb. 28, 2015

Jul. 31, 2012

May 31, 2017

Feb. 28, 2017

Nov. 30, 2016

Sep. 30, 2016

Aug. 31, 2016

May 31, 2016

Feb. 29, 2016

Nov. 30, 2015

Feb. 28, 2015

May 31, 2017

May 31, 2016

May 31, 2017

Share Price

$ 165.69

$ 178.03

$ 165.69

Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent

85.00%

Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate

10.00%

Stock Issued During Period, Shares, Employee Stock Purchase Plans

17,314

17,538

54,554

53,711

Treasury Stock Acquired, Average Cost Per Share

$ 140.84

$ 131.57

$ 137.38

$ 129.83

Common Stock, Capital Shares Reserved for Future Issuance

353,990

Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent

60.00%

Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay

4.00%

Defined Contribution Plan, Employer Matching Contribution, Vesting Period

5 years

Defined Contribution Plan, Employer Discretionary Contribution Amount

$ 7,300

$ 7,100

Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price

$ 163.05

152.10

$ 154.01

$ 168.51

Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number

3,597,000

3,699,000

3,833,000

3,364,000

3,597,000

Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price

$ 139.97

$ 139.27

$ 136.43

$ 129.54

$ 139.97

Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized

$ 76,100

Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition

3 years 109 days

The 2004 Stock Option and Award Plan [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value

$ 34,800

$ 43,000

Employee Stock Option [Member]

Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price

$ 163.05

$ 169.16

$ 152.51

$ 152.10

$ 150.81

Employee Stock Option [Member] | The 2004 Stock Option and Award Plan [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price

$ 97.20

$ 89.42

$ 97.20

Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value

$ 57,100

$ 86,000

$ 57,100

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross

767,071

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period

5 years

Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price

$ 154.01

Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number

3,597,101

Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price

$ 139.97

Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized

$ 58,600

Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition

3 years 146 days

Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number

800,000

1,000,000

800,000

Employee Stock Option [Member] | The 2004 Stock Option and Award Plan [Member] | Minimum [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period

7 years

Employee Stock Option [Member] | The 2004 Stock Option and Award Plan [Member] | Maximum [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period

10 years

Performance Shares [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross

241,546

61,744

22,460

530,418

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage

20.00%

80.00%

Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares

193,256

Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price

$ 169.16

$ 159.45

Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized

$ 100

Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition

73 days

Performance Shares [Member] | Code Red, Inc. [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross

137,522

Performance Shares [Member] | Code Red, Inc. [Member] | Share-based Compensation Award, Tranche One [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross

68,761

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage

70.00%

Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized

900

$ 900

900

Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition

1 year 255 days

Performance Shares [Member] | Code Red, Inc. [Member] | Share-based Compensation Award, Tranche Two [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross

68,761

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period

4 years

Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized

$ 500

Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition

1 year 255 days

Performance Shares [Member] | Portware LLC [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross

20,911

530,418

Performance Shares [Member] | Portware LLC [Member] | Share-based Compensation Award, Tranche One [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage

40.00%

0.00%

Performance Shares [Member] | Portware LLC [Member] | Share-based Compensation Award, Tranche Two [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage

20.00%

50.00%

Performance Shares [Member] | Portware LLC [Member] | Share-based Compensation Award, Tranche Four [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage

100.00%

Performance Shares [Member] | Portware LLC [Member] | Share-based Compensation Award, Tranche Three [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage

70.00%

Performance Shares [Member] | Vermilion Holdings Limited [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross

61,744

Performance Shares [Member] | Vermilion Holdings Limited [Member] | Share-based Compensation Award, Tranche One [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage

40.00%

Performance Shares [Member] | Vermilion Holdings Limited [Member] | Share-based Compensation Award, Tranche Two [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage

20.00%

Performance Shares [Member] | Vermilion Holdings Limited [Member] | Share-based Compensation Award, Tranche Four [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage

20.00%

Performance Shares [Member] | Vermilion Holdings Limited [Member] | Share-based Compensation Award, Tranche Three [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage

20.00%

Restricted Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period

6,000

^[1]

95,000

^[2]

101,234

51,762

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period

8,000

5,000

12,927

93,375

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value

$ 161.31

$ 151.63

$ 157.50

$ 159.42

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Share Equivalent

2.5

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number

168,000

171,000

172,000

262,000

168,000

Restricted Stock [Member] | The 2004 Stock Option and Award Plan [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period

6,357

94,877

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period

5,150

73,522

12,927

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value

$ 157.50

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period

5 years

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage

40.00%

100.00%

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number

168,096

Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized

$ 17,500

Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition

2 years 328 days

Restricted Stock [Member] | The 2004 Stock Option and Award Plan [Member] | Share-based Compensation Award, Tranche One [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period

5 years

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage

40.00%

Restricted Stock [Member] | The 2004 Stock Option and Award Plan [Member] | Share-based Compensation Award, Tranche Two [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage

20.00%

[1]

[2]

Note 14 - Employee Stock Option and Retirement Plans - Summary of Stock Option Activity (Details) - $ / shares	1 Months Ended	3 Months Ended						9 Months Ended
	Jul. 31, 2012	May 31, 2017	Feb. 28, 2017	Nov. 30, 2016	May 31, 2016	Feb. 29, 2016	Nov. 30, 2015	May 31, 2017	May 31, 2016
Balance (in shares)		3,699,000	3,833,000	3,364,000				3,364,000
Balance (in dollars per share)		$ 139.27	$ 136.43	$ 129.54				$ 129.54
Granted (in dollars per share)		$ 163.05			$ 152.10			$ 154.01	$ 168.51
Exercised (in shares)		(62,000)	(170,000)	(199,000)
Exercised (in dollars per share)		$ 93.25	$ 89.62	$ 74.56
Forfeited (in shares)		(52,000)	(50,000)	(26,000)
Forfeited (in dollars per share)		$ 151.65	$ 141.50	$ 147.22
Balance (in shares)		3,597,000	3,699,000	3,833,000				3,597,000
Balance (in dollars per share)		$ 139.97	$ 139.27	$ 136.43				$ 139.97
Non Performance Based [Member]
Granted (in shares)		11,604		671,263	103,903	4,073	513,785
Granted (in dollars per share)		$ 163.05		$ 152.28
Performance Shares [Member]
Granted (in shares)	241,546		61,744	22,460			530,418
Granted (in dollars per share)			$ 169.16	$ 159.45
Non-Employee Director Grant [Member]
Granted (in shares)			24,000
Granted (in dollars per share)			$ 170.24

Note 14 - Employee Stock Option and Retirement Plans - Changes to the Current Estimate of the Vesting Percentage and Related Expense (Details) (Parentheticals)	1 Months Ended	3 Months Ended			9 Months Ended	59 Months Ended
	Jul. 31, 2012	Sep. 30, 2016	Nov. 30, 2015	Feb. 28, 2015	May 31, 2017	May 31, 2017
Performance-based Options, Four Year Measurement Period [Member] \| Code Red, Inc. [Member] \| Share-based Compensation Award, Tranche One [Member]
Vesting percentage					0.00%
Performance-based Options, Four Year Measurement Period [Member] \| Code Red, Inc. [Member] \| Share-based Compensation Award, Tranche Two [Member]
Vesting percentage					50.00%
Performance-based Options, Four Year Measurement Period [Member] \| Code Red, Inc. [Member] \| Share-based Compensation Award, Tranche Three [Member]
Vesting percentage					70.00%
Performance-based Options, Four Year Measurement Period [Member] \| Code Red, Inc. [Member] \| Share-based Compensation Award, Tranche Four [Member]
Vesting percentage					100.00%
Performance Shares [Member]
Vesting percentage	20.00%					80.00%
Performance Shares [Member] \| Code Red, Inc. [Member] \| Share-based Compensation Award, Tranche One [Member]
Vesting percentage				70.00%
Performance Shares [Member] \| Portware LLC [Member] \| Share-based Compensation Award, Tranche One [Member]
Vesting percentage		40.00%	40.00%		0.00%
Performance Shares [Member] \| Portware LLC [Member] \| Share-based Compensation Award, Tranche Two [Member]
Vesting percentage		20.00%	20.00%		50.00%
Performance Shares [Member] \| Portware LLC [Member] \| Share-based Compensation Award, Tranche Three [Member]
Vesting percentage					70.00%
Performance Shares [Member] \| Portware LLC [Member] \| Share-based Compensation Award, Tranche Four [Member]
Vesting percentage					100.00%
Performance Shares, Additional Granted [Member] \| Portware LLC [Member] \| Share-based Compensation Award, Tranche One [Member]
Vesting percentage					0.00%
Performance Shares, Additional Granted [Member] \| Portware LLC [Member] \| Share-based Compensation Award, Tranche Two [Member]
Vesting percentage					100.00%
Performance-based Options, Two Year Measurement Period [Member] \| Code Red, Inc. [Member] \| Share-based Compensation Award, Tranche One [Member]
Vesting percentage					0.00%
Performance-based Options, Two Year Measurement Period [Member] \| Code Red, Inc. [Member] \| Share-based Compensation Award, Tranche Two [Member]
Vesting percentage					10.00%
Performance-based Options, Two Year Measurement Period [Member] \| Code Red, Inc. [Member] \| Share-based Compensation Award, Tranche Three [Member]
Vesting percentage					40.00%
Performance-based Options, Two Year Measurement Period [Member] \| Code Red, Inc. [Member] \| Share-based Compensation Award, Tranche Four [Member]
Vesting percentage					70.00%
Performance-based Options, Two Year Measurement Period [Member] \| Code Red, Inc. [Member] \| Share-based Compensation Award, Tranche Five [Member]
Vesting percentage					100.00%

Note 14 - Employee Stock Option and Retirment Plans - Summary of Restricted Stock Award (Details) - Restricted Stock [Member] - $ / shares

3 Months Ended

9 Months Ended

May 31, 2017

Feb. 28, 2017

Nov. 30, 2016

May 31, 2017

May 31, 2016

Balance (in dollars per share)

171,000

172,000

262,000

$ 136.65

$ 134.02

$ 126.27

Granted (in dollars per share)

8,000

5,000

12,927

93,375

$ 161.31

$ 151.63

$ 157.50

$ 159.42

Forfeited (in shares)

(3,000)

Forfeited (in dollars per share)

$ 116.38

$ 114.42

Vested (in shares)

(6,000)

^[1]

(95,000)

^[2]

(101,234)

(51,762)

Vested (in dollars per share)

$ 105.91

^[1]

$ 112.70

^[2]

Balance (in dollars per share)

168,000

171,000

172,000

168,000

$ 136.95

$ 136.65

$ 134.02

$ 136.95

[1]

[2]

Note 14 - Employee Stock Option and Retirement Plans - Summary of Share-based Awards Available for Grant (Details) - shares

3 Months Ended

May 31, 2017

Feb. 28, 2017

Nov. 30, 2016

The 2004 Stock Option and Award Plan [Member]

Share-based awards canceled/forfeited (in shares)

788,000

814,000

1,491,000

58,000

56,000

^[1]

29,000

^[1]

The 2004 Stock Option and Award Plan [Member] | Non Performance Based [Member]

834,000

788,000

814,000

The 2004 Stock Option and Award Plan [Member] | Performance Shares [Member]

(12,000)

(671,000)

The 2004 Stock Option and Award Plan [Member] | Restricted Stock [Member]

(62,000)

(23,000)

Non Employee Directors Stock Option Plan [Member]

^[2]

(20,000)

(12,000)

Share-based awards canceled/forfeited (in shares)

42,000

66,000

^[1]

Non Employee Directors Stock Option Plan [Member] | Non Performance Based [Member]

42,185

42,000

66,000

Non Employee Directors Stock Option Plan [Member] | Performance Shares [Member]

(24,000)

Non Employee Directors Stock Option Plan [Member] | Restricted Stock [Member]