0001013237-23-000128 | 10-K | XBRL Viewer | Factset Research Systems INC

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STOCKHOLDERS’ EQUITY - Share Repurchases (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Equity [Abstract]
Repurchase of common stock under the share repurchase program (in shares)	430,350	46,200	797,385
Total cost of shares repurchased	$ 176,720	$ 18,639	$ 264,702
Equity, Class of Treasury Stock [Line Items]
Excise tax on share repurchases	$ 932
Restricted stock
Equity, Class of Treasury Stock [Line Items]
Shares repurchased from employees (in shares)	32,444	14,489	12,932
Value of shares repurchased in settlement of employee tax withholding obligations	$ 13,700	$ 6,200	$ 4,300

STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Aug. 31, 2023

Share-Based Payment Arrangement [Abstract]

Summary of Stock Option Activity

A summary of stock option activity is as follows:


	Number Outstanding (thousands)		Weighted Average Exercise Price Per Share		Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value (millions)(1)		Weighted Average Remaining Contractual Life (years)
Outstanding as of August 31, 2020	2,254		$	189.32
Granted – employees	418		$	317.17	$	78.31

Granted – non-employee directors	12		$	318.20	$	82.01
Exercised(2)	(322)		$	166.36
Forfeited	(85)		$	237.23
Outstanding as of August 31, 2021	2,277		$	214.89
Granted – employees	348		$	433.09	$	103.49

Granted – non-employee directors	6		$	428.71	$	109.11
Exercised(2)	(414)		$	178.57
Forfeited	(128)		$	301.05
Outstanding as of August 31, 2022	2,089		$	253.85
Granted – employees	268		$	426.22	$	125.57

Granted – non-employee directors	5		$	428.70	$	128.84
Exercised(2)	(318)		$	181.67
Forfeited	(56)		$	373.04
Outstanding as of August 31, 2023	1,988	(3)	$	285.95			$	268.8	6.0
Options vested and exercisable as of August 31, 2023	1,076		$	221.45			$	231.3	4.5
Options expected to vest as of August 31, 2023	839		$	358.37			$	65.5	7.6

(1)The aggregate intrinsic value represents the difference between our closing stock price as of August 31, 2023 of $436.41 and the exercise price, multiplied by the number of options exercisable as of that date.

(2)The total pre-tax intrinsic value of stock options exercised during fiscal 2023, 2022 and 2021 was $77.5 million, $104.1 million and $54.3 million, respectively.

(3)As of August 31, 2023, a total of 1,987,662 shares underlying the stock option awards were unvested and outstanding, which results in unamortized stock-based compensation of $59.1 million to be recognized as stock-based compensation expense over the remaining weighted average vesting period of 3.1 years.

Summary of Weighted Average Assumptions used for Options

The following table includes the weighted average inputs to the binomial model to estimate the grant-date fair value of the employee stock options granted:


	2023		2022		2021
Stock options granted(1)	268,185		348,458		417,546
Risk-free interest rate	3.37% - 5.05%		0.07% - 2.99%		0.04% - 1.67%

Expected life (years)	6.6		6.9		7.1

Expected volatility	24% - 25%		24% - 25%		26% - 27%

Dividend yield	0.83	%	0.86	%	0.12	%

Weighted average grant date fair value	$125.57		$103.49		$78.31
Weighted average exercise price	$426.22		$433.09		$317.17

(1) Includes the annual employee grant on November 1, 2022, November 1, 2021 and November 9, 2020 of 266,051, 292,377 and 408,093 stock options, respectively. The majority of the stock options granted, including the annual employee grants, vest 20% annually on the anniversary date of the grant and are fully vested after five years, expiring ten years from the date of grant.

Summary of Restricted Stock Awards Activity

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, 2020	146		$	231.55
Granted - employee Restricted Stock Awards(1)	99		$	312.86
Vested - employee RSUs	(35)		$	208.67
Forfeited	(13)		$	267.23
Balance at August 31, 2021	197		$	274.10
Granted - employee Restricted Stock Awards(1)	103		$	418.16
Granted - non-employee directors RSUs	2		$	425.29
Vested - employee Restricted Stock Awards	(40)		$	242.87
Forfeited	(29)		$	323.16
Balance at August 31, 2022	233		$	338.87
Granted - employee Restricted Stock Awards(1)	97		$	416.58
Performance adjustment - employee PSUs(2)	9		$	245.67
Granted - non-employee directors RSUs	2		$	425.06
Vested - Restricted Stock Awards	(83)		$	291.80
Forfeited	(14)		$	369.71
Balance at August 31, 2023	244	(3)	$	381.15

(1)During fiscal 2023, 2022 and 2021, we granted 63,009 RSUs and 34,482 PSUs; 71,978 RSUs and 30,704 PSUs; and 62,960 RSUs and 36,424 PSUs, respectively.

(2)During fiscal 2023, there were an additional 8,542 PSUs granted that related to the achievement of specified performance levels included in a 2019 grant.

(3)As of August 31, 2023, a total of 243,552 shares underlying the Restricted Stock Awards were unvested and outstanding, which resulted in unamortized stock-based compensation of $55.4 million to be recognized as stock-based compensation expense over the remaining weighted average vesting period of 2.7 years.

Summary of Share-based Awards Available for Grant

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


(in thousands)	Stock-based Awards Available for Grant under the LTIP	Stock-based Awards Available for Grant under the FactSet Research Systems Inc. Non-Employee Directors’ Stock Option and Award Plan as Amended and Restated (the “Director Plan”)
Balance at August 31, 2020	5,626	250

Granted - stock option awards	(418)	(12)

Granted - RSUs(1)	(157)	—
Granted - PSUs(1)	(91)	—
Forfeited - stock-based awards(1)	120	—
Balance at August 31, 2021	5,080	238
Granted - stock option awards	(348)	(6)
Granted - RSUs(1)	(180)	(4)
Granted - PSUs(1)	(77)	—
Forfeited - stock-based awards(1)	194	4
Balance at August 31, 2022	4,669	232
Granted - stock option awards	(268)	(5)
Granted - RSUs(1)	(158)	(4)
Granted - PSUs(1)	(86)	—
Performance adjustment - PSUs(2)	(21)	—
Forfeited - stock-based awards(1)	90	—
Balance at August 31, 2023	4,226	223

(1)Under the LTIP, for each Restricted Stock Award granted or canceled/forfeited, an equivalent of 2.5 shares is deducted from or added back to, respectively, the aggregate number of stock-based awards available for grant.

(2)During fiscal 2023, there were additional PSUs granted that related to the achievement of specified performance levels included in a 2019 grant.

FAIR VALUE MEASURES - Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments	$ 4,383	$ 12,412
Total assets measured at fair value	173,718	224,961
Derivative instruments	608	8,307
Contingent liability	8,008
Total liabilities measured at fair value	8,616	8,307
Series of Individually Immaterial Business Acquisitions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent liability	7,900
Mutual funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual funds	32,210	33,219
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	137,125	179,330
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments	0	0
Total assets measured at fair value	137,125	179,330
Derivative instruments	0	0
Contingent liability	0
Total liabilities measured at fair value	0	0
Level 1 \| Mutual funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual funds	0	0
Level 1 \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	137,125	179,330
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments	4,383	12,412
Total assets measured at fair value	36,593	45,631
Derivative instruments	608	8,307
Contingent liability	0
Total liabilities measured at fair value	608	8,307
Level 2 \| Mutual funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual funds	32,210	33,219
Level 2 \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments	0	0
Total assets measured at fair value	0	0
Derivative instruments	0	0
Contingent liability	8,008
Total liabilities measured at fair value	8,008	0
Level 3 \| Mutual funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual funds	0	0
Level 3 \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	$ 0	$ 0

PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Property, Plant and Equipment [Line Items]
Subtotal	$ 200,242	$ 347,082
Less accumulated depreciation and amortization	(114,135)	(266,239)
Property, equipment and leasehold improvements, net	86,107	80,843
Depreciation expense	18,100	24,300	$ 30,400
Impairment charge, Property, equipment and leasehold improvements	3,600	30,700
Leasehold improvements
Property, Plant and Equipment [Line Items]
Subtotal	97,000	184,425
Computers and related equipment
Property, Plant and Equipment [Line Items]
Subtotal	70,641	104,514
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Subtotal	$ 32,601	$ 58,143

EARNINGS PER SHARE

12 Months Ended

Aug. 31, 2023

Earnings Per Share [Abstract]

EARNINGS PER SHARE

EARNINGS PER SHAREBasic earnings per common share ("Basic EPS") is computed by dividing net income by the number of weighted average common shares outstanding during the year. Diluted earnings per common share ("Diluted EPS") is computed using the treasury stock method, by dividing net income by the cumulative weighted average common shares that are outstanding or are issuable upon the exercise of outstanding stock-based compensation awards during the year. Stock-based compensation awards that are out-of-the-money and PSUs in which the performance criteria have not been met as of the end of the respective fiscal year are omitted from the calculation of Diluted EPS.

A reconciliation of the weighted average shares outstanding used in the Basic EPS and Diluted EPS computation is as follows:


	Years Ended August 31,
(in thousands, except per share data)	2023		2022		2021
Numerator
Net income used for calculating Basic EPS and Diluted EPS	$	468,173	$	396,917	$	399,590
Denominator
Weighted average common shares used in the calculation of Basic EPS	38,194		37,864		37,856
Common stock equivalents associated with stock-based compensation plan(1)	704		872		714
Shares used in the calculation of Diluted EPS	38,898		38,736		38,570
Basic EPS	$	12.26	$	10.48	$	10.56
Diluted EPS	$	12.04	$	10.25	$	10.36

(1) Dilutive potential common shares consist of stock options and unvested PSUs. As of August 31, 2023, 2022 and 2021, we excluded a respective 566,173, 329,189 and 1,750 common stock equivalents related to stock options from our calculation of Diluted EPS. As of August 31, 2023, 2022 and 2021, we excluded a respective 59,478, 60,725 and 68,990 common stock equivalents related to PSUs from our calculation of Diluted EPS.

SEGMENT INFORMATION - Long-lived Assets by Geographic Areas (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	$ 227,944	$ 240,301
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	109,787	111,301
Philippines
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	55,934	63,879
India
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	25,223	29,440
United Kingdom
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	11,532	12,637
All Other Countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	$ 25,468	$ 23,044

INCOME TAXES - Significant Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022
Deferred tax assets:
Lease liabilities	$ 55,608	$ 45,842
Stock-based compensation	32,611	30,382
Unrealized tax loss on investment	0	4,216
Capitalization of R&D costs	58,709	0
Other	21,701	19,943
Total deferred tax assets	168,629	100,383
Deferred tax liabilities:
Depreciation on property, equipment and leasehold improvements	29,048	19,855
Purchased intangible assets, including acquired technology	84,102	57,098
Lease right-of-use assets	33,900	27,540
Other	1,087	1,537
Total deferred tax liabilities	148,137	106,030
Total deferred tax assets, net	$ 20,492
Total deferred tax liabilities, net		$ (5,647)

DERIVATIVE INSTRUMENTS - Derivative Recognition (Details) - Cash Flow Hedging - Designated as Hedging Instrument - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Derivative [Line Items]
Gain (Loss) Recognized in AOCL on Derivatives	$ 10,151	$ 889	$ 2,405
Gain (Loss) Reclassified from AOCL into Income	10,481	(6,013)	3,071
Foreign currency forward contracts
Derivative [Line Items]
Gain (Loss) Recognized in AOCL on Derivatives	5,783	(16,356)	1,660
Foreign currency forward contracts \| SG&A
Derivative [Line Items]
Gain (Loss) Reclassified from AOCL into Income	(3,176)	(7,867)	5,027
Interest rate swap agreement
Derivative [Line Items]
Gain (Loss) Recognized in AOCL on Derivatives	4,368	17,245	745
Interest rate swap agreement \| Interest expense
Derivative [Line Items]
Gain (Loss) Reclassified from AOCL into Income	$ 13,657	$ 1,854	$ (1,956)

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Statement of Comprehensive Income [Abstract]
Net unrealized gain (loss) on cash flow hedges, tax expense (benefit)	$ (61)	$ 1,657	$ (162)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Thousands	12 Months Ended
	Aug. 31, 2023 USD ($) reporting_unit	Aug. 31, 2022 USD ($)	Aug. 31, 2021 USD ($)
Property, Plant and Equipment [Line Items]
Research and product development costs	$ 267,400	$ 255,100	$ 250,100
Number of reporting units \| reporting_unit	3
Accounts receivable, reserves	$ 7,769	$ 2,776
Data costs \| Supplier Concentration Risk \| Supplier One
Property, Plant and Equipment [Line Items]
Concentration risk (as a percent)	10.00%
Data costs \| Supplier Concentration Risk \| Supplier Two
Property, Plant and Equipment [Line Items]
Concentration risk (as a percent)	10.00%
Minimum \| Developed technology
Property, Plant and Equipment [Line Items]
Amortization period of intangible assets	3 years
Maximum \| Developed technology
Property, Plant and Equipment [Line Items]
Amortization period of intangible assets	5 years
Computers and related equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Computers and related equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Estimated useful life	7 years

PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS (Tables)

12 Months Ended

Aug. 31, 2023

Property, Plant and Equipment [Abstract]

Property, Equipment and Leasehold Improvements

Property, equipment and leasehold improvements consist of the following:


(in thousands)	August 31,
	2023		2022
Leasehold improvements	$	97,000	$	184,425
Computers and related equipment	70,641		104,514
Furniture and fixtures	32,601		58,143
Subtotal	$	200,242	$	347,082
Less accumulated depreciation and amortization	(114,135)		(266,239)
Property, equipment and leasehold improvements, net	$	86,107	$	80,843

Consolidated Balance Sheets - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022
ASSETS
Cash and cash equivalents	$ 425,444	$ 503,273
Investments	32,210	33,219
Accounts receivable, net of reserves of $7,769 at August 31, 2023 and $2,776 at August 31, 2022	237,665	204,102
Prepaid taxes	24,206	38,539
Prepaid expenses and other current assets	50,610	91,214
Total current assets	770,135	870,347
Property, equipment and leasehold improvements, net	86,107	80,843
Goodwill	1,004,736	965,848
Intangible assets, net	1,859,202	1,895,909
Deferred taxes	27,229	3,153
Lease right-of-use assets, net	141,837	159,458
Other assets	73,676	38,747
TOTAL ASSETS	3,962,922	4,014,305
LIABILITIES
Accounts payable and accrued expenses	121,816	108,395
Current lease liabilities	28,839	29,185
Accrued compensation	112,892	114,808
Deferred revenues	152,430	152,039
Current taxes payable	31,009	0
Dividends payable	37,265	33,860
Total current liabilities	484,251	438,287
Long-term debt	1,612,700	1,982,424
Deferred taxes	6,737	8,800
Deferred revenues, non-current	3,734	7,212
Taxes payable	30,344	34,211
Long-term lease liabilities	198,382	208,622
Other liabilities	6,844	3,341
TOTAL LIABILITIES	2,342,992	2,682,897
Commitments and contingencies (see Note 13)
STOCKHOLDERS’ EQUITY
Preferred stock, $0.01 par value, 10,000,000 shares authorized, none issued	0	0
Common stock, $0.01 par value, 150,000,000 shares authorized, 42,096,628 and 41,653,218 shares issued, 38,025,372 and 38,044,756 shares outstanding at August 31, 2023 and 2022, respectively	421	417
Additional paid-in capital	1,323,631	1,190,350
Treasury stock, at cost: 4,071,256 and 3,608,462 shares at August 31, 2023 and 2022, respectively	(1,122,077)	(930,715)
Retained earnings	1,505,096	1,179,739
Accumulated other comprehensive loss	(87,141)	(108,383)
TOTAL STOCKHOLDERS’ EQUITY	1,619,930	1,331,408
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 3,962,922	$ 4,014,305

Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands

12 Months Ended

Aug. 31, 2023

Aug. 31, 2022

Aug. 31, 2021

Statement of Comprehensive Income [Abstract]

Net income

$ 468,173

$ 396,917

$ 399,590

Other comprehensive income (loss), net of tax

Net unrealized gain (loss) on cash flow hedges

^[1]

(269)

5,245

(504)

Foreign currency translation adjustment gains (losses)

21,511

(74,666)

835

Other comprehensive income (loss)

21,242

(69,421)

331

Comprehensive income

$ 489,415

$ 327,496

$ 399,921

[1]	Presented net of a tax benefit of $61 thousand, tax expense of $1,657 thousand, and a tax benefit of $162 thousand for the years ended August 31, 2023, 2022 and 2021, respectively.

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022
Statement of Financial Position [Abstract]
Accounts receivable, reserves	$ 7,769	$ 2,776
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	10,000,000	10,000,000
Preferred stock, issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	150,000,000	150,000,000
Common stock, issued (in shares)	42,096,628	41,653,218
Common stock, outstanding (in shares)	38,025,372	38,044,756
Treasury stock (in shares)	4,071,256	3,608,462

INCOME TAXES - Narrative (Details) - USD ($) $ in Millions	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Operating Loss Carryforwards [Line Items]
Unrecognized tax benefits that would affect the effective tax rate	$ 19.1	$ 16.5	$ 14.9
Unremitted foreign earnings	204.0
Federal
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	27.1
State
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 9.9

DEBT - Narrative (Details)			12 Months Ended			18 Months Ended
DEBT - Narrative (Details)	Aug. 31, 2023	Mar. 01, 2022 USD ($)	Aug. 31, 2023 USD ($)	Aug. 31, 2022 USD ($)	Aug. 31, 2021 USD ($)	Aug. 31, 2023 USD ($)	Mar. 05, 2020	Mar. 29, 2019 USD ($)
Debt Instrument [Line Items]
Repayments of debt			$ 375,000,000	$ 825,000,000	$ 0
Weighted average interest rate	3.44%		3.44%	2.02%		3.44%
Interest rate swap agreement \| Cash Flow Hedging \| Designated as Hedging Instrument
Debt Instrument [Line Items]
Fixed interest rate		1.162%					0.7995%
Line of Credit \| 2022 Credit Agreement
Debt Instrument [Line Items]
Debt issuance costs				$ (9,500,000)
Covenants, required maximum leverage ratio	3.75		3.75			3.75
Line of Credit \| 2022 Credit Agreement \| Term SOFR
Debt Instrument [Line Items]
Basis spread on variable rate	1.10%
Line of Credit \| 2022 Credit Agreement \| Term SOFR \| Credit Spread Adjustment
Debt Instrument [Line Items]
Basis spread on variable rate	0.10%
Line of Credit \| 2022 Credit Agreement \| Term SOFR \| Interest Rate Margin
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
Line of Credit \| 2019 Credit Agreement
Debt Instrument [Line Items]
Debt issuance costs								$ (900,000)
Amortization of remaining debt issuance costs		$ 400,000
Senior Notes
Debt Instrument [Line Items]
Debt issuance costs		(9,100,000)
Discount		$ 2,800,000
Redemption price, percentage		101.00%
Senior Notes \| 2027 Notes
Debt Instrument [Line Items]
Aggregate principal amount		$ 500,000,000.0
Stated interest rate		2.90%
Senior Notes \| 2032 Notes
Debt Instrument [Line Items]
Aggregate principal amount		$ 500,000,000.0
Stated interest rate		3.45%
Revolving Credit Facility \| Line of Credit \| 2022 Credit Agreement
Debt Instrument [Line Items]
Lines of credit		$ 250,000,000.0
Maximum borrowing capacity		500,000,000.0
Maximum additional borrowings		750,000,000.0
Commitment fee percentage	0.125%
Revolving Credit Facility \| Line of Credit \| 2019 Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity								750,000,000.0
Borrowed								$ 575,000,000.0
Letter of Credit \| Line of Credit \| 2022 Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity		100,000,000.0
Swingline Loan \| Line of Credit \| 2022 Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity		50,000,000.0
Term Loan \| Line of Credit \| 2022 Credit Agreement
Debt Instrument [Line Items]
Aggregate principal amount		$ 1,000,000,000.0
Repayments of debt			$ 375,000,000.0			$ 625,000,000.0
Voluntary prepayments of debt			$ 325,000,000.0			$ 562,500,000

GOODWILL - Changes in the Carrying Amount of Goodwill by Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Goodwill [Roll Forward]
Balance	$ 965,848	$ 754,205
Acquisitions	18,347	256,752
Foreign currency translations	20,541	(45,109)
Ending Balance	1,004,736	965,848
Americas
Goodwill [Roll Forward]
Balance	686,412	430,088
Acquisitions	18,347	256,324
Foreign currency translations	0	0
Ending Balance	704,759	686,412
EMEA
Goodwill [Roll Forward]
Balance	277,087	321,150
Acquisitions	0	428
Foreign currency translations	20,647	(44,491)
Ending Balance	297,734	277,087
Asia Pacific
Goodwill [Roll Forward]
Balance	2,349	2,967
Acquisitions	0	0
Foreign currency translations	(106)	(618)
Ending Balance	$ 2,243	$ 2,349

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS

12 Months Ended

Aug. 31, 2023

Property, Plant and Equipment [Abstract]

PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS

Property, equipment and leasehold improvements consist of the following:


(in thousands)	August 31,
	2023		2022
Leasehold improvements	$	97,000	$	184,425
Computers and related equipment	70,641		104,514
Furniture and fixtures	32,601		58,143
Subtotal	$	200,242	$	347,082
Less accumulated depreciation and amortization	(114,135)		(266,239)
Property, equipment and leasehold improvements, net	$	86,107	$	80,843

Depreciation expense was $18.1 million, $24.3 million and $30.4 million for fiscal 2023, 2022 and 2021, respectively.

During fiscal 2023 and 2022, we incurred impairment charges of $3.6 million and $30.7 million, respectively, for PPE related to vacating certain leased office space. The impairment charges are included within Asset impairments in the Consolidated Statements of Income. Refer to Note 4, Fair Value Measures, for more information on the PPE impairment methodology.

During fiscal 2023, we disposed of fully depreciated assets that were no longer in use and derecognized these assets and related accumulated depreciation from the Consolidated Balance Sheets.

SEGMENT INFORMATION - Narrative (Details)	12 Months Ended
SEGMENT INFORMATION - Narrative (Details)	Aug. 31, 2023 segment
Segment Reporting [Abstract]
Number of reportable segments	3
Number of operating segments	3

DESCRIPTION OF BUSINESS (Details)	12 Months Ended
DESCRIPTION OF BUSINESS (Details)	Aug. 31, 2023 segment workflow
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments \| segment	3
Number of workflows \| workflow	3

REVENUE RECOGNITION

12 Months Ended

Aug. 31, 2023

Revenue from Contract with Customer [Abstract]

REVENUE RECOGNITION

We derive most of our revenues by providing client access to our multi-asset class solutions powered by our content refinery, over the associated contractual term (referred to as the "Hosted Platform"). The Hosted Platform is a subscription-based service that provides client access to various combinations of products and services including workstations, portfolio analytics, and enterprise solutions. In addition, through our CGS platform, we provide subscription access to a database of universally recognized identifiers enabling differentiating characteristics for issuers and their financial instruments (referred to as the "Identifier Platform").

We determined that the majority of our contracts with clients, whether for our Hosted Platform or Identifier Platform services, each represent a single performance obligation covering a series of distinct products and services that are substantially the same and that have the same pattern of transfer to the client. We also determined the primary nature of the promise to the client is to provide daily access to each of these data and analytics platforms. These platforms provide integrated financial information, analytical applications and industry-leading service for the investment community. Based on the nature of the services and products offered by these platforms, we apply an output time-based measure of progress as the client is simultaneously receiving and consuming the benefits of the platform. We recognize revenue for the majority of these platforms in accordance with the 'as invoiced' practical expedient as the amount of consideration that we have the right to invoice corresponds directly with the value of our performance to date.

Due to our election of the practical expedient, we do not consider payment terms as a financing component within a client contract when, at contract inception, the period between the transfer of the promised services to the client and the payment timing for those services will be one year or less.

The majority of client contracts have a duration of one year or the amount we are entitled to receive corresponds directly with the value of performance obligations completed to date, and therefore, we do not disclose the value of the remaining unsatisfied performance obligations. There are no significant judgments that would impact the timing of revenue recognition.

Disaggregated Revenues

We disaggregate revenues from contracts with clients by our segments which consist of the Americas, EMEA and Asia Pacific. We believe these segments are reflective of how we manage our business and the markets in which we serve and best depict the nature, amount, timing and uncertainty of revenues and cash flows related to contracts with clients. Segment revenues reflect sales to our clients based on their respective geographic locations. Refer to Note 18, Segment Information, for further information.

The following table presents revenues disaggregated by segment:


	Years ended August 31,
(in thousands)	2023		2022		2021
Americas	$	1,335,484	$	1,173,946	$	1,008,046
EMEA	539,843		484,279		427,700
Asia Pacific	210,181		185,667		155,699
Total Revenues	$	2,085,508	$	1,843,892	$	1,591,445

We have not disclosed revenues from external clients by product and service, as it is impracticable for us to do so.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Aug. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

LEASES - Schedule of Lease Cost and Other Information Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Leases [Abstract]
Operating lease cost	$ 32,330	$ 38,830	$ 42,846
Variable lease cost	$ 17,940	$ 11,542	14,585
Weighted average remaining lease term (in years)	7 years 9 months 18 days	8 years 7 months 6 days
Weighted average discount rate (incremental borrowing rate)	4.50%	4.40%
Cash paid for amounts included in the measurement of lease liabilities	$ 39,392	$ 43,032	42,076
Lease ROU assets obtained in exchange for lease liabilities	16,934	9,348	6,355
Reductions to ROU assets resulting from reductions to lease liabilities	$ (1,376)	$ (17,597)	$ (700)

STOCK-BASED COMPENSATION - Summary of Restricted Stock Award Activity (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Aug. 31, 2023 USD ($) $ / shares shares	Aug. 31, 2022 $ / shares shares	Aug. 31, 2021 $ / shares shares
Weighted Average Grant Date Fair Value Per Award
Number of share equivalents (in shares)	2.5
Unamortized stock-based compensation \| $	$ 114.5
Remaining vesting period	2 years 10 months 24 days
Restricted stock, RSUs and PSUs
Number Outstanding
Beginning balance (in shares)	233,000	197,000	146,000
Vested (in shares)	(83,000)
Forfeited (in shares)	(14,000)	(29,000)	(13,000)
Ending balance (in shares)	243,552	233,000	197,000
Weighted Average Grant Date Fair Value Per Award
Beginning balance (in dollars per share) \| $ / shares	$ 338.87	$ 274.10	$ 231.55
Vested (in dollars per share) \| $ / shares	291.80
Forfeited (in dollars per share) \| $ / shares	369.71	323.16	267.23
Ending balance (in dollars per share) \| $ / shares	$ 381.15	$ 338.87	$ 274.10
Unamortized stock-based compensation \| $	$ 55.4
Remaining vesting period	2 years 8 months 12 days
Employee \| Restricted stock, RSUs and PSUs
Number Outstanding
Granted (in shares)	97,000	103,000	99,000
Vested (in shares)		(40,000)	(35,000)
Weighted Average Grant Date Fair Value Per Award
Granted (in dollars per share) \| $ / shares	$ 416.58	$ 418.16	$ 312.86
Vested (in dollars per share) \| $ / shares		$ 242.87	$ 208.67
Employee \| PSUs
Number Outstanding
Granted (in shares)	34,482	30,704	36,424
Performance adjustment (in shares)	8,542
Weighted Average Grant Date Fair Value Per Award
Granted (in dollars per share) \| $ / shares	$ 245.67
Employee \| RSUs
Number Outstanding
Granted (in shares)	63,009	71,978	62,960
Non-employee directors \| Restricted stock, RSUs and PSUs
Number Outstanding
Granted (in shares)		2,000
Weighted Average Grant Date Fair Value Per Award
Granted (in dollars per share) \| $ / shares		$ 425.29
Non-employee directors \| RSUs
Number Outstanding
Granted (in shares)	2,000
Weighted Average Grant Date Fair Value Per Award
Granted (in dollars per share) \| $ / shares	$ 425.06

SEGMENT INFORMATION - Geographic Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 2,085,508	$ 1,843,892	$ 1,591,445
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	1,265,002	1,106,602	952,423
United Kingdom
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	223,809	215,369	190,044
Other European Countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	316,034	268,910	237,656
All Other Countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 280,663	$ 253,011	$ 211,322

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

INCOME TAXES - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance	$ 20,171	$ 14,870	$ 12,331
Additions based on tax positions related to the current year	4,372	7,959	4,259
Release for tax positions of prior years	(3,490)	(2,658)	(1,720)
Balance	21,053	20,171	14,870
Accrued interest	$ 1,600	$ 1,400	$ 1,300

EARNINGS PER SHARE (Tables)

12 Months Ended

Aug. 31, 2023

Earnings Per Share [Abstract]

Schedule of Earnings Per Share

A reconciliation of the weighted average shares outstanding used in the Basic EPS and Diluted EPS computation is as follows:


	Years Ended August 31,
(in thousands, except per share data)	2023		2022		2021
Numerator
Net income used for calculating Basic EPS and Diluted EPS	$	468,173	$	396,917	$	399,590
Denominator
Weighted average common shares used in the calculation of Basic EPS	38,194		37,864		37,856
Common stock equivalents associated with stock-based compensation plan(1)	704		872		714
Shares used in the calculation of Diluted EPS	38,898		38,736		38,570
Basic EPS	$	12.26	$	10.48	$	10.56
Diluted EPS	$	12.04	$	10.25	$	10.36

Cover - USD ($)	12 Months Ended
Cover - USD ($)	Aug. 31, 2023	Oct. 20, 2023	Feb. 28, 2023
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Aug. 31, 2023
Current Fiscal Year End Date	--08-31
Document Transition Report	false
Entity File Number	1-11869
Entity Registrant Name	FACTSET RESEARCH SYSTEMS INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-3362547
Entity Address, Address Line One	45 Glover Avenue
Entity Address, City or Town	Norwalk
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06850
City Area Code	203
Local Phone Number	810-1000
Title of 12(b) Security	Common Stock, $0.01 Par Value
Trading Symbol	FDS
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 15,868,442,481
Entity Common Stock, Shares Outstanding		37,988,456
Documents Incorporated by Reference	Certain information required by Part III of this Annual Report on Form 10-K is incorporated by reference to our definitive Proxy Statement for our 2023 Annual Meeting of Stockholders, which will be filed with the Securities and Exchange Commission not later than 120 days after August 31, 2023.
Entity Central Index Key	0001013237
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false
New York Stock Exchange LLC
Entity Information [Line Items]
Security Exchange Name	NYSE
The Nasdaq Stock Market
Entity Information [Line Items]
Security Exchange Name	NASDAQ

INCOME TAXES - Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Income before income taxes
U.S. operations	$ 382,702	$ 281,971	$ 311,767
Non-U.S. operations	201,252	161,623	155,850
Income before income taxes	583,954	443,594	467,617
Total provision for income taxes
U.S. operations	54,337	18,107	40,595
Non-U.S. operations	61,444	28,570	27,432
Total provision for income taxes	$ 115,781	$ 46,677	$ 68,027
Effective tax rate	19.80%	10.50%	14.50%

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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+ Details

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

LEASES - Schedule of Future Minimum Commitments (Details) $ in Thousands	Aug. 31, 2023 USD ($)
Leases [Abstract]
2024	$ 38,292
2025	37,423
2026	37,036
2027	35,825
2028	31,465
Thereafter	88,629
Total	268,670
Less: Imputed interest	41,449
Present value	$ 227,221

FAIR VALUE MEASURES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Fair Value Disclosures [Abstract]
Asset impairments	$ 25,946	$ 64,272	$ 0
Lease ROU assets and PPE	18,026	62,205
Impairment charges, intangible assets	$ 7,920	$ 2,067

REVENUE RECOGNITION (Details) - USD ($) $ in Thousands	12 Months Ended
REVENUE RECOGNITION (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Disaggregation of Revenue [Line Items]
Revenues	$ 2,085,508	$ 1,843,892	$ 1,591,445
Americas
Disaggregation of Revenue [Line Items]
Revenues	1,335,484	1,173,946	1,008,046
EMEA
Disaggregation of Revenue [Line Items]
Revenues	539,843	484,279	427,700
Asia Pacific
Disaggregation of Revenue [Line Items]
Revenues	$ 210,181	$ 185,667	$ 155,699

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

+ References

+ Details

REVENUE RECOGNITION (Tables)

12 Months Ended

Aug. 31, 2023

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following table presents revenues disaggregated by segment:


	Years ended August 31,
(in thousands)	2023		2022		2021
Americas	$	1,335,484	$	1,173,946	$	1,008,046
EMEA	539,843		484,279		427,700
Asia Pacific	210,181		185,667		155,699
Total Revenues	$	2,085,508	$	1,843,892	$	1,591,445

LEASES (Tables)

12 Months Ended

Aug. 31, 2023

Leases [Abstract]

Schedule of Future Minimum Lease Commitments

The following table reconciles our future undiscounted cash flows related to our operating leases and the reconciliation to the combined Current lease liabilities and Long-term lease liabilities in the Consolidated Balance Sheets as of August 31, 2023:


(in thousands)	Minimum Lease Payments
Years Ended August 31,
2024	$	38,292
2025	37,423
2026	37,036
2027	35,825
2028	31,465
Thereafter	88,629
Total	$	268,670
Less: Imputed interest	41,449
Present value	$	227,221

Schedule of Lease Cost and Other Information Related to Leases

The following table includes the components of our occupancy costs in our Consolidated Statements of Income:


	Years ended August 31,
(in thousands)	2023		2022		2021
Operating lease cost(1)	$	32,330	$	38,830	$	42,846
Variable lease cost(2)	$	17,940	$	11,542	$	14,585

(1) Operating lease costs include costs associated with fixed lease payments and index-based variable payments that qualified for lease accounting under ASC 842, Leases and complied with the practical expedients and exceptions we elected.

(2) Variable lease costs include costs that were not fixed at the lease commencement date and are not dependent on an index or rate. These costs were not included in the measurement of lease liabilities and primarily include variable non-lease costs, such as utilities, real estate taxes, insurance and maintenance, as well as lease costs for those leases that qualified for the short-term lease exception.

The following table summarizes our lease term and discount rate assumptions related to the operating leases recorded on the Consolidated Balance Sheets:


	August 31,
	2023		2022
Weighted average remaining lease term (in years)	7.8		8.6
Weighted average discount rate (IBR)	4.5	%	4.4	%

The following table summarizes supplemental cash flow information related to our operating leases:


	Years ended August 31,
(in thousands)	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities	$	39,392	$	43,032	$	42,076
Lease ROU assets obtained in exchange for lease liabilities(1)	$	16,934	$	9,348	$	6,355
Reductions to ROU assets resulting from reductions to lease liabilities(2)	$	(1,376)	$	(17,597)	$	(700)

(1) Primarily includes new lease arrangements entered into during the respective year and contract modifications that extend our lease terms and/or provide additional rights.

(2) Primarily relates to lease term reassessments based on contractual options to early terminate, resulting in a reduction to the lease liability and the corresponding lease ROU asset.

INTANGIBLE ASSETS (Tables)

12 Months Ended

Aug. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Identifiable Intangible Assets

The estimated useful life, gross carrying amounts and accumulated amortization totals related to our identifiable intangible assets are as follows:


		August 31, 2023						August 31, 2022
(in thousands, except useful lives)	Estimated Useful Life (years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
ABA business process	36	$	1,583,000	$	65,958	$	1,517,042	$	1,583,000	$	21,986	$	1,561,014
Client relationships	11 to 26	265,315		68,701		196,614		263,163		55,405		207,758
Developed technology	3 to 5	109,222		45,560		63,662		80,956		33,676		47,280
Acquired databases	15	46,000		4,600		41,400		46,000		1,533		44,467
Software technology	2 to 10	142,395		108,702		33,693		122,363		96,567		25,796
Data content	7 to 20	35,021		28,508		6,513		32,305		24,973		7,332
Non-compete agreements	4	290		12		278		—		—		—
Trade names	15	—		—		—		6,693		4,431		2,262
Total		$	2,181,243	$	322,041	$	1,859,202	$	2,134,480	$	238,571	$	1,895,909

Schedule of Estimated Intangible Asset Amortization Expense

As of August 31, 2023, estimated intangible asset amortization expense for each of the next five years and thereafter are as follows:


(in thousands)	Estimated Amortization Expense
Fiscal Years Ended August 31,
2024	$	91,788
2025	85,673
2026	79,453
2027	66,007
2028	63,462
Thereafter	1,472,819
Total	$	1,859,202

DEBT - Debt Obligations (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,625,000
Total unamortized discounts and debt issuance costs	(12,300)	$ (17,576)
Total net carrying value of debt	1,612,700	1,982,424
Senior Notes \| 2027 Notes
Debt Instrument [Line Items]
Long-term debt, gross	500,000	500,000
Senior Notes \| 2032 Notes
Debt Instrument [Line Items]
Long-term debt, gross	500,000	500,000
Term Loan \| Line of Credit \| 2022 Credit Agreement
Debt Instrument [Line Items]
Long-term debt, gross	375,000	750,000
Revolving Credit Facility \| Line of Credit \| 2022 Credit Agreement
Debt Instrument [Line Items]
Long-term debt, gross	$ 250,000	$ 250,000

DEBT - Annual Maturities of Debt Obligations (Details) $ in Thousands	Aug. 31, 2023 USD ($)
Debt Disclosure [Abstract]
Long-Term Debt, Maturity, Year One	$ 0
2025	375,000
2026	0
2027	750,000
2028	0
Thereafter	500,000
Total	$ 1,625,000

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Aug. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	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. We record liabilities for commitments when incurred (i.e., when the goods or services are received). We accrue non-income-tax liabilities for contingencies when we believe that a loss is probable and the amount can be reasonably estimated. Judgment is required to determine both the probability and the estimated amount of loss. If the reasonable estimate of a probable loss is a range, we record the most probable estimate of the loss or the minimum amount when no amount within the range is a better estimate than any other amount. We review accruals on a quarterly basis and adjust, as necessary, to reflect the impact of negotiations, settlements, rulings, advice of legal counsel and other current information. Contingent gains are recognized only when realized. Uncertain income tax positions are accounted for in accordance with applicable accounting guidance, refer to Note 10, Income Taxes for further details. Purchase Commitments with Suppliers and Vendors Purchase obligations represent our legally-binding agreements to purchase fixed or minimum quantities at determinable prices. As of August 31, 2023 and 2022, we had total purchase obligations with suppliers of $362.2 million and $373.9 million, respectively. Our total purchase obligations as of August 31, 2023 and 2022 primarily related to hosting services, acquisition of data and, to a lesser extent, third-party software providers. Hosting services support our hybrid cloud strategy, the majority of which rely on third-party hosting providers. Data is an integral component of the value we provide to our clients, and our commitments to third-party software providers mainly include internal-use software licenses. We also have contractual obligations related to our lease liabilities and outstanding debt. Refer to Note 11, Leases and Note 12, Debt, for information regarding lease commitments and outstanding debt obligations, respectively. Capital Commitments As of August 31, 2023 and 2022, we had outstanding capital commitments related to an investment of $0.7 million and $1.1 million, respectively. Letters of Credit From time to time, we are required to obtain letters of credit in the ordinary course of business. As of August 31, 2023 and 2022, we had approximately $0.6 million and $0.5 million of standby letters of credit outstanding, respectively. No liabilities related to these arrangements are reflected in the Consolidated Balance Sheets. Our 2022 Revolving Facility allows for the availability of up to $100.0 million in the form of letters of credit, which were unused as of both August 31, 2023 and August 31, 2022. Refer to Note 12, Debt, for information regarding the 2022 Revolving Facility. Contingencies Legal Matters We are engaged in various legal proceedings, claims and litigation that have arisen in the ordinary course of business. The outcome of all the matters against us are subject to future resolution, including the uncertainties of litigation. Based on information available at August 31, 2023, our management believes that the ultimate outcome of these unresolved matters against us, individually or in the aggregate, will not have a material adverse effect on our consolidated financial position, our results of operations or our cash flows. Income Taxes As a multinational company operating in many states and countries, we are routinely audited by various taxing authorities and have reserved for potential adjustments to our provision for income taxes that may result from examinations by, or any negotiated settlements with, these tax authorities. We believe that the final outcome of these examinations or settlements will not have a material effect on our consolidated financial position, results of operations or our cash flows. 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 we determine the liabilities are no longer necessary. If our estimates of the federal, state and foreign income tax liabilities are less than the ultimate assessment, additional expense would result. Sales Tax Matters On August 8, 2019, we received a Notice of Intent to Assess (the "First Notice") additional sales taxes, interest and underpayment penalties (the “Sales Taxes”) from the Commonwealth of Massachusetts Department of Revenue (the "Commonwealth") relating to the tax periods from January 1, 2006 through December 31, 2013. On July 20, 2021, we received a Notice of Intent to Assess (the "Second Notice") additional Sales Taxes from the Commonwealth relating to the tax periods from January 1, 2014 through December 31, 2018. On December 29, 2022, we received a Notice of Intent to Assess (the “Third Notice"; cumulatively with the First and Second Notices, the “Notices”) additional Sales Taxes from the Commonwealth relating to the tax periods from January 1, 2019 through June 30, 2021. We requested pre-assessment conferences with the Department of Revenue's Office of Appeals to appeal the Notices and on May 24, 2023, we received a Letter of Determination from the Commonwealth upholding the Notices, along with a Notice of Assessment for all the periods covered by the Notices. On June 22, 2023, we filed an Application for Abatement with the Commonwealth disputing all amounts assessed, which was subsequently denied. We are filing petitions with the Appellate Tax Board to appeal all amounts assessed by the Commonwealth and believe that we will ultimately prevail; however, if we do not prevail, the amount of these assessments could have a material impact on our consolidated financial position, results of operations and cash flows. We have concluded that some payment to the Commonwealth is probable. We have recorded an accrual which is not material to our consolidated financial statements. While we believe that the assumptions and estimates used to determine the accrual are reasonable, future developments could result in adjustments being made to this accrual. Indemnifications As permitted or required under Delaware law and to the maximum extent allowable under that law, we have certain obligations to indemnify each of our current and former officers and directors for certain events or occurrences while the officer or director is, or was, serving at our 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 FactSet, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his or her conduct was unlawful. It is not possible to determine the maximum potential amount for claims made under the indemnification obligations due to the unique set of facts and circumstances likely to be involved in each particular claim and indemnification provision; however, we have purchased a director and officer insurance policy that mitigates our exposure and may enable us to recover a portion of any future amounts paid. We do not believe, based on historical experience and information currently available, that it is probable that any material amounts will be required to be paid under such indemnification obligations.

STOCK-BASED COMPENSATION

12 Months Ended

Aug. 31, 2023

Share-Based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATIONWe measure and recognize stock-based compensation for all stock-based awards granted to our employees and non-employee directors based on their estimated grant date fair value. We recognized total stock-based compensation expense of $62.0 million, $56.0 million and $45.1 million in fiscal 2023, 2022 and 2021, respectively. There was no stock-based compensation capitalized as of August 31, 2023 and 2022. As of August 31, 2023, $114.5 million of total unrecognized compensation expense related to non-vested stock-based awards is expected to be recognized over a weighted average vesting period of 2.9 years.

Stock Option Awards

A summary of stock option activity is as follows:


	Number Outstanding (thousands)		Weighted Average Exercise Price Per Share		Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value (millions)(1)		Weighted Average Remaining Contractual Life (years)
Outstanding as of August 31, 2020	2,254		$	189.32
Granted – employees	418		$	317.17	$	78.31

Granted – non-employee directors	12		$	318.20	$	82.01
Exercised(2)	(322)		$	166.36
Forfeited	(85)		$	237.23
Outstanding as of August 31, 2021	2,277		$	214.89
Granted – employees	348		$	433.09	$	103.49

Granted – non-employee directors	6		$	428.71	$	109.11
Exercised(2)	(414)		$	178.57
Forfeited	(128)		$	301.05
Outstanding as of August 31, 2022	2,089		$	253.85
Granted – employees	268		$	426.22	$	125.57

Granted – non-employee directors	5		$	428.70	$	128.84
Exercised(2)	(318)		$	181.67
Forfeited	(56)		$	373.04
Outstanding as of August 31, 2023	1,988	(3)	$	285.95			$	268.8	6.0
Options vested and exercisable as of August 31, 2023	1,076		$	221.45			$	231.3	4.5
Options expected to vest as of August 31, 2023	839		$	358.37			$	65.5	7.6

(2)The total pre-tax intrinsic value of stock options exercised during fiscal 2023, 2022 and 2021 was $77.5 million, $104.1 million and $54.3 million, respectively.

Employee Stock Option Awards

Stock options are granted to our employees under the FactSet Research Systems Inc. Stock Option and Award Plan as Amended and Restated (the "LTIP"). The majority of our employee stock options granted under the LTIP for fiscal 2021 through fiscal 2023 relate to our annual grants on November 1, 2022, November 1, 2021 and November 9, 2020.

The following table includes the weighted average inputs to the binomial model to estimate the grant-date fair value of the employee stock options granted:


	2023		2022		2021
Stock options granted(1)	268,185		348,458		417,546
Risk-free interest rate	3.37% - 5.05%		0.07% - 2.99%		0.04% - 1.67%

Expected life (years)	6.6		6.9		7.1

Expected volatility	24% - 25%		24% - 25%		26% - 27%

Dividend yield	0.83	%	0.86	%	0.12	%

Weighted average grant date fair value	$125.57		$103.49		$78.31
Weighted average exercise price	$426.22		$433.09		$317.17

Restricted Stock Awards

We refer to RSUs and PSUs, collectively, as "Restricted Stock Awards". 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, 2020	146		$	231.55
Granted - employee Restricted Stock Awards(1)	99		$	312.86
Vested - employee RSUs	(35)		$	208.67
Forfeited	(13)		$	267.23
Balance at August 31, 2021	197		$	274.10
Granted - employee Restricted Stock Awards(1)	103		$	418.16
Granted - non-employee directors RSUs	2		$	425.29
Vested - employee Restricted Stock Awards	(40)		$	242.87
Forfeited	(29)		$	323.16
Balance at August 31, 2022	233		$	338.87
Granted - employee Restricted Stock Awards(1)	97		$	416.58
Performance adjustment - employee PSUs(2)	9		$	245.67
Granted - non-employee directors RSUs	2		$	425.06
Vested - Restricted Stock Awards	(83)		$	291.80
Forfeited	(14)		$	369.71
Balance at August 31, 2023	244	(3)	$	381.15

(1)During fiscal 2023, 2022 and 2021, we granted 63,009 RSUs and 34,482 PSUs; 71,978 RSUs and 30,704 PSUs; and 62,960 RSUs and 36,424 PSUs, respectively.

(2)During fiscal 2023, there were an additional 8,542 PSUs granted that related to the achievement of specified performance levels included in a 2019 grant.

Employee Restricted Stock Awards

Restricted Stock Awards are granted to our employees under the LTIP. These awards entitle the holders to shares of common stock as the Restricted Stock Awards vests, but not to dividends declared on the underlying shares while the stock subject to the Restricted Stock Awards is unvested.

Our Restricted Stock Awards granted during fiscal 2021 through fiscal 2023 primarily relate to our annual grants on November 1, 2022, November 1, 2021 and November 9, 2020. The majority of the RSUs included in each these grants vest 20% annually on the anniversary date of the grant and are fully vested after five years. The PSUs included in each of these grants cliff vest on the third anniversary of the grant date, subject to the achievement of certain performance metrics. The ultimate number of common shares that may be earned pursuant to these PSU awards in each year range from 0% to 150% of the number of target shares, depending on the level of achievement of the stated financial performance objectives.

Employee Stock Purchase Plan

Shares of FactSet common stock may be purchased by eligible employees under our ESPP in three-month intervals. The purchase price is equal to 85% of the lesser of the fair market value of our common stock on the first day or the last day of each three-month offering period. Employee purchases may not exceed 10% of their gross compensation and there is a $25,000 contribution limit per employee for each calendar year. Shares purchased through our ESPP cannot be sold or otherwise transferred for 18 months after purchase. Dividends paid on shares held in our ESPP are used to purchase additional ESPP shares at the market price on the dividend payment date.

During fiscal 2023, employees purchased 39,873 shares at a weighted average price of $348.55, compared with 36,244 shares at a weighted average price of $332.30 in fiscal 2022, and 38,848 shares at a weighted average price of $273.59 in fiscal 2021.

Stock-based compensation expense related to our ESPP was $2.7 million, $2.3 million and $2.0 million for fiscal 2023, 2022 and 2021, respectively. At August 31, 2023, our ESPP had 62,839 shares reserved for future issuance. The weighted average estimated fair value of our ESPP shares during fiscal 2023, 2022 and 2021 was $71.74, $66.35 and $54.00 per share, respectively.

Stock-based Awards Available for Grant

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


(in thousands)	Stock-based Awards Available for Grant under the LTIP	Stock-based Awards Available for Grant under the FactSet Research Systems Inc. Non-Employee Directors’ Stock Option and Award Plan as Amended and Restated (the “Director Plan”)
Balance at August 31, 2020	5,626	250

Granted - stock option awards	(418)	(12)

Granted - RSUs(1)	(157)	—
Granted - PSUs(1)	(91)	—
Forfeited - stock-based awards(1)	120	—
Balance at August 31, 2021	5,080	238
Granted - stock option awards	(348)	(6)
Granted - RSUs(1)	(180)	(4)
Granted - PSUs(1)	(77)	—
Forfeited - stock-based awards(1)	194	4
Balance at August 31, 2022	4,669	232
Granted - stock option awards	(268)	(5)
Granted - RSUs(1)	(158)	(4)
Granted - PSUs(1)	(86)	—
Performance adjustment - PSUs(2)	(21)	—
Forfeited - stock-based awards(1)	90	—
Balance at August 31, 2023	4,226	223

(2)During fiscal 2023, there were additional PSUs granted that related to the achievement of specified performance levels included in a 2019 grant.

INTANGIBLE ASSETS - Identifiable Intangible Assets (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 2,181,243	$ 2,134,480
Accumulated Amortization	322,041	238,571
Total	$ 1,859,202	1,895,909
ABA business process
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (years)	36 years
Gross Carrying Amount	$ 1,583,000	1,583,000
Accumulated Amortization	65,958	21,986
Total	1,517,042	1,561,014
Client relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	265,315	263,163
Accumulated Amortization	68,701	55,405
Total	$ 196,614	207,758
Client relationships \| Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (years)	11 years
Client relationships \| Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (years)	26 years
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 109,222	80,956
Accumulated Amortization	45,560	33,676
Total	$ 63,662	47,280
Developed technology \| Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (years)	3 years
Developed technology \| Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (years)	5 years
Acquired databases
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (years)	15 years
Gross Carrying Amount	$ 46,000	46,000
Accumulated Amortization	4,600	1,533
Total	41,400	44,467
Software technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	142,395	122,363
Accumulated Amortization	108,702	96,567
Total	$ 33,693	25,796
Software technology \| Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (years)	2 years
Software technology \| Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (years)	10 years
Data content
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 35,021	32,305
Accumulated Amortization	28,508	24,973
Total	$ 6,513	7,332
Data content \| Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (years)	7 years
Data content \| Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (years)	20 years
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (years)	4 years
Gross Carrying Amount	$ 290	0
Accumulated Amortization	12	0
Total	$ 278	0
Trade names
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (years)	15 years
Gross Carrying Amount	$ 0	6,693
Accumulated Amortization	0	4,431
Total	$ 0	$ 2,262

COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	Aug. 31, 2023	Aug. 31, 2022	Mar. 01, 2022
Concentration Risk [Line Items]
Purchase commitment, remaining minimum amount committed	$ 362,200,000	$ 373,900,000
Letters of credit outstanding	600,000	500,000
Letter of Credit \| 2022 Credit Agreement \| Line of Credit
Concentration Risk [Line Items]
Maximum borrowing capacity			$ 100,000,000.0
Commitment to fund investment
Concentration Risk [Line Items]
Commitment	$ 700,000	$ 1,100,000

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 468,173	$ 396,917	$ 399,590
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	105,384	86,683	64,476
Amortization of lease right-of-use assets	32,344	43,032	42,846
Stock-based compensation expense	62,038	56,003	45,065
Deferred income taxes	(31,119)	(8,715)	(4,602)
Asset impairments	25,946	64,272	0
Changes in assets and liabilities, net of effects of acquisitions
Accounts receivable, net of reserves	(40,103)	(32,980)	3,646
Accounts payable and accrued expenses	8,393	12,815	2,068
Accrued compensation	(3,431)	14,524	21,815
Deferred revenues	(3,387)	(6,100)	5,078
Taxes payable, net of prepaid taxes	41,396	(19,275)	26,298
Lease liabilities, net	(39,704)	(48,628)	(42,750)
Other, net	19,643	(20,271)	(8,304)
Net cash provided by operating activities	645,573	538,277	555,226
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property, equipment, leasehold improvements and capitalized internal-use software	(60,786)	(51,156)	(61,325)
Acquisition of businesses, net of cash and cash equivalents acquired	(23,593)	(1,981,641)	(58,056)
Purchases of investments	(11,014)	(878)	(18,787)
Proceeds from maturity or sale of investments	0	0	2,176
Net cash provided by (used in) investing activities	(95,393)	(2,033,675)	(135,992)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from debt	0	2,238,355	0
Repayments of debt	(375,000)	(825,000)	0
Payments of debt issuance costs	0	(9,736)	0
Dividend payments	(138,601)	(125,934)	(117,927)
Proceeds from employee stock plans	72,006	86,047	64,177
Repurchases of common stock	(176,720)	(18,639)	(264,702)
Other financing activities	(13,709)	(5,859)	(4,259)
Net cash provided by (used in) financing activities	(632,024)	1,339,234	(322,711)
Effect of exchange rate changes on cash and cash equivalents	4,015	(22,428)	(263)
Net increase (decrease) in cash and cash equivalents	(77,829)	(178,592)	96,260
Cash and cash equivalents at beginning of period	503,273	681,865	585,605
Cash and cash equivalents at end of period	425,444	503,273	681,865
Supplemental Disclosure of Cash Flow Information
Cash paid during the year for interest	76,524	29,525	8,021
Cash paid during the year for income taxes, net of refunds	91,170	76,252	46,588
Supplemental Disclosure of Non-Cash Transactions
Dividends declared, not paid	$ 37,265	$ 33,860	$ 30,845

FAIR VALUE MEASURES - Carrying Value and Estimated Carrying Value and Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total unamortized discounts and debt issuance costs	$ (12,300)	$ (17,576)
Total net carrying value of debt	1,612,700	1,982,424
Principal Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	1,625,000	2,000,000
Principal Amount \| Level 1 \| Senior Notes \| 2027 Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	500,000	500,000
Principal Amount \| Level 1 \| Senior Notes \| 2032 Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	500,000	500,000
Principal Amount \| Level 3 \| Line of Credit \| 2022 Credit Agreement \| Term Loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	375,000	750,000
Principal Amount \| Level 3 \| Line of Credit \| 2022 Credit Agreement \| Revolving Credit Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	250,000	250,000
Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	1,507,871	1,908,780
Estimated Fair Value \| Level 1 \| Senior Notes \| 2027 Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	460,890	470,525
Estimated Fair Value \| Level 1 \| Senior Notes \| 2032 Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	423,700	438,205
Estimated Fair Value \| Level 3 \| Line of Credit \| 2022 Credit Agreement \| Term Loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	376,406	750,975
Estimated Fair Value \| Level 3 \| Line of Credit \| 2022 Credit Agreement \| Revolving Credit Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	$ 246,875	$ 249,075

EARNINGS PER SHARE - Weighted Average Shares Outstanding (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Numerator
Net income used for calculating Basic EPS	$ 468,173	$ 396,917	$ 399,590
Net income used for calculating Diluted EPS	$ 468,173	$ 396,917	$ 399,590
Denominator
Weighted average common shares used in the calculation of Basic EPS (in shares)	38,194	37,864	37,856
Common stock equivalents associated with stock-based compensation plan (in shares)	704	872	714
Shares used in the calculation of Diluted EPS (in shares)	38,898	38,736	38,570
Basic EPS (in dollars per share)	$ 12.26	$ 10.48	$ 10.56
Diluted EPS (in dollars per share)	$ 12.04	$ 10.25	$ 10.36

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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-Topic 280
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-Topic 260
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-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities, and addition from assumption of issuance of common shares for dilutive potential common shares; of income (loss) available to common shareholders.

+ References + Details

FAIR VALUE MEASURES (Tables)

12 Months Ended

Aug. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables show, by level within the fair value hierarchy, our assets and liabilities that are measured at fair value on a recurring basis as of August 31, 2023 and 2022. We did not have any transfers between levels of fair value measurements during fiscal 2023 and 2022.


(in thousands)	Fair Value Measurements at August 31, 2023
	Level 1		Level 2		Level 3		Total
Assets
Money market funds(1)	$	137,125	$	—	$	—	$	137,125
Mutual funds(2)	—		32,210		—		32,210

Derivative instruments(3)	—		4,383		—		4,383
Total assets measured at fair value	$	137,125	$	36,593	$	—	$	173,718

Liabilities
Derivative instruments(3)	$	—	$	608	$	—	$	608
Contingent liability(4)	—		—		8,008		8,008
Total liabilities measured at fair value	$	—	$	608	$	8,008	$	8,616


(in thousands)	Fair Value Measurements at August 31, 2022
	Level 1		Level 2		Level 3		Total
Assets
Money market funds(1)	$	179,330	$	—	$	—	$	179,330
Mutual funds(2)	—		33,219		—		33,219

Derivative instruments(3)	—		12,412		—		12,412
Total assets measured at fair value	$	179,330	$	45,631	$	—	$	224,961

Liabilities
Derivative instruments(3)	$	—	$	8,307	$	—	$	8,307
Total liabilities measured at fair value	$	—	$	8,307	$	—	$	8,307

(1) Our money market funds are readily convertible into cash and the net asset value of each fund on the last day of the reporting period is used to determine its fair value. Our money market funds are included in Cash and cash equivalents within the Consolidated Balance Sheets.

(2) Our mutual funds' fair value is 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. Our mutual funds are included in Investments within the Consolidated Balance Sheets.

(3) Our derivative instruments include our foreign exchange forward contracts and interest rate swap agreements. We utilize the income approach to measure fair value for our foreign exchange 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. To estimate fair value for our interest rate swap agreements, we utilize a present value of future cash flows, leveraging a model-derived valuation that uses observable inputs such as interest rate yield curves. Refer to Note 5, Derivative Instruments for more information on our derivative instruments and their classification within the Consolidated Balance Sheets.

(4) The contingent liability resulted from the acquisition of a business during fiscal 2023. This liability reflects the present value of potential future payments that are contingent upon the achievement of certain specified milestones. The acquisition date fair value of the contingent liability was $7.9 million and was valued using a scenario-based method. This method incorporates unobservable inputs and assumptions made by management, including the probability of achieving specified milestones, expected time until payment and the discount rate. The fair value of the contingent liability is remeasured each reporting period until the contingency is resolved, with any changes in fair value recorded in SG&A in the Consolidated Statements of Income. The change in the fair value of the contingent liability from the acquisition date through August 31, 2023 was driven by the passage of time, with no changes made to key assumptions used in our fair value estimates.

Schedule of Assets and Liabilities Measured at Carrying Values and Fair Value

The following table summarizes information on our outstanding debt as of August 31, 2023 and 2022:


		August 31, 2023				August 31, 2022
(in thousands)	Fair Value Hierarchy	Principal Amount		Estimated Fair Value		Principal Amount		Estimated Fair Value
2027 Notes	Level 1	$	500,000	$	460,890	$	500,000	$	470,525
2032 Notes	Level 1	500,000		423,700		500,000		438,205
2022 Term Facility	Level 3	375,000		376,406		750,000		750,975
2022 Revolving Facility	Level 3	250,000		246,875		250,000		249,075
Total principal amount		$	1,625,000	$	1,507,871	$	2,000,000	$	1,908,780
Total unamortized discounts and debt issuance costs		(12,300)				(17,576)
Total net carrying value of debt		$	1,612,700			$	1,982,424

INCOME TAXES (Tables)

12 Months Ended

Aug. 31, 2023

Income Tax Disclosure [Abstract]

Provision for Income Taxes

The provision for income taxes is as follows:


(in thousands)	Years ended August 31,
	2023			2022			2021
U.S. operations	$	382,702		$	281,971		$	311,767
Non-U.S. operations	201,252			161,623			155,850
Income before income taxes	$	583,954		$	443,594		$	467,617

U.S. operations	$	54,337		$	18,107		$	40,595
Non-U.S. operations	61,444			28,570			27,432
Total provision for income taxes	$	115,781		$	46,677		$	68,027

Effective tax rate	19.8		%	10.5		%	14.5		%

Components of the Provision for Income Taxes

The components of the provision for income taxes consist of the following:


(in thousands)	Years ended August 31,
	2023		2022		2021
Current
U.S. federal	$	38,625	$	12,766	$	26,734
U.S. state and local	38,600		10,936		13,894
Non-U.S.	69,675		31,690		32,001
Total current taxes	$	146,900	$	55,392	$	72,629

Deferred
U.S. federal	$	(17,235)	$	(4,722)	$	1,031
U.S. state and local	(5,652)		(874)		(1,064)
Non-U.S.	(8,232)		(3,119)		(4,569)
Total deferred taxes	$	(31,119)	$	(8,715)	$	(4,602)
Total provision for income taxes	$	115,781	$	46,677	$	68,027

Percentage of Income Before Income Taxes

The following table presents a reconciliation between the U.S. corporate income tax rate and our effective tax rate:


	Years ended August 31,
(expressed as a percentage of income before income taxes)	2023		2022		2021
Tax at U.S. Federal statutory tax rate	21.0	%	21.0	%	21.0	%
Increase (decrease) in taxes resulting from:
State and local taxes, net of U.S. federal income tax benefit	3.1		1.8		2.1
Foreign income at other than U.S. rates	(0.1)		(1.2)		(1.0)
Foreign derived intangible income ("FDII") deduction	(1.6)		(2.2)		(1.9)

Income tax benefits from R&D tax credits	(3.8)		(4.1)		(3.9)
Stock-based payments	(2.2)		(3.4)		(2.2)
One-time adjustment(1)	3.8		—		—
Other, net	(0.4)		(1.4)		0.4
Effective tax rate	19.8	%	10.5	%	14.5	%

(1) During fiscal 2023, we recorded an out-of-period adjustment related to a review and analysis of certain tax positions, resulting in a one-time net charge of $22.1 million. The adjustment related to the accounting of tax balance sheet accounts. All local, federal and foreign taxes payable have been paid in a timely manner, subject to normal audits of open years.

Significant Components of Deferred Tax Assets and Liabilities

The significant components of deferred tax assets and liabilities recorded within the Consolidated Balance Sheets were as follows:


(in thousands)	August 31,
	2023		2022
Deferred tax assets:
Lease liabilities	$	55,608	$	45,842
Stock-based compensation	32,611		30,382
Unrealized tax loss on investment	—		4,216
Capitalization of R&D costs	58,709		—
Other	21,701		19,943
Total deferred tax assets	$	168,629	$	100,383

Deferred tax liabilities:
Depreciation on property, equipment and leasehold improvements	$	29,048	$	19,855
Purchased intangible assets, including acquired technology	84,102		57,098
Lease right-of-use assets	33,900		27,540
Other	1,087		1,537
Total deferred tax liabilities	$	148,137	$	106,030
Total deferred tax assets (liabilities), net	$	20,492	$	(5,647)

Reconciliation of Unrecognized Tax Benefits

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


(in thousands)
Unrecognized tax benefits as of August 31, 2020	$	12,331
Additions based on tax positions related to the current year	4,259
Release for tax positions of prior years	(1,720)

Unrecognized tax benefits as of August 31, 2021(1)	$	14,870
Additions based on tax positions related to the current year	7,959
Release for tax positions of prior years	(2,658)

Unrecognized tax benefits as of August 31, 2022(1)	$	20,171
Additions based on tax positions related to the current year	4,372
Release for tax positions of prior years	(3,490)
Unrecognized tax benefits as of August 31, 2023(1)	$	21,053

(1) The unrecognized tax benefits include accrued interest of $1.6 million, $1.4 million and $1.3 million as of August 31, 2023, 2022 and 2021, respectively.

Major Tax Jurisdictions in Which the Company and Affiliates Operate and the Earliest Tax Year Subject to Examination

At August 31, 2023, we remained subject to examination in the following significant tax jurisdictions for the fiscal years as indicated below:


Significant Tax Jurisdiction	Open Tax Fiscal Years
U.S.
Federal	2019	through	2022
State (various)	2016	through	2022

Europe
United Kingdom	2020	through	2022
France	2020	through	2022
Germany	2019	through	2022

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Aug. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of PresentationWe conduct business globally and manage our business on a geographic basis. The accompanying Consolidated Financial Statements and Notes to the Consolidated Financial Statements included in this Annual Report on Form 10-K are prepared in accordance with generally accepted accounting principles in the United States ("GAAP") for annual financial information and the instructions to Form 10-K and Article 10 of Regulation S-X. The accompanying Consolidated Financial Statements include our accounts and those of our wholly-owned subsidiaries; all intercompany activity and balances have been eliminated.
Subsequent Events	We have evaluated subsequent events through the date that the financial statements were issued.
Reclassifications	ReclassificationsIn fiscal 2023, we separated the components of Interest expense, net to present Interest income and Interest expense separately in the Consolidated Statements of Income. We conformed the comparative figures for fiscal 2022 and 2021 to the current year's presentation.
Use of Estimates	Use of EstimatesThe preparation of our Consolidated Financial Statements and related disclosures in conformity with GAAP required management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Significant estimates may include income taxes, stock-based compensation, goodwill and intangible assets, business combinations, long-lived assets, contingencies and impairment assessments. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from those estimates.
Revenue Recognition	Revenue Recognition Revenues are measured as the amount of consideration expected to be received in exchange for fulfilling our contractual performance obligations with our clients. The majority of our revenues are derived from client access to our multi-asset solutions powered by our suite of connected content available over the contractual term (referred to as the "hosted platform"). The hosted platform is a subscription-based service that provides client access to various combinations of products and services including workstations, portfolio analytics and enterprise solutions. In addition, through our CGS platform, we provide subscription access to a database of universally recognized identifiers reflecting differentiating characteristics for issuers and their financial instruments (referred to as the "identifier platform"). We determined the majority of our contracts with clients, whether for our hosted platform or identifier platform services, each represent a single performance obligation covering a series of distinct products and services that are substantially the same and that have the same pattern of transfer to the client. The primary nature of our promise to the client is to provide daily access to each of these data and analytics platforms, with revenue recognized over-time as performance is satisfied on an output time-based measure of progress, as the client is simultaneously receiving and consuming the benefits of the platform. We record deferred revenues when payments are received in advance of performance under the contract.
Stock-Based Compensation	Stock-Based Compensation Our stock-based awards include stock options, restricted stock units ("RSUs"), performance share units ("PSUs") and common stock purchased by eligible employees under our employee stock purchase plan ("ESPP"). We measure and recognize stock-based compensation for all stock-based awards granted to our employees and our non-employee members of the Board of Directors ("non-employee directors") based on their estimated grant date fair value. To estimate the grant date fair value, we utilize a lattice-binomial option-pricing model ("binomial model") for our employee stock options and the Black-Scholes model for non-employee director stock options and common stock purchased by eligible employees under our ESPP. Both the binomial model and Black-Scholes model involve certain estimates and assumptions such as: •Risk-free interest rate - based on the U.S. Treasury yield curve in effect at the time of grant with maturities equal to the expected terms of the stock-based awards granted. •Expected life - the weighted average period the stock-based awards are expected to remain outstanding. •Expected volatility - based on a blend of historical volatility of the stock-based award's useful life and the weighted average implied volatility for call option contracts traded in the 90 days preceding the stock-based award's valuation date. •Dividend yield - the expectation of dividend payouts based on our history. The binomial model also incorporates market conditions, vesting restrictions and exercise patterns. For RSUs and PSUs, the grant date fair value is measured by reducing the grant date price of our common stock 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. The number of PSUs granted assumes target-level achievement of the specified performance levels within the payout range. The ultimate number of common shares that may be earned from a PSU is determined based on the actual achievement of the specified performance levels within the payout range. Stock-based compensation expense for stock option and RSU awards is recognized over the requisite service period using the straight-line method. The amount of stock-based compensation expense recognized on any date, for stock options and RSUs granted, is at least equal to the vested portion of the award on that date. Our PSUs require management to make assumptions regarding the probability of achieving specified performance levels established at the time of grant, and recognize stock-based compensation expense using the straight-line method over the requisite service period. The probability of achieving the specified performance levels is reviewed on a quarterly basis to ensure the amount of stock-based compensation expense appropriately reflects the expected achievement. For our ESPP, compensation expense is recognized on a straight-line basis over the offering period. Stock-based awards are subject to the continued employment and continued service at the time of vesting by employees and non-employee directors, respectively. Compensation expense for stock-based awards is recorded net of estimated forfeitures, which are based on historical forfeiture rates and are revised if actual forfeitures differ from those estimates.
Research and Product Development Costs	Research and Product Development CostsWe do not have a separate research and product development ("R&D") department, but rather these costs primarily consist of employee expenses, such as salaries and related benefits for our product development, software engineering and technical support departments, and certain third parties. These teams collaborate with our strategists, product and content managers, technologists, sales and other team members to develop new products and process innovations and enhance existing products. Our R&D costs are expensed as incurred and are primarily recorded in employee compensation costs, which are included in our Cost of services and Selling, general and administrative ("SG&A") expenses in the Consolidated Statements of Income, dependent on the nature of the team.
Income Taxes	Income Taxes We account for income taxes using the asset and liability method. Under this method deferred tax assets and liabilities are recorded for the temporary differences between the financial statement and the tax basis of assets and liabilities. In addition, deferred tax assets and liabilities are recorded for net operating loss carryforwards ("NOLs") and tax credit carryforwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates that apply to taxable income in effect for the years in which they are expected to be realized or settled. Deferred tax assets are evaluated for future realization and reduced by a valuation allowance to the amount that is more likely than not (defined as a likelihood of more than 50%) to be realized. Applicable accounting guidance prescribes a comprehensive model for financial statement recognition, measurement, classification and disclosure of uncertain tax positions that a company has taken or expects to take on a tax return. We follow a two-step approach in recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not (defined as a likelihood of more than 50%) that a tax position will be sustained based on its technical merits as of the reporting date. The second step, for those positions that meet the recognition criteria, is to measure and recognize the largest amount of benefit that is greater than 50% likely of being realized upon effective settlement with a taxing authority. We classify the liability for unrecognized tax benefits as Taxes Payable (non-current) and to the extent we anticipate payment of cash within one year, the benefit is classified as Current taxes payable in the Consolidated Balance Sheets. The determination of liabilities related to uncertain tax positions and associated interest and penalties requires significant estimates and assumptions; as such, there can be no assurance that we will accurately predict the outcomes of these audits. For this reason and due to ongoing audits by multiple tax authorities, we regularly engage in discussions and negotiations with tax authorities regarding tax matters in various jurisdictions. We adjust these reserves in light of changing facts and circumstances, such as the closing of a tax audit or the refinement of an estimate. To the extent that the final outcome of these matters is different than the amounts recorded, such differences will affect the provision for income taxes in the period in which such determination is made. We accrue interest on all tax exposures for which reserves have been established consistent with jurisdictional tax laws, and classify this interest as Provision for income taxes in the Consolidated Statements of Income and Current taxes payable or Taxes payable (non-current), based on the expected timing of the payment, within the Consolidated Balance Sheets.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consist of cash and highly liquid investments including demand deposits and money market funds available for withdrawal without restriction or with original maturities of 90 days or less. The carrying value of our cash and cash equivalents approximates fair value.
Accounts Receivable	Accounts Receivable Accounts receivable are recorded at the invoiced amount, net of an allowance for any potential uncollectible amounts. Accounts receivable also includes unbilled receivables reflecting revenues earned but not yet invoiced. Amounts included in accounts receivable are expected to be collected within one year. We evaluate our allowance to include expected credit losses and collectability trends based on a variety of factors, including our historical write-off activity, current economic environment, customer-specific information and expectations of future economic conditions. Our allowance is recorded to SG&A in the Consolidated Statements of Income and we assess the adequacy of the allowance on a quarterly basis. Recoveries of accounts previously reserved are recognized as a reversal to SG&A when payment is received. We write-off accounts receivable balances when we have exhausted our collection efforts.
Property, Equipment and Leasehold Improvements	Property, Equipment and Leasehold Improvements Property, equipment and leasehold improvements ("PPE") are stated at cost, less accumulated depreciation and amortization. Property and equipment are depreciated based on the straight-line method over the estimated useful lives of the assets, ranging from three to five years for computers and related equipment and seven years for furniture and fixtures. Leasehold improvements are amortized on a straight-line basis over the shorter of their respective useful lives or the related lease term. Repairs and maintenance expenditures, which are not considered leasehold improvements, and do not extend the useful life of the property and equipment, are expensed as incurred. We review our PPE to determine if any indicators of impairment are present on a quarterly basis or whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. If indicators of impairment are present, the asset group is tested for impairment by comparing the carrying value to undiscounted cash flows and, if impaired, written down to fair value based on discounted cash flows. In addition, we periodically evaluate the estimated remaining useful lives of long-lived intangible assets to determine whether events or changes in circumstances warrant a revision to the remaining period of depreciation or amortization.
Goodwill	Goodwill We recognize the excess of the purchase price over the fair value of identifiable net assets acquired at the acquisition date as goodwill. Goodwill is not amortized but is tested for impairment at the reporting unit level annually, or more frequently if impairment indicators occur. Goodwill is deemed to be impaired and written-down in the period in which the carrying value of the reporting unit exceeds its fair value. We have three reporting units, Americas, EMEA and Asia Pacific, which are consistent with our operating segments. When assessing goodwill for impairment, we may first elect to perform a qualitative analysis for the reporting units to determine whether it is more likely than not (a likelihood of more than 50 percent) that the fair value of the reporting unit is less than its carrying value. If the qualitative analysis indicates that it is more likely than not the fair value of a reporting unit is less than its carrying amount or if we elect not to perform a qualitative analysis, a quantitative analysis is performed to determine whether a goodwill impairment exists. The quantitative goodwill impairment analysis is used to identify potential impairment by comparing the carrying amount of a reporting unit with its fair value. To perform this analysis, we apply the income approach which utilizes discounted cash flows, along with other relevant market information. The annual review of the carrying value of goodwill requires us to develop estimates of expected cash flows by reporting unit, based on future business performance, discounted by their respective weighted average cost of capital. Changes in our estimates can impact the present value of expected cash flows used in determining fair value of a reporting unit. If the carrying value of the reporting unit exceeds the fair value, then the goodwill is considered impaired and written down to the reporting unit’s fair value. The impairment loss for the reporting unit cannot exceed the carrying amount of the goodwill allocated to that reporting unit.
Intangible Assets	Intangible Assets Acquired Intangible Assets We amortize intangible assets over their estimated useful lives, assuming no residual value. We evaluate the useful lives annually to determine whether events and circumstances warrant a revision to the remaining period of amortization. If the estimate of the remaining useful life is changed, the remaining carrying amount of the intangible asset is amortized prospectively over that revised remaining useful life. Intangible assets are tested for impairment qualitatively on a quarterly basis or whenever events or changes in circumstances indicate that the carrying amount of an asset group is not recoverable. If indicators of impairment are present, amortizable intangible assets are tested for impairment by comparing the carrying value to undiscounted cash flows and, if impaired, written down to fair value based on discounted cash flows. Developed Technology Our developed technology intangible assets include capitalized internal-use software related to internal and external costs incurred during the application development stage related to developing, modifying or obtaining software for internal-use. Costs related to software upgrades and enhancements are capitalized if it is determined that these upgrades or enhancements provide additional functionality to the software. The capitalized software is amortized using the straight-line method over the estimated useful life of the software, generally three to five years. These assets are subject to the impairment test guidance specified in the Acquired Intangible Assets disclosure above.
Leases	Leases Our lease portfolio consists of operating leases primarily related to our office space. We determine if an arrangement qualifies as a lease at inception by evaluating if there is an identified asset and whether we obtain substantially all the economic benefits of and have the right to control the use of an asset. For operating leases with a term greater than one year, we recognize lease right-of-use ("ROU") assets and lease liabilities as the present value of future minimum lease payments over the reasonably certain lease term beginning at the commencement date. The future minimum lease payments include fixed lease payments and certain qualifying index-based variable payments. Our lease ROU assets may further be impacted by prepayments, lease incentives received and initial direct costs incurred. Our operating leases are classified within Lease right-of-use assets, net, Current lease liabilities and Long-term lease liabilities on our Consolidated Balance Sheets. Our leases generally do not have a readily determinable implicit rate, therefore we use our incremental borrowing rate ("IBR") at the lease commencement date, or on the date of lease modification, if applicable, in determining the present value of future payments. Our IBR is derived by selecting U.S. corporate yield curves observed for public companies that are reflective of our credit rating, adjusted to approximate a secured rate of borrowing. We also consider revisions to the rate to reflect the geographic location where the leased asset is located. Certain of our lease agreements include options to extend and options to terminate the lease, which we do not include in our minimum lease terms unless management is reasonably certain to exercise. We account for the lease and non-lease components as a single lease component, which we recognize over the expected term on a straight-line expense basis in occupancy costs (a component of SG&A expense in the Consolidated Statements of Income). Variable lease payments are not included in the calculation of lease ROU assets and lease liabilities and are expensed as incurred within occupancy costs. We review our lease ROU assets for impairment when there is an indication that an asset may no longer be recoverable. The impairment assessment requires significant judgments and estimates, including estimating subtenant rental income, calculating an appropriate discount rate and assessing other applicable future cash flows associated with the leased location. These estimates are based on our experience and knowledge of the market in which the property is located, previous efforts to dispose of similar assets and the assessment of existing market conditions. Impairments are recognized as a reduction to the carrying value of the Lease right-of-use assets, net with a corresponding increase to Asset impairments on our Consolidated Balance Sheets and Consolidated Statements of Income, respectively.
Derivative Instruments	Derivative Instruments We use derivative financial instruments (“derivatives”) to manage exposure to foreign currency exchange rates and variable interest rates. Our primary objective in holding derivatives is to reduce the volatility in cash flows associated with foreign currency fluctuations and funding activities arising from changes in interest rates. We do not employ derivatives for trading or speculative purposes. Foreign Currency Forward Contracts As we conduct business outside the U.S. in several currencies, we utilize derivative instruments (foreign currency forward contracts) to mitigate our currency exposures from fluctuations in foreign currency exchange rates that can create volatility in our results of operations, cash flows and financial condition. Our primary currency exposures include the Indian Rupee, Euro, British Pound Sterling and Philippine Peso. In designing a specific hedging approach, we consider several factors, including offsetting exposures, significance of exposures, forecasting risk and potential effectiveness of the hedge. Interest Rate Swap Agreement We leverage interest rate swap agreements to hedge the variability of our cash flows resulting from floating interest rates on our debt. Through a swap agreement, for the portion of the debt that is hedged, we pay interest at a fixed interest rate as opposed to a floating interest rate per the contractual terms of our debt agreement, at specified intervals throughout the life of the interest rate swap agreement. Derivative Instrument Classification At inception of the hedge accounting relationship and on a quarterly basis, we formally assess whether derivatives designated as cash flow hedges are highly effective in offsetting changes to the forecasted cash flows of the hedged items. If the cash flow hedges are deemed to be highly effective, the gain or loss on the cash flow hedges are initially reported as a component of Accumulated other comprehensive loss ("AOCL") on the Consolidated Balance Sheets. These changes are subsequently reclassified to the Consolidated Statements of Income and recorded in SG&A for the foreign currency forward contracts and Interest expense for the interest rate swap agreements, when the hedged exposure affects earnings. All our derivatives are assessed for effectiveness at each reporting period and are designated as hedging instruments.
Treasury Stock	Treasury Stock We account for treasury stock under the cost method and include treasury stock as a component of Stockholders' equity on the Consolidated Balance Sheets. We may repurchase shares of our common stock under our share repurchase program in the open market and via privately negotiated transactions, subject to market conditions. Repurchased shares of our common stock are recorded at the market price on the trade date and are held as treasury shares until they are reissued or retired. When treasury shares are reissued, if the issuance price is higher than the average price paid to acquire the shares ("the cost"), the excess of the issuance price over the cost is credited to additional paid-in capital ("APIC"). If the issuance is lower than the cost, the difference is first charged against any credit balance in APIC from treasury stock, with the remaining balance charged to Retained earnings. We account for the formal retirement of treasury shares by deducting its par value from common stock, reflecting any excess over par value as a reduction to APIC (to the extent created by previous issuances of the shares) and then Retained earnings. The Inflation Reduction Act of 2022 ("IRA"), which was enacted into law on August 16, 2022, imposed a nondeductible 1% excise tax on the net value of certain stock repurchases made after December 31, 2022. During fiscal 2023, we reflected the applicable excise tax in treasury stock as part of the cost basis of the stock repurchased, and recorded a corresponding liability for the excise taxes payable in Accounts payable and accrued expenses on the Consolidated Balance Sheets.
Fair Value Measurements	Fair Value MeasurementsFair 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 inputs to these methodologies consider market comparable information taking into account the principal or most advantageous market in which we would transact. 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.
Foreign Currency Translation and Remeasurement	Foreign Currency Translation and Remeasurement Certain wholly-owned subsidiaries operate under a functional currency different from the U.S. dollar, including our primary currency exposures of the Indian Rupee, Euro, British Pound Sterling and Philippine Peso. The financial statements of our foreign subsidiaries that are local currency functional are translated into U.S. dollars using period-end rates of exchange for assets and liabilities and average monthly rates for revenues and expenses. The resulting translation gains and losses that arise from translating these assets, liabilities, revenues and expenses of our foreign operations are recorded in AOCL in the Consolidated Balance Sheets. For the financial statements of our foreign subsidiaries that are U.S. dollar functional, but maintain their books of record in their respective local currency, we remeasure our revenues and expenses into U.S. dollars at the average rates of exchange for the period, monetary assets and liabilities using period-end rates and non-monetary assets and liabilities at their historical rates. The resulting remeasurement gains and losses that arise from remeasuring the assets and liabilities of our foreign operations are recorded to SG&A in the Consolidated Statements of Income.
Concentrations of Credit Risk, Data Providers and Cloud Providers	Concentrations of Credit Risk Credit risk arises from the potential nonperformance by counterparties to fulfill their financial obligations. Our financial instruments that potentially subject us to concentrations of credit risk consist primarily of our cash and cash equivalents, accounts receivable, investments in mutual funds and derivative instruments. The maximum credit exposure of our cash and cash equivalents, accounts receivable and investments in mutual funds is their carrying values as of the balance sheet date. The maximum credit exposure related to our derivative instruments is based upon the gross fair values as of the balance sheet date. Cash and Cash Equivalents and Investments We are exposed to credit risk on our cash and cash equivalents and investments in mutual funds in the event of default by the financial institutions with which we transact. We invest our cash and cash equivalents and investments in mutual funds in accordance with our restrictive cash investment practices with the primary objective to preserve capital and maintain liquidity while minimizing our exposure to credit risk. We have not experienced any losses in such accounts and we limit our exposure to credit loss by placing our cash and cash equivalents and investments in mutual funds with multiple financial institutions that we believe are high-quality and credit-worthy. Accounts Receivable Our accounts receivable credit risk is dependent upon the financial stability of our individual clients. Our receivable reserve was $7.8 million and $2.8 million as of August 31, 2023 and August 31, 2022, respectively. We do not require collateral from our clients; however, no single client represented more than 3.5% of our total subscription revenues in any fiscal year presented. Our concentration of credit risk related to our accounts receivable is generally limited, due to our large and geographically dispersed client base. Derivative Instruments Our use of derivative instruments exposes us to credit risk to the extent counterparties may be unable to meet the terms of their agreements. To mitigate credit risk, we limit counterparties to financial institutions we believe are credit-worthy and use several institutions to reduce concentration risk. We do not expect any losses as a result of default by our counterparties. Concentrations of Data Providers We integrate data from various third-party sources into our hosted proprietary data and analytics platform. As certain data sources have a limited number of suppliers, we make every effort to assure that, where reasonable, alternative sources are available. We are not dependent on any individual third-party data supplier to meet the needs of our clients, with only two data suppliers each representing more than 10% of our total data costs for the year ended August 31, 2023. Concentrations of Cloud Providers Our clients rely on us for the delivery of time-sensitive, up-to-date data and applications. Our business is dependent on our ability to process substantial volumes of data and transactions rapidly and efficiently. We currently use multiple providers of cloud services; however, one supplier provided the majority of our cloud computing support for fiscal 2023. We maintain back-up facilities and other redundancies at our major data centers, take security measures and have emergency planning procedures to minimize the risk that an event will disrupt our operations.
Recently Adopted Accounting Pronouncements and Accounting Pronouncements Not Yet Adopted	Recently Adopted Accounting Pronouncements We did not adopt any new standards or updates issued by the Financial Accounting Standards Board ("FASB") during fiscal 2023 that had a material impact on our Consolidated Financial Statements. Accounting Pronouncements Not Yet Adopted There were no new accounting pronouncements issued or effective as of August 31, 2023 that had, or are expected to have, a material impact on our Consolidated Financial Statements.
Earnings per Share	Basic earnings per common share ("Basic EPS") is computed by dividing net income by the number of weighted average common shares outstanding during the year. Diluted earnings per common share ("Diluted EPS") is computed using the treasury stock method, by dividing net income by the cumulative weighted average common shares that are outstanding or are issuable upon the exercise of outstanding stock-based compensation awards during the year. Stock-based compensation awards that are out-of-the-money and PSUs in which the performance criteria have not been met as of the end of the respective fiscal year are omitted from the calculation of Diluted EPS.

STOCK-BASED COMPENSATION - Summary of Share-based Awards Available for Grant (Details)	12 Months Ended
	Aug. 31, 2023 shares	Aug. 31, 2022 shares	Aug. 31, 2021 shares
Share-based Awards Available for Grant
Number of share equivalents (in shares)	2.5
Employee
Share-based Awards Available for Grant
Beginning balance (in shares)	4,669,000	5,080,000	5,626,000
Ending balance (in shares)	4,226,000	4,669,000	5,080,000
Non-employee directors
Share-based Awards Available for Grant
Beginning balance (in shares)	232,000	238,000	250,000
Ending balance (in shares)	223,000	232,000	238,000
Stock options \| Employee
Share-based Awards Available for Grant
Granted (in shares)	(268,000)	(348,000)	(418,000)
Stock options \| Non-employee directors
Share-based Awards Available for Grant
Granted (in shares)	(5,000)	(6,000)	(12,000)
RSUs \| Employee
Share-based Awards Available for Grant
Granted (in shares)	(158,000)	(180,000)	(157,000)
RSUs \| Non-employee directors
Share-based Awards Available for Grant
Granted (in shares)	(4,000)	(4,000)	0
PSUs \| Employee
Share-based Awards Available for Grant
Granted (in shares)	(86,000)	(77,000)	(91,000)
Performance adjustment (in shares)	(21,000)
PSUs \| Non-employee directors
Share-based Awards Available for Grant
Granted (in shares)	0	0	0
Performance adjustment (in shares)	0
Share-based awards \| Employee
Share-based Awards Available for Grant
Forfeited (in shares)	90,000	194,000	120,000
Share-based awards \| Non-employee directors
Share-based Awards Available for Grant
Forfeited (in shares)	0	4,000	0

EARNINGS PER SHARE - Narrative (Details) - shares	12 Months Ended
EARNINGS PER SHARE - Narrative (Details) - shares	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	566,173	329,189	1,750
PSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	59,478	60,725	68,990

DERIVATIVE INSTRUMENTS - Narrative (Details) - USD ($) $ in Thousands				12 Months Ended
	Aug. 31, 2023	May 31, 2022	Mar. 01, 2022	Aug. 31, 2023	Aug. 31, 2022	Mar. 05, 2020
Derivative [Line Items]
Estimated pre-tax derivative gains to be reclassified in next 12 months	$ 3,800
Minimum
Derivative [Line Items]
Currency exposure (as a percent)				25.00%
Maximum
Derivative [Line Items]
Currency exposure (as a percent)				75.00%
Cash Flow Hedging \| Designated as Hedging Instrument
Derivative [Line Items]
Gross notional value	372,644			$ 372,644	$ 756,846
Interest rate swap agreement \| Cash Flow Hedging \| Designated as Hedging Instrument
Derivative [Line Items]
Gross notional value	$ 200,000		$ 800,000	$ 200,000	$ 600,000	$ 287,500
Fixed interest rate			1.162%			0.7995%
Quarterly decline in notional amount		$ 100,000
Benefit recognized in interest expense			$ 3,500

STOCK-BASED COMPENSATION - Summary of Weighted Average Assumptions (Details) - Employee - $ / shares				12 Months Ended
	Nov. 01, 2022	Nov. 01, 2021	Nov. 09, 2020	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted (in shares)	266,051	292,377	408,093	268,185	348,458	417,546
Weighted average grant date fair value (in dollars per share)				$ 125.57	$ 103.49	$ 78.31
Weighted average exercise price (in dollars per share)				$ 426.22	$ 433.09	$ 317.17
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate, minimum				3.37%	0.07%	0.04%
Risk-free interest rate, maximum				5.05%	2.99%	1.67%
Expected life				6 years 7 months 6 days	6 years 10 months 24 days	7 years 1 month 6 days
Expected volatility, minimum				24.00%	24.00%	26.00%
Expected volatility, maximum				25.00%	25.00%	27.00%
Dividend yield				0.83%	0.86%	0.12%
Vesting percentage				20.00%
Award vesting period				5 years
Expiration period				10 years

STOCK-BASED COMPENSATION - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Millions				12 Months Ended
	Nov. 01, 2022	Nov. 01, 2021	Nov. 09, 2020	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Number Outstanding
Beginning balance (in shares)				2,089,000	2,277,000	2,254,000
Exercised (in shares)				(318,000)	(414,000)	(322,000)
Forfeited (in shares)				(56,000)	(128,000)	(85,000)
Ending balance (in shares)				1,987,662	2,089,000	2,277,000
Options vested and exercisable (in shares)				1,076,000
Options expected to vest (in shares)				839,000
Weighted Average Exercise Price Per Share
Beginning balance (in dollars per share)				$ 253.85	$ 214.89	$ 189.32
Exercised (in dollars per share)				181.67	178.57	166.36
Forfeited (in dollars per share)				373.04	301.05	237.23
Ending balance (in dollars per share)				285.95	$ 253.85	$ 214.89
Options vested and exercisable (in dollars per share)				221.45
Options expected to vest (in dollars per share)				$ 358.37
Aggregate Intrinsic Value
Outstanding, aggregate intrinsic value				$ 268.8
Options vested and exercisable, aggregate intrinsic value				231.3
Options expected to vest, aggregate intrinsic value				$ 65.5
Weighted Average Remaining Contractual Life
Outstanding, weighted average remaining contractual term				6 years
Options vested and exercisable, weighted average remaining contractual life				4 years 6 months
Options expected to vest, weighted average remaining contractual term				7 years 7 months 6 days
Exercise price (in dollars per share)				$ 436.41
Pre-tax intrinsic value of stock options exercised				$ 77.5	$ 104.1	$ 54.3
Unamortized stock-based compensation				$ 59.1
Remaining vesting period				2 years 10 months 24 days
Stock options
Weighted Average Remaining Contractual Life
Remaining vesting period				3 years 1 month 6 days
Employee
Number Outstanding
Granted (in shares)	266,051	292,377	408,093	268,185	348,458	417,546
Weighted Average Exercise Price Per Share
Granted (in dollars per share)				$ 426.22	$ 433.09	$ 317.17
Weighted average grant date fair value (in dollars per share)				$ 125.57	$ 103.49	$ 78.31
Non-employee directors
Number Outstanding
Granted (in shares)				5,000	6,000	12,000
Weighted Average Exercise Price Per Share
Granted (in dollars per share)				$ 428.70	$ 428.71	$ 318.20
Weighted average grant date fair value (in dollars per share)				$ 128.84	$ 109.11	$ 82.01

EMPLOYEE BENEFIT PLANS	12 Months Ended
EMPLOYEE BENEFIT PLANS	Aug. 31, 2023
Retirement Benefits [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS Defined Contribution Plan We established our 401(k) Plan in fiscal 1993. The 401(k) Plan is a defined contribution plan covering all full-time, U.S. employees of FactSet 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. We match up to 4% 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 FactSet. We contributed $16.6 million, $12.0 million and $11.6 million in matching contributions to employee 401(k) accounts during fiscal 2023, 2022 and 2021, respectively.

STOCKHOLDERS’ EQUITY - Dividends Declared (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended												12 Months Ended
	Aug. 31, 2023	May 31, 2023	Feb. 28, 2023	Nov. 30, 2022	Aug. 31, 2022	May 31, 2022	Feb. 28, 2022	Nov. 30, 2021	Aug. 31, 2021	May 31, 2021	Feb. 28, 2021	Nov. 30, 2020	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Equity [Abstract]
Dividends per Share of Common Stock (in dollars per share)	$ 0.98	$ 0.98	$ 0.89	$ 0.89	$ 0.89	$ 0.89	$ 0.82	$ 0.82	$ 0.82	$ 0.82	$ 0.77	$ 0.77	$ 0.98	$ 0.89	$ 0.82
Total amount	$ 37,265	$ 37,442	$ 34,099	$ 34,010	$ 33,860	$ 33,795	$ 31,065	$ 30,973	$ 30,845	$ 30,972	$ 29,141	$ 29,266	$ 142,816	$ 129,693	$ 120,224

INCOME TAXES

12 Months Ended

Aug. 31, 2023

Income Tax Disclosure [Abstract]

INCOME TAXES

We are subject to taxation in the United States and various foreign jurisdictions in which we conduct our business. 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 the tax basis of assets and liabilities using currently enacted tax rates.

Income Taxes Provision and Components of Income Taxes

The provision for income taxes is as follows:


(in thousands)	Years ended August 31,
	2023			2022			2021
U.S. operations	$	382,702		$	281,971		$	311,767
Non-U.S. operations	201,252			161,623			155,850
Income before income taxes	$	583,954		$	443,594		$	467,617

U.S. operations	$	54,337		$	18,107		$	40,595
Non-U.S. operations	61,444			28,570			27,432
Total provision for income taxes	$	115,781		$	46,677		$	68,027

Effective tax rate	19.8		%	10.5		%	14.5		%

The components of the provision for income taxes consist of the following:


(in thousands)	Years ended August 31,
	2023		2022		2021
Current
U.S. federal	$	38,625	$	12,766	$	26,734
U.S. state and local	38,600		10,936		13,894
Non-U.S.	69,675		31,690		32,001
Total current taxes	$	146,900	$	55,392	$	72,629

Deferred
U.S. federal	$	(17,235)	$	(4,722)	$	1,031
U.S. state and local	(5,652)		(874)		(1,064)
Non-U.S.	(8,232)		(3,119)		(4,569)
Total deferred taxes	$	(31,119)	$	(8,715)	$	(4,602)
Total provision for income taxes	$	115,781	$	46,677	$	68,027

Our effective tax rate is based on recurring factors and non-recurring events, including the taxation of foreign income. Our effective tax rate will vary based on, among other things, changes in levels of foreign income, as well as other non-recurring events.

The following table presents a reconciliation between the U.S. corporate income tax rate and our effective tax rate:


	Years ended August 31,
(expressed as a percentage of income before income taxes)	2023		2022		2021
Tax at U.S. Federal statutory tax rate	21.0	%	21.0	%	21.0	%
Increase (decrease) in taxes resulting from:
State and local taxes, net of U.S. federal income tax benefit	3.1		1.8		2.1
Foreign income at other than U.S. rates	(0.1)		(1.2)		(1.0)
Foreign derived intangible income ("FDII") deduction	(1.6)		(2.2)		(1.9)

Income tax benefits from R&D tax credits	(3.8)		(4.1)		(3.9)
Stock-based payments	(2.2)		(3.4)		(2.2)
One-time adjustment(1)	3.8		—		—
Other, net	(0.4)		(1.4)		0.4
Effective tax rate	19.8	%	10.5	%	14.5	%

Deferred Tax Assets and Liabilities

The significant components of deferred tax assets and liabilities recorded within the Consolidated Balance Sheets were as follows:


(in thousands)	August 31,
	2023		2022
Deferred tax assets:
Lease liabilities	$	55,608	$	45,842
Stock-based compensation	32,611		30,382
Unrealized tax loss on investment	—		4,216
Capitalization of R&D costs	58,709		—
Other	21,701		19,943
Total deferred tax assets	$	168,629	$	100,383

Deferred tax liabilities:
Depreciation on property, equipment and leasehold improvements	$	29,048	$	19,855
Purchased intangible assets, including acquired technology	84,102		57,098
Lease right-of-use assets	33,900		27,540
Other	1,087		1,537
Total deferred tax liabilities	$	148,137	$	106,030
Total deferred tax assets (liabilities), net	$	20,492	$	(5,647)

At August 31, 2023, our pre-tax federal and state NOLs were approximately $27.1 million and $9.9 million, respectively. These carryforwards may be used to offset future taxable income. Our federal NOLs have various expiration dates, beginning August 31, 2036, with some federal NOLs having an unlimited carryforward, and our state NOLs have various expiration dates, beginning August 31, 2025. Utilization of the NOLs may be subject to an annual limitation due to the ownership limitations provided by the Internal Revenue Code of 1986, as amended (the “Code”), and similar state provisions. Any annual limitation may result in the expiration of net operating losses before utilization.

Unrecognized Tax Benefits

The determination of liabilities related to uncertain tax positions and associated interest and penalties requires significant estimates and assumptions; as such, there can be no assurance that we will accurately predict the outcomes of these audits. We have no 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 our results of operations or financial position, beyond current estimates.

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


(in thousands)
Unrecognized tax benefits as of August 31, 2020	$	12,331
Additions based on tax positions related to the current year	4,259
Release for tax positions of prior years	(1,720)

Unrecognized tax benefits as of August 31, 2021(1)	$	14,870
Additions based on tax positions related to the current year	7,959
Release for tax positions of prior years	(2,658)

Unrecognized tax benefits as of August 31, 2022(1)	$	20,171
Additions based on tax positions related to the current year	4,372
Release for tax positions of prior years	(3,490)
Unrecognized tax benefits as of August 31, 2023(1)	$	21,053

(1) The unrecognized tax benefits include accrued interest of $1.6 million, $1.4 million and $1.3 million as of August 31, 2023, 2022 and 2021, respectively.

We do not currently anticipate that the total amounts of unrecognized tax benefits will significantly change within the next 12 months. If our unrecognized tax benefits as of fiscal 2023, 2022, and 2021 were realized in a future period, this would result in a tax benefit of $19.1 million, $16.5 million and $14.9 million, respectively, which would affect the effective tax rate in a future period.

In the normal course of business, our tax filings are subject to audit by federal, state and foreign tax authorities. At August 31, 2023, we remained subject to examination in the following significant tax jurisdictions for the fiscal years as indicated below:


Significant Tax Jurisdiction	Open Tax Fiscal Years
U.S.
Federal	2019	through	2022
State (various)	2016	through	2022

Europe
United Kingdom	2020	through	2022
France	2020	through	2022
Germany	2019	through	2022

Undistributed Foreign Earnings

As of August 31, 2023, we had approximately $204.0 million of undistributed foreign earnings. We permanently reinvest all foreign undistributed earnings, except in jurisdictions where earnings can be repatriated substantially free of tax. It is not practicable to determine the deferred tax liability that would be payable if these earnings were repatriated to the U.S.

Inflation Reduction Act of 2022

On August 16, 2022, the IRA was signed into law. The IRA contains several revisions to the Code effective for taxable years beginning after December 31, 2022, including a 15% minimum income tax on certain large corporations. We do not expect this revision to have a material impact on our Consolidated Financial Statements.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Name Accounting Standards Codification
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-Paragraph 1
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section 50
-Paragraph 14
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-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 21
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-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

LEASES

12 Months Ended

Aug. 31, 2023

Leases [Abstract]

LEASES

Our lease portfolio is primarily related to our office space, under various operating lease agreements. We review new arrangements at inception to evaluate whether we obtain substantially all the economic benefits of and have the right to control the use of an asset. Our lease ROU assets and lease liabilities are recognized based on the present value of future minimum lease payments at lease commencement (which includes fixed lease payments and certain qualifying index-based variable payments) over the reasonably certain lease term, leveraging an estimated IBR. Certain adjustments to calculate our lease ROU assets may be required due to prepayments, lease incentives received and initial direct costs incurred. We account for lease and non-lease components as a single lease component, which we recognize over the expected term on a straight-line expense basis in occupancy costs (a component of SG&A expense) in our Consolidated Statements of Income.

As of August 31, 2023, we recognized $141.8 million of Lease ROU assets, net and $227.2 million of combined Current lease liabilities and Long-term lease liabilities in the Consolidated Balance Sheets. Such leases have a remaining lease term ranging from less than one year to just over 12 years and did not include any renewal or termination options that were not yet reasonably certain to be exercised.


(in thousands)	Minimum Lease Payments
Years Ended August 31,
2024	$	38,292
2025	37,423
2026	37,036
2027	35,825
2028	31,465
Thereafter	88,629
Total	$	268,670
Less: Imputed interest	41,449
Present value	$	227,221

The following table includes the components of our occupancy costs in our Consolidated Statements of Income:


	Years ended August 31,
(in thousands)	2023		2022		2021
Operating lease cost(1)	$	32,330	$	38,830	$	42,846
Variable lease cost(2)	$	17,940	$	11,542	$	14,585

The following table summarizes our lease term and discount rate assumptions related to the operating leases recorded on the Consolidated Balance Sheets:


	August 31,
	2023		2022
Weighted average remaining lease term (in years)	7.8		8.6
Weighted average discount rate (IBR)	4.5	%	4.4	%

The following table summarizes supplemental cash flow information related to our operating leases:


	Years ended August 31,
(in thousands)	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities	$	39,392	$	43,032	$	42,076
Lease ROU assets obtained in exchange for lease liabilities(1)	$	16,934	$	9,348	$	6,355
Reductions to ROU assets resulting from reductions to lease liabilities(2)	$	(1,376)	$	(17,597)	$	(700)

(1) Primarily includes new lease arrangements entered into during the respective year and contract modifications that extend our lease terms and/or provide additional rights.

(2) Primarily relates to lease term reassessments based on contractual options to early terminate, resulting in a reduction to the lease liability and the corresponding lease ROU asset.

During fiscal 2023 and 2022, we incurred impairment charges of $14.4 million and $31.5 million, respectively, related to our lease ROU assets associated with vacating certain leased office space, which are included in Asset impairments in the Consolidated Statements of Income. Refer to Note 4, Fair Value Measures, for more information on the lease ROU assets impairment methodology.

DERIVATIVE INSTRUMENTS - Gross Notional Values (Details) - Cash Flow Hedging - Designated as Hedging Instrument - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022	Mar. 01, 2022	Mar. 05, 2020
Derivative [Line Items]
Gross notional value	$ 372,644	$ 756,846
Foreign currency forward contracts
Derivative [Line Items]
Gross notional value	172,644	156,846
Interest rate swap agreement
Derivative [Line Items]
Gross notional value	$ 200,000	$ 600,000	$ 800,000	$ 287,500

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Loss
Balance, beginning of period (in shares) at Aug. 31, 2020		40,767,708
Beginning balance at Aug. 31, 2020	$ 896,375	$ 408	$ 939,067	$ (636,956)	$ 633,149	$ (39,293)
Beginning balance, treasury stock (in shares) at Aug. 31, 2020				2,737,456
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	399,590				399,590
Other comprehensive income (loss)	331					331
Common stock issued for employee stock plans (in shares)		360,877		318
Common stock issued for employee stock plans	64,073	$ 4	64,173	$ (104)
Vesting of restricted stock (in shares)		34,607		12,614
Vesting of restricted stock	$ (4,155)			$ (4,155)
Repurchase of common stock (in shares)	797,385			797,385
Repurchases of common stock	$ (264,702)			$ (264,702)
Stock-based compensation expense	45,065		45,065
Dividends declared	(120,224)				(120,224)
Balance, end of period (in shares) at Aug. 31, 2021		41,163,192
Ending balance at Aug. 31, 2021	1,016,353	$ 412	1,048,305	$ (905,917)	912,515	(38,962)
Ending balance, treasury stock (in shares) at Aug. 31, 2021				3,547,773
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	396,917				396,917
Other comprehensive income (loss)	(69,421)					(69,421)
Common stock issued for employee stock plans (in shares)		450,527		260
Common stock issued for employee stock plans	85,919	$ 5	86,042	$ (128)
Vesting of restricted stock (in shares)		39,499		14,229
Vesting of restricted stock	$ (6,031)			$ (6,031)
Repurchase of common stock (in shares)	46,200			46,200
Repurchases of common stock	$ (18,639)			$ (18,639)
Stock-based compensation expense	56,003		56,003
Dividends declared	$ (129,693)				(129,693)
Balance, end of period (in shares) at Aug. 31, 2022	38,044,756	41,653,218
Ending balance at Aug. 31, 2022	$ 1,331,408	$ 417	1,190,350	$ (930,715)	1,179,739	(108,383)
Ending balance, treasury stock (in shares) at Aug. 31, 2022	3,608,462			3,608,462
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 468,173				468,173
Other comprehensive income (loss)	21,242					21,242
Common stock issued for employee stock plans (in shares)		360,375		410
Common stock issued for employee stock plans	71,840	$ 3	72,003	$ (166)
Vesting of restricted stock (in shares)		83,035		32,034
Vesting of restricted stock	(13,544)	$ 1	(1)	$ (13,544)
Excise tax on share repurchases	$ (932)			$ (932)
Repurchase of common stock (in shares)	430,350			430,350
Repurchases of common stock	$ (176,720)			$ (176,720)
Stock-based compensation expense	62,038		62,038
Dividends declared	(142,816)				(142,816)
Other	$ (759)		(759)
Balance, end of period (in shares) at Aug. 31, 2023	38,025,372	42,096,628
Ending balance at Aug. 31, 2023	$ 1,619,930	$ 421	$ 1,323,631	$ (1,122,077)	$ 1,505,096	$ (87,141)
Ending balance, treasury stock (in shares) at Aug. 31, 2023	4,071,256			4,071,256

GOODWILL (Details) - USD ($)	12 Months Ended
GOODWILL (Details) - USD ($)	Aug. 31, 2023	Aug. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment charge	$ 0	$ 0

ACQUISITIONS

12 Months Ended

Aug. 31, 2023

Business Combination and Asset Acquisition [Abstract]

ACQUISITIONS

We completed acquisitions of several businesses during fiscal 2021 through fiscal 2023, with the most significant cash flows related to the acquisitions of CGS, Cobalt Software, Inc. ("Cobalt") and Truvalue Labs, Inc. ("TVL").

CUSIP Global Services

On March 1, 2022, we completed the acquisition of CGS for a cash purchase price of $1.932 billion, inclusive of working capital adjustments. CGS manages a database of 60 different data elements uniquely identifying more than 50 million global financial instruments. It is the foundation for security master files relied on by critical front, middle and back-office functions. CGS, operating on behalf of the American Bankers Association ("ABA"), is the exclusive issuer of Committee on Uniform Security Identification Procedures ("CUSIP") and CUSIP International Number System ("CINS") identifiers globally and also acts as the official numbering agency for International Securities Identification Number ("ISIN") identifiers in the United States and as a substitute number agency for more than 30 other countries. We acquired CGS to expand our critical role in the global capital markets. The CGS purchase price was in excess of the fair value of net assets acquired, resulting in the recognition of goodwill. We finalized the purchase accounting for the CGS acquisition during the fourth quarter of fiscal 2022 and did not record any material changes to the preliminary purchase price allocation.

The acquisition date fair values of major classes of assets acquired and liabilities assumed are as follows:

Acquisition Date Fair Value

Acquisition Date Useful Life

Amortization Method

(in thousands)

(in years)

Current assets(1)

29,728

Amortizable intangible assets

ABA business process

1,583,000

36 years

Straight-line

Client relationships

164,000

26 years

Straight-line

Acquired databases

46,000

15 years

Straight-line

Goodwill

214,970

Current liabilities(2)

(104,691)

Deferred revenues, long-term

(1,481)

Total purchase price

1,931,526

(1) Included an accounts receivable balance of $29.5 million.

(2) Included a deferred revenues balance of $99.4 million. The CGS acquisition was accounted for in accordance with ASU No. 2021-08, Business Combinations: Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (Topic 805); as such, the deferred revenues did not include a fair value adjustment.

Goodwill totaling $215.0 million represents the excess of the CGS purchase price over the fair value of net assets acquired and considers future economic benefits that we expect to achieve as a result of the acquisition. The goodwill is included in the Americas segment and is deductible for income tax purposes. The majority of the net assets acquired relate to an ABA business process intangible which is a renewable license agreement with the ABA to manage the issuance, maintenance and access to the CUSIP numbering system and related database of CUSIP identifiers. This intangible asset's valuation and associated useful life considers the nature of the business relationship, multi-year term of the current agreement and the likelihood of long-term renewals. The useful life assigned to the Client relationships intangible asset considers the strong historical client retention and client renewals as a basis for expected future retention. The useful life assigned to Acquired databases considers the historical period of data collection and the limited changes to the data on an annual basis.

The results of CGS's operations have been included in our Consolidated Financial Statements, within the Americas, EMEA, and Asia Pacific segments, beginning with the closing of the acquisition on March 1, 2022. CGS operates as part of our CTS

workflow solution. Pro forma information has not been presented because the effect of the CGS acquisition was not material to our Consolidated Financial Statements.

Cobalt Software, Inc.

On October 12, 2021, we acquired all of the outstanding shares of Cobalt for a purchase price of $50.0 million, net of cash acquired, and inclusive of working capital adjustments. Cobalt is a leading portfolio monitoring platform for the private capital industry. We acquired Cobalt to scale our data and workflow solutions through targeted investments as part of our multi-year investment plan and to expand our private markets offering. The Cobalt purchase price was in excess of the fair value of net assets acquired, resulting in the recognition of goodwill. We finalized the purchase accounting for the Cobalt acquisition during the fourth quarter of fiscal 2022 and did not record any material changes to the preliminary purchase price allocation.

The acquisition date fair values of major classes of assets acquired and liabilities assumed are as follows:

Acquisition Date Fair Value

Acquisition Date Useful Life

Amortization Method

(in thousands)

(in years)

Current assets

540

Amortizable intangible assets

Software technology

7,750

5 years

Straight-line

Client relationships

4,800

11 years

Straight-line

Goodwill

41,338

Other assets

Current liabilities

(4,437)

Other liabilities

(7)

Total purchase price

50,018

Goodwill totaling $41.3 million represents the excess of the Cobalt purchase price over the fair value of net assets acquired and considers future economic benefits that we expect to achieve as a result of the acquisition. The goodwill is included in the Americas and EMEA segments and is not deductible for income tax purposes. The useful life assigned to Software technology considers our historical experience and anticipated technological changes. The useful life assigned to the Client relationships intangible asset considers the historical client retention as a basis for expected future retention.

The results of Cobalt's operations have been included in our Consolidated Financial Statements, within the Americas and EMEA segments, beginning with its acquisition on October 12, 2021. Pro forma information has not been presented because the effect of the Cobalt acquisition was not material to our Consolidated Financial Statements.

Truvalue Labs, Inc.

On November 2, 2020, we acquired all of the outstanding shares of TVL for a purchase price of $41.9 million, net of cash acquired. TVL is a leading provider of sustainability information. TVL applies artificial intelligence driven technology to over 100,000 unstructured text sources in multiple languages, including news, trade journals, and non-governmental organizations and industry reports, to provide daily signals that identify positive and negative sustainability behavior. We acquired TVL to further enhance our commitment to providing industry leading access to sustainability data across our platforms. The TVL purchase price was in excess of the fair value of net assets acquired, resulting in the recognition of goodwill. We finalized the purchase accounting for the TVL acquisition during the third quarter of fiscal 2021.

The acquisition date fair values of major classes of assets acquired and liabilities assumed are as follows:

Acquisition Date Fair Value

Acquisition Date Useful Life

Amortization Method

(in thousands)

(in years)

Current assets

812

Amortizable intangible assets

Software technology

8,100

7 years

Straight-line

Trade names

2,800

15 years

Straight-line

Client relationships

900

12 years

Straight-line

Goodwill

30,058

Other assets

5,299

Current liabilities

(3,069)

Other liabilities

(2,984)

Total purchase price

41,916

Goodwill totaling $30.1 million represents the excess of the TVL purchase price over the fair value of net assets acquired and considers future economic benefits that we expect to achieve as a result of the acquisition. The goodwill is included in the Americas segment and is not deductible for income tax purposes. The results of TVL's operations have been included in our Consolidated Financial Statements, within the Americas segment, beginning with its acquisition on November 2, 2020. Pro forma information has not been presented because the effect of the TVL acquisition is not material to our Consolidated Financial Statements.

STOCKHOLDERS’ EQUITY - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	May 31, 2023	Aug. 31, 2023	Jun. 20, 2023	Feb. 28, 2023	Nov. 30, 2022	Aug. 31, 2022	May 31, 2022	Feb. 28, 2022	Nov. 30, 2021	Aug. 31, 2021	May 31, 2021	Feb. 28, 2021	Nov. 30, 2020
Equity [Abstract]
Remaining authorized for future share repurchases		$ 4.5
Authorized repurchase amount			$ 300.0
Approved increase in regular quarterly dividend (as a percent)	10.00%
Regular quarterly dividend (in dollars per share)	$ 0.98	$ 0.98		$ 0.89	$ 0.89	$ 0.89	$ 0.89	$ 0.82	$ 0.82	$ 0.82	$ 0.82	$ 0.77	$ 0.77

INCOME TAXES - Components of the Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Current
U.S. federal	$ 38,625	$ 12,766	$ 26,734
U.S. state and local	38,600	10,936	13,894
Non-U.S.	69,675	31,690	32,001
Total current taxes	146,900	55,392	72,629
Deferred
U.S. federal	(17,235)	(4,722)	1,031
U.S. state and local	(5,652)	(874)	(1,064)
Non-U.S.	(8,232)	(3,119)	(4,569)
Total deferred taxes	(31,119)	(8,715)	(4,602)
Total provision for income taxes	$ 115,781	$ 46,677	$ 68,027

INTANGIBLE ASSETS

12 Months Ended

Aug. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

We amortize intangible assets on a straight-line basis over their estimated useful lives. The estimated useful life, gross carrying amounts and accumulated amortization totals related to our identifiable intangible assets are as follows:


		August 31, 2023						August 31, 2022
(in thousands, except useful lives)	Estimated Useful Life (years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
ABA business process	36	$	1,583,000	$	65,958	$	1,517,042	$	1,583,000	$	21,986	$	1,561,014
Client relationships	11 to 26	265,315		68,701		196,614		263,163		55,405		207,758
Developed technology	3 to 5	109,222		45,560		63,662		80,956		33,676		47,280
Acquired databases	15	46,000		4,600		41,400		46,000		1,533		44,467
Software technology	2 to 10	142,395		108,702		33,693		122,363		96,567		25,796
Data content	7 to 20	35,021		28,508		6,513		32,305		24,973		7,332
Non-compete agreements	4	290		12		278		—		—		—
Trade names	15	—		—		—		6,693		4,431		2,262
Total		$	2,181,243	$	322,041	$	1,859,202	$	2,134,480	$	238,571	$	1,895,909

The weighted average useful life of our intangible assets at August 31, 2023 was 32.6 years. As described in Note 6, Acquisitions, we acquired several intangible assets as part of the CGS acquisition. The weighted average useful life of our intangible assets at August 31, 2023, excluding those acquired from CGS, was 8.9 years.

During fiscal 2023 and 2022, we incurred impairment charges of $7.9 million related to impairment of Developed technology and Trade names and $2.1 million related to Developed technology, respectively, which is included in Asset impairments in the Consolidated Statements of Income. We did not identify a material change to the estimated remaining useful lives of our intangible assets during fiscal 2023 and 2022. The intangible assets have no assigned residual values.

Amortization expense recorded for intangible assets was $87.3 million, $62.4 million, and $31.5 million during fiscal 2023, 2022, and 2021, respectively.

As of August 31, 2023, estimated intangible asset amortization expense for each of the next five years and thereafter are as follows:


(in thousands)	Estimated Amortization Expense
Fiscal Years Ended August 31,
2024	$	91,788
2025	85,673
2026	79,453
2027	66,007
2028	63,462
Thereafter	1,472,819
Total	$	1,859,202

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	$ 2,776	$ 6,431	$ 7,987
Charged to Expense	6,668	1,324	918
Write-offs, Net of Recoveries	(1,675)	(4,979)	(2,474)
Balance at End of Year	$ 7,769	$ 2,776	$ 6,431

Schedule II - Valuation and Qualifying Accounts

12 Months Ended

Aug. 31, 2023

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Schedule II - Valuation and Qualifying Accounts

Schedule II – Valuation and Qualifying Accounts


(in thousands)
Description	Balance at Beginning of Year		Charged to Expense		Write-offs, Net of Recoveries		Balance at End of Year
Accounts Receivable Allowance:
2023	$	2,776	$	6,668	$	(1,675)	$	7,769
2022	$	6,431	$	1,324	$	(4,979)	$	2,776
2021	$	7,987	$	918	$	(2,474)	$	6,431

DERIVATIVE INSTRUMENTS - Gross Notional Values by Currency (Details) - Cash Flow Hedging - Designated as Hedging Instrument ₱ in Thousands, € in Thousands, ₨ in Thousands, £ in Thousands, $ in Thousands	Aug. 31, 2023 USD ($)	Aug. 31, 2023 GBP (£)	Aug. 31, 2023 EUR (€)	Aug. 31, 2023 INR (₨)	Aug. 31, 2023 PHP (₱)	Aug. 31, 2022 USD ($)	Aug. 31, 2022 GBP (£)	Aug. 31, 2022 EUR (€)	Aug. 31, 2022 INR (₨)	Aug. 31, 2022 PHP (₱)
Derivative [Line Items]
Notional contract amount	$ 372,644					$ 756,846
Foreign currency forward contracts
Derivative [Line Items]
Notional contract amount	172,644					156,846
British Pound Sterling
Derivative [Line Items]
Notional contract amount	56,098	£ 45,000				55,567	£ 44,200
Euro
Derivative [Line Items]
Notional contract amount	42,646		€ 39,000			40,679		€ 37,500
Indian Rupee
Derivative [Line Items]
Notional contract amount	40,300			₨ 3,363,150		33,600			₨ 2,667,928
Philippine Peso
Derivative [Line Items]
Notional contract amount	$ 33,600				₱ 1,888,541	$ 27,000				₱ 1,462,060

FAIR VALUE MEASURES

12 Months Ended

Aug. 31, 2023

Fair Value Disclosures [Abstract]

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 are permissible. The inputs to these methodologies consider market comparable information, taking into account the principal or most advantageous market in which we would transact, 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 input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement requires judgment and may affect its placement within the fair value hierarchy levels. We have categorized our cash equivalents, investments and derivatives within the fair value hierarchy as follows:

Level 1 – applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

Level 2 – 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.

Level 3 – 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.

(a) Assets and Liabilities Measured at Fair Value on a Recurring Basis


(in thousands)	Fair Value Measurements at August 31, 2023
	Level 1		Level 2		Level 3		Total
Assets
Money market funds(1)	$	137,125	$	—	$	—	$	137,125
Mutual funds(2)	—		32,210		—		32,210

Derivative instruments(3)	—		4,383		—		4,383
Total assets measured at fair value	$	137,125	$	36,593	$	—	$	173,718

Liabilities
Derivative instruments(3)	$	—	$	608	$	—	$	608
Contingent liability(4)	—		—		8,008		8,008
Total liabilities measured at fair value	$	—	$	608	$	8,008	$	8,616


(in thousands)	Fair Value Measurements at August 31, 2022
	Level 1		Level 2		Level 3		Total
Assets
Money market funds(1)	$	179,330	$	—	$	—	$	179,330
Mutual funds(2)	—		33,219		—		33,219

Derivative instruments(3)	—		12,412		—		12,412
Total assets measured at fair value	$	179,330	$	45,631	$	—	$	224,961

Liabilities
Derivative instruments(3)	$	—	$	8,307	$	—	$	8,307
Total liabilities measured at fair value	$	—	$	8,307	$	—	$	8,307

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

Assets that are measured at fair value on a non-recurring basis primarily relate to our tangible fixed assets, lease ROU assets, goodwill and intangible assets. The fair values of these non-financial assets are determined based on valuation techniques using the best information available, and may include quoted market prices, market comparable information, and discounted cash flow projections. These non-financial assets are required to be assessed for impairment whenever events or circumstances indicate their carrying value may not be fully recoverable, and at least annually for goodwill.

Asset impairments in the Consolidated Statements of Income were $25.9 million and $64.3 million during fiscal 2023 and 2022, respectively, to reflect the difference between the fair market value and carrying value of certain assets. These impairments were mainly driven by an $18.0 million and $62.2 million charge during fiscal 2023 and 2022, respectively, related to our lease ROU assets and PPE. These charges were associated with vacating certain leased office space to resize our real estate footprint for the hybrid work environment. For those locations we anticipated subleasing, we estimated the fair value of the lease ROU assets as of the cease use date, using a market approach, based on expected future cash flows from sublease income. To complete this assessment we relied on certain assumptions, which included estimates of the rental rate, period of vacancy, incentives and annual rent increases.

As there were no expected future cash flows associated with lease ROU assets for locations we will not sublease nor PPE associated with the related vacated leased office space, we determined these assets had no remaining fair value and were fully impaired. Due to the subjective nature of the unobservable inputs used, the fair value measurement for the asset impairments are classified within Level 3 of the fair value hierarchy.

The remaining asset impairments for fiscal 2023 and 2022 were $7.9 million related to impairment of Developed technology and Trade names and $2.1 million related to Developed technology, respectively.

We elected not to carry our Long-term debt on the Consolidated Balance Sheets at fair value. The carrying value of our Long-term debt is net of related unamortized discounts and debt issuance costs.

Our Senior Notes are publicly traded; therefore, the fair value of our Senior Notes is estimated based on quoted prices in active markets as of the reporting date, which are considered Level 1 inputs. The fair value of our 2022 Credit Facilities is estimated based on quoted market prices for similar instruments, adjusted for unobservable inputs to ensure comparability to our investment rating, maturity terms and principal outstanding, which are considered Level 3 inputs. Refer to Note 12, Debt for definitions of these terms and more information on the Senior Notes and 2022 Credit Facilities.

The following table summarizes information on our outstanding debt as of August 31, 2023 and 2022:


		August 31, 2023				August 31, 2022
(in thousands)	Fair Value Hierarchy	Principal Amount		Estimated Fair Value		Principal Amount		Estimated Fair Value
2027 Notes	Level 1	$	500,000	$	460,890	$	500,000	$	470,525
2032 Notes	Level 1	500,000		423,700		500,000		438,205
2022 Term Facility	Level 3	375,000		376,406		750,000		750,975
2022 Revolving Facility	Level 3	250,000		246,875		250,000		249,075
Total principal amount		$	1,625,000	$	1,507,871	$	2,000,000	$	1,908,780
Total unamortized discounts and debt issuance costs		(12,300)				(17,576)
Total net carrying value of debt		$	1,612,700			$	1,982,424

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Audit Information	12 Months Ended
Audit Information	Aug. 31, 2023
Audit Information [Abstract]
Auditor Firm ID	42
Auditor Name	Ernst & Young LLP
Auditor Location	Stamford, CT

STOCKHOLDERS’ EQUITY

12 Months Ended

Aug. 31, 2023

Equity [Abstract]

STOCKHOLDERS’ EQUITY

Share Repurchases


(in thousands, except share data)	Years ended August 31,
	2023		2022		2021
Repurchases of common stock under the share repurchase program(1)	430,350		46,200		797,385
Total cost of shares repurchased(1)(2)	$	176,720	$	18,639	$	264,702

(1) Amounts do not include the fiscal 2023, 2022 and 2021 repurchases of 32,444 shares ($13.7 million), 14,489 shares ($6.2 million) and 12,932 shares ($4.3 million) of common stock, respectively, primarily to satisfy tax withholding obligations due upon the vesting of stock-based awards.

(2) For fiscal 2023, amount excludes a 1% excise tax of $0.9 million on corporate stock repurchases required under the IRA for publicly traded U.S. corporations after December 31, 2022.

We may repurchase shares of our common stock under our share repurchase program from time-to-time in the open market and via privately negotiated transactions, subject to market conditions. We suspended our share repurchase program beginning in the second quarter of fiscal 2022, with the exception of potential minor repurchases to offset dilution from grants of equity awards or repurchases to satisfy withholding tax obligations due upon the vesting of stock-based awards, to prioritize the repayment of debt under the 2022 Credit Facilities. We resumed our share repurchase program in the third quarter of fiscal 2023.

There is no defined number of shares to be repurchased over a specified timeframe through the life of our share repurchase program. As of August 31, 2023, we had $4.5 million authorized under our share repurchase program for future share repurchases, which was not available for use after August 31, 2023. On June 20, 2023, our Board of Directors authorized up to $300.0 million for share repurchases on or after September 1, 2023.

Equity-based Awards

Refer to Note 16, Stock-Based Compensation for more information on equity awards issued during fiscal 2021 through fiscal 2023.

Dividends

Our Board of Directors approved the following dividends:


Year Ended	Dividends per Share of Common Stock		Record Date	Total Amount (in thousands)		Payment Date
Fiscal 2023
First Quarter	$	0.89	November 30, 2022	$	34,010	December 15, 2022
Second Quarter	$	0.89	February 28, 2023	34,099		March 16, 2023
Third Quarter	$	0.98	May 31, 2023	37,442		June 15, 2023
Fourth Quarter	$	0.98	August 31, 2023	37,265		September 21, 2023
Total Dividends				$	142,816

Fiscal 2022
First Quarter	$	0.82	November 30, 2021	$	30,973	December 16, 2021
Second Quarter	$	0.82	February 28, 2022	31,065		March 17, 2022
Third Quarter	$	0.89	May 31, 2022	33,795		June 16, 2022
Fourth Quarter	$	0.89	August 31, 2022	33,860		September 15, 2022
Total Dividends				$	129,693

Fiscal 2021
First Quarter	$	0.77	November 30, 2020	29,266		December 17, 2020
Second Quarter	$	0.77	February 26, 2021	29,141		March 18, 2021
Third Quarter	$	0.82	May 31, 2021	30,972		June 17, 2021
Fourth Quarter	$	0.82	August 31, 2021	30,845		September 16, 2021
Total Dividends				$	120,224

In the third quarter of fiscal 2023, our Board of Directors approved a 10% increase in the regular quarterly dividend from $0.89 to $0.98 per share. Future cash dividend payments will depend on our earnings, capital requirements, financial condition and other factors considered relevant by us and are subject to final determination by our Board of Directors.

Accumulated Other Comprehensive Loss

The components of AOCL are as follows:


(in thousands)	August 31, 2023		August 31, 2022
Accumulated unrealized gains (losses) on cash flow hedges, net of tax	$	2,880	$	3,149
Accumulated foreign currency translation adjustments	(90,021)		(111,532)
Total AOCL	$	(87,141)	$	(108,383)

- Definition

The entire disclosure for equity.

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+ Details

ACQUISITIONS (Tables)

12 Months Ended

Aug. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Acquisition Date Fair Values of Major Classes of Assets Acquired and Liabilities Assumed

The acquisition date fair values of major classes of assets acquired and liabilities assumed are as follows:

Acquisition Date Fair Value

Acquisition Date Useful Life

Amortization Method

(in thousands)

(in years)

Current assets(1)

29,728

Amortizable intangible assets

ABA business process

1,583,000

36 years

Straight-line

Client relationships

164,000

26 years

Straight-line

Acquired databases

46,000

15 years

Straight-line

Goodwill

214,970

Current liabilities(2)

(104,691)

Deferred revenues, long-term

(1,481)

Total purchase price

1,931,526

(1) Included an accounts receivable balance of $29.5 million.

The acquisition date fair values of major classes of assets acquired and liabilities assumed are as follows:

Acquisition Date Fair Value

Acquisition Date Useful Life

Amortization Method

(in thousands)

(in years)

Current assets

540

Amortizable intangible assets

Software technology

7,750

5 years

Straight-line

Client relationships

4,800

11 years

Straight-line

Goodwill

41,338

Other assets

Current liabilities

(4,437)

Other liabilities

(7)

Total purchase price

50,018

The acquisition date fair values of major classes of assets acquired and liabilities assumed are as follows:

Acquisition Date Fair Value

Acquisition Date Useful Life

Amortization Method

(in thousands)

(in years)

Current assets

812

Amortizable intangible assets

Software technology

8,100

7 years

Straight-line

Trade names

2,800

15 years

Straight-line

Client relationships

900

12 years

Straight-line

Goodwill

30,058

Other assets

5,299

Current liabilities

(3,069)

Other liabilities

(2,984)

Total purchase price

41,916

DEBT - Interest Expense (Details) - USD ($) $ in Thousands	12 Months Ended
DEBT - Interest Expense (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Debt Disclosure [Abstract]
Interest expense on outstanding debt	$ 66,283	$ 35,152	$ 8,066

STOCK-BASED COMPENSATION - Narrative (Details) - USD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021	Aug. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 62,038,000	$ 56,003,000	$ 45,065,000
Unrecognized compensation expense	$ 114,500,000
Weighted average period for recognition	2 years 10 months 24 days
Stock-based compensation capitalized	$ 0	$ 0
Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant (in shares)	4,226,000	4,669,000	5,080,000	5,626,000
Non-employee directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant (in shares)	223,000	232,000	238,000	250,000
RSUs \| Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	20.00%
Award vesting period	5 years
Shares purchased (in shares)	158,000	180,000	157,000
RSUs \| Non-employee directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares purchased (in shares)	4,000	4,000	0
PSUs \| Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares purchased (in shares)	86,000	77,000	91,000
PSUs \| Employee \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout percentage	0.00%
PSUs \| Employee \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout percentage	150.00%
PSUs \| Non-employee directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares purchased (in shares)	0	0	0
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period for recognition	3 years 1 month 6 days
Stock options \| Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	20.00%
Award vesting period	5 years
Shares purchased (in shares)	268,000	348,000	418,000
Stock options \| Non-employee directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares purchased (in shares)	5,000	6,000	12,000
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 2,700,000	$ 2,300,000	$ 2,000,000.0
Purchase period	3 months
Purchase price (as a percent)	85.00%
Percentage of purchases which may not exceed gross compensation	10.00%
Contribution limit	$ 25,000
Restriction period	18 months
Shares purchased (in shares)	39,873	36,244	38,848
Weighted average price (in dollars per share)	$ 348.55	$ 332.30	$ 273.59
Number of shares reserved for future issuance	62,839
Weighted average estimated fair value (in dollars per share)	$ 71.74	$ 66.35	$ 54.00

GOODWILL (Tables)

12 Months Ended

Aug. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in the Carrying Amount of Goodwill by Segment

Changes in the carrying amount of goodwill by segment for the years ended August 31, 2023 and 2022 are as follows:


(in thousands)	Americas		EMEA		Asia Pacific		Total
Balance at August 31, 2021	$	430,088	$	321,150	$	2,967	$	754,205
Acquisitions	256,324		428		—		256,752
Foreign currency translations	—		(44,491)		(618)		(45,109)
Balance at August 31, 2022	$	686,412	$	277,087	$	2,349	$	965,848
Acquisitions	18,347		—		—		18,347
Foreign currency translations	—		20,647		(106)		20,541
Balance at August 31, 2023	$	704,759	$	297,734	$	2,243	$	1,004,736

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

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+ Details

STOCKHOLDERS’ EQUITY - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021	Aug. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total AOCL	$ 1,619,930	$ 1,331,408	$ 1,016,353	$ 896,375
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total AOCL	(87,141)	(108,383)	$ (38,962)	$ (39,293)
Accumulated unrealized gains (losses) on cash flow hedges, net of tax
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total AOCL	2,880	3,149
Accumulated foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total AOCL	$ (90,021)	$ (111,532)

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

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+ Details

DEBT (Tables)

12 Months Ended

Aug. 31, 2023

Debt Disclosure [Abstract]

Schedule of Debt Obligations

Our total debt obligations as of August 31, 2023 and August 31, 2022 consisted of the following:


(in thousands)	Issuance Date	Contractual Maturity Date	August 31, 2023		August 31, 2022
2022 Credit Agreement
2022 Term Facility	3/1/2022	3/1/2025	$	375,000	$	750,000
2022 Revolving Facility	3/1/2022	3/1/2027	250,000		250,000

Senior Notes
2027 Notes	3/1/2022	3/1/2027	500,000		500,000
2032 Notes	3/1/2022	3/1/2032	500,000		500,000

Total unamortized discounts and debt issuance costs			(12,300)		(17,576)

Total Long-term debt			$	1,612,700	$	1,982,424

Schedule of Annual Maturities of Debt Obligations

As of August 31, 2023, annual maturities on our total debt obligations, based on contract maturity, were as follows:


(in thousands)	Maturities
Years Ended August 31,
2024	$	—
2025	375,000
2026	—
2027	750,000
2028	—
Thereafter	500,000
Total	$	1,625,000

Schedule of Interest Expense

The following table presents the interest expense on our outstanding debt which is included in Interest expense in our Consolidated Statements of Income:


	Years Ended August 31,
(in thousands)	2023		2022		2021
Interest expense on outstanding debt(1)	$	66,283	$	35,152	$	8,066

(1) Interest expense on our outstanding debt includes the related amortization of debt issuance costs and debt discounts, net of the effects of the related interest rate swap agreements.

DESCRIPTION OF BUSINESS	12 Months Ended
DESCRIPTION OF BUSINESS	Aug. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS	DESCRIPTION OF BUSINESS FactSet Research Systems Inc. and its wholly-owned subsidiaries (collectively, "we," "our," "us," the "Company" or "FactSet") is a global financial digital platform and enterprise solutions provider with open and flexible products that drive the investment community to see more, think bigger and do its best work. Our platform delivers expansive data, sophisticated analytics, and flexible technology used by global financial professionals to power their critical investment workflows. As of August 31, 2023, we had nearly 8,000 clients comprised of almost 190,000 investment professionals, including asset managers, bankers, wealth managers, asset owners, partners, hedge funds, corporate users and private equity & venture capital professionals. Our revenues are primarily derived from subscriptions to our multi-asset class data and solutions powered by our connected content, referred to as our "content refinery." Our products and services include workstations, portfolio analytics and enterprise solutions. We drive our business based on our detailed understanding of our clients’ workflows, which helps us to solve their most complex challenges. We provide financial data and market intelligence on securities, companies, industries and people to enable our clients to research investment ideas, as well as to analyze, monitor and manage their portfolios. Our on- and off-platform solutions span the investment life cycle of investment research, portfolio construction and analysis, trade execution, performance measurement, risk management and reporting. We provide open and flexible technology offerings, including a configurable desktop and mobile platform, comprehensive data feeds, cloud-based digital solutions and application programming interfaces ("APIs"). Our CUSIP Global Services ("CGS") business supports security master files relied on by the investment industry for critical front, middle and back-office functions. Our platform and solutions are supported by our dedicated client service teams. We operate our business through three reportable segments ("segments"): the Americas, EMEA and Asia Pacific. Refer to Note 18, Segment Information, for further discussion. For each of our segments, we execute our strategy through three workflow solutions: Research & Advisory; Analytics & Trading; and Content & Technology Solutions ("CTS"). CGS operates as part of CTS. Revised Organizational Approach We have a long-term view of our business and are committed to investing for growth and efficiency. Starting September 1, 2023, the beginning of our fiscal 2024 year, we revised our internal organization by firm type to better align with our clients, as follows: •Analytics & Trading will become "Institutional Buyside," focusing on asset managers, asset owners, and hedge fund companies. •Research & Advisory will become two groups: ◦"Dealmakers," focusing on banking and sell-side research, corporate, and private equity and venture capital workflows; and ◦"Wealth," focusing on wealth management workflows. •We will discuss the results of our Partnerships and CGS groups, in combination. Partnerships delivers solutions primarily to content providers, financial exchanges, and rating agencies, while CGS is the exclusive issuer of CUSIP and CINS identifiers globally. •The activities of CTS will be reassigned to Institutional Buyside, Dealmakers, Wealth, and Partnerships and CGS. This realignment of firm types is not expected to impact our segment reporting for fiscal 2024.

DERIVATIVE INSTRUMENTS

12 Months Ended

Aug. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVE INSTRUMENTS

Cash Flow Hedges

In designing our hedging approach, we consider several factors, including offsetting exposures, the significance of exposures, the forecasting of risk and the potential effectiveness of the hedge to reduce the volatility of our earnings and cash flows. Factors considered in the decision to hedge an underlying market exposure include the materiality of the risk, the volatility of the market, the duration of the hedge, the degree to which the underlying exposure is committed, and the availability, effectiveness and cost of derivative instruments. Derivative instruments are only utilized for risk management purposes and are not used for speculative or trading purposes. We limit counterparties to financial institutions we believe are credit-worthy. Refer to Note 2, Summary of Significant Accounting Policies - Concentrations of Credit Risk, for further discussion on counterparty credit risk.

We leverage foreign currency forward contracts and interest rate swaps to mitigate certain operational exposures from the impact of changes in foreign currency exchange rates and to manage our interest rate exposure. For a derivative that was designated and qualified as a cash flow hedge, the effective portion of the change in fair value of the derivative is recorded in AOCL, net of tax, in the Consolidated Balance Sheets. Realized gains or losses resulting from settlement of our foreign currency forward contracts and swap agreements are subsequently reclassified into SG&A and Interest expense, respectively, in the Consolidated Statements of Income when the hedges are settled. All of our derivatives qualified and were designated as cash flow hedges, and none of our derivatives were deemed ineffective for fiscal 2023 and 2022.

Foreign Currency Forward Contracts

As we operate globally, we are exposed to the risk that our financial condition, results of operations and cash flows could be impacted by changes in foreign currency exchange rates. As of August 31, 2023, we maintained a series of foreign currency forward contracts to hedge a portion of our primary currency exposures of the Indian Rupee, Euro, British Pound Sterling and Philippine Peso. To mitigate our currency exposure, we entered into these contracts to hedge between 25% to 75% of our projected primary currency operating expenses over their respective hedge periods which range from the first quarter of fiscal 2024 through the fourth quarter of fiscal 2024.

The following table summarizes the gross notional value of our foreign currency forward contracts to purchase the respective local currency with U.S. dollars:


	August 31, 2023				August 31, 2022
(in thousands)	Local Currency		USD		Local Currency		USD
British Pound Sterling	£	45,000	$	56,098	£	44,200	$	55,567
Euro	€	39,000	42,646		€	37,500	40,679
Indian Rupee	Rs	3,363,150	40,300		Rs	2,667,928	33,600
Philippine Peso	₱	1,888,541	33,600		₱	1,462,060	27,000
Total			$	172,644			$	156,846

There was no discontinuance of our foreign currency cash flow hedges during fiscal 2023 and 2022, as such, no corresponding gains or losses related to changes in the value of our contracts were reclassified into earnings prior to settlement. Refer to Part II, Item 7A. Quantitative and Qualitative Disclosures About Market Risk, of this Annual Report on Form 10-K for further discussion of our exposure to foreign exchange rate fluctuations.

Interest Rate Swap Agreements

2022 Swap Agreement

On March 1, 2022, we entered into an interest rate swap agreement ("2022 Swap Agreement") with a notional amount of $800.0 million to hedge a portion of our outstanding floating Secured Overnight Financing Rate ("SOFR") rate debt with a fixed interest rate of 1.162%. The notional amount of the 2022 Swap Agreement declines by $100.0 million on a quarterly basis beginning May 31, 2022 and is maturing on February 28, 2024. Effective December 30, 2022, we partially novated our 2022 Swap Agreement to equally apportion the then outstanding notional amount of the interest rate swap between two counterparties. No other terms of the 2022 Swap Agreement were amended, terminated, or otherwise modified. As of August 31, 2023, the notional amount of the 2022 Swap Agreement was $200.0 million.

Refer to Note 12, Debt, for further discussion of our outstanding floating SOFR rate debt and refer to Part II, Item 7A. Quantitative and Qualitative Disclosures About Market Risk, of this Annual Report on Form 10-K for further discussion of our exposure to interest rate risk on our long-term debt outstanding.

2020 Swap Agreement

On March 5, 2020, we entered into an interest rate swap agreement ("2020 Swap Agreement") with a notional amount of $287.5 million. The 2020 Swap Agreement hedged a portion of our then outstanding floating London Interbank Offer Rate ("LIBOR") rate debt with a fixed interest rate of 0.7995% to mitigate our interest rate exposure. On March 1, 2022, we terminated the 2020 Swap Agreement, which resulted in a one-time benefit of $3.5 million recognized in Interest expense in the Consolidated Statements of Income during the third quarter of fiscal 2022, based on its fair market value.

Gross Notional Value and Fair Value of Derivative Instruments

The following is a summary of the gross notional values of our derivative instruments:


(in thousands)	Gross Notional Value
	August 31, 2023		August 31, 2022
Foreign currency forward contracts	$	172,644	$	156,846
Interest rate swap agreement	200,000		600,000
Total cash flow hedges	$	372,644	$	756,846

The following is a summary of the fair values of our derivative instruments:


	Fair Value of Derivative Instruments
(in thousands)	Derivative Assets					Derivative Liabilities
Derivatives designated as hedging instruments	Balance Sheet Classification	August 31, 2023		August 31, 2022		Balance Sheet Classification	August 31, 2023		August 31, 2022
Foreign currency forward contracts	Prepaid expenses and other current assets	$	1,260	$	—	Accounts payable and accrued expenses	$	608	$	8,307
Interest rate swap agreement	Prepaid expenses and other current assets	3,123		10,621		Accounts payable and accrued expenses	—		—
	Other assets	—		1,791		Other liabilities	—		—
Total cash flow hedges		$	4,383	$	12,412		$	608	$	8,307

Derivative Recognition

The following table provides the pre-tax effect of derivative instruments in cash flow hedging relationships for the years ended August 31, 2023, 2022 and 2021:


(in thousands)	Gain (Loss) Recognized in AOCL on Derivatives						Location of Gain (Loss) Reclassified from AOCL into Income	Gain (Loss) Reclassified from AOCL into Income
Derivatives in Cash Flow Hedging Relationships	2023		2022		2021		Location of Gain (Loss) Reclassified from AOCL into Income	2023		2022		2021
Foreign currency forward contracts	$	5,783	$	(16,356)	$	1,660	SG&A	$	(3,176)	$	(7,867)	$	5,027
Interest rate swap agreement	4,368		17,245		745		Interest expense	13,657		1,854		(1,956)
Total cash flow hedges	$	10,151	$	889	$	2,405		$	10,481	$	(6,013)	$	3,071

As of August 31, 2023, we estimate that net pre-tax derivative gains of $3.8 million included in AOCL will be reclassified into earnings within the next 12 months. As of August 31, 2023, our cash flow hedges were highly effective with no amount of ineffectiveness recorded in the Consolidated Statements of Income. All components of each derivative’s gain or loss were included in the assessment of hedge effectiveness.

Offsetting of Derivative Instruments

We enter into master netting arrangements designed to permit net settlement of derivative transactions among the respective counterparties, settled on the same date and in the same currency. As of August 31, 2023 and 2022, there were no material amounts recorded net on the Consolidated Balance Sheets.

DERIVATIVE INSTRUMENTS (Tables)

12 Months Ended

Aug. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Gross Notional Values of Derivative Instruments

The following table summarizes the gross notional value of our foreign currency forward contracts to purchase the respective local currency with U.S. dollars:


	August 31, 2023				August 31, 2022
(in thousands)	Local Currency		USD		Local Currency		USD
British Pound Sterling	£	45,000	$	56,098	£	44,200	$	55,567
Euro	€	39,000	42,646		€	37,500	40,679
Indian Rupee	Rs	3,363,150	40,300		Rs	2,667,928	33,600
Philippine Peso	₱	1,888,541	33,600		₱	1,462,060	27,000
Total			$	172,644			$	156,846

The following is a summary of the gross notional values of our derivative instruments:


(in thousands)	Gross Notional Value
	August 31, 2023		August 31, 2022
Foreign currency forward contracts	$	172,644	$	156,846
Interest rate swap agreement	200,000		600,000
Total cash flow hedges	$	372,644	$	756,846

Summary of the Fair Values of Derivative Instruments

The following is a summary of the fair values of our derivative instruments:


	Fair Value of Derivative Instruments
(in thousands)	Derivative Assets					Derivative Liabilities
Derivatives designated as hedging instruments	Balance Sheet Classification	August 31, 2023		August 31, 2022		Balance Sheet Classification	August 31, 2023		August 31, 2022
Foreign currency forward contracts	Prepaid expenses and other current assets	$	1,260	$	—	Accounts payable and accrued expenses	$	608	$	8,307
Interest rate swap agreement	Prepaid expenses and other current assets	3,123		10,621		Accounts payable and accrued expenses	—		—
	Other assets	—		1,791		Other liabilities	—		—
Total cash flow hedges		$	4,383	$	12,412		$	608	$	8,307

Schedule of Derivative Recognition

The following table provides the pre-tax effect of derivative instruments in cash flow hedging relationships for the years ended August 31, 2023, 2022 and 2021:


(in thousands)	Gain (Loss) Recognized in AOCL on Derivatives						Location of Gain (Loss) Reclassified from AOCL into Income	Gain (Loss) Reclassified from AOCL into Income
Derivatives in Cash Flow Hedging Relationships	2023		2022		2021		Location of Gain (Loss) Reclassified from AOCL into Income	2023		2022		2021
Foreign currency forward contracts	$	5,783	$	(16,356)	$	1,660	SG&A	$	(3,176)	$	(7,867)	$	5,027
Interest rate swap agreement	4,368		17,245		745		Interest expense	13,657		1,854		(1,956)
Total cash flow hedges	$	10,151	$	889	$	2,405		$	10,481	$	(6,013)	$	3,071

EMPLOYEE BENEFIT PLANS (Details) - USD ($) $ in Millions	12 Months Ended
EMPLOYEE BENEFIT PLANS (Details) - USD ($) $ in Millions	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Retirement Benefits [Abstract]
Participant contribution (up to) (as a percent)	60.00%
Company match (up to) (as a percent)	4.00%
Graduated vesting schedule (term)	5 years
Company contributions	$ 16.6	$ 12.0	$ 11.6

SEGMENT INFORMATION - Total Assets (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 3,962,922	$ 4,014,305
Americas
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	3,148,192	3,191,313
EMEA
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	558,393	580,450
Asia Pacific
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 256,337	$ 242,542

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

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+ Details

ACQUISITIONS - Fair values of assets acquired and liabilities assumed (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022	Mar. 01, 2022	Oct. 12, 2021	Aug. 31, 2021	Nov. 02, 2020
Business Acquisition [Line Items]
Goodwill	$ 1,004,736	$ 965,848			$ 754,205
ABA business process
Business Acquisition [Line Items]
Estimated Useful Life (years)	36 years
Trade names
Business Acquisition [Line Items]
Estimated Useful Life (years)	15 years
Acquired databases
Business Acquisition [Line Items]
Estimated Useful Life (years)	15 years
CUSIP Global Services
Business Acquisition [Line Items]
Current assets			$ 29,728
Goodwill			214,970
Current liabilities			(104,691)
Deferred revenues, long-term			(1,481)
Total purchase price			1,931,526
Accounts receivable			29,500
Deferred revenues			99,400
CUSIP Global Services \| ABA business process
Business Acquisition [Line Items]
Amortizable intangible assets			$ 1,583,000
Estimated Useful Life (years)			36 years
CUSIP Global Services \| Client relationships
Business Acquisition [Line Items]
Amortizable intangible assets			$ 164,000
Estimated Useful Life (years)			26 years
CUSIP Global Services \| Acquired databases
Business Acquisition [Line Items]
Amortizable intangible assets			$ 46,000
Estimated Useful Life (years)			15 years
Cobalt Software, Inc.
Business Acquisition [Line Items]
Current assets				$ 540
Goodwill				41,338
Other assets				34
Current liabilities				(4,437)
Other liabilities				(7)
Total purchase price				50,018
Cobalt Software, Inc. \| Software technology
Business Acquisition [Line Items]
Amortizable intangible assets				$ 7,750
Estimated Useful Life (years)				5 years
Cobalt Software, Inc. \| Client relationships
Business Acquisition [Line Items]
Amortizable intangible assets				$ 4,800
Estimated Useful Life (years)				11 years
Truvalue Labs, Inc.
Business Acquisition [Line Items]
Current assets						$ 812
Goodwill						30,058
Other assets						5,299
Current liabilities						(3,069)
Other liabilities						(2,984)
Total purchase price						41,916
Truvalue Labs, Inc. \| Software technology
Business Acquisition [Line Items]
Amortizable intangible assets						$ 8,100
Estimated Useful Life (years)						7 years
Truvalue Labs, Inc. \| Trade names
Business Acquisition [Line Items]
Amortizable intangible assets						$ 2,800
Estimated Useful Life (years)						15 years
Truvalue Labs, Inc. \| Client relationships
Business Acquisition [Line Items]
Amortizable intangible assets						$ 900
Estimated Useful Life (years)						12 years

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Pay vs Performance Disclosure
Net income	$ 468,173	$ 396,917	$ 399,590

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

SEGMENT INFORMATION - Results of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 2,085,508	$ 1,843,892	$ 1,591,445
Operating income	629,207	475,482	474,041
Depreciation and amortization	105,384	86,683	64,476
Stock-based compensation	62,038	56,003	45,065
Capital expenditures	60,786	51,156	61,325
Amortization expense	87,300	62,400	31,500
Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	1,335,484	1,173,946	1,008,046
Operating income	239,438	159,140	218,180
Depreciation and amortization	89,602	64,916	39,415
Stock-based compensation	51,574	45,319	35,113
Capital expenditures	54,609	44,114	38,146
Amortization expense	53,700	26,800
EMEA
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	539,843	484,279	427,700
Operating income	243,028	196,231	159,704
Depreciation and amortization	7,305	11,794	14,847
Stock-based compensation	7,280	8,271	8,401
Capital expenditures	2,317	1,427	1,424
Asia Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	210,181	185,667	155,699
Operating income	146,741	120,111	96,157
Depreciation and amortization	8,477	9,973	10,214
Stock-based compensation	3,184	2,413	1,551
Capital expenditures	$ 3,860	$ 5,615	$ 21,755

INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Weighted average useful life	32 years 7 months 6 days
Impairment charges, intangible assets	$ 7,920	$ 2,067
Impairment charges, intangible assets, location	Asset impairments	Asset impairments
Amortization expense	$ 87,300	$ 62,400	$ 31,500
Acquisitions excluding CGS
Finite-Lived Intangible Assets [Line Items]
Weighted average useful life	8 years 10 months 24 days

SEGMENT INFORMATION

12 Months Ended

Aug. 31, 2023

Segment Reporting [Abstract]

SEGMENT INFORMATION

Operating segments are defined as components of an enterprise that have the following characteristics: (i) they engage in business activities from which they may earn revenue and incur expense, (ii) their operating results are regularly reviewed by the chief operating decision maker ("CODM") for resource allocation decisions and performance assessment, and (iii) their discrete financial information is available. Our Chief Executive Officer functions as our CODM.

We have three operating segments: Americas, EMEA and Asia Pacific. This is how we and our CODM manage our business and the geographic markets in which we operate. These operating segments are consistent with our reportable segments.

The Americas segment serves our clients throughout North, Central, and South America. The EMEA segment serves our clients in Europe, the Middle East, and Africa. The Asia Pacific segment serves our clients in Asia and Australasia. Segment revenues reflect sales to our clients based on their respective geographic locations.

Each segment records expenses related to its individual operations, with the exception of expenditures associated with our data centers, third-party data costs and corporate headquarters charges, which are recorded by the Americas segment and are not allocated to the other segments. The expenses incurred at our content collection centers, located in India, the Philippines and Latvia, are allocated to each segment based on their respective percentage of revenues as this reflects the benefits provided to each segment.

The following tables reflect the results of operations of our segments:


(in thousands)
Year Ended August 31, 2023	Americas		EMEA		Asia Pacific		Total
Revenues	$	1,335,484	$	539,843	$	210,181	$	2,085,508
Operating income(1)	$	239,438	$	243,028	$	146,741	$	629,207
Depreciation and amortization(2)	$	89,602	$	7,305	$	8,477	$	105,384
Stock-based compensation	$	51,574	$	7,280	$	3,184	$	62,038
Capital expenditures(3)	$	54,609	$	2,317	$	3,860	$	60,786


Year Ended August 31, 2022	Americas		EMEA		Asia Pacific		Total
Revenues	$	1,173,946	$	484,279	$	185,667	$	1,843,892
Operating income(1)	$	159,140	$	196,231	$	120,111	$	475,482
Depreciation and amortization(2)	$	64,916	$	11,794	$	9,973	$	86,683
Stock-based compensation	$	45,319	$	8,271	$	2,413	$	56,003
Capital expenditures(3)	$	44,114	$	1,427	$	5,615	$	51,156


Year Ended August 31, 2021	Americas		EMEA		Asia Pacific		Total
Revenues	$	1,008,046	$	427,700	$	155,699	$	1,591,445
Operating income(1)	$	218,180	$	159,704	$	96,157	$	474,041
Depreciation and amortization	$	39,415	$	14,847	$	10,214	$	64,476
Stock-based compensation	$	35,113	$	8,401	$	1,551	$	45,065
Capital expenditures(3)	$	38,146	$	1,424	$	21,755	$	61,325

(1)Includes asset impairment charges further disclosed in the Segment Asset Impairments section below.

(2)The Americas includes CGS intangible asset amortization of $53.7 million and $26.8 million during fiscal 2023 and 2022, respectively.

(3)Capital expenditures includes purchases of PPE and capitalized internal-use software.

Segment Asset Impairments

The following table reflects asset impairments by segment for each fiscal year in which impairment charges were incurred:


(in thousands)
Year Ended August 31, 2023	Americas		EMEA		Asia Pacific		Total
Lease ROU assets and PPE(1)	$	11,017	$	7,009	$	—	$	18,026
Intangible assets(2)	7,920		—		—		7,920
Total asset impairments	$	18,937	$	7,009	$	—	$	25,946


Year Ended August 31, 2022	Americas		EMEA		Asia Pacific		Total
Lease ROU assets and PPE(1)	$	57,647	$	4,237	$	321	$	62,205
Intangible assets(2)	2,067		—		—		2,067
Total asset impairments	$	59,714	$	4,237	$	321	$	64,272

(1)Asset impairments of our lease ROU assets and related PPE associated with vacating certain leased office space to resize our real estate footprint for the hybrid work environment. See Note 4, Fair Value Measures, Note 7, Property, Equipment and Leasehold Improvements and Note 11, Leases for additional information.

(2)Asset impairments related to Trade names and Developed technology for fiscal 2023 and Developed technology for fiscal 2022.

Segment Total Assets

The following table reflects the total assets for our segments:


	As of August 31,
(in thousands)	2023		2022
Segment Assets
Americas	$	3,148,192	$	3,191,313
EMEA	558,393		580,450
Asia Pacific	256,337		242,542
Total assets	$	3,962,922	$	4,014,305

Geographic Information

The following tables reflect our revenues and long-lived assets, split geographically by our country of domicile (the United States) and other countries where major subsidiaries are domiciled.

Geographic Revenues

The following table sets forth revenues by geography, attributed to countries based on the location of the client:


(in thousands)	Years ended August 31,
	2023		2022		2021
Revenues
United States	$	1,265,002	$	1,106,602	$	952,423
United Kingdom	223,809		215,369		190,044
Other European Countries	316,034		268,910		237,656
All Other Countries	280,663		253,011		211,322
Total revenues	$	2,085,508	$	1,843,892	$	1,591,445

Geographic Long-Lived Assets

The following table sets forth long-lived assets by geographic area. Long-lived assets consist of Property, equipment and leasehold improvements, net and Lease right-of-use assets, net and excludes goodwill, intangible assets, deferred taxes and other assets.


(in thousands)	August 31,
	2023		2022
Long-lived Assets
United States	$	109,787	$	111,301
Philippines	55,934		63,879
India	25,223		29,440
United Kingdom	11,532		12,637
All Other Countries	25,468		23,044
Total long-lived assets	$	227,944	$	240,301

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 22
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

LEASES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
LEASES - Narrative (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022
Lessee, Lease, Description [Line Items]
ROU assets	$ 141,837	$ 159,458
Current and non-current lease liabilities	227,221
Impairment charge, lease ROU assets	$ 14,400	$ 31,500
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	12 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Aug. 31, 2023
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation We conduct business globally and manage our business on a geographic basis. The accompanying Consolidated Financial Statements and Notes to the Consolidated Financial Statements included in this Annual Report on Form 10-K are prepared in accordance with generally accepted accounting principles in the United States ("GAAP") for annual financial information and the instructions to Form 10-K and Article 10 of Regulation S-X. The accompanying Consolidated Financial Statements include our accounts and those of our wholly-owned subsidiaries; all intercompany activity and balances have been eliminated. We have evaluated subsequent events through the date that the financial statements were issued. Reclassifications In fiscal 2023, we separated the components of Interest expense, net to present Interest income and Interest expense separately in the Consolidated Statements of Income. We conformed the comparative figures for fiscal 2022 and 2021 to the current year's presentation. Use of Estimates The preparation of our Consolidated Financial Statements and related disclosures in conformity with GAAP required management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Significant estimates may include income taxes, stock-based compensation, goodwill and intangible assets, business combinations, long-lived assets, contingencies and impairment assessments. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from those estimates. Revenue Recognition Revenues are measured as the amount of consideration expected to be received in exchange for fulfilling our contractual performance obligations with our clients. The majority of our revenues are derived from client access to our multi-asset solutions powered by our suite of connected content available over the contractual term (referred to as the "hosted platform"). The hosted platform is a subscription-based service that provides client access to various combinations of products and services including workstations, portfolio analytics and enterprise solutions. In addition, through our CGS platform, we provide subscription access to a database of universally recognized identifiers reflecting differentiating characteristics for issuers and their financial instruments (referred to as the "identifier platform"). We determined the majority of our contracts with clients, whether for our hosted platform or identifier platform services, each represent a single performance obligation covering a series of distinct products and services that are substantially the same and that have the same pattern of transfer to the client. The primary nature of our promise to the client is to provide daily access to each of these data and analytics platforms, with revenue recognized over-time as performance is satisfied on an output time-based measure of progress, as the client is simultaneously receiving and consuming the benefits of the platform. We record deferred revenues when payments are received in advance of performance under the contract. Stock-Based Compensation Our stock-based awards include stock options, restricted stock units ("RSUs"), performance share units ("PSUs") and common stock purchased by eligible employees under our employee stock purchase plan ("ESPP"). We measure and recognize stock-based compensation for all stock-based awards granted to our employees and our non-employee members of the Board of Directors ("non-employee directors") based on their estimated grant date fair value. To estimate the grant date fair value, we utilize a lattice-binomial option-pricing model ("binomial model") for our employee stock options and the Black-Scholes model for non-employee director stock options and common stock purchased by eligible employees under our ESPP. Both the binomial model and Black-Scholes model involve certain estimates and assumptions such as: •Risk-free interest rate - based on the U.S. Treasury yield curve in effect at the time of grant with maturities equal to the expected terms of the stock-based awards granted. •Expected life - the weighted average period the stock-based awards are expected to remain outstanding. •Expected volatility - based on a blend of historical volatility of the stock-based award's useful life and the weighted average implied volatility for call option contracts traded in the 90 days preceding the stock-based award's valuation date. •Dividend yield - the expectation of dividend payouts based on our history. The binomial model also incorporates market conditions, vesting restrictions and exercise patterns. For RSUs and PSUs, the grant date fair value is measured by reducing the grant date price of our common stock 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. The number of PSUs granted assumes target-level achievement of the specified performance levels within the payout range. The ultimate number of common shares that may be earned from a PSU is determined based on the actual achievement of the specified performance levels within the payout range. Stock-based compensation expense for stock option and RSU awards is recognized over the requisite service period using the straight-line method. The amount of stock-based compensation expense recognized on any date, for stock options and RSUs granted, is at least equal to the vested portion of the award on that date. Our PSUs require management to make assumptions regarding the probability of achieving specified performance levels established at the time of grant, and recognize stock-based compensation expense using the straight-line method over the requisite service period. The probability of achieving the specified performance levels is reviewed on a quarterly basis to ensure the amount of stock-based compensation expense appropriately reflects the expected achievement. For our ESPP, compensation expense is recognized on a straight-line basis over the offering period. Stock-based awards are subject to the continued employment and continued service at the time of vesting by employees and non-employee directors, respectively. Compensation expense for stock-based awards is recorded net of estimated forfeitures, which are based on historical forfeiture rates and are revised if actual forfeitures differ from those estimates. Research and Product Development Costs We do not have a separate research and product development ("R&D") department, but rather these costs primarily consist of employee expenses, such as salaries and related benefits for our product development, software engineering and technical support departments, and certain third parties. These teams collaborate with our strategists, product and content managers, technologists, sales and other team members to develop new products and process innovations and enhance existing products. Our R&D costs are expensed as incurred and are primarily recorded in employee compensation costs, which are included in our Cost of services and Selling, general and administrative ("SG&A") expenses in the Consolidated Statements of Income, dependent on the nature of the team. We incurred R&D costs of $267.4 million, $255.1 million and $250.1 million during fiscal 2023, 2022 and 2021, respectively. Income Taxes We account for income taxes using the asset and liability method. Under this method deferred tax assets and liabilities are recorded for the temporary differences between the financial statement and the tax basis of assets and liabilities. In addition, deferred tax assets and liabilities are recorded for net operating loss carryforwards ("NOLs") and tax credit carryforwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates that apply to taxable income in effect for the years in which they are expected to be realized or settled. Deferred tax assets are evaluated for future realization and reduced by a valuation allowance to the amount that is more likely than not (defined as a likelihood of more than 50%) to be realized. Applicable accounting guidance prescribes a comprehensive model for financial statement recognition, measurement, classification and disclosure of uncertain tax positions that a company has taken or expects to take on a tax return. We follow a two-step approach in recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not (defined as a likelihood of more than 50%) that a tax position will be sustained based on its technical merits as of the reporting date. The second step, for those positions that meet the recognition criteria, is to measure and recognize the largest amount of benefit that is greater than 50% likely of being realized upon effective settlement with a taxing authority. We classify the liability for unrecognized tax benefits as Taxes Payable (non-current) and to the extent we anticipate payment of cash within one year, the benefit is classified as Current taxes payable in the Consolidated Balance Sheets. The determination of liabilities related to uncertain tax positions and associated interest and penalties requires significant estimates and assumptions; as such, there can be no assurance that we will accurately predict the outcomes of these audits. For this reason and due to ongoing audits by multiple tax authorities, we regularly engage in discussions and negotiations with tax authorities regarding tax matters in various jurisdictions. We adjust these reserves in light of changing facts and circumstances, such as the closing of a tax audit or the refinement of an estimate. To the extent that the final outcome of these matters is different than the amounts recorded, such differences will affect the provision for income taxes in the period in which such determination is made. We accrue interest on all tax exposures for which reserves have been established consistent with jurisdictional tax laws, and classify this interest as Provision for income taxes in the Consolidated Statements of Income and Current taxes payable or Taxes payable (non-current), based on the expected timing of the payment, within the Consolidated Balance Sheets. Cash and Cash Equivalents Cash and cash equivalents consist of cash and highly liquid investments including demand deposits and money market funds available for withdrawal without restriction or with original maturities of 90 days or less. The carrying value of our cash and cash equivalents approximates fair value. Accounts Receivable Accounts receivable are recorded at the invoiced amount, net of an allowance for any potential uncollectible amounts. Accounts receivable also includes unbilled receivables reflecting revenues earned but not yet invoiced. Amounts included in accounts receivable are expected to be collected within one year. We evaluate our allowance to include expected credit losses and collectability trends based on a variety of factors, including our historical write-off activity, current economic environment, customer-specific information and expectations of future economic conditions. Our allowance is recorded to SG&A in the Consolidated Statements of Income and we assess the adequacy of the allowance on a quarterly basis. Recoveries of accounts previously reserved are recognized as a reversal to SG&A when payment is received. We write-off accounts receivable balances when we have exhausted our collection efforts. Property, Equipment and Leasehold Improvements Property, equipment and leasehold improvements ("PPE") are stated at cost, less accumulated depreciation and amortization. Property and equipment are depreciated based on the straight-line method over the estimated useful lives of the assets, ranging from three to five years for computers and related equipment and seven years for furniture and fixtures. Leasehold improvements are amortized on a straight-line basis over the shorter of their respective useful lives or the related lease term. Repairs and maintenance expenditures, which are not considered leasehold improvements, and do not extend the useful life of the property and equipment, are expensed as incurred. We review our PPE to determine if any indicators of impairment are present on a quarterly basis or whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. If indicators of impairment are present, the asset group is tested for impairment by comparing the carrying value to undiscounted cash flows and, if impaired, written down to fair value based on discounted cash flows. In addition, we periodically evaluate the estimated remaining useful lives of long-lived intangible assets to determine whether events or changes in circumstances warrant a revision to the remaining period of depreciation or amortization. Goodwill We recognize the excess of the purchase price over the fair value of identifiable net assets acquired at the acquisition date as goodwill. Goodwill is not amortized but is tested for impairment at the reporting unit level annually, or more frequently if impairment indicators occur. Goodwill is deemed to be impaired and written-down in the period in which the carrying value of the reporting unit exceeds its fair value. We have three reporting units, Americas, EMEA and Asia Pacific, which are consistent with our operating segments. When assessing goodwill for impairment, we may first elect to perform a qualitative analysis for the reporting units to determine whether it is more likely than not (a likelihood of more than 50 percent) that the fair value of the reporting unit is less than its carrying value. If the qualitative analysis indicates that it is more likely than not the fair value of a reporting unit is less than its carrying amount or if we elect not to perform a qualitative analysis, a quantitative analysis is performed to determine whether a goodwill impairment exists. The quantitative goodwill impairment analysis is used to identify potential impairment by comparing the carrying amount of a reporting unit with its fair value. To perform this analysis, we apply the income approach which utilizes discounted cash flows, along with other relevant market information. The annual review of the carrying value of goodwill requires us to develop estimates of expected cash flows by reporting unit, based on future business performance, discounted by their respective weighted average cost of capital. Changes in our estimates can impact the present value of expected cash flows used in determining fair value of a reporting unit. If the carrying value of the reporting unit exceeds the fair value, then the goodwill is considered impaired and written down to the reporting unit’s fair value. The impairment loss for the reporting unit cannot exceed the carrying amount of the goodwill allocated to that reporting unit. Intangible Assets Acquired Intangible Assets We amortize intangible assets over their estimated useful lives, assuming no residual value. We evaluate the useful lives annually to determine whether events and circumstances warrant a revision to the remaining period of amortization. If the estimate of the remaining useful life is changed, the remaining carrying amount of the intangible asset is amortized prospectively over that revised remaining useful life. Intangible assets are tested for impairment qualitatively on a quarterly basis or whenever events or changes in circumstances indicate that the carrying amount of an asset group is not recoverable. If indicators of impairment are present, amortizable intangible assets are tested for impairment by comparing the carrying value to undiscounted cash flows and, if impaired, written down to fair value based on discounted cash flows. Developed Technology Our developed technology intangible assets include capitalized internal-use software related to internal and external costs incurred during the application development stage related to developing, modifying or obtaining software for internal-use. Costs related to software upgrades and enhancements are capitalized if it is determined that these upgrades or enhancements provide additional functionality to the software. The capitalized software is amortized using the straight-line method over the estimated useful life of the software, generally three to five years. These assets are subject to the impairment test guidance specified in the Acquired Intangible Assets disclosure above. Leases Our lease portfolio consists of operating leases primarily related to our office space. We determine if an arrangement qualifies as a lease at inception by evaluating if there is an identified asset and whether we obtain substantially all the economic benefits of and have the right to control the use of an asset. For operating leases with a term greater than one year, we recognize lease right-of-use ("ROU") assets and lease liabilities as the present value of future minimum lease payments over the reasonably certain lease term beginning at the commencement date. The future minimum lease payments include fixed lease payments and certain qualifying index-based variable payments. Our lease ROU assets may further be impacted by prepayments, lease incentives received and initial direct costs incurred. Our operating leases are classified within Lease right-of-use assets, net, Current lease liabilities and Long-term lease liabilities on our Consolidated Balance Sheets. Our leases generally do not have a readily determinable implicit rate, therefore we use our incremental borrowing rate ("IBR") at the lease commencement date, or on the date of lease modification, if applicable, in determining the present value of future payments. Our IBR is derived by selecting U.S. corporate yield curves observed for public companies that are reflective of our credit rating, adjusted to approximate a secured rate of borrowing. We also consider revisions to the rate to reflect the geographic location where the leased asset is located. Certain of our lease agreements include options to extend and options to terminate the lease, which we do not include in our minimum lease terms unless management is reasonably certain to exercise. We account for the lease and non-lease components as a single lease component, which we recognize over the expected term on a straight-line expense basis in occupancy costs (a component of SG&A expense in the Consolidated Statements of Income). Variable lease payments are not included in the calculation of lease ROU assets and lease liabilities and are expensed as incurred within occupancy costs. We review our lease ROU assets for impairment when there is an indication that an asset may no longer be recoverable. The impairment assessment requires significant judgments and estimates, including estimating subtenant rental income, calculating an appropriate discount rate and assessing other applicable future cash flows associated with the leased location. These estimates are based on our experience and knowledge of the market in which the property is located, previous efforts to dispose of similar assets and the assessment of existing market conditions. Impairments are recognized as a reduction to the carrying value of the Lease right-of-use assets, net with a corresponding increase to Asset impairments on our Consolidated Balance Sheets and Consolidated Statements of Income, respectively. Derivative Instruments We use derivative financial instruments (“derivatives”) to manage exposure to foreign currency exchange rates and variable interest rates. Our primary objective in holding derivatives is to reduce the volatility in cash flows associated with foreign currency fluctuations and funding activities arising from changes in interest rates. We do not employ derivatives for trading or speculative purposes. Foreign Currency Forward Contracts As we conduct business outside the U.S. in several currencies, we utilize derivative instruments (foreign currency forward contracts) to mitigate our currency exposures from fluctuations in foreign currency exchange rates that can create volatility in our results of operations, cash flows and financial condition. Our primary currency exposures include the Indian Rupee, Euro, British Pound Sterling and Philippine Peso. In designing a specific hedging approach, we consider several factors, including offsetting exposures, significance of exposures, forecasting risk and potential effectiveness of the hedge. Interest Rate Swap Agreement We leverage interest rate swap agreements to hedge the variability of our cash flows resulting from floating interest rates on our debt. Through a swap agreement, for the portion of the debt that is hedged, we pay interest at a fixed interest rate as opposed to a floating interest rate per the contractual terms of our debt agreement, at specified intervals throughout the life of the interest rate swap agreement. Derivative Instrument Classification At inception of the hedge accounting relationship and on a quarterly basis, we formally assess whether derivatives designated as cash flow hedges are highly effective in offsetting changes to the forecasted cash flows of the hedged items. If the cash flow hedges are deemed to be highly effective, the gain or loss on the cash flow hedges are initially reported as a component of Accumulated other comprehensive loss ("AOCL") on the Consolidated Balance Sheets. These changes are subsequently reclassified to the Consolidated Statements of Income and recorded in SG&A for the foreign currency forward contracts and Interest expense for the interest rate swap agreements, when the hedged exposure affects earnings. All our derivatives are assessed for effectiveness at each reporting period and are designated as hedging instruments. Treasury Stock We account for treasury stock under the cost method and include treasury stock as a component of Stockholders' equity on the Consolidated Balance Sheets. We may repurchase shares of our common stock under our share repurchase program in the open market and via privately negotiated transactions, subject to market conditions. Repurchased shares of our common stock are recorded at the market price on the trade date and are held as treasury shares until they are reissued or retired. When treasury shares are reissued, if the issuance price is higher than the average price paid to acquire the shares ("the cost"), the excess of the issuance price over the cost is credited to additional paid-in capital ("APIC"). If the issuance is lower than the cost, the difference is first charged against any credit balance in APIC from treasury stock, with the remaining balance charged to Retained earnings. We account for the formal retirement of treasury shares by deducting its par value from common stock, reflecting any excess over par value as a reduction to APIC (to the extent created by previous issuances of the shares) and then Retained earnings. The Inflation Reduction Act of 2022 ("IRA"), which was enacted into law on August 16, 2022, imposed a nondeductible 1% excise tax on the net value of certain stock repurchases made after December 31, 2022. During fiscal 2023, we reflected the applicable excise tax in treasury stock as part of the cost basis of the stock repurchased, and recorded a corresponding liability for the excise taxes payable in Accounts payable and accrued expenses on the Consolidated Balance Sheets. Fair Value Measurements 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 inputs to these methodologies consider market comparable information taking into account the principal or most advantageous market in which we would transact. 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. Foreign Currency Translation and Remeasurement Certain wholly-owned subsidiaries operate under a functional currency different from the U.S. dollar, including our primary currency exposures of the Indian Rupee, Euro, British Pound Sterling and Philippine Peso. The financial statements of our foreign subsidiaries that are local currency functional are translated into U.S. dollars using period-end rates of exchange for assets and liabilities and average monthly rates for revenues and expenses. The resulting translation gains and losses that arise from translating these assets, liabilities, revenues and expenses of our foreign operations are recorded in AOCL in the Consolidated Balance Sheets. For the financial statements of our foreign subsidiaries that are U.S. dollar functional, but maintain their books of record in their respective local currency, we remeasure our revenues and expenses into U.S. dollars at the average rates of exchange for the period, monetary assets and liabilities using period-end rates and non-monetary assets and liabilities at their historical rates. The resulting remeasurement gains and losses that arise from remeasuring the assets and liabilities of our foreign operations are recorded to SG&A in the Consolidated Statements of Income. Concentrations of Credit Risk Credit risk arises from the potential nonperformance by counterparties to fulfill their financial obligations. Our financial instruments that potentially subject us to concentrations of credit risk consist primarily of our cash and cash equivalents, accounts receivable, investments in mutual funds and derivative instruments. The maximum credit exposure of our cash and cash equivalents, accounts receivable and investments in mutual funds is their carrying values as of the balance sheet date. The maximum credit exposure related to our derivative instruments is based upon the gross fair values as of the balance sheet date. Cash and Cash Equivalents and Investments We are exposed to credit risk on our cash and cash equivalents and investments in mutual funds in the event of default by the financial institutions with which we transact. We invest our cash and cash equivalents and investments in mutual funds in accordance with our restrictive cash investment practices with the primary objective to preserve capital and maintain liquidity while minimizing our exposure to credit risk. We have not experienced any losses in such accounts and we limit our exposure to credit loss by placing our cash and cash equivalents and investments in mutual funds with multiple financial institutions that we believe are high-quality and credit-worthy. Accounts Receivable Our accounts receivable credit risk is dependent upon the financial stability of our individual clients. Our receivable reserve was $7.8 million and $2.8 million as of August 31, 2023 and August 31, 2022, respectively. We do not require collateral from our clients; however, no single client represented more than 3.5% of our total subscription revenues in any fiscal year presented. Our concentration of credit risk related to our accounts receivable is generally limited, due to our large and geographically dispersed client base. Derivative Instruments Our use of derivative instruments exposes us to credit risk to the extent counterparties may be unable to meet the terms of their agreements. To mitigate credit risk, we limit counterparties to financial institutions we believe are credit-worthy and use several institutions to reduce concentration risk. We do not expect any losses as a result of default by our counterparties. Concentrations of Data Providers We integrate data from various third-party sources into our hosted proprietary data and analytics platform. As certain data sources have a limited number of suppliers, we make every effort to assure that, where reasonable, alternative sources are available. We are not dependent on any individual third-party data supplier to meet the needs of our clients, with only two data suppliers each representing more than 10% of our total data costs for the year ended August 31, 2023. Concentrations of Cloud Providers Our clients rely on us for the delivery of time-sensitive, up-to-date data and applications. Our business is dependent on our ability to process substantial volumes of data and transactions rapidly and efficiently. We currently use multiple providers of cloud services; however, one supplier provided the majority of our cloud computing support for fiscal 2023. We maintain back-up facilities and other redundancies at our major data centers, take security measures and have emergency planning procedures to minimize the risk that an event will disrupt our operations. Recently Adopted Accounting Pronouncements We did not adopt any new standards or updates issued by the Financial Accounting Standards Board ("FASB") during fiscal 2023 that had a material impact on our Consolidated Financial Statements. Accounting Pronouncements Not Yet Adopted There were no new accounting pronouncements issued or effective as of August 31, 2023 that had, or are expected to have, a material impact on our Consolidated Financial Statements.

STOCKHOLDERS’ EQUITY (Tables)

12 Months Ended

Aug. 31, 2023

Equity [Abstract]

Share Repurchases


(in thousands, except share data)	Years ended August 31,
	2023		2022		2021
Repurchases of common stock under the share repurchase program(1)	430,350		46,200		797,385
Total cost of shares repurchased(1)(2)	$	176,720	$	18,639	$	264,702

(2) For fiscal 2023, amount excludes a 1% excise tax of $0.9 million on corporate stock repurchases required under the IRA for publicly traded U.S. corporations after December 31, 2022.

Schedule of Dividends Declared

Our Board of Directors approved the following dividends:


Year Ended	Dividends per Share of Common Stock		Record Date	Total Amount (in thousands)		Payment Date
Fiscal 2023
First Quarter	$	0.89	November 30, 2022	$	34,010	December 15, 2022
Second Quarter	$	0.89	February 28, 2023	34,099		March 16, 2023
Third Quarter	$	0.98	May 31, 2023	37,442		June 15, 2023
Fourth Quarter	$	0.98	August 31, 2023	37,265		September 21, 2023
Total Dividends				$	142,816

Fiscal 2022
First Quarter	$	0.82	November 30, 2021	$	30,973	December 16, 2021
Second Quarter	$	0.82	February 28, 2022	31,065		March 17, 2022
Third Quarter	$	0.89	May 31, 2022	33,795		June 16, 2022
Fourth Quarter	$	0.89	August 31, 2022	33,860		September 15, 2022
Total Dividends				$	129,693

Fiscal 2021
First Quarter	$	0.77	November 30, 2020	29,266		December 17, 2020
Second Quarter	$	0.77	February 26, 2021	29,141		March 18, 2021
Third Quarter	$	0.82	May 31, 2021	30,972		June 17, 2021
Fourth Quarter	$	0.82	August 31, 2021	30,845		September 16, 2021
Total Dividends				$	120,224

Components of AOCL

The components of AOCL are as follows:


(in thousands)	August 31, 2023		August 31, 2022
Accumulated unrealized gains (losses) on cash flow hedges, net of tax	$	2,880	$	3,149
Accumulated foreign currency translation adjustments	(90,021)		(111,532)
Total AOCL	$	(87,141)	$	(108,383)

DERIVATIVE INSTRUMENTS - Fair Value Amounts of Derivative Instruments (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022
Derivative [Line Items]
Derivative Assets	$ 4,383	$ 12,412
Derivative Liabilities	608	8,307
Cash Flow Hedging \| Designated as Hedging Instrument
Derivative [Line Items]
Derivative Assets	4,383	12,412
Derivative Liabilities	$ 608	$ 8,307
Cash Flow Hedging \| Designated as Hedging Instrument \| Foreign currency forward contracts
Derivative [Line Items]
Derivative Assets, location	Prepaid expenses and other current assets	Prepaid expenses and other current assets
Derivative Assets	$ 1,260	$ 0
Derivative liabilities, location	Accounts payable and accrued expenses	Accounts payable and accrued expenses
Derivative Liabilities	$ 608	$ 8,307
Cash Flow Hedging \| Designated as Hedging Instrument \| Interest rate swap agreement \| Prepaid expenses and other current assets
Derivative [Line Items]
Derivative Assets, location	Prepaid expenses and other current assets	Prepaid expenses and other current assets
Derivative Assets	$ 3,123	$ 10,621
Cash Flow Hedging \| Designated as Hedging Instrument \| Interest rate swap agreement \| Other assets
Derivative [Line Items]
Derivative Assets, location	Other assets	Other assets
Derivative Assets	$ 0	$ 1,791
Cash Flow Hedging \| Designated as Hedging Instrument \| Interest rate swap agreement \| Accounts payable and accrued expenses
Derivative [Line Items]
Derivative liabilities, location	Accounts payable and accrued expenses	Accounts payable and accrued expenses
Derivative Liabilities	$ 0	$ 0
Cash Flow Hedging \| Designated as Hedging Instrument \| Interest rate swap agreement \| Other liabilities
Derivative [Line Items]
Derivative liabilities, location	Other liabilities	Other liabilities
Derivative Liabilities	$ 0	$ 0

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Income Statement [Abstract]
Revenues	$ 2,085,508	$ 1,843,892	$ 1,591,445
Operating expenses
Cost of services	973,225	871,106	786,400
Selling, general and administrative	457,130	433,032	331,004
Asset impairments	25,946	64,272	0
Total operating expenses	1,456,301	1,368,410	1,117,404
Operating income	629,207	475,482	474,041
Other income (expense), net
Interest income	12,809	6,175	1,806
Interest expense	(66,319)	(35,697)	(8,200)
Other income (expense), net	8,257	(2,366)	(30)
Total other income (expense), net	(45,253)	(31,888)	(6,424)
Income before income taxes	583,954	443,594	467,617
Provision for income taxes	115,781	46,677	68,027
Net income	$ 468,173	$ 396,917	$ 399,590
Basic earnings per common share (in dollars per share)	$ 12.26	$ 10.48	$ 10.56
Diluted earnings per common share (in dollars per share)	$ 12.04	$ 10.25	$ 10.36
Basic weighted average common shares (in shares)	38,194	37,864	37,856
Diluted weighted average common shares (in shares)	38,898	38,736	38,570

SEGMENT INFORMATION (Tables)

12 Months Ended

Aug. 31, 2023

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

The following tables reflect the results of operations of our segments:


(in thousands)
Year Ended August 31, 2023	Americas		EMEA		Asia Pacific		Total
Revenues	$	1,335,484	$	539,843	$	210,181	$	2,085,508
Operating income(1)	$	239,438	$	243,028	$	146,741	$	629,207
Depreciation and amortization(2)	$	89,602	$	7,305	$	8,477	$	105,384
Stock-based compensation	$	51,574	$	7,280	$	3,184	$	62,038
Capital expenditures(3)	$	54,609	$	2,317	$	3,860	$	60,786


Year Ended August 31, 2022	Americas		EMEA		Asia Pacific		Total
Revenues	$	1,173,946	$	484,279	$	185,667	$	1,843,892
Operating income(1)	$	159,140	$	196,231	$	120,111	$	475,482
Depreciation and amortization(2)	$	64,916	$	11,794	$	9,973	$	86,683
Stock-based compensation	$	45,319	$	8,271	$	2,413	$	56,003
Capital expenditures(3)	$	44,114	$	1,427	$	5,615	$	51,156


Year Ended August 31, 2021	Americas		EMEA		Asia Pacific		Total
Revenues	$	1,008,046	$	427,700	$	155,699	$	1,591,445
Operating income(1)	$	218,180	$	159,704	$	96,157	$	474,041
Depreciation and amortization	$	39,415	$	14,847	$	10,214	$	64,476
Stock-based compensation	$	35,113	$	8,401	$	1,551	$	45,065
Capital expenditures(3)	$	38,146	$	1,424	$	21,755	$	61,325

(1)Includes asset impairment charges further disclosed in the Segment Asset Impairments section below.

(2)The Americas includes CGS intangible asset amortization of $53.7 million and $26.8 million during fiscal 2023 and 2022, respectively.

(3)Capital expenditures includes purchases of PPE and capitalized internal-use software.

Segment Asset Impairments

The following table reflects asset impairments by segment for each fiscal year in which impairment charges were incurred:


(in thousands)
Year Ended August 31, 2023	Americas		EMEA		Asia Pacific		Total
Lease ROU assets and PPE(1)	$	11,017	$	7,009	$	—	$	18,026
Intangible assets(2)	7,920		—		—		7,920
Total asset impairments	$	18,937	$	7,009	$	—	$	25,946


Year Ended August 31, 2022	Americas		EMEA		Asia Pacific		Total
Lease ROU assets and PPE(1)	$	57,647	$	4,237	$	321	$	62,205
Intangible assets(2)	2,067		—		—		2,067
Total asset impairments	$	59,714	$	4,237	$	321	$	64,272

(2)Asset impairments related to Trade names and Developed technology for fiscal 2023 and Developed technology for fiscal 2022.

Segment Total Assets

The following table reflects the total assets for our segments:


	As of August 31,
(in thousands)	2023		2022
Segment Assets
Americas	$	3,148,192	$	3,191,313
EMEA	558,393		580,450
Asia Pacific	256,337		242,542
Total assets	$	3,962,922	$	4,014,305

Schedule of Revenue by Geographic Areas

The following table sets forth revenues by geography, attributed to countries based on the location of the client:


(in thousands)	Years ended August 31,
	2023		2022		2021
Revenues
United States	$	1,265,002	$	1,106,602	$	952,423
United Kingdom	223,809		215,369		190,044
Other European Countries	316,034		268,910		237,656
All Other Countries	280,663		253,011		211,322
Total revenues	$	2,085,508	$	1,843,892	$	1,591,445

Schedule of Long-lived Assets by Geographic Areas


(in thousands)	August 31,
	2023		2022
Long-lived Assets
United States	$	109,787	$	111,301
Philippines	55,934		63,879
India	25,223		29,440
United Kingdom	11,532		12,637
All Other Countries	25,468		23,044
Total long-lived assets	$	227,944	$	240,301

ACQUISITIONS - Narrative (Details) - USD ($) $ in Thousands				12 Months Ended
ACQUISITIONS - Narrative (Details) - USD ($) $ in Thousands	Mar. 01, 2022	Oct. 12, 2021	Nov. 02, 2020	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Business Acquisition [Line Items]
Purchase price				$ 23,593	$ 1,981,641	$ 58,056
Goodwill				$ 1,004,736	$ 965,848	$ 754,205
CUSIP Global Services
Business Acquisition [Line Items]
Purchase price	$ 1,932,000
Goodwill	$ 214,970
Cobalt Software, Inc.
Business Acquisition [Line Items]
Purchase price		$ 50,000
Goodwill		$ 41,338
Truvalue Labs, Inc.
Business Acquisition [Line Items]
Purchase price			$ 41,900
Goodwill			$ 30,058

- Definition

+ References + Details

DEBT

12 Months Ended

Aug. 31, 2023

Debt Disclosure [Abstract]

DEBT

We elected not to carry our Long-term debt at fair value. The carrying value of our debt is net of related unamortized discounts and debt issuance costs. Our total debt obligations as of August 31, 2023 and August 31, 2022 consisted of the following:


(in thousands)	Issuance Date	Contractual Maturity Date	August 31, 2023		August 31, 2022
2022 Credit Agreement
2022 Term Facility	3/1/2022	3/1/2025	$	375,000	$	750,000
2022 Revolving Facility	3/1/2022	3/1/2027	250,000		250,000

Senior Notes
2027 Notes	3/1/2022	3/1/2027	500,000		500,000
2032 Notes	3/1/2022	3/1/2032	500,000		500,000

Total unamortized discounts and debt issuance costs			(12,300)		(17,576)

Total Long-term debt			$	1,612,700	$	1,982,424

As of August 31, 2023, annual maturities on our total debt obligations, based on contract maturity, were as follows:


(in thousands)	Maturities
Years Ended August 31,
2024	$	—
2025	375,000
2026	—
2027	750,000
2028	—
Thereafter	500,000
Total	$	1,625,000

2022 Credit Agreement

On March 1, 2022, we entered into a credit agreement (the "2022 Credit Agreement") and borrowed an aggregate principal amount of $1.0 billion under its senior unsecured term loan credit facility (the "2022 Term Facility") and $250.0 million of the available $500.0 million under its senior unsecured revolving credit facility (the "2022 Revolving Facility" and, together with the 2022 Term Facility, the “2022 Credit Facilities”). The 2022 Term Facility matures on March 1, 2025, and the 2022 Revolving Facility matures on March 1, 2027. The 2022 Revolving Facility allows for the availability of up to $100.0 million in the form of letters of credit and up to $50.0 million in the form of swingline loans. We may seek additional commitments under the 2022 Revolving Facility from lenders or other financial institutions up to an aggregate principal amount of $750.0 million.

We pay a commitment fee on the daily unused amount of the 2022 Revolving Facility using a pricing grid based on our senior unsecured non-credit enhanced long-term debt rating and our total leverage ratio. The commitment fee remained consistent at 0.125% from the borrowing date through August 31, 2023.

We used these borrowings, along with the net proceeds from the issuance of the Senior Notes (as defined below) and cash on hand, to finance the consideration for the CGS acquisition, to repay borrowings under the 2019 Credit Agreement (as defined below) and to pay related transaction fees, costs and expenses.

During fiscal 2022, we incurred approximately $9.5 million in debt issuance costs related to the 2022 Credit Facilities. Debt issuance costs are presented in the Consolidated Balance Sheets as a direct deduction from the carrying amount of the debt liability. Debt issuance costs are amortized to Interest expense in the Consolidated Statements of Income on a straight-line basis over the contractual term of the debt, which approximates the effective interest method.

We may voluntarily prepay loans under the 2022 Credit Facilities at any time without premium or penalty. During fiscal 2023, we repaid $375.0 million under the 2022 Term Facility, inclusive of voluntary prepayments of $325.0 million. Since loan inception on March 1, 2022, we have repaid $625.0 million under the 2022 Term Facility, inclusive of voluntary prepayments of $562.5 million.

As of August 31, 2023, the outstanding borrowings under the 2022 Credit Facilities bore interest at a rate equal to the applicable one-month Term SOFR rate plus a 1.1% spread (comprised of a 1.0% interest rate margin based on a debt leverage pricing grid plus a 0.1% credit spread adjustment). The spread remained consistent from the borrowing date through August 31, 2023. Interest on the 2022 Credit Facilities is currently payable on the last business day of each month, in arrears.

The 2022 Credit Agreement contains usual and customary event of default provisions for facilities of this type, which are subject to usual and customary grace periods and materiality thresholds. If an event of default occurs under the 2022 Credit Agreement, the lenders may, among other things, terminate their commitments and declare all outstanding borrowings immediately due and payable.

The 2022 Credit Agreement contains usual and customary affirmative and negative covenants for facilities of this type, including a financial covenant requiring maintenance of a total leverage ratio of no greater than 3.75 to 1.00 as of August 31, 2023. We were in compliance with all covenants and requirements of the 2022 Credit Agreement as of August 31, 2023.

Swap Agreements

On March 5, 2020, we entered into the 2020 Swap Agreement to hedge a portion of our then outstanding floating LIBOR rate debt with a fixed interest rate of 0.7995%. On March 1, 2022, we terminated the 2020 Swap Agreement and concurrently entered into the 2022 Swap Agreement to hedge a portion of our outstanding floating SOFR rate debt with a fixed interest rate of 1.162%. Effective December 30, 2022, we apportioned the then outstanding notional amount of the 2022 Swap Agreement between two counterparties. Refer to Note 5, Derivative Instruments for further discussion of the 2020 Swap Agreement and 2022 Swap Agreement.

Senior Notes

On March 1, 2022 we completed a public offering of $500.0 million aggregate principal amount of 2.900% Senior Notes due March 1, 2027 (the “2027 Notes”) and $500.0 million aggregate principal amount of 3.450% Senior Notes due March 1, 2032 (the “2032 Notes” and, together with the 2027 Notes, the “Senior Notes”). The Senior Notes were issued pursuant to an indenture, dated as of March 1, 2022, by and between us and U.S. Bank Trust Company, National Association, as trustee (the "Trustee"), as supplemented by the supplemental indenture, dated as of March 1, 2022, between us and the Trustee (the "Supplemental Indenture").

The Senior Notes were issued at an aggregate discount of $2.8 million and we incurred approximately $9.1 million in debt issuance costs. Debt discounts and debt issuance costs are presented in the Consolidated Balance Sheets as a net direct deduction from the carrying amount of the debt liability. The debt discounts and debt issuance costs are amortized to Interest expense in the Consolidated Statements of Income over the contractual term of the debt, leveraging the effective interest method.

Interest on the Senior Notes is payable semiannually in arrears on March 1 and September 1 of each year, with the first payment made on September 1, 2022.

We may redeem the Senior Notes, in whole or in part, at any time at specified redemption prices, plus any accrued and unpaid interest. Upon the occurrence of a change of control triggering event (as defined in the Supplemental Indenture), we must offer to repurchase the Senior Notes at 101% of their principal amount, plus any accrued and unpaid interest.

2019 Credit Agreement

On March 29, 2019, we entered into a credit agreement with PNC Bank, National Association (the "2019 Credit Agreement") and borrowed $575.0 million of the available $750.0 million provided by the revolving credit facility thereunder (the "2019 Revolving Credit Facility"). Borrowings under the 2019 Revolving Credit Facility bore interest on the outstanding principal amount at a rate equal to the daily LIBOR plus a spread using a debt leverage pricing grid. Interest on the amounts outstanding under the 2019 Revolving Credit Facility was payable quarterly, in arrears, and on the maturity date. We incurred approximately $0.9 million in debt issuance costs related to the 2019 Credit Agreement.

On March 1, 2022, we repaid in full and terminated the 2019 Credit Agreement and amortized the remaining related $0.4 million of capitalized debt issuance costs into Interest expense in the Consolidated Statements of Income.

Interest Expense

On March 1, 2022, the 2019 Revolving Credit Facility and 2020 Swap Agreement were both terminated and concurrently replaced with the 2022 Credit Facilities, Senior Notes and 2022 Swap Agreement. The following table presents the interest expense on our outstanding debt which is included in Interest expense in our Consolidated Statements of Income:


	Years Ended August 31,
(in thousands)	2023		2022		2021
Interest expense on outstanding debt(1)	$	66,283	$	35,152	$	8,066

(1) Interest expense on our outstanding debt includes the related amortization of debt issuance costs and debt discounts, net of the effects of the related interest rate swap agreements.

Including the related amortization of debt issuance costs and debt discounts, net of the effects of the related interest rate swap agreement, the year-to-date weighted average interest rate on amounts outstanding under our outstanding debt was 3.44% and 2.02% as of August 31, 2023 and August 31, 2022, respectively. Refer to Note 5, Derivative Instruments for further discussion of the 2020 Swap Agreement and 2022 Swap Agreement.

SEGMENT INFORMATION - Impairment (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Segment Reporting Information [Line Items]
Lease ROU assets and PPE	$ 18,026	$ 62,205
Intangible assets	7,920	2,067
Asset impairments	25,946	64,272	$ 0
Americas
Segment Reporting Information [Line Items]
Lease ROU assets and PPE	11,017	57,647
Intangible assets	7,920	2,067
Asset impairments	18,937	59,714
EMEA
Segment Reporting Information [Line Items]
Lease ROU assets and PPE	7,009	4,237
Intangible assets	0	0
Asset impairments	7,009	4,237
Asia Pacific
Segment Reporting Information [Line Items]
Lease ROU assets and PPE	0	321
Intangible assets	0	0
Asset impairments	$ 0	$ 321

INTANGIBLE ASSETS - Estimated Amortization Expense (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Aug. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 91,788
2025	85,673
2026	79,453
2027	66,007
2028	63,462
Thereafter	1,472,819
Total	$ 1,859,202	$ 1,895,909

INCOME TAXES - Reconciliation of Effective Tax Rate (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Income Tax Disclosure [Abstract]
Tax at U.S. Federal statutory tax rate	21.00%	21.00%	21.00%
State and local taxes, net of U.S. federal income tax benefit	3.10%	1.80%	2.10%
Foreign income at other than U.S. rates	(0.10%)	(1.20%)	(1.00%)
Foreign derived intangible income ("FDII") deduction	(1.60%)	(2.20%)	(1.90%)
Income tax benefits from R&D tax credits	(3.80%)	(4.10%)	(3.90%)
Stock-based payments	(2.20%)	(3.40%)	(2.20%)
One-time adjustment	3.80%	0.00%	0.00%
Other, net	(0.40%)	(1.40%)	0.40%
Effective tax rate	19.80%	10.50%	14.50%
One-time charge	$ 22.1

GOODWILL

12 Months Ended

Aug. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL

Changes in the carrying amount of goodwill by segment for the years ended August 31, 2023 and 2022 are as follows:


(in thousands)	Americas		EMEA		Asia Pacific		Total
Balance at August 31, 2021	$	430,088	$	321,150	$	2,967	$	754,205
Acquisitions	256,324		428		—		256,752
Foreign currency translations	—		(44,491)		(618)		(45,109)
Balance at August 31, 2022	$	686,412	$	277,087	$	2,349	$	965,848
Acquisitions	18,347		—		—		18,347
Foreign currency translations	—		20,647		(106)		20,541
Balance at August 31, 2023	$	704,759	$	297,734	$	2,243	$	1,004,736

We performed our annual goodwill impairment test during the fourth quarter of fiscal 2023 and 2022. During fiscal 2023, we utilized a quantitative analysis, electing to bypass the optional qualitative assessment, and concluded there was no impairment as the fair value of each of the Company's reporting units exceeding its carrying value. During fiscal 2022, we utilized a qualitative analysis and concluded there was no impairment as it was more likely than not that the fair value of each of our reporting units was not less than its respective carrying value.