0001013237-25-000010 | 10-Q | XBRL Viewer | Factset Research Systems INC

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INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Nov. 30, 2024	Nov. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Weighted average useful life	31 years 4 months 24 days
Impairment of intangible assets	$ 0.0	$ 0.0

REVENUE RECOGNITION (Tables)

3 Months Ended

Nov. 30, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

The following table presents revenues disaggregated by segment:


	Three Months Ended
	November 30,
(in thousands)	2024		2023
Americas	$	367,242	$	348,367
EMEA	143,725		139,561
Asia Pacific	57,700		54,288
Total Revenues	$	568,667	$	542,216

COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	3 Months Ended		64 Months Ended
COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	Nov. 30, 2024	Aug. 31, 2024	Nov. 30, 2024	Mar. 01, 2022
Concentration Risk [Line Items]
Purchase commitment, remaining minimum amount committed		$ 382,600,000
Letters of credit outstanding	$ 400,000	400,000	$ 400,000
Sales Tax Matters
Concentration Risk [Line Items]
Charges related to dispute	2,400,000	$ 54,000,000.0	66,200,000
Payment for dispute	$ 56,400,000		$ 66,200,000
Letter of Credit \| Credit Agreement 2022 \| Line of Credit
Concentration Risk [Line Items]
Maximum borrowing capacity				$ 100,000,000.0

INTANGIBLE ASSETS - Estimated Intangible Asset Amortization Expense (Details) - USD ($) $ in Thousands	Nov. 30, 2024	Aug. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
2025 (remaining nine months)	$ 92,467
2026	116,708
2027	91,107
2028	68,980
2029	64,344
Thereafter	1,436,726
Net Carrying Amount	$ 1,870,332	$ 1,844,141

DEBT - Annual Maturities of Debt Obligations (Details) $ in Thousands	Nov. 30, 2024 USD ($)
Debt Disclosure [Abstract]
2025 (remaining nine months)	$ 62,500
2026	0
2027	805,000
2028	0
2029	0
Thereafter	500,000
Total	$ 1,367,500

FAIR VALUE MEASURES (Tables)

3 Months Ended

Nov. 30, 2024

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 November 30, 2024 and August 31, 2024. We did not have any transfers between levels of fair value measurements during the three months ended November 30, 2024 and the fiscal year ended August 31, 2024.


	Fair Value Measurements as of November 30, 2024
(in thousands)	Level 1		Level 2		Level 3		Total
Assets
Money market funds(1)	$	48,317	$	—	$	—	$	48,317
Mutual funds(2)	—		69,623		—		69,623

Derivative instruments(3)	—		—		—		—
Total assets measured at fair value	$	48,317	$	69,623	$	—	$	117,940

Liabilities
Derivative instruments(3)	$	—	$	1,925	$	—	$	1,925
Contingent liabilities(4)	—		—		16,930		16,930
Total liabilities measured at fair value	$	—	$	1,925	$	16,930	$	18,855


	Fair Value Measurements as of August 31, 2024
(in thousands)	Level 1		Level 2		Level 3		Total
Assets
Money market funds(1)	$	129,635	$	—	$	—	$	129,635
Mutual funds(2)	—		69,619		—		69,619

Derivative instruments(3)	—		2,619		—		2,619
Total assets measured at fair value	$	129,635	$	72,238	$	—	$	201,873

Liabilities
Derivative instruments(3)	$	—	$	250	$	—	$	250
Contingent liability(4)	—		—		4,193		4,193
Total liabilities measured at fair value	$	—	$	250	$	4,193	$	4,443

(1) Our money market funds are readily convertible into cash. 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 each underlying investment 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 agreement, 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) Our contingent liabilities resulted from the acquisition of Platform Group Limited ("Irwin") during fiscal 2025 and the acquisition of another business during fiscal 2023. These liabilities reflect 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 liabilities for fiscal 2025 and 2023 was $12.7 million and $7.9 million, respectively, 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 liabilities is reduced by milestone achievement and remeasured each reporting period until the contingencies are resolved, with any changes in fair value recorded in SG&A within the Consolidated Statements of Income. Aside from milestone achievement, the remaining changes in the fair value of the contingent liabilities from their respective acquisition dates through November 30, 2024 were driven by the passage of time, with no changes made to key assumptions used in our fair value estimates. Refer to Note 6, Acquisitions for more information on the Irwin transaction.

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

The following table summarizes information on our outstanding debt as of November 30, 2024 and August 31, 2024:


		November 30, 2024				August 31, 2024
(in thousands)	Fair Value Hierarchy	Principal Amount		Estimated Fair Value		Principal Amount		Estimated Fair Value
2027 Notes	Level 1	$	500,000	$	479,745	$	500,000	$	479,760
2032 Notes	Level 1	500,000		448,405		500,000		449,380
2022 Revolving Facility	Level 3	305,000		308,182		250,000		246,578
2022 Term Facility	Level 3	62,500		62,655		125,000		125,242
Total principal amount		$	1,367,500	$	1,298,987	$	1,375,000	$	1,300,960
Total unamortized discounts and debt issuance costs		(8,397)				(9,027)
Total net carrying value of debt		$	1,359,103			$	1,365,973

STOCK-BASED COMPENSATION - Schedule of Stock Option Activity (Details) - Employee - $ / shares			3 Months Ended
	Nov. 01, 2024	Nov. 01, 2023	Nov. 30, 2024	Nov. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted (in shares)	200,693		200,693	242,371
Weighted average exercise price (in USD per share)	$ 458.80		$ 458.80	$ 436.57
Weighted average grant date fair value (in USD per share)	$ 133.10		$ 133.10	$ 132.60
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting (as a percent)	20.00%	20.00%
Vesting period (in years)	5 years	5 years
Expiration period (in years)	10 years	10 years

- 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.

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+ Details

DERIVATIVE INSTRUMENTS - Gross Notional Values (Details) - Cash flow hedging - Designated as hedging instrument - USD ($) $ in Thousands	Nov. 30, 2024	Aug. 31, 2024	Mar. 01, 2024	Mar. 01, 2022
Derivative [Line Items]
Gross notional value	$ 230,419	$ 288,155
Foreign currency forward contracts
Derivative [Line Items]
Gross notional value	180,419	188,155
Interest rate swap agreement
Derivative [Line Items]
Gross notional value	$ 50,000	$ 100,000	$ 200,000	$ 800,000

INTANGIBLE ASSETS (Tables)

3 Months Ended

Nov. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Identifiable Intangible Assets

The following table presents the estimated useful life, gross carrying amounts and accumulated amortization related to our identifiable intangible assets as of November 30, 2024 and August 31, 2024:


	November 30, 2024							August 31, 2024
(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	$	120,924	$	1,462,076	$	1,583,000	$	109,930	$	1,473,070
Client relationships	11 to 26	266,037		82,667		183,370		266,419		80,904		185,515
Developed technology	3 to 5	199,093		81,370		117,723		181,492		68,286		113,206
Software technology	3 to 12	178,579		117,606		60,973		143,685		117,189		26,496
Data content	7 to 20	83,497		38,886		44,611		84,374		38,725		45,649
Trade names	10	1,392		—		1,392		—		—		—

Non-compete agreements	4	290		103		187		290		85		205
Total		$	2,311,888	$	441,556	$	1,870,332	$	2,259,260	$	415,119	$	1,844,141

Schedule of Amortization Expense

The following table presents the amortization expense for our intangible assets which is included in Cost of services in our Consolidated Statements of Income:


	Three Months Ended
	November 30,
(in thousands)	2024		2023
Amortization expense	$	29,872	$	22,165

Schedule of Estimated Intangible Asset Amortization Expense

As of November 30, 2024, estimated intangible asset amortization expense for each of the next five years and thereafter is as follows:


(in thousands)	Estimated Amortization Expense
Fiscal Years Ended August 31,
2025 (remaining nine months)	$	92,467
2026	116,708
2027	91,107
2028	68,980
2029	64,344
Thereafter	1,436,726
Total	$	1,870,332

COMMITMENTS AND CONTINGENCIES	3 Months Ended
COMMITMENTS AND CONTINGENCIES	Nov. 30, 2024
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). Except for income tax contingencies, we accrue 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 an accrual for 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 these 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. Income tax contingencies related to uncertain tax positions are accounted for in accordance with applicable accounting guidance. Refer to Note 2, Summary of Significant Accounting Policies - Income Taxes in the Notes to the Consolidated Financial Statements included in Part II, Item 8. of our Annual Report on Form 10-K for the fiscal year ended August 31, 2024 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, 2024, we had total purchase obligations with suppliers and vendors of $382.6 million. Our total purchase obligations as of August 31, 2024 primarily related to hosting services, acquisition of data and, to a lesser extent, third-party software providers. For the three months ended November 30, 2024, there were no new material purchase obligations. We also have contractual obligations related to our lease liabilities and outstanding debt. Refer to Note 10, Leases and Note 11, Debt, for information regarding lease commitments and outstanding debt obligations, respectively. Letters of Credit From time to time, we are required to obtain letters of credit in the ordinary course of business. As of both November 30, 2024 and August 31, 2024, we had $0.4 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. We have not obtained any letters of credit under the 2022 Revolving Facility since its inception. Refer to Note 11, Debt, for information regarding the 2022 Revolving Facility. Contingencies Legal Matters In the normal course of our business, we are, or may be, engaged in various legal proceedings, claims, litigation and regulatory proceedings. In view of the uncertainty inherent in litigation and regulatory matters, we cannot predict the eventual outcome of such matters or the timing of their resolution, or in most cases reasonably estimate what the eventual judgments, damages, fines, penalties or impact of activity (if any) restrictions may be. While we cannot predict the outcome of these matters, based on information available at November 30, 2024, 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. On February 20, 2024, we received a "Notice of Selection for Audit" for sales tax for the period from July 1, 2021 through December 31, 2023. During the first quarter of fiscal 2025 and the fourth quarter of fiscal 2024, we took charges of approximately $2.4 million and $54.0 million, respectively, related to this dispute and made corresponding payments of $56.4 million to the Commonwealth during the first quarter of fiscal 2025. In addition to reserves taken in prior fiscal years, this brought our total charge and cash payments with respect to this matter to approximately $66.2 million. We entered into an agreement with the Commonwealth which fully resolved all matters relating to the Sales Taxes and do not anticipate taking additional charges with respect to this matter. 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.

FAIR VALUE MEASURES - Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands	Nov. 30, 2024	Nov. 05, 2024	Aug. 31, 2024	Aug. 31, 2023
Assets
Derivative instruments	$ 0		$ 2,619
Total assets measured at fair value	117,940		201,873
Liabilities
Derivative instruments	1,925		250
Contingent liabilities	16,930		4,193
Total liabilities measured at fair value	18,855		4,443
Platform Group Limited ("Irwin")
Liabilities
Contingent liabilities		$ 12,700
Acquisitions
Liabilities
Contingent liabilities				$ 7,900
Mutual funds
Assets
Mutual funds	69,623		69,619
Money market funds
Assets
Money market funds	48,317		129,635
Level 1
Assets
Derivative instruments	0		0
Total assets measured at fair value	48,317		129,635
Liabilities
Derivative instruments	0		0
Contingent liabilities	0		0
Total liabilities measured at fair value	0		0
Level 1 \| Mutual funds
Assets
Mutual funds	0		0
Level 1 \| Money market funds
Assets
Money market funds	48,317		129,635
Level 2
Assets
Derivative instruments	0		2,619
Total assets measured at fair value	69,623		72,238
Liabilities
Derivative instruments	1,925		250
Contingent liabilities	0		0
Total liabilities measured at fair value	1,925		250
Level 2 \| Mutual funds
Assets
Mutual funds	69,623		69,619
Level 2 \| Money market funds
Assets
Money market funds	0		0
Level 3
Assets
Derivative instruments	0		0
Total assets measured at fair value	0		0
Liabilities
Derivative instruments	0		0
Contingent liabilities	16,930		4,193
Total liabilities measured at fair value	16,930		4,193
Level 3 \| Mutual funds
Assets
Mutual funds	0		0
Level 3 \| Money market funds
Assets
Money market funds	$ 0		$ 0

SEGMENT INFORMATION - Narrative (Details)	3 Months Ended
SEGMENT INFORMATION - Narrative (Details)	Nov. 30, 2024 segment
Segment Reporting [Abstract]
Number of operating segments	3
Number of reportable segments	3

STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Nov. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-based Compensation Expense

The following table presents the stock-based compensation for the periods presented:


	Three Months Ended
	November 30,
(in thousands)	2024		2023
Stock-based compensation expense	$	13,592	$	14,310

Schedule of Stock Option Activity

The following table presents the employee stock options granted under the LTIP for the three months ended November 30, 2024 and November 30, 2023:


	Three Months Ended
	November 30,
	2024		2023
Stock options granted(1)	200,693		242,371
Weighted average exercise price	$	458.80	$	436.57
Weighted average grant date fair value	$	133.10	$	132.60

(1) Reflects the annual employee grant on November 1, 2024 and November 1, 2023, respectively which 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.

Schedule of Weighted Average Assumptions used for Employee Stock Options

As part of the November 1, 2024 annual employee grant, the estimated grant date fair value, using the binomial model, leveraged the following assumptions:


November 1, 2024 Annual Employee Grant Details
Stock options granted	200,693
Risk-free interest rate	4.31% - 4.87%

Expected life (years)	6.62

Expected volatility	24.49	%

Dividend yield	0.95%

Estimated fair value	$133.10
Exercise price	$458.80

Schedule of Restricted Stock Awards Activity

The following table presents the employee Restricted Stock Awards granted under the LTIP for the three months ended November 30, 2024 and November 30, 2023:


	Three Months Ended
	November 30,
	2024			2023
	Shares	Weighted Average Grant Date Fair Value Per Award		Shares	Weighted Average Grant Date Fair Value Per Award
RSUs Granted(1)	76,448	$	445.89	64,187	$	424.63
PSUs Granted(2)	33,756	$	445.97	36,860	$	424.63
Performance adjustment - PSUs(3)	7,364	$	424.01	14,472	$	306.33
Total Restricted Stock Awards	117,568			115,519

(1) Reflects the annual employee grant on November 1, 2024 and November 1, 2023, respectively which vest 20% annually on the anniversary date of the grant and are fully vested after five years.

(2) Reflects the annual employee grant on November 1, 2024 and November 1, 2023, respectively, which 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 our PSU awards depends on the level of our achievement of stated financial performance objectives. The achievement range was 0% to 200% for both the November 1, 2024 and November 1, 2023 annual grants.

(3) Additional PSUs were granted during the first quarter of fiscal 2025 and fiscal 2024 based on performance above the specified target level of achievement for PSUs granted on November 1, 2021 and November 9, 2020, respectively.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Nov. 30, 2024
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 unaudited Consolidated Financial Statements and Notes to the Consolidated Financial Statements included in this Quarterly Report on Form 10-Q are prepared in accordance with generally accepted accounting principles in the United States ("GAAP") for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all information and footnotes required by GAAP for annual financial statements. As such, the information in this Quarterly Report on Form 10-Q should be read in conjunction with the audited Consolidated Financial Statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended August 31, 2024. The accompanying unaudited Consolidated Financial Statements include our accounts and those of our wholly-owned subsidiaries; all intercompany activity and balances have been eliminated. In the opinion of management, the accompanying unaudited Consolidated Financial Statements include all normal recurring adjustments, transactions or events discretely impacting the interim periods considered necessary to present fairly our results of operations, financial position, cash flows and equity. Reclassifications During the three months ended November 30, 2024, Asset impairments were included within Selling, general and administrative ("SG&A") in the Consolidated Statements of Income and within Other, net in the Consolidated Statements of Cash Flows. We conformed the comparative figures for the three months ended November 30, 2023 to the current period presentation. During the three months ended November 30, 2024, Prepaid expenses and other assets, previously included within Other, net, were presented as a separate component of Cash Flows from Operating Activities in the Consolidated Statements of Cash Flows. We conformed the comparative figures for the three months ended November 30, 2023 to the current period 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, property, equipment and leasehold improvements ("PPE"), 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 our assets and liabilities. Actual results could differ materially from those estimates. 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, cash equivalents, accounts receivable, investments in mutual funds and derivative instruments. The maximum credit exposure of our cash, 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 their respective gross fair values as of the balance sheet date. Cash, Cash Equivalents and Investments We are exposed to credit risk on our cash, cash equivalents and investments in mutual funds in the event of default by the financial and governmental institutions with which we transact. We invest in a manner that aligns with our restrictive cash investment practices, preserves capital and provides liquidity, while minimizing our exposure to credit risk. We limit our exposure to credit loss by investing with multiple financial and governmental institutions that we believe are high-quality and credit-worthy. We have not experienced any credit losses relating to our cash, cash equivalents and investments in mutual funds. Accounts Receivable Our accounts receivable credit risk is dependent upon the financial stability of our individual clients. As of November 30, 2024 and August 31, 2024, our accounts receivable reserve was $15.8 million and $14.6 million, respectively. We do not require collateral from our clients; however, no single client represented more than 3.5% of our total revenues for the three months ended November 30, 2024 and November 30, 2023. Due to our large and geographically dispersed client base, our concentration of credit risk related to our accounts receivable is generally limited. 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 three months ended November 30, 2024 and November 30, 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 the three months ended November 30, 2024 and November 30, 2023. We maintain back-up facilities and other redundancies at our 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 the three months ended November 30, 2024 that had a material impact on our Consolidated Financial Statements. Accounting Pronouncements Not Yet Adopted Income Statement - Disaggregation of Income Statement Expenses In November 2024, the FASB issued Accounting Standards Update ("ASU") 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40) - Disaggregation of Income Statement Expenses. This ASU requires disaggregation of certain income statement expense captions into specified categories to be disclosed within the footnotes to the financial statements. This ASU does not change the expense captions on the income statement. The amendments in this ASU are to be applied prospectively, although retrospective application is permitted, and are effective for our annual financial statements starting in fiscal 2028 and interim periods starting in fiscal 2029. Early adoption is permitted. This ASU is not expected to have a material impact on our Consolidated Financial Statements. We are currently assessing the impact of the new requirements on our disclosures. U.S. Securities and Exchange Commission ("SEC") Disclosures - The Enhancement and Standardization of Climate-Related Disclosures for Investors In March 2024, the SEC adopted a final rule under SEC Release Nos. 33-11275 and 34-99678, The Enhancement and Standardization of Climate-Related Disclosures for Investors, which would require disclosure of certain climate-related information in various filings with the SEC. In April 2024, the SEC stayed implementation of the final rule pending completion of judicial review. We are currently assessing the potential impact of the rule on our disclosures. Codification Improvements - Amendments to Remove References to the Concepts Statements In March 2024, the FASB issued ASU 2024-02, Codification Improvements - Amendments to Remove References to the Concepts Statements. This ASU amends the FASB Accounting Standards Codification ("the Codification") to remove references to various FASB Concepts Statements and impacts a variety of topics in the Codification. The amendments apply to all reporting entities within the scope of the affected accounting guidance, but in most instances the references removed are extraneous and not required to understand or apply the guidance. The amendments in this ASU are to be applied prospectively, although retrospective application is permitted, and are effective for our interim and annual financial statements starting in fiscal 2026. Early adoption is permitted. This ASU is not expected to have a material impact on our Consolidated Financial Statements or related disclosures. Income Taxes - Improvements to Income Tax Disclosures In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures. This ASU enhances annual income tax disclosures primarily related to our effective tax rate reconciliation and income taxes paid. The amendments in this ASU are to be applied prospectively, although retrospective application is permitted, and are effective for our annual financial statements starting in fiscal 2026. Early adoption is permitted. This ASU is not expected to have a material impact on our Consolidated Financial Statements. We are currently assessing the impact of the new requirements on our disclosures. Segment Reporting - Improvements to Reportable Segment Disclosures In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures. This ASU enhances segment disclosures primarily related to significant segment expenses for both interim and annual periods. The amendments in this ASU are to be applied retrospectively and are effective for our annual financial statements starting in fiscal 2025 and interim periods starting in fiscal 2026. Early adoption is permitted. This ASU is not expected to have a material impact on our Consolidated Financial Statements. We are currently assessing the impact of the new requirements on our disclosures. Disclosure Improvements - Codification Amendment in Response to the SEC's Disclosure Update and Simplification Initiative In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements - Codification Amendment in Response to the SEC’s Disclosure Update and Simplification Initiative. The ASU incorporates several disclosure and presentation requirements currently residing in the SEC Regulations S-X and S-K. The amendments will be applied prospectively and are effective when the SEC removes the related requirements from Regulations S-X or S-K. Any amendments the SEC does not remove by June 30, 2027 will not be effective. As we are currently subject to these SEC requirements, this ASU is not expected to have a material impact on our Consolidated Financial Statements or related disclosures. No other new accounting pronouncements issued or effective during the three months ended November 30, 2024 have had, or are expected to have, a material impact on our Consolidated Financial Statements.

STOCK-BASED COMPENSATION - Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2024	Nov. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-based compensation expense	$ 13,592	$ 14,310

LEASES (Tables)

3 Months Ended

Nov. 30, 2024

Leases [Abstract]

Schedule of Future Minimum Lease Commitments

The following table presents our future minimum lease payments and a reconciliation to the combined Current lease liabilities and Long-term lease liabilities in the Consolidated Balance Sheets as of November 30, 2024:


(in thousands)	Minimum Lease Payments
Fiscal Years ended August 31,
2025 (remaining nine months)	$	29,747
2026	38,036
2027	36,364
2028	32,056
2029	26,250
Thereafter	60,475
Total minimum lease payments	$	222,928
Less: Imputed interest	30,122
Total lease liabilities	$	192,806

Schedule of Lease Cost and Other Information Related to Leases

The following table includes components of our occupancy costs:


	Three Months Ended
	November 30,
(in thousands)	2024		2023
Operating lease costs(1)	$	7,572	$	7,618
Variable lease costs(2)	$	4,888	$	4,489

(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 are not fixed 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 weighted average remaining lease term and weighted average discount rate related to our operating leases recorded on the Consolidated Balance Sheets:


	As of November 30, 2024		As of August 31, 2024
Weighted average remaining lease term (in years)	6.7		6.9
Weighted average discount rate (IBR)	4.6	%	4.6	%

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


	Three Months Ended
	November 30,
(in thousands)	2024		2023
Cash paid for amounts included in the measurement of lease liabilities	$	9,762	$	9,850
Lease ROU assets obtained in exchange for lease liabilities(1)	$	—	$	911
Reductions to ROU assets resulting from reductions to lease liabilities(2)	$	(5,529)	$	—

(1)Primarily includes new lease arrangements entered into during the respective period 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.

FAIR VALUE MEASURES

3 Months Ended

Nov. 30, 2024

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. When pricing an asset or liability, the inputs to these valuation methodologies consider market comparable information, taking into account the principal or most advantageous market in which we would transact.

Fair Value Hierarchy

The accounting guidance for fair value measurements establishes a three-level 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. The hierarchy ranks the reliability of the inputs, based upon the lowest level of input that is significant to the fair value measurement, used to determine fair value. 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. We have categorized our assets and liabilities 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.

The assumptions used in determining fair value represent our best estimates, but these estimates involve inherent uncertainties and the application of our judgment. As a result, if factors change, our fair value estimates could be materially different in the future and may adversely affect our business and financial results.

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


	Fair Value Measurements as of November 30, 2024
(in thousands)	Level 1		Level 2		Level 3		Total
Assets
Money market funds(1)	$	48,317	$	—	$	—	$	48,317
Mutual funds(2)	—		69,623		—		69,623

Derivative instruments(3)	—		—		—		—
Total assets measured at fair value	$	48,317	$	69,623	$	—	$	117,940

Liabilities
Derivative instruments(3)	$	—	$	1,925	$	—	$	1,925
Contingent liabilities(4)	—		—		16,930		16,930
Total liabilities measured at fair value	$	—	$	1,925	$	16,930	$	18,855


	Fair Value Measurements as of August 31, 2024
(in thousands)	Level 1		Level 2		Level 3		Total
Assets
Money market funds(1)	$	129,635	$	—	$	—	$	129,635
Mutual funds(2)	—		69,619		—		69,619

Derivative instruments(3)	—		2,619		—		2,619
Total assets measured at fair value	$	129,635	$	72,238	$	—	$	201,873

Liabilities
Derivative instruments(3)	$	—	$	250	$	—	$	250
Contingent liability(4)	—		—		4,193		4,193
Total liabilities measured at fair value	$	—	$	250	$	4,193	$	4,443

(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 include our PPE, lease right-of-use ("ROU") assets, goodwill and intangible assets. These assets are assessed for impairment whenever events or circumstances indicate their carrying value may not be fully recoverable, and at least annually for goodwill. 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.

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

Our debt is comprised of our Senior Notes and 2022 Credit Facilities. 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 11, Debt for definitions of, and more information on, our Senior Notes and 2022 Credit Facilities.

The following table summarizes information on our outstanding debt as of November 30, 2024 and August 31, 2024:


		November 30, 2024				August 31, 2024
(in thousands)	Fair Value Hierarchy	Principal Amount		Estimated Fair Value		Principal Amount		Estimated Fair Value
2027 Notes	Level 1	$	500,000	$	479,745	$	500,000	$	479,760
2032 Notes	Level 1	500,000		448,405		500,000		449,380
2022 Revolving Facility	Level 3	305,000		308,182		250,000		246,578
2022 Term Facility	Level 3	62,500		62,655		125,000		125,242
Total principal amount		$	1,367,500	$	1,298,987	$	1,375,000	$	1,300,960
Total unamortized discounts and debt issuance costs		(8,397)				(9,027)
Total net carrying value of debt		$	1,359,103			$	1,365,973

- 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

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-Name Accounting Standards Codification
-Section 55
-Paragraph 107
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-Topic 820
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

DEBT (Tables)

3 Months Ended

Nov. 30, 2024

Debt Disclosure [Abstract]

Schedule of Debt Obligations

Our debt obligations as of November 30, 2024 and August 31, 2024 consisted of the following:


(in thousands)	Issuance Date	Contractual Maturity Date	November 30, 2024		August 31, 2024
Current debt
2022 Term Facility	3/1/2022	3/1/2025	$	62,500	$	125,000
Total unamortized debt issuance costs on Current debt			(40)		(158)
Total Current debt			$	62,460	$	124,842

Long-term debt

2022 Revolving Facility	3/1/2022	3/1/2027	$	305,000	$	250,000
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			(8,357)		(8,869)
Total Long-term debt			$	1,296,643	$	1,241,131

Total debt			$	1,359,103	$	1,365,973

Schedule of Annual Maturities of Debt Obligations

As of November 30, 2024, annual maturities on our debt obligations, based on contractual maturity dates, were as follows:


(in thousands)	Maturities
Fiscal Years ended August 31,
2025 (remaining nine months)	$	62,500
2026	—
2027	805,000
2028	—
2029	—
Thereafter	500,000
Total	$	1,367,500

Schedule of Interest Expense

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


	Three Months Ended
	November 30,
(in thousands)	2024		2023
Interest expense on outstanding debt(1)	$	14,367	$	16,729

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

INTANGIBLE ASSETS - Identifiable Intangible Assets (Details) - USD ($) $ in Thousands	Nov. 30, 2024	Aug. 31, 2024
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 2,311,888	$ 2,259,260
Accumulated Amortization	441,556	415,119
Net Carrying Amount	$ 1,870,332	1,844,141
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	120,924	109,930
Net Carrying Amount	1,462,076	1,473,070
Client relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	266,037	266,419
Accumulated Amortization	82,667	80,904
Net Carrying Amount	$ 183,370	185,515
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	$ 199,093	181,492
Accumulated Amortization	81,370	68,286
Net Carrying Amount	$ 117,723	113,206
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
Software technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 178,579	143,685
Accumulated Amortization	117,606	117,189
Net Carrying Amount	$ 60,973	26,496
Software technology \| Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (years)	3 years
Software technology \| Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (years)	12 years
Data content
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 83,497	84,374
Accumulated Amortization	38,886	38,725
Net Carrying Amount	$ 44,611	45,649
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
Trade names
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (years)	10 years
Gross Carrying Amount	$ 1,392	0
Accumulated Amortization	0	0
Net Carrying Amount	$ 1,392	0
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (years)	4 years
Gross Carrying Amount	$ 290	290
Accumulated Amortization	103	85
Net Carrying Amount	$ 187	$ 205

EARNINGS PER SHARE (Tables)

3 Months Ended

Nov. 30, 2024

Earnings Per Share [Abstract]

Schedule of Earnings Per Share

The following is a reconciliation of our Basic and Diluted EPS computations:


	Three Months Ended
	November 30,
(in thousands, except per share data)	2024		2023
Numerator
Net income used for calculating Basic EPS and Diluted EPS	$	150,022	$	148,555
Denominator
Weighted average common shares used in the calculation of Basic EPS	38,005		38,016
Common stock equivalents associated with stock-based compensation plans	512		627
Shares used in the calculation of Diluted EPS	38,517		38,643
Basic EPS	$	3.95	$	3.91
Diluted EPS	$	3.89	$	3.84

Schedule of Awards Excluded from Diluted EPS

The following table presents the potential common shares that were excluded from Diluted EPS as they relate to stock-based awards that were antidilutive or subject to performance conditions which have not been satisfied by the end of the reporting period:


	Three Months Ended
	November 30,
(in thousands)	2024	2023
Stock options	721	—
Restricted stock units and Performance share units	98	96

SEGMENT INFORMATION - Segment Total Assets (Details) - USD ($) $ in Thousands	Nov. 30, 2024	Aug. 31, 2024
Segment Reporting Information [Line Items]
Total assets	$ 4,048,585	$ 4,055,040
Americas
Segment Reporting Information [Line Items]
Total assets	3,301,189	3,178,800
EMEA
Segment Reporting Information [Line Items]
Total assets	527,332	600,206
Asia Pacific
Segment Reporting Information [Line Items]
Total assets	$ 220,064	$ 276,034

- Definition

Amount of asset recognized for present right to economic benefit.

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+ Details

GOODWILL - Narrative (Details)	3 Months Ended
GOODWILL - Narrative (Details)	Aug. 31, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill impairment loss	$ 0

REVENUE RECOGNITION

3 Months Ended

Nov. 30, 2024

Revenue from Contract with Customer [Abstract]

REVENUE RECOGNITION

We derive most of our revenues by delivering client access to our multi-asset class solutions powered by our platform of connected data and technology that is 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. We also derive revenues through the CGS platform, a subscription-based service that provides access to a database of universally recognized security identifiers and related descriptive data for issuers and their financial instruments (referred to as the "Identifier Platform").

The majority of each of our contracts with clients, whether for Hosted Platform or Identifier Platform services, represents 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 the promise to the client is to provide daily access to each of these data and analytics platforms over the associated contractual term. These platforms provide integrated financial information, analytical applications and industry-leading service for the investment community. Based on the nature of the products and services 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 respective platform. We recognize revenue for the majority of these platforms in accordance with the 'as invoiced' practical expedient, because the consideration that we have the right to invoice corresponds directly with the value of our performance to date. There are no significant judgments that would impact the timing of revenue recognition.

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 our performance obligations completed to date. Therefore, we do not disclose the value of the remaining unsatisfied performance obligations.

Disaggregated Revenues

We disaggregate revenues from our client contracts by segment based on the geographic region where the sale originated. Our business segmentation by geography is aligned with the operational and economic characteristics of our business. Refer to Note 16, Segment Information, for further information.

The following table presents revenues disaggregated by segment:


	Three Months Ended
	November 30,
(in thousands)	2024		2023
Americas	$	367,242	$	348,367
EMEA	143,725		139,561
Asia Pacific	57,700		54,288
Total Revenues	$	568,667	$	542,216

- 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.

+ References

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+ Details

STOCK-BASED COMPENSATION

3 Months Ended

Nov. 30, 2024

Share-Based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

Our stock-based compensation expense consists of:

•Stock options, restricted stock units ("RSUs") and performance share units ("PSUs") issued to eligible employees under the FactSet Research Systems Inc. Stock Option and Award Plan, as Amended and Restated (the "LTIP").

•Stock options and RSUs issued to non-employee members of the Board of Directors ("non-employee directors") under the FactSet Research Systems Inc. Non-Employee Directors’ Stock Option and Award Plan, as Amended and Restated (the "Director Plan").

•Common stock purchased by eligible employees under the FactSet Research Systems Inc. Employee Stock Purchase Plan, as Amended and Restated (the "ESPP").

We measure and recognize stock-based compensation expense for all stock-based awards and purchases of common stock under the ESPP based on their estimated grant date fair value.

We utilize a lattice-binomial option-pricing model ("binomial model") to estimate the grant date fair value for our employee stock options and the Black-Scholes model to estimate the grant date fair value 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 (collectively, "Restricted Stock Awards"), the grant date fair value is measured by reducing the grant date price of our common stock by the present value of expected future dividend payments 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 pursuant to our PSU awards depends on the level of our achievement of stated financial performance objectives.

Stock-based compensation expense for stock option and RSU awards is recognized over the requisite service period using the straight-line method. For stock options and RSU grants, the amount of stock-based compensation expense recognized on any date is at least equal to the vested portion of the award on that date.

Our PSUs require us to make assumptions regarding the probability of achieving specified performance levels established at the time of grant. We recognize stock-based compensation expense for PSUs 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, stock-based compensation expense is recognized on a straight-line basis over the offering period.

Our stock-based awards are generally 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.

Stock-based Compensation Expense

The following table presents the stock-based compensation for the periods presented:


	Three Months Ended
	November 30,
(in thousands)	2024		2023
Stock-based compensation expense	$	13,592	$	14,310

There were no stock-based compensation costs capitalized in any periods presented. As of November 30, 2024, $161.6 million of total unrecognized compensation expense related to non-vested stock-based awards is expected to be recognized over the remaining weighted average vesting period of 3.4 years.

Employee Stock Option Awards

Our annual employee stock option grant, made during the first quarter of each fiscal year, makes up the majority of our employee stock options granted under the LTIP in each fiscal year.

The following table presents the employee stock options granted under the LTIP for the three months ended November 30, 2024 and November 30, 2023:


	Three Months Ended
	November 30,
	2024		2023
Stock options granted(1)	200,693		242,371
Weighted average exercise price	$	458.80	$	436.57
Weighted average grant date fair value	$	133.10	$	132.60

As part of the November 1, 2024 annual employee grant, the estimated grant date fair value, using the binomial model, leveraged the following assumptions:


November 1, 2024 Annual Employee Grant Details
Stock options granted	200,693
Risk-free interest rate	4.31% - 4.87%

Expected life (years)	6.62

Expected volatility	24.49	%

Dividend yield	0.95%

Estimated fair value	$133.10
Exercise price	$458.80

Employee Restricted Stock Awards

Our annual employee Restricted Stock Awards grant, made during the first quarter of each fiscal year, makes up the majority of our employee Restricted Stock Awards granted under the LTIP in each fiscal year. These awards entitle the holders to shares of common stock as the Restricted Stock Awards vest, but not to dividends declared on the underlying shares while the stock, subject to the Restricted Stock Awards, is unvested.

The following table presents the employee Restricted Stock Awards granted under the LTIP for the three months ended November 30, 2024 and November 30, 2023:


	Three Months Ended
	November 30,
	2024			2023
	Shares	Weighted Average Grant Date Fair Value Per Award		Shares	Weighted Average Grant Date Fair Value Per Award
RSUs Granted(1)	76,448	$	445.89	64,187	$	424.63
PSUs Granted(2)	33,756	$	445.97	36,860	$	424.63
Performance adjustment - PSUs(3)	7,364	$	424.01	14,472	$	306.33
Total Restricted Stock Awards	117,568			115,519

(1) Reflects the annual employee grant on November 1, 2024 and November 1, 2023, respectively which vest 20% annually on the anniversary date of the grant and are fully vested after five years.

Stock-based Awards Available for Grant

As of November 30, 2024, we had 3.3 million employee stock-based awards available for grant under the LTIP and 0.2 million non-employee director stock-based awards available for grant under the Director Plan. In accordance with the LTIP and Director Plan, each Restricted Stock Award granted or canceled/forfeited is equivalent to 2.5 shares deducted from or added back to, respectively, the aggregate number of stock-based awards available for grant.

DERIVATIVE INSTRUMENTS - Pre-Tax Effect of Cash Flow Hedging Relationships (Details) - Cash flow hedging - Designated as hedging instrument - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2024	Nov. 30, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Recognized in AOCL on Derivatives	$ (4,149)	$ 227
Gain (Loss) Reclassified from AOCL into Income	145	2,469
Foreign currency forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Recognized in AOCL on Derivatives	(4,135)	217
Foreign currency forward contracts \| SG&A
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Reclassified from AOCL into Income	199	365
Interest rate swap agreement
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Recognized in AOCL on Derivatives	(14)	10
Interest rate swap agreement \| Interest expense
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Reclassified from AOCL into Income	$ (54)	$ 2,104

Consolidated Statements of Comprehensive Income - Unaudited (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2024	Nov. 30, 2023
Statement of Comprehensive Income [Abstract]
Net unrealized gain (loss) on cash flow hedges, tax expense (benefit)	$ (1,105)	$ (588)

DESCRIPTION OF BUSINESS	3 Months Ended
DESCRIPTION OF BUSINESS	Nov. 30, 2024
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 technologies that deliver financial intelligence to investment professionals worldwide. Our platform delivers expansive data, sophisticated analytics and flexible technology used by global financial professionals to power their critical investment workflows. As of November 30, 2024, we had more than 8,200 clients comprised of over 218,000 investment professionals, including institutional asset managers, bankers, wealth managers, asset owners, partners, hedge funds, corporate users, and private equity and venture capital professionals. Our revenues are primarily derived from subscriptions to our multi-asset class data and solutions powered by our connected data and technology platform. Our products and services include workstations, portfolio analytics and enterprise data solutions. We also offer managed services that operate as an extension of our clients' internal teams to support data, performance, risk and reporting workflows. We drive our business based on 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 and analyze, monitor and manage their portfolios. Our solutions span the investment lifecycle 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"). The CUSIP Global Services ("CGS") business supports security master files relied on by the investment industry for critical front, middle and back-office functions. All of our platforms and solutions are supported by our dedicated client service team. We operate our business through three reportable segments ("segments"): the Americas, EMEA and Asia Pacific. Within each segment, we offer data, products and analytical applications by firm type: Institutional Buyside, Dealmakers, Wealth, and Partnerships and CGS. Refer to Note 16, Segment Information for further discussion on our segments.

COVER - shares	3 Months Ended
COVER - shares	Nov. 30, 2024	Dec. 31, 2024
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Nov. 30, 2024
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		38,030,046
Entity Central Index Key	0001013237
Current Fiscal Year End Date	--08-31
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q1
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

STOCKHOLDERS' EQUITY - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Nov. 30, 2024	Aug. 31, 2024	Nov. 30, 2023	Aug. 31, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total AOCL	$ 1,991,561	$ 1,912,460	$ 1,700,740	$ 1,619,930
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total AOCL	(100,421)	(79,613)	$ (86,887)	$ (87,141)
Accumulated unrealized gains (losses) on cash flow hedges, net of tax
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total AOCL	(1,346)	1,843
Accumulated foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total AOCL	$ (99,075)	$ (81,456)

- 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

INCOME TAXES

3 Months Ended

Nov. 30, 2024

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 carrying amounts and the tax basis of our assets and liabilities using currently enacted tax rates.

Provision for Income Taxes and Effective Tax Rate

The provision for income taxes and the effective tax rate are as follows:


	Three Months Ended
	November 30,
(in thousands)	2024			2023
Income before income taxes	$	179,739		$	175,196
Provision for income taxes	$	29,717		$	26,641
Effective tax rate	16.5		%	15.2		%

Our provision for income taxes for interim periods is calculated by applying an estimate of our annual effective tax rate to our quarter and year-to-date results, adjusted for discrete items recorded in the period. The computation of the annual estimated effective tax rate at each interim period requires certain estimates and assumptions including, but not limited to, the expected pretax income (or loss) for the year, projections of the proportion of income (or loss) earned and taxed in foreign jurisdictions, permanent and temporary differences and the likelihood of recovering deferred tax assets, then adjusted for any discrete items. On a quarterly basis, we update the estimate of our annual effective tax rate as new events occur, assumptions change, or additional information is obtained.

Our effective tax rate for the three months ended November 30, 2024 was 16.5%, compared with 15.2% for the three months ended November 30, 2023. This increase was primarily due to the revaluation of a deferred tax asset associated with a foreign tax rate change.

For the periods presented, our effective tax rates were lower than the statutory federal income tax rate primarily due to excess tax benefits from stock-based compensation, utilization of foreign tax credits, and research and development ("R&D") tax credits, partially offset by our net state taxes.

Base Erosion and Profit Shifting Pillar Two

The Organization for Economic Co-operation and Development released Base Erosion and Profit Shifting Pillar Two rules (“Pillar Two”) to introduce a global minimum corporate tax of 15% for companies with global revenues and profits above certain thresholds. Certain aspects of Pillar Two are effective for tax years beginning on or after January 1, 2024. Although the U.S. has not yet enacted legislation to adopt Pillar Two, certain countries in which we operate have already adopted, or are in the process of adopting, legislation to implement Pillar Two. After considering the applicable tax law changes associated with Pillar Two legislation, we determined there was no material impact to our provision for income taxes for the three months ended November 30, 2024.

- Definition

The entire disclosure for income tax.

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+ Details

STOCKHOLDERS' EQUITY - Dividends Declared (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Nov. 30, 2024	Nov. 30, 2023
Equity [Abstract]
Dividends per Share of Common Stock (in USD per share)	$ 1.04	$ 0.98
Total Amount	$ 39,572	$ 37,299

Consolidated Balance Sheets - Unaudited (Parenthetical) - USD ($) $ in Thousands	Nov. 30, 2024	Aug. 31, 2024
Statement of Financial Position [Abstract]
Accounts receivable reserve	$ 15,755	$ 14,581
Preferred stock, par value (in USD 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 USD per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	150,000,000	150,000,000
Common stock, issued (in shares)	42,830,024	42,598,915
Common stock, outstanding (in shares)	38,049,811	37,952,270
Treasury stock (in shares)	4,780,213	4,646,645

EARNINGS PER SHARE - Awards Excluded from Diluted EPS (Details) - shares shares in Thousands	3 Months Ended
	Nov. 30, 2024	Nov. 30, 2023
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	721	0
Restricted stock units and Performance share units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	98	96

STOCKHOLDERS' EQUITY - Share Repurchases (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2024	Nov. 30, 2023
Equity [Abstract]
Repurchases of common stock under the share repurchase program (in shares)	104,475	135,950
Total cost of common stock repurchased under the share repurchase program	$ 48,790	$ 59,910
Repurchases of common stock to satisfy tax withholding requirements due upon vesting of stock-based awards (in shares)	29,093	30,384
Total cost of repurchases of common stock to satisfy withholding requirements due upon vesting of stock-based awards	$ 13,385	$ 13,504
Excise tax on share repurchases	$ 807

EARNINGS PER SHARE

3 Months Ended

Nov. 30, 2024

Earnings Per Share [Abstract]

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 period. Diluted earnings per common share ("Diluted EPS") is calculated by using the treasury stock method which assumes the issuance of common stock for all potentially dilutive stock-based awards.

The following is a reconciliation of our Basic and Diluted EPS computations:


	Three Months Ended
	November 30,
(in thousands, except per share data)	2024		2023
Numerator
Net income used for calculating Basic EPS and Diluted EPS	$	150,022	$	148,555
Denominator
Weighted average common shares used in the calculation of Basic EPS	38,005		38,016
Common stock equivalents associated with stock-based compensation plans	512		627
Shares used in the calculation of Diluted EPS	38,517		38,643
Basic EPS	$	3.95	$	3.91
Diluted EPS	$	3.89	$	3.84


	Three Months Ended
	November 30,
(in thousands)	2024	2023
Stock options	721	—
Restricted stock units and Performance share units	98	96

DERIVATIVE INSTRUMENTS (Tables)

3 Months Ended

Nov. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule 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 as of November 30, 2024 and August 31, 2024:


	November 30, 2024				August 31, 2024
(in thousands)	Local Currency Amount		Notional Contract Amount (USD)		Local Currency Amount		Notional Contract Amount (USD)
British Pound Sterling	£	43,500	$	55,341	£	41,200	$	52,372
Indian Rupee	Rs	4,347,919	51,300		Rs	4,651,351	55,200
Euro	€	36,700	40,178		€	43,800	48,183
Philippine Peso	₱	1,952,008	33,600		₱	1,850,674	32,400
Total			$	180,419			$	188,155

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


(in thousands)	Gross Notional Value
(in thousands)	November 30, 2024		August 31, 2024
Foreign currency forward contracts	$	180,419	$	188,155
Interest rate swap agreement	50,000		100,000
Total cash flow hedges	$	230,419	$	288,155

Schedule 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	November 30, 2024		August 31, 2024		Balance Sheet Classification	November 30, 2024		August 31, 2024
Foreign currency forward contracts	Prepaid expenses and other current assets	$	—	$	2,619	Accounts payable and accrued expenses	$	1,842	$	127
Interest rate swap agreement	Prepaid expenses and other current assets	—		—		Accounts payable and accrued expenses	83		123

Total cash flow hedges		$	—	$	2,619		$	1,925	$	250

Schedule of Pre-tax Effect of Derivative Instruments in Cash Flow Hedging Relationships

The following table provides the pre-tax effect of cash flow hedge accounting on our AOCL for the three months ended November 30, 2024 and November 30, 2023:


	Gain (Loss) Recognized in AOCL on Derivatives				Location of Gain (Loss) Reclassified from AOCL into Income	Gain (Loss) Reclassified from AOCL into Income
(in thousands)	November 30,					November 30,
Derivatives in Cash Flow Hedging Relationships	2024		2023			2024		2023
Foreign currency forward contracts	$	(4,135)	$	217	SG&A	$	199	$	365
Interest rate swap agreement	(14)		10		Interest expense	(54)		2,104
Total cash flow hedges	$	(4,149)	$	227		$	145	$	2,469

Consolidated Statements of Cash Flows - Unaudited - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2024	Nov. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 150,022	$ 148,555
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	35,717	27,068
Amortization of lease right-of-use assets	7,572	7,618
Stock-based compensation expense	13,592	14,310
Deferred income taxes	21,943	6,703
Other, net	890	3,860
Changes in assets and liabilities, net of effects of acquisitions
Accounts receivable	(23,377)	(9,758)
Prepaid expenses and other assets	(5,697)	(7,164)
Accounts payable and accrued expenses	(38,793)	31,284
Accrued compensation	(40,663)	(60,348)
Deferred revenues	(7,269)	(2,542)
Taxes payable, net of prepaid taxes	(17,806)	5,341
Lease liabilities, net	(9,759)	(9,783)
Net cash provided by operating activities	86,372	155,144
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property, equipment, leasehold improvements and capitalized internal-use software	(25,874)	(16,466)
Acquisition of businesses, net of cash and cash equivalents acquired	(115,199)	0
Purchases of investments	(3,987)	(8,753)
Net cash provided by (used in) investing activities	(145,060)	(25,219)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from debt	55,000	0
Repayments of debt	(62,500)	(62,500)
Dividend payments	(39,246)	(37,053)
Proceeds from employee stock plans	38,850	28,404
Repurchases of common stock	(48,790)	(59,910)
Other financing activities	(13,385)	(13,505)
Net cash provided by (used in) financing activities	(70,071)	(144,564)
Effect of exchange rate changes on cash and cash equivalents	(5,052)	1,050
Net increase (decrease) in cash and cash equivalents	(133,811)	(13,589)
Cash and cash equivalents at beginning of period	422,979	425,444
Cash and cash equivalents at end of period	$ 289,168	$ 411,855

STOCKHOLDERS' EQUITY

3 Months Ended

Nov. 30, 2024

Equity [Abstract]

STOCKHOLDERS' EQUITY

The following table presents the shares of common stock repurchased under our share repurchase program and acquired from holders of our stock-based awards upon vesting to satisfy tax withholding requirements:

Share Repurchases


	Three Months Ended
	November 30,
(in thousands, except share data)	2024		2023
Repurchases of common stock under the share repurchase program	104,475		135,950
Total cost of common stock repurchased under the share repurchase program(1)	$	48,790	$	59,910
Repurchases of common stock to satisfy tax withholding requirements due upon vesting of stock-based awards	29,093		30,384
Total cost of repurchases of common stock to satisfy withholding requirements due upon vesting of stock-based awards	$	13,385	$	13,504

(1) For the three months ended November 30, 2024, amount excludes a 1% excise tax of $0.8 million on corporate stock repurchases required under the Inflation Reduction Act of 2022.

We may repurchase shares of our common stock under our share repurchase program from time-to-time in the open market or via privately negotiated transactions, subject to market conditions. There is no defined number of shares to be repurchased over a specified timeframe through the life of our share repurchase program. On September 17, 2024, our Board of Directors authorized up to $300 million for share repurchases during fiscal 2025. As of November 30, 2024, $251.2 million remained authorized under our share repurchase program. Refer to Part II, Item 2. Unregistered Sales of Equity Securities and Use of Proceeds, of this Quarterly Report on Form 10-Q for further discussion on our share repurchase program.

In addition to our share repurchase program, we also acquire shares of our common stock from holders of our stock-based awards to satisfy withholding tax requirements due at vesting. Shares acquired from these holders do not reduce the amount authorized for repurchase under the share repurchase program.

Equity-based Awards

Refer to Note 15, Stock-Based Compensation for more information on equity awards issued during the three months ended November 30, 2024 and November 30, 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 2025

First Quarter

1.04

November 29, 2024

39,572

December 19, 2024

Fiscal 2024

First Quarter

0.98

November 30, 2023

37,299

December 21, 2023

Future cash dividend payments are subject to final determination by our Board of Directors and will depend on our earnings, capital requirements, financial condition and other relevant factors.

Accumulated Other Comprehensive Loss

The components of AOCL as of November 30, 2024 and August 31, 2024 were as follows:


(in thousands)	November 30, 2024		August 31, 2024
Accumulated unrealized gains (losses) on cash flow hedges, net of tax	$	(1,346)	$	1,843
Accumulated foreign currency translation adjustments	(99,075)		(81,456)
Total AOCL	$	(100,421)	$	(79,613)

- Definition

The entire disclosure for equity.

+ References

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-Paragraph 13
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+ Details

GOODWILL

3 Months Ended

Nov. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL

Changes in the carrying value of goodwill by segment for the three months ended November 30, 2024 are as follows:


(in thousands)	Americas		EMEA		Asia Pacific		Total
Balance at August 31, 2024	$	704,454	$	304,442	$	2,233	$	1,011,129
Acquisitions	92,310		—		—		92,310
Foreign currency translations	(643)		(10,541)		(53)		(11,237)
Balance at November 30, 2024	$	796,121	$	293,901	$	2,180	$	1,092,202

Goodwill is not amortized as it is estimated to have an indefinite life. Goodwill impairment is tested at the reporting unit level, which is consistent with our reportable segments. We test goodwill annually during the fourth quarter of each fiscal year or more frequently if events and circumstances occur indicating that it is more likely than not that the fair value of any one of our reporting units is less than its respective carrying value. 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.

We tested our goodwill for impairment during the fourth quarter of fiscal 2024 utilizing a qualitative analysis. We 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. No events or circumstances were identified during the three months ended November 30, 2024 that would indicate it is more likely than not that goodwill has been impaired.

ACQUISITIONS (Tables)

3 Months Ended

Nov. 30, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [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

3,574

Amortizable intangible assets

Trade names

1,400

10 years

Straight-line

Software technology

36,100

12 years

Straight-line

Client relationships

1,700

11 years

Straight-line

Goodwill

92,310

Current liabilities

Deferred revenues

(4,244)

Other current liabilities

(646)

Other liabilities

(7,002)

Total purchase price

123,192

DERIVATIVE INSTRUMENTS - Fair Value Amount of Derivative Instruments (Details) - USD ($) $ in Thousands	Nov. 30, 2024	Aug. 31, 2024
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Assets	$ 0	$ 2,619
Derivative Liabilities	1,925	250
Cash flow hedging \| Designated as hedging instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Assets	0	2,619
Derivative Liabilities	$ 1,925	$ 250
Cash flow hedging \| Designated as hedging instrument \| Foreign currency forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Assets, location	Prepaid expenses and other current assets	Prepaid expenses and other current assets
Derivative Assets	$ 0	$ 2,619
Derivative Liabilities, location	Accounts payable and accrued expenses	Accounts payable and accrued expenses
Derivative Liabilities	$ 1,842	$ 127
Cash flow hedging \| Designated as hedging instrument \| Interest rate swap agreement
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Assets, location	Prepaid expenses and other current assets	Prepaid expenses and other current assets
Derivative Assets	$ 0	$ 0
Derivative Liabilities, location	Accounts payable and accrued expenses	Accounts payable and accrued expenses
Derivative Liabilities	$ 83	$ 123

- Definition

Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset.

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+ Details

- Definition

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+ Details

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

3 Months Ended

Nov. 30, 2024

Nov. 30, 2023

Statement of Comprehensive Income [Abstract]

Net income

$ 150,022

$ 148,555

Other comprehensive income (loss), net of tax

Net unrealized gain (loss) on cash flow hedges

^[1]

(3,189)

(1,654)

Foreign currency translation adjustment gains (losses)

(17,619)

1,908

Other comprehensive income (loss)

(20,808)

254

Comprehensive income

$ 129,214

$ 148,809

[1]	Presented net of a tax benefit of $1,105 thousand and $588 thousand for the three months ended November 30, 2024 and November 30, 2023, respectively.

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

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

+ References

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+ Details

STOCK-BASED COMPENSATION - Narrative (Details) shares in Millions	3 Months Ended
	Nov. 30, 2024 USD ($) shares	Nov. 30, 2023 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation capitalized \| $	$ 0	$ 0
Unamortized stock-based compensation \| $	$ 161,600,000
Weighted average vesting period (in years)	3 years 4 months 24 days
Restricted stock award granted or canceled/forfeited shares ratio	2.5
Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant (in shares) \| shares	3.3
Non-employee director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant (in shares) \| shares	0.2

- 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

STOCKHOLDERS' EQUITY - Narrative (Details) - USD ($) $ in Millions	Nov. 30, 2024	Sep. 17, 2024
Equity [Abstract]
Authorized repurchase amount		$ 300.0
Remaining authorized repurchase amount	$ 251.2

Consolidated Statements of Income - Unaudited - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Nov. 30, 2024	Nov. 30, 2023
Income Statement [Abstract]
Revenues	$ 568,667	$ 542,216
Operating expenses
Cost of services	258,779	251,621
Selling, general and administrative	118,553	101,555
Total operating expenses	377,332	353,176
Operating income	191,335	189,040
Other income (expense), net
Interest income	2,701	3,012
Interest expense	(14,400)	(16,738)
Other income (expense), net	103	(118)
Total other income (expense), net	(11,596)	(13,844)
Income before income taxes	179,739	175,196
Provision for income taxes	29,717	26,641
Net income	$ 150,022	$ 148,555
Basic earnings per common share (in USD per share)	$ 3.95	$ 3.91
Diluted earnings per common share (in USD per share)	$ 3.89	$ 3.84
Basic weighted average common shares (in shares)	38,005	38,016
Diluted weighted average common shares (in shares)	38,517	38,643

STOCK-BASED COMPENSATION - Schedule of Restricted Stock Award Activity (Details) - Employee - $ / shares			3 Months Ended
	Nov. 01, 2024	Nov. 01, 2023	Nov. 30, 2024	Nov. 30, 2023
Restricted stock units and performance-based awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Restricted Stock Awards (in shares)			117,568	115,519
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			76,448	64,187
Weighted average grant date fair value, granted (in USD per share)			$ 445.89	$ 424.63
Vesting (as a percent)	20.00%	20.00%
Vesting period (in years)	5 years	5 years
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			33,756	36,860
Granted for performance adjustment (in shares)			7,364	14,472
Weighted average grant date fair value, granted (in USD per share)			$ 445.97	$ 424.63
Weighted average grant date fair value, granted for performance adjustment (in USD per share)			$ 424.01	$ 306.33
PSUs \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout percentage (as a percent)	0.00%	0.00%
PSUs \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout percentage (as a percent)	200.00%	200.00%

LEASES

3 Months Ended

Nov. 30, 2024

Leases [Abstract]

LEASES

Our operating lease arrangements relate to our office space and data centers. 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 or modification date (which includes fixed lease payments and certain qualifying index-based variable payments) over the reasonably certain lease term, leveraging an estimated incremental borrowing rate ("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 lease term on a straight-line expense basis in occupancy costs (a component of SG&A expense) in our Consolidated Statements of Income.

As of November 30, 2024, we recognized $117.5 million of Lease ROU assets, net and $192.8 million of combined Current lease liabilities and Long-term lease liabilities in the Consolidated Balance Sheets. Our leases have a remaining lease term ranging from less than one year to just over 11 years. Our lease agreements may include options to extend or terminate the lease which are included in the measurement of our lease term when it is reasonably certain that we will exercise the option.


(in thousands)	Minimum Lease Payments
Fiscal Years ended August 31,
2025 (remaining nine months)	$	29,747
2026	38,036
2027	36,364
2028	32,056
2029	26,250
Thereafter	60,475
Total minimum lease payments	$	222,928
Less: Imputed interest	30,122
Total lease liabilities	$	192,806

The following table includes components of our occupancy costs:


	Three Months Ended
	November 30,
(in thousands)	2024		2023
Operating lease costs(1)	$	7,572	$	7,618
Variable lease costs(2)	$	4,888	$	4,489

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


	As of November 30, 2024		As of August 31, 2024
Weighted average remaining lease term (in years)	6.7		6.9
Weighted average discount rate (IBR)	4.6	%	4.6	%

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


	Three Months Ended
	November 30,
(in thousands)	2024		2023
Cash paid for amounts included in the measurement of lease liabilities	$	9,762	$	9,850
Lease ROU assets obtained in exchange for lease liabilities(1)	$	—	$	911
Reductions to ROU assets resulting from reductions to lease liabilities(2)	$	(5,529)	$	—

(1)Primarily includes new lease arrangements entered into during the respective period 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.

EARNINGS PER SHARE - Schedule of Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Nov. 30, 2024	Nov. 30, 2023
Numerator
Net income used for calculating Basic EPS	$ 150,022	$ 148,555
Net income used for calculating Diluted EPS	$ 150,022	$ 148,555
Denominator
Weighted average common shares used in the calculation of Basic EPS (in shares)	38,005	38,016
Common stock equivalents associated with stock-based compensation plans (in shares)	512	627
Shares used in the calculation of Diluted EPS (in shares)	38,517	38,643
Basic EPS (in USD per share)	$ 3.95	$ 3.91
Diluted EPS (in USD per share)	$ 3.89	$ 3.84

- Definition

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

+ References

+ Details

- Definition

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.

+ References

+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

+ References

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-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 5
-Subparagraph (SAB Topic 6.B)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-5

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
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-Name Accounting Standards Codification
-Section 45
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-Publisher FASB
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Section 45
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-11

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (c)
-Publisher FASB
-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

ACQUISITIONS - Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Nov. 30, 2024	Nov. 05, 2024	Aug. 31, 2024
Business Acquisition [Line Items]
Goodwill	$ 1,092,202		$ 1,011,129
Trade names
Current liabilities
Acquisition date useful life (in years)	10 years
Platform Group Limited ("Irwin")
Business Acquisition [Line Items]
Current assets		$ 3,574
Goodwill		92,310
Current liabilities
Deferred revenues		(4,244)
Other current liabilities		(646)
Other liabilities		(7,002)
Total purchase price		123,192
Platform Group Limited ("Irwin") \| Trade names
Business Acquisition [Line Items]
Amortizable intangible assets		$ 1,400
Current liabilities
Acquisition date useful life (in years)		10 years
Platform Group Limited ("Irwin") \| Software technology
Business Acquisition [Line Items]
Amortizable intangible assets		$ 36,100
Current liabilities
Acquisition date useful life (in years)		12 years
Platform Group Limited ("Irwin") \| Client relationships
Business Acquisition [Line Items]
Amortizable intangible assets		$ 1,700
Current liabilities
Acquisition date useful life (in years)		11 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Nov. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation We conduct business globally and manage our business on a geographic basis. The accompanying unaudited Consolidated Financial Statements and Notes to the Consolidated Financial Statements included in this Quarterly Report on Form 10-Q are prepared in accordance with generally accepted accounting principles in the United States ("GAAP") for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all information and footnotes required by GAAP for annual financial statements. As such, the information in this Quarterly Report on Form 10-Q should be read in conjunction with the audited Consolidated Financial Statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended August 31, 2024. The accompanying unaudited Consolidated Financial Statements include our accounts and those of our wholly-owned subsidiaries; all intercompany activity and balances have been eliminated. In the opinion of management, the accompanying unaudited Consolidated Financial Statements include all normal recurring adjustments, transactions or events discretely impacting the interim periods considered necessary to present fairly our results of operations, financial position, cash flows and equity.
Reclassifications	Reclassifications During the three months ended November 30, 2024, Asset impairments were included within Selling, general and administrative ("SG&A") in the Consolidated Statements of Income and within Other, net in the Consolidated Statements of Cash Flows. We conformed the comparative figures for the three months ended November 30, 2023 to the current period presentation. During the three months ended November 30, 2024, Prepaid expenses and other assets, previously included within Other, net, were presented as a separate component of Cash Flows from Operating Activities in the Consolidated Statements of Cash Flows. We conformed the comparative figures for the three months ended November 30, 2023 to the current period presentation.
Use of Estimates	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, property, equipment and leasehold improvements ("PPE"), 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 our assets and liabilities. Actual results could differ materially from those estimates.
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, cash equivalents, accounts receivable, investments in mutual funds and derivative instruments. The maximum credit exposure of our cash, 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 their respective gross fair values as of the balance sheet date. Cash, Cash Equivalents and Investments We are exposed to credit risk on our cash, cash equivalents and investments in mutual funds in the event of default by the financial and governmental institutions with which we transact. We invest in a manner that aligns with our restrictive cash investment practices, preserves capital and provides liquidity, while minimizing our exposure to credit risk. We limit our exposure to credit loss by investing with multiple financial and governmental institutions that we believe are high-quality and credit-worthy. We have not experienced any credit losses relating to our cash, cash equivalents and investments in mutual funds. Accounts Receivable Our accounts receivable credit risk is dependent upon the financial stability of our individual clients. As of November 30, 2024 and August 31, 2024, our accounts receivable reserve was $15.8 million and $14.6 million, respectively. We do not require collateral from our clients; however, no single client represented more than 3.5% of our total revenues for the three months ended November 30, 2024 and November 30, 2023. Due to our large and geographically dispersed client base, our concentration of credit risk related to our accounts receivable is generally limited. 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 three months ended November 30, 2024 and November 30, 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 the three months ended November 30, 2024 and November 30, 2023. We maintain back-up facilities and other redundancies at our 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 the three months ended November 30, 2024 that had a material impact on our Consolidated Financial Statements. Accounting Pronouncements Not Yet Adopted Income Statement - Disaggregation of Income Statement Expenses In November 2024, the FASB issued Accounting Standards Update ("ASU") 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40) - Disaggregation of Income Statement Expenses. This ASU requires disaggregation of certain income statement expense captions into specified categories to be disclosed within the footnotes to the financial statements. This ASU does not change the expense captions on the income statement. The amendments in this ASU are to be applied prospectively, although retrospective application is permitted, and are effective for our annual financial statements starting in fiscal 2028 and interim periods starting in fiscal 2029. Early adoption is permitted. This ASU is not expected to have a material impact on our Consolidated Financial Statements. We are currently assessing the impact of the new requirements on our disclosures. U.S. Securities and Exchange Commission ("SEC") Disclosures - The Enhancement and Standardization of Climate-Related Disclosures for Investors In March 2024, the SEC adopted a final rule under SEC Release Nos. 33-11275 and 34-99678, The Enhancement and Standardization of Climate-Related Disclosures for Investors, which would require disclosure of certain climate-related information in various filings with the SEC. In April 2024, the SEC stayed implementation of the final rule pending completion of judicial review. We are currently assessing the potential impact of the rule on our disclosures. Codification Improvements - Amendments to Remove References to the Concepts Statements In March 2024, the FASB issued ASU 2024-02, Codification Improvements - Amendments to Remove References to the Concepts Statements. This ASU amends the FASB Accounting Standards Codification ("the Codification") to remove references to various FASB Concepts Statements and impacts a variety of topics in the Codification. The amendments apply to all reporting entities within the scope of the affected accounting guidance, but in most instances the references removed are extraneous and not required to understand or apply the guidance. The amendments in this ASU are to be applied prospectively, although retrospective application is permitted, and are effective for our interim and annual financial statements starting in fiscal 2026. Early adoption is permitted. This ASU is not expected to have a material impact on our Consolidated Financial Statements or related disclosures. Income Taxes - Improvements to Income Tax Disclosures In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures. This ASU enhances annual income tax disclosures primarily related to our effective tax rate reconciliation and income taxes paid. The amendments in this ASU are to be applied prospectively, although retrospective application is permitted, and are effective for our annual financial statements starting in fiscal 2026. Early adoption is permitted. This ASU is not expected to have a material impact on our Consolidated Financial Statements. We are currently assessing the impact of the new requirements on our disclosures. Segment Reporting - Improvements to Reportable Segment Disclosures In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures. This ASU enhances segment disclosures primarily related to significant segment expenses for both interim and annual periods. The amendments in this ASU are to be applied retrospectively and are effective for our annual financial statements starting in fiscal 2025 and interim periods starting in fiscal 2026. Early adoption is permitted. This ASU is not expected to have a material impact on our Consolidated Financial Statements. We are currently assessing the impact of the new requirements on our disclosures. Disclosure Improvements - Codification Amendment in Response to the SEC's Disclosure Update and Simplification Initiative In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements - Codification Amendment in Response to the SEC’s Disclosure Update and Simplification Initiative. The ASU incorporates several disclosure and presentation requirements currently residing in the SEC Regulations S-X and S-K. The amendments will be applied prospectively and are effective when the SEC removes the related requirements from Regulations S-X or S-K. Any amendments the SEC does not remove by June 30, 2027 will not be effective. As we are currently subject to these SEC requirements, this ASU is not expected to have a material impact on our Consolidated Financial Statements or related disclosures. No other new accounting pronouncements issued or effective during the three months ended November 30, 2024 have had, or are expected to have, a material impact on our Consolidated Financial Statements.

DESCRIPTION OF BUSINESS (Details)	3 Months Ended
DESCRIPTION OF BUSINESS (Details)	Nov. 30, 2024 client investment_professional segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of clients (more than) \| client	8,200
Number of investment professionals (over) \| investment_professional	218,000
Number of operating segments	3
Number of reportable segments	3

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Nov. 30, 2024	Nov. 30, 2023
Pay vs Performance Disclosure
Net income	$ 150,022	$ 148,555

- Definition

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

+ References

+ Details

GOODWILL - Changes in Carrying Amount of Goodwill by Segment (Details) $ in Thousands	3 Months Ended
	Nov. 30, 2024 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 1,011,129
Acquisitions	92,310
Foreign currency translations	(11,237)
Ending balance	1,092,202
Americas
Goodwill [Roll Forward]
Beginning balance	704,454
Acquisitions	92,310
Foreign currency translations	(643)
Ending balance	796,121
EMEA
Goodwill [Roll Forward]
Beginning balance	304,442
Acquisitions	0
Foreign currency translations	(10,541)
Ending balance	293,901
Asia Pacific
Goodwill [Roll Forward]
Beginning balance	2,233
Acquisitions	0
Foreign currency translations	(53)
Ending balance	$ 2,180

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
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-Name Accounting Standards Codification
-Section 55
-Paragraph 49
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Reference 3: http://www.xbrl.org/2003/role/exampleRef
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Reference 4: http://www.xbrl.org/2003/role/exampleRef
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(15))
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(10)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

+ Details

INTANGIBLE ASSETS - Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2024	Nov. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 29,872	$ 22,165

DEBT

3 Months Ended

Nov. 30, 2024

Debt Disclosure [Abstract]

DEBT

We elected not to carry our debt at fair value. The carrying value of our debt is net of related unamortized discounts and debt issuance costs. Our debt obligations as of November 30, 2024 and August 31, 2024 consisted of the following:


(in thousands)	Issuance Date	Contractual Maturity Date	November 30, 2024		August 31, 2024
Current debt
2022 Term Facility	3/1/2022	3/1/2025	$	62,500	$	125,000
Total unamortized debt issuance costs on Current debt			(40)		(158)
Total Current debt			$	62,460	$	124,842

Long-term debt

2022 Revolving Facility	3/1/2022	3/1/2027	$	305,000	$	250,000
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			(8,357)		(8,869)
Total Long-term debt			$	1,296,643	$	1,241,131

Total debt			$	1,359,103	$	1,365,973

As of November 30, 2024, annual maturities on our debt obligations, based on contractual maturity dates, were as follows:


(in thousands)	Maturities
Fiscal Years ended August 31,
2025 (remaining nine months)	$	62,500
2026	—
2027	805,000
2028	—
2029	—
Thereafter	500,000
Total	$	1,367,500

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"). During the three

months ended November 30, 2024, we borrowed an additional $55.0 million under the 2022 Revolving Facility.

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 of up to $750.0 million under the 2022 Revolving Facility from lenders or other financial institutions. The 2022 Revolving Facility, together with the 2022 Term Facility, are referred to as the "2022 Credit Facilities".

We used the March 1, 2022 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 prior outstanding borrowings 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 the three months ended November 30, 2024, we repaid $62.5 million under the 2022 Term Facility, inclusive of voluntary prepayments of $50.0 million. Since loan inception on March 1, 2022, we have repaid $937.5 million under the 2022 Term Facility, inclusive of voluntary prepayments of $812.5 million.

From the borrowing date through November 30, 2023, the outstanding borrowings under the 2022 Credit Facilities bore interest at a rate equal to the applicable one-month Term SOFR 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). From December 1, 2023 through November 30, 2024, the spread decreased to 0.975% (comprised of a 0.875% interest rate margin based on a debt leverage pricing grid plus a 0.1% credit spread adjustment). Interest on the 2022 Credit Facilities is currently payable on the last business day of each month, in arrears.

Additionally, 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. From the borrowing date through November 30, 2023, the commitment fee was 0.125%, which subsequently decreased to 0.1% through November 30, 2024.

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 3.50 to 1.00 as of November 30, 2024. We were in compliance with all covenants and requirements of the 2022 Credit Agreement as of November 30, 2024.

Swap Agreements

2024 Swap Agreement

On March 1, 2024, we entered into the 2024 Swap Agreement to hedge a portion of our outstanding floating SOFR debt with a fixed interest rate of 5.145%. The 2024 Swap Agreement matures on February 28, 2025.

2022 Swap Agreement

On March 1, 2022, we entered into the 2022 Swap Agreement to hedge a portion of our outstanding floating SOFR 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. The 2022 Swap Agreement matured on February 28, 2024.

Refer to Note 5, Derivative Instruments for further discussion of the 2024 Swap Agreement and the 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.

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.

Interest Expense

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


	Three Months Ended
	November 30,
(in thousands)	2024		2023
Interest expense on outstanding debt(1)	$	14,367	$	16,729

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

DEBT - Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended
DEBT - Interest Expense (Details) - USD ($) $ in Thousands	Nov. 30, 2024	Nov. 30, 2023
Debt Disclosure [Abstract]
Interest expense on outstanding debt	$ 14,367	$ 16,729

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	Nov. 30, 2024 USD ($)	Nov. 30, 2024 GBP (£)	Nov. 30, 2024 INR (₨)	Nov. 30, 2024 EUR (€)	Nov. 30, 2024 PHP (₱)	Aug. 31, 2024 USD ($)	Aug. 31, 2024 GBP (£)	Aug. 31, 2024 INR (₨)	Aug. 31, 2024 EUR (€)	Aug. 31, 2024 PHP (₱)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gross notional value	$ 230,419					$ 288,155
Foreign currency forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gross notional value	180,419					188,155
British Pound Sterling
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gross notional value	55,341	£ 43,500				52,372	£ 41,200
Indian Rupee
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gross notional value	51,300		₨ 4,347,919			55,200		₨ 4,651,351
Euro
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gross notional value	40,178			€ 36,700		48,183			€ 43,800
Philippine Peso
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gross notional value	$ 33,600				₱ 1,952,008	$ 32,400				₱ 1,850,674

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Nov. 30, 2024	Nov. 30, 2023
Income Tax Disclosure [Abstract]
Income before income taxes	$ 179,739	$ 175,196
Provision for income taxes	$ 29,717	$ 26,641
Effective tax rate	16.50%	15.20%

- 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.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
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Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

- Definition

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

+ References

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+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Nov. 30, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
F. Philip Snow [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On September 26, 2024, F. Philip Snow, our Chief Executive Officer, adopted a trading plan for the monthly exercise of non-qualified stock options and the sale of shares of FactSet common stock issued upon exercise of those options, with an effective date of January 2, 2025 and an expiration date of December 5, 2025. This plan is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) of the Exchange Act. Pursuant to the plan, the aggregate number of options to be exercised, and the aggregate number of shares of common stock to be sold upon exercise of those options, is not to exceed 36,000.
Name	F. Philip Snow
Title	Chief Executive Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	September 26, 2024
Expiration Date	December 5, 2025
Arrangement Duration	337 days
Aggregate Available	36,000

LEASES - Future Minimum Commitments (Details) $ in Thousands	Nov. 30, 2024 USD ($)
Leases [Abstract]
2025 (remaining nine months)	$ 29,747
2026	38,036
2027	36,364
2028	32,056
2029	26,250
Thereafter	60,475
Total minimum lease payments	222,928
Less: Imputed interest	30,122
Total lease liabilities	$ 192,806

LEASES - Lease Cost And Other Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2024	Nov. 30, 2023	Aug. 31, 2024
Leases [Abstract]
Operating lease costs	$ 7,572	$ 7,618
Variable lease costs	$ 4,888	4,489
Weighted average remaining lease term (in years)	6 years 8 months 12 days		6 years 10 months 24 days
Weighted average discount rate (incremental borrowing rate)	4.60%		4.60%
Cash paid for amounts included in the measurement of lease liabilities	$ 9,762	9,850
Lease ROU assets obtained in exchange for lease liabilities	0	911
Reductions to ROU assets resulting from reductions to lease liabilities	$ (5,529)	$ 0

DERIVATIVE INSTRUMENTS - Narrative (Details) - USD ($) $ in Thousands	Nov. 30, 2024	Aug. 31, 2024	May 31, 2024	Mar. 01, 2024	May 31, 2022	Mar. 01, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Estimated pre-tax derivative losses to be reclassified in next 12 months	$ 1,900
Cash flow hedging \| Designated as hedging instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gross notional value	230,419	$ 288,155
Cash flow hedging \| Designated as hedging instrument \| Interest rate swap agreement
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gross notional value	$ 50,000	$ 100,000		$ 200,000		$ 800,000
Fixed interest rate				5.145%		1.162%
Quarterly decline in notional amount			$ 50,000		$ 100,000

GOODWILL (Tables)

3 Months Ended

Nov. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

Changes in the carrying value of goodwill by segment for the three months ended November 30, 2024 are as follows:


(in thousands)	Americas		EMEA		Asia Pacific		Total
Balance at August 31, 2024	$	704,454	$	304,442	$	2,233	$	1,011,129
Acquisitions	92,310		—		—		92,310
Foreign currency translations	(643)		(10,541)		(53)		(11,237)
Balance at November 30, 2024	$	796,121	$	293,901	$	2,180	$	1,092,202

- Definition

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

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+ Details

Consolidated Balance Sheets - Unaudited - USD ($) $ in Thousands	Nov. 30, 2024	Aug. 31, 2024
ASSETS
Cash and cash equivalents	$ 289,168	$ 422,979
Investments	69,623	69,619
Accounts receivable, net of reserves of $15,755 at November 30, 2024 and $14,581 at August 31, 2024	252,521	228,054
Prepaid taxes	78,682	55,103
Prepaid expenses and other current assets	60,702	60,093
Total current assets	750,696	835,848
Property, equipment and leasehold improvements, net	81,524	82,513
Goodwill	1,092,202	1,011,129
Intangible assets, net	1,870,332	1,844,141
Deferred taxes	40,317	61,337
Lease right-of-use assets, net	117,514	130,494
Other assets	96,000	89,578
TOTAL ASSETS	4,048,585	4,055,040
LIABILITIES
Accounts payable and accrued expenses	151,297	178,250
Current debt	62,460	124,842
Current lease liabilities	31,434	31,073
Accrued compensation	51,760	93,279
Deferred revenues	157,062	159,761
Current taxes payable	44,551	40,391
Dividends payable	39,572	39,470
Total current liabilities	538,136	667,066
Long-term debt	1,296,643	1,241,131
Deferred taxes	15,048	8,452
Deferred revenues, non-current	914	1,344
Taxes payable	41,896	40,452
Long-term lease liabilities	161,372	177,521
Other liabilities	3,015	6,614
TOTAL LIABILITIES	2,057,024	2,142,580
Commitments and contingencies (see Note 12)
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; 42,830,024 and 42,598,915 shares issued; 38,049,811 and 37,952,270 shares outstanding at November 30, 2024 and August 31, 2024, respectively	428	426
Additional paid-in capital	1,531,278	1,478,839
Treasury stock, at cost: 4,780,213 and 4,646,645 shares at November 30, 2024 and August 31, 2024, respectively	(1,438,678)	(1,375,696)
Retained earnings	1,998,954	1,888,504
Accumulated other comprehensive loss	(100,421)	(79,613)
TOTAL STOCKHOLDERS’ EQUITY	1,991,561	1,912,460
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 4,048,585	$ 4,055,040

SEGMENT INFORMATION - Results of Operations and Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2024	Nov. 30, 2023
Revenues	$ 568,667	$ 542,216
Operating income	191,335	189,040
Capital expenditures	25,874	16,466
Americas
Revenues	367,242	348,367
Operating income	81,798	80,848
Capital expenditures	24,954	14,778
EMEA
Revenues	143,725	139,561
Operating income	69,038	68,865
Capital expenditures	375	961
Asia Pacific
Revenues	57,700	54,288
Operating income	40,499	39,327
Capital expenditures	$ 545	$ 727

- 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

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2024	Nov. 30, 2023	Aug. 31, 2024
Accounting Policies [Abstract]
Accounts receivable reserve	$ 15,755		$ 14,581
Data costs \| Supplier Concentration Risk \| Supplier One
Concentration Risk [Line Items]
Concentration risk, percentage (more than)	10.00%	10.00%
Data costs \| Supplier Concentration Risk \| Supplier Two
Concentration Risk [Line Items]
Concentration risk, percentage (more than)	10.00%	10.00%

LEASES - Narrative (Details) - USD ($) $ in Thousands	Nov. 30, 2024	Aug. 31, 2024
Lessee, Lease, Description [Line Items]
ROU assets	$ 117,514	$ 130,494
Lease liabilities	$ 192,806
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	11 years

SEGMENT INFORMATION (Tables)

3 Months Ended

Nov. 30, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

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


(in thousands)	Americas		EMEA		Asia Pacific		Total
For the three months ended November 30, 2024
Revenues	$	367,242	$	143,725	$	57,700	$	568,667
Operating income	$	81,798	$	69,038	$	40,499	$	191,335
Capital expenditures(1)	$	24,954	$	375	$	545	$	25,874

(in thousands)	Americas		EMEA		Asia Pacific		Total
For the three months ended November 30, 2023
Revenues	$	348,367	$	139,561	$	54,288	$	542,216
Operating income	$	80,848	$	68,865	$	39,327	$	189,040
Capital expenditures(1)	$	14,778	$	961	$	727	$	16,466

(1) Capital expenditures include purchases of PPE and capitalized internal-use software.

Segment Total Assets

The following table reflects the total assets for our segments as of November 30, 2024 and August 31, 2024:


(in thousands)	November 30, 2024		August 31, 2024
Segment Assets
Americas	$	3,301,189	$	3,178,800
EMEA	527,332		600,206
Asia Pacific	220,064		276,034
Total assets	$	4,048,585	$	4,055,040

INCOME TAXES (Tables)

3 Months Ended

Nov. 30, 2024

Income Tax Disclosure [Abstract]

Schedule of Income Taxes and Effective Tax Rate

The provision for income taxes and the effective tax rate are as follows:


	Three Months Ended
	November 30,
(in thousands)	2024			2023
Income before income taxes	$	179,739		$	175,196
Provision for income taxes	$	29,717		$	26,641
Effective tax rate	16.5		%	15.2		%

FAIR VALUE MEASURES - Carrying Value and Estimated Carrying Value and Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Nov. 30, 2024	Aug. 31, 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total unamortized discounts and debt issuance costs	$ (8,397)	$ (9,027)
Total net carrying value of debt	1,359,103	1,365,973
Principal Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total principal amount	1,367,500	1,375,000
Principal Amount \| Level 1 \| Senior Notes \| 2027 Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total principal amount	500,000	500,000
Principal Amount \| Level 1 \| Senior Notes \| 2032 Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total principal amount	500,000	500,000
Principal Amount \| Level 3 \| Line of Credit \| Credit Agreement 2022 \| Revolving Credit Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total principal amount	305,000	250,000
Principal Amount \| Level 3 \| Line of Credit \| Credit Agreement 2022 \| Term Loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total principal amount	62,500	125,000
Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total principal amount	1,298,987	1,300,960
Estimated Fair Value \| Level 1 \| Senior Notes \| 2027 Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total principal amount	479,745	479,760
Estimated Fair Value \| Level 1 \| Senior Notes \| 2032 Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total principal amount	448,405	449,380
Estimated Fair Value \| Level 3 \| Line of Credit \| Credit Agreement 2022 \| Revolving Credit Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total principal amount	308,182	246,578
Estimated Fair Value \| Level 3 \| Line of Credit \| Credit Agreement 2022 \| Term Loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total principal amount	$ 62,655	$ 125,242

ACQUISITIONS - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended
ACQUISITIONS - Narrative (Details) - USD ($) $ in Thousands	Nov. 05, 2024	Nov. 30, 2024	Nov. 30, 2023	Aug. 31, 2024
Business Acquisition [Line Items]
Purchase price		$ 115,199	$ 0
Contingent consideration		16,930		$ 4,193
Goodwill		$ 1,092,202		$ 1,011,129
Platform Group Limited ("Irwin")
Business Acquisition [Line Items]
Purchase price	$ 123,200
Contingent consideration	12,700
Goodwill	$ 92,310

- Definition

+ References

+ Details

DERIVATIVE INSTRUMENTS

3 Months Ended

Nov. 30, 2024

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.

We utilize derivative instruments to manage risk and not 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 swap agreements to mitigate certain operational exposures from the impact of changes in foreign currency exchange rates and to manage our floating interest rate exposure, respectively. Our foreign currency forward contracts and interest rate swap agreements are designated as cash flow hedges at inception.

For highly effective cash flows hedges, the change in the derivative's fair value is recorded in Accumulated other comprehensive loss ("AOCL"), net of tax, in the Consolidated Balance Sheets. Our cash flow hedges were highly effective with no amount of ineffectiveness recorded in the Consolidated Statements of Income during the three months ended November 30, 2024 and November 30, 2023.

Realized gains or losses from the settlement of our foreign currency forward contracts and interest rate swap agreements are subsequently reclassified into SG&A and Interest expense, respectively, in the Consolidated Statements of Income. There was no discontinuance of our cash flow hedges during the three months ended November 30, 2024 and November 30, 2023. As such, no corresponding gains or losses were reclassified into earnings prior to settlement during those respective periods.

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. During the three months ended November 30, 2024 and November 30, 2023, we maintained a series of foreign currency forward contracts to hedge a portion of our projected operating expenses in our primary currency exposures, namely the British Pound Sterling, Euro, Indian Rupee and Philippine Peso. As of November 30, 2024, the hedge maturity periods of our outstanding foreign currency forward contracts range from the second quarter of fiscal 2025 through the first quarter of fiscal 2026.


	November 30, 2024				August 31, 2024
(in thousands)	Local Currency Amount		Notional Contract Amount (USD)		Local Currency Amount		Notional Contract Amount (USD)
British Pound Sterling	£	43,500	$	55,341	£	41,200	$	52,372
Indian Rupee	Rs	4,347,919	51,300		Rs	4,651,351	55,200
Euro	€	36,700	40,178		€	43,800	48,183
Philippine Peso	₱	1,952,008	33,600		₱	1,850,674	32,400
Total			$	180,419			$	188,155

Refer to Part I, Item 3. Quantitative and Qualitative Disclosures About Market Risk of this Quarterly Report on Form 10-Q for further discussion on our exposure to foreign exchange rate fluctuations.

Interest Rate Swap Agreements

2024 Swap Agreement

On March 1, 2024, we entered into an interest rate swap agreement ("2024 Swap Agreement") with a notional amount of $200.0 million to hedge a portion of our outstanding floating Secured Overnight Financing Rate ("SOFR") debt with a fixed interest rate of 5.145%. The notional amount of the 2024 Swap Agreement declines by $50.0 million on a quarterly basis beginning May 31, 2024. As of November 30, 2024, the notional amount of the 2024 Swap Agreement was $50.0 million. The 2024 Swap Agreement matures on February 28, 2025.

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 SOFR debt with a fixed interest rate of 1.162%. The notional amount of the 2022 Swap Agreement declined by $100.0 million on a quarterly basis beginning May 31, 2022. 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 prior to its maturity. The 2022 Swap Agreement matured on February 28, 2024.

Refer to Note 11, Debt, for further discussion of our outstanding floating rate debt and refer to Part I, Item 3. Quantitative and Qualitative Disclosures About Market Risk, in this Quarterly Report on Form 10-Q for further discussion of our exposure to interest rate risk on our outstanding floating rate debt.

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
(in thousands)	November 30, 2024		August 31, 2024
Foreign currency forward contracts	$	180,419	$	188,155
Interest rate swap agreement	50,000		100,000
Total cash flow hedges	$	230,419	$	288,155

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	November 30, 2024		August 31, 2024		Balance Sheet Classification	November 30, 2024		August 31, 2024
Foreign currency forward contracts	Prepaid expenses and other current assets	$	—	$	2,619	Accounts payable and accrued expenses	$	1,842	$	127
Interest rate swap agreement	Prepaid expenses and other current assets	—		—		Accounts payable and accrued expenses	83		123

Total cash flow hedges		$	—	$	2,619		$	1,925	$	250

Derivative Recognition

The following table provides the pre-tax effect of cash flow hedge accounting on our AOCL for the three months ended November 30, 2024 and November 30, 2023:


	Gain (Loss) Recognized in AOCL on Derivatives				Location of Gain (Loss) Reclassified from AOCL into Income	Gain (Loss) Reclassified from AOCL into Income
(in thousands)	November 30,					November 30,
Derivatives in Cash Flow Hedging Relationships	2024		2023			2024		2023
Foreign currency forward contracts	$	(4,135)	$	217	SG&A	$	199	$	365
Interest rate swap agreement	(14)		10		Interest expense	(54)		2,104
Total cash flow hedges	$	(4,149)	$	227		$	145	$	2,469

As of November 30, 2024, we estimate that net pre-tax derivative losses of $1.9 million included in AOCL will be reclassified into earnings within the next 12 months.

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 November 30, 2024 and August 31, 2024, there were no material amounts recorded net in the Consolidated Balance Sheets.

DEBT - Narrative (Details)		3 Months Ended		12 Months Ended	21 Months Ended	33 Months Ended
DEBT - Narrative (Details)	Mar. 01, 2022 USD ($)	Nov. 30, 2024 USD ($)	Nov. 30, 2023 USD ($)	Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2024 USD ($)	Mar. 01, 2024
Debt Instrument [Line Items]
Proceeds from debt		$ 55,000,000	$ 0
Repayments of debt		$ 62,500,000	$ 62,500,000
Interest rate swap agreement \| Cash flow hedging \| Designated as hedging instrument
Debt Instrument [Line Items]
Fixed interest rate	1.162%						5.145%
Senior Notes
Debt Instrument [Line Items]
Debt issuance costs	$ 9,100,000
Discount	$ 2,800,000
Redemption price (as a percent)	101.00%
Credit Agreement 2022 \| Line of Credit
Debt Instrument [Line Items]
Debt issuance costs	$ 9,500,000
Basis spread on variable rate (as a percent)				0.975%	1.10%
Covenants, required maximum leverage ratio		3.50		3.50		3.50
Credit Agreement 2022 \| Line of Credit \| Interest Rate Margin
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)				0.875%	1.00%
Credit Agreement 2022 \| Line of Credit \| Credit Spread Adjustment
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)				0.10%	0.10%
2027 Notes \| Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount	$ 500,000,000.0
Stated interest rate (as a percent)	2.90%
2032 Notes \| Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount	$ 500,000,000.0
Stated interest rate (as a percent)	3.45%
Term Loan \| Credit Agreement 2022 \| Line of Credit
Debt Instrument [Line Items]
Aggregate principal amount	$ 1,000,000,000.0
Repayments of debt		$ 62,500,000				$ 937,500,000
Voluntary prepayments of debt		50,000,000.0				$ 812,500,000
Revolving Credit Facility \| Credit Agreement 2022 \| Line of Credit
Debt Instrument [Line Items]
Lines of credit	250,000,000.0
Maximum borrowing capacity	500,000,000.0
Proceeds from debt		$ 55,000,000.0
Maximum additional borrowings	750,000,000.0
Commitment fee percentage				0.10%	0.125%
Letter of Credit \| Credit Agreement 2022 \| Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	100,000,000.0
Swingline Loan \| Credit Agreement 2022 \| Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 50,000,000.0

INTANGIBLE ASSETS

3 Months Ended

Nov. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

We amortize intangible assets on a straight-line basis over their estimated useful lives. The following table presents the estimated useful life, gross carrying amounts and accumulated amortization related to our identifiable intangible assets as of November 30, 2024 and August 31, 2024:


	November 30, 2024							August 31, 2024
(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	$	120,924	$	1,462,076	$	1,583,000	$	109,930	$	1,473,070
Client relationships	11 to 26	266,037		82,667		183,370		266,419		80,904		185,515
Developed technology	3 to 5	199,093		81,370		117,723		181,492		68,286		113,206
Software technology	3 to 12	178,579		117,606		60,973		143,685		117,189		26,496
Data content	7 to 20	83,497		38,886		44,611		84,374		38,725		45,649
Trade names	10	1,392		—		1,392		—		—		—

Non-compete agreements	4	290		103		187		290		85		205
Total		$	2,311,888	$	441,556	$	1,870,332	$	2,259,260	$	415,119	$	1,844,141

The weighted average useful life of our intangible assets as of November 30, 2024 was 31.4 years. 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, our 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. We did not identify a material impairment nor a material change to the estimated remaining useful lives of our intangible assets during the three months ended November 30, 2024 and November 30, 2023. Our intangible assets have no assigned residual values.

The following table presents the amortization expense for our intangible assets which is included in Cost of services in our Consolidated Statements of Income:


	Three Months Ended
	November 30,
(in thousands)	2024		2023
Amortization expense	$	29,872	$	22,165

As of November 30, 2024, estimated intangible asset amortization expense for each of the next five years and thereafter is as follows:


(in thousands)	Estimated Amortization Expense
Fiscal Years Ended August 31,
2025 (remaining nine months)	$	92,467
2026	116,708
2027	91,107
2028	68,980
2029	64,344
Thereafter	1,436,726
Total	$	1,870,332

ACQUISITIONS

3 Months Ended

Nov. 30, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

ACQUISITIONS

Platform Group Limited ("Irwin")

On November 5, 2024, we completed the acquisition of Irwin for a purchase price of $123.2 million, net of cash acquired, and inclusive of preliminary working capital adjustments. The purchase price includes contingent consideration of $12.7 million

which reflects the acquisition date fair value of potential future payments that are contingent upon the achievement of certain specified milestones. Refer to Note 4, Fair Value Measures, for information regarding the contingent consideration.

Irwin is a leading investor relations and capital markets platform for public companies and their advisors. This acquisition builds on a recent successful partnership between FactSet and Irwin, and expands our ability to address the holistic workflow needs of investor relations professionals with an integrated, modern solution. The Irwin purchase price was in excess of the fair value of net assets acquired, resulting in the recognition of goodwill. The preliminary purchase price allocation is subject to change pending a final valuation of the assets and liabilities acquired and the finalization of working capital adjustments. We expect to finalize the allocation of the purchase price for Irwin as soon as possible, but in any event, no later than one year from the acquisition date.

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

3,574

Amortizable intangible assets

Trade names

1,400

10 years

Straight-line

Software technology

36,100

12 years

Straight-line

Client relationships

1,700

11 years

Straight-line

Goodwill

92,310

Current liabilities

Deferred revenues

(4,244)

Other current liabilities

(646)

Other liabilities

(7,002)

Total purchase price

123,192

Goodwill totaling $92.3 million represents the excess of the Irwin 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, subject to final allocation, and is not deductible for income tax purposes.

The results of Irwin'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 November 5, 2024. Pro forma information has not been presented because the effect of the Irwin acquisition is not material to our Consolidated Financial Statements.

STOCKHOLDERS' EQUITY (Tables)

3 Months Ended

Nov. 30, 2024

Equity [Abstract]

Schedule of Share Repurchases

Share Repurchases


	Three Months Ended
	November 30,
(in thousands, except share data)	2024		2023
Repurchases of common stock under the share repurchase program	104,475		135,950
Total cost of common stock repurchased under the share repurchase program(1)	$	48,790	$	59,910
Repurchases of common stock to satisfy tax withholding requirements due upon vesting of stock-based awards	29,093		30,384
Total cost of repurchases of common stock to satisfy withholding requirements due upon vesting of stock-based awards	$	13,385	$	13,504

(1) For the three months ended November 30, 2024, amount excludes a 1% excise tax of $0.8 million on corporate stock repurchases required under the Inflation Reduction Act of 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 2025

First Quarter

1.04

November 29, 2024

39,572

December 19, 2024

Fiscal 2024

First Quarter

0.98

November 30, 2023

37,299

December 21, 2023

Schedule of Components of AOCL

The components of AOCL as of November 30, 2024 and August 31, 2024 were as follows:


(in thousands)	November 30, 2024		August 31, 2024
Accumulated unrealized gains (losses) on cash flow hedges, net of tax	$	(1,346)	$	1,843
Accumulated foreign currency translation adjustments	(99,075)		(81,456)
Total AOCL	$	(100,421)	$	(79,613)

REVENUE RECOGNITION (Details) - USD ($) $ in Thousands	3 Months Ended
REVENUE RECOGNITION (Details) - USD ($) $ in Thousands	Nov. 30, 2024	Nov. 30, 2023
Disaggregation of Revenue [Line Items]
Total Revenues	$ 568,667	$ 542,216
Americas
Disaggregation of Revenue [Line Items]
Total Revenues	367,242	348,367
EMEA
Disaggregation of Revenue [Line Items]
Total Revenues	143,725	139,561
Asia Pacific
Disaggregation of Revenue [Line Items]
Total Revenues	$ 57,700	$ 54,288

- 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

SEGMENT INFORMATION

3 Months Ended

Nov. 30, 2024

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 our CODM manages our business and the geographic markets in which we operate. These operating segments are consistent with our reportable segments.

The Americas segment primarily sells to clients throughout North, Central, and South America. The EMEA segment primarily sells to clients in Europe, the Middle East, and Africa. The Asia Pacific segment primarily sells to clients in Asia and Australasia. Segment revenues reflect sales to our clients based on the geographic region where the sale originated.

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 by each segment.

Intercompany revenue and expense amounts have been eliminated within each segment in order to report on the basis that management uses internally for evaluating segment performance.

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


(in thousands)	Americas		EMEA		Asia Pacific		Total
For the three months ended November 30, 2024
Revenues	$	367,242	$	143,725	$	57,700	$	568,667
Operating income	$	81,798	$	69,038	$	40,499	$	191,335
Capital expenditures(1)	$	24,954	$	375	$	545	$	25,874

(in thousands)	Americas		EMEA		Asia Pacific		Total
For the three months ended November 30, 2023
Revenues	$	348,367	$	139,561	$	54,288	$	542,216
Operating income	$	80,848	$	68,865	$	39,327	$	189,040
Capital expenditures(1)	$	14,778	$	961	$	727	$	16,466

(1) Capital expenditures include purchases of PPE and capitalized internal-use software.

Segment Total Assets

The following table reflects the total assets for our segments as of November 30, 2024 and August 31, 2024:


(in thousands)	November 30, 2024		August 31, 2024
Segment Assets
Americas	$	3,301,189	$	3,178,800
EMEA	527,332		600,206
Asia Pacific	220,064		276,034
Total assets	$	4,048,585	$	4,055,040

- 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.

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+ Details

STOCK-BASED COMPENSATION - Schedule of Weighted Average Assumptions (Details) - Employee - $ / shares		3 Months Ended
	Nov. 01, 2024	Nov. 30, 2024	Nov. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted (in shares)	200,693	200,693	242,371
Estimated fair value (in USD per share)	$ 133.10	$ 133.10	$ 132.60
Exercise price (in USD per share)	$ 458.80	$ 458.80	$ 436.57
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate, minimum	4.31%
Risk-free interest rate, maximum	4.87%
Expected life (years)	6 years 7 months 13 days
Expected volatility	24.49%
Dividend yield	0.95%

DEBT - Debt Obligations (Details) - USD ($) $ in Thousands	Nov. 30, 2024	Aug. 31, 2024
Current debt
Total unamortized debt issuance costs on Current debt	$ (40)	$ (158)
Total Current debt	62,460	124,842
Long-term debt
Total unamortized discounts and debt issuance costs	(8,357)	(8,869)
Total Long-term debt	1,296,643	1,241,131
Total net carrying value of debt	1,359,103	1,365,973
Senior Notes \| 2027 Notes
Long-term debt
Long-term debt, gross	500,000	500,000
Senior Notes \| 2032 Notes
Long-term debt
Long-term debt, gross	500,000	500,000
Term Loan \| Line of Credit \| Credit Agreement 2022
Current debt
Current debt, gross	62,500	125,000
Revolving Credit Facility \| Line of Credit \| Credit Agreement 2022
Long-term debt
Long-term debt, gross	$ 305,000	$ 250,000

Consolidated Statements of Changes in Stockholders' Equity - Unaudited - 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, 2023		42,096,628
Beginning balance at Aug. 31, 2023	$ 1,619,930	$ 421	$ 1,323,631	$ (1,122,077)	$ 1,505,096	$ (87,141)
Beginning balance, treasury stock (in shares) at Aug. 31, 2023				4,071,256
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	148,555				148,555
Other comprehensive income (loss)	254					254
Common stock issued for employee stock plans (in shares)		125,104		146
Common stock issued for employee stock plans	28,339	$ 1	28,403	$ (65)
Vesting of restricted stock (in shares)		75,598		30,238
Vesting of restricted stock	$ (13,439)	$ 1	(1)	$ (13,439)
Repurchases of common stock (in shares)	135,950			135,950
Repurchases of common stock	$ (59,910)			$ (59,910)
Stock-based compensation expense	14,310		14,310
Dividends declared	(37,299)				(37,299)
Balance, end of period (in shares) at Nov. 30, 2023		42,297,330
Ending balance at Nov. 30, 2023	$ 1,700,740	$ 423	1,366,343	$ (1,195,491)	1,616,352	(86,887)
Ending balance, treasury stock (in shares) at Nov. 30, 2023				4,237,590
Balance, beginning of period (in shares) at Aug. 31, 2024	37,952,270	42,598,915
Beginning balance at Aug. 31, 2024	$ 1,912,460	$ 426	1,478,839	$ (1,375,696)	1,888,504	(79,613)
Beginning balance, treasury stock (in shares) at Aug. 31, 2024	4,646,645			4,646,645
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 150,022				150,022
Other comprehensive income (loss)	(20,808)					(20,808)
Common stock issued for employee stock plans (in shares)		161,097
Common stock issued for employee stock plans	38,679	$ 1	38,848	$ (170)
Vesting of restricted stock (in shares)		70,012		29,093
Vesting of restricted stock	(13,215)	$ 1	(1)	$ (13,215)
Excise tax on share repurchases	$ (807)			$ (807)
Repurchases of common stock (in shares)	104,475			104,475
Repurchases of common stock	$ (48,790)			$ (48,790)
Stock-based compensation expense	13,592		13,592
Dividends declared	$ (39,572)				(39,572)
Balance, end of period (in shares) at Nov. 30, 2024	38,049,811	42,830,024
Ending balance at Nov. 30, 2024	$ 1,991,561	$ 428	$ 1,531,278	$ (1,438,678)	$ 1,998,954	$ (100,421)
Ending balance, treasury stock (in shares) at Nov. 30, 2024	4,780,213			4,780,213