View Filing Data

Print Document View Excel Document

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	May 31, 2017	Jun. 26, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	ACUITY BRANDS INC
Entity Central Index Key	0001144215
Document Type	10-Q
Document Period End Date	May 31, 2017
Amendment Flag	false
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--08-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		42,093,298

Consolidated Balance Sheets - USD ($) $ in Millions	May 31, 2017	Aug. 31, 2016
Current assets:
Cash and cash equivalents	$ 189.7	$ 413.2
Accounts receivable, less reserve for doubtful accounts of $1.8 and $1.7, respectively	521.1	572.8
Inventories	342.2	295.2
Prepayments and other current assets	41.1	41.7
Total current assets	1,094.1	1,322.9
Property, plant, and equipment, at cost:
Land	22.2	23.1
Buildings and leasehold improvements	182.8	174.4
Machinery and equipment	470.6	448.2
Total property, plant, and equipment	675.6	645.7
Less: accumulated depreciation and amortization	(391.2)	(377.9)
Property, plant, and equipment, net	284.4	267.8
Goodwill	887.5	947.8
Intangible assets, net	448.3	381.4
Deferred income taxes	4.6	5.1
Other long-term assets	11.6	23.0
Total assets	2,730.5	2,948.0
Current liabilities:
Accounts payable	359.8	401.0
Current maturities of long-term debt	0.4	0.2
Accrued compensation	26.1	95.2
Other accrued liabilities	158.0	176.1
Total current liabilities	544.3	672.5
Long-term debt	356.3	355.0
Accrued pension liabilities	116.3	119.9
Deferred income taxes	106.8	74.6
Self-insurance reserves	8.0	7.2
Other long-term liabilities	63.6	59.0
Total liabilities	1,195.3	1,288.2
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.01 par value; 50,000,000 shares authorized; none issued	0.0	0.0
Common stock, $0.01 par value; 500,000,000 shares authorized; 53,525,242 and 53,415,687 issued, respectively	0.5	0.5
Paid-in capital	875.4	856.4
Retained earnings	1,574.9	1,360.9
Accumulated other comprehensive loss	(139.5)	(139.4)
Treasury stock, at cost — 11,678,002 and 9,679,457 shares, respectively	(776.1)	(418.6)
Total stockholders’ equity	1,535.2	1,659.8
Total liabilities and stockholders’ equity	$ 2,730.5	$ 2,948.0

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	May 31, 2017	Aug. 31, 2016
Current assets:
Allowance for doubtful accounts	$ 1.8	$ 1.7
Stockholders’ equity:
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (shares)	50,000,000	50,000,000
Preferred stock, shares issued (shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (shares)	500,000,000	500,000,000
Common stock, shares issued (shares)	53,525,242	53,415,687
Treasury stock, shares (shares)	11,678,002	9,679,457

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	May 31, 2017	May 31, 2016	May 31, 2017	May 31, 2016
Income Statement [Abstract]
Net sales	$ 891.6	$ 851.5	$ 2,547.5	$ 2,365.9
Cost of products sold	512.7	473.6	1,473.2	1,331.7
Gross profit	378.9	377.9	1,074.3	1,034.2
Selling, distribution, and administrative expenses	246.9	247.2	706.5	683.9
Special charge	0.5	9.7	1.7	10.2
Operating profit	131.5	121.0	366.1	340.1
Other expense (income):
Interest expense, net	8.1	8.1	24.3	24.2
Miscellaneous (income) expense, net	(1.2)	0.3	(8.5)	(1.5)
Total other expense	6.9	8.4	15.8	22.7
Income before provision for income taxes	124.6	112.6	350.3	317.4
Provision for income taxes	42.4	38.6	119.1	109.5
Net income	$ 82.2	$ 74.0	$ 231.2	$ 207.9
Earnings per share:
Basic earnings per share (in dollars per share)	$ 1.91	$ 1.70	$ 5.31	$ 4.78
Basic weighted average number of shares outstanding (in shares)	43.1	43.5	43.5	43.4
Diluted earnings per share (in dollars per share)	$ 1.90	$ 1.69	$ 5.29	$ 4.75
Diluted weighted average number of shares outstanding (in shares)	43.3	43.8	43.7	43.7
Dividends declared per share (in dollars per share)	$ 0.13	$ 0.13	$ 0.39	$ 0.39
Comprehensive income:
Net income	$ 82.2	$ 74.0	$ 231.2	$ 207.9
Other comprehensive income (loss) items:
Foreign currency translation adjustments	2.4	10.0	(6.2)	(3.4)
Defined benefit pension plans, net of tax	2.0	1.3	6.1	4.0
Other comprehensive income (loss), net of tax	4.4	11.3	(0.1)	0.6
Comprehensive income	$ 86.6	$ 85.3	$ 231.1	$ 208.5

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	May 31, 2017	May 31, 2016
Cash flows from operating activities:
Net income	$ 231.2	$ 207.9
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization	56.5	49.0
Share-based payment expense	24.1	19.9
Excess tax benefits from share-based payments	(5.5)	(19.7)
Loss (gain) on the sale or disposal of property, plant, and equipment	0.3	(1.1)
Gain on sale of investment in unconsolidated affiliate	(7.2)	0.0
Deferred income taxes	(2.8)	0.0
Change in assets and liabilities, net of effect of acquisitions, divestitures, and exchange rate changes:
Accounts receivable	50.4	(15.9)
Inventories	(47.1)	(14.2)
Prepayments and other current assets	(3.5)	(9.0)
Accounts payable	(37.7)	18.9
Other current liabilities	(81.4)	12.4
Other	2.0	(4.3)
Net cash provided by operating activities	179.3	243.9
Cash flows from investing activities:
Purchases of property, plant, and equipment	(55.2)	(61.8)
Proceeds from sale of property, plant, and equipment	5.5	2.3
Acquisition of businesses, net of cash acquired	0.0	(613.7)
Proceeds from sale of investment in unconsolidated affiliate	13.2	0.0
Other investing activities	(0.2)	0.0
Net cash used for investing activities	(36.7)	(673.2)
Cash flows from financing activities:
Issuance of long-term debt	1.1	1.7
Repurchases of common stock	(357.9)	0.0
Proceeds from stock option exercises and other	2.7	10.0
Excess tax benefits from share-based payments	5.5	19.7
Dividends paid	(17.2)	(17.1)
Net cash (used for) provided by financing activities	(365.8)	14.3
Effect of exchange rate changes on cash and cash equivalents	(0.3)	(4.8)
Net change in cash and cash equivalents	(223.5)	(419.8)
Cash and cash equivalents at beginning of period	413.2	756.8
Cash and cash equivalents at end of period	189.7	337.0
Supplemental cash flow information:
Income taxes paid during the period	127.4	88.7
Interest paid during the period	$ 22.9	$ 22.2

Description of Business and Basis of Presentation	9 Months Ended
Description of Business and Basis of Presentation	May 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	Description of Business and Basis of Presentation Acuity Brands, Inc. (“Acuity Brands”) is the parent company of Acuity Brands Lighting, Inc. (“ABL”) and other subsidiaries (Acuity Brands, ABL, and such other subsidiaries are collectively referred to herein as the “Company”). The Company’s lighting and building management solutions include devices such as luminaires, lighting controls, controllers for various building systems, power supplies, prismatic skylights, and drivers, as well as integrated systems designed to optimize energy efficiency and comfort for various indoor and outdoor applications. Additionally, the Company continues to expand its solutions portfolio, including software and services, to provide a host of other economic benefits resulting from data analytics that enables the Internet of Things (“IoT”) and supports the advancement of smart buildings, smart cities, and the smart grid. The Company has one reportable segment serving the North American and select international markets. The Consolidated Financial Statements have been prepared by the Company in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and present the financial position, results of operations, and cash flows of Acuity Brands and its wholly-owned subsidiaries. These unaudited interim consolidated financial statements reflect all normal and recurring adjustments that are, in the opinion of management, necessary to present fairly the Company’s consolidated financial position as of May 31, 2017, the consolidated comprehensive income for the three and nine months ended May 31, 2017 and 2016, and the consolidated cash flows for the nine months ended May 31, 2017 and 2016. Certain information and footnote disclosures normally included in the Company’s annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. However, the Company believes that the disclosures included herein are adequate to make the information presented not misleading. These financial statements should be read in conjunction with the audited consolidated financial statements of the Company as of and for the three years ended August 31, 2016 and notes thereto included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on October 27, 2016 (File No. 001-16583) (“Form 10-K”). The results of operations for the three and nine months ended May 31, 2017 and 2016 are not necessarily indicative of the results to be expected for the full fiscal year due primarily to seasonality, which results in the net sales and net income of the Company generally being higher in the second half of its fiscal year, the impact of any acquisitions, and, among other reasons, the continued uncertainty of general economic conditions that may impact the key end markets of the Company for the remainder of fiscal 2017.

Significant Accounting Policies	9 Months Ended
Significant Accounting Policies	May 31, 2017
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Use of Estimates The preparation of financial statements and related disclosures in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expense during the reporting period. Actual results could differ from those estimates. Reclassifications Certain prior-period amounts have been reclassified to conform to the current year presentation. No material reclassifications occurred during the current period.

Acquisitions and Investments	9 Months Ended
Acquisitions and Investments	May 31, 2017
Business Combinations [Abstract]
Acquisitions and Investments	Acquisitions and Investments The Company does not consider acquisitions a critical element of its strategy but seeks opportunities for growth through acquisitions and investments. In recent years, the Company has acquired or made investments in a number of businesses that participate in the lighting, building management, and related markets, including the businesses described below. The acquisitions and investments were made with the intent to further expand and complement the Company's lighting and building management solutions portfolio. The purchased companies were fully integrated into the Company's operations at their respective acquisition dates. DGLogik, Inc. On June 30, 2016, using cash on hand and treasury stock, the Company acquired DGLogik, Inc. (“DGLogik”), a provider of innovative software solutions that enable and visualize the IoT. DGLogik's solutions provide users with the intelligence to better manage energy usage and improve facility performance. DGLogik is headquartered in the San Francisco Bay Area, California. The operating results of DGLogik have been included in the Company's consolidated financial statements since the date of acquisition and are not material to the Company's financial condition, results of operations, or cash flows. The Company finalized the acquisition accounting for DGLogik during fiscal 2017, and the amounts are reflected on the Consolidated Balance Sheets. There were no material changes to the Company’s financial statements as a result of the finalization of the acquisition accounting. Juno Lighting LLC On December 10, 2015, using cash on hand, the Company acquired for approximately $380 million all of the equity interests of Juno Lighting LLC (“Juno Lighting”), a leading provider of downlighting and track lighting fixtures for both residential and commercial applications. Juno Lighting is headquartered in Des Plaines, Illinois. At the time of acquisition, Juno Lighting generated annual revenues of approximately $250 million. The operating results of Juno Lighting have been included in the Company's consolidated financial statements since the date of acquisition. Provisional amounts recognized at the acquisition date related to the Juno Lighting acquisition were prospectively adjusted in the second quarter of fiscal 2017 to reflect the finalization of the valuation of customer relationships and certain accrued liabilities. These adjustments resulted in an increase to intangible assets, net of $81.1 million, a decrease to goodwill of $50.5 million, an increase to deferred income tax liabilities of $29.6 million, and a decrease to net operating working capital of $1.0 million in the second quarter. The fair values of assets acquired and liabilities assumed were finalized and reflected on the Consolidated Balance Sheets prospectively as of February 28, 2017. Geometri LLC On December 9, 2015, using cash on hand, the Company acquired certain assets and assumed certain liabilities of Geometri, LLC (“Geometri”), a provider of a software and services platform for mapping, navigation, and analytics. The operating results of Geometri have been included in the Company’s consolidated financial statements since the date of acquisition. The Company finalized the acquisition accounting for Geometri during fiscal 2017, and the amounts are reflected on the Consolidated Balance Sheets. There were no material changes to the Company’s financial statements as a result of the finalization of the acquisition accounting. Distech Controls Inc. On September 1, 2015, using cash on hand, the Company acquired for approximately $240 million all of the outstanding capital stock of Distech Controls Inc. (“Distech Controls”), a provider of building automation solutions that allow for the integration of lighting, HVAC, access control, closed circuit television, and related systems. Distech Controls is headquartered in Quebec, Canada. At the time of acquisition, Distech Controls generated annual revenues of approximately $60 million. The Company finalized the acquisition accounting for Distech Controls during fiscal 2016, and the amounts are reflected on the Consolidated Balance Sheets. There were no material changes to the Company’s financial statements as a result of the finalization of the acquisition accounting.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1497-128463

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1490-128463

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1392-128463

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e7008-128479

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1486-128463

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e6927-128479

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=73530397&loc=d3e4845-128472

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1524-128463

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e7000-128479

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=73530397&loc=d3e4922-128472

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=73530397&loc=d3e4934-128472

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=73530397&loc=d3e4926-128472

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=73530397&loc=SL65897772-128472

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1383-128463

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e6996-128479

+ Details

New Accounting Pronouncements	9 Months Ended
New Accounting Pronouncements	May 31, 2017
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements Accounting Standards Adopted in Fiscal 2017 In January 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-04, Simplifying the Test for Goodwill Impairment (“ASU 2017-04”). This guidance eliminates the requirement to determine the implied fair value of goodwill to measure an impairment of goodwill. Rather, goodwill impairment charges will be calculated as the amount by which a reporting unit's carrying amount exceeds its fair value. Adoption of the provisions in ASU 2017-04 is required for the Company for its annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company adopted ASU 2017-04 effective beginning in the current period. The provisions of ASU 2017-04 did not have a material effect on the Company's financial condition, results of operations, or cash flows. In July 2015, the FASB issued ASU No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments (“ASU 2015-16”), which simplifies the accounting for measurement-period adjustments to provisional amounts recognized in a business combination. ASU 2015-16 eliminates the requirement to retrospectively account for adjustments made to provisional amounts recorded in connection with a business combination and is effective for fiscal years (and interim reporting periods within those years) beginning after December 15, 2015. The Company adopted ASU 2017-04 this fiscal year and presented all adjustments to provisional amounts recorded in connection within a business combination in fiscal 2017 prospectively. In April 2015, the FASB issued ASU No. 2015-05, Customer's Accounting For Fees Paid In A Cloud Computing Arrangement (“ASU 2015-05”), which provides guidance for a customer's accounting for cloud computing costs. ASU 2015-05 is effective for fiscal years (and interim reporting periods within those years) beginning after December 15, 2015. The provisions of ASU 2015-05 did not have a material effect on the Company's financial condition, results of operations, or cash flows. Accounting Standards Yet to Be Adopted In March 2017, the FASB issued ASU No. 2017-05, Compensation — Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost (“ASU 2017-05”), which will change the presentation of net periodic benefit cost related to employer sponsored defined benefit plans and other postretirement benefits. Service cost will be included within the same income statement line item as other compensation costs arising from services rendered during the period, while other components of net periodic benefit pension cost will be presented separately outside of operating income. Additionally, only service costs may be capitalized in assets. ASU 2017-05 is effective for fiscal years (and interim reporting periods within those years) beginning after December 15, 2017. The provisions of ASU 2017-05 are not expected to have a material effect on the Company's financial condition, results of operations, or cash flows. In January 2017, the FASB issued ASU No. 2017-01, Clarifying the Definition of a Business (“ASU 2017-01”), which requires an evaluation of whether substantially all of the fair value of assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets. If so, the transaction does not qualify as a business. The guidance also requires an acquired business to include at least one substantive process and narrows the definition of outputs. The Company is required to apply this guidance to annual periods beginning after December 15, 2017, including interim periods within those periods. The Company is currently evaluating the impact of the provisions of ASU 2017-01 and intends to implement the standard as required in fiscal 2019. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (“ASU 2016-15”), which is intended to reduce the diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows including debt prepayment and extinguishment costs, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, and proceeds from the settlement of corporate-owned life insurance. ASU 2016-15 is effective for fiscal years (and interim reporting periods within those years) beginning after December 15, 2017. The Company intends to implement the standard as required in fiscal 2019, and the provisions of ASU 2016-15 are not expected to have a material impact on the Company's financial statement disclosures. In March 2016, the FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting, (“ASU 2016-09”), which will change certain aspects of accounting for share-based payments to employees. ASU 2016-09 is effective for fiscal years (and interim reporting periods within those years) beginning after December 15, 2016. The standard requires that all excess tax benefits and deficiencies currently recorded as additional paid-in capital be prospectively recorded in income tax expense. As such, implementation of this standard could create volatility in the Company's effective income tax rate on a quarter by quarter basis. The volatility in the effective income tax rate is due primarily to fluctuations in the Company's stock price and the timing of stock option exercises and vesting of restricted share grants. The standard also requires excess tax benefits to be presented as an operating activity on the statement of cash flows rather than as a financing activity and taxes paid for employee withholdings to be presented as a financing activity. The Company will implement the standard as required in fiscal 2018. Excess tax benefits will be recorded within income tax expense on a prospective basis as required by the standard; however, the Company plans to elect to present changes to the statement of cash flows on a retrospective basis as allowed by the update in order to maintain comparability between fiscal years. In February 2016, the FASB issued ASU No. 2016-02, Leases (“ASU 2016-02”), which requires lessees to include most leases on the balance sheet. ASU 2016-02 is effective for fiscal years (and interim reporting periods within those years) beginning after December 15, 2018. The Company is currently evaluating the impact of the provisions of ASU 2016-02 and intends to implement the standard as required in fiscal 2020. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which will replace most existing revenue recognition guidance in U.S. GAAP. ASU 2014-09 outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. The standard also requires additional disclosures about the nature, timing, and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. ASU 2014-09 permits two transition methods: the full retrospective method and the modified retrospective method. Under the full retrospective method, the standard would be applied to each prior reporting period presented with the cumulative effect of applying the standard recognized at the earliest period shown. Under the modified retrospective method, the cumulative effect of applying the standard would be recognized at the date of initial application. In March 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers: Principal versus Agent Considerations (Reporting Revenue Gross versus Net), which clarifies the guidance in ASU 2014-09 and has the same effective date as the original standard. During the three months ended July 1, 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing; ASU 2016-11, Rescission of SEC Guidance Because of Accounting Standards Updates 2014-09 and 2014-16 Pursuant to Staff Announcements at the March 3, 2016 EITF Meeting; and ASU 2016-12, Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients. These amendments are intended to improve and clarify the implementation guidance of ASU 2014-09 and have the same effective date as the original standard. The Company has an implementation team tasked with identifying potential differences that will result from applying the new revenue recognition standard to the Company's contracts with its customers. The implementation team reports the findings and progress of the project to management on a frequent basis and the Audit Committee of the Board of Directors on a quarterly basis. The implementation team is completing contract reviews and continues to evaluate the results of those reviews with respect to potential changes from adopting the new standard on the Company's consolidated financial statements. Additionally, the implementation team is in the process of identifying appropriate changes to the Company's business processes, systems, and controls to support recognition and disclosure under the new standard. The Company will adopt the requirements of the new standard effective September 1, 2018. All other newly issued accounting pronouncements not yet effective have been deemed either immaterial or not applicable.

- Definition

The entire disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6507316

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Direct Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=66092750

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22583-107794

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Indirect Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6515603

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22580-107794

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.10-01.(b)(6))
-URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Accounting Change
-URI http://asc.fasb.org/extlink&oid=6503790

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22499-107794

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Retrospective Application
-URI http://asc.fasb.org/extlink&oid=6523989

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=68064558&loc=d3e765-108305

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=68064558&loc=d3e725-108305

+ Details

Fair Value Measurements

9 Months Ended

May 31, 2017

Fair Value Disclosures [Abstract]

Fair Value Measurements

The Company determines fair value measurements based on the assumptions a market participant would use in pricing the asset or liability. Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures (“ASC 820”), establishes a three level hierarchy making a distinction between market participant assumptions based on (i) unadjusted quoted prices for identical assets or liabilities in an active market (Level 1), (ii) quoted prices in markets that are not active or inputs that are observable either directly or indirectly for substantially the full term of the asset or liability (Level 2), and (iii) prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement (Level 3).

The Company's cash and cash equivalents (Level 1), which are required to be carried at fair value and measured on a recurring basis, were $189.7 million and $413.2 million as of May 31, 2017 and August 31, 2016, respectively.

The Company utilizes valuation methodologies to determine the fair values of its financial assets and liabilities in conformity with the concepts of “exit price” and the fair value hierarchy as prescribed in ASC 820. All valuation methods and assumptions are validated at least quarterly to ensure the accuracy and relevance of the fair values. There were no material changes to the valuation methods or assumptions used to determine fair values during the current period.

The Company used quoted market prices to determine the fair value of Level 1 assets and liabilities. No transfers between the levels of the fair value hierarchy occurred during the current fiscal period. In the event of a transfer in or out of a level within the fair value hierarchy, the transfers would be recognized on the date of occurrence.

Disclosures of fair value information about financial instruments (whether or not recognized in the balance sheet), for which it is practicable to estimate that value, are required each reporting period in addition to any financial instruments carried at fair value on a recurring basis as prescribed by ASC Topic 825, Financial Instruments (“ASC 825”). In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows.

The carrying values and estimated fair values of certain of the Company’s financial instruments were as follows at May 31, 2017 and August 31, 2016 (in millions):



	May 31, 2017				August 31, 2016
	Carrying Value		Fair Value		Carrying Value		Fair Value
Assets:
Investment in noncontrolling affiliate	$	—	$	—	$	8.0	$	14.4
Liabilities:
Senior unsecured public notes, net of unamortized discount and deferred costs	$	349.0	$	382.5	$	348.7	$	388.8
Industrial revenue bond	4.0		4.0		4.0		4.0
Bank loans	3.7		3.7		2.5		2.6

Investment in noncontrolling affiliate represents a strategic investment accounted for using the cost method. The Company based the fair value of the investment as of August 31, 2016 on an offer by a third party to purchase the business (Level 3). The Company sold the investment during October 2016, resulting in the recognition of a gain of $7.2 million, which is reflected in Miscellaneous income, net on the Consolidated Statements of Comprehensive Income.

The senior unsecured public notes are carried at the outstanding balance, net of unamortized bond discount and deferred costs, as of the end of the reporting period. Fair value is estimated based on discounted future cash flows using rates currently available for debt of similar terms and maturity (Level 2).

The industrial revenue bond is carried at the outstanding balance as of the end of the reporting period. The industrial revenue bond is a tax-exempt, variable-rate instrument that resets on a weekly basis; therefore, the Company estimates that the face amount of the bond approximates fair value as of May 31, 2017 based on bonds of similar terms and maturity (Level 2).

The bank loans are carried at the outstanding balance as of the end of the reporting period. Fair value is estimated based on discounted future cash flows using rates currently available for debt of similar terms and maturity (Level 2).

ASC 825 excludes certain financial instruments and all nonfinancial instruments from its disclosure requirements. Accordingly, the aggregate fair value amounts presented do not represent the underlying value to the Company. In many cases, the fair value estimates cannot be substantiated by comparison to independent markets, nor can the disclosed value be realized in immediate settlement of the instruments. In evaluating the Company’s management of liquidity and other risks, the fair values of all assets and liabilities should be taken into consideration, not only those presented above.

- Definition

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

+ References + Details

Goodwill and Intangible Assets

9 Months Ended

May 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Through multiple acquisitions, the Company acquired intangible assets consisting primarily of trademarks and trade names associated with specific products with finite lives, definite-lived distribution networks, patented technology, non-compete agreements, and customer relationships, which are amortized over their estimated useful lives. Indefinite-lived intangible assets consist of trade names that are expected to generate cash flows indefinitely.

The Company recorded amortization expense of $8.2 million and $7.5 million during the three months ended May 31, 2017 and 2016, respectively, and $21.9 million and $18.5 million during the nine months ended May 31, 2017 and 2016, respectively. Amortization expense is generally recorded on a straight-line basis and is expected to be approximately $28.3 million in fiscal 2017, $28.4 million in fiscal 2018, $28.4 million in fiscal 2019, $28.0 million in fiscal 2020, and $27.7 million in fiscal 2021.

During the current fiscal year, the Company finalized the purchase accounting allocation for Juno Lighting and DGLogik. Refer to the Acquisitions & Investments footnote for additional information regarding the purchase price allocations for these acquisitions.

The change in the carrying amount of goodwill during the nine months ended May 31, 2017 is summarized below (in millions):



Balance at August 31, 2016	$	947.8
Adjustments to provisional amounts	(56.5		)
Foreign currency translation adjustments	(3.8		)
Balance at May 31, 2017	$	887.5

Further discussion of the Company’s goodwill and other intangible assets is included within the Significant Accounting Policies footnote of the Notes to Consolidated Financial Statements within the Company’s Form 10-K.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Inventories

9 Months Ended

May 31, 2017

Inventory Disclosure [Abstract]

Inventories

Inventories include materials, labor, in-bound freight, and related manufacturing overhead, are stated at the lower of cost (on a first-in, first-out or average cost basis) or market, and consist of the following (in millions):



	May 31, 2017			August 31, 2016
Raw materials, supplies, and work in process ⁽¹⁾	$	183.5		$	170.3
Finished goods	184.8			145.3
Inventories excluding reserves	368.3			315.6
Less: reserves	(26.1		)	(20.4		)
Total inventories	$	342.2		$	295.2

_______________________________________


⁽¹⁾	Due to the immaterial amount of estimated work in process and the short lead times for the conversion of raw materials to finished goods, the Company does not believe the segregation of raw materials and work in process to be meaningful information.

Earnings Per Share

9 Months Ended

May 31, 2017

Earnings Per Share [Abstract]

Earnings per Share

Earnings Per Share

Prior to fiscal 2017, basic earnings per share was computed by dividing net earnings available to common stockholders by the weighted average number of common shares outstanding, which was modified to include the effects of all participating securities during the period, as prescribed by the two-class method under ASC Topic 260, Earnings Per Share (“ASC 260”). Participating securities included unvested share-based payment awards with a right to receive nonforfeitable dividends. The equity plan approved by stockholders in January 2013 changed the dividend provisions, causing share-based payment awards to lose the right to receive nonforfeitable dividends. Due to this change, any shares granted after January 2013 were not participating securities as prescribed by the two-class method under ASC 260 and were accounted for in the diluted earnings per share calculation described below.

The impact of participating securities was not material for the three and nine months ended May 31, 2017. Therefore, basic earnings per share for these periods is computed by dividing net earnings available to common stockholders by the weighted average number of common shares outstanding. Diluted earnings per share is computed similarly but reflects the potential dilution that would occur if dilutive options were exercised, all unvested share-based payment awards were vested, and other distributions related to deferred stock agreements were incurred.

The following table calculates basic earnings per common share and diluted earnings per common share for the three and nine months ended May 31, 2017 and 2016 (in millions, except per share data):



	Three Months Ended				Nine Months Ended
	May 31, 2017		May 31, 2016		May 31, 2017		May 31, 2016
Net income	$	82.2	$	74.0	$	231.2	$	207.9
Basic weighted average shares outstanding	43.1		43.5		43.5		43.4
Common stock equivalents	0.2		0.3		0.2		0.3
Diluted weighted average shares outstanding	43.3		43.8		43.7		43.7
Basic earnings per share	$	1.91	$	1.70	$	5.31	$	4.78
Diluted earnings per share	$	1.90	$	1.69	$	5.29	$	4.75

The following table presents stock options and restricted stock awards that were excluded from the diluted earnings per share calculation for the three and nine months ended May 31, 2017 and 2016 as the effect of inclusion would have been antidilutive:



	Three Months Ended		Nine Months Ended
	May 31, 2017	May 31, 2016	May 31, 2017	May 31, 2016
Stock options	149,000	47,406	113,074	56,840
Restricted stock awards	176,249	—	87,219	12,529

Further discussion of the Company’s stock options and restricted stock awards is included within the Common Stock and Related Matters and Share-Based Payments footnotes of the Notes to Consolidated Financial Statements within the Company’s Form 10-K.

Comprehensive Income

9 Months Ended

May 31, 2017

Equity [Abstract]

Comprehensive Income

Comprehensive income represents a measure of all changes in equity that result from recognized transactions and other economic events other than transactions with owners in their capacity as owners. Other comprehensive income (loss) for the Company includes foreign currency translation and pension adjustments.

The following table presents the changes in each component of accumulated other comprehensive income (loss) during the nine months ended May 31, 2017 (in millions):



	Foreign Currency Items			Defined Benefit Pension Plans			Accumulated Other Comprehensive Loss Items
Balance at August 31, 2016	$	(47.7	)	$	(91.7	)	$	(139.4	)
Other comprehensive loss before reclassifications	(6.2		)	—			(6.2		)
Amounts reclassified from accumulated other comprehensive income	—			6.1			6.1
Net current period other comprehensive (loss) income	(6.2		)	6.1			(0.1		)
Balance at May 31, 2017	$	(53.9	)	$	(85.6	)	$	(139.5	)

The following tables present the tax expense or benefit allocated to each component of other comprehensive income (loss) for the three and nine months ended May 31, 2017 and 2016 (in millions):



	Three Months Ended
	May 31, 2017										May 31, 2016
	Before Tax Amount				Tax (Expense) Benefit			Net of Tax Amount			Before Tax Amount				Tax (Expense) Benefit			Net of Tax Amount
Foreign currency translation adjustments	$	2.4			$	—		$	2.4		$	10.0			$	—		$	10.0
Defined benefit pension plans:
Amortization of defined benefit pension items:
Prior service cost	0.8			⁽¹⁾	(0.2		)	0.6			0.8			⁽¹⁾	(0.3		)	0.5
Actuarial losses	2.2			⁽¹⁾	(0.8		)	1.4			1.2			⁽¹⁾	(0.4		)	0.8
Total defined benefit pension plans, net	3.0				(1.0		)	2.0			2.0				(0.7		)	1.3
Other comprehensive income (loss)	$	5.4			$	(1.0	)	$	4.4		$	12.0			$	(0.7	)	$	11.3

	Nine Months Ended
	May 31, 2017										May 31, 2016
	Before Tax Amount				Tax (Expense) Benefit			Net of Tax Amount			Before Tax Amount				Tax (Expense) Benefit			Net of Tax Amount
Foreign currency translation adjustments	$	(6.2	)		$	—		$	(6.2	)	$	(3.4	)		$	—		$	(3.4	)
Defined benefit pension plans:
Amortization of defined benefit pension items:
Prior service cost	2.4			⁽¹⁾	(0.7		)	1.7			2.3			⁽¹⁾	(0.8		)	1.5
Actuarial losses	6.6			⁽¹⁾	(2.2		)	4.4			3.7			⁽¹⁾	(1.2		)	2.5
Total defined benefit pension plans, net	9.0				(2.9		)	6.1			6.0				(2.0		)	4.0
Other comprehensive income (loss)	$	2.8			$	(2.9	)	$	(0.1	)	$	2.6			$	(2.0	)	$	0.6

_______________________________________


⁽¹⁾	These accumulated other comprehensive income (loss) components are included in net periodic pension cost. See Pension Plans footnote within the Notes to Consolidated Financial Statements for additional details.

- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=66004124&loc=d3e689-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=66004124&loc=SL7669619-108580

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=66004124&loc=d3e640-108580

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=66004124&loc=d3e716-108580

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=66004124&loc=d3e709-108580

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=66004124&loc=d3e637-108580

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=66004124&loc=d3e681-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Reclassification Adjustments
-URI http://asc.fasb.org/extlink&oid=6522872

+ Details

Debt

9 Months Ended

May 31, 2017

Debt Disclosure [Abstract]

Debt

Lines of Credit

On August 27, 2014, the Company executed a $250.0 million revolving credit facility (the “Revolving Credit Facility”). The Revolving Credit Facility will mature, and all amounts outstanding will be due and payable, on August 27, 2019. The Company had no borrowings outstanding under the Revolving Credit Facility as of May 31, 2017.

The Revolving Credit Facility contains financial covenants, including a minimum interest coverage ratio (“Minimum Interest Coverage Ratio”) and a leverage ratio (“Maximum Leverage Ratio”) of total indebtedness to earnings before interest, taxes, depreciation, and amortization expense (“EBITDA”), as such terms are defined in the Revolving Credit Facility agreement. These ratios are computed at the end of each fiscal quarter for the most recent 12-month period. The Revolving Credit Facility allows for a Minimum Interest Coverage Ratio of 2.50 and a Maximum Leverage Ratio of 3.50, subject to certain conditions defined in the financing agreement. As of May 31, 2017, the Company was in compliance with all financial covenants under the Revolving Credit Facility. At May 31, 2017, the Company had additional borrowing capacity under the Revolving Credit Facility of $244.7 million under the most restrictive covenant in effect at the time, which represents the full amount of the Revolving Credit Facility less outstanding letters of credit of $5.3 million issued under the Revolving Credit Facility. As of May 31, 2017, the Company had outstanding letters of credit totaling $10.2 million, primarily for securing collateral requirements under the Company's casualty insurance programs and for providing credit support for the Company’s industrial revenue bond, including $5.3 million issued under the Revolving Credit Facility.

Generally, amounts outstanding under the Revolving Credit Facility bear interest at a Eurocurrency Rate. Eurocurrency Rate advances can be denominated in a variety of currencies, including U.S. Dollars, and amounts outstanding bear interest at a periodic fixed rate equal to the London Inter Bank Offered Rate (“LIBOR”) for the applicable currency plus a margin as determined by the Company's leverage ratio (“Applicable Margin”). The Applicable Margin is based on the Company’s leverage ratio, as defined in the Revolving Credit Facility, with such margin ranging from 1.000% to 1.575%.

The Company is required to pay certain fees in connection with the Revolving Credit Facility, including administrative service fees and an annual facility fee. The annual facility fee is payable quarterly, in arrears, and is determined by the Company’s leverage ratio as defined in the Revolving Credit Facility. This facility fee ranges from 0.125% to 0.300% of the aggregate $250.0 million commitment of the lenders under the Revolving Credit Facility.

Long-term Debt

At May 31, 2017, the Company had $350.0 million of publicly-traded, senior unsecured notes outstanding at a 6% interest rate that are scheduled to mature in December 2019 (the “Notes”) and $4.0 million of tax-exempt industrial revenue bonds that are scheduled to mature in 2021. The Company also had $3.7 million outstanding under fixed-rate bank loans. Further discussion of the Company's long-term debt is included within the Debt and Lines of Credit footnote of the Notes to Consolidated Financial Statements within the Company’s Form 10-K.

Interest Expense, net

Interest expense, net, is comprised primarily of interest expense on long-term debt, obligations in connection with non-qualified retirement benefits, and Revolving Credit Facility borrowings partially offset by interest income on cash and cash equivalents.

The following table summarizes the components of interest expense, net for the three and nine months ended May 31, 2017 and 2016 (in millions):



	Three Months Ended						Nine Months Ended
	May 31, 2017			May 31, 2016			May 31, 2017			May 31, 2016
Interest expense	$	8.5		$	8.3		$	25.6		$	24.9
Interest income	(0.4		)	(0.2		)	(1.3		)	(0.7		)
Interest expense, net	$	8.1		$	8.1		$	24.3		$	24.2

Commitments and Contingencies

9 Months Ended

May 31, 2017

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

In the normal course of business, the Company is subject to the effects of certain contractual stipulations, events, transactions, and laws and regulations that may, at times, require the recognition of liabilities, such as those related to self-insurance reserves and claims, legal and contractual issues, environmental laws and regulations, guarantees, and indemnities. The Company establishes reserves when the associated costs related to uncertainties or guarantees become probable and can be reasonably estimated. For the period ended May 31, 2017, no material changes have occurred in the Company's reserves for self-insurance, litigation, environmental matters, guarantees and indemnities, or relevant events and circumstances, from those disclosed in the Commitments and Contingencies footnote of the Notes to Consolidated Financial Statements within the Company's Form 10-K.

Trade Compliance Matters

Prior to the close of the acquisition, Distech Controls discovered shipments by it and its subsidiaries of standard commercial building control products directly or indirectly to customers in a country that may constitute violations of U.S. and Canadian sanctions or export regulations, including those administered by the U.S. Office of Foreign Asset Control (“OFAC”) and the Export Controls Division of the Canadian Department of Foreign Affairs, Trade and Development (“DFATD”). Distech Controls estimates that it received total revenue of approximately $0.3 million from these shipments. Distech Controls voluntarily self-reported the potential violations to OFAC and DFATD and retained outside counsel that conducted an investigation of the matter and filed a full voluntary disclosure with these agencies. The Company has assessed the matter and implemented related ongoing compliance and remediation efforts.

The Company intends to fully cooperate with respect to any investigations by governmental agencies of the potential violations. The former shareholders of Distech Controls have jointly agreed to indemnify the Company for damages, as a result of, in respect of, connected with or arising out of the potential violations or any inaccuracy or breach of the representations made by Distech Controls to the Company related thereto, up to a specified aggregate amount, which is not material to the Company's consolidated financial statements. These indemnity obligations are supported by an escrow account containing proceeds from the transaction equal to the specified aggregate amount. The Company currently believes that this indemnity will be sufficient to cover any damages related to the potential violations and the costs and expenses related to the investigation thereof and any related remedial actions. The Company therefore does not expect this matter to have a material adverse effect on the business, financial condition, cash flow, or results of operations of the Company. There can be no assurance, however, that actual damages, costs and expenses will not be in excess of the indemnity or that the Company and its affiliates will not be subject to other damages, including but not limited to damage to the Company's reputation or monetary or non-monetary penalties as permitted under applicable trade laws, that may not be fully covered by the indemnity. Estimated liabilities for legal fees as well as potential fines or penalties related to this matter are included in Other accrued liabilities within the Consolidated Balance Sheets.

Additionally, in the course of routine reviews of import and export activity of its other subsidiaries, the Company determined that it misclassified and inaccurately valued certain international shipments of products. The Company is conducting a detailed review of this activity to determine the extent of any liabilities and the appropriate remedial measures. At this time, the Company is unable to determine the likelihood or amount of any loss associated with these shipments.

Product Warranty and Recall Costs

The Company records an allowance for the estimated amount of future warranty costs when the related revenue is recognized. Estimated costs related to product recalls based on a formal campaign soliciting repair or return of that product are accrued when they are deemed to be probable and can be reasonably estimated. Estimated future warranty and recall costs are primarily based on historical experience of identified warranty and recall claims. However, there can be no assurance that future warranty or recall costs will not exceed historical amounts or that new technology products, which may include extended warranties, may not generate unexpected costs. If actual future warranty or recall costs exceed historical amounts, additional allowances may be required, which could have a material adverse impact on the Company’s results of operations and cash flows.

Reserves for product warranty and recall costs are included in Other accrued liabilities and Other long-term liabilities on the Consolidated Balance Sheets. The changes in the reserves for product warranty and recall costs during the nine months ended May 31, 2017 and 2016 are summarized as follows (in millions):



	Nine Months Ended
	May 31, 2017			May 31, 2016
Beginning balance	$	15.5		$	9.6
Warranty and recall costs	25.9			18.8
Payments and other deductions	(22.4		)	(14.5		)
Acquired warranty and recall liabilities	—			0.3
Ending balance	$	19.0		$	14.2

Litigation

The Company is subject to various legal claims arising in the normal course of business, including patent infringement, employment matters, and product liability claims. Based on information currently available, it is the opinion of management that the ultimate resolution of pending and threatened legal proceedings will not have a material adverse effect on the financial condition, results of operations, or cash flows of the Company. However, in the event of unexpected future developments, it is possible that the ultimate resolution of any such matters, if unfavorable, could have a material adverse effect on the financial condition, results of operations, or cash flows of the Company in future periods. The Company establishes reserves for legal claims when associated costs become probable and can be reasonably estimated. The actual costs of resolving legal claims may be substantially higher than the amounts reserved for such claims. However, the Company cannot make a meaningful estimate of actual costs to be incurred that could possibly be higher or lower than the amounts reserved.

Share-based Payments

9 Months Ended

May 31, 2017

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

Share-based Payments

The Company accounts for share-based payments through the measurement and recognition of compensation expense for share-based payment awards made to employees and directors of the Company, including stock options and restricted shares (all part of the Company's equity incentive plan), and share units representing certain deferrals into the Company's director deferred compensation plan or the Company's supplemental deferred savings plan.

The following table presents share-based payment expense and new shares issued upon exercise of stock options for the three and nine months ended May 31, 2017 and 2016 (in millions, except shares):



	Three Months Ended				Nine Months Ended
	May 31, 2017		May 31, 2016		May 31, 2017		May 31, 2016
Share-based payment expense	$	8.1	$	6.9	$	24.1	$	19.9
Shares issued from option exercises	2,524		68,159		14,554		185,448

Further details regarding each of these award programs and the Company's share-based payments are included within the Share-Based Payments footnote of the Notes to Consolidated Financial Statements within the Company’s Form 10-K.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References + Details

Pension Plans

9 Months Ended

May 31, 2017

Compensation and Retirement Disclosure [Abstract]

Pension Plans

The Company has several pension plans, both qualified and non-qualified, covering certain hourly and salaried employees. Benefits paid under these plans are based generally on employees’ years of service and/or compensation during the final years of employment. Plan assets are invested primarily in equity and fixed income securities.

Net periodic pension cost for the Company’s defined benefit pension plans during the three and nine months ended May 31, 2017 and 2016 included the following components before tax (in millions):



	Three Months Ended						Nine Months Ended
	May 31, 2017			May 31, 2016			May 31, 2017			May 31, 2016
Service cost	$	0.9		$	0.9		$	2.7		$	2.7
Interest cost	2.0			2.4			6.0			7.2
Expected return on plan assets	(2.8		)	(2.8		)	(8.4		)	(8.4		)
Amortization of prior service cost	0.8			0.8			2.4			2.3
Recognized actuarial loss	2.2			1.2			6.6			3.7
Net periodic pension cost	$	3.1		$	2.5		$	9.3		$	7.5

Further details regarding the Company's pension plans are included within the Pension and Defined Contribution Plans footnote of the Notes to Consolidated Financial Statements within the Company’s Form 10-K.

Special Charge

9 Months Ended

May 31, 2017

Restructuring and Related Activities [Abstract]

Special Charge

During fiscal 2017 and 2016, the Company recorded pre-tax special charges for actions initiated to streamline the organization, including the integration of recent acquisitions. These streamlining activities include the consolidation of selected production activities and realignment of certain responsibilities, primarily within various selling, distribution, and administrative departments. The Company expects that these actions to streamline its business activities, in addition to those taken in previous fiscal years, will allow it to reduce spending in certain areas while permitting continued investment in future growth initiatives, such as new products, expanded market presence, and technology and innovation.

The details of the special charge during the three and nine months ended May 31, 2017 and 2016 are summarized as follows (in millions):



	Three Months Ended				Nine Months Ended
	May 31, 2017		May 31, 2016		May 31, 2017		May 31, 2016
Severance and employee-related costs	$	0.3	$	9.7	$	0.1	$	10.2
Lease termination costs	—		—		1.1		—
Production transfer and other costs	0.2		—		0.5		—
Special charge	$	0.5	$	9.7	$	1.7	$	10.2

As of May 31, 2017, remaining restructuring reserves were $2.7 million and are included in Accrued compensation and Other long-term liabilities on the Consolidated Balance Sheets. The changes in the reserves related to these programs during the nine months ended May 31, 2017 are summarized as follows (in millions):



	Severance and Employee-Related Costs			Lease Termination Costs			Total Restructuring Reserves
Balance at August 31, 2016	$	6.4		$	0.2		$	6.6
Costs incurred	0.1			1.1			1.2
Payments made during the period	(4.4		)	(0.7		)	(5.1		)
Balance at May 31, 2017	$	2.1		$	0.6		$	2.7

Supplemental Guarantor Condensed Consolidating Financial Statements

9 Months Ended

May 31, 2017

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Supplemental Guarantor Condensed Consolidating Financial Statements

In December 2009, ABL, the 100% owned and principal operating subsidiary of Acuity Brands, refinanced the then current outstanding debt through the issuance of the Notes. See Debt and Lines of Credit footnote of the Notes to Consolidated Financial Statements within the Company’s Form 10-K for further information.

In accordance with the registration rights agreement by and between ABL and the guarantors to the Notes and the initial purchasers of the Notes, ABL and the guarantors to the Notes filed a registration statement with the SEC for an offer to exchange the Notes for an issue of SEC-registered notes with identical terms. Due to the filing of the registration statement and offer to exchange, the Company determined the need for compliance with Rule 3-10 of SEC Regulation S-X (“Rule 3-10”). In lieu of providing separate audited financial statements for ABL and ABL IP Holding, the Company has included the accompanying Condensed Consolidating Financial Statements in accordance with Rule 3-10(d) of SEC Regulation S-X since the Notes are fully and unconditionally guaranteed by Acuity Brands and ABL IP Holding. The column marked “Parent” represents the financial condition, results of operations, and cash flows of Acuity Brands. The column marked “Subsidiary Issuer” represents the financial condition, results of operations, and cash flows of ABL. The column entitled “Subsidiary Guarantor” represents the financial condition, results of operations, and cash flows of ABL IP Holding. Lastly, the column listed as “Non-Guarantors” includes the financial condition, results of operations, and cash flows of the non-guarantor direct and indirect subsidiaries of Acuity Brands, which consist primarily of foreign subsidiaries. Consolidating adjustments were necessary in order to arrive at consolidated amounts. In addition, the equity method of accounting was used to calculate investments in subsidiaries. Accordingly, this basis of presentation is not intended to present the Company's financial condition, results of operations, or cash flows for any purpose other than to comply with the specific requirements for parent-subsidiary guarantor reporting.

CONDENSED CONSOLIDATING BALANCE SHEETS

(In millions)



	May 31, 2017
	Parent		Subsidiary Issuer		Subsidiary Guarantor		Non- Guarantors		Consolidating Adjustments			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	140.3	$	—	$	—	$	49.4	$	—		$	189.7
Accounts receivable, net	—		451.1		—		70.0		—			521.1
Inventories	—		319.4		—		22.8		—			342.2
Other current assets	6.2		16.3		—		18.6		—			41.1
Total current assets	146.5		786.8		—		160.8		—			1,094.1
Property, plant, and equipment, net	0.2		228.7		—		55.5		—			284.4
Goodwill	—		676.2		2.7		208.6		—			887.5
Intangible assets, net	—		238.5		110.7		99.1		—			448.3
Deferred income taxes	18.6		—		—		6.6		(20.6		)	4.6
Other long-term assets	0.1		10.6		—		0.9		—			11.6
Investments in and amounts due from affiliates	1,483.4		297.0		224.8		—		(2,005.2		)	—
Total assets	$	1,648.8	$	2,237.8	$	338.2	$	531.5	$	(2,025.8	)	$	2,730.5

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	0.7	$	337.0	$	—	$	22.1	$	—		$	359.8
Current maturities of long-term debt	—		—		—		0.4		—			0.4
Other accrued liabilities	16.6		134.4		—		33.1		—			184.1
Total current liabilities	17.3		471.4		—		55.6		—			544.3
Long-term debt	—		353.0		—		3.3		—			356.3
Deferred income taxes	—		95.8		—		31.6		(20.6		)	106.8
Other long-term liabilities	96.3		65.0		—		26.6		—			187.9
Amounts due to affiliates	—		—		—		112.2		(112.2		)	—
Total stockholders’ equity	1,535.2		1,252.6		338.2		302.2		(1,893.0		)	1,535.2
Total liabilities and stockholders’ equity	$	1,648.8	$	2,237.8	$	338.2	$	531.5	$	(2,025.8	)	$	2,730.5

CONDENSED CONSOLIDATING BALANCE SHEETS

(In millions)



	August 31, 2016
	Parent		Subsidiary Issuer		Subsidiary Guarantor		Non- Guarantors		Consolidating Adjustments			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	368.2	$	—	$	—	$	45.0	$	—		$	413.2
Accounts receivable, net	—		503.0		—		69.8		—			572.8
Inventories	—		274.7		—		20.5		—			295.2
Other current assets	2.5		14.3		—		24.9		—			41.7
Total current assets	370.7		792.0		—		160.2		—			1,322.9
Property, plant, and equipment, net	0.3		217.8		—		49.7		—			267.8
Goodwill	—		735.8		2.7		209.3		—			947.8
Intangible assets, net	—		168.1		113.4		99.9		—			381.4
Deferred income taxes	47.5		—		—		6.5		(48.9		)	5.1
Other long-term assets	1.4		20.4		—		1.2		—			23.0
Investments in and amounts due from affiliates	1,347.6		299.6		200.5		—		(1,847.7		)	—
Total assets	$	1,767.5	$	2,233.7	$	316.6	$	526.8	$	(1,896.6	)	$	2,948.0

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	1.2	$	371.3	$	—	$	28.5	$	—		$	401.0
Current maturities of long-term debt	—		—		—		0.2		—			0.2
Other accrued liabilities	14.5		215.4		—		41.4		—			271.3
Total current liabilities	15.7		586.7		—		70.1		—			672.5
Long-term debt	—		352.8		—		2.2		—			355.0
Deferred income taxes	—		95.5		—		28.0		(48.9		)	74.6
Other long-term liabilities	92.0		64.8		—		29.3		—			186.1
Amounts due to affiliates	—		—		—		96.9		(96.9		)	—
Total stockholders’ equity	1,659.8		1,133.9		316.6		300.3		(1,750.8		)	1,659.8
Total liabilities and stockholders’ equity	$	1,767.5	$	2,233.7	$	316.6	$	526.8	$	(1,896.6	)	$	2,948.0

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME

(In millions)



	Three Months Ended May 31, 2017
	Parent			Subsidiary Issuer			Subsidiary Guarantor		Non- Guarantors			Consolidating Adjustments			Consolidated
Net sales:
External sales	$	—		$	795.0		$	—	$	96.6		$	—		$	891.6
Intercompany sales	—			—			12.8		39.7			(52.5		)	—
Total sales	—			795.0			12.8		136.3			(52.5		)	891.6
Cost of products sold	—			446.6			—		104.3			(38.2		)	512.7
Gross profit	—			348.4			12.8		32.0			(14.3		)	378.9
Selling, distribution, and administrative expenses	11.4			213.4			0.9		35.5			(14.3		)	246.9
Intercompany charges	(1.3		)	0.1			—		1.2			—			—
Special charge	—			0.5			—		—			—			0.5
Operating (loss) profit	(10.1		)	134.4			11.9		(4.7		)	—			131.5
Interest expense, net	2.7			4.1			—		1.3			—			8.1
Equity earnings in subsidiaries	(90.5		)	2.7			—		—			87.8			—
Miscellaneous (income) expense, net	—			(2.0		)	—		0.8			—			(1.2		)
Income (loss) before provision for income taxes	77.7			129.6			11.9		(6.8		)	(87.8		)	124.6
(Benefit) provision for income taxes	(4.5		)	44.2			4.2		(1.5		)	—			42.4
Net income (loss)	82.2			85.4			7.7		(5.3		)	(87.8		)	82.2

Other comprehensive income (loss) items:
Foreign currency translation adjustments	2.4			2.4			—		—			(2.4		)	2.4
Defined benefit pension plans, net	2.0			0.7			—		0.7			(1.4		)	2.0
Other comprehensive income (loss) items, net of tax	4.4			3.1			—		0.7			(3.8		)	4.4
Comprehensive income (loss)	$	86.6		$	88.5		$	7.7	$	(4.6	)	$	(91.6	)	$	86.6

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME

(In millions)



	Three Months Ended May 31, 2016
	Parent			Subsidiary Issuer		Subsidiary Guarantor		Non- Guarantors			Consolidating Adjustments			Consolidated
Net sales:
External sales	$	—		$	753.8	$	—	$	97.7		$	—		$	851.5
Intercompany sales	—			—		12.2		29.9			(42.1		)	—
Total sales	—			753.8		12.2		127.6			(42.1		)	851.5
Cost of products sold	—			405.1		—		97.1			(28.6		)	473.6
Gross profit	—			348.7		12.2		30.5			(13.5		)	377.9
Selling, distribution, and administrative expenses	12.2			218.5		0.9		29.2			(13.6		)	247.2
Intercompany charges	(0.8		)	0.3		—		0.4			0.1			—
Special charge	—			9.7		—		—			—			9.7
Operating (loss) profit	(11.4		)	120.2		11.3		0.9			—			121.0
Interest expense, net	2.6			4.0		—		1.5			—			8.1
Equity earnings in subsidiaries	(83.0		)	0.3		—		—			82.7			—
Miscellaneous expense, net	—			0.1		—		0.2			—			0.3
Income (loss) before provision for income taxes	69.0			115.8		11.3		(0.8		)	(82.7		)	112.6
(Benefit) provision for income taxes	(5.0		)	38.3		4.6		0.7			—			38.6
Net income (loss)	74.0			77.5		6.7		(1.5		)	(82.7		)	74.0

Other comprehensive income (loss) items:
Foreign currency translation adjustments	10.0			10.0		—		—			(10.0		)	10.0
Defined benefit pension plans, net	1.3			0.4		—		0.4			(0.8		)	1.3
Other comprehensive income (loss) items, net of tax	11.3			10.4		—		0.4			(10.8		)	11.3
Comprehensive income (loss)	$	85.3		$	87.9	$	6.7	$	(1.1	)	$	(93.5	)	$	85.3

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

(In millions)



	Nine Months Ended May 31, 2017
	Parent			Subsidiary Issuer			Subsidiary Guarantor		Non- Guarantors			Consolidating Adjustments		Consolidated
Net cash provided by operating activities	$	139.0		$	31.7		$	—	$	8.6		$	—	$	179.3
Cash flows from investing activities:
Purchases of property, plant, and equipment	—			(44.3		)	—		(10.9		)	—		(55.2		)
Proceeds from sale of property, plant, and equipment	—			0.1			—		5.4			—		5.5
Proceeds from the sale of investment	—			13.2			—		—			—		13.2
Other investing activities	—			(0.2		)	—		—			—		(0.2		)
Net cash used for investing activities	—			(31.2		)	—		(5.5		)	—		(36.7		)
Cash flows from financing activities:
Issuance of long-term debt	—			—			—		1.1			—		1.1
Proceeds from stock option exercises and other	2.7			—			—		—			—		2.7
Repurchases of common stock	(357.9		)	—			—		—			—		(357.9		)
Excess tax benefits from share-based payments	5.5			—			—		—			—		5.5
Dividends paid	(17.2		)	—			—		—			—		(17.2		)
Net cash (used for) provided by financing activities	(366.9		)	—			—		1.1			—		(365.8		)
Effect of exchange rates changes on cash	—			(0.5		)	—		0.2			—		(0.3		)
Net change in cash and cash equivalents	(227.9		)	—			—		4.4			—		(223.5		)
Cash and cash equivalents at beginning of period	368.2			—			—		45.0			—		413.2
Cash and cash equivalents at end of period	$	140.3		$	—		$	—	$	49.4		$	—	$	189.7

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

(In millions)



	Nine Months Ended May 31, 2016
	Parent			Subsidiary Issuer			Subsidiary Guarantor		Non- Guarantors			Consolidating Adjustments		Consolidated
Net cash provided by operating activities	$	192.7		$	49.6		$	—	$	1.6		$	—	$	243.9
Cash flows from investing activities:
Purchases of property, plant, and equipment	—			(51.1		)	—		(10.7		)	—		(61.8		)
Proceeds from sale of property, plant, and equipment	—			0.1			—		2.2			—		2.3
Investments in subsidiaries	(385.6		)	385.6			—		—			—		—
Acquisitions of business, net of cash acquired	—			(384.4		)	—		(229.3		)	—		(613.7		)
Net cash used for investing activities	(385.6		)	(49.8		)	—		(237.8		)	—		(673.2		)
Cash flows from financing activities:
Issuance of long-term debt	—			—			—		1.7			—		1.7
Proceeds from stock option exercises and other	10.0			—			—		—			—		10.0
Excess tax benefits from share-based payments	19.7			—			—		—			—		19.7
Dividends paid	(17.1		)	—			—		—			—		(17.1		)
Net cash provided by financing activities	12.6			—			—		1.7			—		14.3
Effect of exchange rate changes on cash	—			0.2			—		(5.0		)	—		(4.8		)
Net change in cash and cash equivalents	(180.3		)	—			—		(239.5		)	—		(419.8		)
Cash and cash equivalents at beginning of period	479.9			—			—		276.9			—		756.8
Cash and cash equivalents at end of period	$	299.6		$	—		$	—	$	37.4		$	—	$	337.0

Significant Accounting Policies (Policies)	9 Months Ended
Significant Accounting Policies (Policies)	May 31, 2017
Accounting Policies [Abstract]
Basis of Accounting	The Consolidated Financial Statements have been prepared by the Company in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and present the financial position, results of operations, and cash flows of Acuity Brands and its wholly-owned subsidiaries.
Use of Estimates	Use of Estimates The preparation of financial statements and related disclosures in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expense during the reporting period. Actual results could differ from those estimates.
Reclassifications	Reclassifications Certain prior-period amounts have been reclassified to conform to the current year presentation. No material reclassifications occurred during the current period.
New Accounting Pronouncements	New Accounting Pronouncements Accounting Standards Adopted in Fiscal 2017 In January 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-04, Simplifying the Test for Goodwill Impairment (“ASU 2017-04”). This guidance eliminates the requirement to determine the implied fair value of goodwill to measure an impairment of goodwill. Rather, goodwill impairment charges will be calculated as the amount by which a reporting unit's carrying amount exceeds its fair value. Adoption of the provisions in ASU 2017-04 is required for the Company for its annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company adopted ASU 2017-04 effective beginning in the current period. The provisions of ASU 2017-04 did not have a material effect on the Company's financial condition, results of operations, or cash flows. In July 2015, the FASB issued ASU No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments (“ASU 2015-16”), which simplifies the accounting for measurement-period adjustments to provisional amounts recognized in a business combination. ASU 2015-16 eliminates the requirement to retrospectively account for adjustments made to provisional amounts recorded in connection with a business combination and is effective for fiscal years (and interim reporting periods within those years) beginning after December 15, 2015. The Company adopted ASU 2017-04 this fiscal year and presented all adjustments to provisional amounts recorded in connection within a business combination in fiscal 2017 prospectively. In April 2015, the FASB issued ASU No. 2015-05, Customer's Accounting For Fees Paid In A Cloud Computing Arrangement (“ASU 2015-05”), which provides guidance for a customer's accounting for cloud computing costs. ASU 2015-05 is effective for fiscal years (and interim reporting periods within those years) beginning after December 15, 2015. The provisions of ASU 2015-05 did not have a material effect on the Company's financial condition, results of operations, or cash flows. Accounting Standards Yet to Be Adopted In March 2017, the FASB issued ASU No. 2017-05, Compensation — Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost (“ASU 2017-05”), which will change the presentation of net periodic benefit cost related to employer sponsored defined benefit plans and other postretirement benefits. Service cost will be included within the same income statement line item as other compensation costs arising from services rendered during the period, while other components of net periodic benefit pension cost will be presented separately outside of operating income. Additionally, only service costs may be capitalized in assets. ASU 2017-05 is effective for fiscal years (and interim reporting periods within those years) beginning after December 15, 2017. The provisions of ASU 2017-05 are not expected to have a material effect on the Company's financial condition, results of operations, or cash flows. In January 2017, the FASB issued ASU No. 2017-01, Clarifying the Definition of a Business (“ASU 2017-01”), which requires an evaluation of whether substantially all of the fair value of assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets. If so, the transaction does not qualify as a business. The guidance also requires an acquired business to include at least one substantive process and narrows the definition of outputs. The Company is required to apply this guidance to annual periods beginning after December 15, 2017, including interim periods within those periods. The Company is currently evaluating the impact of the provisions of ASU 2017-01 and intends to implement the standard as required in fiscal 2019. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (“ASU 2016-15”), which is intended to reduce the diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows including debt prepayment and extinguishment costs, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, and proceeds from the settlement of corporate-owned life insurance. ASU 2016-15 is effective for fiscal years (and interim reporting periods within those years) beginning after December 15, 2017. The Company intends to implement the standard as required in fiscal 2019, and the provisions of ASU 2016-15 are not expected to have a material impact on the Company's financial statement disclosures. In March 2016, the FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting, (“ASU 2016-09”), which will change certain aspects of accounting for share-based payments to employees. ASU 2016-09 is effective for fiscal years (and interim reporting periods within those years) beginning after December 15, 2016. The standard requires that all excess tax benefits and deficiencies currently recorded as additional paid-in capital be prospectively recorded in income tax expense. As such, implementation of this standard could create volatility in the Company's effective income tax rate on a quarter by quarter basis. The volatility in the effective income tax rate is due primarily to fluctuations in the Company's stock price and the timing of stock option exercises and vesting of restricted share grants. The standard also requires excess tax benefits to be presented as an operating activity on the statement of cash flows rather than as a financing activity and taxes paid for employee withholdings to be presented as a financing activity. The Company will implement the standard as required in fiscal 2018. Excess tax benefits will be recorded within income tax expense on a prospective basis as required by the standard; however, the Company plans to elect to present changes to the statement of cash flows on a retrospective basis as allowed by the update in order to maintain comparability between fiscal years. In February 2016, the FASB issued ASU No. 2016-02, Leases (“ASU 2016-02”), which requires lessees to include most leases on the balance sheet. ASU 2016-02 is effective for fiscal years (and interim reporting periods within those years) beginning after December 15, 2018. The Company is currently evaluating the impact of the provisions of ASU 2016-02 and intends to implement the standard as required in fiscal 2020. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which will replace most existing revenue recognition guidance in U.S. GAAP. ASU 2014-09 outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. The standard also requires additional disclosures about the nature, timing, and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. ASU 2014-09 permits two transition methods: the full retrospective method and the modified retrospective method. Under the full retrospective method, the standard would be applied to each prior reporting period presented with the cumulative effect of applying the standard recognized at the earliest period shown. Under the modified retrospective method, the cumulative effect of applying the standard would be recognized at the date of initial application. In March 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers: Principal versus Agent Considerations (Reporting Revenue Gross versus Net), which clarifies the guidance in ASU 2014-09 and has the same effective date as the original standard. During the three months ended July 1, 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing; ASU 2016-11, Rescission of SEC Guidance Because of Accounting Standards Updates 2014-09 and 2014-16 Pursuant to Staff Announcements at the March 3, 2016 EITF Meeting; and ASU 2016-12, Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients. These amendments are intended to improve and clarify the implementation guidance of ASU 2014-09 and have the same effective date as the original standard. The Company has an implementation team tasked with identifying potential differences that will result from applying the new revenue recognition standard to the Company's contracts with its customers. The implementation team reports the findings and progress of the project to management on a frequent basis and the Audit Committee of the Board of Directors on a quarterly basis. The implementation team is completing contract reviews and continues to evaluate the results of those reviews with respect to potential changes from adopting the new standard on the Company's consolidated financial statements. Additionally, the implementation team is in the process of identifying appropriate changes to the Company's business processes, systems, and controls to support recognition and disclosure under the new standard. The Company will adopt the requirements of the new standard effective September 1, 2018. All other newly issued accounting pronouncements not yet effective have been deemed either immaterial or not applicable.
Methodologies used to determine fair values of financial assets and liabilities	The Company utilizes valuation methodologies to determine the fair values of its financial assets and liabilities in conformity with the concepts of “exit price” and the fair value hierarchy as prescribed in ASC 820. All valuation methods and assumptions are validated at least quarterly to ensure the accuracy and relevance of the fair values. There were no material changes to the valuation methods or assumptions used to determine fair values during the current period.
Recognition of transfers between levels within the fair value hierarchy	The Company used quoted market prices to determine the fair value of Level 1 assets and liabilities. No transfers between the levels of the fair value hierarchy occurred during the current fiscal period. In the event of a transfer in or out of a level within the fair value hierarchy, the transfers would be recognized on the date of occurrence.

Fair Value Measurements (Tables)

9 Months Ended

May 31, 2017

Fair Value Disclosures [Abstract]

Schedule of Carrying Value and Estimated Fair Value of Financial Instruments

The carrying values and estimated fair values of certain of the Company’s financial instruments were as follows at May 31, 2017 and August 31, 2016 (in millions):



	May 31, 2017				August 31, 2016
	Carrying Value		Fair Value		Carrying Value		Fair Value
Assets:
Investment in noncontrolling affiliate	$	—	$	—	$	8.0	$	14.4
Liabilities:
Senior unsecured public notes, net of unamortized discount and deferred costs	$	349.0	$	382.5	$	348.7	$	388.8
Industrial revenue bond	4.0		4.0		4.0		4.0
Bank loans	3.7		3.7		2.5		2.6

Goodwill and Intangible Assets (Tables)

9 Months Ended

May 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The change in the carrying amount of goodwill during the nine months ended May 31, 2017 is summarized below (in millions):



Balance at August 31, 2016	$	947.8
Adjustments to provisional amounts	(56.5		)
Foreign currency translation adjustments	(3.8		)
Balance at May 31, 2017	$	887.5

Inventories (Tables)

9 Months Ended

May 31, 2017

Inventory Disclosure [Abstract]

Schedule of Inventory



	May 31, 2017			August 31, 2016
Raw materials, supplies, and work in process ⁽¹⁾	$	183.5		$	170.3
Finished goods	184.8			145.3
Inventories excluding reserves	368.3			315.6
Less: reserves	(26.1		)	(20.4		)
Total inventories	$	342.2		$	295.2

_______________________________________


⁽¹⁾	Due to the immaterial amount of estimated work in process and the short lead times for the conversion of raw materials to finished goods, the Company does not believe the segregation of raw materials and work in process to be meaningful information.

Earnings Per Share (Tables)

9 Months Ended

May 31, 2017

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table calculates basic earnings per common share and diluted earnings per common share for the three and nine months ended May 31, 2017 and 2016 (in millions, except per share data):



	Three Months Ended				Nine Months Ended
	May 31, 2017		May 31, 2016		May 31, 2017		May 31, 2016
Net income	$	82.2	$	74.0	$	231.2	$	207.9
Basic weighted average shares outstanding	43.1		43.5		43.5		43.4
Common stock equivalents	0.2		0.3		0.2		0.3
Diluted weighted average shares outstanding	43.3		43.8		43.7		43.7
Basic earnings per share	$	1.91	$	1.70	$	5.31	$	4.78
Diluted earnings per share	$	1.90	$	1.69	$	5.29	$	4.75

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share



	Three Months Ended		Nine Months Ended
	May 31, 2017	May 31, 2016	May 31, 2017	May 31, 2016
Stock options	149,000	47,406	113,074	56,840
Restricted stock awards	176,249	—	87,219	12,529

Comprehensive Income (Tables)

9 Months Ended

May 31, 2017

Equity [Abstract]

Changes in components of accumulated other comprehensive income (loss) items

The following table presents the changes in each component of accumulated other comprehensive income (loss) during the nine months ended May 31, 2017 (in millions):



	Foreign Currency Items			Defined Benefit Pension Plans			Accumulated Other Comprehensive Loss Items
Balance at August 31, 2016	$	(47.7	)	$	(91.7	)	$	(139.4	)
Other comprehensive loss before reclassifications	(6.2		)	—			(6.2		)
Amounts reclassified from accumulated other comprehensive income	—			6.1			6.1
Net current period other comprehensive (loss) income	(6.2		)	6.1			(0.1		)
Balance at May 31, 2017	$	(53.9	)	$	(85.6	)	$	(139.5	)

Schedule of comprehensive income (loss)

The following tables present the tax expense or benefit allocated to each component of other comprehensive income (loss) for the three and nine months ended May 31, 2017 and 2016 (in millions):



	Three Months Ended
	May 31, 2017										May 31, 2016
	Before Tax Amount				Tax (Expense) Benefit			Net of Tax Amount			Before Tax Amount				Tax (Expense) Benefit			Net of Tax Amount
Foreign currency translation adjustments	$	2.4			$	—		$	2.4		$	10.0			$	—		$	10.0
Defined benefit pension plans:
Amortization of defined benefit pension items:
Prior service cost	0.8			⁽¹⁾	(0.2		)	0.6			0.8			⁽¹⁾	(0.3		)	0.5
Actuarial losses	2.2			⁽¹⁾	(0.8		)	1.4			1.2			⁽¹⁾	(0.4		)	0.8
Total defined benefit pension plans, net	3.0				(1.0		)	2.0			2.0				(0.7		)	1.3
Other comprehensive income (loss)	$	5.4			$	(1.0	)	$	4.4		$	12.0			$	(0.7	)	$	11.3

	Nine Months Ended
	May 31, 2017										May 31, 2016
	Before Tax Amount				Tax (Expense) Benefit			Net of Tax Amount			Before Tax Amount				Tax (Expense) Benefit			Net of Tax Amount
Foreign currency translation adjustments	$	(6.2	)		$	—		$	(6.2	)	$	(3.4	)		$	—		$	(3.4	)
Defined benefit pension plans:
Amortization of defined benefit pension items:
Prior service cost	2.4			⁽¹⁾	(0.7		)	1.7			2.3			⁽¹⁾	(0.8		)	1.5
Actuarial losses	6.6			⁽¹⁾	(2.2		)	4.4			3.7			⁽¹⁾	(1.2		)	2.5
Total defined benefit pension plans, net	9.0				(2.9		)	6.1			6.0				(2.0		)	4.0
Other comprehensive income (loss)	$	2.8			$	(2.9	)	$	(0.1	)	$	2.6			$	(2.0	)	$	0.6

_______________________________________


⁽¹⁾	These accumulated other comprehensive income (loss) components are included in net periodic pension cost. See Pension Plans footnote within the Notes to Consolidated Financial Statements for additional details.

Debt (Tables)

9 Months Ended

May 31, 2017

Debt Disclosure [Abstract]

Components of Interest Expense, Net

The following table summarizes the components of interest expense, net for the three and nine months ended May 31, 2017 and 2016 (in millions):



	Three Months Ended						Nine Months Ended
	May 31, 2017			May 31, 2016			May 31, 2017			May 31, 2016
Interest expense	$	8.5		$	8.3		$	25.6		$	24.9
Interest income	(0.4		)	(0.2		)	(1.3		)	(0.7		)
Interest expense, net	$	8.1		$	8.1		$	24.3		$	24.2

Commitments and Contingencies (Tables)

9 Months Ended

May 31, 2017

Commitments and Contingencies Disclosure [Abstract]

Schedule of Product Warranty Liability

The changes in the reserves for product warranty and recall costs during the nine months ended May 31, 2017 and 2016 are summarized as follows (in millions):



	Nine Months Ended
	May 31, 2017			May 31, 2016
Beginning balance	$	15.5		$	9.6
Warranty and recall costs	25.9			18.8
Payments and other deductions	(22.4		)	(14.5		)
Acquired warranty and recall liabilities	—			0.3
Ending balance	$	19.0		$	14.2

Share-based Payments (Tables)

9 Months Ended

May 31, 2017

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

Schedule of Share-based Payment Expense and Shares Issued Upon Exercise of Options

The following table presents share-based payment expense and new shares issued upon exercise of stock options for the three and nine months ended May 31, 2017 and 2016 (in millions, except shares):



	Three Months Ended				Nine Months Ended
	May 31, 2017		May 31, 2016		May 31, 2017		May 31, 2016
Share-based payment expense	$	8.1	$	6.9	$	24.1	$	19.9
Shares issued from option exercises	2,524		68,159		14,554		185,448

Pension Plans (Tables)

9 Months Ended

May 31, 2017

Compensation and Retirement Disclosure [Abstract]

Schedule of Net Periodic Pension Cost

Net periodic pension cost for the Company’s defined benefit pension plans during the three and nine months ended May 31, 2017 and 2016 included the following components before tax (in millions):



	Three Months Ended						Nine Months Ended
	May 31, 2017			May 31, 2016			May 31, 2017			May 31, 2016
Service cost	$	0.9		$	0.9		$	2.7		$	2.7
Interest cost	2.0			2.4			6.0			7.2
Expected return on plan assets	(2.8		)	(2.8		)	(8.4		)	(8.4		)
Amortization of prior service cost	0.8			0.8			2.4			2.3
Recognized actuarial loss	2.2			1.2			6.6			3.7
Net periodic pension cost	$	3.1		$	2.5		$	9.3		$	7.5

Special Charge (Tables)

9 Months Ended

May 31, 2017

Restructuring and Related Activities [Abstract]

Summary Schedule of Special Charge

The details of the special charge during the three and nine months ended May 31, 2017 and 2016 are summarized as follows (in millions):



	Three Months Ended				Nine Months Ended
	May 31, 2017		May 31, 2016		May 31, 2017		May 31, 2016
Severance and employee-related costs	$	0.3	$	9.7	$	0.1	$	10.2
Lease termination costs	—		—		1.1		—
Production transfer and other costs	0.2		—		0.5		—
Special charge	$	0.5	$	9.7	$	1.7	$	10.2

Schedule of Restructuring Reserve by Type of Cost

The changes in the reserves related to these programs during the nine months ended May 31, 2017 are summarized as follows (in millions):



	Severance and Employee-Related Costs			Lease Termination Costs			Total Restructuring Reserves
Balance at August 31, 2016	$	6.4		$	0.2		$	6.6
Costs incurred	0.1			1.1			1.2
Payments made during the period	(4.4		)	(0.7		)	(5.1		)
Balance at May 31, 2017	$	2.1		$	0.6		$	2.7

Supplemental Guarantor Condensed Consolidating Financial Statements (Tables)

9 Months Ended

May 31, 2017

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

CONDENSED CONSOLIDATING BALANCE SHEETS

(In millions)



	May 31, 2017
	Parent		Subsidiary Issuer		Subsidiary Guarantor		Non- Guarantors		Consolidating Adjustments			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	140.3	$	—	$	—	$	49.4	$	—		$	189.7
Accounts receivable, net	—		451.1		—		70.0		—			521.1
Inventories	—		319.4		—		22.8		—			342.2
Other current assets	6.2		16.3		—		18.6		—			41.1
Total current assets	146.5		786.8		—		160.8		—			1,094.1
Property, plant, and equipment, net	0.2		228.7		—		55.5		—			284.4
Goodwill	—		676.2		2.7		208.6		—			887.5
Intangible assets, net	—		238.5		110.7		99.1		—			448.3
Deferred income taxes	18.6		—		—		6.6		(20.6		)	4.6
Other long-term assets	0.1		10.6		—		0.9		—			11.6
Investments in and amounts due from affiliates	1,483.4		297.0		224.8		—		(2,005.2		)	—
Total assets	$	1,648.8	$	2,237.8	$	338.2	$	531.5	$	(2,025.8	)	$	2,730.5

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	0.7	$	337.0	$	—	$	22.1	$	—		$	359.8
Current maturities of long-term debt	—		—		—		0.4		—			0.4
Other accrued liabilities	16.6		134.4		—		33.1		—			184.1
Total current liabilities	17.3		471.4		—		55.6		—			544.3
Long-term debt	—		353.0		—		3.3		—			356.3
Deferred income taxes	—		95.8		—		31.6		(20.6		)	106.8
Other long-term liabilities	96.3		65.0		—		26.6		—			187.9
Amounts due to affiliates	—		—		—		112.2		(112.2		)	—
Total stockholders’ equity	1,535.2		1,252.6		338.2		302.2		(1,893.0		)	1,535.2
Total liabilities and stockholders’ equity	$	1,648.8	$	2,237.8	$	338.2	$	531.5	$	(2,025.8	)	$	2,730.5

CONDENSED CONSOLIDATING BALANCE SHEETS

(In millions)



	August 31, 2016
	Parent		Subsidiary Issuer		Subsidiary Guarantor		Non- Guarantors		Consolidating Adjustments			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	368.2	$	—	$	—	$	45.0	$	—		$	413.2
Accounts receivable, net	—		503.0		—		69.8		—			572.8
Inventories	—		274.7		—		20.5		—			295.2
Other current assets	2.5		14.3		—		24.9		—			41.7
Total current assets	370.7		792.0		—		160.2		—			1,322.9
Property, plant, and equipment, net	0.3		217.8		—		49.7		—			267.8
Goodwill	—		735.8		2.7		209.3		—			947.8
Intangible assets, net	—		168.1		113.4		99.9		—			381.4
Deferred income taxes	47.5		—		—		6.5		(48.9		)	5.1
Other long-term assets	1.4		20.4		—		1.2		—			23.0
Investments in and amounts due from affiliates	1,347.6		299.6		200.5		—		(1,847.7		)	—
Total assets	$	1,767.5	$	2,233.7	$	316.6	$	526.8	$	(1,896.6	)	$	2,948.0

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	1.2	$	371.3	$	—	$	28.5	$	—		$	401.0
Current maturities of long-term debt	—		—		—		0.2		—			0.2
Other accrued liabilities	14.5		215.4		—		41.4		—			271.3
Total current liabilities	15.7		586.7		—		70.1		—			672.5
Long-term debt	—		352.8		—		2.2		—			355.0
Deferred income taxes	—		95.5		—		28.0		(48.9		)	74.6
Other long-term liabilities	92.0		64.8		—		29.3		—			186.1
Amounts due to affiliates	—		—		—		96.9		(96.9		)	—
Total stockholders’ equity	1,659.8		1,133.9		316.6		300.3		(1,750.8		)	1,659.8
Total liabilities and stockholders’ equity	$	1,767.5	$	2,233.7	$	316.6	$	526.8	$	(1,896.6	)	$	2,948.0

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME

(In millions)



	Three Months Ended May 31, 2017
	Parent			Subsidiary Issuer			Subsidiary Guarantor		Non- Guarantors			Consolidating Adjustments			Consolidated
Net sales:
External sales	$	—		$	795.0		$	—	$	96.6		$	—		$	891.6
Intercompany sales	—			—			12.8		39.7			(52.5		)	—
Total sales	—			795.0			12.8		136.3			(52.5		)	891.6
Cost of products sold	—			446.6			—		104.3			(38.2		)	512.7
Gross profit	—			348.4			12.8		32.0			(14.3		)	378.9
Selling, distribution, and administrative expenses	11.4			213.4			0.9		35.5			(14.3		)	246.9
Intercompany charges	(1.3		)	0.1			—		1.2			—			—
Special charge	—			0.5			—		—			—			0.5
Operating (loss) profit	(10.1		)	134.4			11.9		(4.7		)	—			131.5
Interest expense, net	2.7			4.1			—		1.3			—			8.1
Equity earnings in subsidiaries	(90.5		)	2.7			—		—			87.8			—
Miscellaneous (income) expense, net	—			(2.0		)	—		0.8			—			(1.2		)
Income (loss) before provision for income taxes	77.7			129.6			11.9		(6.8		)	(87.8		)	124.6
(Benefit) provision for income taxes	(4.5		)	44.2			4.2		(1.5		)	—			42.4
Net income (loss)	82.2			85.4			7.7		(5.3		)	(87.8		)	82.2

Other comprehensive income (loss) items:
Foreign currency translation adjustments	2.4			2.4			—		—			(2.4		)	2.4
Defined benefit pension plans, net	2.0			0.7			—		0.7			(1.4		)	2.0
Other comprehensive income (loss) items, net of tax	4.4			3.1			—		0.7			(3.8		)	4.4
Comprehensive income (loss)	$	86.6		$	88.5		$	7.7	$	(4.6	)	$	(91.6	)	$	86.6

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME

(In millions)



	Three Months Ended May 31, 2016
	Parent			Subsidiary Issuer		Subsidiary Guarantor		Non- Guarantors			Consolidating Adjustments			Consolidated
Net sales:
External sales	$	—		$	753.8	$	—	$	97.7		$	—		$	851.5
Intercompany sales	—			—		12.2		29.9			(42.1		)	—
Total sales	—			753.8		12.2		127.6			(42.1		)	851.5
Cost of products sold	—			405.1		—		97.1			(28.6		)	473.6
Gross profit	—			348.7		12.2		30.5			(13.5		)	377.9
Selling, distribution, and administrative expenses	12.2			218.5		0.9		29.2			(13.6		)	247.2
Intercompany charges	(0.8		)	0.3		—		0.4			0.1			—
Special charge	—			9.7		—		—			—			9.7
Operating (loss) profit	(11.4		)	120.2		11.3		0.9			—			121.0
Interest expense, net	2.6			4.0		—		1.5			—			8.1
Equity earnings in subsidiaries	(83.0		)	0.3		—		—			82.7			—
Miscellaneous expense, net	—			0.1		—		0.2			—			0.3
Income (loss) before provision for income taxes	69.0			115.8		11.3		(0.8		)	(82.7		)	112.6
(Benefit) provision for income taxes	(5.0		)	38.3		4.6		0.7			—			38.6
Net income (loss)	74.0			77.5		6.7		(1.5		)	(82.7		)	74.0

Other comprehensive income (loss) items:
Foreign currency translation adjustments	10.0			10.0		—		—			(10.0		)	10.0
Defined benefit pension plans, net	1.3			0.4		—		0.4			(0.8		)	1.3
Other comprehensive income (loss) items, net of tax	11.3			10.4		—		0.4			(10.8		)	11.3
Comprehensive income (loss)	$	85.3		$	87.9	$	6.7	$	(1.1	)	$	(93.5	)	$	85.3

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

(In millions)



	Nine Months Ended May 31, 2017
	Parent			Subsidiary Issuer			Subsidiary Guarantor		Non- Guarantors			Consolidating Adjustments		Consolidated
Net cash provided by operating activities	$	139.0		$	31.7		$	—	$	8.6		$	—	$	179.3
Cash flows from investing activities:
Purchases of property, plant, and equipment	—			(44.3		)	—		(10.9		)	—		(55.2		)
Proceeds from sale of property, plant, and equipment	—			0.1			—		5.4			—		5.5
Proceeds from the sale of investment	—			13.2			—		—			—		13.2
Other investing activities	—			(0.2		)	—		—			—		(0.2		)
Net cash used for investing activities	—			(31.2		)	—		(5.5		)	—		(36.7		)
Cash flows from financing activities:
Issuance of long-term debt	—			—			—		1.1			—		1.1
Proceeds from stock option exercises and other	2.7			—			—		—			—		2.7
Repurchases of common stock	(357.9		)	—			—		—			—		(357.9		)
Excess tax benefits from share-based payments	5.5			—			—		—			—		5.5
Dividends paid	(17.2		)	—			—		—			—		(17.2		)
Net cash (used for) provided by financing activities	(366.9		)	—			—		1.1			—		(365.8		)
Effect of exchange rates changes on cash	—			(0.5		)	—		0.2			—		(0.3		)
Net change in cash and cash equivalents	(227.9		)	—			—		4.4			—		(223.5		)
Cash and cash equivalents at beginning of period	368.2			—			—		45.0			—		413.2
Cash and cash equivalents at end of period	$	140.3		$	—		$	—	$	49.4		$	—	$	189.7

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

(In millions)



	Nine Months Ended May 31, 2016
	Parent			Subsidiary Issuer			Subsidiary Guarantor		Non- Guarantors			Consolidating Adjustments		Consolidated
Net cash provided by operating activities	$	192.7		$	49.6		$	—	$	1.6		$	—	$	243.9
Cash flows from investing activities:
Purchases of property, plant, and equipment	—			(51.1		)	—		(10.7		)	—		(61.8		)
Proceeds from sale of property, plant, and equipment	—			0.1			—		2.2			—		2.3
Investments in subsidiaries	(385.6		)	385.6			—		—			—		—
Acquisitions of business, net of cash acquired	—			(384.4		)	—		(229.3		)	—		(613.7		)
Net cash used for investing activities	(385.6		)	(49.8		)	—		(237.8		)	—		(673.2		)
Cash flows from financing activities:
Issuance of long-term debt	—			—			—		1.7			—		1.7
Proceeds from stock option exercises and other	10.0			—			—		—			—		10.0
Excess tax benefits from share-based payments	19.7			—			—		—			—		19.7
Dividends paid	(17.1		)	—			—		—			—		(17.1		)
Net cash provided by financing activities	12.6			—			—		1.7			—		14.3
Effect of exchange rate changes on cash	—			0.2			—		(5.0		)	—		(4.8		)
Net change in cash and cash equivalents	(180.3		)	—			—		(239.5		)	—		(419.8		)
Cash and cash equivalents at beginning of period	479.9			—			—		276.9			—		756.8
Cash and cash equivalents at end of period	$	299.6		$	—		$	—	$	37.4		$	—	$	337.0

Description of Business and Basis of Presentation (Details)	9 Months Ended
	May 31, 2017 Segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	1

Acquisitions and Investments (Details) $ in Millions, $ in Millions				3 Months Ended	9 Months Ended
	Dec. 10, 2015 USD ($)	Sep. 01, 2015 USD ($)	Sep. 01, 2015 CAD ($)	Feb. 28, 2017 USD ($)	May 31, 2017 USD ($)
Business Acquisition [Line Items]
Decrease to goodwill					$ (56.5)
Juno Lighting LLC
Business Acquisition [Line Items]
Cash purchase price of business to be acquired	$ 380.0
Annual revenues of acquired entity	$ 250.0
Increase to intangible assets, net				$ 81.1
Decrease to goodwill				50.5
Increase to deferred tax liabilities				29.6
Decrease to net operating working capital				$ 1.0
Distech Controls, Inc. (Distech)
Business Acquisition [Line Items]
Cash purchase price of business to be acquired		$ 240.0
Annual revenues of acquired entity			$ 60

Fair Value Measurements (Details) - USD ($) $ in Millions	9 Months Ended
Fair Value Measurements (Details) - USD ($) $ in Millions	May 31, 2017	May 31, 2016	Aug. 31, 2016	Aug. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 189.7	$ 337.0	$ 413.2	$ 756.8
Liabilities:
Gain on sale of investment in unconsolidated affiliate	7.2	$ 0.0
Carrying Value
Assets:
Investment in noncontrolling affiliate	0.0		8.0
Carrying Value \| Senior unsecured public notes, net of unamortized discount and deferred costs
Liabilities:
Carrying and estimated fair values of financial instruments	349.0		348.7
Carrying Value \| Nontaxable Revenue Bond \| Industrial Revenue Bond Maturing in 2021
Liabilities:
Carrying and estimated fair values of financial instruments	4.0		4.0
Carrying Value \| Fixed Rate Bank Loans
Liabilities:
Carrying and estimated fair values of financial instruments	3.7		2.5
Fair Value \| Level 3
Assets:
Investment in noncontrolling affiliate	0.0		14.4
Fair Value \| Level 2 \| Senior unsecured public notes, net of unamortized discount and deferred costs
Liabilities:
Carrying and estimated fair values of financial instruments	382.5		388.8
Fair Value \| Level 2 \| Nontaxable Revenue Bond \| Industrial Revenue Bond Maturing in 2021
Liabilities:
Carrying and estimated fair values of financial instruments	4.0		4.0
Fair Value \| Level 2 \| Fixed Rate Bank Loans
Liabilities:
Carrying and estimated fair values of financial instruments	$ 3.7		$ 2.6

Goodwill and Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	May 31, 2017	May 31, 2016	May 31, 2017	May 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 8.2	$ 7.5	$ 21.9	$ 18.5
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Amortization expense in fiscal 2017	28.3		28.3
Amortization expense in fiscal 2018	28.4		28.4
Amortization expense in fiscal 2019	28.4		28.4
Amortization expense in fiscal 2020	28.0		28.0
Amortization expense in fiscal 2021	$ 27.7		$ 27.7

Goodwill and Intangible Assets (Changes in Goodwill) (Details) $ in Millions	9 Months Ended
	May 31, 2017 USD ($)
Goodwill [Roll Forward]
Goodwill, Beginning Balance	$ 947.8
Adjustments to provisional amounts	(56.5)
Foreign currency translation adjustments	(3.8)
Goodwill, Ending Balance	$ 887.5

Inventories (Details) - USD ($) $ in Millions	May 31, 2017	Aug. 31, 2016
Inventory, Net [Abstract]
Raw materials, supplies, and work in process	$ 183.5	$ 170.3
Finished goods	184.8	145.3
Inventories excluding reserves	368.3	315.6
Less: reserves	(26.1)	(20.4)
Total inventories	$ 342.2	$ 295.2

Earnings Per Share (Basic and Diluted Earnings per Share - Treasury Stock Method) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	May 31, 2017	May 31, 2016	May 31, 2017	May 31, 2016
Earnings Per Share [Abstract]
Net Income	$ 82.2	$ 74.0	$ 231.2	$ 207.9
Basic weighted average shares outstanding (in shares)	43.1	43.5	43.5	43.4
Common stock equivalents (in shares)	0.2	0.3	0.2	0.3
Diluted weighted average shares outstanding (in shares)	43.3	43.8	43.7	43.7
Basic earnings per share (in dollars per share)	$ 1.91	$ 1.70	$ 5.31	$ 4.78
Diluted earnings per share (in dollars per share)	$ 1.90	$ 1.69	$ 5.29	$ 4.75

- Definition

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

+ References + Details

- Definition

The amount of net income (loss) derived from continuing operations during 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

Earnings Per Share (Antidilutive Securities Excluded from EPS Computation) (Details) - shares	3 Months Ended		9 Months Ended
	May 31, 2017	May 31, 2016	May 31, 2017	May 31, 2016
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options excluded from diluted earnings per share (in shares)	149,000	47,406	113,074	56,840
Restricted stock awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options excluded from diluted earnings per share (in shares)	176,249	0	87,219	12,529

Comprehensive Income (Changes in Components of Accumulated Other Comprehensive Income (Loss) Items) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	May 31, 2017	May 31, 2016	May 31, 2017	May 31, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at August 31, 2016			$ 1,659.8
Balance at May 31, 2017	$ 1,535.2		1,535.2
Accumulated Other Comprehensive Loss Items
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at August 31, 2016			(139.4)
Other comprehensive loss before reclassifications			(6.2)
Amounts reclassified from accumulated other comprehensive income			6.1
Other comprehensive income (loss), net of tax	4.4	$ 11.3	(0.1)	$ 0.6
Balance at May 31, 2017	(139.5)		(139.5)
Foreign Currency Items
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at August 31, 2016			(47.7)
Other comprehensive loss before reclassifications			(6.2)
Amounts reclassified from accumulated other comprehensive income			0.0
Other comprehensive income (loss), net of tax	2.4	10.0	(6.2)	(3.4)
Balance at May 31, 2017	(53.9)		(53.9)
Defined Benefit Pension Plans
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at August 31, 2016			(91.7)
Other comprehensive loss before reclassifications			0.0
Amounts reclassified from accumulated other comprehensive income			6.1
Other comprehensive income (loss), net of tax	2.0	$ 1.3	6.1	$ 4.0
Balance at May 31, 2017	$ (85.6)		$ (85.6)

Comprehensive Income (Tax Amounts Allocated to Components of Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	May 31, 2017	May 31, 2016	May 31, 2017	May 31, 2016
Other comprehensive income (loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss), before tax	$ 5.4	$ 12.0	$ 2.8	$ 2.6
Other comprehensive income (loss), tax	(1.0)	(0.7)	(2.9)	(2.0)
Other comprehensive income (loss), net of tax	4.4	11.3	(0.1)	0.6
Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss), before tax	2.4	10.0	(6.2)	(3.4)
Other comprehensive income (loss), tax	0.0	0.0	0.0	0.0
Other comprehensive income (loss), net of tax	2.4	10.0	(6.2)	(3.4)
Total defined benefit pension plans, net
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss), before tax	3.0	2.0	9.0	6.0
Other comprehensive income (loss), tax	(1.0)	(0.7)	(2.9)	(2.0)
Other comprehensive income (loss), net of tax	2.0	1.3	6.1	4.0
Prior service cost
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss), before tax	0.8	0.8	2.4	2.3
Other comprehensive income (loss), tax	(0.2)	(0.3)	(0.7)	(0.8)
Other comprehensive income (loss), net of tax	0.6	0.5	1.7	1.5
Actuarial losses
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss), before tax	2.2	1.2	6.6	3.7
Other comprehensive income (loss), tax	(0.8)	(0.4)	(2.2)	(1.2)
Other comprehensive income (loss), net of tax	$ 1.4	$ 0.8	$ 4.4	$ 2.5

Debt (Details)	3 Months Ended		9 Months Ended
Debt (Details)	May 31, 2017 USD ($)	May 31, 2016 USD ($)	May 31, 2017 USD ($)	May 31, 2016 USD ($)	Aug. 27, 2014 USD ($)
Interest Revenue (Expense), Net [Abstract]
Interest expense	$ 8,500,000	$ 8,300,000	$ 25,600,000	$ 24,900,000
Interest income	(400,000)	(200,000)	(1,300,000)	(700,000)
Interest expense, net	8,100,000	$ 8,100,000	24,300,000	$ 24,200,000
Lines of Credit
Line of Credit Facility [Abstract]
Outstanding letters of credit	10,200,000		10,200,000
Lines of Credit \| Revolving Credit Facility Maturing August 27, 2019
Line of Credit Facility [Abstract]
Executed revolving credit facility					$ 250,000,000
Borrowings outstanding	0		0
Additional borrowing capacity under revolving credit facility	$ 244,700,000		$ 244,700,000
Lines of Credit \| Revolving Credit Facility Maturing August 27, 2019 \| Minimum
Line of Credit Facility [Abstract]
Minimum interest coverage ratio	2.50		2.50
Applicable margins based on company's leverage ratio, percentage			1.00%
Facility fee, percentage			0.125%
Lines of Credit \| Revolving Credit Facility Maturing August 27, 2019 \| Maximum
Line of Credit Facility [Abstract]
Maximum leverage ratio	3.50		3.50
Applicable margins based on company's leverage ratio, percentage			1.575%
Facility fee, percentage			0.30%
Letter of Credit \| Revolving Credit Facility Maturing August 27, 2019
Line of Credit Facility [Abstract]
Outstanding letters of credit	$ 5,300,000		$ 5,300,000
Senior unsecured public notes \| Senior Unsecured Notes Maturing December 2019
Debt Instruments [Abstract]
Debt outstanding	$ 350,000,000		$ 350,000,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%		6.00%
Fixed Rate Bank Loans \| 2016 Fixed-rate Bank Loans
Debt Instruments [Abstract]
Debt outstanding	$ 3,700,000		$ 3,700,000

Commitments and Contingencies (Details) - USD ($) $ in Millions	9 Months Ended
	May 31, 2017	May 31, 2016	Sep. 01, 2015
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Beginning balance	$ 15.5	$ 9.6
Warranty and recall costs	25.9	18.8
Payments and other deductions	(22.4)	(14.5)
Acquired warranty and recall liabilities	0.0	0.3
Ending balance	$ 19.0	$ 14.2
Trade Compliance Matter \| Distech Controls, Inc. (Distech)
Loss Contingencies [Line Items]
Estimate of revenue received from potential violations of US and Canadian sanctions			$ 0.3

Share-based Payments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Share-based Payments (Details) - USD ($) $ in Millions	May 31, 2017	May 31, 2016	May 31, 2017	May 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based payment expense	$ 8.1	$ 6.9	$ 24.1	$ 19.9
Shares issued from option exercises (shares)	2,524	68,159	14,554	185,448

Pension Plans (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Pension Plans (Details) - USD ($) $ in Millions	May 31, 2017	May 31, 2016	May 31, 2017	May 31, 2016
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost	$ 0.9	$ 0.9	$ 2.7	$ 2.7
Interest cost	2.0	2.4	6.0	7.2
Expected return on plan assets	(2.8)	(2.8)	(8.4)	(8.4)
Amortization of prior service cost	0.8	0.8	2.4	2.3
Recognized actuarial loss	2.2	1.2	6.6	3.7
Net periodic pension cost	$ 3.1	$ 2.5	$ 9.3	$ 7.5

Special Charge (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Special Charge (Details) - USD ($) $ in Millions	May 31, 2017	May 31, 2016	May 31, 2017	May 31, 2016
Restructuring Cost and Reserve [Line Items]
Special charge	$ 0.5	$ 9.7	$ 1.7	$ 10.2
Restructuring Reserve [Roll Forward]
Balance, beginning of period			6.6
Costs incurred			1.2
Payments made during the period			(5.1)
Balance, end of period	2.7		2.7
Severance and employee-related costs
Restructuring Reserve [Roll Forward]
Balance, beginning of period			6.4
Costs incurred			0.1
Payments made during the period			(4.4)
Balance, end of period	2.1		2.1
Lease termination costs
Restructuring Reserve [Roll Forward]
Balance, beginning of period			0.2
Costs incurred			1.1
Payments made during the period			(0.7)
Balance, end of period	0.6		0.6
Restructuring Charges
Restructuring Cost and Reserve [Line Items]
Special charge	0.5	9.7	1.7	10.2
Restructuring Charges \| Severance and employee-related costs
Restructuring Cost and Reserve [Line Items]
Special charge	0.3	9.7	0.1	10.2
Restructuring Charges \| Lease termination costs
Restructuring Cost and Reserve [Line Items]
Special charge	0.0	0.0	1.1	0.0
Restructuring Charges \| Production transfer and other costs
Restructuring Cost and Reserve [Line Items]
Special charge	$ 0.2	$ 0.0	$ 0.5	$ 0.0

Supplemental Guarantor Condensed Consolidating Financial Statements (Narrative) (Details)	9 Months Ended
	May 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Owenership interest held by the Company in ABL	100.00%

Supplemental Guarantor Condensed Consolidating Financial Statements (Balance Sheets) (Details) - USD ($) $ in Millions	May 31, 2017	Aug. 31, 2016	May 31, 2016	Aug. 31, 2015
Current Assets:
Cash and cash equivalents	$ 189.7	$ 413.2	$ 337.0	$ 756.8
Accounts receivable, net	521.1	572.8
Inventories	342.2	295.2
Other current assets	41.1	41.7
Total current assets	1,094.1	1,322.9
Property, plant, and equipment, net	284.4	267.8
Goodwill	887.5	947.8
Intangible assets, net	448.3	381.4
Deferred income taxes	4.6	5.1
Other long-term assets	11.6	23.0
Investments in and amounts due from affiliates	0.0	0.0
Total assets	2,730.5	2,948.0
Current Liabilities:
Accounts payable	359.8	401.0
Current maturities of long-term debt	0.4	0.2
Other accrued liabilities	184.1	271.3
Total current liabilities	544.3	672.5
Long-term debt	356.3	355.0
Deferred income taxes	106.8	74.6
Other long-term liabilities	187.9	186.1
Amounts due to affiliates	0.0	0.0
Total stockholders’ equity	1,535.2	1,659.8
Total liabilities and stockholders’ equity	2,730.5	2,948.0
Consolidating Adjustments
Current Assets:
Cash and cash equivalents	0.0	0.0	0.0	0.0
Accounts receivable, net	0.0	0.0
Inventories	0.0	0.0
Other current assets	0.0	0.0
Total current assets	0.0	0.0
Property, plant, and equipment, net	0.0	0.0
Goodwill	0.0	0.0
Intangible assets, net	0.0	0.0
Deferred income taxes	(20.6)	(48.9)
Other long-term assets	0.0	0.0
Investments in and amounts due from affiliates	(2,005.2)	(1,847.7)
Total assets	(2,025.8)	(1,896.6)
Current Liabilities:
Accounts payable	0.0	0.0
Current maturities of long-term debt	0.0	0.0
Other accrued liabilities	0.0	0.0
Total current liabilities	0.0	0.0
Long-term debt	0.0	0.0
Deferred income taxes	(20.6)	(48.9)
Other long-term liabilities	0.0	0.0
Amounts due to affiliates	(112.2)	(96.9)
Total stockholders’ equity	(1,893.0)	(1,750.8)
Total liabilities and stockholders’ equity	(2,025.8)	(1,896.6)
Parent
Current Assets:
Cash and cash equivalents	140.3	368.2	299.6	479.9
Accounts receivable, net	0.0	0.0
Inventories	0.0	0.0
Other current assets	6.2	2.5
Total current assets	146.5	370.7
Property, plant, and equipment, net	0.2	0.3
Goodwill	0.0	0.0
Intangible assets, net	0.0	0.0
Deferred income taxes	18.6	47.5
Other long-term assets	0.1	1.4
Investments in and amounts due from affiliates	1,483.4	1,347.6
Total assets	1,648.8	1,767.5
Current Liabilities:
Accounts payable	0.7	1.2
Current maturities of long-term debt	0.0	0.0
Other accrued liabilities	16.6	14.5
Total current liabilities	17.3	15.7
Long-term debt	0.0	0.0
Deferred income taxes	0.0	0.0
Other long-term liabilities	96.3	92.0
Amounts due to affiliates	0.0	0.0
Total stockholders’ equity	1,535.2	1,659.8
Total liabilities and stockholders’ equity	1,648.8	1,767.5
Subsidiary Issuer
Current Assets:
Cash and cash equivalents	0.0	0.0	0.0	0.0
Accounts receivable, net	451.1	503.0
Inventories	319.4	274.7
Other current assets	16.3	14.3
Total current assets	786.8	792.0
Property, plant, and equipment, net	228.7	217.8
Goodwill	676.2	735.8
Intangible assets, net	238.5	168.1
Deferred income taxes	0.0	0.0
Other long-term assets	10.6	20.4
Investments in and amounts due from affiliates	297.0	299.6
Total assets	2,237.8	2,233.7
Current Liabilities:
Accounts payable	337.0	371.3
Current maturities of long-term debt	0.0	0.0
Other accrued liabilities	134.4	215.4
Total current liabilities	471.4	586.7
Long-term debt	353.0	352.8
Deferred income taxes	95.8	95.5
Other long-term liabilities	65.0	64.8
Amounts due to affiliates	0.0	0.0
Total stockholders’ equity	1,252.6	1,133.9
Total liabilities and stockholders’ equity	2,237.8	2,233.7
Subsidiary Guarantor
Current Assets:
Cash and cash equivalents	0.0	0.0	0.0	0.0
Accounts receivable, net	0.0	0.0
Inventories	0.0	0.0
Other current assets	0.0	0.0
Total current assets	0.0	0.0
Property, plant, and equipment, net	0.0	0.0
Goodwill	2.7	2.7
Intangible assets, net	110.7	113.4
Deferred income taxes	0.0	0.0
Other long-term assets	0.0	0.0
Investments in and amounts due from affiliates	224.8	200.5
Total assets	338.2	316.6
Current Liabilities:
Accounts payable	0.0	0.0
Current maturities of long-term debt	0.0	0.0
Other accrued liabilities	0.0	0.0
Total current liabilities	0.0	0.0
Long-term debt	0.0	0.0
Deferred income taxes	0.0	0.0
Other long-term liabilities	0.0	0.0
Amounts due to affiliates	0.0	0.0
Total stockholders’ equity	338.2	316.6
Total liabilities and stockholders’ equity	338.2	316.6
Non- Guarantors
Current Assets:
Cash and cash equivalents	49.4	45.0	$ 37.4	$ 276.9
Accounts receivable, net	70.0	69.8
Inventories	22.8	20.5
Other current assets	18.6	24.9
Total current assets	160.8	160.2
Property, plant, and equipment, net	55.5	49.7
Goodwill	208.6	209.3
Intangible assets, net	99.1	99.9
Deferred income taxes	6.6	6.5
Other long-term assets	0.9	1.2
Investments in and amounts due from affiliates	0.0	0.0
Total assets	531.5	526.8
Current Liabilities:
Accounts payable	22.1	28.5
Current maturities of long-term debt	0.4	0.2
Other accrued liabilities	33.1	41.4
Total current liabilities	55.6	70.1
Long-term debt	3.3	2.2
Deferred income taxes	31.6	28.0
Other long-term liabilities	26.6	29.3
Amounts due to affiliates	112.2	96.9
Total stockholders’ equity	302.2	300.3
Total liabilities and stockholders’ equity	$ 531.5	$ 526.8

Supplemental Guarantor Condensed Consolidating Financial Statements (Income) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	May 31, 2017	May 31, 2016	May 31, 2017	May 31, 2016
Net Sales:
External sales	$ 891.6	$ 851.5	$ 2,547.5	$ 2,365.9
Intercompany sales	0.0	0.0	0.0	0.0
Total sales	891.6	851.5	2,547.5	2,365.9
Cost of products sold	512.7	473.6	1,473.2	1,331.7
Gross profit	378.9	377.9	1,074.3	1,034.2
Selling, distribution, and administrative expenses	246.9	247.2	706.5	683.9
Intercompany charges	0.0	0.0	0.0	0.0
Special charge	0.5	9.7	1.7	10.2
Operating profit	131.5	121.0	366.1	340.1
Interest expense, net	8.1	8.1	24.3	24.2
Equity earnings in subsidiaries	0.0	0.0	0.0	0.0
Miscellaneous (income) expense, net	(1.2)	0.3	(8.5)	(1.5)
Income before provision for income taxes	124.6	112.6	350.3	317.4
(Benefit) provision for income taxes	42.4	38.6	119.1	109.5
Net income	82.2	74.0	231.2	207.9
Other comprehensive income (loss) items:
Foreign currency translation adjustments	2.4	10.0	(6.2)	(3.4)
Defined benefit pension plans, net of tax	2.0	1.3	6.1	4.0
Other comprehensive income (loss), net of tax	4.4	11.3	(0.1)	0.6
Comprehensive income	86.6	85.3	231.1	208.5
Consolidating Adjustments
Net Sales:
External sales	0.0	0.0	0.0	0.0
Intercompany sales	(52.5)	(42.1)	(164.3)	(125.8)
Total sales	(52.5)	(42.1)	(164.3)	(125.8)
Cost of products sold	(38.2)	(28.6)	(124.0)	(88.0)
Gross profit	(14.3)	(13.5)	(40.3)	(37.8)
Selling, distribution, and administrative expenses	(14.3)	(13.6)	(40.2)	(37.9)
Intercompany charges	0.0	0.1	0.0	0.1
Special charge	0.0	0.0	0.0	0.0
Operating profit	0.0	0.0	(0.1)	0.0
Interest expense, net	0.0	0.0	0.0	0.0
Equity earnings in subsidiaries	87.8	82.7	263.7	239.0
Miscellaneous (income) expense, net	0.0	0.0	0.0	0.0
Income before provision for income taxes	(87.8)	(82.7)	(263.8)	(239.0)
(Benefit) provision for income taxes	0.0	0.0	0.0	0.0
Net income	(87.8)	(82.7)	(263.8)	(239.0)
Other comprehensive income (loss) items:
Foreign currency translation adjustments	(2.4)	(10.0)	6.2	3.4
Defined benefit pension plans, net of tax	(1.4)	(0.8)	(4.2)	(2.2)
Other comprehensive income (loss), net of tax	(3.8)	(10.8)	2.0	1.2
Comprehensive income	(91.6)	(93.5)	(261.8)	(237.8)
Parent
Net Sales:
External sales	0.0	0.0	0.0	0.0
Intercompany sales	0.0	0.0	0.0	0.0
Total sales	0.0	0.0	0.0	0.0
Cost of products sold	0.0	0.0	0.0	0.0
Gross profit	0.0	0.0	0.0	0.0
Selling, distribution, and administrative expenses	11.4	12.2	35.8	34.3
Intercompany charges	(1.3)	(0.8)	(3.3)	(2.4)
Special charge	0.0	0.0	0.0	0.0
Operating profit	(10.1)	(11.4)	(32.5)	(31.9)
Interest expense, net	2.7	2.6	8.2	7.9
Equity earnings in subsidiaries	(90.5)	(83.0)	(257.6)	(233.5)
Miscellaneous (income) expense, net	0.0	0.0	0.0	0.0
Income before provision for income taxes	77.7	69.0	216.9	193.7
(Benefit) provision for income taxes	(4.5)	(5.0)	(14.3)	(14.2)
Net income	82.2	74.0	231.2	207.9
Other comprehensive income (loss) items:
Foreign currency translation adjustments	2.4	10.0	(6.2)	(3.4)
Defined benefit pension plans, net of tax	2.0	1.3	6.1	4.0
Other comprehensive income (loss), net of tax	4.4	11.3	(0.1)	0.6
Comprehensive income	86.6	85.3	231.1	208.5
Subsidiary Issuer
Net Sales:
External sales	795.0	753.8	2,254.0	2,098.3
Intercompany sales	0.0	0.0	0.0	0.0
Total sales	795.0	753.8	2,254.0	2,098.3
Cost of products sold	446.6	405.1	1,280.3	1,151.6
Gross profit	348.4	348.7	973.7	946.7
Selling, distribution, and administrative expenses	213.4	218.5	609.6	601.2
Intercompany charges	0.1	0.3	0.5	0.9
Special charge	0.5	9.7	1.7	10.2
Operating profit	134.4	120.2	361.9	334.4
Interest expense, net	4.1	4.0	12.1	12.1
Equity earnings in subsidiaries	2.7	0.3	(6.3)	(5.7)
Miscellaneous (income) expense, net	(2.0)	0.1	(8.5)	(0.6)
Income before provision for income taxes	129.6	115.8	364.6	328.6
(Benefit) provision for income taxes	44.2	38.3	122.9	109.6
Net income	85.4	77.5	241.7	219.0
Other comprehensive income (loss) items:
Foreign currency translation adjustments	2.4	10.0	(6.2)	(3.4)
Defined benefit pension plans, net of tax	0.7	0.4	2.1	1.2
Other comprehensive income (loss), net of tax	3.1	10.4	(4.1)	(2.2)
Comprehensive income	88.5	87.9	237.6	216.8
Subsidiary Guarantor
Net Sales:
External sales	0.0	0.0	0.0	0.0
Intercompany sales	12.8	12.2	36.0	34.4
Total sales	12.8	12.2	36.0	34.4
Cost of products sold	0.0	0.0	0.0	0.0
Gross profit	12.8	12.2	36.0	34.4
Selling, distribution, and administrative expenses	0.9	0.9	2.7	2.9
Intercompany charges	0.0	0.0	0.0	0.0
Special charge	0.0	0.0	0.0	0.0
Operating profit	11.9	11.3	33.3	31.5
Interest expense, net	0.0	0.0	0.0	0.0
Equity earnings in subsidiaries	0.0	0.0	0.0	0.0
Miscellaneous (income) expense, net	0.0	0.0	0.0	0.0
Income before provision for income taxes	11.9	11.3	33.3	31.5
(Benefit) provision for income taxes	4.2	4.6	11.8	12.8
Net income	7.7	6.7	21.5	18.7
Other comprehensive income (loss) items:
Foreign currency translation adjustments	0.0	0.0	0.0	0.0
Defined benefit pension plans, net of tax	0.0	0.0	0.0	0.0
Other comprehensive income (loss), net of tax	0.0	0.0	0.0	0.0
Comprehensive income	7.7	6.7	21.5	18.7
Non- Guarantors
Net Sales:
External sales	96.6	97.7	293.5	267.6
Intercompany sales	39.7	29.9	128.3	91.4
Total sales	136.3	127.6	421.8	359.0
Cost of products sold	104.3	97.1	316.9	268.1
Gross profit	32.0	30.5	104.9	90.9
Selling, distribution, and administrative expenses	35.5	29.2	98.6	83.4
Intercompany charges	1.2	0.4	2.8	1.4
Special charge	0.0	0.0	0.0	0.0
Operating profit	(4.7)	0.9	3.5	6.1
Interest expense, net	1.3	1.5	4.0	4.2
Equity earnings in subsidiaries	0.0	0.0	0.2	0.2
Miscellaneous (income) expense, net	0.8	0.2	0.0	(0.9)
Income before provision for income taxes	(6.8)	(0.8)	(0.7)	2.6
(Benefit) provision for income taxes	(1.5)	0.7	(1.3)	1.3
Net income	(5.3)	(1.5)	0.6	1.3
Other comprehensive income (loss) items:
Foreign currency translation adjustments	0.0	0.0	0.0	0.0
Defined benefit pension plans, net of tax	0.7	0.4	2.1	1.0
Other comprehensive income (loss), net of tax	0.7	0.4	2.1	1.0
Comprehensive income	$ (4.6)	$ (1.1)	$ 2.7	$ 2.3

Supplemental Guarantor Condensed Consolidating Financial Statements (Cash Flows) (Details) - USD ($) $ in Millions	9 Months Ended
	May 31, 2017	May 31, 2016
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	$ 179.3	$ 243.9
Cash Provided by (Used for) Investing Activities:
Purchases of property, plant, and equipment	(55.2)	(61.8)
Proceeds from sale of property, plant, and equipment	5.5	2.3
Proceeds from sale of investment in unconsolidated affiliate	13.2	0.0
Investments in subsidiaries		0.0
Acquisition of businesses, net of cash acquired	0.0	(613.7)
Other investing activities	(0.2)	0.0
Net cash used for investing activities	(36.7)	(673.2)
Cash Provided by (Used for) Financing Activities:
Issuance of long-term debt	1.1	1.7
Proceeds from stock option exercises and other	2.7	10.0
Repurchases of common stock	(357.9)	0.0
Excess tax benefits from share-based payments	5.5	19.7
Dividends paid	(17.2)	(17.1)
Net cash (used for) provided by financing activities	(365.8)	14.3
Effect of exchange rates changes on cash	(0.3)	(4.8)
Net change in cash and cash equivalents	(223.5)	(419.8)
Cash and cash equivalents at beginning of period	413.2	756.8
Cash and cash equivalents at end of period	189.7	337.0
Consolidating Adjustments
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	0.0	0.0
Cash Provided by (Used for) Investing Activities:
Purchases of property, plant, and equipment	0.0	0.0
Proceeds from sale of property, plant, and equipment	0.0	0.0
Proceeds from sale of investment in unconsolidated affiliate	0.0
Investments in subsidiaries		0.0
Acquisition of businesses, net of cash acquired		0.0
Other investing activities	0.0
Net cash used for investing activities	0.0	0.0
Cash Provided by (Used for) Financing Activities:
Issuance of long-term debt	0.0	0.0
Proceeds from stock option exercises and other	0.0	0.0
Repurchases of common stock	0.0
Excess tax benefits from share-based payments	0.0	0.0
Dividends paid	0.0	0.0
Net cash (used for) provided by financing activities	0.0	0.0
Effect of exchange rates changes on cash	0.0	0.0
Net change in cash and cash equivalents	0.0	0.0
Cash and cash equivalents at beginning of period	0.0	0.0
Cash and cash equivalents at end of period	0.0	0.0
Parent
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	139.0	192.7
Cash Provided by (Used for) Investing Activities:
Purchases of property, plant, and equipment	0.0	0.0
Proceeds from sale of property, plant, and equipment	0.0	0.0
Proceeds from sale of investment in unconsolidated affiliate	0.0
Investments in subsidiaries		(385.6)
Acquisition of businesses, net of cash acquired		0.0
Other investing activities	0.0
Net cash used for investing activities	0.0	(385.6)
Cash Provided by (Used for) Financing Activities:
Issuance of long-term debt	0.0	0.0
Proceeds from stock option exercises and other	2.7	10.0
Repurchases of common stock	(357.9)
Excess tax benefits from share-based payments	5.5	19.7
Dividends paid	(17.2)	(17.1)
Net cash (used for) provided by financing activities	(366.9)	12.6
Effect of exchange rates changes on cash	0.0	0.0
Net change in cash and cash equivalents	(227.9)	(180.3)
Cash and cash equivalents at beginning of period	368.2	479.9
Cash and cash equivalents at end of period	140.3	299.6
Subsidiary Issuer
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	31.7	49.6
Cash Provided by (Used for) Investing Activities:
Purchases of property, plant, and equipment	(44.3)	(51.1)
Proceeds from sale of property, plant, and equipment	0.1	0.1
Proceeds from sale of investment in unconsolidated affiliate	13.2
Investments in subsidiaries		385.6
Acquisition of businesses, net of cash acquired		(384.4)
Other investing activities	(0.2)
Net cash used for investing activities	(31.2)	(49.8)
Cash Provided by (Used for) Financing Activities:
Issuance of long-term debt	0.0	0.0
Proceeds from stock option exercises and other	0.0	0.0
Repurchases of common stock	0.0
Excess tax benefits from share-based payments	0.0	0.0
Dividends paid	0.0	0.0
Net cash (used for) provided by financing activities	0.0	0.0
Effect of exchange rates changes on cash	(0.5)	0.2
Net change in cash and cash equivalents	0.0	0.0
Cash and cash equivalents at beginning of period	0.0	0.0
Cash and cash equivalents at end of period	0.0	0.0
Subsidiary Guarantor
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	0.0	0.0
Cash Provided by (Used for) Investing Activities:
Purchases of property, plant, and equipment	0.0	0.0
Proceeds from sale of property, plant, and equipment	0.0	0.0
Proceeds from sale of investment in unconsolidated affiliate	0.0
Investments in subsidiaries		0.0
Acquisition of businesses, net of cash acquired		0.0
Other investing activities	0.0
Net cash used for investing activities	0.0	0.0
Cash Provided by (Used for) Financing Activities:
Issuance of long-term debt	0.0	0.0
Proceeds from stock option exercises and other	0.0	0.0
Repurchases of common stock	0.0
Excess tax benefits from share-based payments	0.0	0.0
Dividends paid	0.0	0.0
Net cash (used for) provided by financing activities	0.0	0.0
Effect of exchange rates changes on cash	0.0	0.0
Net change in cash and cash equivalents	0.0	0.0
Cash and cash equivalents at beginning of period	0.0	0.0
Cash and cash equivalents at end of period	0.0	0.0
Non- Guarantors
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	8.6	1.6
Cash Provided by (Used for) Investing Activities:
Purchases of property, plant, and equipment	(10.9)	(10.7)
Proceeds from sale of property, plant, and equipment	5.4	2.2
Proceeds from sale of investment in unconsolidated affiliate	0.0
Investments in subsidiaries		0.0
Acquisition of businesses, net of cash acquired		(229.3)
Other investing activities	0.0
Net cash used for investing activities	(5.5)	(237.8)
Cash Provided by (Used for) Financing Activities:
Issuance of long-term debt	1.1	1.7
Proceeds from stock option exercises and other	0.0	0.0
Repurchases of common stock	0.0
Excess tax benefits from share-based payments	0.0	0.0
Dividends paid	0.0	0.0
Net cash (used for) provided by financing activities	1.1	1.7
Effect of exchange rates changes on cash	0.2	(5.0)
Net change in cash and cash equivalents	4.4	(239.5)
Cash and cash equivalents at beginning of period	45.0	276.9
Cash and cash equivalents at end of period	$ 49.4	$ 37.4