Acuity Brands (AYI) 10-Q29 Jun 232023 Q3 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	9 Months Ended
Cover Page - shares	May 31, 2023	Jun. 26, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	May 31, 2023
Document Transition Report	false
Entity File Number	001-16583
Entity Registrant Name	ACUITY BRANDS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	58-2632672
Entity Address, Address Line One	1170 Peachtree Street, N.E.
Entity Address, Address Line Two	Suite 1200
Entity Address, City or Town	Atlanta
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30309
City Area Code	404
Local Phone Number	853-1400
Title of 12(b) Security	Common stock, $0.01 par value per share
Trading Symbol	AYI
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		31,192,406
Entity Central Index Key	0001144215
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--08-31

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	May 31, 2023	Aug. 31, 2022
Current assets:
Cash and cash equivalents	$ 359.3	$ 223.2
Accounts receivable, less reserve for doubtful accounts of $1.3 and $1.2, respectively	545	665.9
Inventories	400.5	485.7
Prepayments and other current assets	103.6	91.2
Total current assets	1,408.4	1,466
Property, plant, and equipment, net	290.4	276.5
Operating lease right-of-use assets	84.8	74.9
Goodwill	1,096.7	1,084.3
Intangible assets, net	504.9	529.2
Deferred income taxes	1.3	1.3
Other long-term assets	52.4	48
Total assets	3,438.9	3,480.2
Current liabilities:
Accounts payable	344.3	397.8
Current maturities of debt	0	18
Current operating lease liabilities	19.2	15.7
Accrued compensation	83.1	88
Other current liabilities	177.6	214.1
Total current liabilities	624.2	733.6
Long-term debt	495.4	495
Long-term operating lease liabilities	78	67.4
Accrued pension liabilities	41.9	41.4
Deferred income taxes	103.2	102.1
Other long-term liabilities	126.4	128.9
Total liabilities	1,469.1	1,568.4
Commitments and contingencies (see Commitments and Contingencies footnote)
Stockholders’ equity:
Preferred stock, $0.01 par value; 50,000,000 shares authorized; none issued	0	0
Common stock, $0.01 par value; 500,000,000 shares authorized; 54,400,920 and 54,241,069 issued, respectively	0.5	0.5
Paid-in capital	1,056.9	1,036.3
Retained earnings	3,426.6	3,176.2
Accumulated other comprehensive loss	(120)	(125.8)
Treasury stock, at cost, of 23,055,460 and 21,753,820 shares, respectively	(2,394.2)	(2,175.4)
Total stockholders’ equity	1,969.8	1,911.8
Total liabilities and stockholders’ equity	$ 3,438.9	$ 3,480.2

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	May 31, 2023	Aug. 31, 2022
Current assets:
Allowance for doubtful accounts	$ 1.3	$ 1.2
Stockholders’ equity:
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	54,400,920	54,241,069
Treasury stock, shares (in shares)	23,055,460	21,753,820

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) shares in Thousands, $ in Millions		3 Months Ended		9 Months Ended
		May 31, 2023	May 31, 2022	May 31, 2023	May 31, 2022
Income Statement [Abstract]
Net sales		$ 1,000.3	$ 1,060.6	$ 2,941.8	$ 2,895.8
Cost of products sold		553	615.5	1,671.3	1,685.6
Gross profit		447.3	445.1	1,270.5	1,210.2
Selling, distribution, and administrative expenses		304	302.4	899.9	850.1
Special charges		0	0	6.9	0
Operating profit		143.3	142.7	363.7	360.1
Other expense:
Interest expense, net		3.9	6.2	16.2	18.1
Miscellaneous expense (income), net		0.7	(1.5)	6.1	(3.1)
Total other expense		4.6	4.7	22.3	15
Income before income taxes		138.7	138	341.4	345.1
Income tax expense		33.7	32.3	78.3	76.5
Net income		$ 105	$ 105.7	$ 263.1	$ 268.6
Earnings per share
Basic earnings per share (in dollars per share)	[1]	$ 3.31	$ 3.10	$ 8.22	$ 7.75
Basic weighted average number of shares outstanding (in shares)	[1]	31,682	34,079	32,006	34,659
Diluted earnings per share (in dollars per share)	[1]	$ 3.28	$ 3.07	$ 8.13	$ 7.66
Diluted weighted average number of shares outstanding (in shares)	[1]	32,011	34,440	32,360	35,067
Dividends declared per share (in dollars per share)	[1]	$ 0.13	$ 0.13	$ 0.39	$ 0.39
Comprehensive income:
Net income		$ 105	$ 105.7	$ 263.1	$ 268.6
Other comprehensive income (loss) items:
Foreign currency translation adjustments		5.2	(1.8)	2.6	(8.9)
Defined benefit plans, net of tax		1.1	1.2	3.2	3.6
Other comprehensive income (loss) items, net of tax		6.3	(0.6)	5.8	(5.3)
Comprehensive income		$ 111.3	$ 105.1	$ 268.9	$ 263.3

[1]Earnings per share is calculated using unrounded numbers. Amounts in the table may not recalculate exactly due to rounding.

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	9 Months Ended
	May 31, 2023	May 31, 2022
Cash flows from operating activities:
Net income	$ 263.1	$ 268.6
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization	70.4	71.4
Share-based payment expense	32.4	27.5
Gain on sale of property, plant, and equipment	0	(2.3)
Asset impairment	4.3	1.7
Loss on sale of a business	11.2	0
Changes in operating assets and liabilities, net of acquisitions and divestitures:
Accounts receivable	123.9	(27.2)
Inventories	82.6	(174.5)
Prepayments and other current assets	(9.6)	(38.3)
Accounts payable	(53.4)	58.9
Other	(53.4)	(20.1)
Net cash provided by operating activities	471.5	165.7
Cash flows from investing activities:
Purchases of property, plant, and equipment	(48)	(38)
Proceeds from sale of property, plant, and equipment	0	8.9
Acquisition of businesses, net of cash acquired	(35.4)	(12.2)
Other investing activities	7	(1.9)
Net cash used for investing activities	(76.4)	(43.2)
Cash flows from financing activities:
Repayments on credit facility, net of borrowings	(18)	122
Repurchases of common stock	(216.2)	(403.5)
Proceeds from stock option exercises and other	2.1	10.6
Payments of taxes withheld on net settlement of equity awards	(13.9)	(8)
Dividends paid	(12.7)	(13.7)
Net cash used for financing activities	(258.7)	(292.6)
Effect of exchange rate changes on cash and cash equivalents	(0.3)	(3)
Net change in cash and cash equivalents	136.1	(173.1)
Cash and cash equivalents at beginning of period	223.2	491.3
Cash and cash equivalents at end of period	359.3	318.2
Supplemental cash flow information:
Income taxes paid during the period	83.8	80.8
Interest paid during the period	$ 22.3	$ 19.2

Description of Business and Bas

Description of Business and Basis of Presentation	9 Months Ended
Description of Business and Basis of Presentation	May 31, 2023
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. (referred to herein as “we,” “our,” “us,” the “Company,” or similar references) is a market-leading industrial technology company. We use technology to solve problems in spaces and light. Through our two business segments, Acuity Brands Lighting and Lighting Controls (“ABL”) and the Intelligent Spaces Group (“ISG”), we design, manufacture, and bring to market products and services that make a valuable difference in people's lives. We achieve growth through the development of innovative new products and services, including lighting, lighting controls, building management solutions, and location-aware applications. ABL Segment ABL's portfolio of lighting solutions includes commercial, architectural, and specialty lighting in addition to lighting controls and components that can be combined to create integrated lighting controls systems. We offer devices such as luminaires that predominantly utilize light emitting diode (“LED”) technology designed to optimize energy efficiency and comfort for various indoor and outdoor applications. ABL's portfolio of products includes but is not limited to the following brands: A-Light TM , Aculux TM , American Electric Lighting ® , Cyclone TM , Dark to Light ® , eldoLED ® , Eureka ® , Gotham ® , Healthcare Lighting ® , Holophane ® , Hydrel ® , Indy TM , IOTA ® , Juno ® , Lithonia Lighting ® , Luminaire LED TM , Luminis ® , Mark Architectural Lighting TM , nLight ® , OPTOTRONIC ® , Peerless ® , RELOC ® Wiring Solutions, and Sensor Switch ® . Principal customers of ABL include electrical distributors, retail home improvement centers, electric utilities, national accounts, original equipment manufacturer (“OEM”) customers, digital retailers, lighting showrooms, and energy service companies. Our customers are located in North America and select international markets that serve new construction, renovation and retrofit, and maintenance and repair applications. ABL's lighting and lighting controls solutions are sold primarily through a network of independent sales agencies that cover specific geographic areas and market channels, by internal sales representatives, through consumer retail channels, directly to large corporate accounts, and directly to OEM customers. Products are delivered directly from our manufacturing facilities or through a network of distribution centers, regional warehouses, and commercial warehouses using both common carriers and a company-managed truck fleet. To serve international customers, our sales forces utilize a variety of distribution methods to meet specific individual customer or country requirements. ISG Segment ISG delivers products and services that make spaces smarter, safer, and greener. ISG offers a building management platform and location-aware applications. Our building management solutions include products for controlling heating, ventilation, air conditioning (“HVAC”), lighting, shades, refrigeration, and building access that deliver end-to-end optimization of those building systems. Our Atrius ® intelligent building software enhances the occupant experience, improves building system management, and automates labor intensive tasks while delivering operational energy efficiency and cost reductions. Through a connected and converged building system architecture, our Atrius ® software delivers different applications, allows clients to upgrade over time with natural refresh cycles, and deploys new capabilities through both software and hardware updates. Customers of ISG primarily include system integrators as well as retail stores, airports, and enterprise campuses throughout North America and select international locations. ISG products and solutions are marketed under multiple brand names, including but not limited to Atrius ® , Distech Controls ® , and KE2 Therm Solutions ® . Basis of Presentation We have prepared the Consolidated Financial Statements in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) to present the financial position, results of operations, and cash flows of Acuity Brands, Inc. 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 our consolidated financial position as of May 31, 2023, our consolidated comprehensive income for the three and nine months ended May 31, 2023 and 2022, and our consolidated cash flows for the nine months ended May 31, 2023 and 2022. Certain information and footnote disclosures normally included in our annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. However, we believe 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 as of and for the three years in the period ended August 31, 2022 and notes thereto included in our Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on October 26, 2022 (File No. 001-16583) (“Form 10-K”). Our business exhibits some seasonality, with net sales being affected by weather and seasonal demand on construction and installation programs, particularly during the winter months, as well as the annual budget cycles of major customers. Historically, with certain exceptions, we have experienced our highest sales in the last two quarters of each fiscal year due to these factors. We do not expect the remainder of fiscal 2023 to follow this historical trend.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
Significant Accounting Policies	May 31, 2023
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 We may reclassify certain prior period amounts to conform to the current year presentation. No material reclassifications occurred during the current period.

Acquisitions and Divestitures

Acquisitions and Divestitures	9 Months Ended
Acquisitions and Divestitures	May 31, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures Acquisitions On May 15, 2023, using cash on hand, we acquired all of the equity interests of KE2 Therm Solutions, Inc. ("KE2 Therm"). KE2 Therm develops and provides intelligent refrigeration control solutions that deliver the precision of digital controls to promote safety, efficiency, and reliability, while delivering cost savings to the customer. This acquisition is intended to expand ISG's technology and controls product portfolio and reach new customers. There were no acquisitions during fiscal 2022. The $12.2 million of cash outflows reflected in the fiscal 2022 Consolidated Statements of Cash Flows relate to fiscal 2021 acquisitions primarily for working capital settlements. Accounting for Acquisitions We accounted for the acquisition of KE2 Therm in accordance with Accounting Standards Codification (“ASC”) Topic 805, Business Combinations (“ASC 805”). Acquired assets and liabilities were recorded at their estimated acquisition-date fair values, and acquisition-related costs were expensed as incurred. The aggregate purchase price of these acquisitions reflects preliminary goodwill within the ISG segment of $15.2 million, which is not expected to be deductible for tax purposes. The goodwill is primarily comprised of expected benefits related to expanding ISG's technology and controls product portfolio as well as the trained workforce acquired with these businesses and expected synergies from combining the operations of KE2 Therm with our operations. We additionally recorded preliminary intangible assets of $18.0 million, which reflect estimates for definite-lived intangibles with a preliminary estimated weighted average useful life of approximately 15 years. Amounts recorded for acquired assets and liabilities are deemed to be provisional until disclosed otherwise as we continue to gather information related to the identification and valuation of acquired assets and liabilities including, but not limited to, intangible assets, tax-related items, and final net working capital adjustments, if any. The operating results of KE2 Therm have been included in our financial statements since the date of acquisition and are not material to our financial condition, results of operations, or cash flows. Divestitures We sold our Sunoptics prismatic skylights business in November 2022. We transferred assets with a total carrying value of $15.1 million, which primarily consisted of intangibles with definite lives, inventories, and allocated goodwill from the ABL segment. We recognized a pre-tax loss on the sale of $11.2 million within Miscellaneous expense, net on the Consolidated Statements of Comprehensive Income . Additionally, we recorded impairment charges for certain retained assets as well as associate severance and other costs related to the sale. These items are included within Special charges on the Consolidated Statements of Comprehensive Income . See the Special Charges footnote of the Notes to Consolidated Financial Statements for further details.

New Accounting Pronouncements

New Accounting Pronouncements	9 Months Ended
New Accounting Pronouncements	May 31, 2023
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements Accounting Standards Adopted in Fiscal 2023 Accounting Standards Update (“ASU”) 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (“ASU 2021-08”) In October 2021, the Financial Accounting Standards Board (the “FASB”) issued ASU 2021-08, which requires companies to recognize and measure contract assets and contract liabilities acquired in a business combination as if the acquiring company originated the related revenue contracts. ASU 2021-08 is effective for fiscal years beginning after December 15, 2022, or our fiscal 2024, with early adoption permitted, including in an interim period. We early adopted ASU 2021-08 as of May 15, 2023 on a prospective basis as permitted by the standard and applied its provisions to the acquisition of KE2 Therm. This standard did not have a material effect on the KE2 Therm acquisition or our financial condition, results of operations, or cash flows. Accounting Standards Yet to Be Adopted ASU 2023-02, Investments—Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method (“ASU 2023-02”) In March 2023, the FASB issued ASU 2023-02, which expands the permitted use of the proportional amortization method of accounting for certain tax-related investments if certain conditions are met. ASU 2023-02 is effective for fiscal years beginning after December 15, 2023, or our fiscal 2025, with early adoption permitted, including in an interim period. As of May 15, 2023, we do not hold any qualifying investments. Therefore, we do not expect ASU 2023-02 to have a material impact on our financial condition, results of operations, or cash flows. All other newly issued accounting pronouncements not yet effective have been deemed either immaterial or not applicable.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	May 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements We determine fair value measurements based on the assumptions a market participant would use in pricing an asset or liability. Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurement (“ASC 820”), establishes a three-level hierarchy that distinguishes 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). We utilize valuation methodologies to determine the fair values of our 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. 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. Financial Instruments Recorded at Fair Value We used quoted market prices to determine the fair value of Level 1 assets and liabilities. Our cash and cash equivalents (Level 1), which are required to be carried at fair value and measured on a recurring basis, were $359.3 million and $223.2 million as of May 31, 2023 and August 31, 2022, respectively. We hold a small number of strategic investments totaling $9.5 million and $11.9 million as of May 31, 2023 and August 31, 2022, respectively. These investments are primarily equity instruments in privately-held entities over which we do not exercise significant influence or control. We generally account for these investments at fair value on a recurring basis; however, most of these investments do not have readily determinable fair value. We have elected the practical expedient in ASC Topic 321, Investments—Equity Securities , to measure such investments at cost less any impairment adjusted for observable price changes, if any. As such, these investments are excluded from the fair value hierarchy. During the second quarter of fiscal 2023, we received cash for the cancellation of one of these strategic investments, whose underlying company was acquired by a third party. We also received preferred equity in the third party that is carried at fair value on a recurring basis and is accounted for under ASC 320, Investments—Debt Securities using discounted cash flows based on rates of similar instruments (Level 2) . Changes in the fair values of these financial instruments during the three and nine months ended May 31, 2023 and 2022 were not material to our financial condition, results of operations, or cash flows. Disclosures of Fair Value of Financial Instruments Disclosures of fair value information about financial instruments, 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. Fair value for our outstanding debt obligations is estimated based on discounted future cash flows using rates currently available for debt of similar terms and maturity (Level 2). Our 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. The estimated fair value of our senior unsecured public notes was $401.4 million and $399.2 million as of May 31, 2023 and August 31, 2022, respectively. We had no short-term borrowings and $18.0 million of short-term borrowings outstanding under our revolving credit facility as of May 31, 2023 and August 31, 2022, respectively. These borrowings are variable-rate instruments that reset on a frequent short-term basis; therefore, we estimate that any outstanding carrying values, which are equal to the face amounts, of these instruments approximate their fair values. See Debt and Lines of Credit footnote of the Notes to Consolidated Financial Statements for further details on our outstanding borrowings. 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 us. 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 our management of liquidity and other risks, the fair values of all assets and liabilities should be taken into consideration, not only those presented above.

Inventories

Inventories	9 Months Ended
Inventories	May 31, 2023
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories include materials, direct labor, inbound freight, customs, duties, tariffs, and related manufacturing overhead. Inventories are stated on a first-in, first-out basis at the lower of cost and net realizable value and consist of the following as of the dates presented (in millions): May 31, 2023 August 31, 2022 Raw materials, supplies, and work in process (1) $ 231.0 $ 252.6 Finished goods 199.9 264.0 Inventories excluding reserves 430.9 516.6 Less: Reserves (30.4) (30.9) Total inventories $ 400.5 $ 485.7 _______________________________________ (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, we do not believe the segregation of raw materials and work in process is meaningful information. We review inventory quantities on hand and record a provision for excess or obsolete inventory primarily based on estimated future demand and current market conditions. A significant change in customer demand or market conditions could render certain inventory obsolete and could have a material adverse impact on our operating results in the period the change occurs.

Property, Plant, and Equipment

Property, Plant, and Equipment	9 Months Ended
Property, Plant, and Equipment	May 31, 2023
Property, Plant and Equipment [Abstract]
Property, Plant, and Equipment	Property, Plant, and Equipment Property, plant, and equipment consist of the following as of the dates presented (in millions): May 31, 2023 August 31, 2022 Land $ 22.7 $ 22.0 Buildings and leasehold improvements 207.6 202.3 Machinery and equipment 710.2 667.6 Total property, plant, and equipment, at cost 940.5 891.9 Less: Accumulated depreciation and amortization (650.1) (615.4) Property, plant, and equipment, net $ 290.4 $ 276.5

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
Goodwill and Intangible Assets	May 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Through multiple acquisitions, we acquired definite-lived intangible assets consisting primarily of customer relationships, patented technology, distribution networks, and trademarks and trade names associated with specific products, which are amortized over their estimated useful lives. Indefinite-lived intangible assets consist of trade names that are expected to generate cash flows indefinitely. We recorded amortization expense for definite-lived intangible assets of $9.2 million and $10.2 million during the three months ended May 31, 2023 and 2022, respectively, and $32.1 million and $30.8 million during the nine months ended May 31, 2023 and 2022, respectively. Amortization expense is generally recorded on a straight-line basis. The following table summarizes the expected amortization expense for the next five fiscal years as of the date presented (in millions): Fiscal Year May 31, 2023 2023 $ 41.9 2024 38.1 2025 30.6 2026 27.9 2027 26.4 The following table summarizes the changes in the carrying amount of goodwill by segment during the periods presented (in millions): ABL ISG Total Balance as of August 31, 2022 $ 1,014.2 $ 70.1 $ 1,084.3 Provisional amounts from acquired businesses — 15.2 15.2 Derecognitions for divestitures (0.7) — (0.7) Foreign currency translation adjustments (0.2) (1.9) (2.1) Balance as of May 31, 2023 $ 1,013.3 $ 83.4 $ 1,096.7 ABL ISG Total Balance as of August 31, 2021 $ 1,022.2 $ 72.5 $ 1,094.7 Adjustments to provisional amounts from acquired businesses 0.6 — 0.6 Foreign currency translation adjustments (4.3) (0.1) (4.4) Balance as of May 31, 2022 $ 1,018.5 $ 72.4 $ 1,090.9 Further discussion of goodwill and other intangible assets is included within the Significant Accounting Policies footnote of the Notes to Consolidated Financial Statements within our Form 10-K.

Other Current Liabilities

Other Current Liabilities	9 Months Ended
Other Current Liabilities	May 31, 2023
Payables and Accruals [Abstract]
Other Current Liabilities	Other Current Liabilities Other current liabilities consist of the following as of the dates presented (in millions): May 31, 2023 August 31, 2022 Customer incentive programs (1) $ 23.8 $ 40.7 Refunds to customers (1) 25.2 28.0 Current deferred revenues (1) 12.9 11.4 Sales commissions 31.1 41.9 Freight costs 16.0 22.8 Warranty and recall costs (2) 26.5 22.4 Tax-related items (3) 5.5 13.9 Interest on long-term debt (4) 5.0 2.3 Other 31.6 30.7 Total other current liabilities $ 177.6 $ 214.1 ____________________________________ (1) Refer to the Revenue Recognition footnote of the Notes to Consolidated Financial Statements within our Form 10-K for additional information. (2) Refer to the Commitments and Contingencies footnote of the Notes to Consolidated Financial Statements for additional information. (3) Includes accruals for income, sales and use, and value added taxes. (4) Refer to the Debt and Lines of Credit footnote of the Notes to Consolidated Financial Statements for additional information.

Debt and Lines of Credit

Debt and Lines of Credit	9 Months Ended
Debt and Lines of Credit	May 31, 2023
Debt Disclosure [Abstract]
Debt and Lines of Credit	Debt and Lines of Credit Long-term Debt On November 10, 2020, Acuity Brands Lighting, Inc. issued $500.0 million aggregate principal amount of 2.150% senior unsecured notes due December 15, 2030 (the “Unsecured Notes”) at a price equal to 99.737% of their face value. Interest on the Unsecured Notes is paid semi-annually in arrears on June 15 and December 15 of each year. We recorded $4.8 million of deferred issuance costs related to the Unsecured Notes as a direct deduction from the face amount of the Unsecured Notes. These issuance costs are amortized over the 10-year term of the Unsecured Notes. The Unsecured Notes are fully and unconditionally guaranteed on a senior unsecured basis by Acuity Brands, Inc. and ABL IP Holding LLC, a wholly-owned subsidiary of Acuity Brands, Inc. Lines of Credit On June 30, 2022, we entered into a credit agreement (the “Credit Agreement”) with a syndicate of banks that provides us with a $600.0 million five-year unsecured revolving credit facility (the “Revolving Credit Facility”) with the ability to request an additional $400.0 million of borrowing capacity. We had no short-term borrowings at May 31, 2023 and $18.0 million in short-term borrowings at August 31, 2022 outstanding under the Revolving Credit Facility. The Revolving Credit Facility uses the Secured Overnight Financing Rate (“SOFR”) as the applicable benchmark for U.S. Dollar borrowings and an applicable benchmark rate for non-U.S. Dollar borrowings as defined in the Credit Agreement. The applicable margin pricing grid mechanics are based on the better of our public credit ratings or our net leverage ratio and range from 0.80% to 1.20% for base rate borrowings and from 0.00% to 0.20% for floating rate advances. We are also required to pay certain fees in connection with the Credit Agreement, including administrative service fees and annual facility fees, which range from 0.075% to 0.175% of the aggregate $600.0 million remaining commitment of the lenders under the Credit Agreement. The Credit Agreement contains a leverage ratio covenant (“Maximum Leverage Ratio”) of total indebtedness to earnings before interest, tax, depreciation, and amortization (“EBITDA”), as such terms are defined in the Credit Agreement. This ratio is computed at the end of each fiscal quarter for the most recent 12-month period. The Credit Agreement generally allows for a Maximum Leverage Ratio of 3.75 (subject to a temporary increase to 4.25 in the event of a significant acquisition) and allows netting of all unrestricted cash and cash equivalents against debt. We were in compliance with all covenants under the Credit Agreement as of May 31, 2023. At May 31, 2023, we had additional borrowing capacity under the Credit Agreement of $596.2 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 $3.8 million issued under the Revolving Credit Facility, primarily for securing collateral requirements under our casualty insurance programs. Borrowings and repayments on our Revolving Credit Facility with terms of three months or less are reported on a net basis on our Consolidated Statements of Cash Flows . Interest Expense, net Interest expense, net , is comprised primarily of interest expense on long-term debt, line of credit borrowings, and loans that are secured by and presented net of company-owned life insurance policies on our Consolidated Balance Sheets . Interest expense is partially offset by interest income earned on cash and cash equivalents. The following table summarizes the components of interest expense, net for the periods presented (in millions): Three Months Ended Nine Months Ended May 31, 2023 May 31, 2022 May 31, 2023 May 31, 2022 Interest expense $ 6.3 $ 6.6 $ 21.8 $ 19.2 Interest income (2.4) (0.4) (5.6) (1.1) Interest expense, net $ 3.9 $ 6.2 $ 16.2 $ 18.1

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	May 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies In the normal course of business, we are 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 estimated liabilities and claims, legal and contractual issues, environmental laws and regulations, guarantees, and indemnities. We establish estimated liabilities when the associated costs related to uncertainties or guarantees become probable and can be reasonably estimated. For the period ended May 31, 2023, no material changes have occurred in our estimated liabilities 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 our Form 10-K other than the items discussed below as well as the dismissal of the shareholder derivative complaint as previously disclosed. Product Warranty and Recall Costs Our products generally have a standard warranty term of five years that assures our products comply with agreed upon specifications. We record an accrual for the estimated amount of future warranty costs when the related revenue is recognized. Estimated future warranty and recall costs are primarily based on historical experience of identified warranty and recall claims. Estimated costs related to product warranty and recall costs outside of our historical experience, which could include significant product recalls or formal campaigns soliciting repair or return of a product, are accrued when they are deemed to be probable and can be reasonably estimated. Any estimated or actual loss recoveries that offset our costs and payments are reflected as assets and included within Other current assets or Other long-term assets on the Consolidated Balance Sheets based on the expected timing of receipt of recovery. There can be no assurance future warranty and recall costs will not exceed historical amounts, new technology products may not generate unexpected costs, and/or loss recoveries will not be fully collectible. If actual future warranty or recall costs exceed historical amounts, additional increases in the accrual may be required, which could have a material adverse impact on our results of operations and cash flows. Estimated liabilities for product warranty and recall costs are included in Other current liabilities and Other long-term liabilities on the Consolidated Balance Sheets based upon when we expect to settle the incurred warranty. The following table summarizes changes in the estimated liabilities for product warranty and recall costs during the periods presented (in millions): Nine Months Ended May 31, 2023 May 31, 2022 Beginning balance $ 27.3 $ 20.3 Warranty and recall costs 36.1 21.4 Payments and other deductions (32.2) (21.3) Ending balance $ 31.2 $ 20.4 Data Security Incidents On December 14, 2022, a former associate filed a putative class action complaint against the Company in the United States District Court for the Northern District of Georgia on behalf of all persons whose personal information was compromised as a result of data security incidents we experienced in October 2020 and/or December 2021. On January 25, 2023, a second putative class action complaint was filed in the same venue by two other former associates. Both complaints contain similar allegations and claim that the Company failed to exercise reasonable caution in securing and safeguarding associate information. On that basis, the complaints assert claims for negligence, breach of contract, breach of implied contract, unjust enrichment, breach of fiduciary duty, invasion of privacy, and breach of confidence. The plaintiffs seek class certification, monetary damages, certain injunctive relief regarding our data-security measures, additional credit-monitoring services, other equitable relief (including disgorgement), attorneys’ fees, costs, and pre- and post-judgment interest. The Plaintiffs recently filed a notice of voluntary dismissal without prejudice, and we continue to prepare our response strategy to any forthcoming claims. Estimating an amount or range of possible losses resulting from litigation proceedings is inherently difficult, particularly where the matters involve indeterminate claims for monetary damages and are in the early stages of the proceedings where key evidential and legal issues have not been resolved. In addition, we have received inquiries from, and it is also possible that investigations or other actions are taken by, state and/or federal agencies regarding the data security incidents and related data privacy matters. For these reasons, we are currently unable to predict the ultimate timing or outcome of or reasonably estimate the possible losses or a range of possible losses resulting from the matters described above. We have insurance, subject to certain terms and conditions, for these types of matters. Litigation We are subject to various other 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 our financial condition, results of operations, or cash flows. 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 our financial condition, results of operations, or cash flows in future periods. We establish estimated liabilities 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 accrued for such claims. However, we cannot make a meaningful estimate of actual costs to be incurred that could possibly be higher or lower than the accrued amounts.

Changes in Stockholders' Equity

Changes in Stockholders' Equity	9 Months Ended
Changes in Stockholders' Equity	May 31, 2023
Equity [Abstract]
Changes in Stockholders' Equity	Changes in Stockholders' Equity The following tables summarize changes in the components of stockholders' equity for the periods presented (in millions): Common Stock Outstanding Shares Amount Paid-in Retained Accumulated Other Treasury Total Balance, August 31, 2022 32.5 $ 0.5 $ 1,036.3 $ 3,176.2 $ (125.8) $ (2,175.4) $ 1,911.8 Net income — — — 74.9 — — 74.9 Other comprehensive loss — — — — (0.4) — (0.4) Share-based payment amortization, issuances, and cancellations 0.2 — (1.8) — — — (1.8) Employee stock purchase plan issuances — — 0.5 — — — 0.5 Cash dividends of $0.13 per share paid on common stock — — — (4.3) — — (4.3) Stock options exercised — — 0.4 — — — 0.4 Repurchases of common stock (0.5) — — — — (77.6) (77.6) Balance, November 30, 2022 32.2 0.5 1,035.4 3,246.8 (126.2) (2,253.0) 1,903.5 Net income — — — 83.2 — — 83.2 Other comprehensive loss — — — — (0.1) — (0.1) Share-based payment amortization, issuances, and cancellations — — 10.9 — — — 10.9 Employee stock purchase plan issuances — — 0.3 — — — 0.3 Cash dividends of $0.13 per share paid on common stock — — — (4.2) — — (4.2) Stock options exercised — — 0.5 — — — 0.5 Repurchases of common stock (0.2) — — — — (46.5) (46.5) Balance, February 28, 2023 32.0 0.5 1,047.1 3,325.8 (126.3) (2,299.5) 1,947.6 Net income — — — 105.0 — — 105.0 Other comprehensive income — — — — 6.3 — 6.3 Share-based payment amortization, issuances, and cancellations — — 9.4 — — — 9.4 Employee stock purchase plan issuances — — 0.4 — — — 0.4 Cash dividends of $0.13 per share paid on common stock — — — (4.2) — — (4.2) Repurchases of common stock (0.6) — — — — (94.7) (94.7) Balance, May 31, 2023 31.4 $ 0.5 $ 1,056.9 $ 3,426.6 $ (120.0) $ (2,394.2) $ 1,969.8 Common Stock Outstanding Shares Amount Paid-in Retained Accumulated Other Treasury Total Balance, August 31, 2021 35.2 $ 0.5 $ 995.6 $ 2,810.3 $ (98.2) $ (1,663.7) $ 2,044.5 Net income — — — 87.6 — — 87.6 Other comprehensive loss — — — — (10.7) — (10.7) Share-based payment amortization, issuances, and cancellations 0.1 — 0.4 — — — 0.4 Employee stock purchase plan issuances — — 0.6 — — — 0.6 Cash dividends of $0.13 per share paid on common stock — — — (4.7) — — (4.7) Stock options exercised 0.1 — 8.0 — — — 8.0 Repurchases of common stock (0.3) — — — — (52.8) (52.8) Balance, November 30, 2021 35.1 0.5 1,004.6 2,893.2 (108.9) (1,716.5) 2,072.9 Net income — — — 75.3 — — 75.3 Other comprehensive income — — — — 6.0 — 6.0 Share-based payment amortization, issuances, and cancellations — — 9.4 — — — 9.4 Employee stock purchase plan issuances — — 0.4 — — — 0.4 Cash dividends of $0.13 per share paid on common stock — — — (4.6) — — (4.6) Stock options exercised — — 1.2 — — — 1.2 Repurchases of common stock (0.3) — — — — (56.3) (56.3) Balance, February 28, 2022 34.8 0.5 1,015.6 2,963.9 (102.9) (1,772.8) 2,104.3 Net income — — — 105.7 — — 105.7 Other comprehensive loss — — — — (0.6) — (0.6) Share-based payment amortization, issuances, and cancellations — — 9.2 — — — 9.2 Employee stock purchase plan issuances — — 0.4 — — — 0.4 Cash dividends of $0.13 per share paid on common stock — — — (4.4) — — (4.4) Repurchases of common stock (1.7) — — — — (296.0) (296.0) Balance, May 31, 2022 33.1 $ 0.5 $ 1,025.2 $ 3,065.2 $ (103.5) $ (2,068.8) $ 1,918.6

Revenue Recognition

Revenue Recognition	9 Months Ended
Revenue Recognition	May 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition We recognize revenue when we transfer control of goods and services to our customers. Revenue is measured as the amount of consideration we expect to receive in exchange for goods and services and is recognized net of allowances for rebates, sales incentives, product returns, and discounts to customers. We allocate the expected consideration to be collected to each distinct performance obligation identified in a sale based on its standalone selling price. Sales and use taxes collected on behalf of governmental authorities are excluded from revenues. Further details regarding revenue recognition are included within the Revenue Recognition footnote of the Notes to Consolidated Financial Statements within our Form 10-K. Contract Balances Our rights related to collections from customers are unconditional and are reflected within Accounts receivable on the Consolidated Balance Sheets at net realizable value. Further details regarding our method for developing our estimate of expected credit losses over the contractual term of our receivables are included within the Significant Accounting Policies footnote of the Notes to Consolidated Financial Statements within our Form 10-K. We do not have any other significant contract assets. Contract liabilities arise when we receive cash or an unconditional right to collect cash prior to the transfer of control of goods or services. The amount of transaction price from contracts with customers allocated to our contract liabilities consists of the following as of the periods presented (in millions): May 31, 2023 August 31, 2022 Current deferred revenues $ 12.9 $ 11.4 Non-current deferred revenues 49.2 53.1 Current deferred revenues primarily consist of software licenses as well as professional service and service-type warranty fees collected prior to performing the related service and are included within Other current liabilities on the Consolidated Balance Sheets . These services are expected to be performed within one year. Revenue recognized from beginning balances of contract liabilities during the nine months ended May 31, 2023 totaled $9.0 million. Non-current deferred revenues primarily consist of long-term service-type warranties, which are typically recognized ratably as revenue between five and ten years from the date of sale, and are included within Other long-term liabilities on the Consolidated Balance Sheets. Unsatisfied performance obligations that do not represent contract liabilities are generally expected to be satisfied within one year from May 31, 2023 and consist primarily of orders for physical goods that have not yet been shipped. Disaggregated Revenues Our ABL segment's lighting and lighting controls are sold primarily through independent sales agents who cover specific geographic areas and market channels, by internal sales representatives, through consumer retail channels, directly to large corporate accounts, and through other distribution methods, including directly to OEM customers. ISG sells predominantly to system integrators. The following table shows revenue from contracts with customers by sales channel and reconciles to our segment information for the periods presented (in millions): Three Months Ended Nine Months Ended May 31, 2023 May 31, 2022 May 31, 2023 May 31, 2022 ABL: Independent sales network $ 686.0 $ 725.9 $ 1,995.0 $ 1,977.0 Direct sales network 103.9 96.1 305.0 269.3 Retail sales 48.0 44.7 148.3 134.3 Corporate accounts 44.4 59.1 147.5 149.7 OEM and other 58.4 82.6 182.8 224.8 Total ABL 940.7 1,008.4 2,778.6 2,755.1 ISG 65.8 58.3 180.8 154.7 Eliminations (6.2) (6.1) (17.6) (14.0) Total $ 1,000.3 $ 1,060.6 $ 2,941.8 $ 2,895.8

Share-based Payments

Share-based Payments	9 Months Ended
Share-based Payments	May 31, 2023
Share-Based Payment Arrangement [Abstract]
Share-based Payments	Share-based Payments We account for share-based payments through the measurement and recognition of compensation expense for share-based payment awards made to employees and directors over the related requisite service period, including restricted stock, performance stock units, and stock options (all part of our equity incentive plan), as well as stock units representing certain deferrals into our director deferred compensation plan or our supplemental deferred savings plan. The following table presents share-based payment expense for the periods presented (in millions): Three Months Ended Nine Months Ended May 31, 2023 May 31, 2022 May 31, 2023 May 31, 2022 Share-based payment expense $ 10.4 $ 9.9 $ 32.4 $ 27.5 We recognized excess tax benefits of $1.7 million and $4.6 million related to share-based payment awards during the nine months ended May 31, 2023 and 2022, respectively. Further details regarding our share-based payments are included within the Share-based Payments footnote of the Notes to Consolidated Financial Statements within our Form 10-K.

Pension Plans

Pension Plans	9 Months Ended
Pension Plans	May 31, 2023
Retirement Benefits [Abstract]
Pension Plans	Pension Plans We have 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. We make at least the minimum annual contributions to the plans to the extent indicated by actuarial valuations and statutory requirements. Plan assets are invested primarily in fixed income and equity securities. Service cost of net periodic pension cost is allocated between Cost of products sold and Selling, distribution, and administrative expenses in the Consolidated Statements of Comprehensive Income based on the nature of the employee's services. All other components of net periodic pension cost are included within Miscellaneous expense, net in the Consolidated Statements of Comprehensive Income . Net periodic pension cost included the following components before tax for the periods presented (in millions): Three Months Ended Nine Months Ended May 31, 2023 May 31, 2022 May 31, 2023 May 31, 2022 Service cost $ 1.1 $ 1.3 $ 3.4 $ 3.7 Interest cost 2.2 1.5 6.7 4.6 Expected return on plan assets (2.3) (3.5) (7.1) (10.4) Amortization of prior service cost 0.7 0.7 2.0 2.1 Recognized actuarial loss 0.8 0.8 2.3 2.6 Net periodic pension cost $ 2.5 $ 0.8 $ 7.3 $ 2.6 Further details regarding our pension plans are included within the Pension and Defined Contribution Plans footnote of the Notes to Consolidated Financial Statements within our Form 10-K.

Special Charges

Special Charges	9 Months Ended
Special Charges	May 31, 2023
Restructuring and Related Activities [Abstract]
Special Charges	Special Charges During the first quarter of fiscal 2023, we recognized $6.9 million within Special charges on the Consolidated Statements of Comprehensive Income primarily for impairments of operating lease right-of-use assets for $4.3 million associated with our previously owned Sunoptics prismatic skylights business that were not transferred in connection with the sale. We additionally recognized associate severance and other costs totaling $2.6 million primarily in connection with the Sunoptics divestiture. We recognized no special charges during the second or third quarter of fiscal 2023.

Earnings Per Share

Earnings Per Share	9 Months Ended
Earnings Per Share	May 31, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share 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. Common stock equivalents are calculated using the treasury stock method. The dilutive effects of share-based payment awards subject to market and/or performance conditions that were not met during the period are excluded from the computation of diluted earnings per share. The following table calculates basic earnings per common share and diluted earnings per common share for the periods presented (in millions, except per share data): Three Months Ended Nine Months Ended May 31, 2023 May 31, 2022 May 31, 2023 May 31, 2022 Net income $ 105.0 $ 105.7 $ 263.1 $ 268.6 Basic weighted average shares outstanding 31.682 34.079 32.006 34.659 Common stock equivalents 0.329 0.361 0.354 0.408 Diluted weighted average shares outstanding 32.011 34.440 32.360 35.067 Basic earnings per share (1) $ 3.31 $ 3.10 $ 8.22 $ 7.75 Diluted earnings per share (1) $ 3.28 $ 3.07 $ 8.13 $ 7.66 _______________________________________ (1) Earnings per share is calculated using unrounded numbers. Amounts in the table may not recalculate exactly due to rounding. The following table presents stock options, performance stock awards, and restricted stock awards that were excluded from the diluted earnings per share calculation for the periods presented as the effect of inclusion would have been antidilutive (in millions): Three Months Ended Nine Months Ended May 31, 2023 May 31, 2022 May 31, 2023 May 31, 2022 Stock options 0.1 0.1 0.1 0.1 Performance stock awards — — — * — Restricted stock awards 0.1 0.1 0.1 0.1 _______________________________________ * Represents shares of less than 0.1 million. Further discussion of our share-based payment awards is included within the Common Stock and Related Matters and Share-based Payments footnotes of the Notes to Consolidated Financial Statements within our Form 10-K.

Comprehensive Income

Comprehensive Income	9 Months Ended
Comprehensive Income	May 31, 2023
Equity [Abstract]
Comprehensive Income	Comprehensive IncomeComprehensive 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. Comprehensive income includes our net income as well as other comprehensive income (loss) items, which are comprised of foreign currency translation and pension adjustments. The following table presents the changes in each component of accumulated other comprehensive income (loss) net of tax during the periods presented (in millions): Foreign Currency Items Defined Benefit Pension Plans Accumulated Other Comprehensive Loss Items Balance at August 31, 2022 $ (73.5) $ (52.3) $ (125.8) Other comprehensive income before reclassifications 2.6 — 2.6 Amounts reclassified from accumulated other comprehensive income (1) — 3.2 3.2 Net current period other comprehensive income 2.6 3.2 5.8 Balance at May 31, 2023 $ (70.9) $ (49.1) $ (120.0) Foreign Currency Items Defined Benefit Pension Plans Accumulated Other Comprehensive Loss Items Balance at August 31, 2021 $ (40.2) $ (58.0) $ (98.2) Other comprehensive loss before reclassifications (8.9) — (8.9) Amounts reclassified from accumulated other comprehensive income (1) — 3.6 3.6 Net current period other comprehensive (loss) income (8.9) 3.6 (5.3) Balance at May 31, 2022 $ (49.1) $ (54.4) $ (103.5) _______________________________________ (1) The before tax amounts of the defined benefit pension plan items are included in net periodic pension cost. See the Pension and Defined Contribution Plans footnote for additional details. The following table summarizes the tax expense or benefit allocated to each component of other comprehensive income (loss) for the periods presented (in millions): Three Months Ended May 31, 2023 May 31, 2022 Before Tax Amount Tax (Expense) Benefit Net of Tax Amount Before Tax Amount Tax (Expense) Benefit Net of Tax Amount Foreign currency translation adjustments $ 5.2 $ — $ 5.2 $ (1.8) $ — $ (1.8) Defined benefit pension plans: Amortization of defined benefit pension items: Prior service cost 0.7 (0.2) 0.5 0.7 (0.1) 0.6 Actuarial losses 0.8 (0.2) 0.6 0.8 (0.2) 0.6 Total defined benefit pension plans, net 1.5 (0.4) 1.1 1.5 (0.3) 1.2 Other comprehensive income (loss) $ 6.7 $ (0.4) $ 6.3 $ (0.3) $ (0.3) $ (0.6) Nine Months Ended May 31, 2023 May 31, 2022 Before Tax Amount Tax (Expense) Benefit Net of Tax Amount Before Tax Amount Tax (Expense) Benefit Net of Tax Amount Foreign currency translation adjustments $ 2.6 $ — $ 2.6 $ (8.9) $ — $ (8.9) Defined benefit pension plans: Amortization of defined benefit pension items: Prior service cost 2.0 (0.5) 1.5 2.1 (0.5) 1.6 Actuarial losses 2.3 (0.6) 1.7 2.6 (0.6) 2.0 Total defined benefit pension plans, net 4.3 (1.1) 3.2 4.7 (1.1) 3.6 Other comprehensive income (loss) $ 6.9 $ (1.1) $ 5.8 $ (4.2) $ (1.1) $ (5.3)

Segment Information

Segment Information	9 Months Ended
Segment Information	May 31, 2023
Segment Reporting [Abstract]
Segment Information	Segment InformationWe report our financial results of operations in two reportable segments, ABL and ISG, consistent with how our chief operating decision maker currently evaluates operating results, assesses performance, and allocates resources within the Company. The accounting policies of our reportable segments are the same as those described in the Significant Accounting Policies footnote of the Notes to Consolidated Financial Statements within our Form 10-K. Corporate expenses that are primarily administrative in function and benefit the Company on an entity-wide basis are not allocated to our segments. These include expenses related to governance, policy setting, compliance, and certain other shared services functions. Beginning in fiscal 2023, we now allocate special charges to operating segment information presented to the chief operating decision maker on a prospective basis. Special charges during the nine months ended May 31, 2023 of $6.9 million pertained to the ABL segment. We recorded no special charges during the three months ended May 31, 2023 or during fiscal 2022. The following table presents financial information by operating segment for the periods presented (in millions): ABL ISG Corporate Eliminations (1) Total Three Months Ended May 31, 2023 Net sales $ 940.7 $ 65.8 $ — $ (6.2) $ 1,000.3 Operating profit (loss) 150.0 8.6 (15.3) — 143.3 Depreciation and amortization 18.1 3.5 0.3 — 21.9 Three Months Ended May 31, 2022 Net sales $ 1,008.4 $ 58.3 $ — $ (6.1) $ 1,060.6 Operating profit (loss) 149.6 9.2 (16.1) — 142.7 Depreciation and amortization 19.6 3.6 0.3 — 23.5 Nine Months Ended May 31, 2023 Net sales $ 2,778.6 $ 180.8 $ — $ (17.6) $ 2,941.8 Operating profit (loss) 391.7 22.7 (50.7) — 363.7 Depreciation and amortization 58.9 10.5 1.0 — 70.4 Nine Months Ended May 31, 2022 Net sales $ 2,755.1 $ 154.7 $ — $ (14.0) $ 2,895.8 Operating profit (loss) 394.2 12.4 (46.5) — 360.1 Depreciation and amortization 59.8 10.8 0.8 — 71.4 ____________________________ (1) This column represents intersegment sales. Profit on these sales eliminates within gross profit on a consolidated basis. The following table reconciles operating profit by segment to income before income taxes (in millions): Three Months Ended Nine Months Ended May 31, 2023 May 31, 2022 May 31, 2023 May 31, 2022 Operating profit - ABL $ 150.0 $ 149.6 $ 391.7 $ 394.2 Operating profit - ISG 8.6 9.2 22.7 12.4 Unallocated corporate amounts (15.3) (16.1) (50.7) (46.5) Operating profit 143.3 142.7 363.7 360.1 Interest expense, net 3.9 6.2 16.2 18.1 Miscellaneous expense (income), net 0.7 (1.5) 6.1 (3.1) Income before income taxes $ 138.7 $ 138.0 $ 341.4 $ 345.1

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
Significant Accounting Policies (Policies)	May 31, 2023
Accounting Policies [Abstract]
ABL Segment and ISG Segment	ABL Segment ABL's portfolio of lighting solutions includes commercial, architectural, and specialty lighting in addition to lighting controls and components that can be combined to create integrated lighting controls systems. We offer devices such as luminaires that predominantly utilize light emitting diode (“LED”) technology designed to optimize energy efficiency and comfort for various indoor and outdoor applications. ABL's portfolio of products includes but is not limited to the following brands: A-Light TM , Aculux TM , American Electric Lighting ® , Cyclone TM , Dark to Light ® , eldoLED ® , Eureka ® , Gotham ® , Healthcare Lighting ® , Holophane ® , Hydrel ® , Indy TM , IOTA ® , Juno ® , Lithonia Lighting ® , Luminaire LED TM , Luminis ® , Mark Architectural Lighting TM , nLight ® , OPTOTRONIC ® , Peerless ® , RELOC ® Wiring Solutions, and Sensor Switch ® . Principal customers of ABL include electrical distributors, retail home improvement centers, electric utilities, national accounts, original equipment manufacturer (“OEM”) customers, digital retailers, lighting showrooms, and energy service companies. Our customers are located in North America and select international markets that serve new construction, renovation and retrofit, and maintenance and repair applications. ABL's lighting and lighting controls solutions are sold primarily through a network of independent sales agencies that cover specific geographic areas and market channels, by internal sales representatives, through consumer retail channels, directly to large corporate accounts, and directly to OEM customers. Products are delivered directly from our manufacturing facilities or through a network of distribution centers, regional warehouses, and commercial warehouses using both common carriers and a company-managed truck fleet. To serve international customers, our sales forces utilize a variety of distribution methods to meet specific individual customer or country requirements. ISG Segment ISG delivers products and services that make spaces smarter, safer, and greener. ISG offers a building management platform and location-aware applications. Our building management solutions include products for controlling heating, ventilation, air conditioning (“HVAC”), lighting, shades, refrigeration, and building access that deliver end-to-end optimization of those building systems. Our Atrius ® intelligent building software enhances the occupant experience, improves building system management, and automates labor intensive tasks while delivering operational energy efficiency and cost reductions. Through a connected and converged building system architecture, our Atrius ® software delivers different applications, allows clients to upgrade over time with natural refresh cycles, and deploys new capabilities through both software and hardware updates. Customers of ISG primarily include system integrators as well as retail stores, airports, and enterprise campuses throughout North America and select international locations. ISG products and solutions are marketed under multiple brand names, including but not limited to Atrius ® , Distech Controls ® , and KE2 Therm Solutions ® .
Basis of Presentation	Basis of Presentation We have prepared the Consolidated Financial Statements in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) to present the financial position, results of operations, and cash flows of Acuity Brands, Inc. 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 our consolidated financial position as of May 31, 2023, our consolidated comprehensive income for the three and nine months ended May 31, 2023 and 2022, and our consolidated cash flows for the nine months ended May 31, 2023 and 2022. Certain information and footnote disclosures normally included in our annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. However, we believe 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 as of and for the three years in the period ended August 31, 2022 and notes thereto included in our Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on October 26, 2022 (File No. 001-16583) (“Form 10-K”). Our business exhibits some seasonality, with net sales being affected by weather and seasonal demand on construction and installation programs, particularly during the winter months, as well as the annual budget cycles of major customers. Historically, with certain exceptions, we have experienced our highest sales in the last two quarters of each fiscal year due to these factors. We do not expect the remainder of fiscal 2023 to follow this historical trend.
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 We may reclassify certain prior period amounts 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 2023 Accounting Standards Update (“ASU”) 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (“ASU 2021-08”) In October 2021, the Financial Accounting Standards Board (the “FASB”) issued ASU 2021-08, which requires companies to recognize and measure contract assets and contract liabilities acquired in a business combination as if the acquiring company originated the related revenue contracts. ASU 2021-08 is effective for fiscal years beginning after December 15, 2022, or our fiscal 2024, with early adoption permitted, including in an interim period. We early adopted ASU 2021-08 as of May 15, 2023 on a prospective basis as permitted by the standard and applied its provisions to the acquisition of KE2 Therm. This standard did not have a material effect on the KE2 Therm acquisition or our financial condition, results of operations, or cash flows. Accounting Standards Yet to Be Adopted ASU 2023-02, Investments—Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method (“ASU 2023-02”) In March 2023, the FASB issued ASU 2023-02, which expands the permitted use of the proportional amortization method of accounting for certain tax-related investments if certain conditions are met. ASU 2023-02 is effective for fiscal years beginning after December 15, 2023, or our fiscal 2025, with early adoption permitted, including in an interim period. As of May 15, 2023, we do not hold any qualifying investments. Therefore, we do not expect ASU 2023-02 to have a material impact on our financial condition, results of operations, or cash flows. All other newly issued accounting pronouncements not yet effective have been deemed either immaterial or not applicable.
Fair Value Measurement	We utilize valuation methodologies to determine the fair values of our 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.
Fair Value Transfers	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.
Revenue Recognition	We recognize revenue when we transfer control of goods and services to our customers. Revenue is measured as the amount of consideration we expect to receive in exchange for goods and services and is recognized net of allowances for rebates, sales incentives, product returns, and discounts to customers. We allocate the expected consideration to be collected to each distinct performance obligation identified in a sale based on its standalone selling price. Sales and use taxes collected on behalf of governmental authorities are excluded from revenues. Further details regarding revenue recognition are included within the Revenue Recognition footnote of the Notes to Consolidated Financial Statements within our Form 10-K. Contract Balances Our rights related to collections from customers are unconditional and are reflected within Accounts receivable on the Consolidated Balance Sheets at net realizable value. Further details regarding our method for developing our estimate of expected credit losses over the contractual term of our receivables are included within the Significant Accounting Policies footnote of the Notes to Consolidated Financial Statements within our Form 10-K. We do not have any other significant contract assets. Contract liabilities arise when we receive cash or an unconditional right to collect cash prior to the transfer of control of goods or services. Current deferred revenues primarily consist of software licenses as well as professional service and service-type warranty fees collected prior to performing the related service and are included within Other current liabilities on the Consolidated Balance Sheets . These services are expected to be performed within one year. Revenue recognized from beginning balances of contract liabilities during the nine months ended May 31, 2023 totaled $9.0 million. Non-current deferred revenues primarily consist of long-term service-type warranties, which are typically recognized ratably as revenue between five and ten years from the date of sale, and are included within Other long-term liabilities on the Unsatisfied performance obligations that do not represent contract liabilities are generally expected to be satisfied within one year from May 31, 2023 and consist primarily of orders for physical goods that have not yet been shipped. Disaggregated Revenues

Inventories (Tables)

Inventories (Tables)	9 Months Ended
Inventories (Tables)	May 31, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories include materials, direct labor, inbound freight, customs, duties, tariffs, and related manufacturing overhead. Inventories are stated on a first-in, first-out basis at the lower of cost and net realizable value and consist of the following as of the dates presented (in millions): May 31, 2023 August 31, 2022 Raw materials, supplies, and work in process (1) $ 231.0 $ 252.6 Finished goods 199.9 264.0 Inventories excluding reserves 430.9 516.6 Less: Reserves (30.4) (30.9) Total inventories $ 400.5 $ 485.7 _______________________________________ (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, we do not believe the segregation of raw materials and work in process is meaningful information.

Property, Plant, and Equipment

Property, Plant, and Equipment (Tables)	9 Months Ended
Property, Plant, and Equipment (Tables)	May 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Property, plant, and equipment consist of the following as of the dates presented (in millions): May 31, 2023 August 31, 2022 Land $ 22.7 $ 22.0 Buildings and leasehold improvements 207.6 202.3 Machinery and equipment 710.2 667.6 Total property, plant, and equipment, at cost 940.5 891.9 Less: Accumulated depreciation and amortization (650.1) (615.4) Property, plant, and equipment, net $ 290.4 $ 276.5

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
Goodwill and Intangible Assets (Tables)	May 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Future Amortization Expense	The following table summarizes the expected amortization expense for the next five fiscal years as of the date presented (in millions): Fiscal Year May 31, 2023 2023 $ 41.9 2024 38.1 2025 30.6 2026 27.9 2027 26.4
Schedule of Goodwill	The following table summarizes the changes in the carrying amount of goodwill by segment during the periods presented (in millions): ABL ISG Total Balance as of August 31, 2022 $ 1,014.2 $ 70.1 $ 1,084.3 Provisional amounts from acquired businesses — 15.2 15.2 Derecognitions for divestitures (0.7) — (0.7) Foreign currency translation adjustments (0.2) (1.9) (2.1) Balance as of May 31, 2023 $ 1,013.3 $ 83.4 $ 1,096.7 ABL ISG Total Balance as of August 31, 2021 $ 1,022.2 $ 72.5 $ 1,094.7 Adjustments to provisional amounts from acquired businesses 0.6 — 0.6 Foreign currency translation adjustments (4.3) (0.1) (4.4) Balance as of May 31, 2022 $ 1,018.5 $ 72.4 $ 1,090.9

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	9 Months Ended
Other Current Liabilities (Tables)	May 31, 2023
Payables and Accruals [Abstract]
Schedule of Other Current Liabilities	Other current liabilities consist of the following as of the dates presented (in millions): May 31, 2023 August 31, 2022 Customer incentive programs (1) $ 23.8 $ 40.7 Refunds to customers (1) 25.2 28.0 Current deferred revenues (1) 12.9 11.4 Sales commissions 31.1 41.9 Freight costs 16.0 22.8 Warranty and recall costs (2) 26.5 22.4 Tax-related items (3) 5.5 13.9 Interest on long-term debt (4) 5.0 2.3 Other 31.6 30.7 Total other current liabilities $ 177.6 $ 214.1 ____________________________________ (1) Refer to the Revenue Recognition footnote of the Notes to Consolidated Financial Statements within our Form 10-K for additional information. (2) Refer to the Commitments and Contingencies footnote of the Notes to Consolidated Financial Statements for additional information. (3) Includes accruals for income, sales and use, and value added taxes. (4) Refer to the Debt and Lines of Credit footnote of the Notes to Consolidated Financial Statements for additional information.

Debt and Lines of Credit (Table

Debt and Lines of Credit (Tables)	9 Months Ended
Debt and Lines of Credit (Tables)	May 31, 2023
Debt Disclosure [Abstract]
Schedule of Components of Interest Expense, Net	The following table summarizes the components of interest expense, net for the periods presented (in millions): Three Months Ended Nine Months Ended May 31, 2023 May 31, 2022 May 31, 2023 May 31, 2022 Interest expense $ 6.3 $ 6.6 $ 21.8 $ 19.2 Interest income (2.4) (0.4) (5.6) (1.1) Interest expense, net $ 3.9 $ 6.2 $ 16.2 $ 18.1

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
Commitments and Contingencies (Tables)	May 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Product Warranty Liability	Nine Months Ended May 31, 2023 May 31, 2022 Beginning balance $ 27.3 $ 20.3 Warranty and recall costs 36.1 21.4 Payments and other deductions (32.2) (21.3) Ending balance $ 31.2 $ 20.4

Changes in Stockholders' Equi_2

Changes in Stockholders' Equity (Tables)	9 Months Ended
Changes in Stockholders' Equity (Tables)	May 31, 2023
Equity [Abstract]
Schedule of Changes in Stockholders' Equity	The following tables summarize changes in the components of stockholders' equity for the periods presented (in millions): Common Stock Outstanding Shares Amount Paid-in Retained Accumulated Other Treasury Total Balance, August 31, 2022 32.5 $ 0.5 $ 1,036.3 $ 3,176.2 $ (125.8) $ (2,175.4) $ 1,911.8 Net income — — — 74.9 — — 74.9 Other comprehensive loss — — — — (0.4) — (0.4) Share-based payment amortization, issuances, and cancellations 0.2 — (1.8) — — — (1.8) Employee stock purchase plan issuances — — 0.5 — — — 0.5 Cash dividends of $0.13 per share paid on common stock — — — (4.3) — — (4.3) Stock options exercised — — 0.4 — — — 0.4 Repurchases of common stock (0.5) — — — — (77.6) (77.6) Balance, November 30, 2022 32.2 0.5 1,035.4 3,246.8 (126.2) (2,253.0) 1,903.5 Net income — — — 83.2 — — 83.2 Other comprehensive loss — — — — (0.1) — (0.1) Share-based payment amortization, issuances, and cancellations — — 10.9 — — — 10.9 Employee stock purchase plan issuances — — 0.3 — — — 0.3 Cash dividends of $0.13 per share paid on common stock — — — (4.2) — — (4.2) Stock options exercised — — 0.5 — — — 0.5 Repurchases of common stock (0.2) — — — — (46.5) (46.5) Balance, February 28, 2023 32.0 0.5 1,047.1 3,325.8 (126.3) (2,299.5) 1,947.6 Net income — — — 105.0 — — 105.0 Other comprehensive income — — — — 6.3 — 6.3 Share-based payment amortization, issuances, and cancellations — — 9.4 — — — 9.4 Employee stock purchase plan issuances — — 0.4 — — — 0.4 Cash dividends of $0.13 per share paid on common stock — — — (4.2) — — (4.2) Repurchases of common stock (0.6) — — — — (94.7) (94.7) Balance, May 31, 2023 31.4 $ 0.5 $ 1,056.9 $ 3,426.6 $ (120.0) $ (2,394.2) $ 1,969.8 Common Stock Outstanding Shares Amount Paid-in Retained Accumulated Other Treasury Total Balance, August 31, 2021 35.2 $ 0.5 $ 995.6 $ 2,810.3 $ (98.2) $ (1,663.7) $ 2,044.5 Net income — — — 87.6 — — 87.6 Other comprehensive loss — — — — (10.7) — (10.7) Share-based payment amortization, issuances, and cancellations 0.1 — 0.4 — — — 0.4 Employee stock purchase plan issuances — — 0.6 — — — 0.6 Cash dividends of $0.13 per share paid on common stock — — — (4.7) — — (4.7) Stock options exercised 0.1 — 8.0 — — — 8.0 Repurchases of common stock (0.3) — — — — (52.8) (52.8) Balance, November 30, 2021 35.1 0.5 1,004.6 2,893.2 (108.9) (1,716.5) 2,072.9 Net income — — — 75.3 — — 75.3 Other comprehensive income — — — — 6.0 — 6.0 Share-based payment amortization, issuances, and cancellations — — 9.4 — — — 9.4 Employee stock purchase plan issuances — — 0.4 — — — 0.4 Cash dividends of $0.13 per share paid on common stock — — — (4.6) — — (4.6) Stock options exercised — — 1.2 — — — 1.2 Repurchases of common stock (0.3) — — — — (56.3) (56.3) Balance, February 28, 2022 34.8 0.5 1,015.6 2,963.9 (102.9) (1,772.8) 2,104.3 Net income — — — 105.7 — — 105.7 Other comprehensive loss — — — — (0.6) — (0.6) Share-based payment amortization, issuances, and cancellations — — 9.2 — — — 9.2 Employee stock purchase plan issuances — — 0.4 — — — 0.4 Cash dividends of $0.13 per share paid on common stock — — — (4.4) — — (4.4) Repurchases of common stock (1.7) — — — — (296.0) (296.0) Balance, May 31, 2022 33.1 $ 0.5 $ 1,025.2 $ 3,065.2 $ (103.5) $ (2,068.8) $ 1,918.6

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
Revenue Recognition (Tables)	May 31, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Amount of Transaction Price From Contracts With Customers Allocated To The Company's Contract Liabilities	The amount of transaction price from contracts with customers allocated to our contract liabilities consists of the following as of the periods presented (in millions): May 31, 2023 August 31, 2022 Current deferred revenues $ 12.9 $ 11.4 Non-current deferred revenues 49.2 53.1
Schedule of Revenue From Contracts With Customers By Sales Channel	The following table shows revenue from contracts with customers by sales channel and reconciles to our segment information for the periods presented (in millions): Three Months Ended Nine Months Ended May 31, 2023 May 31, 2022 May 31, 2023 May 31, 2022 ABL: Independent sales network $ 686.0 $ 725.9 $ 1,995.0 $ 1,977.0 Direct sales network 103.9 96.1 305.0 269.3 Retail sales 48.0 44.7 148.3 134.3 Corporate accounts 44.4 59.1 147.5 149.7 OEM and other 58.4 82.6 182.8 224.8 Total ABL 940.7 1,008.4 2,778.6 2,755.1 ISG 65.8 58.3 180.8 154.7 Eliminations (6.2) (6.1) (17.6) (14.0) Total $ 1,000.3 $ 1,060.6 $ 2,941.8 $ 2,895.8

Share-based Payments (Tables)

Share-based Payments (Tables)	9 Months Ended
Share-based Payments (Tables)	May 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Components of Share-Based Payment Expense	The following table presents share-based payment expense for the periods presented (in millions): Three Months Ended Nine Months Ended May 31, 2023 May 31, 2022 May 31, 2023 May 31, 2022 Share-based payment expense $ 10.4 $ 9.9 $ 32.4 $ 27.5

Pension Plans (Tables)

Pension Plans (Tables)	9 Months Ended
Pension Plans (Tables)	May 31, 2023
Retirement Benefits [Abstract]
Schedule of Net Periodic Pension Cost	Net periodic pension cost included the following components before tax for the periods presented (in millions): Three Months Ended Nine Months Ended May 31, 2023 May 31, 2022 May 31, 2023 May 31, 2022 Service cost $ 1.1 $ 1.3 $ 3.4 $ 3.7 Interest cost 2.2 1.5 6.7 4.6 Expected return on plan assets (2.3) (3.5) (7.1) (10.4) Amortization of prior service cost 0.7 0.7 2.0 2.1 Recognized actuarial loss 0.8 0.8 2.3 2.6 Net periodic pension cost $ 2.5 $ 0.8 $ 7.3 $ 2.6

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
Earnings Per Share (Tables)	May 31, 2023
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 periods presented (in millions, except per share data): Three Months Ended Nine Months Ended May 31, 2023 May 31, 2022 May 31, 2023 May 31, 2022 Net income $ 105.0 $ 105.7 $ 263.1 $ 268.6 Basic weighted average shares outstanding 31.682 34.079 32.006 34.659 Common stock equivalents 0.329 0.361 0.354 0.408 Diluted weighted average shares outstanding 32.011 34.440 32.360 35.067 Basic earnings per share (1) $ 3.31 $ 3.10 $ 8.22 $ 7.75 Diluted earnings per share (1) $ 3.28 $ 3.07 $ 8.13 $ 7.66 _______________________________________ (1) Earnings per share is calculated using unrounded numbers. Amounts in the table may not recalculate exactly due to rounding.
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table presents stock options, performance stock awards, and restricted stock awards that were excluded from the diluted earnings per share calculation for the periods presented as the effect of inclusion would have been antidilutive (in millions): Three Months Ended Nine Months Ended May 31, 2023 May 31, 2022 May 31, 2023 May 31, 2022 Stock options 0.1 0.1 0.1 0.1 Performance stock awards — — — * — Restricted stock awards 0.1 0.1 0.1 0.1 _______________________________________ * Represents shares of less than 0.1 million.

Comprehensive Income (Tables)

Comprehensive Income (Tables)	9 Months Ended
Comprehensive Income (Tables)	May 31, 2023
Equity [Abstract]
Schedule of Changes in Each Component of Accumulated Other Comprehensive Loss	The following table presents the changes in each component of accumulated other comprehensive income (loss) net of tax during the periods presented (in millions): Foreign Currency Items Defined Benefit Pension Plans Accumulated Other Comprehensive Loss Items Balance at August 31, 2022 $ (73.5) $ (52.3) $ (125.8) Other comprehensive income before reclassifications 2.6 — 2.6 Amounts reclassified from accumulated other comprehensive income (1) — 3.2 3.2 Net current period other comprehensive income 2.6 3.2 5.8 Balance at May 31, 2023 $ (70.9) $ (49.1) $ (120.0) Foreign Currency Items Defined Benefit Pension Plans Accumulated Other Comprehensive Loss Items Balance at August 31, 2021 $ (40.2) $ (58.0) $ (98.2) Other comprehensive loss before reclassifications (8.9) — (8.9) Amounts reclassified from accumulated other comprehensive income (1) — 3.6 3.6 Net current period other comprehensive (loss) income (8.9) 3.6 (5.3) Balance at May 31, 2022 $ (49.1) $ (54.4) $ (103.5) _______________________________________ (1) The before tax amounts of the defined benefit pension plan items are included in net periodic pension cost. See the Pension and Defined Contribution Plans footnote for additional details.
Schedule of Tax Expense or Benefit Allocated to Each Component of Other Comprehensive Income (Loss)	The following table summarizes the tax expense or benefit allocated to each component of other comprehensive income (loss) for the periods presented (in millions): Three Months Ended May 31, 2023 May 31, 2022 Before Tax Amount Tax (Expense) Benefit Net of Tax Amount Before Tax Amount Tax (Expense) Benefit Net of Tax Amount Foreign currency translation adjustments $ 5.2 $ — $ 5.2 $ (1.8) $ — $ (1.8) Defined benefit pension plans: Amortization of defined benefit pension items: Prior service cost 0.7 (0.2) 0.5 0.7 (0.1) 0.6 Actuarial losses 0.8 (0.2) 0.6 0.8 (0.2) 0.6 Total defined benefit pension plans, net 1.5 (0.4) 1.1 1.5 (0.3) 1.2 Other comprehensive income (loss) $ 6.7 $ (0.4) $ 6.3 $ (0.3) $ (0.3) $ (0.6) Nine Months Ended May 31, 2023 May 31, 2022 Before Tax Amount Tax (Expense) Benefit Net of Tax Amount Before Tax Amount Tax (Expense) Benefit Net of Tax Amount Foreign currency translation adjustments $ 2.6 $ — $ 2.6 $ (8.9) $ — $ (8.9) Defined benefit pension plans: Amortization of defined benefit pension items: Prior service cost 2.0 (0.5) 1.5 2.1 (0.5) 1.6 Actuarial losses 2.3 (0.6) 1.7 2.6 (0.6) 2.0 Total defined benefit pension plans, net 4.3 (1.1) 3.2 4.7 (1.1) 3.6 Other comprehensive income (loss) $ 6.9 $ (1.1) $ 5.8 $ (4.2) $ (1.1) $ (5.3)

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
Segment Information (Tables)	May 31, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following table presents financial information by operating segment for the periods presented (in millions): ABL ISG Corporate Eliminations (1) Total Three Months Ended May 31, 2023 Net sales $ 940.7 $ 65.8 $ — $ (6.2) $ 1,000.3 Operating profit (loss) 150.0 8.6 (15.3) — 143.3 Depreciation and amortization 18.1 3.5 0.3 — 21.9 Three Months Ended May 31, 2022 Net sales $ 1,008.4 $ 58.3 $ — $ (6.1) $ 1,060.6 Operating profit (loss) 149.6 9.2 (16.1) — 142.7 Depreciation and amortization 19.6 3.6 0.3 — 23.5 Nine Months Ended May 31, 2023 Net sales $ 2,778.6 $ 180.8 $ — $ (17.6) $ 2,941.8 Operating profit (loss) 391.7 22.7 (50.7) — 363.7 Depreciation and amortization 58.9 10.5 1.0 — 70.4 Nine Months Ended May 31, 2022 Net sales $ 2,755.1 $ 154.7 $ — $ (14.0) $ 2,895.8 Operating profit (loss) 394.2 12.4 (46.5) — 360.1 Depreciation and amortization 59.8 10.8 0.8 — 71.4 ____________________________ (1) This column represents intersegment sales. Profit on these sales eliminates within gross profit on a consolidated basis.
Schedule of Reconciliation of Operating Profit (Loss) from Segments to Consolidated	The following table reconciles operating profit by segment to income before income taxes (in millions): Three Months Ended Nine Months Ended May 31, 2023 May 31, 2022 May 31, 2023 May 31, 2022 Operating profit - ABL $ 150.0 $ 149.6 $ 391.7 $ 394.2 Operating profit - ISG 8.6 9.2 22.7 12.4 Unallocated corporate amounts (15.3) (16.1) (50.7) (46.5) Operating profit 143.3 142.7 363.7 360.1 Interest expense, net 3.9 6.2 16.2 18.1 Miscellaneous expense (income), net 0.7 (1.5) 6.1 (3.1) Income before income taxes $ 138.7 $ 138.0 $ 341.4 $ 345.1

Description of Business and B_2

Description of Business and Basis of Presentation (Details)	9 Months Ended
Description of Business and Basis of Presentation (Details)	May 31, 2023 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	2

Acquisitions and Divestitures (

Acquisitions and Divestitures (Details) $ in Millions		1 Months Ended	9 Months Ended		12 Months Ended
Acquisitions and Divestitures (Details) $ in Millions	May 15, 2023 USD ($)	Nov. 30, 2022 USD ($)	May 31, 2023 USD ($)	May 31, 2022 USD ($)	Aug. 31, 2022 USD ($) acquisition	Oct. 30, 2022 USD ($)	Aug. 31, 2021 USD ($)
Business Combination and Asset Acquisition [Abstract]
Number of acquisitions completed \| acquisition					0
Cash outflow				$ (12.2)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill			$ 1,096.7	1,090.9	$ 1,084.3		$ 1,094.7
Preliminary goodwill			15.2
Pre-tax loss on the sale			11.2	0
ISG
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill			83.4	$ 72.4	$ 70.1		$ 72.5
Preliminary goodwill			$ 15.2
KE2 Therm Solutions, Inc
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill	$ 15.2
Identified intangible assets	$ 18
Weighted average amortization period in years	15 years
Sunoptics Prismatic Skylights Business \| Disposal Group, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets transferred						$ 15.1
Pre-tax loss on the sale		$ 11.2

Fair Value Measurements (Detail

Fair Value Measurements (Details) $ in Millions	3 Months Ended
Fair Value Measurements (Details) $ in Millions	Feb. 28, 2023 investment	May 31, 2023 USD ($)	Aug. 31, 2022 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents		$ 359.3	$ 223.2
Number of strategic investments whose underlying Company was acquired by a third party \| investment	1
Short-term borrowings outstanding		0	18
Line of Credit \| Credit facility \| The Credit Agreement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term borrowings outstanding		0	18
Approximate fair value of short term borrowings		0	18
Reported Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments		9.5	11.9
Estimate of Fair Value Measurement \| Unsecured debt \| 2.150% Senior Unsecured Notes Due December 2030
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying and estimated fair values of financial instruments		$ 401.4	$ 399.2

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	May 31, 2023	Aug. 31, 2022
Inventory, Net [Abstract]
Raw materials, supplies, and work in process	$ 231	$ 252.6
Finished goods	199.9	264
Inventories excluding reserves	430.9	516.6
Less: Reserves	(30.4)	(30.9)
Total inventories	$ 400.5	$ 485.7

Property, Plant, and Equipmen_2

Property, Plant, and Equipment - Schedule of Property, Plant, and Equipment (Details) - USD ($) $ in Millions	May 31, 2023	Aug. 31, 2022
Property, Plant and Equipment [Line Items]
Total property, plant, and equipment, at cost	$ 940.5	$ 891.9
Less: Accumulated depreciation and amortization	(650.1)	(615.4)
Property, plant, and equipment, net	290.4	276.5
Land
Property, Plant and Equipment [Line Items]
Total property, plant, and equipment, at cost	22.7	22
Buildings and leasehold improvements
Property, Plant and Equipment [Line Items]
Total property, plant, and equipment, at cost	207.6	202.3
Machinery and equipment
Property, Plant and Equipment [Line Items]
Total property, plant, and equipment, at cost	$ 710.2	$ 667.6

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	May 31, 2023	May 31, 2022	May 31, 2023	May 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 9.2	$ 10.2	$ 32.1	$ 30.8
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Amortization expense in fiscal 2023	41.9		41.9
Amortization expense in fiscal 2024	38.1		38.1
Amortization expense in fiscal 2025	30.6		30.6
Amortization expense in fiscal 2026	27.9		27.9
Amortization expense in fiscal 2027	$ 26.4		$ 26.4

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Changes in Goodwill (Details) - USD ($) $ in Millions	9 Months Ended
	May 31, 2023	May 31, 2022
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 1,084.3	$ 1,094.7
Provisional amounts from acquired businesses	15.2
Derecognitions for divestitures	(0.7)
Adjustments to provisional amounts from acquired businesses		0.6
Foreign currency translation adjustments	(2.1)	(4.4)
Goodwill, ending balance	1,096.7	1,090.9
ABL
Goodwill [Roll Forward]
Goodwill, beginning balance	1,014.2	1,022.2
Derecognitions for divestitures	(0.7)
Adjustments to provisional amounts from acquired businesses		0.6
Foreign currency translation adjustments	(0.2)	(4.3)
Goodwill, ending balance	1,013.3	1,018.5
ISG
Goodwill [Roll Forward]
Goodwill, beginning balance	70.1	72.5
Provisional amounts from acquired businesses	15.2
Derecognitions for divestitures	0
Adjustments to provisional amounts from acquired businesses		0
Foreign currency translation adjustments	(1.9)	(0.1)
Goodwill, ending balance	83.4	$ 72.4
Acuity Brands Lighting, Inc.
Goodwill [Roll Forward]
Provisional amounts from acquired businesses	$ 0

Other Current Liabilities (Deta

Other Current Liabilities (Details) - USD ($) $ in Millions	May 31, 2023	Aug. 31, 2022
Payables and Accruals [Abstract]
Customer incentive programs	$ 23.8	$ 40.7
Refunds to customers	25.2	28
Current deferred revenues	12.9	11.4
Sales commissions	31.1	41.9
Freight costs	16	22.8
Warranty and recall costs	26.5	22.4
Tax-related items	5.5	13.9
Interest on long-term debt	5	2.3
Other	31.6	30.7
Total other current liabilities	$ 177.6	$ 214.1

Debt and Lines of Credit (Detai

Debt and Lines of Credit (Details)			3 Months Ended		9 Months Ended
Debt and Lines of Credit (Details)	Jun. 30, 2022 USD ($)	Nov. 10, 2020 USD ($)	May 31, 2023 USD ($)	May 31, 2022 USD ($)	May 31, 2023 USD ($)	May 31, 2022 USD ($)	Aug. 31, 2022 USD ($)
Line of Credit Facility [Abstract]
Short-term borrowings outstanding			$ 0		$ 0		$ 18,000,000
Interest Revenue (Expense), Net [Abstract]
Interest expense			6,300,000	$ 6,600,000	21,800,000	$ 19,200,000
Interest income			(2,400,000)	(400,000)	(5,600,000)	(1,100,000)
Interest expense, net			3,900,000	$ 6,200,000	16,200,000	$ 18,100,000
Unsecured debt \| 2.150% Senior Unsecured Notes Due December 2030 \| Acuity Brands Lighting, Inc.
Line of Credit Facility [Abstract]
Aggregate principal amount		$ 500,000,000
Interest rate (as percent)		2.15%
Debt issuance price as a percentage of face value (as percent)		99.737%
Deferred issuance costs		$ 4,800,000
Term of instrument		10 years
Line of Credit \| The Credit Agreement \| Credit facility
Line of Credit Facility [Abstract]
Term of instrument	5 years
Executed revolving credit facility	$ 600,000,000
Line of credit facility, additional borrowing capacity	$ 400,000,000
Short-term borrowings outstanding			0		0		$ 18,000,000
Maximum leverage ratio	3.75
Temporary maximum leverage ratio allowed in the event of a significant acquisition	4.25
Additional borrowing capacity under revolving credit facility			596,200,000		596,200,000
Line of Credit \| The Credit Agreement \| Credit facility \| Minimum
Line of Credit Facility [Abstract]
Facility fee (as percent)	0.075%
Line of Credit \| The Credit Agreement \| Credit facility \| Maximum
Line of Credit Facility [Abstract]
Facility fee (as percent)	0.175%
Line of Credit \| The Credit Agreement \| Credit facility \| Base Rate \| Minimum
Line of Credit Facility [Abstract]
Applicable margins based on company's leverage ratio, percentage	0.80%
Line of Credit \| The Credit Agreement \| Credit facility \| Base Rate \| Maximum
Line of Credit Facility [Abstract]
Applicable margins based on company's leverage ratio, percentage	1.20%
Line of Credit \| The Credit Agreement \| Credit facility \| Floating Rate \| Minimum
Line of Credit Facility [Abstract]
Applicable margins based on company's leverage ratio, percentage	0%
Line of Credit \| The Credit Agreement \| Credit facility \| Floating Rate \| Maximum
Line of Credit Facility [Abstract]
Applicable margins based on company's leverage ratio, percentage	0.20%
Letters of Credit \| The Credit Agreement \| Credit facility
Line of Credit Facility [Abstract]
Outstanding letters of credit			$ 3,800,000		$ 3,800,000

Commitments and Contingencies_2

Commitments and Contingencies (Details) $ in Millions		9 Months Ended
Commitments and Contingencies (Details) $ in Millions	Feb. 25, 2023 former_associate	May 31, 2023 USD ($)	May 31, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Standard warranty term		5 years
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning balance		$ 27.3	$ 20.3
Warranty and recall costs		36.1	21.4
Payments and other deductions		(32.2)	(21.3)
Ending balance		$ 31.2	$ 20.4
Putative Class Action Complaint
Loss Contingencies [Line Items]
Number of former associates \| former_associate	2

Changes in Stockholders' Equi_3

Changes in Stockholders' Equity (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended						9 Months Ended
	May 31, 2023	Feb. 28, 2023	Nov. 30, 2022	May 31, 2022	Feb. 28, 2022	Nov. 30, 2021	May 31, 2023	May 31, 2022
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 1,947.6	$ 1,903.5	$ 1,911.8	$ 2,104.3	$ 2,072.9	$ 2,044.5	$ 1,911.8	$ 2,044.5
Net income	105	83.2	74.9	105.7	75.3	87.6	263.1	268.6
Other comprehensive income (loss)	6.3	(0.1)	(0.4)	(0.6)	6	(10.7)	5.8	(5.3)
Share-based payment amortization, issuances, and cancellations	9.4	10.9	(1.8)	9.2	9.4	0.4
Employee stock purchase plan issuances	0.4	0.3	0.5	0.4	0.4	0.6
Cash dividends of $0.13 per share paid on common stock	(4.2)	(4.2)	(4.3)	(4.4)	(4.6)	(4.7)
Stock options exercised		0.5	0.4		1.2	8
Repurchases of common stock	(94.7)	(46.5)	(77.6)	(296)	(56.3)	(52.8)
Ending balance	$ 1,969.8	$ 1,947.6	$ 1,903.5	$ 1,918.6	$ 2,104.3	$ 2,072.9	$ 1,969.8	$ 1,918.6
Cash dividends paid (in usd per share)	$ 0.13	$ 0.13	$ 0.13	$ 0.13	$ 0.13	$ 0.13
Common Stock Outstanding
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	32	32.2	32.5	34.8	35.1	35.2	32.5	35.2
Beginning balance	$ 0.5	$ 0.5	$ 0.5	$ 0.5	$ 0.5	$ 0.5	$ 0.5	$ 0.5
Share-based payment amortization, issuances, and cancellations (in shares)			0.2	0	0	0.1
Stock options exercised (in shares)			0			0.1
Repurchases of common stock (in shares)	(0.6)	(0.2)	(0.5)	(1.7)	(0.3)	(0.3)
Ending balance (in shares)	31.4	32	32.2	33.1	34.8	35.1	31.4	33.1
Ending balance	$ 0.5	$ 0.5	$ 0.5	$ 0.5	$ 0.5	$ 0.5	$ 0.5	$ 0.5
Paid-in Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	1,047.1	1,035.4	1,036.3	1,015.6	1,004.6	995.6	1,036.3	995.6
Share-based payment amortization, issuances, and cancellations	9.4	10.9	(1.8)	9.2	9.4	0.4
Employee stock purchase plan issuances	0.4	0.3	0.5	0.4	0.4	0.6
Stock options exercised		0.5	0.4		1.2	8
Ending balance	1,056.9	1,047.1	1,035.4	1,025.2	1,015.6	1,004.6	1,056.9	1,025.2
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	3,325.8	3,246.8	3,176.2	2,963.9	2,893.2	2,810.3	3,176.2	2,810.3
Net income	105	83.2	74.9	105.7	75.3	87.6
Cash dividends of $0.13 per share paid on common stock	(4.2)	(4.2)	(4.3)	(4.4)	(4.6)	(4.7)
Ending balance	3,426.6	3,325.8	3,246.8	3,065.2	2,963.9	2,893.2	3,426.6	3,065.2
Accumulated Other Comprehensive Loss
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(126.3)	(126.2)	(125.8)	(102.9)	(108.9)	(98.2)	(125.8)	(98.2)
Other comprehensive income (loss)	6.3	(0.1)	(0.4)	(0.6)	6	(10.7)
Ending balance	(120)	(126.3)	(126.2)	(103.5)	(102.9)	(108.9)	(120)	(103.5)
Treasury Stock, at cost
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(2,299.5)	(2,253)	(2,175.4)	(1,772.8)	(1,716.5)	(1,663.7)	(2,175.4)	(1,663.7)
Repurchases of common stock	(94.7)	(46.5)	(77.6)	(296)	(56.3)	(52.8)
Ending balance	$ (2,394.2)	$ (2,299.5)	$ (2,253)	$ (2,068.8)	$ (1,772.8)	$ (1,716.5)	$ (2,394.2)	$ (2,068.8)

Revenue Recognition - Contract

Revenue Recognition - Contract Balances (Details) - USD ($) $ in Millions	May 31, 2023	Aug. 31, 2022
Revenue from Contract with Customer [Abstract]
Current deferred revenues	$ 12.9	$ 11.4
Non-current deferred revenues	$ 49.2	$ 53.1

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) $ in Millions	9 Months Ended
Revenue Recognition - Narrative (Details) $ in Millions	May 31, 2023 USD ($)
Revenue from Contract with Customer [Abstract]
Timing of revenue recognition	Current deferred revenues primarily consist of software licenses as well as professional service and service-type warranty fees collected prior to performing the related service and are included within Other current liabilities on the Consolidated Balance Sheets. These services are expected to be performed within one year. Revenue recognized from beginning balances of contract liabilities during the nine months ended May 31, 2023 totaled $9.0 million.Non-current deferred revenues primarily consist of long-term service-type warranties, which are typically recognized ratably as revenue between five and ten years from the date of sale, and are included within Other long-term liabilities on the Consolidated Balance Sheets.
Revenue recognized from beginning balances of contract liabilities	$ 9

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregated Revenues (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	May 31, 2023	May 31, 2022	May 31, 2023	May 31, 2022
Disaggregation of Revenue [Line Items]
Total sales	$ 1,000.3	$ 1,060.6	$ 2,941.8	$ 2,895.8
Operating Segments \| ABL
Disaggregation of Revenue [Line Items]
Total sales	940.7	1,008.4	2,778.6	2,755.1
Operating Segments \| ISG
Disaggregation of Revenue [Line Items]
Total sales	65.8	58.3	180.8	154.7
Eliminations
Disaggregation of Revenue [Line Items]
Total sales	(6.2)	(6.1)	(17.6)	(14)
Independent sales network \| Operating Segments \| ABL
Disaggregation of Revenue [Line Items]
Total sales	686	725.9	1,995	1,977
Direct sales network \| Operating Segments \| ABL
Disaggregation of Revenue [Line Items]
Total sales	103.9	96.1	305	269.3
Retail sales \| Operating Segments \| ABL
Disaggregation of Revenue [Line Items]
Total sales	48	44.7	148.3	134.3
Corporate accounts \| Operating Segments \| ABL
Disaggregation of Revenue [Line Items]
Total sales	44.4	59.1	147.5	149.7
OEM and other \| Operating Segments \| ABL
Disaggregation of Revenue [Line Items]
Total sales	$ 58.4	$ 82.6	$ 182.8	$ 224.8

Share-based Payments (Details)

Share-based Payments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Share-based Payments (Details) - USD ($) $ in Millions	May 31, 2023	May 31, 2022	May 31, 2023	May 31, 2022
Share-Based Payment Arrangement [Abstract]
Share-based payment expense	$ 10.4	$ 9.9	$ 32.4	$ 27.5

Share-based Payments - Narrativ

Share-based Payments - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	May 31, 2023	May 31, 2022
Share-Based Payment Arrangement [Abstract]
Share-based payment arrangement, expense, tax benefit	$ 1.7	$ 4.6

Pension Plans (Details)

Pension Plans (Details) - Pension Plan - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	May 31, 2023	May 31, 2022	May 31, 2023	May 31, 2022
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 1.1	$ 1.3	$ 3.4	$ 3.7
Interest cost	2.2	1.5	6.7	4.6
Expected return on plan assets	(2.3)	(3.5)	(7.1)	(10.4)
Amortization of prior service cost	0.7	0.7	2	2.1
Recognized actuarial loss	0.8	0.8	2.3	2.6
Net periodic pension cost	$ 2.5	$ 0.8	$ 7.3	$ 2.6

Special Charges (Details)

Special Charges (Details) - USD ($) $ in Millions	3 Months Ended				9 Months Ended
Special Charges (Details) - USD ($) $ in Millions	May 31, 2023	Feb. 28, 2023	Nov. 30, 2022	May 31, 2022	May 31, 2023	May 31, 2022
Restructuring Cost and Reserve [Line Items]
Special charges	$ 0	$ 0	$ 6.9	$ 0	$ 6.9	$ 0
Operating lease, impairment loss			4.3
Employee Severance and Other Costs
Restructuring Cost and Reserve [Line Items]
Special charges			$ 2.6

Earnings Per Share - Basic and

Earnings Per Share - Basic and Diluted Earnings Per Share, Treasury Stock Method (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions		3 Months Ended						9 Months Ended
		May 31, 2023	Feb. 28, 2023	Nov. 30, 2022	May 31, 2022	Feb. 28, 2022	Nov. 30, 2021	May 31, 2023	May 31, 2022
Earnings Per Share [Abstract]
Net income		$ 105	$ 83.2	$ 74.9	$ 105.7	$ 75.3	$ 87.6	$ 263.1	$ 268.6
Basic weighted average shares outstanding (in shares)	[1]	31,682			34,079			32,006	34,659
Common stock equivalents (in shares)		329			361			354	408
Diluted weighted average shares outstanding (in shares)	[1]	32,011			34,440			32,360	35,067
Basic earnings per share (in dollars per share)	[1]	$ 3.31			$ 3.10			$ 8.22	$ 7.75
Diluted earnings per share (in dollars per share)	[1]	$ 3.28			$ 3.07			$ 8.13	$ 7.66

[1]Earnings per share is calculated using unrounded numbers. Amounts in the table may not recalculate exactly due to rounding.

Earnings Per Share - Antidiluti

Earnings Per Share - Antidilutive Securities Excluded from EPS Computation (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	May 31, 2023	May 31, 2022	May 31, 2023	May 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Awards excluded from diluted earnings per share, (less than) (in shares)	0.1		0.1
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Awards excluded from diluted earnings per share, (less than) (in shares)	0.1	0.1	0.1	0.1
Performance stock awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Awards excluded from diluted earnings per share, (less than) (in shares)	0	0	0	0
Restricted stock awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Awards excluded from diluted earnings per share, (less than) (in shares)	0.1	0.1	0.1	0.1

Comprehensive Income - Changes

Comprehensive Income - Changes in Components of Accumulated Other Comprehensive Income (Loss) Items (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	May 31, 2023	Feb. 28, 2023	Nov. 30, 2022	May 31, 2022	Feb. 28, 2022	Nov. 30, 2021	May 31, 2023	May 31, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ 1,947.6	$ 1,903.5	$ 1,911.8	$ 2,104.3	$ 2,072.9	$ 2,044.5	$ 1,911.8	$ 2,044.5
Other comprehensive income (loss) before reclassifications							2.6	(8.9)
Amounts reclassified from accumulated other comprehensive income							3.2	3.6
Net current period other comprehensive (loss) income	6.3	(0.1)	(0.4)	(0.6)	6	(10.7)	5.8	(5.3)
Ending balance	1,969.8	1,947.6	1,903.5	1,918.6	2,104.3	2,072.9	1,969.8	1,918.6
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(126.3)	(126.2)	(125.8)	(102.9)	(108.9)	(98.2)	(125.8)	(98.2)
Net current period other comprehensive (loss) income	6.3	(0.1)	(0.4)	(0.6)	6	(10.7)
Ending balance	(120)	$ (126.3)	(126.2)	(103.5)	$ (102.9)	(108.9)	(120)	(103.5)
Foreign Currency Items
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance			(73.5)			(40.2)	(73.5)	(40.2)
Other comprehensive income (loss) before reclassifications							2.6	(8.9)
Amounts reclassified from accumulated other comprehensive income							0	0
Net current period other comprehensive (loss) income							2.6	(8.9)
Ending balance	(70.9)			(49.1)			(70.9)	(49.1)
Defined Benefit Pension Plans
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance			$ (52.3)			$ (58)	(52.3)	(58)
Other comprehensive income (loss) before reclassifications							0	0
Amounts reclassified from accumulated other comprehensive income							3.2	3.6
Net current period other comprehensive (loss) income							3.2	3.6
Ending balance	$ (49.1)			$ (54.4)			$ (49.1)	$ (54.4)

Comprehensive Income - Tax Amou

Comprehensive Income - Tax Amounts Allocated to Components of Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	May 31, 2023	May 31, 2022	May 31, 2023	May 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive (loss) income, before tax	$ 6.7	$ (0.3)	$ 6.9	$ (4.2)
Other comprehensive (loss) income, tax (expense) benefit	(0.4)	(0.3)	(1.1)	(1.1)
Other comprehensive income (loss) items, net of tax	6.3	(0.6)	5.8	(5.3)
Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive (loss) income, before tax	5.2	(1.8)	2.6	(8.9)
Other comprehensive (loss) income, tax (expense) benefit	0	0	0	0
Other comprehensive income (loss) items, net of tax	5.2	(1.8)	2.6	(8.9)
Prior service cost
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amortization of defined benefit pension items, before tax	0.7	0.7	2	2.1
Amortization of defined benefit pension items, tax (expense) benefit	(0.2)	(0.1)	(0.5)	(0.5)
Amortization of defined benefit pension items, net of tax	0.5	0.6	1.5	1.6
Actuarial losses
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amortization of defined benefit pension items, before tax	0.8	0.8	2.3	2.6
Amortization of defined benefit pension items, tax (expense) benefit	(0.2)	(0.2)	(0.6)	(0.6)
Amortization of defined benefit pension items, net of tax	0.6	0.6	1.7	2
Total defined benefit pension plans, net
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive (loss) income, before tax	1.5	1.5	4.3	4.7
Other comprehensive (loss) income, tax (expense) benefit	(0.4)	(0.3)	(1.1)	(1.1)
Other comprehensive income (loss) items, net of tax	$ 1.1	$ 1.2	$ 3.2	$ 3.6

Segment Information (Details)

Segment Information (Details) $ in Millions	3 Months Ended				9 Months Ended
Segment Information (Details) $ in Millions	May 31, 2023 USD ($)	Feb. 28, 2023 USD ($)	Nov. 30, 2022 USD ($)	May 31, 2022 USD ($)	May 31, 2023 USD ($) segment	May 31, 2022 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| segment					2
Special charges	$ 0	$ 0	$ 6.9	$ 0	$ 6.9	$ 0
Net sales	1,000.3			1,060.6	2,941.8	2,895.8
Operating profit (loss)	143.3			142.7	363.7	360.1
Depreciation and amortization	21.9			23.5	70.4	71.4
Interest expense, net	3.9			6.2	16.2	18.1
Miscellaneous expense (income), net	0.7			(1.5)	6.1	(3.1)
Income before income taxes	138.7			138	341.4	345.1
ABL
Segment Reporting Information [Line Items]
Special charges					6.9
Operating Segments \| ABL
Segment Reporting Information [Line Items]
Net sales	940.7			1,008.4	2,778.6	2,755.1
Operating profit (loss)	150			149.6	391.7	394.2
Depreciation and amortization	18.1			19.6	58.9	59.8
Operating Segments \| ISG
Segment Reporting Information [Line Items]
Net sales	65.8			58.3	180.8	154.7
Operating profit (loss)	8.6			9.2	22.7	12.4
Depreciation and amortization	3.5			3.6	10.5	10.8
Corporate
Segment Reporting Information [Line Items]
Net sales	0			0	0	0
Operating profit (loss)	(15.3)			(16.1)	(50.7)	(46.5)
Depreciation and amortization	0.3			0.3	1	0.8
Eliminations
Segment Reporting Information [Line Items]
Net sales	(6.2)			(6.1)	(17.6)	(14)
Operating profit (loss)	0			0	0	0
Depreciation and amortization	$ 0			$ 0	$ 0	$ 0