Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Aug. 31, 2015 | Oct. 20, 2015 | Feb. 27, 2015 | |
Document and Entity Information [Abstract] | |||
Entity Registrant Name | FACTSET RESEARCH SYSTEMS INC | ||
Trading Symbol | fds | ||
Document Type | 10-K | ||
Current Fiscal Year End Date | --08-31 | ||
Entity Common Stock, Shares Outstanding | 41,448,927 | ||
Entity Public Float | $ 6,345,491,456 | ||
Amendment Flag | false | ||
Entity Central Index Key | 1,013,237 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Well-known Seasoned Issuer | Yes | ||
Document Period End Date | Aug. 31, 2015 | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |||
Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 | ||
Revenues | [1] | $ 1,006,768 | $ 920,335 | $ 858,112 |
Operating expenses | ||||
Cost of services | 405,339 | 353,686 | 306,379 | |
Selling, general and administrative | 269,511 | 264,430 | 282,314 | |
Total operating expenses | 674,850 | 618,116 | 588,693 | |
Operating income | 331,918 | 302,219 | 269,419 | |
Other income | 1,836 | 1,245 | 1,491 | |
Income before income taxes | 333,754 | 303,464 | 270,910 | |
Provision for income taxes | 92,703 | 91,921 | 72,273 | |
Net income | $ 241,051 | $ 211,543 | $ 198,637 | |
Basic earnings per common share (in Dollars per share) | $ 5.80 | $ 4.98 | $ 4.53 | |
Diluted earnings per common share (in Dollars per share) | $ 5.71 | $ 4.92 | $ 4.45 | |
Weighted average common shares (Basic) (in Shares) | 41,572 | 42,436 | 43,890 | |
Weighted average common shares (Diluted) (in Shares) | 42,235 | 42,970 | 44,624 | |
[1] | Revenues are attributed to countries based on the location of the client. |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | |||
Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 | ||
Net income | $ 241,051 | $ 211,543 | $ 198,637 | |
Other comprehensive (loss) income, net of tax | ||||
Net unrealized (loss) gain on cash flow hedges* | [1] | (868) | 5,357 | (3,296) |
Foreign currency translation adjustments | (25,263) | 7,895 | (5,151) | |
Other comprehensive (loss) income | (26,131) | 13,252 | (8,447) | |
Comprehensive income | $ 214,920 | $ 224,795 | $ 190,190 | |
[1] | The unrealized (loss) gain on cash flow hedges disclosed above was net of tax benefit (expense) of $512, ($3,193) and $1,965 for the fiscal years ended August 31, 2015, 2014 and 2013, respectively. |
Consolidated Statements of Com4
Consolidated Statements of Comprehensive Income (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | ||
Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 | |
Tax expense on the net unrealized gain on cash flow hedges | $ 512 | $ (3,193) | $ 11,965 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Aug. 31, 2015 | Aug. 31, 2014 |
CURRENT ASSETS | ||
Cash and cash equivalents | $ 158,914 | $ 116,378 |
Investments | 23,497 | 20,008 |
Accounts receivable, net of reserves of $1,580 and $1,662 at August 31, 2015 and 2014, respectively | 95,064 | 90,354 |
Prepaid taxes | 4,808 | 6,532 |
Deferred taxes | 2,105 | 1,841 |
Prepaid expenses and other current assets | 19,786 | 14,662 |
Total current assets | 304,174 | 249,775 |
LONG-TERM ASSETS | ||
Property, equipment and leasehold improvements, at cost | 213,279 | 201,713 |
Less accumulated depreciation and amortization | (154,015) | (144,072) |
Property, equipment and leasehold improvements, net | 59,264 | 57,641 |
Goodwill | 308,287 | 285,608 |
Intangible assets, net | 40,052 | 41,855 |
Deferred taxes | 20,599 | 22,377 |
Other assets | 4,295 | 5,956 |
TOTAL ASSETS | 736,671 | 663,212 |
CURRENT LIABILITIES | ||
Accounts payable and accrued expenses | 33,880 | 26,971 |
Accrued compensation | 44,916 | 42,481 |
Deferred fees | 38,488 | 36,504 |
Deferred taxes | 562 | |
Taxes payable | 3,755 | 5,036 |
Dividends payable | 18,179 | 16,299 |
Total current liabilities | 139,780 | 127,291 |
NON-CURRENT LIABILITIES | ||
Long-term debt | 35,000 | 0 |
Deferred taxes | 1,697 | 2,921 |
Taxes payable | 6,776 | 5,501 |
Deferred rent and other non-current liabilities | 21,834 | 16,417 |
TOTAL LIABILITIES | $ 205,087 | $ 152,130 |
Commitments and contingencies (See Note 18) | ||
STOCKHOLDERS’ EQUITY | ||
Preferred stock, $.01 par value, 10,000,000 shares authorized, none issued | ||
Common stock, $.01 par value, 150,000,000 shares authorized, 50,328,423 and 49,110,218 shares issued; 41,316,902 and 41,792,802 shares outstanding at August 31, 2015 and 2014, respectively | $ 503 | $ 491 |
Additional paid-in capital | 542,355 | 413,754 |
Treasury stock, at cost: 9,011,521 and 7,317,416 shares at August 31, 2015 and 2014, respectively | (988,873) | (734,746) |
Retained earnings | 1,021,651 | 849,504 |
Accumulated other comprehensive loss | (44,052) | (17,921) |
TOTAL STOCKHOLDERS’ EQUITY | 531,584 | 511,082 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 736,671 | $ 663,212 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Aug. 31, 2015 | Aug. 31, 2014 |
Accounts receivable, reserves (in Dollars) | $ 1,580 | $ 1,662 |
Preferred stock par value (in Dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock, par value (in Dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 150,000,000 | 150,000,000 |
Common stock, shares issued | 50,328,423 | 49,110,218 |
Common stock, shares outstanding | 41,316,902 | 41,792,802 |
Treasury stock shares | 9,011,521 | 7,317,416 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows $ in Thousands | 12 Months Ended | ||
Aug. 31, 2015USD ($) | Aug. 31, 2014USD ($) | Aug. 31, 2013USD ($) | |
CASH FLOWS FROM OPERATING ACTIVITIES | |||
Net income | $ 241,051 | $ 211,543 | $ 198,637 |
Adjustments to reconcile net income to net cash provided by operating activities | |||
Depreciation and amortization | 31,349 | 34,435 | 35,779 |
Stock-based compensation expense | 26,371 | 22,891 | 39,951 |
Deferred income taxes | (969) | (1,028) | 3,175 |
Gain on sale of assets | (34) | (62) | (26) |
Tax benefits from share-based payment arrangements | (28,948) | (11,955) | (25,225) |
Changes in assets and liabilities, net of effects of acquisitions | |||
Accounts receivable, net of reserves | (4,300) | (13,299) | 859 |
Accounts payable and accrued expenses | 8,123 | (2,903) | 3,355 |
Accrued compensation | 3,516 | 1,953 | (776) |
Deferred fees | 53 | 3,594 | (1,107) |
Taxes payable, net of prepaid taxes | 30,437 | 23,309 | 13,498 |
Prepaid expenses and other assets | (4,523) | (1,535) | 2,105 |
Deferred rent and other non-current liabilities | 4,322 | (1,672) | (2,846) |
Other working capital accounts, net | (6) | (248) | 2,430 |
Net cash provided by operating activities | 306,442 | 265,023 | 269,809 |
CASH FLOWS FROM INVESTING ACTIVITIES | |||
Acquisition of businesses, net of cash acquired | (34,758) | (46,873) | (705) |
Purchases of investments | (24,264) | (20,415) | (15,613) |
Proceeds from sales of investments | 19,827 | 14,323 | 14,423 |
Purchases of property, equipment and leasehold improvements, net of proceeds from dispositions | (25,682) | (17,743) | (18,517) |
Net cash used in investing activities | (64,877) | (70,708) | (20,412) |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Dividend payments | (66,551) | (61,007) | (56,002) |
Repurchase of common stock | (256,217) | (279,829) | (332,168) |
Proceeds from debt | 35,000 | ||
Debt issuance costs | (32) | ||
Proceeds from employee stock plans | 71,526 | 52,152 | 124,537 |
Tax benefits from share-based payment arrangements | 28,948 | 11,955 | 25,225 |
Net cash used in financing activities | (187,326) | (276,729) | (238,408) |
Effect of exchange rate changes on cash and cash equivalents | (11,703) | 2,165 | (3,406) |
Net increase (decrease) in cash and cash equivalents | 42,536 | (80,249) | 7,583 |
Cash and cash equivalents at beginning of year | 116,378 | 196,627 | 189,044 |
Cash and cash equivalents at end of year | 158,914 | 116,378 | 196,627 |
Supplemental Disclosure of Cash Flow Information | |||
Cash paid during the year for income taxes, net of refunds | 64,750 | 67,152 | 53,153 |
Supplemental Disclosure of Non-Cash Transactions | |||
Dividends declared, not paid | 18,179 | $ 16,299 | $ 15,164 |
Stock issued for acquisition of business | $ 2,991 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders’ Equity - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total | |
Balance, beginning of year at Aug. 31, 2012 | $ 456 | $ 137,569 | $ (122,749) | $ 559,714 | $ (22,726) | $ 552,264 | |
Foreign currency translation adjustments | (5,151) | (5,151) | |||||
Net unrealized (loss) gain on cash flow hedges, net of tax | (3,296) | (3,296) | [1] | ||||
Net income | 198,637 | 198,637 | |||||
Dividends | (57,832) | (57,832) | |||||
Repurchase of common stock, including stock swaps | (327,454) | (327,454) | |||||
Common stock issued for employee stock plans | 25 | 124,124 | 124,149 | ||||
Stock-based compensation expense | 39,951 | 39,951 | |||||
Tax benefits from share-based payment arrangements | 25,225 | 25,225 | |||||
Purchase of common stock upon restricted stock vesting | (4,714) | (4,714) | |||||
Balance, end of year at Aug. 31, 2013 | 481 | 326,869 | (454,917) | 700,519 | (31,173) | 541,779 | |
Foreign currency translation adjustments | 7,895 | 7,895 | |||||
Net unrealized (loss) gain on cash flow hedges, net of tax | 5,357 | 5,357 | [1] | ||||
Net income | 211,543 | 211,543 | |||||
Dividends | (62,558) | (62,558) | |||||
Repurchase of common stock, including stock swaps | (275,415) | (275,415) | |||||
Common stock issued for employee stock plans | 10 | 52,039 | 52,049 | ||||
Stock-based compensation expense | 22,891 | 22,891 | |||||
Tax benefits from share-based payment arrangements | 11,955 | 11,955 | |||||
Purchase of common stock upon restricted stock vesting | (4,414) | (4,414) | |||||
Balance, end of year at Aug. 31, 2014 | 491 | 413,754 | (734,746) | 849,504 | (17,921) | 511,082 | |
Foreign currency translation adjustments | (25,263) | (25,263) | |||||
Net unrealized (loss) gain on cash flow hedges, net of tax | (868) | (868) | [1] | ||||
Net income | 241,051 | 241,051 | |||||
Dividends | (68,904) | (68,904) | |||||
Repurchase of common stock, including stock swaps | (253,076) | (253,076) | |||||
Common stock issued for employee stock plans | 12 | 72,381 | 72,393 | ||||
Stock-based compensation expense | 26,371 | 26,371 | |||||
Tax benefits from share-based payment arrangements | 28,948 | 28,948 | |||||
Stock issued for acquisition of business | 901 | 2,090 | 2,991 | ||||
Purchase of common stock upon restricted stock vesting | (3,141) | (3,141) | |||||
Balance, end of year at Aug. 31, 2015 | $ 503 | $ 542,355 | $ (988,873) | $ 1,021,651 | $ (44,052) | $ 531,584 | |
[1] | The unrealized (loss) gain on cash flow hedges disclosed above was net of tax benefit (expense) of $512, ($3,193) and $1,965 for the fiscal years ended August 31, 2015, 2014 and 2013, respectively. |
Note 1 - Organization and Natur
Note 1 - Organization and Nature of Business | 12 Months Ended |
Aug. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Nature of Operations [Text Block] | 1. ORGANIZATION AND NATURE OF BUSINESS FactSet Research Systems Inc. (the “Company” or “FactSet”) is a provider of integrated financial information and analytical applications to the global investment community. FactSet combines content regarding companies and securities from major markets all over the globe into a single online platform of information and analytics. By consolidating content from hundreds of databases with powerful analytics, FactSet supports the investment process from initial research to published results for buy and sell-side professionals. These professionals include portfolio managers, research and performance analysts, risk managers, marketing professionals, sell-side equity research professionals, investment bankers and fixed income professionals. The Company’s applications provide users access to company and industry analyses, multicompany comparisons, company screening, portfolio analysis, predictive risk measurements, alphatesting, portfolio optimization and simulation, real-time news and quotes and tools to value and analyze fixed income securities and portfolios. With Microsoft ® |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation | 12 Months Ended |
Aug. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Basis of Presentation and Significant Accounting Policies [Text Block] | 2. BASIS OF PRESENTATION FactSet conducts business globally and is managed on a geographic basis. The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany activity and balances have been eliminated from the consolidated financial statements. The Company has evaluated subsequent events through the date that the financial statements were issued. The Company’s consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles. The preparation of consolidated financial statements and related disclosures in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates have been made in areas that include allocation of purchase price to acquired assets and liabilities, stock-based compensation, income taxes, accrued compensation, valuation of goodwill, and useful lives and valuation of fixed and intangible assets. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from those estimates. |
Note 3 - Summary of Significant
Note 3 - Summary of Significant Accounting Policies | 12 Months Ended |
Aug. 31, 2015 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | 3 . SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The significant accounting policies of the Company and its subsidiaries are summarized below. Revenue Recognition The Company’s revenues are derived from month-to-month subscriptions to services such as workstations (also referred to as users), content and applications. The majority of clients are invoiced monthly to reflect the actual services provided. The remaining clients are invoiced quarterly, annually or biannually in advance. Subscription revenue is earned each month as the service is rendered to clients on a monthly basis. FactSet recognizes revenue when the client subscribes to FactSet services, the service has been rendered and earned during the month, the amount of the subscription is fixed or determinable based on established rates quoted on an annualized basis and collectability is reasonably assured. A provision for billing adjustments and cancellation of services is estimated and accounted for as a reduction to revenue, with a corresponding reduction to accounts receivable. Accounts Receivable and Deferred Fees Amounts that have been earned but not yet paid are reflected on the Consolidated Balance Sheets as accounts receivable, net of reserves. Amounts invoiced in advance or client payments that are in excess of earned subscription revenues are reflected on the Consolidated Balance Sheets as deferred fees. As of August 31, 2015, the amount of accounts receivable that was unbilled totaled $4.0 million, which was billed in fiscal 2016. The Company calculates its receivable reserve through analyzing aged client receivables, reviewing the recent history of client receivable write-offs and understanding general market and economic conditions. In accordance with this policy, a receivable reserve of $1.6 million and $1.7 million was recorded as of August 31, 2015 and 2014, respectively, in the Consolidated Balance Sheets as a reduction to accounts receivable. Cost of Services Cost of services is comprised of compensation for Company employees within the content collection, consulting, product development, software and systems engineering groups in addition to data costs, computer maintenance and depreciation expenses, amortization of identifiable intangible assets, and client-related communication costs. Selling, General and Administrative Selling, general and administrative expenses include compensation for the sales and various other support and administrative departments in addition to travel and entertainment expenses, marketing costs, rent, amortization of leasehold improvements, depreciation of furniture and fixtures, office expenses, professional fees and other miscellaneous expenses. Earnings per Share Basic earnings per share (“EPS”) is computed by dividing net income by the number of weighted average common shares outstanding during the period. Diluted earnings per share is computed by dividing net income by the number of weighted average common shares outstanding during the period increased by the dilutive effect of potential common shares outstanding during the period. The number of potential common shares outstanding has been determined in accordance with the treasury stock method to the extent they are dilutive. Common share equivalents consist of common shares issuable upon the exercise of outstanding share-based compensation awards, including employee stock options and restricted stock. Under the treasury stock method, the exercise price paid by the optionee, future stock-based compensation expense that the Company has not yet recognized and the amount of tax benefits that would be recorded in additional paid-in capital (“APIC”) when the award becomes deductible are assumed to be used to repurchase shares. Comprehensive Income (Loss) The Company discloses comprehensive income (loss) in accordance with applicable standards for the reporting and display of comprehensive income (loss) in a set of financial statements. Comprehensive income (loss) is defined as the change in net assets of a business enterprise during a period from transactions generated from non-owner sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners. Fair Value Measures Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, the use of various valuation methodologies, including market, income and cost approaches is permissible. The Company considers the principal or most advantageous market in which it would transact and considers assumptions that market participants would use when pricing the asset or liability. The accounting guidance for fair value measurements establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. There are three levels of inputs that may be used to measure fair value based on the reliability of inputs. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The Company’s cash equivalents are classified as Level 1 while the Company’s derivative instruments ( foreign exchange forward contracts) and certificates of deposit are classified as Level 2. There were no Level 3 assets or liabilities held by FactSet as of August 31, 2015 or 2014. Cash and Cash Equivalents Cash and cash equivalents consist of demand deposits and corporate money market funds with original maturities of three months or less and are reported at fair value. The Company’s corporate money market funds are traded in an active market and the net asset value of each fund on the last day of the quarter is used to determine its fair value. Investments Investments consist of certificates of deposits with original maturities greater than three months, but less than one year and, as such, are classified as investments (short-term) on the Consolidated Balance Sheets. These certificates of deposit are held for investment and are not debt securities. The Company’s investments are associated with its purchase of certificates of deposits in India with maturities of less than twelve months from the date of purchase. Interest income earned from the certificates of deposit during fiscal 2015, 2014 and 2013 were $2.0 million, $1.2 million and $1.3 million, respectively. The Company’s cash, cash equivalents and investments portfolio did not experience any realized or unrealized losses as a result of counterparty credit risk or ratings change during fiscal 2015 and 2014. Property, Equipment and Leasehold Improvements Property, equipment and leasehold improvements are stated at cost, less accumulated depreciation and amortization. Computers and related equipment are depreciated on a straight-line basis over estimated useful lives of three years. Furniture and fixtures are depreciated on a straight-line basis over their estimated useful lives of seven years. Leasehold improvements are amortized on a straight-line basis over the terms of the related leases or estimated useful lives of the improvements, whichever period is shorter. Repairs and maintenance expenditures, which are not considered leasehold improvements and do not extend the useful life of the property and equipment, are expensed as incurred. The Company performs a test for impairment whenever events or changes in circumstances indicate that the carrying amount of an individual asset or asset group may not be recoverable. Should projected undiscounted future cash flows be less than the carrying amount of the asset or asset group, an impairment charge reducing the carrying amount to fair value is required. Fair value is determined based on the most appropriate valuation technique, including discounted cash flows. Goodwill Goodwill has resulted from the acquisitions of the Insyte, LionShares, Mergerstat, CallStreet, JCF, TrueCourse, Derivative Solutions, AlphaMetrics, Global Filings, DealMaven, Thomson Fundamentals, Market Metrics, StreetAccount, Revere, Matrix, ETF.com and Code Red businesses. Goodwill resulting from the acquisitions of LionShares, Mergerstat, TrueCourse, Derivative Solutions, Market Metrics, StreetAccount, Revere and Matrix are income tax-deductible based on the structure of the acquisition. The Company is required to test goodwill for impairment annually, or more frequently if impairment indicators occur. Goodwill is tested for impairment based on the present value of discounted cash flows, and, if impaired, written down to fair value based on discounted cash flows. FactSet has three reporting units, which are consistent with the operating segments reported as there is no discrete financial information available for the subsidiaries within each operating segment. The reporting units evaluated for potential impairment were the U.S., Europe and Asia Pacific, which reflect the level of internal reporting the Company uses to manage its business and operations. The Company performed its annual goodwill impairment test during the fourth quarter of fiscal 2015, consistent with the timing of previous years, at which time it was determined that there were no indications of impairment, with the fair value of each of the Company’s reporting units significantly exceeding carrying value. Intangible Assets FactSet’s identifiable intangible assets consist of acquired content databases, client relationships, software technology, non-compete agreements and trade names resulting from acquisitions, which have been fully integrated into the Company’s operations. Depending on the nature of the intangible asset, the identifiable intangible assets are amortized on either a straight-line or an accelerated basis using estimated useful lives ranging between two and twenty years. The remaining useful lives of intangible assets subject to amortization are evaluated quarterly to determine whether events and circumstances warrant a revision to the remaining period of amortization. If the estimate of the remaining useful life is changed, the remaining carrying amount of the intangible asset is amortized prospectively over that revised remaining useful life. These intangible assets have no assigned residual values. Intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Determination of recoverability is based on an estimate of undiscounted future cash flows resulting from the use of the asset and its eventual disposition. Measurement of any impairment loss for intangible assets that management expects to hold and use is based on the amount the carrying value exceeds the fair value of the asset. No impairment of intangible assets has been identified during any of the fiscal years presented. Accrued Liabilities Accrued liabilities include estimates relating to employee compensation, operating expenses and tax liabilities. Approximately 15% of the Company’s employee incentive compensation programs are discretionary. At the end of each fiscal year, FactSet conducts a final review of both Company and individual performance within each department to determine the amount of discretionary employee compensation. The Company also reviews compensation throughout the year to determine how overall performance tracks against management’s expectations. Management takes these and other factors, including historical performance, into account in reviewing accrued compensation estimates quarterly and adjusting accrual rates as appropriate. The amount of the variable employee compensation recorded within accrued compensation as of August 31, 2015 and 2014, was $38.6 million and $37.3 million, respectively. Derivative Instruments FactSet conducts business outside the U.S. in several currencies including the Indian Rupee, Philippine Peso, British Pound Sterling, Euro and Japanese Yen. As such, it is exposed to movements in foreign currency exchange rates compared to the U.S. dollar. The Company utilizes derivative instruments (foreign currency forward contracts) to manage the exposures related to the effects of foreign exchange rate fluctuations and reduce the volatility of earnings and cash flows associated with changes in foreign currency. The Company does not enter into foreign exchange forward contracts for trading or speculative purposes. In designing a specific hedging approach, FactSet considers several factors, including offsetting exposures, significance of exposures, forecasting risk and potential effectiveness of the hedge. These transactions are designated and accounted for as cash flow hedges in accordance with applicable accounting guidance . Foreign Currency Translation Certain wholly owned subsidiaries within the European and Asia Pacific segments operate under a functional currency different from the U.S. dollar, such as the British Pound Sterling, Euro, Japanese Yen, Indian Rupee and Philippine Peso. The financial statements of these foreign subsidiaries are translated into U.S. dollars using period-end rates of exchange for assets and liabilities, and average rates for the period for revenues and expenses. Translation gains and losses that arise from translating assets, liabilities, revenues and expenses of foreign operations are recorded in AOCL as a component of stockholders’ equity. The accumulated foreign currency translation loss totaled $43.7 million and $18.4 million at August 31, 2015 and 2014, respectively. Income and Deferred Taxes Income tax expense is based on taxable income determined in accordance with currently enacted laws and tax rates. Deferred income taxes are recorded for the temporary differences between the financial statement and tax bases of assets and liabilities using currently enacted tax rates. FactSet recognizes the financial effect of an income tax position only if it is more likely than not (greater than 50%) that the tax position will prevail upon tax examination, based solely on the technical merits of the tax position as of the reporting date. Otherwise, no benefit or expense can be recognized in the consolidated financial statements. The tax benefits recognized are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. Additionally, FactSet accrues interest on all tax exposures for which reserves have been established consistent with jurisdictional tax laws. Interest is classified as income tax expense in the financial statements. As of August 31, 2015, the Company had gross unrecognized tax benefits totaling $6.8 million, including $1.3 million of accrued interest, recorded as non-current taxes payable in the Consolidated Balance Sheet. Stock-Based Compensation Accounting guidance requires the measurement and recognition of compensation expense for all share-based payment awards made to employees and directors including stock options, restricted stock and common shares acquired under employee stock purchases based on estimated fair values of the share awards that are scheduled to vest during the period. FactSet uses the straight-line attribution method for all awards with graded vesting features and service conditions only. Under this method, the amount of compensation expense that is recognized on any date is at least equal to the vested portion of the award on that date. For all stock-based awards with performance conditions, the graded vesting attribution method is used by the Company to determine the monthly stock-based compensation expense over the applicable vesting periods. As stock-based compensation expense recognized is based on awards ultimately expected to vest, it has been reduced for estimated forfeitures. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Forfeitures are estimated based primarily on historical experience. Windfall tax benefits, defined as tax deductions that exceed recorded stock-based compensation, are classified as cash inflows from financing activities. Performance-based stock options require management to make assumptions regarding the likelihood of achieving Company performance targets o n a quarterly basis. The number of performance-based options that vest will be predicated on the Company achieving certain performance levels. A change in the financial performance levels the Company achieves could result in changes to FactSet’s current estimate of the vesting percentage and related stock-based compensation. Treasury Stock The Company accounts for repurchased common stock under the cost method and includes such treasury stock as a component of its stockholders’ equity. At the time treasury stock retirement is approved by FactSet’s Board of Directors, the Company’s accounting policy is to deduct its par value from common stock, reduce APIC by the amount recorded in APIC when the stock was originally issued and any remaining excess of cost as a deduction from retained earnings. Operating Leases The Company conducts all of its operations in leased facilities which have minimum lease obligations under non-cancelable operating leases. Certain of these leases contain rent escalations based on specified percentages. Most of the leases contain renewal options and require payments for taxes, insurance and maintenance. Rent expense is charged to operations as incurred except for escalating rents, which are charged to operations on a straight-line basis over the life of the lease. Lease incentives, relating to allowances provided by landlords, are amortized over the term of the lease as a reduction of rent expense. Costs associated with acquiring a subtenant, including broker commissions and tenant allowances, are amortized over the sublease term as a reduction of sublease income. Business Combinations The Company records acquisitions using the purchase method of accounting. All of the assets acquired, liabilities assumed, contractual contingencies and contingent consideration are recognized at their fair value on the acquisition date. The application of the purchase method of accounting for business combinations requires management to make significant estimates and assumptions in the determination of the fair value of assets acquired and liabilities assumed in order to properly allocate purchase price consideration between assets that are depreciated and amortized from goodwill. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. Acquisition-related expenses and restructuring costs are recognized separately from the business combination and are expensed as incurred. Concentrations of Risk Cash and cash equivalents are maintained with several financial institutions. Deposits held with banks may exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and are maintained with financial institutions with reputable credit and therefore bear minimal credit risk. The Company seeks to mitigate its credit risks by spreading such risks across multiple counterparties and monitoring the risk profiles of these counterparties. New Accounting Standards or Updates Recently Adopted Except for the new accounting standard updates disclosed below, the new updates issued by the Financial Accounting Standards Board (“FASB”) during the last three fiscal years did not have an impact on the Company’s consolidated financial statements. Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income In February 2013, the FASB issued an accounting standard update to require reclassification adjustments from other comprehensive income to be presented either in the financial statements or in the notes to the financial statements. This accounting standard update became effective for FactSet beginning in the first quarter of fiscal 2014 and the additional information has been disclosed in Note 6, Other Comprehensive (Loss) Income and Accumulated Other Comprehensive Loss Cumulative Translation Adjustments In March 2013, the FASB issued an accounting standard update requiring an entity to release into net income the entire amount of a cumulative translation adjustment related to its investment in a foreign entity when as a parent it either sells a part or all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets within a foreign entity. This accounting standard update was adopted by FactSet beginning in the first quarter of fiscal 2014 and did not have an impact on the Company’s consolidated financial statements. Recent Accounting Standards or Updates Not Yet Effective Reporting Discontinued Operations In April 2014, the FASB issued an accounting standard update that changes the criteria for reporting discontinued operations. Under the accounting standard update, a disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has, or will have, a major effect on an entity's operations and financial results when either it qualifies as held for sale, disposed of by sale, or disposed of other than by sale. This accounting standard update will be effective for FactSet beginning in the first quarter of fiscal 2016. The Company does not believe this new accounting standard update will have a material impact on its consolidated financial statements. Revenue Recognition In May 2014, the FASB issued an accounting standard update which provides clarified principles for recognizing revenue arising from contracts with clients and supersedes most current revenue recognition guidance, including industry-specific guidance. The core principle of the revenue model is that an entity recognizes revenue to depict the transfer of promised goods or services to clients in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In applying the revenue model to contracts within its scope, an entity will identify the contract with a client, identify the performance obligations in the contract, determine the transaction price, allocate the transaction price to the performance obligations in the contract and recognize revenue when (or as) the entity satisfies a performance obligation. This accounting standard update will be effective for FactSet beginning in the first quarter of fiscal 2019, with early adoption in fiscal 2018 permitted. The Company is currently evaluating the impact of this accounting standard update on its consolidated financial statements. Going Concern In August 2014, the FASB issued an accounting standard update that requires management to evaluate and disclose whether there are conditions and events that raise substantial doubt about an entity’s ability to continue as a going concern within one year after financial statements are issued. The evaluation and disclosure will be required to be made for both annual and interim reporting periods, if applicable, along with an evaluation as to whether management’s plans alleviate that doubt. This accounting standard update will be effective for FactSet beginning in the first quarter of fiscal 2017. The Company does not believe this new accounting standard update will have a material impact on its consolidated financial statements. Income Statement Presentation – Extraordinary and Unusual Items In January 2015, the FASB issued an accounting standard update that eliminates from GAAP the concept of extraordinary items. This accounting standard update will be effective for FactSet beginning in the first quarter of fiscal 2017. The standard primarily involves presentation and disclosure and, therefore, is not expected to have a material impact on the Company’s financial condition, results of operations or its cash flows. Simplification Guidance on Debt Issuance Costs In April 2015, the FASB issued an accounting standard update which changes the presentation of debt issuance costs in the applicable financial statements. Under the accounting standard update, an entity should present such costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of the costs is reported as interest expense. This accounting standard update will be effective for FactSet beginning in the first quarter of fiscal 2017. The Company does not believe this new accounting standard update will have a material impact on its consolidated financial statements. In August 2015, the FASB issued an accounting standard update to amend the previous guidance issued in April 2015 and address debt issuance costs related to line-of-credit arrangements. The accounting standard update allows an entity to present debt issuance costs related to a line-of-credit as an asset and subsequently amortize the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the arrangement. This accounting standard update did not impact the effective date of the previously issued guidance and the Company does not believe it will have a material impact on its consolidated financial statements. Customers’ Accounting for Cloud Computing Costs In April 2015, the FASB issued an accounting standard update to provide guidance on a customer’s accounting for cloud computing costs. Under the accounting standard update, a customer must determine whether a cloud computing arrangement contains a software license. If so, the customer would account for the fees related to the software license element in a manner consistent with how the accounting for software licenses is accounted for under previously issued guidance. If the arrangement does not contain a software license, the customer would account for the arrangement as a service contract. This guidance will be effective for FactSet beginning in the first quarter of fiscal 2017. The Company does not believe this new accounting standard update will have a material impact on its consolidated financial statements. No other new accounting pronouncements issued or effective as of August 31, 2015 have had or are expected to have an impact on the Company’s consolidated financial statements. |
Note 4 - Fair Value Measures
Note 4 - Fair Value Measures | 12 Months Ended |
Aug. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Fair Value, Measurement Inputs, Disclosure [Text Block] | 4 . FAIR VALUE MEASURES Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, the use of various valuation methodologies, including market, income and cost approaches is permissible. The Company considers the principal or most advantageous market in which it would transact and considers assumptions that market participants would use when pricing the asset or liability. Fair Value Hierarchy The accounting guidance for fair value measurements establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. There are three levels of inputs that may be used to measure fair value based on the reliability of inputs. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment and may affect their placement within the fair value hierarchy levels. FactSet has categorized its cash equivalents, investments and derivatives within the hierarchy as follows: Level 1 - Level 2 - Level 3 - ( a ) Asse ts and Liabilities Measured at Fair Value on a Recurring Basis The following tables shows by level within the fair value hierarchy the Company’s assets and liabilities that are measured at fair value on a recurring basis at August 31, 2015 and 2014 (in thousands): Fair Value Measurements at Reporting Date Using August 31, 2015 Level 1 Level 2 Level 3 Total Assets Corporate money market funds (1) $ 89,443 $ — $ — $ 89,443 Certificates of deposit (2) — 23,497 — 23,497 Derivative instruments (3) — 1,035 — 1,035 Total assets measured at fair value $ 89,443 $ 24,532 $ — $ 113,975 Liabilities Derivative instruments (3) $ — $ 1,602 $ — $ 1,602 Total liabilities measured at fair value $ — $ 1,602 $ — $ 1,602 Fair Value Measurements at Reporting Date Using August 31, 2014 Level 1 Level 2 Level 3 Total Assets Corporate money market funds (1) $ 75,363 $ — $ — $ 75,363 Certificates of deposit (2) — 20,008 — 20,008 Derivative instruments (3) — 1,406 — 1,406 Total assets measured at fair value $ 75,363 $ 21,414 $ — $ 96,777 Liabilities Derivative instruments (3) $ — $ 591 $ — $ 591 Total liabilities measured at fair value $ — $ 591 $ — $ 591 (1) The Company’s corporate money market funds are traded in an active market and the net asset value of each fund on the last day of the quarter is used to determine its fair value. As such, the Company’s corporate money market funds are classified as Level 1 and included in cash and cash equivalents on the consolidated balance sheet. (2) The Company’s c ertificates of deposit held for investment are not debt securities and are classified as Level 2 . These certificates of deposit have original maturities greater than three months, but less than one year and, as such, are classified as investments (short-term) on the consolidated balance sheet. (3) The Company utilizes the income approach to measure fair value for its derivative instruments ( foreign exchange forward contracts) . The income approach uses pricing models that rely on market observable inputs such as spot, forward and interest rates , as well as credit default swap spreads and therefore are classified as Level 2. The Company did not have any transfers between Level 1 and Level 2 fair value measurements during the periods presented. (b) Assets and Liabilities Measured at Fair Value on a Non-recurring Basis Certain assets, including goodwill and intangible assets, and liabilities, are measured at fair value on a non-recurring basis; that is, the assets and liabilities are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances such as when they are deemed to be other-than-temporarily impaired. The fair values of these non-financial assets and liabilities are determined based on valuation techniques using the best information available, and may include quoted market prices, market comparables, and discounted cash flow projections. An impairment charge is recorded when the cost exceeds its fair value, based upon the results of such valuations. During fiscal 2015 and 2014, no fair value adjustments or material fair value measurements were required for the Company’s non-financial assets or liabilities. (c) Assets and Liabilities Measured at Fair Value for Disclosure Purposes only As of August 31, 2015, the fair value of the Company’s long-term debt was $35.0 million, which approximated its carrying amount given its floating interest rate basis. FactSet did not have any long-term debt as of August 31, 2014. The fair value of the Company’s long-term debt was determined based on quoted market prices for debt with a similar maturity, and thus categorized as Level 2 in the fair value hierarchy. |
Note 5 - Derivative Instruments
Note 5 - Derivative Instruments | 12 Months Ended |
Aug. 31, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 5 . DERIVATIVE INSTRUMENTS Cash Flow Hedges FactSet conducts business outside the U.S. in several currencies including the British Pound Sterling, Euro, Japanese Yen, Indian Rupee and Philippine Peso. As such, it is exposed to movements in foreign currency exchange rates compared to the U.S. dollar. The Company utilizes derivative instruments (foreign currency forward contracts) to manage the exposures related to the effects of foreign exchange rate fluctuations and reduce the volatility of earnings and cash flows associated with changes in foreign currency. The Company does not enter into foreign exchange forward contracts for trading or speculative purposes. In designing a specific hedging approach, FactSet considered several factors, including offsetting exposures, significance of exposures, forecasting risk and potential effectiveness of the hedge. The gains and losses on foreign currency forward contracts offset the variability in operating expenses associated with currency movements. The changes in fair value for these foreign currency forward contracts are initially reported as a component of AOCL and subsequently reclassified into operating expenses when the hedged exposure affects earnings. There was no discontinuance of cash flow hedges during fiscal 2015 or 2014, and as such, no corresponding gains or losses related to changes in the value of the Company’s contracts were reclassified into earnings prior to settlement. As of August 31, 2015, FactSet maintained the following foreign currency forward contracts to hedge its Indian Rupee, British Pound Sterling and Euro exposure: ● Indian Rupee ● British Pound Sterling - ● Euro - The following is a summary of all hedging positions and corresponding fair values (in thousands): Gross Notional Value Fair Value Asset (Liability) Currency Hedged (in U.S. dollars) Aug 31, 2015 Aug 31, 2014 Aug 31, 2015 Aug 31, 2014 Indian Rupee $ 56,320 $ 38,479 $ (990 ) $ 700 Philippine Peso — 6,500 — 115 Euro 20,263 — 143 — British Pound Sterling 15,831 — 280 — Total $ 92,414 $ 44,979 $ (567 ) $ 815 As of August 31, 2015, the gross notional value of foreign exchange contracts to purchase Indian Rupees with U.S. dollars was Rs. 4.0 billion. The gross notional value of foreign exchange contracts to purchase Euros with U.S. dollars was €18.1 million. The gross notional value of foreign exchange contracts to purchase British Pound Sterling with U.S. dollars was £10.5 million. Counterparty Credit Risk As a result of the use of derivative instruments, the Company is exposed to counterparty credit risk. FactSet has incorporated counterparty risk into the fair value of its derivative assets and its own credit risk into the value of the Company’s derivative liabilities. FactSet calculates credit risk from observable data related to credit default swaps (“CDS”) as quoted by publicly available information. Counterparty risk is represented by CDS spreads related to the senior secured debt of the respective bank with whom FactSet has executed these derivative transactions. Because CDS spread information is not available for FactSet, the Company’s credit risk is determined based on using a simple average of CDS spreads for peer companies. To mitigate counterparty credit risk, FactSet enters into contracts with large financial institutions. The Company regularly reviews its credit exposure balances as well as the creditworthiness of the counterparties. The Company does not expect any losses as a result of default of its counterparties. Fair Value of Derivative Instruments The following tables provide a summary of the fair value amounts of derivative instruments and gains and losses on derivative instruments (in thousands): Designation of Derivatives Balance Sheet Location Aug 31, 2015 Aug 31, 2014 Derivatives designated as hedging instruments Assets: Foreign Currency Forward Contracts Prepaid expenses and other current assets $ 1,035 $ 114 Other assets $ — 1,292 Liabilities: Foreign Currency Forward Contracts Accounts payable and accrued expenses $ — $ 591 Deferred rent and other non-current liabilities $ 1,602 $ — All derivatives were designated as hedging instruments as of August 31, 2015 and 2014, respectively. Derivatives in Cash Flow Hedging Relationships The following table provides the pre-tax effect of derivative instruments in cash flow hedging relationships for the each of the three fiscal years ended August 31, (in thousands): (Loss) Gain Recognized in AOCL on Derivatives Location of Loss (Loss) Reclassified from AOCL into Income (Effective Portion) Derivatives in Cash Flow Hedging Relationships 2015 2014 2013 Reclassified from AOCL into Income(Effective Portion) 2015 2014 2013 Foreign currency forward contracts $ (1,939 ) $ 8,294 $ (6,258 ) SG&A $ (559 ) $ (260 ) $ (1,000 ) No amount of ineffectiveness was recorded in the Consolidated Statements of Income for these designated cash flow hedges and all components of each derivative’s gain or loss was included in the assessment of hedge effectiveness. As of August 31, 2015, FactSet estimates that $1.0 million of net derivative gains related to its cash flow hedges included in AOCL will be reclassified into earnings within the next 12 months. Offsetting of Derivative Instruments FactSet’s master netting and other similar arrangements with its respective counterparties allow for net settlement under certain conditions. As of August 31, 2015 and 2014, respectively, information related to these offsetting arrangements was as follows (in thousands): Derivatives Offset in Consolidated Balance Sheets August 31, 2015 Gross Derivative Amounts Gross Derivative Amounts Offset in Balance Sheet Net Amounts Fair value of assets $ 1,040 $ (5 ) $ 1,035 Fair value of liabilities (1,607 ) 5 (1,602 ) Total $ (567 ) $ — $ (567 ) Derivatives Offset in Consolidated Balance Sheets August 31, 2014 Gross Derivative Amounts Gross Derivative Amounts Offset in Balance Sheet Net Amounts Fair value of assets $ 1,406 $ — $ 1,406 Fair value of liabilities (626 ) 35 (591 ) Total $ 780 $ 35 $ 815 |
Note 6 - Other Comprehensive (L
Note 6 - Other Comprehensive (Loss) Income and Accumulated Other Comprehensive Loss | 12 Months Ended |
Aug. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Comprehensive Income (Loss) Note [Text Block] | 6. OTHER COMPREHENSIVE (LOSS) INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS The components of other comprehensive (loss) income during the fiscal years ended August 31, 2015, 2014, and 2013 are as follows (in thousands): August 31, 2015 August 31, 2014 August 31, 2013 Pre-tax Net of tax Pre-tax Net of tax Pre-tax Net of tax Foreign currency translation adjustments $ (25,263 ) $ (25,263 ) $ 7,895 $ 7,895 $ (5,151 ) $ (5,151 ) Realized loss on cash flow hedges reclassified to earnings (1) 559 352 260 164 1,000 622 Unrealized (loss) gain on cash flow hedges recognized in AOCL (1,939 ) (1,220 ) 8,294 5,193 (6,258 ) (3,918 ) Other comprehensive (loss) income $ (26,643 ) $ (26,131 ) $ 16,449 $ 13,252 $ (10,409 ) $ (8,447 ) (1) Reclassified to Selling, General and Administrative Expenses The components of AOCL are as follows (in thousands): August 31, 2015 August 31, 2014 Accumulated unrealized (losses) gains on cash flow hedges, net of tax $ (358 ) $ 510 Accumulated foreign currency translation adjustments (43,694 ) (18,431 ) Total accumulated other comprehensive loss $ (44,052 ) $ (17,921 ) |
Note 7 - Segment Information
Note 7 - Segment Information | 12 Months Ended |
Aug. 31, 2015 | |
Segment Reporting [Abstract] | |
Segment Reporting Disclosure [Text Block] | 7. SEGMENT INFORMATION Operating segments are defined as components of an enterprise that engage in business activities from which they may earn revenues and incur expenses, whose operating results are regularly reviewed by the enterprise’s chief operating decision maker (“CODM”) to make decisions about resources to be allocated to the segment and assess its performance, and for which discrete financial information is available. FactSet’s CODM is its Chief Executive Officer, who is responsible for making decisions about resources allocated amongst the operating segments based on actual results. FactSet’s operating segments are aligned with how the Company, including its CODM, manages the business and the demographic markets in which FactSet serves. The Company’s internal financial reporting structure is based on three segments; U.S., Europe and Asia Pacific. FactSet believes this alignment helps it better manage the business and view the markets the Company serves, which are centered on providing integrated global financial and economic information. Sales, consulting, data collection, product development and software engineering are the primary functional groups within the U.S., Europe and Asia Pacific segments that provide global financial and economic information to investment managers, investment banks and other financial services professionals. The U.S. segment services finance professionals including financial institutions throughout the Americas, while the European and Asia Pacific segments service investment professionals located throughout Europe and Asia, respectively. The accounting policies of the segments are the same as those described in the Note 3, Summary of Significant Accounting Policies The European segment is headquartered in London, England and maintains office locations in France, Germany, Italy, Ireland, Latvia, Luxembourg, the Netherlands, Spain, South Africa, Sweden and Dubai. The Asia Pacific segment is headquartered in Tokyo, Japan with office locations in Australia, Hong Kong, Singapore and Mumbai, India. Segment revenues reflect direct sales to clients based in their respective geographic locations. There are no intersegment or intercompany sales of the FactSet services. Each segment records compensation expense, including stock-based compensation, amortization of intangible assets, depreciation of furniture and fixtures, amortization of leasehold improvements, communication costs, professional fees, rent expense, travel, marketing, office and other direct expenses. Expenditures associated with the Company’s data centers, third party data costs and corporate headquarters charges are recorded by the U.S. segment and are not allocated to the other segments. The content collection centers located in India and the Philippines benefit all of the Company’s operating segments and thus the expenses incurred at these locations are allocated to each segment based on a percentage of revenues. Of the total $308.3 million of goodwill reported by the Company at August 31, 2015, 69% was recorded in the U.S. segment, 30% in the European segment and the remaining 1% in the Asia Pacific segment. The following reflects the results of operations of the segments consistent with the Company’s management system. These results are used, in part, by management, both in evaluating the performance of, and in allocating resources to, each of the segments (in thousands). Year Ended August 31, 2015 U.S. Europe Asia Pacific Total Revenues from clients $ 678,774 $ 251,522 $ 76,472 $ 1,006,768 Segment operating profit 172,980 116,310 42,628 331,918 Total assets 427,990 239,689 68,992 736,671 Depreciation and amortization 23,645 5,135 2,569 31,349 Stock-based compensation 23,006 2,991 374 26,371 Capital expenditures 22,459 460 2,763 25,682 Year Ended August 31, 2014 U.S. Europe Asia Pacific Total Revenues from clients $ 624,642 $ 227,395 $ 68,298 $ 920,335 Segment operating profit 165,004 100,937 36,278 302,219 Total assets 362,255 239,654 61,303 663,212 Depreciation and amortization 25,574 5,656 3,205 34,435 Stock-based compensation 20,288 2,231 372 22,891 Capital expenditures 16,047 647 1,049 17,743 Year Ended August 31, 2013 U.S. Europe Asia Pacific Total Revenues from clients $ 586,865 $ 208,827 $ 62,420 $ 858,112 Segment operating profit 138,706 100,187 30,526 269,419 Total assets 444,406 193,202 52,589 690,197 Depreciation and amortization 27,757 4,027 3,995 35,779 Stock-based compensation 37,307 2,264 380 39,951 Capital expenditures 13,649 1,276 3,592 18,517 GEOGRAPHIC INFORMATION - Years Ended August 31, 2015 2014 2013 Revenue s (1) United States $ 678,774 $ 624,642 $ 586,865 United Kingdom 144,769 131,848 121,072 All other European countries 106,753 95,547 87,755 Asia Pacific 76,472 68,298 62,420 Total revenues $ 1,006,768 $ 920,335 $ 858,112 (1) Revenues are attributed to countries based on the location of the client. The following table sets forth long-lived assets by geographic area (in thousands): At August 31, 2015 2014 2013 Long-lived Assets (1) United States $ 49,923 $ 46,294 $ 51,184 United Kingdom 3,655 4,669 4,806 All other European countries 1,322 2,267 3,051 Asia Pacific 4,364 4,411 6,330 Total long-lived assets $ 59,264 $ 57,641 $ 65,371 (1) Long-lived assets consist of property, equipment and leasehold improvements, net of accumulated depreciation and amortization and exclude goodwill, intangible assets, deferred taxes and other assets. |
Note 8 - Business Combinations
Note 8 - Business Combinations | 12 Months Ended |
Aug. 31, 2015 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | 8 . BUSINESS COMBINATIONS Code Red, Inc. On February 6, 2015, FactSet acquired Code Red, Inc. (“Code Red”) for $36.0 million. At the time of acquisition, Code Red employed 32 individuals and had annual subscriptions of $9.3 million. Code Red provides research management technologies to the investment community, including endowments and foundations, institutional asset managers, sovereign wealth funds, pensions, and hedge funds. With the addition of Code Red to FactSet's existing Research Management Solutions (“RMS”), FactSet now offers an RMS for all its clients' workflows, which is consistent with the Company’s strategy of offering software and tools to make client workflows more efficient. This factor contributed to a purchase price in excess of fair value of Code Red’s net tangible and intangible assets, leading to the recognition of goodwill. The total purchase price of Code Red is as follows (in thousands): Cash consideration $ 32,962 Fair value of FactSet stock issued 2,991 Total purchase price $ 35,953 The purchase price was allocated to Code Red’s net tangible and intangible assets based upon their estimated fair value as of the date of acquisition. Based upon these estimated fair values and the preliminary intangible assets valuation, the purchase price allocation is as follows (in thousands): Tangible assets acquired $ 3,090 Amortizable intangible assets Software technology 4,728 Client relationships 3,089 Non-compete agreements 277 Trade name 127 Goodwill 29,627 Total assets acquired $ 40,938 Liabilities assumed (4,985 ) Net assets acquired $ 35,953 Intangible assets of $8.2 million have been allocated to amortizable intangible assets consisting of software technology, amortized over six years using a straight-line amortization method; client relationships, amortized over seven years using an accelerated amortization method; non-compete agreements, amortized over four years using a straight-line amortization method; and trade name, amortized over three years using a straight-line amortization method. Goodwill totaling $29.6 million represents the excess of the purchase price over the fair value of the net tangible and intangible assets acquired. Goodwill generated from the Code Red acquisition is included in the U.S. segment and is not deductible for income tax purposes. The results of operations of Code Red have been included in the Company’s Consolidated Statements of Income since the completion of the acquisition on February 6, 2015 and the results did not have a material impact as of August 31, 2015. Pro forma information has not been presented because the effect of this acquisition was not material to the Company’s consolidated financial results. Matrix Data Limited During the second quarter of fiscal 2014, FactSet acquired Matrix Data Limited (“Matrix”) for a total purchase price of $31.8 million. Matrix’ primary line of business is providing intelligence to the UK financial services industry and covering market share of mutual fund distribution. Matrix has developed customer, channel and market benchmarking solutions that help clients optimize product distribution and improve marketing effectiveness to drive revenue growth. At the time of acquisition, Matrix had annual subscriptions of $7 million. The acquisition of Matrix allows FactSet to expand its current U.S. advisor-sold investments and insurance products to the UK, with the potential to ultimately expand this coverage throughout continental Europe. The opportunity for FactSet to develop an international presence and complement its existing U.S. product offerings contributed to a purchase price in excess of fair value of the Matrix net tangible and intangible assets, leading to the recognition of goodwill in connection with the acquisition. The purchase price was allocated to Matrix’ net tangible and intangible assets based upon their estimated fair value as of the date of acquisition. Allocation of the purchase price to the assets acquired and liabilities assumed was finalized during the third quarter of fiscal 2014. There were no material adjustments between the preliminary and final allocation of purchase price. The final Matrix purchase price of $31.8 million was allocated as follows (in thousands): Tangible assets acquired $ 7,459 Amortizable intangible assets Data content 3,408 Client relationships 2,816 Software technology 1,708 Trade name 670 Non-compete agreements 147 Goodwill 25,531 Total assets acquired $ 41,739 Liabilities assumed (9,941 ) Net assets acquired $ 31,798 Intangible assets of $8.7 million have been allocated to amortizable intangible assets consisting of data content, amortized over four years using a straight-line amortization method; client relationships, amortized over eight years using an accelerated amortization method; software technology, amortized over five years using a straight-line amortization method; non-compete agreements, amortized over three years using a straight-line amortization method; and trade name, amortized over four years using a straight-line amortization method. Goodwill totaling $25.5 million represents the excess of the purchase price over the fair value of the net tangible and intangible assets acquired. Goodwill generated from the Matrix acquisition is included in the European segment and is deductible for income tax purposes. The results of the operations of Matrix have been included in the Company’s Consolidated Statement of Income since the completion of the acquisition and did not have a material impact on consolidated fiscal 2014 financial results, and as such, pro forma information has not been presented. Revere Data On September 1, 2013, FactSet paid $15.3 million in cash to acquire the assets of Revere Data, LLC (“Revere”) to complement the Company's commitment to provide its clients with insightful content sets. Revere classifies companies into a unique industry taxonomy and offers a database of supply chain relationships that helps investors identify companies’ interrelationships and mutual dependencies. As of the date of acquisition, Revere had annual subscriptions of $5 million. The opportunity for FactSet to offer this data to new and existing clients contributed to a purchase price in excess of fair value of the Revere net tangible and intangible assets. As a result, FactSet recorded goodwill in connection with this transaction. The purchase price was allocated to Revere’s net tangible and intangible assets based upon their estimated fair value as of the date of acquisition. Allocation of the purchase price to the assets acquired and liabilities assumed was finalized during the second quarter of fiscal 2014. There were no material adjustments between the preliminary and final allocation of purchase price. The final Revere purchase price of $15.3 million was allocated as follows (in thousands): Tangible assets acquired $ 544 Amortizable intangible assets Data content 2,799 Client relationships 827 Non-compete agreements 162 Trade name 293 Goodwill 11,612 Total assets acquired $ 16,237 Liabilities assumed (949 ) Net assets acquired $ 15,288 Intangible assets of $4.1 million have been allocated to amortizable intangible assets consisting of data content, amortized over five years using a straight-line amortization method; client relationships, amortized over seven years using an accelerated amortization method; non-compete agreements, amortized over two years using a straight-line amortization method; and trade name, amortized over four years using a straight-line amortization method. Goodwill totaling $11.6 million represents the excess of the purchase price over the fair value of the net tangible and intangible assets acquired. Goodwill generated from the Revere acquisition is included in the U.S. segment and is deductible for income tax purposes. The results of the operations of Revere have been included in the Company’s Consolidated Statement of Income since the completion of the acquisition on September 1, 2013 and did not have a material impact on fiscal 2014 results. Pro forma information has not been presented because the effects of this acquisition were not material to the Company’s consolidated financial results. |
Note 9 - Goodwill
Note 9 - Goodwill | 12 Months Ended |
Aug. 31, 2015 | |
Disclosure Text Block Supplement [Abstract] | |
Goodwill Disclosure [Text Block] | 9 . GOODWILL Changes in the carrying amount of goodwill by segment for fiscal years ended August 31, 2015 and 2014 are as follows (in thousands): U.S. Europe Asia Pacific Total Balance at August 31, 2013 $ 167,822 $ 73,424 $ 3,327 $ 244,573 Goodwill acquired during the period 11,612 25,531 — 37,143 Foreign currency translations — 4,077 (185 ) 3,892 Balance at August 31, 2014 $ 179,434 $ 103,032 $ 3,142 $ 285,608 Goodwill acquired during the period 32,435 — — 32,435 Foreign currency translations — (9,307 ) (449 ) (9,756 ) Balance at August 31, 2015 $ 211,869 $ 93,725 $ 2,693 $ 308,287 Goodwill is not amortized as it has an estimated indefinite life. At least annually, the Company is required to test goodwill at the reporting unit level for potential impairment. Goodwill is tested for impairment based on the present value of discounted cash flows, and, if impaired, written down to fair value based on discounted cash flows. The Company has three reporting units, which are consistent with the operating segments reported as there is no discrete financial information available for the subsidiaries within each operating segment. The Company’s reporting units evaluated for potential impairment were the U.S., Europe and Asia Pacific, which reflects the level of internal reporting the Company uses to manage its business and operations. The Company performed its annual goodwill impairment test during the fourth quarter of fiscal 2015, consistent with the timing of previous years, at which time it was determined that there were no indications of impairment, with the fair value of each of the Company’s reporting units significantly exceeding carrying value. |
Note 10 - Intangible Assets
Note 10 - Intangible Assets | 12 Months Ended |
Aug. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Intangible Assets Disclosure [Text Block] | 10 . INTANGIBLE ASSETS FactSet’s identifiable intangible assets consist of acquired content databases, client relationships, software technology, non-compete agreements and trade names resulting from previous acquisitions, which have been fully integrated into the Company’s operations. The weighted average useful life of the Company’s acquired intangible assets at August 31, 2015 was 11.1 years. The Company amortizes intangible assets over their estimated useful lives, which are evaluated quarterly to determine whether events and circumstances warrant a revision to the remaining period of amortization. There were no changes to the estimate of the remaining useful lives during fiscal years 2015, 2014 and 2013. Amortizable intangible assets are tested for impairment based on undiscounted cash flows, and, if impaired, written down to fair value based on discounted cash flows. No impairment of intangible assets has been identified during any of the periods presented. The intangible assets have no assigned residual values. The gross carrying amounts and accumulated amortization totals related to the Company’s identifiable intangible assets are as follows (in thousands): At August 31, 2015 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Data content $ 39,911 $ 16,667 $ 23,244 Client relationships 27,873 18,241 9,632 Software technology 21,203 15,042 6,161 Non-compete agreements 1,058 637 421 Trade names 1,614 1,020 594 Total $ 91,659 $ 51,607 $ 40,052 At August 31, 2014 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Data content $ 56,974 $ 27,644 $ 29,320 Client relationships 25,821 17,443 8,378 Software technology 22,881 20,089 2,792 Non-compete agreements 2,465 1,881 584 Trade names 1,729 958 771 Total $ 109,870 $ 68,015 $ 41,855 During fiscal 2015, $9.1 million of intangible assets were acquired with a weighted average useful life of 6.3 years. The details of the intangible assets acquired in the Code Red acquisition during fiscal 2015 are outlined as follows (in thousands): Code Red Preliminary Intangible Assets Allocation Amortization Period (years) Acquisition Cost Software technology 6.0 $ 4,728 Client relationships 7.0 3,089 Non-compete agreements 4.0 277 Trade name 3.0 127 Total 6.3 $ 8,221 Amortization expense recorded for intangible assets during fiscal years 2015, 2014 and 2013 was $8.2 million, $8.5 million and $7.1 million, respectively. As of August 31, 2015, estimated intangible asset amortization expense for each of the next five years and thereafter are as follows (in thousands): Fiscal Year Estimated Amortization Expense 2016 $ 7,031 2017 6,949 2018 5,816 2019 4,492 2020 3,461 Thereafter 12,303 Total $ 40,052 |
Note 11 - Property, Equipment a
Note 11 - Property, Equipment and Leasehold Improvements | 12 Months Ended |
Aug. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment Disclosure [Text Block] | 11 . PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS Property, equipment and leasehold improvements consist of the following (in thousands): At August 31, 2015 2014 Leasehold improvements $ 92,427 $ 90,487 Computers and related equipment 87,732 81,853 Furniture and fixtures 33,120 29,373 Subtotal $ 213,279 $ 201,713 Less accumulated depreciation and amortization (154,015 ) (144,072 ) Property, equipment and leasehold improvements, net $ 59,264 $ 57,641 Depreciation expense was $23.1 million, $25.9 million and $28.4 million for fiscal years 2015, 2014 and 2013, respectively. |
Note 12 - Common Stock and Earn
Note 12 - Common Stock and Earnings Per Share | 12 Months Ended |
Aug. 31, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | 12 . COMMON STOCK AND EARNINGS PER SHARE On May 12, 2015, FactSet’s Board of Directors approved a 12.8% increase in the regular quarterly dividend from $0.39 to $0.44 per share, or $1.76 per share per annum. Shares of common stock outstanding were as follows (in thousands): Years Ended August 31, 2015 2014 2013 Balance, beginning of year (September 1) 41,793 43,324 44,279 Common stock issued for employee stock plans 1,213 959 2,459 Repurchases of common stock (1,689 ) (2,490 ) (3,414 ) Balance, end of year (August 31) 41,317 41,793 43,324 A reconciliation of the weighted average shares outstanding used in the basic and diluted earnings per share computations is as follows (in thousands, except per share data): Net Income (Numerator) Weighted Average Common Shares (Denominator) Per Share Amount Years Ended August 31, 2015 2014 2013 2015 2014 2013 2015 2014 2013 Basic EPS Income available to common stockholders $ 241,051 $ 211,543 $ 198,637 41,572 42,436 43,890 $ 5.80 $ 4.98 $ 4.53 Diluted EPS Dilutive effect of stock options and restricted stock 663 534 734 Income available to common stockholders $ 241,051 $ 211,543 $ 198,637 42,235 42,970 44,624 $ 5.71 $ 4.92 $ 4.45 Dilutive potential common shares consist of stock options and unvested restricted stock. There were 88,090 stock options excluded from the fiscal 2015 calculation of diluted earnings per share because their inclusion would have been anti-dilutive. There were no stock options excluded from the fiscal 2014 calculation of diluted earnings per share while 6,408 stock options were excluded from the fiscal 2013 calculation. As of August 31, 2015, 2014, 2013, 478,945, 380,653 and 1,202,685, respectively, performance-based stock options were excluded from the calculation of diluted earnings per share . |
Note 13 - Stockholders' Equity
Note 13 - Stockholders' Equity | 12 Months Ended |
Aug. 31, 2015 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | 13 . STOCKHOLDERS’ EQUITY Preferred Stock At August 31, 2015 and 2014, there were 10,000,000 shares of preferred stock ($.01 par value per share) authorized, of which no shares were issued and outstanding. FactSet’s Board of Directors may from time to time authorize the issuance of one or more series of preferred stock and, in connection with the creation of such series, determine the characteristics of each such series including, without limitation, the preference and relative, participating, optional or other special rights, and the qualifications, limitations or restrictions of the series. Common Stock At August 31, 2015 and 2014, there were 150,000,000 shares of common stock ($.01 par value per share) authorized, of which 50,328,423 and 49,110,218 shares were issued, respectively. The authorized shares of common stock are issuable for any proper corporate purpose, including future stock splits, stock dividends, acquisitions, raising equity capital or to adopt additional employee benefit plans. Treasury Stock At August 31, 2015 and 2014, there were 9,011,521 and 7,317,416 shares of treasury stock (at cost) outstanding, respectively. As a result, 41,316,902 and 41,792,802 shares of FactSet common stock were outstanding at August 31, 2015 and 2014, respectively. Share Repurchase Program On December 15, 2014, the Company’s Board of Directors approved a $300.0 million expansion of the existing share repurchase program. During fiscal 2015, the Company repurchased 1,689,337 shares for $252.8 million leaving $134.2 million authorized for future share repurchases as of August 31, 2015. During fiscal 2014, the Company repurchased 2,489,993 shares for $275.4 million. At August 31, 2014, $87.0 million remained authorized for future share repurchases. Repurchases will be made from time to time in the open market and privately negotiated transactions, subject to market conditions. No minimum number of shares to be repurchased has been fixed. There is no timeframe to complete the share repurchase program and it is expected that share repurchases will be paid for using existing and future cash generated by operations. Restricted Stock Restricted stock awards entitle the holder to shares of common stock as the awards vest over time. During fiscal 2015, 94,870 of previously granted restricted stock awards vested and were included in common stock outstanding as of August 31, 2015 (less 23,192 shares repurchased from employees at a cost of $3.1 million to cover their cost of taxes upon vesting of the restricted stock). During fiscal 2014, 135,205 of previously granted restricted stock awards vested and were included in common stock outstanding as of August 31, 2014 (less 41,093 shares repurchased from employees at a cost of $4.4 million to cover their cost of taxes upon vesting of the restricted stock). During fiscal 2014, 149,741 restricted stock awards vested. Dividends The Company’s Board of Directors declared the following dividends during the periods presented: Declaration Date Dividends Per Type Record Date Total $ Amount Payment Date August 10, 2015 $ 0.44 Regular (cash) August 31, 2015 $ 18,179 September 15, 2015 May 12, 2015 $ 0.44 Regular (cash) May 29, 2015 $ 18,274 June 16, 2015 February 11, 2015 $ 0.39 Regular (cash) February 27, 2015 $ 16,236 March 17, 2015 November 12, 2014 $ 0.39 Regular (cash) November 28, 2014 $ 16,216 December 16, 2014 August 14, 2014 $ 0.39 Regular (cash) August 29, 2014 $ 16,299 September 16, 2014 May 5, 2014 $ 0.39 Regular (cash) May 30, 2014 $ 16,386 June 17, 2014 February 11, 2014 $ 0.35 Regular (cash) February 28, 2014 $ 14,827 March 18, 2014 November 14, 2013 $ 0.35 Regular (cash) November 29, 2013 $ 15,046 December 17, 2013 August 15, 2013 $ 0.35 Regular (cash) August 31, 2013 $ 15,164 September 17, 2013 May 14, 2013 $ 0.35 Regular (cash) May 31, 2013 $ 15,413 June 18, 2013 February 21, 2013 $ 0.31 Regular (cash) February 28, 2013 $ 13,510 March 19, 2013 November 15, 2012 $ 0.31 Regular (cash) November 30, 2012 $ 13,746 December 18, 2012 All of the above cash dividends were paid from existing cash resources. Future dividend payments will depend on the Company’s earnings, capital requirements, financial condition and other factors considered relevant by the Company and is subject to final determination by the Company’s Board of Directors. |
Note 14 - Stock Option and Reti
Note 14 - Stock Option and Retirement Plans | 12 Months Ended |
Aug. 31, 2015 | |
Disclosure Text Block Supplement [Abstract] | |
Compensation and Employee Benefit Plans [Text Block] | 1 4 . STOCK OPTION AND RETIREMENT PLANS Stock Options The FactSet Research Systems Inc. 2004 Stock Option and Award Plan, as Amended and Restated (the “Option Plan”) provides for the grant of share-based awards, including stock options and restricted stock awards to employees of FactSet. The expiration date of the Option Plan is December 14, 2020. Stock options granted under the Option Plan expire either seven or ten years from the date of grant and the majority vest ratably over a period of five years. Options become vested and exercisable provided the employee continues employment with the Company through the applicable vesting date and remain exercisable until expiration or cancellation. Options are not transferable or assignable other than by will or the laws of descent and distribution. During the grantee’s lifetime, the options may be exercised only by the grantee. Stock Option Activity In fiscal years 2015, 2014 and 2013, stock options to purchase 828,652, 391,478 and 1,674,966 shares of common stock, respectively, were granted to existing employees and non-employee directors of the Company. These options have a weighted average grant date exercise price of $141.79, $106.73 and $92.21 for fiscal years 2015, 2014 and 2013, respectively. A summary of stock option activity is as follows: (in thousands, except per share data) Number Outstanding Weighted Average Exercise Price Per Share Balance at August 31, 2012 6,083 $ 64.76 Granted – non performance-based 645 92.22 Granted – performance-based 1,011 92.22 Granted – non-employee Directors grant 19 91.06 Exercised (2,286 ) 52.25 Forfeited (1) (743 ) 93.84 Balance at August 31, 2013 4,729 $ 75.95 Granted – non performance-based 174 103.36 Granted – performance-based 203 109.56 Granted – non-employee Directors grant 14 107.65 Exercised (789 ) 57.56 Forfeited (2) (849 ) 91.98 Balance at August 31, 2014 3,482 $ 79.67 Granted – non performance-based 677 140.49 Granted – performance-based 138 148.52 Granted – non-employee Directors grant 14 138.48 Exercised (1,060 ) 63.03 Forfeited (134 ) 106.01 Balance at August 31, 2015 3,117 $ 100.71 (1) In November 2011, FactSet granted 665,551 performance-based employee stock options. None of these performance-based stock options granted vested because FactSet did not achieve certain performance levels during the two fiscal years ended August 31, 2013. As such, these stock options were recorded as forfeitures in August 2013. (2) In November 2012, FactSet granted 1,011,510 performance-based employee stock options. Based upon the actual growth in both organic ASV and diluted EPS during the two fiscal years ended August 31, 2014, 20% of the shares became eligible to vest on Au gust 31, 2014 and the remaining were recorded as forfeitures in August 2014. Stock Options Outstanding and Exercisable The following table summarizes ranges of outstanding and exercisable options as of August 31, 2015 (in thousands, except per share data and the weighted average remaining years of contractual life): Outstanding Exercisable Range of Exercise Prices Per Share Number Outstanding Weighted Average Weighted Aggregate Intrinsic Value Number Exercisable Weighted Aggregate $35.80 – $63.09 255 1.0 $ 54.62 $ 26,340 255 $ 54.62 $ 26,340 $66.46 – $66.81 351 1.2 $ 66.47 $ 32,098 351 $ 66.47 $ 32,098 $87.26 – $90.92 372 5.6 $ 90.14 $ 25,213 169 $ 89.44 $ 11,574 $91.06 – $92.22 654 7.1 $ 92.19 $ 42,986 336 $ 92.20 $ 22,083 $94.84 – $96.10 326 6.0 $ 94.88 $ 20,550 227 $ 94.85 $ 14,317 $102.01 – $110.31 358 8.2 $ 106.88 $ 18,273 14 $ 107.64 $ 704 $131.31 – $139.02 484 9.1 $ 131.91 $ 12,586 — $ — $ — $148.52 – $166.74 317 9.6 $ 157.21 $ 225 — $ — $ — Total Fiscal 2015 3,117 6.3 $ 100.71 $ 178,271 1,352 $ 78.70 $ 107,116 Prior Year Amounts August 31, 2014 August 31, 2013 Number of Shares Weighted Average Exercise Price Per Share Number of Shares Weighted Average Exercise Price Per Share Outstanding at fiscal year end 3,482 $ 79.67 4,729 $ 75.95 Exercisable at fiscal year end 1,899 $ 68.78 1,925 $ 59.70 The aggregate intrinsic value of in-the-money stock options exercisable at August 31, 2015 and 2014 was $107.1 million and $111.3 million, respectively. Aggregate intrinsic value represents the difference between the Company’s closing stock price of $157.92 at August 31, 2015 and the exercise price multiplied by the number of options exercisable as of that date. The weighted average remaining contractual life of stock options exercisable at August 31, 2015 and 2014 was 3.9 years and 3.4 years, respectively. The total pre-tax intrinsic value of stock options exercised during fiscal 2015, 2014 and 2013 was $92.7 million, $44.0 million, and $99.1 million, respectively. Performance-based Stock Options Performance-based stock options require management to make assumptions regarding the likelihood of achieving Company performance targets. The number of performance-based options that vest will be predicated on the Company achieving performance levels during the measurement period subsequent to the date of grant. Dependent on the financial performance levels attained by FactSet, a percentage of the performance-based stock options will vest to the grantees of those stock options. However, there is no current guarantee that such options will vest in whole or in part. July 2012 Performance-based Option Grant Review In July 2012, FactSet granted 241,546 performance-based employee stock options, which are eligible to vest in 20% tranches depending upon future StreetAccount user growth through August 31, 2017. During the fourth quarter of fiscal 2013, the first growth target as outlined within the terms of the grant was achieved, thus 20% or 48,314 options vested on August 31, 2013. The second 20% tranche vested on August 31, 2014 as a result of accelerated expansion of Street Account users during fiscal 2014. During the fourth quarter of fiscal 2015, the third growth target was achieved, thus the third 20% tranche vested on August 31, 2015. As of August 31, 2015, the Company estimates that the fourth 20% tranche will vest by August 31, 2017, resulting in unamortized stock-based compensation expense of $0.6 million to be recognized over the remaining vesting period of 2.0 years. A change, up or down, in the actual financial performance levels achieved by StreetAccount in future fiscal years could result in the following changes to the current estimate of the vesting percentage and related expense (in thousands): Vesting Percentage Cumulative Catch-up Adjustment* Remaining Expense to be Recognized Fourth 20% (current expectation) $ 0 $ 619 Fifth 20% $ 1,216 $ 1,003 * Amounts represent the cumulative catch-up adjustment to be recorded if there was a change in the vesting percentage as of August 31, 2015. November 2012 Annual Employee Performance-based Option Grant Review In November 2012, FactSet granted 1,011,510 performance-based employee stock options. The number of performance-based options that would become eligible to vest was based upon the Company achieving performance levels for both organic ASV and diluted earnings per share during the two fiscal years ended August 31, 2014. Based upon the actual growth in organic ASV and diluted EPS through August 31, 2014, 20%, or 185,014 (net of options forfeited through the end of fiscal 2014), of the previously granted shares became eligible to vest on August 31, 2014. The remaining 80% of the performance-based options previously granted were recorded as forfeitures in the fourth quarter of fiscal 2014. As of the end of fiscal 2015, total unamortized stock-based compensation expense of $0.9 million will be recognized over the remaining vesting period of 2.1 years in connection with this grant. February 2015 Performance-based Option Grant Review In connection with the acquisition of Code Red during the second quarter of fiscal 2015, FactSet granted 137,522 performance-based stock options. These performance-based options are eligible to vest four years from date of grant if certain Code Red ASV and operating margin targets are achieved over the measurement period. The option holders must also remain employed by FactSet to be eligible to vest. Of the total grant, 68,761 performance-based options are eligible for vesting based on achieving the growth targets over a four year measurement period ending February 28, 2019 and the remaining 68,761 options are eligible to cliff vest based on a two year measurement period ending February 28, 2017. As of August 31, 2015, total unamortized stock-based compensation of $2.1 million will be recognized as expense over the remaining vesting period of 3.4 years. A change, up or down, in the actual financial performance levels achieved by Code Red in future fiscal years could result in the following changes to the current estimate of the vesting percentage and related expense (in thousands): Vesting Percentage Cumulative Catch-up Adjustment* Remaining Expense to be Recognized 0% $ (338 ) $ 0 10% $ (253 ) $ 516 40% (current expectation) $ 0 $ 2,063 70% $ 253 $ 3,609 100% $ 506 $ 5,156 * Amounts represent the cumulative catch-up adjustment to be recorded if there was a change in the vesting percentage as of August 31, 2015. Other Performance-based Option Grants In connection with the acquisitions of Matrix and Revere, FactSet granted 165,949 and 36,695 performance-based stock options, respectively, during fiscal 2014. The performance-based options granted in connection with the acquisition of Matrix will vest only if ASV and operating margin targets related to the Matrix business are met during a five year measurement period ending December 23, 2018, and the option holders remain employed by FactSet. As of August 31, 2015 FactSet does not believe these targets are probable of being achieved, and as such, no stock-based compensation expense is expected to be realized in connection with these options. Of the 36,695 performance-based stock options granted in connection with the Revere acquisition, 18,553 options became eligible to vest based upon the achievement of certain ASV and operating margins during the measurement period ending August 31, 2015. This results in unamortized stock-based compensation expense of $0.4 million to be recognized over the remaining vesting period of 3.0 years. Of the remaining 18,142 performance-based options previously granted, 6,184 were recorded as forfeitures in the fourth quarter of fiscal 2015 while the remaining 11,958 vest 80% after four years if the measurement criterion is achieved over the four year period ending August 31, 2017. Restricted Stock and Stock Unit Awards The Company’s Option Plan plans permit the issuance of restricted stock and restricted stock units. Restricted stock awards are subject to continued employment over a specified period. Restricted Stock and Stock Unit Awards Activity In fiscal years 2015, 2014 and 2013, FactSet granted 54,862, 204,124 and 131,702 restricted stock awards to employees of the Company, respectively. These awards have a weighted average grant date fair value of $138.23, $101.95 and $85.80 for fiscal years 2015, 2014 and 2013, respectively. As of August 31, 2015, a total of 313,407 shares of restricted stock and restricted stock units were unvested and outstanding, which results in unamortized stock-based compensation of $20.5 million to be recognized as stock-based compensation expense over the remaining vesting period of 3.2 years. A summary of restricted stock award activity is as follows: (in thousands, except per award data) Number Outstanding Weighted Average Grant Date Fair Value Per Award Balance at August 31, 2012 383 $ 71.34 Granted (restricted stock and stock units) 132 85.80 Vested (1) (150 ) 62.34 Canceled/forfeited (7 ) 81.38 Balance at August 31, 2013 358 $ 80.43 Granted (restricted stock and stock units) 204 101.95 Vested (2) (135 ) 84.48 Canceled/forfeited (59 ) 86.39 Balance at August 31, 2014 368 $ 89.77 Granted (restricted stock and stock units) 55 138.23 Vested (3) (95 ) 70.94 Canceled/forfeited (15 ) 101.04 Balance at August 31, 2015 313 $ 103.34 (1) Of the total 149,741 restricted stock awards that vested during fiscal 2013, 87,758 related to awards granted on October 23, 2009. These restricted stock awards cliff vested 60% after three years (on October 23, 2012) and 40% after five years (on October 23, 2014). An additional 55,572 awards that vested in fiscal 2013 related to awards granted on February 9, 2010 which cliff vested 100% after three years (on February 9, 2013). The remaining 6,411 restricted stock awards that vested were previously granted between June 2010 and July 2011 and vesting occurred when certain ASV targets were met in fiscal 2013. (2) The 135,205 restricted stock awards that vested during fiscal 2014 were comprised of: 62,544 of awards granted on November 8, 2010, which cliff vested 60% after three years (on November 8, 2013) with the remaining 40% cliff vesting after five years (on November 8, 2015); 29,087 of awards granted on April 14, 2011, which vested 100% after three years on April 14, 2014; 26,344 restricted stock awards that were granted on April 8, 2013, which cliff vest 20% annually upon the anniversary date of the grant; and 17,230 awards relating to restricted stock granted on February 9, 2010 which cliff vested 50% after four years (on February 9, 2014). (3) The 94,870 restricted stock awards that vested during fiscal 201 5 were comprised of: 53,495 of awards granted on October 23, 2014 , which cliff vested 60% after three years (on October 23, 2012) and 40% after five years (on October 23, 2014 ) ; 14,683 restricted stock awards that were granted on April 8, 2013, which cliff vest 20% annually upon the anniversary date of the grant; 17,228 awards relating to restricted stock granted on February 9, 2010 ; and 9,464 restricted stock awards that were previously granted between November 2013 and November 2014 . Share-based Awards Available for Grant A summary of share-based awards available for grant is as follows (in thousands): Share-based Awards Available for Grant under the Employee Stock Option Plan Share-based Awards Available for Grant under the Non-Employee Stock Option Plan Balance at August 31, 2012 4,340 126 Granted – non performance-based options (645 ) — Granted – performance-based options (1,011 ) — Granted – non-employee Directors grant — (19 ) Restricted stock awards granted (1) (329 ) — Share-based awards canceled/forfeited (2) 761 — Balance at August 31, 2013 3,116 107 Granted – non performance-based options (174 ) — Granted – performance-based options (203 ) — Granted – non-employee Directors grant — (14 ) Restricted stock awards granted (1) (510 ) — Share-based awards canceled/forfeited (2) 993 9 Balance at August 31, 2014 3,222 102 Granted – non performance-based options (677 ) — Granted – performance-based options (138 ) — Granted – non-employee Directors grant — (14 ) Restricted stock awards granted (1) (137 ) — Share-based awards canceled/forfeited (2) 171 — Balance at August 31, 2015 2,441 88 (1) Each restricted stock award granted is equivalent to 2.5 shares granted under the Company’s Option P lan. (2) Under the Company’s O ption P lan, for each restricted stock award canceled/forfeited, an equivalent of 2.5 shares is added back to the available share-based awards balance. Employee Stock Purchase Plan At the 2014 Annual Meeting of Stockholders of FactSet held on December 16, 2014, the stockholders of FactSet voted on and approved the Amended and Restated FactSet Research Systems Inc. 2008 Employee Stock Purchase Plan (the “Purchase Plan”), including the reservation of an additional 500,000 shares of common stock for issuance thereunder. The amendment and restatement of the Purchase Plan was approved by FactSet’s Board of Directors on October 23, 2014 and became effective with stockholder approval on December 16, 2014. As a result of such stockholder approval, the Purchase Plan was amended and modified to increase the maximum number of shares of common stock authorized for issuance over the term of the Purchase Plan by 500,000 shares. There is no expiration date for the Purchase Plan. Shares of FactSet common stock may be purchased by eligible employees under the Purchase Plan in three-month intervals at a purchase price equal to at least 85% of the lesser of the fair market value of the Company’s common stock on either the first day or the last day of each three-month offering period. Employee purchases may not exceed 10% of their gross compensation during an offering period. During fiscal 2015, employees purchased 63,265 shares as compared to 74,889 shares in fiscal 2014 and 75,281 shares in fiscal 2013. At August 31, 2015, 481,616 shares were reserved for future issuance under the Purchase Plan. 401(k) Plan The Company established a 401(k) Plan (the “401(k) Plan”) in fiscal 1993. The 401(k) Plan is a defined contribution plan covering all full-time, U.S. employees of the Company and is subject to the provisions of the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1986. Each year, participants may contribute up to 60% of their eligible annual compensation, subject to annual limitations established by the Internal Revenue Code. The Company matches up to 4% of employees’ earnings, capped at the IRS annual maximum. Company matching contributions are subject to a five year graduated vesting schedule. All full-time, U.S. employees are eligible for the matching contribution by the Company. The Company contributed $8.6 million, $7.7 million, and $7.5 million in matching contributions to employee 401(k) accounts during fiscal 2015, 2014 and 2013, respectively. |
Note 15 - Stock-based Compensat
Note 15 - Stock-based Compensation | 12 Months Ended |
Aug. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 15 . STOCK-BASED COMPENSATION The Company recognized total stock-based compensation expense of $26.4 million, $22.9 million and $40.0 million in fiscal 2015, 2014, and 2013, respectively. As of August 31, 2015, $60.5 million of total unrecognized compensation expense related to non-vested awards is expected to be recognized over a weighted average period of 3.4 years. There was no stock-based compensation capitalized as of August 31, 2015 and 2014, respectively. Employee Stock Option Fair Value Determinations The Company utilizes the lattice-binomial option-pricing model (“binomial model”) to estimate the fair value of new employee stock option grants. The Company’s determination of fair value of stock option awards on the date of grant using the binomial model is affected by the Company’s stock price as well as assumptions regarding a number of variables. These variables include, but are not limited to the Company’s expected stock price volatility over the term of the awards, interest rates, option forfeitures and employee stock option exercise behaviors. Q1 2015 462,913 non performance-based employee stock options were granted at a weighted average exercise price of $131.31 and a weighted average estimated fair value of $37.67 per share. Q2 2015 25,075 non performance-based employee stock options and 137,522 performance-based employee stock options were granted at a weighted average exercise price of $147.05 and a weighted average estimated fair value of $43.05 per share. Q3 2015 61,210 non performance-based employee stock options were granted at a weighted average exercise price of $159.14 and a weighted average estimated fair value of $44.95 per share. Q4 2015 128,090 non performance-based employee stock options were granted at a weighted average exercise price of $165.02 and a weighted average estimated fair value of $54.10 per share. Q1 2014 35,508 non performance-based employee stock options and 36,695 performance-based employee stock options were granted at a weighted average exercise price of $109.49 and a weighted average estimated fair value of $31.78 per share. Q2 2014 138,902 non performance-based employee stock options and 165,949 performance-based employee stock options were granted at a weighted average exercise price of $106.03 and a weighted average estimated fair value of $29.14 per share. Q3 2014 There were no employee stock options granted during the third quarter of fiscal 2014. Q4 2014 There were no employee stock options granted during the fourth quarter of fiscal 2014. Q1 2013 635,308 non performance-based employee stock options and 1,011,510 performance-based employee stock options were granted at a weighted average exercise price of $92.22 and a weighted average estimated fair value of $26.87 per share. Q2 2013 9,367 non performance-based employee stock options were granted at a weighted average exercise price of $92.55 and a weighted average estimated fair value of $26.69 per share. Q3 2013 There were no employee stock options granted during the third quarter of fiscal 2013. Q4 2013 There were no employee stock options granted during the fourth quarter of fiscal 2013. The weighted average estimated fair value of employee stock options granted during fiscal 2015, 2014 and 2013 was determined using the binomial model with the following weighted average assumptions: 2015 2014 2013 Term structure of risk-free interest rate 0.01% - 2.3% 0.01% - 2.6% 0.16% - 1.91% Expected life (years) 5.8 - 9.4 7.6 - 7.8 7.6 - 7.8 Term structure of volatility 20% - 31% 23% - 33% 24% - 33% Dividend yield 1.32% 1.35% 1.30% Weighted average estimated fair value $41.87 $29.64 $26.87 Weighted average exercise price $141.84 $106.69 $92.22 Fair value as a percentage of exercise price 29.5% 27.8% 29.1% The risk-free interest rate assumption for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. Expected volatility is based on a combination of historical volatility of the Company’s stock and implied volatilities of publicly traded options to buy FactSet common stock with contractual terms closest to the expected life of options granted to employees. The approach to utilize a mix of historical and implied volatility was based upon the availability of actively traded options on the Company’s stock and the Company’s assessment that a combination of implied volatility and historical volatility is best representative of future stock price trends. The Company uses historical data to estimate option exercises and employee termination within the valuation model. The dividend yield assumption is based on the Company’s history and expectation of dividend payouts. The expected life of employee stock options represents the weighted average period the stock options are expected to remain outstanding and is a derived output of the binomial model. The binomial model estimates employees exercise behavior based on the option’s remaining vested life and the extent to which the option is in-the-money. The binomial model estimates the probability of exercise as a function of these two variables based on the entire history of exercises and cancellations of all past option grants made by the Company. Non-Employee Director Stock Option Fair Value Determinations The 2008 Non-Employee Directors’ Stock Option Plan (the “Directors’ Plan”) provides for the grant of share-based awards, including stock options, to non-employee directors of FactSet. A total of 250,000 shares of FactSet common stock have been reserved for issuance under the Directors’ Plan. The expiration date of the Directors’ Plan is December 1, 2018. The Company utilizes the Black-Scholes model to estimate the fair value of new non-employee Director stock option grants. The Company’s determination of fair value of share-based payment awards on the date of grant is affected by the Company’s stock price as well as assumptions regarding a number of variables. These variables include, but are not limited to the Company’s expected stock price volatility over the term of the awards, interest rates, option forfeitures and employee stock option exercise behaviors. Fiscal 2015 On January 15, 2015, FactSet granted 13,842 stock options to the Company’s non-employee Directors at a weighted average estimated fair value of $28.18 per share, using the Black-Scholes option-pricing model with the following weighted average assumptions: Risk-free interest rate 1.45 % Expected life (years) 5.4 Expected volatility 23 % Dividend yield 1.30 % Fiscal 2014 On January 15, 2014, FactSet granted 14,424 stock options to the Company’s non-employee Directors at a weighted average estimated fair value of $27.04 per share, using the Black-Scholes option-pricing model with the following weighted average assumptions: Risk-free interest rate 1.66 % Expected life (years) 5.4 Expected volatility 29 % Dividend yield 1.35 % Fiscal 2013 On January 15, 2013, FactSet granted 18,781 stock options to the Company’s non-employee Directors at a weighted average estimated fair value of $24.23 per share, using the Black-Scholes option-pricing model with the following weighted average assumptions: Risk-free interest rate 0.89 % Expected life (years) 5.4 Expected volatility 32 % Dividend yield 1.30 % The risk-free interest rate assumption for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. Expected volatility is based on the historical volatility of the Company’s stock. The Company uses historical data to estimate option exercises and non-employee director terminations within the valuation model. The dividend yield assumption is based on the Company’s history and expectation of dividend payouts. Restricted Stock Fair Value Determinations Restricted stock granted to employees entitle the holder to shares of common stock as the award vests over time, but not to dividends declared on the underlying shares while the restricted stock is unvested. The grant date fair value of restricted stock awards are measured by reducing the grant date price of FactSet’s share by the present value of the dividends expected to be paid on the underlying stock during the requisite service period, discounted at the appropriate risk-free interest rate. Restricted stock awards are amortized to expense over the vesting period. Fiscal 2015 – 9,384 restricted stock units with a fair value of $127.88 were granted on November 3, 2014. – 841 shares of restricted stock with a fair value of $124.18 were granted on November 3, 2014. – 15,070 shares of restricted stock with a fair value of $132.71 were granted on December 17, 2014. – 1,724 restricted stock units with a fair value of $145.01 were granted on February 9, 2015. – 21,294 shares of restricted stock with a fair value of $140.88 were granted on February 9, 2015. – 397 shares of restricted stock with a fair value of $151.50 were granted on May 1, 2015. – 448 shares of restricted stock with a fair value of $153.89 were granted on May 1, 2015. – 5,704 shares of restricted stock with a fair value of $157.84 were granted on July 31, 2015. Fiscal 2014 – 7,744 restricted stock units with a fair value of $103.30 were granted on September 17, 2013. – 153,972 shares of restricted stock with a fair value of $102.22 were granted on November 1, 2013. – 30,144 shares of restricted stock with a fair value of $102.84 were granted on December 23, 2013. – 12,264 restricted stock units with a fair value of $95.45 were granted on February 3, 2014. Fiscal 2013 – 131,702 restricted stock units granted on April 8, 2013 with a fair value of $85.80. Employee Stock Purchase Plan Fair Value Determinations During fiscal 2015, employees purchased 63,265 shares at a weighted average price of $122.76 compared to 74,889 shares at a weighted average price of $89.28 in fiscal 2014 and 75,281 shares at a weighted average price of $80.77 in fiscal 2013. Stock-based compensation expense recorded during fiscal 2015, 2014, and 2013 relating to the employee stock purchase plan was $1.5 million, $1.3 million and $1.2 million, respectively. The Company uses the Black-Scholes model to calculate the estimated fair value for the employee stock purchase plan. The weighted average estimated fair value of employee stock purchase plan grants during fiscal years 2015, 2014 and 2013 were $24.05, $17.76 and $15.79 per share, respectively, with the following weighted average assumptions: 2015 2014 2013 Risk-free interest rate 0.03 % 0.04 % 0.07 % Expected life (months) 3 3 3 Expected volatility 16.3 % 9.8 % 9.8 % Dividend yield 1.15 % 1.38 % 1.38 % Accuracy of Fair Value Estimates The Company is responsible for determining the assumptions used in estimating the fair value of its share-based payment awards. The Company’s determination of fair value of share-based payment awards on the date of grant using an option-pricing model is affected by the Company’s stock price as well as assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to the Company’s expected stock price volatility over the term of the awards, interest rates, option forfeiture rates and actual and projected employee stock option exercise behaviors. Option-pricing models were developed for use in estimating the value of traded options that have no vesting or hedging restrictions and are fully transferable. |
Note 16 - Income Taxes
Note 16 - Income Taxes | 12 Months Ended |
Aug. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | 16 . INCOME TAXES Income tax expense is based on taxable income determined in accordance with current enacted laws and tax rates. Deferred income taxes are recorded for the temporary differences between the financial statement and tax bases of assets and liabilities using currently enacted tax rates. Provision for Income Taxes The provision for income taxes is as follows (in thousands): Years Ended August 31, 2015 2014 2013 U.S. operations $ 263,411 $ 242,839 $ 220,778 Non-U.S. operations 70,343 60,625 50,132 Income before income taxes $ 333,754 $ 303,464 $ 270,910 U.S. operations $ 88,147 $ 81,998 $ 61,328 Non-U.S. operations 4,556 9,923 10,945 Total provision for income taxes $ 92,703 $ 91,921 $ 72,273 Effective tax rate 27.8 % 30.3 % 26.7 % The components of the provision for income taxes consist of the following (in thousands): Years Ended August 31, 2015 2014 2013 Current U.S. federal $ 82,885 $ 77,368 $ 52,625 U.S. state and local 4,419 3,972 3,309 Non-U.S. 6,368 10,350 11,188 Total current taxes $ 93,672 91,690 $ 67,122 Deferred U.S. federal $ 720 $ 547 $ 5,036 U.S. state and local 123 111 358 Non-U.S. (1,812 ) (427 ) (243 ) Total deferred taxes $ (969 ) $ 231 $ 5,151 Total provision for income taxes $ 92,703 $ 91,921 $ 72,273 The provision for income taxes differs from the amount of income tax determined by applying the U.S. statutory federal income tax rate to income before income taxes as a result of the following factors (expressed as a percentage of income before income taxes): Years Ended August 31, 2015 2014 2013 Tax at U.S. Federal statutory tax rate 35.0 % 35.0 % 35.0 % Increase (decrease) in taxes resulting from: State and local taxes, net of U.S. federal income tax benefit 1.6 1.8 2.0 Foreign income at other than U.S. rates (3.0 ) (2.9 ) (2.5 ) Domestic production activities deduction (2.2 ) (2.1 ) (2.6 ) Income tax benefits from R&D tax credits (2.7 ) (1.1 ) (4.1 ) Income tax benefits from foreign tax credits (0.3 ) (0.4 ) (1.2 ) Other, net (0.6 ) 0.0 0.1 Effective tax rate 27.8 % (1) 30.3 % 26.7 % (2) (1) The fiscal 201 5 effective tax rate of 27.8 % includes income tax benefits of $8.8 million primarily from the reenactment of the U.S. Federal R&D Tax Credit (the “U.S. Federal R& D tax credit”) in December 2014, finalizing prior year tax returns and other discrete items . (2) The fiscal 2013 effective tax rate of 26.7% includes income tax benefits of $7.2 million primarily from the r eenactment of the U.S. Federal R&D tax credit in January 2013 and finalizing prior year tax returns . Deferred Tax Assets and Liabilities The significant components of deferred tax assets that are recorded in the Consolidated Balance Sheets were as follows (in thousands): At August 31, 2015 2014 Current Receivable reserve $ 541 $ 597 Deferred rent 794 1,067 Other 770 177 Net current deferred tax assets $ 2,105 $ 1,841 Non-current Depreciation on property, equipment and leasehold improvements $ 10,880 $ 9,831 Deferred rent 5,108 3,572 Stock-based compensation 17,562 18,160 Purchased intangible assets, including acquired technology (17,533 ) (10,750 ) Other 4,582 1,564 Net non-current deferred tax assets $ 20,599 $ 22,377 Total deferred tax assets $ 22,704 $ 24,218 The significant components of deferred tax liabilities that are recorded in the Consolidated Balance Sheets were as follows (in thousands): At August 31, 2015 2014 Current Other $ 562 $ — Net current deferred tax liabilities $ 562 $ — Non-current Purchased intangible assets, including acquired technology $ 1,886 $ 3,478 Stock-based compensation — (860 ) Other (189 ) 303 Net non-current deferred tax liabilities $ 1,697 $ 2,921 Total deferred tax liabilities $ 2,259 $ 2,921 A provision has not been made for additional U.S. Federal taxes as all undistributed earnings of foreign subsidiaries are considered to be invested indefinitely or will be repatriated free of additional tax. The amount of such undistributed earnings of these foreign subsidiaries included in consolidated retained earnings was immaterial at August 31, 2015 and 2014. As such, the unrecognized deferred tax liability on those undistributed earnings was immaterial. These earnings could become subject to additional tax if they are remitted as dividends, loaned to FactSet, or upon sale of the subsidiary’s stock. Unrecognized Tax Positions Applicable accounting guidance prescribes a comprehensive model for the financial statement recognition, measurement, classification and disclosure of uncertain tax positions that a company has taken or expects to take on a tax return. A company can recognize the financial effect of an income tax position only if it is more likely than not (greater than 50%) that the tax position will prevail upon tax examination, based solely on the technical merits of the tax position. Otherwise, no benefit or expense can be recognized in the consolidated financial statements. The tax benefits recognized are measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. Additionally, companies are required to accrue interest on all tax exposures for which reserves have been established consistent with jurisdictional tax laws. As of August 31, 2015, the Company had gross unrecognized tax benefits totaling $6.8 million, including $1.3 million of accrued interest, recorded as non-current taxes payable in the consolidated balance sheet. Approximately $1.0 million of these unrecognized tax benefits would have affected the current year effective tax rate if realized as of August 31, 2015. As of August 31, 2014, the Company had gross unrecognized tax benefits totaling $5.5 million, including $1.1 million of accrued interest, recorded as non-current taxes payable in the consolidated balance sheet. The Company recognizes interest and penalty charges related to unrecognized tax benefits as income tax expense, which is consistent with the recognition in prior reporting periods. The Company recognized interest charges of $0.2 million, $0.1 million and less than $0.1 million during the fiscal years ended August 31, 2015, 2014 and 2013, respectively. Unrecognized tax benefits represent tax positions taken on tax returns but not yet recognized in the consolidated financial statements. When applicable, the Company adjusts the previously recorded tax expense to reflect examination results when the position is ultimately settled. The Company regularly engages in discussions and negotiations with tax authorities regarding tax matters in various jurisdictions. It is reasonably possible that certain federal, foreign, and state tax matters may be concluded in the next 12 months. However, FactSet has no reason to believe that such audits will result in the payment of additional taxes and/or penalties that would have a material adverse effect on the Company’s results of operations or financial position, beyond current estimates. Any changes in accounting estimates resulting from new developments with respect to uncertain tax positions will be recorded as appropriate. The Company does not currently anticipate that the total amounts of unrecognized tax benefits will significantly change within the next 12 months. The following table summarizes the changes in the balance of gross unrecognized tax benefits (in thousands): Unrecognized income tax benefits at August 31, 2012 $ 5,464 Additions based on tax positions related to the current year 1,372 Additions for tax positions of prior years 986 Statute of limitations lapse (1,103 ) Reductions from settlements with taxing authorities (1,284 ) Unrecognized income tax benefits at August 31, 2013 $ 5,435 Additions based on tax positions related to the current year 921 Additions for tax positions of prior years 628 Statute of limitations lapse (717 ) Reductions from settlements with taxing authorities (766 ) Unrecognized income tax benefits at August 31, 2014 $ 5,501 Additions based on tax positions related to the current year 962 Additions for tax positions of prior years 1,122 Statute of limitations lapse (809 ) Unrecognized income tax benefits at August 31, 2015 $ 6,776 In the normal course of business, the Company’s tax filings are subject to audit by federal, state and foreign tax authorities. At August 31, 2015, the Company remained subject to examination in the following major tax jurisdictions for the tax years as indicated below: Major Tax Jurisdictions Open Tax Years U.S. Federal 2013 through 2015 State (various) 2010 through 2015 Europe United Kingdom 2013 through 2015 France 2012 through 2015 |
Note 17 - Debt
Note 17 - Debt | 12 Months Ended |
Aug. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Long-term Debt [Text Block] | 17. DEBT FactSet’s debt obligations consisted of the following (in thousands): At August 31, 2015 2014 2015 Revolving Credit Facility (maturity date of September 21, 2018) $ 35,000 $ — Total Outstanding Debt at fiscal year-end $ 35,000 $ — On February 6, 2015, the Company entered into a Credit Agreement (the “Credit Agreement”) between FactSet, as the borrower, and Bank of America, N.A., as the lender (the “Lender”). At that date, the Credit Agreement provided for a $35.0 million revolving credit facility (the “Revolving Credit Facility”), under which the Company could request borrowings. The Credit Agreement also allowed FactSet to arrange for additional borrowings for an aggregate amount of up to $265.0 million provided that any such request for additional borrowings was in a minimum amount of $25.0 million. For purposes of funding its acquisition of Code Red on February 6, 2015, FactSet borrowed $35.0 million in the form of a Eurodollar rate loan (the “Loan”) under the Revolving Credit Facility. The proceeds of the Loan made under the Credit Agreement could be used for permitted acquisitions and general corporate purposes. There are no prepayment penalties if the Company elects to prepay the Loan prior to its scheduled maturity date. The principal balance is payable in full on the maturity date. The $35.0 million borrowed under the Loan bears interest on the outstanding principal amount at a rate equal to the Eurodollar rate plus 0.50% and is reported as long-term debt within the Consolidated Balance Sheet at August 31, 2015. The Eurodollar rate is defined in the Credit Agreement as the rate per annum equal to one-month LIBOR. Interest on the Loan is payable quarterly in arrears and on the maturity date. During fiscal 2015 the Company paid approximately $0.1 million in interest on its outstanding Loan amount. On September 21, 2015, the Company amended the Credit Agreement to borrow an additional $265.0 million (the “Second Amendment) in order to fund FactSet’s acquisition of Portware, LLC (“Portware”) which was announced on September 22, 2015, and closed on October 16, 2015. The maturity date on all outstanding loan amounts (which total $300.0 million as of October 30, 2015) is September 21, 2018. The Second Amendment also allows FactSet, subject to certain requirements, to arrange for additional borrowings with the Lender for an aggregate amount of up to $400.0 million, provided that any such request for additional borrowings must be in a minimum amount of $25.0 million. For more information on the Portware acquisition, see Note 21, Subsequent Events. As of August 31, 2015, no commitment fee was owed by FactSet since it borrowed the then-full amount of the Revolving Credit Facility on February 6, 2015. Other fees incurred by the Company, such as legal costs to draft and review the Credit Agreement, totaled less than $0.1 million and were capitalized as loan origination fees. These loan origination fees are being amortized into interest expense over the term of the Loan (three years) using the effective interest method and totaled less than $0.1 million in fiscal 2015. The Credit Agreement contains covenants restricting certain FactSet activities, which are usual and customary for this type of loan. In addition, the Credit Agreement requires that FactSet must maintain a consolidated leverage ratio, as measured by total funded debt/EBITDA below a specified level as of the end of each fiscal quarter. The Company was in compliance with all of the covenants of the Credit Agreement as of August 31, 2015. |
Note 18 - Commitments and Conti
Note 18 - Commitments and Contingencies | 12 Months Ended |
Aug. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | 18 . COMMITMENTS AND CONTINGENCIES Commitments represent obligations, such as those for future purchases of goods or services that are not yet recorded on the balance sheet as liabilities. FactSet records liabilities for commitments when incurred ( i.e. Lease Commitments At August 31, 2015, the Company leases approximately 202,000 square feet of office space at its headquarters in Norwalk, Connecticut. In addition, FactSet leases office space for its U.S. reportable segment in New York, New York; Boston, Massachusetts; Chicago, Illinois; San Francisco, California; Austin, Texas; Jackson, Wyoming; Atlanta, Georgia; Tuscaloosa, Alabama; Newark, Ridgewood and Piscataway, New Jersey; Manchester, New Hampshire; Reston, Virginia, Youngstown, Ohio, and Toronto, Canada. The Company’s European segment operates in leased office space in London, England; Paris and Avon, France; Amsterdam, the Netherlands; Frankfurt, Germany; Dubai, United Arab Emirates; Milan, Italy; and Riga, Latvia. Office space in Tokyo, Japan; Hong Kong; Singapore; Mumbai, India; and Sydney, Australia are leased by FactSet for its Asia Pacific operating segment. The data content collection centers located in Hyderabad, India and Manila, the Philippines benefit all of the Companies operating segments. The leases expire on various dates through 2031. Total minimum rental payments associated with the leases are recorded as rent expense (a component of selling, general and administrative expenses) on a straight-line basis over the periods of the respective non-cancelable lease terms. During fiscal 2015, 2014 and 2013, rent expense (including operating costs) for all operating leases amounted to $38.6 million, $37.7 million and $36.2 million, respectively. At August 31, 2015 and 2014, deferred rent reported within the consolidated balance sheet totaled $20.9 million and $18.3 million, of which $18.4 million and $14.9 million, respectively, was reported as a non-current liability within the line item Deferred Rent and Other Non-Current Liabilities Approximately $1.0 million of standby letters of credit have been issued during the ordinary course of business in connection with the Company’s current leased office space as of August 31, 2015. These standby letters of credit contain covenants that, among other things, require FactSet to maintain minimum levels of consolidated net worth and certain leverage and fixed charge ratios. As of August 31, 2015 and 2014, FactSet was in compliance with all covenants contained in the standby letters of credit. In fiscal 2015, FactSet entered into the following new lease agreements: ● Boston, Massachusetts : ● Hyderabad, India : -A new lease amendment was entered into during November 2014 to renew the Company’s existing office space in Hyderabad. At the time of signing, the renewal resulted in incremental future minimum rental payments of $2.2 million over the non-cancelable lease term through November 2019. -A new lease agreement was entered into during April 2015 for 43,830 square feet of new office space in Hyderabad. At the time of signing, the new lease agreement resulted in incremental future minimum rental payments of $1.8 million over the lease term through September 2020. ● Manila, Philippines : ● New York, New York : ● Norwalk, Connecticut: ● London, England: At August 31, 2015, the Company’s lease commitments for office space provide for the following future minimum rental payments under non-cancelable operating leases with remaining terms in excess of one year (in thousands): Years Ended August 31, Minimum Lease Payments 2016 $ 22,695 2017 28,002 2018 27,373 2019 25,974 2020 20,129 Thereafter 145,929 Total $ 270,102 Purchase Commitments with Suppliers Purchase obligations represent payments due in future periods in respect of commitments to the Company’s various data vendors as well as commitments to purchase goods and services such as telecommunication and computer maintenance services. These purchase commitments are agreements that are enforceable and legally binding on FactSet and that specify all significant terms, including: fixed or minimum quantities to be purchased; fixed, minimum or variable price provisions; and the approximate timing of the transaction. As of August 31, 2015 and 2014, the Company had total purchase commitments with suppliers of $65.2 million and $53.3 million, respectively. Contingencies Legal Matters FactSet accrues non income-tax liabilities for contingencies when management believes that a loss is probable and the amounts can be reasonably estimated, while contingent gains are recognized only when realized. The Company is subject to legal proceedings, claims, and litigation arising in the ordinary course of business, including intellectual property litigation. Based on information available, FactSet’s management does not believe that the ultimate outcome of these unresolved matters against the Company, individually or in the aggregate, is likely to have a material adverse effect on the Company's consolidated financial position, its results of operations or its cash flows . Income Taxes Uncertain income tax positions are accounted for in accordance with applicable accounting guidance (see Note 16). FactSet is currently under audit by multiple tax authorities. The Company has reserved for potential adjustments to its provision for income taxes that may result from examinations by, or any negotiated agreements with, these tax authorities, and the Company believes that the final outcome of these examinations or agreements will not have a material effect on its results of operations. If events occur which indicate payment of these amounts is unnecessary, the reversal of the liabilities would result in the recognition of tax benefits in the period FactSet determines the liabilities are no longer necessary. If the Company’s estimates of the federal, state, and foreign income tax liabilities are less than the ultimate assessment, a further charge to expense would result. Indemnifications As permitted or required under Delaware law and to the maximum extent allowable under that law, FactSet has certain obligations to indemnify its current and former officers and directors for certain events or occurrences while the officer or director is, or was serving, at FactSet’s request in such capacity. These indemnification obligations are valid as long as the director or officer acted in good faith and in a manner the person reasonably believed to be in or not opposed to the best interests of the Company, and with respect to any criminal action or proceeding, had no reasonable cause to believe his or her conduct was unlawful. The maximum potential amount of future payments FactSet could be required to make under these indemnification obligations is unlimited; however, FactSet has a director and officer insurance policy that it believes mitigates FactSet's exposure and may enable FactSet to recover a portion of any future amounts paid. The Company believes the estimated fair value of these indemnification obligations is immaterial. |
Note 19 - Risks and Concentrati
Note 19 - Risks and Concentrations of Credit Risk | 12 Months Ended |
Aug. 31, 2015 | |
Risks and Uncertainties [Abstract] | |
Concentration Risk Disclosure [Text Block] | 19. RISK S AND CONCENTRATIONS OF CREDIT RISK Financial Risk Management Foreign Currency Exchange Risk The Company is exposed to changes in foreign currency exchange rates, which could affect its operating results, financial position and cash flows. The Company’s primary foreign currency market exposures include the British Pound Sterling, Euro, Japanese Yen, Indian Rupee and Philippine Peso. To the extent that FactSet’s international activities recorded in local currencies increase in the future, its exposure to fluctuations in currency exchange rates will correspondingly increase. FactSet manages its exposure to foreign currency exchange risk through its regular operating and financing activities and, when appropriate, through the use of derivative financial instruments. These derivative financial instruments are utilized to hedge currency exposures as well as to reduce earnings volatility resulting from shifts in market rates. FactSet only enters into foreign currency forward contracts to manage foreign currency exposures. The fair market values of all the Company’s derivative contracts change with fluctuations in currency rates and are designed so that any changes in their values are offset by changes in the values of the underlying exposures. See Note 5, Derivative Instruments Interest Rate Risk The fair market value of the Company’s cash and investments at August 31, 2015 was $182.4 million. FactSet’s cash and cash equivalents consist of demand deposits and money market funds with original maturities of three months or fewer and are reported at fair value. The Company’s investments consist of certificates of deposits with original maturities greater than three months, but less than one year and, as such, are reported as short-term investments. It is anticipated that the fair market value of the Company’s portfolio will continue to be immaterially affected by fluctuations in interest rates. Because FactSet has a restrictive investment policy, its financial exposure to fluctuations in interest rates is expected to remain low. The Company does not believe that the value or liquidity of its cash and investments have been significantly impacted by the recent credit crisis. As of August 31, 2015, the fair value of the Company’s long-term debt was $35.0 million, which approximated its carrying amount given its floating interest rate basis and was determined based on quoted market prices for debt with a similar maturity. The debt bears interest on the outstanding principal amount at a rate equal to 0.50% plus the Eurodollar rate, which is defined in the agreement as the rate per annum equal to one-month LIBOR. It is anticipated that the fair market value of the Company’s debt will continue to be immaterially affected by fluctuations in interest rates and FactSet does not believe that the value of its debt has been significantly impacted by current market events. Current market events have not required the Company to modify materially or change its financial risk management strategies with respect to its exposures to foreign currency exchange risk and interest rate risk. Concentrations of Credit Risk Cash equivalents Cash and cash equivalents are primarily maintained with two financial institutions. Deposits held with banks may exceed the amount of insurance provided on such deposits. These deposits may be redeemed upon demand and are maintained with financial institutions with reputable credit and therefore bear minimal credit risk. The Company seeks to mitigate its credit risks by spreading such risks across multiple counterparties and monitoring the risk profiles of these counterparties. Accounts Receivable Accounts receivable are unsecured and are derived from revenues earned from clients located around the globe. FactSet performs ongoing credit evaluations of its clients and does not require collateral from its clients. The Company maintains reserves for potential write-offs and these losses have historically been within expectations. No single client represented 10% or more of FactSet's total revenues in any fiscal year presented. At August 31, 2015, the Company’s largest individual client accounted for 2% of total subscriptions and annual subscriptions from the ten largest clients did not surpass 15% of total subscriptions, consistent with August 31, 2014. At August 31, 2015 and 2014, the receivable reserve was $1.6 million and $1.7 million, respectively . Derivative Instruments As a result of the use of derivative instruments, the Company is exposed to counterparty credit risk. FactSet has incorporated counterparty risk into the fair value of its derivative assets and its own credit risk into the value of the Company’s derivative liabilities. FactSet calculates credit risk from observable data related to CDS as quoted by publicly available information. Counterparty risk is represented by CDS spreads related to the senior secured debt of the respective bank with whom FactSet has executed these derivative transactions. Because CDS spread information is not available for FactSet, the Company’s credit risk is determined based on using a simple average of CDS spreads for peer companies as determined by FactSet. To mitigate counterparty credit risk, FactSet enters into contracts with large financial institutions and regularly review credit exposure balances as well as the creditworthiness of the counterparties. Data Content Providers Certain data sets that FactSet relies on have a limited number of suppliers, although the Company makes every effort to assure that, where reasonable, alternative sources are available. However, FactSet is not dependent on any one third party data supplier in order to meet the needs of its clients. FactSet combines the data from these commercial databases into its own dedicated single online service, which the client accesses to perform their analysis. No single vendor or data supplier represented 10% or more of FactSet's total data expenses in any fiscal year presented . |
Note 20 - Unaudited Quarterly F
Note 20 - Unaudited Quarterly Financial Data | 12 Months Ended |
Aug. 31, 2015 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Information [Text Block] | 20. UNAUDITED QUARTERLY FINANCIAL DATA The following table presents selected unaudited financial information for each of the quarterly periods in the years ended August 31, 2015 and 2014. The results for any quarter are not necessarily indicative of future quarterly results and, accordingly, period-to-period comparisons should not be relied upon as an indication of future performance (in thousands, except per share data). Fiscal 2015 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 242,676 $ 247,792 $ 254,522 $ 261,779 Cost of services 97,543 99,516 100,686 107,595 Selling, general and administrative 64,873 67,628 68,480 68,531 Operating income 80,260 80,648 85,356 85,653 Net income 55,860 61,598 61,409 62,184 Diluted earnings per common share (1) $ 1.32 $ 1.46 $ 1.45 $ 1.48 Weighted average common shares (diluted) 42,340 42,306 42,297 41,995 (1) Diluted earnings per common share is calculated independently for each of the periods presented. Accordingly, the sum of the quarterly earnings per share amounts may not equal the total for the fiscal year. Fiscal 2014 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 222,975 $ 226,934 $ 231,761 $ 238,664 Cost of services 83,250 87,254 90,661 92,521 Selling, general and administrative 64,985 64,626 68,063 66,757 Operating income 74,740 75,054 73,037 79,386 Net income 52,178 52,426 51,532 55,407 Diluted earnings per common share (1) $ 1.19 $ 1.22 $ 1.21 $ 1.31 Weighted average common shares (diluted) 43,773 43,107 42,615 42,386 (1) Diluted earnings per common share is calculated independently for each of the periods presented. Accordingly, the sum of the quarterly earnings per share amounts may not equal the total for the fiscal year. |
Note 21 - Subsequent Events
Note 21 - Subsequent Events | 12 Months Ended |
Aug. 31, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | 21. SUBSEQUENT EVENTS As previously announced, on September 21, 2015, FactSet agreed to acquire (the “Acquisition”) all of the issued and outstanding membership interests of Portware pursuant to a Securities Purchase Agreement by and among FactSet, Long Ridge Equity Partners I, LP, Long Ridge Offshore Subsidiary Holdings, LLC, Portware Investors Parallel Holdings LLC, Portware, Long Ridge Portware Holdings, Inc. and the Individual Sellers (as defined therein). On October 16, 2015, the Company completed the Acquisition for $265.0 million in cash, less certain adjustments set forth in the Securities Purchase Agreement, including, among others, a customary working capital adjustment. FactSet funded the Acquisition by borrowing $265.0 million on October 16, 2015 under its existing revolving credit facility, which it had amended on September 21, 2015. With the acquisition of Portware, FactSet will offer a platform that will increase value to global asset managers by expanding its capabilities to include multi-asset trade automation. Revenue from Portware will be recognized based on geographic business activities in accordance with how the Company’s operating segments are currently aligned. The Company expects the majority of the purchase price to be allocated to goodwill and acquired intangible assets. The pro forma financials that may be required in connection with the Acquisition have not been included as the valuation of certain assets and liabilities is ongoing as of the date of this Form 10-K. |
Schedule II - Valuation and Qua
Schedule II - Valuation and Qualifying Accounts | 12 Months Ended |
Aug. 31, 2015 | |
Valuation and Qualifying Accounts [Abstract] | |
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | Schedule II – Valuation and Qualifying Accounts Years Ended August 31, 2015, 2014, and 2013 (in thousands): Receivable reserve and billing adjustments (1) Balance at Beginning of Year Charged to Expense/ Against Revenue Write-offs, Net of Recoveries Balance at End of Year 2015 $ 1,662 $ 2.268 $ 2,350 $ 1,580 2014 $ 1,644 $ 2,135 $ 2,117 $ 1,662 2013 $ 1,830 $ 1,580 $ 1,766 $ 1,644 (1) Additions to the receivable reserve for doubtful accounts are charged to bad debt expense. Additions to the receivable reserve for billing adjustments are charged against revenues. Additional financial statement schedules have been omitted since they are either not required, not applicable, or the information is otherwise included. |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 12 Months Ended |
Aug. 31, 2015 | |
Accounting Policies [Abstract] | |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition The Company’s revenues are derived from month-to-month subscriptions to services such as workstations (also referred to as users), content and applications. The majority of clients are invoiced monthly to reflect the actual services provided. The remaining clients are invoiced quarterly, annually or biannually in advance. Subscription revenue is earned each month as the service is rendered to clients on a monthly basis. FactSet recognizes revenue when the client subscribes to FactSet services, the service has been rendered and earned during the month, the amount of the subscription is fixed or determinable based on established rates quoted on an annualized basis and collectability is reasonably assured. A provision for billing adjustments and cancellation of services is estimated and accounted for as a reduction to revenue, with a corresponding reduction to accounts receivable. |
Accounts Receivable and Deferred Fees [Policy Text Block] | Accounts Receivable and Deferred Fees Amounts that have been earned but not yet paid are reflected on the Consolidated Balance Sheets as accounts receivable, net of reserves. Amounts invoiced in advance or client payments that are in excess of earned subscription revenues are reflected on the Consolidated Balance Sheets as deferred fees. As of August 31, 2015, the amount of accounts receivable that was unbilled totaled $4.0 million, which was billed in fiscal 2016. The Company calculates its receivable reserve through analyzing aged client receivables, reviewing the recent history of client receivable write-offs and understanding general market and economic conditions. In accordance with this policy, a receivable reserve of $1.6 million and $1.7 million was recorded as of August 31, 2015 and 2014, respectively, in the Consolidated Balance Sheets as a reduction to accounts receivable. |
Cost of Sales, Policy [Policy Text Block] | Cost of Services Cost of services is comprised of compensation for Company employees within the content collection, consulting, product development, software and systems engineering groups in addition to data costs, computer maintenance and depreciation expenses, amortization of identifiable intangible assets, and client-related communication costs. |
Selling, General and Administrative Expenses, Policy [Policy Text Block] | Selling, General and Administrative Selling, general and administrative expenses include compensation for the sales and various other support and administrative departments in addition to travel and entertainment expenses, marketing costs, rent, amortization of leasehold improvements, depreciation of furniture and fixtures, office expenses, professional fees and other miscellaneous expenses. |
Earnings Per Share, Policy [Policy Text Block] | Earnings per Share Basic earnings per share (“EPS”) is computed by dividing net income by the number of weighted average common shares outstanding during the period. Diluted earnings per share is computed by dividing net income by the number of weighted average common shares outstanding during the period increased by the dilutive effect of potential common shares outstanding during the period. The number of potential common shares outstanding has been determined in accordance with the treasury stock method to the extent they are dilutive. Common share equivalents consist of common shares issuable upon the exercise of outstanding share-based compensation awards, including employee stock options and restricted stock. Under the treasury stock method, the exercise price paid by the optionee, future stock-based compensation expense that the Company has not yet recognized and the amount of tax benefits that would be recorded in additional paid-in capital (“APIC”) when the award becomes deductible are assumed to be used to repurchase shares. |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income (Loss) The Company discloses comprehensive income (loss) in accordance with applicable standards for the reporting and display of comprehensive income (loss) in a set of financial statements. Comprehensive income (loss) is defined as the change in net assets of a business enterprise during a period from transactions generated from non-owner sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners. |
Fair Value Measurement, Policy [Policy Text Block] | Fair Value Measures Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, the use of various valuation methodologies, including market, income and cost approaches is permissible. The Company considers the principal or most advantageous market in which it would transact and considers assumptions that market participants would use when pricing the asset or liability. The accounting guidance for fair value measurements establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. There are three levels of inputs that may be used to measure fair value based on the reliability of inputs. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The Company’s cash equivalents are classified as Level 1 while the Company’s derivative instruments ( foreign exchange forward contracts) and certificates of deposit are classified as Level 2. There were no Level 3 assets or liabilities held by FactSet as of August 31, 2015 or 2014. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents Cash and cash equivalents consist of demand deposits and corporate money market funds with original maturities of three months or less and are reported at fair value. The Company’s corporate money market funds are traded in an active market and the net asset value of each fund on the last day of the quarter is used to determine its fair value. |
Investment, Policy [Policy Text Block] | Investments Investments consist of certificates of deposits with original maturities greater than three months, but less than one year and, as such, are classified as investments (short-term) on the Consolidated Balance Sheets. These certificates of deposit are held for investment and are not debt securities. The Company’s investments are associated with its purchase of certificates of deposits in India with maturities of less than twelve months from the date of purchase. Interest income earned from the certificates of deposit during fiscal 2015, 2014 and 2013 were $2.0 million, $1.2 million and $1.3 million, respectively. The Company’s cash, cash equivalents and investments portfolio did not experience any realized or unrealized losses as a result of counterparty credit risk or ratings change during fiscal 2015 and 2014. |
Property, Plant and Equipment, Policy [Policy Text Block] | Property, Equipment and Leasehold Improvements Property, equipment and leasehold improvements are stated at cost, less accumulated depreciation and amortization. Computers and related equipment are depreciated on a straight-line basis over estimated useful lives of three years. Furniture and fixtures are depreciated on a straight-line basis over their estimated useful lives of seven years. Leasehold improvements are amortized on a straight-line basis over the terms of the related leases or estimated useful lives of the improvements, whichever period is shorter. Repairs and maintenance expenditures, which are not considered leasehold improvements and do not extend the useful life of the property and equipment, are expensed as incurred. The Company performs a test for impairment whenever events or changes in circumstances indicate that the carrying amount of an individual asset or asset group may not be recoverable. Should projected undiscounted future cash flows be less than the carrying amount of the asset or asset group, an impairment charge reducing the carrying amount to fair value is required. Fair value is determined based on the most appropriate valuation technique, including discounted cash flows. |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill Goodwill has resulted from the acquisitions of the Insyte, LionShares, Mergerstat, CallStreet, JCF, TrueCourse, Derivative Solutions, AlphaMetrics, Global Filings, DealMaven, Thomson Fundamentals, Market Metrics, StreetAccount, Revere, Matrix, ETF.com and Code Red businesses. Goodwill resulting from the acquisitions of LionShares, Mergerstat, TrueCourse, Derivative Solutions, Market Metrics, StreetAccount, Revere and Matrix are income tax-deductible based on the structure of the acquisition. The Company is required to test goodwill for impairment annually, or more frequently if impairment indicators occur. Goodwill is tested for impairment based on the present value of discounted cash flows, and, if impaired, written down to fair value based on discounted cash flows. FactSet has three reporting units, which are consistent with the operating segments reported as there is no discrete financial information available for the subsidiaries within each operating segment. The reporting units evaluated for potential impairment were the U.S., Europe and Asia Pacific, which reflect the level of internal reporting the Company uses to manage its business and operations. The Company performed its annual goodwill impairment test during the fourth quarter of fiscal 2015, consistent with the timing of previous years, at which time it was determined that there were no indications of impairment, with the fair value of each of the Company’s reporting units significantly exceeding carrying value. |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | Intangible Assets FactSet’s identifiable intangible assets consist of acquired content databases, client relationships, software technology, non-compete agreements and trade names resulting from acquisitions, which have been fully integrated into the Company’s operations. Depending on the nature of the intangible asset, the identifiable intangible assets are amortized on either a straight-line or an accelerated basis using estimated useful lives ranging between two and twenty years. The remaining useful lives of intangible assets subject to amortization are evaluated quarterly to determine whether events and circumstances warrant a revision to the remaining period of amortization. If the estimate of the remaining useful life is changed, the remaining carrying amount of the intangible asset is amortized prospectively over that revised remaining useful life. These intangible assets have no assigned residual values. Intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Determination of recoverability is based on an estimate of undiscounted future cash flows resulting from the use of the asset and its eventual disposition. Measurement of any impairment loss for intangible assets that management expects to hold and use is based on the amount the carrying value exceeds the fair value of the asset. No impairment of intangible assets has been identified during any of the fiscal years presented. |
Accrued Liabilities [Policy Text Block] | Accrued Liabilities Accrued liabilities include estimates relating to employee compensation, operating expenses and tax liabilities. Approximately 15% of the Company’s employee incentive compensation programs are discretionary. At the end of each fiscal year, FactSet conducts a final review of both Company and individual performance within each department to determine the amount of discretionary employee compensation. The Company also reviews compensation throughout the year to determine how overall performance tracks against management’s expectations. Management takes these and other factors, including historical performance, into account in reviewing accrued compensation estimates quarterly and adjusting accrual rates as appropriate. The amount of the variable employee compensation recorded within accrued compensation as of August 31, 2015 and 2014, was $38.6 million and $37.3 million, respectively. |
Derivatives, Policy [Policy Text Block] | Derivative Instruments FactSet conducts business outside the U.S. in several currencies including the Indian Rupee, Philippine Peso, British Pound Sterling, Euro and Japanese Yen. As such, it is exposed to movements in foreign currency exchange rates compared to the U.S. dollar. The Company utilizes derivative instruments (foreign currency forward contracts) to manage the exposures related to the effects of foreign exchange rate fluctuations and reduce the volatility of earnings and cash flows associated with changes in foreign currency. The Company does not enter into foreign exchange forward contracts for trading or speculative purposes. In designing a specific hedging approach, FactSet considers several factors, including offsetting exposures, significance of exposures, forecasting risk and potential effectiveness of the hedge. These transactions are designated and accounted for as cash flow hedges in accordance with applicable accounting guidance . |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency Translation Certain wholly owned subsidiaries within the European and Asia Pacific segments operate under a functional currency different from the U.S. dollar, such as the British Pound Sterling, Euro, Japanese Yen, Indian Rupee and Philippine Peso. The financial statements of these foreign subsidiaries are translated into U.S. dollars using period-end rates of exchange for assets and liabilities, and average rates for the period for revenues and expenses. Translation gains and losses that arise from translating assets, liabilities, revenues and expenses of foreign operations are recorded in AOCL as a component of stockholders’ equity. The accumulated foreign currency translation loss totaled $43.7 million and $18.4 million at August 31, 2015 and 2014, respectively. |
Income Tax, Policy [Policy Text Block] | Income and Deferred Taxes Income tax expense is based on taxable income determined in accordance with currently enacted laws and tax rates. Deferred income taxes are recorded for the temporary differences between the financial statement and tax bases of assets and liabilities using currently enacted tax rates. FactSet recognizes the financial effect of an income tax position only if it is more likely than not (greater than 50%) that the tax position will prevail upon tax examination, based solely on the technical merits of the tax position as of the reporting date. Otherwise, no benefit or expense can be recognized in the consolidated financial statements. The tax benefits recognized are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. Additionally, FactSet accrues interest on all tax exposures for which reserves have been established consistent with jurisdictional tax laws. Interest is classified as income tax expense in the financial statements. As of August 31, 2015, the Company had gross unrecognized tax benefits totaling $6.8 million, including $1.3 million of accrued interest, recorded as non-current taxes payable in the Consolidated Balance Sheet. |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation Accounting guidance requires the measurement and recognition of compensation expense for all share-based payment awards made to employees and directors including stock options, restricted stock and common shares acquired under employee stock purchases based on estimated fair values of the share awards that are scheduled to vest during the period. FactSet uses the straight-line attribution method for all awards with graded vesting features and service conditions only. Under this method, the amount of compensation expense that is recognized on any date is at least equal to the vested portion of the award on that date. For all stock-based awards with performance conditions, the graded vesting attribution method is used by the Company to determine the monthly stock-based compensation expense over the applicable vesting periods. As stock-based compensation expense recognized is based on awards ultimately expected to vest, it has been reduced for estimated forfeitures. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Forfeitures are estimated based primarily on historical experience. Windfall tax benefits, defined as tax deductions that exceed recorded stock-based compensation, are classified as cash inflows from financing activities. Performance-based stock options require management to make assumptions regarding the likelihood of achieving Company performance targets o n a quarterly basis. The number of performance-based options that vest will be predicated on the Company achieving certain performance levels. A change in the financial performance levels the Company achieves could result in changes to FactSet’s current estimate of the vesting percentage and related stock-based compensation. |
Treasury Stock [Policy Text Block] | Treasury Stock The Company accounts for repurchased common stock under the cost method and includes such treasury stock as a component of its stockholders’ equity. At the time treasury stock retirement is approved by FactSet’s Board of Directors, the Company’s accounting policy is to deduct its par value from common stock, reduce APIC by the amount recorded in APIC when the stock was originally issued and any remaining excess of cost as a deduction from retained earnings. |
Lease, Policy [Policy Text Block] | Operating Leases The Company conducts all of its operations in leased facilities which have minimum lease obligations under non-cancelable operating leases. Certain of these leases contain rent escalations based on specified percentages. Most of the leases contain renewal options and require payments for taxes, insurance and maintenance. Rent expense is charged to operations as incurred except for escalating rents, which are charged to operations on a straight-line basis over the life of the lease. Lease incentives, relating to allowances provided by landlords, are amortized over the term of the lease as a reduction of rent expense. Costs associated with acquiring a subtenant, including broker commissions and tenant allowances, are amortized over the sublease term as a reduction of sublease income. |
Business Combinations Policy [Policy Text Block] | Business Combinations The Company records acquisitions using the purchase method of accounting. All of the assets acquired, liabilities assumed, contractual contingencies and contingent consideration are recognized at their fair value on the acquisition date. The application of the purchase method of accounting for business combinations requires management to make significant estimates and assumptions in the determination of the fair value of assets acquired and liabilities assumed in order to properly allocate purchase price consideration between assets that are depreciated and amortized from goodwill. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. Acquisition-related expenses and restructuring costs are recognized separately from the business combination and are expensed as incurred. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentrations of Risk Cash and cash equivalents are maintained with several financial institutions. Deposits held with banks may exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and are maintained with financial institutions with reputable credit and therefore bear minimal credit risk. The Company seeks to mitigate its credit risks by spreading such risks across multiple counterparties and monitoring the risk profiles of these counterparties. |
New Accounting Pronouncements, Policy [Policy Text Block] | New Accounting Standards or Updates Recently Adopted Except for the new accounting standard updates disclosed below, the new updates issued by the Financial Accounting Standards Board (“FASB”) during the last three fiscal years did not have an impact on the Company’s consolidated financial statements. Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income In February 2013, the FASB issued an accounting standard update to require reclassification adjustments from other comprehensive income to be presented either in the financial statements or in the notes to the financial statements. This accounting standard update became effective for FactSet beginning in the first quarter of fiscal 2014 and the additional information has been disclosed in Note 6, Other Comprehensive (Loss) Income and Accumulated Other Comprehensive Loss Cumulative Translation Adjustments In March 2013, the FASB issued an accounting standard update requiring an entity to release into net income the entire amount of a cumulative translation adjustment related to its investment in a foreign entity when as a parent it either sells a part or all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets within a foreign entity. This accounting standard update was adopted by FactSet beginning in the first quarter of fiscal 2014 and did not have an impact on the Company’s consolidated financial statements. Recent Accounting Standards or Updates Not Yet Effective Reporting Discontinued Operations In April 2014, the FASB issued an accounting standard update that changes the criteria for reporting discontinued operations. Under the accounting standard update, a disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has, or will have, a major effect on an entity's operations and financial results when either it qualifies as held for sale, disposed of by sale, or disposed of other than by sale. This accounting standard update will be effective for FactSet beginning in the first quarter of fiscal 2016. The Company does not believe this new accounting standard update will have a material impact on its consolidated financial statements. Revenue Recognition In May 2014, the FASB issued an accounting standard update which provides clarified principles for recognizing revenue arising from contracts with clients and supersedes most current revenue recognition guidance, including industry-specific guidance. The core principle of the revenue model is that an entity recognizes revenue to depict the transfer of promised goods or services to clients in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In applying the revenue model to contracts within its scope, an entity will identify the contract with a client, identify the performance obligations in the contract, determine the transaction price, allocate the transaction price to the performance obligations in the contract and recognize revenue when (or as) the entity satisfies a performance obligation. This accounting standard update will be effective for FactSet beginning in the first quarter of fiscal 2019, with early adoption in fiscal 2018 permitted. The Company is currently evaluating the impact of this accounting standard update on its consolidated financial statements. Going Concern In August 2014, the FASB issued an accounting standard update that requires management to evaluate and disclose whether there are conditions and events that raise substantial doubt about an entity’s ability to continue as a going concern within one year after financial statements are issued. The evaluation and disclosure will be required to be made for both annual and interim reporting periods, if applicable, along with an evaluation as to whether management’s plans alleviate that doubt. This accounting standard update will be effective for FactSet beginning in the first quarter of fiscal 2017. The Company does not believe this new accounting standard update will have a material impact on its consolidated financial statements. Income Statement Presentation – Extraordinary and Unusual Items In January 2015, the FASB issued an accounting standard update that eliminates from GAAP the concept of extraordinary items. This accounting standard update will be effective for FactSet beginning in the first quarter of fiscal 2017. The standard primarily involves presentation and disclosure and, therefore, is not expected to have a material impact on the Company’s financial condition, results of operations or its cash flows. Simplification Guidance on Debt Issuance Costs In April 2015, the FASB issued an accounting standard update which changes the presentation of debt issuance costs in the applicable financial statements. Under the accounting standard update, an entity should present such costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of the costs is reported as interest expense. This accounting standard update will be effective for FactSet beginning in the first quarter of fiscal 2017. The Company does not believe this new accounting standard update will have a material impact on its consolidated financial statements. In August 2015, the FASB issued an accounting standard update to amend the previous guidance issued in April 2015 and address debt issuance costs related to line-of-credit arrangements. The accounting standard update allows an entity to present debt issuance costs related to a line-of-credit as an asset and subsequently amortize the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the arrangement. This accounting standard update did not impact the effective date of the previously issued guidance and the Company does not believe it will have a material impact on its consolidated financial statements. Customers’ Accounting for Cloud Computing Costs In April 2015, the FASB issued an accounting standard update to provide guidance on a customer’s accounting for cloud computing costs. Under the accounting standard update, a customer must determine whether a cloud computing arrangement contains a software license. If so, the customer would account for the fees related to the software license element in a manner consistent with how the accounting for software licenses is accounted for under previously issued guidance. If the arrangement does not contain a software license, the customer would account for the arrangement as a service contract. This guidance will be effective for FactSet beginning in the first quarter of fiscal 2017. The Company does not believe this new accounting standard update will have a material impact on its consolidated financial statements. No other new accounting pronouncements issued or effective as of August 31, 2015 have had or are expected to have an impact on the Company’s consolidated financial statements. |
Note 4 - Fair Value Measures (T
Note 4 - Fair Value Measures (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at Reporting Date Using August 31, 2015 Level 1 Level 2 Level 3 Total Assets Corporate money market funds (1) $ 89,443 $ — $ — $ 89,443 Certificates of deposit (2) — 23,497 — 23,497 Derivative instruments (3) — 1,035 — 1,035 Total assets measured at fair value $ 89,443 $ 24,532 $ — $ 113,975 Liabilities Derivative instruments (3) $ — $ 1,602 $ — $ 1,602 Total liabilities measured at fair value $ — $ 1,602 $ — $ 1,602 Fair Value Measurements at Reporting Date Using August 31, 2014 Level 1 Level 2 Level 3 Total Assets Corporate money market funds (1) $ 75,363 $ — $ — $ 75,363 Certificates of deposit (2) — 20,008 — 20,008 Derivative instruments (3) — 1,406 — 1,406 Total assets measured at fair value $ 75,363 $ 21,414 $ — $ 96,777 Liabilities Derivative instruments (3) $ — $ 591 $ — $ 591 Total liabilities measured at fair value $ — $ 591 $ — $ 591 |
Note 5 - Derivative Instrumen33
Note 5 - Derivative Instruments (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Foreign Exchange Contracts, Statement of Financial Position [Table Text Block] | Gross Notional Value Fair Value Asset (Liability) Currency Hedged (in U.S. dollars) Aug 31, 2015 Aug 31, 2014 Aug 31, 2015 Aug 31, 2014 Indian Rupee $ 56,320 $ 38,479 $ (990 ) $ 700 Philippine Peso — 6,500 — 115 Euro 20,263 — 143 — British Pound Sterling 15,831 — 280 — Total $ 92,414 $ 44,979 $ (567 ) $ 815 |
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block] | Designation of Derivatives Balance Sheet Location Aug 31, 2015 Aug 31, 2014 Derivatives designated as hedging instruments Assets: Foreign Currency Forward Contracts Prepaid expenses and other current assets $ 1,035 $ 114 Other assets $ — 1,292 Liabilities: Foreign Currency Forward Contracts Accounts payable and accrued expenses $ — $ 591 Deferred rent and other non-current liabilities $ 1,602 $ — |
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block] | (Loss) Gain Recognized in AOCL on Derivatives Location of Loss (Loss) Reclassified from AOCL into Income (Effective Portion) Derivatives in Cash Flow Hedging Relationships 2015 2014 2013 Reclassified from AOCL into Income(Effective Portion) 2015 2014 2013 Foreign currency forward contracts $ (1,939 ) $ 8,294 $ (6,258 ) SG&A $ (559 ) $ (260 ) $ (1,000 ) |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | Derivatives Offset in Consolidated Balance Sheets August 31, 2015 Gross Derivative Amounts Gross Derivative Amounts Offset in Balance Sheet Net Amounts Fair value of assets $ 1,040 $ (5 ) $ 1,035 Fair value of liabilities (1,607 ) 5 (1,602 ) Total $ (567 ) $ — $ (567 ) Derivatives Offset in Consolidated Balance Sheets August 31, 2014 Gross Derivative Amounts Gross Derivative Amounts Offset in Balance Sheet Net Amounts Fair value of assets $ 1,406 $ — $ 1,406 Fair value of liabilities (626 ) 35 (591 ) Total $ 780 $ 35 $ 815 |
Note 6 - Other Comprehensive 34
Note 6 - Other Comprehensive (Loss) Income and Accumulated Other Comprehensive Loss (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | August 31, 2015 August 31, 2014 August 31, 2013 Pre-tax Net of tax Pre-tax Net of tax Pre-tax Net of tax Foreign currency translation adjustments $ (25,263 ) $ (25,263 ) $ 7,895 $ 7,895 $ (5,151 ) $ (5,151 ) Realized loss on cash flow hedges reclassified to earnings (1) 559 352 260 164 1,000 622 Unrealized (loss) gain on cash flow hedges recognized in AOCL (1,939 ) (1,220 ) 8,294 5,193 (6,258 ) (3,918 ) Other comprehensive (loss) income $ (26,643 ) $ (26,131 ) $ 16,449 $ 13,252 $ (10,409 ) $ (8,447 ) |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | August 31, 2015 August 31, 2014 Accumulated unrealized (losses) gains on cash flow hedges, net of tax $ (358 ) $ 510 Accumulated foreign currency translation adjustments (43,694 ) (18,431 ) Total accumulated other comprehensive loss $ (44,052 ) $ (17,921 ) |
Note 7 - Segment Information (T
Note 7 - Segment Information (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Year Ended August 31, 2015 U.S. Europe Asia Pacific Total Revenues from clients $ 678,774 $ 251,522 $ 76,472 $ 1,006,768 Segment operating profit 172,980 116,310 42,628 331,918 Total assets 427,990 239,689 68,992 736,671 Depreciation and amortization 23,645 5,135 2,569 31,349 Stock-based compensation 23,006 2,991 374 26,371 Capital expenditures 22,459 460 2,763 25,682 Year Ended August 31, 2014 U.S. Europe Asia Pacific Total Revenues from clients $ 624,642 $ 227,395 $ 68,298 $ 920,335 Segment operating profit 165,004 100,937 36,278 302,219 Total assets 362,255 239,654 61,303 663,212 Depreciation and amortization 25,574 5,656 3,205 34,435 Stock-based compensation 20,288 2,231 372 22,891 Capital expenditures 16,047 647 1,049 17,743 Year Ended August 31, 2013 U.S. Europe Asia Pacific Total Revenues from clients $ 586,865 $ 208,827 $ 62,420 $ 858,112 Segment operating profit 138,706 100,187 30,526 269,419 Total assets 444,406 193,202 52,589 690,197 Depreciation and amortization 27,757 4,027 3,995 35,779 Stock-based compensation 37,307 2,264 380 39,951 Capital expenditures 13,649 1,276 3,592 18,517 |
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block] | Years Ended August 31, 2015 2014 2013 Revenue s (1) United States $ 678,774 $ 624,642 $ 586,865 United Kingdom 144,769 131,848 121,072 All other European countries 106,753 95,547 87,755 Asia Pacific 76,472 68,298 62,420 Total revenues $ 1,006,768 $ 920,335 $ 858,112 |
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block] | At August 31, 2015 2014 2013 Long-lived Assets (1) United States $ 49,923 $ 46,294 $ 51,184 United Kingdom 3,655 4,669 4,806 All other European countries 1,322 2,267 3,051 Asia Pacific 4,364 4,411 6,330 Total long-lived assets $ 59,264 $ 57,641 $ 65,371 |
Note 8 - Business Combinations
Note 8 - Business Combinations (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Business Combinations [Abstract] | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | Cash consideration $ 32,962 Fair value of FactSet stock issued 2,991 Total purchase price $ 35,953 |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Tangible assets acquired $ 3,090 Amortizable intangible assets Software technology 4,728 Client relationships 3,089 Non-compete agreements 277 Trade name 127 Goodwill 29,627 Total assets acquired $ 40,938 Liabilities assumed (4,985 ) Net assets acquired $ 35,953 Tangible assets acquired $ 7,459 Amortizable intangible assets Data content 3,408 Client relationships 2,816 Software technology 1,708 Trade name 670 Non-compete agreements 147 Goodwill 25,531 Total assets acquired $ 41,739 Liabilities assumed (9,941 ) Net assets acquired $ 31,798 Tangible assets acquired $ 544 Amortizable intangible assets Data content 2,799 Client relationships 827 Non-compete agreements 162 Trade name 293 Goodwill 11,612 Total assets acquired $ 16,237 Liabilities assumed (949 ) Net assets acquired $ 15,288 |
Note 9 - Goodwill (Tables)
Note 9 - Goodwill (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Disclosure Text Block Supplement [Abstract] | |
Schedule of Goodwill [Table Text Block] | U.S. Europe Asia Pacific Total Balance at August 31, 2013 $ 167,822 $ 73,424 $ 3,327 $ 244,573 Goodwill acquired during the period 11,612 25,531 — 37,143 Foreign currency translations — 4,077 (185 ) 3,892 Balance at August 31, 2014 $ 179,434 $ 103,032 $ 3,142 $ 285,608 Goodwill acquired during the period 32,435 — — 32,435 Foreign currency translations — (9,307 ) (449 ) (9,756 ) Balance at August 31, 2015 $ 211,869 $ 93,725 $ 2,693 $ 308,287 |
Note 10 - Intangible Assets (Ta
Note 10 - Intangible Assets (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | At August 31, 2015 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Data content $ 39,911 $ 16,667 $ 23,244 Client relationships 27,873 18,241 9,632 Software technology 21,203 15,042 6,161 Non-compete agreements 1,058 637 421 Trade names 1,614 1,020 594 Total $ 91,659 $ 51,607 $ 40,052 At August 31, 2014 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Data content $ 56,974 $ 27,644 $ 29,320 Client relationships 25,821 17,443 8,378 Software technology 22,881 20,089 2,792 Non-compete agreements 2,465 1,881 584 Trade names 1,729 958 771 Total $ 109,870 $ 68,015 $ 41,855 |
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block] | Code Red Preliminary Intangible Assets Allocation Amortization Period (years) Acquisition Cost Software technology 6.0 $ 4,728 Client relationships 7.0 3,089 Non-compete agreements 4.0 277 Trade name 3.0 127 Total 6.3 $ 8,221 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Fiscal Year Estimated Amortization Expense 2016 $ 7,031 2017 6,949 2018 5,816 2019 4,492 2020 3,461 Thereafter 12,303 Total $ 40,052 |
Note 11 - Property, Equipment39
Note 11 - Property, Equipment and Leasehold Improvements (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment [Table Text Block] | At August 31, 2015 2014 Leasehold improvements $ 92,427 $ 90,487 Computers and related equipment 87,732 81,853 Furniture and fixtures 33,120 29,373 Subtotal $ 213,279 $ 201,713 Less accumulated depreciation and amortization (154,015 ) (144,072 ) Property, equipment and leasehold improvements, net $ 59,264 $ 57,641 |
Note 12 - Common Stock and Ea40
Note 12 - Common Stock and Earnings Per Share (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Earnings Per Share [Abstract] | |
Schedule of Stock by Class [Table Text Block] | Years Ended August 31, 2015 2014 2013 Balance, beginning of year (September 1) 41,793 43,324 44,279 Common stock issued for employee stock plans 1,213 959 2,459 Repurchases of common stock (1,689 ) (2,490 ) (3,414 ) Balance, end of year (August 31) 41,317 41,793 43,324 |
Schedule of Weighted Average Number of Shares [Table Text Block] | Net Income (Numerator) Weighted Average Common Shares (Denominator) Per Share Amount Years Ended August 31, 2015 2014 2013 2015 2014 2013 2015 2014 2013 Basic EPS Income available to common stockholders $ 241,051 $ 211,543 $ 198,637 41,572 42,436 43,890 $ 5.80 $ 4.98 $ 4.53 Diluted EPS Dilutive effect of stock options and restricted stock 663 534 734 Income available to common stockholders $ 241,051 $ 211,543 $ 198,637 42,235 42,970 44,624 $ 5.71 $ 4.92 $ 4.45 |
Note 13 - Stockholders' Equity
Note 13 - Stockholders' Equity (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Stockholders' Equity Note [Abstract] | |
Dividends Declared [Table Text Block] | Declaration Date Dividends Per Type Record Date Total $ Amount Payment Date August 10, 2015 $ 0.44 Regular (cash) August 31, 2015 $ 18,179 September 15, 2015 May 12, 2015 $ 0.44 Regular (cash) May 29, 2015 $ 18,274 June 16, 2015 February 11, 2015 $ 0.39 Regular (cash) February 27, 2015 $ 16,236 March 17, 2015 November 12, 2014 $ 0.39 Regular (cash) November 28, 2014 $ 16,216 December 16, 2014 August 14, 2014 $ 0.39 Regular (cash) August 29, 2014 $ 16,299 September 16, 2014 May 5, 2014 $ 0.39 Regular (cash) May 30, 2014 $ 16,386 June 17, 2014 February 11, 2014 $ 0.35 Regular (cash) February 28, 2014 $ 14,827 March 18, 2014 November 14, 2013 $ 0.35 Regular (cash) November 29, 2013 $ 15,046 December 17, 2013 August 15, 2013 $ 0.35 Regular (cash) August 31, 2013 $ 15,164 September 17, 2013 May 14, 2013 $ 0.35 Regular (cash) May 31, 2013 $ 15,413 June 18, 2013 February 21, 2013 $ 0.31 Regular (cash) February 28, 2013 $ 13,510 March 19, 2013 November 15, 2012 $ 0.31 Regular (cash) November 30, 2012 $ 13,746 December 18, 2012 |
Note 14 - Stock Option and Re42
Note 14 - Stock Option and Retirement Plans (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Disclosure Text Block Supplement [Abstract] | |
Schedule of Share-based Compensation, Stock Options and Stock Appreciation Rights Award Activity [Table Text Block] | (in thousands, except per share data) Number Outstanding Weighted Average Exercise Price Per Share Balance at August 31, 2012 6,083 $ 64.76 Granted – non performance-based 645 92.22 Granted – performance-based 1,011 92.22 Granted – non-employee Directors grant 19 91.06 Exercised (2,286 ) 52.25 Forfeited (1) (743 ) 93.84 Balance at August 31, 2013 4,729 $ 75.95 Granted – non performance-based 174 103.36 Granted – performance-based 203 109.56 Granted – non-employee Directors grant 14 107.65 Exercised (789 ) 57.56 Forfeited (2) (849 ) 91.98 Balance at August 31, 2014 3,482 $ 79.67 Granted – non performance-based 677 140.49 Granted – performance-based 138 148.52 Granted – non-employee Directors grant 14 138.48 Exercised (1,060 ) 63.03 Forfeited (134 ) 106.01 Balance at August 31, 2015 3,117 $ 100.71 |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | Outstanding Exercisable Range of Exercise Prices Per Share Number Outstanding Weighted Average Weighted Aggregate Intrinsic Value Number Exercisable Weighted Aggregate $35.80 – $63.09 255 1.0 $ 54.62 $ 26,340 255 $ 54.62 $ 26,340 $66.46 – $66.81 351 1.2 $ 66.47 $ 32,098 351 $ 66.47 $ 32,098 $87.26 – $90.92 372 5.6 $ 90.14 $ 25,213 169 $ 89.44 $ 11,574 $91.06 – $92.22 654 7.1 $ 92.19 $ 42,986 336 $ 92.20 $ 22,083 $94.84 – $96.10 326 6.0 $ 94.88 $ 20,550 227 $ 94.85 $ 14,317 $102.01 – $110.31 358 8.2 $ 106.88 $ 18,273 14 $ 107.64 $ 704 $131.31 – $139.02 484 9.1 $ 131.91 $ 12,586 — $ — $ — $148.52 – $166.74 317 9.6 $ 157.21 $ 225 — $ — $ — Total Fiscal 2015 3,117 6.3 $ 100.71 $ 178,271 1,352 $ 78.70 $ 107,116 |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Prior Year Amounts August 31, 2014 August 31, 2013 Number of Shares Weighted Average Exercise Price Per Share Number of Shares Weighted Average Exercise Price Per Share Outstanding at fiscal year end 3,482 $ 79.67 4,729 $ 75.95 Exercisable at fiscal year end 1,899 $ 68.78 1,925 $ 59.70 |
Schedule of Share-based Compensation, Vesting Percentage and Related Expenses [Table Text Block] | Vesting Percentage Cumulative Catch-up Adjustment* Remaining Expense to be Recognized Fourth 20% (current expectation) $ 0 $ 619 Fifth 20% $ 1,216 $ 1,003 Vesting Percentage Cumulative Catch-up Adjustment* Remaining Expense to be Recognized 0% $ (338 ) $ 0 10% $ (253 ) $ 516 40% (current expectation) $ 0 $ 2,063 70% $ 253 $ 3,609 100% $ 506 $ 5,156 |
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | (in thousands, except per award data) Number Outstanding Weighted Average Grant Date Fair Value Per Award Balance at August 31, 2012 383 $ 71.34 Granted (restricted stock and stock units) 132 85.80 Vested (1) (150 ) 62.34 Canceled/forfeited (7 ) 81.38 Balance at August 31, 2013 358 $ 80.43 Granted (restricted stock and stock units) 204 101.95 Vested (2) (135 ) 84.48 Canceled/forfeited (59 ) 86.39 Balance at August 31, 2014 368 $ 89.77 Granted (restricted stock and stock units) 55 138.23 Vested (3) (95 ) 70.94 Canceled/forfeited (15 ) 101.04 Balance at August 31, 2015 313 $ 103.34 |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | Share-based Awards Available for Grant under the Employee Stock Option Plan Share-based Awards Available for Grant under the Non-Employee Stock Option Plan Balance at August 31, 2012 4,340 126 Granted – non performance-based options (645 ) — Granted – performance-based options (1,011 ) — Granted – non-employee Directors grant — (19 ) Restricted stock awards granted (1) (329 ) — Share-based awards canceled/forfeited (2) 761 — Balance at August 31, 2013 3,116 107 Granted – non performance-based options (174 ) — Granted – performance-based options (203 ) — Granted – non-employee Directors grant — (14 ) Restricted stock awards granted (1) (510 ) — Share-based awards canceled/forfeited (2) 993 9 Balance at August 31, 2014 3,222 102 Granted – non performance-based options (677 ) — Granted – performance-based options (138 ) — Granted – non-employee Directors grant — (14 ) Restricted stock awards granted (1) (137 ) — Share-based awards canceled/forfeited (2) 171 — Balance at August 31, 2015 2,441 88 |
Note 15 - Stock-based Compens43
Note 15 - Stock-based Compensation (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Note 15 - Stock-based Compensation (Tables) [Line Items] | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2015 2014 2013 Term structure of risk-free interest rate 0.01% - 2.3% 0.01% - 2.6% 0.16% - 1.91% Expected life (years) 5.8 - 9.4 7.6 - 7.8 7.6 - 7.8 Term structure of volatility 20% - 31% 23% - 33% 24% - 33% Dividend yield 1.32% 1.35% 1.30% Weighted average estimated fair value $41.87 $29.64 $26.87 Weighted average exercise price $141.84 $106.69 $92.22 Fair value as a percentage of exercise price 29.5% 27.8% 29.1% |
Non-Employee Directors' Stock Option Plan [Member] | |
Note 15 - Stock-based Compensation (Tables) [Line Items] | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Risk-free interest rate 1.45 % Expected life (years) 5.4 Expected volatility 23 % Dividend yield 1.30 % Risk-free interest rate 1.66 % Expected life (years) 5.4 Expected volatility 29 % Dividend yield 1.35 % Risk-free interest rate 0.89 % Expected life (years) 5.4 Expected volatility 32 % Dividend yield 1.30 % |
2008 Employee Stock Purchase Plan [Member] | |
Note 15 - Stock-based Compensation (Tables) [Line Items] | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2015 2014 2013 Risk-free interest rate 0.03 % 0.04 % 0.07 % Expected life (months) 3 3 3 Expected volatility 16.3 % 9.8 % 9.8 % Dividend yield 1.15 % 1.38 % 1.38 % |
Note 16 - Income Taxes (Tables)
Note 16 - Income Taxes (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Years Ended August 31, 2015 2014 2013 U.S. operations $ 263,411 $ 242,839 $ 220,778 Non-U.S. operations 70,343 60,625 50,132 Income before income taxes $ 333,754 $ 303,464 $ 270,910 U.S. operations $ 88,147 $ 81,998 $ 61,328 Non-U.S. operations 4,556 9,923 10,945 Total provision for income taxes $ 92,703 $ 91,921 $ 72,273 Effective tax rate 27.8 % 30.3 % 26.7 % |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Years Ended August 31, 2015 2014 2013 Current U.S. federal $ 82,885 $ 77,368 $ 52,625 U.S. state and local 4,419 3,972 3,309 Non-U.S. 6,368 10,350 11,188 Total current taxes $ 93,672 91,690 $ 67,122 Deferred U.S. federal $ 720 $ 547 $ 5,036 U.S. state and local 123 111 358 Non-U.S. (1,812 ) (427 ) (243 ) Total deferred taxes $ (969 ) $ 231 $ 5,151 Total provision for income taxes $ 92,703 $ 91,921 $ 72,273 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Years Ended August 31, 2015 2014 2013 Tax at U.S. Federal statutory tax rate 35.0 % 35.0 % 35.0 % Increase (decrease) in taxes resulting from: State and local taxes, net of U.S. federal income tax benefit 1.6 1.8 2.0 Foreign income at other than U.S. rates (3.0 ) (2.9 ) (2.5 ) Domestic production activities deduction (2.2 ) (2.1 ) (2.6 ) Income tax benefits from R&D tax credits (2.7 ) (1.1 ) (4.1 ) Income tax benefits from foreign tax credits (0.3 ) (0.4 ) (1.2 ) Other, net (0.6 ) 0.0 0.1 Effective tax rate 27.8 % (1) 30.3 % 26.7 % (2) |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | At August 31, 2015 2014 Current Receivable reserve $ 541 $ 597 Deferred rent 794 1,067 Other 770 177 Net current deferred tax assets $ 2,105 $ 1,841 Non-current Depreciation on property, equipment and leasehold improvements $ 10,880 $ 9,831 Deferred rent 5,108 3,572 Stock-based compensation 17,562 18,160 Purchased intangible assets, including acquired technology (17,533 ) (10,750 ) Other 4,582 1,564 Net non-current deferred tax assets $ 20,599 $ 22,377 Total deferred tax assets $ 22,704 $ 24,218 At August 31, 2015 2014 Current Other $ 562 $ — Net current deferred tax liabilities $ 562 $ — Non-current Purchased intangible assets, including acquired technology $ 1,886 $ 3,478 Stock-based compensation — (860 ) Other (189 ) 303 Net non-current deferred tax liabilities $ 1,697 $ 2,921 Total deferred tax liabilities $ 2,259 $ 2,921 |
Summary of Income Tax Contingencies [Table Text Block] | Unrecognized income tax benefits at August 31, 2012 $ 5,464 Additions based on tax positions related to the current year 1,372 Additions for tax positions of prior years 986 Statute of limitations lapse (1,103 ) Reductions from settlements with taxing authorities (1,284 ) Unrecognized income tax benefits at August 31, 2013 $ 5,435 Additions based on tax positions related to the current year 921 Additions for tax positions of prior years 628 Statute of limitations lapse (717 ) Reductions from settlements with taxing authorities (766 ) Unrecognized income tax benefits at August 31, 2014 $ 5,501 Additions based on tax positions related to the current year 962 Additions for tax positions of prior years 1,122 Statute of limitations lapse (809 ) Unrecognized income tax benefits at August 31, 2015 $ 6,776 |
Summary of Income Tax Examinations [Table Text Block] | Major Tax Jurisdictions Open Tax Years U.S. Federal 2013 through 2015 State (various) 2010 through 2015 Europe United Kingdom 2013 through 2015 France 2012 through 2015 |
Note 17 - Debt (Tables)
Note 17 - Debt (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule of Debt [Table Text Block] | At August 31, 2015 2014 2015 Revolving Credit Facility (maturity date of September 21, 2018) $ 35,000 $ — Total Outstanding Debt at fiscal year-end $ 35,000 $ — |
Note 18 - Commitments and Con46
Note 18 - Commitments and Contingencies (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Years Ended August 31, Minimum Lease Payments 2016 $ 22,695 2017 28,002 2018 27,373 2019 25,974 2020 20,129 Thereafter 145,929 Total $ 270,102 |
Note 20 - Unaudited Quarterly47
Note 20 - Unaudited Quarterly Financial Data (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Quarterly Financial Information Disclosure [Abstract] | |
Schedule of Quarterly Financial Information [Table Text Block] | Fiscal 2015 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 242,676 $ 247,792 $ 254,522 $ 261,779 Cost of services 97,543 99,516 100,686 107,595 Selling, general and administrative 64,873 67,628 68,480 68,531 Operating income 80,260 80,648 85,356 85,653 Net income 55,860 61,598 61,409 62,184 Diluted earnings per common share (1) $ 1.32 $ 1.46 $ 1.45 $ 1.48 Weighted average common shares (diluted) 42,340 42,306 42,297 41,995 Fiscal 2014 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 222,975 $ 226,934 $ 231,761 $ 238,664 Cost of services 83,250 87,254 90,661 92,521 Selling, general and administrative 64,985 64,626 68,063 66,757 Operating income 74,740 75,054 73,037 79,386 Net income 52,178 52,426 51,532 55,407 Diluted earnings per common share (1) $ 1.19 $ 1.22 $ 1.21 $ 1.31 Weighted average common shares (diluted) 43,773 43,107 42,615 42,386 |
Note 3 - Summary of Significa48
Note 3 - Summary of Significant Accounting Policies (Details) | 12 Months Ended | |||
Aug. 31, 2015USD ($) | Aug. 31, 2014USD ($) | Aug. 31, 2013USD ($) | Aug. 31, 2012USD ($) | |
Note 3 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Unbilled Receivables, Not Billable | $ 4,000,000 | |||
Allowance for Doubtful Accounts Receivable | 1,600,000 | $ 1,700,000 | ||
Assets, Fair Value Disclosure | 113,975,000 | 96,777,000 | ||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 1,602,000 | 591,000 | ||
Interest Income and Fees, Bankers Acceptances, Certificates of Deposit and Commercial Paper | $ 2,000,000 | 1,200,000 | $ 1,300,000 | |
Number of Reporting Units | 3 | |||
Impairment of Intangible Assets, Finite-lived | $ 0 | 0 | 0 | |
Employee Compensation, Percentage of Discretionary Incentives | 15.00% | |||
Accrued Bonuses | $ 38,600,000 | 37,300,000 | ||
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | (43,694,000) | (18,431,000) | ||
Unrecognized Tax Benefits | 6,776,000 | 5,501,000 | $ 5,435,000 | $ 5,464,000 |
Unrecognized Tax Benefits, Interest on Income Taxes Accrued | $ 1,300,000 | 1,100,000 | ||
Computer Equipment [Member] | ||||
Note 3 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Property, Plant and Equipment, Useful Life | 3 years | |||
Furniture and Fixtures [Member] | ||||
Note 3 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Property, Plant and Equipment, Useful Life | 7 years | |||
Minimum [Member] | ||||
Note 3 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Finite-Lived Intangible Asset, Useful Life | 2 years | |||
Maximum [Member] | ||||
Note 3 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Finite-Lived Intangible Asset, Useful Life | 20 years | |||
Fair Value, Inputs, Level 3 [Member] | ||||
Note 3 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Assets, Fair Value Disclosure | $ 0 | 0 | ||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | $ 0 | $ 0 |
Note 4 - Fair Value Measures (D
Note 4 - Fair Value Measures (Details) - USD ($) | Aug. 31, 2015 | Aug. 31, 2014 |
Note 4 - Fair Value Measures (Details) [Line Items] | ||
Assets, Fair Value Disclosure | $ 113,975,000 | $ 96,777,000 |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 1,602,000 | 591,000 |
Long-term Debt, Fair Value | 35,000,000 | |
Long-term Debt | 35,000,000 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Note 4 - Fair Value Measures (Details) [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | $ 0 | $ 0 |
Note 4 - Fair Value Measures 50
Note 4 - Fair Value Measures (Details) - Assets and Liabilities Measured at Fair Value - USD ($) | Aug. 31, 2015 | Aug. 31, 2014 | |
Assets | |||
Corporate money market funds (1) | [1] | $ 89,443,000 | $ 75,363,000 |
Certificates of deposit | [2] | 23,497,000 | 20,008,000 |
Derivative instruments | [3] | 1,035,000 | 1,406,000 |
Total assets measured at fair value | 113,975,000 | 96,777,000 | |
Liabilities | |||
Derivative instruments | [3] | 1,602,000 | 591,000 |
Total liabilities measured at fair value | 1,602,000 | 591,000 | |
Fair Value, Inputs, Level 1 [Member] | |||
Assets | |||
Corporate money market funds (1) | [1] | $ 89,443,000 | $ 75,363,000 |
Certificates of deposit | [2] | ||
Derivative instruments | [3] | ||
Total assets measured at fair value | $ 89,443,000 | $ 75,363,000 | |
Liabilities | |||
Derivative instruments | [3] | ||
Fair Value, Inputs, Level 2 [Member] | |||
Assets | |||
Corporate money market funds (1) | [1] | ||
Certificates of deposit | [2] | $ 23,497,000 | $ 20,008,000 |
Derivative instruments | [3] | 1,035,000 | 1,406,000 |
Total assets measured at fair value | 24,532,000 | 21,414,000 | |
Liabilities | |||
Derivative instruments | [3] | 1,602,000 | 591,000 |
Total liabilities measured at fair value | $ 1,602,000 | $ 591,000 | |
Fair Value, Inputs, Level 3 [Member] | |||
Assets | |||
Corporate money market funds (1) | [1] | ||
Certificates of deposit | [2] | ||
Derivative instruments | [3] | ||
Total assets measured at fair value | $ 0 | $ 0 | |
Liabilities | |||
Derivative instruments | [3] | ||
Total liabilities measured at fair value | $ 0 | $ 0 | |
[1] | The Company's corporate money market funds are traded in an active market and the net asset value of each fund on the last day of the quarter is used to determine its fair value. As such, the Company's corporate money market funds are classified as Level 1 and included in cash and cash equivalents on the consolidated balance sheet. | ||
[2] | The Company's certificates of deposit held for investment are not debt securities and are classified as Level 2. These certificates of deposit have original maturities greater than three months, but less than one year and, as such, are classified as investments (short-term) on the consolidated balance sheet. | ||
[3] | The Company utilizes the income approach to measure fair value for its derivative instruments (foreign exchange forward contracts). The income approach uses pricing models that rely on market observable inputs such as spot, forward and interest rates, as well as credit default swap spreads and therefore are classified as Level 2. |
Note 5 - Derivative Instrumen51
Note 5 - Derivative Instruments (Details) £ in Millions, PHP in Millions, ₨ in Billions | 12 Months Ended | ||||
Aug. 31, 2015USD ($) | Aug. 31, 2014USD ($) | Aug. 31, 2015INR (₨) | Aug. 31, 2015PHP | Aug. 31, 2015GBP (£) | |
Note 5 - Derivative Instruments (Details) [Line Items] | |||||
Gain (Loss) on Discontinuation of Foreign Currency Cash Flow Hedge Due to Forecasted Transaction Probable of Not Occurring, Net | $ 0 | $ 0 | |||
India, Rupees | |||||
Note 5 - Derivative Instruments (Details) [Line Items] | |||||
Percent of Foreign Exchange Contracts Hedged | 75.00% | ||||
United Kingdom, Pounds | |||||
Note 5 - Derivative Instruments (Details) [Line Items] | |||||
Percent of Foreign Exchange Contracts Hedged | 50.00% | ||||
Euro Member Countries, Euro | |||||
Note 5 - Derivative Instruments (Details) [Line Items] | |||||
Percent of Foreign Exchange Contracts Hedged | 50.00% | ||||
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Cash Flow Hedging [Member] | |||||
Note 5 - Derivative Instruments (Details) [Line Items] | |||||
Derivative Asset, Notional Amount | $ 92,414,000 | 44,979,000 | ₨ 4 | PHP 18.1 | £ 10.5 |
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimated Net Amount to be Transferred | (1,000,000) | ||||
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | India, Rupees | Cash Flow Hedging [Member] | |||||
Note 5 - Derivative Instruments (Details) [Line Items] | |||||
Derivative Asset, Notional Amount | 56,320,000 | $ 38,479,000 | |||
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | United Kingdom, Pounds | Cash Flow Hedging [Member] | |||||
Note 5 - Derivative Instruments (Details) [Line Items] | |||||
Derivative Asset, Notional Amount | 15,831,000 | ||||
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Euro Member Countries, Euro | Cash Flow Hedging [Member] | |||||
Note 5 - Derivative Instruments (Details) [Line Items] | |||||
Derivative Asset, Notional Amount | $ 20,263,000 |
Note 5 - Derivative Instrumen52
Note 5 - Derivative Instruments (Details) - Hedging Positions and Corresponding Fair Values - Foreign Exchange Contract [Member] $ in Thousands, £ in Millions, PHP in Millions, ₨ in Billions | Aug. 31, 2015USD ($) | Aug. 31, 2015INR (₨) | Aug. 31, 2015PHP | Aug. 31, 2015GBP (£) | Aug. 31, 2014USD ($) |
Note 5 - Derivative Instruments (Details) - Hedging Positions and Corresponding Fair Values [Line Items] | |||||
Fair Value Asset (Liability) | $ (567) | $ 815 | |||
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | |||||
Note 5 - Derivative Instruments (Details) - Hedging Positions and Corresponding Fair Values [Line Items] | |||||
Gross Notional Value | 92,414 | ₨ 4 | PHP 18.1 | £ 10.5 | 44,979 |
Fair Value Asset (Liability) | (567) | 815 | |||
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | India, Rupees | |||||
Note 5 - Derivative Instruments (Details) - Hedging Positions and Corresponding Fair Values [Line Items] | |||||
Gross Notional Value | 56,320 | 38,479 | |||
Fair Value Asset (Liability) | (990) | 700 | |||
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Philippines, Pesos | |||||
Note 5 - Derivative Instruments (Details) - Hedging Positions and Corresponding Fair Values [Line Items] | |||||
Gross Notional Value | 6,500 | ||||
Fair Value Asset (Liability) | $ 115 | ||||
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Euro Member Countries, Euro | |||||
Note 5 - Derivative Instruments (Details) - Hedging Positions and Corresponding Fair Values [Line Items] | |||||
Gross Notional Value | 20,263 | ||||
Fair Value Asset (Liability) | 143 | ||||
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | United Kingdom, Pounds | |||||
Note 5 - Derivative Instruments (Details) - Hedging Positions and Corresponding Fair Values [Line Items] | |||||
Gross Notional Value | 15,831 | ||||
Fair Value Asset (Liability) | $ 280 |
Note 5 - Derivative Instrumen53
Note 5 - Derivative Instruments (Details) - Fair Value Amounts of Derivative Instruments and Gains - Foreign Exchange Contract [Member] - USD ($) $ in Thousands | Aug. 31, 2015 | Aug. 31, 2014 |
Derivatives designated as hedging instruments Assets: Foreign Currency Forward Contracts | ||
Derivatives assets designated as hedging instruments | $ 1,040 | $ 1,406 |
Liabilities: Foreign Currency Forward Contracts | ||
Derivatives liabilities designated as hedging instruments | 1,607 | 626 |
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Prepaid Expenses and Other Current Assets [Member] | ||
Derivatives designated as hedging instruments Assets: Foreign Currency Forward Contracts | ||
Derivatives assets designated as hedging instruments | 1,035 | 114 |
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Other Assets [Member] | ||
Derivatives designated as hedging instruments Assets: Foreign Currency Forward Contracts | ||
Derivatives assets designated as hedging instruments | 1,292 | |
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Accounts Payable and Accrued Liabilities [Member] | ||
Liabilities: Foreign Currency Forward Contracts | ||
Derivatives liabilities designated as hedging instruments | $ 591 | |
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Deferred Rent and Other Non-current Liabilities [Member] | ||
Liabilities: Foreign Currency Forward Contracts | ||
Derivatives liabilities designated as hedging instruments | $ 1,602 |
Note 5 - Derivative Instrumen54
Note 5 - Derivative Instruments (Details) - Derivatives in Cash Flow Hedging Relationships - Designated as Hedging Instrument [Member] - Selling, General and Administrative Expenses [Member] - Foreign Exchange Contract [Member] - Cash Flow Hedging [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 | |
Note 5 - Derivative Instruments (Details) - Derivatives in Cash Flow Hedging Relationships [Line Items] | |||
Foreign currency forward contracts | $ (1,939) | $ 8,294 | $ (6,258) |
Foreign currency forward contracts | $ (559) | $ (260) | $ (1,000) |
Note 5 - Derivative Instrumen55
Note 5 - Derivative Instruments (Details) - Offsetting of Derivative Instruments - USD ($) $ in Thousands | Aug. 31, 2015 | Aug. 31, 2014 | |
Derivatives, Fair Value [Line Items] | |||
Net derivative asset amounts | [1] | $ 1,035 | $ 1,406 |
Net derivative liability amounts | [1] | (1,602) | (591) |
Foreign Exchange Contract [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Gross derivative asset amounts | 1,040 | 1,406 | |
Gross derivative asset amounts offset in balance sheet | (5) | ||
Net derivative asset amounts | 1,035 | 1,406 | |
Gross derivative liability amounts | (1,607) | (626) | |
Gross derivative liability amounts offset in balance sheet | 5 | 35 | |
Net derivative liability amounts | (1,602) | (591) | |
Gross derivative amounts | (567) | 780 | |
Gross derivative amounts offset in balance sheet | 35 | ||
Net derivative amounts | $ (567) | $ 815 | |
[1] | The Company utilizes the income approach to measure fair value for its derivative instruments (foreign exchange forward contracts). The income approach uses pricing models that rely on market observable inputs such as spot, forward and interest rates, as well as credit default swap spreads and therefore are classified as Level 2. |
Note 6 - Other Comprehensive 56
Note 6 - Other Comprehensive (Loss) Income and Accumulated Other Comprehensive Loss (Details) - Components of Other Comprehensive Income (Loss) and Amounts Reclassified Out of Accumulated Other Comprehensive Loss - USD ($) $ in Thousands | 12 Months Ended | |||
Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 | ||
Components of Other Comprehensive Income (Loss) and Amounts Reclassified Out of Accumulated Other Comprehensive Loss [Abstract] | ||||
Foreign currency translation adjustments | $ (25,263) | $ 7,895 | $ (5,151) | |
Foreign currency translation adjustments | (25,263) | 7,895 | (5,151) | |
Realized loss on cash flow hedges reclassified to earnings (1) | [1] | 559 | 260 | 1,000 |
Realized loss on cash flow hedges reclassified to earnings (1) | [1] | 352 | 164 | 622 |
Unrealized (loss) gain on cash flow hedges recognized in AOCL | (1,939) | 8,294 | (6,258) | |
Unrealized (loss) gain on cash flow hedges recognized in AOCL | (1,220) | 5,193 | (3,918) | |
Other comprehensive (loss) income | (26,643) | 16,449 | (10,409) | |
Other comprehensive (loss) income | $ (26,131) | $ 13,252 | $ (8,447) | |
[1] | Reclassified to Selling, General and Administrative Expenses |
Note 6 - Other Comprehensive 57
Note 6 - Other Comprehensive (Loss) Income and Accumulated Other Comprehensive Loss (Details) - Components of Accumulated Other Comprehensive Loss - USD ($) $ in Thousands | Aug. 31, 2015 | Aug. 31, 2014 |
Components of Accumulated Other Comprehensive Loss [Abstract] | ||
Accumulated unrealized (losses) gains on cash flow hedges, net of tax | $ (358) | $ 510 |
Accumulated foreign currency translation adjustments | (43,694) | (18,431) |
Total accumulated other comprehensive loss | $ (44,052) | $ (17,921) |
Note 7 - Segment Information (D
Note 7 - Segment Information (Details) $ in Thousands | 12 Months Ended | ||
Aug. 31, 2015USD ($) | Aug. 31, 2014USD ($) | Aug. 31, 2013USD ($) | |
Note 7 - Segment Information (Details) [Line Items] | |||
Number of Operating Segments | 3 | ||
Goodwill (in Dollars) | $ 308,287 | $ 285,608 | $ 244,573 |
UNITED STATES | |||
Note 7 - Segment Information (Details) [Line Items] | |||
Goodwill (in Dollars) | $ 211,869 | 179,434 | 167,822 |
Goodwill Percentage Per Segment | 69.00% | ||
Europe [Member] | |||
Note 7 - Segment Information (Details) [Line Items] | |||
Goodwill (in Dollars) | $ 93,725 | 103,032 | 73,424 |
Goodwill Percentage Per Segment | 30.00% | ||
Asia Pacific [Member] | |||
Note 7 - Segment Information (Details) [Line Items] | |||
Goodwill (in Dollars) | $ 2,693 | $ 3,142 | $ 3,327 |
Goodwill Percentage Per Segment | 1.00% |
Note 7 - Segment Information 59
Note 7 - Segment Information (Details) - Results of Operations - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Aug. 31, 2015 | May. 31, 2015 | Feb. 28, 2015 | Nov. 30, 2014 | Aug. 31, 2014 | May. 31, 2014 | Feb. 28, 2014 | Nov. 30, 2013 | Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 | |||||
Segment Reporting Information [Line Items] | |||||||||||||||
Revenues from clients | $ 261,779 | $ 254,522 | $ 247,792 | $ 242,676 | $ 238,664 | $ 231,761 | $ 226,934 | $ 222,975 | $ 1,006,768 | [1] | $ 920,335 | [1] | $ 858,112 | [1] | |
Segment operating profit | 85,653 | $ 85,356 | $ 80,648 | $ 80,260 | 79,386 | $ 73,037 | $ 75,054 | $ 74,740 | 331,918 | 302,219 | 269,419 | ||||
Total assets | 736,671 | 663,212 | 736,671 | 663,212 | 690,197 | ||||||||||
Depreciation and amortization | 31,349 | 34,435 | 35,779 | ||||||||||||
Stock-based compensation | 26,371 | 22,891 | 39,951 | ||||||||||||
Capital expenditures | 25,682 | 17,743 | 18,517 | ||||||||||||
UNITED STATES | |||||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||||
Revenues from clients | [1] | 678,774 | 624,642 | 586,865 | |||||||||||
Segment operating profit | 172,980 | 165,004 | 138,706 | ||||||||||||
Total assets | 427,990 | 362,255 | 427,990 | 362,255 | 444,406 | ||||||||||
Depreciation and amortization | 23,645 | 25,574 | 27,757 | ||||||||||||
Stock-based compensation | 23,006 | 20,288 | 37,307 | ||||||||||||
Capital expenditures | 22,459 | 16,047 | 13,649 | ||||||||||||
Europe [Member] | |||||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||||
Revenues from clients | 251,522 | 227,395 | 208,827 | ||||||||||||
Segment operating profit | 116,310 | 100,937 | 100,187 | ||||||||||||
Total assets | 239,689 | 239,654 | 239,689 | 239,654 | 193,202 | ||||||||||
Depreciation and amortization | 5,135 | 5,656 | 4,027 | ||||||||||||
Stock-based compensation | 2,991 | 2,231 | 2,264 | ||||||||||||
Capital expenditures | 460 | 647 | 1,276 | ||||||||||||
Asia Pacific [Member] | |||||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||||
Revenues from clients | [1] | 76,472 | 68,298 | 62,420 | |||||||||||
Segment operating profit | 42,628 | 36,278 | 30,526 | ||||||||||||
Total assets | $ 68,992 | $ 61,303 | 68,992 | 61,303 | 52,589 | ||||||||||
Depreciation and amortization | 2,569 | 3,205 | 3,995 | ||||||||||||
Stock-based compensation | 374 | 372 | 380 | ||||||||||||
Capital expenditures | $ 2,763 | $ 1,049 | $ 3,592 | ||||||||||||
[1] | Revenues are attributed to countries based on the location of the client. |
Note 7 - Segment Information 60
Note 7 - Segment Information (Details) - Revenues from Countries That Are 10% Or More of Revenues - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Aug. 31, 2015 | May. 31, 2015 | Feb. 28, 2015 | Nov. 30, 2014 | Aug. 31, 2014 | May. 31, 2014 | Feb. 28, 2014 | Nov. 30, 2013 | Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 | |||||
Revenues1 | |||||||||||||||
Revenues by location | $ 261,779 | $ 254,522 | $ 247,792 | $ 242,676 | $ 238,664 | $ 231,761 | $ 226,934 | $ 222,975 | $ 1,006,768 | [1] | $ 920,335 | [1] | $ 858,112 | [1] | |
UNITED STATES | |||||||||||||||
Revenues1 | |||||||||||||||
Revenues by location | [1] | 678,774 | 624,642 | 586,865 | |||||||||||
UNITED KINGDOM | |||||||||||||||
Revenues1 | |||||||||||||||
Revenues by location | [1] | 144,769 | 131,848 | 121,072 | |||||||||||
All Other European Countries [Member] | |||||||||||||||
Revenues1 | |||||||||||||||
Revenues by location | [1] | 106,753 | 95,547 | 87,755 | |||||||||||
Asia Pacific [Member] | |||||||||||||||
Revenues1 | |||||||||||||||
Revenues by location | [1] | $ 76,472 | $ 68,298 | $ 62,420 | |||||||||||
[1] | Revenues are attributed to countries based on the location of the client. |
Note 7 - Segment Information 61
Note 7 - Segment Information (Details) - Long-lived Assets by Geographic Areas - USD ($) $ in Thousands | Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 | |
Long-lived Assets(1) | ||||
Long-lived assets | [1] | $ 59,264 | $ 57,641 | $ 65,371 |
UNITED STATES | ||||
Long-lived Assets(1) | ||||
Long-lived assets | [1] | 49,923 | 46,294 | 51,184 |
UNITED KINGDOM | ||||
Long-lived Assets(1) | ||||
Long-lived assets | [1] | 3,655 | 4,669 | 4,806 |
All Other European Countries [Member] | ||||
Long-lived Assets(1) | ||||
Long-lived assets | [1] | 1,322 | 2,267 | 3,051 |
Asia Pacific [Member] | ||||
Long-lived Assets(1) | ||||
Long-lived assets | [1] | $ 4,364 | $ 4,411 | $ 6,330 |
[1] | Long-lived assets consist of property, equipment and leasehold improvements, net of accumulated depreciation and amortization and exclude goodwill, intangible assets, deferred taxes and other assets. |
Note 8 - Business Combination62
Note 8 - Business Combinations (Details) $ in Thousands | Feb. 06, 2015USD ($) | Sep. 01, 2013USD ($) | Feb. 28, 2015USD ($) | Feb. 28, 2014USD ($) | Aug. 31, 2015USD ($) | Aug. 31, 2014USD ($) |
Note 8 - Business Combinations (Details) [Line Items] | ||||||
Goodwill, Acquired During Period (in Dollars) | $ 32,435 | $ 37,143 | ||||
Code Red, Inc. [Member] | ||||||
Note 8 - Business Combinations (Details) [Line Items] | ||||||
Business Combination, Consideration Transferred (in Dollars) | $ 35,953 | |||||
Number of Employees | 32 | |||||
Subscription and Circulation Revenue (in Dollars) | $ 9,300 | |||||
Finite-lived Intangible Assets Acquired (in Dollars) | 8,200 | $ 9,100 | 8,221 | |||
Goodwill, Acquired During Period (in Dollars) | $ 29,600 | |||||
Matrix Data Limited [Member] | ||||||
Note 8 - Business Combinations (Details) [Line Items] | ||||||
Business Combination, Consideration Transferred (in Dollars) | $ 31,800 | |||||
Subscription and Circulation Revenue (in Dollars) | 7,000 | |||||
Finite-lived Intangible Assets Acquired (in Dollars) | 8,700 | |||||
Goodwill, Acquired During Period (in Dollars) | $ 25,500 | |||||
Revere Data, LLC [Member] | ||||||
Note 8 - Business Combinations (Details) [Line Items] | ||||||
Business Combination, Consideration Transferred (in Dollars) | $ 15,300 | |||||
Finite-lived Intangible Assets Acquired (in Dollars) | 4,100 | |||||
Goodwill, Acquired During Period (in Dollars) | 11,600 | |||||
Business Acquisition, Revenue Reported by Acquired Entity for Last Annual Period (in Dollars) | $ 5,000 | |||||
Computer Software, Intangible Asset [Member] | Code Red, Inc. [Member] | ||||||
Note 8 - Business Combinations (Details) [Line Items] | ||||||
Finite-Lived Intangible Asset, Useful Life | 6 years | |||||
Computer Software, Intangible Asset [Member] | Matrix Data Limited [Member] | ||||||
Note 8 - Business Combinations (Details) [Line Items] | ||||||
Finite-Lived Intangible Asset, Useful Life | 5 years | |||||
Customer Relationships [Member] | Code Red, Inc. [Member] | ||||||
Note 8 - Business Combinations (Details) [Line Items] | ||||||
Finite-lived Intangible Assets Acquired (in Dollars) | 3,089 | |||||
Finite-Lived Intangible Asset, Useful Life | 7 years | |||||
Customer Relationships [Member] | Matrix Data Limited [Member] | ||||||
Note 8 - Business Combinations (Details) [Line Items] | ||||||
Finite-Lived Intangible Asset, Useful Life | 8 years | |||||
Customer Relationships [Member] | Revere Data, LLC [Member] | ||||||
Note 8 - Business Combinations (Details) [Line Items] | ||||||
Finite-Lived Intangible Asset, Useful Life | 7 years | |||||
Noncompete Agreements [Member] | Code Red, Inc. [Member] | ||||||
Note 8 - Business Combinations (Details) [Line Items] | ||||||
Finite-lived Intangible Assets Acquired (in Dollars) | 277 | |||||
Finite-Lived Intangible Asset, Useful Life | 4 years | |||||
Noncompete Agreements [Member] | Matrix Data Limited [Member] | ||||||
Note 8 - Business Combinations (Details) [Line Items] | ||||||
Finite-Lived Intangible Asset, Useful Life | 3 years | |||||
Noncompete Agreements [Member] | Revere Data, LLC [Member] | ||||||
Note 8 - Business Combinations (Details) [Line Items] | ||||||
Finite-Lived Intangible Asset, Useful Life | 2 years | |||||
Trade Names [Member] | Code Red, Inc. [Member] | ||||||
Note 8 - Business Combinations (Details) [Line Items] | ||||||
Finite-lived Intangible Assets Acquired (in Dollars) | 127 | |||||
Finite-Lived Intangible Asset, Useful Life | 3 years | |||||
Trade Names [Member] | Matrix Data Limited [Member] | ||||||
Note 8 - Business Combinations (Details) [Line Items] | ||||||
Finite-Lived Intangible Asset, Useful Life | 4 years | |||||
Trade Names [Member] | Revere Data, LLC [Member] | ||||||
Note 8 - Business Combinations (Details) [Line Items] | ||||||
Finite-Lived Intangible Asset, Useful Life | 4 years | |||||
Data Content [Member] | Code Red, Inc. [Member] | ||||||
Note 8 - Business Combinations (Details) [Line Items] | ||||||
Finite-lived Intangible Assets Acquired (in Dollars) | $ 4,728 | |||||
Data Content [Member] | Matrix Data Limited [Member] | ||||||
Note 8 - Business Combinations (Details) [Line Items] | ||||||
Finite-Lived Intangible Asset, Useful Life | 4 years | |||||
Data Content [Member] | Revere Data, LLC [Member] | ||||||
Note 8 - Business Combinations (Details) [Line Items] | ||||||
Finite-Lived Intangible Asset, Useful Life | 5 years |
Note 8 - Business Combination63
Note 8 - Business Combinations (Details) - Purchase Price of Acquisition - Code Red, Inc. [Member] $ in Thousands | Feb. 06, 2015USD ($) |
Business Acquisition [Line Items] | |
Cash consideration | $ 32,962 |
Fair value of FactSet stock issued | 2,991 |
Total purchase price | $ 35,953 |
Note 8 - Business Combination64
Note 8 - Business Combinations (Details) - Assets Acquired - USD ($) $ in Thousands | Aug. 31, 2015 | Feb. 06, 2015 | Aug. 31, 2014 | Feb. 28, 2014 | Sep. 01, 2013 | Aug. 31, 2013 |
Note 8 - Business Combinations (Details) - Assets Acquired [Line Items] | ||||||
Goodwill | $ 308,287 | $ 285,608 | $ 244,573 | |||
Code Red, Inc. [Member] | ||||||
Note 8 - Business Combinations (Details) - Assets Acquired [Line Items] | ||||||
Tangible assets acquired | $ 3,090 | |||||
Goodwill | 29,627 | |||||
Total assets acquired | $ 40,938 | |||||
Liabilities assumed | (4,985) | |||||
Net assets acquired | 35,953 | |||||
Matrix Data Limited [Member] | ||||||
Note 8 - Business Combinations (Details) - Assets Acquired [Line Items] | ||||||
Tangible assets acquired | $ 7,459 | |||||
Goodwill | 25,531 | |||||
Total assets acquired | 41,739 | |||||
Liabilities assumed | (9,941) | |||||
Net assets acquired | 31,798 | |||||
Revere Data, LLC [Member] | ||||||
Note 8 - Business Combinations (Details) - Assets Acquired [Line Items] | ||||||
Tangible assets acquired | 544 | |||||
Goodwill | 11,612 | |||||
Total assets acquired | 16,237 | |||||
Liabilities assumed | (949) | |||||
Net assets acquired | 15,288 | |||||
Computer Software, Intangible Asset [Member] | Code Red, Inc. [Member] | ||||||
Note 8 - Business Combinations (Details) - Assets Acquired [Line Items] | ||||||
Amortizable intangible assets | 4,728 | |||||
Computer Software, Intangible Asset [Member] | Matrix Data Limited [Member] | ||||||
Note 8 - Business Combinations (Details) - Assets Acquired [Line Items] | ||||||
Amortizable intangible assets | 1,708 | |||||
Customer Relationships [Member] | Code Red, Inc. [Member] | ||||||
Note 8 - Business Combinations (Details) - Assets Acquired [Line Items] | ||||||
Amortizable intangible assets | 3,089 | |||||
Customer Relationships [Member] | Matrix Data Limited [Member] | ||||||
Note 8 - Business Combinations (Details) - Assets Acquired [Line Items] | ||||||
Amortizable intangible assets | 2,816 | |||||
Customer Relationships [Member] | Revere Data, LLC [Member] | ||||||
Note 8 - Business Combinations (Details) - Assets Acquired [Line Items] | ||||||
Amortizable intangible assets | 827 | |||||
Noncompete Agreements [Member] | Code Red, Inc. [Member] | ||||||
Note 8 - Business Combinations (Details) - Assets Acquired [Line Items] | ||||||
Amortizable intangible assets | 277 | |||||
Noncompete Agreements [Member] | Matrix Data Limited [Member] | ||||||
Note 8 - Business Combinations (Details) - Assets Acquired [Line Items] | ||||||
Amortizable intangible assets | 147 | |||||
Noncompete Agreements [Member] | Revere Data, LLC [Member] | ||||||
Note 8 - Business Combinations (Details) - Assets Acquired [Line Items] | ||||||
Amortizable intangible assets | 162 | |||||
Trade Names [Member] | Code Red, Inc. [Member] | ||||||
Note 8 - Business Combinations (Details) - Assets Acquired [Line Items] | ||||||
Amortizable intangible assets | $ 127 | |||||
Trade Names [Member] | Matrix Data Limited [Member] | ||||||
Note 8 - Business Combinations (Details) - Assets Acquired [Line Items] | ||||||
Amortizable intangible assets | 670 | |||||
Trade Names [Member] | Revere Data, LLC [Member] | ||||||
Note 8 - Business Combinations (Details) - Assets Acquired [Line Items] | ||||||
Amortizable intangible assets | 293 | |||||
Data Content [Member] | Matrix Data Limited [Member] | ||||||
Note 8 - Business Combinations (Details) - Assets Acquired [Line Items] | ||||||
Amortizable intangible assets | $ 3,408 | |||||
Data Content [Member] | Revere Data, LLC [Member] | ||||||
Note 8 - Business Combinations (Details) - Assets Acquired [Line Items] | ||||||
Amortizable intangible assets | $ 2,799 |
Note 9 - Goodwill (Details)
Note 9 - Goodwill (Details) | 12 Months Ended |
Aug. 31, 2015 | |
Disclosure Text Block Supplement [Abstract] | |
Number of Reportable Segments | 3 |
Note 9 - Goodwill (Details) - C
Note 9 - Goodwill (Details) - Changes in the Carrying Amount of Goodwill by Segment - USD ($) $ in Thousands | 12 Months Ended | |
Aug. 31, 2015 | Aug. 31, 2014 | |
Goodwill [Line Items] | ||
Balance | $ 285,608 | $ 244,573 |
Goodwill acquired during the period | 32,435 | 37,143 |
Foreign currency translations | (9,756) | 3,892 |
Balance | 308,287 | 285,608 |
UNITED STATES | ||
Goodwill [Line Items] | ||
Balance | 179,434 | 167,822 |
Goodwill acquired during the period | 32,435 | 11,612 |
Balance | 211,869 | 179,434 |
Europe [Member] | ||
Goodwill [Line Items] | ||
Balance | 103,032 | 73,424 |
Goodwill acquired during the period | 25,531 | |
Foreign currency translations | (9,307) | 4,077 |
Balance | 93,725 | 103,032 |
Asia Pacific [Member] | ||
Goodwill [Line Items] | ||
Balance | 3,142 | 3,327 |
Foreign currency translations | (449) | (185) |
Balance | $ 2,693 | $ 3,142 |
Note 10 - Intangible Assets (De
Note 10 - Intangible Assets (Details) - USD ($) $ in Thousands | Feb. 06, 2015 | Feb. 28, 2015 | Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 |
Note 10 - Intangible Assets (Details) [Line Items] | |||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 11 years 36 days | ||||
Impairment of Intangible Assets (Excluding Goodwill) | $ 0 | $ 0 | $ 0 | ||
Acquired Finite-lived Intangible Asset, Residual Value | 0 | ||||
Amortization of Intangible Assets | $ 8,200 | $ 8,500 | $ 7,100 | ||
Code Red, Inc. [Member] | |||||
Note 10 - Intangible Assets (Details) [Line Items] | |||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 6 years 109 days | 6 years 109 days | |||
Finite-lived Intangible Assets Acquired | $ 8,200 | $ 9,100 | $ 8,221 |
Note 10 - Intangible Assets (68
Note 10 - Intangible Assets (Details) - Identifiable Intangible Assets - USD ($) $ in Thousands | Aug. 31, 2015 | Aug. 31, 2014 |
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | $ 91,659 | $ 109,870 |
Accumulated amortization | 51,607 | 68,015 |
Net carrying amount | 40,052 | 41,855 |
Data Content [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 39,911 | 56,974 |
Accumulated amortization | 16,667 | 27,644 |
Net carrying amount | 23,244 | 29,320 |
Customer Relationships [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 27,873 | 25,821 |
Accumulated amortization | 18,241 | 17,443 |
Net carrying amount | 9,632 | 8,378 |
Computer Software, Intangible Asset [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 21,203 | 22,881 |
Accumulated amortization | 15,042 | 20,089 |
Net carrying amount | 6,161 | 2,792 |
Noncompete Agreements [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 1,058 | 2,465 |
Accumulated amortization | 637 | 1,881 |
Net carrying amount | 421 | 584 |
Trade Names [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 1,614 | 1,729 |
Accumulated amortization | 1,020 | 958 |
Net carrying amount | $ 594 | $ 771 |
Note 10 - Intangible Assets (69
Note 10 - Intangible Assets (Details) - Intangible Assets Acquired - USD ($) $ in Thousands | Feb. 06, 2015 | Feb. 28, 2015 | Aug. 31, 2015 |
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Amortization period | 11 years 36 days | ||
Code Red, Inc. [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Amortization period | 6 years 109 days | 6 years 109 days | |
Acquisition cost | $ 8,200 | $ 9,100 | $ 8,221 |
Data Content [Member] | Code Red, Inc. [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Amortization period | 6 years | ||
Acquisition cost | $ 4,728 | ||
Customer Relationships [Member] | Code Red, Inc. [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Amortization period | 7 years | ||
Acquisition cost | $ 3,089 | ||
Noncompete Agreements [Member] | Code Red, Inc. [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Amortization period | 4 years | ||
Acquisition cost | $ 277 | ||
Trade Names [Member] | Code Red, Inc. [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Amortization period | 3 years | ||
Acquisition cost | $ 127 |
Note 10 - Intangible Assets (70
Note 10 - Intangible Assets (Details) - Estimated Amortization Expense $ in Thousands | Aug. 31, 2015USD ($) |
Estimated Amortization Expense [Abstract] | |
2,016 | $ 7,031 |
2,017 | 6,949 |
2,018 | 5,816 |
2,019 | 4,492 |
2,020 | 3,461 |
Thereafter | 12,303 |
Total | $ 40,052 |
Note 11 - Property, Equipment71
Note 11 - Property, Equipment and Leasehold Improvements (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 | |
Property, Plant and Equipment [Abstract] | |||
Depreciation | $ 23.1 | $ 25.9 | $ 28.4 |
Note 11 - Property, Equipment72
Note 11 - Property, Equipment and Leasehold Improvements (Details) - Property, Equipment and Leasehold Improvements - USD ($) $ in Thousands | Aug. 31, 2015 | Aug. 31, 2014 |
Property, Plant and Equipment [Line Items] | ||
Property, plant, and equipment | $ 213,279 | $ 201,713 |
Less accumulated depreciation and amortization | (154,015) | (144,072) |
Property, equipment and leasehold improvements, net | 59,264 | 57,641 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant, and equipment | 92,427 | 90,487 |
Computer Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant, and equipment | 87,732 | 81,853 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant, and equipment | $ 33,120 | $ 29,373 |
Note 12 - Common Stock and Ea73
Note 12 - Common Stock and Earnings Per Share (Details) - $ / shares | May. 12, 2015 | May. 11, 2015 | Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 |
Note 12 - Common Stock and Earnings Per Share (Details) [Line Items] | |||||
Increase in Dividend Rate | 12.80% | ||||
Common Stock, Dividends, Per Share, Cash Paid (in Dollars per share) | $ 0.44 | $ 0.39 | |||
Employee Stock Option [Member] | |||||
Note 12 - Common Stock and Earnings Per Share (Details) [Line Items] | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 88,090 | 0 | 6,408 | ||
Performance Shares [Member] | |||||
Note 12 - Common Stock and Earnings Per Share (Details) [Line Items] | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 478,945 | 380,653 | 1,202,685 | ||
Per Annum [Member] | |||||
Note 12 - Common Stock and Earnings Per Share (Details) [Line Items] | |||||
Common Stock, Dividends, Per Share, Cash Paid (in Dollars per share) | $ 1.76 |
Note 12 - Common Stock and Ea74
Note 12 - Common Stock and Earnings Per Share (Details) - Shares of Common Stock Outstanding - shares | 12 Months Ended | ||
Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 | |
Shares of Common Stock Outstanding [Abstract] | |||
Balance, beginning of year (September 1) | 41,792,802 | 43,324,000 | 44,279,000 |
Common stock issued for employee stock plans | 1,213,000 | 959,000 | 2,459,000 |
Repurchases of common stock | (1,689,337) | (2,489,993) | (3,414,000) |
Balance, end of year (August 31) | 41,316,902 | 41,792,802 | 43,324,000 |
Note 12 - Common Stock and Ea75
Note 12 - Common Stock and Earnings Per Share (Details) - Weighted Average Shares Outstanding - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||||||
Aug. 31, 2015 | May. 31, 2015 | Feb. 28, 2015 | Nov. 30, 2014 | Aug. 31, 2014 | May. 31, 2014 | Feb. 28, 2014 | Nov. 30, 2013 | Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 | |||||||||
Basic EPS | |||||||||||||||||||
Income available to common stockholders (in Dollars) | $ 241,051 | $ 211,543 | $ 198,637 | ||||||||||||||||
Income available to common stockholders | 41,572 | 42,436 | 43,890 | ||||||||||||||||
Income available to common stockholders (in Dollars per share) | $ 5.80 | $ 4.98 | $ 4.53 | ||||||||||||||||
Diluted EPS | |||||||||||||||||||
Dilutive effect of stock options and restricted stock | 663 | 534 | 734 | ||||||||||||||||
Income available to common stockholders (in Dollars) | $ 241,051 | $ 211,543 | $ 198,637 | ||||||||||||||||
Income available to common stockholders | 41,995 | 42,297 | 42,306 | 42,340 | 42,386 | 42,615 | 43,107 | 43,773 | 42,235 | 42,970 | 44,624 | ||||||||
Income available to common stockholders (in Dollars per share) | $ 1.48 | [1] | $ 1.45 | [1] | $ 1.46 | [1] | $ 1.32 | [1] | $ 1.31 | [1] | $ 1.21 | [1] | $ 1.22 | [1] | $ 1.19 | [1] | $ 5.71 | $ 4.92 | $ 4.45 |
[1] | Diluted earnings per common share is calculated independently for each of the periods presented. Accordingly, the sum of the quarterly earnings per share amounts may not equal the total for the fiscal year. |
Note 13 - Stockholders' Equit76
Note 13 - Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands | Dec. 15, 2014 | Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2012 | |||
Note 13 - Stockholders' Equity (Details) [Line Items] | ||||||||
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 | ||||||
Preferred Stock, Par or Stated Value Per Share (in Dollars per share) | $ 0.01 | $ 0.01 | ||||||
Preferred Stock, Shares Issued | 0 | 0 | ||||||
Preferred Stock, Shares Outstanding | 0 | 0 | ||||||
Common Stock, Shares Authorized | 150,000,000 | 150,000,000 | ||||||
Common Stock, Par or Stated Value Per Share (in Dollars per share) | $ 0.01 | $ 0.01 | ||||||
Common Stock, Shares, Issued | 50,328,423 | 49,110,218 | ||||||
Treasury Stock, Shares | 9,011,521 | 7,317,416 | ||||||
Common Stock, Shares, Outstanding | 41,316,902 | 41,792,802 | 43,324,000 | 44,279,000 | ||||
Stock Repurchase Program, Additional Amount Authorized (in Dollars) | $ 300,000 | |||||||
Treasury Stock, Shares, Acquired | 1,689,337 | 2,489,993 | 3,414,000 | |||||
Treasury Stock, Value, Acquired, Cost Method (in Dollars) | $ 253,076 | $ 275,415 | $ 327,454 | |||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount (in Dollars) | $ 134,200 | 87,000 | ||||||
Shares Paid for Tax Withholding for Share Based Compensation | 23,192 | |||||||
Payments Related to Tax Withholding for Share-based Compensation (in Dollars) | $ 3,100 | $ 4,400 | ||||||
Previously Granted Restricted Stock Awards [Member] | ||||||||
Note 13 - Stockholders' Equity (Details) [Line Items] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 94,870 | 135,205 | ||||||
Shares Paid for Tax Withholding for Share Based Compensation | 41,093 | |||||||
Restricted Stock [Member] | ||||||||
Note 13 - Stockholders' Equity (Details) [Line Items] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 95,000 | [1] | 149,741 | [2] | 150,000 | [3] | ||
[1] | The 94,870 restricted stock awards that vested during fiscal 2015 were comprised of: 53,495 of awards granted on October 23, 2014, which cliff vested 60% after three years (on October 23, 2012) and 40% after five years (on October 23, 2014); 14,683 restricted stock awards that were granted on April 8, 2013, which cliff vest 20% annually upon the anniversary date of the grant; 17,228 awards relating to restricted stock granted on February 9, 2010; and 9,464 restricted stock awards that were previously granted between November 2013 and November 2014. | |||||||
[2] | The 135,205 restricted stock awards that vested during fiscal 2014 were comprised of: 62,544 of awards granted on November 8, 2010, which cliff vested 60% after three years (on November 8, 2013) with the remaining 40% cliff vesting after five years (on November 8, 2015); 29,087 of awards granted on April 14, 2011, which vested 100% after three years on April 14, 2014; 26,344 restricted stock awards that were granted on April 8, 2013, which cliff vest 20% annually upon the anniversary date of the grant; and 17,230 awards relating torestricted stock granted on February 9, 2010 which cliff vested 50% after four years (on February 9, 2014). | |||||||
[3] | Of the total 149,741 restricted stock awards that vested during fiscal 2013, 87,758 related to awards granted on October 23, 2009. These restricted stock awards cliff vested 60% after three years (on October 23, 2012) and 40% after five years (on October 23, 2014). An additional 55,572 awards that vested in fiscal 2013 related to awards granted on February 9, 2010 which cliff vested 100% after three years (on February 9, 2013). The remaining 6,411 restricted stock awards that vested were previously granted between June 2010 and July 2011 and vesting occurred when certain ASV targets were met in fiscal 2013. |
Note 13 - Stockholders' Equit77
Note 13 - Stockholders' Equity (Details) - Dividends Declared - USD ($) $ / shares in Units, $ in Thousands | Aug. 10, 2015 | May. 12, 2015 | Feb. 11, 2015 | Nov. 12, 2014 | Aug. 14, 2014 | May. 05, 2014 | Feb. 11, 2014 | Nov. 14, 2013 | Aug. 15, 2013 | May. 14, 2013 | Feb. 21, 2013 | Nov. 15, 2012 |
Dividends Declared [Abstract] | ||||||||||||
Dividends Per Share of Common Stock | $ 0.44 | $ 0.44 | $ 0.39 | $ 0.39 | $ 0.39 | $ 0.39 | $ 0.35 | $ 0.35 | $ 0.35 | $ 0.35 | $ 0.31 | $ 0.31 |
Record Date | Aug. 31, 2015 | May 29, 2015 | Feb. 27, 2015 | Nov. 28, 2014 | Aug. 29, 2014 | May 30, 2014 | Feb. 28, 2014 | Nov. 29, 2013 | Aug. 31, 2013 | May 31, 2013 | Feb. 28, 2013 | Nov. 30, 2012 |
Total $ Amount | $ 18,179 | $ 18,274 | $ 16,236 | $ 16,216 | $ 16,299 | $ 16,386 | $ 14,827 | $ 15,046 | $ 15,164 | $ 15,413 | $ 13,510 | $ 13,746 |
Payment Date | Sep. 15, 2015 | Jun. 16, 2015 | Mar. 17, 2015 | Dec. 16, 2014 | Sep. 16, 2014 | Jun. 17, 2014 | Mar. 18, 2014 | Dec. 17, 2013 | Sep. 17, 2013 | Jun. 18, 2013 | Mar. 19, 2013 | Dec. 18, 2012 |
Note 14 - Stock Option and Re78
Note 14 - Stock Option and Retirement Plans (Details) - USD ($) | Jul. 31, 2015 | May. 01, 2015 | Feb. 09, 2015 | Dec. 17, 2014 | Nov. 03, 2014 | Oct. 23, 2014 | Aug. 31, 2014 | Feb. 03, 2014 | Dec. 23, 2013 | Nov. 01, 2013 | Sep. 17, 2013 | Apr. 08, 2013 | Apr. 14, 2011 | Nov. 08, 2010 | Feb. 09, 2010 | Oct. 23, 2009 | Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 | Nov. 30, 2012 | Jul. 31, 2012 | Nov. 30, 2011 | Aug. 31, 2015 | Feb. 28, 2015 | Aug. 31, 2014 | May. 31, 2014 | Feb. 28, 2014 | Nov. 30, 2013 | Aug. 31, 2013 | May. 31, 2013 | Nov. 30, 2012 | Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 | Nov. 30, 2014 | Aug. 31, 2013 | Aug. 31, 2017 | Dec. 16, 2014 | Aug. 31, 2012 | ||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | 134,000 | 849,000 | [1] | 743,000 | [2] | ||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value (in Dollars) | $ 107,116,000 | $ 107,116,000 | $ 107,116,000 | ||||||||||||||||||||||||||||||||||||||||
Share Price (in Dollars per share) | $ 157.92 | $ 157.92 | $ 157.92 | ||||||||||||||||||||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized (in Dollars) | $ 60,500,000 | $ 60,500,000 | $ 60,500,000 | ||||||||||||||||||||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 3 years 146 days | ||||||||||||||||||||||||||||||||||||||||||
Common Stock, Capital Shares Reserved for Future Issuance | 500,000 | ||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | 85.00% | ||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | 10.00% | 10.00% | 10.00% | ||||||||||||||||||||||||||||||||||||||||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 60.00% | ||||||||||||||||||||||||||||||||||||||||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 4.00% | ||||||||||||||||||||||||||||||||||||||||||
Defined Contribution Plan, Employer Matching Contribution, Vesting Period | 5 years | ||||||||||||||||||||||||||||||||||||||||||
Defined Contribution Plan, Employer Discretionary Contribution Amount (in Dollars) | $ 8,600,000 | $ 7,700,000 | $ 7,500,000 | ||||||||||||||||||||||||||||||||||||||||
Performance Shares [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 137,522 | 165,949 | 36,695 | 1,011,510 | |||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | ||||||||||||||||||||||||||||||||||||||||||
Performance Shares [Member] | Code Red, Inc. [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 137,522 | ||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 0.00% | ||||||||||||||||||||||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized (in Dollars) | $ 2,100,000 | $ 2,100,000 | $ 2,100,000 | ||||||||||||||||||||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 3 years 146 days | ||||||||||||||||||||||||||||||||||||||||||
Performance Shares [Member] | Matrix Data Limited [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 165,949 | ||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options Measurement Period | 5 years | ||||||||||||||||||||||||||||||||||||||||||
Performance Shares [Member] | Revere Data, LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 36,695 | ||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | 6,184 | ||||||||||||||||||||||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized (in Dollars) | $ 400,000 | $ 400,000 | $ 400,000 | ||||||||||||||||||||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 3 years | ||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number | 18,553 | 18,553 | 18,553 | ||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Not Vested, Number of Shares | 18,142 | ||||||||||||||||||||||||||||||||||||||||||
Performance Shares [Member] | Revere Data, LLC [Member] | Scenario, Forecast [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 80.00% | ||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options Measurement Period | 4 years | ||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number | 11,958 | ||||||||||||||||||||||||||||||||||||||||||
Restricted Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 5,704 | 448 | 21,294 | 15,070 | 841 | 12,264 | 30,144 | 153,972 | 7,744 | 14,683 | 55,000 | 204,000 | 132,000 | ||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share) | $ 157.84 | $ 153.89 | $ 140.88 | $ 132.71 | $ 124.18 | $ 95.45 | $ 102.84 | $ 102.22 | $ 103.30 | $ 85.80 | $ 138.23 | $ 101.95 | $ 85.80 | ||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 368,000 | 313,000 | 368,000 | 358,000 | 313,000 | 368,000 | 358,000 | 313,000 | 368,000 | 358,000 | 358,000 | 383,000 | |||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 95,000 | [3] | 149,741 | [4] | 150,000 | [5] | |||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other Than Options, Share Equivalent | 2.5 | 2.5 | 2.5 | ||||||||||||||||||||||||||||||||||||||||
Restricted Stock [Member] | Vested During Fiscal 2013 [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 87,758 | ||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 55,572 | 149,741 | |||||||||||||||||||||||||||||||||||||||||
Restricted Stock [Member] | Vested During Fiscal 2014 [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 29,087 | 62,544 | 17,230 | ||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 135,205 | ||||||||||||||||||||||||||||||||||||||||||
Restricted Stock [Member] | Vested During Fiscal 2015 [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 53,495 | 17,228 | 9,464 | ||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 94,870 | ||||||||||||||||||||||||||||||||||||||||||
Restricted Stock [Member] | Revere Data, LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized (in Dollars) | $ 0 | $ 0 | $ 0 | ||||||||||||||||||||||||||||||||||||||||
2008 Employee Stock Purchase Plan [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share) | $ 122.76 | $ 89.28 | $ 80.77 | ||||||||||||||||||||||||||||||||||||||||
Common Stock, Capital Shares Reserved for Future Issuance | 481,616 | 481,616 | 481,616 | ||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized | 500,000 | ||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 63,265 | 74,889 | 75,281 | ||||||||||||||||||||||||||||||||||||||||
Treasury Stock Acquired, Average Cost Per Share (in Dollars per share) | $ 74,889 | $ 75,281 | |||||||||||||||||||||||||||||||||||||||||
2004 Stock Option and Award Plan [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 828,652 | 391,478 | 1,674,966 | ||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share) | $ 141.79 | $ 106.73 | $ 92.21 | ||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value (in Dollars) | $ 111,300,000 | $ 107,100,000 | $ 111,300,000 | $ 107,100,000 | $ 111,300,000 | $ 107,100,000 | $ 111,300,000 | ||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | 3 years 328 days | 3 years 146 days | |||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value (in Dollars) | $ 92,700,000 | $ 44,000,000 | $ 99,100,000 | ||||||||||||||||||||||||||||||||||||||||
2004 Stock Option and Award Plan [Member] | Employee Stock Option [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | ||||||||||||||||||||||||||||||||||||||||||
2004 Stock Option and Award Plan [Member] | Performance-based Employee Stock Options [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 665,551 | ||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | 665,551 | ||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | 0 | ||||||||||||||||||||||||||||||||||||||||||
2004 Stock Option and Award Plan [Member] | November 2012 Annual Employee Performance-based Option Grant [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 1,011,510 | ||||||||||||||||||||||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized (in Dollars) | $ 900,000 | $ 900,000 | $ 900,000 | $ 900,000 | |||||||||||||||||||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 36 days | ||||||||||||||||||||||||||||||||||||||||||
2004 Stock Option and Award Plan [Member] | July 2012 Performance-based Option Grant [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 241,546 | ||||||||||||||||||||||||||||||||||||||||||
2004 Stock Option and Award Plan [Member] | Restricted Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized (in Dollars) | $ 20,500,000 | $ 20,500,000 | $ 20,500,000 | ||||||||||||||||||||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 3 years 73 days | ||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | [6] | 137,000 | 510,000 | 329,000 | |||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share) | $ 138.23 | $ 101.95 | $ 85.80 | ||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 313,407 | 313,407 | 313,407 | ||||||||||||||||||||||||||||||||||||||||
2004 Stock Option and Award Plan [Member] | Restricted Stock [Member] | Employees [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 54,862 | 204,124 | 131,702 | ||||||||||||||||||||||||||||||||||||||||
Granted Between June 2010 and July 2011 [Member] | Restricted Stock [Member] | Vested During Fiscal 2013 [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 6,411 | ||||||||||||||||||||||||||||||||||||||||||
Became Eligible to Vest on August 31, 2014 [Member] | 2004 Stock Option and Award Plan [Member] | November 2012 Annual Employee Performance-based Option Grant [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | 185,014 | ||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | ||||||||||||||||||||||||||||||||||||||||||
Became Eligible to Vest on August 31, 2014 [Member] | 2004 Stock Option and Award Plan [Member] | November 2012 Annual Employee Performance-based Option Grant [Member] | Recorded as Forfeitures [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 80.00% | ||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Award, Tranche One [Member] | Performance Shares [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | 48,314 | ||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | ||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Award, Tranche One [Member] | Performance Shares [Member] | Code Red, Inc. [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 68,761 | ||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 10.00% | ||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Award, Tranche Two [Member] | Performance Shares [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | ||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Award, Tranche Two [Member] | Performance Shares [Member] | Code Red, Inc. [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | ||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 68,761 | ||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 40.00% | ||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Award, Tranche Three [Member] | Performance Shares [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | ||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Award, Tranche Three [Member] | Performance Shares [Member] | Code Red, Inc. [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 70.00% | ||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Award, Tranche Four [Member] | Performance Shares [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | ||||||||||||||||||||||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized (in Dollars) | $ 600,000 | $ 600,000 | $ 600,000 | ||||||||||||||||||||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years | ||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Award, Tranche Four [Member] | Performance Shares [Member] | Scenario, Forecast [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | ||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Award, Tranche Four [Member] | Performance Shares [Member] | Code Red, Inc. [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 100.00% | ||||||||||||||||||||||||||||||||||||||||||
Vest After Three Years [Member] | Restricted Stock [Member] | Vested During Fiscal 2013 [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | 3 years | |||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 100.00% | 60.00% | |||||||||||||||||||||||||||||||||||||||||
Vest After Three Years [Member] | Restricted Stock [Member] | Vested During Fiscal 2014 [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | 3 years | |||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 100.00% | 60.00% | |||||||||||||||||||||||||||||||||||||||||
Vest After Three Years [Member] | Restricted Stock [Member] | Vested During Fiscal 2015 [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | ||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 60.00% | ||||||||||||||||||||||||||||||||||||||||||
Vest After Five Years [Member] | Restricted Stock [Member] | Vested During Fiscal 2013 [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | ||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 40.00% | ||||||||||||||||||||||||||||||||||||||||||
Vest After Five Years [Member] | Restricted Stock [Member] | Vested During Fiscal 2014 [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | ||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 40.00% | ||||||||||||||||||||||||||||||||||||||||||
Vest After Five Years [Member] | Restricted Stock [Member] | Vested During Fiscal 2015 [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | ||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 40.00% | ||||||||||||||||||||||||||||||||||||||||||
Vest Annually [Member] | Restricted Stock [Member] | Vested During Fiscal 2014 [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | ||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 26,344 | ||||||||||||||||||||||||||||||||||||||||||
Vest Annually [Member] | Restricted Stock [Member] | Vested During Fiscal 2015 [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | ||||||||||||||||||||||||||||||||||||||||||
Vest After Four Years [Member] | Restricted Stock [Member] | Vested During Fiscal 2014 [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | ||||||||||||||||||||||||||||||||||||||||||
Minimum [Member] | 2004 Stock Option and Award Plan [Member] | Employee Stock Option [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 7 years | ||||||||||||||||||||||||||||||||||||||||||
Maximum [Member] | Employee Stock Option [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share) | $ 141.84 | $ 106.69 | $ 92.22 | ||||||||||||||||||||||||||||||||||||||||
Maximum [Member] | 2004 Stock Option and Award Plan [Member] | Employee Stock Option [Member] | |||||||||||||||||||||||||||||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||||||||||||||||||||||||||||||||||||||||
[1] | In November 2012, FactSet granted 1,011,510 performance-based employee stock options. Based upon the actual growth in both organic ASV and diluted EPS during the two fiscal years ended August 31, 2014, 20% of the shares became eligible to vest on August 31, 2014 and the remaining were recorded asforfeitures in August 2014. | ||||||||||||||||||||||||||||||||||||||||||
[2] | In November 2011, FactSet granted 665,551 performance-based employee stock options. None of these performance-based stock options granted vested because FactSet did not achieve certain performance levels during the two fiscal years ended August 31, 2013. As such, these stock options were recorded as forfeitures in August 2013. | ||||||||||||||||||||||||||||||||||||||||||
[3] | The 94,870 restricted stock awards that vested during fiscal 2015 were comprised of: 53,495 of awards granted on October 23, 2014, which cliff vested 60% after three years (on October 23, 2012) and 40% after five years (on October 23, 2014); 14,683 restricted stock awards that were granted on April 8, 2013, which cliff vest 20% annually upon the anniversary date of the grant; 17,228 awards relating to restricted stock granted on February 9, 2010; and 9,464 restricted stock awards that were previously granted between November 2013 and November 2014. | ||||||||||||||||||||||||||||||||||||||||||
[4] | The 135,205 restricted stock awards that vested during fiscal 2014 were comprised of: 62,544 of awards granted on November 8, 2010, which cliff vested 60% after three years (on November 8, 2013) with the remaining 40% cliff vesting after five years (on November 8, 2015); 29,087 of awards granted on April 14, 2011, which vested 100% after three years on April 14, 2014; 26,344 restricted stock awards that were granted on April 8, 2013, which cliff vest 20% annually upon the anniversary date of the grant; and 17,230 awards relating torestricted stock granted on February 9, 2010 which cliff vested 50% after four years (on February 9, 2014). | ||||||||||||||||||||||||||||||||||||||||||
[5] | Of the total 149,741 restricted stock awards that vested during fiscal 2013, 87,758 related to awards granted on October 23, 2009. These restricted stock awards cliff vested 60% after three years (on October 23, 2012) and 40% after five years (on October 23, 2014). An additional 55,572 awards that vested in fiscal 2013 related to awards granted on February 9, 2010 which cliff vested 100% after three years (on February 9, 2013). The remaining 6,411 restricted stock awards that vested were previously granted between June 2010 and July 2011 and vesting occurred when certain ASV targets were met in fiscal 2013. | ||||||||||||||||||||||||||||||||||||||||||
[6] | Each restricted stock award granted is equivalent to 2.5 shares granted under the Company's option plan. |
Note 14 - Stock Option and Re79
Note 14 - Stock Option and Retirement Plans (Details) - Summary of Stock Option Activity - $ / shares | 3 Months Ended | 12 Months Ended | |||||||||||||||
Aug. 31, 2015 | May. 31, 2015 | Feb. 28, 2015 | Nov. 30, 2014 | Aug. 31, 2014 | May. 31, 2014 | Feb. 28, 2014 | Nov. 30, 2013 | Aug. 31, 2013 | May. 31, 2013 | Feb. 28, 2013 | Nov. 30, 2012 | Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 | |||
Note 14 - Stock Option and Retirement Plans (Details) - Summary of Stock Option Activity [Line Items] | |||||||||||||||||
Balance, number outstanding | 3,482,000 | 4,729,000 | 6,083,000 | 3,482,000 | 4,729,000 | 6,083,000 | |||||||||||
Balance, weighted average exercise price per share | $ 79.67 | $ 75.95 | $ 64.76 | $ 79.67 | $ 75.95 | $ 64.76 | |||||||||||
Granted, number outstanding | 0 | 0 | 0 | 0 | |||||||||||||
Exercised, number outstanding | (1,060,000) | (789,000) | (2,286,000) | ||||||||||||||
Exercised, weighted average exercise price per share | $ 63.03 | $ 57.56 | $ 52.25 | ||||||||||||||
Forfeited, number outstanding | (134,000) | (849,000) | [1] | (743,000) | [2] | ||||||||||||
Forfeited, weighted average exercise price per share | $ 106.01 | $ 91.98 | [1] | $ 93.84 | [2] | ||||||||||||
Balance, number outstanding | 3,117,000 | 3,482,000 | 4,729,000 | 3,117,000 | 3,482,000 | 4,729,000 | |||||||||||
Balance, weighted average exercise price per share | $ 100.71 | $ 79.67 | $ 75.95 | $ 100.71 | $ 79.67 | $ 75.95 | |||||||||||
Non-employee Director [Member] | |||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) - Summary of Stock Option Activity [Line Items] | |||||||||||||||||
Granted, number outstanding | 14,000 | 14,000 | 19,000 | ||||||||||||||
Granted, weighted average exercise price per share | $ 138.48 | $ 107.65 | $ 91.06 | ||||||||||||||
Non-performance Based [Member] | |||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) - Summary of Stock Option Activity [Line Items] | |||||||||||||||||
Granted, number outstanding | 128,090 | 61,210 | 25,075 | 462,913 | 138,902 | 35,508 | 9,367 | 635,308 | 677,000 | 174,000 | 645,000 | ||||||
Granted, weighted average exercise price per share | $ 165.02 | $ 159.14 | $ 131.31 | $ 92.55 | $ 140.49 | $ 103.36 | $ 92.22 | ||||||||||
Performance-based Options [Member] | |||||||||||||||||
Note 14 - Stock Option and Retirement Plans (Details) - Summary of Stock Option Activity [Line Items] | |||||||||||||||||
Granted, number outstanding | 138,000 | 203,000 | 1,011,000 | ||||||||||||||
Granted, weighted average exercise price per share | $ 148.52 | $ 109.56 | $ 92.22 | ||||||||||||||
[1] | In November 2012, FactSet granted 1,011,510 performance-based employee stock options. Based upon the actual growth in both organic ASV and diluted EPS during the two fiscal years ended August 31, 2014, 20% of the shares became eligible to vest on August 31, 2014 and the remaining were recorded asforfeitures in August 2014. | ||||||||||||||||
[2] | In November 2011, FactSet granted 665,551 performance-based employee stock options. None of these performance-based stock options granted vested because FactSet did not achieve certain performance levels during the two fiscal years ended August 31, 2013. As such, these stock options were recorded as forfeitures in August 2013. |
Note 14 - Stock Option and Re80
Note 14 - Stock Option and Retirement Plans (Details) - Exercise Price Ranges of Outstanding and Exercisable Options - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |||
Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2012 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Number Outstanding (in Shares) | 3,117 | 3,482 | 4,729 | 6,083 |
Weighted Average Remaining Years of Contractual Life | 6 years 109 days | |||
Weighted Average Exercise Price Per Share, Outstanding | $ 100.71 | $ 79.67 | $ 75.95 | $ 64.76 |
Aggregate Intrinsic Value, Outstanding (in Dollars) | $ 178,271 | |||
Number Exercisable (in Shares) | 1,352 | 1,899 | 1,925 | |
Weighted Average Exercise Price Per Share, Exercisable | $ 78.70 | $ 68.78 | $ 59.70 | |
Aggregate Intrinsic Value, Exercisable (in Dollars) | $ 107,116 | |||
Range 1 [Member] | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Range of Exercise Prices Per Share, Lower Limit | $ 35.80 | |||
Range of Exercise Prices Per Share, Upper Limit | $ 63.09 | |||
Number Outstanding (in Shares) | 255 | |||
Weighted Average Remaining Years of Contractual Life | 1 year | |||
Weighted Average Exercise Price Per Share, Outstanding | $ 54.62 | |||
Aggregate Intrinsic Value, Outstanding (in Dollars) | $ 26,340 | |||
Number Exercisable (in Shares) | 255 | |||
Weighted Average Exercise Price Per Share, Exercisable | $ 54.62 | |||
Aggregate Intrinsic Value, Exercisable (in Dollars) | $ 26,340 | |||
Range 2 [Member] | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Range of Exercise Prices Per Share, Lower Limit | $ 66.46 | |||
Range of Exercise Prices Per Share, Upper Limit | $ 66.81 | |||
Number Outstanding (in Shares) | 351 | |||
Weighted Average Remaining Years of Contractual Life | 1 year 73 days | |||
Weighted Average Exercise Price Per Share, Outstanding | $ 66.47 | |||
Aggregate Intrinsic Value, Outstanding (in Dollars) | $ 32,098 | |||
Number Exercisable (in Shares) | 351 | |||
Weighted Average Exercise Price Per Share, Exercisable | $ 66.47 | |||
Aggregate Intrinsic Value, Exercisable (in Dollars) | $ 32,098 | |||
Range 3 [Member] | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Range of Exercise Prices Per Share, Lower Limit | $ 87.26 | |||
Range of Exercise Prices Per Share, Upper Limit | $ 90.92 | |||
Number Outstanding (in Shares) | 372 | |||
Weighted Average Remaining Years of Contractual Life | 5 years 219 days | |||
Weighted Average Exercise Price Per Share, Outstanding | $ 90.14 | |||
Aggregate Intrinsic Value, Outstanding (in Dollars) | $ 25,213 | |||
Number Exercisable (in Shares) | 169 | |||
Weighted Average Exercise Price Per Share, Exercisable | $ 89.44 | |||
Aggregate Intrinsic Value, Exercisable (in Dollars) | $ 11,574 | |||
Range 4 [Member] | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Range of Exercise Prices Per Share, Lower Limit | $ 91.06 | |||
Range of Exercise Prices Per Share, Upper Limit | $ 92.22 | |||
Number Outstanding (in Shares) | 654 | |||
Weighted Average Remaining Years of Contractual Life | 7 years 36 days | |||
Weighted Average Exercise Price Per Share, Outstanding | $ 92.19 | |||
Aggregate Intrinsic Value, Outstanding (in Dollars) | $ 42,986 | |||
Number Exercisable (in Shares) | 336 | |||
Weighted Average Exercise Price Per Share, Exercisable | $ 92.20 | |||
Aggregate Intrinsic Value, Exercisable (in Dollars) | $ 22,083 | |||
Range 5 [Member] | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Range of Exercise Prices Per Share, Lower Limit | $ 94.84 | |||
Range of Exercise Prices Per Share, Upper Limit | $ 96.10 | |||
Number Outstanding (in Shares) | 326 | |||
Weighted Average Remaining Years of Contractual Life | 6 years | |||
Weighted Average Exercise Price Per Share, Outstanding | $ 94.88 | |||
Aggregate Intrinsic Value, Outstanding (in Dollars) | $ 20,550 | |||
Number Exercisable (in Shares) | 227 | |||
Weighted Average Exercise Price Per Share, Exercisable | $ 94.85 | |||
Aggregate Intrinsic Value, Exercisable (in Dollars) | $ 14,317 | |||
Range 6 [Member] | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Range of Exercise Prices Per Share, Lower Limit | $ 102.01 | |||
Range of Exercise Prices Per Share, Upper Limit | $ 110.31 | |||
Number Outstanding (in Shares) | 358 | |||
Weighted Average Remaining Years of Contractual Life | 8 years 73 days | |||
Weighted Average Exercise Price Per Share, Outstanding | $ 106.88 | |||
Aggregate Intrinsic Value, Outstanding (in Dollars) | $ 18,273 | |||
Number Exercisable (in Shares) | 14 | |||
Weighted Average Exercise Price Per Share, Exercisable | $ 107.64 | |||
Aggregate Intrinsic Value, Exercisable (in Dollars) | $ 704 | |||
Range 7 [Member] | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Range of Exercise Prices Per Share, Lower Limit | $ 131.31 | |||
Range of Exercise Prices Per Share, Upper Limit | $ 139.02 | |||
Number Outstanding (in Shares) | 484 | |||
Weighted Average Remaining Years of Contractual Life | 9 years 36 days | |||
Weighted Average Exercise Price Per Share, Outstanding | $ 131.91 | |||
Aggregate Intrinsic Value, Outstanding (in Dollars) | $ 12,586 | |||
Range 8 [Member] | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Range of Exercise Prices Per Share, Lower Limit | $ 148.52 | |||
Range of Exercise Prices Per Share, Upper Limit | $ 166.74 | |||
Number Outstanding (in Shares) | 317 | |||
Weighted Average Remaining Years of Contractual Life | 9 years 219 days | |||
Weighted Average Exercise Price Per Share, Outstanding | $ 157.21 | |||
Aggregate Intrinsic Value, Outstanding (in Dollars) | $ 225 |
Note 14 - Stock Option and Re81
Note 14 - Stock Option and Retirement Plans (Details) - Stock Options Outstanding and Exercisable - $ / shares shares in Thousands | Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2012 |
Stock Options Outstanding and Exercisable [Abstract] | ||||
Outstanding at fiscal year end | 3,117 | 3,482 | 4,729 | 6,083 |
Outstanding at fiscal year end | $ 100.71 | $ 79.67 | $ 75.95 | $ 64.76 |
Exercisable at fiscal year end | 1,352 | 1,899 | 1,925 | |
Exercisable at fiscal year end | $ 78.70 | $ 68.78 | $ 59.70 |
Note 14 - Stock Option and Re82
Note 14 - Stock Option and Retirement Plans (Details) - Changes to the Current Estimate of the Vesting Percentage and Related Expense - Performance Shares [Member] - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||
Aug. 31, 2015 | Aug. 31, 2014 | Jul. 31, 2012 | Aug. 31, 2013 | Aug. 31, 2015 | ||
Note 14 - Stock Option and Retirement Plans (Details) - Changes to the Current Estimate of the Vesting Percentage and Related Expense [Line Items] | ||||||
Vesting percentage | 20.00% | |||||
Share-based Compensation Award, Tranche Four [Member] | ||||||
Note 14 - Stock Option and Retirement Plans (Details) - Changes to the Current Estimate of the Vesting Percentage and Related Expense [Line Items] | ||||||
Cumulative Catch-up Adjustment | [1] | $ 0 | ||||
Remaining Expense to be Recognized | $ 619 | |||||
Vesting percentage | 20.00% | |||||
Share-based Compensation Award, Tranche Five [Member] | ||||||
Note 14 - Stock Option and Retirement Plans (Details) - Changes to the Current Estimate of the Vesting Percentage and Related Expense [Line Items] | ||||||
Cumulative Catch-up Adjustment | [1] | $ 1,216 | ||||
Remaining Expense to be Recognized | $ 1,003 | |||||
Vesting percentage | 20.00% | |||||
Share-based Compensation Award, Tranche One [Member] | ||||||
Note 14 - Stock Option and Retirement Plans (Details) - Changes to the Current Estimate of the Vesting Percentage and Related Expense [Line Items] | ||||||
Vesting percentage | 20.00% | |||||
Share-based Compensation Award, Tranche Two [Member] | ||||||
Note 14 - Stock Option and Retirement Plans (Details) - Changes to the Current Estimate of the Vesting Percentage and Related Expense [Line Items] | ||||||
Vesting percentage | 20.00% | |||||
Share-based Compensation Award, Tranche Three [Member] | ||||||
Note 14 - Stock Option and Retirement Plans (Details) - Changes to the Current Estimate of the Vesting Percentage and Related Expense [Line Items] | ||||||
Vesting percentage | 20.00% | |||||
Code Red, Inc. [Member] | ||||||
Note 14 - Stock Option and Retirement Plans (Details) - Changes to the Current Estimate of the Vesting Percentage and Related Expense [Line Items] | ||||||
Cumulative Catch-up Adjustment | $ (338) | |||||
Remaining Expense to be Recognized | $ 0 | |||||
Vesting percentage | 0.00% | |||||
Code Red, Inc. [Member] | Share-based Compensation Award, Tranche Four [Member] | ||||||
Note 14 - Stock Option and Retirement Plans (Details) - Changes to the Current Estimate of the Vesting Percentage and Related Expense [Line Items] | ||||||
Cumulative Catch-up Adjustment | [1] | $ 506 | ||||
Remaining Expense to be Recognized | $ 5,156 | |||||
Vesting percentage | 100.00% | |||||
Code Red, Inc. [Member] | Share-based Compensation Award, Tranche One [Member] | ||||||
Note 14 - Stock Option and Retirement Plans (Details) - Changes to the Current Estimate of the Vesting Percentage and Related Expense [Line Items] | ||||||
Cumulative Catch-up Adjustment | [1] | $ (253) | ||||
Remaining Expense to be Recognized | $ 516 | |||||
Vesting percentage | 10.00% | |||||
Code Red, Inc. [Member] | Share-based Compensation Award, Tranche Two [Member] | ||||||
Note 14 - Stock Option and Retirement Plans (Details) - Changes to the Current Estimate of the Vesting Percentage and Related Expense [Line Items] | ||||||
Cumulative Catch-up Adjustment | [1] | $ 0 | ||||
Remaining Expense to be Recognized | $ 2,063 | |||||
Vesting percentage | 40.00% | |||||
Code Red, Inc. [Member] | Share-based Compensation Award, Tranche Three [Member] | ||||||
Note 14 - Stock Option and Retirement Plans (Details) - Changes to the Current Estimate of the Vesting Percentage and Related Expense [Line Items] | ||||||
Cumulative Catch-up Adjustment | [1] | $ 253 | ||||
Remaining Expense to be Recognized | $ 3,609 | |||||
Vesting percentage | 70.00% | |||||
[1] | Amounts represent the cumulative catch-up adjustment to be recorded if there was a change in the vesting percentage as of August 31, 2015. |
Note 14 - Stock Option and Re83
Note 14 - Stock Option and Retirement Plans (Details) - Changes to the Current Estimate of the Vesting Percentage and Related Expense (Parentheticals) - Performance Shares [Member] | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||
Aug. 31, 2015 | Aug. 31, 2014 | Jul. 31, 2012 | Aug. 31, 2013 | Aug. 31, 2015 | |
Note 14 - Stock Option and Retirement Plans (Details) - Changes to the Current Estimate of the Vesting Percentage and Related Expense (Parentheticals) [Line Items] | |||||
Vesting percentage | 20.00% | ||||
Share-based Compensation Award, Tranche Four [Member] | |||||
Note 14 - Stock Option and Retirement Plans (Details) - Changes to the Current Estimate of the Vesting Percentage and Related Expense (Parentheticals) [Line Items] | |||||
Vesting percentage | 20.00% | ||||
Share-based Compensation Award, Tranche Five [Member] | |||||
Note 14 - Stock Option and Retirement Plans (Details) - Changes to the Current Estimate of the Vesting Percentage and Related Expense (Parentheticals) [Line Items] | |||||
Vesting percentage | 20.00% | ||||
Share-based Compensation Award, Tranche One [Member] | |||||
Note 14 - Stock Option and Retirement Plans (Details) - Changes to the Current Estimate of the Vesting Percentage and Related Expense (Parentheticals) [Line Items] | |||||
Vesting percentage | 20.00% | ||||
Share-based Compensation Award, Tranche Two [Member] | |||||
Note 14 - Stock Option and Retirement Plans (Details) - Changes to the Current Estimate of the Vesting Percentage and Related Expense (Parentheticals) [Line Items] | |||||
Vesting percentage | 20.00% | ||||
Share-based Compensation Award, Tranche Three [Member] | |||||
Note 14 - Stock Option and Retirement Plans (Details) - Changes to the Current Estimate of the Vesting Percentage and Related Expense (Parentheticals) [Line Items] | |||||
Vesting percentage | 20.00% | ||||
Code Red, Inc. [Member] | |||||
Note 14 - Stock Option and Retirement Plans (Details) - Changes to the Current Estimate of the Vesting Percentage and Related Expense (Parentheticals) [Line Items] | |||||
Vesting percentage | 0.00% | ||||
Code Red, Inc. [Member] | Share-based Compensation Award, Tranche Four [Member] | |||||
Note 14 - Stock Option and Retirement Plans (Details) - Changes to the Current Estimate of the Vesting Percentage and Related Expense (Parentheticals) [Line Items] | |||||
Vesting percentage | 100.00% | ||||
Code Red, Inc. [Member] | Share-based Compensation Award, Tranche One [Member] | |||||
Note 14 - Stock Option and Retirement Plans (Details) - Changes to the Current Estimate of the Vesting Percentage and Related Expense (Parentheticals) [Line Items] | |||||
Vesting percentage | 10.00% | ||||
Code Red, Inc. [Member] | Share-based Compensation Award, Tranche Two [Member] | |||||
Note 14 - Stock Option and Retirement Plans (Details) - Changes to the Current Estimate of the Vesting Percentage and Related Expense (Parentheticals) [Line Items] | |||||
Vesting percentage | 40.00% | ||||
Code Red, Inc. [Member] | Share-based Compensation Award, Tranche Three [Member] | |||||
Note 14 - Stock Option and Retirement Plans (Details) - Changes to the Current Estimate of the Vesting Percentage and Related Expense (Parentheticals) [Line Items] | |||||
Vesting percentage | 70.00% |
Note 14 - Stock Option and Re84
Note 14 - Stock Option and Retirement Plans (Details) - Summary of Restricted Stock Award - Restricted Stock [Member] - $ / shares | Jul. 31, 2015 | May. 01, 2015 | Feb. 09, 2015 | Dec. 17, 2014 | Nov. 03, 2014 | Feb. 03, 2014 | Dec. 23, 2013 | Nov. 01, 2013 | Sep. 17, 2013 | Apr. 08, 2013 | Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 | |||
Note 14 - Stock Option and Retirement Plans (Details) - Summary of Restricted Stock Award [Line Items] | ||||||||||||||||
Balance | 368,000 | 358,000 | 383,000 | |||||||||||||
Balance | $ 89.77 | $ 80.43 | $ 71.34 | |||||||||||||
Granted (restricted stock and stock units) | 5,704 | 448 | 21,294 | 15,070 | 841 | 12,264 | 30,144 | 153,972 | 7,744 | 14,683 | 55,000 | 204,000 | 132,000 | |||
Granted (restricted stock and stock units) | $ 157.84 | $ 153.89 | $ 140.88 | $ 132.71 | $ 124.18 | $ 95.45 | $ 102.84 | $ 102.22 | $ 103.30 | $ 85.80 | $ 138.23 | $ 101.95 | $ 85.80 | |||
Vested | (95,000) | [1] | (149,741) | [2] | (150,000) | [3] | ||||||||||
Vested | $ 70.94 | [1] | $ 84.48 | [2] | $ 62.34 | [3] | ||||||||||
Canceled/forfeited | (15,000) | (59,000) | (7,000) | |||||||||||||
Canceled/forfeited | $ 101.04 | $ 86.39 | $ 81.38 | |||||||||||||
Balance | 313,000 | 368,000 | 358,000 | |||||||||||||
Balance | $ 103.34 | $ 89.77 | $ 80.43 | |||||||||||||
[1] | The 94,870 restricted stock awards that vested during fiscal 2015 were comprised of: 53,495 of awards granted on October 23, 2014, which cliff vested 60% after three years (on October 23, 2012) and 40% after five years (on October 23, 2014); 14,683 restricted stock awards that were granted on April 8, 2013, which cliff vest 20% annually upon the anniversary date of the grant; 17,228 awards relating to restricted stock granted on February 9, 2010; and 9,464 restricted stock awards that were previously granted between November 2013 and November 2014. | |||||||||||||||
[2] | The 135,205 restricted stock awards that vested during fiscal 2014 were comprised of: 62,544 of awards granted on November 8, 2010, which cliff vested 60% after three years (on November 8, 2013) with the remaining 40% cliff vesting after five years (on November 8, 2015); 29,087 of awards granted on April 14, 2011, which vested 100% after three years on April 14, 2014; 26,344 restricted stock awards that were granted on April 8, 2013, which cliff vest 20% annually upon the anniversary date of the grant; and 17,230 awards relating torestricted stock granted on February 9, 2010 which cliff vested 50% after four years (on February 9, 2014). | |||||||||||||||
[3] | Of the total 149,741 restricted stock awards that vested during fiscal 2013, 87,758 related to awards granted on October 23, 2009. These restricted stock awards cliff vested 60% after three years (on October 23, 2012) and 40% after five years (on October 23, 2014). An additional 55,572 awards that vested in fiscal 2013 related to awards granted on February 9, 2010 which cliff vested 100% after three years (on February 9, 2013). The remaining 6,411 restricted stock awards that vested were previously granted between June 2010 and July 2011 and vesting occurred when certain ASV targets were met in fiscal 2013. |
Note 14 - Stock Option and Re85
Note 14 - Stock Option and Retirement Plans (Details) - Summary of Share-based Awards Available for Grant - shares | Jul. 31, 2015 | May. 01, 2015 | Feb. 09, 2015 | Dec. 17, 2014 | Nov. 03, 2014 | Feb. 03, 2014 | Dec. 23, 2013 | Nov. 01, 2013 | Sep. 17, 2013 | Apr. 08, 2013 | Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 | |
2004 Stock Option and Award Plan [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||
Balance | 3,222,000 | 3,116,000 | 4,340,000 | |||||||||||
Share-based awards canceled/forfeited | [1] | 171,000 | 993,000 | 761,000 | ||||||||||
Balance | 2,441,000 | 3,222,000 | 3,116,000 | |||||||||||
Non-Employee Directors' Stock Option Plan [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||
Balance | 102,000 | 107,000 | 126,000 | |||||||||||
Share-based awards canceled/forfeited | [1] | 9,000 | ||||||||||||
Balance | 88,000 | 102,000 | 107,000 | |||||||||||
Non-Employee Directors' Stock Option Plan [Member] | Non-employee Director [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||
Granted – options | (14,000) | (14,000) | (19,000) | |||||||||||
Non-performance Based [Member] | 2004 Stock Option and Award Plan [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||
Granted – options | (677,000) | (174,000) | (645,000) | |||||||||||
Performance-based Options [Member] | 2004 Stock Option and Award Plan [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||
Granted – options | (138,000) | (203,000) | (1,011,000) | |||||||||||
Restricted Stock [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||
Restricted stock awards granted | (5,704) | (448) | (21,294) | (15,070) | (841) | (12,264) | (30,144) | (153,972) | (7,744) | (14,683) | (55,000) | (204,000) | (132,000) | |
Restricted Stock [Member] | 2004 Stock Option and Award Plan [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||
Restricted stock awards granted | [2] | (137,000) | (510,000) | (329,000) | ||||||||||
Restricted Stock [Member] | Non-Employee Directors' Stock Option Plan [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||
Restricted stock awards granted | [2] | |||||||||||||
[1] | Under the Company's option plan, for each restricted stock award canceled/forfeited, an equivalent of 2.5 shares is added back to the available share-based awards balance. | |||||||||||||
[2] | Each restricted stock award granted is equivalent to 2.5 shares granted under the Company's option plan. |
Note 15 - Stock-based Compens86
Note 15 - Stock-based Compensation (Details) - USD ($) | Jul. 31, 2015 | May. 01, 2015 | Feb. 09, 2015 | Jan. 15, 2015 | Dec. 17, 2014 | Nov. 03, 2014 | Feb. 03, 2014 | Jan. 15, 2014 | Dec. 23, 2013 | Nov. 01, 2013 | Sep. 17, 2013 | Apr. 08, 2013 | Jan. 01, 2013 | Aug. 31, 2015 | May. 31, 2015 | Feb. 28, 2015 | Nov. 30, 2014 | Aug. 31, 2014 | May. 31, 2014 | Feb. 28, 2014 | Nov. 30, 2013 | Aug. 31, 2013 | May. 31, 2013 | Feb. 28, 2013 | Nov. 30, 2012 | Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2015 | Dec. 16, 2014 |
Note 15 - Stock-based Compensation (Details) [Line Items] | ||||||||||||||||||||||||||||||
Allocated Share-based Compensation Expense (in Dollars) | $ 26,371,000 | $ 22,891,000 | $ 39,951,000 | |||||||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized (in Dollars) | $ 60,500,000 | $ 60,500,000 | $ 60,500,000 | |||||||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 3 years 146 days | |||||||||||||||||||||||||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount (in Dollars) | $ 0 | 0 | ||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||
Common Stock, Capital Shares Reserved for Future Issuance (in Shares) | 500,000 | |||||||||||||||||||||||||||||
2008 Employee Stock Purchase Plan [Member] | ||||||||||||||||||||||||||||||
Note 15 - Stock-based Compensation (Details) [Line Items] | ||||||||||||||||||||||||||||||
Allocated Share-based Compensation Expense (in Dollars) | $ 22,900,000 | $ 40,000,000 | $ 26,400,000 | |||||||||||||||||||||||||||
Non-performance Based [Member] | ||||||||||||||||||||||||||||||
Note 15 - Stock-based Compensation (Details) [Line Items] | ||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | 128,090 | 61,210 | 25,075 | 462,913 | 138,902 | 35,508 | 9,367 | 635,308 | 677,000 | 174,000 | 645,000 | |||||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 165.02 | $ 159.14 | $ 131.31 | $ 92.55 | $ 140.49 | $ 103.36 | $ 92.22 | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 54.10 | $ 44.95 | $ 37.67 | $ 26.69 | ||||||||||||||||||||||||||
Performance Shares [Member] | ||||||||||||||||||||||||||||||
Note 15 - Stock-based Compensation (Details) [Line Items] | ||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | 137,522 | 165,949 | 36,695 | 1,011,510 | ||||||||||||||||||||||||||
Performance and Non-performance [Member] | ||||||||||||||||||||||||||||||
Note 15 - Stock-based Compensation (Details) [Line Items] | ||||||||||||||||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 147.05 | $ 106.03 | $ 109.49 | $ 92.22 | ||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 43.05 | $ 29.14 | $ 31.78 | $ 26.87 | ||||||||||||||||||||||||||
Non-Employee Directors' Stock Option Plan [Member] | ||||||||||||||||||||||||||||||
Note 15 - Stock-based Compensation (Details) [Line Items] | ||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | 13,842 | 14,424 | 18,781 | |||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 28.18 | $ 27.04 | $ 24.23 | |||||||||||||||||||||||||||
Common Stock, Capital Shares Reserved for Future Issuance (in Shares) | 250,000 | 250,000 | 250,000 | |||||||||||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | ||||||||||||||||||||||||||||||
Note 15 - Stock-based Compensation (Details) [Line Items] | ||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in Shares) | 397 | 1,724 | 9,384 | |||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 151.50 | $ 145.01 | $ 127.88 | |||||||||||||||||||||||||||
Restricted Stock [Member] | ||||||||||||||||||||||||||||||
Note 15 - Stock-based Compensation (Details) [Line Items] | ||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in Shares) | 5,704 | 448 | 21,294 | 15,070 | 841 | 12,264 | 30,144 | 153,972 | 7,744 | 14,683 | 55,000 | 204,000 | 132,000 | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 157.84 | $ 153.89 | $ 140.88 | $ 132.71 | $ 124.18 | $ 95.45 | $ 102.84 | $ 102.22 | $ 103.30 | $ 85.80 | $ 138.23 | $ 101.95 | $ 85.80 | |||||||||||||||||
2008 Employee Stock Purchase Plan [Member] | ||||||||||||||||||||||||||||||
Note 15 - Stock-based Compensation (Details) [Line Items] | ||||||||||||||||||||||||||||||
Allocated Share-based Compensation Expense (in Dollars) | $ 1,500,000 | $ 1,300,000 | $ 1,200,000 | |||||||||||||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 122.76 | $ 89.28 | $ 80.77 | |||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 24.05 | $ 17.76 | $ 15.79 | |||||||||||||||||||||||||||
Common Stock, Capital Shares Reserved for Future Issuance (in Shares) | 481,616 | 481,616 | 481,616 | |||||||||||||||||||||||||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans (in Shares) | 63,265 | 74,889 | 75,281 |
Note 15 - Stock-based Compens87
Note 15 - Stock-based Compensation (Details) - Summary of Stock Option Weighted Average Assumptions of Employee Stock Options - Employee Stock Option [Member] - $ / shares | 12 Months Ended | ||
Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 | |
Minimum [Member] | |||
Note 15 - Stock-based Compensation (Details) - Summary of Stock Option Weighted Average Assumptions of Employee Stock Options [Line Items] | |||
Term structure of risk-free interest rate | 0.01% | 0.01% | 0.16% |
Expected life (years) | 5 years 292 days | 7 years 219 days | 7 years 219 days |
Term structure of volatility | 20.00% | 23.00% | 24.00% |
Maximum [Member] | |||
Note 15 - Stock-based Compensation (Details) - Summary of Stock Option Weighted Average Assumptions of Employee Stock Options [Line Items] | |||
Term structure of risk-free interest rate | 2.30% | 2.60% | 1.91% |
Expected life (years) | 9 years 146 days | 7 years 292 days | 7 years 292 days |
Term structure of volatility | 31.00% | 33.00% | 33.00% |
Dividend yield | 1.32% | 1.35% | 1.30% |
Weighted average estimated fair value (in Dollars per share) | $ 41.87 | $ 29.64 | $ 26.87 |
Weighted average exercise price (in Dollars per share) | $ 141.84 | $ 106.69 | $ 92.22 |
Fair value as a percentage of exercise price | 29.50% | 27.80% | 29.10% |
Note 15 - Stock-based Compens88
Note 15 - Stock-based Compensation (Details) - Summary of Stock Option Weighted Average Assumptions of Employee Stock Options - Non-Employee Directors' Stock Option Plan [Member] | 12 Months Ended | ||
Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 | |
Note 15 - Stock-based Compensation (Details) - Summary of Stock Option Weighted Average Assumptions of Employee Stock Options [Line Items] | |||
Risk-free interest rate | 1.45% | 1.66% | 0.89% |
Expected life (years) | 5 years 146 days | 5 years 146 days | 5 years 146 days |
Expected volatility | 23.00% | 29.00% | 32.00% |
Dividend yield | 1.30% | 1.35% | 1.30% |
Note 15 - Stock-based Compens89
Note 15 - Stock-based Compensation (Details) - Summary of Stock Option Weighted Average Assumptions, Employee Stock Purchase Plan - 2008 Employee Stock Purchase Plan [Member] | 12 Months Ended | ||
Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 | |
Note 15 - Stock-based Compensation (Details) - Summary of Stock Option Weighted Average Assumptions, Employee Stock Purchase Plan [Line Items] | |||
Risk-free interest rate | 0.03% | 0.04% | 0.07% |
Expected life (months) | 3 years | 3 years | 3 years |
Expected volatility | 16.30% | 9.80% | 9.80% |
Dividend yield | 1.15% | 1.38% | 1.38% |
Note 16 - Income Taxes (Details
Note 16 - Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | |||||
Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2012 | |||
Income Tax Disclosure [Abstract] | ||||||
Effective Income Tax Rate Reconciliation, Percent | 27.80% | [1] | 30.30% | 26.70% | [2] | |
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Amount | $ 8,800 | $ 7,200 | ||||
Unrecognized Tax Benefits | 6,776 | $ 5,501 | 5,435 | $ 5,464 | ||
Unrecognized Tax Benefits, Interest on Income Taxes Accrued | 1,300 | 1,100 | ||||
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 1,000 | |||||
Unrecognized Tax Benefits, Interest on Income Taxes Expense | $ 200 | $ 100 | $ 100 | |||
[1] | The fiscal 2015 effective tax rate of 27.8% includes income tax benefits of $8.8 million primarily from the reenactment of the U.S. Federal R&D Tax Credit (the "U.S. Federal R&D tax credit") in December 2014, finalizing prior year tax returns and other discrete items. | |||||
[2] | The fiscal 2013 effective tax rate of 26.7% includes income tax benefits of $7.2 million primarily from the reenactment of the U.S. Federal R&D tax credit in January 2013 and finalizing prior year tax returns. |
Note 16 - Income Taxes (Detai91
Note 16 - Income Taxes (Details) - Provision for Income Taxes by Geographic Operations - USD ($) $ in Thousands | 12 Months Ended | ||||
Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 | |||
Provision for Income Taxes by Geographic Operations [Abstract] | |||||
U.S. operations | $ 263,411 | $ 242,839 | $ 220,778 | ||
Non-U.S. operations | 70,343 | 60,625 | 50,132 | ||
Income before income taxes | 333,754 | 303,464 | 270,910 | ||
U.S. operations | 88,147 | 81,998 | 61,328 | ||
Non-U.S. operations | 4,556 | 9,923 | 10,945 | ||
Total provision for income taxes | $ 92,703 | $ 91,921 | $ 72,273 | ||
Effective tax rate | 27.80% | [1] | 30.30% | 26.70% | [2] |
[1] | The fiscal 2015 effective tax rate of 27.8% includes income tax benefits of $8.8 million primarily from the reenactment of the U.S. Federal R&D Tax Credit (the "U.S. Federal R&D tax credit") in December 2014, finalizing prior year tax returns and other discrete items. | ||||
[2] | The fiscal 2013 effective tax rate of 26.7% includes income tax benefits of $7.2 million primarily from the reenactment of the U.S. Federal R&D tax credit in January 2013 and finalizing prior year tax returns. |
Note 16 - Income Taxes (Detai92
Note 16 - Income Taxes (Details) - Components of the Provision for Income Taxes - USD ($) $ in Thousands | 12 Months Ended | ||
Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 | |
Current | |||
U.S. federal | $ 82,885 | $ 77,368 | $ 52,625 |
U.S. state and local | 4,419 | 3,972 | 3,309 |
Non-U.S. | 6,368 | 10,350 | 11,188 |
Total current taxes | 93,672 | 91,690 | 67,122 |
Deferred | |||
U.S. federal | 720 | 547 | 5,036 |
U.S. state and local | 123 | 111 | 358 |
Non-U.S. | (1,812) | (427) | (243) |
Total deferred taxes | (969) | 231 | 5,151 |
Total provision for income taxes | $ 92,703 | $ 91,921 | $ 72,273 |
Note 16 - Income Taxes (Detai93
Note 16 - Income Taxes (Details) - Percentage of Income Before Income Taxes | 12 Months Ended | ||||
Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 | |||
Percentage of Income Before Income Taxes [Abstract] | |||||
Tax at U.S. Federal statutory tax rate | 35.00% | 35.00% | 35.00% | ||
Increase (decrease) in taxes resulting from: | |||||
State and local taxes, net of U.S. federal income tax benefit | 1.60% | 1.80% | 2.00% | ||
Foreign income at other than U.S. rates | (3.00%) | (2.90%) | (2.50%) | ||
Domestic production activities deduction | (2.20%) | (2.10%) | (2.60%) | ||
Income tax benefits from R&D tax credits | (2.70%) | (1.10%) | (4.10%) | ||
Income tax benefits from foreign tax credits | (0.30%) | (0.40%) | (1.20%) | ||
Other, net | (0.60%) | 0.00% | 0.10% | ||
Effective tax rate | 27.80% | [1] | 30.30% | 26.70% | [2] |
[1] | The fiscal 2015 effective tax rate of 27.8% includes income tax benefits of $8.8 million primarily from the reenactment of the U.S. Federal R&D Tax Credit (the "U.S. Federal R&D tax credit") in December 2014, finalizing prior year tax returns and other discrete items. | ||||
[2] | The fiscal 2013 effective tax rate of 26.7% includes income tax benefits of $7.2 million primarily from the reenactment of the U.S. Federal R&D tax credit in January 2013 and finalizing prior year tax returns. |
Note 16 - Income Taxes (Detai94
Note 16 - Income Taxes (Details) - Significant Components of Deferred Tax Assets - USD ($) $ in Thousands | Aug. 31, 2015 | Aug. 31, 2014 |
Current | ||
Receivable reserve | $ 541 | $ 597 |
Deferred rent | 794 | 1,067 |
Other | 770 | 177 |
Net current deferred tax assets | 2,105 | 1,841 |
Non-current | ||
Depreciation on property, equipment and leasehold improvements | 10,880 | 9,831 |
Deferred rent | 5,108 | 3,572 |
Stock-based compensation | 17,562 | 18,160 |
Purchased intangible assets, including acquired technology | (17,533) | (10,750) |
Other | 4,582 | 1,564 |
Net non-current deferred tax assets | 20,599 | 22,377 |
Total deferred tax assets | 22,704 | 24,218 |
Current | ||
Other | 562 | |
Net current deferred tax liabilities | 562 | |
Non-current | ||
Purchased intangible assets, including acquired technology | 1,886 | 3,478 |
Stock-based compensation | (860) | |
Other | (189) | 303 |
Net non-current deferred tax liabilities | 1,697 | 2,921 |
Total deferred tax liabilities | $ 2,259 | $ 2,921 |
Note 16 - Income Taxes (Detai95
Note 16 - Income Taxes (Details) - Reconciliation of Unrecognized Tax Benefits - USD ($) $ in Thousands | 12 Months Ended | ||
Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 | |
Reconciliation of Unrecognized Tax Benefits [Abstract] | |||
Unrecognized income tax benefits | $ 5,501 | $ 5,435 | $ 5,464 |
Additions based on tax positions related to the current year | 962 | 921 | 1,372 |
Additions for tax positions of prior years | 1,122 | 628 | 986 |
Statute of limitations lapse | (809) | (717) | (1,103) |
Reductions from settlements with taxing authorities | (766) | (1,284) | |
Unrecognized income tax benefits | $ 6,776 | $ 5,501 | $ 5,435 |
Note 16 - Income Taxes (Detai96
Note 16 - Income Taxes (Details) - Major Tax Jurisdictions in Which the Company and Affiliates Operate and the Earliest Tax Year Subject to Examination | 12 Months Ended |
Aug. 31, 2015 | |
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Earliest Tax Year [Member] | |
U.S. | |
Open Tax Years | 2,013 |
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Latest Tax Year [Member] | |
U.S. | |
Open Tax Years | 2,015 |
State and Local Jurisdiction [Member] | State (Various) [Member] | Earliest Tax Year [Member] | |
U.S. | |
Open Tax Years | 2,010 |
State and Local Jurisdiction [Member] | State (Various) [Member] | Latest Tax Year [Member] | |
U.S. | |
Open Tax Years | 2,015 |
Foreign Tax Authority [Member] | Her Majesty's Revenue and Customs (HMRC) [Member] | Earliest Tax Year [Member] | |
U.S. | |
Open Tax Years | 2,013 |
Foreign Tax Authority [Member] | Her Majesty's Revenue and Customs (HMRC) [Member] | Latest Tax Year [Member] | |
U.S. | |
Open Tax Years | 2,015 |
Foreign Tax Authority [Member] | Ministry of the Economy, Finance and Industry, France [Member] | Earliest Tax Year [Member] | |
U.S. | |
Open Tax Years | 2,012 |
Foreign Tax Authority [Member] | Ministry of the Economy, Finance and Industry, France [Member] | Latest Tax Year [Member] | |
U.S. | |
Open Tax Years | 2,015 |
Note 17 - Debt (Details)
Note 17 - Debt (Details) - USD ($) | Feb. 06, 2015 | Aug. 31, 2015 | Oct. 30, 2015 | Oct. 16, 2015 | Sep. 21, 2015 |
Eurodollar [Member] | |||||
Note 17 - Debt (Details) [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | 0.50% | ||||
Revolving Credit Facility [Member] | |||||
Note 17 - Debt (Details) [Line Items] | |||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 35,000,000 | ||||
Line of Credit Facility, Maximum Amount of Additional Borrowings | 265,000,000 | ||||
Line of Credit Facility, Minimum Borrowing Amount Required for Additional Borrowings | 25,000,000 | ||||
Revolving Credit Facility [Member] | Subsequent Event [Member] | |||||
Note 17 - Debt (Details) [Line Items] | |||||
Long-term Line of Credit | $ 300,000,000 | ||||
The Loan [Member] | Revolving Credit Facility [Member] | |||||
Note 17 - Debt (Details) [Line Items] | |||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 35,000,000 | ||||
Long-term Line of Credit | $ 35,000,000 | 35,000,000 | |||
Line of Credit Facility, Commitment Fee Amount | $ 0 | ||||
Debt Instrument, Term | 3 years | ||||
The Loan [Member] | Revolving Credit Facility [Member] | Eurodollar [Member] | |||||
Note 17 - Debt (Details) [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | 0.50% | ||||
The Loan [Member] | Revolving Credit Facility [Member] | Subsequent Event [Member] | |||||
Note 17 - Debt (Details) [Line Items] | |||||
Line of Credit Facility, Maximum Amount of Additional Borrowings | $ 400,000,000 | ||||
Line of Credit Facility, Minimum Borrowing Amount Required for Additional Borrowings | $ 25,000,000 | ||||
Additional Long Term Line Of Credit | $ 265,000,000 | ||||
Maximum [Member] | The Loan [Member] | Revolving Credit Facility [Member] | |||||
Note 17 - Debt (Details) [Line Items] | |||||
Interest Paid | $ 100,000 | ||||
Debt Issuance Cost | 100,000 | ||||
Amortization of Financing Costs | $ 100,000 |
Note 17 - Debt (Details) - Debt
Note 17 - Debt (Details) - Debt Obligations - Revolving Credit Facility [Member] - USD ($) $ in Thousands | Aug. 31, 2015 | Feb. 06, 2015 |
Note 17 - Debt (Details) - Debt Obligations [Line Items] | ||
2015 Revolving Credit Facility (maturity date of September 21, 2018) | $ 35,000 | |
The Loan [Member] | ||
Note 17 - Debt (Details) - Debt Obligations [Line Items] | ||
2015 Revolving Credit Facility (maturity date of September 21, 2018) | $ 35,000 | |
Total Outstanding Debt at fiscal year-end | $ 35,000 | $ 35,000 |
Note 18 - Commitments and Con99
Note 18 - Commitments and Contingencies (Details) $ in Thousands | 12 Months Ended | ||
Aug. 31, 2015USD ($)ft² | Aug. 31, 2014USD ($) | Aug. 31, 2013USD ($) | |
Note 18 - Commitments and Contingencies (Details) [Line Items] | |||
Operating Leases, Rent Expense | $ 38,600 | $ 37,700 | $ 36,200 |
Other Liabilities, Noncurrent | 21,834 | 16,417 | |
Operating Leases, Future Minimum Payments Due | 270,102 | ||
Purchase Commitment, Remaining Minimum Amount Committed | $ 65,200 | 53,300 | |
Boston, Massachusetts [Member] | |||
Note 18 - Commitments and Contingencies (Details) [Line Items] | |||
Area of Real Estate Property (in Square Feet) | ft² | 4,809 | ||
Operating Leases, Future Minimum Payments Due | $ 6,600 | ||
Existing Office [Member] | Hyderabad, India [Member] | |||
Note 18 - Commitments and Contingencies (Details) [Line Items] | |||
Operating Leases, Future Minimum Payments Due | $ 2,200 | ||
New Office [Member] | Hyderabad, India [Member] | |||
Note 18 - Commitments and Contingencies (Details) [Line Items] | |||
Area of Real Estate Property (in Square Feet) | ft² | 43,830 | ||
Operating Leases, Future Minimum Payments Due | $ 1,800 | ||
New Office [Member] | Manila, Philippines [Member] | |||
Note 18 - Commitments and Contingencies (Details) [Line Items] | |||
Area of Real Estate Property (in Square Feet) | ft² | 13,043 | ||
Operating Leases, Future Minimum Payments Due | $ 1,500 | ||
New Office [Member] | New York [Member] | |||
Note 18 - Commitments and Contingencies (Details) [Line Items] | |||
Area of Real Estate Property (in Square Feet) | ft² | 19,979 | ||
Operating Leases, Future Minimum Payments Due | $ 21,200 | ||
Tenant Allowances | $ 1,900 | ||
New Office [Member] | Norwalk, Connecticut [Member] | |||
Note 18 - Commitments and Contingencies (Details) [Line Items] | |||
Area of Real Estate Property (in Square Feet) | ft² | 9,587 | ||
Operating Leases, Future Minimum Payments Due | $ 900 | ||
New Office [Member] | London, England [Member] | |||
Note 18 - Commitments and Contingencies (Details) [Line Items] | |||
Area of Real Estate Property (in Square Feet) | ft² | 15,051 | ||
Operating Leases, Future Minimum Payments Due | $ 21,100 | ||
Deferred Rent [Member] | |||
Note 18 - Commitments and Contingencies (Details) [Line Items] | |||
Other Liabilities | 20,900 | 18,300 | |
Other Liabilities, Noncurrent | 18,400 | $ 14,900 | |
Standby Letters of Credit [Member] | |||
Note 18 - Commitments and Contingencies (Details) [Line Items] | |||
Long-term Line of Credit | $ 1,000 | ||
Norwalk, Connecticut [Member] | |||
Note 18 - Commitments and Contingencies (Details) [Line Items] | |||
Area of Real Estate Property (in Square Feet) | ft² | 202,000 |
Note 18 - Commitments and Co100
Note 18 - Commitments and Contingencies (Details) - Future Minimum Lease Commitments $ in Thousands | Aug. 31, 2015USD ($) |
Future Minimum Lease Commitments [Abstract] | |
2,016 | $ 22,695 |
2,017 | 28,002 |
2,018 | 27,373 |
2,019 | 25,974 |
2,020 | 20,129 |
Thereafter | 145,929 |
Total | $ 270,102 |
Note 19 - Risks and Concentr101
Note 19 - Risks and Concentrations of Credit Risk (Details) - USD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2015 | Aug. 31, 2014 | |
Note 19 - Risks and Concentrations of Credit Risk (Details) [Line Items] | ||
Investments and Cash | $ 182.4 | |
Long-term Debt, Fair Value | 35 | |
Allowance for Doubtful Accounts Receivable | $ 1.6 | $ 1.7 |
Eurodollar [Member] | ||
Note 19 - Risks and Concentrations of Credit Risk (Details) [Line Items] | ||
Debt Instrument, Basis Spread on Variable Rate | 0.50% | |
Subscription Revenue [Member] | Customer Concentration Risk [Member] | ||
Note 19 - Risks and Concentrations of Credit Risk (Details) [Line Items] | ||
Concentration Risk, Percentage | 2.00% |
Note 20 - Unaudited Quarterl102
Note 20 - Unaudited Quarterly Financial Data (Details) - Unaudited Quarterly Results - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||
Aug. 31, 2015 | May. 31, 2015 | Feb. 28, 2015 | Nov. 30, 2014 | Aug. 31, 2014 | May. 31, 2014 | Feb. 28, 2014 | Nov. 30, 2013 | Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 | ||||||||||||
Unaudited Quarterly Results [Abstract] | ||||||||||||||||||||||
Revenues | $ 261,779 | $ 254,522 | $ 247,792 | $ 242,676 | $ 238,664 | $ 231,761 | $ 226,934 | $ 222,975 | $ 1,006,768 | [1] | $ 920,335 | [1] | $ 858,112 | [1] | ||||||||
Cost of services | 107,595 | 100,686 | 99,516 | 97,543 | 92,521 | 90,661 | 87,254 | 83,250 | 405,339 | 353,686 | 306,379 | |||||||||||
Selling, general and administrative | 68,531 | 68,480 | 67,628 | 64,873 | 66,757 | 68,063 | 64,626 | 64,985 | 269,511 | 264,430 | 282,314 | |||||||||||
Operating income | 85,653 | 85,356 | 80,648 | 80,260 | 79,386 | 73,037 | 75,054 | 74,740 | 331,918 | 302,219 | 269,419 | |||||||||||
Net income | $ 62,184 | $ 61,409 | $ 61,598 | $ 55,860 | $ 55,407 | $ 51,532 | $ 52,426 | $ 52,178 | $ 241,051 | $ 211,543 | $ 198,637 | |||||||||||
Diluted earnings per common share(1) (in Dollars per share) | $ 1.48 | [2] | $ 1.45 | [2] | $ 1.46 | [2] | $ 1.32 | [2] | $ 1.31 | [2] | $ 1.21 | [2] | $ 1.22 | [2] | $ 1.19 | [2] | $ 5.71 | $ 4.92 | $ 4.45 | |||
Weighted average common shares (diluted) (in Shares) | 41,995 | 42,297 | 42,306 | 42,340 | 42,386 | 42,615 | 43,107 | 43,773 | 42,235 | 42,970 | 44,624 | |||||||||||
[1] | Revenues are attributed to countries based on the location of the client. | |||||||||||||||||||||
[2] | Diluted earnings per common share is calculated independently for each of the periods presented. Accordingly, the sum of the quarterly earnings per share amounts may not equal the total for the fiscal year. |
Note 21 - Subsequent Events (De
Note 21 - Subsequent Events (Details) - Subsequent Event [Member] $ in Millions | Oct. 16, 2015USD ($) |
Note 21 - Subsequent Events (Details) [Line Items] | |
Payments to Acquire Businesses, Gross | $ 265 |
The Loan [Member] | Revolving Credit Facility [Member] | |
Note 21 - Subsequent Events (Details) [Line Items] | |
Additional Long Term Line Of Credit | $ 265 |
Schedule II - Valuation and 104
Schedule II - Valuation and Qualifying Accounts (Details) - Valuation and Qualifying Accounts - Allowance for Trade Receivables [Member] - USD ($) | 12 Months Ended | |||
Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 | ||
Schedule II - Valuation and Qualifying Accounts (Details) - Valuation and Qualifying Accounts [Line Items] | ||||
Balance at Beginning of Year | [1] | $ 1,662,000 | $ 1,644,000 | $ 1,830,000 |
Charged to Expense/Against Revenue | [1] | 2,268 | 2,135,000 | 1,580,000 |
Write-offs, Net of Recoveries | [1] | 2,350,000 | 2,117,000 | 1,766,000 |
Balance at End of Year | [1] | $ 1,580,000 | $ 1,662,000 | $ 1,644,000 |
[1] | Additions to the receivable reserve for doubtful accounts are charged to bad debt expense. Additions to the receivable reserve for billing adjustments are charged against revenues. |