Leases (Tables)

6 Months Ended

Feb. 29, 2024

Leases [Abstract]

Schedule of future minimum commitments

The following table presents our future minimum lease payments and a reconciliation to the combined Current lease liabilities and Long-term lease liabilities in the Consolidated Balance Sheets as of February 29, 2024:

(in thousands)	Minimum Lease Payments
Years Ended August 31,
2024 (remaining six months)	$	19,037
2025	38,022
2026	37,658
2027	36,339
2028	31,771
Thereafter	88,843
Total minimum lease payments	$	251,670
Less: Imputed interest	36,946
Total lease liabilities	$	214,724

Schedule of lease cost and other information related to leases

The following table includes components of our occupancy costs:

	Three Months Ended				Six Months Ended
	February 29,		February 28,		February 29,		February 28,
(in thousands)	2024		2023		2024		2023
Operating lease costs(1)	$	7,645	$	8,156	$	15,263	$	16,233
Variable lease costs(2)	$	4,817	$	3,834	$	9,306	$	8,054

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

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

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

	As of February 29, 2024		As of August 31, 2023
Weighted average remaining lease term (in years)	7.4		7.8
Weighted average discount rate (IBR)	4.6	%	4.5	%

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

	Six Months Ended
	February 29,		February 28,
(in thousands)	2024		2023
Cash paid for amounts included in the measurement of lease liabilities	$	19,811	$	19,596
Lease ROU assets obtained in exchange for lease liabilities(1)	$	2,313	$	1,379
Reductions to ROU assets resulting from reductions to lease liabilities(2)	$	(23)	$	—

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

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