LEASES (Tables)

6 Months Ended

Feb. 28, 2022

Leases [Abstract]

Schedule of Balance Sheet Components of Leases

The following table presents the components of the total leased assets and lease liabilities and their classification in the Company's condensed consolidated balance sheets:

(in thousands)	Classification in Condensed Consolidated Balance Sheets	February 28, 2022		August 31, 2021
Assets:
Operating assets	Other noncurrent assets	$	113,446	$	112,202
Finance assets	Property, plant and equipment, net	54,793		55,308
Total leased assets		$	168,239	$	167,510
Liabilities:
Operating lease liabilities:
Current	Accrued expenses and other payables	$	28,229	$	26,433
Long-term	Other noncurrent liabilities	93,272		93,409
Total operating lease liabilities		121,501		119,842
Finance lease liabilities:
Current	Current maturities of long-term debt and short-term borrowings	16,639		16,040
Long-term	Long-term debt	33,762		36,104
Total finance lease liabilities		50,401		52,144
Total lease liabilities		$	171,902	$	171,986

Lease Cost

The components of lease expense were as follows:

	Three Months Ended February 28,				Six Months Ended February 28,
(in thousands)	2022		2021		2022		2021
Operating lease expense	$	8,748	$	8,651	$	17,332	$	17,373
Finance lease expense:
Amortization of assets	3,219		3,219		6,454		6,458
Interest on lease liabilities	498		563		1,012		1,118
Total finance lease expense	3,717		3,782		7,466		7,576
Variable and short-term lease expense	4,989		4,324		10,151		9,286
Total lease expense	$	17,454	$	16,757	$	34,949	$	34,235

The weighted average remaining lease term and discount rate for operating and finance leases are presented in the following table:

	February 28, 2022		August 31, 2021
Weighted average remaining lease term (years)
Operating leases	5.8		6.2
Finance leases	3.3		3.6
Weighted average discount rate
Operating leases	4.262	%	4.451	%
Finance leases	3.903	%	4.079	%

Cash Flow and Other Information Related to Leases

	Six Months Ended February 28,
(in thousands)	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	17,720	$	17,812
Operating cash outflows from finance leases	1,019		1,125
Financing cash outflows from finance leases	8,445		7,761
Right of use assets obtained in exchange for lease obligations:
Operating leases	$	19,009	$	20,249
Finance leases	6,716		8,784

Maturity of Operating Lease Liabilities

Future maturities of lease liabilities at February 28, 2022 are presented in the following table:

(in thousands)	Operating Leases		Finance Leases
Year 1	$	32,908	$	18,354
Year 2	27,741		15,949
Year 3	22,178		12,047
Year 4	17,363		5,232
Year 5	11,850		1,719
Thereafter	26,761		410
Total lease payments	138,801		53,711
Less imputed interest	(17,300)		(3,310)
Present value of lease liabilities	$	121,501	$	50,401

Maturity of Finance Lease Liabilities

Future maturities of lease liabilities at February 28, 2022 are presented in the following table:

(in thousands)	Operating Leases		Finance Leases
Year 1	$	32,908	$	18,354
Year 2	27,741		15,949
Year 3	22,178		12,047
Year 4	17,363		5,232
Year 5	11,850		1,719
Thereafter	26,761		410
Total lease payments	138,801		53,711
Less imputed interest	(17,300)		(3,310)
Present value of lease liabilities	$	121,501	$	50,401