LEASES (Tables)

9 Months Ended

May 31, 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	May 31, 2022		August 31, 2021
Assets:
Operating assets	Other noncurrent assets	$	134,321	$	112,202
Finance assets	Property, plant and equipment, net	59,791		55,308
Total leased assets		$	194,112	$	167,510
Liabilities:
Operating lease liabilities:
Current	Accrued expenses and other payables	$	31,185	$	26,433
Long-term	Other noncurrent liabilities	105,971		93,409
Total operating lease liabilities		137,156		119,842
Finance lease liabilities:
Current	Current maturities of long-term debt and short-term borrowings	18,060		16,040
Long-term	Long-term debt	36,905		36,104
Total finance lease liabilities		54,965		52,144
Total lease liabilities		$	192,121	$	171,986

Lease Cost

The components of lease expense were as follows:

	Three Months Ended May 31,				Nine Months Ended May 31,
(in thousands)	2022		2021		2022		2021
Operating lease expense	$	8,659	$	8,377	$	25,991	$	25,750
Finance lease expense:
Amortization of assets	3,268		3,270		9,722		9,729
Interest on lease liabilities	508		555		1,520		1,673
Total finance lease expense	3,776		3,825		11,242		11,402
Variable and short-term lease expense	6,046		4,584		16,197		13,871
Total lease expense	$	18,481	$	16,786	$	53,430	$	51,023

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

	May 31, 2022		August 31, 2021
Weighted average remaining lease term (years):
Operating leases	5.4		6.2
Finance leases	3.4		3.6
Weighted average discount rate:
Operating leases	4.033	%	4.451	%
Finance leases	4.057	%	4.079	%

Cash Flow and Other Information Related to Leases

	Nine Months Ended May 31,
(in thousands)	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	26,481	$	25,862
Operating cash outflows from finance leases	1,521		1,665
Financing cash outflows from finance leases	12,847		11,706
Right of use assets obtained in exchange for lease obligations:
Operating leases	$	45,949	$	23,019
Finance leases	15,670		14,002

Maturity of Operating Lease Liabilities

Future maturities of lease liabilities at May 31, 2022 are presented in the following table:

(in thousands)	Operating Leases		Finance Leases
Year 1	$	36,496	$	19,890
Year 2	30,653		17,390
Year 3	24,942		12,538
Year 4	19,898		5,730
Year 5	13,750		2,467
Thereafter	28,500		331
Total lease payments	154,239		58,346
Less imputed interest	(17,083)		(3,381)
Present value of lease liabilities	$	137,156	$	54,965

Maturity of Finance Lease Liabilities

Future maturities of lease liabilities at May 31, 2022 are presented in the following table:

(in thousands)	Operating Leases		Finance Leases
Year 1	$	36,496	$	19,890
Year 2	30,653		17,390
Year 3	24,942		12,538
Year 4	19,898		5,730
Year 5	13,750		2,467
Thereafter	28,500		331
Total lease payments	154,239		58,346
Less imputed interest	(17,083)		(3,381)
Present value of lease liabilities	$	137,156	$	54,965