Leases (Tables)

3 Months Ended

Nov. 30, 2019

Lease expense is recognized on a straight-line basis over the lease term. The components of lease expense recognized in our Condensed Consolidated Statements of Operations are as follows:



	Three Months Ended November 30, 2019
	(Dollars in thousands)
Operating lease expense	$	16,480
Finance lease expense:
Amortization of assets	2,189
Interest on lease liabilities	224
Short-term lease expense	3,343
Variable lease expense	116
Total net lease expense*	$	22,352

*Income related to sub-lease activity is not material and has been excluded from the table above.

Lease Balance Sheet disclosure [Table Text Block]

Supplemental balance sheet information related to operating and finance leases is as follows:



	Balance Sheet Location	November 30, 2019
		(Dollars in thousands)
Operating leases
Assets
Operating lease right of use assets	Other assets	$	259,028
Liabilities
Current operating lease liabilities	Accrued expenses	53,868
Long-term operating lease liabilities	Other liabilities	204,305
Total operating lease liabilities		$	258,173

Finance leases
Assets
Finance lease assets	Property, plant and equipment	$	40,536
Liabilities
Current finance lease liabilities	Current portion of long-term debt	6,049
Long-term finance lease liabilities	Long-term debt	21,092
Total finance lease liabilities		$	27,141

Weighted average remaining lease term (in years)
Operating leases		8.4
Finance leases		6.3

Weighted average discount rate
Operating leases		3.13		%
Finance leases		3.34		%

Lease Cash flow and other information disclosure [Table Text Block]

Supplemental cash flow and other information related to operating and finance leases is as follows:



	Three Months Ended November 30, 2019
	(Dollars in thousands)
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows from operating leases	$	15,722
Operating cash flows from finance leases	224
Financing cash flows from finance leases	1,673

Supplemental noncash information:
Right of use assets obtained in exchange for lease liabilities	4,724

Lease liability maturity [Table Text Block]

Maturities of lease liabilities as of November 30, 2019, were as follows:



	November 30, 2019
	Finance Leases		Operating Leases
	(Dollars in thousands)
Remainder of fiscal 2020	$	4,790	$	45,821
Fiscal 2021	6,190		53,054
Fiscal 2022	5,045		40,159
Fiscal 2023	4,452		31,851
Fiscal 2024	2,685		24,958
After fiscal 2024	7,228		105,730
Total maturities of lease liabilities	30,390		301,573
Less amounts representing interest	3,249		43,400
Present value of future minimum lease payments	27,141		258,173
Less current obligations	6,049		53,868
Long-term obligations	$	21,092	$	204,305

Schedule of future minimum payments for capital and operating leases [Table Text Block]

Minimum future lease payments required under noncancelable capital and operating leases as of August 31, 2019, were as follows:



	August 31, 2019
	Capital Leases		Operating Leases
	(Dollars in thousands)
Fiscal 2020	$	6,761	$	87,168
Fiscal 2021	6,199		57,381
Fiscal 2022	5,021		43,665
Fiscal 2023	4,548		34,328
Fiscal 2024	2,638		26,793
Thereafter	6,517		92,653
Total minimum future lease payments	31,684		$	341,988
Less amount representing interest	3,445
Present value of net minimum lease payments	$	28,239