Leases, Codification Topic 842 (Tables)

12 Months Ended

Aug. 31, 2020

Aug. 31, 2019

Leases [Abstract]

lease liability maturity

Maturities of lease liabilities as of August 31, 2020, were as follows:

	August 31, 2020
	Finance Leases		Operating Leases
	(Dollars in thousands)
Fiscal 2021	$	8,845	$	64,379
Fiscal 2022	7,017		50,398
Fiscal 2023	6,053		40,269
Fiscal 2024	3,443		32,195
Fiscal 2025	2,046		23,034
Thereafter	7,933		95,553
Total maturities of lease liabilities	35,337		305,828
Less amounts representing interest	3,877		44,937
Present value of future minimum lease payments	31,460		260,891
Less current obligations	7,993		57,200
Long-term obligations	$	23,467	$	203,691

Lease, Cost

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:

	Year Ended August 31, 2020
	(Dollars in thousands)
Operating lease expense	$	71,541
Finance lease expense:
Amortization of assets	8,205
Interest on lease liabilities	1,060
Short-term lease expense	15,991
Variable lease expense	3,674
Total net lease expense*	$	100,471

Lease Balance Sheet Disclosure

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

	Balance Sheet Location	August 31, 2020
		(Dollars in thousands)
Operating leases
Assets
Operating lease right of use assets	Other assets	$	257,834
Liabilities
Current operating lease liabilities	Accrued expenses	57,200
Long-term operating lease liabilities	Other liabilities	203,691
Total operating lease liabilities		$	260,891
Finance leases
Assets
Finance lease assets	Property, plant and equipment	$	44,860
Liabilities
Current finance lease liabilities	Current portion of long-term debt	7,993
Long-term finance lease liabilities	Long-term debt	23,467
Total finance lease liabilities		$	31,460
Weighted average remaining lease term (in years)
Operating leases		8.3
Finance leases		6.0
Weighted average discount rate
Operating leases		3.11		%
Finance leases		3.33		%

Lease Cash Inflow and Other Information Disclosure

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

	Year Ended August 31, 2020
	(Dollars in thousands)
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows from operating leases	$	71,003
Operating cash flows from finance leases	1,060
Financing cash flows from finance leases	7,949
Supplemental noncash information:
Right of use assets obtained in exchange for lease liabilities	56,461
Right of use asset modifications	7,333

Schedule of Future Minimum Payments for Capital and Operating Leases

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

	August 31, 2019
	Finance 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