Leases (Tables)

3 Months Ended

Nov. 21, 2020

Leases.

Balance Sheet Information Related to Leases

		November 21,		August 29,
(in thousands)	Classification	2020		2020
Assets:
Operating	Operating lease right-of-use assets	$	2,607,019	$	2,581,677
Finance	Property and equipment		328,153		327,006
Total lease assets		$	2,935,172	$	2,908,683
Liabilities:
Current:
Operating	Current portion of operating lease liabilities	$	246,332	$	223,846
Finance	Accrued expenses and other		63,408		67,498
Noncurrent:
Operating	Operating lease liabilities, less current portion		2,524,008		2,501,560
Finance	Other long-term liabilities		169,513		155,855
Total lease liabilities		$	3,003,261	$	2,948,759

Lease Cost

		Twelve Weeks Ended
		November 21,		November 23,
(in thousands)	Statement of Income Location	2020		2019
Finance lease cost:
Amortization of lease assets	Depreciation and amortization	$	9,319	$	12,656
Interest on lease liabilities	Interest expense, net		703		1,385
Operating lease cost(1)	Selling, general and administrative expenses		84,103		81,799
Total lease cost		$	94,125	$	95,840

(1) Includes short-term leases, variable lease costs and sublease income, which are immaterial.

Information on Lease Term and Discount Rate

	November 21,
	2020
Weighted-average remaining lease term in years, inclusive of renewal options that are reasonably certain to be exercised:
Finance leases – real estate	27
Finance leases – vehicles	4
Operating leases	15
Weighted-average discount rate:
Finance leases – real estate	3.48	%
Finance leases – vehicles	2.04	%
Operating leases	3.46	%

Other Information Related to Lease Liabilities

	November 21,
	2020
Weighted-average remaining lease term in years, inclusive of renewal options that are reasonably certain to be exercised:
Finance leases – real estate	27
Finance leases – vehicles	4
Operating leases	15
Weighted-average discount rate:
Finance leases – real estate	3.48	%
Finance leases – vehicles	2.04	%
Operating leases	3.46	%

The following table summarizes the other information related to the Company’s lease liabilities: