Leases

12 Months Ended

Aug. 29, 2021

Leases [Abstract]

Leases

Note 6—Leases

The tables below present information regarding the Company's lease assets and liabilities.

	2021		2020
Assets
Operating lease right-of-use assets	$	2,890	$	2,788
Finance lease assets(1)	1,000		592
Total lease assets	$	3,890	$	3,380
Liabilities
Current
Operating lease liabilities(2)	$	222	$	231
Finance lease liabilities(2)	72		31
Long-term
Operating lease liabilities	2,642		2,558
Finance lease liabilities(3)	980		657
Total lease liabilities	$	3,916	$	3,477

 _______________

(1)Included in other long-term assets in the consolidated balance sheets.

(2)Included in other current liabilities in the consolidated balance sheets.

(3)Included in other long-term liabilities in the consolidated balance sheets.

	2021		2020
Weighted-average remaining lease term (years)
Operating leases	21		21
Finance leases	22		20
Weighted-average discount rate
Operating leases	2.16	%	2.23	%
Finance leases	4.91	%	6.34	%

The components of lease expense, excluding short-term lease costs and sublease income (which were not material), were as follows:

	2021		2020
Operating lease costs(1)	$	296	$	252
Finance lease costs:
Amortization of lease assets(1)	50		31
Interest on lease liabilities(2)	37		33
Variable lease costs(3)	151		87
Total lease costs	$	534	$	403

 _______________

(1)Included in selling, general and administrative expenses and merchandise costs in the consolidated statements of income.

(2)Included in interest expense in the consolidated statements of income.

(3)Included in selling, general and administrative expenses and merchandise costs in the consolidated statements of income.

Supplemental cash flow information related to leases was as follows:

	2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows — operating leases	$	282	$	258
Operating cash flows — finance leases	37		33
Financing cash flows — finance leases	67		49
Leased assets obtained in exchange for operating lease liabilities	350		354
Leased assets obtained in exchange for finance lease liabilities	399		317

As of August 29, 2021, future minimum payments during the next five fiscal years and thereafter are as follows:

	Operating Leases(1)		Finance Leases
2022	$	260	$	107
2023	273		92
2024	232		87
2025	191		159
2026	192		74
Thereafter	2,507		1,070
Total(2)	3,655		1,589
Less amount representing interest	791		537
Present value of lease liabilities	$	2,864	$	1,052

 _______________

(1)Operating lease payments have not been reduced by future sublease income of $99.

(2)Excludes $665 of lease payments for leases that have been signed but not commenced.