Commitments and Contingencies (Tables)

12 Months Ended

Aug. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

Operating lease commitments

The following details our future minimum commitments for operating and capital leases as of August 31, 2014:

($ in thousands)	Capital Leases			Operating Leases(1)
2015	$	17,963		$	171,875
2016	10,957			149,902
2017	4,093			123,289
2018	947			103,134
2019	330			74,871
Thereafter	611			296,334
Total future minimum lease obligation(1), (2)	$	34,901		$	919,405
Less: imputed interest on capital leases	(2,095		)
Net present value of capital lease obligations	$	32,806

⁽¹⁾ The total future minimum lease obligation excludes non-cancelable sublease rental income of $25.7 million.

⁽²⁾ We have initiated restructuring activities that include ceasing use of a significant number of our operating leases. Refer to Note 2, Restructuring and Other Charges. The total future minimum operating lease obligation includes approximately $163 million of future contractual lease payments associated with locations for which we no longer expect to receive an economic benefit. The total future minimum operating lease obligation also includes approximately $6 million of future contractual lease payments associated with locations that we expect to close as University of Phoenix obtains the necessary regulatory approvals and completes its teach-out obligations.

Capital lease commitments

The following details our future minimum commitments for operating and capital leases as of August 31, 2014:

($ in thousands)	Capital Leases			Operating Leases(1)
2015	$	17,963		$	171,875
2016	10,957			149,902
2017	4,093			123,289
2018	947			103,134
2019	330			74,871
Thereafter	611			296,334
Total future minimum lease obligation(1), (2)	$	34,901		$	919,405
Less: imputed interest on capital leases	(2,095		)
Net present value of capital lease obligations	$	32,806

⁽¹⁾ The total future minimum lease obligation excludes non-cancelable sublease rental income of $25.7 million.

⁽²⁾ We have initiated restructuring activities that include ceasing use of a significant number of our operating leases. Refer to Note 2, Restructuring and Other Charges. The total future minimum operating lease obligation includes approximately $163 million of future contractual lease payments associated with locations for which we no longer expect to receive an economic benefit. The total future minimum operating lease obligation also includes approximately $6 million of future contractual lease payments associated with locations that we expect to close as University of Phoenix obtains the necessary regulatory approvals and completes its teach-out obligations.