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LEASES (Tables)

12 Months Ended

Aug. 31, 2020

Summary of Components of Total Lease Costs


	Year Ended August 31,
	2020
Operating lease cost	$	17,305
Short-term lease cost		236
Variable lease cost		3,679
Sublease income		(1,061)
Total lease costs	$	20,159

Weighted Average Remaining Lease Term and Weighted Average Discount Rate


		Operating leases
Weighted average remaining lease term in years		18.2
Weighted average discount rate percentage		6.4%

Supplemental Cash Flow Information Related To Leases


	Year Ended August 31,
	2020
Operating cash flows paid for operating leases	$	15,392

Schedule of Future Minimum Lease Commitments

The Company is committed under non-cancelable operating leases for the rental of facilities and land. Future minimum lease commitments for facilities under these leases with an initial term in excess of one year are as follows (in thousands):


	Leased
Years Ended August 31,	Locations⁽¹⁾
2021	$	15,001
2022		15,040
2023		14,698
2024		14,205
2025		13,994
Thereafter		167,775
Total future lease payments		240,713
Less: imputed interest		(107,938)
Total operating lease liabilities	$	132,775	⁽²⁾

⁽¹⁾Operating lease obligations have been reduced by approximately $0.9 million to reflect expected sub-lease income. Certain obligations under leasing arrangements are collateralized by the underlying asset being leased.

⁽²⁾Future minimum lease payments include $0.6 million of lease payment obligations for the prior leased Miami distribution center. For the purposes of calculating the minimum lease payments, a reduction is reflected for the actual sub-lease income the Company expects to receive during the remaining lease term. This sub-lease income was also considered, for the purposes of calculating the exit obligation, which was immaterial as of August 31, 2020.

Upon adoption of ASU 2016-02, Leases (Topic 842), the Company's aggregate annual lease obligations includes leases with reasonably assured renewals. The aggregate minimum annual lease rentals as of August 31, 2019 for the remaining contractual term of non-cancelable leases under ASC 840 were as follows:


	Leased
Years Ended August 31,	Locations⁽¹⁾
2020	$	14,049
2021		13,272
2022		13,033
2023		13,065
2024		12,558
Thereafter		180,913
Total		246,890	⁽²⁾

⁽¹⁾Operating lease obligations have been reduced by approximately $2.3 million to reflect expected sub-lease income. Certain obligations under leasing arrangements are collateralized by the underlying asset being leased.

⁽²⁾Future minimum lease payments include $1.6 million of lease payment obligations for the prior leased Miami distribution center. For the purposes of calculating the minimum lease payments, a reduction is reflected for the actual sub-lease income the Company expects to receive during the remaining lease term. This sub-lease income was also considered, for the purposes of calculating the exit obligation, which was immaterial as of August 31, 2019.