Leases (Tables)

3 Months Ended

Nov. 30, 2020

Leases [Abstract]

Assets and Liabilities, Lessee

Supplemental balance sheet information related to leases were as follows (in millions):

Balance Sheet supplemental information:	November 30, 2020		August 31, 2020
Operating Leases:
Operating lease right-of-use assets	$	21,951	$	21,724
Operating lease obligations - current	2,435		2,426
Operating lease obligations - non-current	22,166		21,973
Total operating lease obligations	$	24,601	$	24,399
Finance Leases:
Right-of-use assets included in:
Property, plant and equipment, net	$	759	$	769
Lease obligations included in:
Accrued expenses and other liabilities	32		34
Other non-current liabilities	1,009		1,020
Total finance lease obligations	$	1,041	$	1,054

Lease, Cost

Supplemental income statement information related to leases were as follows (in millions):

	Three months ended November 30,
Income Statement supplemental information:	2020		2019
Operating lease cost
Fixed	$	827	$	830
Variable 1	162		14
Finance lease cost
Amortization	$	11	$	9
Interest	14		14
Sublease income	20		15
Impairment of right-of-use assets	10		—
Gains on sale-leaseback transactions2	93		77

1The three months ended November 30, 2020 includes real estate property taxes, common area maintenance, insurance and rental payments based on sales volume.

2Recorded within selling, general and administrative expenses.

Other supplemental information were as follows (in millions):

	Three months ended November 30,
Other Supplemental Information:	2020		2019
Cash paid for amounts included in the measurement of lease obligations
Operating cash flows from operating leases	$	872	$	831
Operating cash flows from finance leases	12		11
Financing cash flows from finance leases	11		13
Total	$	895	$	855
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	$	805	$	552

Average lease term and discount rate as of November 30, 2020 and August 31, 2020 were as follows:

Weighted average terms and discount rates:	November 30, 2020		August 31, 2020
Weighted average remaining lease term in years:
Operating leases	10.6		10.7
Finance leases	20.6		20.7
Weighted average discount rate
Operating leases	4.95	%	4.95	%
Finance leases	5.39	%	5.39	%

Lessee, Operating Lease, Liability, Maturity

The aggregate future lease payments for operating and finance leases as of November 30, 2020 were as follows (in millions):

Future lease payments:
Fiscal year	Finance lease		Operating lease
2021 (Remaining period)	$	72	$	2,657
2022	96		3,421
2023	93		3,274
2024	93		3,126
2025	91		2,963
2026	87		2,796
Later	1,139		13,479
Total undiscounted minimum lease payments	$	1,671	$	31,716
Less: Present value discount	(630)		(7,115)
Lease liability	$	1,041	$	24,601

Finance Lease, Liability, Maturity

The aggregate future lease payments for operating and finance leases as of November 30, 2020 were as follows (in millions):

Future lease payments:
Fiscal year	Finance lease		Operating lease
2021 (Remaining period)	$	72	$	2,657
2022	96		3,421
2023	93		3,274
2024	93		3,126
2025	91		2,963
2026	87		2,796
Later	1,139		13,479
Total undiscounted minimum lease payments	$	1,671	$	31,716
Less: Present value discount	(630)		(7,115)
Lease liability	$	1,041	$	24,601