Leases (Tables)

9 Months Ended

May 31, 2020

Lease expense is recognized on a straight-line basis over the lease term. The components of lease expense recognized in our Condensed Consolidated Statements of Operations are as follows:



	Three Months Ended May 31, 2020		Nine Months Ended May 31, 2020
	(Dollars in thousands)
Operating lease expense	$	17,057	$	53,155
Finance lease expense:
Amortization of assets	1,908		5,170
Interest on lease liabilities	257		742
Short-term lease expense	3,108		12,768
Variable lease expense	1,176		2,089
Total net lease expense*	$	23,506	$	73,924

*Income related to sub-lease activity is not material and has been excluded from the table above.

Lease Balance Sheet disclosure [Table Text Block]

Supplemental balance sheet information related to operating and finance leases is as follows:



	Balance Sheet Location	May 31, 2020
		(Dollars in thousands)
Operating leases
Assets
Operating lease right of use assets	Other assets	$	261,125
Liabilities
Current operating lease liabilities	Accrued expenses	57,470
Long-term operating lease liabilities	Other liabilities	206,299
Total operating lease liabilities		$	263,769

Finance leases
Assets
Finance lease assets	Property, plant and equipment	$	42,854
Liabilities
Current finance lease liabilities	Current portion of long-term debt	6,710
Long-term finance lease liabilities	Long-term debt	22,443
Total finance lease liabilities		$	29,153

Weighted average remaining lease term (in years)
Operating leases		8.5
Finance leases		6.2

Weighted average discount rate
Operating leases		3.13		%
Finance leases		3.31		%

Lease Cash flow and other information disclosure [Table Text Block]

Supplemental cash flow and other information related to operating and finance leases are as follows:



	Nine Months Ended May 31, 2020
	(Dollars in thousands)
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows from operating leases	$	45,718
Operating cash flows from finance leases	742
Financing cash flows from finance leases	5,239
Supplemental noncash information:
Right of use assets obtained in exchange for lease liabilities	32,567
Right of use asset modifications	6,507

Lease liability maturity [Table Text Block]

Maturities of lease liabilities as of May 31, 2020, were as follows:



	May 31, 2020
	Finance Leases		Operating Leases
	(Dollars in thousands)
Remainder of fiscal 2020	$	1,689	$	17,401
Fiscal 2021	7,297		61,134
Fiscal 2022	6,141		47,348
Fiscal 2023	5,472		37,260
Fiscal 2024	3,067		29,368
After fiscal 2024	9,339		174,940
Total maturities of lease liabilities	33,005		367,451
Less amounts representing interest	3,852		103,682
Present value of future minimum lease payments	29,153		263,769
Less current obligations	6,710		57,470
Long-term obligations	$	22,443	$	206,299

Schedule of future minimum payments for capital and operating leases [Table Text Block]

Minimum future lease payments required under noncancelable capital and operating leases as of August 31, 2019, were as follows:



	August 31, 2019
	Capital Leases		Operating Leases
	(Dollars in thousands)
Fiscal 2020	$	6,761	$	87,168
Fiscal 2021	6,199		57,381
Fiscal 2022	5,021		43,665
Fiscal 2023	4,548		34,328
Fiscal 2024	2,638		26,793
Thereafter	6,517		92,653
Total minimum future lease payments	31,684		$	341,988
Less amount representing interest	3,445
Present value of net minimum lease payments	$	28,239