Leases (Tables)

12 Months Ended

Aug. 31, 2021

Lease cost and other information related to the Company’s operating leases are as follows:

	August 31,
($ in thousands)	2021			2020
Operating lease cost (cost resulting from lease payments)	$	5,441		$	5,999
Variable lease cost (cost excluded from lease payments)		508			424
Total lease cost	$	5,949		$	6,423

Operating cash outflows from operating leases	$	4,805		$	5,767
Weighted average lease term - operating leases	9.7 years			9.1 years
Weighted average discount rate - operating leases		3.3	%		3.2	%

Supplemental balance sheet information related to operating leases are as follows:

		August 31,
($ in thousands)	Classification	2021		2020
Operating lease ROU assets	Operating lease right-of-use assets	$	18,281	$	27,457

Operating lease short-term liabilities	Other current liabilities		3,991		5,123
Operating lease long-term liabilities	Operating lease liabilities		18,301		25,862
Total lease liabilities		$	22,292	$	30,985

The minimum lease payments under operating leases expiring subsequent to August 31, 2021 are as follows:

Fiscal year ending	$ in thousands
2022	$	4,655
2023		2,983
2024		2,609
2025		2,007
2026		1,736
Thereafter		12,657
Total lease payments		26,647
Less: interest		4,355
Present value of lease liabilities	$	22,292