Leases (Tables)

12 Months Ended

Aug. 31, 2024

Leases

Lease related assets and liabilities recorded on the Balance Sheet

(in thousands)	Classification	August 31, 2024		August 26, 2023
Assets:
Operating	Operating lease right-of-use assets	$	3,057,780	$	2,998,097
Finance	Property and equipment		528,482		419,247
Total lease assets		$	3,586,262	$	3,417,344
Liabilities:
Current:
Operating	Current portion of operating lease liabilities	$	266,855	$	257,256
Finance	Accrued expenses and other		115,559		86,916
Noncurrent:
Operating	Operating lease liabilities, less current portion		2,960,174		2,917,046
Finance	Other long-term liabilities		283,882		200,702
Total lease liabilities		$	3,626,470	$	3,461,920

Lease Cost

		For the year ended
(in thousands)	Statement of Income Location	August 31, 2024		August 26, 2023
Finance lease cost:
Amortization of lease assets	Depreciation and amortization	$	84,392	$	71,913
Interest on lease liabilities	Interest expense, net		19,279		14,608
Operating lease cost(1)	Selling, general and administrative expenses		485,164		437,762
Total lease cost		$	588,835	$	524,283

(1) Includes short-term leases, variable lease costs and sublease income, which are immaterial.

Schedule of future maturities of finance lease liability

	Finance		Operating
(in thousands)	Leases		Leases		Total
2025	$	116,999	$	391,901	$	508,900
2026		117,426		424,859		542,285
2027		92,415		404,075		496,490
2028		61,692		375,799		437,491
2029		30,697		344,197		374,894
Thereafter		42,425		2,217,046		2,259,471
Total lease payments		461,654		4,157,877		4,619,531
Less: Interest		(62,213)		(930,848)		(993,061)
Present value of lease liabilities	$	399,441	$	3,227,029	$	3,626,470

Summary of the Future Maturities of the Company's Lease Liabilities

The future rental payments, inclusive of renewal options that have been included in defining the expected lease term, of our operating and finance lease obligations as of August 31, 2024 having initial or remaining lease terms in excess of one year are as follows:

	Finance		Operating
(in thousands)	Leases		Leases		Total
2025	$	116,999	$	391,901	$	508,900
2026		117,426		424,859		542,285
2027		92,415		404,075		496,490
2028		61,692		375,799		437,491
2029		30,697		344,197		374,894
Thereafter		42,425		2,217,046		2,259,471
Total lease payments		461,654		4,157,877		4,619,531
Less: Interest		(62,213)		(930,848)		(993,061)
Present value of lease liabilities	$	399,441	$	3,227,029	$	3,626,470

Lease Term and Discount Rate Assumptions

	August 31, 2024
Weighted-average remaining lease term in years, inclusive of renewal options that are reasonably certain to be exercised:
Finance leases – real estate	21
Finance leases – vehicles	4
Operating leases	12
Weighted-average discount rate:
Finance leases – real estate	3.90	%
Finance leases – vehicles	5.17	%
Operating leases	4.13	%