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Leases (Tables) | 3 Months Ended
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Nov. 23, 2019
Leases [Abstract] |
Balance Sheet Information Related To Leases | Lease-related assets and liabilities recorded on the Condensed Consolidated Balance Sheet are as follows:
(in thousands) |  | Classification |  | November 23, 2019 |  |
Assets: |  |  |  |  |  |  |
Operating lease assets |  | Operating lease right-of-use assets |  | $ | 2,585,105 |  |
Finance lease assets (1) |  | Property and equipment, less accumulated depreciation and amortization |  |  | 284,383 |  |
Total lease assets |  | $ | 2,869,488 |  |
Liabilities: |  |  |  |  |  |  |
Current: |  |  |  |  |  |  |
Operating |  | Current portion of operating lease liab i lities |  | $ | 232,549 |  |
Finance |  | Accrued expenses and other |  |  | 57,808 |  |
Noncurrent: |  |  |  |  |  |  |
Operating |  | Operating lease liabilities, less current portion |  |  | 2,506,829 |  |
Finance |  | Other long-term liabilities |  |  | 137,856 |  |
Total lease liabilities |  |  |  | $ | 2,935,042 |  |
(1) | Finance lease assets are net of accumulated amortization of $85,107.
Lease Cost | Lease costs for finance and operating leases for the twelve-week period ended November ​​​​​​​23, 2019 are as follows:
(in thousands) |  | Statement of Income Location |  | Twelve Weeks Ended November 23, 2019 |
Finance lease cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortization of lease assets |  | Depreciation and amortization |  |  |  |  |  | $ | 12,656 |  |  |  |  |
Interest on lease liabilities |  | Interest expense, net |  |  |  |  |  |  | 1,385 |  |  |  |  |
Operating lease cost (1) |  | Selling, general and administrative expenses |  |  |  |  |  |  | 81,799 |  |  |  |  |
Total lease cost |  |  |  |  |  |  |  | $ | 95,840 |  |  |  |  |
(1) | Includes short-term leases, variable lease costs and sublease income, which are immaterial.
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 November 23, 2019 having initial or remaining lease terms in excess of one year are as follows:
(in thousands) |  | Finance Leases |  |  | Operating Leases |  |  | Total |
2020 |  |  |  |  |  | $ | 44,456 |  |  |  |  |  |  |  |  |  |  | $ | 238,345 |  |  |  |  |  |  |  |  |  |  | $ | 282,801 |  |  |  |  |
2021 |  |  |  |  |  |  | 55,841 |  |  |  |  |  |  |  |  |  |  |  | 318,198 |  |  |  |  |  |  |  |  |  |  |  | 374,039 |  |  |  |  |
2022 |  |  |  |  |  |  | 43,890 |  |  |  |  |  |  |  |  |  |  |  | 304,855 |  |  |  |  |  |  |  |  |  |  |  | 348,745 |  |  |  |  |
2023 |  |  |  |  |  |  | 30,643 |  |  |  |  |  |  |  |  |  |  |  | 285,161 |  |  |  |  |  |  |  |  |  |  |  | 315,804 |  |  |  |  |
2024 |  |  |  |  |  |  | 9,512 |  |  |  |  |  |  |  |  |  |  |  | 261,818 |  |  |  |  |  |  |  |  |  |  |  | 271,330 |  |  |  |  |
Thereafter |  |  |  |  |  |  | 25,914 |  |  |  |  |  |  |  |  |  |  |  | 2,201,994 |  |  |  |  |  |  |  |  |  |  |  | 2,227,908 |  |  |  |  |
Total lease payments |  |  |  |  |  |  | 210,256 |  |  |  |  |  |  |  |  |  |  |  | 3,610,371 |  |  |  |  |  |  |  |  |  |  |  | 3,820,627 |  |  |  |  |
Less: Interest |  |  |  |  |  |  | (14,592 | ) |  |  |  |  |  |  |  |  |  |  | (870,993 | ) |  |  |  |  |  |  |  |  |  |  | (885,585 | ) |  |  |  |
Present value of lease liabilities |  |  |  |  |  | $ | 195,664 |  |  |  |  |  |  |  |  |  |  | $ | 2,739,378 |  |  |  |  |  |  |  |  |  |  | $ | 2,935,042 |  |  |  |  |
Future Minimum Annual Rental Commitments Under Non-Cancelable Operating Leases and Capital Leases | Future minimum annual rental commitments under non-cancelable operating leases and capital leases were as follows as of August 31, 2019:
(in thousands) |  | Operating Leases |  |  | Capital Leases |
2020 |  |  |  |  |  | $ | 315,424 |  |  |  |  |  |  |  |  |  |  | $ | 56,246 |  |  |  |  |
2021 |  |  |  |  |  |  | 302,056 |  |  |  |  |  |  |  |  |  |  |  | 51,679 |  |  |  |  |
2022 |  |  |  |  |  |  | 281,287 |  |  |  |  |  |  |  |  |  |  |  | 39,094 |  |  |  |  |
2023 |  |  |  |  |  |  | 252,868 |  |  |  |  |  |  |  |  |  |  |  | 28,401 |  |  |  |  |
2024 |  |  |  |  |  |  | 221,213 |  |  |  |  |  |  |  |  |  |  |  | 7,300 |  |  |  |  |
Thereafter |  |  |  |  |  |  | 824,244 |  |  |  |  |  |  |  |  |  |  |  | – |  |  |  |  |
Total minimum payments required |  |  |  |  |  | $ | 2,197,092 |  |  |  |  |  |  |  |  |  |  |  | 182,720 |  |  |  |  |
Less: Interest |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,815 | ) |  |  |  |
Present value of minimum capital lease payments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 179,905 |  |  |  |  |
Information On Lease Term And Discount Rate | The following table summarizes the Company’s lease term and discount rate assumptions:
|  | Twel ve Weeks E nded November 23, 2019 |
Weighted-average remaining lease term in years, inclusive of renewal options that are reasonably certain to be exercised |  |  |  |
Finance leases – real estate |  |  | 29 |
Finance leases – vehicles |  |  | 4 |
Operating leases |  |  | 15 |
Weighted-average discount rate: |  |  |  |
Finance leases – real estate |  |  | 3.20% |
Finance leases – vehicles |  |  | 2.70% |
Operating leases |  |  | 3.56% |
Other Information Related To Lease Liabilities | The following table summarizes the other information related to the Company’s lease liabilities:
(in thousands) |  | Twelve Weeks Ended November 23, 2019 |
Cash paid for amounts included in the measurement of lease liabilities – operating cash flows from operating leases |  | $ | 50,526 |
Leased assets obtained in exchange for new finance lease liabilities |  |  | 18,297 |
Leased assets obtained in exchange for new operating lease liabilities |  |  | 19,656 |

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- Definition Tabular disclosure of contractual obligation by timing of payment due. Includes, but is not limited to, long-term debt obligation, lease obligation, and purchase obligation. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 303 -Paragraph (a) -Subparagraph (5) + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
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