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Leases (Tables) | 12 Months Ended
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Aug. 28, 2021
Leases. |
Lease related assets and liabilities recorded on the Balance Sheet | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ | ​ |  | ​ | ​
(in thousands) |  | Classification |  | August 28, 2021 | ​ | August 29, 2020
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Assets: |  |  |  | ​ |  | ​ | ​ | ​
Operating |  | Operating lease right-of-use assets | ​ | $ | 2,718,712 | ​ | $ | 2,581,677
Finance |  | Property and equipment | ​ |  | 383,736 | ​ |  | 327,006
Total lease assets |  |  | ​ | $ | 3,102,448 | ​ | $ | 2,908,683
Liabilities: |  |  | ​ |  |  | ​ |  | ​
Current: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating |  | Current portion of operating lease liabilities | ​ | $ | 236,568 | ​ | $ | 223,846
Finance |  | Accrued expenses and other | ​ |  | 89,932 | ​ |  | 67,498
Noncurrent: |  |  | ​ |  |  | ​ |  | ​
Operating |  | Operating lease liabilities, less current portion | ​ |  | 2,632,842 | ​ |  | 2,501,560
Finance |  | Other long-term liabilities | ​ |  | 186,122 | ​ |  | 155,855
Total lease liabilities |  |  | ​ | $ | 3,145,464 | ​ | $ | 2,948,759
Lease Cost | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | For the year ended
(in thousands) | ​ | Statement of Income Location | ​ |  | August 28, 2021 | ​ | August 29, 2020
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Finance lease cost: |  |  |  | ​ | ​ |  | ​ | ​ |
Amortization of lease assets |  | Depreciation and amortization | ​ | ​ | $ | 53,377 | ​ | $ | 55,920
Interest on lease liabilities |  | Interest expense, net | ​ | ​ |  | 2,957 | ​ |  | 4,355
Operating lease cost(1) |  | Selling, general and administrative expenses | ​ | ​ |  | 371,109 | ​ |  | 355,230
Total lease cost | ​ | ​ | ​ | ​ | $ | 427,443 | ​ | $ | 415,505
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(1) | Includes short-term leases, variable lease costs and sublease income, which are immaterial.
Lease Term and Discount Rate Assumptions | ​
​ | ​ | ​ | ​
​ |  | ​ |
​ | ​ | August 28, 2021 | ​
​ | ​ | ​ | ​
Weighted-average remaining lease term in years, inclusive of renewal options that are reasonably certain to be exercised: |  |  | ​
Finance leases – real estate |  | 25 | ​
Finance leases – vehicles |  | 4 | ​
Operating leases |  | 15 | ​
Weighted-average discount rate: |  |  | ​
Finance leases – real estate |  | 3.75 | %
Finance leases – vehicles |  | 1.37 | %
Operating leases |  | 3.44 | %
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 28, 2021 having initial or remaining lease terms in excess of one year are as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Finance |  | Operating |  | ​
(in thousands) | ​ | Leases | ​ | Leases | ​ | Total
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2022 | ​ | $ | 91,228 | ​ | $ | 323,245 | ​ | $ | 414,473
2023 | ​ |  | 56,534 | ​ |  | 346,367 | ​ |  | 402,901
2024 | ​ |  | 50,435 | ​ |  | 325,775 | ​ |  | 376,210
2025 | ​ |  | 39,628 | ​ |  | 300,916 | ​ |  | 340,544
2026 | ​ |  | 18,294 | ​ |  | 272,157 | ​ |  | 290,451
Thereafter | ​ |  | 48,380 | ​ |  | 2,114,538 | ​ |  | 2,162,918
Total lease payments | ​ | ​ | 304,499 | ​ | ​ | 3,682,998 | ​ |  | 3,987,497
Less: Interest | ​ |  | (28,445) | ​ |  | (813,588) | ​ |  | (842,033)
Present value of lease liabilities | ​ | $ | 276,054 | ​ | $ | 2,869,410 | ​ | $ | 3,145,464

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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=121609121&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=121609121&loc=SL77918701-209980 + Details
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