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v3.22.2.2

Leases (Tables) | 12 Months Ended
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Aug. 27, 2022
Leases |
Lease related assets and liabilities recorded on the Balance Sheet | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ | ​ |  | ​ | ​
(in thousands) |  | Classification |  | August 27, 2022 | ​ | August 28, 2021
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Assets: |  |  |  | ​ |  | ​ | ​ | ​
Operating |  | Operating lease right-of-use assets | ​ | $ | 2,918,817 | ​ | $ | 2,718,712
Finance |  | Property and equipment | ​ |  | 404,442 | ​ |  | 383,736
Total lease assets |  |  | ​ | $ | 3,323,259 | ​ | $ | 3,102,448
Liabilities: |  |  | ​ |  |  | ​ |  | ​
Current: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating |  | Current portion of operating lease liabilities | ​ | $ | 243,407 | ​ | $ | 236,568
Finance |  | Accrued expenses and other | ​ |  | 92,877 | ​ |  | 89,932
Noncurrent: |  |  | ​ |  |  | ​ |  |
Operating |  | Operating lease liabilities, less current portion | ​ |  | 2,837,973 | ​ |  | 2,632,842
Finance |  | Other long-term liabilities | ​ |  | 217,428 | ​ |  | 186,122
Total lease liabilities |  |  | ​ | $ | 3,391,685 | ​ | $ | 3,145,464
Lease Cost | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | For the year ended
(in thousands) | ​ | Statement of Income Location | ​ |  | August 27, 2022 | ​ | August 28, 2021
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Finance lease cost: |  |  |  | ​ | ​ |  | ​ | ​ |
Amortization of lease assets |  | Depreciation and amortization | ​ | ​ | $ | 65,212 | ​ | $ | 53,377
Interest on lease liabilities |  | Interest expense, net | ​ | ​ |  | 4,351 | ​ |  | 2,957
Operating lease cost(1) |  | Selling, general and administrative expenses | ​ | ​ |  | 401,000 | ​ |  | 371,109
Total lease cost | ​ | ​ | ​ | ​ | $ | 470,563 | ​ | $ | 427,443
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(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
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2023 | ​ | $ | 94,226 | ​ | $ | 344,900 | ​ | $ | 439,126
2024 | ​ |  | 73,476 | ​ |  | 376,444 | ​ |  | 449,920
2025 | ​ |  | 64,033 | ​ |  | 356,757 | ​ |  | 420,790
2026 | ​ |  | 45,023 | ​ |  | 330,200 | ​ |  | 375,223
2027 | ​ |  | 15,258 | ​ |  | 305,640 | ​ |  | 320,898
Thereafter | ​ |  | 44,693 | ​ |  | 2,236,418 | ​ |  | 2,281,111
Total lease payments | ​ | ​ | 336,709 | ​ | ​ | 3,950,359 | ​ |  | 4,287,068
Less: Interest | ​ |  | (26,404) | ​ |  | (868,979) | ​ |  | (895,383)
Present value of lease liabilities | ​ | $ | 310,305 | ​ | $ | 3,081,380 | ​ | $ | 3,391,685
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 27, 2022 having initial or remaining lease terms in excess of one year are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Finance |  | Operating |  | ​
(in thousands) | ​ | Leases | ​ | Leases | ​ | Total
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2023 | ​ | $ | 94,226 | ​ | $ | 344,900 | ​ | $ | 439,126
2024 | ​ |  | 73,476 | ​ |  | 376,444 | ​ |  | 449,920
2025 | ​ |  | 64,033 | ​ |  | 356,757 | ​ |  | 420,790
2026 | ​ |  | 45,023 | ​ |  | 330,200 | ​ |  | 375,223
2027 | ​ |  | 15,258 | ​ |  | 305,640 | ​ |  | 320,898
Thereafter | ​ |  | 44,693 | ​ |  | 2,236,418 | ​ |  | 2,281,111
Total lease payments | ​ | ​ | 336,709 | ​ | ​ | 3,950,359 | ​ |  | 4,287,068
Less: Interest | ​ |  | (26,404) | ​ |  | (868,979) | ​ |  | (895,383)
Present value of lease liabilities | ​ | $ | 310,305 | ​ | $ | 3,081,380 | ​ | $ | 3,391,685
Lease Term and Discount Rate Assumptions | ​
​ | ​ | ​ | ​
​ |  | ​ |
​ | ​ | August 27, 2022 | ​
​ | ​ | ​ | ​
Weighted-average remaining lease term in years, inclusive of renewal options that are reasonably certain to be exercised: |  |  | ​
Finance leases – real estate |  | 24 | ​
Finance leases – vehicles |  | 4 | ​
Operating leases |  | 13 | ​
Weighted-average discount rate: |  | ​ | ​
Finance leases – real estate |  | 3.76 | %
Finance leases – vehicles |  | 1.17 | %
Operating leases |  | 3.57 | %

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