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Leases (Tables) | 6 Months Ended
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Feb. 29, 2020
Leases [Abstract] |
Schedule of Supplemental Balance Sheet Information, Lease Terms and Discount Rates | The following table sets forth the amount of lease assets and lease liabilities included on the Company's Condensed Consolidated Balance Sheets, as of the period indicated (in thousands):
|  | Financial Statement Line Item |  | February 29, 2020
Assets |  |  |  |
Operating lease assets (1) |  | Operating lease right-of-use assets |  | $ | 373,413 |
Finance lease assets (2) |  | Property, plant and equipment, net |  | 151,401 |
Total lease assets |  |  |  | $ | 524,814 |
Liabilities |  |  |  |
Current |  |  |  |
Operating lease liabilities |  | Current operating lease liabilities |  | $ | 100,033 |
Finance lease liabilities |  | Accrued expenses |  | 6,906 |
Non-current |  |  |  |
Operating lease liabilities |  | Non-current operating lease liabilities |  | 311,879 |
Finance lease liabilities |  | Other liabilities |  | 156,798 |
Total lease liabilities |  |  |  | $ | 575,616 |
(1) | Net of accumulated amortization of $49.2 million.
(2) Net of accumulated amortization of $9.6 million.
Schedule of Expenses and Income and Supplemental Cash Flow Information | The following table is a summary of expenses related to leases included on the Company's Condensed Consolidated Statements of Operations, for the periods indicated (in thousands):
| Three months ended |  | Six months ended
| February 29, 2020 |  | February 29, 2020
Operating lease cost | $ | 27,810 |  |  | $ | 55,546 |
Finance lease cost |  |  |
Amortization of leased assets | 1,445 |  |  | 2,581 |
Interest on lease liabilities | 1,254 |  |  | 2,443 |
Other | 1,655 |  |  | 4,183 |
Net lease cost(1) | $ | 32,164 |  |  | $ | 64,753 |
(1) | Lease costs are primarily recognized in cost of revenue.
The following table is a summary of the weighted-average remaining lease terms and weighted-average discount rates of the Company's leases, as of the period indicated:
| February 29, 2020
| Weighted-average remaining lease term |  | Weighted-average discount rate
Operating leases | 5.5 years |  | 3.22 | %
Finance leases | 6.3 years |  | 4.31 | %
The following table sets forth other supplemental information related to the Company's lease portfolio (in thousands):
| Six months ended
| February 29, 2020
Cash paid for amounts included in the measurement of lease liabilities: |
Operating cash flows for operating leases(1) | $ | 55,592 |
Operating cash flows for finance leases(1) | 2,443 |
Financing activities for finance leases(2) | 2,808 |
Non-cash right-of-use assets obtained in exchange for new lease liabilities: |
Operating leases | 34,213 |
Finance leases | 111,591 |
(1) | Included in accounts payable, accrued expenses and other liabilities in Operating Activities of the Company's Condensed Consolidated Statements of Cash Flows.
(2) Included in payments toward debt agreements in Financing Activities of the Company's Condensed Consolidated Statements of Cash Flows.
Schedule of Future Minimum Lease Payments under Operating Leases | The future minimum lease payments under operating and finance leases as of February 29, 2020 were as follows (in thousands):
Twelve months ended February 29, | Operating Leases(1) |  | Finance Leases |  | Total
2020 | $ | 110,692 |  |  | $ | 11,849 |  |  | $ | 122,541 |
2021 | 89,479 |  |  | 12,375 |  |  | 101,854 |
2022 | 69,928 |  |  | 11,744 |  |  | 81,672 |
2023 | 53,400 |  |  | 11,879 |  |  | 65,279 |
2024 | 41,472 |  |  | 15,644 |  |  | 57,116 |
Thereafter | 92,529 |  |  | 128,763 |  |  | 221,292 |
Total minimum lease payments | $ | 457,500 |  |  | $ | 192,254 |  |  | $ | 649,754 |
Less: Interest | (45,588 | ) |  | (28,550 | ) |  | (74,138 | )
Present value of lease liabilities | $ | 411,912 |  |  | $ | 163,704 |  |  | $ | 575,616 |
(1) Excludes $28.2 million of payments related to leases signed but not yet commenced. Additionally, certain leases signed but not yet commenced contain residual value guarantees and purchase options not deemed probable.
Schedule of Future Minimum Lease Payments under Finance Leases | The future minimum lease payments under operating and finance leases as of February 29, 2020 were as follows (in thousands):
Twelve months ended February 29, | Operating Leases(1) |  | Finance Leases |  | Total
2020 | $ | 110,692 |  |  | $ | 11,849 |  |  | $ | 122,541 |
2021 | 89,479 |  |  | 12,375 |  |  | 101,854 |
2022 | 69,928 |  |  | 11,744 |  |  | 81,672 |
2023 | 53,400 |  |  | 11,879 |  |  | 65,279 |
2024 | 41,472 |  |  | 15,644 |  |  | 57,116 |
Thereafter | 92,529 |  |  | 128,763 |  |  | 221,292 |
Total minimum lease payments | $ | 457,500 |  |  | $ | 192,254 |  |  | $ | 649,754 |
Less: Interest | (45,588 | ) |  | (28,550 | ) |  | (74,138 | )
Present value of lease liabilities | $ | 411,912 |  |  | $ | 163,704 |  |  | $ | 575,616 |
(1) Excludes $28.2 million of payments related to leases signed but not yet commenced. Additionally, certain leases signed but not yet commenced contain residual value guarantees and purchase options not deemed probable.
Schedule of Future Minimum Lease Payments under Non-Cancelable Operating Leases | As disclosed in the Company’s Form 10-K for the fiscal year ended August 31, 2019, the future minimum lease payments of non-cancelable operating leases prior to the adoption of ASU 2016-02 were as follows (in thousands):
Fiscal Year Ending August 31, | Amount
2020 | $ | 118,312 |
2021 | 102,915 |
2022 | 84,729 |
2023 | 63,206 |
2024 | 51,091 |
Thereafter | 182,932 |
Total minimum lease payments | $ | 603,185 |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance 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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- 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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- Definition Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=77902758&loc=d3e41502-112717 + Details
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