XML 65 R40.htm IDEA: XBRL DOCUMENT
v3.24.3

LEASES (Tables) | 12 Months Ended
--- | ---
Aug. 31, 2024
Leases [Abstract] |
Schedule of Balance Sheet Components of Leases | The following table presents the components of the total leased assets and lease liabilities and their classification in the Company's consolidated balance sheets:
(in thousands) |  | Classification in Consolidated Balance Sheets |  | August 31, 2024 |  | August 31, 2023
Assets: |  |  |  |  |  |
Operating assets |  | Other noncurrent assets |  | $ | 178,006 |  |  | $ | 160,767 |
Finance assets |  | Property, plant and equipment, net |  | 160,361 |  |  | 104,537 |
Total leased assets |  |  |  | $ | 338,367 |  |  | $ | 265,304 |
Liabilities: |  |  |  |  |  |
Operating lease liabilities: |  |  |  |  |  |
Current |  | Accrued expenses and other payables |  | $ | 36,675 |  |  | $ | 34,445 |
Long-term |  | Other noncurrent liabilities |  | 140,109 |  |  | 129,800 |
Total operating lease liabilities |  |  |  | 176,784 |  |  | 164,245 |
Finance lease liabilities: |  |  |  |  |  |
Current |  | Current maturities of long-term debt and short-term borrowings |  | 36,985 |  |  | 28,037 |
Long-term |  | Long-term debt |  | 104,286 |  |  | 67,433 |
Total finance lease liabilities |  |  |  | 141,271 |  |  | 95,470 |
Total lease liabilities |  |  |  | $ | 318,055 |  |  | $ | 259,715 |
Lease Cost | The components of lease cost were as follows:
|  | Year Ended August 31,
(in thousands) |  | 2024 |  | 2023 |  | 2022
Operating lease expense |  | $ | 46,515 |  |  | $ | 40,093 |  |  | $ | 35,111 |
Finance lease expense: |  |  |  |  |  |
Amortization of assets |  | 23,825 |  |  | 16,574 |  |  | 13,302 |
Interest on lease liabilities |  | 5,712 |  |  | 3,642 |  |  | 2,105 |
Total finance lease expense |  | 29,537 |  |  | 20,216 |  |  | 15,407 |
Variable and short-term lease expense |  | 19,481 |  |  | 20,810 |  |  | 20,856 |
Total lease expense |  | $ | 95,533 |  |  | $ | 81,119 |  |  | $ | 71,374 |
The weighted average remaining lease terms and discount rates for operating and finance leases are presented in the following table:
|  | August 31, 2024 |  | August 31, 2023
Weighted average remaining lease term (years): |  |  |  |
Operating leases |  | 6.2 |  | 5.6
Finance leases |  | 4.1 |  | 4.1
Weighted average discount rate: |  |  |  |
Operating leases |  | 4.934 | % |  | 4.730 | %
Finance leases |  | 5.134 | % |  | 4.926 | %
Cash Flow and Other Information Related to Leases | Cash flow and other information related to leases is included in the following table:
|  | Year Ended August 31,
(in thousands) |  | 2024 |  | 2023 |  | 2022
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
Operating cash outflows from operating leases |  | $ | 47,508 |  |  | $ | 40,645 |  |  | $ | 35,697 |
Operating cash outflows from finance leases |  | 5,712 |  |  | 3,642 |  |  | 2,093 |
Financing cash outflows from finance leases |  | 34,508 |  |  | 22,837 |  |  | 17,821 |
ROU assets obtained in exchange for lease obligations: |  |  |  |  |  |
Operating leases |  | $ | 57,746 |  |  | $ | 55,588 |  |  | $ | 59,035 |
Finance leases |  | 79,841 |  |  | 59,499 |  |  | 24,333 |
Maturity of Operating Lease Liabilities | Future maturities of lease liabilities at August 31, 2024 are presented in the following table:
(in thousands) |  | Operating Leases |  | Finance Leases
2025 |  | $ | 44,856 |  |  | $ | 43,376 |
2026 |  | 40,369 |  |  | 36,953 |
2027 |  | 33,391 |  |  | 33,836 |
2028 |  | 24,992 |  |  | 27,198 |
2029 |  | 16,542 |  |  | 12,771 |
Thereafter |  | 49,492 |  |  | 3,264 |
Total lease payments |  | 209,642 |  |  | 157,398 |
Less imputed interest |  | (32,858) |  |  | (16,127) |
Present value of lease liabilities |  | $ | 176,784 |  |  | $ | 141,271 |
Maturity of Finance Lease Liabilities | Future maturities of lease liabilities at August 31, 2024 are presented in the following table:
(in thousands) |  | Operating Leases |  | Finance Leases
2025 |  | $ | 44,856 |  |  | $ | 43,376 |
2026 |  | 40,369 |  |  | 36,953 |
2027 |  | 33,391 |  |  | 33,836 |
2028 |  | 24,992 |  |  | 27,198 |
2029 |  | 16,542 |  |  | 12,771 |
Thereafter |  | 49,492 |  |  | 3,264 |
Total lease payments |  | 209,642 |  |  | 157,398 |
Less imputed interest |  | (32,858) |  |  | (16,127) |
Present value of lease liabilities |  | $ | 176,784 |  |  | $ | 141,271 |

X
- Definition Cash Flow and Other Information Related to Leases + References No definition available. + Details
Name: | cmc_CashFlowAndOtherInformationRelatedToLeasesTableTextBlock
Namespace Prefix: | cmc_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of Balance Sheet Components of Leases + References No definition available. + Details
Name: | cmc_ScheduleOfBalanceSheetComponentsOfLeasesTableTextBlock
Namespace Prefix: | cmc_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + Details
Name: | us-gaap_FinanceLeaseLiabilityMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-4 + Details
Name: | us-gaap_LeaseCostTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + Details
Name: | us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration