LEASES (Tables)

12 Months Ended

Aug. 31, 2024

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