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LEASES (Tables) | 12 Months Ended
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Aug. 31, 2023
Leases [Abstract] |
Summary of Components of Total Lease Costs | The following table is a summary of the Company’s components of total lease costs for fiscal year 2023 and 2022 (in thousands):
| Years Ended August 31,
2023 |  | 2022
Operating lease cost | $ | 15,753 |  |  | $ | 15,632 |
Short-term lease cost | 162 |  |  | 49 |
Variable lease cost | 5,034 |  |  | 4,376 |
Sublease income | (91) |  |  | (180) |
Total lease costs | $ | 20,858 |  |  | $ | 19,877 |
The weighted average remaining lease term and weighted average discount rate for operating leases as of August 31, 2023 and August 31, 2022 were as follows:
| Years Ended August 31,
| 2023 |  | 2022
Weighted average remaining lease term in years | 17.8 |  | 18.3
Weighted average discount rate percentage | 6.8 | % |  | 6.7 | %
Supplemental Cash Flow Information Related To Leases | Supplemental cash flow information related to leases under which the Company is the lessee was as follows (amounts in thousands):
| Years Ended August 31,
| 2023 |  | 2022
Operating cash flows paid for operating leases | $ | 15,753 |  | $ | 14,885
Schedule of Future Minimum Lease Commitments | The present value of estimated future minimum lease commitments for this lease are as follows (in thousands):
Years Ended August 31, |  | Amount
2024 |  | $ | — |
2025 |  | 276 |
2026 |  | 1,604 |
2027 |  | 1,558 |
2028 |  | 1,513 |
Thereafter |  | 20,013 |
Total future lease payments |  | $ | 24,964 |
The Company is committed under non-cancelable operating leases for the rental of facilities and land. Future minimum lease commitments for facilities under these leases with an initial term in excess of one year are as follows (in thousands):
Years Ended August 31, |  | Leased Locations
2024 |  | $ | 15,502
2025 |  | 15,244
2026 |  | 13,711
2027 |  | 11,520
2028 |  | 11,028
Thereafter |  | 166,398
Total future lease payments |  | 233,403
Less imputed interest |  | (103,587) |
Total operating lease liabilities |  | $ | 129,816

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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 -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
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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 -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
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