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Leases
9 Months Ended
May 31, 2024
Leases [Abstract]  
Leases Leases
Right-of-use assets and lease liabilities consisted of the following (in thousands):
May 31,
2024
August 31,
2023
Assets:
Operating lease right-of-use assets$7,960 $7,820 
Finance lease right-of-use asset3,630 
Total right-of-use assets$11,590 $7,820 
Liabilities:
Current operating lease liabilities(1)
$1,997 $2,144 
Long-term operating lease liabilities6,072 5,832 
Total operating lease liabilities$8,069 $7,976 
(1) Current operating lease liabilities are classified in accrued liabilities on the Company’s condensed consolidated balance sheets.
During the nine months ended May 31, 2024, the Company entered into a finance lease for a blending facility (the “Finance Lease”). As of August 31, 2023, the Company had $3.8 million of prepaid deposits, which converted to a right-of-use asset at the commencement of the Finance Lease during the nine months ended May 31, 2024. Since the Finance Lease was fully prepaid at commencement, no lease liability exists related to it
Leases Leases
Right-of-use assets and lease liabilities consisted of the following (in thousands):
May 31,
2024
August 31,
2023
Assets:
Operating lease right-of-use assets$7,960 $7,820 
Finance lease right-of-use asset3,630 
Total right-of-use assets$11,590 $7,820 
Liabilities:
Current operating lease liabilities(1)
$1,997 $2,144 
Long-term operating lease liabilities6,072 5,832 
Total operating lease liabilities$8,069 $7,976 
(1) Current operating lease liabilities are classified in accrued liabilities on the Company’s condensed consolidated balance sheets.
During the nine months ended May 31, 2024, the Company entered into a finance lease for a blending facility (the “Finance Lease”). As of August 31, 2023, the Company had $3.8 million of prepaid deposits, which converted to a right-of-use asset at the commencement of the Finance Lease during the nine months ended May 31, 2024. Since the Finance Lease was fully prepaid at commencement, no lease liability exists related to it