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Leases (Tables) | 9 Months Ended
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May 31, 2020
Leases [Abstract] |
Schedule of Lease Cost and Other Information Related to Company's Operating Leases | Lease cost and other information related to the Company’s operating leases are as follows:
($ in thousands) |  | Three months ended May 31, 2020 |  |  | Nine months ended May 31, 2020 |
Operating lease cost (cost resulting from lease payments) |  |  | 1,502 |  |  |  | 4,412 |
Variable lease cost (cost excluded from lease payments) |  |  | 112 |  |  |  | 312 |
Total lease cost |  | $ | 1,614 |  |  | $ | 4,724 |
Operating cash outflows from operating leases |  |  | 1,178 |  |  |  | 3,997 |
Weighted average lease term - operating leases |  | 9.2 years |  |  | 9.2 years |
Weighted average discount rate - operating leases |  |  | 3.2 | % |  |  | 3.2 | %
Supplemental Balance Sheet Information Related to Operating Leases | Supplemental balance sheet information related to operating leases as of the third quarter of 2020 is as follows:
($ in thousands) |  | Classification |  | May 31, 2020 |
Operating lease ROU assets |  | Operating lease right-of-use assets |  | $ | 27,663 |
Operating lease short-term liabilities |  | Other current liabilities |  |  | 5,046 |
Operating lease long-term liabilities |  | Operating lease liabilities |  |  | 26,333 |
Total lease liabilities |  |  |  | $ | 31,379 |
Schedule of Minimum Lease Payments Under Operating Leases | The minimum lease payments under operating leases expiring subsequent to May 31, 2020 are as follows:
Fiscal year ending |  | $ in thousands |
2020 |  | $ | 1,748 |
2021 |  |  | 5,798 |
2022 |  |  | 5,465 |
2023 |  |  | 3,771 |
2024 |  |  | 3,397 |
Thereafter |  |  | 16,784 |
Total lease payments |  |  | 36,963 |
Less: interest |  |  | 5,584 |
Present value of lease liabilities |  | $ | 31,379 |
Schedule of Future Minimum Lease Payments Under Operating Leases | As previously disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended August 31, 2019 and under the previous lease accounting standard, future minimum lease payments under operating leases with an initial or remaining term in excess of one year at August 31, 2019 would have been as follows:
Fiscal year ending |  | $ in thousands |
2020 |  | $ | 6,065 |
2021 |  |  | 5,266 |
2022 |  |  | 4,771 |
2023 |  |  | 3,414 |
2024 |  |  | 3,107 |
Thereafter |  |  | 20,119 |
Total lease payments |  | $ | 42,742 |

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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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