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Lease Commitments (Tables)
12 Months Ended
Aug. 31, 2022
Leases [Abstract]  
Aggregate Minimum Future Amounts Receivable Under All Non-Cancelable Operating Leases and Subleases

Aggregate minimum future amounts receivable under all non-cancelable operating leases and subleases at August 31, 2022, will mature as follows:

 

(In millions)

 

 

 

2023

 

$

46.4

 

2024

 

 

37.7

 

2025

 

 

30.3

 

2026

 

 

26.6

 

2027

 

 

22.8

 

Thereafter

 

 

51.2

 

 

 

$

215.0

 

 

 

 

 

Components of Operating Lease Costs

The components of operating lease costs were as follows:

 

 

 

Twelve Months Ended August 31,

 

(In millions)

 

2022

 

 

2021

 

 

2020

 

Operating lease expense

 

$

10.7

 

 

$

13.2

 

 

$

15.3

 

Short-term lease expense

 

 

6.0

 

 

 

5.3

 

 

 

8.3

 

Total

 

$

16.7

 

 

$

18.5

 

 

$

23.6

 

Aggregate Minimum Future Amounts Payable Under Operating Leases

Aggregate minimum future amounts payable under operating leases having initial or remaining non-cancelable terms at August 31, 2022 will mature as follows:

 

(In millions)

 

 

 

2023

 

$

12.9

 

2024

 

 

11.1

 

2025

 

 

8.4

 

2026

 

 

7.3

 

2027

 

 

4.6

 

Thereafter

 

 

17.4

 

Total lease payments

 

$

61.7

 

Less: Imputed interest

 

 

(5.3

)

Total lease obligations

 

$

56.4

 

 

 

 

 

Additional Information Related to Company's Leases

The table below presents additional information related to the Company’s leases:

 

Weighted average remaining lease term

 

 

 

Operating leases

 

11.4 years

 

Weighted average discount rate

 

 

 

Operating leases

 

 

2.3

%

Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases were as follows:

 

(In millions)

 

Twelve months ended August 31, 2022

 

Cash paid for amounts included in the measurement of lease liabilities

 

 

 

Operating cash flows from operating leases

 

$

11.4

 

ROU assets obtained in exchange for new operating lease liabilities

 

$

24.7

 

ROU assets disposed of for lease terminations

 

$