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Lease Commitments (Tables)
12 Months Ended
Aug. 31, 2023
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, 2023, will mature as follows:

 

(In millions)

 

 

 

2024

 

$

73.8

 

2025

 

 

66.2

 

2026

 

 

59.4

 

2027

 

 

52.1

 

2028

 

 

37.6

 

Thereafter

 

 

81.8

 

 

$

370.9

 

 

 

 

 

Components of Operating Lease Costs

The components of operating lease costs were as follows:

 

 

 

Twelve Months Ended August 31,

 

(In millions)

 

2023

 

 

2022

 

 

2021

 

Operating lease expense

 

$

13.6

 

 

$

10.7

 

 

$

13.2

 

Short-term lease expense

 

 

9.3

 

 

 

6.0

 

 

 

5.3

 

Total

 

$

22.9

 

 

$

16.7

 

 

$

18.5

 

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, 2023 will mature as follows:

 

(In millions)

 

 

 

2024

 

$

15.6

 

2025

 

 

12.9

 

2026

 

 

11.6

 

2027

 

 

8.7

 

2028

 

 

7.9

 

Thereafter

 

 

23.3

 

Total lease payments

 

$

80.0

 

Less: Imputed interest

 

 

(7.8

)

Total lease obligations

 

$

72.2

 

 

 

 

 

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

 

10.55 years

 

Weighted average discount rate

 

 

 

Operating leases

 

 

2.5

%

Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases were as follows:

 

(In millions)

 

Twelve months ended August 31, 2023

 

Cash paid for amounts included in the measurement of lease liabilities

 

 

 

Operating cash flows from operating leases

 

$

14.2

 

ROU assets obtained in exchange for new operating lease liabilities

 

$

27.5