Leases (Tables)

6 Months Ended

Feb. 29, 2020

Lease expense is recognized on a straight-line basis over the lease term. The components of lease expense recognized in our Condensed Consolidated Statements of Operations are as follows:



	Three Months Ended February 29, 2020		Six Months Ended February 29, 2020
	(Dollars in thousands)
Operating lease expense	$	20,538	$	36,098
Finance lease expense:
Amortization of assets	1,073		3,262
Interest on lease liabilities	261		485
Short-term lease expense	6,317		9,660
Variable lease expense	710		913
Total net lease expense*	$	28,899	$	50,418

*Income related to sub-lease activity is not material and has been excluded from the table above.

Lease Balance Sheet disclosure [Table Text Block]

Supplemental balance sheet information related to operating and finance leases is as follows:



	Balance Sheet Location	February 29, 2020
		(Dollars in thousands)
Operating leases
Assets
Operating lease right of use assets	Other assets	$	255,764
Liabilities
Current operating lease liabilities	Accrued expenses	55,436
Long-term operating lease liabilities	Other liabilities	201,646
Total operating lease liabilities		$	257,082

Finance leases
Assets
Finance lease assets	Property, plant and equipment	$	41,973
Liabilities
Current finance lease liabilities	Current portion of long-term debt	6,136
Long-term finance lease liabilities	Long-term debt	22,208
Total finance lease liabilities		$	28,344

Weighted average remaining lease term (in years)
Operating leases		8.3
Finance leases		6.7

Weighted average discount rate
Operating leases		3.14		%
Finance leases		3.34		%

Lease Cash flow and other information disclosure [Table Text Block]

Supplemental cash flow and other information related to operating and finance leases are as follows:



	Six Months Ended February 29, 2020
	(Dollars in thousands)
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows from operating leases	$	28,368
Operating cash flows from finance leases	485
Financing cash flows from finance leases	3,285
Supplemental noncash information:
Right of use assets obtained in exchange for lease liabilities	18,162
Right of use asset modifications	3,967

Lease liability maturity [Table Text Block]

Maturities of lease liabilities as of February 29, 2020, were as follows:



	February 29, 2020
	Finance Leases		Operating Leases
	(Dollars in thousands)
Remainder of fiscal 2020	$	3,262	$	31,933
Fiscal 2021	6,501		56,299
Fiscal 2022	5,356		43,066
Fiscal 2023	4,763		33,849
Fiscal 2024	2,800		26,747
After fiscal 2024	7,368		106,739
Total maturities of lease liabilities	30,050		298,633
Less amounts representing interest	1,706		41,551
Present value of future minimum lease payments	28,344		257,082
Less current obligations	6,136		55,436
Long-term obligations	$	22,208	$	201,646

Schedule of future minimum payments for capital and operating leases [Table Text Block]

Minimum future lease payments required under noncancelable capital and operating leases as of August 31, 2019, were as follows:



	August 31, 2019
	Capital Leases		Operating Leases
	(Dollars in thousands)
Fiscal 2020	$	6,761	$	87,168
Fiscal 2021	6,199		57,381
Fiscal 2022	5,021		43,665
Fiscal 2023	4,548		34,328
Fiscal 2024	2,638		26,793
Thereafter	6,517		92,653
Total minimum future lease payments	31,684		$	341,988
Less amount representing interest	3,445
Present value of net minimum lease payments	$	28,239