Annual report pursuant to Section 13 and 15(d)

Leases, Codification Topic 840 (Tables)

v3.20.2
Leases, Codification Topic 840 (Tables)
 12 Months Ended
Aug. 31, 2020
Leases [Abstract]  
Lease, Cost
The components of lease expense for the year ended August 31, 2020 were as follows (in thousands):
Year Ended August 31, 2020
Lease Cost:
Operating lease cost $ 15,713 
Short-term lease cost 1,508 
Variable lease cost 2,244 
Supplemental Cash Flow Information Related to Leases
Supplemental cash flow and other information related to leases were as follows (in thousands):
Year Ended August 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases $ 15,768 
Right-of-use assets obtained in exchange for new lease liabilities:
Operating leases 5,727 
Supplemental Balance Sheet Information Related to Leases
Supplemental balance sheet information related to leases were as follows (in thousands):
August 31, 2020
Operating leases:
Other long-term assets $ 48,733 
Other current liabilities 11,870 
Other long-term liabilities 38,079 
Total operating lease liabilities $ 49,949 
Weighted Average Remaining Lease Term (in years):
Operating leases 7.6 years
Weighted Average Discount Rate:
Operating leases 4.4  %
Lessee, Operating Lease, Liability, Maturity
A summary of the future minimum lease payments due under operating leases with terms of more than one year at August 31, 2020 is as follows (in thousands):
Operating Leases
2021 $ 13,640 
2022 9,798 
2023 7,671 
2024 6,161 
2025 4,650 
Thereafter 17,290 
Total minimum lease payments 59,210 
Less imputed interest (9,261)
Present value of net minimum lease payments $ 49,949 
As of August 31, 2020, we have an additional operating lease of $1.6 million, for real estate, that has not yet commenced and therefore is not reflected on the consolidated balance sheet nor in the tables above. This operating lease commences in the year ending August 31, 2021 with a lease term of 5 years.
A summary of the future minimum lease payments due under operating leases with terms of more than one year at August 31, 2019 is as follows (in thousands):
Operating Leases
2020 $ 15,792 
2021 12,266 
2022 10,111 
2023 6,865 
2024 5,177 
Thereafter 21,620 
Present value of net minimum lease payments $ 71,831