Leases |
12 Months Ended |
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Aug. 31, 2017 | |
| Leases [Abstract] | |
| Leases |
Note 10. Leases
The Company leases certain facilities, computers, equipment and vehicles under various lease agreements generally over periods of one to twenty years. Under most arrangements, the Company pays the property taxes, insurance, maintenance and expenses related to the leased property. Many of the leases include provisions that enable the Company to renew the lease based upon fair value rental rates on the date of expiration of the initial lease.
As of August 31, 2017, future obligations under non-cancelable operating leases were as follows: $28.0 million in fiscal 2018; $22.9 million in fiscal 2019; $18.6 million in fiscal 2020; $13.3 million in fiscal 2021; $10.7 million in fiscal 2022; and $12.7 million in aggregate thereafter. Total rental expense under operating leases was $37.4 million, $37.6 million and $35.7 million in fiscal 2017, 2016 and 2015, respectively.
As discussed in Note 16, “Commitments and Contingencies” the Company remains contingently liable for lease payments under leases of businesses that it previously divested or spun off.
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- References No definition available.
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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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