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Pension and Savings Plans (Tables) | 12 Months Ended
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Aug. 26, 2017
Retirement Benefits [Abstract] |
Weighted Average Asset Allocation for Pension Plan Assets | The fair values of investments by level and asset category and the weighted-average asset allocations of the Company’s pension plans at the measurement date are presented in the following table:
August 26, 2017 |
|  | Fair |  |  | Asset Allocation |  |  |  |  | Fair Value Hierarchy |
(in thousands) |  | Value |  |  | Actual |  |  | Target |  |  |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
U.S. equities |  | $ | 50,125 |  |  |  | 15.8 | % |  |  | 17.0 | % |  |  |  | $ | — |  |  | $ | 50,125 |  |  | $ | — |
International equities |  |  | 33,696 |  |  |  | 10.7 |  |  |  | 11.0 |  |  |  |  |  | — |  |  |  | 33,696 |  |  |  | — |
Emerging equities |  |  | 19,027 |  |  |  | 6.0 |  |  |  | 6.0 |  |  |  |  |  | — |  |  |  | 19,027 |  |  |  | — |
High yield securities |  |  | 17,063 |  |  |  | 5.4 |  |  |  | 6.0 |  |  |  |  |  | — |  |  |  | 17,063 |  |  |  | — |
Alternative investments |  |  | — |  |  |  | — |  |  |  | — |  |  |  |  |  | — |  |  |  | — |  |  |  | — |
Fixed income securities |  |  | 178,650 |  |  |  | 56.5 |  |  |  | 60.0 |  |  |  |  |  | — |  |  |  | 178,650 |  |  |  | — |
Cash and cash equivalents |  |  | 17,706 |  |  |  | 5.6 |  |  |  | — |  |  |  |  |  | — |  |  |  | 17,706 |  |  |  | — |
|  | $ | 316,267 |  |  |  | 100.0 | % |  |  | 100.0 | % |  |  |  | $ | — |  |  | $ | 316,267 |  |  | $ | — |
August 27, 2016 |
|  | Fair |  |  | Asset Allocation |  |  |  |  | Fair Value Hierarchy |
(in thousands) |  | Value |  |  | Actual |  |  | Target |  |  |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
U.S. equities |  | $ | 66,008 |  |  |  | 22.9 | % |  |  | 26.0 | % |  |  |  | $ | — |  |  | $ | 66,008 |  |  | $ | — |
International equities |  |  | 42,023 |  |  |  | 14.5 |  |  |  | 17.0 |  |  |  |  |  | — |  |  |  | 42,023 |  |  |  | — |
Emerging equities |  |  | 22,848 |  |  |  | 7.9 |  |  |  | 8.5 |  |  |  |  |  | — |  |  |  | 22,848 |  |  |  | — |
High yield securities |  |  | 21,445 |  |  |  | 7.4 |  |  |  | 8.5 |  |  |  |  |  | — |  |  |  | 21,445 |  |  |  | — |
Alternative investments |  |  | — |  |  |  | — |  |  |  | — |  |  |  |  |  | — |  |  |  | — |  |  |  | — |
Fixed income securities |  |  | 99,336 |  |  |  | 34.3 |  |  |  | 40.0 |  |  |  |  |  | — |  |  |  | 99,336 |  |  |  | — |
Cash and cash equivalents |  |  | 37,726 |  |  |  | 13.0 |  |  |  | — |  |  |  |  |  | — |  |  |  | 37,726 |  |  |  | — |
|  | $ | 289,386 |  |  |  | 100.0 | % |  |  | 100.0 | % |  |  |  | $ | — |  |  | $ | 289,386 |  |  | $ | — |
Plan's Funded Status and Amounts Recognized in Company's Consolidated Balance Sheets | The following table sets forth the plans’ funded status and amounts recognized in the Company’s Consolidated Balance Sheets:
(in thousands) |  | August 26, 2017 |  |  | August 27, 2016 |
Change in Projected Benefit Obligation: |  |  |  |  |  |  |  |
Projected benefit obligation at beginning of year |  | $ | 328,511 |  |  | $ | 296,123 |
Interest cost |  |  | 10,335 |  |  |  | 11,272 |
Actuarial (gains) losses |  |  | (8,746 | ) |  |  | 39,842 |
Benefits paid |  |  | (15,376 | ) |  |  | (18,726 | )
Benefit obligations at end of year |  | $ | 314,724 |  |  | $ | 328,511 |
Change in Plan Assets: |  |  |  |  |  |  |  |
Fair value of plan assets at beginning of year |  | $ | 289,386 |  |  | $ | 238,755 |
Actual return on plan assets |  |  | 24,496 |  |  |  | 16,636 |
Employer contributions |  |  | 17,761 |  |  |  | 52,721 |
Benefits paid |  |  | (15,376 | ) |  |  | (18,726 | )
Fair value of plan assets at end of year |  | $ | 316,267 |  |  | $ | 289,386 |
Amount Recognized in the Statement of Financial Position: |  |  |  |  |  |  |  |
Current liabilities |  | $ | (283 | ) |  | $ | (276 | )
Long-term assets |  |  | 8,686 |  |  |  | — |
Long-term liabilities |  |  | (6,860 | ) |  |  | (38,849 | )
Net amount recognized |  | $ | 1,543 |  |  | $ | (39,125 | )
Amount Recognized in Accumulated Other Comprehensive Loss and not yet reflected in Net Periodic Benefit Cost: |  |  |  |  |  |  |  |
Net actuarial loss |  | $ | (118,889 | ) |  | $ | (145,948 | )
Accumulated other comprehensive loss |  | $ | (118,889 | ) |  | $ | (145,948 | )
Amount Recognized in Accumulated Other Comprehensive Loss and not yet reflected in Net Periodic Benefit Cost and expected to be amortized in next year’s Net Periodic Benefit Cost: |  |  |  |  |  |  |  |
Net actuarial loss |  | $ | (10,736 | ) |  | $ | (13,874 | )
Amount recognized |  | $ | (10,736 | ) |  | $ | (13,874 | )
Net Periodic Benefit Expense | Net periodic benefit expense consisted of the following:
|  | Year Ended |
(in thousands) |  | August 26, 2017 |  |  | August 27, 2016 |  |  | August 29, 2015 |
Interest cost |  | $ | 10,335 |  |  | $ | 11,272 |  |  | $ | 12,338 |
Expected return on plan assets |  |  | (20,056 | ) |  |  | (16,512 | ) |  |  | (16,281 | )
Recognized net actuarial losses |  |  | 13,873 |  |  |  | 10,506 |  |  |  | 8,941 |
Net periodic benefit expense |  | $ | 4,152 |  |  | $ | 5,266 |  |  | $ | 4,998 |
Actuarial Assumptions Used in Determining Projected Benefit Obligation | The blended actuarial assumptions used in determining the projected benefit obligation include the following:
|  | Year Ended |
|  | August 26, 2017 |  |  | August 27, 2016 |  |  | August 29, 2015 |
Discount rate to determine benefit obligation |  |  | 3.86 | % |  |  | 3.72 | % |  |  | 4.50 | %
Discount rate to determine net interest cost |  |  | 3.21 | % |  |  | 3.90 | % |  |  | 4.28 | %
Expected long-term rate of return on plan assets |  |  | 7.00 | % |  |  | 7.00 | % |  |  | 7.00 | %
Benefit Payments are Expected to be Paid as Follows | Based on current assumptions about future events, benefit payments are expected to be paid as follows for each of the following fiscal years. Actual benefit payments may vary significantly from the following estimates:
(in thousands) |  | Benefit Payments |
2018 |  | $ | 13,608 |
2019 |  |  | 13,139 |
2020 |  |  | 13,817 |
2021 |  |  | 14,538 |
2022 |  |  | 14,917 |
2023 – 2027 |  |  | 79,742 |

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- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e2439-114920 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e2417-114920 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e2410-114920 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=77993564&loc=d3e4179-114921 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920 + Details
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