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Restructuring Costs

6 Months Ended

Feb. 27, 2021

Restructuring Costs [Abstract]

Restructuring Costs

Note 9. Restructuring Costs

Enhanced Customer Support Model

In the second quarter of fiscal year 2021, the Company announced an enhanced customer support model, including a transition from the branch office network to virtual customer care hubs. Along with this transition, the Company closed 73 branch offices and realigned certain existing locations from branch offices to regional inventory centers. Restructuring costs for the thirteen- week period ended February 27, 2021 consist of impairment charges for operating lease assets, associate severance and separation costs, and other exit-related costs.

Optimization of Company Operations

Beginning in fiscal year 2019, the Company identified opportunities for improvements in its workforce realignment, strategy, and staffing, and increased its focus on performance management, to ensure it has the right skillsets and number of associates to execute its long-term vision. Beginning in the second quarter of fiscal year 2020, the Company engaged consultants to assist in reviewing the optimization of the Company’s operations. As such, the Company extended voluntary and involuntary severance and separation benefits to certain associates in fiscal years 2019, 2020 and 2021 in order to facilitate its workforce realignment. This project is expected to continue through fiscal year 2021.

The following table summarizes restructuring costs for both projects listed above:

	Thirteen Weeks Ended							Twenty-Six Weeks Ended
	February 27,			February 29,				February 27,			February 29,
	2021			2020				2021			2020
Operating lease asset impairments	$	16,736		$	-			$	16,736		$	-
Other exit-related costs		845			-				845			-
Consulting-related costs		1,270			2,132				3,790			2,132
Associate severance and separation costs		2,568			(194)				3,980			2,290
Equity acceleration costs associated with severance		196			3				243			90
Total restructuring costs	$	21,615		$	1,941			$	25,594		$	4,512

Liabilities associated with restructuring are included within Accrued expenses and other current liabilities on the unaudited Condensed Consolidated Balance Sheet as of February 27, 2021. The following table summarizes activity related to liabilities associated with restructuring:

		Consulting-Related Costs			Associate severance and separation Costs			Total
Balance at August 29, 2020		$	4,063		$	6,927		$	10,990
Additions			3,790			3,326			7,116
Payments and other adjustments			(7,210)			(7,718)			(14,928)
Balance at February 27, 2021		$	643		$	2,535		$	3,178

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- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-URI http://asc.fasb.org/topic&trid=2175745

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