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Leases (Tables)

6 Months Ended

Feb. 27, 2021

Leases [Abstract]

Components Of Lease Expense


		Thirteen Weeks Ended			Thirteen Weeks Ended
		February 27, 2021			February 29, 2020
Operating lease cost		$	6,182		$	6,188
Variable lease benefit			(538)			(51)
Short-term lease cost			244			220
Finance lease cost:
Amortization of leased assets			322			311
Interest on leased liabilities			21			30
Total Lease Cost		$	6,231		$	6,698


		Twenty-Six Weeks Ended			Twenty-Six Weeks Ended
		February 27, 2021			February 29, 2020
Operating lease cost		$	12,866		$	12,360
Variable lease benefit			(1,021)			(91)
Short-term lease cost			403			484
Finance lease cost:
Amortization of leased assets			644			573
Interest on leased liabilities			45			55
Total Lease Cost		$	12,937		$	13,381

Supplemental Balance Sheet Information


		As of				As of
		February 27,			August 29,
	Classification	2021				2020
Assets
Operating lease assets	Operating lease assets	$	41,758	⁽²⁾	$	56,173
Finance lease assets⁽¹⁾	Property, plant and equipment, net		2,981			3,625
Total leased assets		$	44,739		$	59,798
Liabilities
Current
Operating	Current portion of operating lease liabilities	$	19,956		$	21,815
Finance	Current portion of debt including obligations under finance leases		1,280			1,262
Noncurrent
Operating	Noncurrent operating lease liabilities		37,640			34,379
Finance	Long-term debt including obligations under finance leases		1,793			2,453
Total lease liabilities		$	60,669		$	59,909

⁽¹⁾Finance lease assets are net of accumulated amortization of $2,083 and $1,439 as of February 27, 2021 and August 29, 2020, respectively.
⁽²⁾During the twenty-six-week period ended February 27, 2021, the Company recorded an impairment charge of $16,736 for impacted operating lease assets which is included in Restructuring costs on the unaudited Condensed Consolidated Statements of Income for the thirteen-and twenty-six weeks ended February 27, 2021. See Note 9 “Restructuring Costs” for additional information.


		As of			As of
		February 27,			February 29,
		2021			2020
Weighted-average remaining lease term (in years)
Operating Leases		4.7			4.0
Finance Leases		2.5			3.4
Weighted-average discount rate
Operating Leases		3.7	%		3.5	%
Finance Leases		2.7	%		2.6	%

Supplemental Cash Flow Information


		Twenty-Six Weeks Ended			Twenty-Six Weeks Ended
		February 27, 2021			February 29, 2020
Operating Cash Outflows from Operating Leases		$	12,785		$	12,188
Operating Cash Outflows from Finance Leases			45			55
Financing Cash Outflows from Finance Leases			642			504
Leased assets obtained in exchange for new lease liabilities:
Operating Leases		$	9,670		$	9,817
Finance Leases			-			1,973

Schedule Of Future Lease Payments


Fiscal Year ⁽¹⁾		Operating Leases			Finance Leases			Total
2021 (excluding six months)		$	11,778		$	687		$	12,465
2022			16,970			1,344			18,314
2023			10,403			1,018			11,421
2024			7,187			152			7,339
2025			4,940			3			4,943
Thereafter			11,584			-			11,584
Total Lease Payments			62,862			3,204			66,066
Less: Imputed Interest			5,266			131			5,397
Present Value of Lease Liabilities ⁽²⁾		$	57,596		$	3,073		$	60,669

⁽¹⁾ Future lease payments by fiscal year are based on contractual lease obligations
⁽²⁾ Includes the current portion of $19,956 for operating leases and $1,280 for finance leases