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Basis Of Presentation (Policy) | 3 Months Ended
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Nov. 27, 2021
Basis Of Presentation [Abstract] |
Fiscal Year | Fiscal Year The Company operates on a 52/53-week fiscal year ending on the Saturday closest to August 31st of each year. References to “fiscal year 2022” refer to the period from August 29, 2021 to September 3, 2022, which is a 53-week fiscal year. References to “fiscal year 2021” refer to the period from August 30, 2020 to August 28, 2021, which is a 52-week fiscal year. The fiscal quarters ended November 27, 2021 and November 28, 2020 refer to the thirteen weeks ended as of those dates.
Principles Of Consolidation | Principles of Consolidation The unaudited Condensed Consolidated Financial Statements include the accounts of MSC Industrial Direct Co., Inc., its wholly owned subsidiaries and entities in which it maintains a controlling financial interest. All significant intercompany balances and transactions have been eliminated in consolidation.
Impact Of COVID-19 | Impact of COVID-19 The COVID-19 pandemic has impacted and may further impact the Company’s operations and the operations of the Company’s suppliers, vendors, and freight carriers as a result of quarantines, travel restrictions, facility closures and safety directives. Although certain restrictions implemented earlier in the pandemic have been lifted and economic and operating conditions have improved since the early months of the pandemic, the pandemic continues to impact the Company’s operations and supply chain. Concurrently with the partial lifting of pandemic-related restrictions, the United States has experienced disruptions in the supply of certain products and services. These disruptions have affected the price and, at times, the availability of certain products and services necessary for the Company’s operations, including fuel, labor and certain products the Company sells or the inputs for such products. These disruptions are also impacting our customers and their ability to conduct their business or purchase our products and services. Such disruptions have impacted, and may continue to impact in the future, the Company’s business, financial condition and results of operations. In September 2021, the Federal government issued an executive order requiring federal contractors to require their employees be vaccinated against COVID-19 (the “Contractor Mandate”). In November 2021, the U.S. Department of Labor’s Occupational Safety and Health Administration promulgated a rule requiring employers with at least 100 employees to require that their employees be vaccinated against COVID-19 or be tested weekly (the “Large Employer Mandate”). The legality and enforceability of both the Contractor Mandate and the Large Employer Mandate have been challenged in federal court and are subject to ongoing litigation. At various times, both the Contractor Mandate and the Large Employer Mandate have been subject to injunctions preventing their implementation and enforceability. At this time, it is not possible to predict with certainty whether the Contractor Mandate and Large Employer Mandate will be implemented at all or, if implemented, how they would affect us or our workforce. Both the Contractor Mandate and the Large Employer Mandate, if implemented and applied to the Company, may result in employee attrition, which could materially adversely affect future revenues and costs, and have a material adverse effect on our business and results of operations. The extent to which the COVID-19 pandemic, including new variants of COVID-19, will continue to impact the Company’s business, financial condition and results of operations will depend on future developments, which are highly uncertain and depend on, among other things, the duration, spread, severity and impact of the COVID-19 pandemic, including emerging virus variants, the success and speed of ongoing vaccination efforts and efficacy of vaccines over time, the effects of the COVID-19 pandemic on the Company’s customers, suppliers and vendors and the remedial actions and stimulus measures adopted by local and federal governments. Therefore, the Company cannot reasonably estimate future impacts of the COVID-19 pandemic at this time.
Accounting Pronouncements Not Yet Adopted | Accounting Pronouncements Not Yet Adopted In March 2020, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides temporary optional expedients and exceptions to accounting guidance on contract modifications and hedge accounting to ease entities financial reporting burdens as the market transitions from LIBOR and other interbank offered rates to alternative reference rates. The guidance was effective upon issuance and may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. Other pronouncements issued by the FASB or other authoritative accounting standards groups with future effective dates are either not applicable or are not expected to have a material impact on the Company’s unaudited Condensed Consolidated Financial Statements.
Reclassifications | ReclassificationsCertain prior period Operating expenses were reclassified into Restructuring costs within the Company’s unaudited Condensed Consolidated Statements of Income to conform to the current period presentation. These reclassifications did not affect income from operations in any period presented.

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