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Recent Accounting Pronouncements (Tables) | 6 Months Ended
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Feb. 23, 2019
Accounting Policies [Abstract] |
Schedule of Impact of New Accounting Pronouncements | As a result of applying the modified retrospective method to adopt the new revenue guidance, the adjustments set forth in the table below were made to accounts on the consolidated balance sheet as of August 26, 2018:
Consolidated Balance Sheet (In thousands) |  | August 25, 2018 |  |  | Capitalization of Contract Costs |  |  | August 26, 2018 |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Prepaid expenses and other current assets |  | $ | 21,899 |  |  | $ | 10,789 |  |  | $ | 32,688 |
Total current assets |  |  | 784,800 |  |  |  | 10,789 |  |  |  | 795,589 |
Other assets |  |  | 30,259 |  |  |  | 42,405 |  |  |  | 72,664 |
Total assets |  | $ | 1,843,386 |  |  | $ | 53,194 |  |  | $ | 1,896,580 |
Liabilities and shareholders’ equity |  |  |  |  |  |  |  |  |  |  |  |
Accrued and deferred income taxes |  | $ | 74,070 |  |  | $ | 13,761 |  |  | $ | 87,831 |
Total liabilities |  |  | 378,419 |  |  |  | 13,761 |  |  |  | 392,180 |
Retained earnings |  |  | 1,405,239 |  |  |  | 39,433 |  |  |  | 1,444,672 |
Total shareholders’ equity |  |  | 1,464,967 |  |  |  | 39,433 |  |  |  | 1,504,400 |
Total liabilities and shareholders’ equity |  | $ | 1,843,386 |  |  | $ | 53,194 |  |  | $ | 1,896,580 |
The impacts of adopting this standard on the thirteen and twenty-six weeks ended February 23, 2019 Consolidated Financial Statements are presented in the following tables:
|  | Thirteen weeks ended February 23, 2019 |
Consolidated Statement of Income (In thousands, except per share data) |  | As Reported |  |  | Under Historical Guidance |  |  | Impact of Adopting New Revenue Standard |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |
Selling and administrative expenses |  | $ | 68,321 |  |  | $ | 69,630 |  |  | $ | (1,309 | )
Total operating expenses |  |  | 375,039 |  |  |  | 376,348 |  |  |  | (1,309 | )
Operating income |  |  | 62,446 |  |  |  | 61,137 |  |  |  | 1,309 |
Income before income taxes |  |  | 63,395 |  |  |  | 62,086 |  |  |  | 1,309 |
Provision for income taxes |  |  | 15,789 |  |  |  | 15,463 |  |  |  | 326 |
Net income |  | $ | 47,606 |  |  | $ | 46,623 |  |  | $ | 983 |
Income per share – Diluted: |  | $ | 2.48 |  |  | $ | 2.43 |  |  | $ | 0.05 |
|  | Twenty-six weeks ended February 23, 2019 |
Consolidated Statement of Income (In thousands, except per share data) |  | As Reported |  |  | Under Historical Guidance |  |  | Impact of Adopting New Revenue Standard |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |
Selling and administrative expenses |  | $ | 154,280 |  |  | $ | 156,505 |  |  | $ | (2,225 | )
Total operating expenses |  |  | 763,163 |  |  |  | 765,388 |  |  |  | (2,225 | )
Operating income |  |  | 112,872 |  |  |  | 110,647 |  |  |  | 2,225 |
Income before income taxes |  |  | 115,354 |  |  |  | 113,129 |  |  |  | 2,225 |
Provision for income taxes |  |  | 29,428 |  |  |  | 28,861 |  |  |  | 567 |
Net income |  | $ | 85,926 |  |  | $ | 84,268 |  |  | $ | 1,658 |
Income per share – Diluted: |  | $ | 4.46 |  |  | $ | 4.37 |  |  | $ | 0.09 |
|  | Balance at February 23, 2019 |
Consolidated Balance Sheet (In thousands) |  | As Reported |  |  | Under Historical Guidance |  |  | Impact of Adopting New Revenue Standard |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Prepaid expenses and other current assets |  | $ | 35,195 |  |  | $ | 24,406 |  |  | $ | 10,789 |
Total current assets |  |  | 849,096 |  |  |  | 838,307 |  |  |  | 10,789 |
Other assets |  |  | 75,447 |  |  |  | 30,817 |  |  |  | 44,630 |
Total assets |  | $ | 1,954,106 |  |  | $ | 1,898,687 |  |  | $ | 55,419 |
Liabilities and shareholders’ equity |  |  |  |  |  |  |  |  |  |  |  |
Accrued and deferred income taxes |  | $ | 87,688 |  |  | $ | 73,360 |  |  | $ | 14,328 |
Total liabilities |  |  | 373,316 |  |  |  | 358,988 |  |  |  | 14,328 |
Retained earnings |  |  | 1,520,431 |  |  |  | 1,479,340 |  |  |  | 41,091 |
Total shareholders’ equity |  |  | 1,580,790 |  |  |  | 1,539,699 |  |  |  | 41,091 |
Total liabilities and shareholders’ equity |  | $ | 1,954,106 |  |  | $ | 1,898,687 |  |  | $ | 55,419 |

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