XML 56 R40.htm IDEA: XBRL DOCUMENT
v3.24.3

Segment Reporting (Tables) | 12 Months Ended
--- | ---
Aug. 31, 2024
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information | The Company refers to the U.S. and Canadian Rental and Cleaning, MFG, and Corporate reporting segments combined as its “Core Laundry Operations,” which is included as a subtotal in the following tables (in thousands):
|  | Year ended |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Revenues: |  |  |  |  |  |  |  |  |
U.S. and Canadian Rental and Cleaning |  | $ | 2,083,059 |  |  | $ | 1,907,765 |  |  | $ | 1,733,088 |
MFG |  |  | 315,159 |  |  |  | 297,752 |  |  |  | 281,112 |
Net intercompany MFG elimination |  |  | (315,159 | ) |  |  | (297,752 | ) |  |  | (281,112 | )
Corporate |  |  | 55,889 |  |  |  | 53,424 |  |  |  | 37,414 |
Subtotal: Core Laundry Operations |  |  | 2,138,948 |  |  |  | 1,961,189 |  |  |  | 1,770,502 |
Specialty Garments |  |  | 182,212 |  |  |  | 177,034 |  |  |  | 152,885 |
First Aid |  |  | 106,271 |  |  |  | 94,824 |  |  |  | 77,435 |
Total consolidated revenues |  | $ | 2,427,431 |  |  | $ | 2,233,047 |  |  | $ | 2,000,822 |
Operating income (loss): |  |  |  |  |  |  |  |  |
U.S. and Canadian Rental and Cleaning |  | $ | 331,031 |  |  | $ | 293,171 |  |  | $ | 289,018 |
MFG |  |  | 95,072 |  |  |  | 88,292 |  |  |  | 64,884 |
Net intercompany MFG elimination |  |  | (9,707 | ) |  |  | (16,717 | ) |  |  | 236 |
Corporate |  |  | (272,962 | ) |  |  | (266,080 | ) |  |  | (243,428 | )
Subtotal: Core Laundry Operations |  |  | 143,434 |  |  |  | 98,666 |  |  |  | 110,710 |
Specialty Garments |  |  | 41,976 |  |  |  | 37,488 |  |  |  | 23,658 |
First Aid |  |  | (1,832 | ) |  |  | (2,551 | ) |  |  | (17 | )
Total consolidated operating income |  | $ | 183,578 |  |  | $ | 133,603 |  |  | $ | 134,351 |
Other (income) expense: |  |  |  |  |  |  |  |  |
Interest income, net |  | $ | (7,242 | ) |  | $ | (6,738 | ) |  | $ | (2,851 | )
Other expense, net |  |  | 1,441 |  |  |  | 1,504 |  |  |  | 2,877 |
Total consolidated other (income) expense, net |  | $ | (5,801 | ) |  | $ | (5,234 | ) |  | $ | 26 |
Total consolidated income before income taxes |  | $ | 189,379 |  |  | $ | 138,837 |  |  | $ | 134,325 |
Depreciation and amortization: |  |  |  |  |  |  |  |  |
U.S. and Canadian Rental and Cleaning |  | $ | 105,525 |  |  | $ | 86,887 |  |  | $ | 75,876 |
MFG |  |  | 1,996 |  |  |  | 2,135 |  |  |  | 2,251 |
Net intercompany MFG elimination |  |  | — |  |  |  | — |  |  |  | — |
Corporate |  |  | 26,070 |  |  |  | 25,255 |  |  |  | 24,075 |
Subtotal: Core Laundry Operations |  |  | 133,591 |  |  |  | 114,277 |  |  |  | 102,202 |
Specialty Garments |  |  | 4,398 |  |  |  | 4,020 |  |  |  | 4,097 |
First Aid |  |  | 3,443 |  |  |  | 2,936 |  |  |  | 2,478 |
Total consolidated depreciation and amortization |  | $ | 141,432 |  |  | $ | 121,233 |  |  | $ | 108,777 |
Capital Expenditures: |  |  |  |  |  |  |  |  |
U.S. and Canadian Rental and Cleaning |  | $ | 144,807 |  |  | $ | 159,058 |  |  | $ | 135,725 |
MFG |  |  | 547 |  |  |  | 78 |  |  |  | 255 |
Net intercompany MFG elimination |  |  | — |  |  |  | — |  |  |  | — |
Corporate |  |  | — |  |  |  | — |  |  |  | — |
Subtotal: Core Laundry Operations |  |  | 145,354 |  |  |  | 159,136 |  |  |  | 135,980 |
Specialty Garments |  |  | 11,894 |  |  |  | 8,818 |  |  |  | 7,122 |
First Aid |  |  | 3,169 |  |  |  | 4,037 |  |  |  | 1,217 |
Total consolidated capital expenditures |  | $ | 160,417 |  |  | $ | 171,991 |  |  | $ | 144,319 |
Total Assets: |  |  |  |  |  |  |  |  |
U.S. and Canadian Rental and Cleaning |  | $ | 2,468,973 |  |  | $ | 2,347,895 |  |  | $ | 2,206,608 |
MFG |  |  | 32,075 |  |  |  | 34,655 |  |  |  | 35,748 |
Net intercompany MFG elimination |  |  | — |  |  |  | — |  |  |  | — |
Corporate |  |  | — |  |  |  | — |  |  |  | — |
Subtotal: Core Laundry Operations |  |  | 2,501,048 |  |  |  | 2,382,550 |  |  |  | 2,242,356 |
Specialty Garments |  |  | 148,001 |  |  |  | 127,057 |  |  |  | 135,406 |
First Aid |  |  | 47,364 |  |  |  | 60,368 |  |  |  | 50,210 |
Total consolidated assets |  | $ | 2,696,413 |  |  | $ | 2,569,975 |  |  | $ | 2,427,972 |
Schedule of Long-lived Assets | The Company’s long-lived assets as of August 31, 2024 and August 26, 2023 and revenues and income before income taxes for fiscal 2024, 2023 and 2022 were attributed to the following countries (in thousands):
Long-lived assets as of: |  | August 31, 2024 |  |  | August 26, 2023 |  |
U.S. |  | $ | 1,696,273 |  |  | $ | 1,660,753 |  |
Europe, Canada, Mexico and Nicaragua (1) |  |  | 84,463 |  |  |  | 69,104 |  |
Total |  | $ | 1,780,736 |  |  | $ | 1,729,857 |  |
Schedule of Revenues and Income Before Income Taxes |
Revenues for fiscal years: |  | 2024 |  |  | 2023 |  |  | 2022 |
U.S. |  | $ | 2,237,295 |  |  | $ | 2,054,601 |  |  | $ | 1,831,089 |
Europe and Canada (1) |  |  | 190,136 |  |  |  | 178,446 |  |  |  | 169,733 |
Total |  | $ | 2,427,431 |  |  | $ | 2,233,047 |  |  | $ | 2,000,822 |
Income before income taxes for fiscal years: |  | 2024 |  |  | 2023 |  |  | 2022 |
U.S. |  | $ | 178,895 |  |  | $ | 129,997 |  |  | $ | 128,567 |
Europe, Canada, Mexico and Nicaragua (1) |  |  | 10,484 |  |  |  | 8,840 |  |  |  | 5,758 |
Total |  | $ | 189,379 |  |  | $ | 138,837 |  |  | $ | 134,325 |
(1) No country other than the U.S. accounts for greater than 10% of total long-lived assets, revenues or income before income taxes.

X
- Definition Tabular disclosure of long-lived assets, excluding financial instruments, long-term customer relationships of a financial institution, mortgage rights, deferred policy acquisition costs, and deferred tax assets, by geographic areas located in the entity's country of domicile and foreign countries in which the entity holds assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph b -SubTopic 10 -Topic 280 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_LongLivedAssetsByGeographicAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of revenue from external customers by geographic areas attributed to the entity's country of domicile and to foreign countries from which the entity derives revenue. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph a -SubTopic 10 -Topic 280 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration