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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Aug. 29, 2020

Accounting Policies [Abstract]

Depreciation of Property and Equipment

Depreciation of property and equipment is computed using the straight-line method on the cost of the assets, less allowance for salvage value where appropriate, at rates based upon their estimated service lives as follows:

Asset Class			Asset Life
Buildings			10-30 years
Machinery and equipment			3-15 years
Software			5-10 years
Transportation equipment			5-6 years

Property, plant, and equipment is stated at cost, net of accumulated depreciation and consists of the following:

(in thousands)			August 29, 2020						August 31, 2019
Land			$	11,101					$	6,799
Buildings and building improvements			165,343						119,638
Machinery and equipment			117,370						107,701
Software			28,456						29,169
Transportation			4,913						3,865
Property, plant, and equipment, gross			327,183						267,172
Less accumulated depreciation			152,238						139,600
Property, plant, and equipment, net			$	174,945					$	127,572

Balance Sheet Impacts By Adoption of Leases Accounting Standard Update

(in thousands)			August 31, 2019 As Reported						ASU 2016-02 Adjustment on September 1, 2019						September 1, 2019 As Adjusted
Assets
Other intangible assets, net			256,082						$	(1,310)					$	254,772
Lease assets			—						33,811						33,811
Total assets			$	1,104,231					$	32,501					$	1,136,732
Liabilities and Stockholders' Equity
Accrued expenses: Other			$	13,678					$	1,258					$	14,936
Total current liabilities			197,744						1,258						199,002
Lease liabilities			—						31,243						31,243
Total non-current liabilities			274,275						31,243						305,518
Total liabilities and stockholders' equity			1,104,231						$	32,501					$	1,136,732

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Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

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Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

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