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Leases (Tables)

12 Months Ended

Aug. 29, 2020

Leases [Abstract]

Supplemental Balance Sheet Information

The following table details the supplemental balance sheet information related to the Company's leases:

(in thousands)			Classification			August 29, 2020
Assets
Operating leases			Operating lease assets			$	29,463
Finance leases			Other assets			$	4,398
Total lease assets						$	33,861
Liabilities
Current: Operating leases			Accrued expenses: Other			$	2,660
Current: Finance leases			Accrued expenses: Other			539
Non-Current: Operating leases			Operating lease liabilities			27,048
Non-Current: Finance leases			Non-current liabilities: Other			$	4,868
Total lease liabilities						$	35,115

Schedule of Lease Costs

The following table details the operating lease cost incurred:

						Year Ended
(in thousands)			Classification			August 29, 2020
Operating lease expense(1)			Costs of goods sold and SG&A			$	6,962
Finance lease cost:
Depreciation of lease assets			Costs of goods sold and SG&A			474
Interest on lease liabilities			Interest expense			289
Total lease cost						$	7,725

(1) Operating lease expense includes short-term leases and variable lease payments, which are immaterial.

The following table details additional information related to the Company's leases:

(in thousands)			August 29, 2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases			$	2,463
Operating cash flows from financing leases			289
Financing cash flows from financing leases			362
Lease assets obtained in exchange for new lease liabilities:
Operating leases			1,179
Finance leases (1)			5,664
			August 29, 2020
Weighted average remaining lease term:
Operating leases			8.7
Finance leases			7.8
Weighted average discount rate:
Operating leases			6.2		%
Finance leases			6.2		%

(1)    Represents the lease liability added. Lease assets are offset by a $1.0 million unfavorable lease liability created by the acquisition of Newmar.

Future Lease Commitments for Future Fiscal Years of Operating Leases

The Company's future lease commitments for future fiscal years as of August 29, 2020 included the following related party and non-related party leases:

			Operating Leases as of August 29, 2020															Financing Leases
(in thousands)			Related Party Amount			Non-Related Party Amount			Total			Non-Related Party Amount
Fiscal 2021			$	900		$	3,503		$	4,403		$	855
Fiscal 2022			900			3,188			4,088			851
Fiscal 2023			1,500			2,897			4,397			842
Fiscal 2024			1,800			2,587			4,387			846
Fiscal 2025			1,800			2,393			4,193			867
Thereafter			7,800			9,518			17,318			2,575
Total future undiscounted lease payments			14,700			24,086			38,786			6,836
Less: Interest			3,874			5,204			9,078			1,429
Total reported lease liabilities			$	10,826		$	18,882		$	29,708		$	5,407

Future Lease Commitments for Future Fiscal Years of Financing Leases

The Company's future lease commitments for future fiscal years as of August 29, 2020 included the following related party and non-related party leases:

			Operating Leases as of August 29, 2020															Financing Leases
(in thousands)			Related Party Amount			Non-Related Party Amount			Total			Non-Related Party Amount
Fiscal 2021			$	900		$	3,503		$	4,403		$	855
Fiscal 2022			900			3,188			4,088			851
Fiscal 2023			1,500			2,897			4,397			842
Fiscal 2024			1,800			2,587			4,387			846
Fiscal 2025			1,800			2,393			4,193			867
Thereafter			7,800			9,518			17,318			2,575
Total future undiscounted lease payments			14,700			24,086			38,786			6,836
Less: Interest			3,874			5,204			9,078			1,429
Total reported lease liabilities			$	10,826		$	18,882		$	29,708		$	5,407

Schedule of Future Minimum Lease Payments Prior to Adoption of ASC 842

The Company's future minimum lease payments for future fiscal years as determined prior to the adoption of ASC 842, Leases, and as disclosed in the Company's Annual Report on Form 10-K for the fiscal year ended August 31, 2019, included the following related party and non-related party leases:

			Operating Leases as of August 31, 2019
(in thousands)			Related Party Amount			Non-Related Party Amount			Total
Fiscal 2020			$	2,864		$	1,236		$	4,100
Fiscal 2021			2,863			1,068			3,931
Fiscal 2022			2,863			759			3,622
Fiscal 2023			3,597			530			4,127
Fiscal 2024			3,963			361			4,324
Thereafter			25,064			1,359			26,423
Total future lease commitments			$	41,214		$	5,313		$	46,527

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- Definition

Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918701-209980

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Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
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Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 6
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- Definition

Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 20
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-Paragraph 2
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