Leases (Tables)
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9 Months Ended |
May 29, 2021 |
Leases [Abstract] |
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Components Of Lease Cost |
| | | | | | | | | Thirteen Weeks Ended | Thirteen Weeks Ended | | | May 29, 2021 | May 30, 2020 | Operating lease cost | | $ | 5,118 | | $ | 6,592 | Variable lease benefit | | | (605) | | | (368) | Short-term lease cost | | | 262 | | | 197 | Finance lease cost: | | | | | | | Amortization of leased assets | | | 322 | | | 333 | Interest on leased liabilities | | | 20 | | | 29 | Total Lease Cost | | $ | 5,117 | | $ | 6,783 |
| | | | | | | | | Thirty-Nine Weeks Ended | Thirty-Nine Weeks Ended | | | May 29, 2021 | May 30, 2020 | Operating lease cost | | $ | 17,984 | | $ | 18,952 | Variable lease benefit | | | (1,626) | | | (459) | Short-term lease cost | | | 665 | | | 681 | Finance lease cost: | | | | | | | Amortization of leased assets | | | 966 | | | 906 | Interest on leased liabilities | | | 65 | | | 84 | Total Lease Cost | | $ | 18,054 | | $ | 20,164 |
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Supplemental Balance Sheet Information |
| | | | | | | | | | | | | | As of | | | | As of | | | | | May 29, | | | August 29, | | | Classification | | 2021 | | | | 2020 | Assets | | | | | | | | | | Operating lease assets | | Operating lease assets | | $ | 39,401 | (2) | | $ | 56,173 | Finance lease assets (1) | | Property, plant and equipment, net | | | 2,674 | | | | 3,625 | Total leased assets | | | | $ | 42,075 | | | $ | 59,798 | Liabilities | | | | | | | | | | Current | | | | | | | | | | Operating | | Current portion of operating lease liabilities | | $ | 14,570 | (2) | | $ | 21,815 | Finance | | Current portion of debt including obligations under finance leases | | | 1,291 | | | | 1,262 | Noncurrent | | | | | | | | | | Operating | | Noncurrent operating lease liabilities | | | 26,008 | (2) | | | 34,379 | Finance | | Long-term debt including obligations under finance leases | | | 1,473 | | | | 2,453 | Total lease liabilities | | | | $ | 43,342 | | | $ | 59,909 | | | | | | | | | | | (1) Finance lease assets are net of accumulated amortization of $2,405 and $1,439 as of May 29, 2021 and August 29, 2020, respectively. | (2) During the thirty-nine-week period ended May 29, 2021, the Company recorded an impairment charge of $14,458 for impacted operating lease assets, net of gains related to settlement of lease liabilities, in Restructuring costs on the unaudited Condensed Consolidated Statements of Income. See Note 9, “Restructuring Costs” for additional information. |
| | | | | | | | | As of | | As of | | | May 29, | | May 30, | | | 2021 | | 2020 | Weighted-average remaining lease term (in years) | | | | | | | Operating Leases | | 4.5 | | | 3.9 | | Finance Leases | | 2.2 | | | 3.2 | | Weighted-average discount rate | | | | | | | Operating Leases | | 3.5 | % | | 3.4 | % | Finance Leases | | 2.7 | % | | 2.7 | % |
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Supplemental Cash Flow Information |
| | | | | | | | | Thirty-Nine Weeks Ended | | Thirty-Nine Weeks Ended | | | May 29, 2021 | | May 30, 2020 | Operating Cash Outflows from Operating Leases | | $ | 18,742 | | $ | 18,539 | Operating Cash Outflows from Finance Leases | | | 65 | | | 84 | Financing Cash Outflows from Finance Leases | | | 967 | | | 903 | Leased assets obtained in exchange for new lease liabilities: | | | | | | | Operating Leases | | $ | 8,988 | | $ | 13,854 | Finance Leases | | | 16 | | | 1,973 |
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Schedule Of Future Lease Payments |
| | | | | | | | | | Fiscal Year (1) | | Operating Leases | | Finance Leases | | Total | 2021 (includes fiscal fourth quarter only) | | $ | 4,550 | | $ | 344 | | $ | 4,894 | 2022 | | | 13,741 | | | 1,347 | | | 15,088 | 2023 | | | 8,522 | | | 1,021 | | | 9,543 | 2024 | | | 5,116 | | | 156 | | | 5,272 | 2025 | | | 3,236 | | | 6 | | | 3,242 | Thereafter | | | 8,621 | | | 2 | | | 8,623 | Total Lease Payments | | | 43,786 | | | 2,876 | | | 46,662 | Less: Imputed Interest | | | 3,208 | | | 112 | | | 3,320 | Present Value of Lease Liabilities (2) | | $ | 40,578 | | $ | 2,764 | | $ | 43,342 | | | | | | | | | | | (1) Future lease payments by fiscal year are based on contractual lease obligations | (2) Includes the current portion of $14,570 for operating leases and $1,291 for finance leases |
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