Pension and Savings Plans (Tables)

12 Months Ended

Aug. 29, 2015

Compensation and Retirement Disclosure [Abstract]

Weighted Average Asset Allocation for Pension Plan Assets

The fair values of investments by level and asset category and the weighted-average asset allocations of the Company’s pension plans at the measurement date are presented in the following table:


August 29, 2015
	Fair Value		Asset Allocation						Fair Value Hierarchy
(in thousands)	Fair Value		Actual			Target			Level 1		Level 2		Level 3
U.S. equities	$	60,286		25.3	%		25.8	%	$	—	$	60,286	$	—
International equities		38,725		16.2			17.2			—		38,725		—
Emerging equities		16,393		6.9			8.5			—		16,393		—
High yield securities		19,310		8.1			8.5			—		19,310		—
Alternative investments		307		0.1			—			—		—		307
Fixed income securities		93,362		39.1			40.0			—		93,362		—
Cash and cash equivalents		10,372		4.3			—			—		10,372		—

	$	238,755		100.0	%		100.0	%	$	—	$	238,448	$	307


August 30, 2014
	Fair Value		Asset Allocation						Fair Value Hierarchy
(in thousands)	Fair Value		Actual			Target			Level 1		Level 2		Level 3
U.S. equities	$	70,021		28.8	%		25.8	%	$	—	$	70,021	$	—
International equities		45,521		18.7			17.2			—		45,521		—
Emerging equities		24,187		9.9			8.5			—		24,187		—
High yield securities		22,647		9.3			8.5			—		22,647		—
Alternative investments		803		0.3			—			—		—		803
Fixed income securities		67,652		27.8			40.0			—		67,652		—
Cash and cash equivalents		12,576		5.2			—			—		12,576		—

	$	243,407		100.0	%		100.0	%	$	—	$	242,604	$	803

Change in Fair Value of Level 3 Assets

The change in fair value of Level 3 assets that use significant unobservable inputs is presented in the following table:


(in thousands)	Level 3 Assets
Beginning balance – August 30, 2014	$	803
Actual return on plan assets:
Assets held at August 29, 2015		(134	)
Assets sold during the year		(74	)
Sales and settlements		(288	)

Ending balance – August 29, 2015	$	307

Plan's Funded Status and Amounts Recognized in Company's Consolidated Balance Sheets

The following table sets forth the plans’ funded status and amounts recognized in the Company’s Consolidated Balance Sheets:


(in thousands)	August 29, 2015			August 30, 2014
Change in Projected Benefit Obligation:
Projected benefit obligation at beginning of year	$	300,966		$	256,780
Interest cost		12,338			13,070
Actuarial (gains) losses		(1,056	)		38,659
Benefits paid		(16,125	)		(7,543	)

Benefit obligations at end of year	$	296,123		$	300,966

Change in Plan Assets:
Fair value of plan assets at beginning of year	$	243,407		$	208,120
Actual return on plan assets		(5,604	)		25,920
Employer contributions		17,077			16,910
Benefits paid		(16,125	)		(7,543	)

Fair value of plan assets at end of year	$	238,755		$	243,407

Amount Recognized in the Statement of Financial Position:
Current liabilities	$	(253	)	$	(192	)
Long-term liabilities		(57,115	)		(57,367	)

Net amount recognized	$	(57,368	)	$	(57,559	)

Amount Recognized in Accumulated Other Comprehensive Loss and not yet reflected in Net Periodic Benefit Cost:
Net actuarial loss	$	(116,735	)	$	(104,847	)

Accumulated other comprehensive loss	$	(116,735	)	$	(104,847	)

Amount Recognized in Accumulated Other Comprehensive Loss and not yet reflected in Net Periodic Benefit Cost and expected to be amortized in next year’s Net Periodic Benefit Cost:
Net actuarial loss	$	(10,506	)	$	(8,941	)

Amount recognized	$	(10,506	)	$	(8,941	)

Net Periodic Benefit Expense

Net periodic benefit expense consisted of the following:


	Year Ended
(in thousands)	August 29, 2015			August 30, 2014			August 31, 2013
Interest cost	$	12,338		$	13,070		$	11,746
Expected return on plan assets		(16,281	)		(15,386	)		(13,617	)
Recognized net actuarial losses		8,941			6,879			14,721

Net periodic benefit expense	$	4,998		$	4,563		$	12,850

Actuarial Assumptions Used in Determining Projected Benefit Obligation

The actuarial assumptions used in determining the projected benefit obligation include the following:


	Year Ended
	August 29, 2015			August 30, 2014			August 31, 2013
Weighted average discount rate		4.50	%		4.28	%		5.19	%
Expected long-term rate of return on plan assets		7.00	%		7.50	%		7.50	%

Benefit Payments are Expected to be Paid as Follows

Based on current assumptions about future events, benefit payments are expected to be paid as follows for each of the following fiscal years. Actual benefit payments may vary significantly from the following estimates:


(in thousands)	Benefit Payments
2016	$	11,118
2017		10,992
2018		11,717
2019		12,482
2020		13,107
2021 – 2025		73,726