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Pension and Savings Plans (Tables)
 12 Months Ended
Aug. 31, 2019
Retirement Benefits [Abstract]  
Plan's Funded Status and Amounts Recognized in Company's Consolidated Balance Sheets
The following table sets forth the plans’ funded status:
 
(in thousands)
 
August 25,
2018
(1)
 
Change in Projected Benefit Obligation:
    
Projected benefit obligation at beginning of year
 $314,724 
Interest cost
  10,356 
Actuarial (gains) losses
  (676) 
Annuities purchased
  (157,589) 
Benefits and settlements paid
  (166,815) 
  
 
 
 
Benefit obligations at end of year
 $—   
  
 
 
 
Change in Plan Assets:
    
Fair value of plan assets at beginning of year
 $316,267 
Actual return on plan assets
  (3,428) 
Employer contributions
  11,596 
Annuities purchased
  (157,589) 
Benefits and settlements paid
  (166,815) 
Asset reversion upon termination
  (31) 
  
 
 
 
Fair value of plan assets at end of year
 $—   
  
 
 
 
     
 
(1)
The pension plans were terminated in fiscal 2018.
Net Periodic Benefit Expense
Net periodic benefit expense consisted of the following:
 
  
Year Ended
 
(in thousands)
 
August 25,
2018
(1)
  
August 26,
2017
 
Interest cost
 $10,356  $10,335 
Expected return on plan assets
  (18,997)   (20,056) 
Recognized net actuarial losses
  10,736   13,873 
Settlement loss
  130,263   —   
  
 
 
  
 
 
 
Net periodic benefit expense
 $132,358  $4,152 
  
 
 
  
 
 
 
 
(1)
The pension plans were terminated in fiscal 2018.
Actuarial Assumptions Used in Determining Projected Benefit Obligation
The blended actuarial assumptions used in determining the projected benefit obligation include the following:
 
  
Year Ended
 
  
August 25,
2018
(1)
  
August 26,
2017
 
Discount rate to determine benefit obligation
  3.86%   3.86% 
Discount rate to determine net interest cost
  3.36%   3.21% 
Expected long-term rate of return on plan assets
  6.00%   7.00% 
 
(1)
The pension plans were terminated in fiscal 2018.