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Accumulated Other Comprehensive Loss
 6 Months Ended
Feb. 15, 2020
Equity [Abstract]  
Accumulated Other Comprehensive Loss
Note I – Accumulated Other Comprehensive Loss
Accumulated
other comprehensive loss includes foreign currency translation adjustments, activity for interest rate swaps and treasury rate locks that qualify as cash flow hedges and unrealized gains (losses) on
available-for-sale
debt securities. Changes in Accumulated other comprehensive loss for the twelve week periods ended February 15, 2020 and February 9, 2019 consisted of the following:
(in thousands)
 
 
Foreign
Currency and
Other
(2)
 
 
Net
Unrealized
Gain (Loss)
  on Securities  
 
 
    Derivatives    
 
 
      Total      
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at November 23, 2019
 
 
 
 $
(246,558
 )   $
403
    $
(3,926
 )   $
(250,081
 )
Other comprehensive income before reclassifications
(1)
  
 
 
  
21,178
     
180
     
–
      
21,358
 
Amounts reclassified from Accumulated other comprehensive
 (loss)
income
(
1
)
 
 
 
  
–
 
 
 
(2
)
 
 
388
(3)
 
 
 
386
 
 
  
 
 
                              
Balance at February 15, 2020
 
 
 
 $
(225,380
)    $
581
    $
(3,538
)    $
(228,337
) 
   
 
 
                              
(in thousands)
 
 
Foreign
Currency and
Other
(2)
 
  
Net
Unrealized
Gain (Loss)
  on Securities  
 
  
    Derivatives    
 
  
      Total      
 
 
 
 
 
 
 
 
  
 
 
 
  
 
 
 
 
 
 
 
Balance at November 17, 2018
 
 
 
 $
(269,472
 )   $
(950
 )   $
(5,644
 )   $
(276,066
 )
Other comprehensive income before reclassifications
(1)
  
 
 
  
39,332
     
507
     
–
      
39,839
 
Amounts reclassified from Accumulated other comprehensive income
(
1
)
 
 
 
 
–
 
 
 
1
 
 
 
389
(3)
 
 
 
390
 
 
  
 
 
                              
Balance at February 9, 2019
 
 
 
 $
(230,140
 )   $
(442
 )   $
(5,255
 )   $
(235,837
 )
(1)
Amounts in parentheses indicate debits to Accumulated other comprehensive loss.
(2)
Foreign currency is shown net of U.S. tax to account for foreign currency impacts of certain undistributed
non-U.S.
subsidiaries earnings. Other foreign currency is not shown net of additional U.S. tax as other basis differences of
non-U.S.
subsidiaries are intended to be permanently reinvested.
(3)
Represents gains on derivatives, net of taxes of $120 for the twelve weeks ended February 15, 2020 and February 9, 2019, which is recorded in Interest expense, net, on the Condensed Consolidated Statements of Income. See “Note E – Derivative Financial Instruments” for further discussion.
Changes in Accumulated other comprehensive loss for the twenty-four week periods ended February 15, 2020 and February 9, 2019 consisted of the following:
(in th
ousands)
 
Foreign
Currency and
Other
(2)
 
 
Net
Unrealized
Gain (Loss)
on Securities
 
 
Derivatives
 
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at August 31, 2019
  $
(265,598
 )   $
591
    $
(4,315
 )   $
(269,322
 )
Other comprehensive income (loss) before reclassifications
(1)
    
40,218
     
(53
 )     
–
      
40,165
 
Amounts reclassified from Accumulated other comprehensive income (loss)
(1)
    
–
      
43
(3)
 		    
777
(4)
 		    
820
 
 
                                
Balance at February 15, 2020
  $
(225,380
 )    $
581
    $
(3,538
 )   $
 
 
 
(228,337
 ) 
                                 
 
(in th
ousands)
 
Foreign
Currency and
Other
(2)
 
 
Net
Unrealized
Gain (Loss)
on Securities
 
 
Derivatives
 
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at August 25, 2018
  $
(228,899
 )   $
(873
 )   $
(6,033
 )   $
(235,805
 )
Other comprehensive income (loss) before reclassifications
(1)
    
(1,241
 )    
430
      
–
      
(811
 )
Amounts reclassified from Accumulated other comprehensive (loss)
(1)
    
–
      
1
      
778
(4)
 		    
779
  
Balance at February 9, 2019
  $
 
 
 
(230,140
 )   $
(442
 )   $
(5,255
 )   $
 
 
 
(235,837
 )
                                 
 
(1)
Amounts in parentheses indicate debits to Accumulated other comprehensive loss.
 
(2)
Foreign currency is shown net of U.S. tax to account for foreign currency impacts of certain undistributed
non-U.S.
subsidiaries earnings. Other foreign currency is not shown net of additional U.S. tax as other basis differences of
non-U.S.
subsidiaries are intended to be permanently reinvested.
 
(3)
Represents realized losses on marketable debt securities, net of tax benefit of $12 for the twenty-four weeks ended February 15, 2020, which is recorded in Operating, selling general and administrative expenses on the Condensed Consolidated Statements of Income. See “Note D – Marketable Debt Securities” for further discussion.
 
(4)
Represents gains on derivatives, net of taxes of $240 for the twenty-four weeks ended February 15, 2020 and February 9, 2019, which is recorded in Interest expense, net, on the Condensed Consolidated Statements of Income. See “Note E – Derivative Financial Instruments” for further discussion.