Liability for Estimated Costs in Excess of Estimated Receipts During Liquidation (Tables)

9 Months Ended

May 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Liquidation Basis of Accounting, Expected Costs and Incomes Accrued

The liability for estimated costs in excess of estimated receipts during liquidation at May 31, 2022, August 25, 2021 and November 19, 2020 were comprised of the following (in thousands):

	May 31, 2022		August 25, 2021		November 19, 2020
Total estimated receipts during remaining liquidation period	$	8,560	$	25,045	$	92,017
Total estimated costs of operations	(438)		(20,763)		(76,151)
Selling, general and administrative expenses	(8,503)		(9,585)		(18,745)
Interest expense	—		(151)		(2,305)
Interest component of operating lease payments	(1,315)		(2,307)		(7,064)
Capital expenditures	(5)		(120)		(943)
Sales costs	(1,264)		(3,408)		(4,079)
Total estimated costs during remaining liquidation period	(11,525)		(36,334)		(109,287)
Liability for estimated costs in excess of estimated receipts during liquidation	$	(2,965)	$	(11,289)	$	(17,270)

Schedule of Liquidation Basis of Accounting, Estimated Costs in Excess of Estimated Receipts

The change in the liability for estimated costs in excess of estimated receipts during liquidation between November 19, 2020 and August 25, 2021 and between August 25, 2021 and May 31, 2022 are as follows (in thousands).

	August 25, 2021		Net Change in Working Capital (3)		Changes in Estimated Future Cash Flows During Liquidation (4)				May 31, 2022
Assets:
Estimated net inflows from operations (1)	$	1,855	$	(882)	$	5,829	$	6,802	$	6,802
	1,855		(882)		5,829		6,802		6,802
Liabilities:
Sales costs	(3,408)		2,599		(455)		(1,264)		(1,264)
Corporate expenditures (2)	(9,736)		14,542		(13,309)		(8,503)		(8,503)
	(13,144)		17,141		(13,764)		(9,767)		(9,767)
Liability for estimated costs in excess of estimated receipts during liquidation	$	(11,289)	$	16,259	$	(7,935)	$	(2,965)	$	(2,965)

	November 19, 2020		Net Change in Working Capital (3)		Changes in Estimated Future Cash Flows During Liquidation (4)		August 25, 2021
Assets:
Estimated net inflows from operations (1)	$	7,859	$	(21,423)	$	15,419	$	1,855
	7,859		(21,423)		15,419		1,855
Liabilities:
Sales costs	(4,079)		1,876		(1,205)		(3,408)
Corporate expenditures (2)	(21,050)		10,445		869		(9,736)
	(25,129)		12,321		(336)		(13,144)
Liability for estimated costs in excess of estimated receipts during liquidation	$	(17,270)	$	(9,102)	$	15,083	$	(11,289)

(1) Estimated net inflows from operations consists of total estimated receipts during liquidation less the sum of total estimated (i) costs of operations, (ii) interest component of operating lease payments and (iii) capital expenditures.

(2) Corporate expenditures consists of (i) selling, general and administrative expenses and (ii) interest expense.

(3) Net change in working capital represents changes in cash, restricted cash, accounts receivable, accounts payable, and accrued expenses and other liabilities as a result of the Company's operating activities for the respective periods.

(4) Changes in estimated future cash flows during liquidation includes adjustments to previous estimates and changes in estimated holding periods of our assets.