Loans Payable and Long-term Debt	12 Months Ended
Aug. 27, 2022
Debt Disclosure [Abstract]
Loans Payable and Long-term Debt	5. Loans Payable and Long-term Debt As of August 27, 2022 and August 28, 2021, the Company had no outstanding loans payable. On March 26, 2021, the Company entered into an amended and restated $175.0 million unsecured revolving credit agreement (the “2021 Credit Agreement”) with a syndicate of banks, which matures on March 26, 2026. The 2021 Credit Agreement amended and restated the $250.0 million unsecured revolving credit agreement, which was scheduled to mature on April 11, 2021. Under the 2021 Credit Agreement, the Company may borrow funds at variable interest rates based on, at the Company’s election, the Eurodollar rate or a base rate, plus in each case a spread based on the Company’s consolidated funded debt ratio. Availability of credit requires compliance with certain financial and other covenants, including a maximum consolidated funded debt ratio and minimum consolidated interest coverage ratio, each as defined in the 2021 Credit Agreement. The Company tests its compliance with these financial covenants on a fiscal quarterly basis. As of August 27, 2022, the interest rates applicable to the Company’s borrowings under the 2021 Credit Agreement would be calculated as LIBOR plus 1.00% at the time of the respective borrowing. As of August 27, 2022, the Company had no outstanding borrowings and had outstanding letters of credit amounting to $60.8 million, leaving $114.2 million available for borrowing under the 2021 Credit Agreement. As of August 27, 2022, the Company was in compliance with all covenants under the 2021 Credit Agreement.

Loans Payable and Long-term Debt

12 Months Ended

Aug. 27, 2022

5. Loans Payable and Long-term Debt

As of August 27, 2022 and August 28, 2021, the Company had no outstanding loans payable.

On March 26, 2021, the Company entered into an amended and restated $175.0 million unsecured revolving credit agreement (the “2021 Credit Agreement”) with a syndicate of banks, which matures on March 26, 2026. The 2021 Credit Agreement amended and restated the $250.0 million unsecured revolving credit agreement, which was scheduled to mature on April 11, 2021. Under the 2021 Credit Agreement, the Company may borrow funds at variable interest rates based on, at the Company’s election, the Eurodollar rate or a base rate, plus in each case a spread based on the Company’s consolidated funded debt ratio. Availability of credit requires compliance with certain financial and other covenants, including a maximum consolidated funded debt ratio and minimum consolidated interest coverage ratio, each as defined in the 2021 Credit Agreement. The Company tests its compliance with these financial covenants on a fiscal quarterly basis. As of August 27, 2022, the interest rates applicable to the Company’s borrowings under the 2021 Credit Agreement would be calculated as LIBOR plus 1.00% at the time of the respective borrowing. As of August 27, 2022, the Company had no outstanding borrowings and had outstanding letters of credit amounting to $60.8 million, leaving $114.2 million available for borrowing under the 2021 Credit Agreement.

As of August 27, 2022, the Company was in compliance with all covenants under the 2021 Credit Agreement.