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Commitments and Contingencies (Tables)
12 Months Ended
Aug. 27, 2022
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Operating Lease Cost and Information Related to Operating Lease Right-of-use Assets, Net and Operating Lease Liabilities

The following table presents the operating lease cost and information related to the operating lease right-of-use assets, net and operating lease liabilities for fiscal 2022:

(In thousands, except lease term and discount rate)

 

 

 

Lease cost

 

 

 

Operating lease costs including short-term lease expense and variable lease costs, which were immaterial in the period

 

$

21,904

 

 

 

 

 

Operating cash flow impacts

 

 

 

Cash paid for amounts included in the measurement of operating lease liabilities

 

$

3,380

 

Operating lease right-of-use assets obtained in exchange for new operating lease liabilities

 

$

21,391

 

Weighted-average remaining lease term - operating leases

 

4.35

 

Weighted-average discount rate - operating leases

 

 

2.02

%

 

Schedule of Contractual Future Minimum Lease Payments of Operating Lease Liabilities The contractual future minimum lease payments of the Company's operating lease liabilities by fiscal year as of August 27, 2022 are as follows:

(In thousands)

 

 

 

2023

 

$

14,318

 

2024

 

 

12,158

 

2025

 

 

9,163

 

2026

 

 

7,423

 

2027

 

 

5,299

 

Thereafter

 

 

5,132

 

Total payments

 

 

53,493

 

Less interest

 

 

1,821

 

Total present value of lease payments

 

$

51,672

 

Schedule of Changes to Environmental Liabilities The changes to the Company’s environmental liabilities for fiscal 2022 and 2021 were as follows (in thousands):

Year ended

 

August 27,
2022

 

 

August 28,
2021

 

Beginning balance

 

$

32,859

 

 

$

30,702

 

Costs incurred for which reserves have been provided

 

 

(2,188

)

 

 

(1,593

)

Insurance proceeds

 

 

135

 

 

 

129

 

Interest accretion

 

 

596

 

 

 

448

 

Changes in discount rates

 

 

(3,235

)

 

 

(1,040

)

Revisions in estimates

 

 

4,024

 

 

 

4,213

 

Ending balance

 

$

32,191

 

 

$

32,859

 

Schedule of Anticipated Payments and Insurance Proceeds of Currently Identified Environmental Remediation Liabilities

Anticipated payments and insurance proceeds of currently identified environmental remediation liabilities as of August 27, 2022, for the next five fiscal years and thereafter, as measured in current dollars, are reflected below.

 

(In thousands)

 

2023

 

 

2024

 

 

2025

 

 

2026

 

 

2027

 

 

Thereafter

 

 

Total

 

Estimated costs—current dollars

 

$

12,130

 

 

$

3,051

 

 

$

1,741

 

 

$

1,437

 

 

$

1,250

 

 

$

14,947

 

 

$

34,556

 

Estimated insurance proceeds

 

 

(173

)

 

 

(159

)

 

 

(173

)

 

 

(159

)

 

 

(173

)

 

 

(230

)

 

 

(1,067

)

Net anticipated costs

 

$

11,957

 

 

$

2,892

 

 

$

1,568

 

 

$

1,278

 

 

$

1,077

 

 

$

14,717

 

 

$

33,489

 

Effect of inflation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

9,388

 

Effect of discounting

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(10,686

)

Balance as of August 28, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

32,191