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Derivative Instruments and Hedging Activities
3 Months Ended
Nov. 26, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments and Hedging Activities

6. Derivative Instruments and Hedging Activities

As of November 26, 2022, the Company had forward contracts with a notional value of approximately 6.8 million CAD outstanding and recorded the fair value of the contracts, in the amount of $0.2 million, in prepaid expenses and other current assets and other long-term assets with a corresponding $0.1 million gain in accumulated other comprehensive loss, which was recorded net of tax. During the thirteen weeks ended November 26, 2022, the Company reclassified a nominal amount from accumulated other comprehensive loss to revenue related to the derivative financial instruments. The gain on these forward contracts that resulted in a decrease to accumulated other comprehensive loss as of November 26, 2022 is expected to be reclassified to revenues prior to their maturity on August 29, 2026.