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Commitments and Contingencies (Tables)
3 Months Ended
Nov. 26, 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 the thirteen weeks ended November 26, 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

 

$

5,686

 

 

 

 

 

Operating cash flow impacts

 

 

 

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

 

$

3,189

 

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

 

$

322

 

Weighted-average remaining lease term - operating leases

 

4.22

 

Weighted-average discount rate - operating leases

 

 

2.03

%

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 are as follows as of November 26, 2022:

 

(In thousands)

 

 

 

2022 (remaining three months)

 

$

11,041

 

2023

 

 

12,209

 

2024

 

 

9,189

 

2025

 

 

7,352

 

2026

 

 

5,303

 

Thereafter

 

 

5,286

 

Total payments

 

 

50,380

 

Less interest

 

 

(1,403

)

Total present value of lease payments

 

$

48,977

 

Schedule of Changes to Environmental Liabilities The changes to the Company’s environmental liabilities for the thirteen weeks ended November 26, 2022 were as follows (in thousands):

 

 

 

November 26, 2022

 

Balance as of August 27, 2022

 

$

32,191

 

Revisions in estimates

 

 

(4

)

Costs incurred for which reserves have been provided

 

 

(379

)

Insurance proceeds

 

 

35

 

Interest accretion

 

 

259

 

Changes in discount rates

 

 

(1,251

)

Balance as of November 26, 2022

 

$

30,851

 

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 November 26, 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

 

$

11,750

 

 

$

3,051

 

 

$

1,741

 

 

$

1,437

 

 

$

1,250

 

 

$

14,947

 

 

$

34,176

 

Estimated insurance proceeds

 

 

(137

)

 

 

(159

)

 

 

(173

)

 

 

(159

)

 

 

(173

)

 

 

(230

)

 

 

(1,031

)

Net anticipated costs

 

$

11,613

 

 

$

2,892

 

 

$

1,568

 

 

$

1,278

 

 

$

1,077

 

 

$

14,717

 

 

$

33,145

 

Effect of inflation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

9,647

 

Effect of discounting

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(11,941

)

Balance as of November 26, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

30,851