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Derivative Instruments and Hedging Activities
9 Months Ended
May 27, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments and Hedging Activities

6. Derivative Instruments and Hedging Activities

As of May 27, 2023, the Company had forward contracts with a notional value of approximately 5.8 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 $0.2 million gain in accumulated other comprehensive loss, which was recorded net of tax. During the thirteen and thirty-nine weeks ended May 27, 2023, the Company reclassified a nominal amount and $0.1 million, respectively, 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 May 27, 2023 is expected to be reclassified to revenues prior to their maturity on August 29, 2026.