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Commitments and Contingencies (Tables)
3 Months Ended
Nov. 25, 2023
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 25, 2023:

 

(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

 

$

6,577

 

 

 

 

Operating cash flow impacts:

 

 

 

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

 

$

5,164

 

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

 

$

6,918

 

Weighted-average remaining lease term - operating leases

 

 

5.15

 

Weighted-average discount rate - operating leases

 

 

4.07

%

Schedule of Contractual Future Minimum Lease Payments of Operating Lease Liabilities

The contractual future minimum lease payments of the Companys operating lease liabilities by fiscal year as of November 25, 2023

are as follows (in thousands):

 

2024 (remaining nine months)

 

$

15,130

 

2025

 

 

17,072

 

2026

 

 

14,066

 

2027

 

 

10,669

 

2028

 

 

7,181

 

Thereafter

 

 

11,121

 

Total payments

 

 

75,239

 

Less interest

 

 

(7,854

)

Total present value of lease payments

 

$

67,385

 

Schedule of Changes to Environmental Liabilities The changes to the Company’s environmental liabilities for the thirteen weeks ended November 25, 2023 were as follows (in thousands):

 

 

November 25, 2023

 

Balance as of August 26, 2023

 

$

30,029

 

Costs incurred for which reserves have been provided

 

 

(302

)

Insurance proceeds

 

 

17

 

Interest accretion

 

 

316

 

Changes in discount rates

 

 

(584

)

Revisions in estimates

 

 

(2

)

Balance as of November 25, 2023

 

$

29,474

 

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 25, 2023, for the next five fiscal years and thereafter, as measured in current dollars, are reflected below.

(In thousands)

 

2024

 

 

2025

 

 

2026

 

 

2027

 

 

2028

 

 

Thereafter

 

 

Total

 

Estimated costs – current dollars

 

$

13,763

 

 

$

2,651

 

 

$

1,442

 

 

$

1,270

 

 

$

972

 

 

$

14,617

 

 

$

34,715

 

Estimated insurance proceeds

 

 

(180

)

 

 

(195

)

 

 

(159

)

 

 

(173

)

 

 

(9

)

 

 

(230

)

 

 

(946

)

Net anticipated costs

 

$

13,583

 

 

$

2,456

 

 

$

1,283

 

 

$

1,097

 

 

$

963

 

 

$

14,387

 

 

$

33,769

 

Effect of inflation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

9,541

 

Effect of discounting

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(13,836

)

Balance as of November 25, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

29,474