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Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Feb. 24, 2024
Feb. 25, 2023
Feb. 24, 2024
Feb. 25, 2023
Revenues $ 590,711 $ 542,691 $ 1,184,236 $ 1,084,489
Operating expenses:        
Cost of revenues [1] 396,191 369,896 779,987 723,868
Selling and administrative expenses [1] 131,417 122,190 254,276 239,553
Depreciation and amortization 35,160 29,895 68,893 [2] 56,940 [2]
Total operating expenses 562,768 521,981 1,103,156 1,020,361
Operating income 27,943 20,710 81,080 64,128
Other (income) expense:        
Interest income, net (350) (3,031) (3,184) (5,800)
Other expense, net 575 114 1,291 905
Total other expense (income), net 225 (2,917) (1,893) (4,895)
Income before income taxes 27,718 23,627 82,973 69,023
Provision for income taxes 7,261 5,817 20,191 17,256
Net income $ 20,457 $ 17,810 $ 62,782 $ 51,767
Income per share – Diluted:        
Common stock (in dollars per share) $ 1.09 $ 0.95 $ 3.35 $ 2.76
Income allocated to – Basic:        
Common stock $ 20,457 $ 17,810 $ 62,782 $ 51,767
Income allocated to – Diluted:        
Common Stock $ 20,457 $ 17,810 $ 62,782 $ 51,767
Weighted average shares outstanding – Basic:        
Common stock (in shares) 18,696 18,677 18,700 18,674
Weighted average shares outstanding – Diluted:        
Common stock (in shares) 18,754 18,767 18,758 18,757
Common Stock        
Income per share – Basic:        
Common stock (in dollars per share) $ 1.14 $ 0.99 $ 3.49 $ 2.88
Income per share – Diluted:        
Common stock (in dollars per share) $ 1.09 $ 0.95 $ 3.35 $ 2.76
Income allocated to – Basic:        
Common stock $ 17,188 $ 14,962 $ 52,754 $ 43,488
Weighted average shares outstanding – Basic:        
Common stock (in shares) 15,106 15,087 15,110 15,084
Class B Common Stock        
Income per share – Basic:        
Common stock (in dollars per share) $ 0.91 $ 0.79 $ 2.79 $ 2.31
Income allocated to – Basic:        
Common stock $ 3,269 $ 2,848 $ 10,028 $ 8,279
Weighted average shares outstanding – Basic:        
Common stock (in shares) 3,590 3,590 3,590 3,590
[1] Exclusive of depreciation on the Company’s property, plant and equipment and amortization on its intangible assets.
[2] Depreciation and amortization for the twenty-six weeks ended February 24, 2024 and 2023 included approximately $9.2 million and $5.1 million, respectively, of non-cash amortization expense recognized on acquisition-related intangible assets.