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Employee Benefit Plans (Tables)
12 Months Ended
Aug. 30, 2025
Postemployment Benefits [Abstract]  
Components of Net Periodic Benefit Cost

The components of net periodic benefit cost for fiscal 2025, 2024 and 2023 are as follows (in thousands):

 

 

 

UniFirst Plan

 

 

SERP

 

 

 

2025

 

 

2024

 

 

2023

 

 

2025

 

 

2024

 

 

2023

 

Service cost

 

$

73

 

 

$

74

 

 

$

73

 

 

$

390

 

 

$

405

 

 

$

486

 

Interest cost

 

 

148

 

 

 

159

 

 

 

147

 

 

 

1,239

 

 

 

1,255

 

 

 

1,191

 

Expected return on assets

 

 

(91

)

 

 

(90

)

 

 

(101

)

 

 

 

 

 

 

 

 

 

Amortization of prior service cost

 

 

21

 

 

 

21

 

 

 

21

 

 

 

 

 

 

 

 

 

 

Amortization of actuarial gain

 

 

 

 

 

 

 

 

 

 

 

(41

)

 

 

(116

)

 

 

 

Other events

 

 

(10

)

 

 

 

 

 

(12

)

 

 

 

 

 

 

 

 

 

   Net periodic benefit cost

 

$

141

 

 

$

164

 

 

$

128

 

 

$

1,588

 

 

$

1,544

 

 

$

1,677

 

Schedule of Obligations and Funded Status

The Company’s obligations and funded status as of August 30, 2025 and August 31, 2024 are as follows (in thousands):

 

 

 

UniFirst Plan

 

 

SERP

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Change in benefit obligation:

 

 

 

 

 

 

 

 

 

 

 

 

Projected benefit obligation, beginning of year

 

$

3,609

 

 

$

3,549

 

 

$

25,880

 

 

$

25,119

 

Service cost

 

 

73

 

 

 

74

 

 

 

390

 

 

 

405

 

Interest cost

 

 

148

 

 

 

159

 

 

 

1,239

 

 

 

1,255

 

Actuarial loss (gain)

 

 

3

 

 

 

(28

)

 

 

(2,549

)

 

 

465

 

Benefits paid

 

 

(37

)

 

 

(145

)

 

 

(1,481

)

 

 

(1,364

)

Settlements

 

 

(792

)

 

 

 

 

 

 

 

 

 

Projected benefit obligation, end of year

 

$

3,004

 

 

$

3,609

 

 

$

23,479

 

 

$

25,880

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in plan assets:

 

 

 

 

 

 

 

 

 

 

 

 

Fair value of plan assets, beginning of year

 

$

3,108

 

 

$

2,986

 

 

$

 

 

$

 

Actual return on plan assets

 

 

27

 

 

 

20

 

 

 

 

 

 

 

Employer Contributions

 

 

168

 

 

 

247

 

 

 

 

 

 

 

Benefits paid

 

 

(37

)

 

 

(145

)

 

 

 

 

 

 

Settlements

 

 

(792

)

 

 

 

 

 

 

 

 

 

Fair value of plan assets, end of year

 

$

2,474

 

 

$

3,108

 

 

$

 

 

$

 

   Funded status (net amount recognized)

 

$

(530

)

 

$

(501

)

 

$

(23,479

)

 

$

(25,880

)

 

Schedule of Amounts Recorded on Consolidated Balance Sheet

The amounts recorded on the Consolidated Balance Sheets as of August 30, 2025 and August 31, 2024 are as follows (in thousands):

 

 

 

Pension Plans

 

 

SERP

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Deferred tax assets (liabilities)

 

$

4

 

 

$

(10

)

 

$

(1,388

)

 

$

(750

)

Accrued liabilities

 

 

530

 

 

 

501

 

 

 

23,479

 

 

 

25,880

 

Accumulated other comprehensive (loss) income

 

 

(11

)

 

 

30

 

 

 

4,071

 

 

 

2,200

 

 

Schedule of Amounts Recognized in Accumulated Other Comprehensive Loss

As of August 30, 2025 and August 31, 2024, the amounts recognized in accumulated other comprehensive loss are as follows (in thousands):

 

 

UniFirst Plan

 

 

SERP

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Net actuarial gain

 

$

36

 

 

$

113

 

 

$

5,459

 

 

$

2,950

 

Unrecognized prior service cost

 

 

(51

)

 

 

(73

)

 

 

 

 

 

 

   Accumulated other comprehensive (loss) income

 

$

(15

)

 

$

40

 

 

$

5,459

 

 

$

2,950

 

Weighted Average Assumptions Used in Calculating Projected Benefit Obligation

The weighted average assumptions used in calculating the Company’s projected benefit obligation as of August 30, 2025 and August 31, 2024 are as follows:

 

 

UniFirst Plan

 

 

SERP

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Discount rate

 

 

5.1

%

 

 

4.8

%

 

 

5.4

%

 

 

4.9

%

Rate of compensation increase

 

N/A

 

 

N/A

 

 

 

5.0

%

 

 

5.0

%

Weighted Average Assumptions Used in Calculating Net Periodic Service Cost

The weighted average assumptions used in calculating the Company’s net periodic service cost for fiscal 2025, 2024 and 2023 are as follows:

 

 

UniFirst Plan

 

 

SERP

 

 

 

2025

 

 

2024

 

 

2023

 

 

2025

 

 

2024

 

 

2023

 

Discount rate

 

 

4.8

%

 

 

5.1

%

 

 

4.3

%

 

 

4.9

%

 

 

5.2

%

 

 

4.4

%

Expected return on plan assets

 

 

3.5

%

 

 

3.5

%

 

 

3.5

%

 

N/A

 

 

N/A

 

 

N/A

 

Rate of compensation increase

 

N/A

 

 

N/A

 

 

N/A

 

 

 

5.0

%

 

 

5.0

%

 

 

5.0

%

Schedule of Expected Future Benefit Payments

The benefit payments, which reflect expected future service, are expected to be paid for the five fiscal years subsequent to August 30, 2025 and thereafter are as follows (in thousands):

 

 

UniFirst Plan

 

 

SERP

 

2026

 

$

757

 

 

$

1,738

 

2027

 

 

97

 

 

 

1,736

 

2028

 

 

157

 

 

 

1,673

 

2029

 

 

219

 

 

 

1,768

 

2030

 

 

198

 

 

 

1,557

 

Thereafter

 

 

1,576

 

 

 

15,007

 

    Total benefit payments

 

$

3,004

 

 

$

23,479