Summary of Significant Accounting Policies (Tables)

12 Months Ended

Aug. 25, 2018

The components of inventory as of August 25, 2018 and August 26, 2017 were as follows (in thousands):



	August 25, 2018		August 26, 2017
Raw materials	$	18,508	$	18,468
Work in process	3,271		4,159
Finished goods	68,397		56,441
Total inventory	$	90,176	$	79,068

Components of Property, Plant and Equipment

The components of property, plant and equipment as of August 25, 2018 and August 26, 2017 were as follows (in thousands):



	August 25, 2018		August 26, 2017
Land, buildings and leasehold equipment	$	496,966	$	467,050
Machinery and equipment	576,354		540,185
Motor vehicles	238,087		220,205
	1,311,407		1,227,440
Less: accumulated depreciation	751,831		702,325
Total property, plant and equipment	$	559,576	$	525,115

Schedule of Useful Lives of Property, Plant and Equipment

The Company provides for depreciation on the straight-line method based on the date the asset is placed in service using the following estimated useful lives:



Buildings (in years)	30	—	40
Building components (in years)	10	—	20
Leasehold improvements	Shorter of useful life or term of lease
Machinery and equipment (in years)	3	—	10
Motor vehicles (in years)	3	—	5

Schedule of Computation of Basic Earnings Per Share

The following table sets forth the computation of basic income per share using the two-class method for amounts attributable to the Company’s shares of Common Stock and Class B Common Stock (in thousands, except per share data):



Year ended	August 25, 2018		August 26, 2017		August 27, 2016
Net income available to shareholders	$	163,895	$	70,196	$	125,026

Allocation of net income for Basic:
Common Stock	$	133,802	$	55,903	$	99,282
Class B Common Stock	30,093		13,915		25,093
Unvested participating shares	—		378		651
	$	163,895	$	70,196	$	125,026

Weighted average number of shares for Basic:
Common Stock	15,454		15,382		15,245
Class B Common Stock	4,357		4,786		4,816
Unvested participating shares	—		116		107
	19,811		20,284		20,168

Income per share for Basic:
Common Stock	$	8.66	$	3.63	$	6.51
Class B Common Stock	$	6.91	$	2.91	$	5.21

Reconciliation of Basic and Diluted Net Income Per Share

The following presents a reconciliation of basic and diluted income per share (in thousands, except per share data):



	Year Ended August 25, 2018					Year Ended August 26, 2017					Year Ended August 27, 2016
	Earnings to Common shareholders		Common Shares	Income Per Share		Earnings to Common shareholders		Common Shares	Income Per Share		Earnings to Common shareholders			Common Shares	Income Per Share
As reported – Basic	$	133,802	15,454	$	8.66	55,903		15,382	$	3.63	$	99,282		15,245	$	6.51

Add: effect of dilutive potential common shares
Share-Based Awards	—		152			—		108			—			93
Class B Common Stock	30,093		4,357			13,915		4,786			25,093			4,816

Add: Undistributed earnings allocated to unvested participating shares	—		—			362		—			636			—

Less: Undistributed earnings reallocated to unvested participating shares	—		—			(343	)	—			(602		)	—

Diluted Income Per Share – Common Stock	$	163,895	19,963	$	8.21	69,837		20,276	$	3.44	$	124,409		20,154	$	6.17