Recent Accounting Pronouncements (Tables)

3 Months Ended

Nov. 24, 2018

Accounting Policies [Abstract]

Schedule of Impact of New Accounting Pronouncements

As a result of applying the modified retrospective method to adopt the new revenue guidance, the adjustments set forth in the table below were made to accounts on the consolidated balance sheet as of August 26, 2018:

Consolidated Balance Sheet (In thousands)	August 25, 2018		Capitalization of Contract Costs		August 26, 2018
Assets
Prepaid expenses and other current assets	$	21,899	$	10,789	$	32,688
Total current assets	784,800		10,789		795,589
Other assets	30,259		42,405		72,664
Total assets	$	1,843,386	$	53,194	$	1,896,580
Liabilities and shareholders’ equity
Accrued and deferred income taxes	$	74,070	$	13,761	$	87,831
Total liabilities	378,419		13,761		392,180
Retained earnings	1,405,239		39,433		1,444,672
Total shareholders' equity	1,464,967		39,433		1,504,400
Total liabilities and shareholders’ equity	$	1,843,386	$	53,194	$	1,896,580

The impacts of adopting this standard on the first quarter of fiscal 2019 Consolidated Financial Statements are presented in the following tables:

	Thirteen weeks ended November 24, 2018
Consolidated Statement of Income (In thousands, except per share data)	As Reported		Under Historical Guidance		Impact of Adopting New Revenue Standard
Operating expenses:
Selling and administrative expenses	$	85,959	$	86,875	$	(916	)
Total operating expenses	388,124		389,040		(916		)
Operating income	50,426		49,510		916
Income before income taxes	51,959		51,043		916
Provision for income taxes	13,639		13,399		240
Income from continuing operations
Net income	$	38,320	$	37,644	$	676
Income per share – Diluted:	$	1.99	$	1.95	$	0.04

	Balance at November 24, 2018
Consolidated Balance Sheet (In thousands)	As Reported		Under Historical Guidance		Impact of Adopting New Revenue Standard
Assets
Prepaid expenses and other current assets	$	38,854	$	28,065	$	10,789
Total current assets	809,413		798,624		10,789
Other assets	74,048		30,727		43,321
Total assets	$	1,907,158	$	1,853,048	$	54,110
Liabilities and shareholders’ equity
Accrued and deferred income taxes	$	86,837	$	72,836	$	14,001
Total liabilities	367,660		353,659		14,001
Retained earnings	1,480,922		1,440,813		40,109
Total shareholders' equity	1,539,498		1,499,389		40,109
Total liabilities and shareholders’ equity	$	1,907,158	$	1,853,048	$	54,110