Note 9 - Asset Retirement Obligations

3 Months Ended

Nov. 28, 2015

Notes to Financial Statements

Asset Retirement Obligation Disclosure [Text Block]

9. Asset Retirement Obligations

The Company recognizes asset retirement obligations in the period in which they are incurred if a reasonable estimate of fair value can be made. The associated asset retirement costs are capitalized as part of the carrying amount of the long-lived asset. The Company continues to depreciate, on a straight-line basis, the amount added to property, plant and equipment and recognizes accretion expense in connection with the discounted liability over the various remaining lives which range from approximately five to twenty-eight years.

A reconciliation of the Company’s asset retirement liability is as follows (in thousands):

	November 28, 2015
Beginning balance as of August 29, 2015	$	12,381
Accretion expense		199
Effect of exchange rate changes		(179	)
Asset retirement liabilities settled		(144	)
Ending balance as of November 28, 2015	$	12,257

Asset retirement obligations are included in long-term accrued liabilities in the accompanying Consolidated Balance Sheets.