Summary of Significant Accounting Policies (Tables)

12 Months Ended

Aug. 31, 2019

Accounting Policies [Abstract]

Schedule of Total Revenue Disaggregated by Service Type

The following table presents the Company’s revenues for fiscal 2019, disaggregated by service type:  

	Years ended
	August 31, 2019					August 25, 2018					August 26, 2017
(In thousands, except percentages)	Revenues		% of Revenues			Revenues		% of Revenues			Revenues		% of Revenues
Core Laundry Operations		1,616,205		89.3	%	$	1,523,648		89.8	%	$	1,442,149		90.6	%
Specialty Garments		132,767		7.3	%		118,477		7.0	%		98,024		6.2	%
First Aid		60,404		3.4	%		54,364		3.2	%		50,785		3.2	%
Total Revenues	$	1,809,376		100.0	%	$	1,696,489		100.0	%	$	1,590,958		100.0	%

Schedule of Components of Inventory

The components of inventory as of August 31, 2019 and August 25, 2018 were as follows (in thousands):

	August 31, 2019		August 25, 2018
Raw materials	$	23,000	$	18,508
Work in process		2,864		3,271
Finished goods		75,052		68,397
Total inventory	$	100,916	$	90,176

Schedule of Components of Property, Plant and Equipment

The components of property, plant and equipment as of August 31, 2019 and August 25, 2018 were as follows (in thousands):

	August 31, 2019		August 25, 2018
Land, buildings and leasehold equipment	$	527,419	$	496,966
Machinery and equipment		565,319		534,469
Motor vehicles		253,841		238,087
		1,346,579		1,269,522
Less: accumulated depreciation		772,070		721,526
Total property, plant and equipment	$	574,509	$	547,996

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 31, 2019		August 25, 2018		August 26, 2017
Net income available to shareholders	$	179,134	$	163,895	$	70,196
Allocation of net income for Basic:
Common Stock	$	150,247	$	133,802	$	55,903
Class B Common Stock		28,887		30,093		13,915
Unvested participating shares		—		—		378
	$	179,134	$	163,895	$	70,196
Weighted average number of shares for Basic:
Common Stock		15,385		15,454		15,382
Class B Common Stock		3,697		4,357		4,786
Unvested participating shares		—		—		116
		19,082		19,811		20,284
Income per share for Basic:
Common Stock	$	9.77	$	8.66	$	3.63
Class B Common Stock	$	7.81	$	6.91	$	2.91

Schedule of Computation of Diluted Income Per Share

The following table sets forth the computation of diluted income per share of Common Stock for the years ended August 31, 2019, August 25, 2018 and August 26, 2017 (in thousands, except per share data):

	Year Ended August 31, 2019						Year Ended August 25, 2018						Year Ended August 26, 2017
	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	$	150,247		15,385	$	9.77	$	133,802		15,454	$	8.66	$	55,903			15,382	$	3.63
Add: effect of dilutive potential    common shares
Share-Based Awards		—		114				—		152				—			108
Class B Common Stock		28,887		3,697				30,093		4,357				13,915			4,786
Add: Undistributed earnings    allocated to unvested    participating shares		—		—				—		—				362			—
Less: Undistributed earnings    reallocated to unvested    participating shares		—		—				—		—				(343	)		—
Diluted Income Per Share—    Common Stock	$	179,134		19,196	$	9.33	$	163,895		19,963	$	8.21	$	69,837			20,276	$	3.44

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	$	11,389	$	33,288
Total current assets		784,800		11,389		796,189
Other assets		30,259		44,405		74,664
Total assets	$	1,843,386	$	55,794	$	1,899,180
Liabilities and shareholders’ equity
Accrued and deferred income taxes	$	74,070	$	14,427	$	88,497
Total liabilities		378,419		14,427		392,846
Retained earnings		1,405,239		41,367		1,446,606
Total shareholders’ equity		1,464,967		41,367		1,506,334
Total liabilities and shareholders’ equity	$	1,843,386	$	55,794	$	1,899,180

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

	Year Ended August 31, 2019
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	$	334,840	$	341,795	$	(6,955	)
Total operating expenses		1,577,368		1,584,323		(6,955	)
Operating income		232,008		225,053		6,955
Income before income taxes		237,924		230,969		6,955
Provision for income taxes		58,790		57,010		1,780
Net income	$	179,134	$	173,959	$	5,175
Income per share – Diluted:	$	9.33	$	9.06	$	0.27

	Balance at August 31, 2019
Consolidated Balance Sheet (In thousands)	As Reported		Under Historical Guidance		Impact of Adopting New Revenue Standard
Assets
Prepaid expenses and other current assets	$	35,699	$	23,285	$	12,414
Total current assets		913,791		901,377		12,414
Other assets		84,674		34,339		50,335
Total assets	$	2,047,320	$	1,984,571	$	62,749
Liabilities and shareholders’ equity
Accrued and deferred income taxes	$	99,172	$	83,114	$	16,058
Total liabilities		406,090		390,032		16,058
Retained earnings		1,588,075		1,541,384		46,691
Total shareholders’ equity		1,641,230		1,594,539		46,691
Total liabilities and shareholders’ equity	$	2,047,320	$	1,984,571	$	62,749