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Employee Benefit Plans (Tables)

12 Months Ended

Aug. 31, 2019

The components of net periodic benefit cost related to the Company’s Pension Plans and SERP for fiscal 2019, 2018 and 2017 were as follows (in thousands):

	Pension Plans									SERP
	2019			2018			2017			2019		2018		2017
Service cost	$	114		$	115		$	271		$	725	$	694	$	785
Interest cost		260			257			244			1,148		1,027		1,003
Expected return on assets		(199	)		(174	)		(189	)		—		—		—
Amortization of prior service cost		66			66			83			—		—		56
Amortization of unrecognized loss		51			102			149			247		362		653
Other events		503			96			125			—		—		—
Net periodic benefit cost	$	795		$	462		$	683		$	2,120	$	2,083	$	2,497

Schedule of Obligations and Funded Status

The Company’s obligations and funded status related to its Pension Plans and SERP as of August 31, 2019 and August 25, 2018 were as follows (in thousands):

	Pension Plans						SERP
	2019			2018			2019			2018
Change in benefit obligation:
Projected benefit obligation, beginning of year	$	7,449		$	8,382		$	27,547		$	28,801
Service cost		114			115			725			694
Interest cost		260			257			1,148			1,027
Actuarial loss (gain)		163			(673	)		7,456			(2,129	)
Benefits paid		(50	)		(84	)		(909	)		(846	)
Settlements		(2,370	)		(548	)		—			—
Projected benefit obligation, end of year	$	5,566		$	7,449		$	35,967		$	27,547

Change in plan assets:
Fair value of plan assets, beginning of year	$	6,325		$	5,097		$	—		$	—
Actual return on plan assets		170			72			—			—
Employer contributions		528			1,788			—			—
Benefits paid		(50	)		(84	)		—			—
Settlements		(2,370	)		(548	)		—			—
Fair value of plan assets, end of year	$	4,603		$	6,325		$	—		$	—
Funded status (net amount recognized):	$	(963	)	$	(1,124	)	$	(35,967	)	$	(27,547	)

Schedule of Amounts Recorded on Consolidated Balance Sheet

The amounts recorded on the Consolidated Balance Sheet for the Company’s Pension Plans and SERP as of August 31, 2019 and August 25, 2018 were as follows (in thousands):

	Pension Plans						SERP
	2019			2018			2019			2018
Deferred tax assets	$	254		$	362		$	2,912		$	1,081
Accrued liabilities	$	963		$	1,124		$	35,967		$	27,547
Accumulated other comprehensive loss	$	(741	)	$	(1,037	)	$	(8,509	)	$	(3,098	)

Schedule of Amounts Recognized in Accumulated Other Comprehensive Loss

As of August 31, 2019 and August 25, 2018, the amounts recognized in accumulated other comprehensive loss for the Company’s Pension Plans and SERP were as follows (in thousands):

	Pension Plans						SERP
	2019			2018			2019			2018
Net actuarial loss	$	(549	)	$	(797	)	$	(8,509	)	$	(3,098	)
Unrecognized prior service cost		(192	)		(240	)		—			—
Accumulated other comprehensive loss	$	(741	)	$	(1,037	)	$	(8,509	)	$	(3,098	)

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 31, 2019 and August 25, 2018, were as follows:

	Pension Plans						SERP
	2019			2018			2019			2018
Discount rate		2.7	%		3.9	%		2.9	%		4.0	%
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 the years ended August 31, 2019, August 25, 2018 and August 26, 2017, were as follows:

	Pension Plans									SERP
	2019			2018			2017			2019			2018			2017
Discount rate		3.8	%		3.2	%		2.9	%		4.0	%		3.6	%		3.3	%
Expected return on plan assets		3.5	%		3.5	%		3.9	%	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 following benefit payments, which reflect expected future service, that are expected to be paid for the five fiscal years subsequent to August 31, 2019 and thereafter are as follows (in thousands):

	Pension Plans		SERP
2020	$	960	$	1,125
2021		189		1,125
2022		250		1,340
2023		317		1,338
2024		307		1,513
Thereafter		3,543		29,526
Total benefit payments	$	5,566	$	35,967