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Derivative Instruments and Hedging Activities
6 Months Ended
Feb. 27, 2021
Derivative Instruments And Hedging Activities Disclosure [Abstract]  
Derivative Instruments and Hedging Activities

6. Derivative Instruments and Hedging Activities

As of February 27, 2021, the Company had forward contracts with a notional value of approximately $3.0 million CAD outstanding and recorded the fair value of the contracts of a nominal amount in prepaid expenses and other current assets with a corresponding nominal loss in accumulated other comprehensive loss, which was recorded net of tax. During the thirteen and twenty-six weeks ended February 27, 2021, the Company reclassified a nominal amount from accumulated other comprehensive loss to revenue, related to the derivative financial instruments. The loss on these forward contracts that resulted in an increase to accumulated other comprehensive loss as of February 27, 2021 is expected to be reclassified to revenues prior to its maturity on February 25, 2022.