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Commitments and Contingencies (Tables)
6 Months Ended
Feb. 27, 2021
Commitments And Contingencies Disclosure [Abstract]  
Schedule of Operating Lease Cost and Information Related to Operating Lease Right-of-use Assets, Net and Operating Lease Liabilities

The following table presents the operating lease cost and information related to the operating lease right-of-use assets, net and operating lease liabilities for the twenty-six weeks ended February 27, 2021:

 

(In thousands, except lease term and discount rate)

 

 

 

 

Lease cost

 

 

 

 

Operating lease costs including short-term lease expense and variable lease costs, which were immaterial in the period

 

$

9,502

 

 

 

 

 

 

Operating cash flow impacts

 

 

 

 

Cash paid for amounts included in the measurement of operating lease liabilities

 

$

6,763

 

Operating lease right-of-use assets obtained in exchange for new operating lease liabilities

 

$

5,522

 

Weighted-average remaining lease term - operating leases

 

4.4

 

Weighted-average discount rate - operating leases

 

 

2.47

%

Schedule of Contractual Future Minimum Lease Payments of Operating Lease Liabilities

 

The contractual future minimum lease payments of the Company's operating lease liabilities by fiscal year are as follows as of February 27, 2021:

 

(In thousands)

 

 

 

 

2021 (remaining six months)

 

$

6,992

 

2022

 

 

12,095

 

2023

 

 

8,770

 

2024

 

 

6,219

 

2025

 

 

3,951

 

Thereafter

 

 

5,173

 

Total payments

 

 

43,200

 

Less interest

 

 

(2,039

)

Total present value of lease payments

 

$

41,161

 

 

Schedule of Changes to Environmental Liabilities The changes to the Company’s environmental liabilities for the twenty-six weeks ended February 27, 2021 were as follows (in thousands):

 

 

February 27, 2021

 

Balance as of August 29, 2020

 

$

30,702

 

Costs incurred for which reserves have been provided

 

 

(556

)

Insurance proceeds

 

 

67

 

Interest accretion

 

 

224

 

Changes in discount rates

 

 

(1,654

)

Balance as of February 27, 2021

 

$

28,783

 

 

Schedule of Anticipated Payments and Insurance Proceeds of Currently Identified Environmental Remediation Liabilities

Anticipated payments and insurance proceeds of currently identified environmental remediation liabilities as of February 27, 2021, for the next five fiscal years and thereafter, as measured in current dollars, are reflected below.

 

(In thousands)

 

2021

 

 

2022

 

 

2023

 

 

2024

 

 

2025

 

 

Thereafter

 

 

Total

 

Estimated costs – current dollars

 

$

10,812

 

 

$

2,668

 

 

$

1,371

 

 

$

1,073

 

 

$

1,076

 

 

$

11,852

 

 

$

28,852

 

Estimated insurance proceeds

 

 

(130

)

 

 

(159

)

 

 

(173

)

 

 

(159

)

 

 

(173

)

 

 

(521

)

 

 

(1,315

)

Net anticipated costs

 

$

10,682

 

 

$

2,509

 

 

$

1,198

 

 

$

914

 

 

$

903

 

 

$

11,331

 

 

$

27,537

 

Effect of inflation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

7,475

 

Effect of discounting

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(6,229

)

Balance as of February 27, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

28,783