Fair Value Measurements (Tables)

6 Months Ended

Feb. 15, 2014

Company's Assets and Liabilities Measured at Fair Value on Recurring Basis

The Company’s assets and liabilities measured at fair value on a recurring basis were as follows:


	February 15, 2014
(in thousands)	Level 1		Level 2		Level 3			Fair Value
Other current assets	$	18,571	$	463	$	—		$	19,034
Other long-term assets		47,798		17,442		—			65,240

	$	66,369	$	17,905	$	—		$	84,274

Contingent consideration	$	—	$	—	$	(242	)	$	(242	)


	August 31, 2013
(in thousands)	Level 1		Level 2		Level 3			Fair Value
Other current assets	$	16,386	$	24	$	—		$	16,410
Other long-term assets		49,011		16,740		—			65,751

	$	65,397	$	16,764	$	—		$	82,161

Contingent consideration	$	—	$	—	$	(242	)	$	(242	)

Change in Contingent Consideration Liability at Fair Value on Recurring Basis

The change in the fair value of the contingent consideration liability is summarized as follows:


(in thousands)	Twelve Weeks Ended February 15, 2014			Twenty-Four Weeks Ended February 15, 2014
Fair value – beginning of period	$	(242	)	$	(242	)
Change in fair value		—			—

Fair value – end of period	$	(242	)	$	(242	)

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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