MSC Industrial Direct (MSM) 10-Q 8 Jan 15 2015 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Nov. 29, 2014	Jan. 02, 2015
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	29-Nov-14
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Entity Registrant Name	MSC INDUSTRIAL DIRECT CO INC
Entity Central Index Key	1003078
Current Fiscal Year End Date	-18
Entity Filer Category	Large Accelerated Filer
Class A Common Stock [Member]
Entity Common Stock, Shares Outstanding		48,576,499
Class B Common Stock [Member]
Entity Common Stock, Shares Outstanding		13,295,747

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Nov. 29, 2014	Aug. 30, 2014
In Thousands, unless otherwise specified
Current Assets:
Cash and cash equivalents	$46,704	$47,154
Accounts receivable, net of allowance for doubtful accounts of $8,998 and $9,310, respectively	391,432	382,784
Inventories	493,658	449,814
Prepaid expenses and other current assets	45,163	40,410
Deferred income taxes	41,253	41,253
Total current assets	1,018,210	961,415
Property, plant and equipment, net	293,232	294,348
Goodwill	627,869	629,335
Identifiable intangibles, net	133,578	138,314
Other assets	35,351	37,335
Total assets	2,108,240	2,060,747
Current Liabilities:
Revolving credit note	235,000	70,000
Current maturities of long-term debt	26,812	26,829
Accounts payable	130,558	116,283
Accrued liabilities	116,936	96,052
Total current liabilities	509,306	309,164
Long-term debt, net of current maturities	233,765	240,235
Deferred income taxes and tax uncertainties	112,785	112,785
Total liabilities	855,856	662,184
Commitments and Contingencies
Shareholders' Equity:
Preferred stock; $0.001 par value; 5,000,000 shares authorized; none issued and outstanding
Additional paid-in capital	587,985	573,730
Retained earnings	1,132,681	1,286,068
Accumulated other comprehensive loss	-9,002	-5,054
Class A treasury stock, at cost, 7,688,453 and 7,657,386 shares, respectively	-459,349	-456,250
Total shareholders' equity	1,252,384	1,398,563
Total liabilities and shareholders' equity	2,108,240	2,060,747
Class A Common Stock [Member]
Shareholders' Equity:
Common stock	56	56
Class B Common Stock [Member]
Shareholders' Equity:
Common stock	$13	$13

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	3 Months Ended	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Nov. 29, 2014	Aug. 30, 2014
Accounts receivable, allowance for doubtful accounts	$8,998	$9,310
Preferred stock, par value	$0.00	$0.00
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Class A treasury stock, shares	7,688,453	7,657,386
Class A Common Stock [Member]
Common stock, voting rights	1	1
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	56,193,479	55,980,199
Class B Common Stock [Member]
Common stock, voting rights	10	10
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	13,295,747	13,295,747
Common stock, shares outstanding	13,295,747	13,295,747

Condensed_Consolidated_Stateme

Condensed Consolidated Statements Of Income (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Nov. 29, 2014	Nov. 30, 2013
Condensed Consolidated Statements Of Income [Abstract]
Net sales	$731,091	$678,510
Cost of goods sold	400,942	363,655
Gross profit	330,149	314,855
Operating expenses	236,178	218,105
Income from operations	93,971	96,750
Other (expense) income:
Interest expense	-944	-847
Interest income	5	5
Other income (expense), net	177	-212
Total other expense	-762	-1,054
Income before provision for income taxes	93,209	95,696
Provision for income taxes	35,792	36,650
Net income	$57,417	$59,046
Net income per common share:
Basic	$0.92	$0.93
Diluted	$0.91	$0.93
Weighted average shares used in computing net income per common share:
Basic	61,246	62,773
Diluted	61,542	63,078
Cash dividend declared per common share	$3.40	$0.33

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements Of Comprehensive Income (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Nov. 29, 2014	Nov. 30, 2013
Condensed Consolidated Statements Of Comprehensive Income [Abstract]
Net income, as reported	$57,417	$59,046
Foreign currency translation adjustments	-3,948	623
Comprehensive income	$53,469	$59,669

Condensed_Consolidated_Stateme2

Condensed Consolidated Statement Of Shareholders' Equity (USD $)	Class A Common Stock [Member]	Class A Common Stock [Member]	Class A Common Stock [Member]	Class B Common Stock [Member]	Class B Common Stock [Member]	Class B Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Loss [Member]	Class A Treasury Stock [Member]	Total
In Thousands	Common Stock [Member]	Retained Earnings [Member]		Common Stock [Member]	Retained Earnings [Member]
Balance, Value at Aug. 30, 2014	$56			$13			$573,730	$1,286,068	($5,054)	($456,250)	$1,398,563
Balance, Shares at Aug. 30, 2014	55,980			13,296						7,657
Exercise of common stock options, including income tax benefits, Shares	100										100
Exercise of common stock options, including income tax benefits, Value							8,085				8,085
Common stock issued under associate stock purchase plan, Shares										-13
Common stock issued under associate stock purchase plan, Value							451			491	942
Issuance of restricted common stock, net of cancellations, Shares	113
Stock-based compensation							5,039				5,039
Purchase of treasury stock, Shares			44							44
Purchase of treasury stock, Value										-3,590	-3,590
Cash dividends paid on common stock		-164,918	-164,918		-45,206	-45,206
Issuance of dividend equivalent units							680	-680
Foreign currency translation adjustments									-3,948		-3,948
Net income								57,417			57,417
Balance, Value at Nov. 29, 2014	$56			$13			$587,985	$1,132,681	($9,002)	($459,349)	$1,252,384
Balance, Shares at Nov. 29, 2014	56,193			13,296						7,688

Condensed_Consolidated_Stateme3

Condensed Consolidated Statement Of Shareholders' Equity (Parenthetical) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Nov. 29, 2014
Condensed Consolidated Statement Of Shareholders' Equity [Abstract]
Exercise of common stock options, income tax benefits	$1,704

Condensed_Consolidated_Stateme4

Condensed Consolidated Statements Of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Nov. 29, 2014	Nov. 30, 2013
Cash Flows from Operating Activities:
Net income	$57,417	$59,046
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	17,012	16,061
Stock-based compensation	5,039	4,232
Loss on disposal of property, plant, and equipment	230	65
Provision for doubtful accounts	480	1,118
Excess tax benefits from stock-based compensation	-1,791	-4,012
Changes in operating assets and liabilities, net of amounts associated with business acquired:
Accounts receivable	-10,137	-3,831
Inventories	-44,790	3,185
Prepaid expenses and other current assets	-4,797	3,195
Other assets	72	-285
Accounts payable and accrued liabilities	39,017	25,606
Total adjustments	335	45,334
Net cash provided by operating activities	57,752	104,380
Cash Flows from Investing Activities:
Expenditures for property, plant and equipment	-13,358	-12,506
Investment in available for sale securities		-20,366
Cash used in business acquisition, net of cash received		1,434
Net cash used in investing activities	-13,358	-31,438
Cash Flows from Financing Activities:
Purchases of treasury stock	-3,590	-114,996
Payments of regular cash dividends	-24,563	-20,915
Payment of special cash dividend	-184,218
Payments on capital lease and financing obligations	-767	-321
Excess tax benefits from stock-based compensation	1,791	4,012
Proceeds from sale of Class A common stock in connection with associate stock purchase plan	942	813
Proceeds from exercise of Class A common stock options	6,381	4,058
Borrowings under financing obligations	530
Borrowings under Credit Facility	235,000	50,000
Payment of notes payable and revolving credit note under the Credit Facility	-76,250	-3,125
Net cash used in financing activities	-44,744	-80,474
Effect of foreign exchange rate changes on cash and cash equivalents	-100	86
Net decrease in cash and cash equivalents	-450	-7,446
Cash and cash equivalentsbbeginning of period	47,154	55,876
Cash and cash equivalentsbend of period	46,704	48,430
Supplemental Disclosure of Cash Flow Information:
Cash paid for income taxes	5,523	3,999
Cash paid for interest	$837	$751

Basis_Of_Presentation

Basis Of Presentation	3 Months Ended
	Nov. 29, 2014
Basis Of Presentation [Abstract]
Basis Of Presentation	Note 1. Basis of Presentation
	The accompanying condensed consolidated financial statements include MSC Industrial Direct Co., Inc. (“MSC”) and all of its subsidiaries (hereinafter referred to collectively as the “Company”). All intercompany balances and transactions have been eliminated in consolidation.
	The unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation (consisting of normal recurring adjustments) have been included. Operating results for the thirteen week period ended November 29, 2014 are not necessarily indicative of the results that may be expected for the fiscal year ending August 29, 2015. For further information, refer to the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended August 30, 2014.
	The Company’s fiscal year ends on the Saturday closest to August 31 of each year. Unless the context requires otherwise, references to years contained herein pertain to the Company’s fiscal year. The Company’s 2015 fiscal year will be a 52-week accounting period that will end on August 29, 2015 and its 2014 fiscal year was a 52-week accounting period that ended on August 30, 2014.

Net_Income_Per_Share

Net Income Per Share	3 Months Ended
	Nov. 29, 2014
Net Income Per Share [Abstract]
Net Income Per Share	Note 2. Net Income per Share
	The Company’s non-vested restricted stock awards contain non-forfeitable rights to dividends and meet the criteria of a participating security as defined by Accounting Standards Codification™ ("ASC") Topic 260, “Earnings Per Share”. Under the two-class method, net income per share is computed by dividing net income allocated to common shareholders by the weighted average number of common shares outstanding for the period.  In applying the two-class method, net income is allocated to both common shares and participating securities based on their respective weighted average shares outstanding for the period.
		Thirteen Weeks Ended
		November 29,		November 30,
		2014		2013
	Net income as reported	$	57,417	$	59,046
	Less: Distributed net income available to participating securities		-1,238		-132
	Less: Undistributed net income available to participating securities		—		-293
	Numerator for basic net income per share:
	Undistributed and distributed net income available to common shareholders	$	56,179	$	58,621
	Add: Undistributed net income allocated to participating securities		—		293
	Less: Undistributed net income reallocated to participating securities		—		-292
	Numerator for diluted  net income per share:
	Undistributed and distributed net income available to common shareholders	$	56,179	$	58,622
	Denominator:
	Weighted average shares outstanding for basic net income per share		61,246		62,773
	Effect of dilutive securities		296		305
	Weighted average shares outstanding for diluted net income per share		61,542		63,078
	Net income per share Two-class method:
	Basic	$	0.92	$	0.93
	Diluted	$	0.91	$	0.93
	There were no  antidilutive stock options included in the computation of diluted earnings per share for the thirteen week period ended November 29, 2014. Antidilutive stock options of 399 were not included in the computation of diluted earnings per share for the thirteen week period ended November 30, 2013.

StockBased_Compensation

Stock-Based Compensation	3 Months Ended
	Nov. 29, 2014
Stock-Based Compensation [Abstract]
Stock-Based Compensation	Note 3. Stock-Based Compensation
	The Company accounts for all share-based payments in accordance with ASC Topic 718, "Compensation—Stock Compensation" ("ASC 718"). The stock‑based compensation expense related to the stock option plans and the Associate Stock Purchase Plan included in operating expenses was $1,732 and $1,455 for the thirteen week periods ended November 29, 2014 and November 30, 2013, respectively. Tax benefits related to these expenses for the thirteen week periods ended November 29, 2014 and November 30, 2013 were $627 and $526, respectively.
	The fair value of each option grant is estimated on the date of grant using the Black‑Scholes option pricing model with the following assumptions:
			Thirteen Weeks Ended
			November 29,			November 30,
			2014			2013
	Expected life (in years)		3.9			3.9
	Risk-free interest rate		1.09	%		0.93	%
	Expected volatility		24.49	%		26.59	%
	Expected dividend yield		1.70	%		1.70	%
	Weighted-average grant-date fair value	$	14.06		$	14.98
	A summary of the Company’s stock option activity for the thirteen week period ended November 29, 2014 is as follows:
		Options		Weighted-Average Exercise Price per Share			Weighted-Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value
	Outstanding on August 30, 2014	1,186		$	68.24
	Granted	421			83.02
	Exercised	-100			63.76
	Canceled/Forfeited	—			—
	Outstanding on November 29, 2014	1,507		$	72.67		5.16	$	11,258
	Exercisable on November 29, 2014	619		$	63.11		3.86	$	9,423
	The unrecognized share‑based compensation cost related to stock option expense at November 29, 2014 was $11,925 and will be recognized over a weighted average period of 2.0 years. The total intrinsic value of options exercised, which represents the difference between the exercise price and market value of common stock measured at each individual exercise date, during the thirteen week periods ended November 29, 2014 and November 30, 2013 were $1,980 and $2,378, respectively.
	A summary of the non‑vested restricted share award activity under the Company’s 2005 Omnibus Incentive Plan (the “Plan”) for the thirteen weeks ended November 29, 2014 is as follows:
		Shares		Weighted-Average  Grant-Date Fair Value
	Non-vested restricted share awards at August 30, 2014	428		$	68.67
	Granted	115			83.02
	Vested	-117			58.30
	Canceled/Forfeited	-2			76.28
	Non-vested restricted share awards at November 29, 2014	424		$	75.50
	Stock‑based compensation expense recognized for the restricted share awards was $2,767 and $2,238 for the thirteen week periods ended November 29, 2014 and November 30, 2013, respectively. The unrecognized compensation cost related to restricted share awards granted under the Plan at November 29, 2014 was $21,674 and will be recognized over a weighted average period of 2.6 years.
	A summary of the Company’s non-vested restricted stock unit award activity including dividend equivalent units for the thirteen weeks ended November 29, 2014 is as follows:
		Shares			Weighted- Average Grant- Date Fair Value
	Non-vested restricted stock unit awards at August 30, 2014	199		$	55.80
	Granted	10			78.72
	Vested	—			—
	Canceled/Forfeited	—			—
	Non-vested restricted stock unit awards at November 29, 2014	209		$	56.85
	Stock‑based compensation expense recognized for the restricted stock units was $540 and $539 for the thirteen week periods ended November 29, 2014 and November 30, 2013, respectively.  The unrecognized compensation cost related to the restricted stock units at November 29, 2014 was $1,354 and is expected to be recognized over a period of 2.0 years.

Fair_Value

Fair Value	3 Months Ended
	Nov. 29, 2014
Fair Value [Abstract]
Fair Value	Note 4. Fair Value
	Fair value accounting standards define fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The following fair value hierarchy prioritizes the inputs used to measure fair value into three levels, with Level 1 being of the highest priority. The three levels of inputs used to measure fair value are as follows:
	Level 1—Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.
	Level 2—Include other inputs that are directly or indirectly observable in the marketplace.
	Level 3—Unobservable inputs which are supported by little or no market activity.
	In connection with the construction of the Company’s new customer fulfillment center in Columbus, Ohio, the Company entered into an arrangement with the Columbus-Franklin County Finance Authority (“Finance Authority”) which provides savings on state and local sales taxes imposed on construction materials to entities that finance the transactions through them. This arrangement consists of the Finance Authority issuing taxable bonds to finance the structure and site improvements of the Company’s customer fulfillment center. The taxable bonds were approximately $27,023 at November 29, 2014 and August 30, 2014, respectively. The taxable bonds are classified as available for sale securities in accordance with ASC Topic 320. The securities are recorded at fair value in the Consolidated Balance Sheet. The fair values of these securities are based on observable inputs in non-active markets, which are therefore classified as Level 2 in the hierarchy. The Company did not record any significant gains or losses on these securities during the thirteen week period ended November 29, 2014. The outstanding principal amount of each bond bears interest at the rate of 2.4% per year. Interest is payable on a semiannual basis in arrears on each interest payment date.
	In addition, based on borrowing rates currently available to the Company for borrowings with similar terms, the carrying values of the Company’s capital lease obligations also approximate fair value. The fair value of the Company’s long-term debt, including current maturities, is estimated based on quoted market prices for the same or similar issues or on current rates offered to the Company for debt of the same remaining maturities. The carrying amount of the Company’s debt at November 29, 2014, approximates its fair value.
	The Company’s financial instruments, other than those presented in the disclosure above, include cash, receivables, accounts payable, and accrued liabilities. Management believes the carrying amount of the aforementioned financial instruments is a reasonable estimate of fair value as of November 29, 2014 and August 30, 2014 due to the short-term maturity of these items.
	During the thirteen weeks ended November 29, 2014 and November 30, 2013, the Company had no measurements of non-financial assets or liabilities at fair value on a non-recurring basis subsequent to their initial recognition.

Debt_And_Capital_Lease_Obligat

Debt And Capital Lease Obligations	3 Months Ended
	Nov. 29, 2014
Debt And Capital Lease Obligations [Abstract]
Debt And Capital Lease Obligations	Note 5. Debt and Capital Lease Obligations
	Credit Facility
	On April 22, 2013, in connection with the acquisition of the Class C Solutions Group, the Company entered into a $650,000 credit facility (the “Credit Facility”). The Credit Facility, which matures on April 22, 2018, provides for a five-year unsecured revolving loan facility in the aggregate amount of $400,000 and a five-year unsecured term loan facility in the aggregate amount of $250,000.
	The Credit Facility also permits the Company, at its request, and upon the satisfaction of certain conditions, to add one or more incremental term loan facilities and/or increase the revolving loan commitments in an aggregate amount not to exceed $200,000. Subject to certain limitations, each such incremental term loan facility or revolving commitment increase will be on terms as agreed to by the Company, the Administrative Agent and the lenders providing such financing.
	Borrowings under the Credit Facility bear interest, at the Company’s option, either at (i) the LIBOR (London Interbank Offered Rate) rate plus the applicable margin for LIBOR loans ranging from 1.00% to 1.375%, based on the Company’s consolidated leverage ratio; or (ii) the greatest of (a) the Administrative Agent’s prime rate in effect on such day, (b) the federal funds effective rate in effect on such day, plus 0.50% and (c) the LIBOR rate that would be calculated as of such day in respect of a proposed LIBOR loan with a one-month interest period, plus 1.00%, plus, in the case of each of clauses (a) through (c), an applicable margin ranging from 0.00% to 0.375%, based on the Company’s consolidated leverage ratio. The Company is required to pay a quarterly undrawn fee ranging from 0.10% to 0.20% per annum on the unutilized portion of the Credit Facility based on the Company’s consolidated leverage ratio. The Company is also required to pay quarterly letter of credit usage fees ranging between 1.00% to 1.375% (based on the Company’s consolidated leverage ratio) on the amount of the daily average outstanding letters of credit, and a quarterly fronting fee of 0.125% per annum on the undrawn and unexpired amount of each letter of credit. The applicable borrowing rate for the Company for any borrowings outstanding under the Credit Facility at November 29, 2014 was 1.16%, which represents LIBOR plus 1.0%. Based on the interest period the Company selects, interest may be payable every one, two, three or six months. Interest is reset at the end of each interest period. The Company currently elects to have loans under the Credit Facility bear interest based on LIBOR with one-month interest periods.
	The Credit Facility contains several restrictive covenants including the requirement that the Company maintain a maximum consolidated leverage ratio of total indebtedness to EBITDA (earnings before interest expense, taxes, depreciation, amortization and stock based compensation) of no more than 3.00 to 1.00, and a minimum consolidated interest coverage ratio of EBITDA to total interest expense of at least 3.00 to 1.00, during the term of the Credit Facility. Borrowings under the Credit Facility are guaranteed by certain of the Company’s subsidiaries.
	During the thirteen week period ended November 29, 2014, the Company borrowed $235,000 under the revolving loan facility and repaid $70,000 and $6,250 of the revolving loan facility and the term loan facility, respectively.
	As of November 29, 2014, there were $231,250 and $235,000 of borrowings outstanding under the term loan facility and the revolving credit facility, respectively, of the Credit Facility, of which $260,000 represents current maturities. As of August 30, 2014, there were $237,500 and $70,000 of borrowings outstanding under the term loan facility and the revolving credit facility, respectively, of the Credit Facility, of which $95,000 represents current maturities. At November 29, 2014 and August 30, 2014, the Company was in compliance with the operating and financial covenants of the Credit Facility.
	Capital Lease and Financing Obligations
	In connection with the construction of the Company’s new customer fulfillment center in Columbus, Ohio, the Company entered into an arrangement with the Finance Authority which provides savings on state and local sales taxes imposed on construction materials to entities that finance the transactions through them. This arrangement consists of the Finance Authority issuing taxable bonds to finance the structure and site improvements of the Company’s customer fulfillment center. The Finance Authority holds the title to the building and entered into a long-term lease with the Company. The lease has a 20-year term with a prepayment option without penalty between 7 and 20 years. At the end of the lease term, the building’s title is transferred to the Company for a nominal amount when the principal of and interest on the bonds have been fully paid. The lease has been classified as a capital lease in accordance with ASC Topic 840. At November 29, 2014 and August 30, 2014, the capital lease obligation was approximately $27,023.
	From time to time, the Company enters into capital leases and financing arrangements to purchase certain equipment. The equipment acquired from these vendors is paid over a specified period of time based on the terms agreed upon. During the thirteen week period ended November 29, 2014, the Company entered into a financing obligation for certain information technology equipment totaling $530. During the fiscal year ended August 30, 2014, the Company entered into various financing obligations for certain information technology equipment totaling $1,353.
	The amount due under all capital leases and financing arrangements at November 29, 2014 was approximately $29,327, of which $1,812 represents current maturities and at August 30, 2014 was approximately $29,564, of which $1,829 represents current maturities.  The gross amount of property and equipment acquired under these capital leases and financing agreements at November 29, 2014 and August 30, 2014 was approximately $34,035 and $33,505 respectively. Related accumulated amortization totaled $4,067 and $3,339 as of November 29, 2014 and August 30, 2014, respectively.

Shareholders_Equity

Shareholders' Equity	3 Months Ended
	Nov. 29, 2014
Shareholders' Equity [Abstract]
Shareholders' Equity	Note 6. Shareholders’ Equity
	The Company paid cash dividends of $208,781 for the thirteen weeks ended November 29, 2014 which consisted of a special and regular cash dividend of approximately $184,218 and $24,563, respectively. In addition, the Company recorded a dividend payable of $1,343 for dividends declared and not yet paid as of November 29, 2014. For the thirteen weeks ended November 30, 2013, the Company paid cash dividends of $20,915.  On December 17, 2014, the Board of Directors declared a quarterly cash dividend of $0.40 per share payable on January 27, 2015 to shareholders of record at the close of business on January 13, 2015. The dividend will result in a payout of approximately $24,749, based on the number of shares outstanding at January 2, 2015.
	The Board of Directors established the MSC Stock Repurchase Plan (the “Repurchase Plan”) which allows the Company to repurchase shares at any time and in any increments it deems appropriate in accordance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended. During the thirteen week period ended November 29, 2014, the Company repurchased 44 shares of its Class A common stock for $81.73, which is reflected at cost as treasury stock in the accompanying condensed consolidated financial statements. These shares were repurchased by the Company to satisfy the Company’s associates’ tax withholding liability associated with its share-based compensation program. As of November 29, 2014, the maximum number of shares that may yet be repurchased under the Repurchase Plan was 2,075 shares.

Product_Warranties

Product Warranties	3 Months Ended
	Nov. 29, 2014
Product Warranties [Abstract]
Product Warranties	Note 7. Product Warranties
	The Company generally offers a maximum one-year warranty, including parts and labor, for some of its machinery products. The specific terms and conditions of those warranties vary depending upon the product sold. The Company may be able to recoup some of these costs through product warranties it holds with its original equipment manufacturers, which typically range from thirty to ninety days. In general, many of the Company’s general merchandise products are covered by third party original equipment manufacturers’ warranties. The Company’s warranty expense for the thirteen week periods ended November 29, 2014 and November 30, 2013 was minimal.

Income_Taxes

Income Taxes	3 Months Ended
	Nov. 29, 2014
Income Taxes [Abstract]
Income Taxes	Note 8. Income Taxes
	During the thirteen week period ended November 29, 2014, there were no material changes in unrecognized tax benefits.

Legal_Proceedings

Legal Proceedings	3 Months Ended
	Nov. 29, 2014
Legal Proceedings [Abstract]
Legal Proceedings	Note 9. Legal Proceedings
	There are various claims, lawsuits, and pending actions against the Company incidental to the operation of its business. Although the outcome of these matters is currently not determinable, management does not expect that the ultimate costs to resolve these matters will have a material adverse effect on the Company’s consolidated financial position, results of operations, or liquidity.

Recently_Issued_Accounting_Sta

Recently Issued Accounting Standards	3 Months Ended
	Nov. 29, 2014
Recently Issued Accounting Standards [Abstract]
Recently Issued Accounting Standards	Note 10. Recently Issued Accounting Standards
	Revenue from Contracts with Customers
	In May 2014, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers, to clarify the principles used to recognize revenue for all entities. The guidance is effective for annual and interim periods beginning after December 15, 2016. Early adoption is not permitted. This guidance permits the use of one of two retrospective transition methods. The Company has neither selected a transition method, nor determined the impact that the adoption of the pronouncement may have on its consolidated financial statements.
	Recognizing Assets and Liabilities Arising from Lease Contracts on the Balance Sheet
	In May 2013, the FASB reissued an exposure draft on lease accounting that would require entities to recognize assets and liabilities arising from lease contracts on the balance sheet. The Company has not yet determined the impact the adoption of this proposed standard, as currently drafted, will have on its consolidated financial statements. As of November 29, 2014, the Company leases all of its branch offices and certain of its customer fulfillment centers and office space.
	Uncertainties about an Entity’s Ability to Continue as a Going Concern
	In August 2014, the FASB issued ASU No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. This guidance is intended to define management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. ASU No. 2014-15 provides guidance to an organization's management, with principles and definitions that are intended to reduce diversity in the timing and content of disclosures that are commonly provided by organizations today in footnote disclosures. This guidance is effective for annual periods ending after December 15, 2016, and for interim and annual periods thereafter, with early application permitted. The Company does not anticipate that the adoption of the guidance will have any impact on its financial position, results of operations or cash flows.

Net_Income_Per_Share_Tables

Net Income Per Share (Tables)	3 Months Ended
	Nov. 29, 2014
Net Income Per Share [Abstract]
Basic And Diluted Net Income Per Common Share Under The Two-Class Method
		Thirteen Weeks Ended
		November 29,		November 30,
		2014		2013
	Net income as reported	$	57,417	$	59,046
	Less: Distributed net income available to participating securities		-1,238		-132
	Less: Undistributed net income available to participating securities		—		-293
	Numerator for basic net income per share:
	Undistributed and distributed net income available to common shareholders	$	56,179	$	58,621
	Add: Undistributed net income allocated to participating securities		—		293
	Less: Undistributed net income reallocated to participating securities		—		-292
	Numerator for diluted  net income per share:
	Undistributed and distributed net income available to common shareholders	$	56,179	$	58,622
	Denominator:
	Weighted average shares outstanding for basic net income per share		61,246		62,773
	Effect of dilutive securities		296		305
	Weighted average shares outstanding for diluted net income per share		61,542		63,078
	Net income per share Two-class method:
	Basic	$	0.92	$	0.93
	Diluted	$	0.91	$	0.93

StockBased_Compensation_Tables

Stock-Based Compensation (Tables)	3 Months Ended
	Nov. 29, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary Of Stock Options
		Options		Weighted-Average Exercise Price per Share			Weighted-Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value
	Outstanding on August 30, 2014	1,186		$	68.24
	Granted	421			83.02
	Exercised	-100			63.76
	Canceled/Forfeited	—			—
	Outstanding on November 29, 2014	1,507		$	72.67		5.16	$	11,258
	Exercisable on November 29, 2014	619		$	63.11		3.86	$	9,423
Fair Value Of Options Granted Estimated Using Black-Scholes Option Pricing Model Assumptions
			Thirteen Weeks Ended
			November 29,			November 30,
			2014			2013
	Expected life (in years)		3.9			3.9
	Risk-free interest rate		1.09	%		0.93	%
	Expected volatility		24.49	%		26.59	%
	Expected dividend yield		1.70	%		1.70	%
	Weighted-average grant-date fair value	$	14.06		$	14.98
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-Vested Share Activity
		Shares		Weighted-Average  Grant-Date Fair Value
	Non-vested restricted share awards at August 30, 2014	428		$	68.67
	Granted	115			83.02
	Vested	-117			58.30
	Canceled/Forfeited	-2			76.28
	Non-vested restricted share awards at November 29, 2014	424		$	75.50
Restricted Stock Unit Agreement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-Vested Unit Award Activity
		Shares			Weighted- Average Grant- Date Fair Value
	Non-vested restricted stock unit awards at August 30, 2014	199		$	55.80
	Granted	10			78.72
	Vested	—			—
	Canceled/Forfeited	—			—
	Non-vested restricted stock unit awards at November 29, 2014	209		$	56.85

Net_Income_Per_Share_Details

Net Income Per Share (Details) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Nov. 29, 2014	Nov. 30, 2013
Net Income Per Share [Abstract]
Net income as reported	$57,417	$59,046
Less: Distributed net income available to participating securities	-1,238	-132
Less: Undistributed net income available to participating securities		-293
Undistributed and distributed net income available to common shareholders, basic	56,179	58,621
Add: Undistributed net income allocated to participating securities		293
Less: Undistributed net income reallocated to participating securities		-292
Undistributed and distributed net income available to common shareholders, diluted	$56,179	$58,622
Weighted average shares outstanding for basic net income per share	61,246	62,773
Effect of dilutive securities	296	305
Weighted average shares outstanding for diluted net income per share	61,542	63,078
Net income per share, Basic	$0.92	$0.93
Net income per share, Diluted	$0.91	$0.93
Antidilutive stock options	0	399

StockBased_Compensation_Narrat

Stock-Based Compensation (Narrative) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Nov. 29, 2014	Nov. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$5,039	$4,232
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	1,732	1,455
Stock-based compensation expense, tax benefit	627	526
Total intrinsic value of options exercised	1,980	2,378
Unrecognized share-based compensation cost	11,925
Unrecognized share-based compensation weighted average period	2 years
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	2,767	2,238
Unrecognized share-based compensation cost	21,674
Unrecognized share-based compensation weighted average period	2 years 7 months 6 days
Restricted Stock Unit Agreement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	540	539
Unrecognized share-based compensation cost	$1,354
Unrecognized share-based compensation weighted average period	2 years

StockBased_Compensation_Fair_V

Stock-Based Compensation (Fair Value Of Options Granted Estimated Using Black-Scholes Option Pricing Model Assumptions) (Details) (USD $)	3 Months Ended
	Nov. 29, 2014	Nov. 30, 2013
Stock-Based Compensation [Abstract]
Expected life	3 years 10 months 24 days	3 years 10 months 24 days
Risk-free interest rate	1.09%	0.93%
Expected volatility	24.49%	26.59%
Expected dividend yield	1.70%	1.70%
Weighted-average grant-date fair value	$14.06	$14.98

StockBased_Compensation_Summar

Stock-Based Compensation (Summary Of Stock Options) (Details) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Nov. 29, 2014
Stock-Based Compensation [Abstract]
Outstanding at beginning of year, Options	1,186
Granted, Options	421
Exercised, Options	-100
Outstanding at end of period, Options	1,507
Exercisable at end of period, Options	619
Outstanding at beginning of year, Weighted-Average Exercise Price per Share	$68.24
Granted, Weighted-Average Exercise Price per Share	$83.02
Exercised, Weighted-Average Exercise Price per Share	$63.76
Outstanding at end of period, Weighted-Average Exercise Price per Share	$72.67
Exercisable at end of period, Weighted-Average Exercise Price per Share	$63.11
Outstanding on November 29, 2014, Weighted-Average Remaining Contractual Term	5 years 1 month 28 days
Exercisable on November 29, 2014, Weighted-Average Remaining Contractual Term	3 years 10 months 10 days
Outstanding on November 29, 2014, Aggregate Intrinsic Value	$11,258
Exercisable on November 29, 2014, Aggregate Intrinsic Value	$9,423

StockBased_Compensation_NonVes

Stock-Based Compensation (Non-Vested Restricted Share Award Activity) (Details) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Nov. 29, 2014
Restricted Stock [Member] | 2005 Omnibus Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested restricted share awards, beginning, Shares	428
Granted, Shares	115
Vested, Shares	-117
Canceled/Forfeited, Shares	-2
Non-vested restricted share awards, ending, Shares	424
Non-vested restricted share awards, beginning, Weighted-Average Grant-Date Fair Value	$68.67
Granted, Weighted-Average Grant-Date Fair Value	$83.02
Vested, Weighted-Average Grant-Date Fair Value	$58.30
Canceled/Forfeited, Weighted-Average Grant-Date Fair Value	$76.28
Non-vested restricted share awards, ending, Weighted-Average Grant-Date Fair Value	$75.50
Restricted Stock Unit Agreement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested restricted share awards, beginning, Shares	199
Granted, Shares	10
Vested, Shares
Canceled/Forfeited, Shares
Non-vested restricted share awards, ending, Shares	209
Non-vested restricted share awards, beginning, Weighted-Average Grant-Date Fair Value	$55.80
Granted, Weighted-Average Grant-Date Fair Value	$78.72
Vested, Weighted-Average Grant-Date Fair Value
Canceled/Forfeited, Weighted-Average Grant-Date Fair Value
Non-vested restricted share awards, ending, Weighted-Average Grant-Date Fair Value	$56.85

Fair_Value_Details

Fair Value (Details) (Corporate Bond Securities [Member], USD $)	3 Months Ended
In Thousands, unless otherwise specified	Nov. 29, 2014	Aug. 30, 2014
Corporate Bond Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Taxable bond	$27,023	$27,023
Gains and losses on securities	$0
Interest rate on bonds	2.40%

Debt_And_Capital_Lease_Obligat1

Debt And Capital Lease Obligations (Credit Facility) (Narrative) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Nov. 29, 2014	Nov. 30, 2013	Aug. 30, 2014	Apr. 22, 2013
Debt Instrument [Line Items]
Borrowings under Credit Facility	$235,000	$50,000
Repayments of debt	76,250	3,125
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Repayments of debt	70,000
Outstanding balance	235,000		70,000
Term Loan [Member]
Debt Instrument [Line Items]
Repayments of debt	6,250
Outstanding balance	231,250		237,500
New Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity				650,000
Maturity date	22-Apr-18
Available increase in amount borrowed	200,000
Borrowing rate under Credit Facility	1.16%
Maximum consolidated leverage ratio of total indebtedness to EBITDA	3
Minimum consolidated interest coverage ratio of EBITDA to total interest expense	3
Current maturities	260,000		95,000
New Credit Facility [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity				400,000
Credit facility, expiration term	5 years
New Credit Facility [Member] | Term Loan [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity				$250,000
Credit facility, expiration term	5 years
New Credit Facility [Member] | Letter of Credit [Member]
Debt Instrument [Line Items]
Quarterly undrawn fee	0.13%
LIBOR [Member]
Debt Instrument [Line Items]
Percentage points in addition to reference rate used in computation of variable rate on debt instrument	1.00%
Federal Funds Effective Rate [Member] | New Credit Facility [Member]
Debt Instrument [Line Items]
Percentage points in addition to reference rate used in computation of variable rate on debt instrument	0.50%
Minimum [Member] | New Credit Facility [Member]
Debt Instrument [Line Items]
Quarterly undrawn fee	0.10%
Minimum [Member] | New Credit Facility [Member] | Letter of Credit [Member]
Debt Instrument [Line Items]
Usage fee, percent	1.00%
Minimum [Member] | LIBOR [Member] | New Credit Facility [Member]
Debt Instrument [Line Items]
Percentage points in addition to reference rate used in computation of variable rate on debt instrument	1.00%
Minimum [Member] | Leverage Ratio Margin [Member]
Debt Instrument [Line Items]
Percentage points in addition to reference rate used in computation of variable rate on debt instrument	0.00%
Maximum [Member] | New Credit Facility [Member]
Debt Instrument [Line Items]
Quarterly undrawn fee	0.20%
Maximum [Member] | New Credit Facility [Member] | Letter of Credit [Member]
Debt Instrument [Line Items]
Usage fee, percent	1.38%
Maximum [Member] | LIBOR [Member] | New Credit Facility [Member]
Debt Instrument [Line Items]
Percentage points in addition to reference rate used in computation of variable rate on debt instrument	1.38%
Maximum [Member] | Leverage Ratio Margin [Member]
Debt Instrument [Line Items]
Percentage points in addition to reference rate used in computation of variable rate on debt instrument	0.38%

Debt_And_Capital_Lease_Obligat2

Debt And Capital Lease Obligations (Capital Lease And Finance Obligations) (Narrative) (Details) (USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Nov. 29, 2014	Aug. 30, 2014
Capital Leased Assets [Line Items]
Amount due under capital leases and financing agreements	$29,327	$29,564
Capital leases and financing obligations for certain information technology equipment entered into	530	1,353
Current maturities of capital lease and financing obligations	1,812	1,829
Property and equipment acquired under capital leases and financing agreements	34,035	33,505
Property and equipment acquired under capital leases and financing agreements, accumulated amortization	4,067	3,339
Fulfillment Center [Member]
Capital Leased Assets [Line Items]
Capital lease term	20 years
Amount due under capital leases and financing agreements	$27,023
Minimum [Member] | Fulfillment Center [Member]
Capital Leased Assets [Line Items]
Capital lease, prepayment term with no penalty	7 years
Maximum [Member] | Fulfillment Center [Member]
Capital Leased Assets [Line Items]
Capital lease, prepayment term with no penalty	20 years

Shareholders_Equity_Details

Shareholders' Equity (Details) (USD $)	3 Months Ended		1 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Nov. 29, 2014	Nov. 30, 2013	Dec. 17, 2014
Components Of Shareholders Equity [Line Items]
Dividend payout	$208,781
Payment of special cash dividend	184,218
Payments of regular cash dividends	24,563	20,915
Dividend payable amount	1,343
Class A common stock shares repurchase amount, per share	$81.73
Subsequent Event [Member]
Components Of Shareholders Equity [Line Items]
Dividend declared date	17-Dec-14
Dividend declared, per share			$0.40
Dividend payable date	27-Jan-15
Dividend record date	13-Jan-15
Dividend payout			$24,749
Class A Common Stock [Member]
Components Of Shareholders Equity [Line Items]
Class A common stock shares repurchased	44
Class A Treasury Stock [Member]
Components Of Shareholders Equity [Line Items]
Maximum number of shares that may yet be repurchased	2,075
Class A common stock shares repurchased	44

Product_Warranties_Details

Product Warranties (Details)	3 Months Ended
	Nov. 29, 2014
Minimum [Member]
Product warranties with original equipment manufacturers	30 days
Maximum [Member]
Warranty period	1 year
Product warranties with original equipment manufacturers	90 days