MSC Industrial Direct (MSM) 10-Q 11 Jul 18 2018 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Jun. 02, 2018	Jun. 20, 2018
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 2, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Entity Registrant Name	MSC INDUSTRIAL DIRECT CO INC
Entity Central Index Key	1,003,078
Current Fiscal Year End Date	--09-01
Entity Filer Category	Large Accelerated Filer
Trading Symbol	msm
Class A Common Stock [Member]
Entity Common Stock, Shares Outstanding		46,061,325
Class B Common Stock [Member]
Entity Common Stock, Shares Outstanding		10,485,155

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands		Jun. 02, 2018	Sep. 02, 2017
Current Assets:
Cash and cash equivalents		$ 39,993	$ 16,083
Accounts receivable, net of allowance for doubtful accounts of $13,704 and $13,278, respectively		510,832	471,795
Inventories		512,303	464,959
Prepaid expenses and other current assets		53,057	52,742
Total current assets		1,116,185	1,005,579
Property, plant and equipment, net		311,264	316,305
Goodwill		672,785	633,728
Identifiable intangibles, net		125,773	110,429
Other assets		29,725	32,871
Total assets		2,255,732	2,098,912
Current Liabilities:
Short-term debt	[1]	284,217	331,986
Accounts payable		133,679	121,266
Accrued liabilities		110,597	104,473
Total current liabilities		528,493	557,725
Long-term debt		251,304	200,991
Deferred income taxes and tax uncertainties		76,881	115,056
Total liabilities		856,678	873,772
Commitments and Contingencies
Shareholders' Equity:
Preferred stock; $0.001 par value; 5,000,000 shares authorized; none issued and outstanding
Additional paid-in capital		663,399	626,995
Retained earnings		1,331,788	1,168,812
Accumulated other comprehensive loss		(18,968)	(17,263)
Class A treasury stock, at cost, 9,221,014 and 8,972,729 shares, respectively		(577,230)	(553,470)
Total shareholders' equity		1,399,054	1,225,140
Total liabilities and shareholders' equity		2,255,732	2,098,912
Class A Common Stock [Member]
Shareholders' Equity:
Common stock		55	54
Class B Common Stock [Member]
Shareholders' Equity:
Common stock		$ 10	$ 12
[1]	Net of unamortized debt issuance costs expected to be amortized in the next twelve months.

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Jun. 02, 2018	Sep. 02, 2017
Accounts receivable, allowance for doubtful accounts	$ 13,704	$ 13,278
Preferred stock, par value	$ 0.001	$ 0.001
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, at cost, shares	9,221,014	8,972,729
Class A Common Stock [Member]
Common stock, votes per share	1
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	55,282,339	53,513,806
Class B Common Stock [Member]
Common stock, votes per share	10
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	10,485,155	11,850,636
Common stock, shares outstanding	10,485,155	11,850,636

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 02, 2018	Jun. 03, 2017	Jun. 02, 2018	Jun. 03, 2017
Condensed Consolidated Statements Of Income [Abstract]
Net sales	$ 828,345	$ 743,923	$ 2,365,893	$ 2,133,974
Cost of goods sold	467,344	414,423	1,332,600	1,181,177
Gross profit	361,001	329,500	1,033,293	952,797
Operating expenses	245,619	227,724	720,530	673,776
Income from operations	115,382	101,776	312,763	279,021
Other (expense) income:
Interest expense	(3,532)	(3,361)	(10,319)	(9,245)
Interest income	108	169	484	496
Other (expense) income, net	(141)	(2)	(472)	(340)
Total other expense	(3,565)	(3,194)	(10,307)	(9,089)
Income before provision for income taxes	111,817	98,582	302,456	269,932
Provision for income taxes	32,748	35,746	46,250	99,249
Net income	$ 79,069	$ 62,836	$ 256,206	$ 170,683
Net income per common share:
Basic	$ 1.40	$ 1.10	$ 4.54	$ 3.01
Diluted	$ 1.39	$ 1.09	$ 4.51	$ 2.98
Weighted average shares used in computing net income per common share:
Basic	56,420	56,779	56,382	56,593
Diluted	56,804	57,264	56,733	57,028
Cash dividends declared per common share	$ 0.58	$ 0.45	$ 1.64	$ 1.35

Condensed Consolidated Stateme5

Condensed Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 02, 2018	Jun. 03, 2017	Jun. 02, 2018	Jun. 03, 2017
Condensed Consolidated Statements Of Comprehensive Income [Abstract]
Net income, as reported	$ 79,069	$ 62,836	$ 256,206	$ 170,683
Foreign currency translation adjustments	(889)	87	(1,705)	(2,161)
Comprehensive income	$ 78,180	$ 62,923	$ 254,501	$ 168,522

Condensed Consolidated Stateme6

Condensed Consolidated Statement Of Shareholders' Equity - 9 months ended Jun. 02, 2018 - USD ($) shares in Thousands, $ in Thousands	Restricted Share Awards [Member]Class A Common Stock [Member]	Restricted Stock Units [Member]Class A Common Stock [Member]	Restricted Stock Units [Member]Additional Paid-In Capital [Member]	Restricted Stock Units [Member]	Class A Common Stock [Member]Common Stock [Member]	Class A Common Stock [Member]Retained Earnings [Member]	Class A Common Stock [Member]	Class B Common Stock [Member]Common Stock [Member]	Class B Common Stock [Member]Retained Earnings [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
Balance, Value at Sep. 02, 2017					$ 54			$ 12			$ 626,995	$ 1,168,812	$ (17,263)	$ (553,470)	$ 1,225,140
Balance, Shares at Sep. 02, 2017							53,514			11,851				8,973
Exchange of Class B common stock for Class A common stock, shares							1,366			(1,366)
Exchange of Class B common stock for Class A common stock, value					1			(2)			1
Exercise of common stock options, Shares							325
Exercise of common stock options, Value											23,135				23,135
Common stock issued under associate stock purchase plan, Shares														(43)
Common stock issued under associate stock purchase plan, Value											1,774			$ 1,624	3,398
Issuance of restricted common stock, net of cancellations, Shares	(4)
Shares issued upon vesting of restricted stock units, including dividend equivalent units, Value			$ 219	$ 219
Shares issued upon vesting of restricted stock units, including dividend equivalent units, Shares		81
Stock-based compensation											11,275				11,275
Repurchases of common stock, Shares														291
Repurchases of common stock, Value														$ (25,384)	(25,384)
Net income												256,206			256,206
Cash dividends on common stock						$ (74,285)	$ (74,285)		$ (18,348)	$ (18,348)
Dividend equivalent units declared, net of cancellations												(597)			(597)
Foreign currency translation adjustment													(1,705)		(1,705)
Balance, Value at Jun. 02, 2018					$ 55			$ 10			$ 663,399	$ 1,331,788	$ (18,968)	$ (577,230)	$ 1,399,054
Balance, Shares at Jun. 02, 2018							55,282			10,485				9,221

Condensed Consolidated Stateme7

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Jun. 02, 2018	Jun. 03, 2017
Cash Flows from Operating Activities:
Net income	$ 256,206	$ 170,683
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	47,133	46,737
Stock-based compensation	11,275	10,375
Loss on disposal of property, plant, and equipment	280	317
Provision for doubtful accounts	4,956	4,713
Deferred income taxes and tax uncertainties	(41,199)
Write-off of deferred financing costs on previous credit facility		94
Changes in operating assets and liabilities:
Accounts receivable	(34,434)	(50,730)
Inventories	(26,740)	(22,834)
Prepaid expenses and other current assets	1,005	(4,547)
Other assets	3,191	2,259
Accounts payable and accrued liabilities	8,564	2,064
Total adjustments	(25,969)	(11,552)
Net cash provided by operating activities	230,237	159,131
Cash Flows from Investing Activities:
Expenditures for property, plant and equipment	(30,794)	(37,923)
Cash used in business acquisitions, net of cash received	(85,845)
Net cash used in investing activities	(116,639)	(37,923)
Cash Flows from Financing Activities:
Repurchases of common stock	(25,384)	(3,392)
Payments of cash dividends	(92,633)	(76,632)
Proceeds from sale of Class A common stock in connection with associate stock purchase plan	3,398	3,165
Proceeds from exercise of Class A common stock options	23,135	22,600
Borrowings under Credit Facility	172,000	439,000
Borrowings under Shelf Facility Agreement	50,000
Payments of notes payable and revolving credit note under the Credit Facility	(220,000)	(529,500)
Other, net	(225)	(1,707)
Net cash used in financing activities	(89,709)	(146,466)
Effect of foreign exchange rate changes on cash and cash equivalents	21	(54)
Net increase (decrease) in cash and cash equivalents	23,910	(25,312)
Cash and cash equivalents—beginning of period	16,083	52,890
Cash and cash equivalents—end of period	39,993	27,578
Supplemental Disclosure of Cash Flow Information:
Cash paid for income taxes	76,753	91,711
Cash paid for interest	$ 8,231	$ 7,350

Basis Of Presentation

Basis Of Presentation	9 Months Ended
	Jun. 02, 2018
Basis Of Presentation [Abstract]
Basis Of Presentation	Note 1. Basis of Presentation  The accompanying condensed consolidated financial statements include MSC Industrial Dire ct Co., Inc. (“MSC”) and all 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. Accordin gly, they do not include all 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 ( including normal recurring adjustments) have been included. Operating results for the thirteen and thirty-nine-week period s ended June 2, 2018 are not necessarily indicative of the results that may be expected for the fiscal year ending September 1, 2018 . 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 September 2, 2017 .   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 2018 fiscal year will be a 52 -week accounting period that will end on September 1, 2018 and its 2017 fiscal year was a 52 -week accounting period that ended on September 2, 2017 .  Recently Adopted Accounting Pronouncements  In July 201 5, the FASB issued its final standard on simplifying the measurement of inventory. This standard, issued as ASU 201 5-11, requires an entity to measure inventory at the lower of cost and net realizable value, which consists of the estimated selling prices in the ordinary course of business, less reasonably predictable cost s of completion, disposal, and transportation. The Company adopted ASU 2015-11 during the first quarter of fiscal 2018 and the adoption did not have any impact on its consolidated financial statements.  Accounting Pronouncements Not Yet Adopted  In May 2014, the FASB issued its final standard on the recognition of revenue from contracts with customers. This standard, issued as ASU 2014-09, outlines a single comprehensive model for entities to use in the accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry- specific guidance. The new standard is effective for the Company for its fiscal year 2019. Early adoption is permitted. The standard permits the use of either the retrospective or cumulative effect transition method. To date, the Company has performed a preliminary detailed review of key contracts and compared historical accounting policies and practices to the new standard. While the Company is still evaluating this standard, it is not expected to have a material impact on the Company’s consolidated financial statements. The Company will continue to evaluate ASU 2014-09 and other amendments and related interpretive guidance through the date of adoption. The Company expects to adopt ASU 2014-09 under the modified retrospective approach in the first quarter of fiscal 2019.  In February 2016, the FASB issued its final standard on accounting for leases. This standard, issued as ASU 2016-02, requires that an entity that is a lessee recognize lease assets and lease liabilities on the balance sheet for all leases and disclose key information about leasing arrangements. This update is effective for annual and interim financial statement periods beginning after December 15, 2018, with earlier application permitted. The new standard is effective for the Company for its fiscal year 2020. The Company is currently evaluating this standard to determine the impact of adoption on its consolidated financial statements.  In June 2016, the FASB issued its final standard on measurement of credit losses on financial instruments. This standard, issued as ASU 2016-13, requires that an entity measure impairment of certain financial instruments, including trade receivables, based on expected losses rather than incurred losses. This update is effective for annual and interim financial statement periods beginning after December 15, 2019, with early adoption permitted for financial statement periods beginning after December 15, 2018. The new standard is effective for the Company for its fiscal year 2020. The Company is currently evaluating this standard to determine the impact of adoption on its consolidated financial statements.  In January 2017, the FASB issued its final standard on simplifying the test for goodwill impairment. This standard, issued as ASU 2017-04, eliminates step 2 from the goodwill impairment test and instead requires an entity to perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An impairment charge would be recognized for the amount by which the carrying amount exceeds the reporting unit's fair value, not to exceed the total amount of goodwill allocated to that reporting unit. This update is effective for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019, with early adoption permitted. The new standard is effective for the Company for its fiscal year 2020. Upon adoption, the Company will apply this guidance prospectively to its annual and interim goodwill impairment tests and disclose the change in accounting principle.  In January 2017, the FASB issued its final standard on clarifying the definition of a business in business combinations. This standard, issued as ASU No. 2017-01, clarifies the definition of a business to assist entities with evaluating when a set of transferred assets and activities is considered a business. The amendment is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The new standard is effective for the Company for its fiscal year 2019, with early adoption permitted. The amendments are to be applied prospectively to business combinations that occur after the effective date.  Other pronouncements issued by the FASB or other authoritative accounting standards groups with future effective dates are either not applicable or are not expected to be significant to the Company’s financial position, results of operations or cash flows.  Reclassification  Certain of the prior period Cash Flows from Financing Activities line items were reclassified into “Other, Net” within our condensed consolidated statements of cash flows to conform to our current period presentation. These reclassifications did not affect the total amount of Cash Flows from Financing Activities. 

Net Income Per Share

Net Income Per Share	9 Months Ended
	Jun. 02, 2018
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 Ac counting 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 shar es 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. The following table sets forth the computation of basic and diluted net income per common share under the two-class method for the thirteen and thirty-nine weeks ended June 2, 2018 and June 3, 2017 , respectively:    Thirteen Weeks Ended Thirty-Nine Weeks Ended  June 2, June 3, June 2, June 3,  2018 2017 2018 2017  Net income as reported $ 79,069 $ 62,836 $ 256,206 $ 170,683  Less: Distributed net income available to participating securities (14) (39) (73) (151)  Less: Undistributed net income available to participating securities (56) (107) (248) (309)  Numerator for basic net income per share:  Undistributed and distributed net income available to common shareholders $ 78,999 $ 62,690 $ 255,885 $ 170,223  Add: Undistributed net income allocated to participating securities 56 107 248 309  Less: Undistributed net income reallocated to participating securities (55) (106) (247) (307)   Numerator for diluted net income per share:  Undistributed and distributed net income available to common shareholders $ 79,000 $ 62,691 $ 255,886 $ 170,225  Denominator:  Weighted average shares outstanding for basic net income per share 56,420 56,779 56,382 56,593  Effect of dilutive securities 384 485 351 435  Weighted average shares outstanding for diluted net income per share 56,804 57,264 56,733 57,028  Net income per share Two-class method:  Basic $ 1.40 $ 1.10 $ 4.54 $ 3.01  Diluted $ 1.39 $ 1.09 $ 4.51 $ 2.98  There were no antidilutive stock options included in the computation of diluted earnings per share for the thirteen and thirty-nine-week periods ended June 2, 2018 and June 3, 2017, respectively.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Jun. 02, 2018
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"). S tock ‑based compensation expense included in operating expenses for the thirteen and thirty-nine-week periods ended June 2, 2018 and June 3, 2017 was as follows:    Thirteen Weeks Ended Thirty-Nine Weeks Ended  June 2, June 3, June 2, June 3,  2018 2017 2018 2017  Stock options $ 1,132 $ 1,088 $ 3,455 $ 3,275  Restricted share awards 658 998 2,230 3,332  Restricted stock units 1,827 1,286 5,401 3,561  Associate Stock Purchase Plan 68 78 189 207  Total 3,685 3,450 11,275 10,375  Deferred income tax benefit (1,080) (1,311) (3,304) (3,943)  Stock-based compensation expense, net $ 2,605 $ 2,139 $ 7,971 $ 6,432  Stock options  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:    Thirty-Nine Weeks Ended  June 2, June 3,  2018 2017  Expected life (in years) 4.0 4.1  Risk-free interest rate 1.87 % 1.16 %  Expected volatility 22.13 % 20.50 %  Expected dividend yield 2.30 % 2.40 %  Weighted-average grant-date fair value $12.25 $9.29  A summary of the Company’s stock option activity for the thirty-nine-week period ended June 2, 2018 is as follows:    Options Weighted-Average Exercise Price per Share Weighted-Average Remaining Contractual Term (in years) Aggregate Intrinsic Value  Outstanding on September 2, 2017 1,743 $ 70.88  Granted 436 79.60  Exercised (325) 71.20  Canceled/Forfeited (65) 72.32  Outstanding on June 2, 2018 1,789 $ 72.90 4.7 $ 33,628  Exercisable on June 2, 2018 682 $ 73.77 3.5 $ 12,219  The unrecognized share ‑based compensation cost related to stock option expense at June 2, 2018 was $8,734 and will be recognized over a weighted average period of 2.4 years. The total intrinsic va lue of options exercised, which represents the difference between the exercise price and market value of common stock measured at each individual exercise d ate, during the thirty-nine -week periods ended June 2, 2018 and June 3, 2017 was $7,234 and $9,232 , respectively.            Restricted share awards  A summary of the non ‑vested restricted share award (“RSA”) activity under the Company’s 2005 Omnibus Incentive Plan and 2015 Omnibus Incentive Plan for the thirty-nine -week period ended June 2, 2018 is as follows:   Shares Weighted-Average Grant-Date Fair Value  Non-vested restricted share awards at September 2, 2017 160 $ 80.49  Granted — —  Vested (90) 79.36  Canceled/Forfeited (4) 82.40  Non-vested restricted share awards at June 2, 2018 66 $ 81.75  The fair value of each RSA is the closing stock price on the NYSE of the Company’s Class A common stock on the date of grant. Upon vesting, a portion of the RSA award may be withheld to satisfy the statutory income tax withholding obligation. The remaining RSAs will be settled in shares of the Company’s Class A common stock when vested. The unrecognized share-based compensation cost related to RSAs at June 2, 2018 was $2,632 and will be recognized over a weighted average period of 1.2 years.  Restricted stock units  A summa ry of the Company’s non-vested Restricted Stock U nit (“RSU”) award activity for the thirty-nine-week period ended June 2, 2018 is as follows:    Shares Weighted-Average Grant-Date Fair Value  Non-vested restricted stock unit awards at September 2, 2017 313 $ 66.66  Granted 169 81.13  Vested (80) 66.68  Canceled/Forfeited (22) 71.44  Non-vested restricted stock unit awards at June 2, 2018 380 $ 72.81  The fair value of each RSU is the closing stock price on the N YSE of the Company’s Class A common stock on the date of grant. Upon vesting, a portion of the RSU award may be withheld to satisfy the statutory income tax withholding obligation . The remaining RSUs will be settled in shares of the Company’s Class A common stock when vested . These awards accrue dividend equivalents on outstanding units (in the form of additional stock units) based on dividends declared on the Company’s Class A common stock and these dividend equivalents convert to unrestricted common stock on the vesting dates of the underlying RSUs . The dividend equivalents are not included in the RSU table above. The unrecognized share-based compensation cost related to the RSUs at June 2, 2018 was $22,998 and is expected to be recognized over a weighted average period of 3.4 years.

Fair Value

Fair Value	9 Months Ended
	Jun. 02, 2018
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 m arkets .  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 co nstruction of the Company’s customer fulfillment center (“CFC”) in Columbus, Ohio, the Company entered into an arrangement during fiscal 2013 with the Columbus-Franklin County Finance Authority (“Finance Authority”) which provides savings on state and local sales taxes imposed on construction materials purchased by entities that finance the transactions through them. Under this arrangement, the Finance Authority issued taxable bonds to finance the structure and site improvements of the Company’s CFC. The bonds ( $27,025 outstanding at both June 2, 2018 and September 2, 2017 ) are classified as available for sale securities in accordance with ASC Topic 320. The securities are recorded at fair value in Other Assets in the Condensed 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 gains or losses on these securities during the thirteen and thirty-nine -week period s ended June 2, 2018 . 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 short-term and long-term deb t 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 a s of June 2, 2018 and September 2, 2017 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 June 2, 2018 and September 2, 2017 due to the short-term maturity of these items.  During the thirty-nine weeks ended June 2, 2018 and June 3, 2017 , the Company had no remeasurement s of non-financial assets or liabilities at fair value on a non-recurring basis subsequent to their initial recognition.

Business Combination

Business Combination	9 Months Ended
	Jun. 02, 2018
Business Combination [Abstract]
Business Combination	Note 5 . Business Combination  On April 30, 2018 , the Company acquired 100 percent of the outstanding shares of privately held Accurate Holding, Inc., a holding company whose subsidiaries do business under the name, All Integrated Solutions (“AIS”). AIS is a leading value-adde d distributor of industrial fasteners and components, MRO supplies and assembly tools headquartered in Franksville, Wisconsin . T otal cash consideration paid was $86,693 , subject to certain post-closing adjustments , and the acquisition was funded from available cash re sources and borrowings under the Credit Facility .  AIS delivers production fasteners and custom tool and fastener solutions for use in the assembly of manufactured commercial and consumer products serving customers primarily in the Midwest region. The Company plans to provide AIS’s customer base access to its product portfolio to support their full metalworking and MRO needs. Similarly, the Company will extend AIS's production fastener and Vendor Managed Inventory ( “ VMI ” ) solutions to its manufacturing customers.  The acquisition of AIS was accounted for as a business purchase pursuant to ASC Topic 805, “Business Combinations” (“ASC 805”). Non-recurring transaction and integration costs totaling $682 are included in the Company’s condensed consolidated statement of income as operating expenses f or the thirteen and thirty-nine- week periods ended June 2, 2018. As required by ASC 805-20, the Company allocated the purchase price to assets and liabilities based on their estimated fair value at the acquisition date. The Company’s purchase accounting as of June 2, 2018 is preliminary primarily due to the pending final valuation and an expected working capital adjustment to the purchase price.  The following table summarizes the amounts of identified assets acquired and liabilities assumed based on the estimated fair value at the acquisition date:     Cash and cash equivalents $ 1,586  Inventories 20,629  Accounts receivable 9,834  Prepaid expenses and other current assets 1,303  Identifiable intangibles 23,200  Goodwill 39,574  Property, plant and equipment 1,561  Other assets 121  Total Assets Acquired $ 97,808  Accounts payable 3,119  Accrued liabilities 4,971  Deferred income taxes and tax uncertainties 3,025  Total Liabilities Assumed $ 11,115  Net Assets Acquired $ 86,693  Acquired intangible assets with a fair value of $23,200 consisted of customer relationships of $21,000 with a useful life of 10 years and a trade mark of $2,200 with a useful life of 5 years. The goodwill amount of $39,574 represents the excess of the purchase price over the fair value of the net tangible and intangible assets acquired. The primary items that generated the goodwill were the premiums paid by the Company for the right to control the business acquired and benefit from adding a highly complementary provider of production fasteners and custom tool and fastener solutions and services with an experienced field sales force and VMI solution. This goodwill will not be amortized and will be included in the Company’s periodic test for impairment at least annually . The amount of g oodwill d eductible for tax purposes was $4,900.  The amount of revenue and loss before provision for income taxes from AIS included in the condensed consolidated statements of income for both the thirteen and thirt y-nine-week periods ended June 2 , 201 8 was $6,725 and ( $1,719 ) , respectively.

Goodwill And Other Intangible A

Goodwill And Other Intangible Assets	9 Months Ended
	Jun. 02, 2018
Goodwill And Other Intangible Assets [Abstract]
Goodwill And Other Intangible Assets	Note 6 . Goodwill and Other Intangible Assets  The change in the carrying amount of goodwill is as follows:    Balance as of September 2, 2017 $ 633,728  AIS acquisition 39,574  Post-closing working capital adjustment from acquisition of DECO Tool Supply Co. 738  Foreign currency translation adjustment (1,255)  Balance as of June 2, 2018 $ 672,785  The components of the Company’s other intangible assets for the thirty-nine-week period ended June 2, 2018 and for the fiscal year ended September 2, 2017 are as follows:   June 2, 2018 September 2, 2017  Weighted Average Useful Life (in years) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization  Customer Relationships 5 - 18 $ 208,260 $ (99,229) $ 187,260 $ (92,381)  Contract Rights 10 23,100 (23,100) 23,100 (23,100)  Trademark 1 - 5 6,692 (4,105) 4,403 (3,058)  Trademarks Indefinite 14,155 — 14,205 —  Total $ 252,207 $ (126,434) $ 228,968 $ (118,539)  For the thirty-nine-week period ended June 2, 2018, the Company recorded approximately $23,285 of intangible assets, primarily consisting of the acquired customer relationships and trademark from the AIS acquisition. See Note 5 “Business Combin ation.” During the thirty-nine- week period ended June 2 , 2018, approximately $46 in gross intangible assets, and any related accumulated amortization, were written off related to trademarks that are no longer being utilized.  The Company’s amortizable intangible assets are recorded on a straight-line basis, including customer relationships, as it approximates customer attrition patterns and best estimates the use pattern of the asset. Amortization expense of the Company’s intangible assets was $7,541 and $6,007 for the thirty-nine-week periods ended June 2, 2018 and June 3, 2017, respectively. The Company expects amortization expense to be approximately $2,975 for the remainder of fiscal 2018 and for each of the five succeeding fiscal years as follows :     Fiscal Year  2019 $ 11,194  2020 10,217  2021 9,534  2022 9,520  2023 9,375 

Debt And Capital Lease Obligati

Debt And Capital Lease Obligations	9 Months Ended
	Jun. 02, 2018
Debt And Capital Lease Obligations [Abstract]
Debt And Capital Lease Obligations	Note 7 . Debt and Capital Lease Obligations  Debt at June 2, 2018 and September 2, 2017 consisted of the following:    June 2, September 2,  2018 2017  (Dollars in thousands)  Revolving Credit Facility $ 284,000 $ 332,000  Private Placement Debt:  Senior notes, series A 75,000 75,000  Senior notes, series B 100,000 100,000  Shelf Facility Agreement 50,000 -  Capital lease and financing obligations 28,163 27,829  Subtotal $ 537,163 $ 534,829  Less: unamortized debt issuance costs (1,642) (1,852)  Total debt $ 535,521 $ 532,977  Less: short-term debt (1) (284,217) (331,986)  Long-term debt $ 251,304 $ 200,991 ____________________ (1) Net of unamortized debt issuance costs expected to be amortized in the next twelve months.  Credit Facility  In April 2017, the Company entered into a $600,000 credit facility (the “ Credit Facility”). The Credit Facility, which matures on April 14, 2022 , provides for a five -year unsecured revolving loan facility.  The Credit Facility permits up to $50,000 to be used to fund letters of credit. The Credit Facility also permits the Company to request one or more incremental term loan facilities and/or increase the revolving loan commitments in an aggregate amount not to exceed $300,000 . 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.  The interest ra te is based on either LIBOR or a base rate, plus in either case a spread based on our leverage ratio at the end of each f iscal reporting quarter. The weighted average applicable borrowing rate for any borrowings outstanding under the Credit Facility at June 2, 2018 was 3.03% which represents LIBOR plus 1.125% . Based on the interest period the Company selects, interest may b e payable every one, two, or three 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.  During the thirty-nine-week period ended June 2, 2018 , the Company borrowed $172,000 and repaid $220,000 under the Credit Facility. Private Placement Debt  In July 201 6, the Company completed the issuance and sale of $75,000 aggregate principal amount of 2.65% Senior Notes, Series A, due July 28, 2023 and $100,000 aggregate principal amount of 2.90% Senior Notes, Series B, due July 28, 2026 (collecti vely “Private Placement Debt”). Interest is payable semiannually at the fixed stated interest rates.  Shelf Facility Agreements  In January 2018, the Company entered into Note Purchase and Private Shelf Agreements with Metropolitan Life Insurance Company (“ Met Life Note Purchase Agreement” ) and PGIM, Inc. (“Prudential Note Purchase Agreement” and together with the Met Life Note Purchase Agreement, the “Shelf Facility Agreements”).  The Met Life Note Purchase Agreement provides for an uncommitted facility for the issuance and sale of up to an aggregate total of $250,000 of senior notes, at either fixed or floating rates. As of June 2, 2018, the Company has not issued any notes under the Met Life Note Purchase Agreement.  The Prudential Note Purchase Agreement provides for an uncommitted facility for the issuance and sale of up to an aggregate total of $250,000 of senior notes, at a fixed rate. In January 2018, the Company completed the issuance and sale of $50,000 aggregate principal amount of 3.04% Senior Notes due January 12, 2023 under the Prudential Note Purchase Agreement in a private placement exempt from the registration requirements of the Securities Act of 1933, as amended. Interest is payable semiannually. As of June 2, 2018, the aggregate availability under the Prudential Note Purchase Agreement is $200,000 .  Each of the Credit Facility, Private Placement Debt, and Shelf Facility Agreements contain 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 (or, at the election of the Company after it consummates a material acquisition, a four-quarter temporary increase to 3.50 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 terms of the Credit Facility, Private Placement Debt and Shelf Facility Agreements. At June 2, 2018 , the Company was in compliance with the operating and financial covenants of the Credit Facility, Private Placement Debt, and Shelf Facility Agreements.  Capital Lease and Financing Obligations  In connection with the construction of the Company’s CFC in Columbus, Ohio in fiscal 2013, 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 June 2, 2018 and September 2, 2017 , the capital lease obligation was approximately $27,025 .  From time to time, the Company enters into capital leases and financing arrangements with vendors to purchase certain information technology equipment or software. The equipment or software acquired from these vendors is paid for over a specified period of time based on the terms agr eed upon. During the thirty-nine-week period ended June 2, 2018, the Company entered into capital lease and financing obligations related to certain IT equipment and software totaling $1,163 . The gross amount of property and equipment acquired under the capital lease obligation at June 2, 2018 was approximately $442 . There is no related accumulated amortization for this capital lease as of June 2, 2018.

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Jun. 02, 2018
Shareholders' Equity [Abstract]
Shareholders' Equity	Note 8. Shareholders’ Equity  On June 19, 2018 , the Board of Directors declared a quarterly cash dividend of $0.58 per share payable on July 24, 2018 to shareholders of record at the close of business on July 10, 2018 . The dividend will result in a payout of approximately $ 32,797 , based on the number of shares outstanding at June 20, 2018. On January 9, 2018, the Board of Directors authorized the repurchase of an additional 2,000 shares of Class A common stock under the Company’s ongoing Stock Repurchase Plan . During the thirty-nine -week period ended June 2, 2018 , the Company repurchased 291 shares of its Class A common stock for $25,384 , which is reflected at cost as treasury stock in the accompanying condensed consolidated financial statements. Of these shares, 53 shares were repurchased by the Company to satisfy the Company’s associates’ tax withholding liability associated with its share-based compensation program. T he total number of shares of Class A common stock authorized for future repurchase was approximately 2,565 shares at June 2, 2018 .

Product Warranties

Product Warranties	9 Months Ended
	Jun. 02, 2018
Product Warranties [Abstract]
Product Warranties	Note 9 . 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 wa rranty expense for the thirteen and thirty-nine-week periods ended June 2, 2018 and June 3, 2017 was minimal.

Income Taxes

Income Taxes	9 Months Ended
	Jun. 02, 2018
Income Taxes [Abstract]
Income Taxes	Note 10. Income Taxes  On December 22, 2017, the Tax Reform Act was enacted. The Tax Reform Act made significant changes to U.S. federal income tax laws including permanently lowering the U.S. corporate income tax rate from 35% to 21% effective January 1, 2018. As the Company has a fiscal August year-end, the lower corporate income tax rate will be phased in, resulting in a U.S. statutory rate of 25.7% for the fiscal year ending September 1, 2018. The Company’s statutory federal tax rate will be 21.0% for fiscal years 2019 and beyond. U.S. GAAP requires that the impact of tax legislation be recognized in the period in which the law was enacted.  In December 2017, the SEC issued Staff Accounting Bulletin No. 118, which allows a company to report provisional numbers related to the Tax Reform Act and adjust those amounts during a measurement period not to extend beyond one year. The Company recorded a one-time provisional net tax benefit of $41,199 due to the revaluation of its net deferred tax liabilities primarily related to the lower federal corporate tax rate, partially offset by the lower federal benefit for state taxes and the change from a worldwide tax system to a territorial tax system in its fiscal second quarter of 2018. In addition, applying the reduced effective tax rate of 29.3% , including state taxes and which excludes discrete items, to the first half of the fiscal year earnings resulted in a $16,929 reduction to tax expense. The amounts recorded are provisional and are subject to change due to further interpretations of the Tax Reform Act, legislative action to address questions that arise because of the Tax Reform Act, and/or any updates or changes to estimates the Company has utilized to calculate the impacts, such as return to accrual adjustments and/or changes to current year earnings estimates and the Company’s ongoing analysis of the Tax Reform Act.  During the thirty-nine -week period ended June 2, 2018 , there were no material changes in unrecognized tax benefits.

Legal Proceedings

Legal Proceedings	9 Months Ended
	Jun. 02, 2018
Legal Proceedings [Abstract]
Legal Proceedings	Note 11 . Legal Proceedings  There are various claims, lawsuits, and pending actions against the Company inc idental 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. 

Subsequent Events

Subsequent Events	9 Months Ended
	Jun. 02, 2018
Subsequent Event [Abstract]
Subsequent Events	Note 12 . Subsequent Event  On June 11, 2018, the Company completed the issuance and sale of (i) (x) $20,000 aggregate principal amount of its 3.22% Senior Notes, Series 2018A, due June 11, 2020 and (y) $20,000 aggregate principal amount of its 3.42% Senior Notes, Series 2018B, due June 11, 2021 under the Met Life Note Purchase Agreement and (ii) $20,000 aggregate principal amount of its 3.79% Senior Notes due June 11, 2025 under a new Note Purchase Agreement, dated June 11, 2018, by and between the Company and certain parties related to NYL Investors LLC. 

Net Income Per Share (Tables)

Net Income Per Share (Tables)	9 Months Ended
	Jun. 02, 2018
Net Income Per Share [Abstract]
Basic And Diluted Net Income Per Common Share Under The Two-Class Method	  Thirteen Weeks Ended Thirty-Nine Weeks Ended  June 2, June 3, June 2, June 3,  2018 2017 2018 2017  Net income as reported $ 79,069 $ 62,836 $ 256,206 $ 170,683  Less: Distributed net income available to participating securities (14) (39) (73) (151)  Less: Undistributed net income available to participating securities (56) (107) (248) (309)  Numerator for basic net income per share:  Undistributed and distributed net income available to common shareholders $ 78,999 $ 62,690 $ 255,885 $ 170,223  Add: Undistributed net income allocated to participating securities 56 107 248 309  Less: Undistributed net income reallocated to participating securities (55) (106) (247) (307)   Numerator for diluted net income per share:  Undistributed and distributed net income available to common shareholders $ 79,000 $ 62,691 $ 255,886 $ 170,225  Denominator:  Weighted average shares outstanding for basic net income per share 56,420 56,779 56,382 56,593  Effect of dilutive securities 384 485 351 435  Weighted average shares outstanding for diluted net income per share 56,804 57,264 56,733 57,028  Net income per share Two-class method:  Basic $ 1.40 $ 1.10 $ 4.54 $ 3.01  Diluted $ 1.39 $ 1.09 $ 4.51 $ 2.98 

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Jun. 02, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule Of Stock-Based Compensation Expense	   Thirteen Weeks Ended Thirty-Nine Weeks Ended  June 2, June 3, June 2, June 3,  2018 2017 2018 2017  Stock options $ 1,132 $ 1,088 $ 3,455 $ 3,275  Restricted share awards 658 998 2,230 3,332  Restricted stock units 1,827 1,286 5,401 3,561  Associate Stock Purchase Plan 68 78 189 207  Total 3,685 3,450 11,275 10,375  Deferred income tax benefit (1,080) (1,311) (3,304) (3,943)  Stock-based compensation expense, net $ 2,605 $ 2,139 $ 7,971 $ 6,432 
Schedule Of Option Grant Fair Value Assumptions	  Thirty-Nine Weeks Ended  June 2, June 3,  2018 2017  Expected life (in years) 4.0 4.1  Risk-free interest rate 1.87 % 1.16 %  Expected volatility 22.13 % 20.50 %  Expected dividend yield 2.30 % 2.40 %  Weighted-average grant-date fair value $12.25 $9.29 
Summary Of Stock Option Activity	  Options Weighted-Average Exercise Price per Share Weighted-Average Remaining Contractual Term (in years) Aggregate Intrinsic Value  Outstanding on September 2, 2017 1,743 $ 70.88  Granted 436 79.60  Exercised (325) 71.20  Canceled/Forfeited (65) 72.32  Outstanding on June 2, 2018 1,789 $ 72.90 4.7 $ 33,628  Exercisable on June 2, 2018 682 $ 73.77 3.5 $ 12,219 
Restricted Share Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary Of Non-Vested Restricted Share Award Activity	  Shares Weighted-Average Grant-Date Fair Value  Non-vested restricted share awards at September 2, 2017 160 $ 80.49  Granted — —  Vested (90) 79.36  Canceled/Forfeited (4) 82.40  Non-vested restricted share awards at June 2, 2018 66 $ 81.75 
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary Of Non-Vested Restricted Stock Unit Award Activity	  Shares Weighted-Average Grant-Date Fair Value  Non-vested restricted stock unit awards at September 2, 2017 313 $ 66.66  Granted 169 81.13  Vested (80) 66.68  Canceled/Forfeited (22) 71.44  Non-vested restricted stock unit awards at June 2, 2018 380 $ 72.81 

Business Combination (Tables)

Business Combination (Tables)	9 Months Ended
	Jun. 02, 2018
Business Combination [Abstract]
Summary Of Purchase Price Allocation	   Cash and cash equivalents $ 1,586  Inventories 20,629  Accounts receivable 9,834  Prepaid expenses and other current assets 1,303  Identifiable intangibles 23,200  Goodwill 39,574  Property, plant and equipment 1,561  Other assets 121  Total Assets Acquired $ 97,808  Accounts payable 3,119  Accrued liabilities 4,971  Deferred income taxes and tax uncertainties 3,025  Total Liabilities Assumed $ 11,115  Net Assets Acquired $ 86,693 

Goodwill And Other Intangible23

Goodwill And Other Intangible Assets (Tables)	9 Months Ended
	Jun. 02, 2018
Goodwill And Other Intangible Assets [Abstract]
Change In The Carrying Amount Of Goodwill	   Balance as of September 2, 2017 $ 633,728  AIS acquisition 39,574  Post-closing working capital adjustment from acquisition of DECO Tool Supply Co. 738  Foreign currency translation adjustment (1,255)  Balance as of June 2, 2018 $ 672,785 
Schedule Of Other Intangible Assets	  June 2, 2018 September 2, 2017  Weighted Average Useful Life (in years) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization  Customer Relationships 5 - 18 $ 208,260 $ (99,229) $ 187,260 $ (92,381)  Contract Rights 10 23,100 (23,100) 23,100 (23,100)  Trademark 1 - 5 6,692 (4,105) 4,403 (3,058)  Trademarks Indefinite 14,155 — 14,205 —  Total $ 252,207 $ (126,434) $ 228,968 $ (118,539)  
Schedule Of Estimated Amortization Expense	   Fiscal Year  2019 $ 11,194  2020 10,217  2021 9,534  2022 9,520  2023 9,375 

Debt And Capital Lease Obliga24

Debt And Capital Lease Obligations (Tables)	9 Months Ended
	Jun. 02, 2018
Debt And Capital Lease Obligations [Abstract]
Schedule Of Debt	  June 2, September 2,  2018 2017  (Dollars in thousands)  Revolving Credit Facility $ 284,000 $ 332,000  Private Placement Debt:  Senior notes, series A 75,000 75,000  Senior notes, series B 100,000 100,000  Shelf Facility Agreement 50,000 -  Capital lease and financing obligations 28,163 27,829  Subtotal $ 537,163 $ 534,829  Less: unamortized debt issuance costs (1,642) (1,852)  Total debt $ 535,521 $ 532,977  Less: short-term debt (1) (284,217) (331,986)  Long-term debt $ 251,304 $ 200,991 ____________________ (1) Net of unamortized debt issuance costs expected to be amortized in the next twelve months. 

Net Income Per Share (Details)

Net Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 02, 2018	Jun. 03, 2017	Jun. 02, 2018	Jun. 03, 2017
Net Income Per Share [Abstract]
Net income as reported	$ 79,069	$ 62,836	$ 256,206	$ 170,683
Less: Distributed net income available to participating securities	(14)	(39)	(73)	(151)
Less: Undistributed net income available to participating securities	(56)	(107)	(248)	(309)
Undistributed and distributed net income available to common shareholders	78,999	62,690	255,885	170,223
Add: Undistributed net income allocated to participating securities	56	107	248	309
Less: Undistributed net income reallocated to participating securities	(55)	(106)	(247)	(307)
Undistributed and distributed net income available to common shareholders	$ 79,000	$ 62,691	$ 255,886	$ 170,225
Weighted average shares outstanding for basic net income per share	56,420,000	56,779,000	56,382,000	56,593,000
Effect of dilutive securities	384,000	485,000	351,000	435,000
Weighted average shares outstanding for diluted net income per share	56,804,000	57,264,000	56,733,000	57,028,000
Basic	$ 1.40	$ 1.10	$ 4.54	$ 3.01
Diluted	$ 1.39	$ 1.09	$ 4.51	$ 2.98
Antidilutive stock options	0	0	0	0

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) $ in Thousands	9 Months Ended
	Jun. 02, 2018	Jun. 03, 2017
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share-based compensation cost	$ 8,734
Unrecognized share-based compensation weighted average period	2 years 4 months 24 days
Total intrinsic value of options exercised	$ 7,234	$ 9,232
Restricted Share Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share-based compensation cost	$ 2,632
Unrecognized share-based compensation weighted average period	1 year 2 months 12 days
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share-based compensation cost	$ 22,998
Unrecognized share-based compensation weighted average period	3 years 4 months 24 days

Stock-Based Compensation (Sched

Stock-Based Compensation (Schedule Of Stock-Based Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 02, 2018	Jun. 03, 2017	Jun. 02, 2018	Jun. 03, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 3,685	$ 3,450	$ 11,275	$ 10,375
Deferred income tax benefit	(1,080)	(1,311)	(3,304)	(3,943)
Stock-based compensation expense, net	2,605	2,139	7,971	6,432
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	1,132	1,088	3,455	3,275
Restricted Share Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	658	998	2,230	3,332
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	1,827	1,286	5,401	3,561
Associate Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 68	$ 78	$ 189	$ 207

Stock-Based Compensation (Sch28

Stock-Based Compensation (Schedule Of Option Grant Fair Value Assumptions) (Details) - $ / shares	9 Months Ended
	Jun. 02, 2018	Jun. 03, 2017
Stock-Based Compensation [Abstract]
Expected life (in years)	4 years	4 years 1 month 6 days
Risk-free interest rate	1.87%	1.16%
Expected volatility	22.13%	20.50%
Expected dividend yield	2.30%	2.40%
Weighted-average grant-date fair value	$ 12.25	$ 9.29

Stock-Based Compensation (Summa

Stock-Based Compensation (Summary Of Stock Option Activity) (Details) - Stock Options [Member] $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended
	Jun. 02, 2018USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, Beginning Balance, Options | shares	1,743
Granted, Options | shares	436
Exercised, Options | shares	(325)
Canceled/Forfeited, Options | shares	(65)
Outstanding, Ending Balance, Options | shares	1,789
Exercisable, Ending Balance, Options | shares	682
Outstanding, Beginning Balance, Weighted-Average Exercise Price per Share | $ / shares	$ 70.88
Granted, Weighted-Average Exercise Price per Share | $ / shares	79.60
Exercised, Weighted-Average Exercise Price per Share | $ / shares	71.20
Canceled/Forfeited, Weighted-Average Exercise Price per Share | $ / shares	72.32
Outstanding, Ending Balance, Weighted-Average Exercise Price per Share | $ / shares	72.90
Exercisable, Ending Balance, Weighted-Average Exercise Price per Share | $ / shares	$ 73.77
Outstanding, Ending Balance, Weighted-Average Remaining Contractual Term (in years)	4 years 8 months 12 days
Exercisable, Ending Balance, Weighted-Average Remaining Contractual Term (in years)	3 years 6 months
Outstanding, Ending Balance, Aggregate Intrinsic Value | $	$ 33,628
Exercisable, Ending Balance, Aggregate Intrinsic Value | $	$ 12,219

Stock-Based Compensation (Sum30

Stock-Based Compensation (Summary Of Non-Vested Restricted Share Award Activity) (Details) shares in Thousands	9 Months Ended
	Jun. 02, 2018$ / sharesshares
Restricted Share Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested restricted share awards, Beginning balance, Shares | shares	160
Vested, Shares | shares	(90)
Canceled/Forfeited, Shares | shares	(4)
Non-vested restricted share awards, Ending balance, Shares | shares	66
Non-vested restricted share awards, Beginning balance, Weighted-Average Grant-Date Fair Value | $ / shares	$ 80.49
Vested, Weighted-Average Grant-Date Fair Value | $ / shares	79.36
Canceled/Forfeited, Weighted-Average Grant-Date Fair Value | $ / shares	82.40
Non-vested restricted share awards, Ending balance, Weighted-Average Grant-Date Fair Value | $ / shares	$ 81.75
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested restricted share awards, Beginning balance, Shares | shares	313
Granted, Shares | shares	169
Vested, Shares | shares	(80)
Canceled/Forfeited, Shares | shares	(22)
Non-vested restricted share awards, Ending balance, Shares | shares	380
Non-vested restricted share awards, Beginning balance, Weighted-Average Grant-Date Fair Value | $ / shares	$ 66.66
Granted, Weighted-Average Grant-Date Fair Value | $ / shares	81.13
Vested, Weighted-Average Grant-Date Fair Value | $ / shares	66.68
Canceled/Forfeited, Weighted-Average Grant-Date Fair Value | $ / shares	71.44
Non-vested restricted share awards, Ending balance, Weighted-Average Grant-Date Fair Value | $ / shares	$ 72.81

Fair Value (Details)

Fair Value (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Jun. 02, 2018	Jun. 02, 2018	Jun. 03, 2017	Sep. 02, 2017
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Taxable bonds	$ 27,025	$ 27,025		$ 27,025
Gains and losses on securities	$ 0	0
Fair value of non-financial assets on non-recurring basis		0	$ 0
Fair value of non-financial liabilities on non-recurring basis		$ 0	$ 0
Corporate Bond Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate on bonds	2.40%	2.40%

Business Combination (Narrative

Business Combination (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Jun. 02, 2018	Jun. 02, 2018	Sep. 02, 2017
Business Acquisition [Line Items]
Non-recurring transaction and integration costs		$ 682
Goodwill	$ 672,785	$ 672,785	$ 633,728
All Integrated Solutions ("AIS") [Member]
Business Acquisition [Line Items]
Interest acquired	100.00%	100.00%
Acquisition date		Apr. 30, 2018
Payments to acquire business		$ 86,693
Acquired intangible assets	$ 23,200	23,200
Customer relationships	21,000	21,000
Finite lived trademark	2,200	2,200
Goodwill	39,574	39,574
Tax deductible goodwill	4,900	4,900
Revenue of acquiree	6,725	6,725
Loss of acquiree	$ 1,719	$ 1,719
All Integrated Solutions ("AIS") [Member] | Customer Relationships [Member]
Business Acquisition [Line Items]
Acquired intangible assets useful life		10 years
All Integrated Solutions ("AIS") [Member] | Trademark [Member]
Business Acquisition [Line Items]
Acquired intangible assets useful life		5 years

Business Combination (Summary O

Business Combination (Summary Of Purchase Price Allocation) (Details) - USD ($) $ in Thousands	Jun. 02, 2018	Sep. 02, 2017
Business Acquisition [Line Items]
Goodwill	$ 672,785	$ 633,728
All Integrated Solutions ("AIS") [Member]
Business Acquisition [Line Items]
Cash and cash equivalents	1,586
Inventories	20,629
Accounts receivable	9,834
Prepaid expenses and other current assets	1,303
Identifiable intangibles	23,200
Goodwill	39,574
Property, plant and equipment	1,561
Other assets	121
Total assets acquired	97,808
Accounts payable	3,119
Accrued liabilities	4,971
Deferred income taxes and tax uncertainties	3,025
Total Liabilities Assumed	11,115
Net Assets Acquired	$ 86,693

Goodwill And Other Intangible34

Goodwill And Other Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands	9 Months Ended
	Jun. 02, 2018	Jun. 03, 2017
Goodwill And Other Intangible Assets [Abstract]
Acquired intangible assets	$ 23,285
Write-off of intangibles	46
Amortization expense	7,541	$ 6,007
Amortization Of Intangible Assets For Remainder Of Fiscal Year	$ 2,975

Goodwill And Other Intangible35

Goodwill And Other Intangible Assets (Change In The Carrying Amount Of Goodwill) (Details) $ in Thousands	9 Months Ended
	Jun. 02, 2018USD ($)
Goodwill And Other Intangible Assets [Abstract]
Goodwill, Beginning Balance	$ 633,728
Acquisition	39,574
Post-closing working capital adjustment from acquisition of DECO Tool Supply Co.	738
Foreign currency translation adjustment	(1,255)
Goodwill, Ending Balance	$ 672,785

Goodwill And Other Intangible36

Goodwill And Other Intangible Assets (Schedule Of Other Intangible Assets) (Details) - USD ($) $ in Thousands	9 Months Ended
	Jun. 02, 2018	Sep. 02, 2017
Finite And Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Amount, Total	$ 252,207	$ 228,968
Accumulated Amortization	(126,434)	(118,539)
Trademark [Member]
Finite And Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Amount, Indefinite	14,155	14,205
Customer Relationships [Member]
Finite And Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Amount	208,260	187,260
Accumulated Amortization	$ (99,229)	(92,381)
Contract Rights [Member]
Finite And Indefinite Lived Intangible Assets [Line Items]
Weighted Average Useful Life (in years)	10 years
Gross Carrying Amount	$ 23,100	23,100
Accumulated Amortization	(23,100)	(23,100)
Trademark [Member]
Finite And Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Amount	6,692	4,403
Accumulated Amortization	$ (4,105)	$ (3,058)
Minimum [Member] | Customer Relationships [Member]
Finite And Indefinite Lived Intangible Assets [Line Items]
Weighted Average Useful Life (in years)	5 years
Minimum [Member] | Trademark [Member]
Finite And Indefinite Lived Intangible Assets [Line Items]
Weighted Average Useful Life (in years)	1 year
Maximum [Member] | Customer Relationships [Member]
Finite And Indefinite Lived Intangible Assets [Line Items]
Weighted Average Useful Life (in years)	18 years
Maximum [Member] | Trademark [Member]
Finite And Indefinite Lived Intangible Assets [Line Items]
Weighted Average Useful Life (in years)	5 years

Goodwill And Other Intangible37

Goodwill And Other Intangible Assets (Schedule Of Amortization Expense By Maturity Year) (Details) $ in Thousands	Jun. 02, 2018USD ($)
Goodwill And Other Intangible Assets [Abstract]
2,019	$ 11,194
2,020	10,217
2,021	9,534
2,022	9,520
2,023	$ 9,375

Debt And Capital Lease Obliga38

Debt And Capital Lease Obligations (Credit Facility) (Narrative) (Details)	9 Months Ended
	Jun. 02, 2018USD ($)	Jun. 03, 2017USD ($)
Debt Instrument [Line Items]
Maximum consolidated leverage ratio of total indebtedness to EBITDA	3
Minimum consolidated interest coverage ratio of EBITDA to total interest expense	3
Borrowings under Credit Facility	$ 172,000,000	$ 439,000,000
Repayments of debt	220,000,000	$ 529,500,000
New Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 600,000,000
Maturity date	Apr. 14, 2022
Credit facility, expiration term	5 years
Available increase in amount borrowed	$ 300,000,000
Borrowing rate under Credit Facility	3.03%
Borrowings under Credit Facility	$ 172,000,000
Repayments of debt	220,000,000
Letter of Credit [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 50,000,000
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	1.125%

Debt And Capital Lease Obliga39

Debt And Capital Lease Obligations (Private Placement Debt) (Narrative) (Details) - Private Placement Debt [Member] - USD ($)	9 Months Ended
	Jun. 02, 2018	Sep. 02, 2017
Senior Notes Series A [Member]
Debt Instrument [Line Items]
Principal amount	$ 75,000,000	$ 75,000,000
Interest rate	2.65%	2.65%
Maturity date	Jul. 28, 2023
Senior Notes Series B [Member]
Debt Instrument [Line Items]
Principal amount	$ 100,000,000	$ 100,000,000
Interest rate	2.90%	2.90%
Maturity date	Jul. 28, 2026

Debt And Capital Lease Obliga40

Debt And Capital Lease Obligations (Shelf Facility Agreements) (Narrative) (Details)	9 Months Ended
	Jun. 02, 2018USD ($)
Line of Credit Facility [Line Items]
Maximum consolidated leverage ratio of total indebtedness to EBITDA	3
Maximum consolidated leverage ratio of total indebtedness to EBITDA after material acquisition	3.50
Minimum consolidated interest coverage ratio of EBITDA to total interest expense	3
Met Life Note Purchase Agreement [Member]
Line of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity	$ 250,000,000
Prudential Note Purchase Agreement [Member]
Line of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity	250,000,000
Remaining borrowing capacity	200,000,000
Senior Notes [Member] | Prudential Note Purchase Agreement [Member]
Line of Credit Facility [Line Items]
Principal amount	$ 50,000,000
Interest rate	3.04%

Debt And Capital Lease Obliga41

Debt And Capital Lease Obligations (Capital Lease And Financing Obligations) (Narrative) (Details) - USD ($)	9 Months Ended
	Jun. 02, 2018	Sep. 02, 2017
Capital Leased Assets [Line Items]
Amount due under capital leases and financing agreements	$ 28,163,000	$ 27,829,000
Non-cash financing activity related to the capital lease	1,163,000
Property and equipment acquired under capital leases and financing agreements	442,000
Amortization of capital leases	$ 0
Fulfillment Center [Member]
Capital Leased Assets [Line Items]
Capital lease term	20 years
Amount due under capital leases and financing agreements	$ 27,025,000	$ 27,025,000
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

Debt and Capital Lease Obliga42

Debt and Capital Lease Obligations (Schedule Of Debt) (Details) - USD ($)		Jun. 02, 2018	Sep. 02, 2017
Debt Instrument [Line Items]
Capital lease and financing obligations		$ 28,163,000	$ 27,829,000
Subtotal		537,163,000	534,829,000
Less: unamortized debt issuance costs		(1,642,000)	(1,852,000)
Total debt		535,521,000	532,977,000
Less: short-term debt	[1]	(284,217,000)	(331,986,000)
Long-term debt		251,304,000	200,991,000
New Credit Facility [Member]
Debt Instrument [Line Items]
Credit Facility		284,000,000	332,000,000
Senior Notes Series A [Member] | Private Placement Debt [Member]
Debt Instrument [Line Items]
Private placement debt		75,000,000	75,000,000
Senior Notes Series B [Member] | Private Placement Debt [Member]
Debt Instrument [Line Items]
Private placement debt		100,000,000	$ 100,000,000
Prudential Note Purchase Agreement [Member]
Debt Instrument [Line Items]
Shelf Facility		$ 50,000,000
[1]	Net of unamortized debt issuance costs expected to be amortized in the next twelve months.

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	Jun. 19, 2018	Jun. 02, 2018	Jun. 03, 2017	Jan. 09, 2018
Components Of Shareholders Equity [Line Items]
Regular dividends cash paid		$ 92,633	$ 76,632
Purchase of treasury stock		$ 25,384
Shares repurchased by the company for associates' tax withholding liability associated with share-based compensation		53
Subsequent Event [Member]
Components Of Shareholders Equity [Line Items]
Dividends declared date	Jun. 19, 2018
Dividends payable per share	$ 0.58
Dividend payable date	Jul. 24, 2018
Dividends record date	Jul. 10, 2018
Dividend payable amount	$ 32,797
Class A Common Stock [Member]
Components Of Shareholders Equity [Line Items]
Maximum number of shares that can be repurchased		2,565
Class A Treasury Stock [Member]
Components Of Shareholders Equity [Line Items]
Common stock shares repurchased		291
Purchase of treasury stock		$ 25,384
Number of shares authorized for repurchase				2,000

Product Warranties (Details)

Product Warranties (Details)	9 Months Ended
	Jun. 02, 2018
Minimum [Member]
Product warranties with original equipment manufacturers	30 days
Maximum [Member]
Warranty period	1 year
Product warranties with original equipment manufacturers	90 days

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Jun. 02, 2018	Dec. 31, 2018	Sep. 01, 2018	Dec. 31, 2017
U.S. Federal statutory rate	29.30%			35.00%
Tax benefit from remeasurement of deferred tax items	$ 41,199
Reduction to tax expense from change in tax rate	16,929
Changes in unrecognized tax benefits	$ 0
Scenario, Plan [Member]
U.S. Federal statutory rate		21.00%	25.70%

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	Jun. 11, 2018	Jun. 02, 2018
New Credit Facility [Member]
Subsequent Event [Line Items]
Maturity date		Apr. 14, 2022
Met Life Note Purchase Agreement [Member] | Series 2018A, Due June 11, 2020 [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Principal amount	$ 20,000,000
Interest rate	3.22%
Maturity date	Jun. 11, 2020
Met Life Note Purchase Agreement [Member] | Series 2018B, Due June 11, 2021 [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Principal amount	$ 20,000,000
Interest rate	3.42%
Maturity date	Jun. 11, 2021
Prudential Note Purchase Agreement [Member] | Notes Due June 11, 2025 [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Principal amount	$ 20,000,000
Interest rate	3.79%
Maturity date	Jun. 11, 2025