MSC Industrial Direct (MSM) 10-Q 8 Apr 20 2020 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Feb. 29, 2020	Mar. 16, 2020
Class of Stock [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Feb. 29, 2020
Document Transition Report	false
Entity File Number	1-14130
Entity Registrant Name	MSC INDUSTRIAL DIRECT CO., INC.
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	11-3289165
Entity Address, Address Line One	75 Maxess Road
Entity Address, City or Town	Melville
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	11747
City Area Code	516
Local Phone Number	812-2000
Title of 12(b) Security	Class A Common Stock, par value $.001
Trading Symbol	MSM
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001003078
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--08-29
Amendment Flag	false
Class A Common Stock [Member]
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		45,426,994
Class B Common Stock [Member]
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		10,129,856

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Feb. 29, 2020	Aug. 31, 2019
Current Assets:
Cash and cash equivalents	$ 44,867	$ 32,286
Accounts receivable, net of allowance for doubtful accounts of $18,577 and $17,088, respectively	536,902	541,091
Inventories	556,402	559,136
Prepaid expenses and other current assets	74,376	67,099
Total current assets	1,212,547	1,199,612
Property, plant and equipment, net	311,267	310,854
Goodwill	677,039	677,266
Identifiable intangibles, net	110,644	116,668
Operating lease assets	60,064
Other assets	5,472	6,837
Total assets	2,377,033	2,311,237
Current Liabilities:
Current portion of long-term debt including obligations under finance leases	410,360	175,453
Current portion of operating lease liabilities	21,587
Accounts payable	155,304	160,110
Accrued expenses and other current liabilities	107,307	111,353
Total current liabilities	694,558	446,916
Long-term debt including obligations under finance leases	267,533	266,431
Noncurrent operating lease liabilities	38,119
Deferred income taxes and tax uncertainties	114,010	114,011
Total liabilities	1,114,220	827,358
Commitments and Contingencies
Shareholders’ Equity:
Preferred stock; $0.001 par value; 5,000,000 shares authorized; none issued and outstanding
Additional paid-in capital	681,657	659,226
Retained earnings	703,396	946,651
Accumulated other comprehensive loss	(22,053)	(22,776)
Class A treasury stock, at cost, 1,258,157 and 1,248,944 shares, respectively	(105,758)	(104,607)
Total MSC Industrial shareholders’ equity	1,257,299	1,478,550
Noncontrolling interest	5,514	5,329
Total shareholders' equity	1,262,813	1,483,879
Total liabilities and shareholders' equity	2,377,033	2,311,237
Class A Common Stock [Member]
Shareholders’ Equity:
Common stock	47	46
Class B Common Stock [Member]
Shareholders’ Equity:
Common stock	$ 10	$ 10

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	6 Months Ended
	Feb. 29, 2020	Aug. 31, 2019
Accounts receivable, allowance for doubtful accounts	$ 18,577	$ 17,088
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	1,258,157	1,248,944
Class A Common Stock [Member]
Common stock, votes per share	one
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	46,685,151	46,277,284
Class B Common Stock [Member]
Common stock, votes per share	ten
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	10,129,856	10,193,348
Common stock, shares outstanding	10,129,856	10,193,348

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 29, 2020	Mar. 02, 2019	Feb. 29, 2020	Mar. 02, 2019
Condensed Consolidated Statements Of Income [Abstract]
Net sales	$ 786,094	$ 823,004	$ 1,609,695	$ 1,654,601
Cost of goods sold	455,042	471,190	931,447	944,802
Gross profit	331,052	351,814	678,248	709,799
Operating expenses	253,382	255,833	510,280	510,818
Income from operations	77,670	95,981	167,968	198,981
Other income (expense):
Interest expense	(3,495)	(4,539)	(6,666)	(8,595)
Interest income	68	164	78	326
Other (expense) income, net	(70)	(237)	51	(235)
Total other expense	(3,497)	(4,612)	(6,537)	(8,504)
Income before provision for income taxes	74,173	91,369	161,431	190,477
Provision for income taxes	18,617	22,939	40,423	47,815
Net income	55,556	68,430	121,008	142,662
Less: Net income attributable to noncontrolling interest	56	6	90	6
Net income attributable to MSC Industrial	$ 55,500	$ 68,424	$ 120,918	$ 142,656
Net income per common share:
Basic	$ 1	$ 1.24	$ 2.18	$ 2.58
Diluted	$ 1	$ 1.24	$ 2.18	$ 2.56
Weighted average shares used in computing net income per common share:
Basic	55,467	55,139	55,371	55,320
Diluted	55,587	55,362	55,545	55,619

Condensed Consolidated Statem_2

Condensed Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Feb. 29, 2020	Mar. 02, 2019	Feb. 29, 2020	Mar. 02, 2019
Condensed Consolidated Statements Of Comprehensive Income [Abstract]
Net income, as reported		$ 55,556	$ 68,430	$ 121,008	$ 142,662
Other comprehensive income, net of tax:
Foreign currency translation adjustments		(788)	675	818	(666)
Comprehensive income	[1]	54,768	69,105	121,826	141,996
Comprehensive income attributable to noncontrolling interest:
Net income		(56)	(6)	(90)	(6)
Foreign currency translation adjustments		45	63	(95)	63
Comprehensive income attributable to MSC Industrial		$ 54,757	$ 69,162	$ 121,641	$ 142,053
[1]	There were no material taxes associated with other comprehensive income during the thirteen and twenty-six-week periods ending February 29, 2020 and March 2, 2019, respectively

Condensed Consolidated Statem_3

Condensed Consolidated Statements Of Comprehensive Income (Parenthetical) - USD ($)	3 Months Ended		6 Months Ended
	Feb. 29, 2020	Mar. 02, 2019	Feb. 29, 2020	Mar. 02, 2019
Condensed Consolidated Statements Of Comprehensive Income [Abstract]
Other comprehensive income, taxes	$ 0	$ 0	$ 0	$ 0

Condensed Consolidated Statem_4

Condensed Consolidated Statements Of Shareholders' Equity - USD ($) $ in Thousands	Class A Common Stock [Member]Common Stock [Member]	Class A Common Stock [Member]Retained Earnings [Member]	Class A Common Stock [Member]Treasury Stock [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]	Treasury Stock [Member]	Total Shareholders' Equity Attributable to MSC Industrial [Member]	Noncontrolling Interest [Member]	Total
Balance, Value at Sep. 01, 2018	$ 55				$ 10			$ 657,749	$ 1,325,822	$ (19,634)	$ (576,748)
Issuance of Noncontrolling Interest in MSC Mexico													$ 4,637
Capital Contributions													1,022
Foreign Currency Translation Adjustment										(603)			(63)	$ (666)
Net Income									142,656				6	142,656
Repurchase and retirement of common stock, Value	(1)							(11,887)	(48,439)
Associate Incentive Plans								24,185			1,243
Repurchases of common stock, Value			$ (24,098)
Cash dividends on common stock		$ (56,707)				$ (12,844)
Dividend equivalents declared, net of cancellations									(516)
Balance, Value at Mar. 02, 2019	54				10			670,047	1,349,972	(20,237)	(599,603)	$ 1,400,243	5,602	1,405,845
Dividends declared per common share				$ 1.26			$ 1.26
Balance, Value at Dec. 01, 2018	54				10			660,185	1,316,489	(20,975)	(579,451)
Issuance of Noncontrolling Interest in MSC Mexico													4,637
Capital Contributions													1,022
Foreign Currency Translation Adjustment										738			(63)	675
Net Income									68,424				6	68,424
Repurchase and retirement of common stock, Value
Associate Incentive Plans								9,862			746
Repurchases of common stock, Value			(20,898)
Cash dividends on common stock		(28,271)				(6,422)
Dividend equivalents declared, net of cancellations									(248)
Balance, Value at Mar. 02, 2019	54				10			670,047	1,349,972	(20,237)	(599,603)	1,400,243	5,602	1,405,845
Dividends declared per common share				0.63			0.63
Balance, Value at Aug. 31, 2019	46				10			659,226	946,651	(22,776)	(104,607)		5,329	1,483,879
Foreign Currency Translation Adjustment										723			95	818
Net Income									120,918				90	120,918
Repurchase and retirement of common stock, Value
Associate Incentive Plans	1							22,431			2,057
Repurchases of common stock, Value			(3,208)
Cash dividends on common stock		(294,923)				(65,892)
Dividend equivalents declared, net of cancellations									(3,358)
Balance, Value at Feb. 29, 2020	47				10			681,657	703,396	(22,053)	(105,758)	1,257,299	5,514	1,262,813
Dividends declared per common share				6.50			6.50
Balance, Value at Nov. 30, 2019	46				10			668,668	970,139	(21,310)	(106,690)		5,503
Foreign Currency Translation Adjustment										(743)			(45)	(788)
Net Income									55,500				56	55,500
Repurchase and retirement of common stock, Value
Associate Incentive Plans	1							12,989			1,131
Repurchases of common stock, Value			$ (199)
Cash dividends on common stock		$ (261,032)				$ (58,247)
Dividend equivalents declared, net of cancellations									(2,964)
Balance, Value at Feb. 29, 2020	$ 47				$ 10			$ 681,657	$ 703,396	$ (22,053)	$ (105,758)	$ 1,257,299	$ 5,514	$ 1,262,813
Dividends declared per common share				$ 5.75			$ 5.75

Condensed Consolidated Statem_5

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Feb. 29, 2020	Mar. 02, 2019
Cash Flows from Operating Activities:
Net income	$ 121,008	$ 142,662
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	34,313	32,076
Non-cash operating lease cost	11,061
Stock-based compensation	8,178	8,078
Loss on disposal of property, plant, and equipment	227	343
Provision for doubtful accounts	4,704	6,050
Changes in operating assets and liabilities:
Accounts receivable	(2,105)	(20,510)
Inventories	3,449	(44,642)
Prepaid expenses and other current assets	(7,953)	(13,359)
Operating lease liabilities	(10,931)
Other assets	1,375	(1,545)
Accounts payable and accrued liabilities	(7,511)	(10,575)
Total adjustments	34,807	(44,084)
Net cash provided by operating activities	155,815	98,578
Cash Flows from Investing Activities:
Expenditures for property, plant and equipment	(25,737)	(23,156)
Cash used in business acquisitions, net of cash acquired	(2,286)	(11,625)
Net cash used in investing activities	(28,023)	(34,781)
Cash Flows from Financing Activities:
Repurchases of common stock	(3,208)	(84,425)
Payments of regular cash dividends	(83,181)	(69,551)
Payment of special cash dividends	(277,634)
Proceeds from sale of Class A common stock in connection with associate stock purchase plan	2,202	2,429
Proceeds from exercise of Class A common stock options	13,390	14,518
Borrowings under the revolving credit facilities	389,600	326,000
Contributions from noncontrolling interest	105	918
Payments under the revolving credit facilities	(156,000)	(269,000)
Other, net	(696)	241
Net cash used in financing activities	(115,422)	(78,870)
Effect of foreign exchange rate changes on cash and cash equivalents	211	23
Net increase (decrease) in cash and cash equivalents	12,581	(15,050)
Cash and cash equivalents—beginning of period	32,286	46,217
Cash and cash equivalents—end of period	44,867	31,167
Supplemental Disclosure of Cash Flow Information:
Cash paid for income taxes	37,286	47,834
Cash paid for interest	$ 5,636	$ 8,316

Basis Of Presentation

Basis Of Presentation	6 Months Ended
	Feb. 29, 2020
Basis Of Presentation [Abstract]
Basis Of Presentation	Note 1. Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared by the management of MSC Industrial Direct Co., Inc. (together with its wholly owned subsidiaries and entities in which it maintains a controlling financial interest, the “Company”) and in the opinion of management include all normal recurring material adjustments necessary to present fairly the Company’s financial position as of February 29, 2020 and August 31, 2019 , the results of operations for the thirteen and twenty-six weeks ended February 29, 2020 and March 2, 2019 , and cash flows for the twenty-six weeks ended February 29, 2020 and March 2, 2019 . The August 31, 2019 financial information was derived from the Company’s audited financial statements included in the Company’s Annual Report on Form 10-K for the year ended August 31, 2019. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted pursuant to the rules and regulations of the SEC. The Company, however, believes that the disclosures contained in this report comply with the requirements of Section 13(a) of the Securities Exchange Act of 1934 for a Quarterly Report on Form 10-Q and are adequate to make the information presented not misleading. These unaudited Condensed Consolidated Financial Statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended August 31, 2019. 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 2020 fiscal year will be a 52-week accounting period that will end on August 29, 2020 and its 2019 fiscal year was a 52-week accounting period that ended on August 31, 2019. Principles of Consolidation The Condensed Consolidated Financial Statements include the accounts of MSC Industrial Direct Co., Inc., its wholly owned subsidiaries and entities in which it maintains a controlling financial interest. All significant intercompany balances and transactions have been eliminated in consolidation. Recently Adopted Accounting Pronouncements Effective September 1, 2019, the Company adopted 2016-02, Leases (Topic 842) as subsequently amended. This is a comprehensive new standard that amends various aspects of existing accounting guidance for leases, including the recognition of a right-of-use asset and a lease liability on the balance sheet and disclosing key information about leasing arrangements. The Company utilized the optional transition method set forth in Accounting Standard Update (“ASU”) 2018-11 that allows entities to initially apply the new lease accounting standard at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. Therefore, the adoption did not require restatement of prior periods. In addition, the Company elected the transition package of practical expedients permitted within the standard, which allowed it to carry forward the historical lease classification for arrangements that commenced prior to the effective date. As a result of the adoption of ASC 842 on September 1, 2019, the Company recorded both operating lease assets of $ 61,212 and operating lease liabilities of $ 60,730 . The adoption of ASC 842 had an immaterial impact on the Company’s Condensed Consolidated Statement of Income and Condensed Consolidated Statement of Cash Flows. The adoption of this standard also resulted in a change in the naming convention for leases classified historically as capital leases. These leases are now referred to as finance leases. See Note 7 “Leases” for additional qualitative and quantitative information about the Company's leases. Accounting Pronouncements Not Yet Adopted In June 2016, the Financial Accounting Standards Board (“FASB”) issued its final standard on measurement of credit losses on financial instruments. This standard, issued as ASU 2016-13, Financial Instruments – Credit Losses (Topic 326), 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 fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, with early adoption permitted for financial statement periods beginning after December 15, 2019. The new standard is effective for the Company for its fiscal year 2021. The Company is currently evaluating the standard to determine the impact, if any, of adoption to its consolidated financial statements. 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.

Revenue

Revenue	6 Months Ended
	Feb. 29, 2020
Revenue [Abstract]
Revenue	Note 2. Revenue Revenue Recognition Net sales include product revenue and shipping and handling charges, net of estimated sales returns and any related sales incentives. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring products. All revenue is recognized when the Company satisfies its performance obligations under the contract, and invoicing occurs at approximately the same point in time. The Company recognizes revenue once the customer obtains control of the products. The Company’s product sales have standard payment terms that do not exceed one year . The Company considers shipping and handling as activities to fulfill its performance obligation. The Company’s contracts have a single performance obligation, to deliver products, and are short-term in nature. The Company estimates product returns based on historical return rates. Total accrued sales returns were $ 5,592 and $ 5,432 as of February 29, 2020 and August 31, 2019, respectively, and are reported as Accrued expenses and other current liabilities in the Condensed Consolidated Balance Sheets. Sales taxes and value-added taxes in foreign jurisdictions that are collected from customers and remitted to governmental authorities are accounted for on a net basis and therefore are excluded from net sales. Consideration Payable to a Customer The Company offers customers sales incentives, which primarily consist of volume rebates, and upfront sign-on payments. These volume rebates and payments are not in exchange for a distinct good or service and result in a reduction of net sales from the goods transferred to the customer at the later of when the related revenue is recognized or when the Company promises to pay the consideration. The Company estimates its volume rebate accruals and records its sign-on payments based on various factors, including contract terms, historical experience, and performance levels. Total accrued sales incentives, primarily related to volume rebates, were $ 18,843 and $ 14,770 as of February 29, 2020 and August 31, 2019, respectively, and are included in Accrued expenses and other current liabilities in the Condensed Consolidated Balance Sheets. Sign-on payments, not yet recognized as a reduction of revenue, are recorded in Prepaid expenses and other current assets in the Condensed Consolidated Balance Sheets and were $ 4,031 and $ 2,788 as of February 29, 2020 and August 31, 2019, respectively. Contract Assets and Liabilities The Company records a contract asset when it has a right to payment from a customer that is conditioned on events other than the passage of time. The Company records a contract liability when customers prepay but the Company has not yet satisfied its performance obligation. The Company did no t have material unsatisfied performance obligations, contract assets or liabilities as of February 29, 2020 and August 31, 2019. Disaggregation of Revenue The Company operates in one operating and reportable segment as a distributor of metalworking and maintenance, repair and operations (“MRO”) products and services. The Company serves a large number of customers in diverse industries, which are subject to different economic and industry factors. The Company's presentation of net sales by customer end-market most reasonably depicts how the nature, amount, timing, and uncertainty of Company revenue and cash flows are affected by economic and industry factors. The Company does not disclose net sales information by product category as it is impracticable to do so as a result of its numerous product offerings and the way its business is managed. The following tables presents the Company's percentage of net sales by customer end-market for the thirteen and twenty-six-week periods ended February 29, 2020 and March 2, 2019: Thirteen Weeks Ended Thirteen Weeks Ended February 29, 2020 March 2, 2019 Manufacturing Heavy 47 % 49 % Manufacturing Light 23 % 22 % Government 7 % 7 % Retail/Wholesale 6 % 6 % Commercial Services 5 % 5 % Other (1) 12 % 11 % Total net sales 100 % 100 % __________________________ (1) The other category primarily includes individual customer and small business net sales not assigned to a specific industry classification. Twenty-Six Weeks Ended Twenty-Six Weeks Ended February 29, 2020 March 2, 2019 Manufacturing Heavy 47 % 49 % Manufacturing Light 23 % 22 % Government 7 % 8 % Retail/Wholesale 6 % 5 % Commercial Services 5 % 4 % Other (1) 12 % 12 % Total net sales 100 % 100 % __________________________ (1) The other category primarily includes individual customer and small business net sales not assigned to a specific industry classification. The Company’s net sales originating from the following geographic areas were as follows for the thirteen and twenty-six-week periods ended February 29, 2020 and March 2, 2019: Thirteen Weeks Ended Thirteen Weeks Ended February 29, 2020 March 2, 2019 United States $ 752,300 96 % $ 796,995 97 % UK 13,274 2 % 13,769 2 % Canada 10,147 1 % 9,299 1 % Mexico 10,373 1 % 2,941 < 1 % Total net sales $ 786,094 100 % $ 823,004 100 % Twenty-Six Weeks Ended Twenty-Six Weeks Ended February 29, 2020 March 2, 2019 United States $ 1,540,663 96 % $ 1,603,070 97 % UK 27,356 2 % 28,974 2 % Canada 21,258 1 % 19,616 1 % Mexico 20,418 1 % 2,941 < 1 % Total net sales $ 1,609,695 100 % $ 1,654,601 100 %

Net Income Per Share

Net Income Per Share	6 Months Ended
	Feb. 29, 2020
Net Income Per Share [Abstract]
Net Income Per Share	Note 3: Net Income per Share The Company’s non-vested restricted share awards contain non-forfeitable rights to dividends and meet the criteria of a participating security as defined by 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. Effective in fiscal 2016, the Company discontinued its granting of restricted share awards. 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 twenty-six weeks ended February 29, 2020 and March 2, 2019, respectively: Thirteen Weeks Ended Twenty-Six Weeks Ended February 29, March 2, February 29, March 2, 2020 2019 2020 2019 Net income attributable to MSC Industrial as reported $ 55,500 $ 68,424 $ 120,918 $ 142,656 Less: Distributed net income available to participating securities — ( 5 ) ( 24 ) ( 24 ) Less: Undistributed net income available to participating securities — ( 15 ) — ( 46 ) Numerator for basic net income per share: Undistributed and distributed net income available to common shareholders $ 55,500 $ 68,404 $ 120,894 $ 142,586 Add: Undistributed net income allocated to participating securities — 15 — 46 Less: Undistributed net income reallocated to participating securities — ( 15 ) — ( 46 ) Numerator for diluted net income per share: Undistributed and distributed net income available to common shareholders $ 55,500 $ 68,404 $ 120,894 $ 142,586 Denominator: Weighted average shares outstanding for basic net income per share 55,467 55,139 55,371 55,320 Effect of dilutive securities 120 223 174 299 Weighted average shares outstanding for diluted net income per share 55,587 55,362 55,545 55,619 Net income per share Two-class method: Basic $ 1.00 $ 1.24 $ 2.18 $ 2.58 Diluted $ 1.00 $ 1.24 $ 2.18 $ 2.56 Potentially dilutive securities 1,096 1,123 1,447 718 Potentially dilutive securities attributable to outstanding stock options, restricted stock units, and performance share units are excluded from the calculation of diluted earnings per share where the combined exercise price and average unamortized fair value are greater than the average market price of MSC common stock, and therefore their inclusion would be anti-dilutive.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Feb. 29, 2020
Stock-Based Compensation [Abstract]
Stock-Based Compensation	Note 4. Stock-Based Compensation The Company accounts for all share-based payments in accordance with ASC Topic 718, “Compensation—Stock Compensation,” as subsequently amended. Stock - based compensation expense included in operating expenses for the thirteen and twenty-six -week periods ended February 29, 2020 and March 2, 2019 was as follows: Thirteen Weeks Ended Twenty-Six Weeks Ended February 29, March 2, February 29, March 2, 2020 2019 2020 2019 (Dollars in thousands) Stock options $ 754 $ 1,121 $ 1,729 $ 2,326 Restricted share awards ( 21 ) 338 184 870 Restricted stock units 3,039 2,364 5,915 4,729 Performance share units 168 — 214 — Associate Stock Purchase Plan 77 81 136 153 Total 4,017 3,904 8,178 8,078 Deferred income tax benefit ( 1,008 ) ( 980 ) ( 2,048 ) ( 2,028 ) Stock-based compensation expense, net $ 3,009 $ 2,924 $ 6,130 $ 6,050 Stock Options The Company discontinued its grants of stock options in fiscal 2020. For the thirteen and twenty-six-week periods ended March 2, 2019, the fair value of each option grant was estimated on the date of grant using the Black - Scholes option pricing model with the following assumptions: Thirteen and Twenty-Six Weeks Ended March 2, 2019 Expected life (in years) 4.0 Risk-free interest rate 2.98 % Expected volatility 23.13 % Expected dividend yield 2.70 % Weighted-average grant-date fair value $ 14.05 A summary of the Company’s stock option activity for the twenty-six-week period ended February 29, 2020 is as follows: Options Weighted-Average Exercise Price per Share Weighted-Average Remaining Contractual Term (in years) Aggregate Intrinsic Value Outstanding on August 31, 2019 1,894 $ 74.73 Granted — — Exercised ( 210 ) 63.87 Canceled/Forfeited ( 99 ) 80.56 Outstanding on February 29, 2020 1,585 $ 75.80 3.7 $ 747 Exercisable on February 29, 2020 1,056 $ 73.82 3.0 $ 747 The unrecognized share - based compensation cost related to stock option expense at February 29, 2020 was $ 5,436 and will be recognized over a weighted average period of 1.9 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 twenty-six -week periods ended February 29, 2020 and March 2, 2019 was $ 2,574 and $ 1,617 , respectively. Performance Share Units Beginning in fiscal 2020, the Company grants performance share units (“PSU”) as part of its long-term stock-based compensation program. PSUs cliff vest after a three year performance period based on achievement of specific performance goals. Based on the extent to which the targets are achieved, vested shares may range from zero to 200 percent of the target award amount. The following table summarizes all transactions related to PSUs under the Company’s 2015 Omnibus Incentive Plan (based on target award amounts) for the twenty-six weeks ended February 29, 2020: Shares Weighted-Average Grant-Date Fair Value Non-vested PSUs at August 31, 2019 — $ — Granted 31 76.32 Vested — — Canceled/Forfeited ( 3 ) 76.32 Non-vested PSUs at February 29, 2020 (1) 28 $ 76.32 (1) Excludes 3 shares of accrued incremental dividend equivalent rights on outstanding PSUs granted under the Company's 2015 Omnibus Incentive Plan. The fair value of each PSU is the closing stock price on the NYSE of the Company’s Class A common stock on the date of grant. Upon vesting, subject to achievement of performance goals, a portion of the PSU award may be withheld to satisfy the statutory income tax withholding obligation. The remaining PSUs will be settled in shares of the Company’s Class A common stock when vested. These awards accrue dividend equivalents on the underlying PSUs (in the form of additional stock units) based on dividends declared on the Company’s Class A common stock and these dividend equivalents are paid out in unrestricted common stock on the vesting dates of the underlying PSUs, subject to the same performance vesting requirements. The unrecognized share-based compensation cost related to the PSUs at February 29, 2020 was $ 1,908 and is expected to be recognized over a period of 2.7 years. 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 twenty-six -week period ended February 29, 2020 is as follows: Shares Weighted-Average Grant-Date Fair Value Non-vested RSAs at August 31, 2019 21 $ 82.00 Granted — — Vested ( 19 ) 82.90 Canceled/Forfeited ( 1 ) 70.40 Non-vested RSAs at February 29, 2020 1 $ 72.23 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 February 29, 2020 was minimal and the remaining RSAs will vest in March 2020. Restricted Stock Units A summary of the Company’s non-vested Restricted Stock Unit (“RSU”) award activity under the Company’s 2015 Omnibus Incentive Plan for the twenty-six-week period ended February 29, 2020 is as follows: Shares Weighted-Average Grant-Date Fair Value Non-vested RSUs at August 31, 2019 416 $ 76.93 Granted 237 75.97 Vested ( 127 ) 74.72 Canceled/Forfeited ( 33 ) 77.23 Non-vested RSUs at February 29, 2020 (1) 493 $ 77.02 (1) Excludes approximately 60 shares of accrued incremental dividend equivalent rights on outstanding RSUs granted under the Company's 2015 Omnibus Incentive Plan. The fair value of each RSU 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 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 the underlying RSUs (in the form of additional stock units) based on dividends declared on the Company’s Class A common stock and these dividend equivalents are paid out in unrestricted common stock on the vesting dates of the underlying RSUs. The unrecognized share-based compensation cost related to the RSUs at February 29, 2020 was $ 32,969 and is expected to be recognized over a weighted average period of 3.2 years.

Fair Value

Fair Value	6 Months Ended
	Feb. 29, 2020
Fair Value [Abstract]
Fair Value	Note 5. 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. The Company’s financial instruments include cash and cash equivalents, accounts receivable, accounts payable, and outstanding indebtedness. The Company uses a market approach to determine the fair value of its debt instruments, utilizing quoted prices in active markets, interest rates and other relevant information generated by market transactions involving similar instruments. Therefore, the inputs used to measure the fair value of the Company's debt instruments are classified as Level 2 within the fair value hierarchy. The reported carrying amounts of the Company’s financial instruments approximated their fair values as of February 29, 2020 and August 31, 2019. During the twenty-six-week periods ended February 29, 2020 and March 2, 2019, the Company had no remeasurements of non-financial assets or liabilities at fair value on a non-recurring basis subsequent to their initial recognition.

Debt

Debt	6 Months Ended
	Feb. 29, 2020
Debt [Abstract]
Debt	Note 6. Debt Debt at February 29, 2020 and August 31, 2019 consisted of the following: February 29, August 31, 2020 2019 (Dollars in thousands) Uncommitted bank facilities $ 288,600 $ 155,000 Private Placement Debt: 2.65 % Senior notes, series A, due July 28, 2023 75,000 75,000 2.90 % Senior notes, series B, due July 28, 2026 100,000 100,000 3.79 % Senior notes, due June 11, 2025 20,000 20,000 Revolving Credit Facility 100,000 - Shelf Facility Agreements 90,000 90,000 Financing arrangements 903 82 Less: unamortized debt issuance costs ( 958 ) ( 1,169 ) Total debt, excluding obligations under finance leases $ 673,545 $ 438,913 Less: current portion (1) ( 409,116 ) ( 174,688 ) Total long-term debt, excluding obligations under finance leases $ 264,429 $ 264,225 __________________________ (1) Net of unamortized debt issuance costs expected to be amortized in the next twelve months. Revolving Credit Facility and Uncommitted Credit Facilities The Company has a $ 600,000 committed credit facility (the “Committed Facility”). The Committed Facility, which matures on April 14, 2022 , provides for a five year unsecured revolving loan facility. The interest rate is based on either the London Interbank Offered Rate (“LIBOR”) or a base rate, plus in either case a spread based on the Company’s leverage ratio at the end of each fiscal reporting quarter. Based on the interest period the Company selects, interest may be 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 Committed Facility bear interest based on LIBOR with one-month interest periods. As of February 29, 2020 and August 31, 2019, the Company had an outstanding balance of $ 100,000 and $ 0 , respectively, on its Committed Facility. During the first quarter of fiscal 2019, the Company entered into six unsecured credit facilities that are uncommitted (the “Uncommitted Facilities”), totaling $ 440,000 of maximum uncommitted availability. During the first quarter of fiscal 2020, the Company extended, and in some cases amended, five of the Uncommitted Facilities (the “Amended Uncommitted Facilities”), totaling $ 410,000 of maximum uncommitted availability. Borrowings under the Amended Uncommitted Facilities are generally due at the end of the applicable agreed interest period, but, in any event, no later than the one-year anniversary of the entrance into the applicable Amended Uncommitted Facility. The Amended Uncommitted Facilities contain limited covenants. As of February 29, 2020, the Company had an outstanding balance of $ 288,000 on the Amended Uncommitted Facilities. During the second quarter of fiscal 2020, the Company entered into an additional uncommitted credit facility (“New Uncommitted Credit Facility”), totaling $ 5,000 of maximum uncommitted availability. As of February 29, 2020, the Company had an outstanding balance of $ 600 on the New Uncommitted Credit Facility. An event of default under the Company’s Committed Facility is an event of default under the Amended Uncommitted Facilities and the New Uncommitted Credit Facility. The interest rate on the Amended Uncommitted Facilities and the New Uncommitted Credit Facility is based on LIBOR or the bank’s cost of funds or as otherwise agreed upon by the applicable bank and the Company. The $ 288,600 outstanding at the end of the fiscal second quarter of 2020 under the Amended Uncommitted Facilities and the New Uncommitted Credit Facility is classified as short-term in the Company’s Condensed Consolidated Balance Sheet. During the twenty-six-week period ended February 29, 2020, the Company borrowed $ 389,600 and repaid $ 156,000 under all of its credit facilities. As of February 29, 2020 and August 31, 2019, the weighted average interest rates on borrowings under all of its credit facilities were 2.57 % and 3.01 %, respectively. 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. In June 2018, the Company completed the issuance and sale of $ 20,000 aggregate principal amount of 3.22 % Series 2018A Notes, due June 11, 2020 and $ 20,000 aggregate principal amount of 3.42 % Series 2018B Notes, due June 11, 2021 . Interest is payable semiannually at the fixed stated interest rates. As of February 29, 2020, the uncommitted availability under the Met Life Note Purchase Agreement is $ 210,000 . 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 . Interest is payable semiannually. As of February 29, 2020, the uncommitted availability under the Prudential Note Purchase Agreement is $ 200,000 . Each of the credit facilities, Private Placement Debt, and Shelf Facility Agreements imposes 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 facilities, Private Placement Debt, and Shelf Facility Agreements. At February 29, 2020, the Company was in compliance with the operating and financial covenants of the credit facilities, Private Placement Debt, and Shelf Facility Agreements. Financing Arrangements From time to time, the Company enters into 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 agreed upon. During the twenty-six-week period ended February 29, 2020, the Company entered into financing arrangements related to certain IT equipment and software totaling $ 1,164 . The gross amount of property and equipment acquired under the financing arrangements and its accumulated amortization at February 29, 2020 was $ 1,328 and $ 343 , respectively.

Leases

Leases	6 Months Ended
	Feb. 29, 2020
Leases [Abstract]
Leases	Note 7. Leases The Company's lease portfolio includes certain real estate (branch offices and customer fulfillment centers), automobiles, and other equipment. The determination of whether an arrangement is, or contains, a lease is performed at the inception of the arrangement. Operating leases are recorded on the balance sheet with operating lease assets representing the right to use the underlying asset for the lease term and lease liabilities representing the obligation to make lease payments arising from the lease. For real estate leases, the Company has elected the practical expedient which allows lease components and non-lease components, such as common area maintenance, to be grouped as a single lease component. The Company has also elected the practical expedient which allows leases with an initial term of twelve months or less to be excluded from the balance sheet. The Company does not guarantee any residual value in its lease agreements, there are no material restrictions or covenants imposed by lease arrangements, and there are no lease transactions with related parties. Real estate leases typically include one or more options to extend the lease. The Company regularly evaluates the renewal options, and when it is reasonably certain of exercise, the Company includes the renewal period in its lease term. The automobile leases contain variable lease payments based on inception and subsequent interest rate fluctuations. For the thirteen and twenty-six-week periods ended February 29, 2020, the variable lease cost was insignificant. When readily determinable, the Company uses the interest rate implicit in its leases to discount lease payments. When the implicit rate is not readily determinable, as is the case with substantially all of the real estate leases, the Company utilizes the incremental borrowing rate. The incremental borrowing rate for a lease is the rate of interest the Company would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms. The rate for each lease was determined using primarily the Company’s credit spread, the lease term, and currency. The components of lease cost for the thirteen and twenty-six weeks ended February 29, 2020 were as follows: Thirteen Weeks Ended Twenty-Six Weeks Ended February 29, 2020 February 29, 2020 (Dollars in thousands) Operating lease cost $ 6,188 $ 12,360 Short-term lease cost 220 484 Finance lease cost: Amortization of leased assets 311 573 Interest on leased liabilities 30 55 Total Lease Cost $ 6,749 $ 13,472 Supplemental balance sheet information relating to operating and finance leases is as follows: February 29, August 31, Classification 2020 2019 Assets (Dollars in thousands) Operating lease assets Operating lease assets $ 60,064 $ - Finance lease assets (1) Property, plant, and equipment, net 4,280 2,958 Total leased assets $ 64,344 $ 2,958 Liabilities Current Operating Current portion of operating lease liabilities $ 21,587 $ - Finance Current portion of long-term debt including obligations under finance leases 1,244 765 Noncurrent Operating Noncurrent operating lease liabilities 38,119 - Finance Long-term debt including obligations under finance leases 3,104 2,206 Total lease liabilities $ 64,054 $ 2,971 (1) Finance lease assets are net of accumulated amortization of $ 793 and $ 1,398 as of February 29, 2020 and August 31, 2019 . February 29, 2020 Weighted average remaining lease term (years) Operating Leases 4.0 Finance Leases 3.4 Weighted average discount rate Operating Leases 3.5 % Finance Leases 2.6 % The following sets forth supplemental cash flow information related to operating and finance leases: Twenty-Six Weeks Ended February 29, 2020 (Dollars in thousands) Operating Cash Outflows from Operating Leases $ 12,188 Operating Cash Outflows from Finance Leases 55 Financing Cash Outflows from Finance Leases 504 Leased assets obtained in exchange for new lease liabilities: Operating Leases $ 9,817 Finance Leases 1,973 As of February 29, 2020, future lease payments were as follows: Fiscal Year (Dollars in thousands) Operating Leases Finance Leases Total 2020 (excluding six months) $ 12,804 $ 687 $ 13,491 2021 22,176 1,375 23,551 2022 13,883 1,344 15,227 2023 7,485 1,018 8,503 2024 5,110 152 5,262 Thereafter 7,274 3 7,277 Total Lease Payments 68,732 4,579 73,311 Less: Imputed Interest 9,026 231 9,257 Present Value of Lease Liabilities (1) $ 59,706 $ 4,348 $ 64,054 (1) Includes the current portion o f $ 21,587 for operating leases and $ 1,244 for finance leases As of February 29, 2020, the Company's future lease obligations which have not yet commenced are immaterial. Prior Period Disclosures As a result of the adoption of ASC 842, Leases, on September 1, 2019, the Company is required to present future minimum lease payments for operating and finance lease obligations having initial or remaining non-cancelable lease terms in excess of one year. These future minimum lease payments were previously disclosed in the Company’s 2019 Annual Report on Form 10-K and accounted for under previous lease guidance. Commitments as of August 31, 2019 were as follows: August 31, 2019 Fiscal Year Operating Leases Capitalized Lease Obligations 2020 $ 22,463 $ 792 2021 18,022 812 2022 9,923 781 2023 5,184 604 2024 4,083 106 Thereafter 6,023 - Total minimum lease payments $ 65,698 $ 3,095 Less: interest 124 Present value of minimum lease payments $ 2,971 Less: current maturities 765 Present value of minimum lease payments less current maturities $ 2,206

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Feb. 29, 2020
Shareholders' Equity [Abstract]
Shareholders' Equity	Note 8. Shareholders’ Equity Common Stock Repurchases and Treasury Stock During the thirteen and twenty-six-week periods ended February 29, 2020, the Company repurchased 3 and 44 shares of its Class A common stock for $ 199 and $ 3,208 , respectively. All of these shares were repurchased by the Company to satisfy the Company’s associates’ tax withholdings liability associated with its share-based compensation program and are reflected at cost as treasury stock in the accompanying Condensed Consolidated Financial Statements for the thirteen and twenty-six-week periods ended February 29, 2020. During the thirteen and twenty-six-week periods ended March 2, 2019, the Company repurchased 275 and 1,053 shares of its Class A common stock for $ 20,898 and $ 84,425 , respectively. From these totals, 275 and 315 shares were not retired and the amounts of $ 20,898 and $ 24,098 are reflected at cost as treasury stock in the accompanying Condensed Consolidated Financial Statements for the thirteen and twenty-six weeks ended March 2, 2019, respectively. As part of the Company’s ongoing Stock Repurchase Plan, the total number of shares of Class A common stock authorized for future repurchase by the Board of Directors was 1,157 at February 29, 2020. The Company reissued 19 and 35 shares of treasury stock during the thirteen and twenty-six-week periods ended February 29, 2020, respectively, and reissued 20 and 33 shares of treasury stock during the thirteen and twenty-six-week periods ended March 2, 2019, respectively, to fund the Associate Stock Purchase Plan. Dividends on Common Stock The Company paid cash dividends of $ 360,815 for the twenty-six weeks ended February 29, 2020 which consisted of a special cash dividend of approximately $ 277,634 at $ 5.00 per share and regular cash dividends of approximately $ 83,181 at $ 1.50 per share. For the twenty-six weeks ended March 2, 2019, the Company paid cash dividends of $ 69,551 at $ 1.26 per share. On March 31, 2020, the Board of Directors declared a quarterly cash dividend of $ 0.75 per share payable on April 28, 2020 to shareholders of record at the close of business on April 14, 2020 . The dividend will result in a payout of approximately $ 41,668 , based on the number of shares outstanding at March 16, 2020.

Restructuring And Other Related

Restructuring And Other Related Costs	6 Months Ended
	Feb. 29, 2020
Restructuring and Other Related Costs [Abstract]
Restructuring and Other Related Costs	Note 9. Restructuring and Other Related Costs Consulting Related Costs Beginning in the second quarter of fiscal 2020, the Company engaged consultants to assist in reviewing optimization of the Company’s operations. The Company incurred $ 2,132 in consulting fees for the thirteen weeks ended February 29, 2020. These costs are included within operating expenses in the Consolidated Statements of Income. Severance and Separation Benefits Beginning in fiscal 2019 and through the first quarter of fiscal 2020, the Company identified opportunities for improvements in its workforce realignment, strategy, and staffing, and increased its focus on performance management, to ensure it has the right skillsets and number of associates to execute its long-term vision. As such, the Company extended voluntary and involuntary severance and separation benefits to certain associates. The severance and separation cost liability balance was $ 6,044 at August 31, 2019. During the twenty-six-week period ended February 29, 2020, the Company accrued severance and separation benefits charges and other related costs for approximately 125 associates of $ 2,377 , which included $ 87 of stock-based compensation expense from the acceleration of equity award vestings. These costs are included within operating expenses in the Consolidated Statements of Income. In addition, $ 7,955 of charges were paid out during the twenty-six-week period ended February 29, 2020, resulting in a severance and separation cost liability balance of $ 379 at February 29, 2020.

Business Combination

Business Combination	6 Months Ended
	Feb. 29, 2020
Business Combination [Abstract]
Business Combination	Note 10. Business Combination In December 2019, the Company paid a post-closing working capital adjustment in accordance with the February 2019 acquisition of certain assets of TAC Insumos Industriales, S. de R.L. de C.V. and certain of its affiliates (together, “TAC ”). This adjustment increased the purchase price paid by $ 2,286 .

Product Warranties

Product Warranties	6 Months Ended
	Feb. 29, 2020
Product Warranties [Abstract]
Product Warranties	Note 11. 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 day s to ninety day s. 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 and twenty-six-week periods ended February 29, 2020 and March 2, 2019 was minimal.

Income Taxes

Income Taxes	6 Months Ended
	Feb. 29, 2020
Income Taxes [Abstract]
Income Taxes	Note 12. Income Taxes During the twenty-six-week period ended February 29, 2020, there were no material changes in unrecognized tax benefits.

Legal Proceedings

Legal Proceedings	6 Months Ended
	Feb. 29, 2020
Legal Proceedings [Abstract]
Legal Proceedings	Note 13. 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.

Subsequent Events

Subsequent Events	6 Months Ended
	Feb. 29, 2020
Subsequent Events [Abstract]
Subsequent Events	Note 14. Subsequent Events The recent outbreak of the novel coronavirus COVID-19, which was declared a pandemic by the World Health Organization on March 11, 2020, has led to adverse impacts on the U.S. and global economies and created uncertainty regarding potential impacts to the Company’s supply chain, operations, and customer demand. The COVID-19 pandemic has impacted and could further impact the Company’s operations and the operations of the Company’s suppliers and vendors as a result of quarantines, facility closures, and travel and logistics restrictions. The extent to which the COVID-19 pandemic impacts the Company’s business, results of operations and financial condition will depend on future developments, which are highly uncertain and cannot be predicted, including, but not limited to the duration, spread, severity, and impact of the COVID-19 pandemic, the effects of the COVID-19 pandemic on the Company’s customers, suppliers, and vendors and the remedial actions and stimulus measures adopted by local and federal governments, and to what extent normal economic and operating conditions can resume. Even after the COVID-19 pandemic has subsided, the Company may continue to experience adverse impacts to its business as a result of any economic recession or depression that has occurred or may occur in the future. Therefore, the Company cannot reasonably estimate the impact at this time. See Item 2., Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A), specifically the “Recent Developments and Highlights” and “Liquidity and Capital Resources” sections, for further discussion. In March 2020, the Company completed the issuance and sale of $ 50,000 aggregate principal amount of 2.40 % Series 2019A Notes, due March 5, 2024 associated with the Met Life Note Purchase Agreement referred to in Note 6, Debt. Interest is payable semiannually at the fixed stated interest rates. In addition, in March 2020, the Company completed the issuance and sale of an additional $ 50,000 aggregate principal amount of 2.60 % Senior Notes, due March 5, 2027 associated with private placement debt. Interest is payable semiannually at the fixed stated interest rates. As of February 29, 2020, the Company’s existing cash and cash equivalents on-hand were $ 44,867 and the Company had $ 495,850 available under the Committed Facility. In March 2020, the Company repaid $ 100,000 on the Committed Facility, which was funded by the two $ 50,000 note issuances discussed above. As a precautionary measure, to increase the Company’s cash position and preserve financial flexibility in light of current uncertainty resulting from the COVID-19 pandemic, the Company borrowed an additional $ 300,000 on its Committed Facility in March. The current unused balance of $ 295,850 on the Committed Facility, which is reduced by outstanding letters of credit, is available for working capital purposes if necessary. Further, in April 2020, borrowings under two of the Company’s Amended Uncommitted Facilities were not renewed, and the Company repaid $ 134,000 outstanding under such facilities; the Company borrowed an additional $ 34,000 under two other Amended Uncommitted Facilities, and the Company has an outstanding balance of $ 188,600 under the Amended Uncommitted Facilities and the New Uncommitted Credit Facility, all or a portion of which balance is subject to repayment at the end of the then current interest period (currently thirty days ) if the respective lenders do not renew the loans. Lenders under the uncommitted facilities, which have an aggregate uncommitted availability of $ 415,000 , are not obligated to lend to the Company under such facilities.

Basis Of Presentation (Policy)

Basis Of Presentation (Policy)	6 Months Ended
	Feb. 29, 2020
Basis Of Presentation [Abstract]
Principles Of Consolidation	Principles of Consolidation The Condensed Consolidated Financial Statements include the accounts of MSC Industrial Direct Co., Inc., its wholly owned subsidiaries and entities in which it maintains a controlling financial interest. All significant intercompany balances and transactions have been eliminated in consolidation.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements Effective September 1, 2019, the Company adopted 2016-02, Leases (Topic 842) as subsequently amended. This is a comprehensive new standard that amends various aspects of existing accounting guidance for leases, including the recognition of a right-of-use asset and a lease liability on the balance sheet and disclosing key information about leasing arrangements. The Company utilized the optional transition method set forth in Accounting Standard Update (“ASU”) 2018-11 that allows entities to initially apply the new lease accounting standard at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. Therefore, the adoption did not require restatement of prior periods. In addition, the Company elected the transition package of practical expedients permitted within the standard, which allowed it to carry forward the historical lease classification for arrangements that commenced prior to the effective date. As a result of the adoption of ASC 842 on September 1, 2019, the Company recorded both operating lease assets of $ 61,212 and operating lease liabilities of $ 60,730 . The adoption of ASC 842 had an immaterial impact on the Company’s Condensed Consolidated Statement of Income and Condensed Consolidated Statement of Cash Flows. The adoption of this standard also resulted in a change in the naming convention for leases classified historically as capital leases. These leases are now referred to as finance leases. See Note 7 “Leases” for additional qualitative and quantitative information about the Company's leases.
Accounting Pronouncements Not Yet Adopted	Accounting Pronouncements Not Yet Adopted In June 2016, the Financial Accounting Standards Board (“FASB”) issued its final standard on measurement of credit losses on financial instruments. This standard, issued as ASU 2016-13, Financial Instruments – Credit Losses (Topic 326), 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 fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, with early adoption permitted for financial statement periods beginning after December 15, 2019. The new standard is effective for the Company for its fiscal year 2021. The Company is currently evaluating the standard to determine the impact, if any, of adoption to its consolidated financial statements. 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.

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Feb. 29, 2020
Revenue [Abstract]
Schedule Of Disaggregation Of Revenue	Thirteen Weeks Ended Thirteen Weeks Ended February 29, 2020 March 2, 2019 Manufacturing Heavy 47 % 49 % Manufacturing Light 23 % 22 % Government 7 % 7 % Retail/Wholesale 6 % 6 % Commercial Services 5 % 5 % Other (1) 12 % 11 % Total net sales 100 % 100 % __________________________ (1) The other category primarily includes individual customer and small business net sales not assigned to a specific industry classification. Twenty-Six Weeks Ended Twenty-Six Weeks Ended February 29, 2020 March 2, 2019 Manufacturing Heavy 47 % 49 % Manufacturing Light 23 % 22 % Government 7 % 8 % Retail/Wholesale 6 % 5 % Commercial Services 5 % 4 % Other (1) 12 % 12 % Total net sales 100 % 100 % __________________________ (1) The other category primarily includes individual customer and small business net sales not assigned to a specific industry classification. The Company’s net sales originating from the following geographic areas were as follows for the thirteen and twenty-six-week periods ended February 29, 2020 and March 2, 2019: Thirteen Weeks Ended Thirteen Weeks Ended February 29, 2020 March 2, 2019 United States $ 752,300 96 % $ 796,995 97 % UK 13,274 2 % 13,769 2 % Canada 10,147 1 % 9,299 1 % Mexico 10,373 1 % 2,941 < 1 % Total net sales $ 786,094 100 % $ 823,004 100 % Twenty-Six Weeks Ended Twenty-Six Weeks Ended February 29, 2020 March 2, 2019 United States $ 1,540,663 96 % $ 1,603,070 97 % UK 27,356 2 % 28,974 2 % Canada 21,258 1 % 19,616 1 % Mexico 20,418 1 % 2,941 < 1 % Total net sales $ 1,609,695 100 % $ 1,654,601 100 %

Net Income Per Share (Tables)

Net Income Per Share (Tables)	6 Months Ended
	Feb. 29, 2020
Net Income Per Share [Abstract]
Basic And Diluted Net Income Per Common Share Under The Two-Class Method	Thirteen Weeks Ended Twenty-Six Weeks Ended February 29, March 2, February 29, March 2, 2020 2019 2020 2019 Net income attributable to MSC Industrial as reported $ 55,500 $ 68,424 $ 120,918 $ 142,656 Less: Distributed net income available to participating securities — ( 5 ) ( 24 ) ( 24 ) Less: Undistributed net income available to participating securities — ( 15 ) — ( 46 ) Numerator for basic net income per share: Undistributed and distributed net income available to common shareholders $ 55,500 $ 68,404 $ 120,894 $ 142,586 Add: Undistributed net income allocated to participating securities — 15 — 46 Less: Undistributed net income reallocated to participating securities — ( 15 ) — ( 46 ) Numerator for diluted net income per share: Undistributed and distributed net income available to common shareholders $ 55,500 $ 68,404 $ 120,894 $ 142,586 Denominator: Weighted average shares outstanding for basic net income per share 55,467 55,139 55,371 55,320 Effect of dilutive securities 120 223 174 299 Weighted average shares outstanding for diluted net income per share 55,587 55,362 55,545 55,619 Net income per share Two-class method: Basic $ 1.00 $ 1.24 $ 2.18 $ 2.58 Diluted $ 1.00 $ 1.24 $ 2.18 $ 2.56 Potentially dilutive securities 1,096 1,123 1,447 718

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Feb. 29, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule Of Stock-Based Compensation Expense	Thirteen Weeks Ended Twenty-Six Weeks Ended February 29, March 2, February 29, March 2, 2020 2019 2020 2019 (Dollars in thousands) Stock options $ 754 $ 1,121 $ 1,729 $ 2,326 Restricted share awards ( 21 ) 338 184 870 Restricted stock units 3,039 2,364 5,915 4,729 Performance share units 168 — 214 — Associate Stock Purchase Plan 77 81 136 153 Total 4,017 3,904 8,178 8,078 Deferred income tax benefit ( 1,008 ) ( 980 ) ( 2,048 ) ( 2,028 ) Stock-based compensation expense, net $ 3,009 $ 2,924 $ 6,130 $ 6,050
Schedule Of Option Grant Fair Value Assumptions	Thirteen and Twenty-Six Weeks Ended March 2, 2019 Expected life (in years) 4.0 Risk-free interest rate 2.98 % Expected volatility 23.13 % Expected dividend yield 2.70 % Weighted-average grant-date fair value $ 14.05
Summary Of Stock Option Activity	Options Weighted-Average Exercise Price per Share Weighted-Average Remaining Contractual Term (in years) Aggregate Intrinsic Value Outstanding on August 31, 2019 1,894 $ 74.73 Granted — — Exercised ( 210 ) 63.87 Canceled/Forfeited ( 99 ) 80.56 Outstanding on February 29, 2020 1,585 $ 75.80 3.7 $ 747 Exercisable on February 29, 2020 1,056 $ 73.82 3.0 $ 747
Summary Of Performance Share Unit Activity	Shares Weighted-Average Grant-Date Fair Value Non-vested PSUs at August 31, 2019 — $ — Granted 31 76.32 Vested — — Canceled/Forfeited ( 3 ) 76.32 Non-vested PSUs at February 29, 2020 (1) 28 $ 76.32 (1) Excludes 3 shares of accrued incremental dividend equivalent rights on outstanding PSUs granted under the Company's 2015 Omnibus Incentive Plan.
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 RSAs at August 31, 2019 21 $ 82.00 Granted — — Vested ( 19 ) 82.90 Canceled/Forfeited ( 1 ) 70.40 Non-vested RSAs at February 29, 2020 1 $ 72.23
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 RSUs at August 31, 2019 416 $ 76.93 Granted 237 75.97 Vested ( 127 ) 74.72 Canceled/Forfeited ( 33 ) 77.23 Non-vested RSUs at February 29, 2020 (1) 493 $ 77.02 (1) Excludes approximately 60 shares of accrued incremental dividend equivalent rights on outstanding RSUs granted under the Company's 2015 Omnibus Incentive Plan.

Debt (Tables)

Debt (Tables)	6 Months Ended
	Feb. 29, 2020
Debt [Abstract]
Schedule Of Debt	February 29, August 31, 2020 2019 (Dollars in thousands) Uncommitted bank facilities $ 288,600 $ 155,000 Private Placement Debt: 2.65 % Senior notes, series A, due July 28, 2023 75,000 75,000 2.90 % Senior notes, series B, due July 28, 2026 100,000 100,000 3.79 % Senior notes, due June 11, 2025 20,000 20,000 Revolving Credit Facility 100,000 - Shelf Facility Agreements 90,000 90,000 Financing arrangements 903 82 Less: unamortized debt issuance costs ( 958 ) ( 1,169 ) Total debt, excluding obligations under finance leases $ 673,545 $ 438,913 Less: current portion (1) ( 409,116 ) ( 174,688 ) Total long-term debt, excluding obligations under finance leases $ 264,429 $ 264,225 __________________________ (1) Net of unamortized debt issuance costs expected to be amortized in the next twelve months.

Leases (Tables)

Leases (Tables)	6 Months Ended
	Feb. 29, 2020
Leases [Abstract]
Components Of Lease Expense	Thirteen Weeks Ended Twenty-Six Weeks Ended February 29, 2020 February 29, 2020 (Dollars in thousands) Operating lease cost $ 6,188 $ 12,360 Short-term lease cost 220 484 Finance lease cost: Amortization of leased assets 311 573 Interest on leased liabilities 30 55 Total Lease Cost $ 6,749 $ 13,472
Supplemental Balance Sheet Information	February 29, August 31, Classification 2020 2019 Assets (Dollars in thousands) Operating lease assets Operating lease assets $ 60,064 $ - Finance lease assets (1) Property, plant, and equipment, net 4,280 2,958 Total leased assets $ 64,344 $ 2,958 Liabilities Current Operating Current portion of operating lease liabilities $ 21,587 $ - Finance Current portion of long-term debt including obligations under finance leases 1,244 765 Noncurrent Operating Noncurrent operating lease liabilities 38,119 - Finance Long-term debt including obligations under finance leases 3,104 2,206 Total lease liabilities $ 64,054 $ 2,971 (1) Finance lease assets are net of accumulated amortization of $ 793 and $ 1,398 as of February 29, 2020 and August 31, 2019 . February 29, 2020 Weighted average remaining lease term (years) Operating Leases 4.0 Finance Leases 3.4 Weighted average discount rate Operating Leases 3.5 % Finance Leases 2.6 %
Supplemental Cash Flow Information	Twenty-Six Weeks Ended February 29, 2020 (Dollars in thousands) Operating Cash Outflows from Operating Leases $ 12,188 Operating Cash Outflows from Finance Leases 55 Financing Cash Outflows from Finance Leases 504 Leased assets obtained in exchange for new lease liabilities: Operating Leases $ 9,817 Finance Leases 1,973
Schedule Of Future Lease Payments	Fiscal Year (Dollars in thousands) Operating Leases Finance Leases Total 2020 (excluding six months) $ 12,804 $ 687 $ 13,491 2021 22,176 1,375 23,551 2022 13,883 1,344 15,227 2023 7,485 1,018 8,503 2024 5,110 152 5,262 Thereafter 7,274 3 7,277 Total Lease Payments 68,732 4,579 73,311 Less: Imputed Interest 9,026 231 9,257 Present Value of Lease Liabilities (1) $ 59,706 $ 4,348 $ 64,054 (1) Includes the current portion o f $ 21,587 for operating leases and $ 1,244 for finance leases
Schedule Of Future Lease Payments Under Prior Standard	August 31, 2019 Fiscal Year Operating Leases Capitalized Lease Obligations 2020 $ 22,463 $ 792 2021 18,022 812 2022 9,923 781 2023 5,184 604 2024 4,083 106 Thereafter 6,023 - Total minimum lease payments $ 65,698 $ 3,095 Less: interest 124 Present value of minimum lease payments $ 2,971 Less: current maturities 765 Present value of minimum lease payments less current maturities $ 2,206

Basis Of Presentation (Details)

Basis Of Presentation (Details) - USD ($) $ in Thousands		Feb. 29, 2020	Sep. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease assets		$ 60,064
Operating lease liabilities	[1]	$ 59,706
Restatement Adjustment [Member] | Accounting Standards Update 2016-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease assets			$ 61,212
Operating lease liabilities			$ 60,730
[1]	Includes the current portion o f $ 21,587 for operating leases and $ 1,244 for finance leases

Revenue (Narrative) (Details)

Revenue (Narrative) (Details)	6 Months Ended	12 Months Ended
	Feb. 29, 2020USD ($)segment	Aug. 31, 2019USD ($)
Accrued sales returns	$ 5,592,000	$ 5,432,000
Accrued sales incentives	18,843,000	14,770,000
Prepaid sales incentives	4,031,000	2,788,000
Performance obligation	0	0
Contract assets	0	0
Contract liabilities	$ 0	$ 0
Number of operating segments | segment	1
Number of reportable segments | segment	1
Maximum [Member]
Payment term	1 year

Revenue (Schedule Of Disaggrega

Revenue (Schedule Of Disaggregation Of Revenue) (Details) - USD ($)		3 Months Ended		6 Months Ended
		Feb. 29, 2020	Mar. 02, 2019	Feb. 29, 2020	Mar. 02, 2019
Disaggregation of Revenue [Line Items]
Net sales		$ 786,094,000	$ 823,004,000	$ 1,609,695,000	$ 1,654,601,000
Net Sales [Member] | Customer Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Concentration risk, percentage		100.00%	100.00%	100.00%	100.00%
Net Sales [Member] | Geographic Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Net sales		$ 786,094,000	$ 823,004,000	$ 1,609,695	$ 1,654,601
Concentration risk, percentage		100.00%	100.00%	100.00%	100.00%
Manufacturing Heavy [Member] | Net Sales [Member] | Customer Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Concentration risk, percentage		47.00%	49.00%	47.00%	49.00%
Manufacturing Light [Member] | Net Sales [Member] | Customer Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Concentration risk, percentage		23.00%	22.00%	23.00%	22.00%
Government [Member] | Net Sales [Member] | Customer Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Concentration risk, percentage		7.00%	7.00%	7.00%	8.00%
Retail/Wholesale [Member] | Net Sales [Member] | Customer Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Concentration risk, percentage		6.00%	6.00%	6.00%	5.00%
Commercial Services [Member] | Net Sales [Member] | Customer Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Concentration risk, percentage		5.00%	5.00%	5.00%	4.00%
Other Customers [Member] | Net Sales [Member] | Customer Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	[1]	12.00%	11.00%	12.00%	12.00%
United States [Member] | Net Sales [Member] | Geographic Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Net sales		$ 752,300,000	$ 796,995,000	$ 1,540,663	$ 1,603,070
Concentration risk, percentage		96.00%	97.00%	96.00%	97.00%
UK [Member] | Net Sales [Member] | Geographic Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Net sales		$ 13,274,000	$ 13,769,000	$ 27,356	$ 28,974
Concentration risk, percentage		2.00%	2.00%	2.00%	2.00%
Canada [Member] | Net Sales [Member] | Geographic Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Net sales		$ 10,147,000	$ 9,299,000	$ 21,258	$ 19,616
Concentration risk, percentage		1.00%	1.00%	1.00%	1.00%
Mexico [Member] | Net Sales [Member] | Geographic Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Net sales		$ 10,373,000	$ 2,941,000	$ 20,418	$ 2,941
Concentration risk, percentage		1.00%		1.00%
Mexico [Member] | Net Sales [Member] | Geographic Concentration Risk [Member] | Maximum [Member]
Disaggregation of Revenue [Line Items]
Concentration risk, percentage			1.00%		1.00%
[1]	The other category primarily includes individual customer and small business net sales not assigned to a specific industry classification.

Net Income Per Share (Details)

Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 29, 2020	Mar. 02, 2019	Feb. 29, 2020	Mar. 02, 2019
Net Income Per Share [Abstract]
Net income attributable to MSC Industrial as reported	$ 55,500	$ 68,424	$ 120,918	$ 142,656
Less: Distributed net income available to participating securities		(5)	(24)	(24)
Less: Undistributed net income available to participating securities		(15)		(46)
Undistributed and distributed net income available to common shareholders	55,500	68,404	120,894	142,586
Add: Undistributed net income allocated to participating securities		15		46
Less: Undistributed net income reallocated to participating securities		(15)		(46)
Undistributed and distributed net income available to common shareholders	$ 55,500	$ 68,404	$ 120,894	$ 142,586
Weighted average shares outstanding for basic net income per share	55,467	55,139	55,371	55,320
Effect of dilutive securities	120	223	174	299
Weighted average shares outstanding for diluted net income per share	55,587	55,362	55,545	55,619
Basic	$ 1	$ 1.24	$ 2.18	$ 2.58
Diluted	$ 1	$ 1.24	$ 2.18	$ 2.56
Potentially dilutive securities	1,096	1,123	1,447	718

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
	Feb. 29, 2020	Mar. 02, 2019
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share-based compensation cost	$ 5,436
Unrecognized share-based compensation weighted average period	1 year 10 months 24 days
Total intrinsic value of options exercised	$ 2,574	$ 1,617
Performance Share Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share-based compensation cost	$ 1,908
Unrecognized share-based compensation weighted average period	2 years 8 months 12 days
Vesting period	3 years
Performance Share Units [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	0.00%
Performance Share Units [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	200.00%
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share-based compensation cost	$ 32,969
Unrecognized share-based compensation weighted average period	3 years 2 months 12 days

Stock-Based Compensation (Sched

Stock-Based Compensation (Schedule Of Stock-Based Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 29, 2020	Mar. 02, 2019	Feb. 29, 2020	Mar. 02, 2019
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	$ 4,017	$ 3,904	$ 8,178	$ 8,078
Deferred income tax benefit	(1,008)	(980)	(2,048)	(2,028)
Stock-based compensation expense, net	3,009	2,924	6,130	6,050
Stock Options [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	754	1,121	1,729	2,326
Restricted Share Awards [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	(21)	338	184	870
Restricted Stock Units [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	3,039	2,364	5,915	4,729
Performance Share Units [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	168		214
Associate Stock Purchase Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	$ 77	$ 81	$ 136	$ 153

Stock-Based Compensation (Sch_2

Stock-Based Compensation (Schedule Of Option Grant Fair Value Assumptions) (Details)	6 Months Ended
	Mar. 02, 2019$ / shares
Stock-Based Compensation [Abstract]
Expected life (in years)	4 years
Risk-free interest rate	2.98%
Expected volatility	23.13%
Expected dividend yield	2.70%
Weighted-average grant-date fair value	$ 14.05

Stock-Based Compensation (Summa

Stock-Based Compensation (Summary Of Stock Option Activity) (Details) - Stock Options [Member] $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended
	Feb. 29, 2020USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, Beginning Balance, Options | shares	1,894
Exercised, Options | shares	(210)
Canceled/Forfeited, Options | shares	(99)
Outstanding, Ending Balance, Options | shares	1,585
Exercisable, Ending Balance, Options | shares	1,056
Outstanding, Beginning Balance, Weighted-Average Exercise Price per Share | $ / shares	$ 74.73
Exercised, Weighted-Average Exercise Price per Share | $ / shares	63.87
Canceled/Forfeited, Weighted-Average Exercise Price per Share | $ / shares	80.56
Outstanding, Ending Balance, Weighted-Average Exercise Price per Share | $ / shares	75.80
Exercisable, Ending Balance, Weighted-Average Exercise Price per Share | $ / shares	$ 73.82
Outstanding, Ending Balance, Weighted-Average Remaining Contractual Term (in years)	3 years 8 months 12 days
Exercisable, Ending Balance, Weighted-Average Remaining Contractual Term (in years)	3 years
Aggregate Intrinsic Value of options outstanding | $	$ 747
Aggregate Intrinsic Value of options exercisable | $	$ 747

Stock-Based Compensation (Sum_2

Stock-Based Compensation (Summary Of Non-Vested Share Award Activity) (Details) shares in Thousands	6 Months Ended
	Feb. 29, 2020$ / sharesshares
Restricted Share Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested share awards, Beginning balance, Shares	21
Vested, Shares	(19)
Canceled/Forfeited, Shares	(1)
Non-vested share awards, Ending balance, Shares	1
Non-vested share awards, Beginning balance, Weighted-Average Grant-Date Fair Value | $ / shares	$ 82
Vested, Weighted-Average Grant-Date Fair Value | $ / shares	82.90
Canceled/Forfeited, Weighted-Average Grant-Date Fair Value | $ / shares	70.40
Non-vested share awards, Ending balance, Weighted-Average Grant-Date Fair Value | $ / shares	$ 72.23
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested share awards, Beginning balance, Shares	416
Granted, Shares	237
Vested, Shares	(127)
Canceled/Forfeited, Shares	(33)
Non-vested share awards, Ending balance, Shares	493
Non-vested share awards, Beginning balance, Weighted-Average Grant-Date Fair Value | $ / shares	$ 76.93
Granted, Weighted-Average Grant-Date Fair Value | $ / shares	75.97
Vested, Weighted-Average Grant-Date Fair Value | $ / shares	74.72
Canceled/Forfeited, Weighted-Average Grant-Date Fair Value | $ / shares	77.23
Non-vested share awards, Ending balance, Weighted-Average Grant-Date Fair Value | $ / shares	$ 77.02
Incremental Dividend Rights, Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested share awards, Ending balance, Shares	60
Performance Share Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested share awards, Beginning balance, Shares
Granted, Shares	31
Canceled/Forfeited, Shares	(3)
Non-vested share awards, Ending balance, Shares	28	[1]
Non-vested share awards, Beginning balance, Weighted-Average Grant-Date Fair Value | $ / shares
Granted, Weighted-Average Grant-Date Fair Value | $ / shares	76.32
Canceled/Forfeited, Weighted-Average Grant-Date Fair Value | $ / shares	76.32
Non-vested share awards, Ending balance, Weighted-Average Grant-Date Fair Value | $ / shares	$ 76.32	[1]
Incremental Dividend Rights, Performance Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested share awards, Ending balance, Shares	3
[1]	Excludes 3 shares of accrued incremental dividend equivalent rights on outstanding PSUs granted under the Company's 2015 Omnibus Incentive Plan.

Fair Value (Details)

Fair Value (Details) - USD ($)	3 Months Ended				6 Months Ended
	Feb. 29, 2020	Nov. 30, 2019	Mar. 02, 2019	Dec. 01, 2018	Feb. 29, 2020	Mar. 02, 2019
Fair Value [Abstract]
Fair value remeasurement of non-financial assets on non-recurring basis	$ 0		$ 0		$ 0	$ 0
Fair value remeasurement of non-financial liabilities on non-recurring basis		$ 0		$ 0

Debt (Revolving Credit Faciliti

Debt (Revolving Credit Facilities) (Narrative) (Details)	3 Months Ended	6 Months Ended
	Dec. 01, 2018USD ($)agreement	Feb. 29, 2020USD ($)agreement	Mar. 02, 2019USD ($)	Aug. 31, 2019USD ($)
Debt Instrument [Line Items]
Borrowing rate under Credit Facility		2.57%		3.01%
Borrowings under the revolving credit facilities		$ 389,600,000	$ 326,000,000
Repayments of debt		156,000,000	$ 269,000,000
Committed Bank 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
Outstanding balance		$ 100,000,000		$ 0
Uncommitted Bank Facilities [Member]
Debt Instrument [Line Items]
Number of credit facilities | agreement	6	5
Credit facility, maximum borrowing capacity	$ 440,000,000	$ 410,000,000
Outstanding balance		288,600,000		$ 155,000,000
Amended Uncommitted Facilities [Member]
Debt Instrument [Line Items]
Outstanding balance		288,000,000
New Uncommitted Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity		5,000,000
Outstanding balance		$ 600,000

Debt (Shelf Facility Agreements

Debt (Shelf Facility Agreements) (Narrative) (Details)	6 Months Ended
	Feb. 29, 2020USD ($)
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
Series 2018A Notes [Member]
Line of Credit Facility [Line Items]
Principal amount	$ 20,000,000
Interest rate	3.22%
Maturity date	Jun. 11, 2020
Series 2018B Notes [Member]
Line of Credit Facility [Line Items]
Principal amount	$ 20,000,000
Interest rate	3.42%
Maturity date	Jun. 11, 2021
Senior Notes Due January 2023 [Member]
Line of Credit Facility [Line Items]
Principal amount	$ 50,000,000
Interest rate	3.04%
Maturity date	Jan. 12, 2023
Met Life Note Purchase Agreement [Member]
Line of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity	$ 250,000,000
Remaining borrowing capacity	210,000,000
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

Debt (Financing Arrangements) (

Debt (Financing Arrangements) (Narrative) (Details) $ in Thousands	6 Months Ended
	Feb. 29, 2020USD ($)
Capital Leased Assets [Line Items]
Borrowings under financing obligations	$ 1,164
IT Equipment And Software [Member]
Capital Leased Assets [Line Items]
Property, plant and equipment, gross	1,328
Accumulated amortization	$ 343

Debt (Schedule Of Debt) (Detail

Debt (Schedule Of Debt) (Details) - USD ($)		6 Months Ended
		Feb. 29, 2020	Aug. 31, 2019
Debt Instrument [Line Items]
Financing arrangements		$ 903,000	$ 82,000
Less: unamortized debt issuance costs		(958,000)	(1,169,000)
Total debt, excluding obligations under finance leases		673,545,000	438,913,000
Less: current portion	[1]	(409,116,000)	(174,688,000)
Total long-term debt, excluding obligations under finance leases		264,429,000	264,225,000
Committed Bank Facility [Member]
Debt Instrument [Line Items]
Credit facility		$ 100,000,000	0
Maturity date		Apr. 14, 2022
Uncommitted Bank Facilities [Member]
Debt Instrument [Line Items]
Credit facility		$ 288,600,000	155,000,000
Shelf Facility Agreement [Member]
Debt Instrument [Line Items]
Shelf Facility		90,000,000	90,000,000
Senior Notes Series A [Member] | Private Placement Debt [Member]
Debt Instrument [Line Items]
Principal amount		$ 75,000,000	75,000,000
Interest rate		2.65%
Maturity date		Jul. 28, 2023
Senior Notes Series B [Member] | Private Placement Debt [Member]
Debt Instrument [Line Items]
Principal amount		$ 100,000,000	100,000,000
Interest rate		2.90%
Maturity date		Jul. 28, 2026
Senior Notes Due June 11, 2025 [Member] | Private Placement Debt [Member]
Debt Instrument [Line Items]
Principal amount		$ 20,000,000	$ 20,000,000
Interest rate		3.79%
Maturity date		Jun. 11, 2025
[1]	Net of unamortized debt issuance costs expected to be amortized in the next twelve months.

Leases (Components Of Lease Exp

Leases (Components Of Lease Expense) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Feb. 29, 2020	Feb. 29, 2020
Leases [Abstract]
Operating lease cost	$ 6,188	$ 12,360
Short-term lease cost	220	484
Amortization of leased assets	311	573
Interest on leased liabilities	30	55
Total Lease Cost	$ 6,749	$ 13,472

Leases (Supplemental Balance Sh

Leases (Supplemental Balance Sheet Information) (Details) - USD ($) $ in Thousands		Feb. 29, 2020		Aug. 31, 2019
Leases [Abstract]
Operating lease assets		$ 60,064
Finance lease assets	[1]	4,280		$ 2,958
Total leased assets		64,344		2,958
Current operating lease liabilities		21,587
Current finance lease liabilities		1,244		765
Noncurrent operating lease liabilities		38,119
Noncurrent finance lease liabilities		3,104		2,206
Total lease liabilities		$ 64,054	[2]	2,971
Weighted average remaining lease term (years), Operating leases		4 years
Weighted average remaining lease term (years), Finance leases		3 years 4 months 24 days
Weighted average discount rate, Operating leases		3.50%
Weighted average discount rate, Finance leases		2.60%
Finance lease right of use assets, Accumulated amortization		$ 793		$ 1,398
[1]	Finance lease assets are net of accumulated amortization of $ 793 and $ 1,398 as of February 29, 2020 and August 31, 2019
[2]	Includes the current portion o f $ 21,587 for operating leases and $ 1,244 for finance leases

Leases (Supplemental Cash Flow

Leases (Supplemental Cash Flow Information) (Details) $ in Thousands	6 Months Ended
	Feb. 29, 2020USD ($)
Leases [Abstract]
Operating Cash Outflows from Operating Leases	$ 12,188
Operating Cash Outflows from Finance Leases	55
Financing Cash Outflows from Finance Leases	504
Leased assets obtained in exchange for new operating lease liabilities	9,817
Leased assets obtained in exchange for new finance lease liabilities	$ 1,973

Leases (Schedule Of Future Leas

Leases (Schedule Of Future Lease Payments) (Details) - USD ($) $ in Thousands		Feb. 29, 2020		Aug. 31, 2019
Operating Leases
2020 (excluding six months)		$ 12,804
2021		22,176
2022		13,883
2023		7,485
2024		5,110
Thereafter		7,274
Total Lease Payments		68,732
Less: Imputed Interest		9,026
Present Value of Lease Liabilities	[1]	59,706
Finance Leases
2020 (excluding six months)		687
2021		1,375
2022		1,344
2023		1,018
2024		152
Thereafter		3
Total Lease Payments		4,579
Less: Imputed Interest		231
Present Value of Lease Liabilities	[1]	4,348
Total
2020 (excluding six months)		13,491
2021		23,551
2022		15,227
2023		8,503
2024		5,262
Thereafter		7,277
Total Lease Payments		73,311
Less: Imputed Interest		9,257
Total lease liabilities		64,054	[1]	$ 2,971
Current portion of operating lease liabilities		21,587
Current finance lease liabilities		$ 1,244		$ 765
[1]	Includes the current portion o f $ 21,587 for operating leases and $ 1,244 for finance leases

Leases (Schedule Of Future Le_2

Leases (Schedule Of Future Lease Payments Under Prior Standard) (Details) $ in Thousands	Aug. 31, 2019USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2020	$ 22,463
2021	18,022
2022	9,923
2023	5,184
2024	4,083
Thereafter	6,023
Total minimum lease payments	65,698
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2020	792
2021	812
2022	781
2023	604
2024	106
Total minimum lease payments	3,095
Less: interest	124
Present value of minimum lease payments	2,971
Less: current maturities	765
Present value of minimum lease payments less current maturities	$ 2,206

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	Mar. 31, 2020	Feb. 29, 2020	Mar. 02, 2019	Feb. 29, 2020	Mar. 02, 2019
Components Of Shareholders Equity [Line Items]
Treasury stock reissued to fund plan, shares		19	20	35	33
Cash dividends paid per common share					$ 1.26
Cash dividends paid				$ 360,815	$ 69,551
Subsequent Event [Member]
Components Of Shareholders Equity [Line Items]
Dividends payable per share	$ 0.75
Dividend payable date	Apr. 28, 2020
Dividends record date	Apr. 14, 2020
Dividend payable amount	$ 41,668
Regular Dividends [Member]
Components Of Shareholders Equity [Line Items]
Cash dividends paid per common share				$ 1.50
Cash dividends paid				$ 83,181
Special Dividends [Member]
Components Of Shareholders Equity [Line Items]
Cash dividends paid per common share				$ 5
Cash dividends paid				$ 277,634
Class A Common Stock [Member]
Components Of Shareholders Equity [Line Items]
Common stock shares repurchased		3	275	44	315
Treasury stock repurchased, and treasury stock repurchased and retired, shares			275		1,053
Treasury stock repurchased, and treasury stock repurchased and retired, amount			$ 20,898		$ 84,425
Number of shares authorized for repurchase		1,157		1,157
Treasury Stock [Member] | Class A Common Stock [Member]
Components Of Shareholders Equity [Line Items]
Purchase of treasury stock		$ 199	$ 20,898	$ 3,208	$ 24,098

Restructuring and Other Relat_2

Restructuring and Other Related Costs (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Feb. 29, 2020USD ($)	Feb. 29, 2020USD ($)employee	Aug. 31, 2019USD ($)
Restructuring and Other Related Costs [Abstract]
Consulting fees associated with optimization	$ 2,132
Number of associates with accrued severance benefits | employee		125
Severance and separation benefit charges		$ 2,377
Stock compensation expense, accelerated vesting		87
Cash payments		7,955
Severance and separation benefit balance	$ 379	$ 379	$ 6,044

Business Combination (Details)

Business Combination (Details) $ in Thousands	6 Months Ended
	Feb. 29, 2020USD ($)
TAC [Member]
Business Acquisition [Line Items]
Post-closing working capital adjustment paid out	$ 2,286

Product Warranties (Details)

Product Warranties (Details)	6 Months Ended
	Feb. 29, 2020
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)	6 Months Ended
	Feb. 29, 2020USD ($)
Income Taxes [Abstract]
Changes in unrecognized tax benefits	$ 0

Subsequent Events (Details)

Subsequent Events (Details)	Apr. 07, 2020USD ($)agreement	Mar. 31, 2020USD ($)	Feb. 29, 2020USD ($)	Mar. 02, 2019USD ($)	Aug. 31, 2019USD ($)	Sep. 01, 2018USD ($)
Subsequent Event [Line Items]
Cash and cash equivalents			$ 44,867,000	$ 31,167,000	$ 32,286,000	$ 46,217,000
Borrowings under the revolving credit facilities			389,600,000	326,000,000
Proceeds from lines of credit			$ 389,600,000	$ 326,000,000
Committed Bank Facility [Member]
Subsequent Event [Line Items]
Maturity date			Apr. 14, 2022
Remaining borrowing capacity			$ 495,850,000
Outstanding balance			100,000,000		0
Committed Bank Facility [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Remaining borrowing capacity		$ 295,850,000
Payments under revolving loans from credit facility		100,000,000
Borrowings under the revolving credit facilities		300,000,000
Proceeds from lines of credit		300,000,000
Uncommitted Bank Facilities [Member]
Subsequent Event [Line Items]
Outstanding balance			288,600,000		$ 155,000,000
Uncommitted Bank Facilities [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Remaining borrowing capacity	$ 415,000,000
Amended Uncommitted Facilities [Member]
Subsequent Event [Line Items]
Outstanding balance			288,000,000
Amended Uncommitted Facilities [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Payments under revolving loans from credit facility	134,000,000
Borrowings under the revolving credit facilities	$ 34,000,000
Number of debt agreements terminated | agreement	2
Proceeds from lines of credit	$ 34,000,000
Number of debt agreements borrowed from during the period | agreement	2
Outstanding balance	$ 188,600,000
Debt agreement, interest period	30 days
Series 2019A Notes, 2.40%, Due March 5, 2024 [Member] | Met Life Note Purchase Agreement [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Principal amount		$ 50,000,000
Interest rate		2.40%
Maturity date		Mar. 5, 2024
Senior Notes, 2.60%, Due March 5, 2027 [Member] | Met Life Note Purchase Agreement [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Principal amount		$ 50,000,000
Interest rate		2.60%
Maturity date		Mar. 5, 2027
Met Life Note Purchase Agreement [Member]
Subsequent Event [Line Items]
Remaining borrowing capacity			210,000,000
Prudential Note Purchase Agreement [Member]
Subsequent Event [Line Items]
Remaining borrowing capacity			$ 200,000,000