The Simply Good Foods Company (SMPL) 10-Q 30 Jun 22 2022 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	May 28, 2022	Jun. 25, 2022
Document Information [Line Items]
Entity Central Index Key	0001702744
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	May 28, 2022
Document Fiscal Period Focus	Q3
Entity File Number	001-38115
Entity Registrant Name	The Simply Good Foods Company
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-1038121
Entity Address, Address Line One	1225 17th Street, Suite 1000
Entity Address, City or Town	Denver
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80202
City Area Code	303
Local Phone Number	633-2840
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	SMPL
Security Exchange Name	NASDAQ
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
Current Fiscal Year End Date	--08-27
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		100,370,687
Document Transition Report	false
Amendment Flag	false
Document Fiscal Year Focus	2022

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	May 28, 2022	Aug. 28, 2021
Current assets:
Cash	$ 56,720	$ 75,345
Accounts receivable, net	146,377	111,456
Inventories	111,709	97,269
Prepaid expenses	5,066	4,902
Other current assets	46,852	9,694
Total current assets	366,724	298,666
Long-term assets:
Property and equipment, net	17,927	16,584
Intangible assets, net	1,127,136	1,139,041
Goodwill	543,134	543,134
Other long-term assets	59,736	54,792
Total assets	2,114,657	2,052,217
Current liabilities:
Accounts payable	64,729	59,713
Accrued interest	214	60
Accrued expenses and other current liabilities	55,066	53,606
Current maturities of long-term debt	278	285
Total current liabilities	120,287	113,664
Long-term liabilities:
Long-term debt, less current maturities	402,594	451,269
Deferred income taxes	108,078	93,755
Warrant liability	0	159,835
Other long-term liabilities	46,376	44,890
Total liabilities	677,335	863,413
See commitments and contingencies (Note 9)
Stockholders’ equity:
Preferred stock, $0.01 par value, 100,000,000 shares authorized, none issued	0	0
Common stock, $0.01 par value, 600,000,000 shares authorized, 101,315,226 and 95,882,908 shares issued at May 28, 2022 and August 28, 2021, respectively	1,013	959
Treasury stock, 887,976 shares and 98,234 shares at cost at May 28, 2022 and August 28, 2021, respectively	(30,649)	(2,145)
Additional paid-in-capital	1,284,342	1,085,001
Retained earnings	184,254	105,807
Accumulated other comprehensive loss	(1,638)	(818)
Total stockholders’ equity	1,437,322	1,188,804
Total liabilities and stockholders’ equity	$ 2,114,657	$ 2,052,217

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares	May 28, 2022	Aug. 28, 2021
Statement of Financial Position [Abstract]
Preferred stock par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock shares authorized (in shares)	100,000,000	100,000,000
Preferred stock shares issued (in shares)	0	0
Common stock par value (in dollars per share)	$ 0.01	$ 0.01
Common stock shares authorized (in shares)	600,000,000	600,000,000
Common stock shares issued (in shares)	101,315,226	95,882,908
Treasury stock (in shares)	887,976	98,234

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 28, 2022	May 29, 2021	May 28, 2022	May 29, 2021
Income Statement [Abstract]
Net sales	$ 316,531	$ 284,001	$ 894,514	$ 745,760
Cost of goods sold	197,883	162,998	550,788	440,451
Gross profit	118,648	121,003	343,726	305,309
Operating expenses:
Selling and marketing	32,334	30,826	94,816	82,171
General and administrative	26,721	25,668	76,711	77,645
Depreciation and amortization	4,317	4,187	12,966	12,643
Total operating expenses	63,372	60,681	184,493	172,459
Income from operations	55,276	60,322	159,233	132,850
Other income (expense):
Interest income	0	1	1	4
Interest expense	(4,881)	(7,985)	(16,528)	(24,352)
Loss in fair value change of warrant liability	0	(35,833)	(30,062)	(60,714)
Gain on legal settlement	0	5,000	0	5,000
Gain (loss) on foreign currency transactions	76	(272)	503	712
Other income	17	70	26	229
Total other expense	(4,788)	(39,019)	(46,060)	(79,121)
Income before income taxes	50,488	21,303	113,173	53,729
Income tax expense	11,654	15,408	34,726	31,095
Net income	38,834	5,895	78,447	22,634
Other comprehensive income:
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	(72)	95	(820)	293
Comprehensive income	$ 38,762	$ 5,990	$ 77,627	$ 22,927
Earnings per share from net income:
Basic (in dollars per share)	$ 0.39	$ 0.06	$ 0.80	$ 0.24
Diluted (in dollars per share)	$ 0.38	$ 0.06	$ 0.78	$ 0.23
Weighted average shares outstanding:
Basic (in shares)	100,426,227	95,767,629	98,294,114	95,730,581
Diluted (in shares)	102,237,457	97,589,656	100,190,068	97,197,180

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	May 28, 2022	May 29, 2021
Operating activities
Net income	$ 78,447	$ 22,634
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	14,398	13,508
Amortization of deferred financing costs and debt discount	2,073	3,449
Stock compensation expense	8,691	5,766
Loss in fair value change of warrant liability	30,062	60,714
Estimated credit losses	148	0
Unrealized gain on foreign currency transactions	(503)	(712)
Deferred income taxes	14,140	13,670
Amortization of operating lease right-of-use asset	4,955	3,385
Loss on operating lease right-of-use asset impairment	0	686
Gain on termination of lease	(30)	(156)
Other	345	769
Changes in operating assets and liabilities:
Accounts receivable, net	(35,269)	(28,737)
Inventories	(15,006)	(20,318)
Prepaid expenses	(170)	(1,189)
Other current assets	(37,288)	(5,376)
Accounts payable	5,585	13,380
Accrued interest	154	(626)
Accrued expenses and other current liabilities	676	12,745
Other assets and liabilities	(4,045)	(2,104)
Net cash provided by operating activities	67,363	91,488
Investing activities
Purchases of property and equipment	(4,696)	(3,232)
Issuance of note receivable	(2,400)	0
Proceeds from sale of business	0	5,800
Investments in intangible and other assets	(187)	(114)
Net cash (used in) provided by investing activities	(7,283)	2,454
Financing activities
Proceeds from option exercises	4,343	700
Tax payments related to issuance of restricted stock units and performance stock units	(3,536)	(320)
Payments on finance lease obligations	(235)	(269)
Repurchase of common stock	(28,504)	0
Principal payments of long-term debt	(50,000)	(100,000)
Deferred financing costs	(544)	0
Net cash used in financing activities	(78,476)	(99,889)
Net decrease in cash	(18,396)	(5,947)
Cash and cash equivalents
Effect of exchange rate on cash	(229)	273
Cash at beginning of period	75,345	95,847
Cash and cash equivalents at end of period	56,720	90,173
Supplemental disclosures of cash flow information
Cash paid for interest	14,301	21,529
Cash paid for taxes	43,430	15,282
Non-cash proceeds from sale of business	0	3,000
Operating lease right-of-use assets exchanged for operating lease liabilities	6,881	316
Issuance of common stock in extinguishment of warrant liabilities	$ 189,897	$ 0

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders Equity Statement - USD ($) $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning balance at Aug. 29, 2020	$ 1,139,333	$ 958	$ (2,145)	$ 1,076,472	$ 64,927	$ (879)
Beginning balance (in shares) at Aug. 29, 2020		95,751,845
Beginning balance, Treasury (in shares) at Aug. 29, 2020			98,234
Net income	42,953				42,953
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	1,110			1,110
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	(45)					(45)
Shares issued upon vesting of Restricted Stock Units	(201)	$ 0		(201)
Shares issued upon vesting of Restricted Stock Units (in shares)		53,908
Exercise of options to purchase common stock	157	$ 0		157
Exercise of options to purchase common stock (in shares)		13,118
Ending balance (in shares) at Nov. 28, 2020		95,818,871
Ending balance, Treasury (in shares) at Nov. 28, 2020			98,234
Ending balance at Nov. 28, 2020	1,183,307	$ 958	$ (2,145)	1,077,538	107,880	(924)
Beginning balance at Aug. 29, 2020	1,139,333	$ 958	$ (2,145)	1,076,472	64,927	(879)
Beginning balance (in shares) at Aug. 29, 2020		95,751,845
Beginning balance, Treasury (in shares) at Aug. 29, 2020			98,234
Net income	22,634
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	$ 293
Repurchase of common stock (in shares)	0
Ending balance (in shares) at May. 29, 2021		95,875,778
Ending balance, Treasury (in shares) at May. 29, 2021			98,234
Ending balance at May. 29, 2021	$ 1,168,406	$ 959	$ (2,145)	1,082,617	87,561	(586)
Beginning balance at Nov. 28, 2020	1,183,307	$ 958	$ (2,145)	1,077,538	107,880	(924)
Beginning balance (in shares) at Nov. 28, 2020		95,818,871
Beginning balance, Treasury (in shares) at Nov. 28, 2020			98,234
Net income	(26,214)				(26,214)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	2,484			2,484
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	243					243
Shares issued upon vesting of Restricted Stock Units	(51)	$ 0		(51)
Shares issued upon vesting of Restricted Stock Units (in shares)		7,034
Exercise of options to purchase common stock	370	$ 1		369
Exercise of options to purchase common stock (in shares)		30,810
Ending balance (in shares) at Feb. 27, 2021		95,856,715
Ending balance, Treasury (in shares) at Feb. 27, 2021			98,234
Ending balance at Feb. 27, 2021	1,160,139	$ 959	$ (2,145)	1,080,340	81,666	(681)
Net income	5,895				5,895
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	2,172			2,172
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	95					95
Shares issued upon vesting of Restricted Stock Units	(68)	$ 0		(68)
Shares issued upon vesting of Restricted Stock Units (in shares)		4,683
Exercise of options to purchase common stock	173	$ 0		173
Exercise of options to purchase common stock (in shares)		14,380
Ending balance (in shares) at May. 29, 2021		95,875,778
Ending balance, Treasury (in shares) at May. 29, 2021			98,234
Ending balance at May. 29, 2021	1,168,406	$ 959	$ (2,145)	1,082,617	87,561	(586)
Treasury Stock, Value	2,145		$ (2,145)
Additional paid-in-capital	1,085,001			1,085,001
Common stock, $0.01 par value, 600,000,000 shares authorized, 101,315,226 and 95,882,908 shares issued at May 28, 2022 and August 28, 2021, respectively	959	$ 959
Accumulated other comprehensive loss	(818)					(818)
Beginning balance at Aug. 28, 2021	$ 1,188,804				105,807
Beginning balance (in shares) at Aug. 28, 2021		95,882,908
Beginning balance, Treasury (in shares) at Aug. 28, 2021	98,234		98,234
Net income	$ 21,152				21,152
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	2,605			2,605
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	(40)					(40)
Shares issued upon vesting of Restricted Stock Units	(3,188)	$ 2		(3,190)
Shares issued upon vesting of Restricted Stock Units (in shares)		227,729
Exercise of options to purchase common stock	274	$ 0		274
Exercise of options to purchase common stock (in shares)		19,804
Ending balance (in shares) at Nov. 27, 2021		96,130,441
Ending balance, Treasury (in shares) at Nov. 27, 2021			98,234
Ending balance at Nov. 27, 2021	1,209,607				126,959
Beginning balance at Aug. 28, 2021	$ 1,188,804				105,807
Beginning balance (in shares) at Aug. 28, 2021		95,882,908
Beginning balance, Treasury (in shares) at Aug. 28, 2021	98,234		98,234
Net income	$ 78,447
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	$ (820)
Repurchase of common stock (in shares)	789,742
Ending balance (in shares) at May. 28, 2022		101,315,226
Ending balance, Treasury (in shares) at May. 28, 2022	887,976		887,976
Ending balance at May. 28, 2022	$ 1,437,322				184,254
Treasury Stock, Value			$ (2,145)
Additional paid-in-capital				1,084,690
Common stock, $0.01 par value, 600,000,000 shares authorized, 101,315,226 and 95,882,908 shares issued at May 28, 2022 and August 28, 2021, respectively		$ 961
Accumulated other comprehensive loss						(858)
Beginning balance at Nov. 27, 2021	1,209,607				126,959
Beginning balance (in shares) at Nov. 27, 2021		96,130,441
Beginning balance, Treasury (in shares) at Nov. 27, 2021			98,234
Net income	18,461				18,461
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	3,092			3,092
Foreign currency translation adjustments	439					439
Reclassification adjustment for currency translation gains related to the liquidation of foreign entities	(1,147)					(1,147)
Treasury Stock, Value, Acquired, Cost Method	(20,394)		$ (20,394)
Repurchase of common stock (in shares)			571,521
Warrant conversion	189,897	$ 48		189,849
Warrant conversion (in shares)		4,830,761
Shares issued upon vesting of Restricted Stock Units	(101)	$ 1		(102)
Shares issued upon vesting of Restricted Stock Units (in shares)		9,679
Exercise of options to purchase common stock	1,200	$ 1		1,199
Exercise of options to purchase common stock (in shares)		100,000
Ending balance (in shares) at Feb. 26, 2022		101,070,881
Ending balance, Treasury (in shares) at Feb. 26, 2022			669,755
Ending balance at Feb. 26, 2022	1,401,054				145,420
Treasury Stock, Value			$ (22,539)
Additional paid-in-capital				1,278,728
Common stock, $0.01 par value, 600,000,000 shares authorized, 101,315,226 and 95,882,908 shares issued at May 28, 2022 and August 28, 2021, respectively		$ 1,011
Accumulated other comprehensive loss						(1,566)
Net income	38,834				38,834
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	2,994			2,994
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	(72)
Foreign currency translation adjustments	(72)					(72)
Treasury Stock, Value, Acquired, Cost Method	$ (8,110)		$ (8,110)
Repurchase of common stock (in shares)	218,221		218,221
Shares issued upon vesting of Restricted Stock Units	$ (247)	$ 0		(247)
Shares issued upon vesting of Restricted Stock Units (in shares)		11,358
Exercise of options to purchase common stock	$ 2,869	$ 2		2,867
Exercise of options to purchase common stock (in shares)		232,987
Ending balance (in shares) at May. 28, 2022		101,315,226
Ending balance, Treasury (in shares) at May. 28, 2022	887,976		887,976
Ending balance at May. 28, 2022	$ 1,437,322				$ 184,254
Treasury Stock, Value	30,649		$ (30,649)
Additional paid-in-capital	1,284,342			$ 1,284,342
Common stock, $0.01 par value, 600,000,000 shares authorized, 101,315,226 and 95,882,908 shares issued at May 28, 2022 and August 28, 2021, respectively	1,013	$ 1,013
Accumulated other comprehensive loss	$ (1,638)					$ (1,638)

Nature of Operations and Princi

Nature of Operations and Principles of Consolidation	9 Months Ended
	May 28, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Principles of Consolidation	Description of Business The Simply Good Foods Company (“Simply Good Foods” or the “Company”) is a consumer packaged food and beverage company that aims to lead the nutritious snacking movement with trusted brands that offer a variety of convenient, innovative, great-tasting, better-for-you snacks and meal replacements. The product portfolio the Company develops, markets and sells consists primarily of protein bars, ready-to-drink (“RTD”) shakes, sweet and salty snacks and confectionery products marketed under the Atkins®, Atkins Endulge®, and Quest® brand names. Simply Good Foods is poised to expand its wellness platform through innovation and organic growth along with acquisition opportunities in the nutritional snacking space. The Company’s nutritious snacking platform consists of brands that specialize in providing products for consumers that follow certain nutritional philosophies and health-and-wellness trends: Atkins® for those following a low-carb lifestyle and Quest® for consumers seeking a variety of protein-rich foods and beverages that also limit sugars and simple carbs. The Company distributes its products in major retail channels, primarily in North America, including grocery, club, and mass merchandise, as well as through e-commerce, convenience, specialty, and other channels. The Company’s portfolio of nutritious snacking brands gives it a strong platform with which to introduce new products, expand distribution, and attract new consumers to its products. The common stock of Simply Good Foods is listed on the Nasdaq Capital Market under the symbol “SMPL.” Unaudited Interim Condensed Consolidated Financial Statements The unaudited interim condensed consolidated financial statements include the accounts of Simply Good Foods and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated. Unless the context otherwise requires, “we,” “us,” “our” and the “Company” refer to Simply Good Foods and its subsidiaries. The Company maintains its accounting records on a 52/53-week fiscal year, ending on the last Saturday in August of each year. The interim condensed consolidated financial statements and related notes of the Company and its subsidiaries are unaudited. The unaudited interim condensed consolidated financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) and the rules and regulations of the Securities and Exchange Commission (the “SEC”). The unaudited interim condensed consolidated financial statements reflect all adjustments and disclosures which are, in the Company’s opinion, necessary for a fair presentation of the results of operations, financial position and cash flows for the indicated periods. All such adjustments were of a normal and recurring nature unless otherwise disclosed. The year-end balance sheet data was derived from the audited financial statements and, in accordance with the instructions to Form 10-Q, certain information and footnote disclosures required by GAAP have been condensed or omitted. The results reported in these unaudited interim condensed consolidated financial statements are not necessarily indicative of the results that may be reported for the entire fiscal year and should be read in conjunction with the Company’s consolidated financial statements for the fiscal year ended August 28, 2021, included in the Company’s Annual Report on Form 10-K (“Annual Report”) filed with the SEC on October 26, 2021. While the Company’s business has continued to improve from the end of fiscal year 2021, driven in part by the increasing normalization of consumer mobility and shopper traffic patterns in brick-and-mortar retailers versus prior periods that were pressured by COVID-19 movement restrictions, the ultimate effect COVID-19, supply chain challenges, cost pressures, and the overall effects of the current high inflation environment on consumer purchasing patterns could have on our business continues to be not fully known. Additionally, management is continuing to monitor the conflict in Ukraine, especially regarding the availability and cost of raw materials that are produced in this region. Management is also monitoring for signs of any expansion of economic or supply chain disruptions or broader supply chain inflationary costs resulting either directly or indirectly from the crisis. Factors contributing to the uncertainty described above, among other things, include (i) continued supply chain disruptions, including disruptions resulting from labor shortages and other cost pressures, (ii) changes to customer operations, (iii) a reversal in improving consumer purchasing and consumption behavior, and (iv) unforeseen business disruptions or other effects due to current global geopolitical tensions, including relating directly or indirectly to the Ukraine crisis.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	May 28, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Refer to Note 2, Summary of Significant Accounting Policies , to the consolidated financial statements included in the Annual Report for a description of significant accounting policies. Recently Issued and Adopted Accounting Pronouncements Recently Issued Accounting Pronouncements Not Yet Adopted In March 2020, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2020-04, Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional guidance for a limited period of time to ease the potential burden in accounting for reference rate reform on financial reporting. The amendments in this ASU are effective for all entities and can be applied to contract modifications due to rate reform and eligible existing and new hedging relationships entered into between March 12, 2020 and December 31, 2022. The amendments of this ASU should be applied on a prospective basis. On January 21, 2022, the Company entered into a repricing amendment (the “2022 Repricing Amendment”) to its credit agreement with Barclays Bank PLC and other parties (as amended to date, the “Credit Agreement”), as described in Note 5, Long-Term Debt and Line of Credit. In addition to replacing the London Interbank Offered Rate (“LIBOR”) as the Credit Agreement’s reference rate with the Secured Overnight Financing Rate (“SOFR”), the 2022 Repricing Amendment contemporaneously modified other terms that changed, or had the potential to change, the amount or timing of contractual cash flows as contemplated by the guidance in ASU 2020-04. As such, the contract modifications related to the 2022 Repricing Amendment were outside of the scope of the optional guidance in ASU 2020-04. The Company will continue to monitor the effects of rate reform, if any, on any new or amended contracts through December 31, 2022. The Company does not anticipate the amendments in this ASU will be material to its consolidated financial statements. Recently Adopted Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which amends existing guidance related to the accounting for income taxes. This ASU was intended to simplify the accounting for income taxes by removing certain exceptions to the general principles of accounting for income taxes and to improve the consistent application of GAAP for other areas of accounting for income taxes by clarifying and amending existing guidance. The Company adopted this ASU as of the first day of fiscal year 2022. The adoption of this ASU did not have a material effect on the consolidated financial statements. In October 2020, the FASB issued ASU 2020-10, Codification Improvements, which provided updates for technical corrections, clarifications to guidance, simplifications to wording or structure of guidance, and other minor improvements across various areas of accounting within GAAP. The Company adopted this ASU as of the first day of fiscal year 2022 on a prospective basis. The adoption of this ASU did not have a material effect on the consolidated financial statements. No other new accounting pronouncement issued or effective during the fiscal year had or is expected to have a material effect on the Company’s consolidated financial statements.

Revenue Recognition

Revenue Recognition	3 Months Ended
	May 28, 2022
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	Revenue from transactions with external customers for each of the Company’s products would be impracticable to disclose and management does not view its business by product line. The following is a summary of revenue disaggregated by geographic area and core brands: Thirteen Weeks Ended Thirty-Nine Weeks Ended (In thousands) May 28, 2022 May 29, 2021 May 28, 2022 May 29, 2021 North America (1) Atkins $ 148,163 $ 146,082 $ 417,539 $ 382,998 Quest 160,261 127,097 451,128 327,891 Total North America 308,424 273,179 868,667 710,889 International 8,107 10,822 25,847 34,871 Total net sales $ 316,531 $ 284,001 $ 894,514 $ 745,760 (1) The North America geographic area consists of net sales substantially related to the United States and there is no individual foreign country to which more than 10% of the Company’s net sales are attributed or that is otherwise deemed individually material. Charges related to credit loss on accounts receivables from transactions with external customers were $0.2 million and $0.1 million for the thirteen and thirty-nine weeks ended May 28, 2022, respectively, and were $0.6 million and $0.7 million for the thirteen and thirty-nine weeks ended May 29, 2021, respectively. As of May 28, 2022 and August 28, 2021, the allowances for doubtful accounts related to these accounts receivable were $1.3 million and $1.1 million, respectively.

Goodwill and Intangibles

Goodwill and Intangibles	9 Months Ended
	May 28, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangibles	As of May 28, 2022 and August 28, 2021, Goodwill in the Condensed Consolidated Balance Sheets was $543.1 million. There were no impairment charges related to goodwill during the thirteen and thirty-nine weeks ended May 28, 2022 or since the inception of the Company. Intangible assets, net in the Condensed Consolidated Balance Sheets consists of the following: May 28, 2022 (In thousands) Useful life Gross carrying amount Accumulated amortization Net carrying Intangible assets with indefinite life: Brands and trademarks Indefinite life $ 974,000 $ — $ 974,000 Intangible assets with finite lives: Customer relationships 15 years 174,000 38,803 135,197 Licensing agreements 13 years 22,000 8,102 13,898 Proprietary recipes and formulas 7 years 7,000 4,881 2,119 Software and website development costs 3 - 5 years 5,863 3,941 1,922 $ 1,182,863 $ 55,727 $ 1,127,136 August 28, 2021 (In thousands) Useful life Gross carrying amount Accumulated amortization Net carrying Intangible assets with indefinite life: Brands and trademarks Indefinite life $ 974,000 $ — $ 974,000 Intangible assets with finite lives: Customer relationships 15 years 174,000 30,103 143,897 Licensing agreements 13 years 22,000 6,664 15,336 Proprietary recipes and formulas 7 years 7,000 4,131 2,869 Software and website development costs 3 - 5 years 5,560 2,924 2,636 Intangible assets in progress 3 - 5 years 303 — 303 $ 1,182,863 $ 43,822 $ 1,139,041 Changes in Intangible assets, net during the thirty-nine weeks ended May 28, 2022 were primarily related to recurring amortization expense. Amortization expense related to intangible assets was $4.0 million and $3.8 million for the thirteen weeks ended May 28, 2022 and May 29, 2021, respectively, and $11.9 million and $11.6 million for the thirty-nine weeks ended May 28, 2022 and May 29, 2021, respectively. There were no impairment charges related to intangible assets during the thirteen and thirty-nine weeks ended May 28, 2022 and May 29, 2021. Estimated future amortization for each of the next five fiscal years and thereafter is as follows: (In thousands) Amortization Remainder of 2022 $ 3,935 2023 15,602 2024 14,917 2025 13,517 2026 13,517 2027 and thereafter 91,648 Total $ 153,136

Long-Term Debt and Line of Cred

Long-Term Debt and Line of Credit	9 Months Ended
	May 28, 2022
Debt Disclosure [Abstract]
Debt Disclosure	On July 7, 2017, the Company entered into a credit agreement with Barclays Bank PLC and other parties (as amended to date, the “Credit Agreement”). The Credit Agreement at that time provided for (i) a term facility of $200.0 million (“Term Facility”) with a seven five On November 7, 2019, the Company entered into a second amendment (the “Incremental Facility Amendment”) to the Credit Agreement to increase the principal borrowed on the Term Facility by $460.0 million. The Term Facility together with the incremental borrowing make up the Initial Term Loans (as defined in the Incremental Facility Amendment). The Incremental Facility Amendment was executed to partially finance the acquisition of Quest Nutrition, LLC on November 7, 2019. No amounts under the Term Facility were repaid as a result of the execution of the Incremental Facility Amendment. Effective as of December 16, 2021, the Company entered into a third amendment (the “Extension Amendment”) to the Credit Agreement. The Extension Amendment provided for an extension of the stated maturity date of the Revolving Commitments and Revolving Loans (each as defined in the Credit Agreement) from July 7, 2022 to the earlier of (i) 91 days prior to the maturity date of the Initial Term Loans on July 7, 2024 and (ii) December 16, 2026. On January 21, 2022, the Company entered into a repricing amendment (the “2022 Repricing Amendment”) to the Credit Agreement. The 2022 Repricing Amendment, among other things, (i) reduced the interest rate per annum applicable to the Initial Term Loans outstanding under the Credit Agreement immediately prior to the effective date of the 2022 Repricing Amendment, (ii) reset the prepayment premium for the existing Initial Term Loans to apply to Repricing Transactions (as defined in the Credit Agreement) that occur within six months after the effective date of the 2022 Repricing Amendment, and (iii) implemented the Secured Overnight Financing Rate (“SOFR”) and related replacement provisions for the London Interbank Offered Rate (“LIBOR”). Effective as of the 2022 Repricing Amendment dated January 21, 2022, the interest rate per annum is based on either: i. A base rate equaling the higher of (a) the “prime rate,” (b) the federal funds effective rate plus 0.50%, or (c) the Adjusted Term SOFR Rate (as defined in the Credit Agreement) applicable for an interest period of one month plus 1.00% plus (x) 2.25% margin for the Term Loan or (y) 2.00% margin for the Revolving Credit Facility; or ii. SOFR plus a credit spread adjustment equal to 0.10% for one-month SOFR, 0.15% for up to three-month SOFR and 0.25% for up to six-month SOFR, subject to a floor of 0.50%, plus (x) 3.25% margin for the Term Loan or (y) 3.00% margin for the Revolving Credit Facility. The Simply Good Foods Company is not a borrower under the Credit Agreement and has not provided a guarantee of the Credit Agreement. Simply Good Foods USA, Inc., is the administrative borrower and certain other subsidiary holding companies are co-borrowers under the Credit Agreement. Each of the Company’s domestic subsidiaries that is not a named borrower under the Credit Agreement has provided a guarantee on a secured basis. As security for the payment or performance of the debt under the Credit Agreement, the borrowers and the guarantors have pledged certain equity interests in their respective subsidiaries and granted the lenders a security interest in substantially all of their domestic assets. All guarantors other than Quest Nutrition, LLC are holding companies with no assets other than their investments in their respective subsidiaries. The Credit Agreement contains certain financial and other covenants that limit the Company’s ability to, among other things, incur and/or undertake asset sales and other dispositions, liens, indebtedness, certain acquisitions and investments, consolidations, mergers, reorganizations and other fundamental changes, payment of dividends and other distributions to equity and warrant holders, and prepayments of material subordinated debt, in each case, subject to customary exceptions materially consistent with credit facilities of such type and size. The Revolving Credit Facility has a maximum total net leverage ratio equal to or less than 6.00:1.00 contingent on credit extensions in excess of 30% of the total amount of commitments available under the Revolving Credit Facility. Any failure to comply with the restrictions of the credit facilities may result in an event of default. The Company was in compliance with all financial covenants as of May 28, 2022 and August 28, 2021, respectively. Long-term debt consists of the following: (In thousands) May 28, 2022 August 28, 2021 Term Facility (effective rate of 4.7% at May 28, 2022) $ 406,500 $ 456,500 Finance lease liabilities (effective rate of 5.6% at May 28, 2022) 479 690 Less: Deferred financing fees 4,107 5,636 Total debt 402,872 451,554 Less: Current finance lease liabilities 278 285 Long-term debt, net of deferred financing fees $ 402,594 $ 451,269 The Company is not required to make principal payments on the Term Facility over the twelve months following the period ended May 28, 2022. The outstanding balance of the Term Facility is due upon its maturity in July 2024. As of May 28, 2022, the Company had letters of credit in the amount of $3.5 million outstanding. These letters of credit offset against the $75.0 million availability of the Revolving Credit Facility and exist to support three of the Company’s leased buildings and insurance programs relating to workers’ compensation. No amounts were drawn against these letters of credit at May 28, 2022. The Company utilizes market approaches to estimate the fair value of certain outstanding borrowings by discounting anticipated future cash flows derived from the contractual terms of the obligations and observable market interest and foreign exchange rates. The Company carries debt at historical cost and discloses fair value. As of May 28, 2022 and August 28, 2021, the book value of the Company’s debt approximated fair value. The estimated fair value of the Term Loan is valued based on observable inputs and classified as Level 2 in the fair value hierarchy.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	May 28, 2022
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair value is defined 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. To increase the comparability of fair value measurements, a three-tier fair value hierarchy, which prioritizes the inputs used in the valuation methodologies, is used: Level 1 – Valuations based on quoted prices for identical assets and liabilities in active markets. Level 2 – Valuations based on observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. Level 3 – Valuations based on unobservable inputs reflecting the Company’s own assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment. Level 3 Measurements As of August 28, 2021, the Company had outstanding liability-classified Private Warrants that allowed holders to purchase 6,700,000 shares of the Company’s common stock. Such Private Warrants were held by Conyers Park Sponsor, LLC (“Conyers Park”), a related party. On January 7, 2022, Conyers Park elected to exercise the Private Warrants on a cashless basis, resulting in a net issuance of 4,830,761 shares of the Company’s common stock. As a result of Conyers Park’s election to exercise the Private Warrants, there were no outstanding liability-classified Private Warrants as of May 28, 2022. Refer to Note 10, Stockholders’ Equity, for additional details regarding the cashless exercise of the Private Warrants. The Company utilized the Black-Scholes model to estimate the fair value of the Private Warrants at each reporting date. The application of the Black-Scholes model utilizes significant assumptions, including volatility. Significant judgment is required in determining the expected volatility, historically the key assumption, of the Private Warrants. In order to determine the most accurate measure of this volatility, the Company measured expected volatility based on several inputs, including considering a peer group of publicly traded companies, the Company’s implied volatility based on traded options, the implied volatility of comparable warrants, and the implied volatility of any outstanding public warrants during the periods they were outstanding. As a result of the unobservable inputs that were used to determine the expected volatility of the Private Warrants, the fair value measurement of these warrants reflects a Level 3 measurement within the fair value measurement hierarchy. There were no Private Warrants outstanding as of May 28, 2022. As of August 28, 2021, the Company had 6,700,000 Private Warrants outstanding with a fair value price per Private Warrant of $23.86, resulting in a $159.8 million total warrant liability. The table below summarizes the inputs used to calculate the fair value of the warrant liability at August 28,2021: August 28, 2021 Exercise price $ 11.50 Stock price $ 35.35 Dividend yield — % Expected term (in years) 0.86 Risk-free interest rate 0.06 % Expected volatility 21.70 % Per share value of warrants $ 23.86 The periodic remeasurement of the warrant liability has been reflected in Loss in fair value change of warrant liability

Income Taxes

Income Taxes	9 Months Ended
	May 28, 2022
Income Tax Disclosure [Abstract]
Income Taxes	The tax expense and the effective tax rate resulting from operations were as follows: Thirty-Nine Weeks Ended (In thousands) May 28, 2022 May 29, 2021 Income before income taxes $ 113,173 $ 53,729 Income tax expense $ 34,726 $ 31,095 Effective tax rate 30.7 % 57.9 % The effective tax rate for the thirty-nine weeks ended May 28, 2022 was 27.2% less than the effective tax rate for the thirty-nine weeks ended May 29, 2021, which was primarily driven by the non-cash change in the fair value of the warrant liability and other permanent differences.

Leases

Leases	9 Months Ended
	May 28, 2022
Leases [Abstract]
Lessee, Operating Leases	The components of lease expense were as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended (In thousands) Statements of Operations Caption May 28, 2022 May 29, 2021 May 28, 2022 May 29, 2021 Operating lease cost: Lease cost Cost of goods sold and $ 2,278 $ 1,486 $ 6,806 $ 4,480 Variable lease cost (1) Cost of goods sold and 787 470 2,300 1,246 Total operating lease cost 3,065 1,956 9,106 5,726 Finance lease cost: Amortization of right-of-use assets Cost of goods sold 69 69 205 205 Interest on lease liabilities Interest expense 7 10 24 35 Total finance lease cost 76 79 229 240 Total lease cost $ 3,141 $ 2,035 $ 9,335 $ 5,966 (1) Variable lease cost primarily consists of common area maintenance, such as cleaning and repairs. In conjunction with the Company’s restructuring activities as discussed in Note 13, Restructuring and Related Charges, the Company recorded an immaterial gain on lease termination related to its lease in the Netherlands in the thirty-nine weeks ended May 28, 2022 and a $0.5 million impairment charge, net of a gain on lease termination, related to its leases in Toronto, Ontario and the Netherlands in the thirty-nine weeks ended May 29, 2021. The effect of these restructuring activities has been included within General and administrative on the Condensed Consolidated Statements of Operations and Comprehensive Income. Refer to Note 13, Restructuring and Related Charges, for additional information regarding restructuring activities. The right-of-use assets and corresponding liabilities related to both operating and finance leases are as follows: (In thousands) Balance Sheets Caption May 28, 2022 August 28, 2021 Assets Operating lease right-of-use assets Other long-term assets $ 48,134 $ 46,197 Finance lease right-of-use assets Property and equipment, net 435 640 Total lease assets $ 48,569 $ 46,837 Liabilities Current: Operating lease liabilities Accrued expenses and other current liabilities $ 5,721 $ 3,788 Finance lease liabilities Current maturities of long-term debt 278 285 Long-term: Operating lease liabilities Other long-term liabilities 46,219 44,892 Finance lease liabilities Long-term debt, less current maturities 201 405 Total lease liabilities $ 52,419 $ 49,370 Future maturities of lease liabilities as of May 28, 2022 were as follows: (In thousands) Operating Leases Finance Leases Fiscal year ending: Remainder of 2022 $ 1,807 $ 78 2023 8,487 278 2024 9,425 145 2025 8,681 — 2026 6,881 — Thereafter 26,845 — Total lease payments 62,126 501 Less: Interest (10,186) (22) Present value of lease liabilities $ 51,940 $ 479 The weighted-average remaining lease terms and weighted-average discount rates for operating and finance leases were as follows: May 28, 2022 August 28, 2021 Weighted-average remaining lease term (in years) Operating leases 7.46 8.38 Finance leases 1.73 2.44 Weighted-average discount rate Operating leases 4.7 % 4.9 % Finance leases 5.6 % 5.6 % Supplemental and other information related to leases was as follows: Thirty-Nine Weeks Ended (In thousands) May 28, 2022 May 29, 2021 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 7,155 $ 5,619 Operating cash flows from finance leases $ 472 $ 34 Financing cash flows from finance leases $ 235 $ 235
Lessee, Finance Leases	The components of lease expense were as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended (In thousands) Statements of Operations Caption May 28, 2022 May 29, 2021 May 28, 2022 May 29, 2021 Operating lease cost: Lease cost Cost of goods sold and $ 2,278 $ 1,486 $ 6,806 $ 4,480 Variable lease cost (1) Cost of goods sold and 787 470 2,300 1,246 Total operating lease cost 3,065 1,956 9,106 5,726 Finance lease cost: Amortization of right-of-use assets Cost of goods sold 69 69 205 205 Interest on lease liabilities Interest expense 7 10 24 35 Total finance lease cost 76 79 229 240 Total lease cost $ 3,141 $ 2,035 $ 9,335 $ 5,966 (1) Variable lease cost primarily consists of common area maintenance, such as cleaning and repairs. In conjunction with the Company’s restructuring activities as discussed in Note 13, Restructuring and Related Charges, the Company recorded an immaterial gain on lease termination related to its lease in the Netherlands in the thirty-nine weeks ended May 28, 2022 and a $0.5 million impairment charge, net of a gain on lease termination, related to its leases in Toronto, Ontario and the Netherlands in the thirty-nine weeks ended May 29, 2021. The effect of these restructuring activities has been included within General and administrative on the Condensed Consolidated Statements of Operations and Comprehensive Income. Refer to Note 13, Restructuring and Related Charges, for additional information regarding restructuring activities. The right-of-use assets and corresponding liabilities related to both operating and finance leases are as follows: (In thousands) Balance Sheets Caption May 28, 2022 August 28, 2021 Assets Operating lease right-of-use assets Other long-term assets $ 48,134 $ 46,197 Finance lease right-of-use assets Property and equipment, net 435 640 Total lease assets $ 48,569 $ 46,837 Liabilities Current: Operating lease liabilities Accrued expenses and other current liabilities $ 5,721 $ 3,788 Finance lease liabilities Current maturities of long-term debt 278 285 Long-term: Operating lease liabilities Other long-term liabilities 46,219 44,892 Finance lease liabilities Long-term debt, less current maturities 201 405 Total lease liabilities $ 52,419 $ 49,370 Future maturities of lease liabilities as of May 28, 2022 were as follows: (In thousands) Operating Leases Finance Leases Fiscal year ending: Remainder of 2022 $ 1,807 $ 78 2023 8,487 278 2024 9,425 145 2025 8,681 — 2026 6,881 — Thereafter 26,845 — Total lease payments 62,126 501 Less: Interest (10,186) (22) Present value of lease liabilities $ 51,940 $ 479 The weighted-average remaining lease terms and weighted-average discount rates for operating and finance leases were as follows: May 28, 2022 August 28, 2021 Weighted-average remaining lease term (in years) Operating leases 7.46 8.38 Finance leases 1.73 2.44 Weighted-average discount rate Operating leases 4.7 % 4.9 % Finance leases 5.6 % 5.6 % Supplemental and other information related to leases was as follows: Thirty-Nine Weeks Ended (In thousands) May 28, 2022 May 29, 2021 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 7,155 $ 5,619 Operating cash flows from finance leases $ 472 $ 34 Financing cash flows from finance leases $ 235 $ 235

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	May 28, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Litigation The Company is a party to certain litigation and claims that are considered normal to the operations of the business. From time to time, the Company has been and may again become involved in legal proceedings arising in the ordinary course of business. The Company is not presently a party to any litigation that it believes to be material, and the Company is not aware of any pending or threatened litigation against it that its management believes could have a material adverse effect on its business, operating results, financial condition or cash flows. Other The Company has entered into endorsement contracts with certain celebrity figures and social media influencers to promote and endorse the Atkins and Quest brands and product lines. These contracts contain endorsement fees, which are expensed ratably over the life of the contract, and performance fees, that are recognized at the time of achievement. Based on the terms of the contracts in place and achievement of performance conditions as of May 28, 2022, the Company will be required to make payments of $0.7 million over the next year.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	May 28, 2022
Equity [Abstract]
Stockholders' Equity	Warrants to Purchase Common Stock As of August 28, 2021, the Company had outstanding liability-classified Private Warrants that allowed holders to purchase 6,700,000 shares of the Company’s common stock. Such Private Warrants were held by Conyers Park, a related party. Each whole warrant entitled the holder to purchase one share of the Company’s common stock at a price of $11.50 per share. On January 7, 2022, Conyers Park elected to exercise the Private Warrants on a cashless basis, resulting in a net issuance of 4,830,761 shares of the Company’s common stock. As a result of the cashless exercise on January 7, 2022, there were no outstanding liability-classified Private Warrants as of May 28, 2022. As discussed in Note 6, Fair Value of Financial Instruments, the liability-classified warrants were remeasured on a recurring basis, primarily based on observable market data while the related theoretical private warrant volatility assumption within the Black-Scholes model represents a Level 3 measurement within the fair value measurement hierarchy. The periodic fair value remeasurements of the warrant liability, including the cashless exercise and the settlement of the warrant liability, have been reflected in Loss in fair value change of warrant liability within the Condensed Consolidated Statements of Operations and Comprehensive Income. Stock Repurchase Program The Company adopted a $50.0 million stock repurchase program on November 13, 2018. On April 13, 2022, the Company announced that its Board of Directors had approved the addition of $50.0 million to its stock repurchase program, resulting in authorized stock repurchases of up to an aggregate of $100.0 million. Under the stock repurchase program, the Company may repurchase shares from time to time in the open market or in privately negotiated transactions. The stock repurchase program does not obligate the Company to acquire any specific number of shares or acquire shares over any specific period of time. The stock repurchase program may be suspended or discontinued at any time by the Company and does not have an expiration date. During the thirteen weeks ended May 28, 2022, the Company repurchased 218,221 shares of common stock at an average share price of $37.16 per share. During the thirty-nine weeks ended May 28, 2022, the Company repurchased 789,742 shares of common stock at an average share price of $36.09 per share. The Company did not repurchase any shares of common stock during the thirty-nine weeks ended May 29, 2021. As of May 28, 2022, approximately $69.3 million remained available under the stock repurchase program. During the thirty-nine weeks ended May 28, 2022, the Company recognized a foreign currency translation gain of $1.1 million related to the liquidation of a foreign subsidiary. The gain is reflected as a component of Other income (expense) in Gain (loss) on foreign currency transactions

Earnings Per Share

Earnings Per Share	9 Months Ended
	May 28, 2022
Earnings Per Share [Abstract]
Earnings Per Share	Basic earnings or loss per share is based on the weighted average number of common shares issued and outstanding. In computing diluted earnings per share, basic earnings per share is adjusted for the assumed issuance of all potentially dilutive securities, including the Company’s employee stock options, non-vested stock units, and Private Warrants for the periods during which they were outstanding. During periods when the effect of the outstanding Private Warrants was dilutive, the Company assumed share settlement of the instruments as of the beginning of the reporting period and adjusted the numerator to remove the change in fair value of the warrant liability and adjusted the denominator to include the dilutive shares, calculated using the treasury stock method. During periods when the effect of the outstanding Private Warrants was anti-dilutive, the share settlement is excluded. In periods in which the Company has a net loss, diluted loss per share is based on the weighted average number of common shares issued and outstanding as the effect of including common stock equivalents outstanding would be anti-dilutive. The following tables reconcile the numerators and denominators used in the computations of both basic and diluted earnings per share: Thirteen Weeks Ended Thirty-Nine Weeks Ended (In thousands, except per share data) May 28, 2022 May 29, 2021 May 28, 2022 May 29, 2021 Basic earnings per share computation: Numerator: Net income available to common stockholders $ 38,834 $ 5,895 $ 78,447 $ 22,634 Denominator: Weighted average common shares outstanding - basic 100,426,227 95,767,629 98,294,114 95,730,581 Basic earnings per share from net income $ 0.39 $ 0.06 $ 0.80 $ 0.24 Diluted earnings per share computation: Numerator: Net income available for common stockholders $ 38,834 $ 5,895 $ 78,447 $ 22,634 Numerator for diluted earnings per share $ 38,834 $ 5,895 $ 78,447 $ 22,634 Denominator: Weighted average common shares outstanding - basic 100,426,227 95,767,629 98,294,114 95,730,581 Employee stock options 1,604,847 1,465,477 1,633,278 1,191,593 Non-vested stock units 206,383 356,550 262,676 275,006 Weighted average common shares - diluted 102,237,457 97,589,656 100,190,068 97,197,180 Diluted earnings per share from net income $ 0.38 $ 0.06 $ 0.78 $ 0.23 Diluted earnings per share calculations for the thirty-nine weeks ended May 28, 2022 excluded 1.0 million shares, issuable upon exercise of Private Warrants, that would have been anti-dilutive. The diluted earnings per share calculations for the thirteen and thirty-nine weeks ended May 29, 2021 excluded 4.3 million shares and 3.9 million shares, issuable upon exercise of Private Warrants, respectively, that would have been anti-dilutive. Diluted earnings per share calculations for the thirteen and thirty-nine weeks ended May 28, 2022 excluded 0.3 million shares of common stock issuable upon exercise of stock options, respectively, that would have been anti-dilutive. Diluted earnings per share calculations for the thirteen and thirty-nine weeks ended May 29, 2021 excluded an immaterial number of shares and 0.2 million shares of common stock issuable upon exercise of stock options, respectively, that would have been anti-dilutive.

Omnibus Incentive Plan

Omnibus Incentive Plan	9 Months Ended
	May 28, 2022
Share-Based Payment Arrangement [Abstract]
Stock Option Plan	Stock-based compensation includes stock options, restricted stock units, performance stock unit awards and stock appreciation rights, which are awarded to employees, directors, and consultants of the Company. Stock-based compensation expense is recognized on a straight-line basis over the requisite service period of the award based on their grant date fair value. Stock-based compensation expense is included within General and administrative expense, which is the same financial statement caption where the recipient’s other compensation is reported. The Company recorded stock-based compensation expense of $3.0 million and $2.2 million in the thirteen weeks ended May 28, 2022 and May 29, 2021, respectively, and $8.7 million and $5.8 million in the thirty-nine weeks ended May 28, 2022 and May 29, 2021, respectively. Stock Options The following table summarizes stock option activity for the thirty-nine weeks ended May 28, 2022: Shares underlying options Weighted average Weighted average remaining contractual life (years) Outstanding as of August 28, 2021 2,993,163 $ 16.31 Granted 138,479 40.88 Exercised (352,791) 12.31 Forfeited (2,300) 19.89 Outstanding as of May 28, 2022 2,776,551 $ 18.04 6.35 Vested and expected to vest as of May 28, 2022 2,776,551 $ 18.04 6.35 Exercisable as of May 28, 2022 2,164,158 $ 14.44 5.66 As of May 28, 2022, the Company had $5.0 million of total unrecognized compensation cost related to stock options that will be recognized over a weighted average period of 1.8 years. During the thirty-nine weeks ended May 28, 2022 and May 29, 2021, the Company received $4.3 million and $0.7 million in cash from stock option exercises, respectively. Restricted Stock Units The following table summarizes restricted stock unit activity for the thirty-nine weeks ended May 28, 2022: Units Weighted average Non-vested as of August 28, 2021 496,334 $ 24.56 Granted 171,795 39.97 Vested (169,145) 23.16 Forfeited (22,818) 26.51 Non-vested as of May 28, 2022 476,166 $ 30.55 As of May 28, 2022, the Company had $10.3 million of total unrecognized compensation cost related to restricted stock units that will be recognized over a weighted average period of 1.7 years. Performance Stock Units During the thirty-nine weeks ended May 28, 2022, the Board of Directors granted performance stock units under the Company’s equity compensation plan. Performance stock units vest in a range between 0% and 200% based upon certain performance criteria in a three The following table summarizes performance stock unit activity for the thirty-nine weeks ended May 28, 2022: Units Weighted average Non-vested as of August 28, 2021 380,097 $ 19.31 Granted 50,212 63.42 Vested (166,688) 11.93 Forfeited (8,083) 18.82 Non-vested as of May 28, 2022 255,538 $ 32.80 As of May 28, 2022, the Company had $4.3 million of total unrecognized compensation cost related to performance stock units that will be recognized over a weighted average period of 1.3 years. Stock Appreciation Rights Stock appreciation rights (“SARs”) permit the holder to participate in the appreciation of the Company’s common stock price and are awarded to non-employee, consultants of the Company. The Company’s SARs settle in shares of its common stock once the applicable vesting criteria has been met. SARs cliff vest three years from the date of grant and must be exercised within ten years. The following table summarizes SARs activity for the thirty-nine weeks ended May 28, 2022: Shares underlying SARs Weighted average Weighted average remaining contractual life (years) Outstanding as of August 28, 2021 150,000 $ 24.20 Granted — — Exercised — — Forfeited — — Outstanding as of May 28, 2022 150,000 $ 24.20 7.43 Vested and expected to vest as of May 28, 2022 150,000 $ 24.20 7.43 Exercisable as of May 28, 2022 — $ — 0.00 As of May 28, 2022, the Company had $0.1 million of total unrecognized compensation cost related to its SARs that will be recognized over a weighted average period of 0.4 years.

Restructuring and Related Charg

Restructuring and Related Charges	9 Months Ended
	May 28, 2022
Restructuring and Related Activities [Abstract]
Restructuring and Related Activities Disclosure [Text Block]	In May 2020, the Company announced certain restructuring activities in conjunction with the implementation of the Company’s future-state organization design, which created a fully integrated organization with its completed acquisition of Quest Nutrition, LLC on November 7, 2019. The new organization design became effective on August 31, 2020. These restructuring plans primarily included workforce reductions, changes in management structure, and the relocation of business activities from one location to another. The Company substantially completed its restructuring activities during the third quarter of fiscal 2022. Since the announcement of the restructuring activities in May 2020, the Company incurred aggregate restructuring and restructuring-related costs of $9.9 million. The one-time termination benefits and employee severance costs incurred in relation to these restructuring activities were accounted for in accordance with ASC Topic 420, Exit or Disposal Cost Obligations, and ASC Topic 712, Compensation - Nonretirement Postemployment Benefits, respectively. The Company recognized a liability and the related expense for these restructuring costs when the liability was incurred and could be measured. Restructuring accruals were based upon management estimates at the time and could change depending upon changes in facts and circumstances subsequent to the date the original liability was recorded. The effect of these restructuring activities was included within General and administrative on the Condensed Consolidated Statements of Operations and Comprehensive Income Changes to the restructuring liability during the thirty-nine weeks ended May 28, 2022 were as follows: (In thousands) Termination benefits and severance Other Restructuring liability Balance as of August 28, 2021 $ 851 $ — $ 851 Charges 52 76 128 Cash payments (903) (76) (979) Balance as of May 28, 2022 $ — $ — $ — The Company’s total restructuring and restructuring-related costs incurred in the thirty-nine weeks ended May 28, 2022 were $0.1 million, which included an immaterial gain on lease termination related to its lease in the Netherlands in addition to the restructuring costs shown above. Because the Company substantially completed its restructuring activities during the third quarter of fiscal 2022, no such restructuring or restructuring-related costs were incurred in the thirteen weeks ended May 28, 2022. In the thirteen and thirty-nine weeks ended May 29, 2021, the Company incurred a total of $0.2 million and $4.0 million in restructuring and restructuring-related costs, respectively.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	May 28, 2022
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Refer to Note 2, Summary of Significant Accounting Policies , to the consolidated financial statements included in the Annual Report for a description of significant accounting policies. Recently Issued and Adopted Accounting Pronouncements Recently Issued Accounting Pronouncements Not Yet Adopted In March 2020, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2020-04, Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional guidance for a limited period of time to ease the potential burden in accounting for reference rate reform on financial reporting. The amendments in this ASU are effective for all entities and can be applied to contract modifications due to rate reform and eligible existing and new hedging relationships entered into between March 12, 2020 and December 31, 2022. The amendments of this ASU should be applied on a prospective basis. On January 21, 2022, the Company entered into a repricing amendment (the “2022 Repricing Amendment”) to its credit agreement with Barclays Bank PLC and other parties (as amended to date, the “Credit Agreement”), as described in Note 5, Long-Term Debt and Line of Credit. In addition to replacing the London Interbank Offered Rate (“LIBOR”) as the Credit Agreement’s reference rate with the Secured Overnight Financing Rate (“SOFR”), the 2022 Repricing Amendment contemporaneously modified other terms that changed, or had the potential to change, the amount or timing of contractual cash flows as contemplated by the guidance in ASU 2020-04. As such, the contract modifications related to the 2022 Repricing Amendment were outside of the scope of the optional guidance in ASU 2020-04. The Company will continue to monitor the effects of rate reform, if any, on any new or amended contracts through December 31, 2022. The Company does not anticipate the amendments in this ASU will be material to its consolidated financial statements. Recently Adopted Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which amends existing guidance related to the accounting for income taxes. This ASU was intended to simplify the accounting for income taxes by removing certain exceptions to the general principles of accounting for income taxes and to improve the consistent application of GAAP for other areas of accounting for income taxes by clarifying and amending existing guidance. The Company adopted this ASU as of the first day of fiscal year 2022. The adoption of this ASU did not have a material effect on the consolidated financial statements. In October 2020, the FASB issued ASU 2020-10, Codification Improvements, which provided updates for technical corrections, clarifications to guidance, simplifications to wording or structure of guidance, and other minor improvements across various areas of accounting within GAAP. The Company adopted this ASU as of the first day of fiscal year 2022 on a prospective basis. The adoption of this ASU did not have a material effect on the consolidated financial statements. No other new accounting pronouncement issued or effective during the fiscal year had or is expected to have a material effect on the Company’s consolidated financial statements.
Basis of Accounting, Policy [Policy Text Block]	Unaudited Interim Condensed Consolidated Financial Statements The unaudited interim condensed consolidated financial statements include the accounts of Simply Good Foods and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated. Unless the context otherwise requires, “we,” “us,” “our” and the “Company” refer to Simply Good Foods and its subsidiaries. The Company maintains its accounting records on a 52/53-week fiscal year, ending on the last Saturday in August of each year. The interim condensed consolidated financial statements and related notes of the Company and its subsidiaries are unaudited. The unaudited interim condensed consolidated financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) and the rules and regulations of the Securities and Exchange Commission (the “SEC”). The unaudited interim condensed consolidated financial statements reflect all adjustments and disclosures which are, in the Company’s opinion, necessary for a fair presentation of the results of operations, financial position and cash flows for the indicated periods. All such adjustments were of a normal and recurring nature unless otherwise disclosed. The year-end balance sheet data was derived from the audited financial statements and, in accordance with the instructions to Form 10-Q, certain information and footnote disclosures required by GAAP have been condensed or omitted. The results reported in these unaudited interim condensed consolidated financial statements are not necessarily indicative of the results that may be reported for the entire fiscal year and should be read in conjunction with the Company’s consolidated financial statements for the fiscal year ended August 28, 2021, included in the Company’s Annual Report on Form 10-K (“Annual Report”) filed with the SEC on October 26, 2021. While the Company’s business has continued to improve from the end of fiscal year 2021, driven in part by the increasing normalization of consumer mobility and shopper traffic patterns in brick-and-mortar retailers versus prior periods that were pressured by COVID-19 movement restrictions, the ultimate effect COVID-19, supply chain challenges, cost pressures, and the overall effects of the current high inflation environment on consumer purchasing patterns could have on our business continues to be not fully known. Additionally, management is continuing to monitor the conflict in Ukraine, especially regarding the availability and cost of raw materials that are produced in this region. Management is also monitoring for signs of any expansion of economic or supply chain disruptions or broader supply chain inflationary costs resulting either directly or indirectly from the crisis. Factors contributing to the uncertainty described above, among other things, include (i) continued supply chain disruptions, including disruptions resulting from labor shortages and other cost pressures, (ii) changes to customer operations, (iii) a reversal in improving consumer purchasing and consumption behavior, and (iv) unforeseen business disruptions or other effects due to current global geopolitical tensions, including relating directly or indirectly to the Ukraine crisis.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	May 28, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Revenue from transactions with external customers for each of the Company’s products would be impracticable to disclose and management does not view its business by product line. The following is a summary of revenue disaggregated by geographic area and core brands: Thirteen Weeks Ended Thirty-Nine Weeks Ended (In thousands) May 28, 2022 May 29, 2021 May 28, 2022 May 29, 2021 North America (1) Atkins $ 148,163 $ 146,082 $ 417,539 $ 382,998 Quest 160,261 127,097 451,128 327,891 Total North America 308,424 273,179 868,667 710,889 International 8,107 10,822 25,847 34,871 Total net sales $ 316,531 $ 284,001 $ 894,514 $ 745,760 (1) The North America geographic area consists of net sales substantially related to the United States and there is no individual foreign country to which more than 10% of the Company’s net sales are attributed or that is otherwise deemed individually material.

Goodwill and Intangibles (Table

Goodwill and Intangibles (Tables)	9 Months Ended
	May 28, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	Intangible assets, net in the Condensed Consolidated Balance Sheets consists of the following: May 28, 2022 (In thousands) Useful life Gross carrying amount Accumulated amortization Net carrying Intangible assets with indefinite life: Brands and trademarks Indefinite life $ 974,000 $ — $ 974,000 Intangible assets with finite lives: Customer relationships 15 years 174,000 38,803 135,197 Licensing agreements 13 years 22,000 8,102 13,898 Proprietary recipes and formulas 7 years 7,000 4,881 2,119 Software and website development costs 3 - 5 years 5,863 3,941 1,922 $ 1,182,863 $ 55,727 $ 1,127,136 August 28, 2021 (In thousands) Useful life Gross carrying amount Accumulated amortization Net carrying Intangible assets with indefinite life: Brands and trademarks Indefinite life $ 974,000 $ — $ 974,000 Intangible assets with finite lives: Customer relationships 15 years 174,000 30,103 143,897 Licensing agreements 13 years 22,000 6,664 15,336 Proprietary recipes and formulas 7 years 7,000 4,131 2,869 Software and website development costs 3 - 5 years 5,560 2,924 2,636 Intangible assets in progress 3 - 5 years 303 — 303 $ 1,182,863 $ 43,822 $ 1,139,041
Schedule of Indefinite-Lived Intangible Assets	Intangible assets, net in the Condensed Consolidated Balance Sheets consists of the following: May 28, 2022 (In thousands) Useful life Gross carrying amount Accumulated amortization Net carrying Intangible assets with indefinite life: Brands and trademarks Indefinite life $ 974,000 $ — $ 974,000 Intangible assets with finite lives: Customer relationships 15 years 174,000 38,803 135,197 Licensing agreements 13 years 22,000 8,102 13,898 Proprietary recipes and formulas 7 years 7,000 4,881 2,119 Software and website development costs 3 - 5 years 5,863 3,941 1,922 $ 1,182,863 $ 55,727 $ 1,127,136 August 28, 2021 (In thousands) Useful life Gross carrying amount Accumulated amortization Net carrying Intangible assets with indefinite life: Brands and trademarks Indefinite life $ 974,000 $ — $ 974,000 Intangible assets with finite lives: Customer relationships 15 years 174,000 30,103 143,897 Licensing agreements 13 years 22,000 6,664 15,336 Proprietary recipes and formulas 7 years 7,000 4,131 2,869 Software and website development costs 3 - 5 years 5,560 2,924 2,636 Intangible assets in progress 3 - 5 years 303 — 303 $ 1,182,863 $ 43,822 $ 1,139,041
Estimated Future Amortization	Estimated future amortization for each of the next five fiscal years and thereafter is as follows: (In thousands) Amortization Remainder of 2022 $ 3,935 2023 15,602 2024 14,917 2025 13,517 2026 13,517 2027 and thereafter 91,648 Total $ 153,136

Long-Term Debt and Line of Cr_2

Long-Term Debt and Line of Credit (Tables)	9 Months Ended
	May 28, 2022
Debt Disclosure [Abstract]
Schedule of Debt	Long-term debt consists of the following: (In thousands) May 28, 2022 August 28, 2021 Term Facility (effective rate of 4.7% at May 28, 2022) $ 406,500 $ 456,500 Finance lease liabilities (effective rate of 5.6% at May 28, 2022) 479 690 Less: Deferred financing fees 4,107 5,636 Total debt 402,872 451,554 Less: Current finance lease liabilities 278 285 Long-term debt, net of deferred financing fees $ 402,594 $ 451,269

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	May 28, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurement Inputs and Valuation Techniques	August 28, 2021 Exercise price $ 11.50 Stock price $ 35.35 Dividend yield — % Expected term (in years) 0.86 Risk-free interest rate 0.06 % Expected volatility 21.70 % Per share value of warrants $ 23.86

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	May 28, 2022
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	The tax expense and the effective tax rate resulting from operations were as follows: Thirty-Nine Weeks Ended (In thousands) May 28, 2022 May 29, 2021 Income before income taxes $ 113,173 $ 53,729 Income tax expense $ 34,726 $ 31,095 Effective tax rate 30.7 % 57.9 %

Leases (Tables)

Leases (Tables)	9 Months Ended
	May 28, 2022
Leases [Abstract]
Lease, Cost	The components of lease expense were as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended (In thousands) Statements of Operations Caption May 28, 2022 May 29, 2021 May 28, 2022 May 29, 2021 Operating lease cost: Lease cost Cost of goods sold and $ 2,278 $ 1,486 $ 6,806 $ 4,480 Variable lease cost (1) Cost of goods sold and 787 470 2,300 1,246 Total operating lease cost 3,065 1,956 9,106 5,726 Finance lease cost: Amortization of right-of-use assets Cost of goods sold 69 69 205 205 Interest on lease liabilities Interest expense 7 10 24 35 Total finance lease cost 76 79 229 240 Total lease cost $ 3,141 $ 2,035 $ 9,335 $ 5,966 (1) Variable lease cost primarily consists of common area maintenance, such as cleaning and repairs.
Lease assets and liabilities	The right-of-use assets and corresponding liabilities related to both operating and finance leases are as follows: (In thousands) Balance Sheets Caption May 28, 2022 August 28, 2021 Assets Operating lease right-of-use assets Other long-term assets $ 48,134 $ 46,197 Finance lease right-of-use assets Property and equipment, net 435 640 Total lease assets $ 48,569 $ 46,837 Liabilities Current: Operating lease liabilities Accrued expenses and other current liabilities $ 5,721 $ 3,788 Finance lease liabilities Current maturities of long-term debt 278 285 Long-term: Operating lease liabilities Other long-term liabilities 46,219 44,892 Finance lease liabilities Long-term debt, less current maturities 201 405 Total lease liabilities $ 52,419 $ 49,370
Finance Lease, Liability, Maturity	Future maturities of lease liabilities as of May 28, 2022 were as follows: (In thousands) Operating Leases Finance Leases Fiscal year ending: Remainder of 2022 $ 1,807 $ 78 2023 8,487 278 2024 9,425 145 2025 8,681 — 2026 6,881 — Thereafter 26,845 — Total lease payments 62,126 501 Less: Interest (10,186) (22) Present value of lease liabilities $ 51,940 $ 479
Lessee, Operating Lease, Liability, Maturity	Future maturities of lease liabilities as of May 28, 2022 were as follows: (In thousands) Operating Leases Finance Leases Fiscal year ending: Remainder of 2022 $ 1,807 $ 78 2023 8,487 278 2024 9,425 145 2025 8,681 — 2026 6,881 — Thereafter 26,845 — Total lease payments 62,126 501 Less: Interest (10,186) (22) Present value of lease liabilities $ 51,940 $ 479
Schedule of Weighted Average Remaining Lease Terms	The weighted-average remaining lease terms and weighted-average discount rates for operating and finance leases were as follows: May 28, 2022 August 28, 2021 Weighted-average remaining lease term (in years) Operating leases 7.46 8.38 Finance leases 1.73 2.44 Weighted-average discount rate Operating leases 4.7 % 4.9 % Finance leases 5.6 % 5.6 %
Schedule of Supplemental Cash Flow Information Related to Leases	Supplemental and other information related to leases was as follows: Thirty-Nine Weeks Ended (In thousands) May 28, 2022 May 29, 2021 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 7,155 $ 5,619 Operating cash flows from finance leases $ 472 $ 34 Financing cash flows from finance leases $ 235 $ 235

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	May 28, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following tables reconcile the numerators and denominators used in the computations of both basic and diluted earnings per share: Thirteen Weeks Ended Thirty-Nine Weeks Ended (In thousands, except per share data) May 28, 2022 May 29, 2021 May 28, 2022 May 29, 2021 Basic earnings per share computation: Numerator: Net income available to common stockholders $ 38,834 $ 5,895 $ 78,447 $ 22,634 Denominator: Weighted average common shares outstanding - basic 100,426,227 95,767,629 98,294,114 95,730,581 Basic earnings per share from net income $ 0.39 $ 0.06 $ 0.80 $ 0.24 Diluted earnings per share computation: Numerator: Net income available for common stockholders $ 38,834 $ 5,895 $ 78,447 $ 22,634 Numerator for diluted earnings per share $ 38,834 $ 5,895 $ 78,447 $ 22,634 Denominator: Weighted average common shares outstanding - basic 100,426,227 95,767,629 98,294,114 95,730,581 Employee stock options 1,604,847 1,465,477 1,633,278 1,191,593 Non-vested stock units 206,383 356,550 262,676 275,006 Weighted average common shares - diluted 102,237,457 97,589,656 100,190,068 97,197,180 Diluted earnings per share from net income $ 0.38 $ 0.06 $ 0.78 $ 0.23

Omnibus Incentive Plan (Tables)

Omnibus Incentive Plan (Tables)	9 Months Ended
	May 28, 2022
Share-Based Payment Arrangement [Abstract]
Stock option activity	The following table summarizes stock option activity for the thirty-nine weeks ended May 28, 2022: Shares underlying options Weighted average Weighted average remaining contractual life (years) Outstanding as of August 28, 2021 2,993,163 $ 16.31 Granted 138,479 40.88 Exercised (352,791) 12.31 Forfeited (2,300) 19.89 Outstanding as of May 28, 2022 2,776,551 $ 18.04 6.35 Vested and expected to vest as of May 28, 2022 2,776,551 $ 18.04 6.35 Exercisable as of May 28, 2022 2,164,158 $ 14.44 5.66
Restricted stock unit activity	The following table summarizes restricted stock unit activity for the thirty-nine weeks ended May 28, 2022: Units Weighted average Non-vested as of August 28, 2021 496,334 $ 24.56 Granted 171,795 39.97 Vested (169,145) 23.16 Forfeited (22,818) 26.51 Non-vested as of May 28, 2022 476,166 $ 30.55
Performance stock unit activity	The following table summarizes performance stock unit activity for the thirty-nine weeks ended May 28, 2022: Units Weighted average Non-vested as of August 28, 2021 380,097 $ 19.31 Granted 50,212 63.42 Vested (166,688) 11.93 Forfeited (8,083) 18.82 Non-vested as of May 28, 2022 255,538 $ 32.80
Stock appreciation right activity	The following table summarizes SARs activity for the thirty-nine weeks ended May 28, 2022: Shares underlying SARs Weighted average Weighted average remaining contractual life (years) Outstanding as of August 28, 2021 150,000 $ 24.20 Granted — — Exercised — — Forfeited — — Outstanding as of May 28, 2022 150,000 $ 24.20 7.43 Vested and expected to vest as of May 28, 2022 150,000 $ 24.20 7.43 Exercisable as of May 28, 2022 — $ — 0.00

Restructuring and Related Cha_2

Restructuring and Related Charges (Tables)	9 Months Ended
	May 28, 2022
Restructuring and Related Activities [Abstract]
Changes to Restructuring Liability	Changes to the restructuring liability during the thirty-nine weeks ended May 28, 2022 were as follows: (In thousands) Termination benefits and severance Other Restructuring liability Balance as of August 28, 2021 $ 851 $ — $ 851 Charges 52 76 128 Cash payments (903) (76) (979) Balance as of May 28, 2022 $ — $ — $ —

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 28, 2022	May 29, 2021	May 28, 2022	May 29, 2021
Disaggregation of revenue
Net sales	$ 316,531	$ 284,001	$ 894,514	$ 745,760
North America
Disaggregation of revenue
Net sales	308,424	273,179	868,667	710,889
International
Disaggregation of revenue
Net sales	8,107	10,822	25,847	34,871
Atkins | North America
Disaggregation of revenue
Net sales	148,163	146,082	417,539	382,998
Quest | North America
Disaggregation of revenue
Net sales	$ 160,261	$ 127,097	$ 451,128	$ 327,891

Revenue Recognition (Details 2)

Revenue Recognition (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 28, 2022	May 29, 2021	May 28, 2022	May 29, 2021	Aug. 28, 2021
Revenue from Contract with Customer [Abstract]
Allowance for doubtful accounts	$ 1,300		$ 1,300		$ 1,100
Credit loss expense (reversal), accounts receivable	$ 200	$ 600	$ 100	$ 700

Goodwill Rollforward (Details)

Goodwill Rollforward (Details) - USD ($) $ in Thousands	May 28, 2022	Aug. 28, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 543,134	$ 543,134

Goodwill Narrative (Details)

Goodwill Narrative (Details) $ in Thousands	May 28, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill impairment charges	$ 0

Schedule of Intangible Assets (

Schedule of Intangible Assets (Details) - USD ($) $ in Thousands		9 Months Ended
	Aug. 28, 2021	May 28, 2022
Intangible assets with finite lives:
Intangible assets, gross carrying amount	$ 1,182,863	$ 1,182,863
Finite-lived intangible assets, accumulated amortization	43,822	55,727
Intangible assets, net carrying amount	$ 1,139,041	1,127,136
Finite-lived intangible assets, net carrying amount		$ 153,136
Customer relationships
Intangible assets with finite lives:
Useful life	15 years	15 years
Finite-lived intangible assets, gross carrying amount	$ 174,000	$ 174,000
Finite-lived intangible assets, accumulated amortization	30,103	38,803
Finite-lived intangible assets, net carrying amount	$ 143,897	$ 135,197
Licensing agreements
Intangible assets with finite lives:
Useful life	13 years	13 years
Finite-lived intangible assets, gross carrying amount	$ 22,000	$ 22,000
Finite-lived intangible assets, accumulated amortization	6,664	8,102
Finite-lived intangible assets, net carrying amount	$ 15,336	$ 13,898
Proprietary recipes and formulas
Intangible assets with finite lives:
Useful life	7 years	7 years
Finite-lived intangible assets, gross carrying amount	$ 7,000	$ 7,000
Finite-lived intangible assets, accumulated amortization	4,131	4,881
Finite-lived intangible assets, net carrying amount	2,869	2,119
Software and website development costs
Intangible assets with finite lives:
Finite-lived intangible assets, gross carrying amount	5,560	5,863
Finite-lived intangible assets, accumulated amortization	2,924	3,941
Finite-lived intangible assets, net carrying amount	$ 2,636	$ 1,922
Minimum | Software and website development costs
Intangible assets with finite lives:
Useful life	3 years	3 years
Minimum | Intangible assets in progress
Intangible assets with finite lives:
Useful life	3 years
Maximum | Software and website development costs
Intangible assets with finite lives:
Useful life	5 years	5 years
Maximum | Intangible assets in progress
Intangible assets with finite lives:
Useful life	5 years
Finite-lived intangible assets, gross carrying amount	$ 303
Finite-lived intangible assets, accumulated amortization	0
Finite-lived intangible assets, net carrying amount	303
Brands and trademarks
Intangible assets with indefinite lives:
Indefinite-lived intangible assets	$ 974,000	$ 974,000

Intangibles Narrative (Details)

Intangibles Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	May 28, 2022	May 29, 2021	May 28, 2022	May 29, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible asset amortization expense	$ 4	$ 3.8	$ 11.9	$ 11.6
Impairment of intangible assets, excluding goodwill			$ 0	$ 0

Estimated Future Amortization (

Estimated Future Amortization (Details) $ in Thousands	May 28, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2022	$ 3,935
2022	15,602
2023	14,917
2024	13,517
2025	13,517
2027 and thereafter	91,648
Finite-lived intangible assets, net carrying amount	$ 153,136

Long-Term Debt and Line of Cr_3

Long-Term Debt and Line of Credit - Narrative (Details) $ in Millions	Jan. 21, 2022	Nov. 07, 2019 USD ($)	Jul. 07, 2017 USD ($)	May 28, 2022 USD ($)
Debt Instrument [Line Items]
Letters of Credit Outstanding, Amount				$ 3.5
Term Loan
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Effective Percentage				4.70%
Proceeds from long-term line of credit		$ 460
Repayments of principal in next twelve months				$ 0
Finance leases
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Effective Percentage				5.60%
Barclays Bank PLC and Other Parties | Term Loan
Debt Instrument [Line Items]
Borrowing capacity			$ 200
Maturity period			7 years
Barclays Bank PLC and Other Parties | Revolving Credit Facility
Debt Instrument [Line Items]
Borrowing capacity			$ 75
Maturity period			5 years
Net leverage ratio post reduction (equal to or less than)			6
Percent of commitments (in excess of)			30%
Line of Credit | Barclays Bank PLC and Other Parties | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
Line of Credit | Barclays Bank PLC and Other Parties | SOFR Loan
Debt Instrument [Line Items]
Basis spread on variable rate	1%
Line of Credit | Barclays Bank PLC and Other Parties | Term Loan | SOFR Loan
Debt Instrument [Line Items]
Basis spread on variable rate	2.25%
Line of Credit | Barclays Bank PLC and Other Parties | Term Loan | Secured Overnight Financing Rate SOFR
Debt Instrument [Line Items]
Basis spread on variable rate	3.25%
Interest rate floor	0.50%
Line of Credit | Barclays Bank PLC and Other Parties | Term Loan | One Month Secured Overnight Financing Rate SOFR
Debt Instrument [Line Items]
Interest rate floor	10%
Line of Credit | Barclays Bank PLC and Other Parties | Term Loan | Three Month Secured Overnight Financing Rate SOFR
Debt Instrument [Line Items]
Interest rate floor	0.15%
Line of Credit | Barclays Bank PLC and Other Parties | Term Loan | Six Month Secured Overnight Financing Rate SOFR
Debt Instrument [Line Items]
Interest rate floor	0.25%
Line of Credit | Barclays Bank PLC and Other Parties | Revolving Credit Facility | SOFR Loan
Debt Instrument [Line Items]
Basis spread on variable rate	2%
Line of Credit | Barclays Bank PLC and Other Parties | Revolving Credit Facility | Secured Overnight Financing Rate SOFR
Debt Instrument [Line Items]
Basis spread on variable rate	3%

Long-Term Debt and Line of Cr_4

Long-Term Debt and Line of Credit - Schedule of Debt (Details) - USD ($) $ in Thousands	May 28, 2022	Aug. 28, 2021
Debt Disclosure [Abstract]
Term Facility (effective rate of 4.7% at May 28, 2022)	$ 406,500	$ 456,500
Finance lease liabilities (effective rate of 5.6% at May 28, 2022)	479	690
Less: Deferred financing fees	4,107	5,636
Total debt	402,872	451,554
Less: Current finance lease liabilities	(278)	(285)
Long-term debt, net of deferred financing fees	$ 402,594	$ 451,269

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details)	3 Months Ended		9 Months Ended
	May 28, 2022 USD ($) $ / shares shares	May 29, 2021 USD ($)	May 28, 2022 USD ($) $ / shares shares	May 29, 2021 USD ($)	Aug. 28, 2021 USD ($) $ / shares shares
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Company share price | $ / shares					$ 35.35
Per share fair value of warrants					$ 159,800,000
Loss in fair value change of warrant liability	$ 0	$ 35,833,000	$ 30,062,000	$ 60,714,000
Warrant liability	$ 0		$ 0		$ 159,835,000
Private Warrants
Fair Value Disclosures [Abstract]
Warrants outstanding | shares	0		0		6,700,000
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding | shares	0		0		6,700,000
Exercise price of warrants | $ / shares	$ 11.50		$ 11.50		$ 11.50
Expected term of warrants					10 months 9 days
Loss in fair value change of warrant liability		$ 35,800,000	$ (30,100,000)	$ 60,700,000
Warrants Outstanding Per Warrant Fair Value					$ 23.86
Private Warrants | Measurement Input, Risk Free Interest Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Risk free interest rate					0.0006
Private Warrants | Measurement Input, Price Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Risk free interest rate					0.2170

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 28, 2022	May 29, 2021	May 28, 2022	May 29, 2021
Income Tax Disclosure [Abstract]
Income before income taxes	$ 50,488	$ 21,303	$ 113,173	$ 53,729
Income tax expense	$ 11,654	$ 15,408	$ 34,726	$ 31,095
Effective tax rate			30.70%	57.90%

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details)	9 Months Ended
	May 28, 2022
Income Tax Disclosure [Abstract]
Effective tax rate difference	(27.20%)

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 28, 2022	May 29, 2021	May 28, 2022	May 29, 2021	Aug. 28, 2021
Components of lease expense
Lease cost	$ 2,278	$ 1,486	$ 6,806	$ 4,480
Variable lease cost (1)	787	470	2,300	1,246
Total operating lease cost	3,065	1,956	9,106	5,726
Amortization of right-of-use assets	69	69	205	205
Interest on lease liabilities	7	10	24	35
Total finance lease cost	76	79	229	240
Total lease cost	3,141	$ 2,035	9,335	5,966
Assets and liabilities, lessee
Operating lease, right-of-use asset	48,134		48,134		$ 46,197
Finance lease, right-of-use asset	435		435		640
Total lease assets	48,569		48,569		46,837
Operating lease, liability, current	5,721		5,721		3,788
Finance lease, liability, current	278		278		285
Operating lease, liability, noncurrent	46,219		46,219		44,892
Finance lease, liability, noncurrent	201		201		405
Total lease liabilities	52,419		52,419		49,370
Future maturities of lease liabilities, operating leases
Remainder of 2022	1,807		1,807
2023	8,487		8,487
2024	9,425		9,425
2025	8,681		8,681
2026	6,881		6,881
Thereafter	26,845		26,845
Total lease payments	62,126		62,126
Less: Interest	(10,186)		(10,186)
Present value of lease liabilities	51,940		51,940
Future maturities of lease liabilities, finance leases
Remainder of 2022	78		78
2023	278		278
2024	145		145
2025	0		0
2026	0		0
Thereafter	0		0
Total lease payments	501		501
Less: Interest	(22)		(22)
Present value of lease liabilities	$ 479		479		$ 690
Loss on operating lease right-of-use asset impairment			$ 0	686
Lessee, Lease, Description [Line Items]
Operating Lease, Impairment Loss Net of Gain (Loss) on Termination of Lease				500
Finance Lease, Weighted Average Discount Rate, Percent	5.60%		5.60%		5.60%
Finance Lease, Weighted Average Remaining Lease Term	1 year 8 months 23 days		1 year 8 months 23 days		2 years 5 months 8 days
Operating Lease, Weighted Average Discount Rate, Percent	4.70%		4.70%		4.90%
Operating Lease, Weighted Average Remaining Lease Term	7 years 5 months 15 days		7 years 5 months 15 days		8 years 4 months 17 days
Supplemental and other information related to leases
Operating cash flows from operating leases			$ 7,155	5,619
Operating cash flows from finance leases			472	34
Financing cash flows from finance leases			$ 235	$ 235

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	May 28, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Other commitment payment obligation	$ 0.7

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	May 28, 2022	Feb. 26, 2022	May 28, 2022	May 29, 2021	Apr. 13, 2022	Jan. 07, 2022	Aug. 28, 2021	Nov. 13, 2018
Class of Stock [Line Items]
Repurchase of common stock (in shares)	218,221		789,742	0
Stock repurchase program, remaining authorized repurchase amount	$ 69.3		$ 69.3
Treasury Stock Acquired, Average Cost Per Share	$ 37.16		$ 36.09
Shares of common stock issued						4,830,761
Private Warrants
Class of Stock [Line Items]
Exercise price of warrants	$ 11.50		$ 11.50				$ 11.50
Warrants outstanding	0		0				6,700,000
Treasury Stock
Class of Stock [Line Items]
Stock repurchase program, authorized amount	$ 100		$ 100		$ 50			$ 50
Repurchase of common stock (in shares)	218,221	571,521

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	May 28, 2022	Feb. 26, 2022	Nov. 27, 2021	May 29, 2021	Feb. 27, 2021	Nov. 28, 2020	May 28, 2022	May 29, 2021
Numerator:
Net income	$ 38,834	$ 18,461	$ 21,152	$ 5,895	$ (26,214)	$ 42,953	$ 78,447	$ 22,634
Denominator:
Weighted average common shares - basic	100,426,227			95,767,629			98,294,114	95,730,581
Basic earnings per share from net income (in dollars per share)	$ 0.39			$ 0.06			$ 0.80	$ 0.24
Numerator:
Net income	$ 38,834	$ 18,461	$ 21,152	$ 5,895	$ (26,214)	$ 42,953	$ 78,447	$ 22,634
Numerator for diluted earnings per share	$ 38,834			$ 5,895			$ 78,447	$ 22,634
Denominator:
Weighted average common shares - basic	100,426,227			95,767,629			98,294,114	95,730,581
Employee stock options	1,604,847			1,465,477			1,633,278	1,191,593
Non-vested shares	206,383			356,550			262,676	275,006
Weighted average common shares - diluted	102,237,457			97,589,656			100,190,068	97,197,180
Diluted earnings per share from net income (in dollars per share)	$ 0.38			$ 0.06			$ 0.78	$ 0.23
Private Warrants
Earnings per share, diluted
Antidilutive securities excluded from computation of earnings per share				4,300,000			1,000,000	3,900,000
Stock Options
Earnings per share, diluted
Antidilutive securities excluded from computation of earnings per share	300,000						300,000	200,000

Omnibus Incentive Plan (Details

Omnibus Incentive Plan (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 28, 2022	May 29, 2021	May 28, 2022	May 29, 2021
Share-based Compensation Arrangement by Share-based Payment Award
Stock compensation expense	$ 3,000	$ 2,200	$ 8,691	$ 5,766

Omnibus Incentive Plan - Stock

Omnibus Incentive Plan - Stock Options Activity (Details) $ / shares in Units, $ in Thousands	9 Months Ended
	May 28, 2022 USD ($) $ / shares shares	May 29, 2021 USD ($)
Additional disclosures
Proceeds from option exercises | $	$ 4,343	$ 700
Stock Options
Shares
Outstanding at beginning of period (in shares) | shares	2,993,163
Granted (in shares) | shares	138,479
Exercised (in shares) | shares	(352,791)
Forfeited (in shares) | shares	(2,300)
Outstanding at end of period (in shares) | shares	2,776,551
Options vested or expected to vest (in shares) | shares	2,776,551
Exercisable (in shares) | shares	2,164,158
Weighted average exercise price
Outstanding at beginning of period (in dollars per share) | $ / shares	$ 16.31
Granted (in dollars per share) | $ / shares	40.88
Exercised (in dollars per share) | $ / shares	12.31
Forfeited (in dollars per share) | $ / shares	19.89
Outstanding at end of period (in dollars per share) | $ / shares	18.04
Options vested or expected to vest (in dollars per share) | $ / shares	18.04
Exercisable (in dollars per share) | $ / shares	$ 14.44
Weighted average remaining contractual term
Outstanding at end of period, weighted average remaining contractual life	6 years 4 months 6 days
Vested and expected to vest at end of period, weighted average remaining contractual life	6 years 4 months 6 days
Exercisable at end of period, weighted average remaining contractual life	5 years 7 months 28 days
Additional disclosures
Unrecognized compensation costs | $	$ 5,000
Period for recognition of unrecognized compensation cost	1 year 9 months 18 days
Proceeds from option exercises | $	$ 4,300	$ 700

Omnibus Incentive Plan - Restri

Omnibus Incentive Plan - Restricted Stock Units Activity (Details) - Restricted Stock Units $ / shares in Units, $ in Millions	9 Months Ended
	May 28, 2022 USD ($) $ / shares shares
Units
Non-vested at beginning of period (in shares) | shares	496,334
Granted (in shares) | shares	171,795
Vested (in shares) | shares	(169,145)
Forfeited (in shares) | shares	(22,818)
Non-vested at end of period (in shares) | shares	476,166
Weighted average grant-date fair value
Non-vested at beginning of period (in dollars per share) | $ / shares	$ 24.56
Granted (in dollars per share) | $ / shares	39.97
Vested (in dollars per share) | $ / shares	23.16
Forfeited (in dollars per share) | $ / shares	26.51
Non-vested at end of period (in dollars per share) | $ / shares	$ 30.55
Additional disclosures
Unrecognized compensation costs | $	$ 10.3
Period for recognition of unrecognized compensation cost	1 year 8 months 12 days

Omnibus Incentive Plan - Perfor

Omnibus Incentive Plan - Performance Stock Units Activity (Details) - Performance Stock Units $ / shares in Units, $ in Millions	9 Months Ended
	May 28, 2022 USD ($) $ / shares shares
Units
Non-vested at beginning of period (in shares) | shares	380,097
Granted (in shares) | shares	50,212
Vested (in shares) | shares	(166,688)
Forfeited (in shares) | shares	(8,083)
Non-vested at end of period (in shares) | shares	255,538
Weighted average grant-date fair value
Non-vested at beginning of period (in dollars per share) | $ / shares	$ 19.31
Granted (in dollars per share) | $ / shares	63.42
Vested (in dollars per share) | $ / shares	11.93
Forfeited (in dollars per share) | $ / shares	18.82
Non-vested at end of period (in dollars per share) | $ / shares	$ 32.80
Additional disclosures
Period for recognition of unrecognized compensation cost	1 year 3 months 18 days
Unrecognized compensation costs | $	$ 4.3
Requisite service period	3 years
Minimum
Additional disclosures
Performance stock vesting range	0%
Maximum
Additional disclosures
Performance stock vesting range	200%

Omnibus Incentive Plan - Stoc_2

Omnibus Incentive Plan - Stock Appreciation Rights (Activity) (Details) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended
	May 28, 2022
Additional disclosures
Award vesting period	3 years
Award expiration period	10 years
Stock Appreciation Rights (SARs)
Shares
Outstanding at beginning of period (in shares)	150,000
Granted (in shares)	0
Exercised (in shares)	0
Forfeited (in shares)	0
Outstanding at end of period (in shares)	150,000
Options vested or expected to vest (in shares)	150,000
Exercisable (in shares)	0
Weighted average exercise price
Outstanding at beginning of period (in dollars per share)	$ 24.20
Granted (in dollars per share)	0
Exercised (in dollars per share)	0
Forfeited (in dollars per share)	0
Outstanding at end of period (in dollars per share)	24.20
Options vested or expected to vest (in dollars per share)	24.20
Exercisable (in dollars per share)	$ 0
Weighted average remaining contractual term
Vested and expected to vest at end of period, weighted average remaining contractual life	7 years 5 months 4 days
Outstanding at end of period, weighted average remaining contractual life	7 years 5 months 4 days
Exercisable at end of period, weighted average remaining contractual life	0 years
Additional disclosures
Unrecognized compensation costs	$ 0.1
Period for recognition of unrecognized compensation cost	4 months 24 days

Restructuring and Related Cha_3

Restructuring and Related Charges (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 28, 2022	May 29, 2021	May 28, 2022	May 29, 2021
Restructuring and Related Charges
Loss on operating lease right-of-use asset impairment			$ 0	$ 686
Gain on termination of lease			(30)	(156)
Restructuring incurred cost	$ 0	$ 200	100	$ 4,000
Aggregate restructuring costs	9,900		9,900
Changes to the restructuring liability
Balance as of August 28, 2021			851
Charges			128
Cash payments			(979)
Balance as of May 28, 2022	0		0
Termination benefits and severance
Changes to the restructuring liability
Balance as of August 28, 2021			851
Charges			52
Cash payments			(903)
Balance as of May 28, 2022	0		0
Other restructuring
Changes to the restructuring liability
Balance as of August 28, 2021			0
Charges			76
Cash payments			(76)
Balance as of May 28, 2022	$ 0		$ 0