The Simply Good Foods Company (SMPL) 10-Q 5 Jan 23 2023 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Nov. 26, 2022	Dec. 30, 2022
Document Information [Line Items]
Entity Central Index Key	0001702744
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Nov. 26, 2022
Document Fiscal Period Focus	Q1
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	--08-26
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		99,491,357
Document Transition Report	false
Amendment Flag	false
Document Fiscal Year Focus	2023

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Nov. 26, 2022	Aug. 27, 2022
Current assets:
Cash	$ 54,144	$ 67,494
Accounts receivable, net	158,883	132,667
Inventories	124,119	125,479
Prepaid expenses	5,564	5,027
Other current assets	14,590	20,934
Total current assets	357,300	351,601
Long-term assets:
Property and equipment, net	17,668	18,157
Intangible assets, net	1,119,347	1,123,258
Goodwill	543,134	543,134
Other long-term assets	55,614	58,099
Total assets	2,093,063	2,094,249
Current liabilities:
Accounts payable	55,249	62,149
Accrued interest	257	160
Accrued expenses and other current liabilities	25,158	39,675
Current maturities of long-term debt	250	264
Total current liabilities	80,914	102,248
Long-term liabilities:
Long-term debt, less current maturities	396,994	403,022
Deferred income taxes	108,894	105,676
Other long-term liabilities	42,905	44,639
Total liabilities	629,707	655,585
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, 101,856,457 and 101,322,834 shares issued at November 26, 2022 and August 27, 2022, respectively	1,019	1,013
Treasury stock, 2,365,100 shares and 1,818,754 shares at cost at November 26, 2022 and August 27, 2022, respectively	(78,451)	(62,003)
Additional paid-in-capital	1,292,720	1,287,224
Retained earnings	250,241	214,381
Accumulated other comprehensive loss	(2,173)	(1,951)
Total stockholders’ equity	1,463,356	1,438,664
Total liabilities and stockholders’ equity	$ 2,093,063	$ 2,094,249

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares	Nov. 26, 2022	Aug. 27, 2022
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)	101,856,457	101,322,834
Treasury stock (in shares)	2,365,100	1,818,754

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Nov. 26, 2022	Nov. 27, 2021
Income Statement [Abstract]
Net sales	$ 300,878	$ 281,265
Cost of goods sold	189,886	164,710
Gross profit	110,992	116,555
Operating expenses:
Selling and marketing	28,534	30,527
General and administrative	25,641	23,702
Depreciation and amortization	4,327	4,320
Total operating expenses	58,502	58,549
Income from operations	52,490	58,006
Other income (expense):
Interest income	7	1
Interest expense	(7,055)	(6,371)
Loss in fair value change of warrant liability	0	(17,317)
Gain (loss) on foreign currency transactions	108	(353)
Other income	6	9
Total other expense	(6,934)	(24,031)
Income before income taxes	45,556	33,975
Income tax expense	9,696	12,823
Net income	35,860	21,152
Other comprehensive income:
Foreign currency translation	(222)	(40)
Comprehensive income	$ 35,638	$ 21,112
Earnings per share from net income:
Basic (in dollars per share)	$ 0.36	$ 0.22
Diluted (in dollars per share)	$ 0.36	$ 0.22
Weighted average shares outstanding:
Basic (in shares)	99,200,557	95,856,845
Diluted (in shares)	100,723,036	97,861,573

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Nov. 26, 2022	Nov. 27, 2021
Operating activities
Net income	$ 35,860	$ 21,152
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	4,952	4,741
Amortization of deferred financing costs and debt discount	532	821
Stock compensation expense	3,313	2,605
Change in fair value change of warrant liability	0	17,317
Estimated credit losses	(141)	15
Unrealized gain on foreign currency transactions	(108)	353
Deferred income taxes	3,206	6,687
Amortization of operating lease right-of-use asset	1,660	1,643
Gain on termination of lease	0	(30)
Other	571	(27)
Changes in operating assets and liabilities:
Accounts receivable, net	(26,288)	(13,993)
Inventories	638	(15,331)
Prepaid expenses	(541)	0
Other current assets	8,631	(98)
Accounts payable	(6,609)	(14,220)
Accrued interest	97	(60)
Accrued expenses and other current liabilities	(14,843)	(17,902)
Other assets and liabilities	(2,212)	(1,002)
Net cash provided by (used in) operating activities	8,718	(7,329)
Investing activities
Purchases of property and equipment	(1,151)	(2,691)
Issuance of note receivable	0	(1,500)
Investments in intangible and other assets	(87)	(186)
Net cash used in investing activities	(1,238)	(4,377)
Financing activities
Proceeds from option exercises	4,563	274
Tax payments related to issuance of restricted stock units and performance stock units	(2,298)	(3,188)
Payments on finance lease obligations	(78)	(78)
Repurchase of common stock	(16,448)	0
Principal payments of long-term debt	(6,500)	(25,000)
Net cash used in financing activities	(20,761)	(27,992)
Net decrease in cash	(13,281)	(39,698)
Cash and cash equivalents
Effect of exchange rate on cash	(69)	(200)
Cash at beginning of period	67,494	75,345
Cash and cash equivalents at end of period	54,144	35,447
Supplemental disclosures of cash flow information
Cash paid for interest	6,426	5,731
Cash paid for taxes	8	8,775
Operating lease right-of-use assets exchanged for operating lease liabilities	$ 0	$ 5,551

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. 28, 2021	$ 1,188,804	$ 959	$ (2,145)	$ 1,085,001	$ 105,807	$ (818)
Beginning balance (in shares) at Aug. 28, 2021		95,882,908
Beginning balance, Treasury (in shares) at Aug. 28, 2021			98,234
Net income	21,152				21,152
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	2,605			2,605
Foreign currency translation	$ (40)					(40)
Repurchase of common stock (in shares)	0
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	$ 961	$ (2,145)	1,084,690	126,959	(858)
Treasury Stock, Value	62,003		$ (62,003)
Additional paid-in-capital	1,287,224			1,287,224
Common stock, $0.01 par value, 600,000,000 shares authorized, 101,856,457 and 101,322,834 shares issued at November 26, 2022 and August 27, 2022, respectively	1,013	$ 1,013
Accumulated other comprehensive loss	(1,951)					(1,951)
Beginning balance at Aug. 27, 2022	$ 1,438,664				214,381
Beginning balance (in shares) at Aug. 27, 2022		101,322,834
Beginning balance, Treasury (in shares) at Aug. 27, 2022	1,818,754		1,818,754
Net income	$ 35,860				35,860
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	3,237			3,237
Foreign currency translation	(222)					(222)
Treasury Stock, Value, Acquired, Cost Method	$ (16,448)		$ (16,448)
Repurchase of common stock (in shares)	546,346		546,346
Shares issued upon vesting of Restricted Stock Units	$ (2,298)	$ 2		(2,300)
Shares issued upon vesting of Restricted Stock Units (in shares)		180,342
Exercise of options to purchase common stock	$ 4,563	$ 4		4,559
Exercise of options to purchase common stock (in shares)		353,281
Ending balance (in shares) at Nov. 26, 2022		101,856,457
Ending balance, Treasury (in shares) at Nov. 26, 2022	2,365,100		2,365,100
Ending balance at Nov. 26, 2022	$ 1,463,356				$ 250,241
Treasury Stock, Value	78,451		$ (78,451)
Additional paid-in-capital	1,292,720			$ 1,292,720
Common stock, $0.01 par value, 600,000,000 shares authorized, 101,856,457 and 101,322,834 shares issued at November 26, 2022 and August 27, 2022, respectively	1,019	$ 1,019
Accumulated other comprehensive loss	$ (2,173)					$ (2,173)

Nature of Operations and Princi

Nature of Operations and Principles of Consolidation	3 Months Ended
	Nov. 26, 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, and other product offerings. 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®, Quest® and Quest Hero TM 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 consolidated financial statements and related notes of the Company and its subsidiaries are unaudited. The unaudited interim 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 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 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 27, 2022, included in the Company’s Annual Report on Form 10-K (“Annual Report”) filed with the SEC on October 21, 2022. The ultimate effect the supply chain challenges, cost pressures, current high inflation environment, and the possible economic recession could have on consumer purchasing patterns and on the Company’s 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 and Europe in general. Management is also monitoring the situation in Eastern Europe for its possible supply chain and consumer consumption effects on the Company’s business.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Nov. 26, 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. 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
	Nov. 26, 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 brands: Thirteen Weeks Ended (In thousands) November 26, 2022 November 27, 2021 North America (1) Atkins $ 131,745 $ 133,794 Quest 161,472 138,294 Total North America 293,217 272,088 International 7,661 9,177 Total net sales $ 300,878 $ 281,265 (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 $(0.1) million for the thirteen weeks ended November 26, 2022, and were immaterial for the thirteen weeks ended November 27, 2021. As of November 26, 2022 and August 27, 2022, the allowances for doubtful accounts related to these accounts receivable were $1.1 million and $1.2 million, respectively. Additionally, as of November 26, 2022, the Company had an expected credit loss reserve of $1.0 million on a $3.0 million note receivable related to the Company’s sale of its SimplyProtein® brand and related assets during its fiscal year 2021.

Goodwill and Intangibles

Goodwill and Intangibles	3 Months Ended
	Nov. 26, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangibles	As of November 26, 2022 and August 27, 2022, Goodwill in the Consolidated Balance Sheets was $543.1 million. There were no impairment charges related to goodwill during the thirteen weeks ended November 26, 2022 or since the inception of the Company. Intangible assets, net in the Consolidated Balance Sheets consists of the following: November 26, 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 44,603 129,397 Licensing agreements 13 years 22,000 9,060 12,940 Proprietary recipes and formulas 7 years 7,000 5,381 1,619 Software and website development costs 3 - 5 years 5,863 4,525 1,338 Intangible assets in progress 3 - 5 years 53 — 53 $ 1,182,916 $ 63,569 $ 1,119,347 August 27, 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 41,703 132,297 Licensing agreements 13 years 22,000 8,581 13,419 Proprietary recipes and formulas 7 years 7,000 5,131 1,869 Software and website development costs 3 - 5 years 5,863 4,190 1,673 $ 1,182,863 $ 59,605 $ 1,123,258 Changes in Intangible assets, net during the thirteen weeks ended November 26, 2022 were primarily related to recurring amortization expense. Amortization expense related to intangible assets was $3.9 million and $4.0 million for the thirteen weeks ended November 26, 2022 and November 27, 2021, respectively. There were no impairment charges related to intangible assets during the thirteen weeks ended November 26, 2022 and November 27, 2021. Estimated future amortization for each of the next five fiscal years and thereafter is as follows: (In thousands) Amortization Remainder of 2023 $ 11,703 2024 14,976 2025 13,542 2026 13,517 2027 13,517 2028 and thereafter 78,039 Total $ 145,294

Long-Term Debt and Line of Cred

Long-Term Debt and Line of Credit	3 Months Ended
	Nov. 26, 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 then-effective maturity date of the Initial Term Loans and (ii) December 16, 2026. On January 21, 2022, the Company entered into 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 SOFR and related replacement provisions for 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 November 26, 2022 and August 27, 2022, respectively. Long-term debt consists of the following: (In thousands) November 26, 2022 August 27, 2022 Term Facility (effective rate of 7.7% at November 26, 2022) $ 400,000 $ 406,500 Finance lease liabilities (effective rate of 5.6% at November 26, 2022) 333 406 Less: Deferred financing fees 3,089 3,620 Total debt 397,244 403,286 Less: Current finance lease liabilities 250 264 Long-term debt, net of deferred financing fees $ 396,994 $ 403,022 The Company is not required to make principal payments on the Term Facility over the twelve months following the period ended November 26, 2022. The outstanding balance of the Term Facility is due upon its maturity in July 2024. As of November 26, 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 November 26, 2022.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Nov. 26, 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 During the thirteen weeks ended November 27, 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, and were exercised on a cashless basis on January 7, 2022 resulting in a net issuance of 4,830,761 shares of the Company’s common stock. As a result, there were no outstanding liability-classified Private Warrants as of November 26, 2022 and August 27, 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 reflected a Level 3 measurement within the fair value measurement hierarchy. The periodic remeasurement of the warrant liability has been reflected in Loss in fair value change of warrant liability within the Consolidated Statements of Operations and Comprehensive Income. The adjustment for the thirteen weeks ended November 27, 2021 was a loss of $17.3 million.

Income Taxes

Income Taxes	3 Months Ended
	Nov. 26, 2022
Income Tax Disclosure [Abstract]
Income Taxes	The tax expense and the effective tax rate resulting from operations were as follows: Thirteen Weeks Ended (In thousands) November 26, 2022 November 27, 2021 Income before income taxes $ 45,556 $ 33,975 Income tax expense $ 9,696 $ 12,823 Effective tax rate 21.3 % 37.7 % The effective tax rate for the thirteen weeks ended November 26, 2022 was 16.4% less than the effective tax rate for the thirteen weeks ended November 27, 2021, which was primarily driven by the non-cash change in the fair value of the warrant liability in the prior fiscal period and other permanent differences.

Leases

Leases	3 Months Ended
	Nov. 26, 2022
Leases [Abstract]
Lessee, Operating Leases	The components of lease expense were as follows: Thirteen Weeks Ended (In thousands) Statements of Operations Caption November 26, 2022 November 27, 2021 Operating lease cost: Lease cost Cost of goods sold and $ 2,252 $ 2,255 Variable lease cost (1) Cost of goods sold and 738 653 Total operating lease cost 2,990 2,908 Finance lease cost: Amortization of right-of-use assets Cost of goods sold 68 68 Interest on lease liabilities Interest expense 5 9 Total finance lease cost 73 77 Total lease cost $ 3,063 $ 2,985 (1) Variable lease cost primarily consists of common area maintenance, such as cleaning and repairs. The right-of-use assets and corresponding liabilities related to both operating and finance leases are as follows: (In thousands) Balance Sheets Caption November 26, 2022 August 27, 2022 Assets Operating lease right-of-use assets Other long-term assets $ 44,800 $ 46,460 Finance lease right-of-use assets Property and equipment, net 299 367 Total lease assets $ 45,099 $ 46,827 Liabilities Current: Operating lease liabilities Accrued expenses and other current liabilities $ 7,035 $ 6,249 Finance lease liabilities Current maturities of long-term debt 250 264 Long-term: Operating lease liabilities Other long-term liabilities 42,672 44,482 Finance lease liabilities Long-term debt, less current maturities 83 142 Total lease liabilities $ 50,040 $ 51,137 Future maturities of lease liabilities as of November 26, 2022 were as follows: (In thousands) Operating Leases Finance Leases Fiscal year ending: Remainder of 2023 6,835 200 2024 9,424 145 2025 8,680 — 2026 6,880 — 2027 7,036 — Thereafter 19,848 — Total lease payments 58,703 345 Less: Interest (8,996) (12) Present value of lease liabilities $ 49,707 $ 333 The weighted-average remaining lease terms and weighted-average discount rates for operating and finance leases were as follows: November 26, 2022 August 27, 2022 Weighted-average remaining lease term (in years) Operating leases 7.09 7.27 Finance leases 1.30 1.51 Weighted-average discount rate Operating leases 4.7 % 4.7 % Finance leases 5.6 % 5.6 % Supplemental and other information related to leases was as follows: Thirteen Weeks Ended (In thousands) November 26, 2022 November 27, 2021 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 2,040 $ 2,054 Operating cash flows from finance leases $ 131 $ 148 Financing cash flows from finance leases $ 78 $ 78
Lessee, Finance Leases	The components of lease expense were as follows: Thirteen Weeks Ended (In thousands) Statements of Operations Caption November 26, 2022 November 27, 2021 Operating lease cost: Lease cost Cost of goods sold and $ 2,252 $ 2,255 Variable lease cost (1) Cost of goods sold and 738 653 Total operating lease cost 2,990 2,908 Finance lease cost: Amortization of right-of-use assets Cost of goods sold 68 68 Interest on lease liabilities Interest expense 5 9 Total finance lease cost 73 77 Total lease cost $ 3,063 $ 2,985 (1) Variable lease cost primarily consists of common area maintenance, such as cleaning and repairs. The right-of-use assets and corresponding liabilities related to both operating and finance leases are as follows: (In thousands) Balance Sheets Caption November 26, 2022 August 27, 2022 Assets Operating lease right-of-use assets Other long-term assets $ 44,800 $ 46,460 Finance lease right-of-use assets Property and equipment, net 299 367 Total lease assets $ 45,099 $ 46,827 Liabilities Current: Operating lease liabilities Accrued expenses and other current liabilities $ 7,035 $ 6,249 Finance lease liabilities Current maturities of long-term debt 250 264 Long-term: Operating lease liabilities Other long-term liabilities 42,672 44,482 Finance lease liabilities Long-term debt, less current maturities 83 142 Total lease liabilities $ 50,040 $ 51,137 Future maturities of lease liabilities as of November 26, 2022 were as follows: (In thousands) Operating Leases Finance Leases Fiscal year ending: Remainder of 2023 6,835 200 2024 9,424 145 2025 8,680 — 2026 6,880 — 2027 7,036 — Thereafter 19,848 — Total lease payments 58,703 345 Less: Interest (8,996) (12) Present value of lease liabilities $ 49,707 $ 333 The weighted-average remaining lease terms and weighted-average discount rates for operating and finance leases were as follows: November 26, 2022 August 27, 2022 Weighted-average remaining lease term (in years) Operating leases 7.09 7.27 Finance leases 1.30 1.51 Weighted-average discount rate Operating leases 4.7 % 4.7 % Finance leases 5.6 % 5.6 % Supplemental and other information related to leases was as follows: Thirteen Weeks Ended (In thousands) November 26, 2022 November 27, 2021 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 2,040 $ 2,054 Operating cash flows from finance leases $ 131 $ 148 Financing cash flows from finance leases $ 78 $ 78

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Nov. 26, 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 November 26, 2022, the Company will be required to make payments of $3.4 million over the next year.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Nov. 26, 2022
Equity [Abstract]
Stockholders' Equity	Stock Repurchase Program The Company adopted a $50.0 million stock repurchase program on November 13, 2018. On April 13, 2022, and October 21, 2022, the Company announced that its Board of Directors had approved the addition of $50.0 million and $50.0 million, respectively, to its stock repurchase program, resulting in authorized stock repurchases of up to an aggregate of $150.0 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 November 26, 2022, the Company repurchased 546,346 shares of common stock at an average share price of $30.11 per share. The Company did not repurchase any shares of common stock during the thirteen weeks ended November 27, 2021. As of November 26, 2022, approximately $71.5 million remained available under the stock repurchase program. Warrants to Purchase Common Stock During the thirteen weeks ended November 27, 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 as of November 26, 2022 and August 27, 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 have been reflected in Loss in fair value change of warrant liability within the Consolidated Statements of Operations and Comprehensive Income.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Nov. 26, 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 was 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 table reconciles the numerators and denominators used in the computations of both basic and diluted earnings per share: Thirteen Weeks Ended (In thousands, except per share data) November 26, 2022 November 27, 2021 Basic earnings per share computation: Numerator: Net income available to common stockholders $ 35,860 $ 21,152 Denominator: Weighted average common shares outstanding - basic 99,200,557 95,856,845 Basic earnings per share from net income $ 0.36 $ 0.22 Diluted earnings per share computation: Numerator: Net income available for common stockholders $ 35,860 $ 21,152 Numerator for diluted earnings per share $ 35,860 $ 21,152 Denominator: Weighted average common shares outstanding - basic 99,200,557 95,856,845 Employee stock options 1,299,543 1,652,577 Non-vested stock units 222,936 352,151 Weighted average common shares - diluted 100,723,036 97,861,573 Diluted earnings per share from net income $ 0.36 $ 0.22 Diluted earnings per share calculations for the thirteen weeks ended November 26, 2022 and November 27, 2021 excluded 0.4 million shares and 0.2 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 weeks ended November 26, 2022 and November 27, 2021 excluded 0.1 million non-vested stock units and an immaterial number of non-vested stock units, respectively, that would have been anti-dilutive. Diluted earnings per share calculations for the thirteen weeks ended November 27, 2021 excluded 4.6 million shares issuable upon exercise of Private Warrants that would have been anti-dilutive.

Omnibus Incentive Plan

Omnibus Incentive Plan	3 Months Ended
	Nov. 26, 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 for equity-classified awards 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 $3.3 million and $2.6 million in the thirteen weeks ended November 26, 2022 and November 27, 2021, respectively. Stock Options The following table summarizes stock option activity for the thirteen weeks ended November 26, 2022: Shares underlying options Weighted average Weighted average remaining contractual life (years) Outstanding as of August 27, 2022 2,776,551 $ 18.04 6.10 Granted 135,001 38.61 Exercised (314,431) 14.51 Forfeited — — Outstanding as of November 26, 2022 2,597,121 $ 19.54 6.09 Vested and expected to vest as of November 26, 2022 2,597,121 $ 19.54 6.09 Exercisable as of November 26, 2022 2,064,196 $ 15.62 5.42 As of November 26, 2022, the Company had $6.0 million of total unrecognized compensation cost related to stock options that will be recognized over a weighted average period of 1.9 years. During the thirteen weeks ended November 26, 2022 and November 27, 2021, the Company received $4.6 million and $0.3 million in cash from stock option exercises, respectively. Restricted Stock Units The following table summarizes restricted stock unit activity for the thirteen weeks ended November 26, 2022: Units Weighted average Non-vested as of August 27, 2022 453,003 $ 30.68 Granted 245,591 37.18 Vested (167,979) 27.22 Forfeited — — Non-vested as of November 26, 2022 530,615 $ 34.78 As of November 26, 2022, the Company had $15.7 million of total unrecognized compensation cost related to restricted stock units that will be recognized over a weighted average period of 1.8 years. Performance Stock Units During the thirteen weeks ended November 26, 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 thirteen weeks ended November 26, 2022: Units Weighted average Non-vested as of August 27, 2022 255,023 $ 32.82 Granted 50,629 62.55 Vested (72,452) 27.39 Forfeited (20,338) 27.39 Non-vested as of November 26, 2022 212,862 $ 42.25 As of November 26, 2022, the Company had $6.0 million of total unrecognized compensation cost related to performance stock units that will be recognized over a weighted average period of 1.7 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 have been met. The SARs outstanding as of November 26, 2022 cliff vest two years from the date of grant and must be exercised within five years. The following table summarizes SARs activity for the thirteen weeks ended November 26, 2022: Shares underlying SARs Weighted average Outstanding as of August 27, 2022 150,000 $ 24.20 Granted 150,000 37.67 Exercised (150,000) 24.20 Forfeited — — Outstanding as of November 26, 2022 150,000 $ 37.67

Restructuring and Related Charg

Restructuring and Related Charges	3 Months Ended
	Nov. 26, 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; therefore no restructuring or restructuring-related costs were incurred in the thirteen weeks ended November 26, 2022. In the thirteen weeks ended November 27, 2021, the Company incurred an immaterial amount of restructuring and restructuring-related costs. Since the announcement of the restructuring activities in May 2020, the Company incurred aggregate restructuring and restructuring-related costs of $9.9 million.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Nov. 26, 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. 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 consolidated financial statements and related notes of the Company and its subsidiaries are unaudited. The unaudited interim 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 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 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 27, 2022, included in the Company’s Annual Report on Form 10-K (“Annual Report”) filed with the SEC on October 21, 2022. The ultimate effect the supply chain challenges, cost pressures, current high inflation environment, and the possible economic recession could have on consumer purchasing patterns and on the Company’s 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 and Europe in general. Management is also monitoring the situation in Eastern Europe for its possible supply chain and consumer consumption effects on the Company’s business.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Nov. 26, 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 brands: Thirteen Weeks Ended (In thousands) November 26, 2022 November 27, 2021 North America (1) Atkins $ 131,745 $ 133,794 Quest 161,472 138,294 Total North America 293,217 272,088 International 7,661 9,177 Total net sales $ 300,878 $ 281,265 (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)	3 Months Ended
	Nov. 26, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	Intangible assets, net in the Consolidated Balance Sheets consists of the following: November 26, 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 44,603 129,397 Licensing agreements 13 years 22,000 9,060 12,940 Proprietary recipes and formulas 7 years 7,000 5,381 1,619 Software and website development costs 3 - 5 years 5,863 4,525 1,338 Intangible assets in progress 3 - 5 years 53 — 53 $ 1,182,916 $ 63,569 $ 1,119,347 August 27, 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 41,703 132,297 Licensing agreements 13 years 22,000 8,581 13,419 Proprietary recipes and formulas 7 years 7,000 5,131 1,869 Software and website development costs 3 - 5 years 5,863 4,190 1,673 $ 1,182,863 $ 59,605 $ 1,123,258
Schedule of Indefinite-Lived Intangible Assets	Intangible assets, net in the Consolidated Balance Sheets consists of the following: November 26, 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 44,603 129,397 Licensing agreements 13 years 22,000 9,060 12,940 Proprietary recipes and formulas 7 years 7,000 5,381 1,619 Software and website development costs 3 - 5 years 5,863 4,525 1,338 Intangible assets in progress 3 - 5 years 53 — 53 $ 1,182,916 $ 63,569 $ 1,119,347 August 27, 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 41,703 132,297 Licensing agreements 13 years 22,000 8,581 13,419 Proprietary recipes and formulas 7 years 7,000 5,131 1,869 Software and website development costs 3 - 5 years 5,863 4,190 1,673 $ 1,182,863 $ 59,605 $ 1,123,258
Estimated Future Amortization	Estimated future amortization for each of the next five fiscal years and thereafter is as follows: (In thousands) Amortization Remainder of 2023 $ 11,703 2024 14,976 2025 13,542 2026 13,517 2027 13,517 2028 and thereafter 78,039 Total $ 145,294

Long-Term Debt and Line of Cr_2

Long-Term Debt and Line of Credit (Tables)	3 Months Ended
	Nov. 26, 2022
Debt Disclosure [Abstract]
Schedule of Debt	Long-term debt consists of the following: (In thousands) November 26, 2022 August 27, 2022 Term Facility (effective rate of 7.7% at November 26, 2022) $ 400,000 $ 406,500 Finance lease liabilities (effective rate of 5.6% at November 26, 2022) 333 406 Less: Deferred financing fees 3,089 3,620 Total debt 397,244 403,286 Less: Current finance lease liabilities 250 264 Long-term debt, net of deferred financing fees $ 396,994 $ 403,022

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Nov. 26, 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: Thirteen Weeks Ended (In thousands) November 26, 2022 November 27, 2021 Income before income taxes $ 45,556 $ 33,975 Income tax expense $ 9,696 $ 12,823 Effective tax rate 21.3 % 37.7 %

Leases (Tables)

Leases (Tables)	3 Months Ended
	Nov. 26, 2022
Leases [Abstract]
Lease, Cost	The components of lease expense were as follows: Thirteen Weeks Ended (In thousands) Statements of Operations Caption November 26, 2022 November 27, 2021 Operating lease cost: Lease cost Cost of goods sold and $ 2,252 $ 2,255 Variable lease cost (1) Cost of goods sold and 738 653 Total operating lease cost 2,990 2,908 Finance lease cost: Amortization of right-of-use assets Cost of goods sold 68 68 Interest on lease liabilities Interest expense 5 9 Total finance lease cost 73 77 Total lease cost $ 3,063 $ 2,985 (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 November 26, 2022 August 27, 2022 Assets Operating lease right-of-use assets Other long-term assets $ 44,800 $ 46,460 Finance lease right-of-use assets Property and equipment, net 299 367 Total lease assets $ 45,099 $ 46,827 Liabilities Current: Operating lease liabilities Accrued expenses and other current liabilities $ 7,035 $ 6,249 Finance lease liabilities Current maturities of long-term debt 250 264 Long-term: Operating lease liabilities Other long-term liabilities 42,672 44,482 Finance lease liabilities Long-term debt, less current maturities 83 142 Total lease liabilities $ 50,040 $ 51,137
Finance Lease, Liability, Maturity	Future maturities of lease liabilities as of November 26, 2022 were as follows: (In thousands) Operating Leases Finance Leases Fiscal year ending: Remainder of 2023 6,835 200 2024 9,424 145 2025 8,680 — 2026 6,880 — 2027 7,036 — Thereafter 19,848 — Total lease payments 58,703 345 Less: Interest (8,996) (12) Present value of lease liabilities $ 49,707 $ 333
Lessee, Operating Lease, Liability, Maturity	Future maturities of lease liabilities as of November 26, 2022 were as follows: (In thousands) Operating Leases Finance Leases Fiscal year ending: Remainder of 2023 6,835 200 2024 9,424 145 2025 8,680 — 2026 6,880 — 2027 7,036 — Thereafter 19,848 — Total lease payments 58,703 345 Less: Interest (8,996) (12) Present value of lease liabilities $ 49,707 $ 333
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: November 26, 2022 August 27, 2022 Weighted-average remaining lease term (in years) Operating leases 7.09 7.27 Finance leases 1.30 1.51 Weighted-average discount rate Operating leases 4.7 % 4.7 % 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: Thirteen Weeks Ended (In thousands) November 26, 2022 November 27, 2021 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 2,040 $ 2,054 Operating cash flows from finance leases $ 131 $ 148 Financing cash flows from finance leases $ 78 $ 78

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Nov. 26, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table reconciles the numerators and denominators used in the computations of both basic and diluted earnings per share: Thirteen Weeks Ended (In thousands, except per share data) November 26, 2022 November 27, 2021 Basic earnings per share computation: Numerator: Net income available to common stockholders $ 35,860 $ 21,152 Denominator: Weighted average common shares outstanding - basic 99,200,557 95,856,845 Basic earnings per share from net income $ 0.36 $ 0.22 Diluted earnings per share computation: Numerator: Net income available for common stockholders $ 35,860 $ 21,152 Numerator for diluted earnings per share $ 35,860 $ 21,152 Denominator: Weighted average common shares outstanding - basic 99,200,557 95,856,845 Employee stock options 1,299,543 1,652,577 Non-vested stock units 222,936 352,151 Weighted average common shares - diluted 100,723,036 97,861,573 Diluted earnings per share from net income $ 0.36 $ 0.22

Omnibus Incentive Plan (Tables)

Omnibus Incentive Plan (Tables)	3 Months Ended
	Nov. 26, 2022
Share-Based Payment Arrangement [Abstract]
Stock option activity	The following table summarizes stock option activity for the thirteen weeks ended November 26, 2022: Shares underlying options Weighted average Weighted average remaining contractual life (years) Outstanding as of August 27, 2022 2,776,551 $ 18.04 6.10 Granted 135,001 38.61 Exercised (314,431) 14.51 Forfeited — — Outstanding as of November 26, 2022 2,597,121 $ 19.54 6.09 Vested and expected to vest as of November 26, 2022 2,597,121 $ 19.54 6.09 Exercisable as of November 26, 2022 2,064,196 $ 15.62 5.42
Restricted stock unit activity	The following table summarizes restricted stock unit activity for the thirteen weeks ended November 26, 2022: Units Weighted average Non-vested as of August 27, 2022 453,003 $ 30.68 Granted 245,591 37.18 Vested (167,979) 27.22 Forfeited — — Non-vested as of November 26, 2022 530,615 $ 34.78
Performance stock unit activity	The following table summarizes performance stock unit activity for the thirteen weeks ended November 26, 2022: Units Weighted average Non-vested as of August 27, 2022 255,023 $ 32.82 Granted 50,629 62.55 Vested (72,452) 27.39 Forfeited (20,338) 27.39 Non-vested as of November 26, 2022 212,862 $ 42.25
Stock appreciation right activity	The following table summarizes SARs activity for the thirteen weeks ended November 26, 2022: Shares underlying SARs Weighted average Outstanding as of August 27, 2022 150,000 $ 24.20 Granted 150,000 37.67 Exercised (150,000) 24.20 Forfeited — — Outstanding as of November 26, 2022 150,000 $ 37.67

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 26, 2022	Nov. 27, 2021
Disaggregation of revenue
Net sales	$ 300,878	$ 281,265
North America
Disaggregation of revenue
Net sales	293,217	272,088
International
Disaggregation of revenue
Net sales	7,661	9,177
Atkins | North America
Disaggregation of revenue
Net sales	131,745	133,794
Quest | North America
Disaggregation of revenue
Net sales	$ 161,472	$ 138,294

Revenue Recognition (Details 2)

Revenue Recognition (Details 2) - USD ($) $ in Thousands	3 Months Ended
	Nov. 26, 2022	Aug. 27, 2022
Revenue from Contract with Customer [Abstract]
Allowance for doubtful accounts	$ 1,100	$ 1,200
Accounts and Financing Receivable, Allowance for Credit Loss	1,000
Note Receivable from SimplyProtein Sale	3,000
Credit loss expense (reversal), accounts receivable	$ (100)

Goodwill Rollforward (Details)

Goodwill Rollforward (Details) - USD ($) $ in Thousands	Nov. 26, 2022	Aug. 27, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 543,134	$ 543,134

Goodwill Narrative (Details)

Goodwill Narrative (Details) $ in Thousands	Nov. 26, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill impairment charges	$ 0

Schedule of Intangible Assets (

Schedule of Intangible Assets (Details) - USD ($) $ in Thousands		3 Months Ended
	Aug. 27, 2022	Nov. 26, 2022
Intangible assets with finite lives:
Intangible assets, gross carrying amount	$ 1,182,863	$ 1,182,916
Finite-lived intangible assets, accumulated amortization	59,605	63,569
Intangible assets, net carrying amount	$ 1,123,258	1,119,347
Finite-lived intangible assets, net carrying amount		$ 145,294
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	41,703	44,603
Finite-lived intangible assets, net carrying amount	$ 132,297	$ 129,397
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	8,581	9,060
Finite-lived intangible assets, net carrying amount	$ 13,419	$ 12,940
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	5,131	5,381
Finite-lived intangible assets, net carrying amount	1,869	1,619
Software and website development costs
Intangible assets with finite lives:
Finite-lived intangible assets, gross carrying amount	5,863	5,863
Finite-lived intangible assets, accumulated amortization	4,190	4,525
Finite-lived intangible assets, net carrying amount	$ 1,673	1,338
In Process Research and Development
Intangible assets with finite lives:
Finite-lived intangible assets, gross carrying amount		53
Finite-lived intangible assets, accumulated amortization		0
Finite-lived intangible assets, net carrying amount		$ 53
Minimum | Software and website development costs
Intangible assets with finite lives:
Useful life	3 years	3 years
Minimum | In Process Research and Development
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 | In Process Research and Development
Intangible assets with finite lives:
Useful life		5 years
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
	Nov. 26, 2022	Nov. 27, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible asset amortization expense	$ 3.9	$ 4
Impairment of intangible assets, excluding goodwill	$ 0	$ 0

Estimated Future Amortization (

Estimated Future Amortization (Details) $ in Thousands	Nov. 26, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2023	$ 11,703
2024	14,976
2025	13,542
2026	13,517
2027	13,517
2028 and thereafter	78,039
Finite-lived intangible assets, net carrying amount	$ 145,294

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 ($)	Jul. 07, 2017 USD ($)	Nov. 26, 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				7.70%
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	Nov. 26, 2022	Aug. 27, 2022
Debt Disclosure [Abstract]
Term Facility (effective rate of 7.7% at November 26, 2022)	$ 400,000	$ 406,500
Finance lease liabilities (effective rate of 5.6% at November 26, 2022)	333	406
Less: Deferred financing fees	3,089	3,620
Total debt	397,244	403,286
Less: Current finance lease liabilities	(250)	(264)
Long-term debt, net of deferred financing fees	$ 396,994	$ 403,022

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 26, 2022	Nov. 27, 2021	Aug. 27, 2022
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Change in fair value change of warrant liability	$ 0	$ 17,317
Private Warrants
Fair Value Disclosures [Abstract]
Warrants outstanding	0		6,700,000
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding	0		6,700,000
Change in fair value change of warrant liability		$ 17,300

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 26, 2022	Nov. 27, 2021
Income Tax Disclosure [Abstract]
Income before income taxes	$ 45,556	$ 33,975
Income tax expense	$ 9,696	$ 12,823
Effective tax rate	21.30%	37.70%

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details)	3 Months Ended
	Nov. 26, 2022
Income Tax Disclosure [Abstract]
Effective tax rate difference	(16.40%)

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 26, 2022	Nov. 27, 2021	Aug. 27, 2022
Components of lease expense
Lease cost	$ 2,252	$ 2,255
Variable lease cost (1)	738	653
Total operating lease cost	2,990	2,908
Amortization of right-of-use assets	68	68
Interest on lease liabilities	5	9
Total finance lease cost	73	77
Total lease cost	3,063	2,985
Assets and liabilities, lessee
Operating lease, right-of-use asset	44,800		$ 46,460
Finance lease, right-of-use asset	299		367
Total lease assets	45,099		46,827
Operating lease, liability, current	7,035		6,249
Finance lease, liability, current	250		264
Operating lease, liability, noncurrent	42,672		44,482
Finance lease, liability, noncurrent	83		142
Total lease liabilities	50,040		51,137
Future maturities of lease liabilities, operating leases
Remainder of 2023	6,835
2024	9,424
2025	8,680
2026	6,880
2027	7,036
Thereafter	19,848
Total lease payments	58,703
Less: Interest	(8,996)
Present value of lease liabilities	49,707
Future maturities of lease liabilities, finance leases
Remainder of 2023	200
2024	145
2025	0
2026	0
2027	0
Thereafter	0
Total lease payments	345
Less: Interest	(12)
Present value of lease liabilities	$ 333		$ 406
Lessee, Lease, Description [Line Items]
Finance Lease, Weighted Average Discount Rate, Percent	5.60%		5.60%
Finance Lease, Weighted Average Remaining Lease Term	1 year 3 months 18 days		1 year 6 months 3 days
Operating Lease, Weighted Average Discount Rate, Percent	4.70%		4.70%
Operating Lease, Weighted Average Remaining Lease Term	7 years 1 month 2 days		7 years 3 months 7 days
Supplemental and other information related to leases
Operating cash flows from operating leases	$ 2,040	2,054
Operating cash flows from finance leases	131	148
Financing cash flows from finance leases	$ 78	$ 78

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Nov. 26, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Other commitment payment obligation	$ 3.4

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Nov. 26, 2022	Nov. 27, 2021	Oct. 21, 2022	Aug. 27, 2022	Apr. 13, 2022	Jan. 07, 2022	Nov. 13, 2018
Class of Stock [Line Items]
Repurchase of common stock (in shares)	546,346	0
Stock repurchase program, remaining authorized repurchase amount	$ 71.5
Treasury Stock Acquired, Average Cost Per Share	$ 30.11
Shares of common stock issued						4,830,761
Private Warrants
Class of Stock [Line Items]
Exercise price of warrants	$ 11.50
Warrants outstanding	0			6,700,000
Treasury Stock
Class of Stock [Line Items]
Stock repurchase program, authorized amount	$ 150		$ 50		$ 50		$ 50
Repurchase of common stock (in shares)	546,346

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Nov. 26, 2022	Nov. 27, 2021
Numerator:
Net income	$ 35,860	$ 21,152
Denominator:
Weighted average common shares - basic	99,200,557	95,856,845
Basic earnings per share from net income (in dollars per share)	$ 0.36	$ 0.22
Numerator:
Net income	$ 35,860	$ 21,152
Numerator for diluted earnings per share	$ 35,860	$ 21,152
Denominator:
Weighted average common shares - basic	99,200,557	95,856,845
Employee stock options	1,299,543	1,652,577
Non-vested shares	222,936	352,151
Weighted average common shares - diluted	100,723,036	97,861,573
Diluted earnings per share from net income (in dollars per share)	$ 0.36	$ 0.22
Private Warrants
Earnings per share, diluted
Antidilutive securities excluded from computation of earnings per share		4,600,000
Stock Options
Earnings per share, diluted
Antidilutive securities excluded from computation of earnings per share	400,000	200,000
Restricted Stock Units
Earnings per share, diluted
Antidilutive securities excluded from computation of earnings per share	100,000

Omnibus Incentive Plan (Details

Omnibus Incentive Plan (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 26, 2022	Nov. 27, 2021
Share-based Compensation Arrangement by Share-based Payment Award
Stock compensation expense	$ 3,313	$ 2,605

Omnibus Incentive Plan - Stock

Omnibus Incentive Plan - Stock Options Activity (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
	Aug. 27, 2022	Nov. 26, 2022	Nov. 27, 2021
Additional disclosures
Proceeds from option exercises		$ 4,563	$ 274
Stock Options
Shares
Outstanding at beginning of period (in shares)		2,776,551
Granted (in shares)		135,001
Exercised (in shares)		(314,431)
Forfeited (in shares)		0
Outstanding at end of period (in shares)	2,776,551	2,597,121
Options vested or expected to vest (in shares)		2,597,121
Exercisable (in shares)		2,064,196
Weighted average exercise price
Outstanding at beginning of period (in dollars per share)		$ 18.04
Granted (in dollars per share)		38.61
Exercised (in dollars per share)		14.51
Forfeited (in dollars per share)		0
Outstanding at end of period (in dollars per share)	$ 18.04	19.54
Options vested or expected to vest (in dollars per share)		19.54
Exercisable (in dollars per share)		$ 15.62
Weighted average remaining contractual term
Outstanding at end of period, weighted average remaining contractual life	6 years 1 month 6 days	6 years 1 month 2 days
Vested and expected to vest at end of period, weighted average remaining contractual life		6 years 1 month 2 days
Exercisable at end of period, weighted average remaining contractual life		5 years 5 months 1 day
Additional disclosures
Unrecognized compensation costs		$ 6,000
Period for recognition of unrecognized compensation cost		1 year 10 months 24 days
Proceeds from option exercises		$ 4,600	$ 300

Omnibus Incentive Plan - Restri

Omnibus Incentive Plan - Restricted Stock Units Activity (Details) - Restricted Stock Units $ / shares in Units, $ in Millions	3 Months Ended
	Nov. 26, 2022 USD ($) $ / shares shares
Units
Non-vested at beginning of period (in shares) | shares	453,003
Granted (in shares) | shares	245,591
Vested (in shares) | shares	(167,979)
Forfeited (in shares) | shares	0
Non-vested at end of period (in shares) | shares	530,615
Weighted average grant-date fair value
Non-vested at beginning of period (in dollars per share) | $ / shares	$ 30.68
Granted (in dollars per share) | $ / shares	37.18
Vested (in dollars per share) | $ / shares	27.22
Forfeited (in dollars per share) | $ / shares	0
Non-vested at end of period (in dollars per share) | $ / shares	$ 34.78
Additional disclosures
Unrecognized compensation costs | $	$ 15.7
Period for recognition of unrecognized compensation cost	1 year 9 months 18 days

Omnibus Incentive Plan - Perfor

Omnibus Incentive Plan - Performance Stock Units Activity (Details) - Performance Stock Units $ / shares in Units, $ in Millions	3 Months Ended
	Nov. 26, 2022 USD ($) $ / shares shares
Units
Non-vested at beginning of period (in shares) | shares	255,023
Granted (in shares) | shares	50,629
Vested (in shares) | shares	(72,452)
Forfeited (in shares) | shares	(20,338)
Non-vested at end of period (in shares) | shares	212,862
Weighted average grant-date fair value
Non-vested at beginning of period (in dollars per share) | $ / shares	$ 32.82
Granted (in dollars per share) | $ / shares	62.55
Vested (in dollars per share) | $ / shares	27.39
Forfeited (in dollars per share) | $ / shares	27.39
Non-vested at end of period (in dollars per share) | $ / shares	$ 42.25
Additional disclosures
Period for recognition of unrecognized compensation cost	1 year 8 months 12 days
Unrecognized compensation costs | $	$ 6
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)	3 Months Ended
	Nov. 26, 2022 $ / shares shares
Additional disclosures
Award vesting period	2 years
Award expiration period	5 years
Stock Appreciation Rights (SARs)
Shares
Outstanding at beginning of period (in shares) | shares	150,000
Granted (in shares) | shares	150,000
Exercised (in shares) | shares	(150,000)
Forfeited (in shares) | shares	0
Outstanding at end of period (in shares) | shares	150,000
Weighted average exercise price
Outstanding at beginning of period (in dollars per share) | $ / shares	$ 24.20
Granted (in dollars per share) | $ / shares	37.67
Exercised (in dollars per share) | $ / shares	24.20
Forfeited (in dollars per share) | $ / shares	0
Outstanding at end of period (in dollars per share) | $ / shares	$ 37.67

Restructuring and Related Cha_2

Restructuring and Related Charges (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 26, 2022	Nov. 27, 2021
Restructuring and Related Charges
Gain on termination of lease	$ 0	$ (30)
Restructuring incurred cost	0
Aggregate restructuring costs	$ 9,900