The Simply Good Foods Company (SMPL) 10-Q 5 Apr 23 2023 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Feb. 25, 2023	Mar. 30, 2023
Document Information [Line Items]
Entity Central Index Key	0001702744
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Feb. 25, 2023
Document Fiscal Period Focus	Q2
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		99,512,880
Document Transition Report	false
Amendment Flag	false
Document Fiscal Year Focus	2023

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Feb. 25, 2023	Aug. 27, 2022
Current assets:
Cash	$ 63,207	$ 67,494
Accounts receivable, net	148,250	132,667
Inventories	114,008	125,479
Prepaid expenses	7,173	5,027
Other current assets	27,005	20,934
Total current assets	359,643	351,601
Long-term assets:
Property and equipment, net	17,211	18,157
Intangible assets, net	1,115,507	1,123,258
Goodwill	543,134	543,134
Other long-term assets	53,184	58,099
Total assets	2,088,679	2,094,249
Current liabilities:
Accounts payable	59,400	62,149
Accrued interest	172	160
Accrued expenses and other current liabilities	20,591	39,675
Current maturities of long-term debt	240	264
Total current liabilities	80,403	102,248
Long-term liabilities:
Long-term debt, less current maturities	362,622	403,022
Deferred income taxes	112,411	105,676
Other long-term liabilities	41,328	44,639
Total liabilities	596,764	655,585
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, 101,873,171 and 101,322,834 shares issued at February 25, 2023 and August 27, 2022, respectively	1,019	1,013
Treasury stock, 2,365,100 shares and 1,818,754 shares at cost at February 25, 2023 and August 27, 2022, respectively	(78,451)	(62,003)
Additional paid-in-capital	1,295,584	1,287,224
Retained earnings	275,883	214,381
Accumulated other comprehensive loss	(2,120)	(1,951)
Total stockholders’ equity	1,491,915	1,438,664
Total liabilities and stockholders’ equity	$ 2,088,679	$ 2,094,249

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares	Feb. 25, 2023	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)	101,873,171	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		6 Months Ended
	Feb. 25, 2023	Feb. 26, 2022	Feb. 25, 2023	Feb. 26, 2022
Income Statement [Abstract]
Net sales	$ (296,584)	$ (296,718)	$ (597,462)	$ (577,983)
Cost of goods sold	193,852	188,195	383,738	352,905
Gross profit	102,732	108,523	213,724	225,078
Operating expenses:
Selling and marketing	29,948	31,955	58,482	62,482
General and administrative	25,934	26,288	51,575	49,990
Depreciation and amortization	4,345	4,329	8,672	8,649
Total operating expenses	60,227	62,572	118,729	121,121
Income from operations	42,505	45,951	94,995	103,957
Other income (expense):
Interest income	246	0	253	1
Interest expense	(8,497)	(5,276)	(15,552)	(11,647)
Loss in fair value change of warrant liability	0	(12,745)	0	(30,062)
(Loss) gain on foreign currency transactions	(214)	780	(106)	427
Other income	0	0	6	9
Total other expense	(8,465)	(17,241)	(15,399)	(41,272)
Income before income taxes	34,040	28,710	79,596	62,685
Income tax expense	8,398	10,249	18,094	23,072
Net income	25,642	18,461	61,502	39,613
Other comprehensive income:
Foreign currency translation, net of reclassification adjustments	53	(708)	(169)	(748)
Comprehensive income	$ 25,695	$ 17,753	$ 61,333	$ 38,865
Earnings per share from net income:
Basic (in dollars per share)	$ 0.26	$ 0.19	$ 0.62	$ 0.41
Diluted (in dollars per share)	$ 0.25	$ 0.18	$ 0.61	$ 0.40
Weighted average shares outstanding:
Basic (in shares)	99,495,657	98,599,271	99,346,439	97,228,058
Diluted (in shares)	100,840,887	100,414,770	100,802,169	99,152,961

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Feb. 25, 2023	Feb. 26, 2022
Operating activities
Net income	$ 61,502	$ 39,613
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	9,904	9,572
Amortization of deferred financing costs and debt discount	1,219	1,332
Stock compensation expense	6,332	5,697
Change in fair value change of warrant liability	0	30,062
Estimated credit losses	219	(5)
Unrealized loss (gain) on foreign currency transactions	106	(427)
Deferred income taxes	6,845	11,814
Amortization of operating lease right-of-use asset	3,330	3,293
Gain on termination of lease	0	(30)
Other	118	571
Changes in operating assets and liabilities:
Accounts receivable, net	(15,899)	(6,880)
Inventories	11,063	(24,241)
Prepaid expenses	(2,145)	(1,695)
Other current assets	(4,096)	(29,211)
Accounts payable	(2,359)	6,109
Accrued interest	12	120
Accrued expenses and other current liabilities	(19,583)	(12,098)
Other assets and liabilities	(3,222)	(3,273)
Net cash provided by operating activities	53,346	30,323
Investing activities
Purchases of property and equipment	(1,738)	(4,339)
Issuance of note receivable	0	1,500
Investments in intangible and other assets	(195)	(187)
Net cash used in investing activities	(1,933)	(6,026)
Financing activities
Proceeds from option exercises	4,791	1,474
Tax payments related to issuance of restricted stock units and performance stock units	(2,401)	(3,289)
Payments on finance lease obligations	(151)	(157)
Repurchase of common stock	(16,448)	(20,394)
Principal payments of long-term debt	(41,500)	(25,000)
Deferred financing costs	0	(544)
Net cash used in financing activities	(55,709)	(47,910)
Net decrease in cash	(4,296)	(23,613)
Cash and cash equivalents
Effect of exchange rate on cash	9	(263)
Cash at beginning of period	67,494	75,345
Cash and cash equivalents at end of period	63,207	51,469
Supplemental disclosures of cash flow information
Cash paid for interest	14,321	10,195
Cash paid for taxes	15,747	33,162
Stock Issued	0	189,897
Operating lease right-of-use assets exchanged for operating lease liabilities	0	5,551
Non-cash credits for repayment of note receivable	$ 78	$ 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
Treasury Stock, Value			$ (2,145)
Additional paid-in-capital				$ 1,085,001
Common stock, $0.01 par value, 600,000,000 shares authorized, 101,873,171 and 101,322,834 shares issued at February 25, 2023 and August 27, 2022, respectively		$ 959
Accumulated other comprehensive loss						$ (818)
Retained earnings					$ 105,807
Beginning balance at Aug. 28, 2021	$ 1,188,804
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
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, 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
Beginning balance at Aug. 28, 2021	1,188,804
Beginning balance (in shares) at Aug. 28, 2021		95,882,908
Beginning balance, Treasury (in shares) at Aug. 28, 2021			98,234
Net income	$ 39,613
Repurchase of common stock (in shares)	571,271
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
Treasury Stock, Value			$ (2,145)
Additional paid-in-capital				1,084,690
Common stock, $0.01 par value, 600,000,000 shares authorized, 101,873,171 and 101,322,834 shares issued at February 25, 2023 and August 27, 2022, respectively		$ 961
Accumulated other comprehensive loss						(858)
Retained earnings					126,959
Beginning balance at Nov. 27, 2021	1,209,607
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
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax	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
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
Warrant conversion	189,897	$ 48		189,849
Warrant conversion (in shares)		4,830,761
Treasury Stock, Value			$ (22,539)
Additional paid-in-capital				1,278,728
Common stock, $0.01 par value, 600,000,000 shares authorized, 101,873,171 and 101,322,834 shares issued at February 25, 2023 and August 27, 2022, respectively		$ 1,011
Accumulated other comprehensive loss						(1,566)
Retained earnings					145,420
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, 101,873,171 and 101,322,834 shares issued at February 25, 2023 and August 27, 2022, respectively	1,013	$ 1,013
Accumulated other comprehensive loss	(1,951)					(1,951)
Retained earnings	214,381				214,381
Beginning balance at Aug. 27, 2022	$ 1,438,664
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
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax	(222)					(222)
Treasury Stock, Value, Acquired, Cost Method	(16,448)		$ (16,448)
Repurchase of common stock (in shares)			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
Ending balance at Nov. 26, 2022	1,463,356
Beginning balance at Aug. 27, 2022	$ 1,438,664
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	$ 61,502
Repurchase of common stock (in shares)	546,346
Ending balance (in shares) at Feb. 25, 2023		101,873,171
Ending balance, Treasury (in shares) at Feb. 25, 2023	2,365,100		2,365,100
Ending balance at Feb. 25, 2023	$ 1,491,915
Treasury Stock, Value			$ (78,451)
Additional paid-in-capital				1,292,720
Common stock, $0.01 par value, 600,000,000 shares authorized, 101,873,171 and 101,322,834 shares issued at February 25, 2023 and August 27, 2022, respectively		$ 1,019
Accumulated other comprehensive loss						(2,173)
Retained earnings					250,241
Beginning balance at Nov. 26, 2022	1,463,356
Beginning balance (in shares) at Nov. 26, 2022		101,856,457
Beginning balance, Treasury (in shares) at Nov. 26, 2022			2,365,100
Net income	25,642				25,642
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	2,739			2,739
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax	53					53
Shares issued upon vesting of Restricted Stock Units	(103)	$ 0		(103)
Shares issued upon vesting of Restricted Stock Units (in shares)		4,584
Exercise of options to purchase common stock	$ 228	$ 0		228
Exercise of options to purchase common stock (in shares)		12,130
Ending balance (in shares) at Feb. 25, 2023		101,873,171
Ending balance, Treasury (in shares) at Feb. 25, 2023	2,365,100		2,365,100
Ending balance at Feb. 25, 2023	$ 1,491,915
Treasury Stock, Value	78,451		$ (78,451)
Additional paid-in-capital	1,295,584			$ 1,295,584
Common stock, $0.01 par value, 600,000,000 shares authorized, 101,873,171 and 101,322,834 shares issued at February 25, 2023 and August 27, 2022, respectively	1,019	$ 1,019
Accumulated other comprehensive loss	(2,120)					$ (2,120)
Retained earnings	$ 275,883				$ 275,883

Nature of Operations and Princi

Nature of Operations and Principles of Consolidation	6 Months Ended
	Feb. 25, 2023
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 Consolidated Financial Statements The unaudited interim 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 (“ASU 2020-04”), which provides optional guidance for a limited period of time to ease the potential burden in accounting for reference rate reform on financial reporting. Additionally, in December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848), Deferral of the Sunset Date of Topic 848, which extended the period of time for which ASU 2020-04 could be applied. As a result, the amendments in ASU 2020-04 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, 2024. The amendments of these ASUs are effective for all entities and 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, 2024. 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 Twenty-Six Weeks Ended (In thousands) February 25, 2023 February 26, 2022 February 25, 2023 February 26, 2022 North America (1) Atkins $ 134,351 $ 135,582 $ 266,096 $ 269,376 Quest 154,598 152,573 316,070 290,867 Total North America 288,949 288,155 582,166 560,243 International 7,635 8,563 15,296 17,740 Total net sales $ 296,584 $ 296,718 $ 597,462 $ 577,983 (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 $0.4 million and $0.2 million for the thirteen and twenty-six weeks ended February 25, 2023, respectively. Charges related to credit loss on accounts receivables from transactions with external customers were immaterial for the thirteen and twenty-six weeks ended February 26, 2022. As of February 25, 2023 and August 27, 2022, the allowances for doubtful accounts related to these accounts receivable were $1.8 million and $1.2 million, respectively. Additionally, as of February 25, 2023, 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	6 Months Ended
	Feb. 25, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangibles	As of February 25, 2023 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 and twenty-six weeks ended February 25, 2023 or since the inception of the Company. Intangible assets, net in the Consolidated Balance Sheets consists of the following: February 25, 2023 (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 47,503 126,497 Licensing agreements 13 years 22,000 9,540 12,460 Proprietary recipes and formulas 7 years 7,000 5,631 1,369 Software and website development costs 3 - 5 years 5,863 4,793 1,070 Intangible assets in progress 3 - 5 years 111 — 111 $ 1,182,974 $ 67,467 $ 1,115,507 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 twenty-six weeks ended February 25, 2023 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 February 25, 2023 and February 26, 2022, respectively, and $7.8 million and $7.9 million for the twenty-six weeks ended February 25, 2023 and February 26, 2022, respectively. There were no impairment charges related to intangible assets during the thirteen and twenty-six weeks ended February 25, 2023 and February 26, 2022. Estimated future amortization for each of the next five fiscal years and thereafter is as follows: (In thousands) Amortization Remainder of 2023 $ 7,792 2024 14,917 2025 13,522 2026 13,517 2027 13,517 2028 and thereafter 78,131 Total $ 141,396

Long-Term Debt and Line of Cred

Long-Term Debt and Line of Credit	6 Months Ended
	Feb. 25, 2023
Debt Disclosure [Abstract]
Debt Disclosure	On July 7, 2017, the Company (through certain of its subsidiaries) entered into 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 covenants as of February 25, 2023 and August 27, 2022, respectively. Long-term debt consists of the following: (In thousands) February 25, 2023 August 27, 2022 Term Facility (effective rate of 8.0% at February 25, 2023) $ 365,000 $ 406,500 Finance lease liabilities (effective rate of 5.6% at February 25, 2023) 264 406 Less: Deferred financing fees 2,402 3,620 Total debt 362,862 403,286 Less: Current finance lease liabilities 240 264 Long-term debt, net of deferred financing fees $ 362,622 $ 403,022 The Company is not required to make principal payments on the Term Facility over the twelve months following the period ended February 25, 2023. The outstanding balance of the Term Facility is due upon its maturity in July 2024. As of February 25, 2023, 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 February 25, 2023. 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 February 25, 2023 and August 27, 2022, 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	6 Months Ended
	Feb. 25, 2023
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 and twenty-six weeks ended February 26, 2022, 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 February 25, 2023 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 adjustments for the thirteen and twenty-six weeks ended February 26, 2022 were losses of $12.7 million and $30.1 million, respectively.

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: Twenty-Six Weeks Ended (In thousands) February 25, 2023 February 26, 2022 Income before income taxes $ 79,596 $ 62,685 Income tax expense $ 18,094 $ 23,072 Effective tax rate 22.7 % 36.8 % The effective tax rate for the twenty-six weeks ended February 25, 2023 was 14.1% less than the effective tax rate for the twenty-six weeks ended February 26, 2022, 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 Twenty-Six Weeks Ended (In thousands) Statements of Operations Caption February 25, 2023 February 26, 2022 February 25, 2023 February 26, 2022 Operating lease cost: Lease cost Cost of goods sold and $ 2,248 $ 2,273 $ 4,500 $ 4,528 Variable lease cost (1) Cost of goods sold and 780 860 1,518 1,513 Total operating lease cost 3,028 3,133 6,018 6,041 Finance lease cost: Amortization of right-of-use assets Cost of goods sold 63 68 131 136 Interest on lease liabilities Interest expense 4 8 9 17 Total finance lease cost 67 76 140 153 Total lease cost $ 3,095 $ 3,209 $ 6,158 $ 6,194 (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 February 25, 2023 August 27, 2022 Assets Operating lease right-of-use assets Other long-term assets $ 43,132 $ 46,460 Finance lease right-of-use assets Property and equipment, net 235 367 Total lease assets $ 43,367 $ 46,827 Liabilities Current: Operating lease liabilities Accrued expenses and other current liabilities $ 7,238 $ 6,249 Finance lease liabilities Current maturities of long-term debt 240 264 Long-term: Operating lease liabilities Other long-term liabilities 40,814 44,482 Finance lease liabilities Long-term debt, less current maturities 24 142 Total lease liabilities $ 48,316 $ 51,137 Future maturities of lease liabilities as of February 25, 2023 were as follows: (In thousands) Operating Leases Finance Leases Fiscal year ending: Remainder of 2023 4,603 127 2024 9,424 145 2025 8,680 — 2026 6,880 — 2027 7,036 — Thereafter 19,848 — Total lease payments 56,471 272 Less: Interest (8,419) (8) Present value of lease liabilities $ 48,052 $ 264 The weighted-average remaining lease terms and weighted-average discount rates for operating and finance leases were as follows: February 25, 2023 August 27, 2022 Weighted-average remaining lease term (in years) Operating leases 6.89 7.27 Finance leases 1.08 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: Twenty-Six Weeks Ended (In thousands) February 25, 2023 February 26, 2022 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 4,957 $ 4,990 Operating cash flows from finance leases $ 239 $ 281 Financing cash flows from finance leases $ 151 $ 157
Lessee, Finance Leases	The components of lease expense were as follows: Thirteen Weeks Ended Twenty-Six Weeks Ended (In thousands) Statements of Operations Caption February 25, 2023 February 26, 2022 February 25, 2023 February 26, 2022 Operating lease cost: Lease cost Cost of goods sold and $ 2,248 $ 2,273 $ 4,500 $ 4,528 Variable lease cost (1) Cost of goods sold and 780 860 1,518 1,513 Total operating lease cost 3,028 3,133 6,018 6,041 Finance lease cost: Amortization of right-of-use assets Cost of goods sold 63 68 131 136 Interest on lease liabilities Interest expense 4 8 9 17 Total finance lease cost 67 76 140 153 Total lease cost $ 3,095 $ 3,209 $ 6,158 $ 6,194 (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 February 25, 2023 August 27, 2022 Assets Operating lease right-of-use assets Other long-term assets $ 43,132 $ 46,460 Finance lease right-of-use assets Property and equipment, net 235 367 Total lease assets $ 43,367 $ 46,827 Liabilities Current: Operating lease liabilities Accrued expenses and other current liabilities $ 7,238 $ 6,249 Finance lease liabilities Current maturities of long-term debt 240 264 Long-term: Operating lease liabilities Other long-term liabilities 40,814 44,482 Finance lease liabilities Long-term debt, less current maturities 24 142 Total lease liabilities $ 48,316 $ 51,137 Future maturities of lease liabilities as of February 25, 2023 were as follows: (In thousands) Operating Leases Finance Leases Fiscal year ending: Remainder of 2023 4,603 127 2024 9,424 145 2025 8,680 — 2026 6,880 — 2027 7,036 — Thereafter 19,848 — Total lease payments 56,471 272 Less: Interest (8,419) (8) Present value of lease liabilities $ 48,052 $ 264 The weighted-average remaining lease terms and weighted-average discount rates for operating and finance leases were as follows: February 25, 2023 August 27, 2022 Weighted-average remaining lease term (in years) Operating leases 6.89 7.27 Finance leases 1.08 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: Twenty-Six Weeks Ended (In thousands) February 25, 2023 February 26, 2022 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 4,957 $ 4,990 Operating cash flows from finance leases $ 239 $ 281 Financing cash flows from finance leases $ 151 $ 157

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Feb. 25, 2023
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 February 25, 2023, the Company will be required to make payments of $3.3 million over the next year.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Feb. 25, 2023
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 twenty-six weeks ended February 25, 2023, 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 February 25, 2023. During the thirteen and twenty-six weeks ended February 26, 2022, the Company repurchased 571,271 shares of common stock at an average share price of $35.68 per share. As of February 25, 2023, approximately $71.5 million remained available under the stock repurchase program. Warrants to Purchase Common Stock During the thirteen and twenty-six weeks ended February 26, 2022, 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 February 25, 2023 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	6 Months Ended
	Feb. 25, 2023
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 Twenty-Six Weeks Ended (In thousands, except per share data) February 25, 2023 February 26, 2022 February 25, 2023 February 26, 2022 Basic earnings per share computation: Numerator: Net income available to common stockholders $ 25,642 $ 18,461 $ 61,502 $ 39,613 Denominator: Weighted average common shares outstanding - basic 99,495,657 98,599,271 99,346,439 97,228,058 Basic earnings per share from net income $ 0.26 $ 0.19 $ 0.62 $ 0.41 Diluted earnings per share computation: Numerator: Net income available for common stockholders $ 25,642 $ 18,461 $ 61,502 $ 39,613 Numerator for diluted earnings per share $ 25,642 $ 18,461 $ 61,502 $ 39,613 Denominator: Weighted average common shares outstanding - basic 99,495,657 98,599,271 99,346,439 97,228,058 Employee stock options 1,227,507 1,640,199 1,270,406 1,645,793 Non-vested stock units 117,723 175,300 185,324 279,110 Weighted average common shares - diluted 100,840,887 100,414,770 100,802,169 99,152,961 Diluted earnings per share from net income $ 0.25 $ 0.18 $ 0.61 $ 0.40 Diluted earnings per share calculations for the thirteen and twenty-six weeks ended February 25, 2023 excluded 0.6 million and 0.5 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 twenty-six weeks ended February 26, 2022 excluded 0.3 million and 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 twenty-six weeks ended February 25, 2023 excluded 0.1 million non-vested stock units and 0.1 million non-vested stock units, respectively, that would have been anti-dilutive. Diluted earnings per share calculations for the thirteen and twenty-six weeks ended February 26, 2022 excluded 0.1 million and 0.1 million of non-vested stock units, respectively, that would have been anti-dilutive. The diluted earnings per share calculations for the thirteen and twenty-six weeks ended February 26, 2022 excluded 0.9 million shares and 1.5 million shares issuable upon exercise of Private Warrants, respectively, that would have been anti-dilutive.

Omnibus Incentive Plan

Omnibus Incentive Plan	6 Months Ended
	Feb. 25, 2023
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. Stock Options The following table summarizes stock option activity for the twenty-six weeks ended February 25, 2023: 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 (326,561) 14.67 Forfeited (20,009) 31.33 Outstanding as of February 25, 2023 2,564,982 $ 19.45 5.86 Vested and expected to vest as of February 25, 2023 2,564,982 $ 19.45 5.86 Exercisable as of February 25, 2023 2,054,267 $ 15.62 5.16 As of February 25, 2023, 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 1.7 years. During the twenty-six weeks ended February 25, 2023 and February 26, 2022, the Company received $4.8 million and $1.5 million in cash from stock option exercises, respectively. Restricted Stock Units The following table summarizes restricted stock unit activity for the twenty-six weeks ended February 25, 2023: Units Weighted average Non-vested as of August 27, 2022 453,003 $ 30.68 Granted 264,992 37.16 Vested (175,301) 27.23 Forfeited (44,662) 33.66 Non-vested as of February 25, 2023 498,032 $ 35.08 As of February 25, 2023, the Company had $13.3 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 twenty-six weeks ended February 25, 2023, the Company granted performance stock units under its 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 twenty-six weeks ended February 25, 2023: 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 (37,241) 31.00 Non-vested as of February 25, 2023 195,959 $ 42.85 As of February 25, 2023, the Company had $5.0 million of total unrecognized compensation cost related to performance stock units that will be recognized over a weighted average period of 1.5 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 February 25, 2023 cliff vest two years from the date of grant and must be exercised within five years. The following table summarizes SARs activity for the twenty-six weeks ended February 25, 2023: 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 February 25, 2023 150,000 $ 37.67

Restructuring and Related Charg

Restructuring and Related Charges	6 Months Ended
	Feb. 25, 2023
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 and twenty-six weeks ended February 25, 2023. In the thirteen and twenty-six weeks ended February 26, 2022, the Company incurred $0.1 million 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)	6 Months Ended
	Feb. 25, 2023
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 (“ASU 2020-04”), which provides optional guidance for a limited period of time to ease the potential burden in accounting for reference rate reform on financial reporting. Additionally, in December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848), Deferral of the Sunset Date of Topic 848, which extended the period of time for which ASU 2020-04 could be applied. As a result, the amendments in ASU 2020-04 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, 2024. The amendments of these ASUs are effective for all entities and 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, 2024. 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 Consolidated Financial Statements The unaudited interim 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)	6 Months Ended
	Feb. 25, 2023
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 Twenty-Six Weeks Ended (In thousands) February 25, 2023 February 26, 2022 February 25, 2023 February 26, 2022 North America (1) Atkins $ 134,351 $ 135,582 $ 266,096 $ 269,376 Quest 154,598 152,573 316,070 290,867 Total North America 288,949 288,155 582,166 560,243 International 7,635 8,563 15,296 17,740 Total net sales $ 296,584 $ 296,718 $ 597,462 $ 577,983 (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: February 25, 2023 (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 47,503 126,497 Licensing agreements 13 years 22,000 9,540 12,460 Proprietary recipes and formulas 7 years 7,000 5,631 1,369 Software and website development costs 3 - 5 years 5,863 4,793 1,070 Intangible assets in progress 3 - 5 years 111 — 111 $ 1,182,974 $ 67,467 $ 1,115,507 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: February 25, 2023 (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 47,503 126,497 Licensing agreements 13 years 22,000 9,540 12,460 Proprietary recipes and formulas 7 years 7,000 5,631 1,369 Software and website development costs 3 - 5 years 5,863 4,793 1,070 Intangible assets in progress 3 - 5 years 111 — 111 $ 1,182,974 $ 67,467 $ 1,115,507 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 $ 7,792 2024 14,917 2025 13,522 2026 13,517 2027 13,517 2028 and thereafter 78,131 Total $ 141,396

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) February 25, 2023 August 27, 2022 Term Facility (effective rate of 8.0% at February 25, 2023) $ 365,000 $ 406,500 Finance lease liabilities (effective rate of 5.6% at February 25, 2023) 264 406 Less: Deferred financing fees 2,402 3,620 Total debt 362,862 403,286 Less: Current finance lease liabilities 240 264 Long-term debt, net of deferred financing fees $ 362,622 $ 403,022

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Feb. 25, 2023
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: Twenty-Six Weeks Ended (In thousands) February 25, 2023 February 26, 2022 Income before income taxes $ 79,596 $ 62,685 Income tax expense $ 18,094 $ 23,072 Effective tax rate 22.7 % 36.8 %

Leases (Tables)

Leases (Tables)	6 Months Ended
	Feb. 25, 2023
Leases [Abstract]
Lease, Cost	The components of lease expense were as follows: Thirteen Weeks Ended Twenty-Six Weeks Ended (In thousands) Statements of Operations Caption February 25, 2023 February 26, 2022 February 25, 2023 February 26, 2022 Operating lease cost: Lease cost Cost of goods sold and $ 2,248 $ 2,273 $ 4,500 $ 4,528 Variable lease cost (1) Cost of goods sold and 780 860 1,518 1,513 Total operating lease cost 3,028 3,133 6,018 6,041 Finance lease cost: Amortization of right-of-use assets Cost of goods sold 63 68 131 136 Interest on lease liabilities Interest expense 4 8 9 17 Total finance lease cost 67 76 140 153 Total lease cost $ 3,095 $ 3,209 $ 6,158 $ 6,194 (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 February 25, 2023 August 27, 2022 Assets Operating lease right-of-use assets Other long-term assets $ 43,132 $ 46,460 Finance lease right-of-use assets Property and equipment, net 235 367 Total lease assets $ 43,367 $ 46,827 Liabilities Current: Operating lease liabilities Accrued expenses and other current liabilities $ 7,238 $ 6,249 Finance lease liabilities Current maturities of long-term debt 240 264 Long-term: Operating lease liabilities Other long-term liabilities 40,814 44,482 Finance lease liabilities Long-term debt, less current maturities 24 142 Total lease liabilities $ 48,316 $ 51,137
Finance Lease, Liability, Maturity	Future maturities of lease liabilities as of February 25, 2023 were as follows: (In thousands) Operating Leases Finance Leases Fiscal year ending: Remainder of 2023 4,603 127 2024 9,424 145 2025 8,680 — 2026 6,880 — 2027 7,036 — Thereafter 19,848 — Total lease payments 56,471 272 Less: Interest (8,419) (8) Present value of lease liabilities $ 48,052 $ 264
Lessee, Operating Lease, Liability, Maturity	Future maturities of lease liabilities as of February 25, 2023 were as follows: (In thousands) Operating Leases Finance Leases Fiscal year ending: Remainder of 2023 4,603 127 2024 9,424 145 2025 8,680 — 2026 6,880 — 2027 7,036 — Thereafter 19,848 — Total lease payments 56,471 272 Less: Interest (8,419) (8) Present value of lease liabilities $ 48,052 $ 264
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: February 25, 2023 August 27, 2022 Weighted-average remaining lease term (in years) Operating leases 6.89 7.27 Finance leases 1.08 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: Twenty-Six Weeks Ended (In thousands) February 25, 2023 February 26, 2022 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 4,957 $ 4,990 Operating cash flows from finance leases $ 239 $ 281 Financing cash flows from finance leases $ 151 $ 157

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 Twenty-Six Weeks Ended (In thousands, except per share data) February 25, 2023 February 26, 2022 February 25, 2023 February 26, 2022 Basic earnings per share computation: Numerator: Net income available to common stockholders $ 25,642 $ 18,461 $ 61,502 $ 39,613 Denominator: Weighted average common shares outstanding - basic 99,495,657 98,599,271 99,346,439 97,228,058 Basic earnings per share from net income $ 0.26 $ 0.19 $ 0.62 $ 0.41 Diluted earnings per share computation: Numerator: Net income available for common stockholders $ 25,642 $ 18,461 $ 61,502 $ 39,613 Numerator for diluted earnings per share $ 25,642 $ 18,461 $ 61,502 $ 39,613 Denominator: Weighted average common shares outstanding - basic 99,495,657 98,599,271 99,346,439 97,228,058 Employee stock options 1,227,507 1,640,199 1,270,406 1,645,793 Non-vested stock units 117,723 175,300 185,324 279,110 Weighted average common shares - diluted 100,840,887 100,414,770 100,802,169 99,152,961 Diluted earnings per share from net income $ 0.25 $ 0.18 $ 0.61 $ 0.40

Omnibus Incentive Plan (Tables)

Omnibus Incentive Plan (Tables)	6 Months Ended
	Feb. 25, 2023
Share-Based Payment Arrangement [Abstract]
Stock option activity	The following table summarizes stock option activity for the twenty-six weeks ended February 25, 2023: 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 (326,561) 14.67 Forfeited (20,009) 31.33 Outstanding as of February 25, 2023 2,564,982 $ 19.45 5.86 Vested and expected to vest as of February 25, 2023 2,564,982 $ 19.45 5.86 Exercisable as of February 25, 2023 2,054,267 $ 15.62 5.16
Restricted stock unit activity	The following table summarizes restricted stock unit activity for the twenty-six weeks ended February 25, 2023: Units Weighted average Non-vested as of August 27, 2022 453,003 $ 30.68 Granted 264,992 37.16 Vested (175,301) 27.23 Forfeited (44,662) 33.66 Non-vested as of February 25, 2023 498,032 $ 35.08
Performance stock unit activity	The following table summarizes performance stock unit activity for the twenty-six weeks ended February 25, 2023: 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 (37,241) 31.00 Non-vested as of February 25, 2023 195,959 $ 42.85
Stock appreciation right activity	The following table summarizes SARs activity for the twenty-six weeks ended February 25, 2023: 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 February 25, 2023 150,000 $ 37.67

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 25, 2023	Feb. 26, 2022	Feb. 25, 2023	Feb. 26, 2022
Disaggregation of revenue
Net sales	$ 296,584	$ 296,718	$ 597,462	$ 577,983
North America
Disaggregation of revenue
Net sales	288,949	288,155	582,166	560,243
International
Disaggregation of revenue
Net sales	7,635	8,563	15,296	17,740
Atkins | North America
Disaggregation of revenue
Net sales	134,351	135,582	266,096	269,376
Quest | North America
Disaggregation of revenue
Net sales	$ 154,598	$ 152,573	$ 316,070	$ 290,867

Revenue Recognition (Details 2)

Revenue Recognition (Details 2) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Feb. 25, 2023	Feb. 25, 2023	Aug. 27, 2022
Revenue from Contract with Customer [Abstract]
Allowance for doubtful accounts	$ 1,800	$ 1,800	$ 1,200
Accounts and Financing Receivable, Allowance for Credit Loss	1,000	1,000
Note Receivable from SimplyProtein Sale	3,000	3,000
Credit loss expense (reversal), accounts receivable	$ 400	$ 200

Goodwill Rollforward (Details)

Goodwill Rollforward (Details) - USD ($) $ in Thousands	Feb. 25, 2023	Aug. 27, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 543,134	$ 543,134

Goodwill Narrative (Details)

Goodwill Narrative (Details) $ in Thousands	Feb. 25, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill impairment charges	$ 0

Schedule of Intangible Assets (

Schedule of Intangible Assets (Details) - USD ($) $ in Thousands		6 Months Ended
	Aug. 27, 2022	Feb. 25, 2023
Intangible assets with finite lives:
Intangible assets, gross carrying amount	$ 1,182,863	$ 1,182,974
Finite-lived intangible assets, accumulated amortization	59,605	67,467
Intangible assets, net carrying amount	$ 1,123,258	1,115,507
Finite-lived intangible assets, net carrying amount		$ 141,396
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	47,503
Finite-lived intangible assets, net carrying amount	$ 132,297	$ 126,497
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	9,540
Finite-lived intangible assets, net carrying amount	$ 13,419	$ 12,460
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	5,631
Finite-lived intangible assets, net carrying amount	1,869	1,369
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	4,793
Finite-lived intangible assets, net carrying amount	$ 1,673	1,070
In Process Research and Development
Intangible assets with finite lives:
Finite-lived intangible assets, gross carrying amount		111
Finite-lived intangible assets, accumulated amortization		0
Finite-lived intangible assets, net carrying amount		$ 111
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		6 Months Ended
	Feb. 25, 2023	Feb. 26, 2022	Feb. 25, 2023	Feb. 26, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible asset amortization expense	$ 3.9	$ 4	$ 7.8	$ 7.9
Impairment of intangible assets, excluding goodwill			$ 0	$ 0

Estimated Future Amortization (

Estimated Future Amortization (Details) $ in Thousands	Feb. 25, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2023	$ 7,792
2024	14,917
2025	13,522
2026	13,517
2027	13,517
2028 and thereafter	78,131
Finite-lived intangible assets, net carrying amount	$ 141,396

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 ($)	Jul. 07, 2017 USD ($)	Feb. 25, 2023 USD ($)
Debt Instrument [Line Items]
Letters of Credit Outstanding, Amount				$ 3.5
Term Loan
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Effective Percentage				8%
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	Feb. 25, 2023	Aug. 27, 2022
Debt Disclosure [Abstract]
Term Facility (effective rate of 8.0% at February 25, 2023)	$ 365,000	$ 406,500
Finance lease liabilities (effective rate of 5.6% at February 25, 2023)	264	406
Less: Deferred financing fees	2,402	3,620
Total debt	362,862	403,286
Less: Current finance lease liabilities	(240)	(264)
Long-term debt, net of deferred financing fees	$ 362,622	$ 403,022

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 25, 2023	Feb. 26, 2022	Feb. 25, 2023	Feb. 26, 2022
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Change in fair value change of warrant liability	$ 0	$ 12,745	$ 0	$ 30,062
Private Warrants
Fair Value Disclosures [Abstract]
Warrants outstanding	0	6,700,000	0	6,700,000
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding	0	6,700,000	0	6,700,000
Change in fair value change of warrant liability		$ 12,700		$ 30,100

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 25, 2023	Feb. 26, 2022	Feb. 25, 2023	Feb. 26, 2022
Income Tax Disclosure [Abstract]
Income before income taxes	$ 34,040	$ 28,710	$ 79,596	$ 62,685
Income tax expense	$ 8,398	$ 10,249	$ 18,094	$ 23,072
Effective tax rate			22.70%	36.80%

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details)	6 Months Ended
	Feb. 25, 2023
Income Tax Disclosure [Abstract]
Effective tax rate difference	(14.10%)

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 25, 2023	Feb. 26, 2022	Feb. 25, 2023	Feb. 26, 2022	Aug. 27, 2022
Components of lease expense
Lease cost	$ 2,248	$ 2,273	$ 4,500	$ 4,528
Variable lease cost (1)	780	860	1,518	1,513
Total operating lease cost	3,028	3,133	6,018	6,041
Amortization of right-of-use assets	63	68	131	136
Interest on lease liabilities	4	8	9	17
Total finance lease cost	67	76	140	153
Total lease cost	3,095	$ 3,209	6,158	6,194
Assets and liabilities, lessee
Operating lease, right-of-use asset	43,132		43,132		$ 46,460
Finance lease, right-of-use asset	235		235		367
Total lease assets	43,367		43,367		46,827
Operating lease, liability, current	7,238		7,238		6,249
Finance lease, liability, current	240		240		264
Operating lease, liability, noncurrent	40,814		40,814		44,482
Finance lease, liability, noncurrent	24		24		142
Total lease liabilities	48,316		48,316		51,137
Future maturities of lease liabilities, operating leases
Remainder of 2023	4,603		4,603
2024	9,424		9,424
2025	8,680		8,680
2026	6,880		6,880
2027	7,036		7,036
Thereafter	19,848		19,848
Total lease payments	56,471		56,471
Less: Interest	(8,419)		(8,419)
Present value of lease liabilities	48,052		48,052
Future maturities of lease liabilities, finance leases
Remainder of 2023	127		127
2024	145		145
2025	0		0
2026	0		0
2027	0		0
Thereafter	0		0
Total lease payments	272		272
Less: Interest	(8)		(8)
Present value of lease liabilities	$ 264		$ 264		$ 406
Lessee, Lease, Description [Line Items]
Finance Lease, Weighted Average Discount Rate, Percent	5.60%		5.60%		5.60%
Finance Lease, Weighted Average Remaining Lease Term	1 year 29 days		1 year 29 days		1 year 6 months 3 days
Operating Lease, Weighted Average Discount Rate, Percent	4.70%		4.70%		4.70%
Operating Lease, Weighted Average Remaining Lease Term	6 years 10 months 20 days		6 years 10 months 20 days		7 years 3 months 7 days
Supplemental and other information related to leases
Operating cash flows from operating leases			$ 4,957	4,990
Operating cash flows from finance leases			239	281
Financing cash flows from finance leases			$ 151	$ 157

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Feb. 25, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Other commitment payment obligation	$ 3.3

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Nov. 26, 2022	Feb. 26, 2022	Feb. 25, 2023	Feb. 26, 2022	Oct. 21, 2022	Apr. 13, 2022	Jan. 07, 2022	Nov. 13, 2018
Class of Stock [Line Items]
Repurchase of common stock (in shares)			546,346	571,271
Stock repurchase program, remaining authorized repurchase amount			$ 71.5
Treasury Stock Acquired, Average Cost Per Share			$ 30.11	$ 35.68
Shares of common stock issued							4,830,761
Private Warrants
Class of Stock [Line Items]
Exercise price of warrants		$ 11.50		$ 11.50
Warrants outstanding		6,700,000	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	571,521

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Feb. 25, 2023	Nov. 26, 2022	Feb. 26, 2022	Nov. 27, 2021	Feb. 25, 2023	Feb. 26, 2022
Earnings per share, diluted
Weighted average common shares - basic	99,495,657		98,599,271		99,346,439	97,228,058
Basic earnings per share from net income (in dollars per share)	$ 0.26		$ 0.19		$ 0.62	$ 0.41
Weighted Average Number of Shares Outstanding, Diluted	100,840,887		100,414,770		100,802,169	99,152,961
Diluted earnings per share from net income (in dollars per share)	$ 0.25		$ 0.18		$ 0.61	$ 0.40
Net income	$ 25,642	$ 35,860	$ 18,461	$ 21,152	$ 61,502	$ 39,613
Numerator for diluted earnings per share	$ 25,642		$ 18,461		$ 61,502	$ 39,613
Employee stock options	1,227,507		1,640,199		1,270,406	1,645,793
Non-vested shares	117,723		175,300		185,324	279,110
Numerator:
Net income	$ 25,642	35,860	$ 18,461	21,152	$ 61,502	$ 39,613
Denominator:
Weighted average common shares - basic	99,495,657		98,599,271		99,346,439	97,228,058
Basic earnings per share from net income (in dollars per share)	$ 0.26		$ 0.19		$ 0.62	$ 0.41
Numerator:
Net income	$ 25,642	$ 35,860	$ 18,461	$ 21,152	$ 61,502	$ 39,613
Numerator for diluted earnings per share	$ 25,642		$ 18,461		$ 61,502	$ 39,613
Denominator:
Weighted average common shares - basic	99,495,657		98,599,271		99,346,439	97,228,058
Employee stock options	1,227,507		1,640,199		1,270,406	1,645,793
Non-vested shares	117,723		175,300		185,324	279,110
Weighted average common shares - diluted	100,840,887		100,414,770		100,802,169	99,152,961
Diluted earnings per share from net income (in dollars per share)	$ 0.25		$ 0.18		$ 0.61	$ 0.40
Private Warrants
Earnings per share, diluted
Antidilutive securities excluded from computation of earnings per share			900,000			1,500,000
Stock Options
Earnings per share, diluted
Antidilutive securities excluded from computation of earnings per share	600,000		300,000		500,000	300,000
Restricted Stock Units
Earnings per share, diluted
Antidilutive securities excluded from computation of earnings per share	100,000		100,000		100,000	100,000

Omnibus Incentive Plan (Details

Omnibus Incentive Plan (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 25, 2023	Feb. 26, 2022	Feb. 25, 2023	Feb. 26, 2022
Share-based Compensation Arrangement by Share-based Payment Award
Stock compensation expense	$ 3,000	$ 3,100	$ 6,332	$ 5,697

Omnibus Incentive Plan - Stock

Omnibus Incentive Plan - Stock Options Activity (Details) - USD ($) $ / shares in Units, $ in Thousands		6 Months Ended
	Aug. 27, 2022	Feb. 25, 2023	Feb. 26, 2022
Additional disclosures
Proceeds from option exercises		$ 4,791	$ 1,474
Stock Options
Shares
Outstanding at beginning of period (in shares)		2,776,551
Granted (in shares)		135,001
Exercised (in shares)		(326,561)
Forfeited (in shares)		(20,009)
Outstanding at end of period (in shares)	2,776,551	2,564,982
Options vested or expected to vest (in shares)		2,564,982
Exercisable (in shares)		2,054,267
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)		14.67
Forfeited (in dollars per share)		31.33
Outstanding at end of period (in dollars per share)	$ 18.04	19.45
Options vested or expected to vest (in dollars per share)		19.45
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	5 years 10 months 9 days
Vested and expected to vest at end of period, weighted average remaining contractual life		5 years 10 months 9 days
Exercisable at end of period, weighted average remaining contractual life		5 years 1 month 28 days
Additional disclosures
Unrecognized compensation costs		$ 5,000
Period for recognition of unrecognized compensation cost		1 year 8 months 12 days
Proceeds from option exercises		$ 4,800	$ 1,500

Omnibus Incentive Plan - Restri

Omnibus Incentive Plan - Restricted Stock Units Activity (Details) - Restricted Stock Units $ / shares in Units, $ in Millions	6 Months Ended
	Feb. 25, 2023 USD ($) $ / shares shares
Units
Non-vested at beginning of period (in shares) | shares	453,003
Granted (in shares) | shares	264,992
Vested (in shares) | shares	(175,301)
Forfeited (in shares) | shares	(44,662)
Non-vested at end of period (in shares) | shares	498,032
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	37.16
Vested (in dollars per share) | $ / shares	27.23
Forfeited (in dollars per share) | $ / shares	33.66
Non-vested at end of period (in dollars per share) | $ / shares	$ 35.08
Additional disclosures
Unrecognized compensation costs | $	$ 13.3
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	6 Months Ended
	Feb. 25, 2023 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	(37,241)
Non-vested at end of period (in shares) | shares	195,959
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	31
Non-vested at end of period (in dollars per share) | $ / shares	$ 42.85
Additional disclosures
Period for recognition of unrecognized compensation cost	1 year 6 months
Unrecognized compensation costs | $	$ 5
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) - Stock Appreciation Rights (SARs)	6 Months Ended
	Feb. 25, 2023 $ / shares shares
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
Additional disclosures
Award vesting period	2 years
Award expiration period	5 years

Restructuring and Related Cha_2

Restructuring and Related Charges (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Feb. 26, 2022	Feb. 25, 2023	Feb. 26, 2022
Restructuring and Related Charges
Restructuring incurred cost	$ 100	$ 0	$ 100
Aggregate restructuring costs		$ 9,900