The Simply Good Foods Company (SMPL) 10-Q 27 Jun 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	May 25, 2024	Jun. 24, 2024
Document Information [Line Items]
Entity Central Index Key	0001702744
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	May 25, 2024
Document Fiscal Period Focus	Q3
Entity File Number	001-38115
Entity Registrant Name	The Simply Good Foods Company
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-1038121
Entity Address, Address Line One	1225 17th Street, Suite 1000
Entity Address, City or Town	Denver
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80202
City Area Code	303
Local Phone Number	633-2840
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	SMPL
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Current Fiscal Year End Date	--08-31
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		100,135,854
Document Transition Report	false
Amendment Flag	false
Document Fiscal Year Focus	2024

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	May 25, 2024	Aug. 26, 2023
Current assets:
Cash	$ 208,681	$ 87,715
Accounts receivable, net	146,281	145,078
Inventories	105,921	116,591
Prepaid expenses	8,645	6,294
Other current assets	11,823	15,974
Total current assets	481,351	371,652
Long-term assets:
Property and equipment, net	22,037	24,861
Intangible assets, net	1,096,538	1,108,119
Goodwill	543,134	543,134
Other long-term assets	42,570	49,318
Total assets	2,185,630	2,097,084
Current liabilities:
Accounts payable	56,504	52,712
Accrued interest	1,372	1,940
Accrued expenses and other current liabilities	34,823	35,062
Current maturities of long-term debt	2	143
Total current liabilities	92,701	89,857
Long-term liabilities:
Long-term debt, less current maturities	237,661	281,649
Deferred income taxes	128,549	116,133
Other long-term liabilities	33,407	38,346
Total liabilities	492,318	525,985
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, 102,500,950 and 101,929,868 shares issued at May 25, 2024 and August 26, 2023, respectively	1,025	1,019
Treasury stock, 2,365,100 shares and 2,365,100 shares at cost at May 25, 2024 and August 26, 2023, respectively	(78,451)	(78,451)
Additional paid-in-capital	1,315,005	1,303,168
Retained earnings	457,974	347,956
Accumulated other comprehensive loss	(2,241)	(2,593)
Total stockholders’ equity	1,693,312	1,571,099
Total liabilities and stockholders’ equity	$ 2,185,630	$ 2,097,084

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares	May 25, 2024	Aug. 26, 2023
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)	102,500,950	101,929,868
Treasury Stock, Common, Shares	2,365,100	2,365,100

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 25, 2024	May 27, 2023	May 25, 2024	May 27, 2023
Income Statement [Abstract]
Net sales	$ (334,757)	$ (324,792)	$ (955,634)	$ (922,254)
Cost of goods sold	201,131	205,546	590,020	589,284
Gross profit	133,626	119,246	365,614	332,970
Operating expenses:
Selling and marketing	36,464	30,168	103,097	88,650
General and administrative	31,543	30,510	88,426	82,085
Depreciation and amortization	4,142	4,363	12,711	13,035
Business transaction costs	2,703	0	2,703	0
Total operating expenses	74,852	65,041	206,937	183,770
Income from operations	58,774	54,205	158,677	149,200
Other income (expense):
Interest income	881	407	2,895	660
Interest expense	(5,028)	(7,649)	(16,658)	(23,201)
(Loss) gain on foreign currency transactions	(12)	180	191	74
Other income	102	4	108	10
Total other expense	(4,057)	(7,058)	(13,464)	(22,457)
Income before income taxes	54,717	47,147	145,213
Income tax expense	13,383	11,716	35,195	29,810
Net income	41,334	35,431	110,018	96,933
Other comprehensive income:
Foreign currency translation, net of reclassification adjustments	95	(262)	352	(431)
Comprehensive income	$ 41,429	$ 35,169	$ 110,370	$ 96,502
Earnings per share from net income:
Basic (in dollars per share)	$ 0.41	$ 0.36	$ 1.10	$ 0.98
Diluted (in dollars per share)	$ 0.41	$ 0.35	$ 1.09	$ 0.96
Weighted average shares outstanding:
Basic (in shares)	100,024,230	99,518,546	99,852,203	99,404,174
Diluted (in shares)	101,270,163	100,909,972	101,240,471	100,847,970

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	May 25, 2024	May 27, 2023
Operating activities
Net income	$ 110,018	$ 96,933
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	15,871	15,044
Amortization of deferred financing costs and debt discount	1,213	2,011
Stock compensation expense	13,209	10,456
Estimated credit (gains) losses	(167)	206
Unrealized loss on foreign currency transactions	(191)	(74)
Deferred income taxes	12,416	11,696
Amortization of operating lease right-of-use asset	5,265	5,018
Other	2,329	759
Changes in operating assets and liabilities:
Accounts receivable, net	(716)	(13,334)
Inventories	9,423	19,444
Prepaid expenses	(2,309)	(745)
Other current assets	2,248	(1,595)
Accounts payable	3,370	(16,115)
Accrued interest	(568)	(117)
Accrued expenses and other current liabilities	(705)	(15,030)
Other assets and liabilities	(3,951)	(4,145)
Net cash provided by operating activities	166,755	110,412
Investing activities
Purchases of property and equipment	(1,838)	(10,108)
Investments in intangible and other assets	(507)	(338)
Net cash used in investing activities	(2,345)	(10,446)
Financing activities
Proceeds from option exercises	4,292	5,035
Tax payments related to issuance of restricted stock units and performance stock units	(4,818)	(2,755)
Payments on finance lease obligations	(143)	(217)
Proceeds from Other Debt	2,100	0
Repurchase of common stock	0	(16,448)
Principal payments of long-term debt	(45,000)	(81,500)
Deferred financing costs		(2,694)
Net cash used in financing activities	(43,569)	(98,579)
Net increase in cash	120,841	1,387
Cash and cash equivalents
Effect of exchange rate on cash	125	(87)
Cash at beginning of period	87,715	67,494
Cash and cash equivalents at end of period	208,681	68,794
Supplemental disclosures of cash flow information
Cash paid for interest	16,013	21,295
Cash paid for taxes	23,801	19,542
Non-cash credits for repayment of note receivable	564	221
Non-cash additions to intangible assets	0	120
Non-cash additions to property and equipment	$ 100	$ 0

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders Equity Statement - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock, Common
Treasury Stock, Value						$ (62,003)
Additional paid-in-capital			$ 1,287,224
Common stock, $0.01 par value, 600,000,000 shares authorized, 102,500,950 and 101,929,868 shares issued at May 25, 2024 and August 26, 2023, respectively		$ 1,013
Accumulated other comprehensive loss					$ (1,951)
Retained earnings				$ 214,381
Treasury Stock, Common, Shares						1,818,754
Beginning balance at Aug. 27, 2022	$ 1,438,664
Beginning balance (in shares) at Aug. 27, 2022		101,322,834
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 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
Net income	$ 96,933			96,933
Repurchase of common stock (in shares)	546,346
Ending balance (in shares) at May. 27, 2023		101,912,526
Ending balance at May. 27, 2023	$ 1,530,818
Treasury Stock, Value						$ (78,451)
Additional paid-in-capital			1,292,720
Common stock, $0.01 par value, 600,000,000 shares authorized, 102,500,950 and 101,929,868 shares issued at May 25, 2024 and August 26, 2023, respectively		$ 1,019
Accumulated other comprehensive loss					(2,173)
Retained earnings				250,241
Treasury Stock, Common, Shares						2,365,100
Beginning balance at Nov. 26, 2022	1,463,356
Beginning balance (in shares) at Nov. 26, 2022		101,856,457
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
Treasury Stock, Value, Acquired, Cost Method	0					$ 0
Repurchase of common stock (in shares)						0
Shares issued upon vesting of Restricted Stock Units	(103)		(103)
Shares issued upon vesting of Restricted Stock Units (in shares)		4,584
Exercise of options to purchase common stock	228		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 at Feb. 25, 2023	1,491,915
Treasury Stock, Value						$ (78,451)
Additional paid-in-capital			1,295,584
Common stock, $0.01 par value, 600,000,000 shares authorized, 102,500,950 and 101,929,868 shares issued at May 25, 2024 and August 26, 2023, respectively		$ 1,019
Accumulated other comprehensive loss					(2,120)
Retained earnings				275,883
Treasury Stock, Common, Shares						2,365,100
Net income	35,431			35,431
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	3,844		3,844
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax	0				(262)
Treasury Stock, Value, Acquired, Cost Method	(262)
Shares issued upon vesting of Restricted Stock Units	(354)		(355)
Shares issued upon vesting of Restricted Stock Units (in shares)		18,960
Exercise of options to purchase common stock	244	$ (1)	245
Exercise of options to purchase common stock (in shares)		20,395
Ending balance (in shares) at May. 27, 2023		101,912,526
Ending balance at May. 27, 2023	1,530,818
Treasury Stock, Value						$ (78,451)
Additional paid-in-capital			1,299,318
Common stock, $0.01 par value, 600,000,000 shares authorized, 102,500,950 and 101,929,868 shares issued at May 25, 2024 and August 26, 2023, respectively		$ 1,019
Accumulated other comprehensive loss					(2,382)
Retained earnings				311,314
Treasury Stock, Common, Shares						2,365,100
Treasury Stock, Value	78,451					$ (78,451)
Additional paid-in-capital	1,303,168		1,303,168
Common stock, $0.01 par value, 600,000,000 shares authorized, 102,500,950 and 101,929,868 shares issued at May 25, 2024 and August 26, 2023, respectively	1,019	$ 1,019
Accumulated other comprehensive loss	(2,593)				(2,593)
Retained earnings	$ 347,956			347,956
Treasury Stock, Common, Shares	2,365,100					2,365,100
Beginning balance at Aug. 26, 2023	$ 1,571,099
Beginning balance (in shares) at Aug. 26, 2023		101,929,868
Net income	35,561			35,561
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	3,888		3,888
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax	272				272
Treasury Stock, Value, Acquired, Cost Method	0					$ 0
Repurchase of common stock (in shares)						0
Shares issued upon vesting of Restricted Stock Units	(3,642)	$ 3	(3,645)
Shares issued upon vesting of Restricted Stock Units (in shares)		245,365
Exercise of options to purchase common stock	0	$ 0	0
Exercise of options to purchase common stock (in shares)		0
Ending balance (in shares) at Nov. 25, 2023		102,175,233
Ending balance at Nov. 25, 2023	1,607,178
Beginning balance at Aug. 26, 2023	1,571,099
Beginning balance (in shares) at Aug. 26, 2023		101,929,868
Net income	$ 110,018			110,018
Repurchase of common stock (in shares)	0
Ending balance (in shares) at May. 25, 2024		102,500,950
Ending balance at May. 25, 2024	$ 1,693,312
Treasury Stock, Value						$ (78,451)
Additional paid-in-capital			1,303,411
Common stock, $0.01 par value, 600,000,000 shares authorized, 102,500,950 and 101,929,868 shares issued at May 25, 2024 and August 26, 2023, respectively		$ 1,022
Accumulated other comprehensive loss					(2,321)
Retained earnings				383,517
Treasury Stock, Common, Shares						2,365,100
Beginning balance at Nov. 25, 2023	1,607,178
Beginning balance (in shares) at Nov. 25, 2023		102,175,233
Net income	33,123			33,123
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	4,288		4,288
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax	(15)				(15)
Treasury Stock, Value, Acquired, Cost Method	0					$ 0
Repurchase of common stock (in shares)						0
Shares issued upon vesting of Restricted Stock Units	(107)		(107)
Shares issued upon vesting of Restricted Stock Units (in shares)		5,285
Exercise of options to purchase common stock	3,015	$ 2	3,013
Exercise of options to purchase common stock (in shares)		173,100
Ending balance (in shares) at Feb. 24, 2024		102,353,618
Ending balance at Feb. 24, 2024	1,647,482
Treasury Stock, Value						$ (78,451)
Additional paid-in-capital			1,310,605
Common stock, $0.01 par value, 600,000,000 shares authorized, 102,500,950 and 101,929,868 shares issued at May 25, 2024 and August 26, 2023, respectively		$ 1,024
Accumulated other comprehensive loss					(2,336)
Retained earnings				416,640
Treasury Stock, Common, Shares						2,365,100
Net income	41,334			41,334
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	4,193		4,193
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax	95				95
Treasury Stock, Value, Acquired, Cost Method	0					$ 0
Repurchase of common stock (in shares)						0
Shares issued upon vesting of Restricted Stock Units	(1,070)		(1,070)
Shares issued upon vesting of Restricted Stock Units (in shares)		63,553
Exercise of options to purchase common stock	1,278	$ 1	1,277
Exercise of options to purchase common stock (in shares)		83,779
Ending balance (in shares) at May. 25, 2024		102,500,950
Ending balance at May. 25, 2024	1,693,312
Treasury Stock, Value	78,451					$ (78,451)
Additional paid-in-capital	1,315,005		$ 1,315,005
Common stock, $0.01 par value, 600,000,000 shares authorized, 102,500,950 and 101,929,868 shares issued at May 25, 2024 and August 26, 2023, respectively	1,025	$ 1,025
Accumulated other comprehensive loss	(2,241)				$ (2,241)
Retained earnings	$ 457,974			$ 457,974
Treasury Stock, Common, Shares	2,365,100					2,365,100

Nature of Operations and Princi

Nature of Operations and Principles of Consolidation	9 Months Ended
	May 25, 2024
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 Quest® and Atkins® 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: Quest® for consumers seeking a variety of protein-rich foods and beverages that also limit sugars and simple carbs and Atkins® for those following a low-carb lifestyle. 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 26, 2023, included in the Company’s Annual Report on Form 10-K (“Annual Report”) filed with the SEC on October 24, 2023.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	May 27, 2023
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 are 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. In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”), which updates reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses. The amendments are effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The amendments should be applied retrospectively to all prior periods presented in the financial statements. The Company is currently evaluating the provisions of the amendments and the effect on its future consolidated financial statements. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740), Improvements to Income Tax Disclosures (“ASU 2023-09”), which updates disclosures required in the footnotes to the financial statements to further aid investors in understanding how to analyze income tax reporting. The amendments are effective for fiscal years beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available. The amendments should be applied on a prospective basis, however, retrospective application is permitted. The Company is currently evaluating the provisions of the amendments and the effect on its future 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	9 Months Ended
	May 25, 2024
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 Thirty-Nine Weeks Ended (In thousands) May 25, 2024 May 27, 2023 May 25, 2024 May 27, 2023 North America (1) Atkins $ 128,602 $ 142,057 $ 370,855 $ 408,153 Quest 198,096 174,477 560,433 490,547 Total North America 326,698 316,534 931,288 898,700 International 8,059 8,258 24,346 23,554 Total net sales $ 334,757 $ 324,792 $ 955,634 $ 922,254 (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 losses on accounts receivable from transactions with external customers were immaterial and $(0.2) million for the thirteen and thirty-nine weeks ended May 25, 2024, respectively. Charges related to credit losses on accounts receivables from transactions with external customers were $0.2 million and $0.4 million for the thirteen and thirty-nine weeks ended May 27, 2023, respectively. As of May 25, 2024, and August 26, 2023, the allowance for credit losses related to accounts receivable was $0.6 million and $1.9 million, respectively.

Goodwill and Intangibles

Goodwill and Intangibles	9 Months Ended
	May 25, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangibles	As of May 25, 2024, and August 26, 2023, Goodwill in the Consolidated Balance Sheets was $543.1 million. There were no impairment charges related to goodwill during the thirteen and thirty-nine weeks ended May 25, 2024, or since the inception of the Company. Intangible assets, net in the Consolidated Balance Sheets consists of the following: May 25, 2024 (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 62,003 111,997 Licensing agreements 13 years 22,000 11,936 10,064 Proprietary recipes and formulas 7 years 7,000 6,881 119 Software and website development costs 3 - 5 years 4,909 4,909 — Intangible assets in progress 3 - 5 years 358 — 358 $ 1,182,267 $ 85,729 $ 1,096,538 August 26, 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 53,303 120,697 Licensing agreements 13 years 22,000 10,498 11,502 Proprietary recipes and formulas 7 years 7,000 6,131 869 Software and website development costs 3 - 5 years 6,328 5,356 972 Intangible assets in progress 3 - 5 years 79 — 79 $ 1,183,407 $ 75,288 $ 1,108,119 Changes in Intangible assets, net during the thirty-nine weeks ended May 25, 2024, were primarily related to recurring amortization expense. Amortization expense related to intangible assets was $3.7 million and $3.9 million for the thirteen weeks ended May 25, 2024, and May 27, 2023, respectively, and $11.4 million and $11.8 million for the thirty-nine weeks ended May 25, 2024, and May 27, 2023, respectively. During the thirteen weeks ended May 25, 2024, the Company conducted a quantitative impairment assessment over the Atkins brand indefinite lived intangible asset. Based on our testing, the asset had an excess fair value well over its respective carrying value, resulting in no impairment. There were no impairment charges related to its finite-lived intangible assets during the thirteen and thirty-nine weeks ended May 25, 2024 and May 27, 2023. Estimated future amortization for each of the next five fiscal years and thereafter is as follows: (In thousands) Amortization Remainder of 2024 $ 3,814 2025 13,517 2026 13,517 2027 13,517 2028 13,517 2029 and thereafter 64,298 Total $ 122,180

Long-Term Debt and Line of Cred

Long-Term Debt and Line of Credit	9 Months Ended
	May 25, 2024
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. On April 25, 2023, the Company entered into the “2023 Repricing Amendment” to the Credit Agreement. The 2023 Repricing Amendment, (i) reduced the interest rate per annum applicable to the Initial Term Loans outstanding under the Credit Agreement immediately prior to April 25, 2023, and (ii) provided for an extension of the maturity date of the Initial Term Loans from July 7, 2024, to March 17, 2027. The 2023 Repricing Amendment did not change the interest rate on the Revolving Credit Facility, which continues to bear interest based upon the Company’s consolidated net leverage ratio as of the end of the fiscal quarter for which consolidated financial statements are delivered to the Administrative Agent under the Credit Agreement. No additional debt was incurred, or any proceeds received by the Company in connection with the 2023 Repricing Amendment. No amounts under the Term Facility were repaid as a result of the execution of the 2023 Repricing Amendment. Effective as of the 2023 Repricing Amendment, the interest rate per annum for the Initial Term Loans 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) 1.50% 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) 2.50% margin for the Term Loan or (y) 3.00% margin for the Revolving Credit Facility. In connection with the closing of the 2023 Repricing Amendment, the Company expensed $2.4 million primarily for third-party fees and capitalized an additional $2.7 million primarily for the payment of upfront lender fees (original issue discount). 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 May 25, 2024 and August 26, 2023, respectively. Long-term debt consists of the following: (In thousands) May 25, 2024 August 26, 2023 Term Facility (effective rate of 7.9% at May 25, 2024) $ 240,000 $ 285,000 Finance lease liabilities (effective rate of 5.6% at May 25, 2024) 2 143 Less: Deferred financing fees 2,339 3,351 Total debt 237,663 281,792 Less: Current finance lease liabilities 2 143 Long-term debt, net of deferred financing fees $ 237,661 $ 281,649 The Company is not required to make principal payments on the Term Facility over the twelve months following the period ended May 25, 2024. The outstanding balance of the Term Facility is due upon its maturity in March 2027. As of May 25, 2024, the Company had letters of credit in the amount of $3.2 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 as of May 25, 2024. The Company utilizes market approaches to estimate the fair value of certain outstanding borrowings by discounting anticipated future cash flows derived from the contractual terms of the obligations and observable market interest and foreign exchange rates. The Company carries debt at historical cost and discloses fair value. As of May 25, 2024, and August 26, 2023, the book value of the Company’s debt approximated fair value. The estimated fair value of the Term Loan is valued based on observable inputs and classified as Level 2 in the fair value hierarchy.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	May 25, 2024
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. Components of the balance sheet such as accounts receivable, cash and cash equivalents and others approximated fair value as of May 25, 2024.

Income Taxes

Income Taxes	9 Months Ended
	May 25, 2024
Income Tax Disclosure [Abstract]
Income Taxes	The tax expense and the effective tax rate resulting from operations were as follows: Thirty-Nine Weeks Ended (In thousands) May 25, 2024 May 27, 2023 Income before income taxes $ 145,213 $ 126,743 Provision for income taxes $ 35,195 $ 29,810 Effective tax rate 24.2 % 23.5 % The effective tax rate for the thirty-nine weeks ended May 25, 2024, was 0.7% greater than the effective tax rate for the thirty-nine weeks ended May 27, 2023, which was primarily driven by permanent differences.

Leases

Leases	6 Months Ended
	Feb. 24, 2024
Leases [Abstract]
Lessee, Operating Leases	The components of lease expense were as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended (In thousands) Statements of Operations Caption May 25, 2024 May 27, 2023 May 25, 2024 May 27, 2023 Operating lease cost: Lease cost Cost of goods sold and General and administrative $ 2,256 $ 2,245 $ 6,770 $ 6,745 Variable lease cost (1) Cost of goods sold and General and administrative 1,049 1,047 2,799 2,565 Total operating lease cost 3,305 3,292 9,569 9,310 Finance lease cost: Amortization of right-of-use assets Cost of goods sold 18 58 123 189 Interest on lease liabilities Interest expense — 3 2 12 Total finance lease cost 18 61 125 201 Total lease cost $ 3,323 $ 3,353 $ 9,694 $ 9,511 (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 May 25, 2024 August 26, 2023 Assets Operating lease right-of-use assets Other long-term assets $ 34,756 $ 40,022 Finance lease right-of-use assets Property and equipment, net 2 125 Total lease assets $ 34,758 $ 40,147 Liabilities Current: Operating lease liabilities Accrued expenses and other current liabilities $ 7,770 $ 7,566 Finance lease liabilities Current maturities of long-term debt 2 143 Long-term: Operating lease liabilities Other long-term liabilities 31,492 37,272 Total lease liabilities $ 39,264 $ 44,981 Future maturities of lease liabilities as of May 25, 2024, were as follows: (In thousands) Operating Leases Finance Leases Fiscal year ending: Remainder of 2024 2,396 2 2025 8,750 — 2026 6,952 — 2027 7,110 — 2028 6,447 — Thereafter 13,496 — Total lease payments 45,151 2 Less: Interest (5,889) — Present value of lease liabilities $ 39,262 $ 2 The weighted-average remaining lease terms and weighted-average discount rates for operating and finance leases were as follows: May 25, 2024 August 26, 2023 Weighted-average remaining lease term (in years) Operating leases 5.77 6.24 Finance leases 0.17 0.61 Weighted-average discount rate Operating leases 4.5 % 4.4 % Finance leases 5.6 % 5.6 % Supplemental and other information related to leases was as follows: Thirty-Nine Weeks Ended (In thousands) May 25, 2024 May 27, 2023 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 9,141 $ 7,905 Operating cash flows from finance leases $ 539 $ 394 Financing cash flows from finance leases $ 143 $ 217
Lessee, Finance Leases	The components of lease expense were as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended (In thousands) Statements of Operations Caption May 25, 2024 May 27, 2023 May 25, 2024 May 27, 2023 Operating lease cost: Lease cost Cost of goods sold and General and administrative $ 2,256 $ 2,245 $ 6,770 $ 6,745 Variable lease cost (1) Cost of goods sold and General and administrative 1,049 1,047 2,799 2,565 Total operating lease cost 3,305 3,292 9,569 9,310 Finance lease cost: Amortization of right-of-use assets Cost of goods sold 18 58 123 189 Interest on lease liabilities Interest expense — 3 2 12 Total finance lease cost 18 61 125 201 Total lease cost $ 3,323 $ 3,353 $ 9,694 $ 9,511 (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 May 25, 2024 August 26, 2023 Assets Operating lease right-of-use assets Other long-term assets $ 34,756 $ 40,022 Finance lease right-of-use assets Property and equipment, net 2 125 Total lease assets $ 34,758 $ 40,147 Liabilities Current: Operating lease liabilities Accrued expenses and other current liabilities $ 7,770 $ 7,566 Finance lease liabilities Current maturities of long-term debt 2 143 Long-term: Operating lease liabilities Other long-term liabilities 31,492 37,272 Total lease liabilities $ 39,264 $ 44,981 Future maturities of lease liabilities as of May 25, 2024, were as follows: (In thousands) Operating Leases Finance Leases Fiscal year ending: Remainder of 2024 2,396 2 2025 8,750 — 2026 6,952 — 2027 7,110 — 2028 6,447 — Thereafter 13,496 — Total lease payments 45,151 2 Less: Interest (5,889) — Present value of lease liabilities $ 39,262 $ 2 The weighted-average remaining lease terms and weighted-average discount rates for operating and finance leases were as follows: May 25, 2024 August 26, 2023 Weighted-average remaining lease term (in years) Operating leases 5.77 6.24 Finance leases 0.17 0.61 Weighted-average discount rate Operating leases 4.5 % 4.4 % Finance leases 5.6 % 5.6 % Supplemental and other information related to leases was as follows: Thirty-Nine Weeks Ended (In thousands) May 25, 2024 May 27, 2023 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 9,141 $ 7,905 Operating cash flows from finance leases $ 539 $ 394 Financing cash flows from finance leases $ 143 $ 217

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	May 25, 2024
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 Quest® and Atkins® brands and product lines. These contracts contain endorsement fees, which are expensed ratably over the life of the contract, and performance fees, that are recognized at the time of achievement. Based on the terms of the contracts in place and achievement of performance conditions as of May 25, 2024, the Company will be required to make payments of $1.2 million over the next year.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	May 25, 2024
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. The Company did not repurchase any shares of common stock during the thirty-nine weeks ended May 25, 2024. During the thirty-nine weeks ended May 27, 2023, the Company repurchased 546,346 shares of common stock at an average share price of $30.11 per share. As of May 25, 2024, approximately $71.5 million remained available under the stock repurchase program.

Earnings Per Share

Earnings Per Share	9 Months Ended
	May 25, 2024
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 and non-vested stock units. 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 Thirty-Nine Weeks Ended (In thousands, except per share data) May 25, 2024 May 27, 2023 May 25, 2024 May 27, 2023 Basic earnings per share computation: Numerator: Net income available to common stockholders $ 41,334 $ 35,431 $ 110,018 $ 96,933 Denominator: Weighted average common shares outstanding - basic 100,024,230 99,518,546 99,852,203 99,404,174 Basic earnings per share from net income $ 0.41 $ 0.36 $ 1.10 $ 0.98 Diluted earnings per share computation: Numerator: Net income available for common stockholders $ 41,334 $ 35,431 $ 110,018 $ 96,933 Numerator for diluted earnings per share $ 41,334 $ 35,431 $ 110,018 $ 96,933 Denominator: Weighted average common shares outstanding - basic 100,024,230 99,518,546 99,852,203 99,404,174 Employee stock options 1,055,882 1,228,922 1,143,855 1,256,898 Non-vested stock units 190,051 162,504 244,413 186,898 Weighted average common shares - diluted 101,270,163 100,909,972 101,240,471 100,847,970 Diluted earnings per share from net income $ 0.41 $ 0.35 $ 1.09 $ 0.96 Diluted earnings per share calculations for the thirteen and thirty-nine weeks ended May 25, 2024 both excluded 0.8 million shares of common stock issuable upon exercise of stock options that would have been anti-dilutive. Diluted earnings per share calculations for the thirteen and thirty-nine weeks ended and May 27, 2023, excluded 0.7 million and 0.6 million shares of common stock issuable upon exercise of stock options, respectively, that would have been anti-dilutive. Diluted earnings per share calculations for the thirteen and thirty-nine weeks ended May 25, 2024 and May 27, 2023 excluded an immaterial number of non-vested stock units that would have been anti-dilutive, respectively.

Omnibus Incentive Plan

Omnibus Incentive Plan	9 Months Ended
	May 25, 2024
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 recipient’s other compensation is reported. The Company recorded stock-based compensation expense of $4.5 million and $4.1 million in the thirteen weeks ended May 25, 2024, and May 27, 2023, respectively, and $13.2 million and $10.5 million in the thirty-nine weeks ended May 25, 2024, and May 27, 2023, respectively. Stock Options The following table summarizes stock option activity for the thirty-nine weeks ended May 25, 2024: Shares underlying options Weighted average Weighted average remaining contractual life (years) Outstanding as of August 26, 2023 2,668,462 $ 20.41 5.56 Granted 17,633 33.02 Exercised (256,879) 16.71 Forfeited (9,954) 39.38 Outstanding as of May 25, 2024 2,419,262 $ 20.82 4.91 Vested and expected to vest as of May 25, 2024 2,419,262 $ 20.82 4.91 Exercisable as of May 25, 2024 1,934,142 $ 16.70 4.13 As of May 25, 2024, the Company had $3.1 million of total unrecognized compensation cost related to stock options that will be recognized over a weighted average period of 1.0 year. During the thirty-nine weeks ended May 25, 2024, and May 27, 2023, the Company received $4.3 million and $5.0 million in cash from stock option exercises, respectively. Restricted Stock Units The following table summarizes restricted stock unit activity for the thirty-nine weeks ended May 25, 2024: Units Weighted average Non-vested as of August 26, 2023 514,498 $ 35.59 Granted 251,100 36.82 Vested (251,841) 32.64 Forfeited (11,471) 38.77 Non-vested as of May 25, 2024 502,286 $ 37.61 As of May 25, 2024, the Company had $12.3 million of total unrecognized compensation cost related to restricted stock units that will be recognized over a weighted average period of 1.6 years. Performance Stock Units During the thirty-nine weeks ended May 25, 2024, 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 thirty-nine weeks ended May 25, 2024: Units Weighted average Non-vested as of August 26, 2023 191,779 $ 42.41 Granted 181,853 38.77 Vested (189,884) 21.52 Forfeited (1,008) 57.43 Non-vested as of May 25, 2024 182,740 $ 59.06 As of May 25, 2024, the Company had $5.9 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 May 25, 2024, cliff vest two years from the date of grant and must be exercised within five years. The following table summarizes SARs activity for the thirty-nine weeks ended May 25, 2024: Shares underlying SARs Weighted average Outstanding as of August 26, 2023 150,000 $ 37.67 Granted — — Exercised — — Forfeited — — Outstanding as of May 25, 2024 150,000 $ 37.67 The SARs exercised during the thirty-nine weeks ended May 27, 2023, resulted in a net issuance of 38,850 shares of the Company’s common stock. The SARs granted during the thirty-nine weeks ended May 27, 2023, are liability-classified; therefore the related stock-based compensation expense is based on the vesting provisions and the fair value of the awards.

Subsequent Events

Subsequent Events	9 Months Ended
	May 25, 2024
Subsequent Events [Abstract]
Subsequent Events	Only What You Need, Inc. Acquisition On April 29, 2024, the Company entered into a stock purchase agreement (the “Purchase Agreement”) to acquire Only What You Need, Inc. (“OWYN”), a plant-based protein food company (the “Acquisition”), for approximately $280.0 million. On June 13, 2024, pursuant to the Purchase Agreement, the Company completed the acquisition of OWYN for approximately $280.0 million, subject to certain customary adjustments for levels of cash, indebtedness, net working capital, purchase price adjustments and transaction related expenses as of the closing date. On June 13, 2024, the Company entered into a sixth amendment (the “2024 Incremental Facility Amendment”) to the Credit Agreement to increase the principal borrowed on the Term Facility by $250.0 million. The terms of the incremental borrowing are the same as the terms of the outstanding borrowings under the Term Facility. The 2024 Incremental Facility Amendment was executed to partially finance the acquisition of OWYN on June 13, 2024. No amounts under the Term Facility were repaid as a result of the execution of the 2024 Incremental Facility Amendment.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	May 25, 2024
Accounting Policies [Abstract]
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 26, 2023, included in the Company’s Annual Report on Form 10-K (“Annual Report”) filed with the SEC on October 24, 2023.
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 are 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. In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”), which updates reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses. The amendments are effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The amendments should be applied retrospectively to all prior periods presented in the financial statements. The Company is currently evaluating the provisions of the amendments and the effect on its future consolidated financial statements. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740), Improvements to Income Tax Disclosures (“ASU 2023-09”), which updates disclosures required in the footnotes to the financial statements to further aid investors in understanding how to analyze income tax reporting. The amendments are effective for fiscal years beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available. The amendments should be applied on a prospective basis, however, retrospective application is permitted. The Company is currently evaluating the provisions of the amendments and the effect on its future 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 (Tables)

Revenue Recognition (Tables)	9 Months Ended
	May 25, 2024
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 Thirty-Nine Weeks Ended (In thousands) May 25, 2024 May 27, 2023 May 25, 2024 May 27, 2023 North America (1) Atkins $ 128,602 $ 142,057 $ 370,855 $ 408,153 Quest 198,096 174,477 560,433 490,547 Total North America 326,698 316,534 931,288 898,700 International 8,059 8,258 24,346 23,554 Total net sales $ 334,757 $ 324,792 $ 955,634 $ 922,254 (1) The North America geographic area consists of net sales substantially related to the United States and there is no individual foreign country to which more than 10% of the Company’s net sales are attributed or that is otherwise deemed individually material.

Goodwill and Intangibles (Table

Goodwill and Intangibles (Tables)	9 Months Ended
	May 25, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	Intangible assets, net in the Consolidated Balance Sheets consists of the following: May 25, 2024 (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 62,003 111,997 Licensing agreements 13 years 22,000 11,936 10,064 Proprietary recipes and formulas 7 years 7,000 6,881 119 Software and website development costs 3 - 5 years 4,909 4,909 — Intangible assets in progress 3 - 5 years 358 — 358 $ 1,182,267 $ 85,729 $ 1,096,538 August 26, 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 53,303 120,697 Licensing agreements 13 years 22,000 10,498 11,502 Proprietary recipes and formulas 7 years 7,000 6,131 869 Software and website development costs 3 - 5 years 6,328 5,356 972 Intangible assets in progress 3 - 5 years 79 — 79 $ 1,183,407 $ 75,288 $ 1,108,119
Schedule of Indefinite-Lived Intangible Assets	Intangible assets, net in the Consolidated Balance Sheets consists of the following: May 25, 2024 (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 62,003 111,997 Licensing agreements 13 years 22,000 11,936 10,064 Proprietary recipes and formulas 7 years 7,000 6,881 119 Software and website development costs 3 - 5 years 4,909 4,909 — Intangible assets in progress 3 - 5 years 358 — 358 $ 1,182,267 $ 85,729 $ 1,096,538 August 26, 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 53,303 120,697 Licensing agreements 13 years 22,000 10,498 11,502 Proprietary recipes and formulas 7 years 7,000 6,131 869 Software and website development costs 3 - 5 years 6,328 5,356 972 Intangible assets in progress 3 - 5 years 79 — 79 $ 1,183,407 $ 75,288 $ 1,108,119
Estimated Future Amortization	Estimated future amortization for each of the next five fiscal years and thereafter is as follows: (In thousands) Amortization Remainder of 2024 $ 3,814 2025 13,517 2026 13,517 2027 13,517 2028 13,517 2029 and thereafter 64,298 Total $ 122,180

Long-Term Debt and Line of Cr_2

Long-Term Debt and Line of Credit (Tables)	9 Months Ended
	May 25, 2024
Debt Disclosure [Abstract]
Schedule of Debt	Long-term debt consists of the following: (In thousands) May 25, 2024 August 26, 2023 Term Facility (effective rate of 7.9% at May 25, 2024) $ 240,000 $ 285,000 Finance lease liabilities (effective rate of 5.6% at May 25, 2024) 2 143 Less: Deferred financing fees 2,339 3,351 Total debt 237,663 281,792 Less: Current finance lease liabilities 2 143 Long-term debt, net of deferred financing fees $ 237,661 $ 281,649

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	May 25, 2024
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	The tax expense and the effective tax rate resulting from operations were as follows: Thirty-Nine Weeks Ended (In thousands) May 25, 2024 May 27, 2023 Income before income taxes $ 145,213 $ 126,743 Provision for income taxes $ 35,195 $ 29,810 Effective tax rate 24.2 % 23.5 %

Leases (Tables)

Leases (Tables)	9 Months Ended
	May 25, 2024
Leases [Abstract]
Lease, Cost	The components of lease expense were as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended (In thousands) Statements of Operations Caption May 25, 2024 May 27, 2023 May 25, 2024 May 27, 2023 Operating lease cost: Lease cost Cost of goods sold and General and administrative $ 2,256 $ 2,245 $ 6,770 $ 6,745 Variable lease cost (1) Cost of goods sold and General and administrative 1,049 1,047 2,799 2,565 Total operating lease cost 3,305 3,292 9,569 9,310 Finance lease cost: Amortization of right-of-use assets Cost of goods sold 18 58 123 189 Interest on lease liabilities Interest expense — 3 2 12 Total finance lease cost 18 61 125 201 Total lease cost $ 3,323 $ 3,353 $ 9,694 $ 9,511 (1) Variable lease cost primarily consists of common area maintenance, such as cleaning and repairs.
Lease assets and liabilities	The right-of-use assets and corresponding liabilities related to both operating and finance leases are as follows: (In thousands) Balance Sheets Caption May 25, 2024 August 26, 2023 Assets Operating lease right-of-use assets Other long-term assets $ 34,756 $ 40,022 Finance lease right-of-use assets Property and equipment, net 2 125 Total lease assets $ 34,758 $ 40,147 Liabilities Current: Operating lease liabilities Accrued expenses and other current liabilities $ 7,770 $ 7,566 Finance lease liabilities Current maturities of long-term debt 2 143 Long-term: Operating lease liabilities Other long-term liabilities 31,492 37,272 Total lease liabilities $ 39,264 $ 44,981
Finance Lease, Liability, Maturity	Future maturities of lease liabilities as of May 25, 2024, were as follows: (In thousands) Operating Leases Finance Leases Fiscal year ending: Remainder of 2024 2,396 2 2025 8,750 — 2026 6,952 — 2027 7,110 — 2028 6,447 — Thereafter 13,496 — Total lease payments 45,151 2 Less: Interest (5,889) — Present value of lease liabilities $ 39,262 $ 2
Lessee, Operating Lease, Liability, Maturity	Future maturities of lease liabilities as of May 25, 2024, were as follows: (In thousands) Operating Leases Finance Leases Fiscal year ending: Remainder of 2024 2,396 2 2025 8,750 — 2026 6,952 — 2027 7,110 — 2028 6,447 — Thereafter 13,496 — Total lease payments 45,151 2 Less: Interest (5,889) — Present value of lease liabilities $ 39,262 $ 2
Schedule of Weighted Average Remaining Lease Terms	The weighted-average remaining lease terms and weighted-average discount rates for operating and finance leases were as follows: May 25, 2024 August 26, 2023 Weighted-average remaining lease term (in years) Operating leases 5.77 6.24 Finance leases 0.17 0.61 Weighted-average discount rate Operating leases 4.5 % 4.4 % Finance leases 5.6 % 5.6 %
Schedule of Supplemental Cash Flow Information Related to Leases	Supplemental and other information related to leases was as follows: Thirty-Nine Weeks Ended (In thousands) May 25, 2024 May 27, 2023 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 9,141 $ 7,905 Operating cash flows from finance leases $ 539 $ 394 Financing cash flows from finance leases $ 143 $ 217

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	May 25, 2024
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 Thirty-Nine Weeks Ended (In thousands, except per share data) May 25, 2024 May 27, 2023 May 25, 2024 May 27, 2023 Basic earnings per share computation: Numerator: Net income available to common stockholders $ 41,334 $ 35,431 $ 110,018 $ 96,933 Denominator: Weighted average common shares outstanding - basic 100,024,230 99,518,546 99,852,203 99,404,174 Basic earnings per share from net income $ 0.41 $ 0.36 $ 1.10 $ 0.98 Diluted earnings per share computation: Numerator: Net income available for common stockholders $ 41,334 $ 35,431 $ 110,018 $ 96,933 Numerator for diluted earnings per share $ 41,334 $ 35,431 $ 110,018 $ 96,933 Denominator: Weighted average common shares outstanding - basic 100,024,230 99,518,546 99,852,203 99,404,174 Employee stock options 1,055,882 1,228,922 1,143,855 1,256,898 Non-vested stock units 190,051 162,504 244,413 186,898 Weighted average common shares - diluted 101,270,163 100,909,972 101,240,471 100,847,970 Diluted earnings per share from net income $ 0.41 $ 0.35 $ 1.09 $ 0.96

Omnibus Incentive Plan (Tables)

Omnibus Incentive Plan (Tables)	9 Months Ended
	May 25, 2024
Share-Based Payment Arrangement [Abstract]
Stock option activity	The following table summarizes stock option activity for the thirty-nine weeks ended May 25, 2024: Shares underlying options Weighted average Weighted average remaining contractual life (years) Outstanding as of August 26, 2023 2,668,462 $ 20.41 5.56 Granted 17,633 33.02 Exercised (256,879) 16.71 Forfeited (9,954) 39.38 Outstanding as of May 25, 2024 2,419,262 $ 20.82 4.91 Vested and expected to vest as of May 25, 2024 2,419,262 $ 20.82 4.91 Exercisable as of May 25, 2024 1,934,142 $ 16.70 4.13
Restricted stock unit activity	The following table summarizes restricted stock unit activity for the thirty-nine weeks ended May 25, 2024: Units Weighted average Non-vested as of August 26, 2023 514,498 $ 35.59 Granted 251,100 36.82 Vested (251,841) 32.64 Forfeited (11,471) 38.77 Non-vested as of May 25, 2024 502,286 $ 37.61
Performance stock unit activity	The following table summarizes performance stock unit activity for the thirty-nine weeks ended May 25, 2024: Units Weighted average Non-vested as of August 26, 2023 191,779 $ 42.41 Granted 181,853 38.77 Vested (189,884) 21.52 Forfeited (1,008) 57.43 Non-vested as of May 25, 2024 182,740 $ 59.06
Stock appreciation right activity	The following table summarizes SARs activity for the thirty-nine weeks ended May 25, 2024: Shares underlying SARs Weighted average Outstanding as of August 26, 2023 150,000 $ 37.67 Granted — — Exercised — — Forfeited — — Outstanding as of May 25, 2024 150,000 $ 37.67

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 25, 2024	May 27, 2023	May 25, 2024	May 27, 2023
Disaggregation of revenue
Net sales	$ 334,757	$ 324,792	$ 955,634	$ 922,254
North America
Disaggregation of revenue
Net sales	326,698	316,534	931,288	898,700
International
Disaggregation of revenue
Net sales	8,059	8,258	24,346	23,554
Atkins | North America
Disaggregation of revenue
Net sales	128,602	142,057	370,855	408,153
Quest | North America
Disaggregation of revenue
Net sales	$ 198,096	$ 174,477	$ 560,433	$ 490,547

Revenue Recognition (Details 2)

Revenue Recognition (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 25, 2024	May 27, 2023	May 25, 2024	May 27, 2023	Aug. 26, 2023
Revenue from Contract with Customer [Abstract]
Allowance for doubtful accounts	$ 600		$ 600		$ 1,900
Credit loss expense (reversal), accounts receivable	$ 0	$ 200	$ (200)	$ 400

Goodwill Rollforward (Details)

Goodwill Rollforward (Details) - USD ($) $ in Thousands	May 25, 2024	Aug. 26, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 543,134	$ 543,134

Goodwill Narrative (Details)

Goodwill Narrative (Details) $ in Thousands	May 25, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill impairment charges	$ 0

Schedule of Intangible Assets (

Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	May 25, 2024	Aug. 26, 2023
Intangible assets with finite lives:
Intangible assets, gross carrying amount	$ 1,182,267	$ 1,183,407
Finite-lived intangible assets, accumulated amortization	85,729	75,288
Intangible assets, net carrying amount	1,096,538	$ 1,108,119
Finite-lived intangible assets, net carrying amount	$ 122,180
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	62,003	53,303
Finite-lived intangible assets, net carrying amount	$ 111,997	$ 120,697
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	11,936	10,498
Finite-lived intangible assets, net carrying amount	$ 10,064	$ 11,502
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	6,881	6,131
Finite-lived intangible assets, net carrying amount	119	869
Software and website development costs
Intangible assets with finite lives:
Finite-lived intangible assets, gross carrying amount	4,909	6,328
Finite-lived intangible assets, accumulated amortization	4,909	5,356
Finite-lived intangible assets, net carrying amount	0	972
In Process Research and Development
Intangible assets with finite lives:
Finite-lived intangible assets, gross carrying amount	358	79
Finite-lived intangible assets, accumulated amortization	0	0
Finite-lived intangible assets, net carrying amount	$ 358	$ 79
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	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	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		9 Months Ended
	May 25, 2024	May 27, 2023	May 25, 2024	May 27, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible asset amortization expense	$ 3.7	$ 3.9	$ 11.4	$ 11.8
Impairment of intangible assets, excluding goodwill				$ 0

Estimated Future Amortization (

Estimated Future Amortization (Details) $ in Thousands	May 25, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2024	$ 3,814
2025	13,517
2026	13,517
2027	13,517
2028	13,517
2029 and thereafter	64,298
Finite-lived intangible assets, net carrying amount	$ 122,180

Long-Term Debt and Line of Cr_3

Long-Term Debt and Line of Credit - Narrative (Details) $ in Millions				3 Months Ended
	Apr. 25, 2023 USD ($)	Nov. 07, 2019 USD ($)	Jul. 07, 2017 USD ($)	May 25, 2024 USD ($)
Debt Instrument [Line Items]
Letters of Credit Outstanding, Amount				$ 3.2
Debt Instrument, Fee Amount	$ 2.7
Debt Related Commitment Fees and Debt Issuance Costs	$ 2.4
Term Loan
Debt Instrument [Line Items]
Proceeds from long-term line of credit		$ 460		250
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	1.50%
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	2.50%
Interest rate floor	0.50%
Line of Credit | Barclays Bank PLC and Other Parties | Term Loan | One Month Secured Overnight Financing Rate SOFR
Debt Instrument [Line Items]
Interest rate floor	10%
Line of Credit | Barclays Bank PLC and Other Parties | Term Loan | Three Month Secured Overnight Financing Rate SOFR
Debt Instrument [Line Items]
Interest rate floor	0.15%
Line of Credit | Barclays Bank PLC and Other Parties | Term Loan | Six Month Secured Overnight Financing Rate SOFR
Debt Instrument [Line Items]
Interest rate floor	0.25%
Line of Credit | Barclays Bank PLC and Other Parties | Revolving Credit Facility | SOFR Loan
Debt Instrument [Line Items]
Basis spread on variable rate	2%
Line of Credit | Barclays Bank PLC and Other Parties | Revolving Credit Facility | Secured Overnight Financing Rate SOFR
Debt Instrument [Line Items]
Basis spread on variable rate	3%

Long-Term Debt and Line of Cr_4

Long-Term Debt and Line of Credit - Schedule of Debt (Details) - USD ($) $ in Thousands	May 25, 2024	Aug. 26, 2023
Debt Disclosure [Abstract]
Term Facility (effective rate of 7.9% at May 25, 2024)	$ 240,000	$ 285,000
Finance lease liabilities (effective rate of 5.6% at May 25, 2024)	2	143
Less: Deferred financing fees	2,339	3,351
Total debt	237,663	281,792
Less: Current finance lease liabilities	(2)	(143)
Long-term debt, net of deferred financing fees	$ 237,661	$ 281,649

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 25, 2024	May 27, 2023	May 25, 2024	May 27, 2023
Income Tax Disclosure [Abstract]
Income before income taxes	$ 54,717	$ 47,147	$ 145,213
Income tax expense	$ 13,383	$ 11,716	$ 35,195	$ 29,810
Effective tax rate			24.20%	23.50%
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent				$ 126,743

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details)	9 Months Ended
	May 25, 2024
Income Tax Disclosure [Abstract]
Effective tax rate difference	0.70%

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 25, 2024	May 27, 2023	May 25, 2024	May 27, 2023	Aug. 26, 2023
Components of lease expense
Lease cost	$ 2,256	$ 2,245	$ 6,770	$ 6,745
Variable lease cost (1)	1,049	1,047	2,799	2,565
Total operating lease cost	3,305	3,292	9,569	9,310
Amortization of right-of-use assets	18	58	123	189
Interest on lease liabilities	0	3	2	12
Total finance lease cost	18	61	125	201
Total lease cost	3,323	$ 3,353	9,694	9,511
Assets and liabilities, lessee
Operating lease, right-of-use asset	34,756		34,756		$ 40,022
Finance lease, right-of-use asset	2		2		125
Total lease assets	34,758		34,758		40,147
Operating lease, liability, current	7,770		7,770		7,566
Finance lease, liability, current	2		2		143
Operating lease, liability, noncurrent	31,492		31,492		37,272
Total lease liabilities	39,264		39,264		44,981
Future maturities of lease liabilities, operating leases
Remainder of 2024	2,396		2,396
2025	8,750		8,750
2026	6,952		6,952
2027	7,110		7,110
2028	6,447		6,447
Thereafter	13,496		13,496
Total lease payments	45,151		45,151
Less: Interest	(5,889)		(5,889)
Present value of lease liabilities	39,262		39,262
Future maturities of lease liabilities, finance leases
Remainder of 2024	2		2
2025	0		0
2026	0		0
2027	0		0
2028	0		0
Thereafter	0		0
Total lease payments	2		2
Less: Interest	0		0
Present value of lease liabilities	$ 2		$ 2		$ 143
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	2 months 1 day		2 months 1 day		7 months 9 days
Operating Lease, Weighted Average Discount Rate, Percent	4.50%		4.50%		4.40%
Operating Lease, Weighted Average Remaining Lease Term	5 years 9 months 7 days		5 years 9 months 7 days		6 years 2 months 26 days
Supplemental and other information related to leases
Operating cash flows from operating leases			$ 9,141	7,905
Operating cash flows from finance leases			539	394
Financing cash flows from finance leases			$ 143	$ 217

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	May 25, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Other commitment payment obligation	$ 1.2

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended					9 Months Ended
	May 25, 2024	Feb. 24, 2024	Nov. 25, 2023	Feb. 25, 2023	Nov. 26, 2022	May 25, 2024	May 27, 2023	Oct. 21, 2022	Apr. 13, 2022	Nov. 13, 2018
Class of Stock [Line Items]
Repurchase of common stock (in shares)						0	546,346
Stock repurchase program, remaining authorized repurchase amount	$ 71.5					$ 71.5
Treasury Stock Acquired, Average Cost Per Share							$ 30.11
Treasury Stock, Common
Class of Stock [Line Items]
Stock repurchase program, authorized amount	$ 150					$ 150		$ 50	$ 50	$ 50
Repurchase of common stock (in shares)	0	0	0	0	546,346

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	May 25, 2024	Feb. 24, 2024	Nov. 25, 2023	May 27, 2023	Feb. 25, 2023	Nov. 26, 2022	May 25, 2024	May 27, 2023
Earnings per share, diluted
Antidilutive securities excluded from computation of earnings per share	0			0			0	0
Weighted average common shares - basic	100,024,230			99,518,546			99,852,203	99,404,174
Basic earnings per share from net income (in dollars per share)	$ 0.41			$ 0.36			$ 1.10	$ 0.98
Weighted Average Number of Shares Outstanding, Diluted	101,270,163			100,909,972			101,240,471	100,847,970
Diluted earnings per share from net income (in dollars per share)	$ 0.41			$ 0.35			$ 1.09	$ 0.96
Net income	$ 41,334	$ 33,123	$ 35,561	$ 35,431	$ 25,642	$ 35,860	$ 110,018	$ 96,933
Numerator for diluted earnings per share	$ 41,334			$ 35,431			$ 110,018	$ 96,933
Employee stock options	1,055,882			1,228,922			1,143,855	1,256,898
Non-vested shares	190,051			162,504			244,413	186,898
Numerator:
Net income	$ 41,334	33,123	35,561	$ 35,431	25,642	35,860	$ 110,018	$ 96,933
Denominator:
Weighted average common shares - basic	100,024,230			99,518,546			99,852,203	99,404,174
Basic earnings per share from net income (in dollars per share)	$ 0.41			$ 0.36			$ 1.10	$ 0.98
Numerator:
Net income	$ 41,334	$ 33,123	$ 35,561	$ 35,431	$ 25,642	$ 35,860	$ 110,018	$ 96,933
Numerator for diluted earnings per share	$ 41,334			$ 35,431			$ 110,018	$ 96,933
Denominator:
Weighted average common shares - basic	100,024,230			99,518,546			99,852,203	99,404,174
Employee stock options	1,055,882			1,228,922			1,143,855	1,256,898
Non-vested shares	190,051			162,504			244,413	186,898
Weighted average common shares - diluted	101,270,163			100,909,972			101,240,471	100,847,970
Diluted earnings per share from net income (in dollars per share)	$ 0.41			$ 0.35			$ 1.09	$ 0.96
Stock Options
Earnings per share, diluted
Antidilutive securities excluded from computation of earnings per share	800,000			700,000				600,000

Omnibus Incentive Plan (Details

Omnibus Incentive Plan (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 25, 2024	May 27, 2023	May 25, 2024	May 27, 2023
Share-based Compensation Arrangement by Share-based Payment Award
Stock compensation expense	$ 4,500	$ 4,100	$ 13,209	$ 10,456

Omnibus Incentive Plan - Stock

Omnibus Incentive Plan - Stock Options Activity (Details) - USD ($) $ / shares in Units, $ in Thousands		9 Months Ended
	Aug. 26, 2023	May 25, 2024	May 27, 2023
Additional disclosures
Proceeds from option exercises		$ 4,292	$ 5,035
Stock Options
Shares
Outstanding at beginning of period (in shares)		2,668,462
Granted (in shares)		17,633
Exercised (in shares)		(256,879)
Forfeited (in shares)		(9,954)
Outstanding at end of period (in shares)	2,668,462	2,419,262
Options vested or expected to vest (in shares)		2,419,262
Exercisable (in shares)		1,934,142
Weighted average exercise price
Outstanding at beginning of period (in dollars per share)		$ 20.41
Granted (in dollars per share)		33.02
Exercised (in dollars per share)		16.71
Forfeited (in dollars per share)		39.38
Outstanding at end of period (in dollars per share)	$ 20.41	20.82
Options vested or expected to vest (in dollars per share)		20.82
Exercisable (in dollars per share)		$ 16.70
Weighted average remaining contractual term
Outstanding at end of period, weighted average remaining contractual life	5 years 6 months 21 days	4 years 10 months 28 days
Vested and expected to vest at end of period, weighted average remaining contractual life		4 years 10 months 28 days
Exercisable at end of period, weighted average remaining contractual life		4 years 1 month 17 days
Additional disclosures
Unrecognized compensation costs		$ 3,100
Period for recognition of unrecognized compensation cost		1 year
Proceeds from option exercises		$ 4,300	$ 5,000

Omnibus Incentive Plan - Restri

Omnibus Incentive Plan - Restricted Stock Units Activity (Details) - Restricted Stock Units $ / shares in Units, $ in Millions	9 Months Ended
	May 25, 2024 USD ($) $ / shares shares
Units
Non-vested at beginning of period (in shares) | shares	514,498
Granted (in shares) | shares	251,100
Vested (in shares) | shares	(251,841)
Forfeited (in shares) | shares	(11,471)
Non-vested at end of period (in shares) | shares	502,286
Weighted average grant-date fair value
Non-vested at beginning of period (in dollars per share) | $ / shares	$ 35.59
Granted (in dollars per share) | $ / shares	36.82
Vested (in dollars per share) | $ / shares	32.64
Forfeited (in dollars per share) | $ / shares	38.77
Non-vested at end of period (in dollars per share) | $ / shares	$ 37.61
Additional disclosures
Unrecognized compensation costs | $	$ 12.3
Period for recognition of unrecognized compensation cost	1 year 7 months 6 days

Omnibus Incentive Plan - Perfor

Omnibus Incentive Plan - Performance Stock Units Activity (Details) - Performance Stock Units $ / shares in Units, $ in Millions	9 Months Ended
	May 25, 2024 USD ($) $ / shares shares
Units
Non-vested at beginning of period (in shares) | shares	191,779
Granted (in shares) | shares	181,853
Vested (in shares) | shares	(189,884)
Forfeited (in shares) | shares	(1,008)
Non-vested at end of period (in shares) | shares	182,740
Weighted average grant-date fair value
Non-vested at beginning of period (in dollars per share) | $ / shares	$ 42.41
Granted (in dollars per share) | $ / shares	38.77
Vested (in dollars per share) | $ / shares	21.52
Forfeited (in dollars per share) | $ / shares	57.43
Non-vested at end of period (in dollars per share) | $ / shares	$ 59.06
Additional disclosures
Period for recognition of unrecognized compensation cost	1 year 8 months 12 days
Unrecognized compensation costs | $	$ 5.9
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)	9 Months Ended
	May 25, 2024 $ / shares shares
Shares
Outstanding at beginning of period (in shares) | shares	150,000
Granted (in shares) | shares	0
Exercised (in shares) | shares	0
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	$ 37.67
Granted (in dollars per share) | $ / shares	0
Exercised (in dollars per share) | $ / shares	0
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

Subsequent Events (Details)

Subsequent Events (Details) $ in Millions	May 25, 2024 USD ($)
Subsequent Event [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net	$ 280

Uncategorized Items - atk-20240

Label	Element	Value
Payments of Financing Costs	us-gaap_PaymentsOfFinancingCosts	$ 0