AutoZone (AZO) 10-K 28 Oct 19 2019 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Aug. 31, 2019	Oct. 21, 2019	Feb. 09, 2019
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Aug. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Registrant Name	AUTOZONE INC
Entity Central Index Key	0000866787
Current Fiscal Year End Date	--08-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 21,723,299,587
Trading Symbol	AZO
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Common Stock
Security Exchange Name	NYSE
Entity Address, State or Province	TN
Entity Common Stock, Shares Outstanding		23,827,496

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Aug. 31, 2019	Aug. 25, 2018	Aug. 26, 2017
Income Statement [Abstract]
Net sales	$ 11,863,743	$ 11,221,077	$ 10,888,676
Cost of sales, including warehouse and delivery expenses	5,498,742	5,247,331	5,149,056
Gross profit	6,365,001	5,973,746	5,739,620
Operating, selling, general and administrative expenses	4,148,864	4,162,890	3,659,551
Operating profit	2,216,137	1,810,856	2,080,069
Interest expense, net	184,804	174,527	154,580
Income before income taxes	2,031,333	1,636,329	1,925,489
Income tax expense	414,112	298,793	644,620
Net income	$ 1,617,221	$ 1,337,536	$ 1,280,869
Weighted average shares for basic earnings per share	24,966	26,970	28,430
Effect of dilutive stock equivalents	532	454	635
Weighted average shares for diluted earnings per share	25,498	27,424	29,065
Basic earnings per share	$ 64.78	$ 49.59	$ 45.05
Diluted earnings per share	$ 63.43	$ 48.77	$ 44.07

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands		12 Months Ended
		Aug. 31, 2019	Aug. 25, 2018	Aug. 26, 2017
Statement of Comprehensive Income [Abstract]
Net income		$ 1,617,221	$ 1,337,536	$ 1,280,869
Other comprehensive income (loss):
Pension liability adjustments, net of taxes	[1],[2]		72,376	16,514
Foreign currency translation adjustments		(36,699)	(53,085)	35,198
Unrealized gains (losses) on marketable debt securities, net of taxes	[3]	1,464	(862)	(131)
Net derivative activity, net of taxes	[4]	1,718	323	1,391
Total other comprehensive (loss) income		(33,517)	18,752	52,972
Comprehensive income		$ 1,583,704	$ 1,356,288	$ 1,333,841
[1]	On December 19, 2017, the Board approved a resolution to terminate both of the Company’s pension plans, effective March 15, 2018. During the fourth quarter of 2018, the Company completed the termination and no longer has any remaining defined benefit pension obligation.
[2]	Pension liability adjustments are presented net of taxes of $46,523 in 2018, which includes $13,122 related to the adoption of ASU 2018-02—Income Statement—Reporting Comprehensive Income: Reclassification of Certain Tax effects from Accumulated Other Comprehensive Income (ASU 2018-02), and $10,542 in 2017.
[3]	Unrealized gains on marketable debt securities are presented net of taxes of $389 in 2019. Unrealized losses on marketable debt securities are presented net of taxes of $234 in 2018, and $69 in 2017.
[4]	Net derivative activities are presented net of taxes of $530 in 2019, $1,882 in 2018, which includes $1,367 related to the adoption of ASU 2018-02, and $814 in 2017

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2019	Aug. 25, 2018	Aug. 26, 2017
Pension liability adjustments, taxes		$ 46,523	$ 10,542
Unrealized gains (losses) on marketable debt securities, net of taxes	$ 389	(234)	(69)
Net derivative activities, taxes	$ 530	1,882	$ 814
Accounting Standards Update 2018-02 [Member]
Pension liability adjustments, taxes		13,122
Net derivative activities, taxes		$ 1,367

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Aug. 31, 2019	Aug. 25, 2018
Current assets:
Cash and cash equivalents	$ 176,300	$ 217,824
Accounts receivable	308,995	258,136
Merchandise inventories	4,319,113	3,943,670
Other current assets	224,277	216,239
Total current assets	5,028,685	4,635,869
Property and equipment:
Land	1,147,709	1,107,092
Buildings and improvements	3,895,559	3,698,010
Equipment	1,991,042	1,841,330
Leasehold improvements	552,018	504,656
Construction in progress	126,868	140,535
Property and equipment	7,713,196	7,291,623
Less: Accumulated depreciation and amortization	3,314,445	3,073,223
Property and equipment, net	4,398,751	4,218,400
Goodwill	302,645	302,645
Deferred income taxes	26,861	34,620
Other long-term assets	138,971	155,446
Other long-term assets, total	468,477	492,711
Assets	9,895,913	9,346,980
Current liabilities:
Accounts payable	4,864,912	4,409,372
Accrued expenses and other	621,932	606,894
Income taxes payable	25,297	12,415
Total current liabilities	5,512,141	5,028,681
Long-term debt	5,206,344	5,005,930
Deferred income taxes	311,980	285,204
Other long-term liabilities	579,299	547,520
Commitments and contingencies
Stockholders' deficit:
Preferred stock, authorized 1,000 shares; no shares issued
Common stock, par value $.01 per share, authorized 200,000 shares; 25,445 shares issued and 24,038 shares outstanding in 2019 and 27,530 shares issued and 25,742 shares outstanding in 2018	254	275
Additional paid-in capital	1,264,448	1,155,426
Retained deficit	(1,305,347)	(1,208,824)
Accumulated other comprehensive loss	(269,322)	(235,805)
Treasury stock, at cost	(1,403,884)	(1,231,427)
Total stockholders' deficit	(1,713,851)	(1,520,355)
Liabilities and Stockholders' Deficit	$ 9,895,913	$ 9,346,980

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Aug. 31, 2019	Aug. 25, 2018
Common Stock [Member]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	25,445,000	27,530,000
Common stock, shares outstanding	24,038,000	25,742,000
Preferred Stock [Member]
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2019	Aug. 25, 2018	Aug. 26, 2017
Cash flows from operating activities:
Net income	$ 1,617,221	$ 1,337,536	$ 1,280,869
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property and equipment and intangibles	369,957	345,084	323,051
Amortization of debt origination fees	8,162	8,393	8,369
Deferred income taxes	35,051	(124,261)	74,902
Share-based compensation expense	43,255	43,674	38,244
Pension plan contributions		(11,596)	(17,761)
Pension termination charges (refund)	(6,796)	130,263
Asset impairment		193,162
Changes in operating assets and liabilities:
Accounts receivable	(48,512)	7,534	7,795
Merchandise inventories	(394,147)	(188,782)	(236,807)
Accounts payable and accrued expenses	464,176	319,609	82,614
Income taxes payable	(10,489)	(6,438)	(3,659)
Other, net	50,635	26,114	12,995
Net cash provided by operating activities	2,128,513	2,080,292	1,570,612
Cash flows from investing activities:
Capital expenditures	(496,050)	(521,788)	(553,832)
Proceeds from sale of assets		35,279
Purchase of marketable debt securities	(55,538)	(104,536)	(85,711)
Proceeds from sale of marketable debt securities	53,140	69,644	82,993
Proceeds (payments) from disposal of capital assets and other, net	6,602	(459)	2,951
Net cash used in investing activities	(491,846)	(521,860)	(553,599)
Cash flows from financing activities:
Net (payments of) proceeds from commercial paper	(295,300)	170,200	(42,400)
Proceeds from issuance of debt	750,000		600,000
Repayment of debt	(250,000)	(250,000)	(400,000)
Net proceeds from sale of common stock	188,819	89,715	54,686
Purchase of treasury stock	(2,004,896)	(1,592,013)	(1,071,649)
Payments of capital lease obligations	(53,307)	(49,004)	(47,604)
Other, net	(9,404)	(1,052)	(7,362)
Net cash used in financing activities	(1,674,088)	(1,632,154)	(914,329)
Effect of exchange rate changes on cash	(4,103)	(1,724)	852
Net (decrease) increase in cash and cash equivalents	(41,524)	(75,446)	103,536
Cash and cash equivalents at beginning of year	217,824	293,270	189,734
Cash and cash equivalents at end of year	176,300	217,824	293,270
Supplemental cash flow information:
Interest paid, net of interest cost capitalized	153,371	163,965	135,331
Income taxes paid	383,871	427,161	579,925
Assets acquired through capital lease	$ 147,699	$ 98,782	$ 84,011

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Deficit - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Deficit [Member]	Accumulated Other Comprehensive Loss [Member]	Treasury Stock [Member]
Balance at Aug. 27, 2016	$ (1,787,538)	$ 303	$ 1,054,647	$ (1,602,186)	$ (307,529)	$ (932,773)
Balance, Shares at Aug. 27, 2016		30,329
Net income	1,280,869			1,280,869
Total other comprehensive income (loss)	52,972				52,972
Purchase of treasury stock	(1,071,649)					(1,071,649)
Retirement of treasury shares		$ (18)	(64,943)	(1,321,070)		1,386,031
Retirement of treasury shares, shares		(1,804)
Issuance of common stock under stock options and stock purchase plans	54,686	$ 2	54,684
Issuance of common stock under stock options and stock purchase plans, Shares		210
Share-based compensation expense	42,283		42,283
Balance at Aug. 26, 2017	(1,428,377)	$ 287	1,086,671	(1,642,387)	(254,557)	(618,391)
Balance, shares at Aug. 26, 2017		28,735
Net income	1,337,536			1,337,536
Total other comprehensive income (loss)	18,752				18,752
Purchase of treasury stock	(1,592,013)					(1,592,013)
Retirement of treasury shares		$ (15)	(60,500)	(918,462)		978,977
Retirement of treasury shares, shares		(1,512)
Issuance of common stock under stock options and stock purchase plans	89,715	$ 3	89,712
Issuance of common stock under stock options and stock purchase plans, Shares		307
Adoption of ASU 2018-02	14,489			14,489
Share-based compensation expense	39,543		39,543
Balance at Aug. 25, 2018	(1,520,355)	$ 275	1,155,426	(1,208,824)	(235,805)	(1,231,427)
Balance, shares at Aug. 25, 2018		27,530
Cumulative effect of adoption of ASU 2014-09 at Aug. 25, 2018	(6,773)			(6,773)
Balance at August 25, 2018, as adjusted at Aug. 25, 2018	(1,527,128)	$ 275	1,155,426	(1,215,597)	(235,805)	(1,231,427)
Balance at August 25, 2018, as adjusted, shares at Aug. 25, 2018		27,530
Net income	1,617,221			1,617,221
Total other comprehensive income (loss)	(33,517)				(33,517)
Purchase of treasury stock	(2,004,896)					(2,004,896)
Retirement of treasury shares		$ (26)	(125,442)	(1,706,971)		1,832,439
Retirement of treasury shares, shares		(2,563)
Issuance of common stock under stock options and stock purchase plans	195,190	$ 5	195,185
Issuance of common stock under stock options and stock purchase plans, Shares		478
Share-based compensation expense	39,279		39,279
Balance at Aug. 31, 2019	$ (1,713,851)	$ 254	$ 1,264,448	$ (1,305,347)	$ (269,322)	$ (1,403,884)
Balance, shares at Aug. 31, 2019		25,445

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Deficit (Parenthetical) - shares shares in Thousands	12 Months Ended			260 Months Ended
	Aug. 31, 2019	Aug. 25, 2018	Aug. 26, 2017	Aug. 31, 2019
Statement of Stockholders' Equity [Abstract]
Purchase of treasury stock, shares	2,182	2,398	1,495	146,900

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Aug. 31, 2019
Accounting Policies [Abstract]
Significant Accounting Policies	Note A – Significant Accounting Policies Business: 5,772 604 35 non-automotive non-automotive Fiscal Year: Basis of Presentation: Use of Estimates: Cash and Cash Equivalents: 90 days or less less than five days Cash balances are held in various locations around the world. Cash and cash equivalents of $ 49.9 Accounts Receivable: Merchandise Inventories: last-in, first-out Marketable Debt Securities: available-for-sale. Property and Equipment: 40 50 5 15 3 10 Impairment of Long-Lived Assets: Goodwill: Intangible Assets: Derivative Instruments and Hedging Activities: AutoZone’s financial market risk results primarily from changes in interest rates. At times, AutoZone reduces its exposure to changes in interest rates by entering into various interest rate hedge instruments such as interest rate swap contracts, treasury lock agreements and forward-starting interest rate swaps. All of the Company’s interest rate hedge instruments are designated as cash flow hedges. Refer to “Note H – Derivative Financial Instruments” for additional disclosures regarding the Company’s derivative instruments and hedging activities. Cash flows related to these instruments designated as qualifying hedges are reflected in the accompanying Consolidated Statements of Cash Flows in the same categories as the cash flows from the items being hedged. Accordingly, cash flows relating to the settlement of interest rate derivatives hedging the forecasted issuance of debt have been reflected upon settlement as a component of financing cash flows. The resulting gain or loss from such settlement is deferred to Accumulated Other Comprehensive Loss and reclassified to interest expense over the term of the underlying debt. This reclassification of the deferred gains and losses impacts the interest expense recognized on the underlying debt that was hedged and is therefore reflected as a component of operating cash flows in periods subsequent to settlement. Foreign Currency: German Self-Insurance Reserves: The Company retains a significant portion of the risks associated with workers’ compensation, general liability, products liability, property and vehicle insurance. The Company obtains third party insurance to limit the exposure related to certain of these risks. The reserve for the Company’s liability associated with these risks totaled $207.0 million and $203.1 million at August 31, 2019 and August 25, 2018, respectively. The assumptions made by management in estimating its self-insurance reserves include consideration of historical cost experience, judgments about the present and expected levels of cost per claim and retention levels. The Company utilizes various methods, including analyses of historical trends and use of a specialist, to estimate the costs to settle reported claims and claims incurred but not yet reported. The actuarial methods develop estimates of the future ultimate claim costs based on claims incurred as of the balance sheet date. When estimating these liabilities, the Company considers factors, such as the severity, duration and frequency of claims, legal costs associated with claims, healthcare trends and projected inflation of related factors. The Company’s liabilities for workers’ compensation, general and product liability, property and vehicle claims do not have scheduled maturities; however, the timing of future payments is predictable based on historical patterns and is relied upon in determining the current portion of these liabilities. Accordingly, the Company reflects the net present value of the obligations it determines to be long-term using the risk-free interest rate as of the balance sheet date. Deferred Rent: Financial Instruments: Income Taxes: The Company recognizes liabilities for uncertain income tax positions based on a two-step more than 50% The Company classifies interest related to income tax liabilities, and if applicable, penalties, as a component of Income tax expense. The income tax liabilities and accrued interest and penalties that are expected to be payable within one year of the balance sheet date are presented within the Accrued expenses and other caption in the accompanying Consolidated Balance Sheets. The remaining portion of the income tax liabilities and accrued interest and penalties are presented within the Other long-term liabilities caption in the accompanying Consolidated Balance Sheets because payment of cash is not anticipated within one year of the balance sheet date. Refer to “Note D – Income Taxes” for additional disclosures regarding the Company’s income taxes. Sales and Use Taxes: Dividends: Revenue Recognition: The Company’s performance obligations are typically satisfied when the customer takes possession of the merchandise. Revenue from retail customers is recognized when the customer leaves our store with the purchased products, typically at the point of sale or for E-commerce same-day. pre-established - A portion of the Company’s transactions include the sale of auto parts that contain a core component. The core component represents the recyclable portion of the auto part. Customers are not charged for the core component of the new part if a used core is returned at the point of sale of the new part; otherwise the Company charges customers a specified amount for the core component. The Company refunds that same amount upon the customer returning a used core to the store at a later date. The Company does not recognize sales or cost of sales for the core component of these transactions when a used part is returned or expected to be returned from the customer. Vendor Allowances and Advertising Costs: Rebates and other miscellaneous incentives are earned based on purchases or product sales and are accrued ratably over the purchase or sale of the related product. These monies are generally recorded as a reduction of merchandise inventories and are recognized as a reduction to cost of sales as the related inventories are sold. For arrangements that provide for reimbursement of specific, incremental, identifiable costs incurred by the Company in selling the vendors’ products, the vendor funds are recorded as a reduction to Operating, selling, general and administrative expenses in the period in which the specific costs were incurred. The Company expenses advertising costs as incurred. Advertising expense, net of vendor promotional funds, was $87.5 million in fiscal 2019, $95.2 million in fiscal 2018, and $93.1 million in fiscal 2017. Vendor promotional funds, which reduced advertising expense, amounted to $32.2 million in fiscal 2019, $25.3 million in fiscal 2018, and $28.3 million in fiscal 2017. Cost of Sales and Operating, Selling, General and Administrative Expenses: Cost of Sales • Total cost of merchandise sold, including: • Freight expenses associated with moving merchandise inventories from the Company’s vendors to the distribution centers; • Vendor allowances that are not reimbursements for specific, incremental and identifiable costs • Costs associated with operating the Company’s supply chain, including payroll and benefit costs, warehouse occupancy costs, transportation costs and depreciation; and • Inventory shrinkage Operating, Selling, General and Administrative Expenses • Payroll and benefit costs for store, field leadership and store support employees; • Occupancy costs of store and store support facilities; • Depreciation and amortization related to store and store support assets; • Transportation costs associated with field leadership, commercial sales force and deliveries from stores; • Advertising; • Self - • Other administrative costs, such as credit card transaction fees, legal costs, supplies and travel and lodging Warranty Costs: Shipping and Handling Costs: Pre-opening Pre-opening Earnings per Share Share-Based Payments: Risk and Uncertainties: Recently Adopted Accounting Pronouncements: In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU 2014-09, 2014-09, 2014-09, 2014-09 In October 2016, the FASB issued ASU 2016-16, 2016-16 2016-16 Recently Issued Accounting Pronouncements: In February 2016, the FASB issued ASU 2016-02, Accounting Standard Codification 840 (“ASC 840”), two-fold right-of-use The Company established a cross-functional implementation team to implement the new standard and identify new processes and controls to ensure compliance with the new standard. The implementation team has implemented ASU 2016-02 In June 2018, the FASB issued ASU 2018-07, Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting 2018-07 2018-07 In August 2018, the FASB issued ASU 2018-15, Intangibles – Goodwill and Other Internal Use Software (Subtopic 350-40): internal-use 2018-15 In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments 2018-19, Codification Improvements to Topic 326, Financial Instruments Credit Losses. 2016-13 2016-13

Share-Based Payments

Share-Based Payments	12 Months Ended
	Aug. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Payments	Note B – Share-Based Payments Overview of Share-Based Payment Plans The Company has several active and inactive equity incentive plans under which the Company has been authorized to grant share-based awards to key employees and non-employee at a d iscou nt Amended and Restated AutoZone, Inc. 2011 Equity Incentive Award Plan On December 15, 2010, the Company’s stockholders approved the 2011 Equity Incentive Award Plan (the “2011 Plan”), allowing the Company to provide equity-based compensation to non-employee non-employee During fiscal 2016, the Company’s stockholders approved the Amended and Restated AutoZone, Inc. 2011 Equity Incentive Award Plan (the “Amended 2011 Equity Plan”). The Amended 2011 Equity Plan imposes a maximum limit on the compensation, measured as the sum of any cash compensation and the aggregate grant date fair value of awards granted under the Amended 2011 Equity Plan, which may be paid to non-employee ten-year AutoZone, Inc. Director Compensation Program During fiscal 2014, the Company adopted the 2014 Director Compensation Program (the “Program”), which states that non-employee non-employee non-employee Non-employee 2011 Director Compensation Program In addition to the 2011 Plan, on December 15, 2010, the Company adopted the 2011 Director Compensation Program (the “2011 Program”), which stated that non-employee one-fourth non-employee Total share-based compensation expense (a component of Operating, selling, general and administrative expenses) was $43.3 million for fiscal 2019, $43.7 million for fiscal 2018 and $38.2 million for fiscal 2017. As of August 31, 2019, share-based compensation expense for unvested awards not yet recognized in earnings is $34.3 million and will be recognized over a weighted average period of 1.7 years. General terms and methods of valuation for the Company’s share-based awards are as follows: Stock Options The Company grants options to purchase common stock to certain of its employees under its plan at prices equal to the market value of the stock on the date of grant. Options have a term of 10 years or 10 years and one day from grant date. Employee options generally vest in equal annual installments on the first, second, third and fourth anniversaries of the grant date and generally have 30 or 90 days after the service relationship ends, or one year after death, to exercise all vested options. The fair value of each option grant is separately estimated for each vesting date. The fair value of each option is amortized into compensation expense on a straight-line basis between the grant date for the award and each vesting date. The Company has estimated the fair value of all stock option awards as of the date of the grant by applying the Black-Scholes-Merton multiple-option pricing valuation model. The following table presents the weighted average for key assumptions used in determining the fair value of options granted and the related share-based compensation expense: Year Ended August 31, August 25, August 26, Expected price volatility 21 % 20 % 18 % Risk-free interest rates 3.0 % 1.9 % 1.2 % Weighted average expected lives (in years) 5.6 5.1 5.1 Forfeiture rate 10 % 10 % 10 % Dividend yield 0 % 0 % 0 % The following methodologies were applied in developing the assumptions used in determining the fair value of options granted: Expected price volatility Risk-free interest rate Expected lives Forfeiture rate Dividend yield The weighted average grant date fair value per share of options granted was $208.37 during fiscal 2019, $129.12 during fiscal 2018 and $139.80 during fiscal 2017. The intrinsic value of options exercised was $227.4 million in fiscal 2019, $123.1 million in fiscal 2018 and $93.9 million in fiscal 2017. The total fair value of options vested was $34.5 million in fiscal 2019, $35.7 million in fiscal 2018 and $34.7 million in fiscal 2017. The Company generally issues new shares when options are exercised. The following table summarizes information about stock option activity for the year ended August 31, 2019: Number of Shares Weighted Average Exercise Weighted- (in years) Aggregate Intrinsic (in thousands) Outstanding – August 25, 2018 1,706,866 $ 534.74 Granted 172,750 774.33 Exercised (471,216 ) 413.60 Cancelled (59,089 ) 679.92 Outstanding – August 31, 2019 1,349,311 601.36 6.08 $ 675,097 Exercisable 793,266 528.85 4.88 454,415 Expected to vest 500,441 704.81 7.80 198,614 Available for future grants 547,519 Restricted Stock Units Restricted stock unit awards are valued at the market price of a share of the Company’s stock on the date of grant and vest ratably on an annual basis over a four-year service period and are payable in shares of common stock on the vesting date. Compensation expense for grants of employee restricted stock units is recognized on a straight-line basis over the four-year service period, less estimated forfeitures, which are consistent with stock option forfeiture assumptions. As of August 31, 2019, total unrecognized stock-based compensation expense related to nonvested restricted stock unit awards, net of estimated forfeitures, was approximately $5.6 million, before income taxes, which we expect to recognize over an estimated weighted average period of 3.1 years. Transactions related to restricted stock units for the fiscal year ended August 31, 2019 as follow: Number of Shares Weighted- Nonvested at August 25, 2018 — — Granted 13,021 $ 786.08 Vested (2,514 ) 838.34 Canceled or forfeited (458 ) 772.80 Nonvested at August 31, 2019 10,049 $ 773.61 Stock Appreciation Rights At August 31, 2019 , compensation expense Employee Stock Purchase Plan and Executive Stock Purchase Plan The Company recognized $2.8 million in compensation expense related to the discount on the selling of shares to employees and executives under the various share purchase plans in fiscal 2019, $2.1 million in fiscal 2018 and $1.8 million in fiscal 2017. Under the Employee Plan, 11,011, 14,523 and 2019, respectivel y all at market value

Accrued Expenses and Other

Accrued Expenses and Other	12 Months Ended
	Aug. 31, 2019
Payables and Accruals [Abstract]
Accrued Expenses and Other	Note C – Accrued Expenses and Other Accrued expenses and other consisted of the following: (in thousands) August 31, August 25, Accrued compensation, related payroll taxes and benefits $ 170,321 $ 195,004 Property, sales, and other taxes 122,372 106,050 Medical and casualty insurance claims (current portion) 89,250 88,761 Capital lease obligations 56,246 52,290 Accrued interest 48,147 36,902 Accrued gift cards 38,658 27,401 Accrued sales and warranty returns 34,310 20,025 Other 62,628 80,461 $ 621,932 $ 606,894 The Company retains a significant portion of the insurance risks associated with workers’ compensation, employee health, general, products liability, property and vehicle insurance. A portion of these self-insured losses is managed through a wholly owned insurance captive. The Company maintains certain levels for stop-loss coverage for each self-insured plan in order to limit its liability for large claims. The retained limits per claim type

Income Taxes

Income Taxes	12 Months Ended
	Aug. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Note D – Income Taxes The components of income from continuing operations before income taxes are as follows: Year Ended (in thousands) August 31, August 25, August 26, Domestic $ 1,745,625 $ 1,412,963 $ 1,737,401 International 285,708 223,366 188,088 $ 2,031,333 $ 1,636,329 $ 1,925,489 The provision for income tax expense consisted of the following: Year Ended (in thousands) August 31, August 25, August 26, Current: Federal $ 274,504 $ 328,963 $ 487,492 State 45,457 36,389 31,733 International 59,100 57,702 50,493 379,061 423,054 569,718 Deferred: Federal 25,757 (131,926 ) 72,208 State 6,914 8,167 7,769 International 2,380 (502 ) (5,075 ) 35,051 (124,261 ) 74,902 Income tax expense $ 414,112 $ 298,793 $ 644,620 A reconciliation of the provision for income taxes to the amount computed by applying the federal statutory tax rate to income before income taxes is as follows: Year Ended (in thousands) August 31, August 25, August 26, Federal tax at statutory U.S. income tax rate 21.0% 25.9% 35.0% State income taxes, net 2.0% 1.9% 1.3% Transition tax — 1.6% — Share-based compensation (1.8% ) (1.6% ) (1.4% ) Impact of tax reform (0.4% ) (9.6% ) — Other (0.4% ) 0.1% (1.4% ) Effective tax rate 20.4% 18.3% 33.5% On December 22, 2017, Tax Reform was enacted into law. Tax Reform significantly revises the U.S. federal corporate income tax by, among other things, lowering the statutory federal corporate rate from 35% to 21%, eliminating certain deductions, imposing a mandatory one-time During the year ended August 25, 2018, the Company recorded a provisional tax benefit of $131.5 million related to Tax Reform, comprised of a $157.3 million remeasurement of its net deferred tax assets, offset by $25.8 million of transition tax. During the year ended August 31, 2019, the Company completed its analysis of Tax Reform and recorded adjustments to the previously-recorded provisional amounts, resulting in an $8.8 million tax benefit, primarily related to transition tax. For the year ended August 31, 2019, August 25, 2018, and August 26, 2017, the Company recognized excess tax benefits from stock option exercises of $46.0 million, $31.3 million and $31.2 million, respectively. Beginning with the year ending August 31, 2019, the Company is subject to a new tax on global intangible low-taxed Significant components of the Company’s deferred tax assets and liabilities were as follows: (in thousands) August 31, August 25, Deferred tax assets: Net operating loss and credit carryforwards $ 42,958 $ 47,190 Accrued benefits 58,900 62,867 Other 59,237 46,375 Total deferred tax assets 161,095 156,432 Less: Valuation allowances (23,923 ) (19,619 ) Net deferred tax assets 137,172 136,813 Deferred tax liabilities: Property and equipment (114,956 ) (101,049 ) Inventory (259,827 ) (242,138 ) Prepaid expenses (46,487 ) (42,019 ) Other (1,021 ) (2,191 ) Total deferred tax liabilities (422,291 ) (387,397 ) Net deferred tax liabilities $ (285,119 ) $ (250,584 ) The Company has historically asserted its intention to indefinitely reinvest foreign current and accumulated earnings and other basis differences in certain foreign subsidiaries. For the year ended August 31, 2019, with few exceptions, the Company no longer considers current and accumulated earnings to be indefinitely reinvested in our foreign subsidiaries. Where necessary, withholding tax provisions resulting from foreign distributions of current and accumulated earnings have been considered in the Company’s provision for income taxes. The Company maintains its assertion related to other basis differences in foreign subsidiaries. It is impracticable for the Company to determine the amount of unrecognized deferred tax liability on these indefinitely reinvested basis differences. At August 31, 2019 and August 25, 2018, the Company had deferred tax assets of $29.9 million and $30.9 million, respectively, from net operating loss (“NOL”) carryforwards available to reduce future taxable income totaling approximately $226.3 million and $219.1 million, respectively. Certain NOLs have no expiration date and others will expire, if not utilized, in various years from fiscal 2020 2039 2020 2029 At August 31, 2019 and August 25, 2018, the Company had a valuation allowance of $23.9 million and $19.6 million, respectively, on deferred tax assets associated with NOL and tax credit carryforwards for which management has determined it is more likely than not that the deferred tax asset will not be realized. Management believes it is more likely than not that the remaining deferred tax assets will be fully realized. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: (in thousands) August 31, August 25, Beginning balance $ 26,077 $ 22,201 Additions based on tax positions related to the current year 8,621 8,184 Additions for tax positions of prior years 2,115 1,404 Reductions for tax positions of prior years (1,219 ) (482 ) Reductions due to settlements (1,918 ) (1,930 ) Reductions due to statute of limitations (2,784 ) (3,300 ) Ending balance $ 30,892 $ 26,077 Included in the August 31, 2019 and the August 25, 2018 balances are $16.8 million and $13.5 million, respectively, of unrecognized tax benefits that, if recognized, would reduce the Company’s effective tax rate. The balances above also include amounts totaling $11.9 million and $10.3 million for August 31, 2019 and August 25, 2018, respectively, that are accounted for as reductions to deferred tax assets for NOL carryforwards and tax credit carryforwards. It is anticipated that in the event the associated uncertain tax positions are disallowed, the NOL carryforwards and tax credit carryforwards would be utilized to settle the liability. The Company accrues interest on unrecognized tax benefits as a component of income tax expense. Penalties, if incurred, would be recognized as a component of income tax expense. The Company had $1.4 million and $0.7 million accrued for the payment of interest and penalties associated with unrecognized tax benefits at August 31, 2019 and August 25, 2018, respectively. The Company files U.S. federal, U.S. state and local, and international income tax returns. With few exceptions, the Company is no longer subject to U.S. federal, U.S. state and local, or Non-U.S. Non-U.S.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Aug. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note E – Fair Value Measurements The Company defines fair value as the price received to transfer an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In accordance with ASC 820, Fair Value Measurements and Disclosures Level 1 inputs Level 2 inputs Level 3 inputs Marketable Debt Securities Measured at Fair Value on a Recurring Basis The Company’s marketable debt securities measured at fair value on a recurring basis were as follows: August 31, 2019 (in thousands) Level 1 Level 2 Level 3 Fair Value Other current assets $ 65,344 $ 2,614 $ — $ 67,958 Other long-term assets 65,573 5,395 — 70,968 $ 130,917 $ 8,009 $ — $ 138,926 August 25, 2018 (in thousands) Level 1 Level 2 Level 3 Fair Value Other current assets $ 55,711 $ 3,733 $ — $ 59,444 Other long-term assets 58,973 16,259 — 75,232 $ 114,684 $ 19,992 $ — $ 134,676 At August 31, 2019, the fair value measurement amounts for assets and liabilities recorded in the accompanying Consolidated Balance Sheet consisted of short-term marketable debt securities of $68.0 million, which are included within Other current assets and long-term marketable debt securities of $71.0 million, which are included in Other long-term assets. The Company’s marketable debt securities are typically valued at the closing price in the principal active market as of the last business day of the quarter or through the use of other market inputs relating to the debt securities, including benchmark yields and reported trades. A discussion on how the Company’s cash flow hedges are valued is included in “Note H – Derivative Financial Instruments,” while the fair values of the marketable debt securities by asset class are described in “Note F – Marketable Debt Securities.” Non-Financial Non-Recurring Certain non-financial assets a non-recurring basis These non-financial assets significant non-financial assets a non-recurring basis Financial Instruments not Recognized at Fair Value The Company has financial instruments, including cash and cash equivalents, accounts receivable, other current assets and accounts payable. The carrying amounts of these financial instruments approximate fair value because of their short maturities. A discussion of the carrying values and fair values of the Company’s debt is included in “Note I – Financing.”

Marketable Debt Securities

Marketable Debt Securities	12 Months Ended
	Aug. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Marketable Debt Securities	Note F – Marketable Debt Securities The Company’s basis for determining the cost of a security sold is the “Specific Identification Model.” Unrealized gains (losses) on marketable debt securities are recorded in Accumulated Other Comprehensive Loss. The Company’s available-for-sale August 31, 2019 (in thousands ) Amortized Basis Gross Gross Fair Corporate debt securities $ 36,998 $ 29 $ (19 ) $ 37,008 Government bonds 45,741 763 — 46,504 Mortgage-backed securities 2,089 2 (15 ) 2,076 Asset-backed securities and other 53,345 — (7 ) 53,338 $ 138,173 $ 794 $ (41 ) $ 138,926 August 25, 2018 (in thousands ) Amortized Basis Gross Gross Fair Corporate debt securities $ 50,306 $ — $ (684 ) $ 49,622 Government bonds 28,777 — (173 ) 28,604 Mortgage-backed securities 3,248 — (90 ) 3,158 Asset-backed securities and other 53,445 — (153 ) 53,292 $ 135,776 $ — $ (1,100 ) $ 134,676 The marketable debt securities held at August 31, 2019, had effective maturities ranging from less than one year to approximately three years The Company holds 48 securities that are in an unrealized loss position of approximately $41 thousand at August 31, 2019. The Company has the intent and ability to hold these investments until recovery of fair value or maturity, and does not deem the investments to be impaired on an other than temporary basis. In evaluating whether the securities are deemed to be impaired on an other than temporary basis, the Company considers factors such as the duration and severity of the loss position, the credit worthiness of the investee, the term to maturity and its intent and ability to hold the investments until maturity or until recovery of fair value. Included above in total marketable debt securities are $89.2 million and $85.6 million of marketable debt securities transferred by the Company’s insurance captive to a trust account to secure its obligations to an insurance company related to future workers’ compensation and casualty losses as of August 31, 2019 and August 25, 2018, respectively.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	12 Months Ended
	Aug. 31, 2019
Equity [Abstract]
Accumulated Other Comprehensive Loss	Note G – Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Loss includes certain adjustments to pension liabilities, foreign currency translation adjustments, certain activity for interest rate swaps and treasury rate locks that qualify as cash flow hedges and unrealized gains (losses) on available-for-sale (in thousands) Pension Liability Foreign (2) Net Derivatives Total Balance at August 26, 2017 $ (72,376 ) $ (175,814 ) $ (11 ) $ (6,356 ) $ (254,557 ) Other comprehensive income (loss) before reclassifications 77,774 (53,085 ) (800 ) — 23,889 Amounts reclassified from Accumulated Other Comprehensive Loss (1) 7,724 (4) — (62 ) (5) 1,690 (6) 9,352 Adoption of ASU 2018-02 (3) (13,122 ) — — (1,367 ) (14,489 ) Balance at August 25, 2018 — (228,899 ) (873 ) (6,033 ) (235,805 ) Other Comprehensive (Loss) income before reclassifications — (36,699 ) 1,498 — (35,201 ) Amounts reclassified from Accumulated Other Comprehensive Loss (1) — — (34 ) (5) 1,718 (6) 1,684 Balance at August 31, 2019 $ — $ (265,598 ) $ 591 $ (4,315 ) $ (269,322 ) (1) Amounts in parentheses indicate debits to Accumulated Other Comprehensive Loss (AOCL). (2) Foreign currency is shown net of U.S. tax to account for foreign currency impacts of certain undistributed non-U.S. non-U.S. (3) Represents the tax effects from deferred tax items reclassified from AOCL to retained earnings related to the adoption of ASU 2018-02. (4) The amounts reclassified from AOCL associated with our pension plans have been reclassified to Operating, selling, general and administrative expenses on the Consolidated Statements of Income as a result of the termination of the plans. See “Note L – Pension and Savings Plans” for further discussion. (5) Represents realized gains on marketable debt securities, net of taxes of $389 in fiscal 2019 and realized losses on marketable debt securities, net of tax benefit (6) Represents gains and losses on derivatives, net of taxes of $530 in fiscal 2019 and $515 in fiscal 2018, which is recorded in Interest expense, net, on the Consolidated Statements of Income. See “Note H – Derivative Financial Instruments” for further discussion.

Derivative Financial Instrument

Derivative Financial Instruments	12 Months Ended
	Aug. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Note H – Derivative Financial Instruments The Company periodically uses derivatives to hedge exposures to interest rates. The Company does not hold or issue financial instruments for trading purposes. For transactions that meet the hedge accounting criteria, the Company formally designates and documents the instrument as a hedge at inception and quarterly thereafter assesses the hedges to ensure they are effective in offsetting changes in the cash flows of the underlying exposures. Derivatives are recorded in the Company’s Consolidated Balance Sheet at fair value, determined using available market information or other appropriate valuation methodologies. In accordance with ASC Topic 815, Derivatives and Hedging At August 31, 2019, the Company had $5.6 million recorded in Accumulated Other Comprehensive Loss related to net realized losses associated with terminated interest rate swap and treasury rate lock derivatives which were designated as hedging instruments. Net losses are amortized into Interest expense over the remaining life of the associated debt. During the fiscal 2019 and 2018, the Company reclassified $2.2 million of net losses from Accumulated Other Comprehensive Loss to Interest expense and expects the same level of expense in fiscal 2020.

Financing

Financing	12 Months Ended
	Aug. 31, 2019
Debt Disclosure [Abstract]
Financing	Note I – Financing The Company’s debt consisted of the following: (in thousands) August 31, 2019 August 25, 1.625% Senior Notes due April 2019, effective interest rate of 1.77% $ — $ 250,000 4.000% Senior Notes due November 2020, effective interest rate of 4.43% 500,000 500,000 2.500% Senior Notes due April 2021, effective interest rate of 2.62% 250,000 250,000 3.700% Senior Notes due April 2022, effective interest rate of 3.85% 500,000 500,000 2.875% Senior Notes due January 2023, effective interest rate of 3.21% 300,000 300,000 3.125% Senior Notes due July 2023, effective interest rate of 3.26% 500,000 500,000 3.125% Senior Notes due April 2024, effective interest rate 3.32% 300,000 — 3.250% Senior Notes due April 2025, effective interest rate 3.36% 400,000 400,000 3.125% Senior Notes due April 2026, effective interest rate of 3.28% 400,000 400,000 3.750% Senior Notes due June 2027, effective interest rate of 3.83% 600,000 600,000 3.750% Senior Notes due April 2029, effective interest rate of 3.86% 450,000 — Commercial paper, weighted average interest rate of 2.28% and 2.29% at August 31, 2019 and August 25, 2018, respectively 1,030,000 1,325,300 Total debt before discounts and debt issuance costs 5,230,000 5,025,300 Less: Discounts and debt issuance costs 23,656 19,370 Long-term debt $ 5,206,344 $ 5,005,930 As of August 31, 2019, the commercial paper borrowings are classified as long-term in the accompanying Consolidated Balance Sheets as the Company has the ability and intent to refinance on a long-term basis through available capacity in its revolving credit facilities. As of August 31, 2019, the Company had $1.997 billion of availability under its $2.0 billion revolving credit facilities, which would allow it to replace these short-term obligations with long-term financing facilities. The Company entered into a Master Extension, New Commitment and Amendment Agreement dated as of November 18, 2017 (the “Extension Amendment”) to the Third Amended and Restated Credit Agreement dated as of November 18, 2016, as amended, modified, extended or restated from time to time (the “Revolving Credit Agreement”). Under the Extension Amendment: (i) the Company’s borrowing capacity under the Revolving Credit Agreement was increased from $1.6 billion to $2.0 billion; (ii) the Company’s option to increase its borrowing capacity under the Revolving Credit Agreement was “refreshed” and the amount of such option remained at $400 million; (iii) the maximum borrowing under the Revolving Credit Agreement may, at the Company’s option, subject to lenders approval, be increased from $2.0 billion to $2.4 billion; (iv) the termination date of the Revolving Credit Agreement was extended from November 18, 2021 until November 18, 2022; and (v) the Company has the option to make one additional written request of the lenders to extend the termination date then in effect for an additional year. Under the Revolving Credit Agreement, the Company may borrow funds consisting of Eurodollar loans, base rate loans or a combination of both. Interest accrues on Eurodollar loans at a defined Eurodollar rate, defined as LIBOR plus the applicable percentage, as defined in the Revolving Credit Agreement, depending upon the Company’s senior, unsecured, (non-credit no borrowings outstanding and The Revolving Credit Agreement requires that the Company’s consolidated interest coverage ratio as of the last day of each quarter shall be no less than 2.5:1. This ratio is defined as the ratio of (i) consolidated earnings before interest, taxes and rents to (ii) consolidated interest expense plus consolidated rents. The Company’s consolidated interest coverage ratio as of August 31, 2019 was 5.7:1. The Company also maintains a letter of credit facility that allows it to request the participating bank to issue letters of credit on its behalf up to an aggregate amount of $25 million. The letter of credit facility is in addition to the letters of credit that may be issued under the Revolving Credit Agreement. In fiscal 2019, the Company amended the existing letter of credit facility to decrease the amount that can be requested in letters of credit from $75 million to $25 million effective June 2019. This amendment also extended the maturity date from June 2019 to June 2022. As of August 31, 2019, the Company had $25.0 million in letters of credit outstanding under the letter of credit facility. In addition to the outstanding letters of credit issued under the committed facilities discussed above, the Company had $72.9 million in letters of credit outstanding as of August 31, 2019. These letters of credit have various maturity dates and were issued on an uncommitted basis. On April 18, 2019, the Company issued $300 million in 3.125% Senior Notes due April 2024 and $450 million in 3.750% Senior Notes due April 2029 under its automatic shelf registration statement on Form S-3, No. 333-230719) On April 18, 2017, the Company issued $600 million in 3.750% Senior Notes due June 2027 under its shelf registration statement filed with the SEC on April 15, 2015 (the “2015 Shelf Registration”). All senior notes are subject to an interest rate adjustment if the debt ratings assigned to the senior notes are downgraded (as defined in the agreements). Further, the senior notes contain a provision that repayment of the senior notes may be accelerated if the Company experiences a change in control (as defined in the agreements). The Company’s borrowings under its senior notes contain minimal covenants, primarily restrictions on liens. Under its revolving credit facilities, covenants include restrictions on liens, a maximum debt to earnings ratio, a minimum fixed charge coverage ratio and a change of control provision that may require acceleration of the repayment obligations under certain circumstances. All of the repayment obligations under its borrowing arrangements may be accelerated and come due prior to the scheduled payment date if covenants are breached or an event of default occurs. As of August 31, 2019, the Company was in compliance with all covenants related to its borrowing arrangements. All of the Company’s debt is unsecured. Scheduled maturities of debt are as follows: (in thousands) Scheduled 2020 $ 1,030,000 2021 750,000 2022 500,000 2023 800,000 2024 300,000 Thereafter 1,850,000 Subtotal 5,230,000 Discount and debt issuance costs 23,656 Total Debt $ 5,206,344 The fair value of the Company’s debt was estimated at $5.419 billion as of August 31, 2019, and $4.948 billion as of August 25, 2018, based on the quoted market prices for the same or similar issues or on the current rates available to the Company for debt of the same terms (Level 2). Such fair value is greater than the carrying value of debt by $212.7 million at August 31, 2019, which reflects face amount, adjusted for any unamortized debt issuance costs and discounts. At August 25, 2018, the fair value was less than the carrying value of debt by $57.5 million.

Interest Expense

Interest Expense	12 Months Ended
	Aug. 31, 2019
Banking and Thrift, Interest [Abstract]
Interest Expense	Note J – Interest Expense Net interest expense consisted of the following: Year Ended (in thousands) August 31, August 25, August 26, Interest expense $ 193,671 $ 181,668 $ 159,329 Interest income (7,396 ) (5,636 ) (3,502 ) Capitalized interest (1,471 ) (1,505 ) (1,247 ) $ 184,804 $ 174,527 $ 154,580

Stock Repurchase Program

Stock Repurchase Program	12 Months Ended
	Aug. 31, 2019
Equity [Abstract]
Stock Repurchase Program	Note K – Stock Repurchase Program During 1998, the Company announced a program permitting the Company to repurchase a portion of its outstanding shares not to exceed a dollar maximum established by the Board. The program was amended on September 26, 2018 to increase the repurchase authorization to $20.9 billion from $19.65 billion and on March 20, 2019 to increase the repurchase authorization to $21.9 billion from $20.9 billion. From January 1998 to August 31, 2019, the Company has repurchased a total of 146.9 million shares at an aggregate cost of $21.423 billion. The Company’s share repurchase activity consisted of the following: Year Ended (in thousands) August 31, August 25, August 26, Amount $ 2,004,896 $ 1,592,013 $ 1,071,649 Shares 2,182 2,398 1,495 During fiscal year 2019, the Company retired 2.6 million shares of treasury stock which had previously been repurchased under the Company’s share repurchase program. The retirement increased Retained deficit by $1.707 billion and decreased Additional paid-in paid-in On October 7, 2019, the Board voted to authorize the repurchase of an additional $1.25 billion of the Company’s common stock in connection with our ongoing share repurchase program. Since the inception of the repurchase program in 1998, the Board has authorized $23.2 billion in share repurchases. Subsequent to August 31, 2019, the Company has repurchased 259,384 284.6 1.44

Pension and Savings Plans

Pension and Savings Plans	12 Months Ended
	Aug. 31, 2019
Retirement Benefits [Abstract]
Pension and Savings Plans	Note L – Pension and Savings Plans Prior to January 1, 2003, substantially all full-time employees were covered by a defined benefit pension plan. The benefits under the plan were based on years of service and the employee’s highest consecutive five-year average compensation. On January 1, 2003, the plan was frozen, resulting in pension plan participants earning no new benefits under the plan formula and no new participants joining the pension plan. On January 1, 2003, the Company’s supplemental defined benefit pension plan for certain highly compensated employees was also frozen, resulting in pension plan participants earning no new benefits under the plan formula and no new participants joining the pension plan. On December 19, 2017, the Board of Directors approved a resolution to terminate both of the Company’s pension plans, effective March 15, 2018. The Company offered plan participants the option to receive an annuity purchased from an insurance carrier or a lump-sum lump-sum non-cash i The following table sets forth the plans’ funded status: (in thousands) August 25, (1) Change in Projected Benefit Obligation: Projected benefit obligation at beginning of year $ 314,724 Interest cost 10,356 Actuarial (gains) losses (676 ) Annuities purchased (157,589 ) Benefits and settlements paid (166,815 ) Benefit obligations at end of year $ — Change in Plan Assets: Fair value of plan assets at beginning of year $ 316,267 Actual return on plan assets (3,428 ) Employer contributions 11,596 Annuities purchased (157,589 ) Benefits and settlements paid (166,815 ) Asset reversion upon termination (31 ) Fair value of plan assets at end of year $ — (1) The pension plans were terminated in fiscal 2018. Net periodic benefit expense consisted of the following: Year Ended (in thousands) August 25, (1) August 26, Interest cost $ 10,356 $ 10,335 Expected return on plan assets (18,997 ) (20,056 ) Recognized net actuarial losses 10,736 13,873 Settlement loss 130,263 — Net periodic benefit expense $ 132,358 $ 4,152 (1) The pension plans were terminated in fiscal 2018. The blended actuarial assumptions used in determining the projected benefit obligation include the following: Year Ended August 25, (1) August 26, Discount rate to determine benefit obligation 3.86 % 3.86 % Discount rate to determine net interest cost 3.36 % 3.21 % Expected long-term rate of return on plan assets 6.00 % 7.00 % (1) The pension plans were terminated in fiscal 2018. The Company has a 401(k) plan that covers all domestic employees who meet the plan’s participation requirements. The plan features include Company matching contributions, immediate 100% vesting of Company contributions and a savings option up to 25% of qualified earnings. The Company makes matching contributions, per pay period, up to a specified percentage of employees’ contributions as approved by the Board. The Company made matching contributions to employee accounts in connection with the 401(k) plan of $25.8 million in fiscal 2019, $23.1 million in fiscal 2018, and $21.0 million in fiscal 2017.

Sale of Assets

Sale of Assets	12 Months Ended
	Aug. 31, 2019
Property, Plant and Equipment [Abstract]
Sale of Assets	Note M – Sale of Assets During the second quarter of fiscal 2018, the Company determined that the approximate fair value less costs to sell its IMC and AutoAnything businesses was significantly lower than the carrying value of the net assets based on recent offers received and recorded impairment charges totaling $193.2 million within Operating, selling, general and administrative expenses in its Condensed Consolidated Statements of Income. The Company recorded an impairment charge of $93.6 million for its IMC business, which was reflected as a component of Auto Parts Locations in its segment reporting in fiscal 2018. Impairment charges for AutoAnything, which were reflected as a component of the Other category in the Company’s segment reporting, totaled $99.6 million in fiscal 2018. During the third quarter of fiscal 2018, the Company completed the IMC and AutoAnything sales

Goodwill and Intangibles

Goodwill and Intangibles	12 Months Ended
	Aug. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangibles	Note N – Goodwill and Intangibles The changes in the carrying amount of goodwill are as follows: (in thousands) Auto Parts Other Total Net balance as of August 26, 2017 $ 326,703 $ 65,184 $ 391,887 Goodwill adjustments (24,058 ) (65,184 ) (89,242 ) Net balance as of August 25, 2018 (1) 302,645 — 302,645 Goodwill adjustments — — — Net balance as of August 31, 2019 $ 302,645 $ — $ 302,645 (1) During the second quarter of fiscal 2018, the Company recorded impairment charges related to its IMC and AutoAnything businesses. See “Note M – Sale of Assets” for further discussion. The Company performs its annual goodwill and intangibles impairment test in the fourth quarter of each fiscal year. In the fourth quarter of fiscal 2019 and 2018, the Company concluded its remaining goodwill was not impaired. Total accumulated goodwill impairment as of August 31, 2019 and August 25, 2018 was $107.5 million. The carrying amounts of intangible assets are included in Other long-term assets as follows: August 31, 2019 (in thousands) Estimated Life Gross Accumulated Net Carrying Amortizing intangible assets: Technology 3-5 $ 870 $ (870 ) $ — Customer relationships 3-10 29,376 (23,760 ) 5,616 $ 30,246 $ (24,630 ) 5,616 Total intangible assets other than goodwill $ 5,616 August 25, 2018 (1) (in thousands) Estimated Gross Accumulated Net Carrying Amortizing intangible assets: Technology 3-5 years $ 870 $ (870 ) $ — Customer relationships 3-10 years 29,376 (19,587 ) 9,789 $ 30,246 $ (20,457 ) 9,789 Total intangible assets other than goodwill $ 9,789 (1) During the second quarter of fiscal 2018, the Company recorded $26.9 million of impairment charges related to AutoAnything’s and IMC’s trade names as the Company determined that the approximate fair value less costs to sell the businesses was significantly lower than the carrying value of the net assets. See “Note M – Sale of Assets” for further discussion. Trade names at August 25, 2018 reflect a total accumulated impairment of $31.0 million. Amortization expense of intangible assets for the years ended August 31, 2019 and August 25, 2018 was $4.2 million and $5.1 million, respectively. Total future amortization expense for intangible assets that have finite lives, based on the existing intangible assets and their current estimated useful lives as of August 31, 2019, is estimated as follows: (in thousands) Total 2020 $ 4,173 2021 1,443 Thereafter — $ 5,616

Leases

Leases	12 Months Ended
	Aug. 31, 2019
Leases [Abstract]
Leases	Note O – Leases The Company leases some of its retail stores, distribution centers, facilities, land and equipment, including vehicles. Other than vehicle leases, most of the leases are operating leases, which include renewal options made at the Company’s election and provisions for percentage rent based on sales. Rental expense was $332.7 million in fiscal 2019, $315.6 million in fiscal 2018, and $302.9 million in fiscal 2017. Percentage rentals were insignificant. The Company records rent for all operating leases on a straight-line basis over the lease term, including any reasonably assured renewal periods and the period of time prior to the lease term that the Company is in possession of the leased space for the purpose of installing leasehold improvements. Differences between recorded rent expense and cash payments are recorded as a liability in Accrued expenses and other and Other long-term liabilities in the accompanying Consolidated Balance Sheets, based on the terms of the lease. The deferred rent approximated $159.9 million on August 31, 2019, and $139.6 million on August 25, 2018. The Company has a fleet of vehicles used for delivery to its commercial customers and stores and travel for members of field management. The majority of these vehicles are held under capital leases. At August 31, 2019, the Company had capital lease assets of $182.0 million, net of accumulated amortization of $81.2 million, and capital lease obligations of $179.9 million, of which $56.2 million is classified as Accrued expenses and other as it represents the current portion of these obligations. At August 25, 2018, the Company had capital lease assets of $156.8 million, net of accumulated amortization of $79.9 million, and capital lease obligations of $154.3 million, of which $52.3 million is classified as Accrued expenses and other as it represents the current portion of these obligations. Future minimum annual rental commitments under non-cancelable (in thousands) Operating Capital 2020 $ 315,424 $ 56,246 2021 302,056 51,679 2022 281,287 39,094 2023 252,868 28,401 2024 221,213 7,300 Thereafter 824,244 — Total minimum payments required $ 2,197,092 182,720 Less: Interest (2,815 ) Present value of minimum capital lease payments $ 179,905

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Aug. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note P – Commitments and Contingencies Construction commitments, primarily for new stores, totaled approximately $38.0 million at August 31, 2019. The Company had $101.2 million in outstanding standby letters of credit and $36.7 million in surety bonds as of August 31, 2019, which all have expiration periods of less than one year. A substantial portion of the outstanding standby letters of credit (which are primarily renewed on an annual basis) and surety bonds are used to cover reimbursement obligations to our workers’ compensation carriers. There are no additional contingent liabilities associated with these instruments as the underlying liabilities are already reflected in the Consolidated Balance Sheets. The standby letters of credit and surety bonds arrangements have automatic renewal clauses.

Litigation

Litigation	12 Months Ended
	Aug. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Litigation	Note Q – Litigation In July 2014, we received a subpoena from the District Attorney of the County of Alameda, along with other environmental prosecutorial offices in the State of California, seeking documents and information related to the handling, storage and disposal of hazardous waste; a Complaint regarding the matter was subsequently filed by the District Attorney and the State Attorney General’s Office. The Company cooperated fully with the District Attorney and the State Attorney General’s Office to resolve the matter in fiscal 2019 without a finding of liability on the part of the Company. The amount the Company agreed to pay was within the amount previously accrued by the Company for the matter. Arising out of an April 2016 letter from the California Air Resources Board (“CARB”), one of our formerly-owned subsidiaries was sued in March 2018 by CARB and the State of California seeking penalties, among other relief, for alleged violations of the California Health and Safety Code, Title 13 of the California Code of Regulations and the California Vehicle Code related to the sale and advertisement of certain aftermarket motor vehicle pollution control parts in the State of California. On February 26, 2018, we completed our transaction to sell substantially all the assets, net of assumed liabilities related to our AutoAnything operations. As part of the sale, we retained the liability related to this lawsuit. The Company cooperated fully with CARB and the State Attorney General’s Office to resolve the matter in fiscal 2019 without a finding of liability on the part of the Company. The amount the Company agreed to pay was within the amount previously accrued by the Company for the matter. The Company is involved in various other legal proceedings incidental to the conduct of its business, including, but not limited to, several lawsuits containing class-action allegations in which the plaintiffs are current and former hourly and salaried employees who allege various wage and hour violations and unlawful termination practices. The Company does not currently believe that, either individually or in the aggregate, these matters will result in liabilities material to the Company’s financial condition, results of operations or cash flows.

Revenue Recognition

Revenue Recognition	12 Months Ended
	Aug. 31, 2019
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Note R – Revenue Recognition The Company adopted ASU 2014-09, 2014-09 There were no material contract assets, contract liabilities or deferred contract costs recorded on the Condensed Consolidated Balance Sheet as of August 31, 2019. Revenue related to unfulfilled performance obligations as of August 31, 2019 is not significant. Refer to “Note S – Segment Reporting” for additional information related to revenue recognized during the period.

Segment Reporting

Segment Reporting	12 Months Ended
	Aug. 31, 2019
Segment Reporting [Abstract]
Segment Reporting	Note S – Segment Reporting The Company’s operating segments (Domestic Auto Parts, Mexico and Brazil; and IMC results through April 4, 2018) are aggregated as one reportable segment: Auto Parts Locations. The criteria the Company used to identify the reportable segment are primarily the nature of the products the Company sells and the operating results that are regularly reviewed by the Company’s chief operating decision maker to make decisions about the resources to be allocated to the business units and to assess performance. The accounting policies of the Company’s reportable segment are the same as those described in “Note A – Significant Accounting Policies.” The Auto Parts Locations segment is a retailer and distributor of automotive parts and accessories through the Company’s 6,411 locations in the United States, Puerto Rico, Saint Thomas, Mexico and Brazil. Each location carries an extensive product line for cars, sport utility vehicles, vans and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories and non-automotive The Other category reflects business activities of three operating segments that are not separately reportable due to the materiality of these operating segments. The operating segments include ALLDATA, which produces, sells and maintains diagnostic and repair information software used in the automotive repair industry; E-commerce, The Company evaluates its reportable segment primarily on the basis of net sales and segment profit, which is defined as gross profit. The following table shows segment results for the following fiscal years: Year Ended (in thousands) August 31, August 25, August 26, Net Sales: Auto Parts Locations $ 11,645,235 $ 10,951,498 $ 10,523,272 Other 218,508 269,579 365,404 Total $ 11,863,743 $ 11,221,077 $ 10,888,676 Segment Profit: Auto Parts Locations $ 6,209,229 $ 5,805,561 $ 5,544,494 Other 155,772 168,185 195,126 Gross profit 6,365,001 5,973,746 5,739,620 Operating, selling, general and administrative expenses (1) (4,148,864 ) (4,162,890 ) (3,659,551 ) Interest expense, net (184,804 ) (174,527 ) (154,580 ) Income before income taxes $ 2,031,333 $ 1,636,329 $ 1,925,489 Segment Assets: Auto Parts Locations $ 9,781,926 $ 9,231,021 $ 8,964,371 Other 113,987 115,959 295,410 Total $ 9,895,913 $ 9,346,980 $ 9,259,781 Capital Expenditures: Auto Parts Locations $ 479,120 $ 499,762 $ 533,304 Other 16,930 22,026 20,528 Total $ 496,050 $ 521,788 $ 553,832 Auto Parts Locations Sales by Product Grouping: Failure $ 5,728,294 $ 5,338,890 $ 5,100,702 Maintenance items 4,140,987 3,914,546 3,774,386 Discretionary 1,775,954 1,698,062 1,648,184 Auto Parts Locations net sales $ 11,645,235 $ 10,951,498 $ 10,523,272 (1) Operating, selling, general and administrative expenses for fiscal 2018 include $130.3 million related to pension termination charges and $193.2 million related to impairment charges.

Quarterly Summary

Quarterly Summary	12 Months Ended
	Aug. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Quarterly Summary	Note T – Quarterly Summary (1) (Unaudited) Twelve Weeks Ended Seventeen Weeks (in thousands, except per share data) November 17, February 9, May 4, 2019 August 31, (2) Net sales $ 2,641,733 $ 2,450,568 $ 2,783,006 $ 3,988,435 Gross profit 1,417,474 1,325,107 1,492,020 2,130,400 Operating profit 487,818 400,020 547,523 780,775 Income before income taxes 448,812 358,658 504,284 719,578 Net income (5) 351,406 294 , 405,949 565,228 Basic earnings per share 13.71 11.71 16.35 23.15 Diluted earnings per share 13.47 11.49 15.99 22.59 Twelve Weeks Ended Sixteen Weeks (in thousands, except per share data) November 18, February 10, (3)(5) May 5, 2018 (5) August 25, (2)(4)(5) Net sales $ 2,589,131 $ 2,413,026 $ 2,660,152 $ 3,558,769 Gross profit 1,365,848 1,277,046 1,422,974 1,907,879 Operating profit 468,754 205,098 545,765 591,239 Income before income taxes 429,865 165,758 503,807 536,899 Net income 281,003 289,530 366,721 400,282 Basic earnings per share 10.17 10.58 13.62 15.27 Diluted earnings per share 10.00 10.38 13.42 15.02 (1) The sum of quarterly amounts may not equal the annual amounts reported due to rounding. In addition, the earnings per share amounts are computed independently for each quarter while the full year is based on the annual weighted average shares outstanding. (2) The fourth quarter for fiscal 2019 is based on a 17-week 16-week 12-week (3) The second quarter of fiscal 2018 includes impairment charges of $193.2 million. See “Note M – Sale of Assets.” (4) The fourth quarter of fiscal 2018 includes pension termination charges of $130.3 million. See “Note L - (5) Net income of the second, third and fourth quarter of fiscal 2018 and all of fiscal 2019 benefitted from changes due to Tax Reform. See “Note D – Income Taxes.”

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Aug. 31, 2019
Accounting Policies [Abstract]
Business	Business: 5,772 604 35 non-automotive non-automotive
Fiscal Year	Fiscal Year:
Basis of Presentation	Basis of Presentation:
Use of Estimates	Use of Estimates:
Cash and Cash Equivalents	Cash and Cash Equivalents: 90 days or less less than five days Cash balances are held in various locations around the world. Cash and cash equivalents of $ 49.9
Accounts Receivable	Accounts Receivable:
Merchandise Inventories	Merchandise Inventories: last-in, first-out
Marketable Securities	Marketable Debt Securities: available-for-sale.
Property and Equipment	Property and Equipment: 40 50 5 15 3 10
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets:
Goodwill	Goodwill:
Intangible Assets	Intangible Assets:
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities: AutoZone’s financial market risk results primarily from changes in interest rates. At times, AutoZone reduces its exposure to changes in interest rates by entering into various interest rate hedge instruments such as interest rate swap contracts, treasury lock agreements and forward-starting interest rate swaps. All of the Company’s interest rate hedge instruments are designated as cash flow hedges. Refer to “Note H – Derivative Financial Instruments” for additional disclosures regarding the Company’s derivative instruments and hedging activities. Cash flows related to these instruments designated as qualifying hedges are reflected in the accompanying Consolidated Statements of Cash Flows in the same categories as the cash flows from the items being hedged. Accordingly, cash flows relating to the settlement of interest rate derivatives hedging the forecasted issuance of debt have been reflected upon settlement as a component of financing cash flows. The resulting gain or loss from such settlement is deferred to Accumulated Other Comprehensive Loss and reclassified to interest expense over the term of the underlying debt. This reclassification of the deferred gains and losses impacts the interest expense recognized on the underlying debt that was hedged and is therefore reflected as a component of operating cash flows in periods subsequent to settlement.
Foreign Currency	Foreign Currency: German
Self-Insurance Reserves	Self-Insurance Reserves: The Company retains a significant portion of the risks associated with workers’ compensation, general liability, products liability, property and vehicle insurance. The Company obtains third party insurance to limit the exposure related to certain of these risks. The reserve for the Company’s liability associated with these risks totaled $207.0 million and $203.1 million at August 31, 2019 and August 25, 2018, respectively. The assumptions made by management in estimating its self-insurance reserves include consideration of historical cost experience, judgments about the present and expected levels of cost per claim and retention levels. The Company utilizes various methods, including analyses of historical trends and use of a specialist, to estimate the costs to settle reported claims and claims incurred but not yet reported. The actuarial methods develop estimates of the future ultimate claim costs based on claims incurred as of the balance sheet date. When estimating these liabilities, the Company considers factors, such as the severity, duration and frequency of claims, legal costs associated with claims, healthcare trends and projected inflation of related factors. The Company’s liabilities for workers’ compensation, general and product liability, property and vehicle claims do not have scheduled maturities; however, the timing of future payments is predictable based on historical patterns and is relied upon in determining the current portion of these liabilities. Accordingly, the Company reflects the net present value of the obligations it determines to be long-term using the risk-free interest rate as of the balance sheet date.
Deferred Rent	Deferred Rent:
Financial Instruments	Financial Instruments:
Income Taxes	Income Taxes: The Company recognizes liabilities for uncertain income tax positions based on a two-step more than 50% The Company classifies interest related to income tax liabilities, and if applicable, penalties, as a component of Income tax expense. The income tax liabilities and accrued interest and penalties that are expected to be payable within one year of the balance sheet date are presented within the Accrued expenses and other caption in the accompanying Consolidated Balance Sheets. The remaining portion of the income tax liabilities and accrued interest and penalties are presented within the Other long-term liabilities caption in the accompanying Consolidated Balance Sheets because payment of cash is not anticipated within one year of the balance sheet date. Refer to “Note D – Income Taxes” for additional disclosures regarding the Company’s income taxes.
Sales and Use Taxes	Sales and Use Taxes:
Dividends	Dividends:
Revenue Recognition	Revenue Recognition: The Company’s performance obligations are typically satisfied when the customer takes possession of the merchandise. Revenue from retail customers is recognized when the customer leaves our store with the purchased products, typically at the point of sale or for E-commerce same-day. pre-established - A portion of the Company’s transactions include the sale of auto parts that contain a core component. The core component represents the recyclable portion of the auto part. Customers are not charged for the core component of the new part if a used core is returned at the point of sale of the new part; otherwise the Company charges customers a specified amount for the core component. The Company refunds that same amount upon the customer returning a used core to the store at a later date. The Company does not recognize sales or cost of sales for the core component of these transactions when a used part is returned or expected to be returned from the customer.
Vendor Allowances and Advertising Costs	Vendor Allowances and Advertising Costs: Rebates and other miscellaneous incentives are earned based on purchases or product sales and are accrued ratably over the purchase or sale of the related product. These monies are generally recorded as a reduction of merchandise inventories and are recognized as a reduction to cost of sales as the related inventories are sold. For arrangements that provide for reimbursement of specific, incremental, identifiable costs incurred by the Company in selling the vendors’ products, the vendor funds are recorded as a reduction to Operating, selling, general and administrative expenses in the period in which the specific costs were incurred. The Company expenses advertising costs as incurred. Advertising expense, net of vendor promotional funds, was $87.5 million in fiscal 2019, $95.2 million in fiscal 2018, and $93.1 million in fiscal 2017. Vendor promotional funds, which reduced advertising expense, amounted to $32.2 million in fiscal 2019, $25.3 million in fiscal 2018, and $28.3 million in fiscal 2017.
Cost of Sales and Operating, Selling, General and Administrative Expenses	Cost of Sales and Operating, Selling, General and Administrative Expenses: Cost of Sales • Total cost of merchandise sold, including: • Freight expenses associated with moving merchandise inventories from the Company’s vendors to the distribution centers; • Vendor allowances that are not reimbursements for specific, incremental and identifiable costs • Costs associated with operating the Company’s supply chain, including payroll and benefit costs, warehouse occupancy costs, transportation costs and depreciation; and • Inventory shrinkage Operating, Selling, General and Administrative Expenses • Payroll and benefit costs for store, field leadership and store support employees; • Occupancy costs of store and store support facilities; • Depreciation and amortization related to store and store support assets; • Transportation costs associated with field leadership, commercial sales force and deliveries from stores; • Advertising; • Self - • Other administrative costs, such as credit card transaction fees, legal costs, supplies and travel and lodging
Warranty Costs	Warranty Costs:
Shipping and Handling Costs	Shipping and Handling Costs:
Pre-opening Expenses	Pre-opening Pre-opening
Earnings per Share	Earnings per Share
Share-Based Payments	Share-Based Payments:
Risk and Uncertainties	Risk and Uncertainties:
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements: In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU 2014-09, 2014-09, 2014-09, 2014-09 In October 2016, the FASB issued ASU 2016-16, 2016-16 2016-16
Recently Adopted and Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements: In February 2016, the FASB issued ASU 2016-02, Accounting Standard Codification 840 (“ASC 840”), two-fold right-of-use The Company established a cross-functional implementation team to implement the new standard and identify new processes and controls to ensure compliance with the new standard. The implementation team has implemented ASU 2016-02 In June 2018, the FASB issued ASU 2018-07, Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting 2018-07 2018-07 In August 2018, the FASB issued ASU 2018-15, Intangibles – Goodwill and Other Internal Use Software (Subtopic 350-40): internal-use 2018-15 In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments 2018-19, Codification Improvements to Topic 326, Financial Instruments Credit Losses. 2016-13 2016-13

Share-Based Payments (Tables)

Share-Based Payments (Tables)	12 Months Ended
	Aug. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Weighted Average for Key Assumptions Used in Determining Fair Value of Options Granted and Related Share-Based Compensation Expense	The following table presents the weighted average for key assumptions used in determining the fair value of options granted and the related share-based compensation expense: Year Ended August 31, August 25, August 26, Expected price volatility 21 % 20 % 18 % Risk-free interest rates 3.0 % 1.9 % 1.2 % Weighted average expected lives (in years) 5.6 5.1 5.1 Forfeiture rate 10 % 10 % 10 % Dividend yield 0 % 0 % 0 %
Stock Option Activity	The following table summarizes information about stock option activity for the year ended August 31, 2019: Number of Shares Weighted Average Exercise Weighted- (in years) Aggregate Intrinsic (in thousands) Outstanding – August 25, 2018 1,706,866 $ 534.74 Granted 172,750 774.33 Exercised (471,216 ) 413.60 Cancelled (59,089 ) 679.92 Outstanding – August 31, 2019 1,349,311 601.36 6.08 $ 675,097 Exercisable 793,266 528.85 4.88 454,415 Expected to vest 500,441 704.81 7.80 198,614 Available for future grants 547,519
Schedule of Nonvested Restricted Stock Units Activity	Transactions related to restricted stock units for the fiscal year ended August 31, 2019 as follow: Number of Shares Weighted- Nonvested at August 25, 2018 — — Granted 13,021 $ 786.08 Vested (2,514 ) 838.34 Canceled or forfeited (458 ) 772.80 Nonvested at August 31, 2019 10,049 $ 773.61

Accrued Expenses and Other (Tab

Accrued Expenses and Other (Tables)	12 Months Ended
	Aug. 31, 2019
Payables and Accruals [Abstract]
Accrued Expenses	Accrued expenses and other consisted of the following: (in thousands) August 31, August 25, Accrued compensation, related payroll taxes and benefits $ 170,321 $ 195,004 Property, sales, and other taxes 122,372 106,050 Medical and casualty insurance claims (current portion) 89,250 88,761 Capital lease obligations 56,246 52,290 Accrued interest 48,147 36,902 Accrued gift cards 38,658 27,401 Accrued sales and warranty returns 34,310 20,025 Other 62,628 80,461 $ 621,932 $ 606,894

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Aug. 31, 2019
Income Tax Disclosure [Abstract]
Components of Income from Continuing Operations	The components of income from continuing operations before income taxes are as follows: Year Ended (in thousands) August 31, August 25, August 26, Domestic $ 1,745,625 $ 1,412,963 $ 1,737,401 International 285,708 223,366 188,088 $ 2,031,333 $ 1,636,329 $ 1,925,489
Provision for Income Tax Expense	The provision for income tax expense consisted of the following: Year Ended (in thousands) August 31, August 25, August 26, Current: Federal $ 274,504 $ 328,963 $ 487,492 State 45,457 36,389 31,733 International 59,100 57,702 50,493 379,061 423,054 569,718 Deferred: Federal 25,757 (131,926 ) 72,208 State 6,914 8,167 7,769 International 2,380 (502 ) (5,075 ) 35,051 (124,261 ) 74,902 Income tax expense $ 414,112 $ 298,793 $ 644,620
Reconciliation of Provision for Income Taxes	A reconciliation of the provision for income taxes to the amount computed by applying the federal statutory tax rate to income before income taxes is as follows: Year Ended (in thousands) August 31, August 25, August 26, Federal tax at statutory U.S. income tax rate 21.0% 25.9% 35.0% State income taxes, net 2.0% 1.9% 1.3% Transition tax — 1.6% — Share-based compensation (1.8% ) (1.6% ) (1.4% ) Impact of tax reform (0.4% ) (9.6% ) — Other (0.4% ) 0.1% (1.4% ) Effective tax rate 20.4% 18.3% 33.5%
Significant Components of Company's Deferred Tax Assets and Liabilities	Significant components of the Company’s deferred tax assets and liabilities were as follows: (in thousands) August 31, August 25, Deferred tax assets: Net operating loss and credit carryforwards $ 42,958 $ 47,190 Accrued benefits 58,900 62,867 Other 59,237 46,375 Total deferred tax assets 161,095 156,432 Less: Valuation allowances (23,923 ) (19,619 ) Net deferred tax assets 137,172 136,813 Deferred tax liabilities: Property and equipment (114,956 ) (101,049 ) Inventory (259,827 ) (242,138 ) Prepaid expenses (46,487 ) (42,019 ) Other (1,021 ) (2,191 ) Total deferred tax liabilities (422,291 ) (387,397 ) Net deferred tax liabilities $ (285,119 ) $ (250,584 )
Reconciliation of Unrecognized Tax Benefits	A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: (in thousands) August 31, August 25, Beginning balance $ 26,077 $ 22,201 Additions based on tax positions related to the current year 8,621 8,184 Additions for tax positions of prior years 2,115 1,404 Reductions for tax positions of prior years (1,219 ) (482 ) Reductions due to settlements (1,918 ) (1,930 ) Reductions due to statute of limitations (2,784 ) (3,300 ) Ending balance $ 30,892 $ 26,077

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Aug. 31, 2019
Fair Value Disclosures [Abstract]
Company's marketable debt securities measured at Fair Value on Recurring Basis	The Company’s marketable debt securities measured at fair value on a recurring basis were as follows: August 31, 2019 (in thousands) Level 1 Level 2 Level 3 Fair Value Other current assets $ 65,344 $ 2,614 $ — $ 67,958 Other long-term assets 65,573 5,395 — 70,968 $ 130,917 $ 8,009 $ — $ 138,926 August 25, 2018 (in thousands) Level 1 Level 2 Level 3 Fair Value Other current assets $ 55,711 $ 3,733 $ — $ 59,444 Other long-term assets 58,973 16,259 — 75,232 $ 114,684 $ 19,992 $ — $ 134,676

Marketable Debt Securities (Tab

Marketable Debt Securities (Tables)	12 Months Ended
	Aug. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Available-for-Sale Marketable Securities	The Company’s available-for-sale August 31, 2019 (in thousands ) Amortized Basis Gross Gross Fair Corporate debt securities $ 36,998 $ 29 $ (19 ) $ 37,008 Government bonds 45,741 763 — 46,504 Mortgage-backed securities 2,089 2 (15 ) 2,076 Asset-backed securities and other 53,345 — (7 ) 53,338 $ 138,173 $ 794 $ (41 ) $ 138,926 August 25, 2018 (in thousands ) Amortized Basis Gross Gross Fair Corporate debt securities $ 50,306 $ — $ (684 ) $ 49,622 Government bonds 28,777 — (173 ) 28,604 Mortgage-backed securities 3,248 — (90 ) 3,158 Asset-backed securities and other 53,445 — (153 ) 53,292 $ 135,776 $ — $ (1,100 ) $ 134,676

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	12 Months Ended
	Aug. 31, 2019
Equity [Abstract]
Changes in Accumulated Other Comprehensive Loss	Changes in Accumulated Other Comprehensive Loss consisted of the following: (in thousands) Pension Liability Foreign (2) Net Derivatives Total Balance at August 26, 2017 $ (72,376 ) $ (175,814 ) $ (11 ) $ (6,356 ) $ (254,557 ) Other comprehensive income (loss) before reclassifications 77,774 (53,085 ) (800 ) — 23,889 Amounts reclassified from Accumulated Other Comprehensive Loss (1) 7,724 (4) — (62 ) (5) 1,690 (6) 9,352 Adoption of ASU 2018-02 (3) (13,122 ) — — (1,367 ) (14,489 ) Balance at August 25, 2018 — (228,899 ) (873 ) (6,033 ) (235,805 ) Other Comprehensive (Loss) income before reclassifications — (36,699 ) 1,498 — (35,201 ) Amounts reclassified from Accumulated Other Comprehensive Loss (1) — — (34 ) (5) 1,718 (6) 1,684 Balance at August 31, 2019 $ — $ (265,598 ) $ 591 $ (4,315 ) $ (269,322 ) (1) Amounts in parentheses indicate debits to Accumulated Other Comprehensive Loss (AOCL). (2) Foreign currency is shown net of U.S. tax to account for foreign currency impacts of certain undistributed non-U.S. non-U.S. (3) Represents the tax effects from deferred tax items reclassified from AOCL to retained earnings related to the adoption of ASU 2018-02. (4) The amounts reclassified from AOCL associated with our pension plans have been reclassified to Operating, selling, general and administrative expenses on the Consolidated Statements of Income as a result of the termination of the plans. See “Note L – Pension and Savings Plans” for further discussion. (5) Represents realized gains on marketable debt securities, net of taxes of $389 in fiscal 2019 and realized losses on marketable debt securities, net of tax benefit (6) Represents gains and losses on derivatives, net of taxes of $530 in fiscal 2019 and $515 in fiscal 2018, which is recorded in Interest expense, net, on the Consolidated Statements of Income. See “Note H – Derivative Financial Instruments” for further discussion.

Financing (Tables)

Financing (Tables)	12 Months Ended
	Aug. 31, 2019
Debt Disclosure [Abstract]
Schedule of Debt	The Company’s debt consisted of the following: (in thousands) August 31, 2019 August 25, 1.625% Senior Notes due April 2019, effective interest rate of 1.77% $ — $ 250,000 4.000% Senior Notes due November 2020, effective interest rate of 4.43% 500,000 500,000 2.500% Senior Notes due April 2021, effective interest rate of 2.62% 250,000 250,000 3.700% Senior Notes due April 2022, effective interest rate of 3.85% 500,000 500,000 2.875% Senior Notes due January 2023, effective interest rate of 3.21% 300,000 300,000 3.125% Senior Notes due July 2023, effective interest rate of 3.26% 500,000 500,000 3.125% Senior Notes due April 2024, effective interest rate 3.32% 300,000 — 3.250% Senior Notes due April 2025, effective interest rate 3.36% 400,000 400,000 3.125% Senior Notes due April 2026, effective interest rate of 3.28% 400,000 400,000 3.750% Senior Notes due June 2027, effective interest rate of 3.83% 600,000 600,000 3.750% Senior Notes due April 2029, effective interest rate of 3.86% 450,000 — Commercial paper, weighted average interest rate of 2.28% and 2.29% at August 31, 2019 and August 25, 2018, respectively 1,030,000 1,325,300 Total debt before discounts and debt issuance costs 5,230,000 5,025,300 Less: Discounts and debt issuance costs 23,656 19,370 Long-term debt $ 5,206,344 $ 5,005,930
Scheduled Maturities of Debt	Scheduled maturities of debt are as follows: (in thousands) Scheduled 2020 $ 1,030,000 2021 750,000 2022 500,000 2023 800,000 2024 300,000 Thereafter 1,850,000 Subtotal 5,230,000 Discount and debt issuance costs 23,656 Total Debt $ 5,206,344

Interest Expense (Tables)

Interest Expense (Tables)	12 Months Ended
	Aug. 31, 2019
Banking and Thrift, Interest [Abstract]
Net Interest Expense	Net interest expense consisted of the following: Year Ended (in thousands) August 31, August 25, August 26, Interest expense $ 193,671 $ 181,668 $ 159,329 Interest income (7,396 ) (5,636 ) (3,502 ) Capitalized interest (1,471 ) (1,505 ) (1,247 ) $ 184,804 $ 174,527 $ 154,580

Stock Repurchase Program (Table

Stock Repurchase Program (Tables)	12 Months Ended
	Aug. 31, 2019
Equity [Abstract]
Summarize Company's Share Repurchase Activity	The Company’s share repurchase activity consisted of the following: Year Ended (in thousands) August 31, August 25, August 26, Amount $ 2,004,896 $ 1,592,013 $ 1,071,649 Shares 2,182 2,398 1,495

Pension and Savings Plans (Tabl

Pension and Savings Plans (Tables)	12 Months Ended
	Aug. 31, 2019
Retirement Benefits [Abstract]
Plan's Funded Status and Amounts Recognized in Company's Consolidated Balance Sheets	The following table sets forth the plans’ funded status: (in thousands) August 25, (1) Change in Projected Benefit Obligation: Projected benefit obligation at beginning of year $ 314,724 Interest cost 10,356 Actuarial (gains) losses (676 ) Annuities purchased (157,589 ) Benefits and settlements paid (166,815 ) Benefit obligations at end of year $ — Change in Plan Assets: Fair value of plan assets at beginning of year $ 316,267 Actual return on plan assets (3,428 ) Employer contributions 11,596 Annuities purchased (157,589 ) Benefits and settlements paid (166,815 ) Asset reversion upon termination (31 ) Fair value of plan assets at end of year $ — (1) The pension plans were terminated in fiscal 2018.
Net Periodic Benefit Expense	Net periodic benefit expense consisted of the following: Year Ended (in thousands) August 25, (1) August 26, Interest cost $ 10,356 $ 10,335 Expected return on plan assets (18,997 ) (20,056 ) Recognized net actuarial losses 10,736 13,873 Settlement loss 130,263 — Net periodic benefit expense $ 132,358 $ 4,152 (1) The pension plans were terminated in fiscal 2018.
Actuarial Assumptions Used in Determining Projected Benefit Obligation	The blended actuarial assumptions used in determining the projected benefit obligation include the following: Year Ended August 25, (1) August 26, Discount rate to determine benefit obligation 3.86 % 3.86 % Discount rate to determine net interest cost 3.36 % 3.21 % Expected long-term rate of return on plan assets 6.00 % 7.00 % (1) The pension plans were terminated in fiscal 2018.

Goodwill and Intangibles (Table

Goodwill and Intangibles (Tables)	12 Months Ended
	Aug. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amount of Goodwill	The changes in the carrying amount of goodwill are as follows: (in thousands) Auto Parts Other Total Net balance as of August 26, 2017 $ 326,703 $ 65,184 $ 391,887 Goodwill adjustments (24,058 ) (65,184 ) (89,242 ) Net balance as of August 25, 2018 (1) 302,645 — 302,645 Goodwill adjustments — — — Net balance as of August 31, 2019 $ 302,645 $ — $ 302,645 (1) During the second quarter of fiscal 2018, the Company recorded impairment charges related to its IMC and AutoAnything businesses. See “Note M – Sale of Assets” for further discussion.
Schedule of Carrying Amounts of Intangible Assets	The carrying amounts of intangible assets are included in Other long-term assets as follows: August 31, 2019 (in thousands) Estimated Life Gross Accumulated Net Carrying Amortizing intangible assets: Technology 3-5 $ 870 $ (870 ) $ — Customer relationships 3-10 29,376 (23,760 ) 5,616 $ 30,246 $ (24,630 ) 5,616 Total intangible assets other than goodwill $ 5,616 August 25, 2018 (1) (in thousands) Estimated Gross Accumulated Net Carrying Amortizing intangible assets: Technology 3-5 years $ 870 $ (870 ) $ — Customer relationships 3-10 years 29,376 (19,587 ) 9,789 $ 30,246 $ (20,457 ) 9,789 Total intangible assets other than goodwill $ 9,789 (1) During the second quarter of fiscal 2018, the Company recorded $26.9 million of impairment charges related to AutoAnything’s and IMC’s trade names as the Company determined that the approximate fair value less costs to sell the businesses was significantly lower than the carrying value of the net assets. See “Note M – Sale of Assets” for further discussion. Trade names at August 25, 2018 reflect a total accumulated impairment of $31.0 million.
Schedule of Future Amortization Expense for Finite Lived Intangible Assets	Total future amortization expense for intangible assets that have finite lives, based on the existing intangible assets and their current estimated useful lives as of August 31, 2019, is estimated as follows: (in thousands) Total 2020 $ 4,173 2021 1,443 Thereafter — $ 5,616

Leases (Tables)

Leases (Tables)	12 Months Ended
	Aug. 31, 2019
Leases [Abstract]
Future Minimum Annual Rental Commitments Under Non-Cancelable Operating Leases and Capital Leases	Future minimum annual rental commitments under non-cancelable (in thousands) Operating Capital 2020 $ 315,424 $ 56,246 2021 302,056 51,679 2022 281,287 39,094 2023 252,868 28,401 2024 221,213 7,300 Thereafter 824,244 — Total minimum payments required $ 2,197,092 182,720 Less: Interest (2,815 ) Present value of minimum capital lease payments $ 179,905

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Aug. 31, 2019
Segment Reporting [Abstract]
Segment Results	The Company evaluates its reportable segment primarily on the basis of net sales and segment profit, which is defined as gross profit. The following table shows segment results for the following fiscal years: Year Ended (in thousands) August 31, August 25, August 26, Net Sales: Auto Parts Locations $ 11,645,235 $ 10,951,498 $ 10,523,272 Other 218,508 269,579 365,404 Total $ 11,863,743 $ 11,221,077 $ 10,888,676 Segment Profit: Auto Parts Locations $ 6,209,229 $ 5,805,561 $ 5,544,494 Other 155,772 168,185 195,126 Gross profit 6,365,001 5,973,746 5,739,620 Operating, selling, general and administrative expenses (1) (4,148,864 ) (4,162,890 ) (3,659,551 ) Interest expense, net (184,804 ) (174,527 ) (154,580 ) Income before income taxes $ 2,031,333 $ 1,636,329 $ 1,925,489 Segment Assets: Auto Parts Locations $ 9,781,926 $ 9,231,021 $ 8,964,371 Other 113,987 115,959 295,410 Total $ 9,895,913 $ 9,346,980 $ 9,259,781 Capital Expenditures: Auto Parts Locations $ 479,120 $ 499,762 $ 533,304 Other 16,930 22,026 20,528 Total $ 496,050 $ 521,788 $ 553,832 Auto Parts Locations Sales by Product Grouping: Failure $ 5,728,294 $ 5,338,890 $ 5,100,702 Maintenance items 4,140,987 3,914,546 3,774,386 Discretionary 1,775,954 1,698,062 1,648,184 Auto Parts Locations net sales $ 11,645,235 $ 10,951,498 $ 10,523,272 (1) Operating, selling, general and administrative expenses for fiscal 2018 include $130.3 million related to pension termination charges and $193.2 million related to impairment charges.

Quarterly Summary (Tables)

Quarterly Summary (Tables)	12 Months Ended
	Aug. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Quarterly Summary	Twelve Weeks Ended Seventeen Weeks (in thousands, except per share data) November 17, February 9, May 4, 2019 August 31, (2) Net sales $ 2,641,733 $ 2,450,568 $ 2,783,006 $ 3,988,435 Gross profit 1,417,474 1,325,107 1,492,020 2,130,400 Operating profit 487,818 400,020 547,523 780,775 Income before income taxes 448,812 358,658 504,284 719,578 Net income (5) 351,406 294 , 405,949 565,228 Basic earnings per share 13.71 11.71 16.35 23.15 Diluted earnings per share 13.47 11.49 15.99 22.59 Twelve Weeks Ended Sixteen Weeks (in thousands, except per share data) November 18, February 10, (3)(5) May 5, 2018 (5) August 25, (2)(4)(5) Net sales $ 2,589,131 $ 2,413,026 $ 2,660,152 $ 3,558,769 Gross profit 1,365,848 1,277,046 1,422,974 1,907,879 Operating profit 468,754 205,098 545,765 591,239 Income before income taxes 429,865 165,758 503,807 536,899 Net income 281,003 289,530 366,721 400,282 Basic earnings per share 10.17 10.58 13.62 15.27 Diluted earnings per share 10.00 10.38 13.42 15.02 (1) The sum of quarterly amounts may not equal the annual amounts reported due to rounding. In addition, the earnings per share amounts are computed independently for each quarter while the full year is based on the annual weighted average shares outstanding. (2) The fourth quarter for fiscal 2019 is based on a 17-week 16-week 12-week (3) The second quarter of fiscal 2018 includes impairment charges of $193.2 million. See “Note M – Sale of Assets.” (4) The fourth quarter of fiscal 2018 includes pension termination charges of $130.3 million. See “Note L - (5) Net income of the second, third and fourth quarter of fiscal 2018 and all of fiscal 2019 benefitted from changes due to Tax Reform. See “Note D – Income Taxes.”

Significant Accounting polici_3

Significant Accounting policies - Additional Information (Detail) $ in Thousands	12 Months Ended
	Aug. 31, 2019USD ($)StoreProductshares	Aug. 25, 2018USD ($)shares	Aug. 26, 2017USD ($)shares	Aug. 27, 2016USD ($)
Significant Accounting Policies [Line Items]
Number of stores with commercial sales program | Store	4,893
Description of reporting periods	Fiscal Year: The Company’s fiscal year consists of 52 or 53 weeks ending on the last Saturday in August. Fiscal 2019 represented 53 weeks. Fiscal 2018 and 2017 represented 52 weeks.
Cash and cash equivalents	$ 176,300	$ 217,824	$ 293,270	$ 189,734
Allowances for uncollectible accounts	8,500	6,100
Unrecorded adjustment for LIFO value in excess of replacement value	404,900	452,400
Self insurance reserve	207,000	203,100
Deferred rent	$ 159,900	139,600
Measure of income tax benefit for uncertain income tax positions	more than 50%
Advertising expense, net of vendor promotional funds	$ 87,500	95,200	93,100
Vendor promotional funds, which reduced advertising expense	$ 32,200	25,300	$ 28,300
Limited warranty period, minimum period (Days)	30 days
Products accounted for total revenues	one class of similar products accounted for approximately 13 percent of the Company's total revenues, No other class of similar products accounted for 10 percent or more of total revenues
Products accounted for total purchases	one vendor supplied approximately 12 percent of the Company's total purchases. No other class of similar products accounted for 10 percent or more of total revenues
Accounting Standards Update 2016-02 [Member]
Significant Accounting Policies [Line Items]
weighted average discount rate	3.60%
Cash Equivalents [Member]
Significant Accounting Policies [Line Items]
Maturity period of investments	90 days or less
Settlement term of credit and debit card transaction	less than five days
Credit and debit card receivables included within cash and cash equivalents	$ 59,400	$ 51,000
Product Concentration Risk [Member]
Significant Accounting Policies [Line Items]
Number of class of similar products accounted for approximately 13% of the company's total revenues | Product	1
Stock Options [Member]
Significant Accounting Policies [Line Items]
Anti-dilutive shares excluded from the computation of earnings per share | shares	90,314	847,279	620,025
Minimum [Member]
Significant Accounting Policies [Line Items]
Amortization of intangible assets	3 years
Minimum [Member] | Accounting Standards Update 2016-02 [Member]
Significant Accounting Policies [Line Items]
ROU assets	$ 2,500
Lease Liabilities	$ 2,500
Minimum [Member] | Building [Member]
Significant Accounting Policies [Line Items]
Estimated useful lives	40 years
Minimum [Member] | Building Improvements [Member]
Significant Accounting Policies [Line Items]
Estimated useful lives	5 years
Minimum [Member] | Equipment [Member]
Significant Accounting Policies [Line Items]
Estimated useful lives	3 years
Minimum [Member] | Product Concentration Risk [Member] | Sales Revenue, Net [Member]
Significant Accounting Policies [Line Items]
Concentration risk percentage	10.00%
Minimum [Member] | Supplier Concentration Risk [Member] | Cost of Goods, Total [Member]
Significant Accounting Policies [Line Items]
Concentration risk percentage	10.00%
Maximum [Member]
Significant Accounting Policies [Line Items]
Amortization of intangible assets	10 years
Maximum [Member] | Accounting Standards Update 2016-02 [Member]
Significant Accounting Policies [Line Items]
ROU assets	$ 2,800
Lease Liabilities	$ 2,800
Maximum [Member] | Building [Member]
Significant Accounting Policies [Line Items]
Estimated useful lives	50 years
Maximum [Member] | Building Improvements [Member]
Significant Accounting Policies [Line Items]
Estimated useful lives	15 years
Maximum [Member] | Equipment [Member]
Significant Accounting Policies [Line Items]
Estimated useful lives	10 years
Maximum [Member] | Product Concentration Risk [Member] | Sales Revenue, Net [Member]
Significant Accounting Policies [Line Items]
Concentration risk percentage	13.00%
Maximum [Member] | Supplier Concentration Risk [Member] | Cost of Goods, Total [Member]
Significant Accounting Policies [Line Items]
Concentration risk percentage	12.00%
Stores in the United States Including Puerto Rico [Member]
Significant Accounting Policies [Line Items]
Number of stores | Store	5,772
Brazil [Member]
Significant Accounting Policies [Line Items]
Number of stores | Store	35
Mexico [Member]
Significant Accounting Policies [Line Items]
Number of stores | Store	604
Non-US [Member]
Significant Accounting Policies [Line Items]
Cash and cash equivalents	$ 49,900	$ 98,800

Share-Based Payments - Addition

Share-Based Payments - Additional Information (Detail) - USD ($)	12 Months Ended
	Aug. 31, 2019	Aug. 25, 2018	Aug. 26, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value of options granted	$ 208.37	$ 129.12	$ 139.80
Total share-based compensation expense related to stock options and share purchase plans	$ 43,255,000	$ 43,674,000	$ 38,244,000
Exercise period of vested options after death	1 year
Restricted stock units granted under Director Compensation Program, description	Under the 2011 Program, restricted stock units were granted the first day of each calendar quarter. The number of restricted stock units granted each quarter was determined by dividing one-fourth of the amount of the annual retainer by the fair market value of the shares of common stock as of the grant date.
Intrinsic value of options exercised	$ 227,400,000	123,100,000	93,900,000
Total fair value of options vested	34,500,000	35,700,000	34,700,000
Expense related to the discount on the selling of shares to employees and executives	$ 2,800,000	$ 2,100,000	$ 1,800,000
Shares sold to employees under employee stock purchase plan	11,011	14,523	14,205
Shares purchased from employees at fair value	17,201	11,816	12,455
Common stock reserved for future issuance	152,766
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise period of vested options after service period	90 days
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise period of vested options after service period	30 days
2003 Comp Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accrued Director fees	$ 11,200,000	$ 13,600,000
Additional shares of stock or units	0
Accrued Director fees in shares	10,206	17,710
Restated Executive Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense related to stock options and share purchase plans	$ 43,300,000	$ 43,700,000	$ 38,200,000
Share-based compensation expense for unvested awards not yet recognized in earnings	$ 34,300,000
Weighted average period recognition of share-based compensation expense for unvested awards	1 year 8 months 12 days
Shares sold to employees under employee stock purchase plan	1,483	1,840	1,865
Common stock reserved for future issuance	236,565
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non vested restricted stock unit award	$ 5,600,000
Estimated weighted average period	3 years 1 month 6 days
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of options from grant date	10 years or 10 years and one day

Share-Based Payments - Weighted

Share-Based Payments - Weighted Average for Key Assumptions Used in Determining Fair Value of Options Granted and Related Share-Based Compensation Expense (Detail)	12 Months Ended
	Aug. 31, 2019	Aug. 25, 2018	Aug. 26, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Expected price volatility	21.00%	20.00%	18.00%
Risk-free interest rates	3.00%	1.90%	1.20%
Weighted average expected lives (in years)	5 years 7 months 6 days	5 years 1 month 6 days	5 years 1 month 6 days
Forfeiture rate	10.00%	10.00%	10.00%
Dividend yield	0.00%	0.00%	0.00%

Share Based Payments - Stock op

Share Based Payments - Stock option Activity (Detail) $ / shares in Units, $ in Thousands	12 Months Ended
	Aug. 31, 2019USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, Beginning balance, Number of Shares	1,706,866
Granted, Number of Shares	172,750
Exercised, Number of Shares	(471,216)
Cancelled, Number of Shares	(59,089)
Outstanding, Ending balance, Number of Shares	1,349,311
Exercisable, Number of Shares	793,266
Expected to vest, Number of Shares	500,441
Available for future grants, Number of Shares	547,519
Outstanding, Beginning balance, Weighted Average Exercise Price | $ / shares	$ 534.74
Granted, Weighted Average Exercise Price | $ / shares	774.33
Exercised, Weighted Average Exercise Price | $ / shares	413.60
Cancelled, Weighted Average Exercise Price | $ / shares	679.92
Outstanding, Ending balance, Weighted Average Exercise Price | $ / shares	601.36
Exercisable, Weighted Average Exercise Price | $ / shares	528.85
Expected to vest, Weighted Average Exercise Price | $ / shares	$ 704.81
Outstanding , Weighted-Average Remaining Contractual Term	6 years 29 days
Exercisable, Weighted-Average Remaining Contractual Term	4 years 10 months 17 days
Expected to vest, Weighted-Average Remaining Contractual Term	7 years 9 months 18 days
Outstanding, Aggregate Intrinsic Value | $	$ 675,097
Exercisable, Aggregate Intrinsic Value | $	454,415
Expected to vest, Aggregate Intrinsic Value | $	$ 198,614

Share-Based Payments - Schedule

Share-Based Payments - Schedule of Nonvested Restricted Stock Units Activity (Detail)	12 Months Ended
	Aug. 31, 2019$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested, Beginning balance, Number of Shares | shares
Granted, Number of Shares | shares	13,021
Vested, Number of Shares | shares	(2,514)
Canceled or forfeited, Number of Shares | shares	(458)
Nonvested, Ending balance, Number of Shares | shares	10,049
Nonvested, Beginning balance, Weighted Average Exercise Price | $ / shares
Granted, Weighted Average Exercise Price | $ / shares	786.08
Vested, Weighted Average Exercise Price | $ / shares	838.34
Canceled or forfeited, Weighted Average Exercise Price | $ / shares	772.80
Nonvested, Ending balance, Weighted Average Exercise Price | $ / shares	$ 773.61

Accrued Expenses and Other - Ac

Accrued Expenses and Other - Accrued Expenses (Detail) - USD ($) $ in Thousands	Aug. 31, 2019	Aug. 25, 2018
Accrued compensation, related payroll taxes and benefits	$ 170,321	$ 195,004
Property, sales, and other taxes	122,372	106,050
Medical and casualty insurance claims (current portion)	89,250	88,761
Capital lease obligations	56,246	52,290
Accrued interest	48,147	36,902
Accrued gift cards	38,658	27,401
Accrued sales and warranty returns	34,310	20,025
Other	62,628	80,461
Total	$ 621,932	$ 606,894

Accrued Expenses and Other - Ad

Accrued Expenses and Other - Additional Information (Detail)	12 Months Ended
	Aug. 31, 2019USD ($)
Workers' Compensation [Member]
Maximum limits per claim for self-insured plan, per annum	$ 2,000,000
Auto Liability [Member]
Maximum limits per claim for self-insured plan, per annum	3,000,000
Property [Member]
Maximum limits per claim for self-insured plan, per annum	21,500,000
Employee Health [Member]
Maximum limits per claim for self-insured plan, per annum	700,000
General Products Liability And Vehicle [Member]
Maximum limits per claim for self-insured plan, per annum	$ 1,000,000

Income Taxes - Components of In

Income Taxes - Components of Income from Continuing Operations (Detail) - USD ($) $ in Thousands	3 Months Ended						4 Months Ended		12 Months Ended
	May 04, 2019	Feb. 09, 2019	Nov. 17, 2018	May 05, 2018	Feb. 10, 2018	Nov. 18, 2017	Aug. 31, 2019	Aug. 25, 2018	Aug. 31, 2019	Aug. 25, 2018	Aug. 26, 2017
Income Tax Disclosure [Abstract]
Domestic									$ 1,745,625	$ 1,412,963	$ 1,737,401
International									285,708	223,366	188,088
Income before income taxes	$ 504,284	$ 358,658	$ 448,812	$ 503,807	$ 165,758	$ 429,865	$ 719,578	$ 536,899	$ 2,031,333	$ 1,636,329	$ 1,925,489

Income Taxes - Provision for In

Income Taxes - Provision for Income Tax Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2019	Aug. 25, 2018	Aug. 26, 2017
Current:
Federal	$ 274,504	$ 328,963	$ 487,492
State	45,457	36,389	31,733
International	59,100	57,702	50,493
Total	379,061	423,054	569,718
Deferred:
Federal	25,757	(131,926)	72,208
State	6,914	8,167	7,769
International	2,380	(502)	(5,075)
Total	35,051	(124,261)	74,902
Income tax expense	$ 414,112	$ 298,793	$ 644,620

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Provision for Income Taxes (Detail)	12 Months Ended
	Aug. 31, 2019	Aug. 25, 2018	Aug. 26, 2017
Federal tax at statutory U.S. income tax rate	21.00%	25.90%	35.00%
State income taxes, net	2.00%	1.90%	1.30%
Transition tax		1.60%
Share-based compensation	(1.80%)	(1.60%)	(1.40%)
Impact of tax reform	(0.40%)	(9.60%)
Other	(0.40%)	0.10%	(1.40%)
Effective tax rate	20.40%	18.30%	33.50%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2019	Aug. 25, 2018	Aug. 26, 2017
Income Tax Disclosure [Abstract]
U.S. corporate income tax rate	21.00%	25.90%	35.00%
Additional Excess tax benefits from stock option exercises compared to prior year	$ 46,000	$ 31,300	$ 31,200
Tax cuts and jobs act of 2017, incomplete accounting, provisional income tax expense (benefit)	$ 8,800	131,500
Operating loss carryforwards expiration period description	fiscal 2020 through 2039
Tax Credit Carryforward Expiration Description	fiscal 2020 through 2029.​​​​​​​
Amount of unrecognized tax benefits that could be reduced over next twelve months	$ 1,400
Accrued for payment of interest and penalties associated with unrecognized tax benefits	1,400	700
Unrecognized tax benefits, if recognized would reduce effective tax rate, amount	16,800	13,500
Valuation allowances on deferred tax assets	23,923	19,619
Deferred tax assets from net operating loss carryforwards	29,900	30,900
Future taxable income	226,300	219,100
Deferred tax assets for income tax credit carryforwards	$ 13,000	16,300
Expiration date of tax credit carryforwards start year	2020
Expiration date of tax credit carryforwards end year	2029
Expiration date of NOLs start year	2020
Expiration date of NOLs end year	2039
Tax cuts and jobs act of 2017, transition tax, provisional income tax expense	$ 25,800
Tax Cuts And Jobs Act Of 2017 Incomplete Accounting Provisional Income Tax Expense Benefit		157,300
Deferred tax assets operating loss carryforwards and tax credits	$ 11,900	$ 10,300

Income Taxes - Significant Comp

Income Taxes - Significant Components of Company's Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Aug. 31, 2019	Aug. 25, 2018
Deferred tax assets:
Net operating loss and credit carryforwards	$ 42,958	$ 47,190
Accrued benefits	58,900	62,867
Other	59,237	46,375
Total deferred tax assets	161,095	156,432
Less: Valuation allowances	(23,923)	(19,619)
Net deferred tax assets	137,172	136,813
Deferred tax liabilities:
Property and equipment	(114,956)	(101,049)
Inventory	(259,827)	(242,138)
Prepaid expenses	(46,487)	(42,019)
Other	(1,021)	(2,191)
Total deferred tax liabilities	(422,291)	(387,397)
Net deferred tax liabilities	$ (285,119)	$ (250,584)

Income Taxes - Reconciliation_2

Income Taxes - Reconciliation of Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2019	Aug. 25, 2018
Beginning balance	$ 26,077	$ 22,201
Additions based on tax positions related to the current year	8,621	8,184
Additions for tax positions of prior years	2,115	1,404
Reductions for tax positions of prior years	(1,219)	(482)
Reductions due to settlements	(1,918)	(1,930)
Reductions due to statute of limitations	(2,784)	(3,300)
Ending balance	$ 30,892	$ 26,077

Fair Value Measurements - Compa

Fair Value Measurements - Company's marketable debt securities measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Aug. 31, 2019	Aug. 25, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 138,926	$ 134,676
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other current assets	67,958	59,444
Other long-term assets	70,968	75,232
Total	138,926	134,676
Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other current assets	65,344	55,711
Other long-term assets	65,573	58,973
Total	130,917	114,684
Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other current assets	2,614	3,733
Other long-term assets	5,395	16,259
Total	$ 8,009	$ 19,992

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Aug. 31, 2019	Aug. 25, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term marketable debt securities	$ 67,958	$ 59,444
Long-term marketable debt securities	$ 70,968	$ 75,232

Marketable Debt Securities - Av

Marketable Debt Securities - Available-for-Sale Marketable Securities (Detail) - USD ($) $ in Thousands	Aug. 31, 2019	Aug. 25, 2018
Schedule of Available-for-sale Securities [Line Items]
Available-For-Sale Marketable Securities, Amortized Cost Basis	$ 138,173	$ 135,776
Available-For-Sale Marketable Securities, Gross Unrealized Gains	794
Available-For-Sale Marketable Securities, Gross Unrealized Losses	(41)	(1,100)
Available-For-Sale Marketable Securities, Fair Value	138,926	134,676
Corporate Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-For-Sale Marketable Securities, Amortized Cost Basis	36,998	50,306
Available-For-Sale Marketable Securities, Gross Unrealized Gains	29
Available-For-Sale Marketable Securities, Gross Unrealized Losses	(19)	(684)
Available-For-Sale Marketable Securities, Fair Value	37,008	49,622
Government Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-For-Sale Marketable Securities, Amortized Cost Basis	45,741	28,777
Available-For-Sale Marketable Securities, Gross Unrealized Gains	763
Available-For-Sale Marketable Securities, Gross Unrealized Losses		(173)
Available-For-Sale Marketable Securities, Fair Value	46,504	28,604
Mortgage-Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-For-Sale Marketable Securities, Amortized Cost Basis	2,089	3,248
Available-For-Sale Marketable Securities, Gross Unrealized Gains	2
Available-For-Sale Marketable Securities, Gross Unrealized Losses	(15)	(90)
Available-For-Sale Marketable Securities, Fair Value	2,076	3,158
Asset-Backed Securities and Other [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-For-Sale Marketable Securities, Amortized Cost Basis	53,345	53,445
Available-For-Sale Marketable Securities, Gross Unrealized Losses	(7)	(153)
Available-For-Sale Marketable Securities, Fair Value	$ 53,338	$ 53,292

Marketable Debt Securities - Ad

Marketable Debt Securities - Additional Information (Detail) $ in Thousands	12 Months Ended
	Aug. 31, 2019USD ($)Securities	Aug. 25, 2018USD ($)
Investments, Debt and Equity Securities [Abstract]
Available for sale securities debt maturity period range	less than one year to approximately three years​​​​​​​
Number of securities available for sale loss position | Securities	48
Available-For-Sale Marketable Securities, Gross Unrealized Losses	$ (41)	$ (1,100)
Marketable securities transferred	$ 89,200	$ 85,600

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2019	Aug. 25, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	$ (1,520,355)	$ (1,428,377)
Adoption of ASU 2018-02		14,489
Balance	(1,713,851)	(1,520,355)
Pension Liability [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance		(72,376)
Other comprehensive income (loss) before reclassifications		77,774
Amounts reclassified from Accumulated Other Comprehensive Loss		7,724
Adoption of ASU 2018-02		(13,122)
Foreign Currency [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(228,899)	(175,814)
Other comprehensive income (loss) before reclassifications	(36,699)	(53,085)
Balance	(265,598)	(228,899)
Net Unrealized Gain (Loss) on Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(873)	(11)
Other comprehensive income (loss) before reclassifications	1,498	(800)
Amounts reclassified from Accumulated Other Comprehensive Loss	(34)	(62)
Balance	591	(873)
Derivatives [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(6,033)	(6,356)
Amounts reclassified from Accumulated Other Comprehensive Loss	1,718	1,690
Adoption of ASU 2018-02		(1,367)
Balance	(4,315)	(6,033)
Accumulated Other Comprehensive Loss [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(235,805)	(254,557)
Other comprehensive income (loss) before reclassifications	(35,201)	23,889
Amounts reclassified from Accumulated Other Comprehensive Loss	1,684	9,352
Balance	$ (269,322)	$ (235,805)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Loss (Parenthetical) (Detail) - Reclassified from Accumulated Other Comprehensive Income [Member] - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2019	Aug. 25, 2018
Net Unrealized Gain (Loss) on Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Unrealized gains (losses) on marketable securities, taxes	$ 389	$ (234)
Derivatives [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net derivative activities, taxes	$ 530	$ 515

Derivative Financial Instrume_2

Derivative Financial Instruments - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2019	Aug. 25, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative losses recorded in Accumulated other comprehensive loss	$ 5.6
Net derivative losses amortized into Interest expense	$ 2.2	$ 2.2

Financing - Schedule of Debt (D

Financing - Schedule of Debt (Detail) - USD ($) $ in Thousands	Aug. 31, 2019	Apr. 18, 2019	Aug. 25, 2018	Apr. 18, 2017
Debt Instrument [Line Items]
Commercial paper	$ 1,030,000		$ 1,325,300
Total debt before discounts and debt issuance costs	5,230,000		5,025,300
Less: Discounts and debt issuance costs	23,656		19,370
Long-term debt	5,206,344		5,005,930
1.625% Senior Notes due April 2019, effective interest rate of 1.77% [Member]
Debt Instrument [Line Items]
Senior notes			250,000
4.000% Senior Notes due November 2020, effective interest rate of 4.43% [Member]
Debt Instrument [Line Items]
Senior notes	500,000		500,000
2.500% Senior Notes due April 2021, effective interest rate of 2.62% [Member]
Debt Instrument [Line Items]
Senior notes	250,000		250,000
3.700% Senior Notes due April 2022, effective interest rate of 3.85% [Member]
Debt Instrument [Line Items]
Senior notes	500,000		500,000
2.875% Senior Notes due January 2023, effective interest rate of 3.21% [Member]
Debt Instrument [Line Items]
Senior notes	300,000		300,000
3.125% Senior Notes due July 2023, effective interest rate of 3.26% [Member]
Debt Instrument [Line Items]
Senior notes	500,000		500,000
3.125% Senior Notes due April 2024, effective interest rate 3.32% [Member]
Debt Instrument [Line Items]
Senior notes	300,000	$ 300,000
3.250% Senior Notes due April 2025, effective interest rate 3.36% [Member]
Debt Instrument [Line Items]
Senior notes	400,000		400,000
3.125% Senior Notes due April 2026, effective interest rate of 3.28% [Member]
Debt Instrument [Line Items]
Senior notes	400,000		400,000
3.750% Senior Notes due June 2027, effective interest rate of 3.83% [Member]
Debt Instrument [Line Items]
Senior notes	600,000		$ 600,000	$ 600,000
3.750% Senior Notes due April 2029, effective interest rate of 3.86% [Member]
Debt Instrument [Line Items]
Senior notes	$ 450,000	$ 450,000

Financing - Schedule of Debt (P

Financing - Schedule of Debt (Parenthetical) (Detail)	12 Months Ended
	Aug. 31, 2019	Aug. 25, 2018
Commercial paper, weighted average interest rate of 2.28% and 2.29% at August 31, 2019 and August 25, 2018, respectively [Member]
Debt Instrument [Line Items]
Weighted average interest rate of commercial paper	2.28%	2.29%
1.625% Senior Notes due April 2019, effective interest rate of 1.77% [Member]
Debt Instrument [Line Items]
Stated interest rate percentage		1.625%
Effective interest rate		1.77%
Debt instrument maturity, month and year		2019-04
4.000% Senior Notes due November 2020, effective interest rate of 4.43% [Member]
Debt Instrument [Line Items]
Stated interest rate percentage	4.00%	4.00%
Effective interest rate	4.43%	4.43%
Debt instrument maturity, month and year	2020-11	2020-11
2.500% Senior Notes due April 2021, effective interest rate of 2.62% [Member]
Debt Instrument [Line Items]
Stated interest rate percentage	2.50%	2.50%
Effective interest rate	2.62%	2.62%
Debt instrument maturity, month and year	2021-04	2021-04
3.700% Senior Notes due April 2022, effective interest rate of 3.85% [Member]
Debt Instrument [Line Items]
Stated interest rate percentage	3.70%	3.70%
Effective interest rate	3.85%	3.85%
Debt instrument maturity, month and year	2022-04	2022-04
2.875% Senior Notes due January 2023, effective interest rate of 3.21% [Member]
Debt Instrument [Line Items]
Stated interest rate percentage	2.875%	2.875%
Effective interest rate	3.21%	3.21%
Debt instrument maturity, month and year	2023-01	2023-01
3.125% Senior Notes due July 2023, effective interest rate of 3.26% [Member]
Debt Instrument [Line Items]
Stated interest rate percentage	3.125%	3.125%
Effective interest rate	3.26%	3.26%
Debt instrument maturity, month and year	2023-07	2023-07
3.125% Senior Notes due April 2024, effective interest rate 3.32% [Member]
Debt Instrument [Line Items]
Stated interest rate percentage	3.125%
Effective interest rate	3.32%
Debt instrument maturity, month and year	2024-04
3.250% Senior Notes due April 2025, effective interest rate 3.36% [Member]
Debt Instrument [Line Items]
Stated interest rate percentage	3.25%	3.25%
Effective interest rate	3.36%	3.36%
Debt instrument maturity, month and year	2025-04	2025-04
3.125% Senior Notes due April 2026, effective interest rate of 3.28% [Member]
Debt Instrument [Line Items]
Stated interest rate percentage	3.125%	3.125%
Effective interest rate	3.28%	3.28%
Debt instrument maturity, month and year	2026-04	2026-04
3.750% Senior Notes due June 2027, effective interest rate of 3.83% [Member]
Debt Instrument [Line Items]
Stated interest rate percentage	3.75%	3.75%
Effective interest rate	3.83%	3.83%
Debt instrument maturity, month and year	2027-06	2027-06
3.750% Senior Notes due April 2029, effective interest rate of 3.86% [Member]
Debt Instrument [Line Items]
Stated interest rate percentage	3.75%
Effective interest rate	3.86%
Debt instrument maturity, month and year	2029-04

Financing - Additional Informat

Financing - Additional Information (Detail)	12 Months Ended
	Aug. 31, 2019USD ($)	Jun. 30, 2019USD ($)	Apr. 18, 2019USD ($)	Aug. 25, 2018USD ($)	Apr. 18, 2017USD ($)
Debt Instrument [Line Items]
Remaining borrowing capacity under revolving credit facility	$ 1,997,000,000
Amount available under credit facility	$ 2,000,000,000
Credit Agreement description	less than one year
Fair value of the Company's debt	$ 5,419,000,000			$ 4,948,000,000
Excess (shortfall) of fair value of debt over (from) carrying value	$ 212,700,000			57,500,000
Debt covenant interest coverage ratio	5.7
Minimum debt covenant interest coverage ratio to be maintained quarterly	2.5
Line of credit facility covenant terms	The Revolving Credit Agreement requires that the Company’s consolidated interest coverage ratio as of the last day of each quarter shall be no less than 2.5:1. This ratio is defined as the ratio of (i) consolidated earnings before interest, taxes and rents to (ii) consolidated interest expense plus consolidated rents. The Company’s consolidated interest coverage ratio as of August 31, 2019 was 5.7:1.
Other Letters Of Credit [Member]
Debt Instrument [Line Items]
Borrowings, outstanding	$ 72,900,000
Third Amended and Restated Credit Agreement [Member]
Debt Instrument [Line Items]
Amount available under credit facility	1,600,000,000
Master Extension Agreement [Member]
Debt Instrument [Line Items]
Amount available under credit facility	2,000,000,000
Revolving credit agreement, available additional borrowing capacity	400,000,000
Maximum amount available under credit facility	$ 2,400,000,000
Credit facility expiration date	Nov. 18, 2022
Credit Agreement description	Under the Revolving Credit Agreement, the Company may borrow funds consisting of Eurodollar loans, base rate loans or a combination of both. Interest accrues on Eurodollar loans at a defined Eurodollar rate, defined as LIBOR plus the applicable percentage, as defined in the Revolving Credit Agreement, depending upon the Company's senior, unsecured, (non-credit enhanced) long-term debt ratings. Interest accrues on base rate loans as defined in the Revolving Credit Agreement
Extended expiration of credit facility	0 days
Letters of credit, outstanding	$ 3,300,000
Letter of Credit [Member]
Debt Instrument [Line Items]
Maximum amount available under credit facility	25,000,000	$ 25,000,000		75,000,000
Borrowings, outstanding	25,000,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Borrowings, outstanding	0
1.625% Senior Notes due April 2019, effective interest rate of 1.77% [Member]
Debt Instrument [Line Items]
Long-term debt				$ 250,000,000
Stated interest rate percentage				1.625%
3.125% Senior Notes due April 2024, effective interest rate 3.32% [Member]
Debt Instrument [Line Items]
Long-term debt	$ 300,000,000		$ 300,000,000
Stated interest rate percentage	3.125%
3.750% Senior Notes due April 2029, effective interest rate of 3.86% [Member]
Debt Instrument [Line Items]
Long-term debt	$ 450,000,000		$ 450,000,000
Stated interest rate percentage	3.75%
3.750% Senior Notes due June 2027, effective interest rate of 3.83% [Member]
Debt Instrument [Line Items]
Long-term debt	$ 600,000,000			$ 600,000,000	$ 600,000,000
Stated interest rate percentage	3.75%			3.75%

Financing - Scheduled Maturitie

Financing - Scheduled Maturities of Debt (Detail) - USD ($) $ in Thousands	Aug. 31, 2019	Aug. 25, 2018
Debt Disclosure [Abstract]
2020	$ 1,030,000
2021	750,000
2022	500,000
2023	800,000
2024	300,000
Thereafter	1,850,000
Subtotal	5,230,000
Discount and debt issuance costs	23,656	$ 19,370
Long-term debt	$ 5,206,344	$ 5,005,930

Interest Expense - Net Interest

Interest Expense - Net Interest Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2019	Aug. 25, 2018	Aug. 26, 2017
Other Income and Expenses [Abstract]
Interest expense	$ 193,671	$ 181,668	$ 159,329
Interest income	(7,396)	(5,636)	(3,502)
Capitalized interest	(1,471)	(1,505)	(1,247)
Net Interest Expense	$ 184,804	$ 174,527	$ 154,580

Stock Repurchase Program - Addi

Stock Repurchase Program - Additional Information (Detail) - USD ($) shares in Thousands	Oct. 07, 2019	Oct. 22, 2019	Aug. 31, 2019	Aug. 25, 2018	Aug. 26, 2017	Aug. 31, 2019	Sep. 26, 2018
Equity, Class of Treasury Stock [Line Items]
Stock repurchased cumulative, shares			2,182	2,398	1,495	146,900
Purchase of treasury stock			$ 2,004,896,000	$ 1,592,013,000	$ 1,071,649,000	$ 21,423,000,000
Stock repurchase authorized			21,900,000,000	19,650,000,000		21,900,000,000	$ 20,900,000,000
Stock Repurchase Program 1998 [Member]
Equity, Class of Treasury Stock [Line Items]
Stock repurchase authorized			23,200,000,000			$ 23,200,000,000
Retained Deficit [Member]
Equity, Class of Treasury Stock [Line Items]
Retirement of treasury shares			1,706,971,000	918,462,000	1,321,070,000
Additional Paid-In Capital [Member]
Equity, Class of Treasury Stock [Line Items]
Retirement of treasury shares			$ 125,442,000	$ 60,500,000	$ 64,943,000
Common Stock [Member]
Equity, Class of Treasury Stock [Line Items]
Share of treasury stock retired			2,563	1,512	1,804
Retirement of treasury shares			$ 26,000	$ 15,000	$ 18,000
Subsequent Events [Member]
Equity, Class of Treasury Stock [Line Items]
Stock repurchased cumulative, shares		259,384
Purchase of treasury stock		$ 284,600,000
Increase in authorization of stock repurchase, value	$ 1,250,000,000
Remaining value authorized for share repurchases		$ 1,440,000,000

Stock Repurchase Program - Summ

Stock Repurchase Program - Summarize Company's Share Repurchase Activity (Detail) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended			260 Months Ended
	Aug. 31, 2019	Aug. 25, 2018	Aug. 26, 2017	Aug. 31, 2019
Equity [Abstract]
Amount	$ 2,004,896	$ 1,592,013	$ 1,071,649
Shares	2,182	2,398	1,495	146,900

Pension and Savings Plans - Add

Pension and Savings Plans - Additional Information (Detail) - USD ($)	4 Months Ended	12 Months Ended
	Aug. 25, 2018	Aug. 31, 2019	Aug. 25, 2018	Aug. 26, 2017
Retirement Benefits [Abstract]
Consecutive years of highest compensation used to determine defined benefit pension plan benefits		5 years
Annual contributions by the Company to pension plans	$ 11,400,000		$ 11,596,000
Pension termination charges (refund)	$ 130,300,000	$ (6,796,000)	130,263,000
Periodic pension benefit expense		$ 0
Percentage of company matching retirement savings plan contributions that vest immediately		100.00%
Percentage of savings option up to qualified earnings		25.00%
Annual contribution by employer towards 401(k) Plan		$ 25,800,000	$ 23,100,000	$ 21,000,000

Pension and Savings Plans - Pla

Pension and Savings Plans - Plan's Funded Status (Detail) - USD ($) $ in Thousands	4 Months Ended	12 Months Ended
	Aug. 25, 2018	Aug. 25, 2018	Aug. 26, 2017
Change in Projected Benefit Obligation:
Projected benefit obligation at beginning of year		$ 314,724
Interest cost		10,356	$ 10,335
Actuarial (gains) losses		(676)
Annuities purchased		(157,589)
Benefits and settlements paid		(166,815)
Benefit obligations at end of year			314,724
Change in Plan Assets:
Fair value of plan assets at beginning of year		316,267
Actual return on plan assets		(3,428)
Employer contributions	11,400	11,596
Annuities purchased		(157,589)
Benefits and settlements paid		(166,815)
Asset reversion upon termination		(31)
Fair value of plan assets at end of year			$ 316,267

Pension and Savings Plans - Net

Pension and Savings Plans - Net Periodic Benefit Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Aug. 25, 2018	Aug. 26, 2017
Retirement Benefits [Abstract]
Interest cost	$ 10,356	$ 10,335
Expected return on plan assets	(18,997)	(20,056)
Recognized net actuarial losses	10,736	13,873
Settlement loss	130,263
Net periodic benefit expense	$ 132,358	$ 4,152

Pension and Savings Plans - Act

Pension and Savings Plans - Actuarial Assumptions Used in Determining Projected Benefit Obligation (Detail)	12 Months Ended
	Aug. 25, 2018	Aug. 26, 2017
Retirement Benefits [Abstract]
Discount rate to determine benefit obligation	3.86%	3.86%
Discount rate to determine net interest cost	3.36%	3.21%
Expected long-term rate of return on plan assets	6.00%	7.00%

Sale of Assets - Additional Inf

Sale of Assets - Additional Information (Detail) $ in Thousands	12 Months Ended
	Aug. 25, 2018USD ($)
Business Acquisition [Line Items]
Asset impairment charges	$ 193,162
IMC Businesses [Member] | Auto Parts Locations [Member]
Business Acquisition [Line Items]
Asset impairment charges	93,600
Auto Anything [Member] | Other [Member]
Business Acquisition [Line Items]
Asset impairment charges	$ 99,600

Goodwill and Intangibles - Sche

Goodwill and Intangibles - Schedule of Changes in Carrying Amount of Goodwill (Detail) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2019	Aug. 25, 2018
Goodwill [Line Items]
Goodwill, Beginning balance	$ 302,645	$ 391,887
Goodwill adjustments	0	(89,242)
Goodwill, Ending balance	302,645	302,645
Auto Parts Locations [Member]
Goodwill [Line Items]
Goodwill, Beginning balance	302,645	326,703
Goodwill adjustments	0	(24,058)
Goodwill, Ending balance	302,645	302,645
Other [Member]
Goodwill [Line Items]
Goodwill, Beginning balance	0	65,184
Goodwill adjustments	0	(65,184)
Goodwill, Ending balance	$ 0	$ 0

Goodwill and Intangibles - Addi

Goodwill and Intangibles - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2019	Aug. 25, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense of intangible assets	$ 4.2	$ 5.1
Accumulated goodwill impairment	$ 107.5	$ 107.5

Goodwill and Intangibles - Sc_2

Goodwill and Intangibles - Schedule of Carrying Amounts of Intangible Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2019	Aug. 25, 2018
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Finite Lived, Gross Carrying Amount	$ 30,246	$ 30,246
Finite Lived, Accumulated Amortization	(24,630)	(20,457)
Finite Lived, Net Carrying Amount	5,616	9,789
Total intangible assets other than goodwill, Net Carrying Amount	$ 5,616	9,789
Minimum [Member]
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Estimated Useful Life	3 years
Maximum [Member]
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Estimated Useful Life	10 years
Technology [Member]
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Finite Lived, Gross Carrying Amount	$ 870	870
Finite Lived, Accumulated Amortization	$ (870)	$ (870)
Technology [Member] | Minimum [Member]
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Estimated Useful Life	3 years	3 years
Technology [Member] | Maximum [Member]
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Estimated Useful Life	5 years	5 years
Customer Relationships [Member]
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Finite Lived, Gross Carrying Amount	$ 29,376	$ 29,376
Finite Lived, Accumulated Amortization	(23,760)	(19,587)
Finite Lived, Net Carrying Amount	$ 5,616	$ 9,789
Customer Relationships [Member] | Minimum [Member]
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Estimated Useful Life	3 years	3 years
Customer Relationships [Member] | Maximum [Member]
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Estimated Useful Life	10 years	10 years

Goodwill and Intangibles - Sc_3

Goodwill and Intangibles - Schedule of Carrying Amounts of Intangible Assets (Parenthetical) (Detail) - Trade Names [Member] - AutoAnything's and Interamerican Motor Corporation [Member] - USD ($) $ in Millions	3 Months Ended
	Feb. 10, 2018	Aug. 25, 2018
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Impairment charge	$ 26.9
Accumulated impairment		$ 31

Goodwill and Intangibles - Sc_4

Goodwill and Intangibles - Schedule of Future Amortization Expense for Finite Lived Intangible Assets (Detail) - USD ($) $ in Thousands	Aug. 31, 2019	Aug. 25, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
2020	$ 4,173
2021	1,443
Thereafter	0
Finite Lived, Net Carrying Amount	$ 5,616	$ 9,789

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2019	Aug. 25, 2018	Aug. 26, 2017
Leases [Abstract]
Rental expense	$ 332,700	$ 315,600	$ 302,900
Deferred rent	159,900	139,600
Capital lease assets	182,000	156,800
Capital lease, accumulated amortization	81,200	79,900
Capital lease obligations	179,900	154,300
Current portion of capital lease obligations	$ 56,246	$ 52,290

Leases - Future Minimum Annual

Leases - Future Minimum Annual Rental Commitments Under Non-Cancelable Operating Leases and Capital Leases (Detail) $ in Thousands	Aug. 31, 2019USD ($)
Leases [Abstract]
2020	$ 315,424
2021	302,056
2022	281,287
2023	252,868
2024	221,213
Thereafter	824,244
Total minimum payments required	2,197,092
2020	56,246
2021	51,679
2022	39,094
2023	28,401
2024	7,300
Thereafter	0
Total minimum payments required	182,720
Less: Interest	(2,815)
Present value of minimum capital lease payments	$ 179,905

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	12 Months Ended
	Aug. 31, 2019USD ($)
Loss Contingencies [Line Items]
Commitment for construction	$ 38
Surety bonds	$ 36.7
The period of time before expiration of standby letters of credit and surety bonds	less than one year
Standby Letters of Credit [Member]
Loss Contingencies [Line Items]
Borrowings, outstanding	$ 101.2

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail) - USD ($) $ in Thousands	Aug. 26, 2018	Aug. 25, 2018
Revenue From Contract With Customer [Line Items]
An increase of retained deficit		$ (6,773)
Accounting Standards Update 2014-09 [Member]
Revenue From Contract With Customer [Line Items]
An increase of retained deficit	$ 6,800

Segment Reporting - Additional

Segment Reporting - Additional Information (Detail)	12 Months Ended
	Aug. 31, 2019ItemLocation
Segment Reporting [Abstract]
Number of reportable segments | Item	1
Number of automotive parts and accessories locations in the United States, Puerto Rico, Mexico, and Brazil | Location	6,411

Segment Reporting - Segment Res

Segment Reporting - Segment Results (Detail) - USD ($) $ in Thousands	3 Months Ended						4 Months Ended		12 Months Ended
	May 04, 2019	Feb. 09, 2019	Nov. 17, 2018	May 05, 2018	Feb. 10, 2018	Nov. 18, 2017	Aug. 31, 2019	Aug. 25, 2018	Aug. 31, 2019	Aug. 25, 2018	Aug. 26, 2017
Segment Reporting Information [Line Items]
Net sales	$ 2,783,006	$ 2,450,568	$ 2,641,733	$ 2,660,152	$ 2,413,026	$ 2,589,131	$ 3,988,435	$ 3,558,769	$ 11,863,743	$ 11,221,077	$ 10,888,676
Gross profit	1,492,020	1,325,107	1,417,474	1,422,974	1,277,046	1,365,848	2,130,400	1,907,879	6,365,001	5,973,746	5,739,620
Operating, selling, general and administrative expenses									(4,148,864)	(4,162,890)	(3,659,551)
Interest expense, net									(184,804)	(174,527)	(154,580)
Income before income taxes	$ 504,284	$ 358,658	$ 448,812	$ 503,807	$ 165,758	$ 429,865	719,578	536,899	2,031,333	1,636,329	1,925,489
Assets							9,895,913	9,346,980	9,895,913	9,346,980	9,259,781
Capital Expenditures									496,050	521,788	553,832
Auto Parts Locations [Member]
Segment Reporting Information [Line Items]
Net sales									11,645,235	10,951,498	10,523,272
Gross profit									6,209,229	5,805,561	5,544,494
Assets							9,781,926	9,231,021	9,781,926	9,231,021	8,964,371
Capital Expenditures									479,120	499,762	533,304
Auto Parts Locations [Member] | Failure [Member]
Segment Reporting Information [Line Items]
Net sales									5,728,294	5,338,890	5,100,702
Auto Parts Locations [Member] | Maintenance Items [Member]
Segment Reporting Information [Line Items]
Net sales									4,140,987	3,914,546	3,774,386
Auto Parts Locations [Member] | Discretionary [Member]
Segment Reporting Information [Line Items]
Net sales									1,775,954	1,698,062	1,648,184
Other [Member]
Segment Reporting Information [Line Items]
Net sales									218,508	269,579	365,404
Gross profit									155,772	168,185	195,126
Assets							$ 113,987	$ 115,959	113,987	115,959	295,410
Capital Expenditures									$ 16,930	$ 22,026	$ 20,528

Segment Reporting - Segment R_2

Segment Reporting - Segment Results (Parenthetical) (Detail) - USD ($) $ in Thousands	4 Months Ended	12 Months Ended
	Aug. 25, 2018	Aug. 31, 2019	Aug. 25, 2018
Segment Reporting Information [Line Items]
Termination settlement costs	$ 130,300	$ (6,796)	$ 130,263
Asset impairment charges			$ 193,162

Quarterly Summary - Quarterly S

Quarterly Summary - Quarterly Summary (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						4 Months Ended		12 Months Ended
	May 04, 2019	Feb. 09, 2019	Nov. 17, 2018	May 05, 2018	Feb. 10, 2018	Nov. 18, 2017	Aug. 31, 2019	Aug. 25, 2018	Aug. 31, 2019	Aug. 25, 2018	Aug. 26, 2017
Quarterly Financial Information Disclosure [Abstract]
Net sales	$ 2,783,006	$ 2,450,568	$ 2,641,733	$ 2,660,152	$ 2,413,026	$ 2,589,131	$ 3,988,435	$ 3,558,769	$ 11,863,743	$ 11,221,077	$ 10,888,676
Gross profit	1,492,020	1,325,107	1,417,474	1,422,974	1,277,046	1,365,848	2,130,400	1,907,879	6,365,001	5,973,746	5,739,620
Operating profit	547,523	400,020	487,818	545,765	205,098	468,754	780,775	591,239	2,216,137	1,810,856	2,080,069
Income before income taxes	504,284	358,658	448,812	503,807	165,758	429,865	719,578	536,899	2,031,333	1,636,329	1,925,489
Net income	$ 405,949	$ 294,638	$ 351,406	$ 366,721	$ 289,530	$ 281,003	$ 565,228	$ 400,282	$ 1,617,221	$ 1,337,536	$ 1,280,869
Basic earnings per share	$ 16.35	$ 11.71	$ 13.71	$ 13.62	$ 10.58	$ 10.17	$ 23.15	$ 15.27	$ 64.78	$ 49.59	$ 45.05
Diluted earnings per share	$ 15.99	$ 11.49	$ 13.47	$ 13.42	$ 10.38	$ 10	$ 22.59	$ 15.02	$ 63.43	$ 48.77	$ 44.07

Quarterly Summary - Quarterly_2

Quarterly Summary - Quarterly Summary (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended	4 Months Ended	12 Months Ended
	Feb. 10, 2018	Aug. 25, 2018	Aug. 31, 2019	Aug. 25, 2018
Selected Quarterly Financial Information [Line Items]
Asset impairment				$ 193,162
Pension termination charges (refund)		$ 130,300	$ (6,796)	$ 130,263
Auto Anything and IMC Businesses [Member]
Selected Quarterly Financial Information [Line Items]
Asset impairment	$ 193,200