0000950170-23-055282 | 10-K | XBRL Viewer

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Commitments and Contingencies - Anticipated Payments and Insurance Proceeds of Identified Environmental Remediation Liabilities (Details) - USD ($) $ in Thousands	Aug. 26, 2023	Aug. 27, 2022	Aug. 28, 2021
Estimated costs—current dollars
2024	$ 14,049
2025	2,651
2026	1,442
2027	1,270
2028	972
Thereafter	14,617
Total	35,001
Estimated insurance proceeds
2024	(180)
2025	(195)
2026	(159)
2027	(173)
2028	(9)
Thereafter	(230)
Total	(946)
Net anticipated costs
2024	13,869
2025	2,456
2026	1,283
2027	1,097
2028	963
Thereafter	14,387
Total	34,055
Effect of inflation	9,227
Effect of discounting	(13,253)
Balance at end of period	$ 30,029	$ 32,191	$ 32,859

Summary of Significant Accounting Policies - Schedule of Components of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Aug. 26, 2023	Aug. 27, 2022
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 1,752,112	$ 1,593,499
Less: accumulated depreciation	995,572	928,380
Total property, plant and equipment	756,540	665,119
Land, Buildings and Leasehold Equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	744,085	663,089
Machinery and Equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	676,490	622,168
Motor Vehicles
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 331,537	$ 308,242

Acquisitions - Schedule of Preliminary Purchase Price Allocation (Details) - Clean Holdco, Inc. $ in Thousands	Aug. 26, 2023 USD ($)
Business Acquisition [Line Items]
Receivables	$ 8,301
Inventories	632
Rental merchandise in service	8,535
Prepaid expenses and other current assets	762
Property, plant and equipment	31,497
Operating lease right-of-use assets, net	3,517
Goodwill and intangible assets	257,833
Accounts payable	(2,011)
Accrued liabilities	(5,767)
Operating lease liabilities, current	(1,510)
Operating lease liabilities, noncurrent	(2,657)
Total purchase price	$ 299,132

Derivative Instruments and Hedging Activities - Narrative (Details) $ in Thousands, $ in Millions	12 Months Ended
	Aug. 26, 2023 USD ($)	Aug. 26, 2023 CAD ($)	Aug. 26, 2023 USD ($)	Aug. 27, 2022 USD ($)	Aug. 31, 2021 CAD ($) Contract
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount reclassified from accumulated other comprehensive loss			$ (23,761)	$ (24,290)
Canadian Dollars
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Average exchange rate					0.7861
Forward Contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional value (CAD)		$ 5.4			$ 14.1
Fair value of the contracts			200
Amount reclassified from accumulated other comprehensive loss			$ 200
Reclassification from accumulated other comprehensive loss to revenue	$ 100
Forward Contracts \| Canadian Dollars
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of derivatives entered into to exchange Canadian dollars for U.S. dollars \| Contract					20

- Definition

Amount, after tax, of accumulated increase (decrease) in equity from transaction and other event and circumstance from nonowner source.

+ References + Details

Accumulated Other Comprehensive Loss

12 Months Ended

Aug. 26, 2023

Stockholders' Equity Note [Abstract]

Accumulated Other Comprehensive Loss

14. Accumulated Other Comprehensive Loss

The changes in each component of accumulated other comprehensive loss for fiscal 2023 and 2022 are as follows (in thousands):


	Foreign Currency Translation			Pension- related (1)			Derivative Financial Instruments (1)		Total Accumulated Other Comprehensive Loss
Balance as of August 28, 2021	$	(17,801	)	$	(7,066	)	$	31	$	(24,836	)
Change during the year		(7,002	)		7,518			30		546
Balance as of August 27, 2022		(24,803	)		452			61		(24,290	)
Change during the year		(1,701	)		2,130			100		529
Balance as of August 26, 2023	$	(26,504	)	$	2,582		$	161	$	(23,761	)

(1)

Amounts are shown net of tax.

Amounts reclassified from accumulated other comprehensive loss, net of tax, for fiscal 2023 and 2022 were as follows (in thousands):


Year ended	August 26, 2023			August 27, 2022
Pension benefit liabilities, net:
Actuarial loss (gain) (a)	$	(16	)	$	(414	)
Total, net of tax		(16	)		(414	)
Derivative financial instruments, net:
Forward contracts loss (gain) (b)		93			68
Total, net of tax		93			68
Total amounts reclassified, net of tax	$	77		$	(346	)

(a)

Amounts included in selling and administrative expenses in the accompanying Consolidated Statements of Income.

(b)

Amounts included in revenues in the accompanying Consolidated Statements of Income.

Goodwill and Other Intangible Assets - Schedule of Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 26, 2023	Aug. 27, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Beginning balance	$ 457,259	$ 429,538
Goodwill recorded during the period	190,777	27,964
Other	(136)	(243)
Ending balance	$ 647,900	$ 457,259

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Aug. 26, 2023	Aug. 27, 2022	Aug. 28, 2021
Income Tax Disclosure [Abstract]
Unrecognized tax benefits	$ 7,751	$ 6,417	$ 9,321
Total unrecognized tax benefits	$ 7,100	$ 5,700

Consolidated Balance Sheets - Parenthetical - USD ($) $ in Thousands	Aug. 26, 2023	Aug. 27, 2022
Receivables, reserves	$ 17,185	$ 15,605
Preferred stock, par value (in dollars per share)	$ 1.00	$ 1.00
Preferred stock, shares authorized (in shares)	2,000,000	2,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common Stock
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	30,000,000	30,000,000
Common stock, shares issued (in shares)	15,104,317	15,075,425
Common stock, shares outstanding (in shares)	15,104,317	15,075,425
Class B Common Stock
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, shares issued (in shares)	3,590,295	3,590,295
Common stock, shares outstanding (in shares)	3,590,295	3,590,295

Summary of Significant Accounting Policies - Schedule of Computation of Diluted Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Aug. 26, 2023	Aug. 27, 2022	Aug. 28, 2021
Earnings Per Share Diluted [Line Items]
As reported—Basic	$ 103,674	$ 103,404	$ 151,111
As reported - Basic (in shares)	18,688	18,824	18,880
Common Stock	$ 103,674	$ 103,404	$ 151,111
Common stock (in shares)	18,762	18,933	19,038
Diluted Income Per Share - Common Stock (in dollars per share)	$ 5.53	$ 5.46	$ 7.94
Common Stock
Earnings Per Share Diluted [Line Items]
As reported—Basic	$ 87,104	$ 86,844	$ 126,848
As reported - Basic (in shares)	15,098	15,203	15,237
As reported - Basic (in dollars per share)	$ 5.77	$ 5.71	$ 8.32
Add: effect of dilutive potential common shares	$ 0	$ 0	$ 0
Add: effect of dilutive potential common shares (in shares)	74	109	158
Class B Common Stock
Earnings Per Share Diluted [Line Items]
As reported—Basic	$ 16,570	$ 16,560	$ 24,263
As reported - Basic (in shares)	3,590	3,621	3,643
As reported - Basic (in dollars per share)	$ 4.62	$ 4.57	$ 6.66

Asset Retirement Obligations (Tables)

12 Months Ended

Aug. 26, 2023

Asset Retirement Obligation Disclosure [Abstract]

Rollforward of Asset Retirement Liability

A reconciliation of the Company’s asset retirement is as follows for fiscal 2023 and 2022:


(In thousands)	August 26, 2023		August 27, 2022
Beginning balance	$	15,274	$	14,887
Accretion expense		923		970
Effect of exchange rate changes		274		(583	)
Ending balance	$	16,471	$	15,274

Consolidated Statements of Shareholders' Equity - USD ($)
shares in Thousands, $ in Thousands

Total

Common Stock

Common Shares

Common Stock

Class B Common Stock

Capital Surplus

Retained Earnings

Accumulated Other Comprehensive Loss

Balance at beginning of period at Aug. 29, 2020

$ 1,741,129

$ 1,525

$ 364

$ 86,645

$ 1,684,565

$ (31,970)

Balance at beginning of period (in shares) at Aug. 29, 2020

15,251

3,643

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income

151,111

Pension benefit liabilities, net

^[1]

2,960

Change in fair value of derivatives

^[1]

(34)

Foreign currency translation

4,208

Dividends declared

(18,147)

Share-based compensation, net

^[2]

2,943

Share-based awards exercised, net

^[1]

$ 4

Share-based awards exercised, net (in shares)

^[1]

Repurchase of Common Stock

(11,222)

$ (5)

(331)

(10,886)

Repurchase of common stock (in shares)

(61)

Balance at end of period at Aug. 28, 2021

1,872,952

$ 1,524

$ 364

89,257

1,806,643

(24,836)

Balance at end of period (in shares) at Aug. 28, 2021

15,236

3,643

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income

103,404

Pension benefit liabilities, net

^[1]

7,518

Change in fair value of derivatives

^[1]

Foreign currency translation

(7,002)

Dividends declared

(21,658)

Shares converted

$ 1

$ (1)

Shares converted (in shares)

(17)

Share-based compensation, net

^[2]

5,035

Share-based awards exercised, net

^[1]

$ 4

Share-based awards exercised, net (in shares)

^[1]

Repurchase of Common Stock

(44,412)

$ (21)

$ (4)

(1,161)

(43,226)

Repurchase of common stock (in shares)

(214)

(36)

Balance at end of period at Aug. 27, 2022

1,915,871

$ 1,508

$ 359

93,131

1,845,163

(24,290)

Balance at end of period (in shares) at Aug. 27, 2022

15,075

3,590

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income

103,674

Pension benefit liabilities, net

^[1]

2,130

Change in fair value of derivatives

^[1]

100

Foreign currency translation

(1,701)

Dividends declared

(22,288)

Share-based compensation, net

^[2]

6,172

Share-based awards exercised, net

^[1]

$ 2

Share-based awards exercised, net (in shares)

^[1]

Balance at end of period at Aug. 26, 2023

$ 2,003,960

$ 1,510

$ 359

$ 99,303

$ 1,926,549

$ (23,761)

Balance at end of period (in shares) at Aug. 26, 2023

15,104

3,590

[1]	These amounts are shown net of the effect of income taxes.
[2]	These amounts are shown net of any shares withheld by the Company to satisfy certain tax withholding obligations in connection with the vesting of certain restricted stock units.

Consolidated Balance Sheets - USD ($) $ in Thousands	Aug. 26, 2023	Aug. 27, 2022
Current assets:
Cash and cash equivalents	$ 79,443	$ 376,399
Short-term investments	10,157	0
Receivables, less reserves of $11,122 and $12,125, respectively	279,078	249,198
Inventories	148,334	151,459
Rental merchandise in service	248,323	219,392
Prepaid taxes	20,907	25,523
Prepaid expenses and other current assets	53,876	41,921
Total current assets	840,118	1,063,892
Property, plant and equipment, net	756,540	665,119
Goodwill	647,900	457,259
Customer contracts, net	103,452	49,053
Other intangible assets, net	42,166	35,920
Deferred income taxes	567	498
Operating lease right-of-use assets, net	62,565	50,050
Other assets	116,667	106,181
Total assets	2,569,975	2,427,972
Current liabilities:
Accounts payable	92,730	82,131
Accrued liabilities	156,408	146,808
Accrued taxes	352	1,204
Operating lease liabilities, current	17,739	13,602
Total current liabilities	267,229	243,745
Accrued liabilities	121,682	123,979
Accrued and deferred income taxes	130,084	106,307
Operating lease liabilities	47,020	38,070
Total liabilities	566,015	512,101
Commitments and contingencies (Note 11)
Shareholders’ equity:
Preferred Stock, $1.00 par value; 2,000,000 shares authorized; no shares issued and outstanding	0	0
Capital surplus	99,303	93,131
Retained earnings	1,926,549	1,845,163
Accumulated other comprehensive loss	(23,761)	(24,290)
Total shareholders’ equity	2,003,960	1,915,871
Total liabilities and shareholders’ equity	2,569,975	2,427,972
Common Stock
Shareholders’ equity:
Common Stock	1,510	1,508
Class B Common Stock
Shareholders’ equity:
Common Stock	$ 359	$ 359

Consolidated Statements of Cash Flows - USD ($)
$ in Thousands

12 Months Ended

Aug. 26, 2023

Aug. 27, 2022

Aug. 28, 2021

Cash flows from operating activities:

Net income

$ 103,674

$ 103,404

$ 151,111

Adjustments to reconcile net income to cash provided by operating activities:

Depreciation and amortization

^[1]

121,233

108,777

105,955

Share-based compensation

9,063

9,103

7,011

Accretion on environmental contingencies

1,036

596

448

Accretion on asset retirement obligations

923

970

985

Other

1,020

(993)

538

Deferred income taxes

22,143

20,008

300

Changes in assets and liabilities, net of acquisitions:

Receivables, less reserves

(21,714)

(40,626)

(16,685)

Inventories

4,001

(8,148)

(37,213)

Rental merchandise in service

(20,847)

(36,597)

(26,323)

Prepaid expenses and other current assets and Other assets

(7,057)

9,250

5,015

Accounts payable

10,111

(927)

15,136

Accrued liabilities

(12,762)

(31,517)

16,446

Prepaid and accrued income taxes

4,938

(10,651)

(10,422)

Net cash provided by operating activities

215,762

122,649

212,302

Cash flows from investing activities:

Acquisition of businesses, net of cash acquired

(306,193)

(44,203)

(8,443)

Capital expenditures, including capitalization of software costs

(171,991)

(144,319)

(133,639)

Purchases of investments

(117,012)

Maturities of investments

107,000

Proceeds from sale of assets

549

2,015

617

Net cash used in investing activities

(487,647)

(186,507)

(141,465)

Cash flows from financing activities:

Payment of deferred financing costs

(851)

(822)

Borrowings under line of credit

80,000

Repayments under line of credit

(80,000)

Proceeds from exercise of share-based awards

(167)

Taxes withheld and paid related to net share settlement of equity awards

(2,891)

(4,068)

Repurchase of Common Stock

(44,412)

(11,222)

Payment of cash dividends

(22,100)

(20,791)

(18,147)

Net cash used in financing activities

(25,839)

(69,438)

(34,255)

Effect of exchange rate changes

768

(3,173)

1,448

Net (decrease) increase in cash and cash equivalents

(296,956)

(136,469)

38,030

Cash and cash equivalents at beginning of period

376,399

512,868

474,838

Cash and cash equivalents at end of period

79,443

376,399

512,868

Supplemental disclosure of cash flow information:

Capital expenditures in accounts payable

7,351

8,737

6,705

Interest paid

1,344

838

685

Income taxes paid, net of refunds received

$ 8,491

$ 24,559

$ 56,393

[1]	Depreciation and amortization for the full year of fiscal 2023 and 2022 included approximately $14.7 million and $10.9 million, respectively, of non-cash amortization expense recognized on acquisition-related intangible assets.

Employee Benefit Plans - Weighted Average Assumptions Used in Calculating Projected Benefit Obligation (Details)	Aug. 26, 2023	Aug. 27, 2022
Pension Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Discount rate	5.10%	4.30%
SERP
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Discount rate	5.20%	4.40%
Rate of compensation increase	5.00%	5.00%

Commitments and Contingencies - Schedule of Operating Lease Cost and Information Related to Operating Lease Right-of-use Assets, Net and Operating Lease Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 26, 2023	Aug. 27, 2022	Aug. 28, 2021
Lease cost
Operating lease costs including short-term lease expense and variable lease costs, which were immaterial in the period	$ 22,303	$ 20,284	$ 19,329
Operating cash flow impacts
Cash paid for amounts included in the measurement of operating lease liabilities	16,710	15,123	13,629
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities	23,076	$ 21,391	$ 13,592
Operating lease right-of-use assets acquired in business combination	$ 4,167
Weighted-average remaining lease term - operating leases	4 years 5 months 23 days	4 years 7 months 28 days	4 years 1 month 2 days
Weighted-average discount rate - operating leases	3.55%	2.24%	2.28%

Employee Benefit Plans - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Aug. 26, 2023	Aug. 27, 2022	Aug. 28, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Contributions charged to expense under the plan	$ 18.7	$ 18.2	$ 19.9
SERP
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Amounts charged to expense related to the plan	1.7	1.5	2.9
Accumulated benefit obligations	22.5	24.6
UniFirst Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Amounts charged to expense related to the plan	0.1	0.1	$ 0.2
Accumulated benefit obligations	3.5	3.8
Nonqualified Deferred Compensation Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Amounts charged to expense related to the plan	0.3	0.3
NQDC Plan assets	$ 2.0	$ 1.3

Derivative Instruments and Hedging Activities

12 Months Ended

Aug. 26, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities

6. Derivative Instruments and Hedging Activities

The Company uses derivative financial instruments to mitigate its exposure to fluctuations in foreign currencies on certain forecasted transactions denominated in foreign currencies. U.S. GAAP requires that all of the Company’s derivative instruments be recorded on the balance sheet at fair value. All subsequent changes in a derivative’s fair value are recognized in income, unless specific hedge accounting criteria are met.

Derivative instruments that qualify for hedge accounting are classified as a hedge of the variability of cash flows to be received or paid related to a recognized asset, liability or forecasted transaction. Changes in the fair value of a derivative that is highly effective and designated as a cash flow hedge are recognized in accumulated other comprehensive (loss) income until the hedged item or forecasted transaction is recognized in earnings. The Company performs an assessment at the inception of the hedge and on a quarterly basis thereafter, to determine whether its derivatives are highly effective in offsetting changes in the value of the hedged items. Any changes in the fair value resulting from hedge ineffectiveness are immediately recognized as income or expense.

In August 2021, the Company entered into twenty forward contracts to exchange CAD for U.S. dollars at fixed exchange rates in order to manage its exposure related to certain forecasted CAD denominated sales of one of its subsidiaries. The hedged transactions are specified as the first amount of CAD denominated revenues invoiced by one of the Company’s domestic subsidiaries each fiscal quarter, beginning in the first fiscal quarter of 2022 and continuing through the fourth fiscal quarter of 2026. In total, the Company will sell approximately 14.1 million CAD at an average Canadian-dollar exchange rate of 0.7861 over these quarterly periods. The Company concluded that the forward contracts met the criteria to qualify as a cash flow hedge under U.S. GAAP.

As of August 26, 2023, the Company had forward contracts with a notional value of approximately 5.4 million CAD outstanding and recorded the fair value of the contracts of $0.2 million in prepaid expenses and other current assets with a corresponding gain of $0.2 million in accumulated other comprehensive loss, which was recorded net of tax. For the fiscal 2023, the Company reclassified $0.1 million from accumulated other comprehensive loss to revenue, related to the derivative financial instruments. The gain on these forward contracts that results in a decrease to accumulated other comprehensive loss as of August 26, 2023 is expected to be reclassified to revenues prior to their maturity on August 29, 2026.

Related Party - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 26, 2023	Aug. 27, 2022	Aug. 28, 2021
Related Party Transaction [Line Items]
Revenues	$ 2,233,047	$ 2,000,822	$ 1,826,216
Executive Officer
Related Party Transaction [Line Items]
Revenues	200
Related party expense	$ 3,200

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Summary of Significant Accounting Policies - Schedule of Computation of Basic Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Aug. 26, 2023	Aug. 27, 2022	Aug. 28, 2021
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income	$ 103,674	$ 103,404	$ 151,111
Allocation of net income for Basic:
Common stock	$ 103,674	$ 103,404	$ 151,111
Weighted average number of shares for Basic:
Common stock (in shares)	18,688	18,824	18,880
Common Stock
Allocation of net income for Basic:
Common stock	$ 87,104	$ 86,844	$ 126,848
Weighted average number of shares for Basic:
Common stock (in shares)	15,098	15,203	15,237
Income per share for Basic:
Common stock (in dollars per share)	$ 5.77	$ 5.71	$ 8.32
Class B Common Stock
Allocation of net income for Basic:
Common stock	$ 16,570	$ 16,560	$ 24,263
Weighted average number of shares for Basic:
Common stock (in shares)	3,590	3,621	3,643
Income per share for Basic:
Common stock (in dollars per share)	$ 4.62	$ 4.57	$ 6.66

Acquisitions

12 Months Ended

Aug. 26, 2023

Business Combinations [Abstract]

Acquisitions

2. Acquisitions

Clean Uniform

On March 13, 2023, the Company completed the acquisition of the business and certain real estate assets of Clean Uniform (“Clean”) from Clean Holdco, Inc. and certain of its affiliates for an aggregate purchase price of $299.1 million, net of cash acquired. The difference between the cash paid and the total purchase price of $302.4 million represents amounts owed from the seller as a result of final closing adjustments. The acquisition was structured primarily as a stock purchase but will be treated as an asset purchase from a tax perspective, which will allow for a step-up in the tax basis of the assets and provide incremental tax benefits expected to be realized over time with an estimated value of approximately $40 million. Clean is a uniform, workwear and facility service program provider with 11 locations covering Missouri, Illinois, Arkansas, Kansas and Oklahoma. Prior to the closing of the acquisition, neither the Company nor any of its affiliates, or any director or officer of the Company or any of its affiliates, or any associate of any such director or officer, had any material relationship with any of the sellers. The results of operations from Clean are included in the Company's results under the Core Laundry Operations segment subsequent to the acquisition date of March 13, 2023. The Company paid for the acquisition of Clean with cash on hand and borrowings under the Credit Agreement (defined below).

The Clean acquisition was accounted for using the purchase method of accounting. The Company has prepared purchase price allocations for the business combination with Clean on a preliminary basis. Changes to those allocations may occur as additional information becomes available during the respective measurement period (up to one year from the acquisition date). The Company is in the process of measuring the fair value of its tangible and intangible assets acquired and liabilities assumed. The Company has engaged specialists to assist in the valuation of intangible assets for which certain assumptions have not yet been finalized. The amounts assigned to intangible assets acquired were based on their respective fair values determined as of the acquisition date. The table below summarizes the preliminary purchase price allocation to the estimated fair value of assets acquired and liabilities assumed at the acquisition date. Goodwill is calculated as the excess of the purchase price over the net assets recognized and represents the estimated future economic benefits arising from expected synergies and growth opportunities for the Company. All of the goodwill and intangible assets were allocated to the Core Laundry Operations segment and are deductible for tax purposes.

Transaction and related costs, consisting primarily of professional fees, directly related to the acquisition, totaled approximately $3.0 million during fiscal 2023. All transaction and related costs were expensed as incurred and are included in selling and administrative expenses.

The amount of revenue of Clean included in the consolidated statements of income from the acquisition date of March 13, 2023 to August 26, 2023 was $43.0 million.

The preliminary purchase price allocation is as follows (in thousands):


Receivables	$	8,301
Inventories		632
Rental merchandise in service		8,535
Prepaid expenses and other current assets		762
Property, plant and equipment		31,497
Operating lease right-of-use assets, net		3,517
Goodwill and intangible assets		257,833
Accounts payable		(2,011	)
Accrued liabilities		(5,767	)
Operating lease liabilities, current		(1,510	)
Operating lease liabilities, noncurrent		(2,657	)
Total purchase price	$	299,132

The following table identifies the Company’s allocation of purchase price to the intangible assets and goodwill acquired by category:


Year ended	Estimated Fair Value (in thousands)		Weighted-Average Life (in years)
Goodwill	$	186,833	N/A
Customer contracts		65,700		15.0
Trade name		5,300		3.0
Total intangible assets and goodwill acquired	$	257,833

The amount of amortization expense recognized of Clean customer contracts and trade name included in the consolidated statements of income from the acquisition date of March 13, 2023 to August 26, 2023 was $3.8 million and $0.9 million, respectively.

Unaudited pro forma information presents the combined financial results for the Company and Clean as if the acquisition of Clean had occurred on August 28, 2021. The unaudited pro forma revenue of the combined entity for fiscal 2023 and 2022 were $2.3 billion and $2.1 billion, respectively, reflecting the effects of the Clean acquisition. The effects of the Clean acquisition on unaudited pro forma net income of the combined entity were not material for fiscal 2023 and 2022.

Other Acquisitions

During fiscal 2023, the Company completed four other business acquisitions with an aggregate purchase price of approximately $7.1 million. Tangible assets acquired primarily relate to accounts receivable, inventory and property, plant and equipment. The results of operations of all acquisitions completed during fiscal 2023 have been included in the Company’s consolidated financial results since their respective acquisition dates. These acquisitions were not significant in relation to the Company’s consolidated financial results and, therefore, pro-forma financial information has not been presented.

The following table identifies the Company’s allocation of purchase price to the intangible assets and goodwill acquired by category:


Year ended	Estimated Fair Value (in thousands)		Weighted-Average Life (in years)
Goodwill	$	3,944	N/A
Customer contracts		2,271		14.0
Other intangible assets		25		5.0
Total intangible assets and goodwill acquired	$	6,240

Acquisitions (Tables)

12 Months Ended

Aug. 26, 2023

Clean Holdco, Inc.

Business Acquisition [Line Items]

Schedule of Preliminary Purchase Price Allocation

The preliminary purchase price allocation is as follows (in thousands):


Receivables	$	8,301
Inventories		632
Rental merchandise in service		8,535
Prepaid expenses and other current assets		762
Property, plant and equipment		31,497
Operating lease right-of-use assets, net		3,517
Goodwill and intangible assets		257,833
Accounts payable		(2,011	)
Accrued liabilities		(5,767	)
Operating lease liabilities, current		(1,510	)
Operating lease liabilities, noncurrent		(2,657	)
Total purchase price	$	299,132

Summary of Allocation of Purchase Price to Intangible Assets and Goodwill

The following table identifies the Company’s allocation of purchase price to the intangible assets and goodwill acquired by category:


Year ended	Estimated Fair Value (in thousands)		Weighted-Average Life (in years)
Goodwill	$	186,833	N/A
Customer contracts		65,700		15.0
Trade name		5,300		3.0
Total intangible assets and goodwill acquired	$	257,833

Other Acquisitions

Business Acquisition [Line Items]

Summary of Allocation of Purchase Price to Intangible Assets and Goodwill

The following table identifies the Company’s allocation of purchase price to the intangible assets and goodwill acquired by category:


Year ended	Estimated Fair Value (in thousands)		Weighted-Average Life (in years)
Goodwill	$	3,944	N/A
Customer contracts		2,271		14.0
Other intangible assets		25		5.0
Total intangible assets and goodwill acquired	$	6,240

Asset Retirement Obligations - Narrative (Details)	12 Months Ended
Asset Retirement Obligations - Narrative (Details)	Aug. 26, 2023
Asset Retirement Obligations [Line Items]
Estimated impact of inflation per year	3.00%
Credit adjusted risk free rates, minimum	7.00%
Credit adjusted risk free rates, maximum	7.50%
Minimum
Asset Retirement Obligations [Line Items]
Remaining lives	1 year
Maximum
Asset Retirement Obligations [Line Items]
Remaining lives	21 years

Segment Reporting - Schedule of Segment Reporting Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 26, 2023	Aug. 27, 2022	Aug. 28, 2021
Segment Reporting Information [Line Items]
Revenues	$ 2,233,047	$ 2,000,822	$ 1,826,216
Income (loss) from operations	133,603	134,351	195,825
Interest (income) expense, net	(6,738)	(2,851)	(2,568)
Income before income taxes	138,837	134,325	196,871
Depreciation and amortization	121,233	108,777	105,955
Capital expenditures	171,991	144,319	133,639
Total assets	2,569,975	2,427,972	2,381,065
US and Canadian Rental and Cleaning \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	1,907,765	1,733,088	1,580,850
Income (loss) from operations	293,171	289,018	290,774
Interest (income) expense, net	(3,105)	(2,998)	(2,760)
Income before income taxes	296,214	291,960	293,357
Depreciation and amortization	86,887	75,876	73,611
Capital expenditures	159,058	135,725	129,327
Total assets	2,347,895	2,206,608	2,179,243
MFG \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	297,752	281,112	264,021
Income (loss) from operations	88,292	64,884	73,579
Income before income taxes	87,935	64,553	73,260
Depreciation and amortization	2,135	2,251	2,530
Capital expenditures	78	255	456
Total assets	34,655	35,748	37,605
MFG \| Net Interco MFG Elim
Segment Reporting Information [Line Items]
Revenues	(297,752)	(281,112)	(264,021)
Income (loss) from operations	(16,717)	236	(283)
Income before income taxes	(16,717)	236	(283)
Corporate \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	53,424	37,414	34,710
Income (loss) from operations	(266,080)	(243,428)	(192,353)
Interest (income) expense, net	(3,633)	147	(192)
Income before income taxes	(264,459)	(244,800)	(194,970)
Depreciation and amortization	25,255	24,075	23,190
Subtotal Core Laundry Operations
Segment Reporting Information [Line Items]
Revenues	1,961,189	1,770,502	1,615,560
Income (loss) from operations	98,666	110,710	171,717
Interest (income) expense, net	(6,738)	(2,851)	2,568
Income before income taxes	102,973	111,949	171,364
Depreciation and amortization	114,277	102,202	99,331
Capital expenditures	159,136	135,980	129,783
Total assets	2,382,550	2,242,356	2,216,848
Specialty Garments
Segment Reporting Information [Line Items]
Revenues	177,034	152,885	145,454
Specialty Garments \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	177,034	152,885	145,454
Income (loss) from operations	37,488	23,658	24,801
Income before income taxes	38,420	22,396	26,198
Depreciation and amortization	4,020	4,097	4,510
Capital expenditures	8,818	7,122	3,407
Total assets	127,057	135,406	119,305
First Aid
Segment Reporting Information [Line Items]
Revenues	94,824	77,435	65,202
First Aid \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	94,824	77,435	65,202
Income (loss) from operations	(2,551)	(17)	(693)
Income before income taxes	(2,556)	(20)	(691)
Depreciation and amortization	2,936	2,478	2,114
Capital expenditures	4,037	1,217	449
Total assets	$ 60,368	$ 50,210	$ 44,912

Goodwill and Other Intangible Assets - Schedule of Intangible Assets, Net (Details) - USD ($) $ in Thousands	Aug. 26, 2023	Aug. 27, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 439,584	$ 360,769
Accumulated Amortization	293,966	275,796
Net Carrying Amount	145,618	84,973
Customer Contracts
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	315,448	247,721
Accumulated Amortization	211,996	198,668
Net Carrying Amount	103,452	49,053
Software
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	80,538	75,528
Accumulated Amortization	45,117	41,637
Net Carrying Amount	35,421	33,891
Other Intangible Assets
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	43,598	37,520
Accumulated Amortization	36,853	35,491
Net Carrying Amount	$ 6,745	$ 2,029

Summary of Significant Accounting Policies - Schedule of Components of Inventory (Details) - USD ($) $ in Thousands	Aug. 26, 2023	Aug. 27, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 25,147	$ 25,932
Work in process	4,444	2,876
Finished goods	118,743	122,651
Total inventory	$ 148,334	$ 151,459

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Aug. 26, 2023	Oct. 20, 2023	Feb. 24, 2023
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Aug. 26, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Registrant Name	UNIFIRST CORPORATION
Entity Central Index Key	0000717954
Current Fiscal Year End Date	--08-26
Entity Filer Category	Large Accelerated Filer
Title of 12(b) Security	Common Stock, $0.10 par value per share
Trading Symbol	UNF
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	Yes
Entity Interactive Data Current	Yes
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity File Number	001-08504
Entity Tax Identification Number	04-2103460
Entity Address, Address Line One	68 Jonspin Road
Entity Address, City or Town	Wilmington
Entity Address, State or Province	MA
Entity Incorporation, State or Country Code	MA
Entity Address, Postal Zip Code	01887
City Area Code	(978)
Local Phone Number	658-8888
ICFR Auditor Attestation Flag	true
Document Annual Report	true
Document Transition Report	false
Entity Public Float			$ 2,900,323,933
Documents Incorporated by Reference	Documents Incorporated By Reference The Registrant intends to file a Definitive Proxy Statement pursuant to Regulation 14A promulgated under the Securities Exchange Act of 1934, as amended, for its 2024 Annual Meeting of Shareholders within 120 days of the end of the fiscal year ended August 26, 2023. Portions of such Proxy Statement are incorporated by reference in Part III of this Annual Report on Form 10-K.
Auditor Name	Ernst & Young LLP
Auditor Location	Boston, Massachusetts
Auditor Firm ID	42
Document Financial Statement Error Correction [Flag]	false
Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		15,104,582
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		3,590,295

Employee Benefit Plans - Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost (Details)	12 Months Ended
	Aug. 26, 2023	Aug. 27, 2022	Aug. 28, 2021
Pension Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Discount rate	4.30%	2.30%	2.00%
Expected return on plan assets	3.50%	3.50%	3.50%
SERP
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Discount rate	4.40%	2.60%	2.50%
Rate of compensation increase	5.00%	5.00%	5.00%

Accrued Liabilities - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Aug. 26, 2023	Aug. 27, 2022
Current liabilities:
Payroll and benefit related	$ 41,015	$ 48,415
Bonuses	19,893	15,476
Insurance related	34,343	32,410
Environmental related	13,835	12,254
Other	47,322	38,253
Total current liabilities	156,408	146,808
Long-term liabilities:
Benefit related	24,174	26,779
Environmental related	16,194	19,937
Asset retirement obligations	16,471	15,274
Insurance related	64,843	61,989
Total long-term liabilities	121,682	123,979
Total accrued liabilities	$ 278,090	$ 270,787

Acquisitions - Summary of Allocation of Purchase Price to Intangible Assets and Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 26, 2023	Aug. 27, 2022	Aug. 28, 2021
Esimated Fair Value
Goodwill	$ 647,900	$ 457,259	$ 429,538
Clean Holdco, Inc.
Esimated Fair Value
Goodwill	186,833
Customer contracts	65,700
Total intangible assets and goodwill acquired	$ 257,833
Clean Holdco, Inc. \| Customer Contracts
Esimated Fair Value
Weighted average life	15 years
Clean Holdco, Inc. \| Trade Name
Esimated Fair Value
Other intangible assets	$ 5,300
Weighted average life	3 years
Aggregate Information Relating to Acquisition of Businesses
Esimated Fair Value
Goodwill	$ 3,944
Customer contracts	2,271
Other intangible assets	25
Total intangible assets and goodwill acquired	$ 6,240
Aggregate Information Relating to Acquisition of Businesses \| Customer Contracts
Esimated Fair Value
Weighted average life	14 years
Aggregate Information Relating to Acquisition of Businesses \| Other Intangible Assets
Esimated Fair Value
Weighted average life	5 years

Acquisitions - Narrative (Details) $ in Thousands		5 Months Ended	12 Months Ended
Acquisitions - Narrative (Details) $ in Thousands	Mar. 13, 2023 USD ($)	Aug. 26, 2023 USD ($)	Aug. 26, 2023 USD ($) Business	Aug. 27, 2022 USD ($)	Aug. 28, 2021 USD ($)
Business Acquisition [Line Items]
Revenues			$ 2,233,047	$ 2,000,822	$ 1,826,216
Intangible assets, amortization expense recognized in earnings			$ 14,700	10,900
Aggregate Information Relating to Acquisition of Businesses
Business Acquisition [Line Items]
Number of business acquired \| Business			4
Business acquisitions, aggregate purchase price			$ 7,100
Clean Holdco, Inc.
Business Acquisition [Line Items]
Acquisition date			Mar. 13, 2023
Business acquisitions, aggregate purchase price	$ 299,100
Business combination, Difference of cash paid and total purchase price amount	302,400
Business combination estimated value of incremental tax benefits	$ 40,000
Business acquisition, transaction and related costs			$ 3,000
Revenues		$ 43,000	$ 2,300,000	$ 2,100,000
Clean Holdco, Inc. \| Customer Contracts
Business Acquisition [Line Items]
Intangible assets, amortization expense recognized in earnings		3,800
Clean Holdco, Inc. \| Trade Name
Business Acquisition [Line Items]
Intangible assets, amortization expense recognized in earnings		$ 900

Income Taxes (Tables)

12 Months Ended

Aug. 26, 2023

Income Tax Disclosure [Abstract]

Components of Provision / (Benefit) for Income Taxes

The provision for income taxes consists of the following (in thousands):


Year ended	2023		2022		2021
Current:
Federal	$	7,269	$	7,655	$	35,267
Foreign		2,519		1,839		1,714
State		2,695		3,701		9,873
Total current	$	12,483	$	13,195	$	46,854
Deferred:
Federal	$	19,227	$	13,883	$	(1,421	)
Foreign		568		180		848
State		2,885		3,663		(521	)
Total deferred	$	22,680	$	17,726	$	(1,094	)
Total	$	35,163	$	30,921	$	45,760

Reconciliation of Provision for Income Taxes

The following table reconciles the provision for income taxes using the statutory federal income tax rate to the actual provision for income taxes:


Year ended	2023			2022			2021
Income taxes at the statutory federal income tax rate		21.0	%		21.0	%		21.0	%
State income taxes		3.8			4.7			4.2
Adjustments to tax reserve		0.8			(2.1	)		(0.3	)
Other		(0.3	)		(0.6	)		(1.7	)
Effective income tax rate		25.3	%		23.0	%		23.2	%

Components of Deferred Income Taxes

The components of deferred income taxes included on the Consolidated Balance Sheets are as follows (in thousands):


	August 26, 2023		August 27, 2022
Deferred tax assets:
Payroll and benefit related	$	15,284	$	14,923
Insurance related		14,347		15,035
Environmental		7,542		8,212
Accrued expenses		7,847		8,170
Operating lease liabilities		16,162		11,471
Research and development		3,628		—
Other		11,916		9,841
Total deferred tax assets	$	76,726	$	67,652
Deferred tax liabilities:
Payroll and benefit related	$	22,230	$	20,588
Tax in excess of book depreciation		53,597		40,016
Purchased intangible assets		43,994		39,747
Rental merchandise in service		62,562		55,287
Operating lease right-of-use assets		15,600		11,111
Other		488		232
Total deferred tax liabilities		198,471		166,981
Net deferred tax liability	$	121,745	$	99,329

Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):


Balance at August 28, 2021	$	9,321
Additions based on tax positions related to the current year		489
Additions for tax positions of prior years		107
Reduction for tax positions of prior years		(3,013	)
Statute expirations		(487	)
Balance at August 27, 2022		6,417
Additions based on tax positions related to the current year		1,042
Additions for tax positions of prior years		840
Reduction for tax positions of prior years		(219	)
Statute expirations		(329	)
Balance at August 26, 2023	$	7,751

Segment Reporting (Tables)

12 Months Ended

Aug. 26, 2023

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

The Company refers to the U.S. and Canadian Rental and Cleaning, MFG, and Corporate reporting segments combined as its “Core Laundry Operations,” which is included as a subtotal in the following tables (in thousands):


As of and for the year ended August 26, 2023	US and Canadian Rental and Cleaning			MFG		Net Interco MFG Elim			Corporate			Subtotal Core Laundry Operations			Specialty Garments		First Aid			Total
Revenues	$	1,907,765		$	297,752	$	(297,752	)	$	53,424		$	1,961,189		$	177,034	$	94,824		$	2,233,047
Income (loss) from operations	$	293,171		$	88,292	$	(16,717	)	$	(266,080	)	$	98,666		$	37,488	$	(2,551	)	$	133,603
Interest (income) expense, net	$	(3,105	)	$	—	$	—		$	(3,633	)	$	(6,738	)	$	—	$	—		$	(6,738	)
Income (loss) before taxes	$	296,214		$	87,935	$	(16,717	)	$	(264,459	)	$	102,973		$	38,420	$	(2,556	)	$	138,837
Depreciation and amortization	$	86,887		$	2,135	$	—		$	25,255		$	114,277		$	4,020	$	2,936		$	121,233
Capital expenditures	$	159,058		$	78	$	—		$	—		$	159,136		$	8,818	$	4,037		$	171,991
Total assets	$	2,347,895		$	34,655	$	—		$	—		$	2,382,550		$	127,057	$	60,368		$	2,569,975


As of and for the year ended August 27, 2022	US and Canadian Rental and Cleaning			MFG		Net Interco MFG Elim			Corporate			Subtotal Core Laundry Operations			Specialty Garments		First Aid			Total
Revenues	$	1,733,088		$	281,112	$	(281,112	)	$	37,414		$	1,770,502		$	152,885	$	77,435		$	2,000,822
Income (loss) from operations	$	289,018		$	64,884	$	236		$	(243,428	)	$	110,710		$	23,658	$	(17	)	$	134,351
Interest (income) expense, net	$	(2,998	)	$	—	$	—		$	147		$	(2,851	)	$	—	$	—		$	(2,851	)
Income (loss) before taxes	$	291,960		$	64,553	$	236		$	(244,800	)	$	111,949		$	22,396	$	(20	)	$	134,325
Depreciation and amortization	$	75,876		$	2,251	$	—		$	24,075		$	102,202		$	4,097	$	2,478		$	108,777
Capital expenditures	$	135,725		$	255	$	—		$	—		$	135,980		$	7,122	$	1,217		$	144,319
Total assets	$	2,206,608		$	35,748	$	—		$	—		$	2,242,356		$	135,406	$	50,210		$	2,427,972


As of and for the year ended August 28, 2021	US and Canadian Rental and Cleaning			MFG		Net Interco MFG Elim			Corporate			Subtotal Core Laundry Operations			Specialty Garments		First Aid			Total
Revenues	$	1,580,850		$	264,021	$	(264,021	)	$	34,710		$	1,615,560		$	145,454	$	65,202		$	1,826,216
Income (loss) from operations	$	290,774		$	73,579	$	(283	)	$	(192,353	)	$	171,717		$	24,801	$	(693	)	$	195,825
Interest (income) expense, net	$	(2,760	)	$	—	$	—		$	192		$	(2,568	)	$	—	$	—		$	(2,568	)
Income (loss) before taxes	$	293,357		$	73,260	$	(283	)	$	(194,970	)	$	171,364		$	26,198	$	(691	)	$	196,871
Depreciation and amortization	$	73,611		$	2,530	$	—		$	23,190		$	99,331		$	4,510	$	2,114		$	105,955
Capital expenditures	$	129,327		$	456	$	—		$	—		$	129,783		$	3,407	$	449		$	133,639
Total assets	$	2,179,243		$	37,605	$	—		$	—		$	2,216,848		$	119,305	$	44,912		$	2,381,065

Schedule of Long-lived Assets

The Company’s long-lived assets as of August 26, 2023 and August 27, 2022 and revenues and income before income taxes for fiscal 2023, 2022 and 2021 were attributed to the following countries (in thousands):


Long-lived assets as of:	August 26, 2023		August 27, 2022
U.S.	$	1,660,753	$	1,309,119
Europe, Canada, Mexico and Nicaragua (1)		69,104		54,961
Total	$	1,729,857	$	1,364,080

Schedule of Revenues and Income Before Income Taxes


Revenues for fiscal years:	2023		2022		2021
U.S.	$	2,054,601	$	1,831,089	$	1,672,530
Europe and Canada (1)		178,446		169,733		153,686
Total	$	2,233,047	$	2,000,822	$	1,826,216


Income before income taxes for fiscal years:	2023		2022		2021
U.S.	$	129,997	$	128,567	$	187,442
Europe, Canada, Mexico and Nicaragua (1)		8,840		5,758		9,429
Total	$	138,837	$	134,325	$	196,871

No country other than the U.S. accounts for greater than 10% of total long-lived assets, revenues or income before income taxes.

Share-based Compensation (Tables)

12 Months Ended

Aug. 26, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Weighted Average Assumptions

The fair value of each stock appreciation right is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions used:


Fiscal year	2023			2022			2021
Risk-free interest rate		3.97	%		1.27	%		0.47	%
Expected dividend yield		0.62	%		0.60	%		0.58	%
Expected life (in years)		5.43			5.17			5.70
Expected volatility		29.3	%		28.4	%		27.5	%

Summary of Share-Based Award Activity for Stock Options and Stock Appreciation Rights

The following table summarizes the Share-Based Awards activity in the form of stock options and stock appreciation rights for fiscal 2023:


	Number of Shares			Weighted Average Exercise Price
Outstanding, August 27, 2022		368,348		$	151.93
Granted		30,679			186.28
Expired		(770	)		175.86
Exercised		(49,471	)		126.69
Forfeited		(1,169	)		159.83
Outstanding, August 26, 2023		347,617		$	158.47

Exercisable, August 26, 2023		258,173		$	150.86

Summary of Share-Based Award Activity for Restricted Stock Units

The following table summarizes the Share-Based Awards activity in the form of restricted stock units for fiscal 2023:


	Number of Shares			Weighted Average Grant Price
Unvested balance at August 27, 2022		91,700		$	187.43
Granted		51,822			180.25
Vested		(28,247	)		185.49
Forfeited		(6,520	)		185.93
Unvested balance at August 26, 2023		108,755		$	184.60

Asset Retirement Obligations - Rollforward of Asset Retirement Liability (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 26, 2023	Aug. 27, 2022	Aug. 28, 2021
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Beginning balance	$ 15,274	$ 14,887
Accretion expense	923	970	$ 985
Effect of exchange rate changes	274	(583)
Ending balance	$ 16,471	$ 15,274	$ 14,887

Commitments and Contingencies - Narrative (Details) $ in Millions	12 Months Ended
	Aug. 26, 2023 USD ($) Site Company	Aug. 27, 2022 USD ($)	Aug. 28, 2021 USD ($)
Gain Contingencies [Line Items]
Operating lease, existence of option to extend	true
Operating lease, existence of option to terminate	true
Total rent expense on all leases	$ 18.4	$ 16.7	$ 16.2
Estimated rate of inflation	3.00%
Annual proceeds	$ 0.3
Number of sites related to former operations \| Site	2
Balance in escrow account	$ 5.2
Number of insurance companies \| Company	3
Outstanding letters of credit	$ 66.5	$ 60.8
Non-cancellable purchase commitments for inventories, software, and services	74.8
Non-cancellable purchase commitments to be paid in less than one year	45.9
Non-cancellable purchase commitments to be paid in one to three year	16.0
Federal \| Mexican Tax Authority \| Fiscal 2016 Import Taxes
Gain Contingencies [Line Items]
Tax assessment issued	17.0
Tax assessment issued with surcharges, fines and penalties	67.7
Tax assessment issued amount net	$ 84.7
Minimum
Gain Contingencies [Line Items]
Risk-free interest rates utilized	4.30%
Maximum
Gain Contingencies [Line Items]
Risk-free interest rates utilized	4.70%

Share-based Compensation

12 Months Ended

Aug. 26, 2023

Share-Based Payment Arrangement [Abstract]

Share-based Compensation

12. Share-based Compensation

The Company adopted a stock incentive plan (the “2010 Plan”) in October 2010 and reserved 600,000 shares of Common Stock for issuance under the 2010 Plan. The 2010 Plan replaced the Company’s 1996 stock incentive plan. The 2010 Plan permits the award of incentive and non-qualified stock options, stock appreciation rights, restricted stock, restricted stock units, unrestricted stock and performance shares (collectively referred to as “Share-Based Awards”) as well as dividend equivalent rights and cash-based awards. On October 27, 2014, the Board of Directors, subject to the approval of the Company’s shareholders, which was received at the 2015 annual meeting of shareholders, adopted an amendment to the 2010 Plan to, among other matters, reserve for issuance an additional 750,000 shares and extend to 2025 the time period awards may be granted under the 2010 Plan. As of August 26, 2023, the number of remaining shares available for future grants under the 2010 Plan was 98,769. Share-based compensation expense, which includes expense related to Share-Based Awards, has been recorded in the accompanying Consolidated Statements of Income in selling and administrative expenses.

All Share-Based Awards issued to management were recommended to the Board of Directors by the Compensation Committee and approved by the Board of Directors. All Share-Based Awards issued to the Company’s non-employee members of the Board of Directors (the “Directors”) under the 2010 Plan were recommended to the Board of Directors by the Compensation Committee and approved by the Board of Directors.

In fiscal 2023, a total of 1,575 shares of fully vested unrestricted stock were granted to certain non-employee Directors of the Company. In fiscal 2022, a total of 1,025 shares of fully vested unrestricted stock were granted to certain non-employee Directors of the Company. No such shares were granted during fiscal 2021. Accordingly, compensation expense related to the unrestricted stock granted in each of fiscal 2023 and 2022 were recognized on the date of grant.

In fiscal 2023, the Company granted a total of 6,864 stock appreciation rights under the 2010 Plan to the Company’s non-employee Directors. In fiscal 2022, the Company granted a total of 9,750 stock appreciation rights under the 2010 Plan to the

Company’s non-employee Directors. In fiscal 2021, the Company granted a total of 5,000 stock appreciation rights under the 2010 Plan to the Company’s non-employee Directors. Such stock appreciation rights were fully vested upon grant, expire on the earlier of the eighth anniversary of the grant date or the second anniversary of the date that the Director ceases to be a member of the Board of Directors and must be settled in stock at the time of exercise. Accordingly, compensation expense related to the stock appreciation rights was recognized on the date of grant.

As of August 26, 2023, the total compensation cost not yet recognized related to non-vested Share-Based Awards was approximately $15.5 million. The weighted average period over which compensation cost for Share-Based Awards will be recognized is 1.36 years.

All stock appreciation rights issued to employees were granted with an exercise price equal to the fair value of the Company’s Common Stock on the date of grant. Stock appreciation rights generally vest 20% on each anniversary of the grant date over a five-year period and expire ten years after the grant date. Share-Based Awards granted to the Company’s non-employee Directors were fully vested as of the date of grant. Non-employee Director Share-Based Award grants in the form of stock appreciation rights expire on the earlier of the eighth anniversary of the grant date or the second anniversary of the date that the Director ceases to be a member of the Board of Directors.

Time-based restricted stock units granted to employees vest 20% on each anniversary of the grant date over a five-year period. Generally, performance-based restricted stock units granted to employees are earned based on whether and the extent to which the Company achieves certain profitability targets.

The fair value of each stock appreciation right is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions used:


Fiscal year	2023			2022			2021
Risk-free interest rate		3.97	%		1.27	%		0.47	%
Expected dividend yield		0.62	%		0.60	%		0.58	%
Expected life (in years)		5.43			5.17			5.70
Expected volatility		29.3	%		28.4	%		27.5	%

The weighted average fair values of Share-Based Awards granted in the form of stock appreciation rights during fiscal years 2023, 2022 and 2021 were $60.38, $51.25 and $42.63, respectively.

The following table summarizes the Share-Based Awards activity in the form of stock options and stock appreciation rights for fiscal 2023:


	Number of Shares			Weighted Average Exercise Price
Outstanding, August 27, 2022		368,348		$	151.93
Granted		30,679			186.28
Expired		(770	)		175.86
Exercised		(49,471	)		126.69
Forfeited		(1,169	)		159.83
Outstanding, August 26, 2023		347,617		$	158.47

Exercisable, August 26, 2023		258,173		$	150.86

The following table summarizes the Share-Based Awards activity in the form of restricted stock units for fiscal 2023:


	Number of Shares			Weighted Average Grant Price
Unvested balance at August 27, 2022		91,700		$	187.43
Granted		51,822			180.25
Vested		(28,247	)		185.49
Forfeited		(6,520	)		185.93
Unvested balance at August 26, 2023		108,755		$	184.60

Segment Reporting

12 Months Ended

Aug. 26, 2023

Segment Reporting [Abstract]

Segment Reporting

15. Segment Reporting

Operating segments are identified as components of an enterprise for which separate discrete financial information is available for evaluation by the chief operating decision-maker, or decision-making group, in making decisions on how to allocate resources and assess performance. The Company’s chief operating decision maker is the Company’s chief executive officer. The Company has six operating segments based on the information reviewed by its chief executive officer: U.S. Rental and Cleaning, Canadian Rental and Cleaning, MFG, Specialty Garments, First Aid and Corporate. The U.S. Rental and Cleaning and Canadian Rental and Cleaning operating segments have been combined to form the U.S. and Canadian Rental and Cleaning reporting segment, and as a result, the Company has five reporting segments.

The U.S. and Canadian Rental and Cleaning reporting segment purchases, rents, cleans, delivers and sells, uniforms and protective clothing and non-garment items in the U.S. and Canada. The laundry locations of the U.S. and Canadian Rental and Cleaning reporting segment are referred to by the Company as “industrial laundries” or “industrial laundry locations.”

The MFG operating segment designs and manufactures uniforms and non-garment items primarily for the purpose of providing these goods to the U.S. and Canadian Rental and Cleaning reporting segment. MFG revenues are primarily generated when goods are shipped from the Company’s manufacturing facilities, or its subcontract manufacturers, to other Company locations. These intercompany revenues are recorded at a transfer price which is typically in excess of the actual manufacturing cost. Manufactured products are carried in inventory until placed in service at which time they are amortized at this transfer price. On a consolidated basis, intercompany revenues and income are eliminated and the carrying value of inventories and rental merchandise in service is reduced to the manufacturing cost. Income before income taxes from MFG net of the intercompany MFG elimination offsets the merchandise amortization costs incurred by the U.S. and Canadian Rental and Cleaning reporting segment as the merchandise costs of this reporting segment are amortized and recognized based on inventories purchased from MFG at the transfer price which is above the Company’s manufacturing cost.

The Corporate operating segment consists of costs associated with the Company’s distribution center, sales and marketing, information systems, engineering, procurement, supply chain, accounting and finance, human resources, other general and administrative costs and interest expense. The revenues generated from the Corporate operating segment represent certain direct sales made by the Company directly from its distribution center. The products sold by this operating segment are the same products rented and sold by the U.S. and Canadian Rental and Cleaning reporting segment. In the table below, no assets or capital expenditures are presented for the Corporate operating segment because no assets are allocated to this operating segment in the information reviewed by the chief executive officer. However, depreciation and amortization expense related to certain assets are reflected in income from operations and income before income taxes for the Corporate operating segment. The assets that give rise to this depreciation and amortization are included in the total assets of the U.S. and Canadian Rental and Cleaning reporting segment as this is how they are tracked and reviewed by the Company. The majority of expenses accounted for within the Corporate segment relate to costs of the U.S. and Canadian Rental and Cleaning segment, with the remainder of the costs relating to the Specialty Garment and First Aid segments.

The Specialty Garments operating segment purchases, rents, cleans, delivers and sells, specialty garments and non-garment items primarily for nuclear and cleanroom applications and provides cleanroom cleaning services at certain customer locations. The First Aid operating segment sells first aid cabinet services and other safety supplies, provides certain safety training and maintains wholesale distribution and pill packaging operations.


As of and for the year ended August 26, 2023	US and Canadian Rental and Cleaning			MFG		Net Interco MFG Elim			Corporate			Subtotal Core Laundry Operations			Specialty Garments		First Aid			Total
Revenues	$	1,907,765		$	297,752	$	(297,752	)	$	53,424		$	1,961,189		$	177,034	$	94,824		$	2,233,047
Income (loss) from operations	$	293,171		$	88,292	$	(16,717	)	$	(266,080	)	$	98,666		$	37,488	$	(2,551	)	$	133,603
Interest (income) expense, net	$	(3,105	)	$	—	$	—		$	(3,633	)	$	(6,738	)	$	—	$	—		$	(6,738	)
Income (loss) before taxes	$	296,214		$	87,935	$	(16,717	)	$	(264,459	)	$	102,973		$	38,420	$	(2,556	)	$	138,837
Depreciation and amortization	$	86,887		$	2,135	$	—		$	25,255		$	114,277		$	4,020	$	2,936		$	121,233
Capital expenditures	$	159,058		$	78	$	—		$	—		$	159,136		$	8,818	$	4,037		$	171,991
Total assets	$	2,347,895		$	34,655	$	—		$	—		$	2,382,550		$	127,057	$	60,368		$	2,569,975


As of and for the year ended August 27, 2022	US and Canadian Rental and Cleaning			MFG		Net Interco MFG Elim			Corporate			Subtotal Core Laundry Operations			Specialty Garments		First Aid			Total
Revenues	$	1,733,088		$	281,112	$	(281,112	)	$	37,414		$	1,770,502		$	152,885	$	77,435		$	2,000,822
Income (loss) from operations	$	289,018		$	64,884	$	236		$	(243,428	)	$	110,710		$	23,658	$	(17	)	$	134,351
Interest (income) expense, net	$	(2,998	)	$	—	$	—		$	147		$	(2,851	)	$	—	$	—		$	(2,851	)
Income (loss) before taxes	$	291,960		$	64,553	$	236		$	(244,800	)	$	111,949		$	22,396	$	(20	)	$	134,325
Depreciation and amortization	$	75,876		$	2,251	$	—		$	24,075		$	102,202		$	4,097	$	2,478		$	108,777
Capital expenditures	$	135,725		$	255	$	—		$	—		$	135,980		$	7,122	$	1,217		$	144,319
Total assets	$	2,206,608		$	35,748	$	—		$	—		$	2,242,356		$	135,406	$	50,210		$	2,427,972


As of and for the year ended August 28, 2021	US and Canadian Rental and Cleaning			MFG		Net Interco MFG Elim			Corporate			Subtotal Core Laundry Operations			Specialty Garments		First Aid			Total
Revenues	$	1,580,850		$	264,021	$	(264,021	)	$	34,710		$	1,615,560		$	145,454	$	65,202		$	1,826,216
Income (loss) from operations	$	290,774		$	73,579	$	(283	)	$	(192,353	)	$	171,717		$	24,801	$	(693	)	$	195,825
Interest (income) expense, net	$	(2,760	)	$	—	$	—		$	192		$	(2,568	)	$	—	$	—		$	(2,568	)
Income (loss) before taxes	$	293,357		$	73,260	$	(283	)	$	(194,970	)	$	171,364		$	26,198	$	(691	)	$	196,871
Depreciation and amortization	$	73,611		$	2,530	$	—		$	23,190		$	99,331		$	4,510	$	2,114		$	105,955
Capital expenditures	$	129,327		$	456	$	—		$	—		$	129,783		$	3,407	$	449		$	133,639
Total assets	$	2,179,243		$	37,605	$	—		$	—		$	2,216,848		$	119,305	$	44,912		$	2,381,065


Long-lived assets as of:	August 26, 2023		August 27, 2022
U.S.	$	1,660,753	$	1,309,119
Europe, Canada, Mexico and Nicaragua (1)		69,104		54,961
Total	$	1,729,857	$	1,364,080


Revenues for fiscal years:	2023		2022		2021
U.S.	$	2,054,601	$	1,831,089	$	1,672,530
Europe and Canada (1)		178,446		169,733		153,686
Total	$	2,233,047	$	2,000,822	$	1,826,216


Income before income taxes for fiscal years:	2023		2022		2021
U.S.	$	129,997	$	128,567	$	187,442
Europe, Canada, Mexico and Nicaragua (1)		8,840		5,758		9,429
Total	$	138,837	$	134,325	$	196,871

(1)

No country other than the U.S. accounts for greater than 10% of total long-lived assets, revenues or income before income taxes.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Employee Benefit Plans - Obligations and Funded Status (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 26, 2023	Aug. 27, 2022	Aug. 28, 2021
Pension Plans
Change in benefit obligation:
Projected benefit obligation, beginning of year	$ 3,837	$ 5,035
Service cost	73	72	$ 71
Interest cost	147	104	104
Actuarial (gain) loss	(220)	(861)
Benefits paid	(17)	(23)
Settlements/Curtailments	(271)	(490)
Projected benefit obligation, end of year	3,549	3,837	5,035
Change in plan assets:
Fair value of plan assets, beginning of year	3,300	3,796
Actual return on plan assets	26	17
Benefits paid	(17)	(23)
Settlements/Curtailments	(271)	(490)
Fair value of plan assets, end of year	2,986	3,300	3,796
Funded status (net amount recognized):	(563)	(537)
SERP
Change in benefit obligation:
Projected benefit obligation, beginning of year	27,562	36,644
Service cost	486	919	1,100
Interest cost	1,191	928	943
Actuarial (gain) loss	(2,811)	(8,871)
Benefits paid	(1,309)	(1,203)
Settlements/Curtailments		(855)
Projected benefit obligation, end of year	25,119	27,562	$ 36,644
Change in plan assets:
Funded status (net amount recognized):	$ (25,119)	$ (27,562)

Commitments and Contingencies - Changes to Environmental Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 26, 2023	Aug. 27, 2022	Aug. 28, 2021
Accrual For Environmental Loss Contingencies Roll Forward
Beginning balance	$ 32,191	$ 32,859
Costs incurred for which reserves have been provided	(1,936)	(2,188)
Insurance proceeds	147	135
Interest accretion	1,036	596	$ 448
Changes in discount rates	(2,446)	(3,235)
Revisions in estimates	1,037	4,024
Ending balance	$ 30,029	$ 32,191	$ 32,859
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration]	Accounts Payable and Accrued Liabilities, Noncurrent

Consolidated Statements of Cash Flows - Parenthetical - USD ($) $ in Millions	12 Months Ended
	Aug. 26, 2023	Aug. 27, 2022
Statement of Cash Flows [Abstract]
Non-cash amortization expense	$ 14.7	$ 10.9

Fair Value Measurements - Schedule of Assets or Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Aug. 26, 2023	Aug. 27, 2022
Assets:
Short-term investments	$ 10,157	$ 0
Fair Value, Measurements, Recurring
Assets:
Cash equivalents		197,121
Short-term investments	10,157
Pension plan assets	2,978	3,291
Non-qualified deferred compensation plan assets	2,024	1,263
Foreign currency forward contracts	216	83
Total assets at fair value	15,375	201,758
Liabilities:
Non-qualified deferred compensation plan liability	480	37
Total liabilities at fair value	480	37
Fair Value, Measurements, Recurring \| Level 1
Assets:
Cash equivalents		197,121
Short-term investments	0
Pension plan assets	0	0
Non-qualified deferred compensation plan assets	0	0
Foreign currency forward contracts	0	0
Total assets at fair value	0	197,121
Liabilities:
Non-qualified deferred compensation plan liability	0	0
Total liabilities at fair value	0	0
Fair Value, Measurements, Recurring \| Level 2
Assets:
Cash equivalents		0
Short-term investments	10,157
Pension plan assets	2,978	3,291
Non-qualified deferred compensation plan assets	2,024	1,263
Foreign currency forward contracts	216	83
Total assets at fair value	15,375	4,637
Liabilities:
Non-qualified deferred compensation plan liability	480	37
Total liabilities at fair value	480	37
Fair Value, Measurements, Recurring \| Level 3
Assets:
Cash equivalents		0
Short-term investments	0
Pension plan assets	0	0
Non-qualified deferred compensation plan assets	0	0
Foreign currency forward contracts	0	0
Total assets at fair value	0	0
Liabilities:
Non-qualified deferred compensation plan liability	0	0
Total liabilities at fair value	$ 0	$ 0

Share-based Compensation - Summary of Share-Based Award Activity for Restricted Stock Units (Details) - Restricted Stock Units (RSUs)	12 Months Ended
	Aug. 26, 2023 $ / shares shares
Number of Shares
Outstanding at beginning of period (in shares) \| shares	91,700
Shares granted (in shares) \| shares	51,822
Vested \| shares	(28,247)
Forfeited \| shares	(6,520)
Outstanding at end of period (in shares) \| shares	108,755
Weighted Average Grant Price
Outstanding at beginning of period (in dollars per share) \| $ / shares	$ 187.43
Granted \| $ / shares	180.25
Vested \| $ / shares	185.49
Forfeited \| $ / shares	185.93
Outstanding at end of period (in dollars per share) \| $ / shares	$ 184.60

Employee Benefit Plans (Tables)

12 Months Ended

Aug. 26, 2023

Postemployment Benefits [Abstract]

Components of Net Periodic Benefit Cost

The components of net periodic benefit cost for fiscal 2023, 2022 and 2021 were as follows (in thousands):


	UniFirst Plan									SERP
	2023			2022			2021			2023		2022			2021
Service cost	$	73		$	72		$	71		$	486	$	919		$	1,100
Interest cost		147			104			104			1,191		928			943
Expected return on assets		(101	)		(118	)		(131	)		—		—			—
Amortization of prior service cost		21			21			55			—		—			—
Amortization of net loss		—			20			36			—		516			821
Other events		(12	)		(10	)		49			—		(855	)		—
Net periodic benefit cost	$	128		$	89		$	184		$	1,677	$	1,508		$	2,864

Schedule of Obligations and Funded Status

The Company’s obligations and funded status as of August 26, 2023 and August 27, 2022 were as follows (in thousands):


	UniFirst Plan						SERP
	2023			2022			2023			2022
Change in benefit obligation:
Projected benefit obligation, beginning of year	$	3,837		$	5,035		$	27,562		$	36,644
Service cost		73			72			486			919
Interest cost		147			104			1,191			928
Actuarial gain		(220	)		(861	)		(2,811	)		(8,871	)
Benefits paid		(17	)		(23	)		(1,309	)		(1,203	)
Settlements/Curtailments		(271	)		(490	)		—			(855	)
Projected benefit obligation, end of year	$	3,549		$	3,837		$	25,119		$	27,562

Change in plan assets:
Fair value of plan assets, beginning of year	$	3,300		$	3,796		$	—		$	—
Actual return on plan assets		(26	)		17			—			—
Benefits paid		(17	)		(23	)		—			—
Settlements/Curtailments		(271	)		(490	)		—			—
Fair value of plan assets, end of year	$	2,986		$	3,300		$	—		$	—
Funded status (net amount recognized)	$	(563	)	$	(537	)	$	(25,119	)	$	(27,562	)

Schedule of Amounts Recorded on Consolidated Balance Sheet

The amounts recorded on the Consolidated Balance Sheet as of August 26, 2023 and August 27, 2022 were as follows (in thousands):


	Pension Plans					SERP
	2023			2022		2023			2022
Deferred tax (liabilities) assets	$	(16	)	$	184	$	(904	)	$	(10	)
Accrued liabilities		563			537		25,119			27,562
Accumulated other comprehensive income (loss)		46			40		2,628			(720	)

Schedule of Amounts Recognized in Accumulated Other Comprehensive Loss

As of August 26, 2023 and August 27, 2022, the amounts recognized in accumulated other comprehensive loss were as follows (in thousands):


	UniFirst Plan						SERP
	2023			2022			2023		2022
Net actuarial (loss) gain	$	(94	)	$	(75	)	$	3,531	$	(720	)
Unrecognized prior service cost		156			115			—		—
Accumulated other comprehensive income (loss)	$	62		$	40		$	3,531	$	(720	)

Weighted Average Assumptions Used in Calculating Projected Benefit Obligation

The weighted average assumptions used in calculating the Company’s projected benefit obligation as of August 26, 2023 and August 27, 2022, were as follows:


	UniFirst Plan						SERP
	2023			2022			2023			2022
Discount rate		5.1	%		4.3	%		5.2	%		4.4	%
Rate of compensation increase	N/A			N/A				5.0	%		5.0	%

Weighted Average Assumptions Used in Calculating Net Periodic Service Cost

The weighted average assumptions used in calculating the Company’s net periodic service cost for fiscal 2023, 2022 and 2021 were as follows:


	UniFirst Plan									SERP
	2023			2022			2021			2023			2022			2021
Discount rate		4.3	%		2.3	%		2.0	%		4.4	%		2.6	%		2.5	%
Expected return on plan assets		3.5	%		3.5	%		3.5	%	N/A			N/A			N/A
Rate of compensation increase	N/A			N/A			N/A				5.0	%		5.0	%		5.0	%

Schedule of Expected Future Benefit Payments

The benefit payments, which reflect expected future service, that are expected to be paid for the five fiscal years subsequent to August 26, 2023 and five years thereafter are as follows (in thousands):


	UniFirst Plan		SERP
2024	$	767	$	1,509
2025		317		1,567
2026		312		1,695
2027		135		1,752
2028		236		1,676
2029-2033		1,191		8,396

Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Aug. 26, 2023

Stockholders' Equity Note [Abstract]

Schedule of Changes in Components of Accumulated Other Comprehensive Loss

The changes in each component of accumulated other comprehensive loss for fiscal 2023 and 2022 are as follows (in thousands):


	Foreign Currency Translation			Pension- related (1)			Derivative Financial Instruments (1)		Total Accumulated Other Comprehensive Loss
Balance as of August 28, 2021	$	(17,801	)	$	(7,066	)	$	31	$	(24,836	)
Change during the year		(7,002	)		7,518			30		546
Balance as of August 27, 2022		(24,803	)		452			61		(24,290	)
Change during the year		(1,701	)		2,130			100		529
Balance as of August 26, 2023	$	(26,504	)	$	2,582		$	161	$	(23,761	)

(1)

Amounts are shown net of tax.

Schedule of Amounts Reclassified from Accumulated Other Comprehensive Loss, Net of Tax

Amounts reclassified from accumulated other comprehensive loss, net of tax, for fiscal 2023 and 2022 were as follows (in thousands):


Year ended	August 26, 2023			August 27, 2022
Pension benefit liabilities, net:
Actuarial loss (gain) (a)	$	(16	)	$	(414	)
Total, net of tax		(16	)		(414	)
Derivative financial instruments, net:
Forward contracts loss (gain) (b)		93			68
Total, net of tax		93			68
Total amounts reclassified, net of tax	$	77		$	(346	)

(a)

Amounts included in selling and administrative expenses in the accompanying Consolidated Statements of Income.

(b)

Amounts included in revenues in the accompanying Consolidated Statements of Income.

Fair Value Measurements (Tables)

12 Months Ended

Aug. 26, 2023

Fair Value Disclosures [Abstract]

Schedule of Assets or Liabilities Measured at Fair Value on a Recurring Basis

The assets or liabilities measured at fair value on a recurring basis are summarized in the tables below (in thousands):


	As of August 26, 2023
	Level 1		Level 2		Level 3		Fair Value
Assets:
Short-term investments	$	—	$	10,157	$	—	$	10,157
Pension plan assets		—		2,978		—		2,978
Non-qualified deferred compensation plan assets		—		2,024		—		2,024
Foreign currency forward contracts		—		216		—		216
Total assets at fair value	$	—	$	15,375	$	—	$	15,375
Liabilities:
Non-qualified deferred compensation plan liability	$	—	$	480	$	—	$	480
Total liabilities at fair value	$	—	$	480	$	—	$	480


	As of August 27, 2022
	Level 1		Level 2		Level 3		Fair Value
Assets:
Cash equivalents	$	197,121	$	—	$	—	$	197,121
Pension plan assets		—		3,291		—		3,291
Non-qualified deferred compensation plan assets		—		1,263		—		1,263
Foreign currency forward contracts		—		83		—		83
Total assets at fair value	$	197,121	$	4,637	$	—	$	201,758
Liabilities:
Non-qualified deferred compensation plan liability	$	—	$	37	$	—	$	37
Total liabilities at fair value	$	—	$	37	$	—	$	37

Segment Reporting - Long-Lived Assets by Geographic Area (Details) - USD ($)
$ in Thousands

Aug. 26, 2023

Aug. 27, 2022

Revenues From External Customers And Long Lived Assets [Line Items]

Long-lived assets

$ 1,729,857

$ 1,364,080

United States

Revenues From External Customers And Long Lived Assets [Line Items]

Long-lived assets

1,660,753

1,309,119

Europe, Canada, Mexico and Nicaragua

Revenues From External Customers And Long Lived Assets [Line Items]

Long-lived assets

^[1]

$ 69,104

$ 54,961

[1]	No country other than the U.S. accounts for greater than 10% of total long-lived assets, revenues or income before income taxes.

Shareholders' Equity - Narrative (Details)					12 Months Ended
Shareholders' Equity - Narrative (Details)	Oct. 24, 2023 USD ($) $ / shares	Oct. 25, 2022 $ / shares	Jul. 15, 2022 USD ($) $ / shares shares	Oct. 20, 2021 $ / shares	Aug. 26, 2023 USD ($) shares	Aug. 27, 2022 $ / shares shares	Aug. 28, 2021 $ / shares shares	Aug. 31, 2019 Vote
Class Of Stock [Line Items]
Shares repurchased (in shares) \| shares						213,419	60,950
Total cost of shares repurchased divided by the total number of shares repurchased						$ 179.98	$ 184.13
Stock repurchase, remaining to repurchase outstanding shares value \| $					$ 63,600,000
Common Stock
Class Of Stock [Line Items]
Voting rights \| Vote								1
Dividend rate								125.00%
Quarterly dividend amount (in dollars per share)		$ 0.31		$ 0.30
Class B Common Stock
Class Of Stock [Line Items]
Voting rights \| Vote								10
Number of shares converted (in shares) \| shares					0	17,000	0
Quarterly dividend amount (in dollars per share)		$ 0.248		$ 0.24
Shares repurchased (in shares) \| shares			35,714
Total cost of shares repurchased divided by the total number of shares repurchased			$ 168
Shares repurchased, Value \| $			$ 6,000,000
Subsequent Event \| Maximum
Class Of Stock [Line Items]
Stock repurchase authorized, Value \| $	$ 100,000,000.0
Subsequent Event \| Common Stock
Class Of Stock [Line Items]
Quarterly dividend amount (in dollars per share)	$ 0.33
Subsequent Event \| Class B Common Stock
Class Of Stock [Line Items]
Quarterly dividend amount (in dollars per share)	$ 0.264

Fair Value Measurements - Narrative (Details)	12 Months Ended
Fair Value Measurements - Narrative (Details)	Aug. 26, 2023
UniFirst Plan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Minimum annual interest rate	3.25%

Segment Reporting - Narrative (Details)	12 Months Ended
Segment Reporting - Narrative (Details)	Aug. 26, 2023 Segment
Segment Reporting [Abstract]
Number of operating segments	6
Number of reporting segments	5

Accumulated Other Comprehensive Loss - Amounts Reclassified from Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Thousands

12 Months Ended

Aug. 26, 2023

Aug. 27, 2022

Aug. 28, 2021

Accumulated Other Comprehensive Income Loss [Line Items]

Selling and administrative expenses

^[1]

$ 496,915

$ 451,243

$ 383,161

Net income

103,674

103,404

$ 151,111

Reclassification out of Accumulated Other Comprehensive Income

Accumulated Other Comprehensive Income Loss [Line Items]

Net income

(346)

Actuarial Losses | Reclassification out of Accumulated Other Comprehensive Income

Accumulated Other Comprehensive Income Loss [Line Items]

Selling and administrative expenses

^[2]

(16)

(414)

Pension Benefit Liabilities, Net | Reclassification out of Accumulated Other Comprehensive Income

Accumulated Other Comprehensive Income Loss [Line Items]

Net income

(16)

(414)

Derivative Financial Instruments | Reclassification out of Accumulated Other Comprehensive Income

Accumulated Other Comprehensive Income Loss [Line Items]

Net income

Derivative Financial Instruments | Forward Contracts | Reclassification out of Accumulated Other Comprehensive Income

Accumulated Other Comprehensive Income Loss [Line Items]

Revenues

^[3]

$ 93

$ 68

[1]	Exclusive of depreciation on the Company’s property, plant and equipment and amortization of its intangible assets.
[2]	Amounts included in selling and administrative expenses in the accompanying Consolidated Statements of Income.
[3]	Amounts included in revenues in the accompanying Consolidated Statements of Income.

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

+ Details

Related Party	12 Months Ended
Related Party	Aug. 26, 2023
Related Party Transactions [Abstract]
Related Party	Related Party During fiscal 2023, the Company recorded $0.2 million and $3.2 million of revenue and expense, respectively, with a company for which one member of the Company's Board of Directors is an executive officer.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section 50
-Paragraph 5
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-URI https://asc.fasb.org//1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
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-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (d)
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-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

+ Details

Share-based Compensation - Schedule of Weighted Average Assumptions (Details) - Stock Appreciation Rights (SARs)	12 Months Ended
	Aug. 26, 2023	Aug. 27, 2022	Aug. 28, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	3.97%	1.27%	0.47%
Expected dividend yield	0.62%	0.60%	0.58%
Expected life in years	5 years 5 months 4 days	5 years 2 months 1 day	5 years 8 months 12 days
Expected volatility	29.30%	28.40%	27.50%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Accrued Liabilities

12 Months Ended

Aug. 26, 2023

Payables and Accruals [Abstract]

Accrued Liabilities

9. Accrued Liabilities

Accrued liabilities in the accompanying Consolidated Balance Sheet consists of the following (in thousands):


	August 26, 2023		August 27, 2022
Current liabilities:
Payroll and benefit related	$	41,015	$	48,415
Bonuses		19,893		15,476
Insurance related		34,343		32,410
Environmental related		13,835		12,254
Other		47,322		38,253
Total current liabilities	$	156,408	$	146,808

Long-term liabilities:
Benefit related		24,174	$	26,779
Environmental related		16,194		19,937
Asset retirement obligations		16,471		15,274
Insurance related		64,843		61,989
Total long-term liabilities	$	121,682	$	123,979
Total accrued liabilities	$	278,090	$	270,787

Asset Retirement Obligations

12 Months Ended

Aug. 26, 2023

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligations

10. Asset Retirement Obligations

Asset retirement obligations generally result from legal obligations associated with the retirement of long-lived assets that result from the acquisition, construction, development and/or the normal operation of a long-lived asset. Accordingly, the Company recognizes asset retirement obligations in the period in which they are incurred if a reasonable estimate of fair value can be made. The associated asset retirement costs are capitalized as part of the carrying amount of the long-lived asset. The Company continues to depreciate, on a straight-line basis, the amount added to property, plant and equipment and recognizes accretion expense in connection with the discounted liability over the various remaining lives which range from approximately one to twenty-one years.

The Company recognized as a liability the present value of the estimated future costs to decommission its nuclear laundry facilities. The estimated liability is based on historical experience in decommissioning nuclear laundry facilities, estimated useful lives of the underlying assets, external vendor estimates as to the cost to decommission these assets in the future, and federal and state regulatory requirements. The estimated current costs have been adjusted for the estimated impact of inflation at 3% per year. The liability has been discounted using credit-adjusted risk-free rates that range from approximately 7.0% to 7.5%. Revisions to the liability could occur due to changes in the Company’s estimated useful lives of the underlying assets, estimated dates of decommissioning, changes in decommissioning costs, changes in federal or state regulatory guidance on the decommissioning of such facilities, or other changes in estimates. Changes due to revised estimates are recognized by adjusting the carrying amount of the liability and the related long-lived asset if the assets are still in service, or charged to expense in the period if the assets are no longer in service.

A reconciliation of the Company’s asset retirement is as follows for fiscal 2023 and 2022:


(In thousands)	August 26, 2023		August 27, 2022
Beginning balance	$	15,274	$	14,887
Accretion expense		923		970
Effect of exchange rate changes		274		(583	)
Ending balance	$	16,471	$	15,274

The Company’s asset retirement obligations are included in long-term accrued liabilities in the accompanying Consolidated Balance Sheet.

Income Taxes - Reconciliation of Provision for Income Taxes (Details)	12 Months Ended
	Aug. 26, 2023	Aug. 27, 2022	Aug. 28, 2021
Income Tax Disclosure [Abstract]
Income taxes at the statutory federal income tax rate	21.00%	21.00%	21.00%
State income taxes	3.80%	4.70%	4.20%
Adjustments to tax reserve	0.80%	(2.10%)	(0.30%)
Other	(0.30%)	(0.60%)	(1.70%)
Total	25.30%	23.00%	23.20%

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Aug. 26, 2023	Aug. 27, 2022	Aug. 28, 2021
Pay vs Performance Disclosure
Net Income (Loss)	$ 103,674	$ 103,404	$ 151,111

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Employee Benefit Plans - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 26, 2023	Aug. 27, 2022	Aug. 28, 2021
Pension Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	$ 73	$ 72	$ 71
Interest cost	147	104	104
Expected return on assets	$ (101)	$ (118)	$ (131)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent
Amortization of prior service cost	$ 21	$ 21	$ 55
Amortization of net loss		20	36
Other events	(12)	(10)	49
Net periodic benefit cost	128	89	184
SERP
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	486	919	1,100
Interest cost	1,191	928	943
Amortization of net loss		516	821
Other events		(855)
Net periodic benefit cost	$ 1,677	$ 1,508	$ 2,864

Long-Term Debt

12 Months Ended

Aug. 26, 2023

Debt Disclosure [Abstract]

Long-Term Debt

5. Long-Term Debt

On March 26, 2021, the Company entered into an amended and restated $175.0 million unsecured revolving credit agreement (as subsequently amended, the “Credit Agreement”) with a syndicate of banks, which matures on March 26, 2026. Under the Credit Agreement, the Company was able to borrow funds at variable interest rates based on, at the Company’s election, the Eurodollar rate or a base rate, plus in each case a spread based on the Company’s consolidated funded debt ratio.

On March 9, 2023, the Company exercised the accordion feature of the Credit Agreement pursuant to an amendment to the Credit Agreement. The exercise of the accordion feature increases the aggregate commitments under the Credit Agreement by $100.0 million, for a total aggregate commitment of up to $275.0 million. In addition, the amendment provides for the replacement of LIBOR with SOFR such that borrowings are based on, at the Company’s election, the SOFR rate or a base rate, plus in each case a spread based on the Company’s consolidated funded debt ratio. The amendment also refreshed the accordion feature, so that, provided there is no default or event of default under the Credit Agreement and the Company is in compliance with its financial covenants on a pro forma basis, the Company may request an increase in the aggregate commitments under the Credit Agreement (in the form of revolving or term tranches) of up to an additional $100.0 million, for a total aggregate commitment of up to $375.0 million. Availability of credit requires compliance with certain financial and other covenants, including a maximum consolidated funded debt ratio and minimum consolidated interest coverage ratio as defined in the Credit Agreement. The Company evaluates its compliance with these financial covenants on a fiscal quarterly basis. As of August 26, 2023, the interest rates applicable to the Company’s borrowings under the Credit Agreement would be calculated as SOFR plus 1.00% at the time of the respective borrowing.

During the third fiscal quarter of 2023, the Company borrowed $80.0 million under its Credit Agreement to finance the acquisition of Clean and fund its day-to-day operations. All amounts were repaid during the third quarter and the Company had no outstanding borrowings as of August 26, 2023. As of August 26, 2023, the Company had outstanding letters of credit amounting to $66.5 million, leaving $208.5 million available for borrowing under the Credit Agreement.

As of August 26, 2023, the Company was in compliance with all covenants under the Credit Agreement.

Share-based Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions		12 Months Ended
	Oct. 27, 2014	Aug. 26, 2023	Aug. 27, 2022	Aug. 28, 2021	Oct. 30, 2010
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage vested after each anniversary of the grant date		20.00%
Expiration period		10 years
Weighted average fair values of Share-Based Awards granted (in dollars per share)		$ 60.38	$ 51.25	$ 42.63
Stock Appreciation Rights (SARs) \| Cliff Vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period awards become fully vested or exercisable		5 years
Share-Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation cost not yet recognized related to non-vested awards		$ 15.5
Period for recognition		1 year 4 months 9 days
Time-Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage vested after each anniversary of the grant date		20.00%
Period awards become fully vested or exercisable		5 years
Non-Employee Directors \| Unrestricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)		1,575	1,025	0
The 2010 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares reserved for issuance (in shares)					600,000
Number of additional shares reserved for issuance (in shares)	750,000
Shares available for future grants (in shares)		98,769
The 2010 Plan \| Non-Employee Directors \| Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)		6,864	9,750	5,000

Employee Benefit Plans - Expected Benefit Payments (Details) $ in Thousands	Aug. 26, 2023 USD ($)
Pension Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
2024	$ 767
2025	317
2026	312
2027	135
2028	236
2029-2033	1,191
SERP
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
2024	1,509
2025	1,567
2026	1,695
2027	1,752
2028	1,676
2029-2033	$ 8,396

Goodwill and Other Intangible Assets

12 Months Ended

Aug. 26, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

8. Goodwill and Other Intangible Assets

When the Company acquires a business, the amount assigned to the tangible assets and liabilities and intangible assets acquired is based on their respective fair values determined as of the acquisition date. The excess of the purchase price over the tangible assets and liabilities and intangible assets is recorded as goodwill. The Company does not amortize goodwill, but it is reviewed annually or more frequently if certain indicators arise, for impairment. There were no impairment losses related to goodwill or intangible assets during fiscal 2023, 2022 and 2021.

The changes in the carrying amount of goodwill are as follows (in thousands):


Balance as of August 28, 2021	$	429,538
Goodwill recorded during the period		27,964
Other		(243	)
Balance as of August 27, 2022	$	457,259
Goodwill recorded during the period		190,777
Other		(136	)
Balance as of August 26, 2023	$	647,900

As of August 26, 2023, the Company has allocated $636.4 million, $10.9 million and $0.6 million of goodwill to its U.S. and Canadian Rental and Cleaning, Specialty Garments and First Aid segments, respectively.

Intangible assets, net in the Company’s accompanying Consolidated Balance Sheets are as follows (in thousands):


	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
August 26, 2023
Customer contracts	$	315,448	$	211,996	$	103,452
Software		80,538		45,117		35,421
Other intangible assets		43,598		36,853		6,745
	$	439,584	$	293,966	$	145,618
August 27, 2022
Customer contracts	$	247,721	$	198,668	$	49,053
Software		75,528		41,637		33,891
Other intangible assets		37,520		35,491		2,029
	$	360,769	$	275,796	$	84,973

Estimated amortization expense for the five fiscal years subsequent to August 26, 2023 and thereafter, based on intangible assets, net as of August 26, 2023 is as follows (in thousands):


2024	$	26,507
2025		24,578
2026		21,731
2027		15,106
2028		13,561
Thereafter		44,135
Total estimated amortization expense	$	145,618

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Aug. 26, 2023

Accounting Policies [Abstract]

Business Description

UniFirst Corporation (the “Company”) is one of the leading providers of workplace uniforms and protective clothing in the United States (“U.S.”). The Company designs, manufactures, personalizes, rents, cleans, delivers, and sells a wide range of uniforms and protective clothing, including shirts, pants, jackets, coveralls, lab coats, smocks, aprons and specialized protective wear, such as flame resistant and high visibility garments. The Company also rents and sells industrial wiping products, floor mats, facility service products and other non-garment items, and provides restroom and cleaning supplies and first aid cabinet services and other safety supplies as well as provide certain safety training, to a variety of manufacturers, retailers and service companies.

The Company serves businesses of all sizes in numerous industry categories. Typical customers include automobile service centers and dealers, delivery services, food and general merchandise retailers, manufacturers, maintenance facilities, restaurants and food-related businesses, business service companies, soft and durable goods wholesalers, transportation companies, energy producing operations, healthcare providers and others who require employee clothing on the job for image, identification, protection or utility purposes. The Company also provides its customers with restroom and cleaning supplies, including air fresheners, paper products, gloves, masks, hand soaps and sanitizers.

At certain specialized facilities, the Company decontaminates and cleans work clothes and other items that may have been exposed to radioactive materials and services special cleanroom protective wear. Typical customers for these specialized services include government agencies, research and development laboratories, high technology companies and utility providers operating nuclear reactors.

As discussed and described in Note 15, “Segment Reporting”, to these Consolidated Financial Statements, the Company has five reporting segments: U.S. and Canadian Rental and Cleaning, Manufacturing (“MFG”), Specialty Garments Rental and Cleaning (“Specialty Garments”), First Aid and Corporate. The operations of the U.S. and Canadian Rental and Cleaning reporting segment are referred to by the Company as its “industrial laundry operations” and the locations related to this reporting segment are referred to as “industrial laundries”. The Company refers to its U.S. and Canadian Rental and Cleaning, MFG, and Corporate segments combined as its “Core Laundry Operations”.

The COVID-19 pandemic had a significant adverse impact on the Company’s revenues in the first half of fiscal 2021. In these Consolidated Financial Statements and related disclosures, the Company has assessed the current impact of COVID-19 on its consolidated financial condition, results of operations, and cash flows, as well as the Company’s estimates and accounting policies. The Company has made additional disclosures of these assessments, as necessary.

Principles of Consolidation

The Consolidated Financial Statements include the accounts of the Company and its subsidiaries, all of which are wholly-owned. Intercompany balances and transactions are eliminated in consolidation.

Basis of Presentation

The Consolidated Financial Statements included herein have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). There have been no material changes in the accounting policies followed by the Company during the current fiscal year other than the adoption of recent accounting pronouncements as discussed in greater detail in the Recent Accounting Pronouncements sub-section of this Note.

Use of Estimates

The preparation of these Consolidated Financial Statements is in conformity with U.S. GAAP which requires management to make estimates and assumptions that affect the reported amounts in the financial statements and accompanying notes. The Company utilizes key estimates in preparing the financial statements including casualty and environmental estimates, valuation of intangible assets acquired in a business combination, recoverability of goodwill, intangibles, income taxes and

long-lived assets. These estimates are based on historical information, current trends, and information available from other sources. The Company’s results are affected by economic, political, legislative, regulatory and legal actions. Economic conditions, such as recessionary trends, inflation, interest and monetary exchange rates, government fiscal policies, government policies surrounding the containment of COVID-19 and changes in the prices of raw materials, can have a significant effect on operations. These factors and other events could cause actual results to differ from management's estimates.

Fiscal Year

The Company’s fiscal year ends on the last Saturday in August. For financial reporting purposes, fiscal years ended August 26, 2023 (“fiscal 2023”), August 27, 2022 (“fiscal 2022”) and August 28, 2021 (“fiscal 2021”) all consisted of 52 weeks.

Cash, Cash Equivalents and Short-Term Investments

Cash, cash equivalents and short-term investments include cash in banks, money market securities and bank short-term investments having original maturities of six months or less. As of August 26, 2023, the Company had $10.2 million in short-term investments. As of August 27, 2022, the Company had no short-term investments.

Accounts receivable

Accounts receivable represents amounts due from customers and is presented net of reserves for expected credit losses. The Company utilizes its judgment and estimates are used in determining the collectability of accounts receivable and evaluating the adequacy of the reserve for expected credit losses. The Company considers specific accounts receivable and historical credit loss experience, customer credit worthiness, current economic trends and the age of outstanding balances as part of its evaluation. When an account is considered uncollectible, it is written off against the reserve for expected credit losses.

Financial Instruments

The Company’s financial instruments, which may expose the Company to concentrations of credit risk, include cash and cash equivalents, receivables, accounts payable and foreign exchange forward contracts. Each of these financial instruments is recorded at cost, which approximates its fair value given the short maturity of each financial instrument.

Revenue Recognition

In fiscal 2023, approximately 88.5% of the Company’s revenues are derived from fees for route servicing of Core Laundry Operations, Specialty Garments and First Aid services performed by the Company’s employees at the customer’s location of business. Revenues from the Company’s route servicing customer contracts represent a single-performance obligation. The Company recognizes these revenues over time as services are performed based on the nature of services provided and contractual rates (input method). Certain of the Company’s customer contracts, primarily within the Company’s Core Laundry Operations, include pricing terms and conditions that include components of variable consideration. The variable consideration is typically in the form of consideration due to a customer based on performance metrics specified within the contract. Specifically, some contracts contain discounts or rebates that the customer can earn through the achievement of specified volume levels. Each component of variable consideration is earned based on the Company’s actual performance during the measurement period specified within the contract. To determine the transaction price, the Company estimates the variable consideration using the most likely amount method, based on the specific contract provisions and known performance results during the relevant measurement period. When determining if variable consideration should be constrained, the Company considers whether factors outside its control could result in a significant reversal of revenue. In making these assessments, the Company considers the likelihood and magnitude of a potential reversal. The Company’s performance period generally corresponds with the monthly invoice period. No significant constraints on the Company’s revenue recognition were applied during fiscal 2023. The Company reassesses these estimates during each reporting period. The Company maintains a liability for these discounts and rebates within accrued liabilities on the Consolidated Balance Sheets. Variable consideration also includes consideration paid to a customer at the beginning of a contract. The Company capitalizes this consideration and amortizes it over the life of the contract as a reduction to revenue in accordance with the accounting guidance for revenue recognition. These assets are included in other assets on the Consolidated Balance Sheets.

The following table presents the Company’s revenues for fiscal 2023, 2022, and 2021 disaggregated by service type:


	Years ended
	August 26, 2023					August 27, 2022					August 28, 2021
(In thousands, except percentages)	Revenues		% of Revenues			Revenues		% of Revenues			Revenues		% of Revenues
Core Laundry Operations	$	1,961,189		87.8	%	$	1,770,502		88.5	%	$	1,615,560		88.5	%
Specialty Garments		177,034		8.0	%		152,885		7.6	%		145,454		8.0	%
First Aid		94,824		4.2	%		77,435		3.9	%		65,202		3.5	%
Total Revenues	$	2,233,047		100.0	%	$	2,000,822		100.0	%	$	1,826,216		100.0	%

See Note 15, “Segment Reporting” for additional details of segment definitions.

During fiscal 2023, 2022 and 2021 the percentage of revenues recognized over time as the services are performed was 88.4%, 88.4% and 95.8% of Core Laundry Operations revenues, respectively, and 83.9%, 83.8% and 81.8% of Specialty Garments revenues, respectively. During fiscal 2023, 2022 and 2021, 11.6%, 11.6% and 4.2% of Core Laundry Operations revenues, respectively, 16.1%, 16.2% and 18.2% of Specialty Garments revenues, respectively, and 100% of First Aid revenues were recognized at a point in time, which generally occurs when the goods are transferred to the customer.

Costs to Obtain a Contract

The Company defers commission expenses paid to its employee-partners when the commissions are deemed to be incremental for obtaining the route servicing customer contract. The deferred commissions are amortized on a straight-line basis over the expected period of benefit. The Company reviews the deferred commission balances for impairment on an ongoing basis. Deferred commissions are classified as current or noncurrent based on the timing of when the Company expects to recognize the expense. The current portion is included in prepaid expenses and other current assets and the non-current portion is included in other assets on the Company’s Consolidated Balance Sheets. As of August 26, 2023, the current and non-current assets related to deferred commissions totaled $16.5 million and $70.4 million, respectively. As of August 27, 2022, the current and non-current assets related to deferred commissions totaled $15.2 million and $65.1 million, respectively. During fiscal 2023 and 2022, the Company recorded $16.5 million and $15.4 million, respectively, of amortization expense related to deferred commissions. This amortization expense is classified in selling and administrative expenses on the Consolidated Statements of Income.

Inventories and Rental Merchandise in Service

Inventories are stated at the lower of cost or net realizable value, net of any reserve for excess and obsolete inventory. Work-in-process and finished goods inventories consist of materials, labor and manufacturing overhead. Judgments and estimates are used in determining the likelihood that new goods on hand can be sold to customers or used in rental operations. Historical inventory usage and current revenue trends are considered in estimating both excess and obsolete inventories. If actual product demand and market conditions are less favorable than those projected by management, additional inventory write-downs may be required. The Company uses the first-in, first-out (“FIFO”) method to value its inventories.

The components of inventory as of August 26, 2023 and August 27, 2022 were as follows (in thousands):


	August 26, 2023		August 27, 2022
Raw materials	$	25,147	$	25,932
Work in process		4,444		2,876
Finished goods		118,743		122,651
Total inventory	$	148,334	$	151,459

Rental merchandise in service is amortized, primarily on a straight-line basis, over the estimated service lives of the merchandise, which range from six to thirty-six months. The amortization expense is included in the cost of revenues on the Company’s Consolidated Statements of Income. In establishing estimated lives for merchandise in service, management considers historical experience and the intended use of the merchandise. Material differences may result in the amount and timing of operating profit for any period if management makes significant changes to these estimates.

Property, Plant and Equipment

Property, plant and equipment are recorded at cost. Expenditures for maintenance and repairs are expensed as incurred, while expenditures for renewals and betterments are capitalized.

The components of property, plant and equipment as of August 26, 2023 and August 27, 2022 were as follows (in thousands):


	August 26, 2023		August 27, 2022
Land, buildings and leasehold equipment	$	744,085	$	663,089
Machinery and equipment		676,490		622,168
Motor vehicles		331,537		308,242
		1,752,112		1,593,499
Less: accumulated depreciation		995,572		928,380
Total property, plant and equipment	$	756,540	$	665,119

The Company provides for depreciation on the straight-line method based on the date the asset is placed in service using the following estimated useful lives:


Buildings (in years)		30 — 40
Building components (in years)		10 — 20
Leasehold improvements		Shorter of useful life or term of lease
Machinery and equipment (in years)		3 — 10
Motor vehicles (in years)		3 — 5

Long-lived assets, including property, plant and equipment, are evaluated for impairment whenever events or circumstances indicate an asset may be impaired. There were no material impairments of long-lived assets in fiscal 2023, 2022 and 2021.

Goodwill and Other Intangible Assets

In accordance with U.S. GAAP, the Company does not amortize goodwill. Instead, the Company tests goodwill for impairment on an annual basis. Management completes its annual goodwill impairment test on the first day of the fourth quarter of each fiscal year. In addition, U.S. GAAP requires that companies test goodwill if events occur or circumstances change that would more likely than not reduce the fair value of a reporting unit to which goodwill is assigned below its carrying amount. The Company used the qualitative assessment option for its impairment testing for goodwill in fiscal 2023 and determined that the fair values of the reporting units more likely than not exceeded their carrying values and that there was no evidence of impairment as of May 28, 2023.

The Company cannot predict future economic conditions and their impact on the Company or the future net realizable value of the Company’s stock. A decline in the Company’s market capitalization and/or deterioration in general economic conditions could negatively and materially impact the Company’s assumptions and assessment of the fair value of the Company’s business. If general economic conditions or the Company’s financial performance deteriorate, the Company may be required to record a goodwill impairment charge in the future which could have a material impact on the Company’s financial condition and results of operations.

Definite-lived intangible assets are amortized over their estimated useful lives, which are based on management’s estimates of the period that the assets will generate economic benefits. Definite-lived intangible assets are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable in accordance with U.S. GAAP. There were no impairments of goodwill or indicators of impairment for definite-lived intangible assets in fiscal 2023, 2022 or 2021.

As of August 26, 2023, definite-lived intangible assets have a weighted average useful life of approximately 12.9 years. Customer contracts have a weighted average useful life of approximately 14.5 years and other intangible assets, net, which consist of primarily of restrictive covenants, software and trademarks, have a weighted average useful life of approximately 8.2 years.

Environmental and Other Contingencies

The Company is subject to legal proceedings and claims arising from the conduct of its business operations, including environmental matters, personal injury, customer contract matters and employment claims. U.S. GAAP require that a liability for contingencies be recorded when it is probable that a liability has occurred and the amount of the liability can be reasonably estimated. Significant judgment is required to determine the existence of a liability, as well as the amount to be recorded. The Company regularly consults with attorneys and outside consultants in its consideration of the relevant facts and circumstances before recording a contingent liability. The Company records accruals for environmental and other contingencies based on enacted laws, regulatory orders or decrees, the Company’s estimates of costs, insurance proceeds, participation by other parties, the timing of payments, and the input of outside consultants and attorneys.

The estimated liability for environmental contingencies has been discounted as of August 26, 2023 using risk-free interest rates ranging from 4.3% to 4.7% over periods ranging from three to thirty years. The estimated current costs, net of legal settlements with insurance carriers, have been adjusted for the estimated impact of inflation at 3% per year. Changes in enacted laws, regulatory orders or decrees, management’s estimates of costs, risk-free interest rates, insurance proceeds, participation by other parties, the timing of payments, the input of the Company’s attorneys and outside consultants or other factual circumstances could have a material impact on the amounts recorded for environmental and other contingent liabilities. Refer to Note 11, “Commitments and Contingencies”, of these Consolidated Financial Statements for additional discussion and analysis.

Asset Retirement Obligations

Under U.S. GAAP, asset retirement obligations generally apply to legal obligations associated with the retirement of long-lived assets that result from the acquisition, construction, development and/or the normal operation of a long-lived asset. The Company recognizes asset retirement obligations in the period in which they are incurred if a reasonable estimate of fair value can be made. The associated asset retirement costs are capitalized as part of the carrying amount of the long-lived asset.

The Company has recognized as a liability the present value of the estimated future costs to decommission its nuclear laundry facilities. The Company depreciates, on a straight-line basis, the amount added to property, plant and equipment and recognizes accretion expense in connection with the discounted liability over the various remaining lives which range from approximately one to twenty-one years.

The estimated liability has been based on historical experience in decommissioning nuclear laundry facilities, estimated useful lives of the underlying assets, external vendor estimates as to the cost to decommission these assets in the future, and federal and state regulatory requirements. The estimated current costs have been adjusted for the estimated impact of inflation at 3% per year. The liability has been discounted using credit-adjusted risk-free rates that range from approximately 7.0% to 7.5%. Revisions to the liability could occur due to changes in the Company’s estimated useful lives of the underlying assets, estimated dates of decommissioning, changes in decommissioning costs, changes in federal or state regulatory guidance on the decommissioning of such facilities, or other changes in estimates. Changes due to revised estimates are recognized by adjusting the carrying amount of the liability and the related long-lived asset if the assets are still in service, or charged to expense in the period if the assets are no longer in service.

Insurance

The Company is self-insured for certain obligations related to health and dental, workers’ compensation, vehicles and general liability programs. The Company also purchases stop-loss insurance policies for workers’ compensation, vehicles and general liability programs to protect itself from catastrophic losses. Judgments and estimates are used in determining the potential value associated with reported claims and for events that have occurred, but have not been reported. The Company’s estimates consider historical claims experience and other factors. In certain cases where partial insurance coverage exists, the Company estimates the portion of the liability that will be covered by existing insurance policies to arrive at its net expected liability. Receivables for insurance recoveries are recorded as assets, on an undiscounted basis. The Company’s liabilities are based on estimates, and, while the Company believes that its accruals are adequate, the ultimate liability may be significantly different from the amounts recorded. Changes in claims experience, the Company’s ability to settle claims or other estimates and judgments used by management could have a material impact on the amount and timing of expense for any period.

Supplemental Executive Retirement Plan and Other Pension Plans

Supplemental Executive Retirement Plan and other Pension Plans

Pension expense is recognized on an accrual basis over employees’ estimated service periods. Pension expense is generally independent of funding decisions or requirements.

The Company (1) recognizes in its statement of financial position the over-funded or under-funded status of its defined benefit postretirement plans measured as the difference between the fair value of plan assets and the benefit obligation, (2) recognizes as a component of other comprehensive (loss) income, net of tax, the actuarial gains and losses and the prior service costs and credits that arise during the period but are not recognized as components of net periodic benefit cost, (3) measures defined benefit plan assets and defined benefit plan obligations as of the date of its statement of financial position, and (4) discloses additional information in the notes to financial statements about certain effects on net periodic benefit cost in the upcoming fiscal year that arise from delayed recognition of the actuarial gains and losses and the prior service costs and credits. Refer to Note 7, “Employee Benefit Plans”, of these Consolidated Financial Statements for further discussion regarding the Company’s pension plans.

The calculation of pension expense and the corresponding liability requires the use of a number of critical assumptions, including the expected long-term rates of return on plan assets, the assumed discount rates, assumed rate of compensation increases and life expectancy of participants. Changes in these assumptions can result in different expense and liability amounts, and future actual experience can differ from these assumptions. Pension expense increases as the expected rate of return on pension plan assets decreases. Future changes in plan asset returns, assumed discount rates and various other factors related to the participants in the Company’s pension plans will impact the Company’s future pension expense and liabilities. The Company cannot predict with certainty what these factors will be in the future.

Nonqualified Deferred Compensation Plan

The Company adopted the UniFirst Corporation Deferred Compensation Plan (the “NQDC Plan”) effective on February 1, 2022. The NQDC Plan is an unfunded, nonqualified deferred compensation plan that allows eligible participants to voluntarily defer receipt of their salary and annual cash bonuses up to approved limits. In its discretion, the Company may credit one or more additional contributions to participant accounts. NQDC Plan participants who are not accruing benefits under the Supplemental Executive Retirement Plan are eligible to have discretionary annual employer contributions credited to their NQDC Plan accounts. All participants are also eligible to have employer supplemental contributions and employer discretionary contributions credited to their NQDC Plan accounts. The amounts of such contributions may differ from year to year and from participant to participant. Refer to Note 7, “Employee Benefit Plans”, of these Consolidated Financial Statements for further discussion regarding the Company’s NQDC Plan

Income Taxes

The Company computes income tax expense by jurisdiction based on its operations in each jurisdiction. Deferred income taxes are provided for temporary differences between the amounts recognized for income tax and financial reporting purposes at currently enacted tax rates. Deferred tax assets and liabilities are determined by the differences between the consolidated financial statement carrying amounts and the tax basis of assets and liabilities. See Note 4, “Income Taxes” in these Consolidated Financial Statements for the types of items that give rise to significant deferred income tax assets and liabilities. Deferred income taxes are classified as assets or liabilities based on the classification of the related asset or liability for financial reporting purposes. The Company regularly reviews deferred tax assets for recoverability based upon projected future taxable income and the expected timing of the reversals of existing temporary differences. Although realization is not assured, management believes it is more likely than not that the recorded deferred tax assets will be realized.

The Company is periodically reviewed by U.S. domestic and foreign tax authorities regarding the amount of taxes due. These reviews typically include inquiries regarding the timing and amount of deductions and the allocation of income among various tax jurisdictions. In evaluating the exposure associated with various filing positions, the Company records estimated reserves. Refer to Note 4, “Income Taxes”, of these Consolidated Financial Statements for further discussion regarding the Company’s accounting for income taxes and its uncertain tax positions for financial accounting purposes.

Advertising Costs

Advertising costs are expensed as incurred and are classified as selling and administrative expenses. The Company incurred advertising costs of $9.9 million, $14.7 million and $3.5 million, for fiscal 2023, 2022 and 2021, respectively.

Share-Based Compensation

Compensation expense for all stock options, stock appreciation rights, unrestricted stock and restricted stock units (collectively, “Share-Based Awards”) is recognized ratably over the related vesting period, net of actual forfeitures. Certain Share-Based Awards in the form of stock appreciation rights and shares of unrestricted stock were granted during fiscal 2023, 2022 and 2021 to non-employee Directors of the Company, which were fully vested upon grant and, with respect to stock appreciation rights, expire eight years after the grant date. Accordingly, compensation expense related to these Share-Based Awards in fiscal 2023, 2022 and 2021 was recognized on the date of grant.

For performance-based restricted stock unit awards with revenue and profitability performance criteria, we evaluate the probability of meeting the performance criteria at each balance sheet date and, if probable, related compensation cost is amortized over the performance period on a straight-line basis because such awards vest only at the end of the measurement period. Changes to the probability assessment and the estimate of shares expected to vest will result in adjustments to the related share-based compensation expense that will be recorded in the period of the change. If the performance targets are not achieved, no compensation cost is recognized and any previously recognized compensation cost is reversed.

U.S. GAAP requires that share-based compensation cost be measured at the grant date based on the fair value of the award and be recognized as expense over the requisite service period, which is generally the vesting period. Determining the fair value of Share-Based Awards in the form of stock appreciation rights at the grant date requires judgment, including estimating expected dividends and share price volatility. The fair value of each Share-Based Award in the form of stock appreciation rights is estimated on the date of grant using the Black-Scholes option pricing model.

The Company recognizes compensation expense for restricted stock and restricted stock unit grants over the related vesting period. The fair value for each restricted stock, unrestricted stock and restricted stock unit grant is determined by using the closing price of the Company’s stock on the date of the grant. Refer to Note 12, “Share-Based Compensation”, of these Consolidated Financial Statements for further discussion regarding the Company’s share-based compensation plans.

Income Per Share

The Company calculates income per share by allocating income to its unvested participating securities as part of its income per share calculations. The following table sets forth the computation of basic income per share using the two-class method for amounts attributable to the Company’s shares of Common Stock and Class B Common Stock (in thousands, except per share data):


Year ended	August 26, 2023		August 27, 2022		August 28, 2021
Net income available to shareholders	$	103,674	$	103,404	$	151,111
Allocation of net income for Basic:
Common Stock	$	87,104	$	86,844	$	126,848
Class B Common Stock		16,570		16,560		24,263
	$	103,674	$	103,404	$	151,111
Weighted average number of shares for Basic:
Common Stock		15,098		15,203		15,237
Class B Common Stock		3,590		3,621		3,643
		18,688		18,824		18,880
Income per share for Basic:
Common Stock	$	5.77	$	5.71	$	8.32
Class B Common Stock	$	4.62	$	4.57	$	6.66

The Class B Common Stock may be converted at any time on a one-for-one basis into Common Stock at the option of the holder of the Class B Common Stock. Diluted income per share for the Company’s Common Stock assumes the conversion of all of the Company’s Class B Common Stock into Common Stock, full vesting of outstanding restricted stock, and the exercise of Share-Based Awards under the Company’s stock incentive plans.

The Company is required to calculate the diluted income per share for Common Stock using the more dilutive of the following two methods:

•

The treasury stock method; or

•

The two-class method assuming a participating security is not exercised or converted.

For fiscal 2023, 2022 and 2021, the Company’s diluted income per share assumes the conversion of all Class B Common Stock into Common Stock and uses the two-class method for its unvested participating shares. The following table sets forth the computation of diluted income per share of Common Stock for the years ended August 26, 2023, August 27, 2022 and August 28, 2021 (in thousands, except per share data):


	Year Ended August 26, 2023						Year Ended August 27, 2022						Year Ended August 28, 2021
	Earnings to Common shareholders		Common Shares		Income Per Share		Earnings to Common shareholders		Common Shares		Income Per Share		Earnings to Common shareholders		Common Shares		Income Per Share
As reported—Basic	$	87,104		15,098	$	5.77	$	86,844		15,203	$	5.71	$	126,848		15,237	$	8.32
Add: effect of dilutive potential common shares
Share-Based Awards		—		74				—		109				—		158
Class B Common Stock		16,570		3,590				16,560		3,621				24,263		3,643
Diluted Income Per Share— Common Stock	$	103,674		18,762	$	5.53	$	103,404		18,933	$	5.46	$	151,111		19,038	$	7.94

Share-Based Awards that would result in the issuance of 51,708, 34,416 and 6,005 shares, respectively, of Common Stock were excluded from the calculation of diluted earnings per share for fiscal 2023, 2022 and 2021 because they were anti-dilutive.

Foreign Currency Translation

The functional currency of our foreign operations is the local country’s currency. Transaction gains and losses, including gains and losses on our intercompany transactions, are included in other expense, net in the accompanying Consolidated Statements of Income. Assets and liabilities of operations outside the U.S. are translated into U.S. dollars using period-end exchange rates. Revenues and expenses are translated at the average exchange rates in effect during each month of the fiscal year. The effects of foreign currency translation adjustments are included in shareholders’ equity as a component of accumulated other comprehensive loss in the accompanying Consolidated Balance Sheets.

Recent Accounting Pronouncements

In October 2021, the Financial Accounting Standards Board (“FASB”) issued updated guidance to improve the accounting for acquired revenue contracts with customers in a business combination. This guidance will be effective for annual reporting periods, and any interim periods within those annual periods, that begin after December 15, 2023 and will be required to be applied on a prospective basis with early adoption permitted. Accordingly, the standard will be effective for the Company on September 1, 2024. The Company is currently evaluating the impact that this guidance will have on its financial statements and related disclosures.

In November 2021, the FASB issued updated guidance to increase the transparency of government assistance, including the disclosure of the types of assistance, an entity’s accounting for the assistance and the effect of the assistance on an entity’s financial statements. This guidance is effective for annual reporting periods that begin after December 15, 2021 and is required to be applied on a prospective basis with early adoption permitted. Accordingly, the standard became effective for the Company on August 28, 2022. The Company's adoption of this standard has not had, and the Company does not expect this standard to have, a material impact on its financial statements.

In December 2022, the FASB issued updated guidance to align with the deferral of the cessation date for LIBOR by the United Kingdom's Financial Conduct Authority (“FCA”). The FASB is changing the sunset date for use of LIBOR by all entities from December 31, 2022 to December 31, 2024 to allow for time for modifications to occur after the FCA's cessation date of June 30, 2023 for using LIBOR for overnight through twelve-month tenors. The Company's Credit Agreement (defined below) includes a provision for the phasing out of LIBOR and the Company has elected to transition out of using LIBOR to the Secured Overnight Financing Rate (“SOFR”) based on the amendment to the Credit Agreement as described in this report in Note 14, “Long-Term Debt”. The Company's adoption of this standard did not have a material impact on its financial statements.

Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the SEC did not or are not believed by management to have a material impact on the Company’s present or future financial statements.

Income Taxes - Provision / (Benefit) for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 26, 2023	Aug. 27, 2022	Aug. 28, 2021
Current:
Federal	$ 7,269	$ 7,655	$ 35,267
Foreign	2,519	1,839	1,714
State	2,695	3,701	9,873
Total current	12,483	13,195	46,854
Deferred:
Federal	19,227	13,883	(1,421)
Foreign	568	180	848
State	2,885	3,663	(521)
Total deferred	22,680	17,726	(1,094)
Total	$ 35,163	$ 30,921	$ 45,760

Fair Value Measurements

12 Months Ended

Aug. 26, 2023

Fair Value Disclosures [Abstract]

Fair Value Measurements

3. Fair Value Measurements

U.S. GAAP establishes a framework for measuring fair value and establishes disclosure requirements about fair value measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company considered non-performance risk when determining fair value of our derivative financial instruments.

The fair value hierarchy prescribed under U.S. GAAP contains three levels as follows:

Level 1 - Quoted prices in active markets for identical assets or liabilities.

Level 2 - Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.

Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs.

All financial assets or liabilities that are measured at fair value on a recurring basis (at least annually) have been segregated into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date. The assets or liabilities measured at fair value on a recurring basis are summarized in the tables below (in thousands):


	As of August 26, 2023
	Level 1		Level 2		Level 3		Fair Value
Assets:
Short-term investments	$	—	$	10,157	$	—	$	10,157
Pension plan assets		—		2,978		—		2,978
Non-qualified deferred compensation plan assets		—		2,024		—		2,024
Foreign currency forward contracts		—		216		—		216
Total assets at fair value	$	—	$	15,375	$	—	$	15,375
Liabilities:
Non-qualified deferred compensation plan liability	$	—	$	480	$	—	$	480
Total liabilities at fair value	$	—	$	480	$	—	$	480


	As of August 27, 2022
	Level 1		Level 2		Level 3		Fair Value
Assets:
Cash equivalents	$	197,121	$	—	$	—	$	197,121
Pension plan assets		—		3,291		—		3,291
Non-qualified deferred compensation plan assets		—		1,263		—		1,263
Foreign currency forward contracts		—		83		—		83
Total assets at fair value	$	197,121	$	4,637	$	—	$	201,758
Liabilities:
Non-qualified deferred compensation plan liability	$	—	$	37	$	—	$	37
Total liabilities at fair value	$	—	$	37	$	—	$	37

The Company’s cash equivalents listed above represent money market securities and are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices. The Company does not adjust the quoted market price for such financial instruments.

The Company's short-term investments listed above represent certificates of deposit, which maturities range up to six months at purchase. Such securities are classified as held-to-maturity and are carried at amortized cost, which approximates market value. As such, the Company's short-term investments are included within Level 2 of the fair value hierarchy.

The Company’s pension plan assets listed above represent guaranteed deposit accounts that are maintained and operated by a third-party investment manager. At the beginning of each calendar year, the third-party investment manager notifies the Company of the annual rates of interest which will be applied to the amounts held in the guaranteed deposit account during the next calendar year. In determining the interest rate to be applied, the third-party investment manager considers the investment performance of the underlying assets of the prior year; however, regardless of the investment performance the annual interest rate applied per the contract must be a minimum of 3.25%. As such, the Company’s pension plan assets are included within Level 2 of the fair value hierarchy. Refer to Note 7, “Employee Benefit Plans”, of these Consolidated Financial Statements for further discussion regarding the Company’s pension plan and Supplemental Executive Retirement Plan.

The Company’s foreign currency forward contracts represent contracts the Company has entered into to exchange Canadian dollars for U.S. dollars at fixed exchange rates in order to manage its exposure related to certain forecasted Canadian dollar denominated sales of one of its subsidiaries. These contracts are included in prepaid expenses and other current assets and other long-term assets as of August 26, 2023 and August 27, 2022. The fair value of the forward contracts is based on similar exchange traded derivatives and are, therefore, included within Level 2 of the fair value hierarchy.

Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands

12 Months Ended

Aug. 26, 2023

Aug. 27, 2022

Aug. 28, 2021

Revenues

$ 2,233,047

$ 2,000,822

$ 1,826,216

Operating expenses:

Cost of revenues

^[1]

1,481,296

1,306,451

1,141,275

Selling and administrative expenses

^[1]

496,915

451,243

383,161

Depreciation and amortization

^[2]

121,233

108,777

105,955

Total operating expenses

2,099,444

1,866,471

1,630,391

Operating income

133,603

134,351

195,825

Other (income) expense:

Interest income, net

(6,738)

(2,851)

(2,568)

Other expense, net

1,504

2,877

1,522

Total other (income) expense, net

(5,234)

(1,046)

Income before income taxes

138,837

134,325

196,871

Provision for income taxes

35,163

30,921

45,760

Net income

$ 103,674

$ 103,404

$ 151,111

Income per share—Diluted:

Common stock (in dollars per share)

$ 5.53

$ 5.46

$ 7.94

Income allocated to—Basic:

Common stock

$ 103,674

$ 103,404

$ 151,111

Income allocated to—Diluted:

Common Stock

$ 103,674

$ 103,404

$ 151,111

Weighted average number of shares outstanding—Basic:

Common stock (in shares)

18,688

18,824

18,880

Weighted average number of shares outstanding—Diluted:

Common stock (in shares)

18,762

18,933

19,038

Common Stock

Income per share—Basic:

Common stock (in dollars per share)

$ 5.77

$ 5.71

$ 8.32

Income allocated to—Basic:

Common stock

$ 87,104

$ 86,844

$ 126,848

Weighted average number of shares outstanding—Basic:

Common stock (in shares)

15,098

15,203

15,237

Class B Common Stock

Income per share—Basic:

Common stock (in dollars per share)

$ 4.62

$ 4.57

$ 6.66

Income allocated to—Basic:

Common stock

$ 16,570

$ 16,560

$ 24,263

Weighted average number of shares outstanding—Basic:

Common stock (in shares)

3,590

3,621

3,643

[1]	Exclusive of depreciation on the Company’s property, plant and equipment and amortization of its intangible assets.
[2]	Depreciation and amortization for the full year of fiscal 2023 and 2022 included approximately $14.7 million and $10.9 million, respectively, of non-cash amortization expense recognized on acquisition-related intangible assets.

Shareholders' Equity

12 Months Ended

Aug. 26, 2023

Equity [Abstract]

Shareholders' Equity

13. Shareholders’ Equity

The Company has two classes of common stock: Common Stock and Class B Common Stock. Each share of Common Stock is entitled to one vote, is freely transferable, and is entitled to a cash dividend equal to 125% of any cash dividend paid on each share of Class B Common Stock. Each share of Class B Common Stock is entitled to ten votes and can be converted to Common Stock on a share-for-share basis. However, until converted to Common Stock, shares of Class B Common Stock are not freely transferable. During fiscal 2022, 17,000 shares of Class B Common Stock were converted to Common Stock. No such conversions occurred during each of fiscal 2023 and 2021.

On October 25, 2022, the Company raised its quarterly dividend to $0.31 per share for Common Stock and to $0.248 per share for Class B Common Stock, up from $0.30 and $0.24 per share, respectively.

On October 24, 2023, the Company announced that it would be raising its quarterly dividend to $0.33 per share of Common Stock and to $0.264 per share of Class B Common Stock, up from $0.31 and $0.248 per share, respectively. The amount and timing of any dividend payment is subject to the approval of the Board of Directors each quarter.

On October 24, 2023, the Company’s Board of Directors authorized a new share repurchase program to repurchase from time to time up to $100.0 million of its outstanding shares of Common Stock, inclusive of the amount which remained available under the existing share repurchase program approved on October 18, 2021. Repurchases made under the new program, if any, will be made in either the open market or in privately negotiated transactions. The timing, manner, price and amount of any repurchases will depend on a variety of factors, including economic and market conditions, the Company stock price, corporate liquidity requirements and priorities, applicable legal requirements and other factors. The share repurchase program has been funded to date with the Company’s available cash and will be funded in the future using the Company’s available cash or capacity under its Credit Agreement and may be suspended or discontinued at any time.

During fiscal 2023, the Company did not repurchase any shares. During fiscal 2022, the Company repurchased 213,419 shares for an average price per share of $179.98. During fiscal 2021, the Company repurchased 60,950 shares for an average price per share of $184.13. As of August 26, 2023, there was $63.6 million remaining to repurchase outstanding shares of Common Stock under the existing program.

On July 15, 2022, the Company repurchased 35,714 shares of Class B Common Stock for $6.0 million from a related party at a per share price of $168.00.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

+ Details

Accrued Liabilities (Tables)

12 Months Ended

Aug. 26, 2023

Payables and Accruals [Abstract]

Schedule of Accrued Liabilities

Accrued liabilities in the accompanying Consolidated Balance Sheet consists of the following (in thousands):


	August 26, 2023		August 27, 2022
Current liabilities:
Payroll and benefit related	$	41,015	$	48,415
Bonuses		19,893		15,476
Insurance related		34,343		32,410
Environmental related		13,835		12,254
Other		47,322		38,253
Total current liabilities	$	156,408	$	146,808

Long-term liabilities:
Benefit related		24,174	$	26,779
Environmental related		16,194		19,937
Asset retirement obligations		16,471		15,274
Insurance related		64,843		61,989
Total long-term liabilities	$	121,682	$	123,979
Total accrued liabilities	$	278,090	$	270,787

Commitments and Contingencies - Schedule of Contractual Future Minimum Lease Payments of Operating Lease Liabilities (Details) $ in Thousands	Aug. 26, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2024	$ 19,629
2025	16,078
2026	12,956
2027	9,747
2028	6,416
Thereafter	6,618
Total payments	71,444
Less interest	6,685
Total present value of lease payments	$ 64,759

Accumulated Other Comprehensive Loss - Components of Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Thousands

12 Months Ended

Aug. 26, 2023

Aug. 27, 2022

Aug. 28, 2021

AOCI Attributable to Parent, Net of Tax [Roll Forward]

Balance at beginning of period

$ 1,915,871

$ 1,872,952

$ 1,741,129

Change during the year

529

546

7,134

Balance at end of period

2,003,960

1,915,871

1,872,952

Foreign Currency Translation

AOCI Attributable to Parent, Net of Tax [Roll Forward]

Balance at beginning of period

(24,803)

(17,801)

Change during the year

(1,701)

(7,002)

Balance at end of period

(26,504)

(24,803)

(17,801)

Balance at beginning of period

^[1]

452

(7,066)

Change during the year

^[1]

2,130

7,518

Balance at end of period

^[1]

2,582

452

(7,066)

Derivative Financial Instruments

AOCI Attributable to Parent, Net of Tax [Roll Forward]

Balance at beginning of period

^[1]

Change during the year

^[1]

100

Balance at end of period

^[1]

161

Accumulated Other Comprehensive Loss

AOCI Attributable to Parent, Net of Tax [Roll Forward]

Balance at beginning of period

(24,290)

(24,836)

(31,970)

Change during the year

529

546

Balance at end of period

$ (23,761)

$ (24,290)

$ (24,836)

[1]	Amounts are shown net of tax.

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481372/852-10-55-10

Reference 2: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

Commitments and Contingencies (Tables)

12 Months Ended

Aug. 26, 2023

Commitments and Contingencies Disclosure [Abstract]

Schedule of Operating Lease Cost and Information Related to Operating Lease Right-of-use Assets, Net and Operating Lease Liabilities

The following table presents the operating lease cost and information related to the operating lease right-of-use assets, net and operating lease liabilities for fiscal 2023, 2022 and 2021:


(In thousands, except lease term and discount rate)	2023			2022			2021
Lease cost:
Operating lease costs including short-term lease expense and variable lease costs, which were immaterial in the period	$	22,303		$	20,284		$	19,329

Operating cash flow impacts:
Cash paid for amounts included in the measurement of operating lease liabilities	$	16,710		$	15,123		$	13,629
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities	$	23,076		$	21,391		$	13,592
Operating lease right-of-use assets acquired in business combination	$	4,167		$	—		$	—
Weighted-average remaining lease term - operating leases	4.48			4.66			4.09
Weighted-average discount rate - operating leases		3.55	%		2.24	%		2.28	%

Schedule of Contractual Future Minimum Lease Payments of Operating Lease Liabilities

The contractual future minimum lease payments of the Company's operating lease liabilities by fiscal year as of August 26, 2023 are as follows (in thousands):


2024	$	19,629
2025		16,078
2026		12,956
2027		9,747
2028		6,416
Thereafter		6,618
Total payments		71,444
Less interest		6,685
Total present value of lease payments	$	64,759

Schedule of Changes to Environmental Liabilities

The changes to the Company’s environmental liabilities for fiscal 2023 and 2022 were as follows (in thousands):


Year ended	August 26, 2023			August 27, 2022
Beginning balance	$	32,191		$	32,859
Costs incurred for which reserves have been provided		(1,936	)		(2,188	)
Insurance proceeds		147			135
Interest accretion		1,036			596
Changes in discount rates		(2,446	)		(3,235	)
Revisions in estimates		1,037			4,024
Ending balance	$	30,029		$	32,191

Schedule of Anticipated Payments and Insurance Proceeds of Currently Identified Environmental Remediation Liabilities

Anticipated payments and insurance proceeds of currently identified environmental remediation liabilities as of August 26, 2023, for the next five fiscal years and thereafter, as measured in current dollars, are reflected below (in thousands):


Fiscal year ended August	2024			2025			2026			2027			2028			Thereafter			Total
Estimated costs—current dollars	$	14,049		$	2,651		$	1,442		$	1,270		$	972		$	14,617		$	35,001
Estimated insurance proceeds		(180	)		(195	)		(159	)		(173	)		(9	)		(230	)		(946	)
Net anticipated costs	$	13,869		$	2,456		$	1,283		$	1,097		$	963		$	14,387		$	34,055
Effect of inflation																				9,227
Effect of discounting																				(13,253	)
Balance as of August 26, 2023																			$	30,029

Share-based Compensation - Summary of Share-Based Award Activity for Stock Options and Stock Appreciation Rights (Details)	12 Months Ended
	Aug. 26, 2023 $ / shares shares
Number of Shares
Outstanding at beginning of period (in shares) \| shares	368,348
Granted \| shares	30,679
Expired \| shares	(770)
Exercised \| shares	(49,471)
Forfeited \| shares	(1,169)
Outstanding at end of period (in shares) \| shares	347,617
Exercisable at end of period (in shares) \| shares	258,173
Weighted Average Exercise Price
Outstanding at beginning of period (in dollars per share) \| $ / shares	$ 151.93
Granted \| $ / shares	186.28
Expired \| $ / shares	175.86
Exercised \| $ / shares	126.69
Forfeited \| $ / shares	159.83
Outstanding at end of period (in dollars per share) \| $ / shares	158.47
Exercisable at end of period (in dollars per share) \| $ / shares	$ 150.86

Summary of Significant Accounting Policies - Narrative (Details)	12 Months Ended
	Aug. 26, 2023 USD ($) Segment shares	Aug. 27, 2022 USD ($) shares	Aug. 28, 2021 USD ($) shares
Summary of Significant Accounting Policies [Line Items]
Number of reporting segments \| Segment	5
Short-term investments	$ 10,157,000	$ 0
Percentage of revenues derived from route servicing fees	88.50%
Current assets related to deferred commissions	$ 16,500,000	15,200,000
Noncurrent assets related to deferred commissions	70,400,000	65,100,000
Amortization expense related to deferred commissions	$ 16,500,000	15,400,000
Estimated service lives of rental merchandise, minimum	6 months
Estimated service lives of rental merchandise, maximum	36 months
Impairment of goodwill and definite-lived intangible assets	$ 0	0	$ 0
Weighted average useful life	12 years 10 months 24 days
Discount rate, lower range	4.30%
Discount range, upper range	4.70%
Inflation rate	3.00%
Advertising costs	$ 9,900,000	$ 14,700,000	$ 3,500,000
Anti-dilutive securities excluded from calculation of diluted earnings per share (in shares) \| shares	51,708	34,416	6,005
Conversion of Class B Common Stock in to Common Stock
Summary of Significant Accounting Policies [Line Items]
Conversion ratio	1
Stock Appreciation Rights (SARs)
Summary of Significant Accounting Policies [Line Items]
Expiration period	10 years
Stock Appreciation Rights (SARs) \| Certain Share-based Awards Granted During Fiscal 2020, 2019 and 2018 to Non-employee Directors \| Non-Employee Directors
Summary of Significant Accounting Policies [Line Items]
Expiration period	8 years
Minimum
Summary of Significant Accounting Policies [Line Items]
Discount period, lower range	10 years
Remaining lives	1 year
Credit adjusted risk-free rate	7.00%
Maximum
Summary of Significant Accounting Policies [Line Items]
Discount period, upper range	30 years
Remaining lives	21 years
Credit adjusted risk-free rate	7.50%
Customer Contracts
Summary of Significant Accounting Policies [Line Items]
Weighted average useful life	14 years 6 months
Other Intangible Assets
Summary of Significant Accounting Policies [Line Items]
Weighted average useful life	8 years 2 months 12 days
Core Laundry Operations
Summary of Significant Accounting Policies [Line Items]
Percentage of revenues recognized over time	88.40%	88.40%	95.80%
Percentage of revenues recognized at a point in time	11.60%	11.60%	4.20%
Specialty Garments
Summary of Significant Accounting Policies [Line Items]
Percentage of revenues recognized over time	83.90%	83.80%	81.80%
Percentage of revenues recognized at a point in time	16.10%	16.20%	18.20%
First Aid
Summary of Significant Accounting Policies [Line Items]
Percentage of revenues recognized at a point in time	100.00%

Insider Trading Arrangements	12 Months Ended
Insider Trading Arrangements	Aug. 26, 2023 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On August 8, 2023, David A. DiFillippo, Executive Vice President, Operations of the Company, in his capacity as trustee of a family trust, adopted a trading arrangement for the sale of the Company’s Common Stock (the “Rule 10b5-1 Trading Plan”) held by such trust that is intended to satisfy the affirmative defense conditions of Securities Exchange Act Rule 10b5-1(c). The Rule 10b5-1 Trading Plan, which has a term expiring on November 30, 2023, provides for the sale of up to 6,280 shares of Common Stock pursuant to the terms of the plan.
Name	David A. DiFillippo
Title	Executive Vice President
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 8, 2023
Aggregate Available	6,280

Income Taxes

12 Months Ended

Aug. 26, 2023

Income Tax Disclosure [Abstract]

Income Taxes

4. Income Taxes

The provision for income taxes consists of the following (in thousands):


Year ended	2023		2022		2021
Current:
Federal	$	7,269	$	7,655	$	35,267
Foreign		2,519		1,839		1,714
State		2,695		3,701		9,873
Total current	$	12,483	$	13,195	$	46,854
Deferred:
Federal	$	19,227	$	13,883	$	(1,421	)
Foreign		568		180		848
State		2,885		3,663		(521	)
Total deferred	$	22,680	$	17,726	$	(1,094	)
Total	$	35,163	$	30,921	$	45,760

The following table reconciles the provision for income taxes using the statutory federal income tax rate to the actual provision for income taxes:


Year ended	2023			2022			2021
Income taxes at the statutory federal income tax rate		21.0	%		21.0	%		21.0	%
State income taxes		3.8			4.7			4.2
Adjustments to tax reserve		0.8			(2.1	)		(0.3	)
Other		(0.3	)		(0.6	)		(1.7	)
Effective income tax rate		25.3	%		23.0	%		23.2	%

The increase in the effective tax rate for fiscal 2023 as compared to prior fiscal year was due primarily from the release of certain tax reserves in the prior year comparable period which did not recur in fiscal 2023.

The components of deferred income taxes included on the Consolidated Balance Sheets are as follows (in thousands):


	August 26, 2023		August 27, 2022
Deferred tax assets:
Payroll and benefit related	$	15,284	$	14,923
Insurance related		14,347		15,035
Environmental		7,542		8,212
Accrued expenses		7,847		8,170
Operating lease liabilities		16,162		11,471
Research and development		3,628		—
Other		11,916		9,841
Total deferred tax assets	$	76,726	$	67,652
Deferred tax liabilities:
Payroll and benefit related	$	22,230	$	20,588
Tax in excess of book depreciation		53,597		40,016
Purchased intangible assets		43,994		39,747
Rental merchandise in service		62,562		55,287
Operating lease right-of-use assets		15,600		11,111
Other		488		232
Total deferred tax liabilities		198,471		166,981
Net deferred tax liability	$	121,745	$	99,329

The Company regularly reviews deferred tax assets for recoverability based upon projected future taxable income and the expected timing of the reversals of existing temporary differences. Although realization is not assured, management believes it is more likely than not that the recorded deferred tax assets will be realized.

Foreign tax effect

As of August 26, 2023, unremitted foreign earnings, have been retained by the Company’s foreign subsidiaries for indefinite reinvestment. If the Company were to repatriate those earnings, in the form of dividends or otherwise, the Company could be subject to immaterial withholding taxes payable to the various foreign countries.

Uncertain tax positions

As of August 26, 2023 and August 27, 2022, there was $7.8 million and $6.4 million, respectively, of unrecognized tax benefits, of which $7.1 million and $5.7 million, respectively, would favorably impact the Company’s effective tax rate, if recognized. The Company recognized interest and penalties related to uncertain tax positions as a component of income tax expense which is consistent with the recognition of these items in prior reporting periods. As of August 26, 2023 and August 27, 2022, the Company had accrued a nominal amount in interest and penalties, in its long-term accrued liabilities. For fiscal 2023, 2022 and 2021, the Company recognized a nominal expense in its Consolidated Statements of Income related to interest and penalties.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):


Balance at August 28, 2021	$	9,321
Additions based on tax positions related to the current year		489
Additions for tax positions of prior years		107
Reduction for tax positions of prior years		(3,013	)
Statute expirations		(487	)
Balance at August 27, 2022		6,417
Additions based on tax positions related to the current year		1,042
Additions for tax positions of prior years		840
Reduction for tax positions of prior years		(219	)
Statute expirations		(329	)
Balance at August 26, 2023	$	7,751

The Company has a significant portion of its operations in the U.S. and Canada. It is required to file federal income tax returns as well as state income tax returns in a majority of the U.S. states and also in a number of Canadian provinces. At times, the Company is subject to audits in these jurisdictions, which typically are complex and can require several years to resolve. The final resolution of any such tax audits could result in either a reduction in the Company’s accruals or an increase in its income tax provision, both of which could have a material impact on the consolidated results of operations in any given period.

All U.S. and Canadian federal income tax statutes have lapsed for filings up to and including fiscal years 2017 and 2015, respectively. With a few exceptions, the Company is no longer subject to state and local income tax examinations for periods prior to fiscal 2018. The Company is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change significantly in the next 12 months.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Aug. 26, 2023

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):


Balance as of August 28, 2021	$	429,538
Goodwill recorded during the period		27,964
Other		(243	)
Balance as of August 27, 2022	$	457,259
Goodwill recorded during the period		190,777
Other		(136	)
Balance as of August 26, 2023	$	647,900

Schedule of Intangible Assets, Net

Intangible assets, net in the Company’s accompanying Consolidated Balance Sheets are as follows (in thousands):


	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
August 26, 2023
Customer contracts	$	315,448	$	211,996	$	103,452
Software		80,538		45,117		35,421
Other intangible assets		43,598		36,853		6,745
	$	439,584	$	293,966	$	145,618
August 27, 2022
Customer contracts	$	247,721	$	198,668	$	49,053
Software		75,528		41,637		33,891
Other intangible assets		37,520		35,491		2,029
	$	360,769	$	275,796	$	84,973

Schedule of Estimated Future Amortization Expense

Estimated amortization expense for the five fiscal years subsequent to August 26, 2023 and thereafter, based on intangible assets, net as of August 26, 2023 is as follows (in thousands):


2024	$	26,507
2025		24,578
2026		21,731
2027		15,106
2028		13,561
Thereafter		44,135
Total estimated amortization expense	$	145,618

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
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-Section 55
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+ Details

Segment Reporting - Revenues and Income Before Income Taxes by Geographic Area (Details) - USD ($)
$ in Thousands

12 Months Ended

Aug. 26, 2023

Aug. 27, 2022

Aug. 28, 2021

Revenues From External Customers And Long Lived Assets [Line Items]

Revenues

$ 2,233,047

$ 2,000,822

$ 1,826,216

Income before income taxes

138,837

134,325

196,871

United States

Revenues From External Customers And Long Lived Assets [Line Items]

Revenues

2,054,601

1,831,089

1,672,530

Income before income taxes

129,997

128,567

187,442

Europe, Canada, Mexico and Nicaragua

Revenues From External Customers And Long Lived Assets [Line Items]

Income before income taxes

^[1]

8,840

5,758

9,429

Europe and Canada

Revenues From External Customers And Long Lived Assets [Line Items]

Revenues

^[1]

$ 178,446

$ 169,733

$ 153,686

[1]	No country other than the U.S. accounts for greater than 10% of total long-lived assets, revenues or income before income taxes.

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 220
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-Section S99
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Long-Term Debt - Narrative (Details) - USD ($) $ in Millions			3 Months Ended	12 Months Ended
	Mar. 09, 2023	Mar. 26, 2021	May 27, 2023	Aug. 26, 2023	Aug. 27, 2022
Debt Instrument [Line Items]
Outstanding letters of credit				$ 66.5	$ 60.8
Revolving Credit Facility \| Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 275.0	$ 175.0
Additional commitments amount in maximum borrowing capacity	375.0
Maturity date		Mar. 26, 2026
Outstanding borrowings				0.0
Outstanding letters of credit				66.5
Amount available for borrowing				$ 208.5
Increases in aggregate commitments	100.0
Maximum additional amount increases in aggregate commitments	$ 100.0
Revolving Credit Facility \| Credit Agreement \| Clean Holdco, Inc.
Debt Instrument [Line Items]
Maximum amount borrowed			$ 80.0
Revolving Credit Facility \| Credit Agreement \| SOFR
Debt Instrument [Line Items]
Basis spread on variable rate (as percent)				1.00%

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Aug. 26, 2023

Accounting Policies [Abstract]

Schedule of Total Revenue Disaggregated by Service Type

The following table presents the Company’s revenues for fiscal 2023, 2022, and 2021 disaggregated by service type:


	Years ended
	August 26, 2023					August 27, 2022					August 28, 2021
(In thousands, except percentages)	Revenues		% of Revenues			Revenues		% of Revenues			Revenues		% of Revenues
Core Laundry Operations	$	1,961,189		87.8	%	$	1,770,502		88.5	%	$	1,615,560		88.5	%
Specialty Garments		177,034		8.0	%		152,885		7.6	%		145,454		8.0	%
First Aid		94,824		4.2	%		77,435		3.9	%		65,202		3.5	%
Total Revenues	$	2,233,047		100.0	%	$	2,000,822		100.0	%	$	1,826,216		100.0	%

Schedule of Components of Inventory

The components of inventory as of August 26, 2023 and August 27, 2022 were as follows (in thousands):


	August 26, 2023		August 27, 2022
Raw materials	$	25,147	$	25,932
Work in process		4,444		2,876
Finished goods		118,743		122,651
Total inventory	$	148,334	$	151,459

Schedule of Components of Property, Plant and Equipment

The components of property, plant and equipment as of August 26, 2023 and August 27, 2022 were as follows (in thousands):


	August 26, 2023		August 27, 2022
Land, buildings and leasehold equipment	$	744,085	$	663,089
Machinery and equipment		676,490		622,168
Motor vehicles		331,537		308,242
		1,752,112		1,593,499
Less: accumulated depreciation		995,572		928,380
Total property, plant and equipment	$	756,540	$	665,119

Schedule of Useful Lives of Property, Plant and Equipment

The Company provides for depreciation on the straight-line method based on the date the asset is placed in service using the following estimated useful lives:


Buildings (in years)		30 — 40
Building components (in years)		10 — 20
Leasehold improvements		Shorter of useful life or term of lease
Machinery and equipment (in years)		3 — 10
Motor vehicles (in years)		3 — 5

Schedule of Computation of Basic Income Per Share

The following table sets forth the computation of basic income per share using the two-class method for amounts attributable to the Company’s shares of Common Stock and Class B Common Stock (in thousands, except per share data):


Year ended	August 26, 2023		August 27, 2022		August 28, 2021
Net income available to shareholders	$	103,674	$	103,404	$	151,111
Allocation of net income for Basic:
Common Stock	$	87,104	$	86,844	$	126,848
Class B Common Stock		16,570		16,560		24,263
	$	103,674	$	103,404	$	151,111
Weighted average number of shares for Basic:
Common Stock		15,098		15,203		15,237
Class B Common Stock		3,590		3,621		3,643
		18,688		18,824		18,880
Income per share for Basic:
Common Stock	$	5.77	$	5.71	$	8.32
Class B Common Stock	$	4.62	$	4.57	$	6.66

Schedule of Computation of Diluted Income Per Share

The following table sets forth the computation of diluted income per share of Common Stock for the years ended August 26, 2023, August 27, 2022 and August 28, 2021 (in thousands, except per share data):


	Year Ended August 26, 2023						Year Ended August 27, 2022						Year Ended August 28, 2021
	Earnings to Common shareholders		Common Shares		Income Per Share		Earnings to Common shareholders		Common Shares		Income Per Share		Earnings to Common shareholders		Common Shares		Income Per Share
As reported—Basic	$	87,104		15,098	$	5.77	$	86,844		15,203	$	5.71	$	126,848		15,237	$	8.32
Add: effect of dilutive potential common shares
Share-Based Awards		—		74				—		109				—		158
Class B Common Stock		16,570		3,590				16,560		3,621				24,263		3,643
Diluted Income Per Share— Common Stock	$	103,674		18,762	$	5.53	$	103,404		18,933	$	5.46	$	151,111		19,038	$	7.94

Schedule II - Valuation and Qualifying Accounts and Reserves (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 26, 2023	Aug. 27, 2022	Aug. 28, 2021
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance, Beginning of Period	$ 15,605	$ 11,122	$ 12,125
Charged to Costs and Expenses	9,826	9,326	1,572
Charges for Which Reserves Were Created or Deductions	(8,246)	(4,843)	(2,575)
Balance, End of Period	$ 17,185	$ 15,605	$ 11,122

Employee Benefit Plans - Amounts Recorded in Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Aug. 26, 2023	Aug. 27, 2022
Pension Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Deferred tax assets (liabilities)	$ (16)	$ 184
Accrued liabilities	563	537
Accumulated other comprehensive loss	46	40
SERP
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Deferred tax assets (liabilities)	(904)	(10)
Accrued liabilities	25,119	27,562
Accumulated other comprehensive loss	$ (2,628)	$ (720)

Schedule II - Valuation and Qualifying Accounts and Reserves

12 Months Ended

Aug. 26, 2023

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Schedule II - Valuation and Qualifying Accounts and Reserves

Schedule II—Valuation and qualifying accounts and reserves for each of the three years in the period ended August 26, 2023

UniFirst Corporation and Subsidiaries

Schedule II—Valuation and qualifying accounts and reserves


(In thousands)	Balance at Beginning of Year		Charged to Costs and Expenses		Charges for Which Reserves Were Created or Deductions			Balance at End of Year
Reserves for Accounts Receivable
August 26, 2023	$	15,605	$	9,826	$	(8,246	)	$	17,185
August 27, 2022	$	11,122	$	9,326	$	(4,843	)	$	15,605
August 28, 2021	$	12,125	$	1,572	$	(2,575	)	$	11,122

Goodwill and Other Intangible Assets - Schedule of Estimated Future Amortization Expense (Details) - USD ($) $ in Thousands	Aug. 26, 2023	Aug. 27, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 26,507
2025	24,578
2026	21,731
2027	15,106
2028	13,561
Thereafter	44,135
Net Carrying Amount	$ 145,618	$ 84,973

Summary of Significant Accounting Policies

12 Months Ended

Aug. 26, 2023

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

1. Summary of Significant Accounting Policies

Business Description

Principles of Consolidation

The Consolidated Financial Statements include the accounts of the Company and its subsidiaries, all of which are wholly-owned. Intercompany balances and transactions are eliminated in consolidation.

Basis of Presentation

Use of Estimates

Fiscal Year

Cash, Cash Equivalents and Short-Term Investments

Accounts receivable

Financial Instruments

Revenue Recognition

The following table presents the Company’s revenues for fiscal 2023, 2022, and 2021 disaggregated by service type:


	Years ended
	August 26, 2023					August 27, 2022					August 28, 2021
(In thousands, except percentages)	Revenues		% of Revenues			Revenues		% of Revenues			Revenues		% of Revenues
Core Laundry Operations	$	1,961,189		87.8	%	$	1,770,502		88.5	%	$	1,615,560		88.5	%
Specialty Garments		177,034		8.0	%		152,885		7.6	%		145,454		8.0	%
First Aid		94,824		4.2	%		77,435		3.9	%		65,202		3.5	%
Total Revenues	$	2,233,047		100.0	%	$	2,000,822		100.0	%	$	1,826,216		100.0	%

See Note 15, “Segment Reporting” for additional details of segment definitions.

Costs to Obtain a Contract

Inventories and Rental Merchandise in Service

The components of inventory as of August 26, 2023 and August 27, 2022 were as follows (in thousands):


	August 26, 2023		August 27, 2022
Raw materials	$	25,147	$	25,932
Work in process		4,444		2,876
Finished goods		118,743		122,651
Total inventory	$	148,334	$	151,459

Property, Plant and Equipment

Property, plant and equipment are recorded at cost. Expenditures for maintenance and repairs are expensed as incurred, while expenditures for renewals and betterments are capitalized.

The components of property, plant and equipment as of August 26, 2023 and August 27, 2022 were as follows (in thousands):


	August 26, 2023		August 27, 2022
Land, buildings and leasehold equipment	$	744,085	$	663,089
Machinery and equipment		676,490		622,168
Motor vehicles		331,537		308,242
		1,752,112		1,593,499
Less: accumulated depreciation		995,572		928,380
Total property, plant and equipment	$	756,540	$	665,119

The Company provides for depreciation on the straight-line method based on the date the asset is placed in service using the following estimated useful lives:


Buildings (in years)		30 — 40
Building components (in years)		10 — 20
Leasehold improvements		Shorter of useful life or term of lease
Machinery and equipment (in years)		3 — 10
Motor vehicles (in years)		3 — 5

Goodwill and Other Intangible Assets

Environmental and Other Contingencies

Asset Retirement Obligations

Insurance

Supplemental Executive Retirement Plan and other Pension Plans

Pension expense is recognized on an accrual basis over employees’ estimated service periods. Pension expense is generally independent of funding decisions or requirements.

Nonqualified Deferred Compensation Plan

Income Taxes

Advertising Costs

Share-Based Compensation

Income Per Share


Year ended	August 26, 2023		August 27, 2022		August 28, 2021
Net income available to shareholders	$	103,674	$	103,404	$	151,111
Allocation of net income for Basic:
Common Stock	$	87,104	$	86,844	$	126,848
Class B Common Stock		16,570		16,560		24,263
	$	103,674	$	103,404	$	151,111
Weighted average number of shares for Basic:
Common Stock		15,098		15,203		15,237
Class B Common Stock		3,590		3,621		3,643
		18,688		18,824		18,880
Income per share for Basic:
Common Stock	$	5.77	$	5.71	$	8.32
Class B Common Stock	$	4.62	$	4.57	$	6.66

The Company is required to calculate the diluted income per share for Common Stock using the more dilutive of the following two methods:

•

The treasury stock method; or

•

The two-class method assuming a participating security is not exercised or converted.


	Year Ended August 26, 2023						Year Ended August 27, 2022						Year Ended August 28, 2021
	Earnings to Common shareholders		Common Shares		Income Per Share		Earnings to Common shareholders		Common Shares		Income Per Share		Earnings to Common shareholders		Common Shares		Income Per Share
As reported—Basic	$	87,104		15,098	$	5.77	$	86,844		15,203	$	5.71	$	126,848		15,237	$	8.32
Add: effect of dilutive potential common shares
Share-Based Awards		—		74				—		109				—		158
Class B Common Stock		16,570		3,590				16,560		3,621				24,263		3,643
Diluted Income Per Share— Common Stock	$	103,674		18,762	$	5.53	$	103,404		18,933	$	5.46	$	151,111		19,038	$	7.94

Foreign Currency Translation

Recent Accounting Pronouncements

Summary of Significant Accounting Policies - Schedule of Total Revenue Disaggregated by Service Type (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 26, 2023	Aug. 27, 2022	Aug. 28, 2021
Disaggregation of Revenue [Line Items]
Total revenues	$ 2,233,047	$ 2,000,822	$ 1,826,216
Revenue \| Revenues
Disaggregation of Revenue [Line Items]
Percentage of revenues	100.00%	100.00%	100.00%
Core Laundry Operations
Disaggregation of Revenue [Line Items]
Total revenues	$ 1,961,189	$ 1,770,502	$ 1,615,560
Core Laundry Operations \| Revenue \| Revenues
Disaggregation of Revenue [Line Items]
Percentage of revenues	87.80%	88.50%	88.50%
Specialty Garments
Disaggregation of Revenue [Line Items]
Total revenues	$ 177,034	$ 152,885	$ 145,454
Specialty Garments \| Revenue \| Revenues
Disaggregation of Revenue [Line Items]
Percentage of revenues	8.00%	7.60%	8.00%
First Aid
Disaggregation of Revenue [Line Items]
Total revenues	$ 94,824	$ 77,435	$ 65,202
First Aid \| Revenue \| Revenues
Disaggregation of Revenue [Line Items]
Percentage of revenues	4.20%	3.90%	3.50%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

+ References

+ Details

Income Taxes - Components of Deferred Income Taxes (Details) - USD ($) $ in Thousands	Aug. 26, 2023	Aug. 27, 2022
Deferred tax assets
Payroll and benefit related	$ 15,284	$ 14,923
Insurance related	14,347	15,035
Environmental	7,542	8,212
Accrued expenses	7,847	8,170
Operating lease liabilities	16,162	11,471
Research and development	3,628
Other	11,916	9,841
Total deferred tax assets	76,726	67,652
Deferred tax liabilities
Payroll and benefit related	22,230	20,588
Tax in excess of book depreciation	53,597	40,016
Purchased intangible assets	43,994	39,747
Rental merchandise in service	62,562	55,287
Operating lease right-of-use assets	15,600	11,111
Other	488	232
Total deferred tax liabilities	198,471	166,981
Net deferred tax liability	$ 121,745	$ 99,329

Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands

12 Months Ended

Aug. 26, 2023

Aug. 27, 2022

Aug. 28, 2021

Statement of Comprehensive Income [Abstract]

Net income

$ 103,674

$ 103,404

$ 151,111

Other comprehensive income:

Foreign currency translation adjustments

(1,701)

(7,002)

4,208

Pension benefit liabilities, net of income taxes

^[1]

2,130

7,518

2,960

Change in fair value of derivatives, net of income taxes

100

(34)

Other comprehensive income

529

546

7,134

Comprehensive income

$ 104,203

$ 103,950

$ 158,245

[1]	These amounts are shown net of the effect of income taxes.

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Summary of Significant Accounting Policies - Schedule of Useful Lives of Property, Plant and Equipment (Details)	Aug. 26, 2023
Property, Plant and Equipment [Line Items]
Property, Plant, and Equipment, Useful Life, Term, Description [Extensible Enumeration]	us-gaap:LeaseholdImprovementsMember
Buildings \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	30 years
Buildings \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	40 years
Building Components \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	10 years
Building Components \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	20 years
Machinery and Equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Machinery and Equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	10 years
Motor Vehicles \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Motor Vehicles \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years

Income Taxes - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 26, 2023	Aug. 27, 2022
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ 6,417	$ 9,321
Additions based on tax positions related to the current year	1,042	489
Additions for tax positions of prior years	840	107
Reduction for tax positions of prior years	(219)	(3,013)
Statute expirations	(329)	(487)
Ending balance	$ 7,751	$ 6,417

Commitments and Contingencies

12 Months Ended

Aug. 26, 2023

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

11. Commitments and Contingencies

Lease Commitments

The Company has operating leases for certain operating facilities, vehicles and equipment, which provide the right to use the underlying asset and require lease payments over the term of the lease. Each new contract is evaluated to determine if an arrangement contains a lease and whether that lease meets the classification criteria of a finance or operating lease. All identified leases are recorded on the Consolidated Balance Sheet with a corresponding operating lease right-of-use asset, net, representing the right to use the underlying asset for the lease term and the operating lease liabilities representing the obligation to make lease payments arising from the lease. Short-term operating leases, which have an initial term of twelve months or less, are not recorded on the Consolidated Balance Sheet.

Operating lease right-of-use assets, net and operating lease liabilities are recognized at the commencement date of the lease based on the present value of lease payments over the lease term and include options to extend or terminate the lease when they are reasonably certain to be exercised. The present value of lease payments is determined primarily using the incremental borrowing rate based on the information available as of the lease commencement date. Lease expense for operating leases is recorded on a straight-line basis over the lease term and variable lease costs are recorded as incurred. Both lease expense and variable lease costs are primarily recorded in cost of revenues on the Company's Consolidated Statements of Income. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants.

The following table presents the operating lease cost and information related to the operating lease right-of-use assets, net and operating lease liabilities for fiscal 2023, 2022 and 2021:


(In thousands, except lease term and discount rate)	2023			2022			2021
Lease cost:
Operating lease costs including short-term lease expense and variable lease costs, which were immaterial in the period	$	22,303		$	20,284		$	19,329

Operating cash flow impacts:
Cash paid for amounts included in the measurement of operating lease liabilities	$	16,710		$	15,123		$	13,629
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities	$	23,076		$	21,391		$	13,592
Operating lease right-of-use assets acquired in business combination	$	4,167		$	—		$	—
Weighted-average remaining lease term - operating leases	4.48			4.66			4.09
Weighted-average discount rate - operating leases		3.55	%		2.24	%		2.28	%

Total rent expense on all leases was $18.4 million, $16.7 million and $16.2 million for fiscal 2023, 2022 and 2021, respectively.

The contractual future minimum lease payments of the Company's operating lease liabilities by fiscal year as of August 26, 2023 are as follows (in thousands):


2024	$	19,629
2025		16,078
2026		12,956
2027		9,747
2028		6,416
Thereafter		6,618
Total payments		71,444
Less interest		6,685
Total present value of lease payments	$	64,759

Environmental and Legal Contingencies

The Company and its operations are subject to various federal, state and local laws and regulations governing, among other things, air emissions, wastewater discharges, and the generation, handling, storage, transportation, treatment and disposal of hazardous wastes and other substances. In particular, industrial laundries currently use and must dispose of detergent waste water and other residues, and, in the past, used perchloroethylene and other dry-cleaning solvents. The Company is attentive to the environmental concerns surrounding the disposal of these materials and has, through the years, taken measures to avoid their improper disposal. The Company has settled, or contributed to the settlement of, past actions or claims brought against the Company relating to the disposal of hazardous materials at several sites and there can be no assurance that the Company will not have to expend material amounts to remediate the consequences of any such disposal in the future.

U.S. GAAP requires that a liability for contingencies be recorded when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated. Significant judgment is required to determine the existence of a liability, as well as the amount to be recorded. The Company regularly consults with attorneys and outside consultants in its consideration of the relevant facts and circumstances before recording a contingent liability. Changes in enacted laws, regulatory orders or decrees, management’s estimates of costs, risk-free interest rates, insurance proceeds, participation by other parties, the timing of payments, the input of the Company’s attorneys and outside consultants or other factual circumstances could have a material impact on the amounts recorded for environmental and other contingent liabilities.

Under environmental laws, an owner or lessee of real estate may be liable for the costs of removal or remediation of certain hazardous or toxic substances located on, or in, or emanating from, such property, as well as related costs of investigation and property damage. Such laws often impose liability without regard to whether the owner or lessee knew of, or was responsible for the presence of such hazardous or toxic substances. There can be no assurances that acquired or leased locations have been operated in compliance with environmental laws and regulations or that future uses or conditions will not result in the imposition of liability upon the Company under such laws or expose the Company to third-party actions such as tort suits. The Company continues to address environmental conditions under terms of consent orders negotiated with the applicable environmental authorities or otherwise with respect to certain sites.

The Company has accrued certain costs related to certain sites, including but not limited to, sites in Woburn and Somerville, Massachusetts, as it has been determined that the costs are probable and can be reasonably estimated. The Company, together with multiple other companies, are party to a consent decree related to the Company's property and the Central Area in Woburn, Massachusetts. The EPA has provided the Company and other signatories to the consent decree with comments on the design and implementation of groundwater and soil remedies at the Woburn site and investigation of environmental conditions in the Central Area. The consent decree does not address any remediation work that may be required in the Central Area. The Company, and other signatories, has implemented and proposed to do additional work at the Woburn site but many of the EPA’s comments remain to be resolved. The Company has accrued costs to perform certain work responsive to the EPA’s comments. Additionally, the Company has implemented mitigation measures and continue to monitor environmental conditions at a site in Somerville, Massachusetts. The Company has agreed to undertake additional actions responsive to a notice of audit findings from the Massachusetts Department of Environmental Protection concerning a regulatory submittal that the Company made in 2009 for a portion of the site. The Company has received demands from the local transit authority for reimbursement of certain costs associated with its construction of a new municipal transit station in the area of the Somerville site. This station is part of an ongoing extension of the transit system. The Company has reserved for costs in

connection with this matter; however, in light of the uncertainties associated with this matter, these costs and the related reserve may change.

The Company routinely reviews and evaluates sites that may require remediation and monitoring and determines its estimated costs based on various estimates and assumptions. These estimates are developed using its internal sources or by third party environmental engineers or other service providers. Internally developed estimates are based on:

•

Management’s judgment and experience in remediating and monitoring the Company’s sites;

•

Information available from regulatory agencies as to costs of remediation and monitoring;

•

The number, financial resources and relative degree of responsibility of other potentially responsible parties (“PRPs”) who may be liable for remediation and monitoring of a specific site; and

•

The typical allocation of costs among PRPs.

There is usually a range of reasonable estimates of the costs associated with each site. In accordance with U.S. GAAP, the Company’s accruals reflect the amount within the range that it believes is the best estimate or the low end of a range of estimates if no point within the range is a better estimate. Where it believes that both the amount of a particular liability and the timing of the payments are reliably determinable, the Company adjusts the cost in current dollars using a rate of 3% for inflation until the time of expected payment and discounts the cost to present value using current risk-free interest rates. As of August 26, 2023, the risk-free interest rates utilized by the Company ranged from 4.3% to 4.7%.

For environmental liabilities that have been discounted, the Company includes interest accretion, based on the effective interest method, in selling and administrative expenses on the accompanying Consolidated Statements of Income. The changes to the Company’s environmental liabilities for fiscal 2023 and 2022 were as follows (in thousands):


Year ended	August 26, 2023			August 27, 2022
Beginning balance	$	32,191		$	32,859
Costs incurred for which reserves have been provided		(1,936	)		(2,188	)
Insurance proceeds		147			135
Interest accretion		1,036			596
Changes in discount rates		(2,446	)		(3,235	)
Revisions in estimates		1,037			4,024
Ending balance	$	30,029		$	32,191


Fiscal year ended August	2024			2025			2026			2027			2028			Thereafter			Total
Estimated costs—current dollars	$	14,049		$	2,651		$	1,442		$	1,270		$	972		$	14,617		$	35,001
Estimated insurance proceeds		(180	)		(195	)		(159	)		(173	)		(9	)		(230	)		(946	)
Net anticipated costs	$	13,869		$	2,456		$	1,283		$	1,097		$	963		$	14,387		$	34,055
Effect of inflation																				9,227
Effect of discounting																				(13,253	)
Balance as of August 26, 2023																			$	30,029

Estimated insurance proceeds are primarily received from an annuity received as part of a legal settlement with an insurance company. Annual proceeds of approximately $0.3 million are deposited into an escrow account which funds remediation and monitoring costs for two sites related to former operations. Annual proceeds received but not expended in the current year accumulate in this account and may be used in future years for costs related to this site through the year 2027. As of August 26, 2023, the balance in this escrow account, which is held in a trust and is not recorded in the Company’s accompanying Consolidated Balance Sheet, was approximately $5.2 million. Also included in estimated insurance proceeds are amounts the Company is entitled to receive pursuant to legal settlements as reimbursements from three insurance companies for estimated costs at one of its sites.

The Company’s nuclear garment decontamination facilities are licensed by respective state agencies, as delegated authority by the Nuclear Regulatory Commission (the “NRC”) pursuant to the NRC’s Agreement State program and are subject to applicable federal and state radioactive material regulations. In addition, the Company’s international locations (Canada, the

United Kingdom and the European Union) are regulated by equivalent respective jurisdictional authorities. There can be no assurance that such regulation will not lead to material disruptions in the Company’s garment decontamination business.

From time to time, the Company is also subject to legal and regulatory proceedings and claims arising from the conduct of its business operations, including personal injury claims, customer contract matters, employment claims and environmental matters as described above.

In addition, in the fourth quarter of fiscal 2022, the Mexican federal tax authority issued a tax assessment on the Company’s subsidiary in Mexico for fiscal 2016 import taxes, value added taxes and custom processing fees of over $17.0 million, plus surcharges, fines and penalties of $67.7 million for a total assessment of $84.7 million, which accrues interest and other charges. The Company disagrees with such tax assessment and is challenging the validity of the tax assessment through an appeal process. While the Company is unable to ascertain the ultimate outcome of this matter, based on the information currently available, the Company believes that a loss with respect to this matter is neither probable nor remote. Given the uncertainty associated with the ultimate resolution of this matter, the Company is unable to reasonably assess an estimate or range of estimates of any potential losses.

While it is impossible for the Company to ascertain the ultimate legal and financial liability with respect to contingent liabilities, including lawsuits and environmental contingencies, the Company believes that the aggregate amount of such liabilities, if any, in excess of amounts covered by insurance have been properly accrued in accordance with U.S. GAAP. It is possible, however, that the future financial position and/or results of operations for any particular future period could be materially affected by changes in the Company’s assumptions or strategies related to these contingencies or changes out of the Company’s control.

Other Contingent Liabilities

As security for certain agreements with the NRC and various state agencies related to the nuclear operations (see above) and certain insurance programs, the Company had standby irrevocable bank commercial letters of credit of $66.5 million and $60.8 million outstanding as of August 26, 2023 and August 27, 2022, respectively.

Non-cancellable purchase commitments for inventories, software, and services amounted to $74.8 million as of August 26, 2023, of which $45.9 million will be paid in less than 1 year, $16.0 million will be paid in 1 to 3 years, and the remaining will be paid in 3 to 5 years.

Employee Benefit Plans - Amounts Recognized in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Aug. 26, 2023	Aug. 27, 2022
Pension Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Net actuarial gain (loss)	$ (94)	$ (75)
Unrecognized prior service cost	156	115
Accumulated other comprehensive loss	62	40
SERP
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Net actuarial gain (loss)	3,531	(720)
Accumulated other comprehensive loss	$ 3,531	$ (720)

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($)	12 Months Ended
	Aug. 26, 2023	Aug. 27, 2022	Aug. 28, 2021
Goodwill [Line Items]
Impairment losses related to goodwill or intangible assets	$ 0	$ 0	$ 0
Goodwill	647,900,000	$ 457,259,000	$ 429,538,000
US and Canadian Rental and Cleaning
Goodwill [Line Items]
Goodwill	636,400,000
Specialty Garments
Goodwill [Line Items]
Goodwill	10,900,000
First Aid
Goodwill [Line Items]
Goodwill	$ 600,000

- Definition

+ References + Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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-Section 50
-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
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-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Employee Benefit Plans

12 Months Ended

Aug. 26, 2023

Postemployment Benefits [Abstract]

Employee Benefit Plans

7. Employee Benefit Plans

Defined Contribution Retirement Savings Plan

The Company has a defined contribution retirement savings plan with a 401(k) feature for all eligible U.S. and Canadian employees not under collective bargaining agreements. The Company matches a portion of the employee’s contribution and may make an additional contribution at its discretion. Contributions charged to expense under the plan for fiscal 2023, 2022 and 2021 were $18.7 million, $18.2 million and $19.9 million, respectively.

Pension Plan and Supplemental Executive Retirement Plan

The Company accounts for its pension plan and Supplemental Executive Retirement Plan on an accrual basis over employees’ estimated service periods.

The Company maintains an unfunded Supplemental Executive Retirement Plan (“SERP”) for certain eligible employees of the Company. The benefits are based on the employee’s compensation upon retirement. The amount charged to expense related to this plan amounted to approximately $1.7 million, $1.5 million and $2.9 million for fiscal 2023, 2022 and 2021, respectively.

The Company maintains a non-contributory defined benefit pension plan (“UniFirst Plan”) covering employees at one of its locations. The benefits are based on years of service. The UniFirst Plan assets are invested in a Guaranteed Deposit Account (“GDA”) that is maintained and operated by a third-party investment manager. The amount charged to expense related to this plan amounted to approximately $0.1 million, $0.1 million and $0.2 million for fiscal 2023 fiscal 2022 and 2021, respectively.

The components of net periodic benefit cost for fiscal 2023, 2022 and 2021 were as follows (in thousands):


	UniFirst Plan									SERP
	2023			2022			2021			2023		2022			2021
Service cost	$	73		$	72		$	71		$	486	$	919		$	1,100
Interest cost		147			104			104			1,191		928			943
Expected return on assets		(101	)		(118	)		(131	)		—		—			—
Amortization of prior service cost		21			21			55			—		—			—
Amortization of net loss		—			20			36			—		516			821
Other events		(12	)		(10	)		49			—		(855	)		—
Net periodic benefit cost	$	128		$	89		$	184		$	1,677	$	1,508		$	2,864

The Company’s obligations and funded status as of August 26, 2023 and August 27, 2022 were as follows (in thousands):


	UniFirst Plan						SERP
	2023			2022			2023			2022
Change in benefit obligation:
Projected benefit obligation, beginning of year	$	3,837		$	5,035		$	27,562		$	36,644
Service cost		73			72			486			919
Interest cost		147			104			1,191			928
Actuarial gain		(220	)		(861	)		(2,811	)		(8,871	)
Benefits paid		(17	)		(23	)		(1,309	)		(1,203	)
Settlements/Curtailments		(271	)		(490	)		—			(855	)
Projected benefit obligation, end of year	$	3,549		$	3,837		$	25,119		$	27,562

Change in plan assets:
Fair value of plan assets, beginning of year	$	3,300		$	3,796		$	—		$	—
Actual return on plan assets		(26	)		17			—			—
Benefits paid		(17	)		(23	)		—			—
Settlements/Curtailments		(271	)		(490	)		—			—
Fair value of plan assets, end of year	$	2,986		$	3,300		$	—		$	—
Funded status (net amount recognized)	$	(563	)	$	(537	)	$	(25,119	)	$	(27,562	)

As of August 26, 2023 and August 27, 2022, the accumulated benefit obligations related to the UniFirst Plan were $3.5 million and $3.8 million, respectively. As of August 26, 2023 and August 27, 2022, the accumulated benefit obligations related to the SERP were $22.5 million and $24.6 million, respectively.

The amounts recorded on the Consolidated Balance Sheet as of August 26, 2023 and August 27, 2022 were as follows (in thousands):


	Pension Plans					SERP
	2023			2022		2023			2022
Deferred tax (liabilities) assets	$	(16	)	$	184	$	(904	)	$	(10	)
Accrued liabilities		563			537		25,119			27,562
Accumulated other comprehensive income (loss)		46			40		2,628			(720	)

As of August 26, 2023 and August 27, 2022, the amounts recognized in accumulated other comprehensive loss were as follows (in thousands):


	UniFirst Plan						SERP
	2023			2022			2023		2022
Net actuarial (loss) gain	$	(94	)	$	(75	)	$	3,531	$	(720	)
Unrecognized prior service cost		156			115			—		—
Accumulated other comprehensive income (loss)	$	62		$	40		$	3,531	$	(720	)

The weighted average assumptions used in calculating the Company’s projected benefit obligation as of August 26, 2023 and August 27, 2022, were as follows:


	UniFirst Plan						SERP
	2023			2022			2023			2022
Discount rate		5.1	%		4.3	%		5.2	%		4.4	%
Rate of compensation increase	N/A			N/A				5.0	%		5.0	%

The weighted average assumptions used in calculating the Company’s net periodic service cost for fiscal 2023, 2022 and 2021 were as follows:


	UniFirst Plan									SERP
	2023			2022			2021			2023			2022			2021
Discount rate		4.3	%		2.3	%		2.0	%		4.4	%		2.6	%		2.5	%
Expected return on plan assets		3.5	%		3.5	%		3.5	%	N/A			N/A			N/A
Rate of compensation increase	N/A			N/A			N/A				5.0	%		5.0	%		5.0	%


	UniFirst Plan		SERP
2024	$	767	$	1,509
2025		317		1,567
2026		312		1,695
2027		135		1,752
2028		236		1,676
2029-2033		1,191		8,396

Nonqualified Deferred Compensation Plan

The Company adopted the NQDC Plan effective on February 1, 2022. The NQDC Plan is an unfunded, nonqualified deferred compensation plan that allows eligible participants to voluntarily defer receipt of their salary and annual cash bonuses up to approved limits. In its discretion, the Company may credit one or more additional contributions to participant accounts. NQDC Plan participants who are not accruing benefits under the Supplemental Executive Retirement Plan are eligible to have discretionary annual employer contributions credited to their NQDC Plan accounts. All participants are also eligible to have employer supplemental contributions and employer discretionary contributions credited to their NQDC Plan accounts. The amounts of such contributions, if any, may differ from year to year and from participant to participant. The amounts for employee or employer contributions charged to expense related to the NQDC Plan for fiscal 2023 and fiscal 2022 were $0.3 million and nominal, respectively. The Company, at its discretion, may also elect to transfer funds to a trust account with the intention to fund the future liability. Total NQDC Plan assets were $2.0 million and $1.3 million as of August 26, 2023 and August 27, 2022, respectively, and are included within other long-term assets in the accompanying Consolidated Balance Sheet. Total NQDC Plan liabilities were nominal as of each August 26, 2023 and August 27, 2022 and are included within current accrued liabilities in the accompanying Consolidated Balance Sheet.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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+ Details