0000950170-24-041726 | 10-Q | XBRL Viewer

Employee Benefit Plans	6 Months Ended
Feb. 24, 2024
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 the thirteen weeks ended February 24, 2024 and February 25, 2023 were $4.8 million and $4.1 million, respectively. Contributions charged to expense under the plan for the twenty-six weeks ended February 24, 2024 and February 25, 2023 were $10.1 million and $9.9 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 certain employees’ estimated service periods. The Company maintains an unfunded Supplemental Executive Retirement Plan for certain eligible employees of the Company and one frozen non-contributory defined benefit pension plan. The amounts charged to expense related to these plans were $0.4 million for each of the thirteen weeks ended February 24, 2024 and February 25, 2023. The amounts charged to expense related to these plans were $0.8 million and $0.9 million, respectively, for the twenty-six weeks ended February 24, 2024 and February 25, 2023. Non-qualified 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, non-qualified 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 the thirteen and twenty-six weeks ended February 24, 2024 were $0.2 million and $0.4 million, respectively. The amounts for employee or employer contributions charged to expense related to the NQDC Plan for the thirteen and twenty-six weeks ended February 25, 2023 were $0.1 million and $0.2 million, 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 $3.0 million and $2.0 million as of February 24, 2024 and August 26, 2023, respectively, and are included within other long-term assets in the accompanying Consolidated Balance Sheets. Total NQDC Plan liabilities were $1.1 million and $0.5 million as of February 24, 2024 and August 26, 2023, respectively, and are included within current accrued liabilities in the accompanying Consolidated Balance Sheets.

Employee Benefit Plans

6 Months Ended

Feb. 24, 2024

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 the thirteen weeks ended February 24, 2024 and February 25, 2023 were $4.8 million and $4.1 million, respectively. Contributions charged to expense under the plan for the twenty-six weeks ended February 24, 2024 and February 25, 2023 were $10.1 million and $9.9 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 certain employees’ estimated service periods.

The Company maintains an unfunded Supplemental Executive Retirement Plan for certain eligible employees of the Company and one frozen non-contributory defined benefit pension plan. The amounts charged to expense related to these plans were $0.4 million for each of the thirteen weeks ended February 24, 2024 and February 25, 2023. The amounts charged to expense related to these plans were $0.8 million and $0.9 million, respectively, for the twenty-six weeks ended February 24, 2024 and February 25, 2023.

Non-qualified 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, non-qualified 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 the thirteen and twenty-six weeks ended February 24, 2024 were $0.2 million and $0.4 million, respectively. The amounts for employee or employer contributions charged to expense related to the NQDC Plan for the thirteen and twenty-six weeks ended February 25, 2023 were $0.1 million and $0.2 million, 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 $3.0 million and $2.0 million as of February 24, 2024 and August 26, 2023, respectively, and are included within other long-term assets in the accompanying Consolidated Balance Sheets. Total NQDC Plan liabilities were $1.1 million and $0.5 million as of February 24, 2024 and August 26, 2023, respectively, and are included within current accrued liabilities in the accompanying Consolidated Balance Sheets.

- 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
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (q)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (l)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//715/tableOfContent

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (o)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (p)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480126/715-20-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480266/715-60-50-3

+ Details

Related Party - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Related Party - Narrative (Details) - USD ($) $ in Millions	Feb. 24, 2024	Feb. 25, 2023	Feb. 24, 2024	Feb. 25, 2023
Related Party Transaction [Line Items]
Related party expense	$ 0.8	$ 0.7	$ 2.1	$ 1.6

Fair Value Measurements (Tables)

6 Months Ended

Feb. 24, 2024

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):


	February 24, 2024
	Level 1		Level 2		Level 3		Fair Value
Assets:
Short-term investments	$	—	$	11,392	$	—	$	11,392
Pension plan assets		—		2,925		—		2,925
Non-qualified deferred compensation plan assets		—		3,015		—		3,015
Foreign currency forward contracts		—		154		—		154
Total assets at fair value	$	—	$	17,486	$	—	$	17,486
Liabilities:
Non-qualified deferred compensation plan liability	$	—	$	1,108	$	—	$	1,108
Total liabilities at fair value	$	—	$	1,108	$	—	$	1,108


	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

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

3 Months Ended

6 Months Ended

Feb. 24, 2024

Feb. 25, 2023

Feb. 24, 2024

Feb. 25, 2023

Revenues

$ 590,711

$ 542,691

$ 1,184,236

$ 1,084,489

Operating expenses:

Cost of revenues

^[1]

396,191

369,896

779,987

723,868

Selling and administrative expenses

^[1]

131,417

122,190

254,276

239,553

Depreciation and amortization

35,160

29,895

68,893

^[2]

56,940

^[2]

Total operating expenses

562,768

521,981

1,103,156

1,020,361

Operating income

27,943

20,710

81,080

64,128

Other (income) expense:

Interest income, net

(350)

(3,031)

(3,184)

(5,800)

Other expense, net

575

114

1,291

905

Total other expense (income), net

225

(2,917)

(1,893)

(4,895)

Income before income taxes

27,718

23,627

82,973

69,023

Provision for income taxes

7,261

5,817

20,191

17,256

Net income

$ 20,457

$ 17,810

$ 62,782

$ 51,767

Income per share – Diluted:

Common stock (in dollars per share)

$ 1.09

$ 0.95

$ 3.35

$ 2.76

Income allocated to – Basic:

Common stock

$ 20,457

$ 17,810

$ 62,782

$ 51,767

Income allocated to – Diluted:

Common Stock

$ 20,457

$ 17,810

$ 62,782

$ 51,767

Weighted average shares outstanding – Basic:

Common stock (in shares)

18,696

18,677

18,700

18,674

Weighted average shares outstanding – Diluted:

Common stock (in shares)

18,754

18,767

18,758

18,757

Common Stock

Income per share – Basic:

Common stock (in dollars per share)

$ 1.14

$ 0.99

$ 3.49

$ 2.88

Income per share – Diluted:

Common stock (in dollars per share)

$ 1.09

$ 0.95

$ 3.35

$ 2.76

Income allocated to – Basic:

Common stock

$ 17,188

$ 14,962

$ 52,754

$ 43,488

Weighted average shares outstanding – Basic:

Common stock (in shares)

15,106

15,087

15,110

15,084

Class B Common Stock

Income per share – Basic:

Common stock (in dollars per share)

$ 0.91

$ 0.79

$ 2.79

$ 2.31

Income allocated to – Basic:

Common stock

$ 3,269

$ 2,848

$ 10,028

$ 8,279

Weighted average shares outstanding – Basic:

Common stock (in shares)

3,590

[1]	Exclusive of depreciation on the Company’s property, plant and equipment and amortization on its intangible assets.
[2]	Depreciation and amortization for the twenty-six weeks ended February 24, 2024 and 2023 included approximately $9.2 million and $5.1 million, respectively, of non-cash amortization expense recognized on acquisition-related intangible assets.

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

Total

Common Shares

Class B Common Stock

Common Stock

Common Shares

Common Stock

Class B Common Stock

Capital Surplus

Retained Earnings

Common Shares

Retained Earnings

Class B Common Stock

Accumulated Other Comprehensive Loss

Balance at beginning of period at Aug. 27, 2022

$ 1,915,871

$ 1,508

$ 359

$ 93,131

$ 1,845,163

$ (24,290)

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

15,075

3,590

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

Net income

33,957

Change in fair value of derivatives

^[1]

Foreign currency translation

(1,778)

Dividends declared Common Stock

$ (4,680)

$ (890)

$ (4,680)

$ (890)

Share-based compensation, net

^[2]

(567)

Share-based awards exercised, net

^[1]

$ 1

Share-based awards exercised, net (in shares)

^[1]

Balance at end of period at Nov. 26, 2022

1,941,966

$ 1,509

$ 359

92,564

1,873,550

(26,016)

Balance at end of period (in shares) at Nov. 26, 2022

15,095

3,590

Balance at beginning of period at Aug. 27, 2022

1,915,871

$ 1,508

$ 359

93,131

1,845,163

(24,290)

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

15,075

3,590

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

Net income

51,767

Foreign currency translation

(3,251)

Balance at end of period at Feb. 25, 2023

1,955,088

$ 1,510

$ 359

94,861

1,885,788

(27,430)

Balance at end of period (in shares) at Feb. 25, 2023

15,103

3,590

Balance at beginning of period at Nov. 26, 2022

1,941,966

$ 1,509

$ 359

92,564

1,873,550

(26,016)

Balance at beginning of period (in shares) at Nov. 26, 2022

15,095

3,590

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

Net income

17,810

Change in fair value of derivatives

^[1]

Foreign currency translation

(1,473)

Dividends declared Common Stock

(4,682)

(890)

(4,682)

(890)

Share-based compensation, net

^[2]

2,297

Share-based awards exercised, net

^[1]

$ 1

Share-based awards exercised, net (in shares)

^[1]

Balance at end of period at Feb. 25, 2023

1,955,088

$ 1,510

$ 359

94,861

1,885,788

(27,430)

Balance at end of period (in shares) at Feb. 25, 2023

15,103

3,590

Balance at beginning of period at Aug. 26, 2023

2,003,960

$ 1,510

$ 359

99,303

1,926,549

(23,761)

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

15,104

3,590

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

Net income

42,325

Change in fair value of derivatives

^[1]

(12)

Foreign currency translation

(151)

Dividends declared Common Stock

(4,993)

(948)

(4,993)

(948)

Repurchase of Common Stock

(255)

(10)

(245)

Repurchase of common stock (in shares)

(2)

Share-based compensation, net

^[2]

244

Share-based awards exercised, net

^[1]

$ 3

Share-based awards exercised, net (in shares)

^[1]

Balance at end of period at Nov. 25, 2023

2,040,173

$ 1,513

$ 359

99,537

1,962,688

(23,924)

Balance at end of period (in shares) at Nov. 25, 2023

15,128

3,590

Balance at beginning of period at Aug. 26, 2023

2,003,960

$ 1,510

$ 359

99,303

1,926,549

(23,761)

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

15,104

3,590

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

Net income

62,782

Foreign currency translation

768

Balance at end of period at Feb. 24, 2024

2,049,685

$ 1,509

$ 359

101,197

1,969,659

(23,039)

Balance at end of period (in shares) at Feb. 24, 2024

15,087

3,590

Balance at beginning of period at Nov. 25, 2023

2,040,173

$ 1,513

$ 359

99,537

1,962,688

(23,924)

Balance at beginning of period (in shares) at Nov. 25, 2023

15,128

3,590

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

Net income

20,457

Change in fair value of derivatives

^[1]

(34)

Foreign currency translation

919

Dividends declared Common Stock

$ (4,976)

$ (948)

$ (4,976)

$ (948)

Repurchase of Common Stock

(7,864)

$ (4)

(298)

(7,562)

Repurchase of common stock (in shares)

(45)

Share-based compensation, net

^[2]

1,958

Share-based awards exercised, net (in shares)

^[1]

Balance at end of period at Feb. 24, 2024

$ 2,049,685

$ 1,509

$ 359

$ 101,197

$ 1,969,659

$ (23,039)

Balance at end of period (in shares) at Feb. 24, 2024

15,087

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.

Employee Benefit Plans - Narrative (Details) $ in Millions	3 Months Ended		6 Months Ended
Employee Benefit Plans - Narrative (Details) $ in Millions	Feb. 24, 2024 USD ($) RetirementPlan	Feb. 25, 2023 USD ($)	Feb. 24, 2024 USD ($) RetirementPlan	Feb. 25, 2023 USD ($)	Aug. 26, 2023 USD ($)
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Contributions charged to expense under the plan	$ 4.8	$ 4.1	$ 10.1	$ 9.9
SERP
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Number of frozen non-contributory defined benefit pension plans \| RetirementPlan	1		1
Amounts charged to expense related to the plans	$ 0.4	0.4	$ 0.8	0.9
Non-qualified Deferred Compensation Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Amounts charged to expense related to the plans	0.2	$ 0.1	0.4	$ 0.2
NQDC Plan assets	3.0		3.0		$ 2.0
NQDC Plan liabilities	$ 1.1		$ 1.1		$ 0.5

Income Per Share

6 Months Ended

Feb. 24, 2024

Earnings Per Share [Abstract]

Income Per Share

8. 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):


	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	February 24, 2024		February 25, 2023		February 24, 2024		February 25, 2023
Net income available to shareholders	$	20,457	$	17,810	$	62,782	$	51,767
Allocation of net income for Basic:
Common Stock	$	17,188	$	14,962	$	52,754	$	43,488
Class B Common Stock		3,269		2,848		10,028		8,279
	$	20,457	$	17,810	$	62,782	$	51,767
Weighted average number of shares for Basic:
Common Stock		15,106		15,087		15,110		15,084
Class B Common Stock		3,590		3,590		3,590		3,590
		18,696		18,677		18,700		18,674
Income per share for Basic:
Common Stock	$	1.14	$	0.99	$	3.49	$	2.88
Class B Common Stock	$	0.91	$	0.79	$	2.79	$	2.31

The Company is required to calculate 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 the thirteen and twenty-six weeks ended February 24, 2024 and February 25, 2023, the Company’s diluted income per share assumes the conversion of all vested Class B Common Stock into Common Stock and uses the two-class method for its unvested participating shares. The following tables set forth the computation of diluted income per share of Common Stock for the thirteen and twenty-six weeks ended February 24, 2024 and February 25, 2023 (in thousands, except per share data):


	Thirteen Weeks Ended February 24, 2024						Twenty-Six Weeks Ended February 24, 2024
	Earnings to Common Shareholders		Common Shares		Income Per Share		Earnings to Common Shareholders		Common Shares		Income Per Share
As reported - Basic	$	17,188		15,106	$	1.14	$	52,754		15,110	$	3.49
Add: effect of dilutive potential common shares
Share-Based Awards		—		58				—		58
Class B Common Stock		3,269		3,590				10,028		3,590
As reported – Diluted	$	20,457		18,754	$	1.09	$	62,782		18,758	$	3.35


	Thirteen Weeks Ended February 25, 2023						Twenty-Six Weeks Ended February 25, 2023
	Earnings to Common Shareholders		Common Shares		Income Per Share		Earnings to Common Shareholders		Common Shares		Income Per Share
As reported - Basic	$	14,962		15,087	$	0.99	$	43,488		15,084	$	2.88
Add: effect of dilutive potential common shares
Share-Based Awards		—		90				—		83
Class B Common Stock		2,848		3,590				8,279		3,590
As reported – Diluted	$	17,810		18,767	$	0.95	$	51,767		18,757	$	2.76

Share-based awards that would result in the issuance of 24,861 and 74,881 shares of Common Stock were excluded from the calculation of diluted income per share for the thirteen and twenty-six weeks ended February 24, 2024, respectively, because they were anti-dilutive. Share-based awards that would result in the issuance of 23,494 and 56,188 shares of Common Stock were excluded from the calculation of diluted income per share for the thirteen and twenty-six weeks ended February 25, 2023, respectively, because they were anti-dilutive.

Segment Reporting - Schedule of Segment Reporting Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 24, 2024	Feb. 25, 2023	Feb. 24, 2024	Feb. 25, 2023
Segment Reporting Information [Line Items]
Revenues	$ 590,711	$ 542,691	$ 1,184,236	$ 1,084,489
Operating income (loss)	27,943	20,710	81,080	64,128
Interest income, net	(350)	(3,031)	(3,184)	(5,800)
Other expense, net	575	114	1,291	905
Total consolidated other expense (income), net	225	(2,917)	(1,893)	(4,895)
Total consolidated income before income taxes	27,718	23,627	82,973	69,023
U.S. and Canadian Rental and Cleaning \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	507,602	463,803	1,018,544	926,627
Operating income (loss)	67,390	64,010	153,036	146,655
MFG \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	71,038	74,231	156,077	151,742
Operating income (loss)	19,547	22,252	44,488	45,554
MFG \| Net Interco MFG Elim
Segment Reporting Information [Line Items]
Revenues	(71,038)	(74,231)	(156,077)	(151,742)
Operating income (loss)	91	(6,008)	(4,390)	(12,791)
Corporate \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	14,818	13,247	27,865	27,821
Operating income (loss)	(67,982)	(66,612)	(131,997)	(131,945)
Subtotal Core Laundry Operations
Segment Reporting Information [Line Items]
Revenues	522,420	477,050	1,046,409	954,448
Operating income (loss)	19,046	13,642	61,137	47,473
Specialty Garments
Segment Reporting Information [Line Items]
Revenues	43,462	42,127	88,131	86,206
Specialty Garments \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	43,462	42,127	88,131	86,206
Operating income (loss)	9,901	8,045	22,018	18,228
First Aid
Segment Reporting Information [Line Items]
Revenues	24,829	23,514	49,696	43,835
First Aid \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	24,829	23,514	49,696	43,835
Operating income (loss)	$ (1,004)	$ (977)	$ (2,075)	$ (1,573)

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

3 Months Ended

6 Months Ended

Feb. 24, 2024

Feb. 25, 2023

Feb. 24, 2024

Feb. 25, 2023

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

Balance at beginning of period

$ 2,040,173

$ 1,941,966

$ 2,003,960

$ 1,915,871

Other comprehensive income (loss)

885

(1,414)

722

(3,140)

Balance at end of period

2,049,685

1,955,088

2,049,685

1,955,088

Foreign Currency Translation

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

Balance at beginning of period

(26,655)

(26,581)

(26,504)

(24,803)

Other comprehensive income (loss) before reclassification

919

(1,473)

768

(3,251)

Amounts reclassified from accumulated other comprehensive loss

Other comprehensive income (loss)

919

(1,473)

768

(3,251)

Balance at end of period

(25,736)

(28,054)

(25,736)

(28,054)

Balance at beginning of period

^[1]

2,582

452

2,582

452

Other comprehensive income (loss) before reclassification

^[1]

Amounts reclassified from accumulated other comprehensive loss

^[1]

Other comprehensive income (loss)

^[1]

Balance at end of period

^[1]

2,582

452

2,582

452

Derivative Financial Instruments

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

Balance at beginning of period

^[1]

149

113

161

Other comprehensive income (loss) before reclassification

^[1]

(14)

(2)

156

Amounts reclassified from accumulated other comprehensive loss

^[1]

(20)

(25)

(44)

(45)

Other comprehensive income (loss)

^[1]

(34)

(46)

111

Balance at end of period

^[1]

115

172

115

172

Accumulated Other Comprehensive Loss

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

Balance at beginning of period

(23,924)

(26,016)

(23,761)

(24,290)

Other comprehensive income (loss) before reclassification

905

(1,389)

766

(3,095)

Amounts reclassified from accumulated other comprehensive loss

(20)

(25)

(44)

(45)

Other comprehensive income (loss)

885

(1,414)

722

(3,140)

Balance at end of period

$ (23,039)

$ (27,430)

$ (23,039)

$ (27,430)

[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
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-12

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(19))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
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-Subparagraph (SX 210.6-05(4))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(4)(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(6))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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-Paragraph 3
-Subparagraph (SX 210.6-09(7))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
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-Name Accounting Standards Codification
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-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Section S99
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-Subparagraph (SX 210.5-02(31))
-Publisher FASB
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Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
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Reference 14: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 310
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-Name Accounting Standards Codification
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-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480418/310-10-S99-2

+ Details

Consolidated Statements of Cash Flows (Unaudited) - Parenthetical - USD ($) $ in Millions	6 Months Ended
	Feb. 24, 2024	Feb. 25, 2023
Statement of Cash Flows [Abstract]
Non-cash amortization expense	$ 9.2	$ 5.1

Income Per Share - Narrative (Details) - shares	3 Months Ended		6 Months Ended
Income Per Share - Narrative (Details) - shares	Feb. 24, 2024	Feb. 25, 2023	Feb. 24, 2024	Feb. 25, 2023
Earnings Per Share [Abstract]
Anti-dilutive securities excluded from calculation of diluted earnings per share (in shares)	24,861	23,494	74,881	56,188

Asset Retirement Obligations - Narrative (Details)	6 Months Ended
Asset Retirement Obligations - Narrative (Details)	Feb. 24, 2024
Asset Retirement Obligations [Line Items]
Estimated impact of inflation per year	3.00%
Minimum
Asset Retirement Obligations [Line Items]
Remaining lives	1 year
Maximum
Asset Retirement Obligations [Line Items]
Remaining lives	21 years

Asset Retirement Obligations (Tables)

6 Months Ended

Feb. 24, 2024

Asset Retirement Obligation Disclosure [Abstract]

Rollforward of Asset Retirement Liability

A reconciliation of the Company’s asset retirement liability for the twenty-six weeks ended February 24, 2024 was as follows (in thousands):


	February 24, 2024
Balance as of August 26, 2023	$	16,471
Accretion expense		467
Effect of exchange rate changes		13
Balance as of February 24, 2024	$	16,951

Segment Reporting

6 Months Ended

Feb. 24, 2024

Segment Reporting [Abstract]

Segment Reporting

16. 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, Manufacturing (“MFG”), Corporate, Specialty Garments and First Aid. 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 other non-garment items utilized at the customer locations 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 some of the other 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. No assets or capital expenditures 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 operating income 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.

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 table (in thousands):


	Thirteen Weeks Ended						Twenty-Six Weeks Ended
	February 24, 2024			February 25, 2023			February 24, 2024			February 25, 2023
Revenues:
U.S. and Canadian Rental and Cleaning	$	507,602		$	463,803		$	1,018,544		$	926,627
MFG		71,038			74,231			156,077			151,742
Net intercompany MFG elimination		(71,038	)		(74,231	)		(156,077	)		(151,742	)
Corporate		14,818			13,247			27,865			27,821
Subtotal: Core Laundry Operations		522,420			477,050			1,046,409			954,448
Specialty Garments		43,462			42,127			88,131			86,206
First Aid		24,829			23,514			49,696			43,835
Total consolidated revenues	$	590,711		$	542,691		$	1,184,236		$	1,084,489

Operating income (loss):
U.S. and Canadian Rental and Cleaning	$	67,390		$	64,010		$	153,036		$	146,655
MFG		19,547			22,252			44,488			45,554
Net intercompany MFG elimination		91			(6,008	)		(4,390	)		(12,791	)
Corporate		(67,982	)		(66,612	)		(131,997	)		(131,945	)
Subtotal: Core Laundry Operations		19,046			13,642			61,137			47,473
Specialty Garments		9,901			8,045			22,018			18,228
First Aid		(1,004	)		(977	)		(2,075	)		(1,573	)
Total consolidated operating income	$	27,943		$	20,710		$	81,080		$	64,128

Other expense (income):
Interest income, net	$	(350	)	$	(3,031	)	$	(3,184	)	$	(5,800	)
Other expense, net		575			114			1,291			905
Total consolidated other expense (income), net	$	225		$	(2,917	)	$	(1,893	)	$	(4,895	)
Total consolidated income before income taxes	$	27,718		$	23,627		$	82,973		$	69,023

- 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
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-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
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-Section 50
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-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
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-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
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-Name Accounting Standards Codification
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-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
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Subparagraph (a)
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 21
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-Publisher FASB
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
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-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Acquisitions - Schedule of Preliminary Purchase Price Allocation (Details) - Clean Holdco, Inc. $ in Thousands	May 27, 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

Income Taxes

6 Months Ended

Feb. 24, 2024

Income Tax Disclosure [Abstract]

Income Taxes

13. Income Taxes

In accordance with ASC 740, Income Taxes (“ASC 740”), each interim period is considered integral to the annual period and tax expense is measured using an estimated annual effective tax rate. An entity is required to record income tax expense each quarter based on its annual effective tax rate estimated for the full fiscal year and use that rate to provide for income taxes on a current year-to-date basis, adjusted for discrete taxable events that occur during the interim period.

Effective tax rate

The Company’s effective tax rate for the thirteen weeks ended February 24, 2024 was 26.2% as compared to 24.6% for the corresponding period in the prior year. The Company’s effective tax rate for the twenty-six weeks ended February 24, 2024 was 24.3% as compared to 25.0% for the corresponding period in the prior year. The increase in the effective tax rate for the thirteen weeks ended February 24, 2024 was due primarily to increases in non-deductible expenses in the current period as compared to the corresponding period in the prior year. The decrease in the effective tax rate for the twenty-six weeks ended February 24, 2024 was due primarily to the release of certain tax reserves and a U.S. state legislative change enacted during the first quarter of fiscal 2024.

Uncertain tax positions

The Company recognizes 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. During the twenty-six weeks ended February 24, 2024, there was a net increase in unrecognized tax position of $0.2 million related to existing reserves.

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 2019 and 2016, 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
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Name Accounting Standards Codification
-Section S99
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 740
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-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

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-Topic 740
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-Section 50
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-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Feb. 24, 2024	Nov. 25, 2023	Feb. 25, 2023	Nov. 26, 2022	Feb. 24, 2024	Feb. 25, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 20,457	$ 42,325	$ 17,810	$ 33,957	$ 62,782	$ 51,767

- 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

Revenue Recognition - Schedule of Total Revenue Disaggregated by Service Type (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 24, 2024	Feb. 25, 2023	Feb. 24, 2024	Feb. 25, 2023
Disaggregation of Revenue [Line Items]
Total revenues	$ 590,711	$ 542,691	$ 1,184,236	$ 1,084,489
Revenue \| Revenues
Disaggregation of Revenue [Line Items]
Percentage of revenues	100.00%	100.00%	100.00%	100.00%
Core Laundry Operations
Disaggregation of Revenue [Line Items]
Total revenues	$ 522,420	$ 477,050	$ 1,046,409	$ 954,448
Core Laundry Operations \| Revenue \| Revenues
Disaggregation of Revenue [Line Items]
Percentage of revenues	88.40%	87.90%	88.40%	88.00%
Specialty Garments
Disaggregation of Revenue [Line Items]
Total revenues	$ 43,462	$ 42,127	$ 88,131	$ 86,206
Specialty Garments \| Revenue \| Revenues
Disaggregation of Revenue [Line Items]
Percentage of revenues	7.40%	7.80%	7.40%	8.00%
First Aid
Disaggregation of Revenue [Line Items]
Total revenues	$ 24,829	$ 23,514	$ 49,696	$ 43,835
First Aid \| Revenue \| Revenues
Disaggregation of Revenue [Line Items]
Percentage of revenues	4.20%	4.30%	4.20%	4.00%

- 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

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)
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+ Details

Goodwill and Other Intangible Assets - Schedule of Intangible Assets, Net (Details) - USD ($) $ in Thousands	Feb. 24, 2024	Aug. 26, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 436,166	$ 439,584
Accumulated Amortization	303,688	293,966
Net Carrying Amount	132,478	145,618
Customer Contracts
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	314,566	315,448
Accumulated Amortization	220,231	211,996
Net Carrying Amount	94,335	103,452
Software
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	81,768	80,538
Accumulated Amortization	48,217	45,117
Net Carrying Amount	33,551	35,421
Other Intangible Assets
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	39,832	43,598
Accumulated Amortization	35,240	36,853
Net Carrying Amount	$ 4,592	$ 6,745

Fair Value Measurements - Narrative (Details)	6 Months Ended
Fair Value Measurements - Narrative (Details)	Feb. 24, 2024
UniFirst Plan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Minimum annual interest rate	3.25%

Goodwill and Other Intangible Assets - Schedule of Changes in Carrying Amount of Goodwill (Details) $ in Thousands	6 Months Ended
	Feb. 24, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Beginning balance	$ 647,900
Purchase price adjustments recorded during the period	900
Other	29
Ending balance	$ 648,829

- 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

Commitments and Contingencies

6 Months Ended

Feb. 24, 2024

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

12. 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 Sheets 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 the twenty-six weeks ended February 24, 2024:


(In thousands, except lease term and discount rate)
Lease cost:
Operating lease costs including short-term lease expense and variable lease costs, which were immaterial in the period	$	13,209

Operating cash flow impacts:
Cash paid for amounts included in the measurement of operating lease liabilities	$	10,234
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities	$	15,525
Weighted-average remaining lease term - operating leases		5.15
Weighted-average discount rate - operating leases		4.27	%

The contractual future minimum lease payments of the Company’s operating lease liabilities by fiscal year as of February 24, 2024 are as follows (in thousands):


2024 (remaining six months)	$	11,389
2025		18,672
2026		15,745
2027		12,104
2028		8,579
Thereafter		12,924
Total payments		79,413
Less interest		(7,635	)
Total present value of lease payments	$	71,778

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, waste water 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 wastewater 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, is party to a consent decree related to the Company’s property and parcels of land (the “Central Area”) at a site in Woburn, Massachusetts. The United States Environmental Protection Agency (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, together with 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 continues 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 local 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 February 24, 2024, the risk-free interest rates utilized by the Company ranged from 4.37% to 4.51%.

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 the twenty-six weeks ended February 24, 2024 were as follows (in thousands):


	February 24, 2024
Balance as of August 26, 2023	$	30,029
Costs incurred for which reserves have been provided		(1,393	)
Insurance proceeds		106
Interest accretion		632
Changes in discount rates		(120	)
Revisions in estimates		722
Balance as of February 24, 2024	$	29,976

Anticipated payments and insurance proceeds of currently identified environmental remediation liabilities as of February 24, 2024, for the next five fiscal years and thereafter, as measured in current dollars, are reflected below.


(In thousands)	2024			2025			2026			2027			2028			Thereafter			Total
Estimated costs – current dollars	$	13,517		$	2,651		$	1,442		$	1,270		$	972		$	14,617		$	34,469
Estimated insurance proceeds		(180	)		(195	)		(159	)		(173	)		(9	)		(230	)		(946	)
Net anticipated costs	$	13,337		$	2,456		$	1,283		$	1,097		$	963		$	14,387		$	33,523
Effect of inflation																				9,856
Effect of discounting																				(13,403	)
Balance as of February 24, 2024																			$	29,976

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 in Williamstown, Vermont. 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 February 24, 2024, 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 but not limited to, 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.

Long-Term Debt - Narrative (Details) - Revolving Credit Facility - Credit Agreement - USD ($)			6 Months Ended
	Mar. 09, 2023	Mar. 26, 2021	Feb. 24, 2024
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 275,000,000	$ 175,000,000
Additional commitments amount in maximum borrowing capacity	375,000,000
Maturity date		Mar. 26, 2026
Outstanding borrowings			$ 0
Outstanding letters of credit			62,400,000
Amount available for borrowing			$ 212,600,000
Increases in aggregate commitments	100,000,000
Maximum additional amount increases in aggregate commitments	$ 100,000,000
SOFR
Debt Instrument [Line Items]
Basis spread on variable rate (as percent)			1.00%

Consolidated Statements of Shareholders' Equity (Unaudited) - Parenthetical - $ / shares			3 Months Ended
	Oct. 24, 2023	Oct. 25, 2022	Feb. 24, 2024	Nov. 25, 2023	Feb. 25, 2023	Nov. 26, 2022
Common Shares
Dividends declared (in dollars per share)	$ 0.33	$ 0.31	$ 0.33	$ 0.33	$ 0.31	$ 0.31
Class B Common Stock
Dividends declared (in dollars per share)	$ 0.264	$ 0.248	$ 0.264	$ 0.264	$ 0.248	$ 0.248

Fair Value Measurements - Schedule of Assets or Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Feb. 24, 2024	Aug. 26, 2023
Assets:
Short-term investments	$ 11,392	$ 10,157
Fair Value, Measurements, Recurring
Assets:
Short-term investments	11,392	10,157
Pension plan assets	2,925	2,978
Non-qualified deferred compensation plan assets	3,015	2,024
Foreign currency forward contracts	154	216
Total assets at fair value	17,486	15,375
Liabilities:
Non-qualified deferred compensation plan liability	1,108	480
Total liabilities at fair value	1,108	480
Fair Value, Measurements, Recurring \| Level 1
Assets:
Short-term investments	0	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
Fair Value, Measurements, Recurring \| Level 2
Assets:
Short-term investments	11,392	10,157
Pension plan assets	2,925	2,978
Non-qualified deferred compensation plan assets	3,015	2,024
Foreign currency forward contracts	154	216
Total assets at fair value	17,486	15,375
Liabilities:
Non-qualified deferred compensation plan liability	1,108	480
Total liabilities at fair value	1,108	480
Fair Value, Measurements, Recurring \| Level 3
Assets:
Short-term investments	0	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

Commitments and Contingencies - Schedule of Operating Lease Cost and Information Related to Operating Lease Right-of-use Assets, Net and Operating Lease Liabilities (Details) $ in Thousands	6 Months Ended
	Feb. 24, 2024 USD ($)
Lease cost
Operating lease costs including short-term lease expense and variable lease costs, which were immaterial in the period	$ 13,209
Operating cash flow impacts
Cash paid for amounts included in the measurement of operating lease liabilities	10,234
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities	$ 15,525
Weighted-average remaining lease term - operating leases	5 years 1 month 24 days
Weighted-average discount rate - operating leases	4.27%

Asset Retirement Obligations - Rollforward of Asset Retirement Liability (Details) - USD ($) $ in Thousands	6 Months Ended
	Feb. 24, 2024	Feb. 25, 2023
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Beginning balance	$ 16,471
Accretion expense	467	$ 458
Effect of exchange rate changes	13
Ending balance	$ 16,951

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Feb. 24, 2024 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On January 26, 2024, Michael Croatti, Executive Vice President, Operations of the Company, adopted a trading arrangement for the sale of the Company’s Common Stock (the “Rule 10b5-1 Trading Plan”) 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 December 31, 2024, provides for the sale of up to 1,800 shares of Common Stock pursuant to its terms.
Name	Michael Croatti
Title	Executive Vice President
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	January 26, 2024
Aggregate Available	1,800
Expiration Date	Dec. 31, 2024

Inventories (Tables)

6 Months Ended

Feb. 24, 2024

Inventory Disclosure [Abstract]

Schedule of Components of Inventory

The components of inventory as of February 24, 2024 and August 26, 2023 were as follows (in thousands):


	February 24, 2024		August 26, 2023
Raw materials	$	20,567	$	25,147
Work in process		3,829		4,444
Finished goods		133,883		118,743
Total inventories	$	158,279	$	148,334

Acquisitions (Tables) - Clean Holdco, Inc.

6 Months Ended

Feb. 24, 2024

Business Acquisition [Line Items]

Schedule of Preliminary Purchase Price Allocation

The final 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:


	Estimated Fair Value (in thousands)		Weighted-Average Life (in years)
Goodwill	$	187,733	N/A
Customer contracts		64,800		15.0
Trade name		5,300		3.0
Total intangible assets and goodwill acquired	$	257,833

Derivative Instruments and Hedging Activities - Narrative (Details) $ in Thousands, $ in Millions	Feb. 24, 2024 CAD ($)	Feb. 24, 2024 USD ($)	Aug. 26, 2023 USD ($)	Aug. 31, 2021 CAD ($) Contract
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount reclassified from accumulated other comprehensive loss		$ (23,039)	$ (23,761)
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)	$ 4.5			$ 14.1
Fair value of the contracts		200
Amount reclassified from accumulated other comprehensive loss		$ 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

Income Per Share (Tables)

6 Months Ended

Feb. 24, 2024

Earnings Per Share [Abstract]

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):


	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	February 24, 2024		February 25, 2023		February 24, 2024		February 25, 2023
Net income available to shareholders	$	20,457	$	17,810	$	62,782	$	51,767
Allocation of net income for Basic:
Common Stock	$	17,188	$	14,962	$	52,754	$	43,488
Class B Common Stock		3,269		2,848		10,028		8,279
	$	20,457	$	17,810	$	62,782	$	51,767
Weighted average number of shares for Basic:
Common Stock		15,106		15,087		15,110		15,084
Class B Common Stock		3,590		3,590		3,590		3,590
		18,696		18,677		18,700		18,674
Income per share for Basic:
Common Stock	$	1.14	$	0.99	$	3.49	$	2.88
Class B Common Stock	$	0.91	$	0.79	$	2.79	$	2.31

Schedule of Computation of Diluted Income Per Share

The following tables set forth the computation of diluted income per share of Common Stock for the thirteen and twenty-six weeks ended February 24, 2024 and February 25, 2023 (in thousands, except per share data):


	Thirteen Weeks Ended February 24, 2024						Twenty-Six Weeks Ended February 24, 2024
	Earnings to Common Shareholders		Common Shares		Income Per Share		Earnings to Common Shareholders		Common Shares		Income Per Share
As reported - Basic	$	17,188		15,106	$	1.14	$	52,754		15,110	$	3.49
Add: effect of dilutive potential common shares
Share-Based Awards		—		58				—		58
Class B Common Stock		3,269		3,590				10,028		3,590
As reported – Diluted	$	20,457		18,754	$	1.09	$	62,782		18,758	$	3.35


	Thirteen Weeks Ended February 25, 2023						Twenty-Six Weeks Ended February 25, 2023
	Earnings to Common Shareholders		Common Shares		Income Per Share		Earnings to Common Shareholders		Common Shares		Income Per Share
As reported - Basic	$	14,962		15,087	$	0.99	$	43,488		15,084	$	2.88
Add: effect of dilutive potential common shares
Share-Based Awards		—		90				—		83
Class B Common Stock		2,848		3,590				8,279		3,590
As reported – Diluted	$	17,810		18,767	$	0.95	$	51,767		18,757	$	2.76

Derivative Instruments and Hedging Activities

6 Months Ended

Feb. 24, 2024

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 February 24, 2024, the Company had forward contracts with a notional value of approximately 4.5 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 $0.1 million in accumulated other comprehensive loss, which was recorded net of tax. During the thirteen and twenty-six weeks ended February 24, 2024, the Company reclassified a nominal amount from accumulated other comprehensive loss to revenue related to the derivative financial instruments. The gain on these forward contracts that resulted in a decrease to accumulated other comprehensive loss as of February 24, 2024 is expected to be reclassified to revenues prior to their maturity on August 29, 2026.

Commitments and Contingencies - Changes to Environmental Liabilities (Details) - USD ($) $ in Thousands	6 Months Ended
	Feb. 24, 2024	Feb. 25, 2023
Accrual for Environmental Loss Contingencies [Roll Forward]
Beginning balance	$ 30,029
Costs incurred for which reserves have been provided	(1,393)
Insurance proceeds	106
Interest accretion	632	$ 518
Changes in discount rates	(120)
Revisions in estimates	722
Ending balance	$ 29,976
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration]	Accounts Payable and Accrued Liabilities, Noncurrent

Consolidated Balance Sheets (Unaudited) - Parenthetical - USD ($) $ in Thousands	Feb. 24, 2024	Aug. 26, 2023
Receivables, reserves	$ 21,978	$ 17,185
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)	15,086,572	15,104,317
Common stock, shares outstanding (in shares)	15,086,572	15,104,317
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

Commitments and Contingencies - Schedule of Contractual Future Minimum Lease Payments of Operating Lease Liabilities (Details) $ in Thousands	Feb. 24, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2024 (remaining six months)	$ 11,389
2025	18,672
2026	15,745
2027	12,104
2028	8,579
Thereafter	12,924
Total payments	79,413
Less interest	(7,635)
Total present value of lease payments	$ 71,778

Acquisitions - Narrative (Details) $ in Millions	3 Months Ended		6 Months Ended	12 Months Ended
Acquisitions - Narrative (Details) $ in Millions	May 27, 2023 USD ($)	Feb. 25, 2023 USD ($)	Feb. 25, 2023 USD ($)	Aug. 26, 2023 USD ($) Business
Aggregate Information Relating to Acquisition of Businesses
Business Acquisition [Line Items]
Number of business acquired \| Business				4
Business acquisitions, aggregate purchase price				$ 7.1
Clean Holdco, Inc.
Business Acquisition [Line Items]
Business acquisitions, aggregate purchase price	$ 299.1
Business combination, Difference of cash paid and total purchase price amount	302.4
Business combination estimated value of incremental tax benefits	$ 40.0
Unaudited pro forma revenue		$ 565.5	$ 1,100.0

Revenue Recognition (Tables)

6 Months Ended

Feb. 24, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Total Revenue Disaggregated by Service Type

The following table presents the Company’s revenues for the thirteen and twenty-six weeks ended February 24, 2024 and February 25, 2023, respectively, disaggregated by service type:


	Thirteen Weeks Ended										Twenty-Six Weeks Ended
	February 24, 2024					February 25, 2023					February 24, 2024					February 25, 2023
(In thousands, except percentages)	Revenues		% of Revenues			Revenues		% of Revenues			Revenues		% of Revenues			Revenues		% of Revenues
Core Laundry Operations	$	522,420		88.4	%	$	477,050		87.9	%	$	1,046,409		88.4	%	$	954,448		88.0	%
Specialty Garments		43,462		7.4	%		42,127		7.8	%		88,131		7.4	%		86,206		8.0	%
First Aid		24,829		4.2	%		23,514		4.3	%		49,696		4.2	%		43,835		4.0	%
Total revenues	$	590,711		100.0	%	$	542,691		100.0	%	$	1,184,236		100.0	%	$	1,084,489		100.0	%

Shares Repurchased and Dividends

6 Months Ended

Feb. 24, 2024

Equity [Abstract]

Shares Repurchased and Dividends

17. Shares Repurchased and Dividends

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 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 from time to time 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 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 the thirteen and twenty-six weeks ended February 24, 2024, the Company repurchased 45,250 and 46,750 shares, respectively, for an average price per share of $173.79 and $173.67, respectively, under the share repurchase program. During the thirteen and twenty-six weeks ended February 25, 2023, the Company did not repurchase any shares. As of February 24, 2024, the Company had $91.9 million remaining to repurchase shares under the share repurchase program.

- 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
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Paragraph 14
-Subparagraph (b)
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (a)
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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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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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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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
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

+ Details

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

6 Months Ended

Feb. 24, 2024

Feb. 25, 2023

Cash flows from operating activities:

Net income

$ 62,782

$ 51,767

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

Depreciation and amortization

^[1]

68,893

56,940

Share-based compensation

4,842

4,533

Accretion on environmental contingencies

632

518

Accretion on asset retirement obligations

467

458

Deferred income taxes

897

1,080

Other

963

119

Changes in assets and liabilities, net of acquisitions:

Receivables, less reserves

(12,574)

(27,636)

Inventories

(9,935)

683

Rental merchandise in service

7,127

(13,592)

Prepaid expenses and other current assets and Other assets

(14,036)

(4,459)

Accounts payable

(8,035)

(900)

Accrued liabilities

(6,205)

(17,072)

Prepaid and accrued income taxes

10,907

11,730

Net cash provided by operating activities

106,725

64,169

Cash flows from investing activities:

Acquisition of businesses, net of cash acquired

(7,059)

Capital expenditures, including capitalization of software costs

(72,902)

(74,847)

Purchases of investments

(11,394)

(107,000)

Maturities of investments

10,217

6,000

Proceeds from sale of assets

632

345

Net cash used in investing activities

(73,447)

(182,561)

Cash flows from financing activities:

Proceeds from exercise of share-based awards

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

(2,638)

(2,802)

Repurchase of Common Stock

(8,119)

Payment of cash dividends

(11,512)

(10,954)

Net cash used in financing activities

(22,266)

(13,753)

Effect of exchange rate changes

(156)

Net increase (decrease) in cash and cash equivalents

11,095

(132,301)

Cash and cash equivalents at beginning of period

79,443

376,399

Cash and cash equivalents at end of period

90,538

244,098

Supplemental disclosure of cash flow information:

Non-cash capital expenditures

$ 8,928

$ 8,250

[1]	Depreciation and amortization for the twenty-six weeks ended February 24, 2024 and 2023 included approximately $9.2 million and $5.1 million, respectively, of non-cash amortization expense recognized on acquisition-related intangible assets.

Commitments and Contingencies - Anticipated Payments and Insurance Proceeds of Identified Environmental Remediation Liabilities (Details) - USD ($) $ in Thousands	Feb. 24, 2024	Aug. 26, 2023
Estimated costs – current dollars
2024	$ 13,517
2025	2,651
2026	1,442
2027	1,270
2028	972
Thereafter	14,617
Total	34,469
Estimated insurance proceeds
2024	(180)
2025	(195)
2026	(159)
2027	(173)
2028	(9)
Thereafter	(230)
Total	(946)
Net anticipated costs
2024	13,337
2025	2,456
2026	1,283
2027	1,097
2028	963
Thereafter	14,387
Total	33,523
Effect of inflation	9,856
Effect of discounting	(13,403)
Balance at end of period	$ 29,976	$ 30,029

Related Party

6 Months Ended

Feb. 24, 2024

Related Party

18. Related Party

During the thirteen and twenty-six weeks ended February 24, 2024, the Company recorded $0.8 million and $2.1 million of expense, respectively, with a company for which one member of the Company’s Board of Directors was an executive officer for a portion of such periods. During the thirteen and twenty-six weeks ended February 25, 2023, the Company recorded $0.7 million and $1.6 million of expense, respectively, with a company for which one member of the Company’s Board of Directors was an executive officer for such periods. The amount of revenue recognized from business with the related party was a nominal amount during both the thirteen and twenty-six weeks ended February 24, 2024 and February 25, 2023.

- 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
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-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
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-6

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

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

+ Details

Goodwill and Other Intangible Assets

6 Months Ended

Feb. 24, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

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


Balance as of August 26, 2023	$	647,900
Purchase price adjustments recorded during the period		900
Other		29
Balance as of February 24, 2024	$	648,829

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


	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
February 24, 2024
Customer contracts	$	314,566	$	220,231	$	94,335
Software		81,768		48,217		33,551
Other intangible assets		39,832		35,240		4,592
	$	436,166	$	303,688	$	132,478

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

Inventories

6 Months Ended

Feb. 24, 2024

Inventory Disclosure [Abstract]

Inventories

9. Inventories

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 February 24, 2024 and August 26, 2023 were as follows (in thousands):


	February 24, 2024		August 26, 2023
Raw materials	$	20,567	$	25,147
Work in process		3,829		4,444
Finished goods		133,883		118,743
Total inventories	$	158,279	$	148,334

Shares Repurchased and Dividends - Narrative (Details) - USD ($)			3 Months Ended				6 Months Ended
	Oct. 24, 2023	Oct. 25, 2022	Feb. 24, 2024	Nov. 25, 2023	Feb. 25, 2023	Nov. 26, 2022	Feb. 24, 2024	Feb. 25, 2023
Equity, Class of Treasury Stock [Line Items]
Shares repurchased (in shares)			45,250		0		46,750	0
Total cost of shares repurchased divided by the total number of shares repurchased			$ 173.79				$ 173.67
Stock repurchase, remaining to repurchase outstanding shares value			$ 91,900,000				$ 91,900,000
Maximum
Equity, Class of Treasury Stock [Line Items]
Stock repurchase authorized, Value	$ 100,000,000
Class B Common Stock
Equity, Class of Treasury Stock [Line Items]
Quarterly dividend amount (in dollars per share)	$ 0.264	$ 0.248	$ 0.264	$ 0.264	$ 0.248	$ 0.248
Common Stock
Equity, Class of Treasury Stock [Line Items]
Quarterly dividend amount (in dollars per share)	$ 0.33	$ 0.31	$ 0.33	$ 0.33	$ 0.31	$ 0.31

- Definition

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Feb. 24, 2024	Mar. 28, 2024
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Feb. 24, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity Registrant Name	UNIFIRST CORPORATION
Entity Central Index Key	0000717954
Current Fiscal Year End Date	--08-27
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 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
Document Quarterly Report	true
Document Transition Report	false
Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		15,068,056
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		3,590,295

Segment Reporting (Tables)

6 Months Ended

Feb. 24, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information


	Thirteen Weeks Ended						Twenty-Six Weeks Ended
	February 24, 2024			February 25, 2023			February 24, 2024			February 25, 2023
Revenues:
U.S. and Canadian Rental and Cleaning	$	507,602		$	463,803		$	1,018,544		$	926,627
MFG		71,038			74,231			156,077			151,742
Net intercompany MFG elimination		(71,038	)		(74,231	)		(156,077	)		(151,742	)
Corporate		14,818			13,247			27,865			27,821
Subtotal: Core Laundry Operations		522,420			477,050			1,046,409			954,448
Specialty Garments		43,462			42,127			88,131			86,206
First Aid		24,829			23,514			49,696			43,835
Total consolidated revenues	$	590,711		$	542,691		$	1,184,236		$	1,084,489

Operating income (loss):
U.S. and Canadian Rental and Cleaning	$	67,390		$	64,010		$	153,036		$	146,655
MFG		19,547			22,252			44,488			45,554
Net intercompany MFG elimination		91			(6,008	)		(4,390	)		(12,791	)
Corporate		(67,982	)		(66,612	)		(131,997	)		(131,945	)
Subtotal: Core Laundry Operations		19,046			13,642			61,137			47,473
Specialty Garments		9,901			8,045			22,018			18,228
First Aid		(1,004	)		(977	)		(2,075	)		(1,573	)
Total consolidated operating income	$	27,943		$	20,710		$	81,080		$	64,128

Other expense (income):
Interest income, net	$	(350	)	$	(3,031	)	$	(3,184	)	$	(5,800	)
Other expense, net		575			114			1,291			905
Total consolidated other expense (income), net	$	225		$	(2,917	)	$	(1,893	)	$	(4,895	)
Total consolidated income before income taxes	$	27,718		$	23,627		$	82,973		$	69,023

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 24, 2024	Feb. 25, 2023	Feb. 24, 2024	Feb. 25, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 20,457	$ 17,810	$ 62,782	$ 51,767
Other comprehensive income (loss):
Foreign currency translation adjustments	919	(1,473)	768	(3,251)
Change in fair value of derivatives, net of income taxes	(34)	59	(46)	111
Other comprehensive income (loss)	885	(1,414)	722	(3,140)
Comprehensive income	$ 21,342	$ 16,396	$ 63,504	$ 48,627

- Definition

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

+ References

+ Details

Acquisitions - Summary of Allocation of Purchase Price to Intangible Assets and Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended
	May 27, 2023	Feb. 24, 2024	Aug. 26, 2023
Business Acquisition [Line Items]
Goodwill		$ 648,829	$ 647,900
Clean Holdco, Inc.
Business Acquisition [Line Items]
Goodwill	$ 187,733
Customer contracts	64,800
Total intangible assets and goodwill acquired	$ 257,833
Clean Holdco, Inc. \| Customer Contracts
Business Acquisition [Line Items]
Weighted average life	15 years
Clean Holdco, Inc. \| Trade Name
Business Acquisition [Line Items]
Trade name	$ 5,300
Weighted average life	3 years

- Definition

+ References + Details

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Feb. 24, 2024	Aug. 26, 2023
Current assets:
Cash and cash equivalents	$ 90,538	$ 79,443
Short-term investments	11,392	10,157
Receivables, less reserves of $21,978 and $17,185	291,784	279,078
Inventories	158,279	148,334
Rental merchandise in service	241,340	248,323
Prepaid taxes	9,563	20,907
Prepaid expenses and other current assets	61,582	53,876
Total current assets	864,478	840,118
Property, plant and equipment, net	772,223	756,540
Goodwill	648,829	647,900
Customer contracts, net	94,335	103,452
Other intangible assets, net	38,143	42,166
Deferred income taxes	617	567
Operating lease right-of-use assets, net	69,726	62,565
Other assets	132,602	116,667
Total assets	2,620,953	2,569,975
Current liabilities:
Accounts payable	86,318	92,730
Accrued liabilities	158,478	156,408
Accrued taxes	0	352
Operating lease liabilities, current	18,068	17,739
Total current liabilities	262,864	267,229
Accrued liabilities	123,446	121,682
Accrued and deferred income taxes	131,248	130,084
Operating lease liabilities	53,710	47,020
Total liabilities	571,268	566,015
Commitments and contingencies (Note 12)
Shareholders’ equity:
Preferred Stock, $1.00 par value; 2,000,000 shares authorized; no shares issued and outstanding	0	0
Capital surplus	101,197	99,303
Retained earnings	1,969,659	1,926,549
Accumulated other comprehensive loss	(23,039)	(23,761)
Total shareholders’ equity	2,049,685	2,003,960
Total liabilities and shareholders’ equity	2,620,953	2,569,975
Common Stock
Shareholders’ equity:
Common Stock	1,509	1,510
Class B Common Stock
Shareholders’ equity:
Common Stock	$ 359	$ 359

Income Per Share - Schedule of Computation of Diluted Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 24, 2024	Feb. 25, 2023	Feb. 24, 2024	Feb. 25, 2023
Earnings Per Share Diluted [Line Items]
As reported - Basic	$ 20,457	$ 17,810	$ 62,782	$ 51,767
As reported - Basic (in shares)	18,696	18,677	18,700	18,674
As reported - Diluted	$ 20,457	$ 17,810	$ 62,782	$ 51,767
As reported - Diluted (in shares)	18,754	18,767	18,758	18,757
As reported - Diluted (in dollars per share)	$ 1.09	$ 0.95	$ 3.35	$ 2.76
Common Stock
Earnings Per Share Diluted [Line Items]
As reported - Basic	$ 17,188	$ 14,962	$ 52,754	$ 43,488
As reported - Basic (in shares)	15,106	15,087	15,110	15,084
As reported - Basic (in dollars per share)	$ 1.14	$ 0.99	$ 3.49	$ 2.88
Add: effect of dilutive potential common shares	$ 0	$ 0	$ 0	$ 0
Add: effect of dilutive potential common shares (in shares)	58	90	58	83
As reported - Diluted (in dollars per share)	$ 1.09	$ 0.95	$ 3.35	$ 2.76
Class B Common Stock
Earnings Per Share Diluted [Line Items]
As reported - Basic	$ 3,269	$ 2,848	$ 10,028	$ 8,279
As reported - Basic (in shares)	3,590	3,590	3,590	3,590
As reported - Basic (in dollars per share)	$ 0.91	$ 0.79	$ 2.79	$ 2.31

Basis of Presentation

6 Months Ended

Feb. 24, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation

1. Basis of Presentation

These Consolidated Financial Statements of UniFirst Corporation (the “Company”) included herein have been prepared, without audit, 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 (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations; however, the Company believes that the information furnished reflects all adjustments (consisting only of normal recurring adjustments) which are, in the opinion of management, necessary for a fair statement of results for the interim period.

It is suggested that these Consolidated Financial Statements be read in conjunction with the consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended August 26, 2023. There have been no material changes in the accounting policies followed by the Company during the current fiscal year other than with respect to the recent accounting pronouncements discussed in Note 2, “Recent Accounting Pronouncements”. Results for an interim period are not indicative of any future interim periods or for an entire fiscal year.

Inventories - Schedule of Components of Inventory (Details) - USD ($) $ in Thousands	Feb. 24, 2024	Aug. 26, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 20,567	$ 25,147
Work in process	3,829	4,444
Finished goods	133,883	118,743
Total inventories	$ 158,279	$ 148,334

Segment Reporting - Narrative (Details)	6 Months Ended
Segment Reporting - Narrative (Details)	Feb. 24, 2024 Segment
Segment Reporting [Abstract]
Number of operating segments	6
Number of reporting segments	5

Fair Value Measurements

6 Months Ended

Feb. 24, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurements

5. 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):


	February 24, 2024
	Level 1		Level 2		Level 3		Fair Value
Assets:
Short-term investments	$	—	$	11,392	$	—	$	11,392
Pension plan assets		—		2,925		—		2,925
Non-qualified deferred compensation plan assets		—		3,015		—		3,015
Foreign currency forward contracts		—		154		—		154
Total assets at fair value	$	—	$	17,486	$	—	$	17,486
Liabilities:
Non-qualified deferred compensation plan liability	$	—	$	1,108	$	—	$	1,108
Total liabilities at fair value	$	—	$	1,108	$	—	$	1,108


	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

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 3.25% or higher. 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 February 24, 2024 and August 26, 2023. 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.

Commitments and Contingencies - Narrative (Details) $ in Millions	6 Months Ended
	Feb. 24, 2024 USD ($) Site Company
Gain Contingencies [Line Items]
Operating lease, existence of option to extend	true
Operating lease, existence of option to terminate	true
Estimated impact of inflation per year	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
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	4.37%
Maximum
Gain Contingencies [Line Items]
Risk-free interest rates utilized	4.51%

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	Feb. 24, 2024	Feb. 25, 2023	Feb. 24, 2024	Feb. 25, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate	26.20%	24.60%	24.30%	25.00%
Net increase in unrecognized tax position			$ 0.2

Accumulated Other Comprehensive Loss

6 Months Ended

Feb. 24, 2024

Stockholders' Equity Note [Abstract]

Accumulated Other Comprehensive Loss

15. Accumulated Other Comprehensive Loss

The changes in each component of accumulated other comprehensive loss, net of tax, for the thirteen and twenty-six weeks ended February 24, 2024 and February 25, 2023 were as follows (in thousands):


	Thirteen Weeks Ended February 24, 2024
	Foreign Currency Translation			Pension- related (1)		Derivative Financial Instruments (1)			Total Accumulated Other Comprehensive Loss
Balance as of November 25, 2023	$	(26,655	)	$	2,582	$	149		$	(23,924	)
Other comprehensive income (loss) before reclassification		919			—		(14	)		905
Amounts reclassified from accumulated other comprehensive loss		—			—		(20	)		(20	)
Net current period other comprehensive income (loss)		919			—		(34	)		885
Balance as of February 24, 2024	$	(25,736	)	$	2,582	$	115		$	(23,039	)


	Twenty-Six Weeks Ended February 24, 2024
	Foreign Currency Translation			Pension- related (1)		Derivative Financial Instruments (1)			Total Accumulated Other Comprehensive Loss
Balance as of August 26, 2023	$	(26,504	)	$	2,582	$	161		$	(23,761	)
Other comprehensive income (loss) before reclassification		768			—		(2	)		766
Amounts reclassified from accumulated other comprehensive loss		—			—		(44	)		(44	)
Net current period other comprehensive income (loss)		768			—		(46	)		722
Balance as of February 24, 2024	$	(25,736	)	$	2,582	$	115		$	(23,039	)


	Thirteen Weeks Ended February 25, 2023
	Foreign Currency Translation			Pension- related (1)		Derivative Financial Instruments (1)			Total Accumulated Other Comprehensive Loss
Balance as of November 26, 2022	$	(26,581	)	$	452	$	113		$	(26,016	)
Other comprehensive (loss) income before reclassification		(1,473	)		—		84			(1,389	)
Amounts reclassified from accumulated other comprehensive loss		—			—		(25	)		(25	)
Net current period other comprehensive (loss) income		(1,473	)		—		59			(1,414	)
Balance as of February 25, 2023	$	(28,054	)	$	452	$	172		$	(27,430	)


	Twenty-Six Weeks Ended February 25, 2023
	Foreign Currency Translation			Pension- related (1)		Derivative Financial Instruments (1)			Total Accumulated Other Comprehensive Loss
Balance as of August 27, 2022	$	(24,803	)	$	452	$	61		$	(24,290	)
Other comprehensive (loss) income before reclassification		(3,251	)		—		156			(3,095	)
Amounts reclassified from accumulated other comprehensive loss		—			—		(45	)		(45	)
Net current period other comprehensive (loss) income		(3,251	)		—		111			(3,140	)
Balance as of February 25, 2023	$	(28,054	)	$	452	$	172		$	(27,430	)

(1)

Amounts are shown net of tax

Amounts reclassified from accumulated other comprehensive loss, net of tax, for the thirteen and twenty-six weeks ended February 24, 2024 and February 25, 2023 were as follows (in thousands):


	Thirteen Weeks Ended						Twenty-Six Weeks Ended
	February 24, 2024			February 25, 2023			February 24, 2024			February 25, 2023
Derivative financial instruments, net:
Forward contracts (a)	$	(20	)	$	(25	)	$	(44	)	$	(45	)
Total, net of tax		(20	)		(25	)		(44	)		(45	)

Total amounts reclassified, net of tax	$	(20	)	$	(25	)	$	(44	)	$	(45	)

(a)

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

Commitments and Contingencies (Tables)

6 Months Ended

Feb. 24, 2024

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


(In thousands, except lease term and discount rate)
Lease cost:
Operating lease costs including short-term lease expense and variable lease costs, which were immaterial in the period	$	13,209

Operating cash flow impacts:
Cash paid for amounts included in the measurement of operating lease liabilities	$	10,234
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities	$	15,525
Weighted-average remaining lease term - operating leases		5.15
Weighted-average discount rate - operating leases		4.27	%

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 February 24, 2024 are as follows (in thousands):


2024 (remaining six months)	$	11,389
2025		18,672
2026		15,745
2027		12,104
2028		8,579
Thereafter		12,924
Total payments		79,413
Less interest		(7,635	)
Total present value of lease payments	$	71,778

Schedule of Changes to Environmental Liabilities

The changes to the Company’s environmental liabilities for the twenty-six weeks ended February 24, 2024 were as follows (in thousands):


	February 24, 2024
Balance as of August 26, 2023	$	30,029
Costs incurred for which reserves have been provided		(1,393	)
Insurance proceeds		106
Interest accretion		632
Changes in discount rates		(120	)
Revisions in estimates		722
Balance as of February 24, 2024	$	29,976

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


(In thousands)	2024			2025			2026			2027			2028			Thereafter			Total
Estimated costs – current dollars	$	13,517		$	2,651		$	1,442		$	1,270		$	972		$	14,617		$	34,469
Estimated insurance proceeds		(180	)		(195	)		(159	)		(173	)		(9	)		(230	)		(946	)
Net anticipated costs	$	13,337		$	2,456		$	1,283		$	1,097		$	963		$	14,387		$	33,523
Effect of inflation																				9,856
Effect of discounting																				(13,403	)
Balance as of February 24, 2024																			$	29,976

Recent Accounting Pronouncements

6 Months Ended

Feb. 24, 2024

Accounting Policies [Abstract]

Recent Accounting Pronouncements

2. 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. The Company adopted this guidance on August 27, 2023. The adoption of this guidance did not 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 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.

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which updates reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses. The amendments are effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The amendments should be applied retrospectively to all prior periods presented in the financial statements. The Company is currently evaluating this ASU to determine its impact on the Company’s disclosures.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which enhances effective tax rate reconciliation disclosure requirements and provides clarity to the disclosures of income taxes paid, income before taxes and provision for income taxes. The amendments are effective for fiscal years beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The amendments in this update should be applied on a prospective basis. Retrospective application is permitted. The Company is currently evaluating this ASU to determine its impact on the Company’s disclosures.

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

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

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Reference 30: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Revenue Recognition

6 Months Ended

Feb. 24, 2024

Revenue from Contract with Customer [Abstract]

Revenue Recognition

3. Revenue Recognition

The following table presents the Company’s revenues for the thirteen and twenty-six weeks ended February 24, 2024 and February 25, 2023, respectively, disaggregated by service type:


	Thirteen Weeks Ended										Twenty-Six Weeks Ended
	February 24, 2024					February 25, 2023					February 24, 2024					February 25, 2023
(In thousands, except percentages)	Revenues		% of Revenues			Revenues		% of Revenues			Revenues		% of Revenues			Revenues		% of Revenues
Core Laundry Operations	$	522,420		88.4	%	$	477,050		87.9	%	$	1,046,409		88.4	%	$	954,448		88.0	%
Specialty Garments		43,462		7.4	%		42,127		7.8	%		88,131		7.4	%		86,206		8.0	%
First Aid		24,829		4.2	%		23,514		4.3	%		49,696		4.2	%		43,835		4.0	%
Total revenues	$	590,711		100.0	%	$	542,691		100.0	%	$	1,184,236		100.0	%	$	1,084,489		100.0	%

See Note 16, “Segment Reporting” for additional details of segment definitions.

Revenue Recognition Policy

During the thirteen weeks ended February 24, 2024 and February 25, 2023, approximately 84.0% and 84.1%, respectively, of the Company’s revenues were derived from fees for route servicing of the Core Laundry Operations, Specialty Garments, and First Aid segments performed by the Company’s employees at each customer’s location of business. During the twenty-six weeks ended February 24, 2024 and February 25, 2023, approximately 84.2% and 84.3%, respectively, of the Company’s revenues were derived from fees for route servicing of the Core Laundry Operations, Specialty Garments, and First Aid segments performed by the Company’s employees at each 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 customer-based 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 the thirteen and twenty-six weeks ended February 24, 2024 and February 25, 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 updated accounting guidance for revenue recognition. These assets are included in other assets on the Consolidated Balance Sheets.

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 non-current 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 February 24, 2024, the current and non-current assets related to deferred commissions totaled $17.3 million and $75.0 million, respectively. As of August 26, 2023, the current and non-current assets related to deferred commissions totaled $16.5 million and $70.4 million, respectively. During the thirteen weeks ended February 24, 2024 and February 25, 2023, the Company recorded $4.5 million and $4.1 million, respectively, of amortization expense related to deferred commissions. During the twenty-six weeks ended February 24, 2024 and February 25, 2023, the Company recorded $8.8 million and $8.1 million, respectively, of amortization expense related to deferred commissions. This expense is classified in selling and administrative expenses on the Consolidated Statements of Income.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

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

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

Asset Retirement Obligations

6 Months Ended

Feb. 24, 2024

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligations

11. 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, and the liability has been discounted to present value using a credit-adjusted risk-free rate. 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 liability for the twenty-six weeks ended February 24, 2024 was as follows (in thousands):


	February 24, 2024
Balance as of August 26, 2023	$	16,471
Accretion expense		467
Effect of exchange rate changes		13
Balance as of February 24, 2024	$	16,951

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

Income Per Share - Schedule of Computation of Basic Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Feb. 24, 2024	Nov. 25, 2023	Feb. 25, 2023	Nov. 26, 2022	Feb. 24, 2024	Feb. 25, 2023
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income	$ 20,457	$ 42,325	$ 17,810	$ 33,957	$ 62,782	$ 51,767
Allocation of net income for Basic:
Common stock	$ 20,457		$ 17,810		$ 62,782	$ 51,767
Weighted average number of shares for Basic:
Common stock (in shares)	18,696		18,677		18,700	18,674
Common Stock
Allocation of net income for Basic:
Common stock	$ 17,188		$ 14,962		$ 52,754	$ 43,488
Weighted average number of shares for Basic:
Common stock (in shares)	15,106		15,087		15,110	15,084
Income per share for Basic:
Common stock (in dollars per share)	$ 1.14		$ 0.99		$ 3.49	$ 2.88
Class B Common Stock
Allocation of net income for Basic:
Common stock	$ 3,269		$ 2,848		$ 10,028	$ 8,279
Weighted average number of shares for Basic:
Common stock (in shares)	3,590		3,590		3,590	3,590
Income per share for Basic:
Common stock (in dollars per share)	$ 0.91		$ 0.79		$ 2.79	$ 2.31

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

3 Months Ended

6 Months Ended

Feb. 24, 2024

Nov. 25, 2023

Feb. 25, 2023

Nov. 26, 2022

Feb. 24, 2024

Feb. 25, 2023

Accumulated Other Comprehensive Income Loss [Line Items]

Net income

$ 20,457

$ 42,325

$ 17,810

$ 33,957

$ 62,782

$ 51,767

Reclassification out of Accumulated Other Comprehensive Income

Accumulated Other Comprehensive Income Loss [Line Items]

Net income

(20)

(25)

(44)

(45)

Derivative Financial Instruments | Reclassification out of Accumulated Other Comprehensive Income

Accumulated Other Comprehensive Income Loss [Line Items]

Net income

(20)

(25)

(44)

(45)

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

Accumulated Other Comprehensive Income Loss [Line Items]

Revenues

^[1]

$ (20)

$ (25)

$ (44)

$ (45)

[1]	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

+ 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

Long-Term Debt

6 Months Ended

Feb. 24, 2024

Debt Disclosure [Abstract]

Long-Term Debt

14. 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. Prior to its amendment as described below, the Credit Agreement had an accordion feature that allowed for increases of the aggregate commitments under the Credit Agreement of up to an additional $100.0 million, for a total aggregate commitment of up to $275.0 million.

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 increased 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 provided 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 February 24, 2024, 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. As of February 24, 2024, the Company had no outstanding borrowings and had outstanding letters of credit amounting to $62.4 million, leaving $212.6 million available for borrowing under the Credit Agreement.

As of February 24, 2024, the Company was in compliance with all covenants under the Credit Agreement.

Revenue Recognition - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Feb. 24, 2024	Feb. 25, 2023	Feb. 24, 2024	Feb. 25, 2023	Aug. 26, 2023
Revenue from Contract with Customer [Abstract]
Percentage of revenues derived from route servicing fees	84.00%	84.10%	84.20%	84.30%
Current assets related to deferred commissions	$ 17.3		$ 17.3		$ 16.5
Noncurrent assets related to deferred commissions	75.0		75.0		$ 70.4
Amortization expense related to deferred commissions	$ 4.5	$ 4.1	$ 8.8	$ 8.1

Goodwill and Other Intangible Assets (Tables)

6 Months Ended

Feb. 24, 2024

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 26, 2023	$	647,900
Purchase price adjustments recorded during the period		900
Other		29
Balance as of February 24, 2024	$	648,829

Schedule of Intangible Assets, Net

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


	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
February 24, 2024
Customer contracts	$	314,566	$	220,231	$	94,335
Software		81,768		48,217		33,551
Other intangible assets		39,832		35,240		4,592
	$	436,166	$	303,688	$	132,478

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

- 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
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-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 4: http://www.xbrl.org/2009/role/commonPracticeRef
-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 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-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 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
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-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Accumulated Other Comprehensive Loss (Tables)

6 Months Ended

Feb. 24, 2024

Stockholders' Equity Note [Abstract]

Schedule of Changes in Components of Accumulated Other Comprehensive Loss, Net of Tax

The changes in each component of accumulated other comprehensive loss, net of tax, for the thirteen and twenty-six weeks ended February 24, 2024 and February 25, 2023 were as follows (in thousands):


	Thirteen Weeks Ended February 24, 2024
	Foreign Currency Translation			Pension- related (1)		Derivative Financial Instruments (1)			Total Accumulated Other Comprehensive Loss
Balance as of November 25, 2023	$	(26,655	)	$	2,582	$	149		$	(23,924	)
Other comprehensive income (loss) before reclassification		919			—		(14	)		905
Amounts reclassified from accumulated other comprehensive loss		—			—		(20	)		(20	)
Net current period other comprehensive income (loss)		919			—		(34	)		885
Balance as of February 24, 2024	$	(25,736	)	$	2,582	$	115		$	(23,039	)


	Twenty-Six Weeks Ended February 24, 2024
	Foreign Currency Translation			Pension- related (1)		Derivative Financial Instruments (1)			Total Accumulated Other Comprehensive Loss
Balance as of August 26, 2023	$	(26,504	)	$	2,582	$	161		$	(23,761	)
Other comprehensive income (loss) before reclassification		768			—		(2	)		766
Amounts reclassified from accumulated other comprehensive loss		—			—		(44	)		(44	)
Net current period other comprehensive income (loss)		768			—		(46	)		722
Balance as of February 24, 2024	$	(25,736	)	$	2,582	$	115		$	(23,039	)


	Thirteen Weeks Ended February 25, 2023
	Foreign Currency Translation			Pension- related (1)		Derivative Financial Instruments (1)			Total Accumulated Other Comprehensive Loss
Balance as of November 26, 2022	$	(26,581	)	$	452	$	113		$	(26,016	)
Other comprehensive (loss) income before reclassification		(1,473	)		—		84			(1,389	)
Amounts reclassified from accumulated other comprehensive loss		—			—		(25	)		(25	)
Net current period other comprehensive (loss) income		(1,473	)		—		59			(1,414	)
Balance as of February 25, 2023	$	(28,054	)	$	452	$	172		$	(27,430	)


	Twenty-Six Weeks Ended February 25, 2023
	Foreign Currency Translation			Pension- related (1)		Derivative Financial Instruments (1)			Total Accumulated Other Comprehensive Loss
Balance as of August 27, 2022	$	(24,803	)	$	452	$	61		$	(24,290	)
Other comprehensive (loss) income before reclassification		(3,251	)		—		156			(3,095	)
Amounts reclassified from accumulated other comprehensive loss		—			—		(45	)		(45	)
Net current period other comprehensive (loss) income		(3,251	)		—		111			(3,140	)
Balance as of February 25, 2023	$	(28,054	)	$	452	$	172		$	(27,430	)

(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 the thirteen and twenty-six weeks ended February 24, 2024 and February 25, 2023 were as follows (in thousands):


	Thirteen Weeks Ended						Twenty-Six Weeks Ended
	February 24, 2024			February 25, 2023			February 24, 2024			February 25, 2023
Derivative financial instruments, net:
Forward contracts (a)	$	(20	)	$	(25	)	$	(44	)	$	(45	)
Total, net of tax		(20	)		(25	)		(44	)		(45	)

Total amounts reclassified, net of tax	$	(20	)	$	(25	)	$	(44	)	$	(45	)

(a)

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

Acquisitions

6 Months Ended

Feb. 24, 2024

Business Combinations [Abstract]

Acquisitions

4. Acquisitions

Whenever the Company acquires a business, consistent with current accounting guidance, the results of operations of the acquisition are included in the Company’s consolidated financial results from the date of the acquisition. The amount assigned to 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 and intangible assets is recorded as goodwill. Goodwill is allocated to the segment to which the acquisition relates and is deductible for tax purposes. During the twenty-six weeks ended February 24, 2024, the Company did not acquire any businesses.

Clean Uniform

During the third quarter of fiscal 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 represented amounts owed from the seller as a result of final closing adjustments. The acquisition was structured primarily as a stock purchase but was treated as an asset purchase from a tax perspective, which has allowed for a step-up in the tax basis of the assets and provides incremental tax benefits expected to be realized over time with a value of approximately $40 million. Clean was 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 segments 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 measured the fair value of its tangible and intangible assets acquired and liabilities assumed in the Clean acquisition and has finalized the purchase price allocations. The amounts assigned to intangible assets acquired were based on their respective fair values determined as of the acquisition date, which the Company determined by engaging specialists to assist in their valuation. The table below summarizes the final 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 segments and are deductible for tax purposes.

The final 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:


	Estimated Fair Value (in thousands)		Weighted-Average Life (in years)
Goodwill	$	187,733	N/A
Customer contracts		64,800		15.0
Trade name		5,300		3.0
Total intangible assets and goodwill acquired	$	257,833

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, 2022. The unaudited pro forma revenue of the combined entity for the thirteen and twenty-six weeks ended February 25, 2023 were $565.5 million and $1.1 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 the thirteen and twenty-six weeks ended February 25, 2023.

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.