v3.26.1
Debt
 6 Months Ended
Feb. 28, 2026
Debt Instruments [Abstract]  
Debt Debt
Debt at February 28, 2026 and August 30, 2025 consisted of the following:
February 28,
2026		August 30,
2025
Amended Revolving Credit Facility$90,000 $65,000 
Uncommitted Credit Facilities217,000 217,000 
Long-Term Note Payable4,750 4,750 
Private Placement Debt:
2.90% Senior Notes, Series B, due July 28, 2026
100,000 100,000 
2.60% Senior Notes, due March 5, 2027
50,000 50,000 
5.73% Senior Notes, due April 18, 2027
50,000 50,000 
Financing arrangements766 38 
Obligations under finance leases599 450 
Less: unamortized debt issuance costs(1,365)(1,539)
Total debt, including obligations under finance leases$511,750 $485,699 
Less: current portion(317,233)
(1)
(316,868)
(2)
Total long-term debt, including obligations under finance leases$194,517 $168,831 
(1)Consists of $217,000 from the Uncommitted Credit Facilities (as defined below), $100,000 from the 2.90% Senior Notes, Series B, due July 28, 2026, $388 from financing arrangements, $194 from obligations under finance leases and net of unamortized debt issuance costs of $349 expected to be amortized in the next 12 months.
(2)Consists of $217,000 from the Uncommitted Credit Facilities (as defined below), $100,000 from the 2.90% Senior Notes, Series B, due July 28, 2026, $17 from financing arrangements, $200 from obligations under finance leases and net of unamortized debt issuance costs of $349 expected to be amortized in the next 12 months.
In April 2017, the Company entered into a $600,000 revolving credit facility, which was subsequently amended (as amended, the “Amended Revolving Credit Facility”). The Amended Revolving Credit Facility, which matures on July 16, 2030, provides for a five-year unsecured revolving loan facility on a committed basis. The interest rate for borrowings under the Amended Revolving Credit Facility is based on either the Adjusted Term SOFR Rate (as defined in the Amended Revolving Credit Facility) or a base rate, plus a spread based on the Company’s consolidated net leverage ratio at the end
of each fiscal reporting quarter. The Company currently elects to have loans under the Amended Revolving Credit Facility bear interest based on the Adjusted Term SOFR Rate with one-month interest periods.
The Amended Revolving Credit Facility permits up to $50,000 to be used to fund letters of credit. The Amended Revolving Credit Facility also permits the Company to initiate one or more incremental term loan facilities and/or to increase the revolving loan commitments in an aggregate amount not to exceed $300,000. Subject to certain limitations, each such incremental term loan facility or revolving loan commitment increase will be on terms as agreed to by the Company, the administrative agent and the lenders providing such financing. Outstanding letters of credit were $9,328 and $6,304 at February 28, 2026 and August 30, 2025, respectively.
Uncommitted Credit Facilities
During fiscal years 2025 and 2026, the Company either extended or amended all three of its uncommitted credit facilities. These facilities (collectively, the “Uncommitted Credit Facilities” and, together with the Amended Revolving Credit Facility, the “Credit Facilities”) total $230,000 in aggregate maximum uncommitted availability, under which $217,000 was outstanding at each of February 28, 2026 and August 30, 2025, and are included in Current portion of debt including obligations under finance leases in the unaudited Condensed Consolidated Balance Sheets. The interest rate on the Uncommitted Credit Facilities is based on the Secured Overnight Financing Rate. Borrowings under the Uncommitted Credit Facilities are due at the end of the applicable interest period, which is typically one month but may be up to six months and may be rolled over to a new interest period at the option of the applicable lender. The Company’s lenders have, in the past, been willing to roll over the principal amount outstanding under the Uncommitted Credit Facilities at the end of each interest period but are not obligated to do so. Each Uncommitted Credit Facility matures within one year of entering into such Uncommitted Credit Facility and contains certain limited covenants which are substantially the same as the limited covenants contained in the Amended Revolving Credit Facility. All of the Uncommitted Credit Facilities are unsecured and rank equally in right of payment with the Company’s other unsecured indebtedness.
During the twenty-six-week period ended February 28, 2026, the Company borrowed an aggregate $218,000 and repaid an aggregate $193,000 under the Credit Facilities. As of February 28, 2026 and August 30, 2025, the weighted-average interest rates on borrowings under the Credit Facilities were 4.53% and 5.19%, respectively.
Private Placement Debt
In July 2016, the Company completed the issuance and sale of $100,000 aggregate principal amount of 2.90% Senior Notes, Series B, due July 28, 2026; in March 2020, the Company completed the issuance and sale of $50,000 aggregate principal amount of 2.60% Senior Notes, due March 5, 2027; and, in April 2024, the Company completed the issuance and sale of $50,000 aggregate principal amount of 5.73% Senior Notes, due April 18, 2027 (collectively, the “Private Placement Debt”). Interest is payable semiannually at the fixed stated interest rates. All of the Private Placement Debt is unsecured.
Covenants
Each of the Credit Facilities and the Private Placement Debt imposes several restrictive covenants. As of February 28, 2026, the Company was in compliance with the operating and financial covenants of the Credit Facilities and the Private Placement Debt.