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

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

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

12 Months Ended

Aug. 31, 2019

Aug. 25, 2018

Aug. 26, 2017

Statement of Comprehensive Income [Abstract]

Net income

$ 1,617,221

$ 1,337,536

$ 1,280,869

Other comprehensive income (loss):

Pension liability adjustments, net of taxes

^[1],[2]

72,376

16,514

Foreign currency translation adjustments

(36,699)

(53,085)

35,198

Unrealized gains (losses) on marketable debt securities, net of taxes

^[3]

1,464

(862)

(131)

Net derivative activity, net of taxes

^[4]

1,718

323

1,391

Total other comprehensive (loss) income

(33,517)

18,752

52,972

Comprehensive income

$ 1,583,704

$ 1,356,288

$ 1,333,841

[1]	On December 19, 2017, the Board approved a resolution to terminate both of the Company’s pension plans, effective March 15, 2018. During the fourth quarter of 2018, the Company completed the termination and no longer has any remaining defined benefit pension obligation.
[2]	Pension liability adjustments are presented net of taxes of $46,523 in 2018, which includes $13,122 related to the adoption of ASU 2018-02—Income Statement—Reporting Comprehensive Income: Reclassification of Certain Tax effects from Accumulated Other Comprehensive Income (ASU 2018-02), and $10,542 in 2017.
[3]	Unrealized gains on marketable debt securities are presented net of taxes of $389 in 2019. Unrealized losses on marketable debt securities are presented net of taxes of $234 in 2018, and $69 in 2017.
[4]	Net derivative activities are presented net of taxes of $530 in 2019, $1,882 in 2018, which includes $1,367 related to the adoption of ASU 2018-02, and $814 in 2017

- Definition

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

+ References + Details

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

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

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

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

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

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

Significant Accounting Policies

12 Months Ended

Aug. 31, 2019

Accounting Policies [Abstract]

Significant Accounting Policies

Note A – Significant Accounting Policies

Business:

AutoZone, Inc. (“AutoZone” or the “Company”) is the leading retailer, and a leading distributor, of automotive replacement parts and accessories in the Americas. At the end of fiscal 2019, the Company operated

5,772

stores in the United States, including Puerto Rico and Saint Thomas;

604

stores in Mexico; and

stores in Brazil. Each store carries an extensive product line for cars, sport utility vehicles, vans and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories and

non-automotive

products. At the end of fiscal 2019, 4,893 of the domestic stores had a commercial sales program that provides commercial credit and prompt delivery of parts and other products to local, regional and national repair garages, dealers, service stations and public sector accounts. The Company also had commercial programs in stores in Mexico and Brazil. The Company also sells the ALLDATA brand automotive diagnostic and repair software through www.alldata.com and www.alldatadiy.com. Additionally, the Company sells automotive hard parts, maintenance items, accessories, and

non-automotive

products through www.autozone.com, and its commercial customers can make purchases through www.autozonepro.com. Additionally, on www.duralastparts.com we provide product information on our Duralast branded product. The Company does not derive revenue from automotive repair or installation services.

Fiscal Year:

The Company’s fiscal year consists of 52 or 53 weeks ending on the last Saturday in August. Fiscal 2019 represented 53 weeks. Fiscal 2018 and 2017 represented 52 weeks.

Basis of Presentation:

The Consolidated Financial Statements include the accounts of AutoZone, Inc. and its wholly owned subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation.

Use of Estimates:

Management of the Company has made a number of estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent liabilities to prepare these financial statements. Actual results could differ from those estimates.

Cash and Cash Equivalents:

Cash equivalents consist of investments with original maturities of

90 days or less

at the date of purchase. Cash equivalents include proceeds due from credit and debit card transactions with settlement terms of

less than five days

. Credit and debit card receivables included within cash and cash equivalents were $59.4 million at August 31, 2019 and $51.0 million at August 25, 2018.

Cash balances are held in various locations around the world. Cash and cash equivalents of $

49.9

million and $98.8 million were held outside of the U.S. as of August 31, 2019, and August 25, 2018, respectively, and were generally utilized to support the liquidity needs in foreign operations.

Accounts Receivable:

Accounts receivable consists of receivables from commercial customers and vendors, and is presented net of an allowance for uncollectible accounts. AutoZone routinely grants credit to certain of its commercial customers. The risk of credit loss in its trade receivables is substantially mitigated by the Company’s credit evaluation process, short collection terms and sales to a large number of customers, as well as the low dollar value per transaction for most of its sales. Allowances for potential credit losses are determined based on historical experience and current evaluation of the composition of accounts receivable. Historically, credit losses have been within management’s expectations and the balance of the allowance for uncollectible accounts was $8.5 million at August 31, 2019, and $6.1 million at August 25, 2018.

Merchandise Inventories:

Inventories are stated at the lower of cost or market. Merchandise inventories include related purchasing, storage and handling costs. Inventory cost has been determined using the

last-in,

first-out

(“LIFO”) method stated at the lower of cost or market for domestic inventories and the weighted average cost method for Mexico and Brazil inventories stated at the lower of cost or net realizable value. Due to historical price deflation on the Company’s merchandise purchases, the Company has exhausted its LIFO reserve balance. The Company’s policy is to not write up inventory in excess of replacement cost. The difference between LIFO cost and replacement cost, which will be reduced upon experiencing price inflation on the Company’s merchandise purchases, was

$404.9 million at August 31, 2019, and $452.4 million at August 25, 2018.

Marketable Debt Securities:

The Company invests a portion of its assets held by the Company’s wholly owned insurance captive in marketable debt securities and classifies them as

available-for-sale.

The Company includes these debt securities within the Other current assets and Other long-term assets captions in the accompanying Consolidated Balance Sheets and records the amounts at fair market value, which is determined using quoted market prices at the end of the reporting period. A discussion of marketable debt securities is included in “Note E – Fair Value Measurements” and “Note F – Marketable Debt Securities.”

Property and Equipment:

Property and equipment is stated at cost. Depreciation and amortization are computed principally using the straight-line method over the following estimated useful lives: buildings,

years; building improvements,

years; equipment, including software,

years; and leasehold improvements, over the shorter of the asset’s estimated useful life or the remaining lease term, which includes any reasonably assured renewal periods. Depreciation and amortization include amortization of assets under capital lease.

Impairment of Long-Lived Assets:

The Company evaluates the recoverability of its long-lived assets whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. When such an event occurs, the Company compares the sum of the undiscounted expected future cash flows of the asset (asset group) with the carrying amounts of the asset. If the undiscounted expected future cash flows are less than the carrying value of the assets, the Company measures the amount of impairment loss as the amount by which the carrying amount of the assets exceeds the fair value of the assets.

Goodwill:

The cost in excess of fair value of identifiable net assets of businesses acquired is recorded as goodwill. Goodwill has not been amortized since fiscal 2001, but an analysis is performed at least annually to compare the fair value of the reporting unit to the carrying amount to determine if any impairment exists. The Company performs its annual impairment assessment in the fourth quarter of each fiscal year, unless circumstances dictate more frequent assessments. Refer to “Note N – Goodwill and Intangibles” for additional disclosures regarding the Company’s goodwill and impairment assessment.

Intangible Assets:

Intangible assets consist of customer relationships purchased relating to ALLDATA operations. Amortizing intangible assets are amortized over periods ranging from 3 to 10 years. Refer to “Note N – Goodwill and Intangibles” and “Note M – Sale of Assets” for additional disclosures regarding the Company’s intangible assets and impairment assessment.

Derivative Instruments and Hedging Activities:

AutoZone is exposed to market risk from, among other things, changes in interest rates, foreign exchange rates and fuel prices. From time to time, the Company uses various derivative instruments to reduce such risks. To date, based upon the Company’s current level of foreign operations, no derivative instruments have been utilized to reduce foreign exchange rate risk. All of the Company’s hedging activities are governed by guidelines that are authorized by AutoZone’s Board of Directors (the “Board”). Further, the Company does not buy or sell derivative instruments for trading purposes.

AutoZone’s financial market risk results primarily from changes in interest rates. At times, AutoZone reduces its exposure to changes in interest rates by entering into various interest rate hedge instruments such as interest rate swap contracts, treasury lock agreements and forward-starting interest rate swaps. All of the Company’s interest rate hedge instruments are designated as cash flow hedges. Refer to “Note H – Derivative Financial Instruments” for additional disclosures regarding the Company’s derivative instruments and hedging activities. Cash flows related to these instruments designated as qualifying hedges are reflected in the accompanying Consolidated Statements of Cash Flows in the same categories as the cash flows from the items being hedged. Accordingly, cash flows relating to the settlement of interest rate derivatives hedging the forecasted issuance of debt have been reflected upon settlement as a component of financing cash flows. The resulting gain or loss from such settlement is deferred to Accumulated Other Comprehensive Loss and reclassified to interest expense over the term of the underlying debt. This reclassification of the deferred gains and losses impacts the interest expense recognized on the underlying debt that was hedged and is therefore reflected as a component of operating cash flows in periods subsequent to settlement.

Foreign Currency:

The Company accounts for its Mexican, Brazilian, Canadian, European, Chinese and

German

operations using the local market currency and converts its financial statements from these currencies to U.S. dollars. The cumulative loss on currency translation is recorded as a component of Accumulated Other Comprehensive Loss (Refer to “Note G – Accumulated Other Comprehensive Loss”) for additional information regarding the Company’s Accumulated Other Comprehensive Loss.

Self-Insurance Reserves:

The Company retains a significant portion of the risks associated with workers’ compensation, general liability, products liability, property and vehicle insurance. The Company obtains third party insurance to limit the exposure related to certain of these risks. The reserve for the Company’s liability associated with these risks totaled $207.0 million and $203.1 million at August 31, 2019 and August 25, 2018, respectively.

The assumptions made by management in estimating its self-insurance reserves include consideration of historical cost experience, judgments about the present and expected levels of cost per claim and retention levels. The Company utilizes various methods, including analyses of historical trends and use of a specialist, to estimate the costs to settle reported claims and claims incurred but not yet reported. The actuarial methods develop estimates of the future ultimate claim costs based on claims incurred as of the balance sheet date. When estimating these liabilities, the Company considers factors, such as the severity, duration and frequency of claims, legal costs associated with claims, healthcare trends and projected inflation of related factors.

The Company’s liabilities for workers’ compensation, general and product liability, property and vehicle claims do not have scheduled maturities; however, the timing of future payments is predictable based on historical patterns and is relied upon in determining the current portion of these liabilities. Accordingly, the Company reflects the net present value of the obligations it determines to be long-term using the risk-free interest rate as of the balance sheet date.

Deferred Rent:

The Company recognizes rent expense on a straight-line basis over the course of the lease term, which includes any reasonably assured renewal periods, beginning on the date the Company takes physical possession of the property (see “Note O – Leases”). Differences between this calculated expense and cash payments are recorded as a liability within the Accrued expenses and other and Other long-term liabilities captions in the accompanying Consolidated Balance Sheets, based on the terms of the lease. Deferred rent approximated $159.9 million as of August 31, 2019, and $139.6 million as of August 25, 2018.

Financial Instruments:

The Company has financial instruments, including cash and cash equivalents, accounts receivable, other current assets and accounts payable. The carrying amounts of these financial instruments approximate fair value because of their short maturities. A discussion of the carrying values and fair values of the Company’s debt is included in “Note I – Financing,” marketable debt securities is included in “Note F – Marketable Debt Securities,” and derivatives is included in “Note H – Derivative Financial Instruments.”

Income Taxes:

The Company accounts for income taxes under the liability method. Deferred tax assets and liabilities are determined based on differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Our effective tax rate is based on income by tax jurisdiction, statutory rates and tax saving initiatives available to the Company in the various jurisdictions in which we operate.

The Company recognizes liabilities for uncertain income tax positions based on a

two-step

process. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step requires the Company to estimate and measure the tax benefit as the largest amount that is

more than 50%

likely to be realized upon ultimate settlement. It is inherently difficult and subjective to estimate such amounts, as the Company must determine the probability of various possible outcomes. The Company reevaluates these uncertain tax positions on a quarterly basis or when new information becomes available to management. These reevaluations are based on factors including, but not limited to, changes in facts or circumstances, changes in tax law, successfully settled issues under audit, expirations due to statutes

and new audit activity. Such a change in recognition or measurement could result in the recognition of a tax benefit or an increase to the tax accrual.

The Company classifies interest related to income tax liabilities, and if applicable, penalties, as a component of Income tax expense. The income tax liabilities and accrued interest and penalties that are expected to be payable within one year of the balance sheet date are presented within the Accrued expenses and other caption in the accompanying Consolidated Balance Sheets.

The remaining portion of the income tax liabilities and accrued interest and penalties are presented within the Other long-term liabilities caption in the accompanying Consolidated Balance Sheets because payment of cash is not anticipated within one year of the balance sheet date. Refer to “Note D – Income Taxes” for additional disclosures regarding the Company’s income taxes.

Sales and Use Taxes:

Governmental authorities assess sales and use taxes on the sale of goods and services. The Company excludes taxes collected from customers in its reported sales results; such amounts are included within the Accrued expenses and other caption until remitted to the taxing authorities.

Dividends:

The Company currently does not pay a dividend on its common stock. The ability to pay dividends is subject to limitations imposed by Nevada law. Under Nevada law, any future payment of dividends would be dependent upon the Company’s financial condition, capital requirements, earnings and cash flow.

Revenue Recognition:

The Company’s primary source of revenue is derived from the sale of automotive aftermarket parts and merchandise to its retail and commercial customers. Revenue is recognized when performance obligations under the terms of a contract with a customer are satisfied, in an amount representing the consideration the Company expects to receive in exchange for selling products to its customers. Sales are recorded net of variable consideration in the period incurred, including discounts, sales incentives and rebates, sales taxes and estimated sales returns. Sales returns are based on historical return rates. The Company may enter into contracts that include multiple combinations of products and services, which are accounted for as separate performance obligations and do not require significant judgment.

The Company’s performance obligations are typically satisfied when the customer takes possession of the merchandise. Revenue from retail customers is recognized when the customer leaves our store with the purchased products, typically at the point of sale or for

E-commerce

orders when the product is shipped. Revenue from commercial customers is recognized upon delivery, typically

same-day.

Payment from retail customers is at the point of sale and payment terms for commercial customers are based on the Company’s

pre-established

credit requirements and generally range from 1 to 30 days. Discounts, sales incentives and rebates are treated as separate performance obligations, and revenue allocated to these performance obligations is recognized as the obligations to the customer are satisfied. Additionally, the Company estimates and records gift card breakage as redemptions occur. The Company offers diagnostic and repair information software used in the automotive repair industry through ALLDATA. This revenue is recognized as services are provided. Revenue from these services are recognized over the life of the contract. See “Note R

Revenue Recognition” for further discussion.

A portion of the Company’s transactions include the sale of auto parts that contain a core component. The core component represents the recyclable portion of the auto part. Customers are not charged for the core component of the new part if a used core is returned at the point of sale of the new part; otherwise the Company charges customers a specified amount for the core component. The Company refunds that same amount upon the customer returning a used core to the store at a later date. The Company does not recognize sales or cost of sales for the core component of these transactions when a used part is returned or expected to be returned from the customer.

Vendor Allowances and Advertising Costs:

The Company receives various payments and allowances from its vendors through a variety of programs and arrangements. Monies received from vendors include rebates, allowances and promotional funds. The amounts to be received are subject to the terms of the vendor agreements, which generally do not state an expiration date, but are subject to ongoing negotiations that may be impacted in the future based on changes in market conditions, vendor marketing strategies and changes in the profitability or sell-through of the related merchandise.

Rebates and other miscellaneous incentives are earned based on purchases or product sales and are accrued ratably over the purchase or sale of the related product. These monies are generally recorded as a reduction of merchandise inventories and are recognized as a reduction to cost of sales as the related inventories are sold.

For arrangements that provide for reimbursement of specific, incremental, identifiable costs incurred by the Company in selling the vendors’ products, the vendor funds are recorded as a reduction to Operating, selling, general and administrative expenses in the period in which the specific costs were incurred.

The Company expenses advertising costs as incurred. Advertising expense, net of vendor promotional funds, was $87.5 million in fiscal 2019, $95.2 million in fiscal 2018, and $93.1 million in fiscal 2017. Vendor promotional funds, which reduced advertising expense, amounted to $32.2 million in fiscal 2019, $25.3 million in fiscal 2018, and $28.3 million in fiscal 2017.

Cost of Sales and Operating, Selling, General and Administrative Expenses:

The following illustrates the primary costs classified in each major expense category:

Cost of Sales

•

Total cost of merchandise sold, including:

•

Freight expenses associated with moving merchandise inventories from the Company’s vendors to the distribution centers;

•

Vendor allowances that are not reimbursements for specific, incremental and identifiable costs

•

Costs associated with operating the Company’s supply chain, including payroll and benefit costs, warehouse occupancy costs, transportation costs and depreciation; and

•

Inventory shrinkage

Operating, Selling, General and Administrative Expenses

•

Payroll and benefit costs for store, field leadership and store support employees;

•

Occupancy costs of store and store support facilities;

•

Depreciation and amortization related to store and store support assets;

•

Transportation costs associated with field leadership, commercial sales force and deliveries from stores;

•

Advertising;

•

Self

insurance costs; and

•

Other administrative costs, such as credit card transaction fees, legal costs, supplies and travel and lodging

Warranty Costs:

The Company or the vendors supplying its products provides the Company’s customers limited warranties on certain products that range from 30 days to lifetime. In most cases, the Company’s vendors are primarily responsible for warranty claims. Warranty costs relating to merchandise sold under warranty not covered by vendors are estimated and recorded as warranty obligations at the time of sale based on each product’s historical return rate. These obligations, which are often funded by vendor allowances, are recorded within the Accrued expenses and other caption in the Consolidated Balance Sheets. For vendor allowances that are in excess of the related estimated warranty expense for the vendor’s products, the excess is recorded in inventory and recognized as a reduction to cost of sales as the related inventory is sold.

Shipping and Handling Costs:

The Company does not generally charge customers separately for shipping and handling. Substantially all the costs the Company incurs to ship products to our stores are included in cost of sales.

Pre-opening

Expenses:

Pre-opening

expenses, which consist primarily of payroll and occupancy costs, are expensed as incurred.

Earnings per Share

: Basic earnings per share is based on the weighted average outstanding common shares. Diluted earnings per share is based on the weighted average outstanding common shares adjusted for the effect of common stock equivalents, which are primarily stock options. There were 90,314 stock options excluded from the diluted earnings per share calculation because they would have been anti-dilutive as of August 31, 2019. There were 847,279 stock options excluded for the year ended August 25, 2018, and 620,025 stock options excluded for the year ended August 26, 2017, because they would have been anti-dilutive.

Share-Based Payments:

Share-based payments include stock option grants, restricted stock, restricted stock units, stock appreciation rights and other transactions under the Company’s equity incentive plans. The Company recognizes compensation expense for its share-based payments over the requisite service period based on the fair value of the awards. The Company uses the Black-Scholes option pricing model to calculate the fair value of stock options. The value of restricted stock is based on the stock price of the award on the grant date. See “Note B – Share-Based Payments” for further discussion.

Risk and Uncertainties:

In fiscal 2019, one class of similar products accounted for approximately 13 percent of the Company’s total revenues, and one vendor supplied approximately 12 percent of the Company’s total purchases. No other class of similar products accounted for 10 percent or more of total revenues, and no other individual vendor provided more than 10 percent of total purchases.

Recently Adopted Accounting Pronouncements:

In May 2014, the Financial Accounting Standards Board (“FASB”) issued

ASU

2014-09,

Revenue from Contracts with Customers (Topic 606).

This ASU, along with subsequent ASUs issued to clarify certain provisions of ASU

2014-09,

is a comprehensive new revenue recognition model that expands disclosure requirements and requires a company to recognize revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration a company expects to receive in exchange for those goods or services. It also requires more detailed disclosures to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. Companies that transition to this new standard may either retrospectively restate each prior reporting period or follow the modified retrospective method, which reflects the cumulative effect of initially applying the updates with an adjustment to retained earnings at the date of adoption. The Company adopted this standard using the modified retrospective approach with its first quarter ended November 17, 2018. Results for the 17 and 53 weeks ended August 31, 2019 were presented under ASU

2014-09,

while prior period amounts were not adjusted and continue to be reported under the accounting standards in effect for the prior periods. The cumulative effect of the adoption of ASU

2014-09

did not have a material impact on the Company’s consolidated financial condition, results of operations, cash flows, business processes, controls or systems. Refer to “Note R – Revenue Recognition.”

In October 2016, the FASB issued

ASU

2016-16,

Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other than Inventory

. ASU

2016-16

requires that an entity recognize the income tax consequences of an intra-entity transfer of assets other than inventory when the transfer occurs. The guidance must be applied using the modified retrospective approach. The Company adopted this standard with its first quarter ended November 17, 2018 and evaluated the effects from this adoption. The Company determined the provision of ASU

2016-16

did not have an impact on the Company’s consolidated financial statements.

Recently Issued Accounting Pronouncements:

In February 2016, the FASB issued

ASU

2016-02,

Leases (Topic 842),

which replaces the existing guidance in

Accounting Standard Codification 840 (“ASC 840”),

Leases and requires a

two-fold

approach for lessee accounting, under which a lessee will account for leases as finance leases or operating leases. For all leases with terms greater than 12 months, both lease classifications will result in the lessee recognizing a

right-of-use

asset (ROU) and a corresponding lease liability on its balance sheet, with differing methodology for income statement recognition. The amendment will be effective for the Company at the beginning of its fiscal 2020 year, and early adoption is permitted. The Company will adopt this standard beginning our first quarter ending November 23, 2019. The guidance is required to be adopted using the modified retrospective approach, which provides an entity the option to apply the guidance at the beginning of the earliest comparative period presented, or at the beginning of the period in which it is adopted. The Company has elected to apply the guidance at the beginning of the period in which it is adopted. The Company intends to utilize the transition practical expedients under which the Company will not be required to reassess (i) whether expired or existing contracts are or contain leases as defined by the new standard, (ii) the classification of such leases, and (iii) whether previously capitalized initial direct costs would qualify for capitalization under the new standard.

The Company established a cross-functional implementation team to implement the new standard and identify new processes and controls to ensure compliance with the new standard. The implementation team has implemented ASU

2016-02

compliant lease accounting software and completed its internal evaluation of existing contractual arrangements. The Company is finalizing changes to its business processes and controls to support the adoption of the new standard. The Company currently expects to record consolidated ROU assets and lease liabilities of approximately

$2.5 billion to $2.8 billion on the date of adoption.

In June 2018, the FASB issued ASU

2018-07,

Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting

. ASU

2018-07

aims to simplify the accounting for share-based payments to nonemployees by aligning it with the accounting for share-based payments to employees, with certain exceptions. The amendment will be effective for the Company at the beginning of its fiscal 2020 year, and early adoption is permitted. The Company will adopt this standard beginning our first quarter ending November 23, 2019. The Company does not expect the provisions of ASU

2018-07

to have a material impact on its consolidated financial statements.

In August 2018, the FASB issued ASU

2018-15,

Intangibles – Goodwill and Other Internal Use Software (Subtopic

350-40):

Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract

. The amendments in this update align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain

internal-use

software. ASU

2018-15

is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted. The Company will adopt this standard beginning our first quarter ending November 21, 2020. The Company is currently evaluating the new guidance to determine the impact the adoption will have on the Company’s results of operations, cash flows and financial condition.

In June 2016, the FASB issued ASU

2016-13,

Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments

which was subsequently amended in November 2018 through ASU

2018-19,

Codification Improvements to Topic 326, Financial Instruments Credit Losses.

ASU

2016-13

will require entities to estimate lifetime expected credit losses for trade and other receivables, net investments in leases, financial receivables, debt securities, and other instruments, which will result in earlier recognition of credit losses. Further, the new credit loss model will affect how entities estimate their allowance for loss receivables that are current with respect to their payment terms. ASU

2016-13

will be effective for the Company at the beginning of its fiscal 2021 year. The Company will adopt this standard beginning our first quarter ending November 21, 2020. The Company is currently evaluating the new guidance to determine the impact the adoption will have on the Company’s results of operations, cash flows, and financial condition.

Share-Based Payments

12 Months Ended

Aug. 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-Based Payments

Note B – Share-Based Payments

Overview of Share-Based Payment Plans

The Company has several active and inactive equity incentive plans under which the Company has been authorized to grant share-based awards to key employees and

non-employee

directors. Awards under these plans have been in the form of restricted stock, restricted stock units, stock options, stock appreciation rights and other awards as defined by the plans. The Company also has an Employee Stock Purchase Plan that allows employees to purchase Company shares at a discount subject to certain limitations. The Company also has an Executive Stock Purchase Plan which permits all eligible executives to purchase AutoZone’s common stock

at a

iscou

up to twenty-five percent of his or her annual salary and bonus.

Amended and Restated AutoZone, Inc. 2011 Equity Incentive Award Plan

On December 15, 2010, the Company’s stockholders approved the 2011 Equity Incentive Award Plan (the “2011 Plan”), allowing the Company to provide equity-based compensation to

non-employee

directors and employees for their service to AutoZone or its subsidiaries or affiliates. Prior to the Company’s adoption of the 2011 Plan, equity-based compensation was provided to employees under the 2006 Stock Option Plan and to

non-employee

directors under the 2003 Director Compensation Plan (the “2003 Comp Plan”).

During fiscal 2016, the Company’s stockholders approved the Amended and Restated AutoZone, Inc. 2011 Equity Incentive Award Plan (the “Amended 2011 Equity Plan”). The Amended 2011 Equity Plan imposes a maximum limit on the compensation, measured as the sum of any cash compensation and the aggregate grant date fair value of awards granted under the Amended 2011 Equity Plan, which may be paid to

non-employee

directors for such service during any calendar year. The Amended 2011 Equity Plan also applies a

ten-year

term on the Amended 2011 Equity Plan through December 16, 2025 and extends the Company’s ability to grant incentive stock options through October 7, 2025.

AutoZone, Inc. Director Compensation Program

During fiscal 2014, the Company adopted the 2014 Director Compensation Program (the “Program”), which states that

non-employee

directors will receive their compensation in awards of restricted stock units under the 2011 Equity Incentive Award Plan, with an option for a certain portion of a director’s compensation to be paid in cash at the

non-employee

director’s election. The Program replaced the 2011 Director Compensation Program. Under the Program, restricted stock units are granted January 1 of each year (the “Grant Date”). The number of restricted stock units is determined by dividing the amount of the annual retainer by the fair market value of the shares of common stock as of the Grant Date. The restricted stock units are fully vested on January 1 of each year and are paid in shares of the Company’s common stock on the fifth anniversary of the Grant Date or the date the

non-employee

director ceases to be a member of the Board (“Separation from Service”), whichever occurs first.

Non-employee

directors may elect to defer receipt of the restricted stock units until their Separation from Service. The cash portion of the award, if elected, is paid ratably over the remaining calendar quarters.

2011 Director Compensation Program

In addition to the 2011 Plan, on December 15, 2010, the Company adopted the 2011 Director Compensation Program (the “2011 Program”), which stated that

non-employee

directors would receive their compensation in awards of restricted stock units under the 2011 Plan. Under the 2011 Program, restricted stock units were granted the first day of each calendar quarter. The number of restricted stock units granted each quarter was determined by dividing

one-fourth

of the amount of the annual retainer by the fair market value of the shares of common stock as of the grant date. The restricted stock units were fully vested on the date they are issued and are paid in shares of the Company’s common stock subsequent to the

non-employee

director ceasing to be a member of the Board. The 2011 Program replaced the 2003 Comp Plan.

Total share-based compensation expense (a component of Operating, selling, general and administrative expenses) was $43.3 million for fiscal 2019, $43.7 million for fiscal 2018 and $38.2 million for fiscal 2017. As of August 31, 2019, share-based compensation expense for unvested awards not yet recognized in earnings is $34.3 million and will be recognized over a weighted average period of 1.7 years.

General terms and methods of valuation for the Company’s share-based awards are as follows:

Stock Options

The Company grants options to purchase common stock to certain of its employees under its plan at prices equal to the market value of the stock on the date of grant. Options have a term of 10 years or 10 years and one day from grant date. Employee options generally vest in equal annual installments on the first, second, third and fourth anniversaries of the grant date and generally have 30 or 90 days after the service relationship ends, or one year after death, to exercise all vested options. The fair value of each option grant is separately estimated for each vesting date. The fair value of each option is amortized into compensation expense on a straight-line basis between the grant date for the award and each vesting date.

The Company has estimated the fair value of all stock option awards as of the date of the grant by applying the Black-Scholes-Merton multiple-option pricing valuation model. The following table presents the weighted average for key assumptions used in determining the fair value of options granted and the related share-based compensation expense:


	Year Ended
	August 31, 2019			August 25, 2018			August 26, 2017
Expected price volatility		21	%		20	%		18	%
Risk-free interest rates		3.0	%		1.9	%		1.2	%
Weighted average expected lives (in years)		5.6			5.1			5.1
Forfeiture rate		10	%		10	%		10	%
Dividend yield		0	%		0	%		0	%

The following methodologies were applied in developing the assumptions used in determining the fair value of options granted:

Expected price volatility

– This is a measure of the amount by which a price has fluctuated or is expected to fluctuate. The Company uses actual historical changes in the market value of its stock to calculate the volatility assumption as it is management’s belief that this is the best indicator of future volatility. The Company calculates daily market value changes from the date of grant over a past period representative of the expected life of the options to determine volatility. An increase in the expected volatility will increase compensation expense.

Risk-free interest rate

– This is the U.S. Treasury rate for the week of the grant having a term equal to the expected life of the option. An increase in the risk-free interest rate will increase compensation expense.

Expected lives

– This is the period of time over which the options granted are expected to remain outstanding and is based on historical experience. Separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes. Options granted have a maximum term of ten years or ten years and one day. An increase in the expected life will increase compensation expense.

Forfeiture rate

– This is the estimated percentage of options granted that are expected to be forfeited or canceled before becoming fully vested. This estimate is based on historical experience at the time of valuation and reduces expense ratably over the vesting period. An increase in the forfeiture rate will decrease compensation expense. This estimate is evaluated periodically based on the extent to which actual forfeitures differ, or are expected to differ, from the previous estimate.

Dividend yield

– The Company has not made any dividend payments nor does it have plans to pay dividends in the foreseeable future. An increase in the dividend yield will decrease compensation expense.

The weighted average grant date fair value per share of options granted was $208.37 during fiscal 2019, $129.12 during fiscal 2018 and $139.80 during fiscal 2017. The intrinsic value of options exercised was $227.4 million in fiscal 2019, $123.1 million in fiscal 2018 and $93.9 million in fiscal 2017. The total fair value of options vested was $34.5 million in fiscal 2019, $35.7 million in fiscal 2018 and $34.7 million in fiscal 2017.

The Company generally issues new shares when options are exercised. The following table summarizes information about stock option activity for the year ended August 31, 2019:


	Number of Shares			Weighted Average Exercise Price		Weighted- Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding – August 25, 2018		1,706,866		$	534.74
Granted		172,750			774.33
Exercised		(471,216	)		413.60
Cancelled		(59,089	)		679.92

Outstanding – August 31, 2019		1,349,311			601.36		6.08	$	675,097

Exercisable		793,266			528.85		4.88		454,415

Expected to vest		500,441			704.81		7.80		198,614

Available for future grants		547,519

Restricted Stock Units

Restricted stock unit awards are valued at the market price of a share of the Company’s stock on the date of grant and vest ratably on an annual basis over a four-year service period and are payable in shares of common stock on the vesting date. Compensation expense for grants of employee restricted stock units is recognized on a straight-line basis over the four-year service period, less estimated forfeitures, which are consistent with stock option forfeiture assumptions.

As of August 31, 2019, total unrecognized stock-based compensation expense related to nonvested restricted stock unit awards, net of estimated forfeitures, was approximately $5.6 million, before income taxes, which we expect to recognize over an estimated weighted average period of 3.1 years.

Transactions related to restricted stock units for the fiscal year ended August 31, 2019 as follow:


	Number of Shares			Weighted- Average Grant Date Fair Value
Nonvested at August 25, 2018		—			—
Granted		13,021		$	786.08
Vested		(2,514	)		838.34
Canceled or forfeited		(458	)		772.80

Nonvested at August 31, 2019		10,049		$	773.61

Stock Appreciation Rights

At August 31, 2019

the Company had $11.2 million of accrued

compensation expense

related to 10,206 outstanding units issued under the 2003 Comp Plan and prior plans. There was $13.6 million compensation expense accrued related to 17,710 outstanding units as of August 25, 2018. The decrease in outstanding units was due to the retirement of one director. As directors retire, this balance will be reduced. No additional shares of stock or units will be issued in future years under the 2003 Comp Plan.

Employee Stock Purchase Plan and Executive Stock Purchase Plan

The Company recognized $2.8 million in compensation expense related to the discount on the selling of shares to employees and executives under the various share purchase plans in fiscal 2019, $2.1 million in fiscal 2018 and $1.8 million in fiscal 2017. Under the Employee Plan, 11,011, 14,523

and

14,205 shares were sold to employees in fiscal

2019,

2018 and

2017

respectivel

. The Company repurchased 17,201 shares in fiscal 2019, 11,816 shares in fiscal 2018 and 12,455 shares in fiscal 2017

all at market value

from employees electing to sell their stock. Purchases under the Executive Plan were 1,483 shares in fiscal 2019, 1,840 shares in fiscal 2018 and 1,865 shares in fiscal 2017. Issuances of shares under the Employee Plan are netted against repurchases and such repurchases are not included in share repurchases disclosed in “Note K – Stock Repurchase Program.” At August 31, 2019, 152,766 shares of common stock were reserved for future issuance under the Employee Plan and 236,565 shares of common stock were reserved for future issuance under the Executive Plan.

Accrued Expenses and Other

12 Months Ended

Aug. 31, 2019

Payables and Accruals [Abstract]

Accrued Expenses and Other

Note C – Accrued Expenses and Other

Accrued expenses and other consisted of the following:


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

	$	621,932	$	606,894

The Company retains a significant portion of the insurance risks associated with workers’ compensation, employee health, general, products liability, property and vehicle insurance. A portion of these self-insured losses is managed through a wholly owned insurance captive. The Company maintains certain levels for stop-loss coverage for each self-insured plan in order to limit its liability for large claims. The retained limits per claim

type

are $2.0 million for workers’ compensation, $3.0 million for auto liability, $21.5 million for property, $0.7 million for employee health, and $1.0 million for general and products liability.

Income Taxes

12 Months Ended

Aug. 31, 2019

Income Tax Disclosure [Abstract]

Income Taxes

Note D – Income Taxes

The components of income from continuing operations before income taxes are as follows:


	Year Ended
(in thousands)	August 31, 2019		August 25, 2018		August 26, 2017
Domestic	$	1,745,625	$	1,412,963	$	1,737,401
International		285,708		223,366		188,088

	$	2,031,333	$	1,636,329	$	1,925,489

The provision for income tax expense consisted of the following:


	Year Ended
(in thousands)	August 31, 2019		August 25, 2018			August 26, 2017
Current:
Federal	$	274,504	$	328,963		$	487,492
State		45,457		36,389			31,733
International		59,100		57,702			50,493

		379,061		423,054			569,718
Deferred:
Federal		25,757		(131,926	)		72,208
State		6,914		8,167			7,769
International		2,380		(502	)		(5,075	)

		35,051		(124,261	)		74,902

Income tax expense	$	414,112	$	298,793		$	644,620

A reconciliation of the provision for income taxes to the amount computed by applying the federal statutory tax rate to income before income taxes is as follows:


	Year Ended
(in thousands)	August 31, 2019			August 25, 2018			August 26, 2017
Federal tax at statutory U.S. income tax rate		21.0%			25.9%			35.0%
State income taxes, net		2.0%			1.9%			1.3%
Transition tax		—			1.6%			—
Share-based compensation		(1.8%	)		(1.6%	)		(1.4%	)
Impact of tax reform		(0.4%	)		(9.6%	)		—
Other		(0.4%	)		0.1%			(1.4%	)

Effective tax rate		20.4%			18.3%			33.5%

On December 22, 2017, Tax Reform was enacted into law. Tax Reform significantly revises the U.S. federal corporate income tax by, among other things, lowering the statutory federal corporate rate from 35% to 21%, eliminating certain deductions, imposing a mandatory

one-time

transition tax on accumulated earnings of foreign subsidiaries, and changing how foreign earnings are subject to U.S. federal tax. Also in December 2017, the SEC issued Staff Accounting Bulletin No. 118 (“SAB 118”) to address the application of GAAP in situations when the registrant does not have the necessary information available, prepared, analyzed in reasonable detail to complete the accounting for certain income tax effects of Tax Reform.

During the year ended August 25, 2018, the Company recorded a provisional tax benefit of $131.5 million related to Tax Reform, comprised of a $157.3 million remeasurement of its net deferred tax assets, offset by $25.8 million of transition tax. During the year ended August 31, 2019, the Company completed its analysis of Tax Reform and recorded adjustments to the previously-recorded provisional amounts, resulting in an $8.8 million tax benefit, primarily related to transition tax.

For the year ended August 31, 2019, August 25, 2018, and August 26, 2017, the Company recognized excess tax benefits from stock option exercises of $46.0 million, $31.3 million and $31.2 million, respectively.

Beginning with the year ending August 31, 2019, the Company is subject to a new tax on global intangible

low-taxed

income (“GILTI”) that is imposed on foreign earnings. The Company has made the election to record this tax as a period cost, thus has not adjusted the deferred tax assets or liabilities of its foreign subsidiaries for the new tax. Net impacts for GILTI were immaterial and are included in the provision for income taxes for the year ended August 31, 2019.

Significant components of the Company’s deferred tax assets and liabilities were as follows:


(in thousands)	August 31, 2019			August 25, 2018
Deferred tax assets:
Net operating loss and credit carryforwards	$	42,958		$	47,190
Accrued benefits		58,900			62,867
Other		59,237			46,375

Total deferred tax assets		161,095			156,432
Less: Valuation allowances		(23,923	)		(19,619	)

Net deferred tax assets		137,172			136,813
Deferred tax liabilities:
Property and equipment		(114,956	)		(101,049	)
Inventory		(259,827	)		(242,138	)
Prepaid expenses		(46,487	)		(42,019	)
Other		(1,021	)		(2,191	)

Total deferred tax liabilities		(422,291	)		(387,397	)

Net deferred tax liabilities	$	(285,119	)	$	(250,584	)

The Company has historically asserted its intention to indefinitely reinvest foreign current and accumulated earnings and other basis differences in certain foreign subsidiaries. For the year ended August 31, 2019, with few exceptions, the Company no longer considers current and accumulated earnings to be indefinitely reinvested in our foreign subsidiaries. Where necessary, withholding tax provisions resulting from foreign distributions of current and accumulated earnings have been considered in the Company’s provision for income taxes.

The Company maintains its assertion related to other basis differences in foreign subsidiaries. It is impracticable for the Company to determine the amount of unrecognized deferred tax liability on these indefinitely reinvested basis differences.

At August 31, 2019 and August 25, 2018, the Company had deferred tax assets of $29.9 million and $30.9 million, respectively, from net operating loss (“NOL”) carryforwards available to reduce future taxable income totaling approximately $226.3 million and $219.1 million, respectively. Certain NOLs have no expiration date and others will expire, if not utilized, in various years from

fiscal

2020

through

2039

. At August 31, 2019 and August 25, 2018, the Company had deferred tax assets for income tax credit carryforwards of $13.0 million and $16.3 million, respectively. Income tax credit carryforwards will expire, if not utilized, in various years from fiscal

2020

through

2029

At August 31, 2019 and August 25, 2018, the Company had a valuation allowance of $23.9 million and $19.6 million, respectively, on deferred tax assets associated with NOL and tax credit carryforwards for which management has determined it is more likely than not that the deferred tax asset will not be realized. Management believes it is more likely than not that the remaining deferred tax assets will be fully realized.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:


(in thousands)	August 31, 2019			August 25, 2018
Beginning balance	$	26,077		$	22,201
Additions based on tax positions related to the current year		8,621			8,184
Additions for tax positions of prior years		2,115			1,404
Reductions for tax positions of prior years		(1,219	)		(482	)
Reductions due to settlements		(1,918	)		(1,930	)
Reductions due to statute of limitations		(2,784	)		(3,300	)

Ending balance	$	30,892		$	26,077

Included in the August 31, 2019 and the August 25, 2018 balances are $16.8 million and $13.5 million, respectively, of unrecognized tax benefits that, if recognized, would reduce the Company’s effective tax rate.

The balances above also include amounts totaling $11.9 million and $10.3 million for August 31, 2019 and August 25, 2018, respectively, that are accounted for as reductions to deferred tax assets for NOL carryforwards and tax credit carryforwards. It is anticipated that in the event the associated uncertain tax positions are disallowed, the NOL carryforwards and tax credit carryforwards would be utilized to settle the liability.

The Company accrues interest on unrecognized tax benefits as a component of income tax expense. Penalties, if incurred, would be recognized as a component of income tax expense. The Company had $1.4 million and $0.7 million accrued for the payment of interest and penalties associated with unrecognized tax benefits at August 31, 2019 and August 25, 2018, respectively.

The Company files U.S. federal, U.S. state and local, and international income tax returns. With few exceptions, the Company is no longer subject to U.S. federal, U.S. state and local, or

Non-U.S.

examinations by tax authorities for fiscal year 2013 and prior. The Company is typically engaged in various tax examinations at any given time by U.S. federal, U.S. state and local, and

Non-U.S.

taxing jurisdictions. As of August 31, 2019, the Company estimates that the amount of unrecognized tax benefits could be reduced by approximately $1.4 million over the next twelve months as a result of tax audit settlements. While the Company believes that it is adequately accrued for possible audit adjustments, the final resolution of these examinations cannot be determined at this time and could result in final settlements that differ from current estimates.

Fair Value Measurements

12 Months Ended

Aug. 31, 2019

Fair Value Disclosures [Abstract]

Fair Value Measurements

Note E – Fair Value Measurements

The Company defines fair value as the price received to transfer an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In accordance with ASC 820,

Fair Value Measurements and Disclosures

, the Company uses the fair value hierarchy, which prioritizes the inputs used to measure fair value. The hierarchy, as defined below, gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three levels of the fair value hierarchy are set forth below:

Level

1 inputs

— unadjusted quoted prices in active markets for identical assets or liabilities that the Company can access at the measurement date.

Level

2 inputs

— inputs other than quoted market prices included within Level 1 that are observable, either directly or indirectly, for the asset or liability.

Level

3 inputs

— unobservable inputs for the asset or liability, which are based on the Company’s own assumptions as there is little, if any, observable activity in identical assets or liabilities.

Marketable Debt Securities Measured at Fair Value on a Recurring Basis

The Company’s marketable debt securities measured at fair value on a recurring basis were as follows:


	August 31, 2019
(in thousands)	Level 1		Level 2		Level 3		Fair Value
Other current assets	$	65,344	$	2,614	$	—	$	67,958
Other long-term assets		65,573		5,395		—		70,968

	$	130,917	$	8,009	$	—	$	138,926


	August 25, 2018
(in thousands)	Level 1		Level 2		Level 3		Fair Value
Other current assets	$	55,711	$	3,733	$	—	$	59,444
Other long-term assets		58,973		16,259		—		75,232

	$	114,684	$	19,992	$	—	$	134,676

At August 31, 2019, the fair value measurement amounts for assets and liabilities recorded in the accompanying Consolidated Balance Sheet consisted of short-term marketable debt securities of $68.0 million, which are included within Other current assets and long-term marketable debt securities of $71.0 million, which are included in Other long-term assets. The Company’s marketable debt securities are typically valued at the closing price in the principal active market as of the last business day of the quarter or through the use of other market inputs relating to the debt securities, including benchmark yields and reported trades.

A discussion on how the Company’s cash flow hedges are valued is included in “Note H – Derivative Financial Instruments,” while the fair values of the marketable debt securities by asset class are described in “Note F – Marketable Debt Securities.”

Non-Financial

Assets Measured at Fair Value on a

Non-Recurring

Basis

Certain non-financial assets

and liabilities are required to be measured at fair value on

a non-recurring basis

in certain circumstances, including the event of impairment.

These non-financial assets

and liabilities could include assets and liabilities acquired in an acquisition as well as goodwill, intangible assets and property, plant and equipment that are determined to be impaired. At August 31, 2019, the Company did not have any other

significant non-financial assets

or liabilities that had been measured at fair value on

a non-recurring basis

subsequent to initial recognition.

Financial Instruments not Recognized at Fair Value

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Marketable Debt Securities

12 Months Ended

Aug. 31, 2019

Investments, Debt and Equity Securities [Abstract]

Marketable Debt Securities

Note F – Marketable Debt Securities

The Company’s basis for determining the cost of a security sold is the “Specific Identification Model.” Unrealized gains (losses) on marketable debt securities are recorded in Accumulated Other Comprehensive Loss. The Company’s

available-for-sale

marketable debt securities consisted of the following:


	August 31, 2019
(in thousands )	Amortized Cost Basis		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Corporate debt securities	$	36,998	$	29	$	(19	)	$	37,008
Government bonds		45,741		763		—			46,504
Mortgage-backed securities		2,089		2		(15	)		2,076
Asset-backed securities and other		53,345		—		(7	)		53,338

	$	138,173	$	794	$	(41	)	$	138,926


	August 25, 2018
(in thousands )	Amortized Cost Basis		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Corporate debt securities	$	50,306	$	—	$	(684	)	$	49,622
Government bonds		28,777		—		(173	)		28,604
Mortgage-backed securities		3,248		—		(90	)		3,158
Asset-backed securities and other		53,445		—		(153	)		53,292

	$	135,776	$	—	$	(1,100	)	$	134,676

The marketable debt securities held at August 31, 2019, had effective maturities ranging from

less than one year to approximately three years

The Company did not realize any material gains or losses on its marketable debt securities during fiscal 2019, 2018 or 2017.

The Company holds 48 securities that are in an unrealized loss position of approximately $41 thousand at August 31, 2019. The Company has the intent and ability to hold these investments until recovery of fair value or maturity, and does not deem the investments to be impaired on an other than temporary basis. In evaluating whether the securities are deemed to be impaired on an other than temporary basis, the Company considers factors such as the duration and severity of the loss position, the credit worthiness of the investee, the term to maturity and its intent and ability to hold the investments until maturity or until recovery of fair value.

Included above in total marketable debt securities are $89.2 million and $85.6 million of marketable debt securities transferred by the Company’s insurance captive to a trust account to secure its obligations to an insurance company related to future workers’ compensation and casualty losses as of August 31, 2019 and August 25, 2018, respectively.

Accumulated Other Comprehensive Loss

12 Months Ended

Aug. 31, 2019

Equity [Abstract]

Accumulated Other Comprehensive Loss

Note G – Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss includes certain adjustments to pension liabilities, foreign currency translation adjustments, certain activity for interest rate swaps and treasury rate locks that qualify as cash flow hedges and unrealized gains (losses) on

available-for-sale

debt securities. Changes in Accumulated Other Comprehensive Loss consisted of the following:


(in thousands)	Pension Liability			Foreign Currency (2)			Net Unrealized Gain (Loss) on Securities			Derivatives			Total
Balance at August 26, 2017	$	(72,376	)	$	(175,814	)	$	(11	)	$	(6,356	)	$	(254,557	)
Other comprehensive income (loss) before reclassifications		77,774			(53,085	)		(800	)		—			23,889
Amounts reclassified from Accumulated Other Comprehensive Loss (1)		7,724	(4)		—			(62	) (5)		1,690	(6)		9,352
Adoption of ASU 2018-02 (3)		(13,122	)		—			—			(1,367	)		(14,489	)

Balance at August 25, 2018		—			(228,899	)		(873	)		(6,033	)		(235,805	)
Other Comprehensive (Loss) income before reclassifications		—			(36,699	)		1,498			—			(35,201	)
Amounts reclassified from Accumulated Other Comprehensive Loss (1)		—			—			(34	) (5)		1,718	(6)		1,684

Balance at August 31, 2019	$	—		$	(265,598	)	$	591		$	(4,315	)	$	(269,322	)

(1)	Amounts in parentheses indicate debits to Accumulated Other Comprehensive Loss (AOCL).

(2)	Foreign currency is shown net of U.S. tax to account for foreign currency impacts of certain undistributed non-U.S. subsidiaries earnings. Other foreign currency is not shown net of additional U.S. tax as other basis differences of non-U.S. subsidiaries are intended to be permanently reinvested.

(3)	Represents the tax effects from deferred tax items reclassified from AOCL to retained earnings related to the adoption of ASU 2018-02.

(4)

The amounts reclassified from AOCL associated with our pension plans have been reclassified to Operating, selling, general and administrative expenses on the Consolidated Statements of Income as a result of the termination of the plans. See “Note L – Pension and Savings Plans” for further discussion.

(5)

Represents realized gains on marketable debt securities, net of taxes of $389 in fiscal 2019 and realized losses on marketable debt securities, net of tax

benefit

of $234 in fiscal 2018, which is recorded in Operating, selling, general, and administrative expenses on the Consolidated Statements of Income. See “Note F – Marketable Debt Securities” for further discussion.

(6)	Represents gains and losses on derivatives, net of taxes of $530 in fiscal 2019 and $515 in fiscal 2018, which is recorded in Interest expense, net, on the Consolidated Statements of Income. See “Note H – Derivative Financial Instruments” for further discussion.

Derivative Financial Instruments

12 Months Ended

Aug. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

Note H – Derivative Financial Instruments

The Company periodically uses derivatives to hedge exposures to interest rates. The Company does not hold or issue financial instruments for trading purposes. For transactions that meet the hedge accounting criteria, the Company formally designates and documents the instrument as a hedge at inception and quarterly thereafter assesses the hedges to ensure they are effective in offsetting changes in the cash flows of the underlying exposures. Derivatives are recorded in the Company’s Consolidated Balance Sheet at fair value, determined using available market information or other appropriate valuation methodologies. In accordance with ASC Topic 815,

Derivatives and Hedging

, the effective portion of a financial instrument’s change in fair value is recorded in Accumulated Other Comprehensive Loss for derivatives that qualify as cash flow hedges and any ineffective portion of an instrument’s change in fair value is recognized in earnings.

At August 31, 2019, the Company had $5.6 million recorded in Accumulated Other Comprehensive Loss related to net realized losses associated with terminated interest rate swap and treasury rate lock derivatives which were designated as hedging instruments. Net losses are amortized into Interest expense over the remaining life of the associated debt. During the fiscal 2019 and 2018, the Company reclassified $2.2 million of net losses from Accumulated Other Comprehensive Loss to Interest expense and expects the same level of expense in fiscal 2020.

Financing

12 Months Ended

Aug. 31, 2019

Debt Disclosure [Abstract]

Financing

Note I – Financing

The Company’s debt consisted of the following:


(in thousands)	August 31, 2019		August 25, 2018
1.625% Senior Notes due April 2019, effective interest rate of 1.77%	$	—	$	250,000
4.000% Senior Notes due November 2020, effective interest rate of 4.43%		500,000		500,000
2.500% Senior Notes due April 2021, effective interest rate of 2.62%		250,000		250,000
3.700% Senior Notes due April 2022, effective interest rate of 3.85%		500,000		500,000
2.875% Senior Notes due January 2023, effective interest rate of 3.21%		300,000		300,000
3.125% Senior Notes due July 2023, effective interest rate of 3.26%		500,000		500,000
3.125% Senior Notes due April 2024, effective interest rate 3.32%		300,000		—
3.250% Senior Notes due April 2025, effective interest rate 3.36%		400,000		400,000
3.125% Senior Notes due April 2026, effective interest rate of 3.28%		400,000		400,000
3.750% Senior Notes due June 2027, effective interest rate of 3.83%		600,000		600,000
3.750% Senior Notes due April 2029, effective interest rate of 3.86%		450,000		—
Commercial paper, weighted average interest rate of 2.28% and 2.29% at August 31, 2019 and August 25, 2018, respectively		1,030,000		1,325,300

Total debt before discounts and debt issuance costs		5,230,000		5,025,300
Less: Discounts and debt issuance costs		23,656		19,370

Long-term debt	$	5,206,344	$	5,005,930

As of August 31, 2019, the commercial paper borrowings are classified as long-term in the accompanying Consolidated Balance Sheets as the Company has the ability and intent to refinance on a long-term basis through available capacity in its revolving credit facilities. As of August 31, 2019, the Company had $1.997 billion of availability under its $2.0 billion revolving credit facilities, which would allow it to replace these short-term obligations with long-term financing facilities.

The Company entered into a Master Extension, New Commitment and Amendment Agreement dated as of November 18, 2017 (the “Extension Amendment”) to the Third Amended and Restated Credit Agreement dated as of November 18, 2016, as amended, modified, extended or restated from time to time (the “Revolving Credit Agreement”). Under the Extension Amendment: (i) the Company’s borrowing capacity under the Revolving Credit Agreement was increased from $1.6 billion to $2.0 billion; (ii) the Company’s option to increase its borrowing capacity under the Revolving Credit Agreement was “refreshed” and the amount of such option remained at $400 million; (iii) the maximum borrowing under the Revolving Credit Agreement may, at the Company’s option, subject to lenders approval, be increased from $2.0 billion to $2.4 billion; (iv) the termination date of the Revolving Credit Agreement was extended from November 18, 2021 until November 18, 2022; and (v) the Company has the option to make one additional written request of the lenders to extend the termination date then in effect for an additional year. Under the Revolving Credit Agreement, the Company may borrow funds consisting of Eurodollar loans, base rate loans or a combination of both. Interest accrues on Eurodollar loans at a defined Eurodollar rate, defined as LIBOR plus the applicable percentage, as defined in the Revolving Credit Agreement, depending upon the Company’s senior, unsecured,

(non-credit

enhanced) long-term debt ratings. Interest accrues on base rate loans as defined in the Revolving Credit Agreement. As of August 31, 2019, the Company had

no borrowings outstanding and

$3.3 million of outstanding letters of credit under the Revolving Credit Agreement.

The Revolving Credit Agreement requires that the Company’s consolidated interest coverage ratio as of the last day of each quarter shall be no less than 2.5:1. This ratio is defined as the ratio of (i) consolidated earnings before interest, taxes and rents to (ii) consolidated interest expense plus consolidated rents. The Company’s consolidated interest coverage ratio as of August 31, 2019 was 5.7:1.

The Company also maintains a letter of credit facility that allows it to request the participating bank to issue letters of credit on its behalf up to an aggregate amount of $25 million. The letter of credit facility is in addition to the letters of credit that may be issued under the Revolving Credit Agreement. In fiscal 2019, the Company amended the existing letter of credit facility to decrease the amount that can be requested in letters of credit from $75 million to $25 million effective June 2019. This amendment also extended the maturity date from June 2019 to June 2022. As of August 31, 2019, the Company had $25.0 million in letters of credit outstanding under the letter of credit facility.

In addition to the outstanding letters of credit issued under the committed facilities discussed above, the Company had $72.9 million in letters of credit outstanding as of August 31, 2019. These letters of credit have various maturity dates and were issued on an uncommitted basis.

On April 18, 2019, the Company issued $300 million in 3.125% Senior Notes due April 2024 and $450 million in 3.750% Senior Notes due April 2029 under its automatic shelf registration statement on Form

S-3,

filed with the SEC on April 4, 2019 (File

No. 333-230719)

(the “2019 Shelf Registration”).

Proceeds from the debt issuance were used to repay a portion of the outstanding commercial paper borrowings, the $250 million in 1.625% Senior Notes due in April 2019 and for other general corporate purposes.

On April 18, 2017, the Company issued $600 million in 3.750% Senior Notes due June 2027 under its shelf registration statement filed with the SEC on April 15, 2015 (the “2015 Shelf Registration”).

Proceeds from the debt issuance were used for general corporate purposes.

All senior notes are subject to an interest rate adjustment if the debt ratings assigned to the senior notes are downgraded (as defined in the agreements). Further, the senior notes contain a provision that repayment of the senior notes may be accelerated if the Company experiences a change in control (as defined in the agreements). The Company’s borrowings under its senior notes contain minimal covenants, primarily restrictions on liens. Under its revolving credit facilities, covenants include restrictions on liens, a maximum debt to earnings ratio, a minimum fixed charge coverage ratio and a change of control provision that may require acceleration of the repayment obligations under certain circumstances. All of the repayment obligations under its borrowing arrangements may be accelerated and come due prior to the scheduled payment date if covenants are breached or an event of default occurs.

As of August 31, 2019, the Company was in compliance with all covenants related to its borrowing arrangements. All of the Company’s debt is unsecured. Scheduled maturities of debt are as follows:


(in thousands)	Scheduled Maturities
2020	$	1,030,000
2021		750,000
2022		500,000
2023		800,000
2024		300,000
Thereafter		1,850,000

Subtotal		5,230,000
Discount and debt issuance costs		23,656

Total Debt	$	5,206,344

The fair value of the Company’s debt was estimated at $5.419 billion as of August 31, 2019, and $4.948 billion as of August 25, 2018, based on the quoted market prices for the same or similar issues or on the current rates available to the Company for debt of the same terms (Level 2). Such fair value is greater than the carrying value of debt by $212.7 million at August 31, 2019, which reflects face amount, adjusted for any unamortized debt issuance costs and discounts. At August 25, 2018, the fair value was less than the carrying value of debt by $57.5 million.

Interest Expense

12 Months Ended

Aug. 31, 2019

Banking and Thrift, Interest [Abstract]

Interest Expense

Note J – Interest Expense

Net interest expense consisted of the following:


	Year Ended
(in thousands)	August 31, 2019			August 25, 2018			August 26, 2017
Interest expense	$	193,671		$	181,668		$	159,329
Interest income		(7,396	)		(5,636	)		(3,502	)
Capitalized interest		(1,471	)		(1,505	)		(1,247	)

	$	184,804		$	174,527		$	154,580

Stock Repurchase Program

12 Months Ended

Aug. 31, 2019

Equity [Abstract]

Stock Repurchase Program

Note K – Stock Repurchase Program

During 1998, the Company announced a program permitting the Company to repurchase a portion of its outstanding shares not to exceed a dollar maximum established by the Board. The program was amended on September 26, 2018 to increase the repurchase authorization to $20.9 billion from $19.65 billion and on March 20, 2019 to increase the repurchase authorization to $21.9 billion from $20.9 billion. From January 1998 to August 31, 2019, the Company has repurchased a total of 146.9 million shares at an aggregate cost of $21.423 billion.

The Company’s share repurchase activity consisted of the following:


	Year Ended
(in thousands)	August 31, 2019		August 25, 2018		August 26, 2017
Amount	$	2,004,896	$	1,592,013	$	1,071,649
Shares		2,182		2,398		1,495

During fiscal year 2019, the Company retired 2.6 million shares of treasury stock which had previously been repurchased under the Company’s share repurchase program. The retirement increased Retained deficit by $1.707 billion and decreased Additional

paid-in

capital by $125.4 million. During the comparable prior year period, the Company retired 1.5 million shares of treasury stock, which increased Retained deficit by $918.5 million and decreased Additional

paid-in

capital by $60.5 million.

On October 7, 2019, the Board voted to authorize the repurchase of an additional $1.25 billion of the Company’s common stock in connection with our ongoing share repurchase program. Since the inception of the repurchase program in 1998, the Board has authorized $23.2 billion in share repurchases. Subsequent to August 31, 2019, the Company has repurchased

259,384

shares of common stock at an aggregate cost of $

284.6

million. Considering the cumulative repurchases and the increase in authorization subsequent to August 31, 2019, we have $

1.44

billion remaining under the Board’s authorization to repurchase its common stock.

Pension and Savings Plans

12 Months Ended

Aug. 31, 2019

Retirement Benefits [Abstract]

Pension and Savings Plans

Note L – Pension and Savings Plans

Prior to January 1, 2003, substantially all full-time employees were covered by a defined benefit pension plan. The benefits under the plan were based on years of service and the employee’s highest consecutive five-year average compensation. On January 1, 2003, the plan was frozen, resulting in pension plan participants earning no new benefits under the plan formula and no new participants joining the pension plan.

On January 1, 2003, the Company’s supplemental defined benefit pension plan for certain highly compensated employees was also frozen, resulting in pension plan participants earning no new benefits under the plan formula and no new participants joining the pension plan.

On December 19, 2017, the Board of Directors approved a resolution to terminate both of the Company’s pension plans, effective March 15, 2018. The Company offered plan participants the option to receive an annuity purchased from an insurance carrier or a

lump-sum

cash payment based on a number of factors. During the fourth quarter of 2018, the Company contributed $11.4 million to the pension plans to ensure that sufficient assets were available for the

lump-sum

payments and annuity purchases, completed the transfer of all lump sum payments, transferred all remaining benefit obligations related to the pension plans to a highly rated insurance company, and recognized $130.3 million of

non-cash

pension termination charges in Operating, selling, general and administrative expenses in the Consolidated Statements of Income. During fiscal 2019, the Company received a refund of $6.8 million related primarily to annuity purchase overpayments, recorded in Operating, selling, general and administrative expenses, net within the Consolidated statements of

ncome. There are no actuarial assumptions reflected in any pension plans estimates. The Company will no longer have any remaining defined pension benefit obligation and thus no periodic pension benefit expense.

The following table sets forth the plans’ funded status:


(in thousands)	August 25, 2018 (1)
Change in Projected Benefit Obligation:
Projected benefit obligation at beginning of year	$	314,724
Interest cost		10,356
Actuarial (gains) losses		(676	)
Annuities purchased		(157,589	)
Benefits and settlements paid		(166,815	)

Benefit obligations at end of year	$	—

Change in Plan Assets:
Fair value of plan assets at beginning of year	$	316,267
Actual return on plan assets		(3,428	)
Employer contributions		11,596
Annuities purchased		(157,589	)
Benefits and settlements paid		(166,815	)
Asset reversion upon termination		(31	)

Fair value of plan assets at end of year	$	—

(1)	The pension plans were terminated in fiscal 2018.

Net periodic benefit expense consisted of the following:


	Year Ended
(in thousands)	August 25, 2018 (1)			August 26, 2017
Interest cost	$	10,356		$	10,335
Expected return on plan assets		(18,997	)		(20,056	)
Recognized net actuarial losses		10,736			13,873
Settlement loss		130,263			—

Net periodic benefit expense	$	132,358		$	4,152

(1)	The pension plans were terminated in fiscal 2018.

The blended actuarial assumptions used in determining the projected benefit obligation include the following:


	Year Ended
	August 25, 2018 (1)			August 26, 2017
Discount rate to determine benefit obligation		3.86	%		3.86	%
Discount rate to determine net interest cost		3.36	%		3.21	%
Expected long-term rate of return on plan assets		6.00	%		7.00	%

(1)	The pension plans were terminated in fiscal 2018.

The Company has a 401(k) plan that covers all domestic employees who meet the plan’s participation requirements. The plan features include Company matching contributions, immediate 100% vesting of Company contributions and a savings option up to 25% of qualified earnings. The Company makes matching contributions, per pay period, up to a specified percentage of employees’ contributions as approved by the Board. The Company made matching contributions to employee accounts in connection with the 401(k) plan of $25.8 million in fiscal 2019, $23.1 million in fiscal 2018, and $21.0 million in fiscal 2017.

Sale of Assets

12 Months Ended

Aug. 31, 2019

Property, Plant and Equipment [Abstract]

Sale of Assets

Note M – Sale of Assets

During the second quarter of fiscal 2018, the Company determined that the approximate fair value less costs to sell its IMC and AutoAnything businesses was significantly lower than the carrying value of the net assets based on recent offers received and recorded impairment charges totaling $193.2 million within Operating, selling, general and administrative expenses in its Condensed Consolidated Statements of Income.

The Company recorded an impairment charge of $93.6 million for its IMC business, which was reflected as a component of Auto Parts Locations in its segment reporting in fiscal 2018. Impairment charges for AutoAnything, which were reflected as a component of the Other category in the Company’s segment reporting, totaled $99.6 million in fiscal 2018.

During the third quarter of fiscal 2018, the Company completed the IMC and AutoAnything

sales

for total consideration that approximated the remaining net book value at the closing date.

Goodwill and Intangibles

12 Months Ended

Aug. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangibles

Note N – Goodwill and Intangibles

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


(in thousands)	Auto Parts Locations			Other			Total
Net balance as of August 26, 2017	$	326,703		$	65,184		$	391,887
Goodwill adjustments		(24,058	)		(65,184	)		(89,242	)

Net balance as of August 25, 2018 (1)		302,645			—			302,645
Goodwill adjustments		—			—			—

Net balance as of August 31, 2019	$	302,645		$	—		$	302,645

(1)	During the second quarter of fiscal 2018, the Company recorded impairment charges related to its IMC and AutoAnything businesses. See “Note M – Sale of Assets” for further discussion.

The Company performs its annual goodwill and intangibles impairment test in the fourth quarter of each fiscal year. In the fourth quarter of fiscal 2019 and 2018, the Company concluded its remaining goodwill was not impaired. Total accumulated goodwill impairment as of August 31, 2019 and August 25, 2018 was $107.5 million.

The carrying amounts of intangible assets are included in Other long-term assets as follows:


	August 31, 2019
(in thousands)	Estimated Useful Life		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Amortizing intangible assets:
Technology		3-5 years	$	870	$	(870	)	$	—
Customer relationships		3-10 years		29,376		(23,760	)		5,616

			$	30,246	$	(24,630	)		5,616

Total intangible assets other than goodwill								$	5,616


	August 25, 2018 (1)
(in thousands)	Estimated Useful Life		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Amortizing intangible assets:
Technology		3-5 years	$	870	$	(870	)	$	—
Customer relationships		3-10 years		29,376		(19,587	)		9,789

			$	30,246	$	(20,457	)		9,789

Total intangible assets other than goodwill								$	9,789

(1)

During the second quarter of fiscal 2018, the Company recorded $26.9 million of impairment charges related to AutoAnything’s and IMC’s trade names as the Company determined that the approximate fair value less costs to sell the businesses was significantly lower than the carrying value of the net assets. See “Note M – Sale of Assets” for further discussion. Trade names at August 25, 2018 reflect a total accumulated impairment of $31.0 million.

Amortization expense of intangible assets for the years ended August 31, 2019 and August 25, 2018 was $4.2 million and $5.1 million, respectively.

Total future amortization expense for intangible assets that have finite lives, based on the existing intangible assets and their current estimated useful lives as of August 31, 2019, is estimated as follows:


(in thousands)	Total
2020	$	4,173
2021		1,443
Thereafter		—

	$	5,616

Leases

12 Months Ended

Aug. 31, 2019

Leases [Abstract]

Leases

Note O – Leases

The Company leases some of its retail stores, distribution centers, facilities, land and equipment, including vehicles. Other than vehicle leases, most of the leases are operating leases, which include renewal options made at the Company’s election and provisions for percentage rent based on sales. Rental expense was $332.7 million in fiscal 2019, $315.6 million in fiscal 2018, and $302.9 million in fiscal 2017. Percentage rentals were insignificant.

The Company records rent for all operating leases on a straight-line basis over the lease term, including any reasonably assured renewal periods and the period of time prior to the lease term that the Company is in possession of the leased space for the purpose of installing leasehold improvements. Differences between recorded rent expense and cash payments are recorded as a liability in Accrued expenses and other and Other long-term liabilities in the accompanying Consolidated Balance Sheets, based on the terms of the lease. The deferred rent approximated $159.9 million on August 31, 2019, and $139.6 million on August 25, 2018.

The Company has a fleet of vehicles used for delivery to its commercial customers and stores and travel for members of field management. The majority of these vehicles are held under capital leases. At August 31, 2019, the Company had capital lease assets of $182.0 million, net of accumulated amortization of $81.2 million, and capital lease obligations of $179.9 million, of which $56.2 million is classified as Accrued expenses and other as it represents the current portion of these obligations. At August 25, 2018, the Company had capital lease assets of $156.8 million, net of accumulated amortization of $79.9 million, and capital lease obligations of $154.3 million, of which $52.3 million is classified as Accrued expenses and other as it represents the current portion of these obligations.

Future minimum annual rental commitments under

non-cancelable

operating leases and capital leases were as follows at the end of fiscal 2019:


(in thousands)	Operating Leases		Capital Leases
2020	$	315,424	$	56,246
2021		302,056		51,679
2022		281,287		39,094
2023		252,868		28,401
2024		221,213		7,300
Thereafter		824,244		—

Total minimum payments required	$	2,197,092		182,720

Less: Interest				(2,815	)

Present value of minimum capital lease payments			$	179,905

Commitments and Contingencies

12 Months Ended

Aug. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note P – Commitments and Contingencies

Construction commitments, primarily for new stores, totaled approximately $38.0 million at August 31, 2019.

The Company had $101.2 million in outstanding standby letters of credit and $36.7 million in surety bonds as of August 31, 2019, which all have expiration periods of less than one year. A substantial portion of the outstanding standby letters of credit (which are primarily renewed on an annual basis) and surety bonds are used to cover reimbursement obligations to our workers’ compensation carriers. There are no additional contingent liabilities associated with these instruments as the underlying liabilities are already reflected in the Consolidated Balance Sheets. The standby letters of credit and surety bonds arrangements have automatic renewal clauses.

Litigation

12 Months Ended

Aug. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Litigation

Note Q – Litigation

In July 2014, we received a subpoena from the District Attorney of the County of Alameda, along with other environmental prosecutorial offices in the State of California, seeking documents and information related to the handling, storage and disposal of hazardous waste; a Complaint regarding the matter was subsequently filed by the District Attorney and the State Attorney General’s Office. The Company cooperated fully with the District Attorney and the State Attorney General’s Office to resolve the matter in fiscal 2019 without a finding of liability on the part of the Company. The amount the Company agreed to pay was within the amount previously accrued by the Company for the matter.

Arising out of an April 2016 letter from the California Air Resources Board (“CARB”), one of our formerly-owned subsidiaries was sued in March 2018 by CARB and the State of California seeking penalties, among other relief, for alleged violations of the California Health and Safety Code, Title 13 of the California Code of Regulations and the California Vehicle Code related to the sale and advertisement of certain aftermarket motor vehicle pollution control parts in the State of California. On February 26, 2018, we completed our transaction to sell substantially all the assets, net of assumed liabilities related to our AutoAnything operations. As part of the sale, we retained the liability related to this lawsuit. The Company cooperated fully with CARB and the State Attorney General’s Office to resolve the matter in fiscal 2019 without a finding of liability on the part of the Company. The amount the Company agreed to pay was within the amount previously accrued by the Company for the matter.

The Company is involved in various other legal proceedings incidental to the conduct of its business, including, but not limited to, several lawsuits containing class-action allegations in which the plaintiffs are current and former hourly and salaried employees who allege various wage and hour violations and unlawful termination practices. The Company does not currently believe that, either individually or in the aggregate, these matters will result in liabilities material to the Company’s financial condition, results of operations or cash flows.

Revenue Recognition

12 Months Ended

Aug. 31, 2019

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Note R – Revenue Recognition

The Company adopted ASU

2014-09,

Revenue from Contracts with Customers using the modified retrospective method beginning with our first quarter ending November 17, 2018. The cumulative effect of initially applying ASU

2014-09

resulted in an increase to the opening retained deficit balance of $6.8 million, net of taxes at August 26, 2018, and a related adjustment to accounts receivable, other current assets, other long-term assets, other current liabilities and deferred income taxes as of that date. Revenue for periods prior to August 26, 2018 were not adjusted and continue to be reported under the accounting standards in effect for the prior periods.

There were no material contract assets, contract liabilities or deferred contract costs recorded on the Condensed Consolidated Balance Sheet as of August 31, 2019. Revenue related to unfulfilled performance obligations as of August 31, 2019 is not significant. Refer to “Note S – Segment Reporting” for additional information related to revenue recognized during the period.

Segment Reporting

12 Months Ended

Aug. 31, 2019

Segment Reporting [Abstract]

Segment Reporting

Note S – Segment Reporting

The Company’s operating segments (Domestic Auto Parts, Mexico and Brazil; and IMC results through April 4, 2018) are aggregated as one reportable segment: Auto Parts Locations. The criteria the Company used to identify the reportable segment are primarily the nature of the products the Company sells and the operating results that are regularly reviewed by the Company’s chief operating decision maker to make decisions about the resources to be allocated to the business units and to assess performance. The accounting policies of the Company’s reportable segment are the same as those described in “Note A – Significant Accounting Policies.”

The Auto Parts Locations segment is a retailer and distributor of automotive parts and accessories through the Company’s 6,411 locations in the United States, Puerto Rico, Saint Thomas, Mexico and Brazil. Each location carries an extensive product line for cars, sport utility vehicles, vans and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories and

non-automotive

products.

The Other category reflects business activities of three operating segments that are not separately reportable due to the materiality of these operating segments. The operating segments include ALLDATA, which produces, sells and maintains diagnostic and repair information software used in the automotive repair industry;

E-commerce,

which includes direct sales to customers through www.autozone.com for sales that are not fulfilled by local stores; and AutoAnything, which includes direct sales to customers through www.autoanything.com, prior to the Company’s sale of substantially all of its assets on February 26, 2018.

The Company evaluates its reportable segment primarily on the basis of net sales and segment profit, which is defined as gross profit. The following table shows segment results for the following fiscal years:


	Year Ended
(in thousands)	August 31, 2019			August 25, 2018			August 26, 2017
Net Sales:
Auto Parts Locations	$	11,645,235		$	10,951,498		$	10,523,272
Other		218,508			269,579			365,404

Total	$	11,863,743		$	11,221,077		$	10,888,676

Segment Profit:
Auto Parts Locations	$	6,209,229		$	5,805,561		$	5,544,494
Other		155,772			168,185			195,126

Gross profit		6,365,001			5,973,746			5,739,620
Operating, selling, general and administrative expenses (1)		(4,148,864	)		(4,162,890	)		(3,659,551	)
Interest expense, net		(184,804	)		(174,527	)		(154,580	)

Income before income taxes	$	2,031,333		$	1,636,329		$	1,925,489

Segment Assets:
Auto Parts Locations	$	9,781,926		$	9,231,021		$	8,964,371
Other		113,987			115,959			295,410

Total	$	9,895,913		$	9,346,980		$	9,259,781

Capital Expenditures:
Auto Parts Locations	$	479,120		$	499,762		$	533,304
Other		16,930			22,026			20,528

Total	$	496,050		$	521,788		$	553,832

Auto Parts Locations Sales by Product Grouping:
Failure	$	5,728,294		$	5,338,890		$	5,100,702
Maintenance items		4,140,987			3,914,546			3,774,386
Discretionary		1,775,954			1,698,062			1,648,184

Auto Parts Locations net sales	$	11,645,235		$	10,951,498		$	10,523,272

(1)	Operating, selling, general and administrative expenses for fiscal 2018 include $130.3 million related to pension termination charges and $193.2 million related to impairment charges.

Quarterly Summary

12 Months Ended

Aug. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Quarterly Summary

Note T – Quarterly Summary

(1)

(Unaudited)


	Twelve Weeks Ended						Seventeen Weeks Ended
(in thousands, except per share data)	November 17, 2018		February 9, 2019		May 4, 2019		August 31, 2019 (2)
Net sales	$	2,641,733	$	2,450,568	$	2,783,006	$	3,988,435
Gross profit		1,417,474		1,325,107		1,492,020		2,130,400
Operating profit		487,818		400,020		547,523		780,775
Income before income taxes		448,812		358,658		504,284		719,578
Net income (5)		351,406		294 , 638		405,949		565,228
Basic earnings per share		13.71		11.71		16.35		23.15
Diluted earnings per share		13.47		11.49		15.99		22.59

	Twelve Weeks Ended						Sixteen Weeks Ended
(in thousands, except per share data)	November 18, 2017		February 10, 2018 (3)(5)		May 5, 2018 (5)		August 25, 2018 (2)(4)(5)
Net sales	$	2,589,131	$	2,413,026	$	2,660,152	$	3,558,769
Gross profit		1,365,848		1,277,046		1,422,974		1,907,879
Operating profit		468,754		205,098		545,765		591,239
Income before income taxes		429,865		165,758		503,807		536,899
Net income		281,003		289,530		366,721		400,282
Basic earnings per share		10.17		10.58		13.62		15.27
Diluted earnings per share		10.00		10.38		13.42		15.02

(1)	The sum of quarterly amounts may not equal the annual amounts reported due to rounding. In addition, the earnings per share amounts are computed independently for each quarter while the full year is based on the annual weighted average shares outstanding.

(2)	The fourth quarter for fiscal 2019 is based on a 17-week period while fiscal 2018 is based on a 16-week period. All other quarters presented are based on a 12-week period.

(3)	The second quarter of fiscal 2018 includes impairment charges of $193.2 million. See “Note M – Sale of Assets.”

(4)	The fourth quarter of fiscal 2018 includes pension termination charges of $130.3 million. See “Note L - Pension and Savings Plans.”

(5)	Net income of the second, third and fourth quarter of fiscal 2018 and all of fiscal 2019 benefitted from changes due to Tax Reform. See “Note D – Income Taxes.”

Significant Accounting Policies (Policies)

12 Months Ended

Aug. 31, 2019

Accounting Policies [Abstract]

Business

Business:

5,772

stores in the United States, including Puerto Rico and Saint Thomas;

604

stores in Mexico; and

non-automotive

Fiscal Year

Fiscal Year:

The Company’s fiscal year consists of 52 or 53 weeks ending on the last Saturday in August. Fiscal 2019 represented 53 weeks. Fiscal 2018 and 2017 represented 52 weeks.

Basis of Presentation

Basis of Presentation:

Use of Estimates

Use of Estimates:

Cash and Cash Equivalents

Cash and Cash Equivalents:

Cash equivalents consist of investments with original maturities of

90 days or less

at the date of purchase. Cash equivalents include proceeds due from credit and debit card transactions with settlement terms of

less than five days

. Credit and debit card receivables included within cash and cash equivalents were $59.4 million at August 31, 2019 and $51.0 million at August 25, 2018.

Cash balances are held in various locations around the world. Cash and cash equivalents of $

49.9

million and $98.8 million were held outside of the U.S. as of August 31, 2019, and August 25, 2018, respectively, and were generally utilized to support the liquidity needs in foreign operations.

Accounts Receivable

Accounts Receivable:

Merchandise Inventories

Merchandise Inventories:

Inventories are stated at the lower of cost or market. Merchandise inventories include related purchasing, storage and handling costs. Inventory cost has been determined using the

last-in,

first-out

$404.9 million at August 31, 2019, and $452.4 million at August 25, 2018.

Marketable Securities

Marketable Debt Securities:

The Company invests a portion of its assets held by the Company’s wholly owned insurance captive in marketable debt securities and classifies them as

available-for-sale.

Property and Equipment

Property and Equipment:

Property and equipment is stated at cost. Depreciation and amortization are computed principally using the straight-line method over the following estimated useful lives: buildings,

years; building improvements,

years; equipment, including software,

Impairment of Long-Lived Assets

Impairment of Long-Lived Assets:

Goodwill

Goodwill:

Intangible Assets

Intangible Assets:

Derivative Instruments and Hedging Activities

Derivative Instruments and Hedging Activities:

Foreign Currency

Foreign Currency:

The Company accounts for its Mexican, Brazilian, Canadian, European, Chinese and

German

Self-Insurance Reserves

Self-Insurance Reserves:

Deferred Rent

Deferred Rent:

Financial Instruments

Financial Instruments:

Income Taxes

Income Taxes:

The Company recognizes liabilities for uncertain income tax positions based on a

two-step

more than 50%

and new audit activity. Such a change in recognition or measurement could result in the recognition of a tax benefit or an increase to the tax accrual.

Sales and Use Taxes

Sales and Use Taxes:

Dividends

Dividends:

Revenue Recognition

Revenue Recognition:

E-commerce

orders when the product is shipped. Revenue from commercial customers is recognized upon delivery, typically

same-day.

Payment from retail customers is at the point of sale and payment terms for commercial customers are based on the Company’s

pre-established

Revenue Recognition” for further discussion.

Vendor Allowances and Advertising Costs

Vendor Allowances and Advertising Costs:

Cost of Sales and Operating, Selling, General and Administrative Expenses

Cost of Sales and Operating, Selling, General and Administrative Expenses:

The following illustrates the primary costs classified in each major expense category:

Cost of Sales

•

Total cost of merchandise sold, including:

•

Freight expenses associated with moving merchandise inventories from the Company’s vendors to the distribution centers;

•

Vendor allowances that are not reimbursements for specific, incremental and identifiable costs

•

Costs associated with operating the Company’s supply chain, including payroll and benefit costs, warehouse occupancy costs, transportation costs and depreciation; and

•

Inventory shrinkage

Operating, Selling, General and Administrative Expenses

•

Payroll and benefit costs for store, field leadership and store support employees;

•

Occupancy costs of store and store support facilities;

•

Depreciation and amortization related to store and store support assets;

•

Transportation costs associated with field leadership, commercial sales force and deliveries from stores;

•

Advertising;

•

Self

insurance costs; and

•

Other administrative costs, such as credit card transaction fees, legal costs, supplies and travel and lodging

Warranty Costs

Warranty Costs:

Shipping and Handling Costs

Shipping and Handling Costs:

The Company does not generally charge customers separately for shipping and handling. Substantially all the costs the Company incurs to ship products to our stores are included in cost of sales.

Pre-opening Expenses

Pre-opening

Expenses:

Pre-opening

expenses, which consist primarily of payroll and occupancy costs, are expensed as incurred.

Earnings per Share

Share-Based Payments

Share-Based Payments:

Risk and Uncertainties

Risk and Uncertainties:

Recently Adopted Accounting Pronouncements

Recently Adopted Accounting Pronouncements:

In May 2014, the Financial Accounting Standards Board (“FASB”) issued

ASU

2014-09,

Revenue from Contracts with Customers (Topic 606).

This ASU, along with subsequent ASUs issued to clarify certain provisions of ASU

2014-09,

while prior period amounts were not adjusted and continue to be reported under the accounting standards in effect for the prior periods. The cumulative effect of the adoption of ASU

2014-09

In October 2016, the FASB issued

ASU

2016-16,

Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other than Inventory

. ASU

2016-16

did not have an impact on the Company’s consolidated financial statements.

Recently Adopted and Recently Issued Accounting Pronouncements

Recently Issued Accounting Pronouncements:

In February 2016, the FASB issued

ASU

2016-02,

Leases (Topic 842),

which replaces the existing guidance in

Accounting Standard Codification 840 (“ASC 840”),

Leases and requires a

two-fold

right-of-use

2016-02

$2.5 billion to $2.8 billion on the date of adoption.

In June 2018, the FASB issued ASU

2018-07,

Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting

. ASU

2018-07

to have a material impact on its consolidated financial statements.

In August 2018, the FASB issued ASU

2018-15,

Intangibles – Goodwill and Other Internal Use Software (Subtopic

350-40):

Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract

internal-use

software. ASU

2018-15

In June 2016, the FASB issued ASU

2016-13,

Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments

which was subsequently amended in November 2018 through ASU

2018-19,

Codification Improvements to Topic 326, Financial Instruments Credit Losses.

ASU

2016-13

Share-Based Payments (Tables)

12 Months Ended

Aug. 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Weighted Average for Key Assumptions Used in Determining Fair Value of Options Granted and Related Share-Based Compensation Expense

The following table presents the weighted average for key assumptions used in determining the fair value of options granted and the related share-based compensation expense:


	Year Ended
	August 31, 2019			August 25, 2018			August 26, 2017
Expected price volatility		21	%		20	%		18	%
Risk-free interest rates		3.0	%		1.9	%		1.2	%
Weighted average expected lives (in years)		5.6			5.1			5.1
Forfeiture rate		10	%		10	%		10	%
Dividend yield		0	%		0	%		0	%

Stock Option Activity

The following table summarizes information about stock option activity for the year ended August 31, 2019:


	Number of Shares			Weighted Average Exercise Price		Weighted- Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding – August 25, 2018		1,706,866		$	534.74
Granted		172,750			774.33
Exercised		(471,216	)		413.60
Cancelled		(59,089	)		679.92

Outstanding – August 31, 2019		1,349,311			601.36		6.08	$	675,097

Exercisable		793,266			528.85		4.88		454,415

Expected to vest		500,441			704.81		7.80		198,614

Available for future grants		547,519

Schedule of Nonvested Restricted Stock Units Activity

Transactions related to restricted stock units for the fiscal year ended August 31, 2019 as follow:


	Number of Shares			Weighted- Average Grant Date Fair Value
Nonvested at August 25, 2018		—			—
Granted		13,021		$	786.08
Vested		(2,514	)		838.34
Canceled or forfeited		(458	)		772.80

Nonvested at August 31, 2019		10,049		$	773.61

Accrued Expenses and Other (Tables)

12 Months Ended

Aug. 31, 2019

Payables and Accruals [Abstract]

Accrued Expenses

Accrued expenses and other consisted of the following:


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

	$	621,932	$	606,894

Income Taxes (Tables)

12 Months Ended

Aug. 31, 2019

Income Tax Disclosure [Abstract]

Components of Income from Continuing Operations

The components of income from continuing operations before income taxes are as follows:


	Year Ended
(in thousands)	August 31, 2019		August 25, 2018		August 26, 2017
Domestic	$	1,745,625	$	1,412,963	$	1,737,401
International		285,708		223,366		188,088

	$	2,031,333	$	1,636,329	$	1,925,489

Provision for Income Tax Expense

The provision for income tax expense consisted of the following:


	Year Ended
(in thousands)	August 31, 2019		August 25, 2018			August 26, 2017
Current:
Federal	$	274,504	$	328,963		$	487,492
State		45,457		36,389			31,733
International		59,100		57,702			50,493

		379,061		423,054			569,718
Deferred:
Federal		25,757		(131,926	)		72,208
State		6,914		8,167			7,769
International		2,380		(502	)		(5,075	)

		35,051		(124,261	)		74,902

Income tax expense	$	414,112	$	298,793		$	644,620

Reconciliation of Provision for Income Taxes

A reconciliation of the provision for income taxes to the amount computed by applying the federal statutory tax rate to income before income taxes is as follows:


	Year Ended
(in thousands)	August 31, 2019			August 25, 2018			August 26, 2017
Federal tax at statutory U.S. income tax rate		21.0%			25.9%			35.0%
State income taxes, net		2.0%			1.9%			1.3%
Transition tax		—			1.6%			—
Share-based compensation		(1.8%	)		(1.6%	)		(1.4%	)
Impact of tax reform		(0.4%	)		(9.6%	)		—
Other		(0.4%	)		0.1%			(1.4%	)

Effective tax rate		20.4%			18.3%			33.5%

Significant Components of Company's Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities were as follows:


(in thousands)	August 31, 2019			August 25, 2018
Deferred tax assets:
Net operating loss and credit carryforwards	$	42,958		$	47,190
Accrued benefits		58,900			62,867
Other		59,237			46,375

Total deferred tax assets		161,095			156,432
Less: Valuation allowances		(23,923	)		(19,619	)

Net deferred tax assets		137,172			136,813
Deferred tax liabilities:
Property and equipment		(114,956	)		(101,049	)
Inventory		(259,827	)		(242,138	)
Prepaid expenses		(46,487	)		(42,019	)
Other		(1,021	)		(2,191	)

Total deferred tax liabilities		(422,291	)		(387,397	)

Net deferred tax liabilities	$	(285,119	)	$	(250,584	)

Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:


(in thousands)	August 31, 2019			August 25, 2018
Beginning balance	$	26,077		$	22,201
Additions based on tax positions related to the current year		8,621			8,184
Additions for tax positions of prior years		2,115			1,404
Reductions for tax positions of prior years		(1,219	)		(482	)
Reductions due to settlements		(1,918	)		(1,930	)
Reductions due to statute of limitations		(2,784	)		(3,300	)

Ending balance	$	30,892		$	26,077

Fair Value Measurements (Tables)

12 Months Ended

Aug. 31, 2019

Fair Value Disclosures [Abstract]

Company's marketable debt securities measured at Fair Value on Recurring Basis

The Company’s marketable debt securities measured at fair value on a recurring basis were as follows:


	August 31, 2019
(in thousands)	Level 1		Level 2		Level 3		Fair Value
Other current assets	$	65,344	$	2,614	$	—	$	67,958
Other long-term assets		65,573		5,395		—		70,968

	$	130,917	$	8,009	$	—	$	138,926


	August 25, 2018
(in thousands)	Level 1		Level 2		Level 3		Fair Value
Other current assets	$	55,711	$	3,733	$	—	$	59,444
Other long-term assets		58,973		16,259		—		75,232

	$	114,684	$	19,992	$	—	$	134,676

Marketable Debt Securities (Tables)

12 Months Ended

Aug. 31, 2019

Investments, Debt and Equity Securities [Abstract]

Available-for-Sale Marketable Securities

The Company’s

available-for-sale

marketable debt securities consisted of the following:


	August 31, 2019
(in thousands )	Amortized Cost Basis		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Corporate debt securities	$	36,998	$	29	$	(19	)	$	37,008
Government bonds		45,741		763		—			46,504
Mortgage-backed securities		2,089		2		(15	)		2,076
Asset-backed securities and other		53,345		—		(7	)		53,338

	$	138,173	$	794	$	(41	)	$	138,926


	August 25, 2018
(in thousands )	Amortized Cost Basis		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Corporate debt securities	$	50,306	$	—	$	(684	)	$	49,622
Government bonds		28,777		—		(173	)		28,604
Mortgage-backed securities		3,248		—		(90	)		3,158
Asset-backed securities and other		53,445		—		(153	)		53,292

	$	135,776	$	—	$	(1,100	)	$	134,676

Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Aug. 31, 2019

Equity [Abstract]

Changes in Accumulated Other Comprehensive Loss

Changes in Accumulated Other Comprehensive Loss consisted of the following:


(in thousands)	Pension Liability			Foreign Currency (2)			Net Unrealized Gain (Loss) on Securities			Derivatives			Total
Balance at August 26, 2017	$	(72,376	)	$	(175,814	)	$	(11	)	$	(6,356	)	$	(254,557	)
Other comprehensive income (loss) before reclassifications		77,774			(53,085	)		(800	)		—			23,889
Amounts reclassified from Accumulated Other Comprehensive Loss (1)		7,724	(4)		—			(62	) (5)		1,690	(6)		9,352
Adoption of ASU 2018-02 (3)		(13,122	)		—			—			(1,367	)		(14,489	)

Balance at August 25, 2018		—			(228,899	)		(873	)		(6,033	)		(235,805	)
Other Comprehensive (Loss) income before reclassifications		—			(36,699	)		1,498			—			(35,201	)
Amounts reclassified from Accumulated Other Comprehensive Loss (1)		—			—			(34	) (5)		1,718	(6)		1,684

Balance at August 31, 2019	$	—		$	(265,598	)	$	591		$	(4,315	)	$	(269,322	)

(1)	Amounts in parentheses indicate debits to Accumulated Other Comprehensive Loss (AOCL).

(2)	Foreign currency is shown net of U.S. tax to account for foreign currency impacts of certain undistributed non-U.S. subsidiaries earnings. Other foreign currency is not shown net of additional U.S. tax as other basis differences of non-U.S. subsidiaries are intended to be permanently reinvested.

(3)	Represents the tax effects from deferred tax items reclassified from AOCL to retained earnings related to the adoption of ASU 2018-02.

(4)

(5)

Represents realized gains on marketable debt securities, net of taxes of $389 in fiscal 2019 and realized losses on marketable debt securities, net of tax

benefit

(6)	Represents gains and losses on derivatives, net of taxes of $530 in fiscal 2019 and $515 in fiscal 2018, which is recorded in Interest expense, net, on the Consolidated Statements of Income. See “Note H – Derivative Financial Instruments” for further discussion.

Financing (Tables)

12 Months Ended

Aug. 31, 2019

Debt Disclosure [Abstract]

Schedule of Debt

The Company’s debt consisted of the following:


(in thousands)	August 31, 2019		August 25, 2018
1.625% Senior Notes due April 2019, effective interest rate of 1.77%	$	—	$	250,000
4.000% Senior Notes due November 2020, effective interest rate of 4.43%		500,000		500,000
2.500% Senior Notes due April 2021, effective interest rate of 2.62%		250,000		250,000
3.700% Senior Notes due April 2022, effective interest rate of 3.85%		500,000		500,000
2.875% Senior Notes due January 2023, effective interest rate of 3.21%		300,000		300,000
3.125% Senior Notes due July 2023, effective interest rate of 3.26%		500,000		500,000
3.125% Senior Notes due April 2024, effective interest rate 3.32%		300,000		—
3.250% Senior Notes due April 2025, effective interest rate 3.36%		400,000		400,000
3.125% Senior Notes due April 2026, effective interest rate of 3.28%		400,000		400,000
3.750% Senior Notes due June 2027, effective interest rate of 3.83%		600,000		600,000
3.750% Senior Notes due April 2029, effective interest rate of 3.86%		450,000		—
Commercial paper, weighted average interest rate of 2.28% and 2.29% at August 31, 2019 and August 25, 2018, respectively		1,030,000		1,325,300

Total debt before discounts and debt issuance costs		5,230,000		5,025,300
Less: Discounts and debt issuance costs		23,656		19,370

Long-term debt	$	5,206,344	$	5,005,930

Scheduled Maturities of Debt

Scheduled maturities of debt are as follows:


(in thousands)	Scheduled Maturities
2020	$	1,030,000
2021		750,000
2022		500,000
2023		800,000
2024		300,000
Thereafter		1,850,000

Subtotal		5,230,000
Discount and debt issuance costs		23,656

Total Debt	$	5,206,344

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
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-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
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-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Interest Expense (Tables)

12 Months Ended

Aug. 31, 2019

Banking and Thrift, Interest [Abstract]

Net Interest Expense

Net interest expense consisted of the following:


	Year Ended
(in thousands)	August 31, 2019			August 25, 2018			August 26, 2017
Interest expense	$	193,671		$	181,668		$	159,329
Interest income		(7,396	)		(5,636	)		(3,502	)
Capitalized interest		(1,471	)		(1,505	)		(1,247	)

	$	184,804		$	174,527		$	154,580

Stock Repurchase Program (Tables)

12 Months Ended

Aug. 31, 2019

Equity [Abstract]

Summarize Company's Share Repurchase Activity

The Company’s share repurchase activity consisted of the following:


	Year Ended
(in thousands)	August 31, 2019		August 25, 2018		August 26, 2017
Amount	$	2,004,896	$	1,592,013	$	1,071,649
Shares		2,182		2,398		1,495

Pension and Savings Plans (Tables)

12 Months Ended

Aug. 31, 2019

Retirement Benefits [Abstract]

Plan's Funded Status and Amounts Recognized in Company's Consolidated Balance Sheets

The following table sets forth the plans’ funded status:


(in thousands)	August 25, 2018 (1)
Change in Projected Benefit Obligation:
Projected benefit obligation at beginning of year	$	314,724
Interest cost		10,356
Actuarial (gains) losses		(676	)
Annuities purchased		(157,589	)
Benefits and settlements paid		(166,815	)

Benefit obligations at end of year	$	—

Change in Plan Assets:
Fair value of plan assets at beginning of year	$	316,267
Actual return on plan assets		(3,428	)
Employer contributions		11,596
Annuities purchased		(157,589	)
Benefits and settlements paid		(166,815	)
Asset reversion upon termination		(31	)

Fair value of plan assets at end of year	$	—

(1)	The pension plans were terminated in fiscal 2018.

Net Periodic Benefit Expense

Net periodic benefit expense consisted of the following:


	Year Ended
(in thousands)	August 25, 2018 (1)			August 26, 2017
Interest cost	$	10,356		$	10,335
Expected return on plan assets		(18,997	)		(20,056	)
Recognized net actuarial losses		10,736			13,873
Settlement loss		130,263			—

Net periodic benefit expense	$	132,358		$	4,152

(1)	The pension plans were terminated in fiscal 2018.

Actuarial Assumptions Used in Determining Projected Benefit Obligation

The blended actuarial assumptions used in determining the projected benefit obligation include the following:


	Year Ended
	August 25, 2018 (1)			August 26, 2017
Discount rate to determine benefit obligation		3.86	%		3.86	%
Discount rate to determine net interest cost		3.36	%		3.21	%
Expected long-term rate of return on plan assets		6.00	%		7.00	%

(1)	The pension plans were terminated in fiscal 2018.

Goodwill and Intangibles (Tables)

12 Months Ended

Aug. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in Carrying Amount of Goodwill

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


(in thousands)	Auto Parts Locations			Other			Total
Net balance as of August 26, 2017	$	326,703		$	65,184		$	391,887
Goodwill adjustments		(24,058	)		(65,184	)		(89,242	)

Net balance as of August 25, 2018 (1)		302,645			—			302,645
Goodwill adjustments		—			—			—

Net balance as of August 31, 2019	$	302,645		$	—		$	302,645

(1)	During the second quarter of fiscal 2018, the Company recorded impairment charges related to its IMC and AutoAnything businesses. See “Note M – Sale of Assets” for further discussion.

Schedule of Carrying Amounts of Intangible Assets

The carrying amounts of intangible assets are included in Other long-term assets as follows:


	August 31, 2019
(in thousands)	Estimated Useful Life		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Amortizing intangible assets:
Technology		3-5 years	$	870	$	(870	)	$	—
Customer relationships		3-10 years		29,376		(23,760	)		5,616

			$	30,246	$	(24,630	)		5,616

Total intangible assets other than goodwill								$	5,616


	August 25, 2018 (1)
(in thousands)	Estimated Useful Life		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Amortizing intangible assets:
Technology		3-5 years	$	870	$	(870	)	$	—
Customer relationships		3-10 years		29,376		(19,587	)		9,789

			$	30,246	$	(20,457	)		9,789

Total intangible assets other than goodwill								$	9,789

(1)

Schedule of Future Amortization Expense for Finite Lived Intangible Assets


(in thousands)	Total
2020	$	4,173
2021		1,443
Thereafter		—

	$	5,616

Leases (Tables)

12 Months Ended

Aug. 31, 2019

Leases [Abstract]

Future Minimum Annual Rental Commitments Under Non-Cancelable Operating Leases and Capital Leases

Future minimum annual rental commitments under

non-cancelable

operating leases and capital leases were as follows at the end of fiscal 2019:


(in thousands)	Operating Leases		Capital Leases
2020	$	315,424	$	56,246
2021		302,056		51,679
2022		281,287		39,094
2023		252,868		28,401
2024		221,213		7,300
Thereafter		824,244		—

Total minimum payments required	$	2,197,092		182,720

Less: Interest				(2,815	)

Present value of minimum capital lease payments			$	179,905

Segment Reporting (Tables)

12 Months Ended

Aug. 31, 2019

Segment Reporting [Abstract]

Segment Results


	Year Ended
(in thousands)	August 31, 2019			August 25, 2018			August 26, 2017
Net Sales:
Auto Parts Locations	$	11,645,235		$	10,951,498		$	10,523,272
Other		218,508			269,579			365,404

Total	$	11,863,743		$	11,221,077		$	10,888,676

Segment Profit:
Auto Parts Locations	$	6,209,229		$	5,805,561		$	5,544,494
Other		155,772			168,185			195,126

Gross profit		6,365,001			5,973,746			5,739,620
Operating, selling, general and administrative expenses (1)		(4,148,864	)		(4,162,890	)		(3,659,551	)
Interest expense, net		(184,804	)		(174,527	)		(154,580	)

Income before income taxes	$	2,031,333		$	1,636,329		$	1,925,489

Segment Assets:
Auto Parts Locations	$	9,781,926		$	9,231,021		$	8,964,371
Other		113,987			115,959			295,410

Total	$	9,895,913		$	9,346,980		$	9,259,781

Capital Expenditures:
Auto Parts Locations	$	479,120		$	499,762		$	533,304
Other		16,930			22,026			20,528

Total	$	496,050		$	521,788		$	553,832

Auto Parts Locations Sales by Product Grouping:
Failure	$	5,728,294		$	5,338,890		$	5,100,702
Maintenance items		4,140,987			3,914,546			3,774,386
Discretionary		1,775,954			1,698,062			1,648,184

Auto Parts Locations net sales	$	11,645,235		$	10,951,498		$	10,523,272

(1)	Operating, selling, general and administrative expenses for fiscal 2018 include $130.3 million related to pension termination charges and $193.2 million related to impairment charges.

Quarterly Summary (Tables)

12 Months Ended

Aug. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Quarterly Summary


	Twelve Weeks Ended						Seventeen Weeks Ended
(in thousands, except per share data)	November 17, 2018		February 9, 2019		May 4, 2019		August 31, 2019 (2)
Net sales	$	2,641,733	$	2,450,568	$	2,783,006	$	3,988,435
Gross profit		1,417,474		1,325,107		1,492,020		2,130,400
Operating profit		487,818		400,020		547,523		780,775
Income before income taxes		448,812		358,658		504,284		719,578
Net income (5)		351,406		294 , 638		405,949		565,228
Basic earnings per share		13.71		11.71		16.35		23.15
Diluted earnings per share		13.47		11.49		15.99		22.59

	Twelve Weeks Ended						Sixteen Weeks Ended
(in thousands, except per share data)	November 18, 2017		February 10, 2018 (3)(5)		May 5, 2018 (5)		August 25, 2018 (2)(4)(5)
Net sales	$	2,589,131	$	2,413,026	$	2,660,152	$	3,558,769
Gross profit		1,365,848		1,277,046		1,422,974		1,907,879
Operating profit		468,754		205,098		545,765		591,239
Income before income taxes		429,865		165,758		503,807		536,899
Net income		281,003		289,530		366,721		400,282
Basic earnings per share		10.17		10.58		13.62		15.27
Diluted earnings per share		10.00		10.38		13.42		15.02

(1)	The sum of quarterly amounts may not equal the annual amounts reported due to rounding. In addition, the earnings per share amounts are computed independently for each quarter while the full year is based on the annual weighted average shares outstanding.

(2)	The fourth quarter for fiscal 2019 is based on a 17-week period while fiscal 2018 is based on a 16-week period. All other quarters presented are based on a 12-week period.

(3)	The second quarter of fiscal 2018 includes impairment charges of $193.2 million. See “Note M – Sale of Assets.”

(4)	The fourth quarter of fiscal 2018 includes pension termination charges of $130.3 million. See “Note L - Pension and Savings Plans.”

(5)	Net income of the second, third and fourth quarter of fiscal 2018 and all of fiscal 2019 benefitted from changes due to Tax Reform. See “Note D – Income Taxes.”

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Stock Repurchase Program - Additional Information (Detail) - USD ($) shares in Thousands		2 Months Ended	12 Months Ended			260 Months Ended
	Oct. 07, 2019	Oct. 22, 2019	Aug. 31, 2019	Aug. 25, 2018	Aug. 26, 2017	Aug. 31, 2019	Sep. 26, 2018
Equity, Class of Treasury Stock [Line Items]
Stock repurchased cumulative, shares			2,182	2,398	1,495	146,900
Purchase of treasury stock			$ 2,004,896,000	$ 1,592,013,000	$ 1,071,649,000	$ 21,423,000,000
Stock repurchase authorized			21,900,000,000	19,650,000,000		21,900,000,000	$ 20,900,000,000
Stock Repurchase Program 1998 [Member]
Equity, Class of Treasury Stock [Line Items]
Stock repurchase authorized			23,200,000,000			$ 23,200,000,000
Retained Deficit [Member]
Equity, Class of Treasury Stock [Line Items]
Retirement of treasury shares			1,706,971,000	918,462,000	1,321,070,000
Additional Paid-In Capital [Member]
Equity, Class of Treasury Stock [Line Items]
Retirement of treasury shares			$ 125,442,000	$ 60,500,000	$ 64,943,000
Common Stock [Member]
Equity, Class of Treasury Stock [Line Items]
Share of treasury stock retired			2,563	1,512	1,804
Retirement of treasury shares			$ 26,000	$ 15,000	$ 18,000
Subsequent Events [Member]
Equity, Class of Treasury Stock [Line Items]
Stock repurchased cumulative, shares		259,384
Purchase of treasury stock		$ 284,600,000
Increase in authorization of stock repurchase, value	$ 1,250,000,000
Remaining value authorized for share repurchases		$ 1,440,000,000

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

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

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

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

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

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

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

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

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

Goodwill and Intangibles - Schedule of Carrying Amounts of Intangible Assets (Parenthetical) (Detail) - Trade Names [Member] - AutoAnything's and Interamerican Motor Corporation [Member] - USD ($) $ in Millions	3 Months Ended
	Feb. 10, 2018	Aug. 25, 2018
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Impairment charge	$ 26.9
Accumulated impairment		$ 31.0

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

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

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

Commitments and Contingencies - Additional Information (Detail) $ in Millions	12 Months Ended
	Aug. 31, 2019 USD ($)
Loss Contingencies [Line Items]
Commitment for construction	$ 38.0
Surety bonds	$ 36.7
The period of time before expiration of standby letters of credit and surety bonds	less than one year
Standby Letters of Credit [Member]
Loss Contingencies [Line Items]
Borrowings, outstanding	$ 101.2

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

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

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

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

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

Quarterly Summary - Quarterly Summary (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						4 Months Ended		12 Months Ended
	May 04, 2019	Feb. 09, 2019	Nov. 17, 2018	May 05, 2018	Feb. 10, 2018	Nov. 18, 2017	Aug. 31, 2019	Aug. 25, 2018	Aug. 31, 2019	Aug. 25, 2018	Aug. 26, 2017
Quarterly Financial Information Disclosure [Abstract]
Net sales	$ 2,783,006	$ 2,450,568	$ 2,641,733	$ 2,660,152	$ 2,413,026	$ 2,589,131	$ 3,988,435	$ 3,558,769	$ 11,863,743	$ 11,221,077	$ 10,888,676
Gross profit	1,492,020	1,325,107	1,417,474	1,422,974	1,277,046	1,365,848	2,130,400	1,907,879	6,365,001	5,973,746	5,739,620
Operating profit	547,523	400,020	487,818	545,765	205,098	468,754	780,775	591,239	2,216,137	1,810,856	2,080,069
Income before income taxes	504,284	358,658	448,812	503,807	165,758	429,865	719,578	536,899	2,031,333	1,636,329	1,925,489
Net income	$ 405,949	$ 294,638	$ 351,406	$ 366,721	$ 289,530	$ 281,003	$ 565,228	$ 400,282	$ 1,617,221	$ 1,337,536	$ 1,280,869
Basic earnings per share	$ 16.35	$ 11.71	$ 13.71	$ 13.62	$ 10.58	$ 10.17	$ 23.15	$ 15.27	$ 64.78	$ 49.59	$ 45.05
Diluted earnings per share	$ 15.99	$ 11.49	$ 13.47	$ 13.42	$ 10.38	$ 10.00	$ 22.59	$ 15.02	$ 63.43	$ 48.77	$ 44.07

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

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+ Details

- Definition

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

+ References + Details

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