0001558370-24-016435 | 10-Q | XBRL Viewer

Share-Based Payments (Tables)

3 Months Ended

Nov. 23, 2024

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


	Twelve Weeks Ended
	November 23,		November 18,
	2024		2023

Expected price volatility	26	%	29	%
Risk-free interest rate	3.9	%	4.8	%
Weighted average expected lives (in years)	5.5		5.4
Forfeiture rate	7	%	7	%
Dividend yield	0	%	0	%

Segment Reporting (Tables)

3 Months Ended

Nov. 23, 2024

Segment Reporting

Segment Results


	Twelve Weeks Ended
	November 23,		November 18,
(in thousands)	2024		2023

Net Sales
Auto Parts Stores	$	4,199,732	$	4,115,694
Other		79,909		74,583
Total	$	4,279,641	$	4,190,277

Segment Profit
Auto Parts Stores	$	2,220,608	$	2,170,025
Other		47,449		43,991
Gross profit		2,268,057		2,214,016
Operating, selling, general and administrative expenses		(1,426,908)		(1,365,412)
Interest expense, net		(107,629)		(91,384)
Income before income taxes	$	733,520	$	757,220

Fair Value Measurements - Additional Information (Detail) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Nov. 23, 2024	Aug. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term marketable debt securities	$ 34,335	$ 38,431
Long-term marketable debt securities	$ 86,308	$ 83,727

Segment Reporting

3 Months Ended

Nov. 23, 2024

Segment Reporting

Segment Reporting

Note L – Segment Reporting

The Company’s primary operating segments (Domestic Auto Parts, Mexico and Brazil) are aggregated as one reportable segment: Auto Parts Stores. 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” in its Annual Report on Form 10-K for the year ended August 31, 2024.

The Auto Parts Stores segment is a retailer and distributor of automotive parts and accessories through the Company’s 7,387 stores in the U.S., Mexico and 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.

The Other category reflects business activities of two 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 automotive diagnostic, repair and shop management software used in the automotive repair industry and E-commerce, which includes direct sales to customers through www.autozone.com for sales that are not fulfilled by local stores.

The Company evaluates its reportable segment primarily on the basis of net sales and segment profit, which is defined as gross profit. Segment results for the periods presented were as follows:


	Twelve Weeks Ended
	November 23,		November 18,
(in thousands)	2024		2023

Net Sales
Auto Parts Stores	$	4,199,732	$	4,115,694
Other		79,909		74,583
Total	$	4,279,641	$	4,190,277

Segment Profit
Auto Parts Stores	$	2,220,608	$	2,170,025
Other		47,449		43,991
Gross profit		2,268,057		2,214,016
Operating, selling, general and administrative expenses		(1,426,908)		(1,365,412)
Interest expense, net		(107,629)		(91,384)
Income before income taxes	$	733,520	$	757,220

- Definition

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

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+ Details

Share-Based Payments - Weighted Average for Key Assumptions Used in Determining Fair Value of Options Granted and Related Share-Based Compensation Expense (Detail)	3 Months Ended
	Nov. 23, 2024	Nov. 18, 2023
Share-Based Payments
Expected price volatility	26.00%	29.00%
Risk-free interest rate	3.90%	4.80%
Weighted average expected lives (in years)	5 years 6 months	5 years 4 months 24 days
Forfeiture rate	7.00%	7.00%
Dividend yield	0.00%	0.00%

Financing - Schedule of Debt - Interest Rates And Maturity (Detail)	3 Months Ended	12 Months Ended
	Nov. 23, 2024	Aug. 31, 2024
3.250% Senior Notes due April 2025, effective interest rate 3.36%
Debt Instrument [Line Items]
Stated interest rate percentage	3.25%	3.25%
Debt instrument maturity, month and year	2025-04	2025-04
Effective interest rate	3.36%	3.36%
3.625% Senior Notes due April 2025, effective interest rate 3.78%
Debt Instrument [Line Items]
Stated interest rate percentage	3.625%	3.625%
Debt instrument maturity, month and year	2025-04	2025-04
Effective interest rate	3.78%	3.78%
3.125% Senior Notes due April 2026, effective interest rate of 3.28%
Debt Instrument [Line Items]
Stated interest rate percentage	3.125%	3.125%
Debt instrument maturity, month and year	2026-04	2026-04
Effective interest rate	3.28%	3.28%
5.050% Senior Notes due July 2026, effective interest rate 5.09%
Debt Instrument [Line Items]
Stated interest rate percentage	5.05%	5.05%
Debt instrument maturity, month and year	2026-07	2026-07
Effective interest rate	5.09%	5.09%
3.750% Senior Notes due June 2027, effective interest rate of 3.83%
Debt Instrument [Line Items]
Stated interest rate percentage	3.75%	3.75%
Debt instrument maturity, month and year	2027-06	2027-06
Effective interest rate	3.83%	3.83%
4.500% Senior Notes due February 2028, effective interest rate 4.43%
Debt Instrument [Line Items]
Stated interest rate percentage	4.50%	4.50%
Debt instrument maturity, month and year	2028-02	2028-02
Effective interest rate	4.43%	4.43%
6.250% Senior Notes due November 2028, effective interest rate 6.46%
Debt Instrument [Line Items]
Stated interest rate percentage	6.25%	6.25%
Debt instrument maturity, month and year	2028-11	2028-11
Effective interest rate	6.46%	6.46%
3.750% Senior Notes due April 2029, effective interest rate 3.86%
Debt Instrument [Line Items]
Stated interest rate percentage	3.75%	3.75%
Debt instrument maturity, month and year	2029-04	2029-04
Effective interest rate	3.86%	3.86%
5.100% Senior Notes due July 2029, effective interest rate 5.30%
Debt Instrument [Line Items]
Stated interest rate percentage	5.10%	5.10%
Debt instrument maturity, month and year	2029-07	2029-07
Effective interest rate	5.30%	5.30%
4.000% Senior Notes due April 2030, effective interest rate 4.09%
Debt Instrument [Line Items]
Stated interest rate percentage	4.00%	4.00%
Debt instrument maturity, month and year	2030-04	2030-04
Effective interest rate	4.09%	4.09%
1.650% Senior Notes due January 2031, effective interest rate 2.19%
Debt Instrument [Line Items]
Stated interest rate percentage	1.65%	1.65%
Debt instrument maturity, month and year	2031-01	2031-01
Effective interest rate	2.19%	2.19%
4.750% Senior Notes due August 2032, effective interest rate 4.76%
Debt Instrument [Line Items]
Stated interest rate percentage	4.75%	4.75%
Debt instrument maturity, month and year	2032-08	2032-08
Effective interest rate	4.76%	4.76%
4.750% Senior Notes due February 2033, effective interest rate 4.70%
Debt Instrument [Line Items]
Stated interest rate percentage	4.75%	4.75%
Debt instrument maturity, month and year	2033-02	2033-02
Effective interest rate	4.70%	4.70%
5.200% Senior Notes due August 2033, effective interest rate 5.22%
Debt Instrument [Line Items]
Stated interest rate percentage	5.20%	5.20%
Debt instrument maturity, month and year	2033-08	2033-08
Effective interest rate	5.22%	5.22%
6.550% Senior Notes due November 2033, effective interest rate 6.71%
Debt Instrument [Line Items]
Stated interest rate percentage	6.55%	6.55%
Debt instrument maturity, month and year	2033-11	2033-11
Effective interest rate	6.71%	6.71%
5.400% Senior Notes due July 2034, effective interest rate 5.54%
Debt Instrument [Line Items]
Stated interest rate percentage	5.40%	5.40%
Debt instrument maturity, month and year	2034-07	2034-07
Effective interest rate	5.54%	5.54%
Commercial paper
Debt Instrument [Line Items]
Weighted average interest rate of commercial paper	4.65%	5.40%

Merchandise Inventories

3 Months Ended

Nov. 23, 2024

Merchandise Inventories

Merchandise Inventories

Note B – Merchandise Inventories

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 stated at the lower of cost or net realizable value for Mexico and Brazil inventories. The Company’s policy is not to write up inventory in excess of replacement cost. Due to price changes on the Company’s merchandise purchases, primarily driven by fluctuating freight costs, the Company’s LIFO credit reserve balance was $19.0 million at November 23, 2024, and August 31, 2024. Increases to the Company’s LIFO credit reserve balance are recorded as a non-cash charge to cost of sales and decreases are recorded as a non-cash benefit to cost of sales.

Marketable Debt Securities - Contractual Maturities of Available-for-Sale Marketable Debt Securities (Detail) - USD ($) $ in Thousands	Nov. 23, 2024	Aug. 31, 2024
Amortized Cost Basis
Due within one year	$ 35,904
Due after one year through five years	50,134
Due after five years through ten years	18,540
Due after ten years	16,911
Total	121,489	$ 121,792
Fair Value
Due within one year	34,335
Due after one year through five years	51,471
Due after five years through ten years	18,085
Due after ten years	16,752
Total	$ 120,643	$ 122,158

Fair Value Measurements

3 Months Ended

Nov. 23, 2024

Fair Value Measurements

Fair Value Measurements

Note D – 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:


	November 23, 2024
(in thousands)	Level 1		Level 2		Level 3		Fair Value

Other current assets	$	21,486	$	12,849	$	—	$	34,335
Other long-term assets		31,153		55,155		—		86,308
	$	52,639	$	68,004	$	—	$	120,643


	August 31, 2024
(in thousands)	Level 1		Level 2		Level 3		Fair Value

Other current assets	$	26,697	$	11,734	$	—	$	38,431
Other long-term assets		27,031		56,696		—		83,727
	$	53,728	$	68,430	$	—	$	122,158

At November 23, 2024, the fair value measurement amounts for assets and liabilities recorded in the accompanying Condensed Consolidated Balance Sheets consisted of short-term marketable debt securities of $34.3 million, which are included within Other current assets, and long-term marketable debt securities of $86.3 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 securities, including benchmark yields and reported trades. The fair values of the marketable debt securities, by asset class, are described in “Note E – Marketable Debt Securities.”

Financial Instruments not Recognized at Fair Value

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

- 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.

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+ Details

Marketable Debt Securities - Additional Information (Detail) $ in Thousands	Nov. 23, 2024 USD ($) security	Aug. 31, 2024 USD ($)
Marketable Debt Securities
Marketable securities held in trust	$ 111,500	$ 111,500
Number of securities available for sale loss position \| security	92
Available-For-Sale Marketable Securities, Gross Unrealized Losses	$ 1,270	$ 692

Financing - Schedule of Debt (Detail) - USD ($) $ in Thousands	Nov. 23, 2024	Aug. 31, 2024
Debt Instrument [Line Items]
Total debt before discounts and debt issuance costs	$ 9,065,000	$ 9,080,000
Less: Discounts and debt issuance costs	52,461	55,619
Long-term debt	9,012,539	9,024,381
3.250% Senior Notes due April 2025, effective interest rate 3.36%
Debt Instrument [Line Items]
Senior notes	400,000	400,000
3.625% Senior Notes due April 2025, effective interest rate 3.78%
Debt Instrument [Line Items]
Senior notes	500,000	500,000
3.125% Senior Notes due April 2026, effective interest rate of 3.28%
Debt Instrument [Line Items]
Senior notes	400,000	400,000
5.050% Senior Notes due July 2026, effective interest rate 5.09%
Debt Instrument [Line Items]
Senior notes	450,000	450,000
3.750% Senior Notes due June 2027, effective interest rate of 3.83%
Debt Instrument [Line Items]
Senior notes	600,000	600,000
4.500% Senior Notes due February 2028, effective interest rate 4.43%
Debt Instrument [Line Items]
Senior notes	450,000	450,000
6.250% Senior Notes due November 2028, effective interest rate 6.46%
Debt Instrument [Line Items]
Senior notes	500,000	500,000
3.750% Senior Notes due April 2029, effective interest rate 3.86%
Debt Instrument [Line Items]
Senior notes	450,000	450,000
5.100% Senior Notes due July 2029, effective interest rate 5.30%
Debt Instrument [Line Items]
Senior notes	600,000	600,000
4.000% Senior Notes due April 2030, effective interest rate 4.09%
Debt Instrument [Line Items]
Senior notes	750,000	750,000
1.650% Senior Notes due January 2031, effective interest rate 2.19%
Debt Instrument [Line Items]
Senior notes	600,000	600,000
4.750% Senior Notes due August 2032, effective interest rate 4.76%
Debt Instrument [Line Items]
Senior notes	750,000	750,000
4.750% Senior Notes due February 2033, effective interest rate 4.70%
Debt Instrument [Line Items]
Senior notes	550,000	550,000
5.200% Senior Notes due August 2033, effective interest rate 5.22%
Debt Instrument [Line Items]
Senior notes	300,000	300,000
6.550% Senior Notes due November 2033, effective interest rate 6.71%
Debt Instrument [Line Items]
Senior notes	500,000	500,000
5.400% Senior Notes due July 2034, effective interest rate 5.54%
Debt Instrument [Line Items]
Senior notes	700,000	700,000
Commercial paper
Debt Instrument [Line Items]
Commercial paper	$ 565,000	$ 580,000

Variable Interest Entities

3 Months Ended

Nov. 23, 2024

Variable Interest Entities

Variable Interest Entities

Note C – Variable Interest Entities

The Company invests in certain tax credit funds that promote renewable energy and generate a return primarily through the realization of federal tax credits. The Company considers its investment in these tax credit funds as investments in variable interest entities (“VIEs”). The Company evaluates the investment in any VIE to determine whether it is the primary beneficiary. The Company considers a variety of factors in identifying the entity that holds the power to direct matters that most significantly impact the VIE’s economic performance including, but not limited to, the ability to direct financing, leasing, construction and other operating decisions and activities. As of November 23, 2024, the Company held tax credit equity investments that were deemed to be VIEs and determined that it was not the primary beneficiary of the entities, as it did not have the power to direct the activities that most significantly impacted the entities and accounted for these investments using the equity method. The Company’s maximum exposure to losses is generally limited to its net investment, which was $84.9 million and $53.9 million as of November 23, 2024, and August 31, 2024, respectively, and was included within the Other long-term assets caption in the Condensed Consolidated Balance Sheets.

General (Policies)	3 Months Ended
General (Policies)	Nov. 23, 2024
General
Basis of Accounting	The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“U.S. GAAP”) for interim financial information and are presented in accordance with the requirements of Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission’s (the “SEC”) rules and regulations. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments, including normal recurring accruals, considered necessary for a fair presentation have been included. For further information, refer to the consolidated financial statements and related notes included in the AutoZone, Inc. (“AutoZone” or the “Company”) Annual Report on Form 10-K for the year ended August 31, 2024.
Fiscal Period	Operating results for the twelve weeks ended November 23, 2024, are not necessarily indicative of the results that may be expected for the full fiscal year ending August 30, 2025. Each of the first three quarters of AutoZone’s fiscal year consists of 12 weeks, and the fourth quarter consists of 16 or 17 weeks. The fourth quarter of fiscal 2025 has 16 weeks, and the fourth quarter of fiscal 2024 had 17 weeks.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280). The amendments in this ASU require disclosures, on an annual and interim basis, of significant segment expenses that are regularly provided to the chief operating decision maker (CODM), as well as the aggregate amount of other segment items included in the reported measure of segment profit or loss. This ASU requires that a public entity disclose the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss. Public entities will be required to provide all annual disclosures currently required by Topic 280 in interim periods, and entities with a single reportable segment are required to provide all the disclosures required by the amendments in the update and existing segment disclosures in Topic 280. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and requires retrospective adoption. Early adoption is permitted. The Company will adopt this standard beginning with our fiscal 2025 annual filing. The Company is currently evaluating these new disclosure requirements and the impact of adoption. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740). The amendments in this ASU are intended to enhance the transparency of income tax information by updating income tax disclosure requirements. The guidance is effective for public entities for annual periods beginning after December 15, 2024, and early adoption is permitted. The amendments in this ASU should be applied on a prospective basis; however, retrospective application is permitted. The Company will adopt this standard with our fiscal 2026 annual filing. The Company is currently evaluating these new disclosure requirements and does not expect the adoption to have a material impact. In November 2024, the FASB issued ASU 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40). This ASU requires disclosure in the notes to financial statements, at each interim and annual reporting period, of specified information about certain costs and expenses including purchases of inventory, employee compensation, depreciation and intangible asset amortization included in each relevant expense caption. Also required is a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated. This ASU is effective for all public entities for fiscal years beginning after December 15, 2026, and interim periods beginning after December 15, 2027, and early adoption is permitted. This ASU should be applied either prospectively to financial statements issued after the effective date of this update or retrospectively to all prior periods presented in the financial statements. The Company will adopt this standard with our fiscal 2028 annual filing. The Company is currently evaluating these new disclosure requirements and the impact of adoption.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Nov. 23, 2024	Nov. 18, 2023
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
Net sales	$ 4,279,641	$ 4,190,277
Cost of sales, including warehouse and delivery expenses	2,011,584	1,976,261
Gross profit	2,268,057	2,214,016
Operating, selling, general and administrative expenses	1,426,908	1,365,412
Operating profit	841,149	848,604
Interest expense, net	107,629	91,384
Income before income taxes	733,520	757,220
Income tax expense	168,587	163,757
Net income	$ 564,933	$ 593,463
Weighted average shares for basic earnings per share	16,913	17,709
Effect of dilutive stock equivalents	457	525
Weighted average shares for diluted earnings per share	17,370	18,234
Basic earnings per share	$ 33.4	$ 33.51
Diluted earnings per share	$ 32.52	$ 32.55

General

3 Months Ended

Nov. 23, 2024

General

General

Note A – General

The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“U.S. GAAP”) for interim financial information and are presented in accordance with the requirements of Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission’s (the “SEC”) rules and regulations. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments, including normal recurring accruals, considered necessary for a fair presentation have been included. For further information, refer to the consolidated financial statements and related notes included in the AutoZone, Inc. (“AutoZone” or the “Company”) Annual Report on Form 10-K for the year ended August 31, 2024.

Operating results for the twelve weeks ended November 23, 2024, are not necessarily indicative of the results that may be expected for the full fiscal year ending August 30, 2025. Each of the first three quarters of AutoZone’s fiscal year consists of 12 weeks, and the fourth quarter consists of 16 or 17 weeks. The fourth quarter of fiscal 2025 has 16 weeks, and the fourth quarter of fiscal 2024 had 17 weeks.

Recently Issued Accounting Pronouncements

In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280). The amendments in this ASU require disclosures, on an annual and interim basis, of significant segment expenses that are regularly provided to the chief operating decision maker (CODM), as well as the aggregate amount of other segment items included in the reported measure of segment profit or loss. This ASU requires that a public entity disclose the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss. Public entities will be required to provide all annual disclosures currently required by Topic 280 in interim periods, and entities with a single reportable segment are required to provide all the disclosures required by the amendments in the update and existing segment disclosures in Topic 280. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and requires retrospective adoption. Early adoption is permitted. The Company will adopt this standard beginning with our fiscal 2025 annual filing. The Company is currently evaluating these new disclosure requirements and the impact of adoption.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740). The amendments in this ASU are intended to enhance the transparency of income tax information by updating income tax disclosure requirements. The guidance is effective for public entities for annual periods beginning after December 15, 2024, and early adoption is permitted. The amendments in this ASU should be applied on a prospective basis; however, retrospective application is permitted. The Company will adopt this standard with our fiscal 2026 annual filing. The Company is currently evaluating these new disclosure requirements and does not expect the adoption to have a material impact.

In November 2024, the FASB issued ASU 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40). This ASU requires disclosure in the notes to financial statements, at each interim and annual reporting period, of specified information about certain costs and expenses including purchases of inventory, employee compensation, depreciation and intangible asset amortization included in each relevant expense caption. Also required is a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated. This ASU is effective for all public entities for fiscal years beginning after December 15, 2026, and interim periods beginning after December 15, 2027, and early adoption is permitted. This ASU should be applied either prospectively to financial statements issued after the effective date of this update or retrospectively to all prior periods presented in the financial statements. The Company will adopt this standard with our fiscal 2028 annual filing. The Company is currently evaluating these new disclosure requirements and the impact of adoption.

Cover Page - shares	3 Months Ended
Cover Page - shares	Nov. 23, 2024	Dec. 13, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Nov. 23, 2024
Securities Act File Number	1-10714
Entity Registrant Name	AUTOZONE INC
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	62-1482048
Entity Address, Address Line One	123 South Front Street
Entity Address, City or Town	Memphis
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	38103
City Area Code	901
Local Phone Number	495-6500
Title of 12(b) Security	Common Stock
Trading Symbol	AZO
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		16,782,160
Current Fiscal Year End Date	--08-30
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q1
Entity Central Index Key	0000866787
Amendment Flag	false

Stock Repurchase Program

3 Months Ended

Nov. 23, 2024

Stock Repurchase Program

Stock Repurchase Program

Note I – Stock Repurchase Program

From January 1, 1998, to November 23, 2024, the Company has repurchased a total of 155.3 million shares of its common stock at an aggregate cost of $37.5 billion, including 160.1 thousand shares of its common stock at an aggregate cost of $505.2 million during the twelve week period ended November 23, 2024.

On June 19, 2024, the Board voted to authorize the repurchase of an additional $1.5 billion of the Company’s common stock in connection with its ongoing share repurchase program, which raised the total value of shares authorized to be repurchased to $39.2 billion. Considering the cumulative repurchases as of November 23, 2024, the Company had $1.7 billion remaining under the Board’s authorization to repurchase its common stock.

Subsequent to November 23, 2024, and through December 13, 2024, the Company has repurchased 38.2 thousand shares of its common stock at an aggregate cost of $123.2 million.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Nov. 23, 2024	Nov. 18, 2023
Cash flows from operating activities:
Net income	$ 564,933	$ 593,463
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property and equipment	133,173	120,224
Other non-cash income		(2,000)
Amortization of debt origination fees	3,018	2,810
Deferred income taxes	(4,831)	882
Share-based compensation expense	26,117	22,913
Changes in operating assets and liabilities:
Accounts receivable	9,873	6,856
Merchandise inventories	(136,181)	(21,899)
Accounts payable and accrued expenses	170,032	33,762
Income taxes	103,019	96,793
Other, net	(57,350)	(23,545)
Net cash provided by operating activities	811,803	830,259
Cash flows from investing activities:
Capital expenditures	(247,035)	(235,428)
Purchase of marketable debt securities	(12,311)	(4,115)
Proceeds from sale of marketable debt securities	12,614	1,944
Investment in tax credit equity investments	(31,018)	(41,150)
Proceeds from disposal of capital assets and other, net	12,001	8,235
Net cash used in investing activities	(265,749)	(270,514)
Cash flows from financing activities:
Net payments of commercial paper	(15,000)	(76,900)
Proceeds from issuance of debt		1,000,000
Net proceeds from sale of common stock	36,002	41,448
Purchase of treasury stock	(540,086)	(1,486,876)
Repayment of principal portion of finance lease liabilities	(23,106)	(20,202)
Other, net	4,094	(9,696)
Net cash used in financing activities	(538,096)	(552,226)
Effect of exchange rate changes on cash	(2,112)	(1,592)
Net increase in cash and cash equivalents	5,846	5,927
Cash and cash equivalents at beginning of period	298,172	277,054
Cash and cash equivalents at end of period	$ 304,018	$ 282,981

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Nov. 23, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Merchandise Inventories (Detail) - USD ($) $ in Millions	Nov. 23, 2024	Aug. 31, 2024
Merchandise Inventories
LIFO credit reserve balance	$ 19.0	$ 19.0

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT - USD ($) shares in Thousands, $ in Thousands	Common Stock	Additional Paid-In Capital	Retained Deficit	Accumulated Other Comprehensive Loss	Treasury Stock	Total
Balance at Aug. 26, 2023	$ 189	$ 1,484,992	$ (2,959,278)	$ (190,836)	$ (2,684,961)	$ (4,349,894)
Balance, shares at Aug. 26, 2023	18,936
Net income			593,463			593,463
Total other comprehensive loss				(19,523)		(19,523)
Purchase of treasury stock					(1,501,236)	(1,501,236)
Issuance of common stock under stock options and stock purchase plans	$ 1	41,447				41,448
Issuance of common stock under stock options and stock purchase plans, shares	48
Share-based compensation expense		22,071				22,071
Balance at Nov. 18, 2023	$ 190	1,548,510	(2,365,815)	(210,359)	(4,186,197)	(5,213,671)
Balance, shares at Nov. 18, 2023	18,984
Balance at Aug. 31, 2024	$ 175	1,621,553	(4,424,982)	(361,618)	(1,584,742)	(4,749,614)
Balance, shares at Aug. 31, 2024	17,451
Net income			564,933			564,933
Total other comprehensive loss				(45,537)		(45,537)
Purchase of treasury stock					(505,214)	(505,214)
Issuance of common stock under stock options and stock purchase plans		36,002				36,002
Issuance of common stock under stock options and stock purchase plans, shares	44
Share-based compensation expense		26,509				26,509
Balance at Nov. 23, 2024	$ 175	$ 1,684,064	$ (3,860,049)	$ (407,155)	$ (2,089,956)	$ (4,672,921)
Balance, shares at Nov. 23, 2024	17,495

- Definition

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

+ References

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Amount after tax and reclassification adjustments of other comprehensive income (loss).

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- Definition

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

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+ Details

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Nov. 23, 2024	Nov. 18, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 564,933	$ 593,463

- Definition

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

+ References

+ Details

Litigation

3 Months Ended

Nov. 23, 2024

Litigation

Litigation

Note G – Litigation

The Company is involved in various legal proceedings incidental to the conduct of its business, including, but not limited to, claims and allegations related to wage and hour violations, unlawful termination, employment practices, product liability, privacy and cybersecurity, environmental matters, intellectual property rights or regulatory compliance. 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.

Variable Interest Entities (Detail) - USD ($) $ in Millions	Nov. 23, 2024	Aug. 31, 2024
Variable Interest Entity Not Primary Beneficiary
Variable Interest Entities
Maximum exposure to losses amount	$ 84.9	$ 53.9

- Definition

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

+ References + Details

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Thousands	Nov. 23, 2024	Aug. 31, 2024
Preferred Stock
Preferred stock, shares authorized	1,000	1,000
Preferred stock, shares issued	0	0
Common Stock
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	200,000	200,000
Common stock, shares issued	17,495	17,451
Common stock, shares outstanding	16,810	16,926

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Nov. 23, 2024	Aug. 31, 2024
Current assets:
Cash and cash equivalents	$ 304,018	$ 298,172
Accounts receivable	533,485	545,575
Merchandise inventories	6,274,070	6,155,218
Other current assets	308,977	307,794
Total current assets	7,420,550	7,306,759
Property and equipment:
Property and equipment	11,489,436	11,305,125
Less: Accumulated depreciation and amortization	(5,208,333)	(5,121,586)
Property and equipment, net	6,281,103	6,183,539
Operating lease right-of-use assets	3,086,857	3,057,780
Goodwill	302,645	302,645
Deferred income taxes	79,400	83,689
Other long-term assets	295,207	242,126
Total long-term assets	3,764,109	3,686,240
Total assets	17,465,762	17,176,538
Current liabilities:
Accounts payable	7,498,696	7,355,701
Current portion of operating lease liabilities	270,077	266,855
Accrued expenses and other	1,034,313	1,060,746
Income taxes payable	85,484	30,941
Total current liabilities	8,888,570	8,714,243
Long-term debt	9,012,539	9,024,381
Operating lease liabilities, less current portion	2,982,977	2,960,174
Deferred income taxes	496,003	447,067
Other long-term liabilities	758,594	780,287
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; 17,495 shares issued and 16,810 shares outstanding as of November 23, 2024; 17,451 shares issued and 16,926 shares outstanding as of August 31, 2024	175	175
Additional paid-in capital	1,684,064	1,621,553
Retained deficit	(3,860,049)	(4,424,982)
Accumulated other comprehensive loss	(407,155)	(361,618)
Treasury stock, at cost	(2,089,956)	(1,584,742)
Total stockholders' deficit	(4,672,921)	(4,749,614)
Total liabilities and stockholders' deficit	$ 17,465,762	$ 17,176,538

Accumulated Other Comprehensive Loss

3 Months Ended

Nov. 23, 2024

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

Note J – Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss includes foreign currency translation adjustments, unrealized (losses) gains on marketable debt securities, and net derivative activities.

Changes in Accumulated other comprehensive loss for the twelve week periods ended November 23, 2024, and November 18, 2023, consisted of the following:


			Net
	Foreign		Unrealized
	Currency		Gain (Loss)
(in thousands)	and Other⁽¹⁾		on Securities		Derivatives		Total

Balance at August 31, 2024	$	(351,272)	$	300	$	(10,646)	$	(361,618)
Other comprehensive loss before reclassifications⁽²⁾		(44,989)		(952)		—		(45,941)
Amounts reclassified from Accumulated other comprehensive loss⁽²⁾		—		—		404		404
Balance at November 23, 2024	$	(396,261)	$	(652)	$	(10,242)	$	(407,155)


			Net
	Foreign		Unrealized
	Currency		Gain (Loss)
(in thousands)	and Other⁽¹⁾		on Securities		Derivatives		Total

Balance at August 26, 2023	$	(176,557)	$	(1,851)	$	(12,428)	$	(190,836)
Other comprehensive (loss) income before reclassifications⁽²⁾		(20,221)		295		—		(19,926)
Amounts reclassified from Accumulated other comprehensive loss⁽²⁾		—		—		403		403
Balance at November 18, 2023	$	(196,778)	$	(1,556)	$	(12,025)	$	(210,359)

(1)	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.

(2)	Amounts shown are net of taxes/tax benefits.

Accumulated Other Comprehensive Loss (Tables)

3 Months Ended

Nov. 23, 2024

Accumulated Other Comprehensive Loss

Changes in Accumulated Other Comprehensive Loss


			Net
	Foreign		Unrealized
	Currency		Gain (Loss)
(in thousands)	and Other⁽¹⁾		on Securities		Derivatives		Total

Balance at August 31, 2024	$	(351,272)	$	300	$	(10,646)	$	(361,618)
Other comprehensive loss before reclassifications⁽²⁾		(44,989)		(952)		—		(45,941)
Amounts reclassified from Accumulated other comprehensive loss⁽²⁾		—		—		404		404
Balance at November 23, 2024	$	(396,261)	$	(652)	$	(10,242)	$	(407,155)


			Net
	Foreign		Unrealized
	Currency		Gain (Loss)
(in thousands)	and Other⁽¹⁾		on Securities		Derivatives		Total

Balance at August 26, 2023	$	(176,557)	$	(1,851)	$	(12,428)	$	(190,836)
Other comprehensive (loss) income before reclassifications⁽²⁾		(20,221)		295		—		(19,926)
Amounts reclassified from Accumulated other comprehensive loss⁽²⁾		—		—		403		403
Balance at November 18, 2023	$	(196,778)	$	(1,556)	$	(12,025)	$	(210,359)

(1)	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.

(2)	Amounts shown are net of taxes/tax benefits.

Stock Repurchase Program - Additional Information (Detail) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended		323 Months Ended
	Jun. 19, 2024	Dec. 13, 2024	Nov. 23, 2024	Nov. 18, 2023	Nov. 23, 2024
Stock Repurchase Program
Increase in authorization of stock repurchase, value	$ 1,500,000
Purchase of treasury stock, shares			160,100	580,000	155,300,000
Purchase of treasury stock			$ 505,214	$ 1,501,236	$ 37,500,000
Stock repurchase authorized	$ 39,200,000
Remaining value authorized for share repurchases			$ 1,700,000		$ 1,700,000
Subsequent Events
Stock Repurchase Program
Purchase of treasury stock, shares		38,200
Purchase of treasury stock		$ 123,200

Marketable Debt Securities (Tables)

3 Months Ended

Nov. 23, 2024

Marketable Debt Securities

Available-for-Sale Marketable Securities

The Company’s available-for-sale marketable debt securities consisted of the following:


	November 23, 2024
	Amortized		Gross		Gross
	Cost		Unrealized		Unrealized		Fair
(in thousands)	Basis		Gains		Losses		Value

Corporate debt securities	$	34,366	$	57	$	(243)	$	34,180
Government bonds		50,628		274		(714)		50,188
Mortgage-backed securities		22,014		59		(279)		21,794
Asset-backed securities and other		14,481		34		(34)		14,481
	$	121,489	$	424	$	(1,270)	$	120,643


	August 31, 2024
	Amortized		Gross		Gross
	Cost		Unrealized		Unrealized		Fair
(in thousands)	Basis		Gains		Losses		Value

Corporate debt securities	$	32,355	$	183	$	(78)	$	32,460
Government bonds		50,251		483		(493)		50,241
Mortgage-backed securities		22,859		326		(95)		23,090
Asset-backed securities and other		16,327		66		(26)		16,367
	$	121,792	$	1,058	$	(692)	$	122,158

Contractual maturities Available for Sale Marketable Debt Securities

The contractual maturities of the Company’s available for sale marketable debt securities are as follows:


	November 23, 2024
	Amortized		Fair
(in thousands)	Cost Basis		Value

Due within one year	$	35,904	$	34,335
Due after one year through five years		50,134		51,471
Due after five years through ten years		18,540		18,085
Due after ten years		16,911		16,752
	$	121,489	$	120,643

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

Share-Based Payments

3 Months Ended

Nov. 23, 2024

Share-Based Payments

Share-Based Payments

Note K – Share-Based Payments

AutoZone maintains several equity incentive plans, which provide equity-based compensation to non-employee directors and eligible employees for their service to AutoZone, its subsidiaries or affiliates. The Company recognizes compensation expense for share-based payments based on the fair value of the awards at the grant date. Share-based payments include stock option grants, restricted stock grants, restricted stock unit grants, stock appreciation rights, discounts on shares sold to employees under share purchase plans and other awards. Additionally, directors’ fees are paid in restricted stock units with value equivalent to the value of shares of common stock as of the grant date. The change in fair value of liability-based stock awards is also recognized in share-based compensation expense.

Stock Options:

The Company made stock option grants for 118,813 shares during the twelve week period ended November 23, 2024, and granted options to purchase 130,723 shares during the comparable prior year period. The Company grants options to purchase common stock to certain of its employees under its equity incentive plans at prices equal to or above the market value of the stock on the date of grant. Option-vesting periods range from four to five years, with the vast majority of options vesting ratably over four years. The fair value of each option is amortized into compensation expense on a straight-line basis over the requisite service period, less estimated forfeitures. Employees who meet the qualified retirement provisions under the AutoZone, Inc. 2020 Omnibus Incentive Award Plan are assumed to have a 0% forfeiture rate. All other employee grants assume a 10% forfeiture rate, which is based on historical experience.

The weighted average fair value of the stock option awards granted during the twelve week periods ended November 23, 2024, and November 18, 2023, using the Black-Scholes-Merton multiple-option pricing valuation model, was $1,020.28 and $913.31 per share, respectively, using the following weighted average key assumptions:


	Twelve Weeks Ended
	November 23,		November 18,
	2024		2023

Expected price volatility	26	%	29	%
Risk-free interest rate	3.9	%	4.8	%
Weighted average expected lives (in years)	5.5		5.4
Forfeiture rate	7	%	7	%
Dividend yield	0	%	0	%

During the twelve week period ended November 23, 2024, and the comparable prior year period, 41,085 and 44,644 stock options, respectively, were exercised at a weighted average exercise price of $872.81 and $931.85, respectively.

As of November 23, 2024, total unrecognized share-based expense related to stock options, net of estimated forfeitures, was approximately $196.7 million, before income taxes, which we expect to recognize over an estimated weighted average period of 3.3 years.

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. Grants of employee restricted stock units 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. Grants of non-employee director restricted stock units are made and expensed on January 1 of each year, as they vest immediately.

The Company made grants of 2,054 and 2,173 restricted stock unit awards at weighted average grant date fair values of $3,129.78 and $2,549.04, respectively, during the twelve week periods ended November 23, 2024, and November 18, 2023.

During the twelve week period ended November 23, 2024, and the comparable prior year period, 2,529 and 3,741 restricted stock unit awards, respectively, were vested at a weighted average grant date fair value of $1,716.43 and $1,383.34, respectively.

As of November 23, 2024, total unrecognized stock-based compensation expense related to nonvested restricted stock unit awards, net of estimated forfeitures, was approximately $11.8 million, before income taxes, which we expect to recognize over an estimated weighted average period of 3.1 years.

Total share-based compensation expense (a component of Operating, selling, general and administrative expenses) was $26.1 million and $22.9 million, respectively, for the twelve week periods ended November 23, 2024, and November 18, 2023.

For the twelve week period ended November 23, 2024, and the comparable prior year period, 81,028 and 169,798 stock options, respectively, were excluded from the diluted earnings per share computation because they would have been anti-dilutive.

See AutoZone’s Annual Report on Form 10-K for the year ended August 31, 2024, and other filings with the SEC, for a discussion regarding the methodology used in developing AutoZone’s assumptions to determine the fair value of the option awards and a description of AutoZone’s Amended and Restated 2011 Equity Incentive Award Plan, the AutoZone, Inc. 2020 Omnibus Incentive Award Plan and the Director Compensation Program.

Segment Reporting - Segment Results (Detail) - USD ($) $ in Thousands	3 Months Ended
	Nov. 23, 2024	Nov. 18, 2023
Segment Reporting Information [Line Items]
Net Sales	$ 4,279,641	$ 4,190,277
Gross profit	2,268,057	2,214,016
Operating, selling, general and administrative expenses	(1,426,908)	(1,365,412)
Interest expense, net	(107,629)	(91,384)
Income before income taxes	733,520	757,220
Auto Parts Stores
Segment Reporting Information [Line Items]
Net Sales	4,199,732	4,115,694
Gross profit	2,220,608	2,170,025
Other
Segment Reporting Information [Line Items]
Net Sales	79,909	74,583
Gross profit	$ 47,449	$ 43,991

- Definition

Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

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

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Financing (Tables)

3 Months Ended

Nov. 23, 2024

Financing

Schedule of Debt

The Company’s debt consisted of the following:


	November 23,		August 31,
(in thousands)	2024		2024

3.250% Senior Notes due April 2025, effective interest rate 3.36%	$	400,000	$	400,000
3.625% Senior Notes due April 2025, effective interest rate 3.78%		500,000		500,000
3.125% Senior Notes due April 2026, effective interest rate 3.28%		400,000		400,000
5.050% Senior Notes due July 2026, effective interest rate 5.09%		450,000		450,000
3.750% Senior Notes due June 2027, effective interest rate 3.83%		600,000		600,000
4.500% Senior Notes due February 2028, effective interest rate 4.43%		450,000		450,000
6.250% Senior Notes due November 2028, effective interest rate 6.46%		500,000		500,000
3.750% Senior Notes due April 2029, effective interest rate 3.86%		450,000		450,000
5.100% Senior Notes due July 2029, effective interest rate 5.30%		600,000		600,000
4.000% Senior Notes due April 2030, effective interest rate 4.09%		750,000		750,000
1.650% Senior Notes due January 2031, effective interest rate 2.19%		600,000		600,000
4.750% Senior Notes due August 2032, effective interest rate 4.76%		750,000		750,000
4.750% Senior Notes due February 2033, effective interest rate 4.70%		550,000		550,000
5.200% Senior Notes due August 2033, effective interest rate 5.22%		300,000		300,000
6.550% Senior Notes due November 2033, effective interest rate 6.71%		500,000		500,000
5.400% Senior Notes due July 2034, effective interest rate 5.54%		700,000		700,000
Commercial paper, weighted average interest rate 4.65% at November 23, 2024 and 5.40% at August 31, 2024		565,000		580,000
Total debt before discounts and debt issuance costs		9,065,000		9,080,000
Less: Discounts and debt issuance costs		52,461		55,619
Long-term debt	$	9,012,539	$	9,024,381

- 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.

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+ Details

Fair Value Measurements - Company's Marketable Debt Securities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Nov. 23, 2024	Aug. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 120,643	$ 122,158
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other current assets	34,335	38,431
Other long-term assets	86,308	83,727
Total	120,643	122,158
Level 1 \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other current assets	21,486	26,697
Other long-term assets	31,153	27,031
Total	52,639	53,728
Level 2 \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other current assets	12,849	11,734
Other long-term assets	55,155	56,696
Total	$ 68,004	$ 68,430

- Definition

Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 103
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Reference 2: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479130/326-30-45-1

+ Details

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Nov. 23, 2024	Nov. 18, 2023
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 564,933	$ 593,463
Other comprehensive (loss) income:
Foreign currency translation adjustments	(44,989)	(20,221)
Unrealized (losses) gains on marketable debt securities, net of taxes	(952)	295
Net derivative activities, net of taxes	404	403
Total other comprehensive loss	(45,537)	(19,523)
Comprehensive income	$ 519,396	$ 573,940

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

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

+ References

+ Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

+ Details

Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	3 Months Ended
	Nov. 23, 2024	Nov. 18, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	$ (4,749,614)	$ (4,349,894)
Balance	(4,672,921)	(5,213,671)
Foreign Currency
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(351,272)	(176,557)
Other comprehensive loss before reclassifications	(44,989)	(20,221)
Balance	(396,261)	(196,778)
Net Unrealized Gain (Loss) on Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	300	(1,851)
Other comprehensive loss before reclassifications	(952)	295
Balance	(652)	(1,556)
Derivatives
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(10,646)	(12,428)
Other comprehensive loss before reclassifications	0
Amounts reclassified from Accumulated other comprehensive loss	404	403
Balance	(10,242)	(12,025)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(361,618)	(190,836)
Other comprehensive loss before reclassifications	(45,941)	(19,926)
Amounts reclassified from Accumulated other comprehensive loss	404	403
Balance	$ (407,155)	$ (210,359)

- Definition

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

+ References + Details

- Definition

Amount after tax, before reclassification adjustments of other comprehensive income (loss).

+ References + Details

- Definition

Amount after tax of reclassification adjustments of other comprehensive income (loss).

+ References + Details

- Definition

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

+ References

+ Details

Financing - Additional Information (Detail) - USD ($) $ in Thousands	Nov. 15, 2024	Nov. 15, 2022	Nov. 23, 2024	Aug. 31, 2024	Nov. 15, 2021	Nov. 14, 2021
Debt Instrument [Line Items]
Remaining borrowing capacity under revolving credit agreement			$ 2,200,000
Fair value of the Company's debt			8,900,000	$ 9,000,000
Excess (shortfall) of fair value of debt over (from) carrying value			(120,800)	3,500
Surety Bond
Debt Instrument [Line Items]
Guarantee obligations			47,700	48,900
Revolving Credit Agreement
Debt Instrument [Line Items]
Amount available under credit facility					$ 2,250,000	$ 2,000,000
Maximum amount available under credit facility					$ 3,250,000	$ 2,250,000
Extended expiration of credit facility	1 year	1 year
Borrowings, outstanding			0
Letters of credit, outstanding			1,700
Swingline Loans
Debt Instrument [Line Items]
Maximum amount available under credit facility		$ 75,000
Individual Issuer, Letter of Credit
Debt Instrument [Line Items]
Maximum amount available under credit facility		50,000
Letter of Credit
Debt Instrument [Line Items]
Maximum amount available under credit facility		$ 250,000	25,000
Letters of credit, outstanding			141,600	141,600
Master Extension Agreement
Debt Instrument [Line Items]
Credit facility expiration date		Nov. 15, 2028
Revolving Credit Facility
Debt Instrument [Line Items]
Letters of credit, outstanding			0	0
Commercial paper
Debt Instrument [Line Items]
Commercial paper borrowings			565,000	580,000
3.250% Senior Notes due April 2025, effective interest rate 3.36%
Debt Instrument [Line Items]
Senior notes			$ 400,000	$ 400,000
Stated interest rate percentage			3.25%	3.25%
3.625% Senior Notes due April 2025, effective interest rate 3.78%
Debt Instrument [Line Items]
Senior notes			$ 500,000	$ 500,000
Stated interest rate percentage			3.625%	3.625%

Marketable Debt Securities - Available-for-Sale Marketable Securities (Detail) - USD ($) $ in Thousands	Nov. 23, 2024	Aug. 31, 2024
Schedule of Available-for-sale Securities [Line Items]
Total	$ 121,489	$ 121,792
Available-For-Sale Marketable Securities, Gross Unrealized Gains	424	1,058
Available-For-Sale Marketable Securities, Gross Unrealized Losses	(1,270)	(692)
Available-For-Sale Marketable Securities, Fair Value	120,643	122,158
Corporate debt securities
Schedule of Available-for-sale Securities [Line Items]
Total	34,366	32,355
Available-For-Sale Marketable Securities, Gross Unrealized Gains	57	183
Available-For-Sale Marketable Securities, Gross Unrealized Losses	(243)	(78)
Available-For-Sale Marketable Securities, Fair Value	34,180	32,460
Government bonds
Schedule of Available-for-sale Securities [Line Items]
Total	50,628	50,251
Available-For-Sale Marketable Securities, Gross Unrealized Gains	274	483
Available-For-Sale Marketable Securities, Gross Unrealized Losses	(714)	(493)
Available-For-Sale Marketable Securities, Fair Value	50,188	50,241
Mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Total	22,014	22,859
Available-For-Sale Marketable Securities, Gross Unrealized Gains	59	326
Available-For-Sale Marketable Securities, Gross Unrealized Losses	(279)	(95)
Available-For-Sale Marketable Securities, Fair Value	21,794	23,090
Asset-backed securities and other
Schedule of Available-for-sale Securities [Line Items]
Total	14,481	16,327
Available-For-Sale Marketable Securities, Gross Unrealized Gains	34	66
Available-For-Sale Marketable Securities, Gross Unrealized Losses	(34)	(26)
Available-For-Sale Marketable Securities, Fair Value	$ 14,481	$ 16,367

- Definition

Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

+ Details

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 2
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

+ Details

Segment Reporting - Additional Information (Detail)	3 Months Ended
Segment Reporting - Additional Information (Detail)	Nov. 23, 2024 store segment
Segment Reporting Information [Line Items]
Number of reportable segments	1
Number of automotive parts and accessories locations in the United States, Mexico, and Brazil \| store	7,387
Other
Segment Reporting Information [Line Items]
Number of operating segments	2

Marketable Debt Securities

3 Months Ended

Nov. 23, 2024

Marketable Debt Securities

Marketable Debt Securities

Note E – Marketable Debt Securities

Marketable debt securities are carried at fair value, with unrealized gains and losses, net of income taxes, recorded in Accumulated other comprehensive loss until realized, and any credit risk related losses are recognized in net income in the period incurred. The Company’s basis for determining the cost of a security sold is the “Specific Identification Model.”

The Company’s available-for-sale marketable debt securities consisted of the following:


	November 23, 2024
	Amortized		Gross		Gross
	Cost		Unrealized		Unrealized		Fair
(in thousands)	Basis		Gains		Losses		Value

Corporate debt securities	$	34,366	$	57	$	(243)	$	34,180
Government bonds		50,628		274		(714)		50,188
Mortgage-backed securities		22,014		59		(279)		21,794
Asset-backed securities and other		14,481		34		(34)		14,481
	$	121,489	$	424	$	(1,270)	$	120,643


	August 31, 2024
	Amortized		Gross		Gross
	Cost		Unrealized		Unrealized		Fair
(in thousands)	Basis		Gains		Losses		Value

Corporate debt securities	$	32,355	$	183	$	(78)	$	32,460
Government bonds		50,251		483		(493)		50,241
Mortgage-backed securities		22,859		326		(95)		23,090
Asset-backed securities and other		16,327		66		(26)		16,367
	$	121,792	$	1,058	$	(692)	$	122,158

The contractual maturities of the Company’s available for sale marketable debt securities are as follows:


	November 23, 2024
	Amortized		Fair
(in thousands)	Cost Basis		Value

Due within one year	$	35,904	$	34,335
Due after one year through five years		50,134		51,471
Due after five years through ten years		18,540		18,085
Due after ten years		16,911		16,752
	$	121,489	$	120,643

At November 23, 2024, the Company held 92 securities that are in an unrealized loss position of approximately $1.3 million. In evaluating whether a credit loss exists for the securities, the Company considers factors such as the severity of the loss position, the credit worthiness of the investee, the term to maturity and the intent and ability to hold the investments until maturity or until recovery of fair value. An allowance for credit losses was deemed unnecessary given consideration of the factors above. The Company did not realize any material gains or losses on its marketable debt securities during the twelve week period ended November 23, 2024, and the comparable prior year period.

Included above in total available-for-sale marketable debt securities are $111.5 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 November 23, 2024, and August 31, 2024.

Financing

3 Months Ended

Nov. 23, 2024

Financing

Financing

Note H – Financing

The Company’s debt consisted of the following:


	November 23,		August 31,
(in thousands)	2024		2024

3.250% Senior Notes due April 2025, effective interest rate 3.36%	$	400,000	$	400,000
3.625% Senior Notes due April 2025, effective interest rate 3.78%		500,000		500,000
3.125% Senior Notes due April 2026, effective interest rate 3.28%		400,000		400,000
5.050% Senior Notes due July 2026, effective interest rate 5.09%		450,000		450,000
3.750% Senior Notes due June 2027, effective interest rate 3.83%		600,000		600,000
4.500% Senior Notes due February 2028, effective interest rate 4.43%		450,000		450,000
6.250% Senior Notes due November 2028, effective interest rate 6.46%		500,000		500,000
3.750% Senior Notes due April 2029, effective interest rate 3.86%		450,000		450,000
5.100% Senior Notes due July 2029, effective interest rate 5.30%		600,000		600,000
4.000% Senior Notes due April 2030, effective interest rate 4.09%		750,000		750,000
1.650% Senior Notes due January 2031, effective interest rate 2.19%		600,000		600,000
4.750% Senior Notes due August 2032, effective interest rate 4.76%		750,000		750,000
4.750% Senior Notes due February 2033, effective interest rate 4.70%		550,000		550,000
5.200% Senior Notes due August 2033, effective interest rate 5.22%		300,000		300,000
6.550% Senior Notes due November 2033, effective interest rate 6.71%		500,000		500,000
5.400% Senior Notes due July 2034, effective interest rate 5.54%		700,000		700,000
Commercial paper, weighted average interest rate 4.65% at November 23, 2024 and 5.40% at August 31, 2024		565,000		580,000
Total debt before discounts and debt issuance costs		9,065,000		9,080,000
Less: Discounts and debt issuance costs		52,461		55,619
Long-term debt	$	9,012,539	$	9,024,381

On November 15, 2021, the Company amended and restated its existing revolving credit facility (as amended from time to time, the “Revolving Credit Agreement”) pursuant to which the Company’s borrowing capacity was increased from $2.0 billion to $2.25 billion, and the maximum borrowing under the Revolving Credit Agreement may, at the Company’s option, subject to lenders’ approval, be increased from $2.25 billion to $3.25 billion. On November 15, 2022, the Company amended the Revolving Credit Agreement, extending the termination date by one year, and on November 15, 2024 the Company amended the Revolving Credit Agreement to extend the termination date an additional one year. As amended, the Revolving Credit Agreement will terminate, and all amounts borrowed will be due and payable on November 15, 2028. Revolving borrowings under the Revolving Credit Agreement may be base rate loans, Term Secured Overnight Financing Rate (“SOFR”) loans, or a combination of both, at AutoZone’s election. The Revolving Credit Agreement includes (i) a $75 million sublimit for swingline loans, (ii) a $50 million individual issuer letter of credit sublimit and (iii) a $250 million aggregate sublimit for all letters of credit.

Under the Company’s Revolving Credit Agreement, 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.

As of November 23, 2024, the Company had no outstanding borrowings and $1.7 million of outstanding letters of credit under the Revolving Credit Agreement.

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. As of November 23, 2024, and August 31, 2024, the Company had no letters of credit outstanding under the letter of credit facility, which expires in June 2025.

In addition to the outstanding letters of credit issued under the committed facilities discussed above, the Company had $141.6 million in letters of credit outstanding as of both November 23, 2024 and August 31, 2024. These letters of credit

have various maturity dates and were issued on an uncommitted basis. Additionally, the Company’s total surety bonds commitment was $47.7 million at November 23, 2024, compared with $48.9 million at August 31, 2024. Since its fiscal year end, the Company has canceled, issued and modified stand-by letters of credit that are primarily renewed on an annual basis to cover deductible payments to its casualty insurance carriers.

As of November 23, 2024, the $565 million commercial paper borrowings, the $400 million 3.250% Senior Notes due April 2025 and the $500 million 3.625% Senior Notes due April 2025 were classified as long-term debt in the accompanying Condensed Consolidated Balance Sheets as the Company currently has the ability and intent to refinance them on a long-term basis through available capacity under its Revolving Credit Agreement. As of November 23, 2024, the Company had $2.2 billion of availability under its Revolving Credit Agreement, without giving effect to commercial paper borrowings, which would allow it to replace these short-term obligations with a long-term financing facility.

The Senior Notes contain a provision that repayment may be accelerated if the Company experiences both a change of control and a rating event (both as defined in the agreements). The Company’s borrowings under its Senior Notes contain minimal covenants, primarily restrictions on liens. 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. Interest for the Senior Notes is paid on a semi-annual basis.

The fair value of the Company’s debt was estimated at $8.9 billion as of November 23, 2024, and $9.0 billion as of August 31, 2024, 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 less than the carrying value of debt by $120.8 million and greater than the carrying value of debt by $3.5 million at November 23, 2024, and August 31, 2024, respectively, which reflects their face amount, adjusted for any unamortized debt issuance costs and discounts.

As of November 23, 2024, the Company was in compliance with all covenants and expects to remain in compliance with all covenants under its borrowing arrangements.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
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-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
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-Name Accounting Standards Codification
-Section 50
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+ Details

Supplier Financing Programs

3 Months Ended

Nov. 23, 2024

Supplier Financing Programs

Supplier Financing Programs

Note F – Supplier Financing Programs

The Company has arrangements with third-party financial institutions to confirm invoice balances owed by the Company to certain suppliers and pay the financial institutions the confirmed amounts on the invoice due dates. These arrangements allow the Company’s inventory suppliers, at their sole discretion, to enter into agreements directly with these financial institutions to finance the Company’s obligations to the suppliers at terms negotiated between the suppliers and the financial institutions. Supplier participation is optional and our obligations to our suppliers, including the amount and dates due, are not impacted by our suppliers’ decision to enter into an agreement with a third-party financial institution. As of November 23, 2024, and August 31, 2024, the Company had supplier obligations outstanding that had been confirmed under these arrangements of $5.0 billion and $4.9 billion, respectively, which are included in Accounts payable and $206.5 million and $226.7 million, respectively, which are included in Other long-term liabilities in the Condensed Consolidated Balance Sheets.

Supplier Financing Programs (Detail) - USD ($) $ in Millions	Nov. 23, 2024	Aug. 31, 2024
Supplier Financing Programs
Obligations outstanding under supplier financing arrangements, current	$ 5,000.0	$ 4,900.0
Supplier Finance Program, Obligation, Current, Statement of Financial Position [Extensible Enumeration]	Accounts Payable, Current	Accounts Payable, Current
Obligations outstanding under supplier financing arrangements, noncurrent	$ 206.5	$ 226.7
Supplier Finance Program, Obligation, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent

Share-Based Payments - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Nov. 23, 2024	Nov. 18, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted	118,813	130,723
Forfeiture rate	7.00%	7.00%
Weighted average grant date fair value of options granted	$ 1,020.28	$ 913.31
Stock options exercised - shares	41,085	44,644
Stock options exercised - weighted average exercise price	$ 872.81	$ 931.85
Unrecognized share-based compensation expense related to stock options, net of forfeitures	$ 196,700
Estimated weighted average period	3 years 3 months 18 days
Share-based compensation expense	$ 26,117	$ 22,913
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Anti-dilutive shares excluded from the computation of earnings per share	81,028	169,798
Share-Based Payment Arrangement, Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Forfeiture rate	10.00%
Omnibus Incentive Award Plan 2020 \| Share-Based Payment Arrangement, Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Forfeiture rate	0.00%
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated weighted average period	3 years 1 month 6 days
Service period	4 years
Restricted stock unit awards, number of shares granted	2,054	2,173
Restricted stock unit awards, granted, weighted average grant date fair value	$ 3,129.78	$ 2,549.04
Restricted stock unit awards, number of shares vested	2,529	3,741
Restricted stock unit awards, vested, weighted average grant date fair value	$ 1,716.43	$ 1,383.34
Non vested restricted stock unit award	$ 11,800
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option-vesting periods	4 years
Stock Options \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option-vesting periods	4 years
Stock Options \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option-vesting periods	5 years

Fair Value Measurements (Tables)

3 Months Ended

Nov. 23, 2024

Fair Value Measurements

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:


	November 23, 2024
(in thousands)	Level 1		Level 2		Level 3		Fair Value

Other current assets	$	21,486	$	12,849	$	—	$	34,335
Other long-term assets		31,153		55,155		—		86,308
	$	52,639	$	68,004	$	—	$	120,643


	August 31, 2024
(in thousands)	Level 1		Level 2		Level 3		Fair Value

Other current assets	$	26,697	$	11,734	$	—	$	38,431
Other long-term assets		27,031		56,696		—		83,727
	$	53,728	$	68,430	$	—	$	122,158

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT (Parenthetical) - shares	3 Months Ended		323 Months Ended
	Nov. 23, 2024	Nov. 18, 2023	Nov. 23, 2024
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT
Purchase of treasury stock, shares	160,100	580,000	155,300,000