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<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 10pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
The Company’s <font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">available-for-sale</font></font> marketable
debt securities consisted of the following:</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 </p>
<table style="FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
<tr>
<td width="87%"></td>
<td valign="bottom" width="3%"></td>
<td style="WIDTH: 39pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 39pt"></td>
<td valign="bottom" width="3%"></td>
<td style="WIDTH: 72pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 72pt"></td>
<td valign="bottom" width="3%"></td>
<td style="WIDTH: 73pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 73pt"></td>
<td valign="bottom" width="3%"></td>
<td style="WIDTH: 25pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 25pt"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; break-inside: avoid">
<td valign="bottom"> </td>
<td valign="bottom">    </td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="19" align="center"><b>November 17, 2018</b></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; break-inside: avoid">
<td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" nowrap="nowrap">
<p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; MARGIN-TOP: 0pt">
<i>  (in thousands)</i></p>
</td>
<td valign="bottom">    </td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="4" align="center">
<b>    Amortized    <br />
Cost</b><br />
<b>Basis</b></td>
<td valign="bottom">    </td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="4" align="center"><b>Gross<br />
    Unrealized    <br />
Gains</b></td>
<td valign="bottom">    </td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="4" align="center"><b>Gross<br />
    Unrealized    <br />
Losses</b></td>
<td valign="bottom">    </td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="4" align="center">
<b>  Fair Value  </b></td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="13"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; break-inside: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Corporate debt securities</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">46,378</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">(751</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">45,627</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; break-inside: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Government bonds</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">30,376</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">4</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(219</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">30,161</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; break-inside: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Mortgage-backed securities</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">2,902</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(81</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">2,821</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; break-inside: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Asset-backed securities and other</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">50,484</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(151</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">50,333</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; break-inside: avoid" bgcolor="#CCEEFF">
<td valign="top"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">130,140</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">4</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">(1,202</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">128,942</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="32"></td>
<td height="32" colspan="5"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; break-inside: avoid">
<td valign="bottom"> </td>
<td valign="bottom">    </td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="19" align="center"><b>August 25, 2018</b></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; break-inside: avoid">
<td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" nowrap="nowrap">
<p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; MARGIN-TOP: 0pt">
<i>  (in thousands)</i></p>
</td>
<td valign="bottom">    </td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="4" align="center">
<b>    Amortized    <br />
Cost</b><br />
<b>Basis</b></td>
<td valign="bottom">    </td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="4" align="center"><b>Gross<br />
    Unrealized    <br />
Gains</b></td>
<td valign="bottom">    </td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="4" align="center"><b>Gross<br />
    Unrealized    <br />
Losses</b></td>
<td valign="bottom">    </td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="4" align="center">
<b>  Fair Value  </b></td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="13"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; break-inside: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Corporate debt securities</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">50,306</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">(684</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">49,622</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; break-inside: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Government bonds</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">28,777</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(173</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">28,604</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; break-inside: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Mortgage-backed securities</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">3,248</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(90</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">3,158</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; break-inside: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Asset-backed securities and other</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">53,445</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(153</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">53,292</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; break-inside: avoid" bgcolor="#CCEEFF">
<td valign="top"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
      135,776</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">
          –</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
      (1,100</td>
<td valign="bottom" nowrap="nowrap">) </td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
      134,676</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
</tr>
</table>
</div>
34262000
311145000
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
<b>Note I – Accumulated Other Comprehensive Loss</b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
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
<font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">available-for-sale</font></font> securities.
Changes in Accumulated other comprehensive loss for the twelve week
periods ended November 17, 2018 and November 18, 2017
consisted of the following:</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; MARGIN-TOP: 0pt">
 </p>
<table style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
<tr>
<td width="37%"></td>
<td valign="bottom" width="7%"></td>
<td style="WIDTH: 24pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 24pt"></td>
<td valign="bottom" width="6%"></td>
<td style="WIDTH: 71pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 71pt"></td>
<td valign="bottom" width="7%"></td>
<td style="WIDTH: 89pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 89pt"></td>
<td valign="bottom" width="6%"></td>
<td style="WIDTH: 26pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 26pt"></td>
<td valign="bottom" width="6%"></td>
<td style="WIDTH: 10pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 10pt"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" nowrap="nowrap">
<p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt">
<i>  (in thousands)</i></p>
</td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" nowrap="nowrap" align="center"><b>Pension</b><br />
<b>  Liability<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(6)</sup>  </b></td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" nowrap="nowrap" align="center"><b>Foreign<br />
Currency and<br />
Other<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(3)</sup></b></td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center"><b>Net<br />
Unrealized<br />
Gain (Loss)<br />
  on Securities  </b></td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center">
<b>  Derivatives  </b></td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center"><b>Total</b></td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="13"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Balance at August 25, 2018</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">(228,899</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">(873</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">(6,033</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">(235,805</td>
<td valign="bottom" nowrap="nowrap">)</td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Other comprehensive loss before reclassifications<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(40,573</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(77</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(40,650</td>
<td valign="bottom" nowrap="nowrap">)</td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Amounts reclassified from Accumulated other comprehensive
loss<b><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(</sup></b><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">1</sup><b><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">)</sup></b></p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">389</td>
<td valign="bottom" nowrap="nowrap"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(5)</sup> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">389</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Balance at November 17, 2018</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">
            –</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
    (269,472</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
        (950</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
    (5,644</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
    (276,066</td>
<td valign="bottom" nowrap="nowrap">)</td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="13"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" nowrap="nowrap">
<p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt">
<i>  (in thousands)</i></p>
</td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center"><b>Pension</b><br />
<b>Liability</b></td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center"><b>Foreign<br />
Currency and<br />
Other<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(3)</sup></b></td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center"><b>Net</b><br />
<b>Unrealized<br />
Gain (Loss)<br />
on Securities</b></td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center"><b>Derivatives</b></td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center"><b>Total</b></td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="13"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Balance at August 26, 2017</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">(72,376</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">(175,814</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">(11</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">(6,356</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">(254,557</td>
<td valign="bottom" nowrap="nowrap">)  </td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Other comprehensive loss before reclassifications<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
–  </td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(43,217</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(314</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
–  </td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(43,531</td>
<td valign="bottom" nowrap="nowrap">)</td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Amounts reclassified from Accumulated other comprehensive
loss<b><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(</sup></b><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">1</sup><b><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">)</sup></b></p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">1,316</td>
<td valign="bottom" nowrap="nowrap"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(2</td>
<td valign="bottom" nowrap="nowrap">)<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4)</sup></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">323</td>
<td valign="bottom" nowrap="nowrap"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(5)</sup> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">1,637</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Balance at November 18, 2017</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">  (71,060</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">  (219,031</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
        (327</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
      (6,033</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
    (296,451</td>
<td valign="bottom" nowrap="nowrap">)</td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 16pt; MARGIN-TOP: 0pt">
 </p>
<table style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
<tr style="PAGE-BREAK-INSIDE: avoid">
<td valign="top" width="3%" align="left"><i>(1)</i></td>
<td valign="top" align="left">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="left"><i>Amounts in parentheses indicate debits to
Accumulated other comprehensive loss.</i></p>
</td>
</tr>
</table>
<table style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
<tr style="PAGE-BREAK-INSIDE: avoid">
<td valign="top" width="3%" align="left"><i>(2)</i></td>
<td valign="top" align="left">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="left"><i>Represents amortization of pension liability
adjustments, net of taxes of $1,161 in fiscal 2018, which is
recorded in Operating, selling, general and administrative expenses
on the Condensed Consolidated Statements of Income.</i></p>
</td>
</tr>
</table>
<table style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
<tr style="PAGE-BREAK-INSIDE: avoid">
<td valign="top" width="3%" align="left"><i>(3)</i></td>
<td valign="top" align="left">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="left"><i>Foreign currency is shown net of U.S. tax to
account for foreign currency impacts of certain undistributed
<font style="WHITE-SPACE: nowrap">non-U.S.</font> subsidiaries
earnings. Other foreign currency is not shown net of additional
U.S. tax as other basis differences of <font style="WHITE-SPACE: nowrap">non-U.S.</font> subsidiaries are intended to
be permanently reinvested.</i></p>
</td>
</tr>
</table>
<table style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
<tr style="PAGE-BREAK-INSIDE: avoid">
<td valign="top" width="3%" align="left"><i>(4)</i></td>
<td valign="top" align="left">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="left"><i>Represents realized losses on marketable debt
securities, net of taxes of $1 in fiscal 2018, which is recorded in
Operating, selling, general and administrative expenses on the
Condensed Consolidated Statements of Income. See “Note D
– Marketable Debt Securities” for further
discussion.</i></p>
</td>
</tr>
</table>
<table style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
<tr style="PAGE-BREAK-INSIDE: avoid">
<td valign="top" width="3%" align="left"><i>(5)</i></td>
<td valign="top" align="left">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="left"><i>Represents losses on derivatives, net of taxes of
$120 in fiscal 2019 and $186 in fiscal 2018, which is recorded in
Interest expense, net, on the Condensed Consolidated Statements of
Income. See “Note E – Derivative Financial
Instruments” for further discussion.</i></p>
</td>
</tr>
</table>
<table style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
<tr style="PAGE-BREAK-INSIDE: avoid">
<td valign="top" width="3%" align="left"><i>(6)</i></td>
<td valign="top" align="left">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="left"><i>On December 19, 2017, the Board of Directors
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 pension benefit
obligation.</i></p>
</td>
</tr>
</table>
</div>
1224259000
--08-25
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt">
<b>Note G – Financing</b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
The Company’s long-term debt consisted of the following:</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; MARGIN-TOP: 0pt">
 </p>
<table style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="92%" border="0">
<tr>
<td width="72%"></td>
<td valign="bottom" width="6%"></td>
<td style="WIDTH: 35pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 35pt"></td>
<td valign="bottom" width="6%"></td>
<td style="WIDTH: 44pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 44pt"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" nowrap="nowrap">
<p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt">
<i>(in thousands)</i></p>
</td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center">
<b>    November 17,    </b><br />
<b>2018</b></td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center">
<b>      August 25,      <br />
2018</b></td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="13"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
  1.625% Senior Notes due April 2019, effective interest
rate of 1.77%</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">250,000</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">250,000</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
  4.000% Senior Notes due November 2020, effective
interest rate of 4.43%</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">500,000</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">500,000</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
  2.500% Senior Notes due April 2021, effective interest
rate of 2.62%</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">250,000</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">250,000</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
  3.700% Senior Notes due April 2022, effective interest
rate of 3.85%</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">500,000</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">500,000</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
  2.875% Senior Notes due January 2023, effective
interest rate of 3.21%</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">300,000</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">300,000</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
  3.125% Senior Notes due July 2023, effective interest
rate of 3.26%</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">500,000</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">500,000</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
  3.250% Senior Notes due April 2025, effective interest
rate 3.36%</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">400,000</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">400,000</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
  3.125% Senior Notes due April 2026, effective interest
rate of 3.28%</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">400,000</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">400,000</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
  3.750% Senior Notes due June 2027, effective interest
rate of 3.83%</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">600,000</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">600,000</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Commercial paper, weighted average interest rate of 2.55% and 2.29%
at November 17, 2018 and August 25, 2018,
respectively</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">1,474,678</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">1,325,300</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
  Total debt before discounts and debt issuance costs</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">5,174,678</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">5,025,300</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Less: Discounts and debt issuance costs</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">18,641</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">19,370</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
  Long-term debt</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
    5,156,037</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
    5,005,930</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
As of November 17, 2018, the commercial paper borrowings and
the $250 million 1.625% Senior Notes due April 2019 are
classified as long-term in the accompanying Consolidated Balance
Sheets as the Company has the ability and intent to refinance them
on a long-term basis through available capacity in its revolving
credit facilities. As of November 17, 2018, the Company had
$1.997 billion of availability under its $2.0 billion
revolving credit facility, which would allow it to replace these
short-term obligations with long-term financing facilities.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
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; 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; (iii) the termination date of the Revolving
Credit Agreement was extended from November 18, 2021 until
November 18, 2022; and (iv) 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.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
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, <font style="WHITE-SPACE: nowrap">(non-credit</font> enhanced) long-term debt
ratings. Interest accrues on base rate loans as defined in the
Revolving Credit Agreement. As of November 17, 2018, the
Company had $3.3 million of outstanding letters of credit
under the Revolving Credit Agreement.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
The fair value of the Company’s debt was estimated at
$5.065 billion as of November 17, 2018, 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 less than the the carrying value of debt by
$90.6 million at November 17, 2018, which reflects their
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.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
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
applicable scheduled payment date if covenants are breached or an
event of default occurs. As of November 17, 2018, the Company
was in compliance with all covenants and expect to remain in
compliance with all covenants under its borrowing arrangements.</p>
</div>
7420000
82452000
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
<b>Note B – Share-Based Payments</b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
AutoZone maintains the Amended 2011 Equity Plan, which provides
equity-based compensation to <font style="WHITE-SPACE: nowrap">non-employee</font> 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 and the
discount on shares sold to employees under share purchase plans.
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.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
<u>Stock Options:</u></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt">
The Company made stock option grants of 171,293 shares during the
twelve week period ended November 17, 2018, and granted
options to purchase 282,820 shares during the comparable prior year
period. The weighted average fair value of the stock option awards
granted during the twelve week periods ended November 17, 2018
and November 18, 2017, using the Black-Scholes-Merton
multiple-option pricing valuation model, was $208.31 and $128.93
per share, respectively, using the following weighted average key
assumptions:</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; MARGIN-TOP: 0pt">
 </p>
<table style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="96%" border="0">
<tr>
<td width="96%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="bottom"> </td>
<td valign="bottom">    </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="6" align="center"><b>    Twelve Weeks
Ended    </b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-BOTTOM: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">    </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center">
<b>    November 17,    </b><br />
<b>    2018    </b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center">
<b>November 18,      </b><br />
<b>2017      </b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="13"></td>
<td height="13" colspan="4"></td>
<td height="13" colspan="4"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Expected price volatility</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">21%    </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">20%    </td>
<td valign="bottom" nowrap="nowrap"> </td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Risk-free interest rate</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">3.1%    </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">1.9%    </td>
<td valign="bottom" nowrap="nowrap"> </td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Weighted average expected lives (in years)</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">5.6    </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">5.1    </td>
<td valign="bottom" nowrap="nowrap"> </td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Forfeiture rate</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">10%    </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">10%    </td>
<td valign="bottom" nowrap="nowrap"> </td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Dividend yield</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">0%    </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">0%    </td>
<td valign="bottom" nowrap="nowrap"> </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
During the twelve week period ended November 17, 2018, 129,559
stock options were exercised at a weighted average exercise price
of $359.94. In the comparable prior year period, 24,761 stock
options were exercised at a weighted average exercise price of
$284.04.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
<u>Restricted Stock Units</u></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
The Company made restricted stock unit grants of 10,474 shares to
eligible employees during the twelve week period ended
November 17, 2018 and none in the comparable prior year
period. The fair value of the restricted stock unit grants is the
closing price of the Company’s common stock on the grant date
and the grants vest ratably on an annual basis over a four-year
service period. Restricted stock unit awards 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 grant
forfeiture assumptions.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
The weighted average fair value per restricted stock unit granted
was $772.80. As of November 17, 2018, total
unrecognized stock-based compensation expense related to nonvested
restricted stock unit awards, net of estimated forfeitures, was
approximately $7.0 million, before income taxes, which we
expect to recognize over an estimated weighted average period
of 4.0 years. None of the restricted stock units vested
as of November 17, 2018.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
Total share-based compensation expense (a component of Operating,
selling, general and administrative expenses) was
$10.5 million for the twelve week period ended
November 17, 2018, and $11.1 million for the comparable
prior year period.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
For the twelve week period ended November 17, 2018, 427,407
stock options were excluded from the diluted earnings per share
computation because they would have been anti-dilutive. For the
comparable prior year period, 802,195 anti-dilutive shares were
excluded from the dilutive earnings per share computation.</p>
<p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 10px">
 </p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt">
See AutoZone’s Annual Report on Form <font style="WHITE-SPACE: nowrap">10-K</font> for the year ended
August 25, 2018, 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 2011 Director Compensation Program and the 2014 Director
Compensation Plan.</p>
</div>
Q1
2019
10-Q
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
<b>Note E – Derivative Financial Instruments</b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
At November 17, 2018, the Company had $7.3 million
recorded in Accumulated other comprehensive loss related to
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 twelve week
period ended November 17, 2018 and the comparable prior year
period, the Company reclassified $509 thousand of net losses
from Accumulated other comprehensive loss to Interest expense. The
Company expects to reclassify $2.2 million of net losses from
Accumulated other comprehensive loss to Interest expense over the
next 12 months.</p>
</div>
0.217
13.47
0.21
-7413000
0000866787
AUTOZONE INC
false
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
<b>Note C – Fair Value Measurements</b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
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, <i>Fair Value Measurements and Disclosures</i>, 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:</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 5%; MARGIN-TOP: 6pt">
<b>Level</b><b> 1 inputs</b>—unadjusted quoted prices in
active markets for identical assets or liabilities that the Company
can access at the measurement date.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 5%; MARGIN-TOP: 6pt">
<b>Level</b><b> 2 inputs</b>—inputs other than quoted
market prices included within Level 1 that are observable,
either directly or indirectly, for the asset or liability.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 5%; MARGIN-TOP: 6pt">
<b>Level</b><b> 3 inputs</b>—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.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
<i>Financial Assets & Liabilities Measured at Fair Value
on a Recurring Basis</i></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt">
The Company’s assets and liabilities measured at fair value
on a recurring basis were as follows:</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; MARGIN-TOP: 0pt">
 </p>
<table style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="95%" border="0">
<tr>
<td width="60%"></td>
<td valign="bottom" width="2%"></td>
<td style="WIDTH: 22pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 22pt"></td>
<td valign="bottom" width="2%"></td>
<td style="WIDTH: 22pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 22pt"></td>
<td valign="bottom" width="2%"></td>
<td style="WIDTH: 22pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 22pt"></td>
<td valign="bottom" width="2%"></td>
<td style="WIDTH: 25pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 25pt"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="19" align="center"><b>November 17, 2018</b></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
<i>  (in thousands)</i></td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center">
<b>    Level 1    </b></td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center">
<b>    Level 2    </b></td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center">
<b>    Level 3    </b></td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center">
<b>  Fair Value  </b></td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="13"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
  Other current assets</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">53,889</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">3,308</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">57,197</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
  Other long-term assets</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">57,214</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">14,531</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">71,745</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
    111,103</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">17,839</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">128,942</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="24"></td>
<td height="24" colspan="5"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="19" align="center"><b>August 25, 2018</b></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
<i>  (in thousands)</i></td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center">
<b>    Level 1    </b></td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center">
<b>    Level 2    </b></td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center">
<b>    Level 3    </b></td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center">
<b>  Fair Value  </b></td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="13"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
  Other current assets</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">55,711</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">3,733</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">59,444</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
  Other long-term assets</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">58,973</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">16,259</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">75,232</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
        114,684</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
        19,992</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">
                   –</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
        134,676</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
At November 17, 2018, 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 $57.2 million, which are included within Other
current assets, and long-term marketable debt securities of
$71.7 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 D – Marketable
Debt Securities.”</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
<i><font style="WHITE-SPACE: nowrap">Non-Financial</font> Assets
and Liabilities Measured at Fair Value on a <font style="WHITE-SPACE: nowrap">Non-Recurring</font> Basis</i></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt">
Certain <font style="WHITE-SPACE: nowrap">non-financial</font>
assets and liabilities are required to be measured at fair value on
a <font style="WHITE-SPACE: nowrap">non-recurring</font> basis in
certain circumstances, including in the event of impairment. These
<font style="WHITE-SPACE: nowrap">non-financial</font> 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. As of
November 17, 2018 and August 25, 2018, the Company did
not have any other significant <font style="WHITE-SPACE: nowrap">non-financial</font> assets or liabilities
that had been measured at fair value on a <font style="WHITE-SPACE: nowrap">non-recurring</font> basis subsequent to
initial recognition.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
<i>Financial Instruments not Recognized at Fair Value</i></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt">
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 G –
Financing.”</p>
</div>
2018-11-17
13.71
false
Large Accelerated Filer
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt">
<b>Note J – Goodwill and
Intangibles    </b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
As of November 17, 2018, there were no changes to the carrying
amount of goodwill as described in our Annual Report on Form
<font style="WHITE-SPACE: nowrap">10-K</font> for the year ended
August 25, 2018.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
The carrying amounts of intangible assets are included in Other
long-term assets as follows:</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; MARGIN-TOP: 0pt">
 </p>
<table style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="90%" border="0">
<tr>
<td width="65%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td valign="bottom" width="1%"></td>
<td style="WIDTH: 45pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 45pt"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td valign="bottom" width="1%"></td>
<td style="WIDTH: 56pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 56pt"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td valign="bottom" width="1%"></td>
<td style="WIDTH: 55pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 55pt"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td valign="bottom" width="1%"></td>
<td style="WIDTH: 0pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 0pt"></td>
<td valign="bottom" width="1%"></td>
<td></td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" nowrap="nowrap">
<p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt">
<i>(in thousands)</i></p>
</td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center"><b>Estimated<br />
  Useful Life  </b></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center"><b>Gross<br />
  Carrying  <br />
Amount</b></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center"><b>Accumulated<br />
  Amortization  </b></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="7" align="center"><b>Net</b><br />
<b>    Carrying    <br />
Amount</b></td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="13"></td>
<td height="13" colspan="2"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="2"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="2"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="2"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="2"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Amortizing intangible assets:</p>
</td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Technology</p>
</td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="WHITE-SPACE: nowrap">3-5 years</font></td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">870</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">(870</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Customer relationships</p>
</td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="WHITE-SPACE: nowrap">3-10 years</font></td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">29,376</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(20,549</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">8,827</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
    30,246</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
    (21,419</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">8,827</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="13"></td>
<td height="13" colspan="2"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="2"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="2"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="2"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="2"></td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Total intangible assets other than goodwill</p>
</td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
        8,827</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
Amortization expense of intangible assets for the twelve week
periods ended November 17, 2018 and November 18, 2017 was
$1.0 million and $1.4 million, respectively.</p>
</div>
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
Operating results for the twelve weeks ended November 17, 2018
are not necessarily indicative of the results that may be expected
for the full fiscal year ending August 31, 2019. 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 2019 has 17 weeks and fiscal 2018 had 16
weeks. Additionally, the Company’s business is somewhat
seasonal in nature, with the highest sales generally occurring
during the months of February through September and the lowest
sales generally occurring in the months of December and
January.</p>
</div>
448812000
97406000
1417474000
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
<b>Note N – Income Taxes</b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
The Company’s effective income tax rate on pretax income for
the twelve weeks ended November 17, 2018, was 21.7% compared
to 34.6% for the prior year period. The decrease in the tax rate
was primarily due to the reduction in the Company’s Federal
statutory tax rate from 35% to 21% upon enactment of Tax Reform,
which resulted in a tax benefit of $52.6 million in addition
to $9.0 million excess tax benefits from option exercises
versus the prior year period.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
The Company’s effective tax rate for the twelve weeks ended
November 17, 2018 of 21.7% was slightly higher than the U.S.
statutory federal rate of 21% primarily due to state income taxes
offset by $11.2 million of tax benefits associated with stock
option accounting, compared to $2.2 million in the prior year
period.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt">
The SEC staff issued Staff Accounting Bulletin No. 118
(“SAB 118”) to address the application of GAAP in
situations where a registrant does not have the necessary
information available, prepared, or analyzed (including
computations) in reasonable detail to complete the accounting for
certain income tax effects of Tax Reform. To the extent that a
company’s accounting for certain income tax effects of Tax
Reform is incomplete but it is able to determine a reasonable
estimate, it must record a provisional estimate in the financial
statements. If a company cannot determine a provisional estimate to
be included in the financial statements, it should continue to
apply ASC 740 on the basis of the provisions of the tax laws that
were in effect immediately before the enactment of Tax Reform. The
ultimate impact may differ from provisional amounts recorded,
possibly materially, due to, among other things, additional
analysis, changes in interpretations and assumptions the Company
has made, and additional regulatory guidance that may be issued.
The accounting is expected to be completed within one year from the
enactment date of Tax Reform.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
For the twelve weeks ended November 17, 2018, the Company has
not recorded additional provisional adjustments in the Condensed
Consolidated Financial Statements. During the preceding year ended
August 25, 2018, the Company was able to determine a
reasonable estimate for the mandatory <font style="WHITE-SPACE: nowrap">one-time</font> transition tax as an increase
to tax expense of $25.8 million, and for the <font style="WHITE-SPACE: nowrap">re-measurement</font> of its net U.S. federal
deferred tax liability at the lower rate, a reduction to tax
expense of $157.3 million. Additional provisions from Tax
Reform are effective for FY19 and while immaterial, the
Company’s analysis of these items is incomplete at this time.
The Company will complete the accounting for these items during the
measurement period, which will end during the Company’s
twenty-four week period ending February 9, 2019.</p>
</div>
67762000
63774000
167454000
16338000
-509000
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
<b>Note F – Merchandise Inventories</b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
Merchandise 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
<font style="WHITE-SPACE: nowrap">last-in,</font> <font style="WHITE-SPACE: nowrap">first-out</font> (“LIFO”) method
for domestic inventories and the weighted average cost method for
Mexico and Brazil inventories. Due to price deflation on the
Company’s merchandise purchases, the Company has exhausted
its LIFO reserve balance. The Company’s policy is not to
write up inventory in excess of replacement cost, which is based on
average cost. The difference between LIFO cost and replacement
cost, which will be reduced upon experiencing price inflation on
the Company’s merchandise purchases, was $458.4 million
at November 17, 2018 and $452.4 million at
August 25, 2018.</p>
</div>
-39006000
-47769000
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
<b>Note K – Litigation</b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
In July 2014, the Company 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. The Company received notice that the District
Attorney will seek injunctive and monetary relief. The Company is
cooperating fully with the request and cannot predict the ultimate
outcome of these efforts, although the Company has accrued all
amounts it believes to be probable and reasonably estimable. The
Company does not believe the ultimate resolution of this matter
will have a material adverse effect on its consolidated financial
position, results of operations or cash flows.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
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 its consolidated financial condition,
results of operations or cash flows.</p>
</div>
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
<b>Note D – Marketable Debt Securities</b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 10pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
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 <font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">available-for-sale</font></font> marketable
debt securities consisted of the following:</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
 </p>
<table style="FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
<tr>
<td width="87%"></td>
<td valign="bottom" width="3%"></td>
<td style="WIDTH: 39pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 39pt"></td>
<td valign="bottom" width="3%"></td>
<td style="WIDTH: 72pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 72pt"></td>
<td valign="bottom" width="3%"></td>
<td style="WIDTH: 73pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 73pt"></td>
<td valign="bottom" width="3%"></td>
<td style="WIDTH: 25pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 25pt"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; break-inside: avoid">
<td valign="bottom"> </td>
<td valign="bottom">    </td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="19" align="center"><b>November 17, 2018</b></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; break-inside: avoid">
<td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" nowrap="nowrap">
<p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; MARGIN-TOP: 0pt">
<i>  (in thousands)</i></p>
</td>
<td valign="bottom">    </td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="4" align="center">
<b>    Amortized    <br />
Cost</b><br />
<b>Basis</b></td>
<td valign="bottom">    </td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="4" align="center"><b>Gross<br />
    Unrealized    <br />
Gains</b></td>
<td valign="bottom">    </td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="4" align="center"><b>Gross<br />
    Unrealized    <br />
Losses</b></td>
<td valign="bottom">    </td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="4" align="center">
<b>  Fair Value  </b></td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="13"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; break-inside: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Corporate debt securities</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">46,378</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">(751</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">45,627</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; break-inside: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Government bonds</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">30,376</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">4</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(219</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">30,161</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; break-inside: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Mortgage-backed securities</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">2,902</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(81</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">2,821</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; break-inside: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Asset-backed securities and other</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">50,484</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(151</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">50,333</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; break-inside: avoid" bgcolor="#CCEEFF">
<td valign="top"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">130,140</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">4</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">(1,202</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">128,942</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="32"></td>
<td height="32" colspan="5"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; break-inside: avoid">
<td valign="bottom"> </td>
<td valign="bottom">    </td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="19" align="center"><b>August 25, 2018</b></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; break-inside: avoid">
<td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" nowrap="nowrap">
<p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; MARGIN-TOP: 0pt">
<i>  (in thousands)</i></p>
</td>
<td valign="bottom">    </td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="4" align="center">
<b>    Amortized    <br />
Cost</b><br />
<b>Basis</b></td>
<td valign="bottom">    </td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="4" align="center"><b>Gross<br />
    Unrealized    <br />
Gains</b></td>
<td valign="bottom">    </td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="4" align="center"><b>Gross<br />
    Unrealized    <br />
Losses</b></td>
<td valign="bottom">    </td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="4" align="center">
<b>  Fair Value  </b></td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="13"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; break-inside: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Corporate debt securities</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">50,306</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">(684</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">49,622</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; break-inside: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Government bonds</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">28,777</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(173</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">28,604</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; break-inside: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Mortgage-backed securities</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">3,248</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(90</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">3,158</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; break-inside: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Asset-backed securities and other</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">53,445</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(153</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">53,292</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; break-inside: avoid" bgcolor="#CCEEFF">
<td valign="top"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
      135,776</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">
          –</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
      (1,100</td>
<td valign="bottom" nowrap="nowrap">) </td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
      134,676</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 10pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
The debt securities held at November 17, 2018, 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 the twelve week period ended
November 17, 2018.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 10pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
The Company holds 111 securities that are in an unrealized loss
position of approximately $1.2 million at November 17,
2018. 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 the
intent and ability to hold the investments until maturity or until
recovery of fair value.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 10pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
Included above in total marketable debt securities are
$85.9 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.</p>
</div>
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
<b>Recently Adopted Accounting Pronouncements:</b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
In May 2014, the Financial Accounting Standards Board
(“FASB”) issued Accounting Standards Update
(“ASU”) <font style="WHITE-SPACE: nowrap">2014-09,</font> <i>Revenue from Contracts
with Customers</i> (Topic 606)<i>.</i> This ASU, along with
subsequent ASUs issued to clarify certain provisions of ASU
<font style="WHITE-SPACE: nowrap">2014-09,</font> 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 quarter ended
November 17, 2018 were presented under ASU <font style="WHITE-SPACE: nowrap">2014-09,</font> 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 <font style="WHITE-SPACE: nowrap">2014-09</font> 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 L – Revenue Recognition”.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
In October 2016, the FASB issued ASU <font style="WHITE-SPACE: nowrap">2016-16,</font> <i>Income Taxes (Topic 740):
Intra-Entity Transfers of Assets Other than Inventory</i>. ASU
<font style="WHITE-SPACE: nowrap">2016-16</font> 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 <font style="WHITE-SPACE: nowrap">2016-16</font> did not have an impact on the
Company’s consolidated financial statements.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
On August 17, 2018, the SEC adopted a final rule that
eliminates or amends certain disclosure requirements that were
deemed redundant and outdated in light of changes in SEC
requirements, U.S. GAAP or changes in technology or the business
environment. The rule also requires registrants to include in their
interim financial statements a reconciliation of changes in
stockholders’ equity in the notes or as a separate statement.
The analysis should reconcile the beginning balance to the ending
balance of each caption in shareholders’ equity for each
period for which an income statement is required to be filed. The
final rule became effective November 5, 2018. Beginning in the
first quarter of fiscal 2019, we have provided a reconciliation for
the quarterly period as well as the comparable prior period in this
Form <font style="WHITE-SPACE: nowrap">10-Q.</font> The eliminated
or amended disclosures did not have a material impact on the
Company’s unaudited condensed consolidated financial
statements.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
<b>Recently Issued Accounting Pronouncements:</b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
In February 2016, the FASB issued ASU <font style="WHITE-SPACE: nowrap">2016-02,</font> <i>Leases (Topic 842).</i>
ASU <font style="WHITE-SPACE: nowrap">2016-02</font> requires a
<font style="WHITE-SPACE: nowrap">two-fold</font> 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 <font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">right-of-use</font></font> asset and a
corresponding lease liability on its balance sheet, with differing
methodology for income statement recognition. This guidance also
requires certain quantitative and qualitative disclosures about
leasing arrangements. The amendment will be effective for the
Company at the beginning of its fiscal 2020 year, and early
adoption is permitted. As originally issued, this guidance required
a modified retrospective approach for all leases existing or
entered into after the beginning of the earliest comparative period
in the consolidated financial statements. In July 2018, the FASB
issued additional guidance, which allows companies to record the
cumulative effect of applying the new standard as an adjustment to
the opening balance of retained earnings in the year of adoption,
which the Company intends to apply, as an alternative to the
modified retrospective approach. The Company intends to elect
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.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt">
The Company established a cross-functional implementation team to
evaluate and identify the impact of ASU <font style="WHITE-SPACE: nowrap">2016-02</font> on the Company’s
financial position, results of operations and cash flows. Based on
the preliminary work completed, the Company has concluded its
assessment on its leasing arrangements, evaluated the impact of
applying the practical expedients and accounting policy elections
and is working on implementing software to meet the reporting
requirements of this standard. The Company is currently in the
process of identifying changes to its business processes and
controls to support the adoption of the new standard. The team is
continuing to understand the full analysis of the adoption, but is
unable to quantify the impact at this time. The Company anticipates
the adoption of this new standard to result in a significant
increase in lease-related assets and liabilities on the
Company’s consolidated balance sheets. The impact on the
Company’s Consolidated Statements of Income is currently
being evaluated. As the impact of this standard is <font style="WHITE-SPACE: nowrap">non-cash</font> in nature, the Company does
not anticipate its adoption to have an impact on the
Company’s Consolidated Statement of Cash Flows.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
In June 2018, the FASB issued ASU <font style="WHITE-SPACE: nowrap">2018-07,</font> <i>Compensation – Stock
Compensation (Topic 718): Improvements to Nonemployee Share-Based
Payment Accounting</i>. ASU <font style="WHITE-SPACE: nowrap">2018-07</font> 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 does not expect the provisions of ASU
<font style="WHITE-SPACE: nowrap">2018-07</font> to have a material
impact on its consolidated financial statements.</p>
</div>
-91899000
-315608000
449182000
351406000
-40261000
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
<b>Note A – General</b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
The accompanying unaudited condensed consolidated financial
statements have been prepared in accordance with United States
generally accepted accounting principles (“U.S. GAAP”)
for interim financial information and are presented in accordance
with the requirements of Form <font style="WHITE-SPACE: nowrap">10-Q</font> and Article 10 of Regulation
<font style="WHITE-SPACE: nowrap">S-X</font> 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 <font style="WHITE-SPACE: nowrap">10-K</font> for the year
ended August 25, 2018.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
Operating results for the twelve weeks ended November 17, 2018
are not necessarily indicative of the results that may be expected
for the full fiscal year ending August 31, 2019. 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 2019 has 17 weeks and fiscal 2018 had 16
weeks. Additionally, the Company’s business is somewhat
seasonal in nature, with the highest sales generally occurring
during the months of February through September and the lowest
sales generally occurring in the months of December and
January.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
<b>Recently Adopted Accounting Pronouncements:</b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
In May 2014, the Financial Accounting Standards Board
(“FASB”) issued Accounting Standards Update
(“ASU”) <font style="WHITE-SPACE: nowrap">2014-09,</font> <i>Revenue from Contracts
with Customers</i> (Topic 606)<i>.</i> This ASU, along with
subsequent ASUs issued to clarify certain provisions of ASU
<font style="WHITE-SPACE: nowrap">2014-09,</font> 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 quarter ended
November 17, 2018 were presented under ASU <font style="WHITE-SPACE: nowrap">2014-09,</font> 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 <font style="WHITE-SPACE: nowrap">2014-09</font> 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 L – Revenue Recognition”.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
In October 2016, the FASB issued ASU <font style="WHITE-SPACE: nowrap">2016-16,</font> <i>Income Taxes (Topic 740):
Intra-Entity Transfers of Assets Other than Inventory</i>. ASU
<font style="WHITE-SPACE: nowrap">2016-16</font> 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 <font style="WHITE-SPACE: nowrap">2016-16</font> did not have an impact on the
Company’s consolidated financial statements.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
On August 17, 2018, the SEC adopted a final rule that
eliminates or amends certain disclosure requirements that were
deemed redundant and outdated in light of changes in SEC
requirements, U.S. GAAP or changes in technology or the business
environment. The rule also requires registrants to include in their
interim financial statements a reconciliation of changes in
stockholders’ equity in the notes or as a separate statement.
The analysis should reconcile the beginning balance to the ending
balance of each caption in shareholders’ equity for each
period for which an income statement is required to be filed. The
final rule became effective November 5, 2018. Beginning in the
first quarter of fiscal 2019, we have provided a reconciliation for
the quarterly period as well as the comparable prior period in this
Form <font style="WHITE-SPACE: nowrap">10-Q.</font> The eliminated
or amended disclosures did not have a material impact on the
Company’s unaudited condensed consolidated financial
statements.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
<b>Recently Issued Accounting Pronouncements:</b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
In February 2016, the FASB issued ASU <font style="WHITE-SPACE: nowrap">2016-02,</font> <i>Leases (Topic 842).</i>
ASU <font style="WHITE-SPACE: nowrap">2016-02</font> requires a
<font style="WHITE-SPACE: nowrap">two-fold</font> 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 <font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">right-of-use</font></font> asset and a
corresponding lease liability on its balance sheet, with differing
methodology for income statement recognition. This guidance also
requires certain quantitative and qualitative disclosures about
leasing arrangements. The amendment will be effective for the
Company at the beginning of its fiscal 2020 year, and early
adoption is permitted. As originally issued, this guidance required
a modified retrospective approach for all leases existing or
entered into after the beginning of the earliest comparative period
in the consolidated financial statements. In July 2018, the FASB
issued additional guidance, which allows companies to record the
cumulative effect of applying the new standard as an adjustment to
the opening balance of retained earnings in the year of adoption,
which the Company intends to apply, as an alternative to the
modified retrospective approach. The Company intends to elect
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.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt">
The Company established a cross-functional implementation team to
evaluate and identify the impact of ASU <font style="WHITE-SPACE: nowrap">2016-02</font> on the Company’s
financial position, results of operations and cash flows. Based on
the preliminary work completed, the Company has concluded its
assessment on its leasing arrangements, evaluated the impact of
applying the practical expedients and accounting policy elections
and is working on implementing software to meet the reporting
requirements of this standard. The Company is currently in the
process of identifying changes to its business processes and
controls to support the adoption of the new standard. The team is
continuing to understand the full analysis of the adoption, but is
unable to quantify the impact at this time. The Company anticipates
the adoption of this new standard to result in a significant
increase in lease-related assets and liabilities on the
Company’s consolidated balance sheets. The impact on the
Company’s Consolidated Statements of Income is currently
being evaluated. As the impact of this standard is <font style="WHITE-SPACE: nowrap">non-cash</font> in nature, the Company does
not anticipate its adoption to have an impact on the
Company’s Consolidated Statement of Cash Flows.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
In June 2018, the FASB issued ASU <font style="WHITE-SPACE: nowrap">2018-07,</font> <i>Compensation – Stock
Compensation (Topic 718): Improvements to Nonemployee Share-Based
Payment Accounting</i>. ASU <font style="WHITE-SPACE: nowrap">2018-07</font> 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 does not expect the provisions of ASU
<font style="WHITE-SPACE: nowrap">2018-07</font> to have a material
impact on its consolidated financial statements.</p>
</div>
-77000
-40573000
1
389000
-120000
487818000
-20000
497060000
98168000
7480000
44671000
149378000
13116000
351406000
12597000
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
Changes in Accumulated other comprehensive loss for the twelve week
periods ended November 17, 2018 and November 18, 2017
consisted of the following:</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; MARGIN-TOP: 0pt">
 </p>
<table style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
<tr>
<td width="37%"></td>
<td valign="bottom" width="7%"></td>
<td style="WIDTH: 24pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 24pt"></td>
<td valign="bottom" width="6%"></td>
<td style="WIDTH: 71pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 71pt"></td>
<td valign="bottom" width="7%"></td>
<td style="WIDTH: 89pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 89pt"></td>
<td valign="bottom" width="6%"></td>
<td style="WIDTH: 26pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 26pt"></td>
<td valign="bottom" width="6%"></td>
<td style="WIDTH: 10pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 10pt"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" nowrap="nowrap">
<p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt">
<i>  (in thousands)</i></p>
</td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" nowrap="nowrap" align="center"><b>Pension</b><br />
<b>  Liability<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(6)</sup>  </b></td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" nowrap="nowrap" align="center"><b>Foreign<br />
Currency and<br />
Other<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(3)</sup></b></td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center"><b>Net<br />
Unrealized<br />
Gain (Loss)<br />
  on Securities  </b></td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center">
<b>  Derivatives  </b></td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center"><b>Total</b></td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="13"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Balance at August 25, 2018</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">(228,899</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">(873</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">(6,033</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">(235,805</td>
<td valign="bottom" nowrap="nowrap">)</td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Other comprehensive loss before reclassifications<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(40,573</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(77</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(40,650</td>
<td valign="bottom" nowrap="nowrap">)</td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Amounts reclassified from Accumulated other comprehensive
loss<b><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(</sup></b><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">1</sup><b><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">)</sup></b></p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">389</td>
<td valign="bottom" nowrap="nowrap"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(5)</sup> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">389</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Balance at November 17, 2018</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">
            –</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
    (269,472</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
        (950</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
    (5,644</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
    (276,066</td>
<td valign="bottom" nowrap="nowrap">)</td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="13"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" nowrap="nowrap">
<p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt">
<i>  (in thousands)</i></p>
</td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center"><b>Pension</b><br />
<b>Liability</b></td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center"><b>Foreign<br />
Currency and<br />
Other<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(3)</sup></b></td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center"><b>Net</b><br />
<b>Unrealized<br />
Gain (Loss)<br />
on Securities</b></td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center"><b>Derivatives</b></td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center"><b>Total</b></td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="13"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Balance at August 26, 2017</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">(72,376</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">(175,814</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">(11</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">(6,356</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">(254,557</td>
<td valign="bottom" nowrap="nowrap">)  </td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Other comprehensive loss before reclassifications<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
–  </td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(43,217</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(314</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
–  </td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(43,531</td>
<td valign="bottom" nowrap="nowrap">)</td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Amounts reclassified from Accumulated other comprehensive
loss<b><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(</sup></b><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">1</sup><b><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">)</sup></b></p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">1,316</td>
<td valign="bottom" nowrap="nowrap"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(2</td>
<td valign="bottom" nowrap="nowrap">)<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4)</sup></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">323</td>
<td valign="bottom" nowrap="nowrap"><sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(5)</sup> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">1,637</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Balance at November 18, 2017</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">  (71,060</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">  (219,031</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
        (327</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
      (6,033</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
    (296,451</td>
<td valign="bottom" nowrap="nowrap">)</td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 16pt; MARGIN-TOP: 0pt">
 </p>
<table style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
<tr style="PAGE-BREAK-INSIDE: avoid">
<td valign="top" width="3%" align="left"><i>(1)</i></td>
<td valign="top" align="left">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="left"><i>Amounts in parentheses indicate debits to
Accumulated other comprehensive loss.</i></p>
</td>
</tr>
</table>
<table style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
<tr style="PAGE-BREAK-INSIDE: avoid">
<td valign="top" width="3%" align="left"><i>(2)</i></td>
<td valign="top" align="left">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="left"><i>Represents amortization of pension liability
adjustments, net of taxes of $1,161 in fiscal 2018, which is
recorded in Operating, selling, general and administrative expenses
on the Condensed Consolidated Statements of Income.</i></p>
</td>
</tr>
</table>
<table style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
<tr style="PAGE-BREAK-INSIDE: avoid">
<td valign="top" width="3%" align="left"><i>(3)</i></td>
<td valign="top" align="left">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="left"><i>Foreign currency is shown net of U.S. tax to
account for foreign currency impacts of certain undistributed
<font style="WHITE-SPACE: nowrap">non-U.S.</font> subsidiaries
earnings. Other foreign currency is not shown net of additional
U.S. tax as other basis differences of <font style="WHITE-SPACE: nowrap">non-U.S.</font> subsidiaries are intended to
be permanently reinvested.</i></p>
</td>
</tr>
</table>
<table style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
<tr style="PAGE-BREAK-INSIDE: avoid">
<td valign="top" width="3%" align="left"><i>(4)</i></td>
<td valign="top" align="left">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="left"><i>Represents realized losses on marketable debt
securities, net of taxes of $1 in fiscal 2018, which is recorded in
Operating, selling, general and administrative expenses on the
Condensed Consolidated Statements of Income. See “Note D
– Marketable Debt Securities” for further
discussion.</i></p>
</td>
</tr>
</table>
<table style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
<tr style="PAGE-BREAK-INSIDE: avoid">
<td valign="top" width="3%" align="left"><i>(5)</i></td>
<td valign="top" align="left">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="left"><i>Represents losses on derivatives, net of taxes of
$120 in fiscal 2019 and $186 in fiscal 2018, which is recorded in
Interest expense, net, on the Condensed Consolidated Statements of
Income. See “Note E – Derivative Financial
Instruments” for further discussion.</i></p>
</td>
</tr>
</table>
<table style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
<tr style="PAGE-BREAK-INSIDE: avoid">
<td valign="top" width="3%" align="left"><i>(6)</i></td>
<td valign="top" align="left">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="left"><i>On December 19, 2017, the Board of Directors
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 pension benefit
obligation.</i></p>
</td>
</tr>
</table>
</div>
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
The Company’s long-term debt consisted of the following:</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; MARGIN-TOP: 0pt">
 </p>
<table style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="92%" border="0">
<tr>
<td width="72%"></td>
<td valign="bottom" width="6%"></td>
<td style="WIDTH: 35pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 35pt"></td>
<td valign="bottom" width="6%"></td>
<td style="WIDTH: 44pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 44pt"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" nowrap="nowrap">
<p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt">
<i>(in thousands)</i></p>
</td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center">
<b>    November 17,    </b><br />
<b>2018</b></td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center">
<b>      August 25,      <br />
2018</b></td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="13"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
  1.625% Senior Notes due April 2019, effective interest
rate of 1.77%</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">250,000</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">250,000</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
  4.000% Senior Notes due November 2020, effective
interest rate of 4.43%</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">500,000</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">500,000</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
  2.500% Senior Notes due April 2021, effective interest
rate of 2.62%</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">250,000</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">250,000</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
  3.700% Senior Notes due April 2022, effective interest
rate of 3.85%</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">500,000</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">500,000</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
  2.875% Senior Notes due January 2023, effective
interest rate of 3.21%</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">300,000</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">300,000</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
  3.125% Senior Notes due July 2023, effective interest
rate of 3.26%</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">500,000</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">500,000</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
  3.250% Senior Notes due April 2025, effective interest
rate 3.36%</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">400,000</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">400,000</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
  3.125% Senior Notes due April 2026, effective interest
rate of 3.28%</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">400,000</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">400,000</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
  3.750% Senior Notes due June 2027, effective interest
rate of 3.83%</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">600,000</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">600,000</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Commercial paper, weighted average interest rate of 2.55% and 2.29%
at November 17, 2018 and August 25, 2018,
respectively</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">1,474,678</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">1,325,300</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
  Total debt before discounts and debt issuance costs</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">5,174,678</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">5,025,300</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Less: Discounts and debt issuance costs</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">18,641</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">19,370</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
  Long-term debt</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
    5,156,037</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
    5,005,930</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
</table>
</div>
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt">
The Company’s assets and liabilities measured at fair value
on a recurring basis were as follows:</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; MARGIN-TOP: 0pt">
 </p>
<table style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="95%" border="0">
<tr>
<td width="60%"></td>
<td valign="bottom" width="2%"></td>
<td style="WIDTH: 22pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 22pt"></td>
<td valign="bottom" width="2%"></td>
<td style="WIDTH: 22pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 22pt"></td>
<td valign="bottom" width="2%"></td>
<td style="WIDTH: 22pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 22pt"></td>
<td valign="bottom" width="2%"></td>
<td style="WIDTH: 25pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 25pt"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="19" align="center"><b>November 17, 2018</b></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
<i>  (in thousands)</i></td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center">
<b>    Level 1    </b></td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center">
<b>    Level 2    </b></td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center">
<b>    Level 3    </b></td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center">
<b>  Fair Value  </b></td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="13"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
  Other current assets</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">53,889</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">3,308</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">57,197</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
  Other long-term assets</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">57,214</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">14,531</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">71,745</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
    111,103</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">17,839</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">128,942</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="24"></td>
<td height="24" colspan="5"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="19" align="center"><b>August 25, 2018</b></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom">
<i>  (in thousands)</i></td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center">
<b>    Level 1    </b></td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center">
<b>    Level 2    </b></td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center">
<b>    Level 3    </b></td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center">
<b>  Fair Value  </b></td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="13"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
  Other current assets</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">55,711</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">3,733</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">59,444</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
  Other long-term assets</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">58,973</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">16,259</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">75,232</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
        114,684</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
        19,992</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">
                   –</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
        134,676</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
</table>
</div>
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
<b>Note L – Revenue Recognition</b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
The Company adopted ASU <font style="WHITE-SPACE: nowrap">2014-09,</font> <i>Revenue from Contracts
with Customers</i> using the modified retrospective method
beginning with our first quarter ending November 17, 2018. The
cumulative effect of initially applying ASU <font style="WHITE-SPACE: nowrap">2014-09</font> 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.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
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.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
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
<font style="WHITE-SPACE: nowrap">E-commerce</font> orders when the
product is shipped. Revenue from commercial customers is recognized
upon delivery, typically <font style="WHITE-SPACE: nowrap">same-day.</font> Payment from retail
customers is at the point of sale and payment terms for commercial
customers are based on the Company’s <font style="WHITE-SPACE: nowrap">pre-established</font> 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.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt">
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 for merchandise sold under warranty not
covered by vendors are estimated and recorded at the time of sale
based on the historical return rate for each individual product
line. Differences between vendor allowances received, in lieu of
warranty obligations and estimated warranty expense for the
vendor’s products, are recorded as an adjustment to cost of
sales.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
There were no material contract assets, contract liabilities or
deferred contract costs recorded on the Condensed Consolidated
Balance Sheet as of November 17, 2018. Revenue related to
unfulfilled performance obligations as of November 17, 2018 is
not significant. Refer to “Note M – Segment
Reporting” in the Condensed Consolidated Financial Statements
for additional information related to revenue recognized during the
period.</p>
</div>
2641733000
10500000
P5Y7M6D
359.94
929656000
0.00
0.031
208.31
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
<b>Note M – Segment Reporting</b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
The Company’s operating segments (Domestic Auto Parts, Mexico
and Brazil; and IMC 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 in its Annual Report on Form
<font style="WHITE-SPACE: nowrap">10-K</font> for the year ended
August 25, 2018.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
The Auto Parts Locations segment is a retailer and distributor of
automotive parts and accessories through the Company’s 6,218
stores in the United States, Puerto Rico, 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
<font style="WHITE-SPACE: nowrap">non-automotive</font>
products.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
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; sales
through www.autozone.com that are not fulfilled by an AutoZone
store; and AutoAnything, which includes direct sales to customers
through www.autoanything.com, prior to the Company’s sale of
substantially all of AutoAnything’s assets on
February 26, 2018.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
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:</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; MARGIN-TOP: 0pt">
 </p>
<table style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
<tr>
<td width="70%"></td>
<td valign="bottom" width="7%"></td>
<td style="WIDTH: 41pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 41pt"></td>
<td valign="bottom" width="7%"></td>
<td style="WIDTH: 45pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 45pt"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="bottom"> </td>
<td valign="bottom">    </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="9" align="center"><b>Twelve Weeks Ended</b></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" nowrap="nowrap"><i>  (in thousands)</i></td>
<td valign="bottom">    </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center">
<b>    November 17,<br />
2018</b></td>
<td valign="bottom">  </td>
<td valign="bottom" colspan="4" align="center">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; BORDER-BOTTOM: #000000 1pt solid; MARGIN-TOP: 0pt; DISPLAY: table-cell" align="center">
<b>    November 18,    <br />
2017</b></p>
</td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="13"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
<b>Net Sales</b></p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 2.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Auto Parts Locations</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
    2,593,440</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
    2,510,128</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 2.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Other</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">48,293</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">79,003</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 2.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Total</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">2,641,733</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">2,589,131</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="13"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
<b>Segment Profit</b></p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 2.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Auto Parts Locations</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">1,383,564</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">1,322,444</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 2.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Other</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">33,910</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">43,404</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 2.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Gross profit</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">1,417,474</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">1,365,848</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 2.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Operating, selling, general and administrative expenses</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(929,656</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(897,094</td>
<td valign="bottom" nowrap="nowrap">)</td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 2.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Interest expense, net</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(39,006</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(38,889</td>
<td valign="bottom" nowrap="nowrap">)</td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 2.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Income before income taxes</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">448,812</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">429,865</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
</table>
</div>
0.21
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
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:</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; MARGIN-TOP: 0pt">
 </p>
<table style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
<tr>
<td width="70%"></td>
<td valign="bottom" width="7%"></td>
<td style="WIDTH: 41pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 41pt"></td>
<td valign="bottom" width="7%"></td>
<td style="WIDTH: 45pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 45pt"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="bottom"> </td>
<td valign="bottom">    </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="9" align="center"><b>Twelve Weeks Ended</b></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" nowrap="nowrap"><i>  (in thousands)</i></td>
<td valign="bottom">    </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center">
<b>    November 17,<br />
2018</b></td>
<td valign="bottom">  </td>
<td valign="bottom" colspan="4" align="center">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; BORDER-BOTTOM: #000000 1pt solid; MARGIN-TOP: 0pt; DISPLAY: table-cell" align="center">
<b>    November 18,    <br />
2017</b></p>
</td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="13"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
<b>Net Sales</b></p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 2.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Auto Parts Locations</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
    2,593,440</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
    2,510,128</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 2.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Other</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">48,293</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">79,003</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 2.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Total</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">2,641,733</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">2,589,131</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="13"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="5"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
<b>Segment Profit</b></p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 2.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Auto Parts Locations</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">1,383,564</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">1,322,444</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 2.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Other</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">33,910</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">43,404</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 2.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Gross profit</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">1,417,474</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">1,365,848</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 2.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Operating, selling, general and administrative expenses</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(929,656</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(897,094</td>
<td valign="bottom" nowrap="nowrap">)</td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 2.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Interest expense, net</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(39,006</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(38,889</td>
<td valign="bottom" nowrap="nowrap">)</td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 2.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Income before income taxes</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">448,812</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">429,865</td>
<td valign="bottom" nowrap="nowrap"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
</tr>
</table>
</div>
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt">
The weighted average fair value of the stock option awards granted
during the twelve week periods ended November 17, 2018 and
November 18, 2017, using the Black-Scholes-Merton
multiple-option pricing valuation model, was $208.31 and $128.93
per share, respectively, using the following weighted average key
assumptions:</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; MARGIN-TOP: 0pt">
 </p>
<table style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="96%" border="0">
<tr>
<td width="96%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="bottom"> </td>
<td valign="bottom">    </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="6" align="center"><b>    Twelve Weeks
Ended    </b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-BOTTOM: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">    </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center">
<b>    November 17,    </b><br />
<b>    2018    </b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center">
<b>November 18,      </b><br />
<b>2017      </b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="13"></td>
<td height="13" colspan="4"></td>
<td height="13" colspan="4"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Expected price volatility</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">21%    </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">20%    </td>
<td valign="bottom" nowrap="nowrap"> </td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Risk-free interest rate</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">3.1%    </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">1.9%    </td>
<td valign="bottom" nowrap="nowrap"> </td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Weighted average expected lives (in years)</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">5.6    </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">5.1    </td>
<td valign="bottom" nowrap="nowrap"> </td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Forfeiture rate</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">10%    </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">10%    </td>
<td valign="bottom" nowrap="nowrap"> </td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1.5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Dividend yield</p>
</td>
<td valign="bottom">    </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">0%    </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">0%    </td>
<td valign="bottom" nowrap="nowrap"> </td>
</tr>
</table>
</div>
AZO
171293
129559
44926000
26097000
25629000
654000
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
<b>Note H – Stock Repurchase Program</b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 10pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
From January 1, 1998 to November 17, 2018, the Company
has repurchased a total of 145.3 million shares of its common
stock at an aggregate cost of $19.915 billion, including
654,070 shares of its common stock at an aggregate cost of
$497.1 million during the twelve week period ended
November 17, 2018. On September 26, 2018, the Board voted
to increase the authorization by $1.25 billion. This raised
the total value of shares authorized to be repurchased to
$20.9 billion. Considering the cumulative repurchases as of
November 17, 2018, the Company had $984.6 million
remaining under the Board’s authorization to repurchase its
common stock.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: "Times New Roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 10pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">
Subsequent to November 17, 2018, the Company has repurchased
97,113 shares of its common stock at an aggregate cost of $79.8
million.</p>
</div>
497060000
468000
-52600000
-633000
Less than one year to approximately three years
Operating results for the twelve weeks ended November 17, 2018 are not necessarily indicative of the results that may be expected for the full fiscal year ending August 31, 2019. 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 2019 has 17 weeks and fiscal 2018 had 16 weeks. Additionally, the Company’s business is somewhat seasonal in nature, with the highest sales generally occurring during the months of February through September and the lowest sales generally occurring in the months of December and January.
6218
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt">
The carrying amounts of intangible assets are included in Other
long-term assets as follows:</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; MARGIN-TOP: 0pt">
 </p>
<table style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="90%" border="0">
<tr>
<td width="65%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td valign="bottom" width="1%"></td>
<td style="WIDTH: 45pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 45pt"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td valign="bottom" width="1%"></td>
<td style="WIDTH: 56pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 56pt"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td valign="bottom" width="1%"></td>
<td style="WIDTH: 55pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 55pt"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td valign="bottom" width="1%"></td>
<td style="WIDTH: 0pt"></td>
<td></td>
<td></td>
<td style="WIDTH: 0pt"></td>
<td valign="bottom" width="1%"></td>
<td></td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" nowrap="nowrap">
<p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt">
<i>(in thousands)</i></p>
</td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center"><b>Estimated<br />
  Useful Life  </b></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center"><b>Gross<br />
  Carrying  <br />
Amount</b></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="4" align="center"><b>Accumulated<br />
  Amortization  </b></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="7" align="center"><b>Net</b><br />
<b>    Carrying    <br />
Amount</b></td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="13"></td>
<td height="13" colspan="2"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="2"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="2"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="2"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="2"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Amortizing intangible assets:</p>
</td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Technology</p>
</td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="WHITE-SPACE: nowrap">3-5 years</font></td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">870</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">(870</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">–</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Customer relationships</p>
</td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="WHITE-SPACE: nowrap">3-10 years</font></td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">29,376</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(20,549</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">8,827</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid">
<td valign="top"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
    30,246</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
    (21,419</td>
<td valign="bottom" nowrap="nowrap">)</td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">8,827</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="13"></td>
<td height="13" colspan="2"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="2"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="2"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="2"></td>
<td height="13" colspan="5"></td>
<td height="13" colspan="2"></td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em">
Total intangible assets other than goodwill</p>
</td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">
        8,827</td>
<td valign="bottom" nowrap="nowrap"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td valign="bottom">
<p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt">
 </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
</tr>
</table>
</div>
0.10
-11200000
9000000
427407
P4Y
772.80
10474
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.
P1Y
2022-11-18
2027-06
2026-04
2021-04
2023-07
2022-04
2019-04
2020-11
2023-01
2025-04
P10Y
P3Y
P5Y
P3Y
1000
120000
-77000
-40573000
9501000
44924000
-389000
-40261000
-40650000
-389000
128000
2000
351406000
497060000
33910000
48293000
1383564000
2593440000
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Pension liability adjustments are presented net of taxes of $1,161 in fiscal 2018.
Net derivative activities are presented net of taxes of $120 in fiscal 2019 and $186 in fiscal 2018.
Unrealized gains on marketable debt securities are presented net of taxes of $20 in fiscal 2019 and $170 in fiscal 2018.