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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
May 28, 2016
May 30, 2015
Operating activities:    
Net income $ 32,350 $ 29,493
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 4,243 3,284
LIFO expense 1,280 1,041
Asset impairment 0 462
Stock-based compensation 1,818 1,739
Deferred income taxes 2,717 2,793
Postretirement benefit income and deferred compensation expense (3,053) (587)
Provision for doubtful accounts 37 0
Loss (gain) on disposal of property 10 (20)
Gain on life insurance (118) 0
Increase in cash surrender value of life insurance policies (609) (657)
Change in assets and liabilities:    
Inventories (19,251) (10,768)
Receivables, prepaid and other assets 1,905 3,581
Investment in operating leases, net of repurchase obligations 0 (72)
Income taxes and unrecognized tax benefits (766) (2,375)
Accounts payable and accrued expenses 14,345 (6,308)
Postretirement and deferred compensation benefits (3,167) (3,049)
Net cash provided by operating activities 31,741 18,557
Investing activities:    
Purchases of property and equipment (19,928) (14,174)
Proceeds from the sale of property 21 43
Proceeds from life insurance 295 0
Other 76 435
Net cash used in investing activities (19,536) (13,696)
Financing activities:    
Payments for purchases of common stock (3,058) (6,166)
Payments of cash dividends (8,173) (7,324)
Borrowings on loans 0 22,000
Repayments of loans 0 22,000
Other 40 40
Net cash used in financing activities (11,191) (13,450)
Net increase (decrease) in cash and cash equivalents 1,014 (8,589)
Cash and cash equivalents at beginning of period 70,239 57,804
Cash and cash equivalents at end of period 71,253 49,215
Supplemental cash flow disclosure:    
Income taxes paid, net 13,137 12,361
Interest paid 0 10
Non-cash transactions:    
Capital expenditures in accounts payable $ 397 $ 0