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Consolidated Statements of Cash Flows
$ in Thousands
9 Months Ended
May 27, 2017
USD ($)
May 28, 2016
USD ($)
Operating activities:    
Net income $ 46,407 $ 32,350
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 5,287 4,243
Amortization of intangible assets 22,578 0
Amortization of debt issuance costs 889 0
LIFO expense 897 1,280
Stock-based compensation 2,206 1,818
Deferred income taxes 6,396 2,717
Postretirement benefit income and deferred compensation expense (23,687) (3,053)
Other (946) (680)
Change in assets and liabilities:    
Inventories (7,497) (19,251)
Receivables, prepaid and other assets (21,336) 1,905
Income taxes and unrecognized tax benefits 5,806 (766)
Accounts payable and accrued expenses 32,778 14,345
Postretirement and deferred compensation benefits (2,428) (3,167)
Net cash provided by operating activities 67,350 31,741
Investing activities:    
Purchases of property and equipment (9,740) (19,928)
Proceeds from the sale of property 219 21
Acquisition of business, net of cash acquired 394,694 0
Other 684 371
Net cash used in investing activities (403,531) (19,536)
Financing activities:    
Payments for repurchases of common stock (1,367) (3,058)
Payments of cash dividends (9,554) (8,173)
Payments of debt issuance costs (11,020) 0
Borrowings on credit facility 366,400 0
Repayments of credit facility 69,400 0
Other (92) 40
Net cash provided by (used in) financing activities 274,967 (11,191)
Net (decrease) increase in cash and cash equivalents (61,214) 1,014
Cash and cash equivalents at beginning of period 85,583 70,239
Cash and cash equivalents at end of period 24,369 71,253
Supplemental cash flow disclosure:    
Income taxes paid, net 11,811 13,137
Interest paid 7,288 0
Non-cash transactions:    
Issuance of Winnebago common stock for acquisition of business 124,066 0
Capital expenditures in accounts payable 279 $ 397
Accrued dividend $ 3,184