Business Combination (Tables)

12 Months Ended

Aug. 25, 2018

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

On November 8, 2016, we acquired 100% of the ownership interests of Grand Design RV, LLC ("Grand Design") in accordance with the Securities Purchase Agreement for an aggregate purchase price of $520.5 million, which was paid in cash and Winnebago shares as follows:



(In thousands, except shares)	November 8, 2016
Cash	$	396,442
Winnebago shares: 4,586,555 at $27.05 per share	124,066
Total	$	520,508

Business Acquisition, Purchase Price Allocation [Table Text Block]

The final allocation of the purchase price to assets acquired and liabilities assumed is as follows:



(In thousands)	November 8, 2016
Cash	$	1,748
Accounts receivable	32,834
Inventories	15,300
Prepaid expenses and other assets	3,037
Property, plant, and equipment	8,998
Goodwill	243,456
Other intangible assets	253,100
Total assets acquired	558,473

Accounts payable	11,163
Accrued compensation	3,615
Product warranties	12,904
Promotional	3,976
Other	1,496
Deferred tax liabilities	4,811
Total liabilities assumed	37,965

Total purchase price	$	520,508

Business Acquisition, Results included in Consolidation [Table Text Block]

The following table provides net revenues and operating income (which includes amortization expense and our allocation changes described in Note 3, Business Segments) from the Grand Design business included in our consolidated results during the fiscal years ended August 25, 2018 and August 26, 2017 following the November 8, 2016 closing date:



	Year Ended
(In thousands)	August 25, 2018		August 26, 2017
Net revenues	$	969,362	$	559,664
Operating income	129,123		54,188

Business Acquisition, Pro Forma Information [Table Text Block]

on. Unaudited pro forma information is as follows:



	Year Ended
(In thousands, except per share data)	August 25, 2018		August 26, 2017⁽¹⁾		August 27, 2016
Net revenues	$	2,016,829	$	1,642,786	$	1,402,897
Net income	102,465		91,163		48,357
Income per share - basic	3.24		2.89		1.53
Income per share - diluted	3.22		2.88		1.53


(1)	Net income and income per share include the increased benefit of $16.3 million, net of tax, associated with the termination of the postretirement health care plan in Fiscal 2017.

Business Acquisition, Pro Forma Information, Nonrecurring Adjustments [Table Text Block]

The unaudited pro forma data above includes the following significant non-recurring adjustments made to account for certain costs which would have changed if the acquisition of Grand Design had been completed on August 30, 2015:



	Year Ended
(In thousands)	August 25, 2018			August 26, 2017			August 27, 2016
Amortization of intangibles (1 year or less useful life)⁽¹⁾	$	(122	)	$	(18,751	)	$	18,871
Increase in amortization of intangibles⁽¹⁾	—			1,551			7,733
Expenses related to business combination (transaction costs)⁽²⁾	(50		)	(6,649		)	6,649
Interest to reflect new debt structure⁽³⁾	—			3,672			19,622
Taxes related to the adjustments to the pro forma data and to the income of Grand Design	64			11,648			1,680


(1)	Refer to Note 7, Goodwill and Intangible Assets, for additional information on the intangible assets recorded as a result of the acquisition.


(2)	Pro forma transaction costs include $0.1 million incurred by Grand Design prior to the acquisition.


(3)	Refer to Note 9, Long-Term Debt, for additional information on the new debt structure as a result of the acquisition.