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Business Combinations (Tables)
 9 Months Ended
May 30, 2020
Business Combinations [Abstract]  
Schedule of Business Acquisitions, by Acquisition
The following table summarizes the total consideration paid for Newmar, noting that it is subject to purchase price adjustments as stipulated in the Purchase Agreement:

(in thousands)November 8, 2019
Cash$264,433  
Winnebago Industries shares: 2,000,000 at $46.29
92,572  
Total$357,005  
Schedule of Preliminary Fair Values Assigned The following table summarizes the fair values assigned to the Newmar net assets acquired and the determination of net assets:
(in thousands)November 8, 2019
Cash$3,469  
Accounts receivable37,147  
Inventories82,621  
Prepaid expenses and other assets9,830  
Property, plant, and equipment31,143  
Goodwill73,127  
Other intangible assets172,100  
Total assets acquired409,437  
Accounts payable14,023  
Accrued compensation4,306  
Product warranties15,147  
Promotional6,351  
Other11,637  
Deferred tax liabilities968  
Total liabilities assumed52,432  
Total purchase price$357,005  
Schedule of Finite-Lived Intangible Assets
The following table summarizes the other intangible assets acquired:
($ in thousands)November 8, 2019Useful Life-Years
Trade name$98,000  Indefinite
Dealer network64,000  12.0
Backlog8,800  0.5
Non-compete agreements1,300  5.0
Schedule of Indefinite-lived Intangible Assets
The following table summarizes the other intangible assets acquired:
($ in thousands)November 8, 2019Useful Life-Years
Trade name$98,000  Indefinite
Dealer network64,000  12.0
Backlog8,800  0.5
Non-compete agreements1,300  5.0
Schedule of Pro Forma Information The following table provides net revenues and operating income from the Newmar operating segment included in the Company's consolidated results following the November 8, 2019 closing date:
Three Months EndedNine Months Ended
(in thousands) May 30, 2020May 30, 2020
Net revenues$87,991  $262,070  
Operating loss  (3,503) (7,294) 

The following unaudited pro forma information represents the Company's results of operations as if the Fiscal 2020 acquisition of Newmar had occurred at the beginning of Fiscal 2019:
Three Months EndedNine Months Ended
(in thousands, except per share data) May 30, 2020May 25, 2019May 30, 2020May 25, 2019
Net revenues$402,458  $710,246  $1,770,985  $1,953,195  
Net (loss) income (10,004) 40,585  30,557  67,096  
Income per share - basic$(0.30) $1.21  $0.92  $2.00  
Income per share - diluted$(0.30) $1.21  $0.91  $2.00  
Pro Forma Data With Non-Recurring Adjustments
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 Newmar had occurred at the beginning of Fiscal 2019:
Three Months EndedNine Months Ended
(in thousands) May 30, 2020May 25, 2019May 30, 2020May 25, 2019
Amortization of intangibles (1 year or less useful life)(1)
$3,336  $—  $13,610  $(13,610) 
Amortization of intangibles(2)
(1) (1,395) (1,060) (4,184) 
Expenses related to business combination (transaction costs)(3)
—  652  9,950  (10,602) 
Interest to reflect new debt structure(4)
(361) (4,857) (4,032) (14,027) 
Taxes related to the adjustments to the pro forma data and to the income of Newmar(5)
(625) (1,173) (3,077) 3,412  
(1) Includes amortization adjustments for our backlog intangible asset and our fair-value inventory adjustment.
(2) Includes amortization adjustments for our dealer network and non-compete intangible assets.
(3) Pro forma transaction costs include $0.6 million incurred prior to the acquisition.
(4) Includes adjustments for cash and non-cash interest expense as well as deferred financing costs. Refer to Note 9, Long-Term Debt, for additional information on the Company's new debt structure as a result of the acquisition.
(5) Calculated using our U.S. federal statutory rate of 21.0%.