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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Aug. 28, 2021
Aug. 29, 2020
Aug. 31, 2019
Operating Activities      
Net income $ 281,871 $ 61,442 $ 111,798
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation 18,201 15,997 13,682
Amortization 14,361 22,104 9,635
Non-cash interest expense, net 13,928 10,727 0
Amortization of debt issuance costs 2,465 7,379 1,612
Last in, first-out expense 3,131 (5,188) 2,258
Stock-based compensation 15,347 6,475 7,058
Deferred income taxes (2,190) (879) 7,984
Deferred compensation expense 1,087 1,070 1,056
Other, net (4,665) 1,335 257
Change in operating assets and liabilities, net of assets and liabilities acquired      
Receivables, net (33,034) (25,773) 6,418
Inventories, net (161,663) 105,994 (8,256)
Prepaid expenses and other assets (6,560) (358) (4,499)
Accounts payable 51,478 37,041 907
Income taxes and unrecognized tax benefits (3,721) 11,422 (13,810)
Accrued expenses and other liabilities 47,243 21,646 (2,350)
Net cash provided by operating activities 237,279 270,434 133,750
Investing Activities      
Purchases of property, plant, and equipment (44,891) (32,377) (40,858)
Acquisition of business, net of cash acquired 0 (260,965) (702)
Proceeds from the sale of property, plant, and equipment 12,452 0 148
Other, net (570) 266 2,476
Net cash used in investing activities (33,009) (293,076) (38,936)
Financing Activities      
Borrowings on long-term debt 3,627,627 2,786,824 891,892
Repayments on long-term debt (3,627,627) (2,446,824) (930,424)
Purchase of convertible bond hedge 0 (70,800) 0
Proceeds from issuance of warrants 0 42,210 0
Payments of cash dividends (16,168) (14,588) (13,670)
Payments for repurchases of common stock (47,589) (1,844) (8,171)
Payments of debt issuance costs (224) (18,030) 0
Other, net 1,699 838 648
Net cash (used in) provided by financing activities (62,282) 277,786 (59,725)
Net increase in cash and cash equivalents 141,988 255,144 35,089
Cash and cash equivalents at beginning of period 292,575 37,431 2,342
Cash and cash equivalents at end of period 434,563 292,575 37,431
Supplemental Disclosures      
Income taxes paid, net 88,698 3,667 37,061
Interest paid 24,119 17,253 14,921
Non-cash investing and financing activities      
Issuance of common stock for acquisition of business 0 92,572 0
Capital expenditures in accounts payable 3,760 178 387
Dividends declared not yet paid $ 6,497 $ 180 $ 59