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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Feb. 26, 2022
Feb. 27, 2021
Operating activities    
Net income $ 190,805 $ 126,491
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation 10,767 8,559
Amortization 16,187 7,181
Non-cash interest expense, net 7,326 6,769
Amortization of debt issuance costs 1,225 1,229
Last in, first-out expense 2,772 552
Stock-based compensation 6,891 6,981
Deferred income taxes (1,977) 914
Contingent consideration fair value adjustment 12,887 0
Other, net 2,212 (3,460)
Change in operating assets and liabilities, net of assets and liabilities acquired    
Receivables, net (123,595) (11,547)
Inventories, net (109,304) (96,079)
Prepaid expenses and other assets 5,613 2,321
Accounts payable 26,703 12,487
Income taxes and unrecognized tax benefits (7,941) (10,698)
Accrued expenses and other liabilities 5,570 15,222
Net cash provided by operating activities 46,141 66,922
Investing activities    
Purchases of property, plant, and equipment (43,426) (14,920)
Acquisition of business, net of cash acquired (228,159) 0
Proceeds from the sale of property, plant, and equipment 49 7,778
Other, net (245) (223)
Net cash used in investing activities (271,781) (7,365)
Financing activities    
Borrowings on long-term debt 1,943,583 1,647,764
Repayments on long-term debt (1,943,583) (1,647,764)
Payments of cash dividends (11,991) (8,075)
Payments for repurchases of common stock (64,218) (12,109)
Payments of debt issuance costs 0 (224)
Other, net 2,118 1,291
Net cash used in financing activities (74,091) (19,117)
Net (decrease)/increase in cash and cash equivalents (299,731) 40,440
Cash and cash equivalents at beginning of period 434,563 292,575
Cash and cash equivalents at end of period 134,832 333,015
Supplemental Disclosures    
Income taxes paid, net 71,344 47,804
Interest paid 11,891 12,244
Non-cash investing and financing activities    
Issuance of common stock for acquisition of business 22,000 0
Capital expenditures in accounts payable 1,126 195
Increase (decrease) in lease assets in exchange for lease liabilities:    
Operating leases 17,164 (142)
Finance leases $ 1,698 $ (10)