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Consolidated Balance Sheets - USD ($)
$ in Millions
May 27, 2023
Aug. 27, 2022
Current assets    
Cash and cash equivalents $ 225.9 $ 282.2
Receivables, less allowance for doubtful accounts ($0.7 and $0.6, respectively) 205.3 254.1
Inventories, net 518.0 525.8
Prepaid expenses and other current assets 22.6 31.7
Total current assets 971.8 1,093.8
Property, plant, and equipment, net 320.0 276.2
Goodwill 514.5 484.2
Other intangible assets, net 507.7 472.4
Investment in life insurance 29.1 28.6
Operating lease assets 42.1 41.1
Deferred income tax assets, net 8.3 0.0
Other long-term assets 19.3 20.4
Total assets 2,412.8 2,416.7
Current liabilities    
Accounts payable 133.0 217.5
Income taxes payable 1.3 0.7
Accrued expenses:    
Accrued compensation 38.3 71.6
Product warranties 106.5 127.9
Self-insurance 22.9 21.4
Promotional 28.0 21.5
Accrued interest and dividends 16.6 13.0
Other current liabilities 50.5 48.5
Total current liabilities 397.1 522.1
Long-term debt, net 591.7 545.9
Deferred income tax liabilities, net 0.0 6.1
Unrecognized tax benefits 6.5 5.7
Long-term operating lease liabilities 41.7 40.4
Deferred compensation benefits, net of current portion 7.9 8.1
Other long-term liabilities 6.6 25.4
Total liabilities 1,051.5 1,153.7
Contingent liabilities and commitments (Note 11)
Shareholders' equity:    
Preferred stock, par value $0.01: 10.0 shares authorized; Zero shares issued and outstanding 0.0 0.0
Common stock, par value $0.50: 120.0 shares authorized; 51.8 shares issued 25.9 25.9
Additional paid-in capital 195.5 256.3
Retained earnings 1,713.4 1,537.5
Accumulated other comprehensive loss (0.4) (0.5)
Treasury stock, at cost: 21.6 and 21.5 shares, respectively (573.1) (556.2)
Total shareholders' equity 1,361.3 1,263.0
Total liabilities and shareholders' equity $ 2,412.8 $ 2,416.7