Winnebago Industries (WGO) 10-Q 29 Dec 16 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Nov. 26, 2016	Dec. 28, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	WINNEBAGO INDUSTRIES INC
Entity Central Index Key	107,687
Current Fiscal Year End Date	--08-26
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Nov. 26, 2016
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		31,582,687

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Nov. 26, 2016	Nov. 28, 2015
Net revenues	$ 245,308	$ 214,223
Cost of goods sold	216,433	188,974
Gross profit	28,875	25,249
Operating expenses:
Selling	5,870	5,015
General and administrative	9,906	8,820
Postretirement health care benefit income	(12,813)	(1,345)
Transaction costs	5,462	0
Amortization of intangible assets	2,051	0
Total operating expenses	10,476	12,490
Operating income	18,399	12,759
Interest expense	1,128	0
Non-operating income	(87)	(135)
Income before income taxes	17,358	12,894
Provision for taxes	5,620	4,336
Net income	$ 11,738	$ 8,558
Income per common share:
Basic	$ 0.42	$ 0.32
Diluted	$ 0.42	$ 0.32
Weighted average common shares outstanding:
Basic (in shares)	27,836	26,976
Diluted (in shares)	27,969	27,067
Common stock, dividends, per share, cash paid	$ 0.10	$ 0.10
Other comprehensive (loss) income:
Amortization of prior service credit (net of tax of $7,914 and $653)	$ (12,858)	$ (1,060)
Amortization of net actuarial loss (net of tax of $3,036 and $142)	(4,932)	(231)
Plan amendment, (net of tax of $2,402 and $10,895)	3,903	17,701
Total other comprehensive (loss) income	(4,023)	16,872
Comprehensive income	$ 7,715	$ 25,430

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Nov. 26, 2016	Nov. 28, 2015
Amortization of prior service credit, tax	$ 7,914	$ 653
Amortization of net actuarial loss, tax	3,036	142
Plan amendment, tax	$ 2,402	$ 10,895

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Nov. 26, 2016	Aug. 27, 2016
Current assets:
Cash and cash equivalents	$ 25,584	$ 85,583
Receivables, less allowance for doubtful accounts ($238 and $278)	81,762	66,184
Inventories	155,446	122,522
Prepaid expenses and other assets	10,561	6,300
Total current assets	273,353	280,589
Property, plant and equipment, net	66,703	55,931
Goodwill	251,210	1,228
Other intangible assets, net	251,049	0
Investment in life insurance	26,653	26,492
Deferred income taxes	7,706	18,753
Other assets	6,021	7,725
Total assets	882,695	390,718
Current liabilities:
Accounts payable	50,971	44,134
Current maturities of long-term debt	7,578	0
Income taxes payable	3,541	19
Accrued expenses:
Accrued compensation	20,452	19,699
Product warranties	24,551	12,412
Self-insurance	6,037	5,812
Accrued loss on repurchases	1,340	881
Promotional	8,078	4,756
Other	5,919	5,236
Total current liabilities	128,467	92,949
Non-current liabilities:
Long-term debt, less current maturities	334,742	0
Unrecognized tax benefits	2,066	2,461
Deferred compensation and postretirement health care benefits, net of current portion	19,961	26,949
Total non-current liabilities	356,769	29,410
Shareholders' equity:
Capital stock common, par value $0.50; authorized 60,000 shares, issued 51,776 shares	25,888	25,888
Additional paid-in capital	78,941	32,717
Retained earnings	629,099	620,546
Accumulated other comprehensive income	6,952	10,975
Treasury stock, at cost (20,230 and 24,875 shares)	(343,421)	(421,767)
Total shareholders' equity	397,459	268,359
Total liabilities and shareholders' equity	$ 882,695	$ 390,718

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Nov. 26, 2016	Aug. 27, 2016
Statement of Financial Position [Abstract]
Receivables, less allowance for doubtful accounts	$ 238	$ 278
Capital stock common, par value (in dollars per share)	$ 0.5	$ 0.5
Capital stock common, shares authorized (in shares)	60,000	60,000
Capital stock common, shares issued (in shares)	51,776	51,776
Treasury stock, at cost, shares (in shares)	20,230	24,875

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Nov. 26, 2016	Nov. 28, 2015
Operating activities:
Net income	$ 11,738	$ 8,558
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation	1,580	1,370
Amortization of intangible assets	2,051	0
Amortization of debt issuance costs	78	0
LIFO expense (income)	299	(90)
Stock-based compensation	821	623
Deferred income taxes	(1,613)	382
Postretirement benefit income and deferred compensation expense	(12,471)	(777)
Other	(271)	(295)
Change in assets and liabilities:
Inventories	(17,923)	(24,109)
Receivables, prepaid and other assets	16,080	7,366
Income taxes and unrecognized tax benefits	8,200	1,254
Accounts payable and accrued expenses	(7,977)	(1,375)
Postretirement and deferred compensation benefits	(742)	(970)
Net cash used in operating activities	(150)	(8,063)
Investing activities:
Purchases of property and equipment	(3,562)	(3,109)
Proceeds from the sale of property	0	5
Acquisition of business, net of cash acquired	394,835	0
Proceeds from life insurance	0	295
Other	901	(220)
Net cash used in investing activities	(397,496)	(3,029)
Financing activities:
Payments for purchases of common stock	(1,318)	(705)
Payments of cash dividends	(3,185)	(2,730)
Payments of debt issuance costs	(10,758)	0
Borrowings on credit facility	353,000	0
Other	(92)	9
Net cash provided by (used in) financing activities	337,647	(3,426)
Net decrease in cash and cash equivalents	(59,999)	(14,518)
Cash and cash equivalents at beginning of period	85,583	70,239
Cash and cash equivalents at end of period	25,584	55,721
Supplemental cash flow disclosure:
Income taxes paid, net	121	2,675
Non-cash transactions:
Issuance of Winnebago common stock for acquisition of business	124,066	0
Capital expenditures in accounts payable	$ 695	$ 826

Basis of Presentation

Basis of Presentation	3 Months Ended
	Nov. 26, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Basis of Presentation The "Company," "we," "our" and "us" are used interchangeably to refer to Winnebago Industries, Inc. and its wholly-owned subsidiaries, as appropriate in the context. We were incorporated under the laws of the state of Iowa on February 12, 1958 and adopted our present name on February 28, 1961. Our executive offices are located at 605 West Crystal Lake Road in Forest City, Iowa. Our telephone number is (641) 585-3535; our website is www.winnebagoind.com. Our common stock trades on the NYSE under the symbol “WGO.” The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with GAAP for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. As permitted under those rules, certain footnotes or other financial information that are normally required by GAAP can be condensed or omitted. In our opinion, the accompanying unaudited condensed consolidated financial statements contain all adjustments, consisting of normal recurring accruals, necessary to present fairly our consolidated financial position as of November 26, 2016 and the consolidated results of income and comprehensive income and consolidated cash flows for the first three months of Fiscal 2017 and 2016 . The consolidated statement of income and comprehensive income for the first three months of Fiscal 2017 is not necessarily indicative of the results to be expected for the full year. These interim financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto appearing in our Annual Report on Form 10-K for the fiscal year ended August 27, 2016 . Fiscal Period We follow a 52-/53-week fiscal year, ending the last Saturday in August. Both Fiscal 2017 and Fiscal 2016 are 52-week years. Goodwill and Indefinite-Lived Intangible Assets Goodwill resulted primarily from the Grand Design business combination and represents the excess of the purchase price over the fair value of tangible assets and identifiable intangible assets and liabilities assumed. Annually in the fourth quarter, or if conditions indicate an interim review is necessary, we assess qualitative factors to determine if it is more likely than not that the fair value of a reporting unit is less than its carrying amount and if it is necessary to perform the quantitative two-step goodwill impairment test. If we perform the quantitative test, we compare the carrying value of the reporting unit to an estimate of the reporting unit’s fair value to identify potential impairment. The estimate of the reporting unit’s fair value is determined by weighting a discounted cash flow model and a market-related model using current industry information that involve significant unobservable inputs (Level 3 inputs). In determining the estimated future cash flow, we consider and apply certain estimates and judgments, including current and projected future levels of income based on management’s plans, business trends, prospects and market and economic conditions and market-participant considerations. If the estimated fair value of the reporting unit is less than the carrying value, a second step is performed to determine the amount of the potential goodwill impairment. If impaired, goodwill is written down to its estimated implied fair value. As of November 26, 2016 , we had an indefinite-lived intangible asset for trade name of $148.0 million , from the Grand Design acquisition. Annually in the fourth quarter, or if conditions indicate an interim review is necessary, we assess qualitative factors to determine if it is more likely than not that the fair value of an indefinite-lived intangible asset is less than its carrying amount. If we perform a quantitative test, projections regarding estimated discounted future cash flows and other factors are made to determine if impairment has occurred. These assumptions require significant judgment and actual results may differ from assumed and estimated amounts. If we conclude that there has been impairment, we will write down the carrying value of the asset to its fair value. Other Intangible and Long-Lived Assets Long-lived assets, which include property, plant and equipment, and definite-lived intangible assets, primarily the dealer network, are assessed for impairment whenever events or changes in circumstances indicate the carrying amount of the asset may not be recoverable. The impairment testing involves comparing the carrying amount of the asset to the forecasted undiscounted future cash flows generated by that asset. These assumptions require significant judgment and actual results may differ from assumed and estimated amounts. In the event the carrying amount of the asset exceeds the undiscounted future cash flows generated by that asset and the carrying amount is not considered recoverable, an impairment exists. An impairment loss is measured as the excess of the asset’s carrying amount over its fair value and is recognized in the statement of income in the period that the impairment occurs. The dealer network is amortized over its estimated useful life of 12 years. The reasonableness of the useful lives of this asset and other long-lived assets is regularly evaluated. There was no impairment loss for the period ended November 26, 2016 for goodwill, indefinite-lived intangible, or long-lived assets. Debt Issuance Costs We incurred $0.8 million of costs related to our revolving credit agreement that are being amortized on a straight-line basis over the five year term of the agreement. We incurred $10.0 million of costs related to the Term Loan that are being amortized on a straight-line basis (which is not materially different from an effective interest method) over the seven year term of the agreement. If early principal payments are made on the Term Loan, a proportional portion of the unamortized issuance costs will be expensed. New Accounting Pronouncements In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) , which specifies how and when to recognize revenue as well as providing informative, relevant disclosures. In August 2015, the FASB deferred the effective date of this standard by one year, which would become effective retrospectively or on a modified retrospective basis for fiscal years beginning after December 15, 2017 (our Fiscal 2019). We are currently evaluating the impact on our consolidated financial statements. In April 2015, the FASB issued ASU 2015-03, Interest - Imputation of Interest (Topic 835) , which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. We adopted the standard during the first quarter of FY 2017 and, accordingly have presented unamortized debt issuance costs of $1.4 million as a direct reduction of Current maturities of long-term debt and $9.3 million as a direct reduction of Long-term debt, less current maturities on the Consolidated Balance Sheet as of November 26, 2016. In July 2015, the FASB issued ASU 2015-11, Inventory (Topic 330), which requires inventory measured using any method other than last-in, first-out (“LIFO”) or the retail inventory method to be subsequently measured at the lower of cost or net realizable value, rather than at the lower of cost or market. Under this ASU, subsequent measurement of inventory using the LIFO and retail inventory method is unchanged. ASU 2015-11 will become effective prospectively for fiscal years beginning after December 15, 2016 (our Fiscal 2018). We are currently evaluating the impact of this ASU on our consolidated financial statements and do not expect adoption to have a material impact. In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805), to simplify the accounting for measurement-period adjustments in a business combination. Under the new standard, an acquirer must recognize adjustments to provisional amounts in a business combination in the reporting period in which the adjustment amounts are determined, rather than retrospectively adjusting the provisional amounts recognized at the acquisition date with a corresponding adjustment to goodwill as under current guidance. ASU 2015-16 is effective prospectively for fiscal years, and the interim periods within those years, beginning after December 15, 2015 (our Fiscal 2017). We adopted this standard on August 28, 2016 and there was no impact from this standard for the three months ended November 26, 2016. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which requires an entity to recognize both assets and liabilities arising from financing and operating leases, along with additional qualitative and quantitative disclosures. The new standard is effective retrospectively or on a modified retrospective basis for fiscal years beginning after December 15, 2018 (our Fiscal 2020), including interim periods within those annual reporting periods. Early adoption is permitted. We are currently evaluating the impact of adopting this ASU on our consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting (Topic 718) , which simplifies several aspects of the accounting for employee share-based payment transactions, including the accounting for the related income taxes, forfeitures, statutory tax withholding requirements and classification in the statement of cash flows. ASU 2016-09 is effective for annual reporting periods beginning after December 15, 2016 (our Fiscal 2018), including interim periods within those annual reporting periods. Early adoption is permitted. We are currently evaluating the impact of this ASU on our consolidated financial statements and do not expect adoption to have a material impact. In August 2016, the FASB issued ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments (Topic 230) , which provides guidance for eight specific cash flow issues with the objective of reducing the existing diversity in practice. ASU 2016-15 is effective retrospectively for annual reporting periods beginning after December 15, 2017 (our Fiscal 2019), including interim periods within those annual reporting periods. Early adoption is permitted. We are currently evaluating the impact of this ASU on our consolidated financial statements.

Business Combination, Goodwill

Business Combination, Goodwill and Other Intangible Assets	3 Months Ended
	Nov. 26, 2016
Business Combinations [Abstract]
Business Combination, Goodwill and Other Intangible Assets	Business Combination, Goodwill and Other Intangible Assets We acquired 100% of the ownership interests of Grand Design on November 8, 2016 in accordance with the Securities Purchase Agreement for an aggregate purchase price of $520.6 million , which was paid in cash and Winnebago shares as follows: (In thousands, except shares) November 8, Cash $ 396,583 Winnebago shares: 4,586,555 at $27.05 per share 124,066 Total $ 520,649 The cash portion was funded from cash on hand and borrowings under our ABL and Term Loan agreements. The stock was valued using our share price on the date of closing. The acquisition has been accounted for in accordance with ASC Topic 805, Business Combinations , using the acquisition method of accounting. Under the acquisition method of accounting, the total purchase price was allocated to the net tangible and intangible assets of Grand Design acquired, based on their fair values at the date of the acquisition. The estimated fair values are preliminary and based on the information that was available as of the date of the acquisition. We believe that the information provides a reasonable basis for estimating the fair values, but we are waiting for additional information necessary to finalize these amounts, particularly with respect to the estimated fair value of intangible assets, finalization of net working capital as defined in the SPA and income taxes. Thus, the preliminary measurements of fair value reflected are subject to changes and such changes could be significant. We expect to finalize the valuation and complete the purchase price allocation as soon as practicable, but no later than one year from the acquisition date. The preliminary allocation of the purchase price to assets acquired and liabilities assumed is as follows: (in thousands) November 8, Cash $ 1,748 Accounts receivable 32,834 Inventories 15,300 Prepaid expenses and other assets 2,161 Property, plant and equipment 8,998 Goodwill 249,981 Other intangible assets 253,100 Total assets acquired 564,122 Accounts payable 11,151 Accrued compensation 3,615 Product warranties 12,904 Promotional 3,976 Other 1,569 Deferred tax liabilities 10,258 Total liabilities assumed 43,473 Total purchase price $ 520,649 The acquisition of 100% of the ownership interests of Grand Design occurred in two steps: (1) direct purchase of 89.34% of Grand Design member interests and (2) simultaneous acquisition of the remaining 10.66% of Grand Design member interests via the purchase of 100% of the shares of SP GE VIII-B GD RV Blocker Corp. (Blocker Corp) which held the remaining 10.66% of the Grand Design member interests. We agreed to acquire Blocker Corp as part of the Securities Purchase Agreement and we will not receive a step-up in basis for 10.66% of the Grand Design assets. As a result, we established a deferred tax liability of $10.3 million on the opening balance sheet that primarily related to intangibles that will not be amortizable for tax purposes. The goodwill recognized is primarily attributable to the value of the workforce, reputation of founders, customer and dealer growth opportunities and expected synergies. Key areas of cost synergies include increased purchasing power for raw materials, and supply chain consolidation. Goodwill is expected to be mostly deductible for tax purposes. The goodwill resulting from the acquisition of Grand Design increased total goodwill to $251.2 million within the Towable segment as of November 26, 2016 from $1.2 million as of August 27, 2016 . The allocation of the purchase price to the net assets acquired and liabilities assumed resulted in the recognition of intangible assets with fair value on closing date of November 8, 2016 and amortization accumulated from closing date through November 26, 2016 as follows: (in thousands) Weighted Average Life- Years Fair Value Amount Accumulated Amortization Trade name Indefinite $ 148,000 $ — Dealer network 12.0 80,500 331 Backlog 0.5 18,000 1,639 Non-compete agreements 4.0 4,600 69 Leasehold interest-favorable 8.1 2,000 12 Total 253,100 $ 2,051 Accumulated amortization (2,051 ) Net book value of intangible assets $ 251,049 The fair value of the trade name and dealer network were estimated using an income approach. Under the income approach, an intangible asset’s fair value is equal to the present value of future economic benefits to be derived from ownership of the asset. The fair value of the trade name was estimated using an income approach, specifically known as the relief from royalty method. The relief from royalty method is based on the hypothetical royalty stream that would be received if we were to license the trade name and was based on expected revenues. The fair value of the dealer network was estimated using an income approach, specifically the cost to recreate/cost savings method. This method uses the replacement of the asset as an indicator of the fair value of the asset. The useful life of the intangible assets was determined considering the period of expected cash flows used to measure the fair value of the intangible assets adjusted as appropriate for the entity-specific factors including legal, regulatory, contractual, competitive, economic or other factors that may limit the useful life of intangible assets. For the three months ended November 26, 2016 and November 28, 2015 , amortization of intangible assets charged to operations was $2.1 million and $0 , respectively. The weig hted average remaining amortization period for intangible assets as of November 26, 2016 was approximatel y 9.8 years . Remaining estimated aggregate annual amortization expense by fiscal year is as follows: (in thousands) Amount Remainder of 2017 $ 22,610 2018 7,854 2019 7,733 2020 7,733 2021 7,733 2022 7,106 Thereafter 42,280 Within the Towable segment, the results of Grand Design's operations have been included in our consolidated financial statements from the close of the acquisition. The following table provides net revenues and operating income (which includes amortization expense) from the Grand Design business included in our consolidated results during the three months ended November 26, 2016 following the November 8, 2016 closing date: Three Months Ended (in thousands) November 26, 2016 Net revenues $ 25,836 Operating income 760 Unaudited pro forma information has been prepared as if the acquisition had taken place on August 30, 2015. The unaudited pro forma information is not necessarily indicative of the results that we would have achieved had the transaction actually taken place on August 30, 2015, and the unaudited pro forma information does not purport to be indicative of future financial operating results. The unaudited pro forma condensed consolidated financial information does not reflect any operating efficiencies and cost savings that may be realized from the integration of the acquisitions. Unaudited pro forma information for the three months ended November 26, 2016 and November 28, 2015 is as follows: Three Months Ended (In thousands, except per share data) November 26, November 28, Net revenues $ 340,975 $ 300,383 Net income 20,269 1,197 Income per share - basic 0.64 0.04 Income per share - diluted 0.64 0.04 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: Three Months Ended (In thousands) November 26, November 28, Amortization of intangibles (1 year or less useful life) $ (1,941 ) $ 8,708 Increase in amortization of intangibles 1,551 1,933 Expenses related to business combination (transaction costs) (1) (5,519 ) 5,840 Interest to reflect new debt structure 3,672 4,958 Taxes related to the adjustments to the pro forma data and to the income of Grand Design 5,011 (4,323 ) (1) Pro forma transaction costs include $0.1 million incurred by Grand Design prior to acquisition. We incurred approximately $5.8 million of acquisition-related costs, of which $5.5 million were expensed during the three months ended November 26, 2016 and $0.3 million were expensed in the three months ended August 27, 2016 .

Business Segments (Notes)

Business Segments (Notes)	3 Months Ended
	Nov. 26, 2016
Segment Reporting [Abstract]
Business Segments	Business Segments We report segment information based on the "management" approach defined in ASC 280, Segment Reporting . The management approach designates the internal reporting used by management for making decisions and assessing performance as the source of our reportable operating segments. In the first quarter of Fiscal 2017, we revised our reporting segments. Previously we had one reporting segment which included all recreational vehicle products and services. With the acquisition of Grand Design in the first quarter, we expanded the number of reporting segments to two : (1) Motorized products and services and (2) Towable products and services. The Towable segment includes all products which are not motorized and are generally towed by another vehicle. The Motorized segment includes all products that include a motorized chassis as well as other related manufactured products. Prior year segment information has been restated to conform to the current reporting segment presentation. We manage our business on a product basis. Each reportable segment is managed separately to better align to our customers, distribution partners and the unique market dynamics of the product groups. We have aggregated two operating segments into the Towable reporting segment based upon their similar products, customers, distribution methods, production processes and economic characteristics. The accounting policies of both reportable segments are the same and described in Note 1, "Summary of Significant Accounting Policies" in our annual report on Form 10-K for the year ended August 27, 2016 . We evaluate the performance of our reportable segments based on Adjusted EBITDA. Adjusted EBITDA is defined as earnings before interest, taxes, depreciation and amortization and other adjustments made in order to present comparable results from period to period. These types of adjustments are also specified in the definition of certain measures required under the terms of our credit facility. Examples of items excluded from Adjusted EBITDA include the postretirement health care benefit results from terminating the plan and the transaction costs related to our acquisition of Grand Design. The following table shows information by reporting segment for the first quarter of Fiscal 2017 and Fiscal 2016 : Three Months Ended (In thousands) November 26, November 28, Net revenues Motorized $ 195,125 $ 197,340 Towable 50,183 16,883 Consolidated $ 245,308 $ 214,223 Adjusted EBITDA Motorized $ 10,015 $ 11,724 Towable 4,664 1,060 Consolidated $ 14,679 $ 12,784 Capital Expenditures Motorized $ 3,146 $ 2,872 Towable 416 237 Consolidated $ 3,562 $ 3,109 Total Assets Motorized $ 307,125 $ 329,081 Towable 575,570 25,251 Consolidated $ 882,695 $ 354,332 Reconciliation of net income to consolidated Adjusted EBITDA: Three Months Ended (In thousands) November 26, November 28, Net income $ 11,738 $ 8,558 Interest expense 1,128 — Provision for income taxes 5,620 4,336 Depreciation 1,580 1,370 Amortization of intangible assets 2,051 — EBITDA 22,117 14,264 Postretirement health care benefit income (12,813 ) (1,345 ) Transaction costs 5,462 — Non-operating income (87 ) (135 ) Adjusted EBITDA $ 14,679 $ 12,784

Concentration Risk

Concentration Risk	3 Months Ended
	Nov. 26, 2016
Risks and Uncertainties [Abstract]
Concentration Risk	Concentration Risk One of our dealer organizations accounted for 14.2% of our consolidated net revenues for both the first three months of Fiscal 2017 and Fiscal 2016 . A second dealer organization accounted for 13.7% and 20.9% of our consolidated net revenues for the first three months of Fiscal 2017 and Fiscal 2016 , respectively. This second dealer declined on a relative basis due to the growth of other dealers and due to the addition of Grand Design revenue in the first quarter of Fiscal 2017 . The loss of either or both of these dealer organizations could have a significant adverse effect on our business. In addition, deterioration in the liquidity or creditworthiness of these dealers could negatively impact our sales and could trigger repurchase obligations under our repurchase agreements.

Investments and Fair Value Meas

Investments and Fair Value Measurements	3 Months Ended
	Nov. 26, 2016
Fair Value Disclosures [Abstract]
Investments and Fair Value Measurements	Assets and Liabilities that are Measured at Fair Value on a Recurring Basis We account for fair value measurements in accordance with ASC 820, Fair Value Measurements and Disclosures, which defines fair value, establishes a framework for measurement and expands disclosure about fair value measurement. The fair value hierarchy requires the use of observable market data when available. In instances in which the inputs used to measure fair value fall into different levels of the fair value hierarchy, the fair value measurement has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. Our assessment of the significance of a particular item to the fair value measurement in its entirety requires judgment, including the consideration of inputs specific to the asset or liability. The following tables set forth by level within the fair value hierarchy our financial assets that were accounted for at fair value on a recurring basis at November 26, 2016 and August 27, 2016 according to the valuation techniques we used to determine their fair values: Fair Value Measurements Using Inputs Considered As (In thousands) Fair Value at Level 1 Quoted Prices in Active Markets for Identical Assets Level 2 Significant Other Observable Inputs Level 3 Significant Unobservable Inputs Cash equivalents (1) $ — $ — $ — $ — Assets that fund deferred compensation: Domestic equity funds 3,482 3,395 87 — International equity funds 243 203 40 — Fixed income funds 272 201 71 — Total assets at fair value $ 3,997 $ 3,799 $ 198 $ — Fair Value Measurements Using Inputs Considered As (In thousands) Fair Value at Level 1 Quoted Prices in Active Markets for Identical Assets Level 2 Significant Other Observable Inputs Level 3 Significant Unobservable Inputs Cash equivalents (1) $ 77,234 $ 77,234 $ — $ — Assets that fund deferred compensation: Domestic equity funds 3,587 3,515 72 — International equity funds 258 225 33 — Fixed income funds 265 206 59 — Total assets at fair value $ 81,344 $ 81,180 $ 164 $ — (1) Cash equivalent balances valued using Level 1 inputs include only those accounts that may fluctuate in value. Cash in disbursing accounts and on-demand accounts are not included above. The following methods and assumptions were used to estimate the fair value of each class of financial instrument: Cash Equivalents The carrying value of cash equivalents approximates fair value as original maturities are less than three months. Our cash equivalents are comprised of money market funds traded in an active market with no restrictions and are included in cash and cash equivalents on the accompanying consolidated balance sheets. Assets that Fund Deferred Compensation Our assets that fund deferred compensation are marketable equity securities measured at fair value using quoted market prices and primarily consist of equity-based mutual funds. The majority of securities are classified as Level 1 as they are traded in an active market for which closing stock prices are readily available. These securities fund the Executive Share Option Plan and the Executive deferred compensation plan (see Note 10 ). The proportion of the assets that will fund options which expire within a year are included in prepaid expenses and other current assets in the accompanying consolidated balance sheets. The remaining assets are classified as noncurrent and are included in other assets. Assets and Liabilities that are Measured at Fair Value on a Nonrecurring Basis Our non-financial assets, which include goodwill, intangible assets, and property, plant and equipment, are not required to be measured at fair value on a recurring basis. However, if certain triggering events occur, or if an annual impairment test is required, we must evaluate the non-financial asset for impairment. If an impairment did occur, the asset is required to be recorded at the estimated fair value. During the first three months of Fiscal 2017 , no impairments were recorded for non-financial assets. The carrying value of our debt as of November 26, 2016 approximates fair value as interest is at variable market rates.

Inventories

Inventories	3 Months Ended
	Nov. 26, 2016
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consist of the following: (In thousands) November 26, August 27, Finished goods $ 41,175 $ 19,129 Work-in-process 76,569 76,350 Raw materials 71,698 60,740 Total 189,442 156,219 LIFO reserve (33,996 ) (33,697 ) Total inventories $ 155,446 $ 122,522 The above value of inventories, before reduction for the LIFO reserve, approximates replacement cost at the respective dates. Of the $189.4 million and $156.2 million inventory at November 26, 2016 and August 27, 2016 , respectively, $165.6 million and $149.4 million is valued on a LIFO basis; the remaining inventories of $23.8 million and $6.8 million at November 26, 2016 and August 27, 2016 , respectively, are valued on a FIFO basis.

Property, Plant and Equipment

Property, Plant and Equipment	3 Months Ended
	Nov. 26, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment is stated at cost, net of accumulated depreciation and consists of the following: (In thousands) November 26, August 27, Land $ 4,047 $ 3,864 Buildings and building improvements 69,329 62,073 Machinery and equipment 98,285 95,087 Software 17,396 15,878 Transportation 9,153 8,956 Total property, plant and equipment, gross 198,210 185,858 Less accumulated depreciation (131,507 ) (129,927 ) Total property, plant and equipment, net $ 66,703 $ 55,931 On November 8, 2016 , with the acquisition of Grand Design, we acquired $9.0 million of property, plant and equipment.

Warranty

Warranty	3 Months Ended
	Nov. 26, 2016
Product Warranties Disclosures [Abstract]
Warranty	Warranty We provide service and warranty policies on our products. From time to time, we also voluntarily incur costs for certain warranty-type expenses occurring after the normal warranty period to help protect the reputation of our products and the goodwill of our customers. Warranty expense is affected by dealership labor rates, the cost of parts and the frequency of claims. Estimated costs related to product warranty are accrued at the time of sale and are based upon historical warranty and service claims experience. Adjustments are made to accruals as claim data and cost experience becomes available. Changes in our product warranty liability are as follows: Three Months Ended (In thousands) November 26, November 28, Balance at beginning of period $ 12,412 $ 11,254 Provision 3,898 3,594 Claims paid (4,663 ) (3,263 ) Acquisition of Grand Design 12,904 — Balance at end of period $ 24,551 $ 11,585

Long-Term Debt (Notes)

Long-Term Debt (Notes)	3 Months Ended
	Nov. 26, 2016
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt The components of long-term debt are as follows: (In thousands) November 26, August 27, ABL $ 53,000 $ — Term Loan 300,000 — 353,000 — Less: debt issuance cost, net (10,680 ) — 342,320 — Less: current maturities (7,578 ) — Long-term debt, less current maturities $ 334,742 $ — On November 8, 2016 , we entered into the ABL and Term Loan agreements with JPMorgan Chase. The Credit Facility replaced the prior Amended Credit Agreement which was terminated that same day. Under the terms of the Credit Facility, we have a $125.0 million ABL credit facility and a $300.0 million Term Loan. Under the ABL agreement, we have a five year credit facility available on a revolving basis, subject to availability under a borrowing base consisting of 85% of eligible accounts receivable and generally 75% of eligible inventory. The line is available for issuance of letters of credit to a specified limit of $10.0 million . Under the ABL agreement, to determine interest due, we can elect to base the rate on the alternate base rate (prime rate, NYFRB rate or adjusted LIBOR for one-month period) plus 0.5% to 1.0% , depending on the amount of borrowings outstanding, or an adjusted LIBOR rate for a period of one , two , three or six months as selected by us plus 1.50% to 2.0% , depending on the amount of borrowings outstanding. The interest rate we paid as of November 26, 2016 was 2.4% . We also pay a commitment fee equal to 0.375% if the average utilized portion is less than or equal to 50% , or 0.25% if the utilized portion is greater than 50% . Under the Term Loan agreement, we have a seven year credit facility repayable in quarterly installments in an aggregate amount equal to 1.0% of the original amount of the Term Loan on March 31, June 30 and September 30, 2017; 1.25% each calendar quarter end thereafter; with the balance payable at the end of seven years on November 8, 2023. There are mandatory prepayments for proceeds of new debt, sale of significant assets or subsidiaries and annually for 50% of excess cash flow beginning with Fiscal 2017 (the 50% is subject to step-downs to 25% and 0% if the total net leverage ratio, as defined in the Term Loan agreement, is less than 2.5 to 1.00 and 2.0 to 1.00, respectively, as of the last day of the period). Incremental term loans of up to $125.0 million are available if certain financial ratios and other conditions are met. Under the Term Loan agreement, to determine interest due, we can elect to base the rate on the alternate base rate (prime rate, NYFRB rate or adjusted LIBOR for one-month period with a floor of 2% ) plus 3.50% or an adjusted LIBOR rate for the interest period selected plus 4.50% . The interest rate as of November 26, 2016 was 5.5% . Under the Credit Facility, we are required to enter into a hedging arrangement to effectively fix the LIBOR component of interest cost at the prevailing swap rate with a notional amount of at least 50% of the projected outstanding principal amount of the Term Loan. The hedging arrangement needs to be maintained until the later of 3 years from closing date or the date the leverage ratio is less than 2.0 to 1.0. In accordance with this requirement, we plan to enter into interest swap contracts in January 2017. The Term Loan includes financial covenants requiring that the fixed charge coverage ratio at the end of any four fiscal quarters be not less than 1.0 to 1.0, defined as consolidated EBITDA (as defined) less capital expenditures (as defined), over fixed charges, generally defined as cash interest, cash income taxes, principal payments on loans, and dividends, and that the senior secured net leverage ratio at the end of each fiscal quarter be not greater than 3.5 to 1.0 prior to the fiscal quarter ending November 24, 2018 and 3.25 to 1.0 for each quarter thereafter, defined generally as the ratio of total secured indebtedness minus cash and permitted investments, to consolidated EBITDA (as defined). The ABL generally contain similar covenants, and include restrictions on indebtedness, liens, mergers, consolidations, investments, guarantees, acquisitions, sales of assets, and transactions with affiliates. Dividends, redemptions and other payments on equity are generally limited to $20.0 million in any fiscal year; higher amounts may be paid if the total net leverage ratio does not exceed 3.0 to 1.0. Customary events of default (with customary grace periods, notice and cure periods and thresholds) include payment default, breach of representation in any material respect, breach of covenants, default to material indebtedness, bankruptcy, ERISA violations, material judgments, change in control and termination of invalidity of guaranty or security documents. As of November 26, 2016 , we are in compliance with the financial covenants of the Credit Facility agreements. The ABL and Term Loan are guaranteed by Winnebago Industries, Inc. and all material direct and indirect domestic subsidiaries, and are secured by a security interest in all property of ours, except minor excluded assets. As of November 26, 2016 , $10.8 million of debt issuance costs, net of amortization of $0.1 million , were recorded as a direct deduction from long-term debt, $1.4 million from the current portion and $9.3 million from the long-term portion. Unamortized debt issuance costs of $0.1 million related to the prior Amended Credit Agreement were expensed in the three months ended November 26, 2016 . Aggregate contractual maturities of debt in future fiscal years, are as follows: (In thousands) Amount Year: 2017 $ 6,000 2018 14,250 2019 15,000 2020 15,000 2021 15,000 2022 68,000 2023 15,000 2024 204,750 Total debt $ 353,000

Employee and Retiree Benefits

Employee and Retiree Benefits	3 Months Ended
	Nov. 26, 2016
Compensation and Retirement Disclosure [Abstract]
Employee and Retiree Benefits	Employee and Retiree Benefits Postretirement health care and deferred compensation benefits are as follows: (In thousands) November 26, August 27, Postretirement health care benefit cost $ 32 $ 6,346 Non-qualified deferred compensation 17,616 18,003 Executive share option plan liability 3,181 3,341 SERP benefit liability 2,701 2,681 Executive deferred compensation 467 389 Officer stock-based compensation 657 763 Total deferred compensation and postretirement health care benefits 24,654 31,523 Less current portion (4,693 ) (4,574 ) Long-term deferred compensation and postretirement health care benefits $ 19,961 $ 26,949 Postretirement Health Care Benefits Historically, we provided certain health care and other benefits for retired employees hired before April 1, 2001, who had fulfilled eligibility requirements at age 55 with 15 years of continuous service. We used a September 1 measurement date for this plan and our postretirement health care plan was not funded. In Fiscal 2005, through a plan amendment, we established dollar caps on the amount that we paid for postretirement health care benefits per retiree on an annual basis so that we were not exposed to continued medical inflation. Retirees were required to pay a monthly premium in excess of the employer dollar caps for medical coverage based on years of service and age at retirement. Each year from 2012 to 2015, the employer established dollar caps were reduced by 10% through plan amendments. On January 1, 2016, postretirement health care benefits were discontinued for retirees age 65 and over. The plan amendment also included a 10% reduction in employer paid premiums for retirees under age 65 . On October 26, 2016, we announced the termination of the remaining postretirement health care benefits to all participants. Beginning January 1, 2017, postretirement health care benefits will be discontinued for retirees under age 65 . As a result of these amendments, our liability for postretirement health care was reduced as presented in the following table. Date Event Dollar Cap Reduction Liability Reduction (In thousands) Amortization Period (1) Fiscal 2005 Established employer dollar caps $ 40,414 11.5 years January 2012 Reduced employer dollar caps 10% 4,598 7.8 years January 2013 Reduced employer dollar caps 10% 4,289 7.5 years January 2014 Reduced employer dollar caps 10% 3,580 7.3 years January 2015 Reduced employer dollar caps 10% 3,960 7.1 years January 2016 Reduced employer dollar caps for retirees under age 65; discontinued retiree benefits for retirees age 65 and over 10% 28,596 6.9 years January 2017 (2) Terminated plan 6,338 0.2 years (1) Plan amendments are amortized on a straight-line basis over the expected remaining service period of active plan participants. (2) In accordance with ASC 715, the effects of the plan amendment are accounted for at the date the amendment is adopted and the date the amendment has been communicated to plan participants. The effective date for this plan amendment was October 26, 2016. Net periodic postretirement benefit income consisted of the following components: Three Months Ended (In thousands) November 26, November 28, Interest cost $ 29 $ 153 Service cost 16 41 Amortization of prior service benefit (20,772 ) (1,713 ) Amortization of net actuarial loss 7,959 368 Net periodic postretirement benefit income $ (12,768 ) $ (1,151 ) Payments for postretirement health care $ 53 $ 228

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Nov. 26, 2016
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders' Equity Stock-Based Compensation We have a 2014 Omnibus Equity, Performance Award, and Incentive Compensation Plan (as amended, the "Plan") in place as approved by shareholders, which allows us to grant or issue non-qualified stock options, incentive stock options, share awards and other equity compensation to key employees and to non-employee directors. On October 11, 2016 and October 13, 2015 the Human Resources Committee of the Board of Directors granted an aggregate of 97,600 and 204,200 shares, respectively, of restricted common stock to our key employees and non-employee directors under the Plan. The value of the restricted stock award is determined using the intrinsic value method which, in this case, is based on the number of shares granted and the closing price of our common stock on the date of grant. Stock-based compensation expense was $0.8 million and $0.6 million during the first quarters of Fiscal 2017 and 2016 , respectively. Compensation expense is recognized over the requisite service period of the award. Dividends On October 12, 2016 , the Board of Directors declared a quarterly cash dividend of $0.10 per share of common stock, which was paid on November 23, 2016 to shareholders of record at the close of business on November 9, 2016 . On December 14, 2016 , the Board of Directors declared a quarterly cash dividend of $0.10 per share of common stock, payable on January 25, 2017 to shareholders of record at the close of business on January 11, 2017 . Pending Share Registration As a result of the acquisition of Grand Design, Winnebago has agreed to register the 4,586,555 shares of common stock issued to the Summit Sellers and the RDB Sellers pursuant to the terms of a registration rights agreement. Under the registration rights agreement, Winnebago has agreed to file a shelf registration statement on the second business day following the filing of an amendment to Winnebago’s Current Report on Form 8-K reporting the completion of the acquisition of Grand Design containing the financial statements and pro forma financial information concerning the acquisition. Winnebago has agreed to keep the registration statement effective for up to three years. We intend to register these shares on Form S-3 in January of 2017.

Contingent Liabilites and Commi

Contingent Liabilites and Commitments	3 Months Ended
	Nov. 26, 2016
Commitments and Contingencies Disclosure [Abstract]
Contingent Liabilities and Commitments	Contingent Liabilities and Commitments Repurchase Commitments Generally, manufacturers in the RV industry enter into repurchase agreements with lending institutions which have provided wholesale floorplan financing to dealers. Most dealers' RVs are financed on a "floorplan" basis under which a bank or finance company lends the dealer all, or substantially all, of the purchase price, collateralized by a security interest in the recreation vehicles purchased. Our repurchase agreements provide that, in the event of default by the dealer on the agreement to pay the lending institution, we will repurchase the financed merchandise. The terms of these agreements, which generally can last up to 18 months, provide that our liability will be the lesser of remaining principal owed by the dealer to the lending institution, or dealer invoice less periodic reductions based on the time since the date of the original invoice. Our total contingent liability on all repurchase agreements was approximately $553.1 million and $409.3 million at November 26, 2016 and August 27, 2016 , respectively, with the increase attributed primarily to Grand Design. In certain instances, we also repurchase inventory from our dealers due to state law or regulatory requirements that govern voluntary or involuntary relationship terminations. Although laws vary from state to state, some states have laws in place that require manufacturers of recreation vehicles to repurchase current inventory if a dealership exits the business. Incremental repurchase exposure beyond existing repurchase agreements, related to dealer inventory in states that we have had historical experience of repurchasing inventory, totaled $9.0 million and $7.9 million at November 26, 2016 and August 27, 2016 , respectively, with the increase attributed primarily to Grand Design. Our risk of loss related to our repurchase commitments is significantly reduced by the potential resale value of any products that are subject to repurchase and is spread over numerous dealers and lenders although two dealer organizations account for approximately 28% of our revenues in the three months ended November 26, 2016. The aggregate contingent liability related to our repurchase agreements represents all financed dealer inventory at the period reporting date subject to a repurchase agreement, net of the greater of periodic reductions per the agreement or dealer principal payments. Based on the repurchase exposure as previously described, we established an associated loss reserve. Our accrued losses on repurchases were $1.3 million as of November 26, 2016 and $0.9 million as of August 27, 2016 . Repurchase risk is affected by the credit worthiness of our dealer network and we do not believe there is a reasonable likelihood that there will be a material change in the estimates or assumptions used to establish the loss reserve for repurchase commitments. A summary of repurchase activity is as follows: Three Months Ended (In thousands) November 26, November 28, Inventory repurchased $ — $ — Cash collected on resold inventory $ — $ 36 Gain realized on resold inventory $ — $ (1 ) Litigation We are involved in various legal proceedings which are ordinary litigation incidental to our business, some of which are covered in whole or in part by insurance. While we believe the ultimate disposition of litigation will not have material adverse effect on our financial position, results of operations or liquidity, there exists the possibility that such litigation may have an impact on our results for a particular reporting period in which litigation effects become probable and reasonably estimable. Though we do not believe there is a reasonable likelihood that there will be a material change related to these matters, litigation is subject to inherent uncertainties and management’s view of these matters may change in the future. Lease Commitments As part of our acquisition of Grand Design, we acquired leases to two properties which hold Grand Design’s current principal facilities, and facilities under construction for expansion. The lessor under these leases is an Indiana limited liability company, Three Oaks, LLC, owned by three of Grand Design's selling shareholders. One of the selling shareholders, Mr. Don Clark, has assumed the position of Vice President for Winnebago and is the President of Grand Design. Upon joining our company, Mr. Clark has agreed that as long as he is an employee of Grand Design he has relinquished his voting rights in Three Oaks, LLC while retaining all other economic rights in Three Oaks, LLC. Future commitments under these related party leases are as follows: (In thousands) Amount Year Ended: 2017 $ 1,450 2018 2,181 2019 2,084 2020 2,084 2021 2,084 Thereafter 6,994 Total $ 16,877 No other significant changes have been made to lease commitments disclosed in our Form 10-K for the year ended August 27, 2016 .

Income Taxes

Income Taxes	3 Months Ended
	Nov. 26, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes We account for income taxes under ASC 740, Income Taxes . The objectives of accounting for income taxes are to recognize the amount of taxes payable or refundable for the current year and deferred tax liabilities and assets for the future tax consequences of events that have been recognized in our financial statements or tax returns. We file tax returns in the US federal jurisdiction, as well as various international and state jurisdictions. Although certain years are no longer subject to examination by the IRS and various state taxing authorities, net operating loss carryforwards generated in those years may still be adjusted upon examination by the IRS or state taxing authorities if they have been or will be used in a future period. As of November 26, 2016 , our federal returns from Fiscal 2012 to present continue to be subject to review by the IRS. Our Fiscal 2014 Federal Return continues to remain under review by the IRS. With few exceptions, the state returns from Fiscal 2009 to present continue to be subject to review by the state taxing jurisdictions. A number of years may elapse before an uncertain tax position is audited and finally resolved, and it is often very difficult to predict the outcome of such audits. As of November 26, 2016 , our unrecognized tax benefits were $2.1 million including accrued interest and penalties of $0.6 million . If we were to prevail on all unrecognized tax benefits recorded, $1.6 million of the $2.1 million would benefit the overall effective tax rate. It is our policy to recognize interest and penalties accrued relative to unrecognized tax benefits as tax expense. We do not believe that there will be a significant change in the total amount of unrecognized tax benefits within the next twelve months.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Nov. 26, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table reflects the calculation of basic and diluted net income per share: Three Months Ended (In thousands, except per share data) November 26, November 28, Income per share - basic Net income $ 11,738 $ 8,558 Weighted average shares outstanding 27,836 26,976 Net income per share - basic $ 0.42 $ 0.32 Income per share - assuming dilution Net income $ 11,738 $ 8,558 Weighted average shares outstanding 27,836 26,976 Dilutive impact of awards and options outstanding 133 91 Weighted average shares and potential dilutive shares outstanding 27,969 27,067 Net income per share - assuming dilution $ 0.42 $ 0.32 The computation of weighted average shares and potential dilutive shares outstanding excludes the effects of options to purchase 44,000 and 24,000 shares of common stock for the first quarter of Fiscal 2017 and Fiscal 2016 , respectively. These amounts were not included in the computation of diluted income per share because they are considered anti-dilutive under the treasury stock method per ASC 260, Earnings Per Share .

Comprehensive Income (Loss)

Comprehensive Income (Loss)	3 Months Ended
	Nov. 26, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Comprehensive Income (Loss)	Comprehensive Income (Loss) Changes in defined benefit pension items in AOCI, net of tax, were: Three Months Ended (In thousands) November 26, November 28, Balance at beginning of period $ 10,975 $ (2,274 ) OCI before reclassifications 3,903 17,701 Amounts reclassified from AOCI (7,926 ) (829 ) Net current-period OCI (4,023 ) 16,872 Balance at end of period $ 6,952 $ 14,598 Reclassifications out of AOCI in net periodic benefit costs, net of tax, were: Three Months Ended (In thousands) Location on Consolidated Statements of Income and Comprehensive Income November 26, November 28, Amortization of prior service credit Operating expenses $ (12,858 ) $ (1,060 ) Amortization of net actuarial loss Operating expenses 4,932 231 Total reclassifications $ (7,926 ) $ (829 )

Subsequent Events

Subsequent Events	3 Months Ended
	Nov. 26, 2016
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event On December 14, 2016 our Board of Directors declared a cash dividend of $0.10 per share as noted in Note 11 .

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Nov. 26, 2016
Accounting Policies [Abstract]
Fiscal Period [Policy Text Block]	Fiscal Period We follow a 52-/53-week fiscal year, ending the last Saturday in August. Both Fiscal 2017 and Fiscal 2016 are 52-week years.
Goodwill and Indefinite-Lived Intangible Assets [Policy Text Block]	Goodwill and Indefinite-Lived Intangible Assets Goodwill resulted primarily from the Grand Design business combination and represents the excess of the purchase price over the fair value of tangible assets and identifiable intangible assets and liabilities assumed. Annually in the fourth quarter, or if conditions indicate an interim review is necessary, we assess qualitative factors to determine if it is more likely than not that the fair value of a reporting unit is less than its carrying amount and if it is necessary to perform the quantitative two-step goodwill impairment test. If we perform the quantitative test, we compare the carrying value of the reporting unit to an estimate of the reporting unit’s fair value to identify potential impairment. The estimate of the reporting unit’s fair value is determined by weighting a discounted cash flow model and a market-related model using current industry information that involve significant unobservable inputs (Level 3 inputs). In determining the estimated future cash flow, we consider and apply certain estimates and judgments, including current and projected future levels of income based on management’s plans, business trends, prospects and market and economic conditions and market-participant considerations. If the estimated fair value of the reporting unit is less than the carrying value, a second step is performed to determine the amount of the potential goodwill impairment. If impaired, goodwill is written down to its estimated implied fair value. As of November 26, 2016 , we had an indefinite-lived intangible asset for trade name of $148.0 million , from the Grand Design acquisition. Annually in the fourth quarter, or if conditions indicate an interim review is necessary, we assess qualitative factors to determine if it is more likely than not that the fair value of an indefinite-lived intangible asset is less than its carrying amount. If we perform a quantitative test, projections regarding estimated discounted future cash flows and other factors are made to determine if impairment has occurred. These assumptions require significant judgment and actual results may differ from assumed and estimated amounts. If we conclude that there has been impairment, we will write down the carrying value of the asset to its fair value.
Other Intangible and Long-Lived Assets [Policy Text Block]	Other Intangible and Long-Lived Assets Long-lived assets, which include property, plant and equipment, and definite-lived intangible assets, primarily the dealer network, are assessed for impairment whenever events or changes in circumstances indicate the carrying amount of the asset may not be recoverable. The impairment testing involves comparing the carrying amount of the asset to the forecasted undiscounted future cash flows generated by that asset. These assumptions require significant judgment and actual results may differ from assumed and estimated amounts. In the event the carrying amount of the asset exceeds the undiscounted future cash flows generated by that asset and the carrying amount is not considered recoverable, an impairment exists. An impairment loss is measured as the excess of the asset’s carrying amount over its fair value and is recognized in the statement of income in the period that the impairment occurs. The dealer network is amortized over its estimated useful life of 12 years. The reasonableness of the useful lives of this asset and other long-lived assets is regularly evaluated. There was no impairment loss for the period ended November 26, 2016 for goodwill, indefinite-lived intangible, or long-lived assets.
Debt Issuance Costs [Policy Text Block]	Debt Issuance Costs We incurred $0.8 million of costs related to our revolving credit agreement that are being amortized on a straight-line basis over the five year term of the agreement. We incurred $10.0 million of costs related to the Term Loan that are being amortized on a straight-line basis (which is not materially different from an effective interest method) over the seven year term of the agreement. If early principal payments are made on the Term Loan, a proportional portion of the unamortized issuance costs will be expensed.
New Accounting Pronouncements [Policy Text Block]	New Accounting Pronouncements In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) , which specifies how and when to recognize revenue as well as providing informative, relevant disclosures. In August 2015, the FASB deferred the effective date of this standard by one year, which would become effective retrospectively or on a modified retrospective basis for fiscal years beginning after December 15, 2017 (our Fiscal 2019). We are currently evaluating the impact on our consolidated financial statements. In April 2015, the FASB issued ASU 2015-03, Interest - Imputation of Interest (Topic 835) , which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. We adopted the standard during the first quarter of FY 2017 and, accordingly have presented unamortized debt issuance costs of $1.4 million as a direct reduction of Current maturities of long-term debt and $9.3 million as a direct reduction of Long-term debt, less current maturities on the Consolidated Balance Sheet as of November 26, 2016. In July 2015, the FASB issued ASU 2015-11, Inventory (Topic 330), which requires inventory measured using any method other than last-in, first-out (“LIFO”) or the retail inventory method to be subsequently measured at the lower of cost or net realizable value, rather than at the lower of cost or market. Under this ASU, subsequent measurement of inventory using the LIFO and retail inventory method is unchanged. ASU 2015-11 will become effective prospectively for fiscal years beginning after December 15, 2016 (our Fiscal 2018). We are currently evaluating the impact of this ASU on our consolidated financial statements and do not expect adoption to have a material impact. In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805), to simplify the accounting for measurement-period adjustments in a business combination. Under the new standard, an acquirer must recognize adjustments to provisional amounts in a business combination in the reporting period in which the adjustment amounts are determined, rather than retrospectively adjusting the provisional amounts recognized at the acquisition date with a corresponding adjustment to goodwill as under current guidance. ASU 2015-16 is effective prospectively for fiscal years, and the interim periods within those years, beginning after December 15, 2015 (our Fiscal 2017). We adopted this standard on August 28, 2016 and there was no impact from this standard for the three months ended November 26, 2016. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which requires an entity to recognize both assets and liabilities arising from financing and operating leases, along with additional qualitative and quantitative disclosures. The new standard is effective retrospectively or on a modified retrospective basis for fiscal years beginning after December 15, 2018 (our Fiscal 2020), including interim periods within those annual reporting periods. Early adoption is permitted. We are currently evaluating the impact of adopting this ASU on our consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting (Topic 718) , which simplifies several aspects of the accounting for employee share-based payment transactions, including the accounting for the related income taxes, forfeitures, statutory tax withholding requirements and classification in the statement of cash flows. ASU 2016-09 is effective for annual reporting periods beginning after December 15, 2016 (our Fiscal 2018), including interim periods within those annual reporting periods. Early adoption is permitted. We are currently evaluating the impact of this ASU on our consolidated financial statements and do not expect adoption to have a material impact. In August 2016, the FASB issued ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments (Topic 230) , which provides guidance for eight specific cash flow issues with the objective of reducing the existing diversity in practice. ASU 2016-15 is effective retrospectively for annual reporting periods beginning after December 15, 2017 (our Fiscal 2019), including interim periods within those annual reporting periods. Early adoption is permitted. We are currently evaluating the impact of this ASU on our consolidated financial statements.

Business Combination, Goodwil24

Business Combination, Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Nov. 26, 2016
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	The preliminary allocation of the purchase price to assets acquired and liabilities assumed is as follows: (in thousands) November 8, Cash $ 1,748 Accounts receivable 32,834 Inventories 15,300 Prepaid expenses and other assets 2,161 Property, plant and equipment 8,998 Goodwill 249,981 Other intangible assets 253,100 Total assets acquired 564,122 Accounts payable 11,151 Accrued compensation 3,615 Product warranties 12,904 Promotional 3,976 Other 1,569 Deferred tax liabilities 10,258 Total liabilities assumed 43,473 Total purchase price $ 520,649 We acquired 100% of the ownership interests of Grand Design on November 8, 2016 in accordance with the Securities Purchase Agreement for an aggregate purchase price of $520.6 million , which was paid in cash and Winnebago shares as follows: (In thousands, except shares) November 8, Cash $ 396,583 Winnebago shares: 4,586,555 at $27.05 per share 124,066 Total $ 520,649
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]	The allocation of the purchase price to the net assets acquired and liabilities assumed resulted in the recognition of intangible assets with fair value on closing date of November 8, 2016 and amortization accumulated from closing date through November 26, 2016 as follows: (in thousands) Weighted Average Life- Years Fair Value Amount Accumulated Amortization Trade name Indefinite $ 148,000 $ — Dealer network 12.0 80,500 331 Backlog 0.5 18,000 1,639 Non-compete agreements 4.0 4,600 69 Leasehold interest-favorable 8.1 2,000 12 Total 253,100 $ 2,051 Accumulated amortization (2,051 ) Net book value of intangible assets $ 251,049
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Remaining estimated aggregate annual amortization expense by fiscal year is as follows: (in thousands) Amount Remainder of 2017 $ 22,610 2018 7,854 2019 7,733 2020 7,733 2021 7,733 2022 7,106 Thereafter 42,280
Business Acquisition, Pro Forma Information [Table Text Block]	The following table provides net revenues and operating income (which includes amortization expense) from the Grand Design business included in our consolidated results during the three months ended November 26, 2016 following the November 8, 2016 closing date: Three Months Ended (in thousands) November 26, 2016 Net revenues $ 25,836 Operating income 760 Unaudited pro forma information for the three months ended November 26, 2016 and November 28, 2015 is as follows: Three Months Ended (In thousands, except per share data) November 26, November 28, Net revenues $ 340,975 $ 300,383 Net income 20,269 1,197 Income per share - basic 0.64 0.04 Income per share - diluted 0.64 0.04 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: Three Months Ended (In thousands) November 26, November 28, Amortization of intangibles (1 year or less useful life) $ (1,941 ) $ 8,708 Increase in amortization of intangibles 1,551 1,933 Expenses related to business combination (transaction costs) (1) (5,519 ) 5,840 Interest to reflect new debt structure 3,672 4,958 Taxes related to the adjustments to the pro forma data and to the income of Grand Design 5,011 (4,323 )

Business Segments (Tables)

Business Segments (Tables)	3 Months Ended
	Nov. 26, 2016
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following table shows information by reporting segment for the first quarter of Fiscal 2017 and Fiscal 2016 : Three Months Ended (In thousands) November 26, November 28, Net revenues Motorized $ 195,125 $ 197,340 Towable 50,183 16,883 Consolidated $ 245,308 $ 214,223 Adjusted EBITDA Motorized $ 10,015 $ 11,724 Towable 4,664 1,060 Consolidated $ 14,679 $ 12,784 Capital Expenditures Motorized $ 3,146 $ 2,872 Towable 416 237 Consolidated $ 3,562 $ 3,109 Total Assets Motorized $ 307,125 $ 329,081 Towable 575,570 25,251 Consolidated $ 882,695 $ 354,332 Reconciliation of net income to consolidated Adjusted EBITDA: Three Months Ended (In thousands) November 26, November 28, Net income $ 11,738 $ 8,558 Interest expense 1,128 — Provision for income taxes 5,620 4,336 Depreciation 1,580 1,370 Amortization of intangible assets 2,051 — EBITDA 22,117 14,264 Postretirement health care benefit income (12,813 ) (1,345 ) Transaction costs 5,462 — Non-operating income (87 ) (135 ) Adjusted EBITDA $ 14,679 $ 12,784

Investments and Fair Value Me26

Investments and Fair Value Measurements (Tables)	3 Months Ended
	Nov. 26, 2016
Fair Value Disclosures [Abstract]
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	The following tables set forth by level within the fair value hierarchy our financial assets that were accounted for at fair value on a recurring basis at November 26, 2016 and August 27, 2016 according to the valuation techniques we used to determine their fair values: Fair Value Measurements Using Inputs Considered As (In thousands) Fair Value at Level 1 Quoted Prices in Active Markets for Identical Assets Level 2 Significant Other Observable Inputs Level 3 Significant Unobservable Inputs Cash equivalents (1) $ — $ — $ — $ — Assets that fund deferred compensation: Domestic equity funds 3,482 3,395 87 — International equity funds 243 203 40 — Fixed income funds 272 201 71 — Total assets at fair value $ 3,997 $ 3,799 $ 198 $ — Fair Value Measurements Using Inputs Considered As (In thousands) Fair Value at Level 1 Quoted Prices in Active Markets for Identical Assets Level 2 Significant Other Observable Inputs Level 3 Significant Unobservable Inputs Cash equivalents (1) $ 77,234 $ 77,234 $ — $ — Assets that fund deferred compensation: Domestic equity funds 3,587 3,515 72 — International equity funds 258 225 33 — Fixed income funds 265 206 59 — Total assets at fair value $ 81,344 $ 81,180 $ 164 $ —

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Nov. 26, 2016
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]	Inventories consist of the following: (In thousands) November 26, August 27, Finished goods $ 41,175 $ 19,129 Work-in-process 76,569 76,350 Raw materials 71,698 60,740 Total 189,442 156,219 LIFO reserve (33,996 ) (33,697 ) Total inventories $ 155,446 $ 122,522

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	3 Months Ended
	Nov. 26, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment [Table Text Block]	Property, plant and equipment is stated at cost, net of accumulated depreciation and consists of the following: (In thousands) November 26, August 27, Land $ 4,047 $ 3,864 Buildings and building improvements 69,329 62,073 Machinery and equipment 98,285 95,087 Software 17,396 15,878 Transportation 9,153 8,956 Total property, plant and equipment, gross 198,210 185,858 Less accumulated depreciation (131,507 ) (129,927 ) Total property, plant and equipment, net $ 66,703 $ 55,931

Warranty (Tables)

Warranty (Tables)	3 Months Ended
	Nov. 26, 2016
Product Warranties Disclosures [Abstract]
Schedule of Product Warranty Liability [Table Text Block]	Changes in our product warranty liability are as follows: Three Months Ended (In thousands) November 26, November 28, Balance at beginning of period $ 12,412 $ 11,254 Provision 3,898 3,594 Claims paid (4,663 ) (3,263 ) Acquisition of Grand Design 12,904 — Balance at end of period $ 24,551 $ 11,585

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Nov. 26, 2016
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The components of long-term debt are as follows: (In thousands) November 26, August 27, ABL $ 53,000 $ — Term Loan 300,000 — 353,000 — Less: debt issuance cost, net (10,680 ) — 342,320 — Less: current maturities (7,578 ) — Long-term debt, less current maturities $ 334,742 $ —
Schedule of Maturities of Long-term Debt	Aggregate contractual maturities of debt in future fiscal years, are as follows: (In thousands) Amount Year: 2017 $ 6,000 2018 14,250 2019 15,000 2020 15,000 2021 15,000 2022 68,000 2023 15,000 2024 204,750 Total debt $ 353,000

Employee and Retiree Benefits (

Employee and Retiree Benefits (Tables)	3 Months Ended
	Nov. 26, 2016
Compensation and Retirement Disclosure [Abstract]
Schedule of Amounts Recognized in Balance Sheet [Table Text Block]	Postretirement health care and deferred compensation benefits are as follows: (In thousands) November 26, August 27, Postretirement health care benefit cost $ 32 $ 6,346 Non-qualified deferred compensation 17,616 18,003 Executive share option plan liability 3,181 3,341 SERP benefit liability 2,701 2,681 Executive deferred compensation 467 389 Officer stock-based compensation 657 763 Total deferred compensation and postretirement health care benefits 24,654 31,523 Less current portion (4,693 ) (4,574 ) Long-term deferred compensation and postretirement health care benefits $ 19,961 $ 26,949
Schedule of Postretirement Plan Amendments [Table Text Block]	Date Event Dollar Cap Reduction Liability Reduction (In thousands) Amortization Period (1) Fiscal 2005 Established employer dollar caps $ 40,414 11.5 years January 2012 Reduced employer dollar caps 10% 4,598 7.8 years January 2013 Reduced employer dollar caps 10% 4,289 7.5 years January 2014 Reduced employer dollar caps 10% 3,580 7.3 years January 2015 Reduced employer dollar caps 10% 3,960 7.1 years January 2016 Reduced employer dollar caps for retirees under age 65; discontinued retiree benefits for retirees age 65 and over 10% 28,596 6.9 years January 2017 (2) Terminated plan 6,338 0.2 years (1) Plan amendments are amortized on a straight-line basis over the expected remaining service period of active plan participants. (2) In accordance with ASC 715, the effects of the plan amendment are accounted for at the date the amendment is adopted and the date the amendment has been communicated to plan participants. The effective date for this plan amendment was October 26, 2016.
Schedule of Net Benefit Costs [Table Text Block]	Net periodic postretirement benefit income consisted of the following components: Three Months Ended (In thousands) November 26, November 28, Interest cost $ 29 $ 153 Service cost 16 41 Amortization of prior service benefit (20,772 ) (1,713 ) Amortization of net actuarial loss 7,959 368 Net periodic postretirement benefit income $ (12,768 ) $ (1,151 ) Payments for postretirement health care $ 53 $ 228

Contingent Liabilites and Com32

Contingent Liabilites and Commitments (Tables)	3 Months Ended
	Nov. 26, 2016
Commitments and Contingencies Disclosure [Abstract]
Schedule of Repurchase Agreements [Table Text Block]	purchase activity is as follows: Three Months Ended (In thousands) November 26, November 28, Inventory repurchased $ — $ — Cash collected on resold inventory $ — $ 36 Gain realized on resold inventory $ — $ (1 )
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	Future commitments under these related party leases are as follows: (In thousands) Amount Year Ended: 2017 $ 1,450 2018 2,181 2019 2,084 2020 2,084 2021 2,084 Thereafter 6,994 Total $ 16,877

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Nov. 26, 2016
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The following table reflects the calculation of basic and diluted net income per share: Three Months Ended (In thousands, except per share data) November 26, November 28, Income per share - basic Net income $ 11,738 $ 8,558 Weighted average shares outstanding 27,836 26,976 Net income per share - basic $ 0.42 $ 0.32 Income per share - assuming dilution Net income $ 11,738 $ 8,558 Weighted average shares outstanding 27,836 26,976 Dilutive impact of awards and options outstanding 133 91 Weighted average shares and potential dilutive shares outstanding 27,969 27,067 Net income per share - assuming dilution $ 0.42 $ 0.32

Comprehensive Income (Loss) (Ta

Comprehensive Income (Loss) (Tables)	3 Months Ended
	Nov. 26, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Changes in defined benefit pension items in AOCI, net of tax, were: Three Months Ended (In thousands) November 26, November 28, Balance at beginning of period $ 10,975 $ (2,274 ) OCI before reclassifications 3,903 17,701 Amounts reclassified from AOCI (7,926 ) (829 ) Net current-period OCI (4,023 ) 16,872 Balance at end of period $ 6,952 $ 14,598
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	Reclassifications out of AOCI in net periodic benefit costs, net of tax, were: Three Months Ended (In thousands) Location on Consolidated Statements of Income and Comprehensive Income November 26, November 28, Amortization of prior service credit Operating expenses $ (12,858 ) $ (1,060 ) Amortization of net actuarial loss Operating expenses 4,932 231 Total reclassifications $ (7,926 ) $ (829 )

Basis of Presentation Accountin

Basis of Presentation Accounting Policiies (Details) - USD ($) $ in Thousands	Nov. 08, 2016	Nov. 26, 2016
Intangible Assets, Debt Issuance Costs and New Accounting Pronouncements [Line Items]
Debt issuance costs		$ 10,800
Debt issuance costs, net, current		1,400
Debt issuance costs, net, long-term		9,300
ABL | JPMorgan Chase [Member] | Line of Credit [Member]
Intangible Assets, Debt Issuance Costs and New Accounting Pronouncements [Line Items]
Debt issuance costs		800
Debt instrument, term	5 years
Term Loan | JPMorgan Chase [Member] | Line of Credit [Member]
Intangible Assets, Debt Issuance Costs and New Accounting Pronouncements [Line Items]
Debt issuance costs		$ 10,000
Debt instrument, term	7 years
Trade Names [Member] | Grand Design [Member]
Intangible Assets, Debt Issuance Costs and New Accounting Pronouncements [Line Items]
Fair value of indefinite-lived intangible assets acquired	$ 148,000
Distribution Rights [Member] | Grand Design [Member]
Intangible Assets, Debt Issuance Costs and New Accounting Pronouncements [Line Items]
Acquired finite-lived intangible assets, weighted average life	12 years

Business Combination, Goodwil36

Business Combination, Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	Nov. 08, 2016	Nov. 26, 2016	Aug. 27, 2016	Nov. 28, 2015
Business Acquisition [Line Items]
Percent of voting interest acquired	10.66%
Goodwill		$ 251,210	$ 1,228
Amortization of intangible assets		$ 2,051		$ 0
Finite-lived intangible assets, remaining amortization period		9 years 9 months 18 days
Acquisition related costs		$ 5,462		$ 0
Grand Design [Member]
Business Acquisition [Line Items]
Member interest held	10.66%
Grand Design [Member]
Business Acquisition [Line Items]
Percent of voting interest acquired	100.00%
Deferred tax liabilities, net	$ 10,300
Goodwill	249,981
Acquisition related costs	$ 5,800	$ 5,500	$ 300
Grand Design Member Interest [Member]
Business Acquisition [Line Items]
Percent of voting interest acquired	89.34%
Blocker Corp [Member]
Business Acquisition [Line Items]
Percent of voting interest acquired	100.00%

Business Combination, Goodwil37

Business Combination, Goodwill and Other Intangible Assets (Details) - Grand Design [Member] $ / shares in Units, $ in Thousands	Nov. 08, 2016USD ($)$ / sharesshares
Business Acquisition [Line Items]
Cash	$ 396,583
Winnebago shares: 4,586,555 at $27.05 per share	124,066
Total	$ 520,649
Shares issued for acquisition | shares	4,586,555
Share price (in dollars per share) | $ / shares	$ 27.05

Business Combination, Goodwil38

Business Combination, Goodwill and Other Intangible Assets - Purchase Price Allocation (Details) - USD ($) $ in Thousands	Nov. 26, 2016	Nov. 08, 2016	Aug. 27, 2016
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Goodwill	$ 251,210		$ 1,228
Grand Design [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash		$ 1,748
Accounts receivable		32,834
Inventories		15,300
Prepaid expenses and other assets		2,161
Property, plant and equipment		8,998
Goodwill		249,981
Other intangible assets		253,100
Total assets acquired		564,122
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Accounts payable		11,151
Accrued compensation		3,615
Product warranties		12,904
Promotional		3,976
Other		1,569
Deferred tax liabilities		10,258
Total liabilities assumed		43,473
Total purchase price		$ 520,649

Business Combination, Goodwil39

Business Combination, Goodwill and Other Intangible Assets - Intangible Assets Acquired (Details) - USD ($) $ in Thousands	Nov. 08, 2016	Nov. 26, 2016
Acquired Indefinite-lived Intangible Assets [Line Items]
Accumulated amortization		$ 2,051
Accumulated amortization		(2,051)
Grand Design [Member]
Acquired Indefinite-lived Intangible Assets [Line Items]
Accumulated amortization		2,051
Fair value of intangible assets acquired	$ 253,100
Accumulated amortization		(2,051)
Intangible assets, net		251,049
Grand Design [Member] | Trade Names [Member]
Acquired Indefinite-lived Intangible Assets [Line Items]
Fair value of indefinite-lived intangible assets acquired	$ 148,000
Distribution Rights [Member] | Grand Design [Member]
Acquired Indefinite-lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets, weighted average life	12 years
Fair value of finite-lived intangible assets acquired	$ 80,500
Accumulated amortization		331
Accumulated amortization		(331)
Order or Production Backlog [Member] | Grand Design [Member]
Acquired Indefinite-lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets, weighted average life	6 months
Fair value of finite-lived intangible assets acquired	$ 18,000
Accumulated amortization		1,639
Accumulated amortization		(1,639)
Noncompete Agreements [Member] | Grand Design [Member]
Acquired Indefinite-lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets, weighted average life	4 years
Fair value of finite-lived intangible assets acquired	$ 4,600
Accumulated amortization		69
Accumulated amortization		(69)
Leases, Acquired-in-Place [Member] | Grand Design [Member]
Acquired Indefinite-lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets, weighted average life	8 years 1 month 6 days
Fair value of finite-lived intangible assets acquired	$ 2,000
Accumulated amortization		12
Accumulated amortization		$ (12)

Business Combination, Goodwil40

Business Combination, Goodwill and Other Intangible Assets - Future Amortization of Intangible Assets (Details) $ in Thousands	Nov. 26, 2016USD ($)
Business Combinations [Abstract]
Remainder of 2017	$ 22,610
2,018	7,854
2,019	7,733
2,020	7,733
2,021	7,733
2,022	7,106
Thereafter	$ 42,280

Business Combination, Goodwil41

Business Combination, Goodwill and Other Intangible Assets - ProForma Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Nov. 26, 2016	Nov. 28, 2015
Grand Design [Member]
Business Acquisition [Line Items]
Revenue since acquisition	$ 25,836
Operating income since acquisition	760
Pro forma net revenues	340,975	$ 300,383
Pro forma net income	$ 20,269	$ 1,197
Pro forma income per share - basic (in dollars per share)	$ 0.64	$ 0.04
Pro forma income per share - diluted (in dollars per share)	$ 0.64	$ 0.04
Amortization of Intangibles (1 Year or Less Useful Life) [Member]
Business Acquisition [Line Items]
Nonrecurring adjustments	$ (1,941)	$ 8,708
Increase in Amortization of Intangibles [Member]
Business Acquisition [Line Items]
Nonrecurring adjustments	1,551	1,933
Expenses Related to Business Combination [Member]
Business Acquisition [Line Items]
Nonrecurring adjustments	(5,519)	5,840
Grand Design Expenses Related to Business Combination [Member]
Business Acquisition [Line Items]
Nonrecurring adjustments	(100)
Interest to Reflect New Debt Structure [Member]
Business Acquisition [Line Items]
Nonrecurring adjustments	3,672	4,958
Taxes Related to the Adjustments to The Pro Forma [Member]
Business Acquisition [Line Items]
Nonrecurring adjustments	$ 5,011	$ (4,323)

Business Segments (Details)

Business Segments (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Nov. 26, 2016USD ($)segment	Nov. 28, 2015USD ($)	Aug. 27, 2016USD ($)segment
Segment Reporting Information [Line Items]
Number of reportable segments | segment	2		1
Revenues	$ 245,308	$ 214,223
Adjusted EBITDA	14,679	12,784
Capital Expenditures	3,562	3,109
Assets	882,695	354,332	$ 390,718
Operating Segments [Member] | Motorized [Member]
Segment Reporting Information [Line Items]
Revenues	195,125	197,340
Adjusted EBITDA	10,015	11,724
Capital Expenditures	3,146	2,872
Assets	307,125	329,081
Operating Segments [Member] | Towable [Member]
Segment Reporting Information [Line Items]
Revenues	50,183	16,883
Adjusted EBITDA	4,664	1,060
Capital Expenditures	416	237
Assets	$ 575,570	$ 25,251

Business Segments - Reconciliat

Business Segments - Reconciliation of Adjusted EBITDA (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 26, 2016	Nov. 28, 2015
Segment Reporting [Abstract]
Net income	$ 11,738	$ 8,558
Interest expense	1,128	0
Provision for taxes	5,620	4,336
Depreciation	1,580	1,370
Amortization of intangible assets	2,051	0
EBITDA	22,117	14,264
Postretirement health care benefit income	(12,813)	(1,345)
Transaction costs	5,462	0
Non-operating income	(87)	(135)
Adjusted EBITDA	$ 14,679	$ 12,784

Concentration Risk (Narrative)

Concentration Risk (Narrative) (Details) - Sales Revenue, Goods, Net [Member] - Customer Concentration Risk [Member]	3 Months Ended
	Nov. 26, 2016	Nov. 28, 2015
Major Customer One [Member]
Concentration Risk [Line Items]
Percent of revenue	13.70%	20.90%
Major Customer Two [Member]
Concentration Risk [Line Items]
Percent of revenue	14.20%	14.20%

Investments and Fair Value Me45

Investments and Fair Value Measurements (Fair Value Inputs) (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Nov. 26, 2016	Aug. 27, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 0	$ 77,234
Domestic equity funds	3,482	3,587
International equity funds	243	258
Fixed income funds	272	265
Total assets at fair value	3,997	81,344
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	77,234
Domestic equity funds	3,395	3,515
International equity funds	203	225
Fixed income funds	201	206
Total assets at fair value	3,799	81,180
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Domestic equity funds	87	72
International equity funds	40	33
Fixed income funds	71	59
Total assets at fair value	198	164
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Domestic equity funds	0	0
International equity funds	0	0
Fixed income funds	0	0
Total assets at fair value	$ 0	$ 0

Inventories (Inventory Schedule

Inventories (Inventory Schedule) (Details) - USD ($) $ in Thousands	Nov. 26, 2016	Aug. 27, 2016
Inventory Disclosure [Abstract]
Finished goods	$ 41,175	$ 19,129
Work-in-process	76,569	76,350
Raw materials	71,698	60,740
Total	189,442	156,219
LIFO reserve	(33,996)	(33,697)
Total inventories	$ 155,446	$ 122,522

Inventories (Narrative) (Detail

Inventories (Narrative) (Details) - USD ($) $ in Thousands	Nov. 26, 2016	Aug. 27, 2016
Inventory Disclosure [Abstract]
Inventory, gross	$ 189,442	$ 156,219
Inventory, LIFO	165,600	149,400
Inventory, FIFO	$ 23,800	$ 6,800

Property, Plant and Equipment48

Property, Plant and Equipment (Property, Plant and Equipment) (Details) - USD ($) $ in Thousands	Nov. 26, 2016	Aug. 27, 2016
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	$ 198,210	$ 185,858
Less accumulated depreciation	(131,507)	(129,927)
Total property, plant and equipment, net	66,703	55,931
Land [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	4,047	3,864
Buildings and building improvements [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	69,329	62,073
Machinery and equipment [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	98,285	95,087
Software [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	17,396	15,878
Transportation [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	$ 9,153	$ 8,956

Property, Plant and Equipment49

Property, Plant and Equipment (Narrative) (Details) - USD ($) $ in Thousands	Nov. 08, 2016	Nov. 26, 2016	Nov. 28, 2015
Property, Plant and Equipment [Line Items]
Payments to acquire property		$ 3,562	$ 3,109
Grand Design [Member]
Property, Plant and Equipment [Line Items]
Payments to acquire property	$ 9,000

Warranty (Schedule of Product W

Warranty (Schedule of Product Warranty Liability) (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 26, 2016	Nov. 28, 2015
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Balance at beginning of period	$ 12,412	$ 11,254
Provision	3,898	3,594
Claims paid	(4,663)	(3,263)
Acquisition of Grand Design	12,904	0
Balance at end of period	$ 24,551	$ 11,585

Long-Term Debt - Components of

Long-Term Debt - Components of Long-Term Debt (Details) - USD ($) $ in Thousands	Nov. 26, 2016	Aug. 27, 2016
Debt Instrument [Line Items]
Long-term debt, gross	$ 353,000	$ 0
Less: debt issuance cost, net	(10,680)	0
Long-term debt	342,320	0
Less: current maturities	(7,578)	0
Long-term debt, less current maturities	334,742	0
Line of Credit [Member] | ABL
Debt Instrument [Line Items]
Long-term debt, gross	53,000	0
Line of Credit [Member] | Term Loan
Debt Instrument [Line Items]
Long-term debt, gross	$ 300,000	$ 0

Long-Term Debt (Details)

Long-Term Debt (Details) $ in Thousands	Dec. 31, 2017	Nov. 08, 2016USD ($)	Mar. 02, 2019	Nov. 26, 2016USD ($)	Nov. 28, 2015USD ($)
Debt Instrument [Line Items]
Debt issuance costs				$ 10,800
Accumulated amortization of debt issuance costs				100
Debt issuance costs, net, current				1,400
Debt issuance costs, net, long-term				9,300
Amortization of debt issuance costs				78	$ 0
Prior Credit Agreement [Member]
Debt Instrument [Line Items]
Amortization of debt issuance costs				$ 100
JPMorgan Chase [Member] | Line of Credit [Member] | ABL
Debt Instrument [Line Items]
Debt, face amount		$ 125,000
ABL agreement, borrowing base, percent of eligible accounts receivable		85.00%
ABL agreement, borrowing base, percent of eligible inventory		75.00%
Effective interest rate				2.40%
Line of credit, unused capacity fee, utilization less than or equal to 50%		0.375%
Line of credit, unused capacity fee, utilization greater than 50%		0.25%
Debt instrument, term		5 years
Debt issuance costs				$ 800
JPMorgan Chase [Member] | Line of Credit [Member] | ABL | Base Rate [Member] | Minimum [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		0.50%
JPMorgan Chase [Member] | Line of Credit [Member] | ABL | Base Rate [Member] | Maximum [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		1.00%
JPMorgan Chase [Member] | Line of Credit [Member] | ABL | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		1.50%
JPMorgan Chase [Member] | Line of Credit [Member] | ABL | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		2.00%
JPMorgan Chase [Member] | Line of Credit [Member] | Term Loan
Debt Instrument [Line Items]
Debt, face amount		$ 300,000
Effective interest rate				5.50%
Debt instrument, term		7 years
Quarterly installment, percent of aggregate principal amount		1.00%
Mandatory prepayments for proceeds of new debt, sale of significant assets or subsidiaries		50.00%
Mandatory prepayments for proceeds of new debt, sale of significant assets or subsidiaries, step down one		25.00%
Mandatory prepayments for proceeds of new debt, sale of significant assets or subsidiaries, step down two		0.00%
Mandatory prepayments for proceeds of new debt, sale of significant assets or subsidiaries, net leverage ratio threshold, step down one		2.5
Mandatory prepayments for proceeds of new debt, sale of significant assets or subsidiaries, net leverage ratio threshold, step down two		2
Incremental term loans, up to		$ 125,000
Fixed charge coverage ratio, minimum		1
Senior secured net leverage ratio, maximum		3.5
Limitation on dividends, redemptions, and other payments on equity		$ 20,000
Limitations on dividends, redemptions and other payments on equity, net leverage ratio threshold		3
Debt issuance costs				$ 10,000
JPMorgan Chase [Member] | Line of Credit [Member] | Term Loan | Interest Rate Swap [Member]
Debt Instrument [Line Items]
Hedging agreement, percent of outstanding principal balance		50.00%
Term of derivative instrument		3 years
Hedging agreement requirement, leverage ratio threshold		2
JPMorgan Chase [Member] | Line of Credit [Member] | Term Loan | Scenario, Forecast [Member]
Debt Instrument [Line Items]
Quarterly installment, percent of aggregate principal amount	1.25%
Senior secured net leverage ratio, maximum			3.25
JPMorgan Chase [Member] | Line of Credit [Member] | Term Loan | Base Rate [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		3.50%
JPMorgan Chase [Member] | Line of Credit [Member] | Term Loan | Base Rate [Member] | Minimum [Member]
Debt Instrument [Line Items]
Base rate floor		2.00%
JPMorgan Chase [Member] | Line of Credit [Member] | Term Loan | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		4.50%
JPMorgan Chase [Member] | Line of Credit [Member] | Letter of Credit [Member]
Debt Instrument [Line Items]
Debt, face amount		$ 10,000

Long-Term Debt - Contractual Ma

Long-Term Debt - Contractual Maturities (Details) - USD ($) $ in Thousands	Nov. 26, 2016	Aug. 27, 2016
Debt Disclosure [Abstract]
2,017	$ 6,000
2,018	14,250
2,019	15,000
2,020	15,000
2,021	15,000
2,022	68,000
2,023	15,000
2,024	204,750
Total debt	$ 353,000	$ 0

Employee and Retiree Benefits54

Employee and Retiree Benefits (Postretirement Health Care and Deferred Compensation Benefits) (Details) - USD ($) $ in Thousands	Nov. 26, 2016	Aug. 27, 2016
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Postretirement health care benefit cost	$ 32	$ 6,346
Non-qualified deferred compensation	17,616	18,003
Executive share option plan liability	3,181	3,341
SERP benefit liability	2,701	2,681
Executive deferred compensation	467	389
Officer stock-based compensation	657	763
Total deferred compensation and postretirement health care benefits	24,654	31,523
Less current portion	(4,693)	(4,574)
Long-term deferred compensation and postretirement health care benefits	$ 19,961	$ 26,949

Employee and Retiree Benefits P

Employee and Retiree Benefits Postretirement Plan Amendments (Details) - USD ($) $ in Thousands	1 Months Ended						12 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Jan. 31, 2015	Jan. 31, 2014	Jan. 31, 2013	Jan. 31, 2012	Aug. 27, 2005
Dollar cap liability reduction		10.00%	10.00%	10.00%	10.00%	10.00%
Liability reduction		$ 28,596	$ 3,960	$ 3,580	$ 4,289	$ 4,598	$ 40,414
Amortization period		6 years 10 months 24 days	7 years 1 month 6 days	7 years 4 months	7 years 6 months	7 years 9 months 20 days	11 years 6 months
Subsequent Event [Member]
Liability reduction	$ 6,338
Amortization period	2 months

Employee and Retiree Benefits56

Employee and Retiree Benefits (Postretirement Benefit Income) (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 26, 2016	Nov. 28, 2015
Compensation and Retirement Disclosure [Abstract]
Interest cost	$ 29	$ 153
Service cost	16	41
Amortization of prior service benfit	(20,772)	(1,713)
Amortization of net actuarial loss	7,959	368
Net periodic postretirement benefit income	(12,768)	(1,151)
Payments for postretirement health care	$ 53	$ 228

Employee and Retiree Benefits57

Employee and Retiree Benefits (Narrative) (Details)	1 Months Ended						3 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Jan. 31, 2015	Jan. 31, 2014	Jan. 31, 2013	Jan. 31, 2012	Nov. 26, 2016
Postretirement health care benefits age requirement before distribution occurs							55 years
Postretirement health care benefits continuous service requirement							15 years
Dollar cap liability reduction		10.00%	10.00%	10.00%	10.00%	10.00%
Postretirement health care retiree age requirement		65 years
Subsequent Event [Member]
Postretirement health care retiree age requirement	65 years

Shareholders' Equity (Narrative

Shareholders' Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	Nov. 08, 2016	Feb. 25, 2017	Nov. 26, 2016	Nov. 28, 2015
Shareholders Equity [Line Items]
Stock-based compensation expense			$ 0.8	$ 0.6
Common stock, dividends, per share, cash paid			$ 0.10	$ 0.10
Oct 11 2016 Grant [Member] | Management [Member] | Restricted Stock [Member]
Shareholders Equity [Line Items]
Issuance of stock (in shares)			97,600
October 13 2015 Grant [Domain] | Management [Member] | Restricted Stock [Member]
Shareholders Equity [Line Items]
Issuance of stock (in shares)				204,200
Subsequent Event [Member]
Shareholders Equity [Line Items]
Common stock, dividends, per share, declared		$ 0.10
Grand Design [Member]
Shareholders Equity [Line Items]
Shares issued for acquisition	4,586,555

Contingent Liabilites and Com59

Contingent Liabilites and Commitments (Schedule of Repurchased Activity) (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 26, 2016	Nov. 28, 2015
Commitments and Contingencies Disclosure [Abstract]
Inventory repurchased, dollars	$ 0	$ 0
Inventory resold, cash collected	0	36
Inventory resold, loss (gain) recognized	$ 0	$ (1)

Contingent Liabilites and Com60

Contingent Liabilites and Commitments (Repurchase Commitments Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 26, 2016	Aug. 27, 2016
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Repurchase agreement term	18 months
Accrued loss on repurchases	$ 1,340	$ 881
Major Customers One and Two [Member]
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Percent of revenue	28.00%
Obligation to Repurchase from Dealers [Member]
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Contingent liability on repurchase agreements	$ 553,100	409,300
State Obligation to Repurchase [Member]
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Contingent liability on repurchase agreements	$ 9,000	$ 7,900

Contingent Liabilites and Com61

Contingent Liabilites and Commitments Lease Commitments (Details) $ in Thousands	Nov. 08, 2016shareholderproperty	Nov. 26, 2016USD ($)
Minimum future lease commitments under noncancelable lease agreements
2,017		$ 1,450
2,018		2,181
2,019		2,084
2,020		2,084
2,021		2,084
Therafter		6,994
Total		$ 16,877
Grand Design [Member]
Business Acquisition [Line Items]
Number of properties acquired | property	2
Grand Design [Member] | Grand Design Facilities [Member]
Business Acquisition [Line Items]
Number of Grand Design shareholders that own the principal facilities | shareholder	3

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) $ in Millions	Nov. 26, 2016USD ($)
Income Tax Disclosure [Abstract]
Unrecognized tax benefits	$ 2.1
Unrecognized tax benefits that would have an impact on effective tax rate	1.6
Unrecognized tax benefits, income tax penalties and interest accrued	$ 0.6

Earnings Per Share (Calculation

Earnings Per Share (Calculation of Basic and Diluted Income Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Nov. 26, 2016	Nov. 28, 2015
Earnings Per Share [Abstract]
Net income	$ 11,738	$ 8,558
Weighted average shares outstanding	27,836	26,976
Net income per share - basic (in dollars per share)	$ 0.42	$ 0.32
Dilutive impact of awards and options outstanding	133	91
Weighted average shares and potential dilutive shares outstanding	27,969	27,067
Net income per share - assuming dilution (in dollars per share)	$ 0.42	$ 0.32

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares	3 Months Ended
	Nov. 26, 2016	Nov. 28, 2015
Employee Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares	44,000	24,000

Comprehensive Income (Loss) Cha

Comprehensive Income (Loss) Changes in AOCI by component (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 26, 2016	Nov. 28, 2015
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	$ 10,975
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Balance at end of period	6,952
Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	10,975	$ (2,274)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
OCI before reclassifications	3,903	17,701
Amounts reclassified from AOCI	(7,926)	(829)
Net current-period OCI	(4,023)	16,872
Balance at end of period	$ 6,952	$ 14,598

Comprehensive Income (Loss) Rec

Comprehensive Income (Loss) Reclassification from AOCI (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 26, 2016	Nov. 28, 2015
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of prior service credit (net of tax)	$ 12,858	$ 1,060
Amortization of net actuarial loss (net of tax)	(4,932)	(231)
Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total reclassifications	(7,926)	(829)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Operating expenses [Member] | Amortization of prior service credit
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of prior service credit (net of tax)	(12,858)	(1,060)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Operating expenses [Member] | Amortization of net actuarial loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of net actuarial loss (net of tax)	$ (4,932)	$ (231)

Subsequent Events (Details)

Subsequent Events (Details)	3 Months Ended
	Feb. 25, 2017$ / shares
Subsequent Event [Member]
Common stock, dividends, per share, declared	$ 0.10