Winnebago Industries (WGO) 10-Q22 Jun 222022 Q3 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	9 Months Ended
Cover Page - shares	May 28, 2022	Jun. 16, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	May 28, 2022
Document Transition Report	false
Entity File Number	001-06403
Entity Registrant Name	WINNEBAGO INDUSTRIES, INC.
Entity Incorporation, State or Country Code	MN
Entity Tax Identification Number	42-0802678
Entity Address, Address Line One	13200 Pioneer Trail
Entity Address, City or Town	Eden Prairie
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55347
City Area Code	952
Local Phone Number	829-8600
Title of each class	Common Stock, $0.50 par value per share
Trading Symbol(s)	WGO
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		31,753,998
Entity Central Index Key	0000107687
Current Fiscal Year End Date	--08-27
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	May 28, 2022	May 29, 2021	May 28, 2022	May 29, 2021
Income Statement [Abstract]
Net revenues	$ 1,458,138	$ 960,737	$ 3,778,609	$ 2,593,754
Cost of goods sold	1,185,174	791,125	3,059,656	2,130,556
Gross profit	272,964	169,612	718,953	463,198
Selling, general, and administrative expenses	88,231	63,586	234,896	165,001
Amortization	8,016	3,590	24,203	10,771
Total operating expenses	96,247	67,176	259,099	175,772
Operating income	176,717	102,436	459,854	287,426
Interest expense, net	10,511	10,229	31,078	30,222
Non-operating loss (income)	11,658	(93)	24,522	(310)
Income before income taxes	154,548	92,300	404,254	257,514
Provision for income taxes	37,326	21,005	96,227	59,728
Net income	$ 117,222	$ 71,295	$ 308,027	$ 197,786
Earnings per common share:
Basic (in dollars per share)	$ 3.62	$ 2.12	$ 9.35	$ 5.89
Diluted (in dollars per share)	$ 3.57	$ 2.05	$ 9.18	$ 5.83
Weighted average common shares outstanding:
Basic (in shares)	32,389	33,552	32,936	33,565
Diluted (in shares)	32,855	34,772	33,559	33,943
Other comprehensive income:
Amortization of net actuarial loss (net of tax of $3, $3, $9, and $9)	$ 10	$ 9	$ 28	$ 26
Comprehensive income	$ 117,232	$ 71,304	$ 308,055	$ 197,812

Consolidated Statements of In_2

Consolidated Statements of Income and Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 28, 2022	May 29, 2021	May 28, 2022	May 29, 2021
Other comprehensive income:
Amortization of net actuarial loss, tax	$ 3	$ 3	$ 9	$ 9

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	May 28, 2022	Aug. 28, 2021
Current assets
Cash and cash equivalents	$ 238,073	$ 434,563
Receivables, less allowance for doubtful accounts ($370 and $307, respectively)	373,639	253,808
Inventories, net	486,100	341,473
Prepaid expenses and other current assets	20,806	29,069
Total current assets	1,118,618	1,058,913
Property, plant, and equipment, net	256,335	191,427
Goodwill	484,176	348,058
Other intangible assets, net	477,603	390,407
Investment in life insurance	29,505	28,821
Operating lease assets	42,327	28,379
Other long-term assets	18,570	16,562
Total assets	2,427,134	2,062,567
Current liabilities
Accounts payable	229,727	180,030
Income taxes payable	10,754	8,043
Accrued expenses:
Accrued compensation	63,966	67,541
Product warranties	127,263	91,222
Self-insurance	20,615	19,296
Promotional	16,191	10,040
Accrued interest and dividends	14,017	10,720
Other current liabilities	53,419	20,384
Total current liabilities	535,952	407,276
Long-term debt, net	541,453	528,559
Deferred income taxes	8,445	13,429
Unrecognized tax benefits	6,346	6,483
Long-term operating lease liabilities	41,195	26,745
Deferred compensation benefits, net of current portion	8,550	9,550
Other long-term liabilities	21,302	13,582
Total liabilities	1,163,243	1,005,624
Contingent liabilities and commitments (Note 11)
Shareholders' equity:
Preferred stock, par value $0.01: 10,000 shares authorized; Zero shares issued and outstanding	0	0
Common stock, par value $0.50: 120,000 shares authorized; 51,776 shares issued and outstanding	25,888	25,888
Additional paid-in capital	252,257	218,490
Retained earnings	1,463,254	1,172,996
Accumulated other comprehensive loss	(463)	(491)
Treasury stock, at cost: 20,067 and 18,713 shares, respectively	(477,045)	(359,940)
Total shareholders' equity	1,263,891	1,056,943
Total liabilities and shareholders' equity	$ 2,427,134	$ 2,062,567

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	May 28, 2022	Aug. 28, 2021
Current assets
Allowance for doubtful accounts	$ 370	$ 307
Shareholders' equity:
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.50	$ 0.50
Common stock, shares authorized (in shares)	120,000,000	120,000,000
Common stock, shares issued (in shares)	51,776,000	51,776,000
Common stock, shares outstanding (in shares)	51,776,000	51,776,000
Treasury stock, at cost, shares (in shares)	20,067,000	18,713,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	May 28, 2022	May 29, 2021
Operating activities
Net income	$ 308,027	$ 197,786
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation	17,031	13,476
Amortization	24,203	10,771
Non-cash interest expense, net	11,225	10,372
Amortization of debt issuance costs	1,849	1,852
Last in, first-out expense	5,878	2,321
Stock-based compensation	12,518	11,719
Deferred income taxes	(4,311)	(765)
Contingent consideration fair value adjustment	24,717	0
Other, net	2,261	(4,412)
Change in operating assets and liabilities, net of assets and liabilities acquired
Receivables, net	(117,391)	(7,384)
Inventories, net	(129,056)	(152,398)
Prepaid expenses and other assets	10,212	1,010
Accounts payable	41,610	40,817
Income taxes and unrecognized tax benefits	4,023	(12,771)
Accrued expenses and other liabilities	32,449	35,560
Net cash provided by operating activities	245,245	147,954
Investing activities
Purchases of property, plant, and equipment	(63,228)	(23,596)
Acquisition of business, net of cash acquired	(228,159)	0
Proceeds from the sale of property, plant, and equipment	113	12,450
Other, net	(60)	(224)
Net cash used in investing activities	(291,334)	(11,370)
Financing activities
Borrowings on long-term debt	3,422,539	2,629,932
Repayments on long-term debt	(3,422,539)	(2,629,932)
Payments of cash dividends	(18,052)	(12,136)
Payments for repurchases of common stock	(134,243)	(12,109)
Payments of debt issuance costs	0	(224)
Other, net	1,894	1,151
Net cash used in financing activities	(150,401)	(23,318)
Net (decrease)/increase in cash and cash equivalents	(196,490)	113,266
Cash and cash equivalents at beginning of period	434,563	292,575
Cash and cash equivalents at end of period	238,073	405,841
Supplemental Disclosures
Income taxes paid, net	97,717	71,090
Interest paid	14,271	14,618
Non-cash investing and financing activities
Issuance of common stock for acquisition of business	22,000	0
Issuance of stock for settlement of earnout liability	13,168	0
Capital expenditures in accounts payable	4,668	121
Dividends declared not yet paid	6,214	4,273
Increase (decrease) in lease assets in exchange for lease liabilities:
Operating leases	17,236	1,633
Finance leases	$ 2,528	$ (10)

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Shares	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock
Beginning balance (in shares) at Aug. 29, 2020		51,776
Beginning balance at Aug. 29, 2020	$ 827,466	$ 25,888	$ 203,791	$ 913,610	$ (526)	$ (315,297)
Treasury stock, beginning balance (in shares) at Aug. 29, 2020						(18,133)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	11,719		11,701			$ 18
Stock-based compensation (in shares)						1
Issuance of stock for acquisition	1,599		(1,032)			$ 2,631
Issuance of stock for settlement of earnout liability	0
Issuance of stock, net (in shares)						149
Repurchase of common stock (in shares)						(242)
Repurchase of common stock	(12,109)					$ (12,109)
Common stock dividends	(16,229)			(16,229)
Total comprehensive income	26				26
Net income	197,786
Ending balance (in shares) at May. 29, 2021		51,776
Ending balance at May. 29, 2021	1,010,258	$ 25,888	214,460	1,095,167	(500)	$ (324,757)
Treasury stock, ending balance (in shares) at May. 29, 2021						(18,225)
Beginning balance (in shares) at Feb. 27, 2021		51,776
Beginning balance at Feb. 27, 2021	942,364	$ 25,888	209,727	1,032,020	(509)	$ (324,762)
Treasury stock, beginning balance (in shares) at Feb. 27, 2021						(18,225)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	4,738		4,733			$ 5
Stock-based compensation (in shares)						0
Common stock dividends	(8,148)			(8,148)
Total comprehensive income	9				9
Net income	71,295			71,295
Ending balance (in shares) at May. 29, 2021		51,776
Ending balance at May. 29, 2021	$ 1,010,258	$ 25,888	214,460	1,095,167	(500)	$ (324,757)
Treasury stock, ending balance (in shares) at May. 29, 2021						(18,225)
Beginning balance (in shares) at Aug. 28, 2021	51,776	51,776
Beginning balance at Aug. 28, 2021	$ 1,056,943	$ 25,888	218,490	1,172,996	(491)	$ (359,940)
Treasury stock, beginning balance (in shares) at Aug. 28, 2021						(18,713)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	12,518		12,445			$ 73
Stock-based compensation (in shares)						3
Issuance of stock for acquisition (in shares)	22,000		14,709			$ 7,291
Issuance of stock for acquisition (in shares)						379
Issuance of stock for acquisition	2,537		(1,899)			$ 4,436
Issuance of stock for settlement of earnout liability	13,168		7,830			$ 5,338
Issuance of stock for settlement of earnout liability (in shares)						244
Issuance of stock, net (in shares)						225
Repurchase of common stock (in shares)						(2,205)
Repurchase of common stock	(134,243)					$ (134,243)
Common stock dividends	(17,857)			(17,857)
Other	770		682	88
Total comprehensive income	28				28
Net income	$ 308,027			308,027
Ending balance (in shares) at May. 28, 2022	51,776	51,776
Ending balance at May. 28, 2022	$ 1,263,891	$ 25,888	252,257	1,463,254	(463)	$ (477,045)
Treasury stock, ending balance (in shares) at May. 28, 2022						(20,067)
Beginning balance (in shares) at Feb. 26, 2022		51,776
Beginning balance at Feb. 26, 2022	1,208,987	$ 25,888	238,159	1,357,812	(473)	$ (412,399)
Treasury stock, beginning balance (in shares) at Feb. 26, 2022						(19,045)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	5,627		5,586			$ 41
Stock-based compensation (in shares)						2
Issuance of stock for settlement of earnout liability	13,168		7,830			$ 5,338
Issuance of stock for settlement of earnout liability (in shares)						244
Repurchase of common stock (in shares)						(1,268)
Repurchase of common stock	(70,025)					$ (70,025)
Common stock dividends	(11,797)			(11,797)
Other	699		682	17
Total comprehensive income	10				10
Net income	$ 117,222			117,222
Ending balance (in shares) at May. 28, 2022	51,776	51,776
Ending balance at May. 28, 2022	$ 1,263,891	$ 25,888	$ 252,257	$ 1,463,254	$ (463)	$ (477,045)
Treasury stock, ending balance (in shares) at May. 28, 2022						(20,067)

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	May 28, 2022	May 29, 2021	May 28, 2022	May 29, 2021
Statement of Stockholders' Equity [Abstract]
Common stock dividends (in dollars per share)	$ 0.36	$ 0.24	$ 0.54	$ 0.48

Basis of Presentation

Basis of Presentation	9 Months Ended
Basis of Presentation	May 28, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The consolidated financial statements include the accounts of Winnebago Industries, Inc. and its wholly owned subsidiaries. Significant intercompany account balances and transactions have been eliminated. The use of the terms "Winnebago Industries," "Winnebago," "we," "our," and "us" in this Quarterly Report on Form 10-Q, unless the context otherwise requires, refers to Winnebago Industries, Inc. and its wholly owned subsidiaries. The interim unaudited consolidated financial statements included herein are prepared pursuant to the rules and regulations of the United States (“U.S.”) Securities and Exchange Commission (“SEC”). The information furnished in these consolidated financial statements includes normal recurring adjustments, unless noted otherwise in the Notes to Consolidated Financial Statements, and reflects all adjustments that are, in management’s opinion, necessary for a fair presentation of such financial statements. The consolidated financial statements are prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”). GAAP requires us to make estimates and assumptions that affect amounts reported. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to SEC rules and regulations. The consolidated financial statements included in this Quarterly Report on Form 10-Q should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended August 28, 2021 filed with the SEC. Interim results of operations are not necessarily indicative of the results to be expected for the full fiscal year ending August 27, 2022. Subsequent Events In preparing the accompanying unaudited consolidated financial statements, we have evaluated subsequent events for potential recognition and disclosure through the date of this filing noting no material subsequent events. CARES Act The Coronavirus Aid, Relief, and Economic Security ("CARES") Act was signed into law on March 27, 2020 to help alleviate the impact of the COVID-19 pandemic in the U.S. We took advantage of the employer payroll tax deferral offered by the CARES Act, which allowed us to defer the payment of employer payroll taxes for the period from March 27, 2020 to December 31, 2020. The deferred employer payroll tax liability paid in the first nine months of Fiscal 2022 was $8.0 million and the liability left to pay as of May 28, 2022 was $8.2 million, which will be paid in December 2022. We also took advantage of a tax credit granted to companies under the CARES Act who continued to pay their employees when operations were fully or partially suspended. The refundable tax credit available through the end of the third quarter of Fiscal 2020 reflected in cost of goods sold on the Consolidated Statements of Income and Comprehensive Income was approximately $4.0 million. The entire amount is expected to be received during calendar year 2022. As of May 28, 2022, $0.8 million remains outstanding within other current assets on the Consolidated Balance Sheets. Recently Adopted Accounting Pronouncements Accounting Standards Update ("ASU") Topic 740, Income Taxes: Simplifying the Accounting for Income Taxes , was adopted in the first quarter of Fiscal 2022. The new standard eliminates certain exceptions to Topic 740's general principles, improves consistent application and simplifies its application. We adopted the new guidance in the first quarter of Fiscal 2022, and there was not a material impact to our financial condition, results of operations or disclosures. Recently Issued Accounting Pronouncements In August 2020, the Financial Accounting Standards Board ("FASB") issued ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40) which reduces the number of models used to account for convertible instruments, amends diluted earnings per share ("EPS") calculations for convertible instruments, and amends the requirements for a contract (or embedded derivative) that is potentially settled in an entity's own shares to be classified in equity. Certain disclosure requirements were also added to increase transparency and decision-usefulness regarding a convertible instrument's terms and features. Additionally, the if-converted method for including convertible instruments must be used in diluted EPS as opposed to the treasury stock method. The new guidance is effective for annual reporting periods beginning after December 15, 2021, which is our Fiscal 2023. We will adopt the new guidance in the first quarter of Fiscal 2023 and expect the new guidance will increase our net long-term debt and decrease our total equity, as well as change our reported diluted EPS. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of Effects of Reference Rate Reform on Financial Reporting , which provides practical expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The expedients and exceptions provided by this guidance apply only to contracts, hedging relationships, and other transactions that reference the London interbank offered rate (“LIBOR”) or another reference rate expected to be discontinued as a result of reference rate reform. This guidance is not applicable to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022. The guidance can be applied immediately through December 31, 2022. We will adopt this standard when LIBOR is discontinued and do not expect a material impact to our financial condition, results of operations or disclosures based on the current debt portfolio and capital structure.

Business Combinations

Business Combinations	9 Months Ended
Business Combinations	May 28, 2022
Business Combination and Asset Acquisition [Abstract]
Business Combinations	Business Combinations On August 31, 2021, we purchased 100% of the equity interests of Barletta Boat Company, LLC and Three Limes, LLC (collectively, "Barletta"), a manufacturer of high-quality, premium pontoon boats that are sold through a network of independent authorized dealers. The acquisition of Barletta resulted in a newly created Marine reportable segment that includes the Barletta and Chris-Craft operating segments. We acquired Barletta for a purchase price of $286.3 million, including cash payments of $240.1 million, $25.0 million in common stock issued to the sellers (subject to a discount noted below), and contingent consideration from earnout provisions. The common stock fair value included in the purchase price reflects a 12% discount, due to the lack of marketability as these are unregistered shares that have a one-year lockup restriction, which reduced the value of the common stock to $22.0 million. The contingent consideration includes both a potential stock payout as well as a potential cash payment based on achievement of certain financial performance metrics over the next few years. The maximum payout under the earnout is $50.0 million in cash and $15.0 million in stock if all metrics are achieved. The fair value of the earnout as of August 31, 2021 was $24.2 million. The fair value of the earnout as of May 28, 2022 was $35.1 million, of which $20.9 million is included in other current liabilities and $14.2 million is included in other long-term liabilities on the Consolidated Balance Sheets. In the third quarter of Fiscal 2022, we issued 0.2 million shares of common stock in connection with the settlement of the 2021 earnout period obligation. The total purchase price was allocated to the acquired net tangible and intangible assets of Barletta, based on their preliminary fair values at the date of the acquisition. We finalized the allocation of the purchase price in the third quarter of fiscal 2022. The following table summarizes the fair values assigned to the Barletta net assets acquired as of the date of acquisition: (in thousands) August 31, 2021 Cash $ 11,903 Other current assets 24,564 Property, plant, and equipment 17,250 Goodwill 136,118 Other intangible assets 111,400 Total assets acquired 301,235 Accounts payable 7,181 Product warranties 4,656 Other current liabilities 3,146 Total liabilities assumed 14,983 Total purchase price $ 286,252 Goodwill from the Barletta acquisition is recognized in our newly created Marine segment. We expect that the full amount of goodwill will be deductible for tax purposes. The intangible assets acquired include a trade name, dealer network, and backlog. The trade name has an indefinite life, while the backlog and dealer network will be amortized on a straight line basis over 10 months and 12 years, respectively. Total transaction costs related to the Barletta acquisition were $3.1 million, of which $2.4 million were expensed during the first quarter of Fiscal 2022 and $0.7 million were expensed during the fourth quarter of Fiscal 2021. Transaction costs are included in selling, general and administrative expenses in the accompanying Consolidated Statements of Income and Comprehensive Income.

Business Segments

Business Segments	9 Months Ended
Business Segments	May 28, 2022
Segment Reporting [Abstract]
Business Segments	Business Segments We have seven operating segments: 1) Grand Design towables, 2) Winnebago towables, 3) Winnebago motorhomes, 4) Newmar motorhomes, 5) Chris-Craft marine, 6) Barletta marine and 7) Winnebago specialty vehicles. Financial performance is evaluated based on each operating segment's Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA"), as defined below, which excludes certain corporate administration expenses and non-operating income and expense. The acquisition of Barletta resulted in a newly created Marine reportable segment effective for the first quarter of Fiscal 2022. The segment consists of Barletta and our existing Chris-Craft operating segment. Prior year amounts for Chris-Craft have been reclassified from Corporate / All Other category to the Marine segment. Our three reportable segments are: Towable (an aggregation of the Grand Design towables and the Winnebago towables operating segments); Motorhome (an aggregation of the Winnebago motorhomes and Newmar motorhomes operating segments); and Marine (an aggregation of the Chris Craft marine and Barletta marine operating segments). Towable is comprised of non-motorized products that are generally towed by another vehicle, along with other related manufactured products and services. Motorhome is comprised of products that include a motorized chassis, along with other related manufactured products and services. Marine is comprised of products that include boats, along with other manufactured products and services. The Corporate / All Other category includes the Winnebago specialty vehicles operating segment as well as certain corporate administration expenses related to the oversight of the enterprise, such as corporate leadership and administration costs. Identifiable assets of the reportable segments exclude general corporate assets, which principally consist of cash and cash equivalents and certain deferred tax balances. The general corporate assets are included in the Corporate / All Other category. Our Chief Executive Officer (the Chief Operating Decision Maker ("CODM")) regularly reviews consolidated financial results in their entirety and operating segment financial information through Adjusted EBITDA and has ultimate responsibility for enterprise decisions. Our CODM is responsible for allocating resources and assessing performance of the consolidated enterprise, reportable segments and between operating segments. Management of each operating segment has responsibility for operating decisions, allocating resources and assessing performance within their respective operating segment. The accounting policies of all reportable segments are the same as those described in Note 1 to the Consolidated Financial Statements included in Item 8 of Part II of our Annual Report on Form 10-K for the fiscal year ended August 28, 2021. We monitor and evaluate operating performance of our reportable segments based on Adjusted EBITDA. We believe disclosing Adjusted EBITDA is useful to securities analysts, investors and other interested parties when evaluating companies in our industries. EBITDA is defined as net income before interest expense, provision for income taxes, and depreciation and amortization expense. Adjusted EBITDA is defined as net income before interest expense, provision for income taxes, depreciation and amortization expense, and other pretax adjustments made in order to present comparable results period over period. Examples of items excluded from Adjusted EBITDA include acquisition-related costs, litigation reserves, restructuring expenses, gain or loss on sale of property, plant and equipment, contingent consideration fair value adjustment, and non-operating income or loss. Financial information by reportable segment is as follows: Three Months Ended Nine Months Ended (in thousands) May 28, May 29, May 28, May 29, Net Revenues Towable $ 805,567 $ 555,749 $ 2,103,192 $ 1,449,934 Motorhome 516,345 385,257 1,355,389 1,090,221 Marine 126,548 17,170 303,175 43,527 Corporate / All Other 9,678 2,561 16,853 10,072 Consolidated $ 1,458,138 $ 960,737 $ 3,778,609 $ 2,593,754 Adjusted EBITDA Towable $ 117,767 $ 80,130 $ 330,417 $ 205,639 Motorhome 64,388 37,467 160,636 118,779 Marine 19,813 1,624 43,336 3,502 Corporate / All Other (10,247) (9,447) (24,707) (20,888) Consolidated $ 191,721 $ 109,774 $ 509,682 $ 307,032 Capital Expenditures Towable $ 12,621 $ 4,639 $ 33,960 $ 11,490 Motorhome 570 2,976 16,196 10,247 Marine 6,041 1,061 8,581 1,859 Corporate / All Other 570 — 4,491 — Consolidated $ 19,802 $ 8,676 $ 63,228 $ 23,596 (in thousands) May 28, August 28, Assets Towable $ 913,892 $ 790,257 Motorhome 857,636 728,060 Marine 404,137 102,901 Corporate / All Other 251,469 441,349 Consolidated $ 2,427,134 $ 2,062,567 Reconciliation of net income to consolidated Adjusted EBITDA is as follows: Three Months Ended Nine Months Ended (in thousands) May 28, 2022 May 29, 2021 May 28, 2022 May 29, 2021 Net income $ 117,222 $ 71,295 $ 308,027 $ 197,786 Interest expense, net 10,511 10,229 31,078 30,222 Provision for income taxes 37,326 21,005 96,227 59,728 Depreciation 6,264 4,917 17,031 13,476 Amortization 8,016 3,590 24,203 10,771 EBITDA 179,339 111,036 476,566 311,983 Acquisition-related costs 724 — 4,594 — Litigation reserves — — 4,000 — Restructuring expenses — 19 — 112 Gain on sale of property, plant and equipment — (1,188) — (4,753) Contingent consideration fair value adjustment 11,830 — 24,717 — Non-operating income (172) (93) (195) (310) Adjusted EBITDA $ 191,721 $ 109,774 $ 509,682 $ 307,032

Investments and Fair Value Meas

Investments and Fair Value Measurements	9 Months Ended
Investments and Fair Value Measurements	May 28, 2022
Fair Value Disclosures [Abstract]
Investments and Fair Value Measurements	Investments and Fair Value Measurements In determining the fair value of financial assets and liabilities, we utilize market data or other assumptions that we believe market participants would use in pricing the asset or liability in the principal or most advantageous market and adjust for non-performance and/or other risks associated with us as well as counterparties, as appropriate. Assets and liabilities measured at fair value are classified using the following hierarchy, which is based upon the transparency of inputs to the valuation as of the measurement date: Level 1 — Unadjusted quoted prices which are available in active markets for identical assets or liabilities accessible at the measurement date. Level 2 — Inputs other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability. Level 3 — Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date. Assets and Liabilities that are Measured at Fair Value on a Recurring Basis Financial assets and liabilities measured at fair value on a recurring basis are as follows: Fair Value at Fair Value Hierarchy (in thousands) May 28, Level 1 Level 2 Level 3 Assets that fund deferred compensation Domestic equity funds $ 1,206 $ 1,206 $ — $ — International equity funds 61 61 — — Fixed income funds 183 183 — — Total assets at fair value $ 1,450 $ 1,450 $ — $ — Contingent consideration Earnout liability $ 35,147 $ — $ — $ 35,147 Total liabilities at fair value $ 35,147 $ — $ — $ 35,147 Fair Value at Fair Value Hierarchy (in thousands) August 28, Level 1 Level 2 Level 3 Assets that fund deferred compensation Domestic equity funds $ 940 $ 940 $ — $ — International equity funds 41 41 — — Fixed income funds 46 46 — — Total assets at fair value $ 1,027 $ 1,027 $ — $ — 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. These securities, used to fund the Executive Share Option Plan and the Executive Deferred Compensation Plan, are classified as Level 1 as they are traded in an active market for which closing stock prices are readily available. Refer to Note 11 of the Notes to the Consolidated Financial Statements included in Item 8 of Part II of our Annual Report on Form 10-K for the fiscal year ended August 28, 2021 for additional information regarding these plans. The proportion of the assets that will fund options which expire within a year are included in prepaid expenses and other assets on the Consolidated Balance Sheets. The remaining assets are classified as non-current and are included in other assets on the Consolidated Balance Sheets. Contingent Consideration Contingent consideration represents the earnout liability related to the Barletta acquisition and is valued using a probability-weighted scenario analysis of projected gross profit results and discounted at a risk-free rate. The contingent consideration is classified as Level 3. Actual gross profit results may differ significantly from those used in the estimate above, which may affect future payments. Changes in future payments will be reflected in future operating results as they occur. The following table provides a reconciliation of the beginning and ending balances of the contingent consideration: Three Months Ended Nine Months Ended (in thousands) May 28, May 29, May 28, May 29, Beginning fair value - contingent consideration $ 37,077 $ — $ — $ — Additions — — 24,190 — Fair value adjustments 11,830 — 24,717 — Settlements (13,168) — (13,168) — Other $ (592) $ — $ (592) $ — Ending fair value - contingent consideration $ 35,147 $ — $ 35,147 $ — The fair value of the earnout liability that will be settled within a year is included in other current liabilities on the Consolidated Balance Sheets. The remaining earnout liability is included in other long-term liabilities on the Consolidated Balance Sheets. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Certain financial instruments are measured at fair value on a nonrecurring basis. These assets primarily include goodwill, intangible assets, property, plant and equipment, and right-of-use lease assets. These assets were originally recognized at amounts equal to the fair value determined at date of acquisition or purchase. If certain triggering events occur, or if an annual impairment test is required, we will evaluate the non-financial asset for impairment. If an impairment has occurred, the asset will be written down to its current estimated fair value. No impairments were recorded for non-financial assets in the three or nine months ended May 28, 2022 or May 29, 2021. Assets and Liabilities Not Measured at Fair Value Certain financial instruments are not measured at fair value but are recorded at carrying amounts approximating fair value based on their short-term nature. These financial instruments include cash and cash equivalents, receivables, accounts payable, other payables, and long-term debt. If these instruments were measured at fair value in the financial statements, they would be classified as Level 1 in the fair value hierarchy. The fair value of our long-term debt was determined using current quoted prices in active markets for our publicly traded debt obligations, which is classified as Level 1 in the fair value hierarchy. See Note 9 for the fair value of our long-term debt.

Inventories

Inventories	9 Months Ended
Inventories	May 28, 2022
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consist of the following: (in thousands) May 28, August 28, Finished goods $ 18,449 $ 12,243 Work-in-process 202,733 184,611 Raw materials 309,760 183,583 Total 530,942 380,437 Less: Excess of FIFO over LIFO cost 44,842 38,964 Inventories, net $ 486,100 $ 341,473 Inventory valuation methods consist of the following: (in thousands) May 28, August 28, LIFO basis $ 216,820 $ 139,544 First-in, first-out basis 314,122 240,893 Total $ 530,942 $ 380,437

Property, Plant, and Equipment

Property, Plant, and Equipment	9 Months Ended
Property, Plant, and Equipment	May 28, 2022
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) May 28, August 28, Land $ 10,697 $ 9,111 Buildings and building improvements 169,781 147,629 Machinery and equipment 130,601 121,911 Software 40,747 36,815 Transportation 6,563 5,335 Construction in progress 72,023 31,137 Property, plant, and equipment, gross 430,412 351,938 Less: Accumulated depreciation 174,077 160,511 Property, plant, and equipment, net $ 256,335 $ 191,427 Depreciation expense was $6.3 million and $4.9 million for the three months ended May 28, 2022 and May 29, 2021, respectively; and $17.0 million and $13.5 million for the nine months ended May 28, 2022 and May 29, 2021, respectively.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
Goodwill and Intangible Assets	May 28, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The changes in the carrying amount of goodwill by reportable segment, with no accumulated impairment losses, for the nine months ended May 28, 2022 and May 29, 2021 are as follows: (in thousands) Towable Motorhome Marine Total Balances at August 29, 2020 and May 29, 2021 (1) $ 244,684 $ 73,127 $ 30,247 $ 348,058 Balances at August 28, 2021 $ 244,684 $ 73,127 $ 30,247 $ 348,058 Acquisition of Barletta (2) — — 136,118 136,118 Balances at May 28, 2022 $ 244,684 $ 73,127 $ 166,365 $ 484,176 (1) There was no activity in the nine months ended May 29, 2021. (2) The change in marine activity is related to the acquisition of Barletta that occurred on August 31, 2021. See Note 2 to the Consolidated Financial Statements included in Item 1 of Part I of this quarterly report on Form 10-Q. Other intangible assets, net of accumulated amortization, consist of the following: May 28, 2022 (in thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Value Trade names $ 352,250 $ — $ 352,250 Dealer networks 179,981 $ 56,801 123,180 Backlog 42,327 40,927 1,400 Non-compete agreements 6,647 5,874 773 Other intangible assets $ 581,205 $ 103,602 $ 477,603 August 28, 2021 (in thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Value Trade names $ 275,250 $ — $ 275,250 Dealer networks 159,581 45,652 113,929 Backlog 28,327 28,327 — Non-compete agreements 6,647 5,419 1,228 Other intangible assets $ 469,805 $ 79,398 $ 390,407 The weig hted average remaining amortization period for intangible assets as of May 28, 2022 was approximatel y 9 years. Estimated future amortization expense related to finite-lived intangible assets is as follows: (in thousands) Amount Remainder of Fiscal 2022 $ 5,216 Fiscal 2023 15,226 Fiscal 2024 15,124 Fiscal 2025 14,919 Fiscal 2026 14,865 Fiscal 2027 14,865 Thereafter 45,138 Total amortization expense remaining $ 125,353

Product Warranties

Product Warranties	9 Months Ended
Product Warranties	May 28, 2022
Product Warranties Disclosures [Abstract]
Product Warranties	Product Warranties We provide certain service and warranty on our products. From time to time, we also voluntarily incur costs for certain warranty-type expenses occurring after the normal warranty period expires to help protect the reputation of our products and maintain the goodwill of our customers. 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. In addition to the costs associated with the contractual warranty coverage provided on products, we also occasionally incur costs as a result of additional service actions not covered by warranties, including product recalls and customer satisfaction actions. Although we estimate and reserve for the cost of these service actions when probable and estimable, there can be no assurance that expense levels will remain at current levels or such reserves will continue to be adequate. Changes in the product warranty liability are as follows: Three Months Ended Nine Months Ended (in thousands) May 28, May 29, May 28, May 29, Balance at beginning of period $ 113,818 $ 76,040 $ 91,222 $ 64,031 Business acquisition (1) — — 4,656 — Provision 37,052 23,056 94,274 64,986 Claims paid (23,607) (17,034) (62,889) (46,955) Balance at end of period $ 127,263 $ 82,062 $ 127,263 $ 82,062 (1) Relates to the acquisition of Barletta on August 31, 2021. See Note 2 to the Consolidated Financial Statements in Item 1 of Part I of this quarterly report on Form 10-Q for additional acquisition information.

Long-Term Debt

Long-Term Debt	9 Months Ended
Long-Term Debt	May 28, 2022
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt consists of the following: (in thousands) May 28, August 28, ABL Credit Facility $ — $ — Senior Secured Notes 300,000 300,000 Convertible Notes 300,000 300,000 Long-term debt, gross 600,000 600,000 Convertible Notes unamortized interest discount (49,141) (60,366) Debt issuance costs, net (9,406) (11,075) Long-term debt, net $ 541,453 $ 528,559 Credit Agreements On July 8, 2020, we closed our private offering (the “Senior Secured Notes Offering”) of $300.0 million aggregate principal amount of 6.25% Senior Secured Notes due 2028 (the “Senior Secured Notes”). The Senior Secured Notes were issued in accordance with an Indenture dated as of July 8, 2020 (the “Indenture”). The Senior Secured Notes will mature on July 15, 2028 unless earlier redeemed or repurchased. Interest on the Senior Secured Notes accrues starting July 8, 2020 and is payable semi-annually in arrears on January 15 and July 15 of each year, which began on January 15, 2021. Debt issuance costs incurred and capitalized are amortized on a straight-line basis over the term of the associated debt agreement. If early principal payments are made on the Senior Secured Notes, a proportional amount of the unamortized debt issuance costs is expensed. As part of the Senior Secured Notes Offering, we capitalized $7.5 million in debt issuance costs that will be amortized over the eight-year term of the agreement. On November 8, 2016, we entered into an asset-based revolving credit agreement ("ABL") and a loan agreement ("Term Loan") with JPMorgan Chase Bank, N.A. ("JPMorgan Chase"), as administrative agent and certain lenders from time to time party thereto. Under the ABL, we have a $192.5 million credit facility that matures on October 22, 2024 (subject to certain factors which may accelerate the maturity date) on a revolving basis, subject to availability under a borrowing base consisting of eligible accounts receivable and eligible inventory. The ABL is available for issuance of letters of credit to a specified limit of $19.3 million. We pay a commitment fee of 0.25% on the average daily amount of the facility available, but unused. We can elect to base the interest rate on various rates plus specific spreads depending on the amount of borrowings outstanding. If drawn, we would pay interest on ABL borrowings at a floating rate based upon a spread between 1.25% and 1.75% plus LIBOR, depending on the usage of the facility during the most recent quarter. Based on current usage, we would pay LIBOR plus 1.25%. Refer to Note 9 of the Notes to the Consolidated Financial Statements included in Item 8 of Part II of our Annual Report on Form 10-K for the fiscal year ended August 28, 2021 for additional information regarding these credit agreements. Convertible Notes On November 1, 2019, we issued $300.0 million in aggregate principal amount of 1.5% unsecured convertible senior notes due 2025 (“Convertible Notes”). The net proceeds from the issuance of the Convertible Notes, after deducting the initial purchasers' transaction fees and offering expense payable by us, were approximately $290.2 million. The Convertible Notes bear interest at the annual rate of 1.5%, payable on April 1 and October 1 of each year, beginning on April 1, 2020, and will mature on April 1, 2025, unless earlier converted or repurchased by us. The Convertible Notes will be convertible into cash, shares of our common stock or a combination thereof, at the election of us, at an initial conversion rate of 15.6906 shares of common stock per $1 thousand principal amount of Convertible Notes, which is equivalent to an initial conversion price of approximately $63.73 per share, as adjusted pursuant to the terms of the indenture governing the Convertible Notes. The Convertible Notes may be converted at any time on or after October 1, 2024, until the close of business on the second scheduled trading day immediately preceding the maturity date. Prior to the close of business on the business day immediately preceding October 1, 2024, the Convertible Notes will be convertible only under the following circumstances: 1. during any calendar quarter commencing after December 31, 2019 if the closing sale price of the common stock is more than 130% of the applicable conversion price on each applicable trading day for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter; 2. during the five consecutive business day period after any five consecutive trading day period (the "measurement period") in which the trading price per $1 thousand principal amount of Convertible Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the common stock and the conversion rate for the Convertible Notes on each such trading day; or 3. upon the occurrence of certain specified corporate events set forth in the Convertible Notes Indenture. We may not redeem the Convertible Notes at our option prior to the maturity date, and no sinking fund is provided for the Convertible Notes. The conversion rate of the Convertible Notes may be adjusted in certain circumstances, including in connection with a conversion of the Convertible Notes made following certain fundamental changes and under other circumstances set forth in the indenture. It is our current intent to settle all conversions of the Convertible Notes in cash. Our ability to cash settle may be limited depending on the stock price at the time of conversion. On October 29, 2019 and October 30, 2019, in connection with the offering of the Convertible Notes, we entered into privately negotiated convertible note hedge transactions (collectively, the “Hedge Transactions”) that cover, subject to customary anti-dilution adjustments, the number of shares of our common stock that initially underlie the Convertible Notes. On October 29, 2019 and October 30, 2019, we also entered into privately negotiated warrant transactions (collectively, the “Warrant Transactions” and, together with the Hedge Transactions, the “Call Spread Transactions”), whereby we sold warrants at a higher strike price relating to the same number of shares of our common stock that initially underlie the Convertible Notes, subject to customary anti-dilution adjustments. The Hedge Transactions and the Warrant Transactions are separate transactions, in each case, and are not part of the terms of the Convertible Notes and will not affect any holder’s rights under the Convertible Notes. Holders of the Convertible Notes will not have any rights with respect to the Call Spread Transactions. Refer to Note 9 of the Notes to the Consolidated Financial Statements included in Item 8 of Part II of our Annual Report on Form 10-K for the fiscal year ended August 28, 2021 for additional information regarding the Convertible Notes and the Call Spread Transactions. Accounting Treatment of the Convertible Notes and Related Hedge Transactions and Warrant Transactions The net cost incurred in connection with the Call Spread Transactions was $11.2 million. These transactions are classified as equity and are not remeasured each reporting period. We bifurcated the proceeds from the offering of the Convertible Notes between liability and equity components. On the date of issuance, the liability and equity components were calculated to be approximately $215.0 million and $85.0 million, respectively. The initial $215.0 million liability component was determined based on the fair value of similar debt instruments excluding the conversion feature assuming a hypothetical interest rate of 8%. The initial $85.0 million ($64.1 million net of tax) equity component represents the difference between the fair value of the initial $215.0 million in debt and the $300.0 million of gross proceeds. The related initial debt discount of $85.0 million is being amortized over the life of the Convertible Notes as non-cash interest expense using the effective interest method. In connection with the above-noted transactions, we incurred approximately $9.8 million of offering-related costs. These offering fees were allocated to the liability and equity components in proportion to the allocation of proceeds and accounted for as debt and equity issuance costs, respectively. We allocated $7.0 million of debt issuance costs to the liability component, which were capitalized as deferred financing costs within long-term debt on the Consolidated Balance Sheets. These costs are being amortized as interest expense over the term of the debt using the effective interest method. The remaining $2.8 million of transaction costs allocated to the equity component were recorded as a reduction of the equity component. Fair Value and Future Maturities As of May 28, 2022 and August 28, 2021, the fair value of long-term debt, gross, was $599.1 million and $726.6 million, respectively. Aggregate contractual maturities of debt in future fiscal years are as follows: (in thousands) Amount Remainder of Fiscal 2022 $ — Fiscal 2023 — Fiscal 2024 — Fiscal 2025 300,000 Fiscal 2026 — Fiscal 2027 — Thereafter 300,000 Total Senior Secured Notes and Convertible Notes $ 600,000

Employee and Retiree Benefits

Employee and Retiree Benefits	9 Months Ended
Employee and Retiree Benefits	May 28, 2022
Retirement Benefits [Abstract]
Employee and Retiree Benefits	Employee and Retiree Benefits Deferred compensation liabilities are as follows: (in thousands) May 28, August 28, Non-qualified deferred compensation $ 8,470 $ 9,731 Supplemental executive retirement plan 1,381 1,615 Executive deferred compensation plan 1,432 1,029 Total deferred compensation benefits 11,283 12,375 Less current portion (1) 2,733 2,825 Deferred compensation benefits, net of current portion $ 8,550 $ 9,550 (1) Included in accrued compensation on the Consolidated Balance Sheets.

Contingent Liabilities and Comm

Contingent Liabilities and Commitments	9 Months Ended
Contingent Liabilities and Commitments	May 28, 2022
Commitments and Contingencies Disclosure [Abstract]
Contingent Liabilities and Commitments	Contingent Liabilities and Commitments Repurchase Commitments Generally, manufacturers in the same industries as us enter into repurchase agreements with lending institutions which have provided wholesale floorplan financing to dealers. Most dealers 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 units purchased. Our repurchase agreements generally 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 24 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 liability cannot exceed 100% of the dealer invoice. In certain instances, we also repurchase inventory from 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 recreational vehicles or boats to repurchase current inventory if a dealership exits the business. The total contingent liability on all of our repurchase agreements was approximately $1,720.7 million and $727.7 million at May 28, 2022 and August 28, 2021, respectively. Repurchased sales are not recorded as a revenue transaction, rather the net difference between the original repurchase price and the resale price is recorded against the loss reserve, which is a deduction from gross revenue. Our loss reserve for repurchase commitments contains uncertainties because the calculation requires management to make assumptions and apply judgment regarding a number of factors. Our risk of loss related to these 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. The aggregate contingent liability related to our repurchase agreements represents all financed dealer inventory at the period-end reporting date subject to a repurchase agreement, net of the greater of periodic reductions per the agreement or dealer principal payments. Based on these repurchase agreements and our historical loss experience, an associated loss reserve is established which is included in accrued expenses: other on the Consolidated Balance Sheets. Our repurchase accrual was $1.4 million and $0.9 million at May 28, 2022 and August 28, 2021, respectively. Repurchase risk is affected by the credit worthiness of our dealer network. 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. There was no material activity related to repurchase agreements during the nine months ended May 28, 2022 and May 29, 2021. Litigation

Revenue

Revenue	9 Months Ended
Revenue	May 28, 2022
Revenue from Contract with Customer [Abstract]
Revenue	Revenue All operating revenue is generated from contracts with customers. Our primary revenue source is generated through the sale of manufactured non-motorized towable units, motorized units and marine units to our independent dealer network (our customers). The following table disaggregates revenue by reportable segment and product category: Three Months Ended Nine Months Ended (in thousands) May 28, May 29, May 28, May 29, Net Revenues Towable Fifth Wheel $ 392,116 $ 284,432 $ 999,025 $ 751,822 Travel Trailer 404,462 264,450 1,076,626 680,088 Other (1) 8,989 6,867 27,541 18,024 Total Towable 805,567 555,749 2,103,192 1,449,934 Motorhome Class A 208,387 172,437 568,683 464,347 Class B 194,469 135,705 507,171 382,162 Class C and Other (1) 113,489 77,115 279,535 243,712 Total Motorhome 516,345 385,257 1,355,389 1,090,221 Marine 126,548 17,170 303,175 43,527 Corporate / All Other (2) 9,678 2,561 16,853 10,072 Consolidated Net Revenues $ 1,458,138 $ 960,737 $ 3,778,609 $ 2,593,754 (1) Relates to parts, accessories, and services. (2) Relates to specialty vehicle units, parts, accessories, and services. We do not have material contract assets or liabilities. Allowances for uncollectible receivables are established based on historical collection trends, write-off history, consideration of current conditions and expectations for future economic conditions. Concentration of Risk No single dealer organization accounted for more than 10% of net revenue for the nine months ended May 28, 2022 or May 29, 2021.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
Stock-Based Compensation	May 28, 2022
Stockholders' Equity Note [Abstract]
Stock-Based Compensation	Stock-Based Compensation On December 11, 2018, our shareholders approved the Winnebago Industries, Inc. 2019 Omnibus Incentive Plan ("2019 Plan") as detailed in our Proxy Statement for the 2018 Annual Meeting of Shareholders. The 2019 Plan allows us to grant or issue non-qualified stock options, incentive stock options, restricted share units, and other equity compensation to key employees and to non-employee directors. The 2019 Plan replaces the 2014 Omnibus Equity, Performance Award, and Incentive Compensation Plan (as amended, the "2014 Plan"). The number of shares of our common stock that may be awarded and issued under the 2019 Plan is 4.1 million shares, plus the shares subject to any awards outstanding under the 2014 Plan and our predecessor plan, the 2004 Incentive Compensation Plan (the “2004 Plan”), on December 11, 2018 that subsequently expire, are forfeited or canceled, or are settled for cash. Until such time, awards under the 2014 Plan and the 2004 Plan, respectively, that were outstanding on December 11, 2018 will continue to be subject to the terms of the 2014 Plan or 2004 Plan, as applicable. Shares remaining available for future awards under the 2014 Plan were not carried over into the 2019 Plan. Stock-based compensation expense was $5.6 million and $4.7 million during the three months ended May 28, 2022 and May 29, 2021, respectively; and $12.5 million and $11.7 million during the nine months ended May 28, 2022 and May 29, 2021, respectively. Compensation expense is recognized over the requisite service or performance period of the award.

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	May 28, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our effective tax rate was 24.2% and 22.8% for the three months ended May 28, 2022 and May 29, 2021, respectively, and 23.8% and 23.2% for the nine months ended May 28, 2022 and May 29, 2021, respectively. The increase in tax rate for the three and nine months ended May 28, 2022 compared to the three and nine months ended May 29, 2021 was driven primarily by the impact of both consistent tax credits year-over-year over increased income in the current year and a net unfavorable expense in the current year related to stock compensation. We file a U.S. Federal tax return, as well as returns in various international and state jurisdictions. As of May 28, 2022, our Federal returns from Fiscal 2018 to present are subject to review by the Internal Revenue Service. With limited exceptions, state returns from Fiscal 2017 to present continue to be subject to review by state taxing jurisdictions. We are currently under review by certain U.S. state tax authorities for Fiscal 2016 through Fiscal 2019. We believe we have adequately reserved for our exposure to potential additional payments for uncertain tax positions in our liability for unrecognized tax benefits.

Earnings Per Share

Earnings Per Share	9 Months Ended
Earnings Per Share	May 28, 2022
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic and diluted earnings per share are calculated as follows: Three Months Ended Nine Months Ended (in thousands, except per share data) May 28, May 29, May 28, May 29, Net income $ 117,222 $ 71,295 $ 308,027 $ 197,786 Weighted average common shares outstanding 32,389 33,552 32,936 33,565 Dilutive impact of stock compensation awards 466 384 504 302 Dilutive impact of convertible notes — 836 119 76 Weighted average common shares outstanding, assuming dilution 32,855 34,772 33,559 33,943 Anti-dilutive securities excluded from weighted average common shares outstanding, assuming dilution 199 1 174 46 Basic earnings per common share $ 3.62 $ 2.12 $ 9.35 $ 5.89 Diluted earnings per common share $ 3.57 $ 2.05 $ 9.18 $ 5.83 Under the treasury stock method, shares associated with certain anti-dilutive securities have been excluded from the diluted weighted average shares outstanding calculation because the exercise of those options would lead to a net reduction in common shares outstanding or anti-dilution.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
Accumulated Other Comprehensive Income (Loss)	May 28, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Changes in Accumulated Other Comprehensive Income ("AOCI") by component, net of tax, were: Three Months Ended Nine Months Ended May 28, 2022 May 29, 2021 May 28, 2022 May 29, 2021 (in thousands) Defined Benefit Pension Items Defined Benefit Pension Items Defined Benefit Pension Items Defined Benefit Pension Items Balance at beginning of period $ (473) $ (509) $ (491) $ (526) Amounts reclassified from AOCI 10 9 28 26 Net current-period OCI 10 9 28 26 Balance at end of period $ (463) $ (500) $ (463) $ (500) Reclassifications out of AOCI, net of tax, were: Three Months Ended Nine Months Ended (in thousands) Location on Consolidated Statements May 28, May 29, May 28, May 29, Amortization of net actuarial loss SG&A $ 10 $ 9 $ 28 $ 26

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
Basis of Presentation (Policies)	May 28, 2022
Accounting Policies [Abstract]
Basis of Presentation	The consolidated financial statements include the accounts of Winnebago Industries, Inc. and its wholly owned subsidiaries. Significant intercompany account balances and transactions have been eliminated. The use of the terms "Winnebago Industries," "Winnebago," "we," "our," and "us" in this Quarterly Report on Form 10-Q, unless the context otherwise requires, refers to Winnebago Industries, Inc. and its wholly owned subsidiaries. The interim unaudited consolidated financial statements included herein are prepared pursuant to the rules and regulations of the United States (“U.S.”) Securities and Exchange Commission (“SEC”). The information furnished in these consolidated financial statements includes normal recurring adjustments, unless noted otherwise in the Notes to Consolidated Financial Statements, and reflects all adjustments that are, in management’s opinion, necessary for a fair presentation of such financial statements. The consolidated financial statements are prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”). GAAP requires us to make estimates and assumptions that affect amounts reported. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to SEC rules and regulations. The consolidated financial statements included in this Quarterly Report on Form 10-Q should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended August 28, 2021 filed with the SEC. Interim results of operations are not necessarily indicative of the results to be expected for the full fiscal year ending August 27, 2022.
Subsequent Events	In preparing the accompanying unaudited consolidated financial statements, we have evaluated subsequent events for potential recognition and disclosure through the date of this filing noting no material subsequent events.
Recently Adopted/Issued Accounting Pronouncements	Accounting Standards Update ("ASU") Topic 740, Income Taxes: Simplifying the Accounting for Income Taxes , was adopted in the first quarter of Fiscal 2022. The new standard eliminates certain exceptions to Topic 740's general principles, improves consistent application and simplifies its application. We adopted the new guidance in the first quarter of Fiscal 2022, and there was not a material impact to our financial condition, results of operations or disclosures. In August 2020, the Financial Accounting Standards Board ("FASB") issued ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40) which reduces the number of models used to account for convertible instruments, amends diluted earnings per share ("EPS") calculations for convertible instruments, and amends the requirements for a contract (or embedded derivative) that is potentially settled in an entity's own shares to be classified in equity. Certain disclosure requirements were also added to increase transparency and decision-usefulness regarding a convertible instrument's terms and features. Additionally, the if-converted method for including convertible instruments must be used in diluted EPS as opposed to the treasury stock method. The new guidance is effective for annual reporting periods beginning after December 15, 2021, which is our Fiscal 2023. We will adopt the new guidance in the first quarter of Fiscal 2023 and expect the new guidance will increase our net long-term debt and decrease our total equity, as well as change our reported diluted EPS. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of Effects of Reference Rate Reform on Financial Reporting , which provides practical expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The expedients and exceptions provided by this guidance apply only to contracts, hedging relationships, and other transactions that reference the London interbank offered rate (“LIBOR”) or another reference rate expected to be discontinued as a result of reference rate reform. This guidance is not applicable to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022. The guidance can be applied immediately through December 31, 2022. We will adopt this standard when LIBOR is discontinued and do not expect a material impact to our financial condition, results of operations or disclosures based on the current debt portfolio and capital structure.
Fair Value Measurements	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. These securities, used to fund the Executive Share Option Plan and the Executive Deferred Compensation Plan, are classified as Level 1 as they are traded in an active market for which closing stock prices are readily available. Refer to Note 11 of the Notes to the Consolidated Financial Statements included in Item 8 of Part II of our Annual Report on Form 10-K for the fiscal year ended August 28, 2021 for additional information regarding these plans. The proportion of the assets that will fund options which expire within a year are included in prepaid expenses and other assets on the Consolidated Balance Sheets. The remaining assets are classified as non-current and are included in other assets on the Consolidated Balance Sheets. Contingent Consideration Contingent consideration represents the earnout liability related to the Barletta acquisition and is valued using a probability-weighted scenario analysis of projected gross profit results and discounted at a risk-free rate. The contingent consideration is classified as Level 3. Actual gross profit results may differ significantly from those used in the estimate above, which may affect future payments. Changes in future payments will be reflected in future operating results as they occur. The following table provides a reconciliation of the beginning and ending balances of the contingent consideration: Three Months Ended Nine Months Ended (in thousands) May 28, May 29, May 28, May 29, Beginning fair value - contingent consideration $ 37,077 $ — $ — $ — Additions — — 24,190 — Fair value adjustments 11,830 — 24,717 — Settlements (13,168) — (13,168) — Other $ (592) $ — $ (592) $ — Ending fair value - contingent consideration $ 35,147 $ — $ 35,147 $ — The fair value of the earnout liability that will be settled within a year is included in other current liabilities on the Consolidated Balance Sheets. The remaining earnout liability is included in other long-term liabilities on the Consolidated Balance Sheets. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Certain financial instruments are measured at fair value on a nonrecurring basis. These assets primarily include goodwill, intangible assets, property, plant and equipment, and right-of-use lease assets. These assets were originally recognized at amounts equal to the fair value determined at date of acquisition or purchase. If certain triggering events occur, or if an annual impairment test is required, we will evaluate the non-financial asset for impairment. If an impairment has occurred, the asset will be written down to its current estimated fair value. No impairments were recorded for non-financial assets in the three or nine months ended May 28, 2022 or May 29, 2021. Assets and Liabilities Not Measured at Fair Value
Repurchase Commitments	Generally, manufacturers in the same industries as us enter into repurchase agreements with lending institutions which have provided wholesale floorplan financing to dealers. Most dealers 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 units purchased. Our repurchase agreements generally 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 24 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 liability cannot exceed 100% of the dealer invoice. In certain instances, we also repurchase inventory from 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 recreational vehicles or boats to repurchase current inventory if a dealership exits the business. The total contingent liability on all of our repurchase agreements was approximately $1,720.7 million and $727.7 million at May 28, 2022 and August 28, 2021, respectively.
Revenue	We do not have material contract assets or liabilities. Allowances for uncollectible receivables are established based on historical collection trends, write-off history, consideration of current conditions and expectations for future economic conditions.

Business Combinations (Tables)

Business Combinations (Tables)	9 Months Ended
Business Combinations (Tables)	May 28, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Preliminary Fair Values Assigned	The following table summarizes the fair values assigned to the Barletta net assets acquired as of the date of acquisition: (in thousands) August 31, 2021 Cash $ 11,903 Other current assets 24,564 Property, plant, and equipment 17,250 Goodwill 136,118 Other intangible assets 111,400 Total assets acquired 301,235 Accounts payable 7,181 Product warranties 4,656 Other current liabilities 3,146 Total liabilities assumed 14,983 Total purchase price $ 286,252

Business Segments (Tables)

Business Segments (Tables)	9 Months Ended
Business Segments (Tables)	May 28, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Financial information by reportable segment is as follows: Three Months Ended Nine Months Ended (in thousands) May 28, May 29, May 28, May 29, Net Revenues Towable $ 805,567 $ 555,749 $ 2,103,192 $ 1,449,934 Motorhome 516,345 385,257 1,355,389 1,090,221 Marine 126,548 17,170 303,175 43,527 Corporate / All Other 9,678 2,561 16,853 10,072 Consolidated $ 1,458,138 $ 960,737 $ 3,778,609 $ 2,593,754 Adjusted EBITDA Towable $ 117,767 $ 80,130 $ 330,417 $ 205,639 Motorhome 64,388 37,467 160,636 118,779 Marine 19,813 1,624 43,336 3,502 Corporate / All Other (10,247) (9,447) (24,707) (20,888) Consolidated $ 191,721 $ 109,774 $ 509,682 $ 307,032 Capital Expenditures Towable $ 12,621 $ 4,639 $ 33,960 $ 11,490 Motorhome 570 2,976 16,196 10,247 Marine 6,041 1,061 8,581 1,859 Corporate / All Other 570 — 4,491 — Consolidated $ 19,802 $ 8,676 $ 63,228 $ 23,596 (in thousands) May 28, August 28, Assets Towable $ 913,892 $ 790,257 Motorhome 857,636 728,060 Marine 404,137 102,901 Corporate / All Other 251,469 441,349 Consolidated $ 2,427,134 $ 2,062,567 Reconciliation of net income to consolidated Adjusted EBITDA is as follows: Three Months Ended Nine Months Ended (in thousands) May 28, 2022 May 29, 2021 May 28, 2022 May 29, 2021 Net income $ 117,222 $ 71,295 $ 308,027 $ 197,786 Interest expense, net 10,511 10,229 31,078 30,222 Provision for income taxes 37,326 21,005 96,227 59,728 Depreciation 6,264 4,917 17,031 13,476 Amortization 8,016 3,590 24,203 10,771 EBITDA 179,339 111,036 476,566 311,983 Acquisition-related costs 724 — 4,594 — Litigation reserves — — 4,000 — Restructuring expenses — 19 — 112 Gain on sale of property, plant and equipment — (1,188) — (4,753) Contingent consideration fair value adjustment 11,830 — 24,717 — Non-operating income (172) (93) (195) (310) Adjusted EBITDA $ 191,721 $ 109,774 $ 509,682 $ 307,032

Investments and Fair Value Me_2

Investments and Fair Value Measurements (Tables)	9 Months Ended
Investments and Fair Value Measurements (Tables)	May 28, 2022
Fair Value Disclosures [Abstract]
Fair Value, Assets Measured on Recurring Basis	Financial assets and liabilities measured at fair value on a recurring basis are as follows: Fair Value at Fair Value Hierarchy (in thousands) May 28, Level 1 Level 2 Level 3 Assets that fund deferred compensation Domestic equity funds $ 1,206 $ 1,206 $ — $ — International equity funds 61 61 — — Fixed income funds 183 183 — — Total assets at fair value $ 1,450 $ 1,450 $ — $ — Contingent consideration Earnout liability $ 35,147 $ — $ — $ 35,147 Total liabilities at fair value $ 35,147 $ — $ — $ 35,147 Fair Value at Fair Value Hierarchy (in thousands) August 28, Level 1 Level 2 Level 3 Assets that fund deferred compensation Domestic equity funds $ 940 $ 940 $ — $ — International equity funds 41 41 — — Fixed income funds 46 46 — — Total assets at fair value $ 1,027 $ 1,027 $ — $ —
Fair Value, Liabilities Measured on Recurring Basis	Financial assets and liabilities measured at fair value on a recurring basis are as follows: Fair Value at Fair Value Hierarchy (in thousands) May 28, Level 1 Level 2 Level 3 Assets that fund deferred compensation Domestic equity funds $ 1,206 $ 1,206 $ — $ — International equity funds 61 61 — — Fixed income funds 183 183 — — Total assets at fair value $ 1,450 $ 1,450 $ — $ — Contingent consideration Earnout liability $ 35,147 $ — $ — $ 35,147 Total liabilities at fair value $ 35,147 $ — $ — $ 35,147 Fair Value at Fair Value Hierarchy (in thousands) August 28, Level 1 Level 2 Level 3 Assets that fund deferred compensation Domestic equity funds $ 940 $ 940 $ — $ — International equity funds 41 41 — — Fixed income funds 46 46 — — Total assets at fair value $ 1,027 $ 1,027 $ — $ —
Fair Value Disclosure Of Contingent Consideration	The following table provides a reconciliation of the beginning and ending balances of the contingent consideration: Three Months Ended Nine Months Ended (in thousands) May 28, May 29, May 28, May 29, Beginning fair value - contingent consideration $ 37,077 $ — $ — $ — Additions — — 24,190 — Fair value adjustments 11,830 — 24,717 — Settlements (13,168) — (13,168) — Other $ (592) $ — $ (592) $ — Ending fair value - contingent consideration $ 35,147 $ — $ 35,147 $ —

Inventories (Tables)

Inventories (Tables)	9 Months Ended
Inventories (Tables)	May 28, 2022
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories consist of the following: (in thousands) May 28, August 28, Finished goods $ 18,449 $ 12,243 Work-in-process 202,733 184,611 Raw materials 309,760 183,583 Total 530,942 380,437 Less: Excess of FIFO over LIFO cost 44,842 38,964 Inventories, net $ 486,100 $ 341,473 Inventory valuation methods consist of the following: (in thousands) May 28, August 28, LIFO basis $ 216,820 $ 139,544 First-in, first-out basis 314,122 240,893 Total $ 530,942 $ 380,437

Property, Plant, and Equipment

Property, Plant, and Equipment (Tables)	9 Months Ended
Property, Plant, and Equipment (Tables)	May 28, 2022
Property, Plant and Equipment [Abstract]
Property, Plant, and Equipment	Property, plant, and equipment is stated at cost, net of accumulated depreciation, and consists of the following: (in thousands) May 28, August 28, Land $ 10,697 $ 9,111 Buildings and building improvements 169,781 147,629 Machinery and equipment 130,601 121,911 Software 40,747 36,815 Transportation 6,563 5,335 Construction in progress 72,023 31,137 Property, plant, and equipment, gross 430,412 351,938 Less: Accumulated depreciation 174,077 160,511 Property, plant, and equipment, net $ 256,335 $ 191,427

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
Goodwill and Intangible Assets (Tables)	May 28, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in Carrying Amount of Goodwill	The changes in the carrying amount of goodwill by reportable segment, with no accumulated impairment losses, for the nine months ended May 28, 2022 and May 29, 2021 are as follows: (in thousands) Towable Motorhome Marine Total Balances at August 29, 2020 and May 29, 2021 (1) $ 244,684 $ 73,127 $ 30,247 $ 348,058 Balances at August 28, 2021 $ 244,684 $ 73,127 $ 30,247 $ 348,058 Acquisition of Barletta (2) — — 136,118 136,118 Balances at May 28, 2022 $ 244,684 $ 73,127 $ 166,365 $ 484,176 (1) There was no activity in the nine months ended May 29, 2021. (2) The change in marine activity is related to the acquisition of Barletta that occurred on August 31, 2021. See Note 2 to the Consolidated Financial Statements included in Item 1 of Part I of this quarterly report on Form 10-Q.
Schedule of Other Intangible Assets	Other intangible assets, net of accumulated amortization, consist of the following: May 28, 2022 (in thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Value Trade names $ 352,250 $ — $ 352,250 Dealer networks 179,981 $ 56,801 123,180 Backlog 42,327 40,927 1,400 Non-compete agreements 6,647 5,874 773 Other intangible assets $ 581,205 $ 103,602 $ 477,603 August 28, 2021 (in thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Value Trade names $ 275,250 $ — $ 275,250 Dealer networks 159,581 45,652 113,929 Backlog 28,327 28,327 — Non-compete agreements 6,647 5,419 1,228 Other intangible assets $ 469,805 $ 79,398 $ 390,407
Schedule of Remaining Estimated Aggregate Annual Amortization Expense	Estimated future amortization expense related to finite-lived intangible assets is as follows: (in thousands) Amount Remainder of Fiscal 2022 $ 5,216 Fiscal 2023 15,226 Fiscal 2024 15,124 Fiscal 2025 14,919 Fiscal 2026 14,865 Fiscal 2027 14,865 Thereafter 45,138 Total amortization expense remaining $ 125,353

Product Warranties (Tables)

Product Warranties (Tables)	9 Months Ended
Product Warranties (Tables)	May 28, 2022
Product Warranties Disclosures [Abstract]
Schedule of Product Warranty Liability	Changes in the product warranty liability are as follows: Three Months Ended Nine Months Ended (in thousands) May 28, May 29, May 28, May 29, Balance at beginning of period $ 113,818 $ 76,040 $ 91,222 $ 64,031 Business acquisition (1) — — 4,656 — Provision 37,052 23,056 94,274 64,986 Claims paid (23,607) (17,034) (62,889) (46,955) Balance at end of period $ 127,263 $ 82,062 $ 127,263 $ 82,062 (1) Relates to the acquisition of Barletta on August 31, 2021. See Note 2 to the Consolidated Financial Statements in Item 1 of Part I of this quarterly report on Form 10-Q for additional acquisition information.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
Long-Term Debt (Tables)	May 28, 2022
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term debt consists of the following: (in thousands) May 28, August 28, ABL Credit Facility $ — $ — Senior Secured Notes 300,000 300,000 Convertible Notes 300,000 300,000 Long-term debt, gross 600,000 600,000 Convertible Notes unamortized interest discount (49,141) (60,366) Debt issuance costs, net (9,406) (11,075) Long-term debt, net $ 541,453 $ 528,559
Schedule of Maturities of Long-term Debt	Aggregate contractual maturities of debt in future fiscal years are as follows: (in thousands) Amount Remainder of Fiscal 2022 $ — Fiscal 2023 — Fiscal 2024 — Fiscal 2025 300,000 Fiscal 2026 — Fiscal 2027 — Thereafter 300,000 Total Senior Secured Notes and Convertible Notes $ 600,000

Employee and Retiree Benefits (

Employee and Retiree Benefits (Tables)	9 Months Ended
Employee and Retiree Benefits (Tables)	May 28, 2022
Retirement Benefits [Abstract]
Schedule of Deferred Compensation Liabilities	Deferred compensation liabilities are as follows: (in thousands) May 28, August 28, Non-qualified deferred compensation $ 8,470 $ 9,731 Supplemental executive retirement plan 1,381 1,615 Executive deferred compensation plan 1,432 1,029 Total deferred compensation benefits 11,283 12,375 Less current portion (1) 2,733 2,825 Deferred compensation benefits, net of current portion $ 8,550 $ 9,550 (1) Included in accrued compensation on the Consolidated Balance Sheets.

Revenue (Tables)

Revenue (Tables)	9 Months Ended
Revenue (Tables)	May 28, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table disaggregates revenue by reportable segment and product category: Three Months Ended Nine Months Ended (in thousands) May 28, May 29, May 28, May 29, Net Revenues Towable Fifth Wheel $ 392,116 $ 284,432 $ 999,025 $ 751,822 Travel Trailer 404,462 264,450 1,076,626 680,088 Other (1) 8,989 6,867 27,541 18,024 Total Towable 805,567 555,749 2,103,192 1,449,934 Motorhome Class A 208,387 172,437 568,683 464,347 Class B 194,469 135,705 507,171 382,162 Class C and Other (1) 113,489 77,115 279,535 243,712 Total Motorhome 516,345 385,257 1,355,389 1,090,221 Marine 126,548 17,170 303,175 43,527 Corporate / All Other (2) 9,678 2,561 16,853 10,072 Consolidated Net Revenues $ 1,458,138 $ 960,737 $ 3,778,609 $ 2,593,754 (1) Relates to parts, accessories, and services. (2) Relates to specialty vehicle units, parts, accessories, and services.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
Earnings Per Share (Tables)	May 28, 2022
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Income Per Share	Basic and diluted earnings per share are calculated as follows: Three Months Ended Nine Months Ended (in thousands, except per share data) May 28, May 29, May 28, May 29, Net income $ 117,222 $ 71,295 $ 308,027 $ 197,786 Weighted average common shares outstanding 32,389 33,552 32,936 33,565 Dilutive impact of stock compensation awards 466 384 504 302 Dilutive impact of convertible notes — 836 119 76 Weighted average common shares outstanding, assuming dilution 32,855 34,772 33,559 33,943 Anti-dilutive securities excluded from weighted average common shares outstanding, assuming dilution 199 1 174 46 Basic earnings per common share $ 3.62 $ 2.12 $ 9.35 $ 5.89 Diluted earnings per common share $ 3.57 $ 2.05 $ 9.18 $ 5.83

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
Accumulated Other Comprehensive Income (Loss) (Tables)	May 28, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income By Component	Changes in Accumulated Other Comprehensive Income ("AOCI") by component, net of tax, were: Three Months Ended Nine Months Ended May 28, 2022 May 29, 2021 May 28, 2022 May 29, 2021 (in thousands) Defined Benefit Pension Items Defined Benefit Pension Items Defined Benefit Pension Items Defined Benefit Pension Items Balance at beginning of period $ (473) $ (509) $ (491) $ (526) Amounts reclassified from AOCI 10 9 28 26 Net current-period OCI 10 9 28 26 Balance at end of period $ (463) $ (500) $ (463) $ (500)
Reclassification out of Accumulated Other Comprehensive Income	Reclassifications out of AOCI, net of tax, were: Three Months Ended Nine Months Ended (in thousands) Location on Consolidated Statements May 28, May 29, May 28, May 29, Amortization of net actuarial loss SG&A $ 10 $ 9 $ 28 $ 26

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($) $ in Millions	May 28, 2022	Dec. 31, 2020	May 30, 2020
Accounting Policies [Abstract]
Deferred FICA liability	$ 8.2	$ 8
Refundable tax credit			$ 4
Refundable tax credit, outstanding	$ 0.8

Business Combinations - Narrati

Business Combinations - Narrative (Details) - USD ($) $ in Thousands, shares in Millions		3 Months Ended				9 Months Ended
	Aug. 31, 2021	May 28, 2022	Nov. 27, 2021	Aug. 28, 2021	May 29, 2021	May 28, 2022	May 29, 2021
Business Acquisition [Line Items]
Acquisition-related costs expensed		$ 724			$ 0	$ 4,594	$ 0
Barletta
Business Acquisition [Line Items]
Percent of voting interest acquired	100%
Purchase price	$ 286,300
Cash payments	240,100
Purchase price, common stock issued	$ 25,000
Discount percentage on purchase price	12%
Lockup restriction period	1 year
Purchase price, common stock issued after discount	$ 22,000
Earnout liability	$ 24,200	35,100				35,100
Transaction costs		$ 3,100				3,100
Acquisition-related costs expensed			$ 2,400	$ 700
Barletta \| Backlog
Business Acquisition [Line Items]
Weighted-average useful life	10 months
Barletta \| Dealer networks
Business Acquisition [Line Items]
Weighted-average useful life	12 years
Barletta \| Common Shares
Business Acquisition [Line Items]
Issuance of stock for acquisition (in shares)		0.2
Barletta \| Other Current Liabilities
Business Acquisition [Line Items]
Earnout liability		$ 20,900				20,900
Barletta \| Other Noncurrent Liabilities
Business Acquisition [Line Items]
Earnout liability		$ 14,200				$ 14,200
Barletta \| Earnout Paid In Cash
Business Acquisition [Line Items]
Earnout amount	$ 50,000
Barletta \| Earnout Paid In Stock
Business Acquisition [Line Items]
Earnout amount	$ 15,000

Business Combinations - Schedul

Business Combinations - Schedule of Preliminary Fair Values Assigned (Details) - USD ($) $ in Thousands	May 28, 2022	Aug. 31, 2021	Aug. 28, 2021	May 29, 2021	Aug. 29, 2020
Business Acquisition [Line Items]
Goodwill	$ 484,176		$ 348,058	$ 348,058	$ 348,058
Barletta
Business Acquisition [Line Items]
Cash		$ 11,903
Other current assets		24,564
Property, plant, and equipment		17,250
Goodwill		136,118
Other intangible assets		111,400
Total assets acquired		301,235
Accounts payable		7,181
Product warranties		4,656
Other current liabilities		3,146
Total liabilities assumed		14,983
Total purchase price		$ 286,252

Business Segments (Details)

Business Segments (Details) $ in Thousands	3 Months Ended		9 Months Ended
Business Segments (Details) $ in Thousands	May 28, 2022 USD ($)	May 29, 2021 USD ($)	May 28, 2022 USD ($) segment	May 29, 2021 USD ($)	Aug. 28, 2021 USD ($)
Segment Reporting Information [Line Items]
Number of operating segments \| segment			7
Number of reportable segments \| segment			3
Net Revenues	$ 1,458,138	$ 960,737	$ 3,778,609	$ 2,593,754
Adjusted EBITDA	191,721	109,774	509,682	307,032
Capital Expenditures	19,802	8,676	63,228	23,596
Assets	2,427,134		2,427,134		$ 2,062,567
Net income	117,222	71,295	308,027	197,786
Interest expense, net	10,511	10,229	31,078	30,222
Provision for income taxes	37,326	21,005	96,227	59,728
Depreciation	6,264	4,917	17,031	13,476
Amortization	8,016	3,590	24,203	10,771
EBITDA	179,339	111,036	476,566	311,983
Acquisition-related costs	724	0	4,594	0
Litigation reserves	0	0	4,000	0
Restructuring expenses	0	19	0	112
Gain on sale of property, plant and equipment	0	(1,188)	0	(4,753)
Contingent consideration fair value adjustment	11,830	0	24,717	0
Non-operating income	(172)	(93)	(195)	(310)
Operating Segments \| Towable
Segment Reporting Information [Line Items]
Net Revenues	805,567	555,749	2,103,192	1,449,934
Adjusted EBITDA	117,767	80,130	330,417	205,639
Capital Expenditures	12,621	4,639	33,960	11,490
Assets	913,892		913,892		790,257
Operating Segments \| Motorhome
Segment Reporting Information [Line Items]
Net Revenues	516,345	385,257	1,355,389	1,090,221
Adjusted EBITDA	64,388	37,467	160,636	118,779
Capital Expenditures	570	2,976	16,196	10,247
Assets	857,636		857,636		728,060
Operating Segments \| Marine
Segment Reporting Information [Line Items]
Net Revenues	126,548	17,170	303,175	43,527
Adjusted EBITDA	19,813	1,624	43,336	3,502
Capital Expenditures	6,041	1,061	8,581	1,859
Assets	404,137		404,137		102,901
Corporate / All Other
Segment Reporting Information [Line Items]
Net Revenues	9,678	2,561	16,853	10,072
Adjusted EBITDA	(10,247)	(9,447)	(24,707)	(20,888)
Capital Expenditures	570	$ 0	4,491	$ 0
Assets	$ 251,469		$ 251,469		$ 441,349

Investments and Fair Value Me_3

Investments and Fair Value Measurements - Assets and Liabilities Measured at Fair Value (Details) - USD ($)	3 Months Ended		9 Months Ended
	May 28, 2022	May 29, 2021	May 28, 2022	May 29, 2021	Aug. 28, 2021
Fair Value, Measurements, Recurring
Assets that fund deferred compensation
Domestic equity funds	$ 1,206,000		$ 1,206,000		$ 940,000
International equity funds	61,000		61,000		41,000
Fixed income funds	183,000		183,000		46,000
Total assets at fair value	1,450,000		1,450,000		1,027,000
Contingent consideration
Earnout liability	35,147,000		35,147,000
Total liabilities at fair value	35,147,000		35,147,000
Fair Value, Measurements, Recurring \| Level 1
Assets that fund deferred compensation
Domestic equity funds	1,206,000		1,206,000		940,000
International equity funds	61,000		61,000		41,000
Fixed income funds	183,000		183,000		46,000
Total assets at fair value	1,450,000		1,450,000		1,027,000
Contingent consideration
Earnout liability	0		0
Total liabilities at fair value	0		0
Fair Value, Measurements, Recurring \| Level 2
Assets that fund deferred compensation
Domestic equity funds	0		0		0
International equity funds	0		0		0
Fixed income funds	0		0		0
Total assets at fair value	0		0		0
Contingent consideration
Earnout liability	0		0
Total liabilities at fair value	0		0
Fair Value, Measurements, Recurring \| Level 3
Assets that fund deferred compensation
Domestic equity funds	0		0		0
International equity funds	0		0		0
Fixed income funds	0		0		0
Total assets at fair value	0		0		$ 0
Contingent consideration
Earnout liability	35,147,000		35,147,000
Total liabilities at fair value	35,147,000		35,147,000
Fair Value, Nonrecurring
Contingent consideration
Asset impairment charges	$ 0	$ 0	$ 0	$ 0

Investments and Fair Value Me_4

Investments and Fair Value Measurements - Fair Value of Contingent Consideration (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 28, 2022	May 29, 2021	May 28, 2022	May 29, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning fair value - contingent consideration	$ 37,077	$ 0	$ 0	$ 0
Additions	0	0	24,190	0
Fair value adjustments	11,830	0	24,717	0
Settlements	(13,168)	0	(13,168)	0
Other	(592)	0	(592)	0
Ending fair value - contingent consideration	$ 35,147	$ 0	$ 35,147	$ 0

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Details) - USD ($) $ in Thousands	May 28, 2022	Aug. 28, 2021
Inventory Disclosure [Abstract]
Finished goods	$ 18,449	$ 12,243
Work-in-process	202,733	184,611
Raw materials	309,760	183,583
Total	530,942	380,437
Less: Excess of FIFO over LIFO cost	44,842	38,964
Inventories, net	$ 486,100	$ 341,473

Inventories - Inventory Valuati

Inventories - Inventory Valuation Methods (Details) - USD ($) $ in Thousands	May 28, 2022	Aug. 28, 2021
Inventory Disclosure [Abstract]
LIFO basis	$ 216,820	$ 139,544
First-in, first-out basis	314,122	240,893
Total	$ 530,942	$ 380,437

Property, Plant, and Equipmen_2

Property, Plant, and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 28, 2022	May 29, 2021	May 28, 2022	May 29, 2021	Aug. 28, 2021
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	$ 430,412		$ 430,412		$ 351,938
Less: Accumulated depreciation	174,077		174,077		160,511
Property, plant, and equipment, net	256,335		256,335		191,427
Depreciation	6,264	$ 4,917	17,031	$ 13,476
Land
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	10,697		10,697		9,111
Buildings and building improvements
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	169,781		169,781		147,629
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	130,601		130,601		121,911
Software
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	40,747		40,747		36,815
Transportation
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	6,563		6,563		5,335
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	$ 72,023		$ 72,023		$ 31,137

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Goodwill (Details) - USD ($)	9 Months Ended
	May 28, 2022	May 29, 2021
Goodwill [Roll Forward]
Beginning balance	$ 348,058,000	$ 348,058,000
Acquisition of Barletta	136,118,000
Ending balance	484,176,000	348,058,000
Goodwill activity		0
Towable
Goodwill [Roll Forward]
Beginning balance	244,684,000	244,684,000
Acquisition of Barletta	0
Ending balance	244,684,000	244,684,000
Motorhome
Goodwill [Roll Forward]
Beginning balance	73,127,000	73,127,000
Acquisition of Barletta	0
Ending balance	73,127,000	73,127,000
Marine
Goodwill [Roll Forward]
Beginning balance	30,247,000	30,247,000
Acquisition of Barletta	136,118,000
Ending balance	$ 166,365,000	$ 30,247,000

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	May 28, 2022	Aug. 28, 2021
Schedule of Intangible Assets [Line Items]
Gross Carrying Amount	$ 581,205	$ 469,805
Accumulated Amortization	103,602	79,398
Net Carrying Value	477,603	390,407
Dealer networks
Schedule of Intangible Assets [Line Items]
Gross Carrying Amount	179,981	159,581
Accumulated Amortization	56,801	45,652
Net Carrying Value	123,180	113,929
Backlog
Schedule of Intangible Assets [Line Items]
Gross Carrying Amount	42,327	28,327
Accumulated Amortization	40,927	28,327
Net Carrying Value	1,400	0
Non-compete agreements
Schedule of Intangible Assets [Line Items]
Gross Carrying Amount	6,647	6,647
Accumulated Amortization	5,874	5,419
Net Carrying Value	773	1,228
Trade names
Schedule of Intangible Assets [Line Items]
Gross Carrying Amount	352,250	275,250
Net Carrying Value	$ 352,250	$ 275,250

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Narrative (Details)	9 Months Ended
Goodwill and Intangible Assets - Narrative (Details)	May 28, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Weighted average remaining amortization period (in years)	9 years

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Future Amortization of Intangible Assets (Details) $ in Thousands	May 28, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of Fiscal 2022	$ 5,216
Fiscal 2023	15,226
Fiscal 2024	15,124
Fiscal 2025	14,919
Fiscal 2026	14,865
Fiscal 2027	14,865
Thereafter	45,138
Total amortization expense remaining	$ 125,353

Product Warranties (Details)

Product Warranties (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Product Warranties (Details) - USD ($) $ in Thousands	May 28, 2022	May 29, 2021	May 28, 2022	May 29, 2021
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Balance at beginning of period	$ 113,818	$ 76,040	$ 91,222	$ 64,031
Business acquisition	0	0	4,656	0
Provision	37,052	23,056	94,274	64,986
Claims paid	(23,607)	(17,034)	(62,889)	(46,955)
Balance at end of period	$ 127,263	$ 82,062	$ 127,263	$ 82,062

Long-Term Debt - Components of

Long-Term Debt - Components of Long-Term Debt (Details) - USD ($) $ in Thousands	May 28, 2022	Aug. 28, 2021
Debt Instrument [Line Items]
Long-term debt, gross	$ 600,000	$ 600,000
Convertible Notes unamortized interest discount	(49,141)	(60,366)
Debt issuance costs, net	(9,406)	(11,075)
Long-term debt, net	541,453	528,559
ABL Credit Facility
Debt Instrument [Line Items]
Long-term debt, gross	0	0
Senior Secured Notes
Debt Instrument [Line Items]
Long-term debt, gross	300,000	300,000
Convertible Notes
Debt Instrument [Line Items]
Long-term debt, gross	$ 300,000	$ 300,000

Long-Term Debt - Credit Agreeme

Long-Term Debt - Credit Agreements (Details) - USD ($)	Jul. 08, 2020	Nov. 08, 2016
Senior Secured Notes \| Senior Notes
Debt Instrument [Line Items]
Debt amount	$ 300,000,000
Interest rate, stated percentage	6.25%
Debt issuance costs	$ 7,500,000
Debt term	8 years
ABL Credit Facility
Debt Instrument [Line Items]
Credit facility amount		$ 192,500,000
Line of credit facility, commitment fee percentage		0.25%
ABL Credit Facility \| Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.25%
ABL Credit Facility \| Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.75%
ABL Credit Facility \| Letter of Credit
Debt Instrument [Line Items]
Debt amount		$ 19,300,000

Long-Term Debt - Convertible No

Long-Term Debt - Convertible Notes (Details)		9 Months Ended
Long-Term Debt - Convertible Notes (Details)	Nov. 01, 2019 USD ($) d $ / shares Rate	May 28, 2022 USD ($)	Aug. 28, 2021 USD ($)
Debt Instrument [Line Items]
Offering-related costs		$ 9,406,000	$ 11,075,000
Call Spread Transactions
Debt Instrument [Line Items]
Equity component of issuance		85,000,000
Equity component of issuance, net of tax		64,100,000
Offering-related costs		9,800,000
Deferred offering costs classified as liability		7,000,000
Deferred offering costs classified as equity		2,800,000
Convertible Notes
Debt Instrument [Line Items]
Debt amount	$ 300,000,000	300,000,000
Interest rate, stated percentage	1.50%
Proceeds from issuance of notes	$ 290,200,000
Conversion rate (in shares) \| Rate	1.56906%
Conversion price (in dollars per share) \| $ / shares	$ 63.73
Number of consecutive trading days \| d	30
Consecutive business days \| d	5
Consecutive trading days \| d	5
Convertible Notes \| Minimum
Debt Instrument [Line Items]
Percentage of the conversion price	130%
Number of trading days \| d	20
Convertible Notes \| Maximum
Debt Instrument [Line Items]
Percentage of the conversion price	98%
Convertible Notes \| Call Spread Transactions
Debt Instrument [Line Items]
Debt amount		$ 215,000,000
Interest rate, stated percentage		8%
Net cost incurred transaction, amount		$ 11,200,000

Long-Term Debt - Long-Term Debt

Long-Term Debt - Long-Term Debt Contractual Maturities (Details) - USD ($) $ in Thousands	May 28, 2022	Aug. 28, 2021
Debt Disclosure [Abstract]
Fair value of long-term debt, gross	$ 599,100	$ 726,600
Remainder of Fiscal 2022	0
Fiscal 2023	0
Fiscal 2024	0
Fiscal 2025	300,000
Fiscal 2026	0
Fiscal 2027	0
Thereafter	300,000
Total Senior Secured Notes and Convertible Notes	$ 600,000	$ 600,000

Employee and Retiree Benefits_2

Employee and Retiree Benefits (Details) - USD ($) $ in Thousands	May 28, 2022	Aug. 28, 2021
Retirement Benefits [Abstract]
Non-qualified deferred compensation	$ 8,470	$ 9,731
Supplemental executive retirement plan	1,381	1,615
Executive deferred compensation plan	1,432	1,029
Total deferred compensation benefits	11,283	12,375
Less current portion	2,733	2,825
Deferred compensation benefits, net of current portion	$ 8,550	$ 9,550

Contingent Liabilities and Co_2

Contingent Liabilities and Commitments (Details) - USD ($) $ in Millions	9 Months Ended
	May 28, 2022	Aug. 28, 2021
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Repurchase agreement term	24 months
Percentage of dealer invoice that liability cannot exceed	100%
Accrued loss on repurchases	$ 1.4	$ 0.9
Obligation to Repurchase from Dealers
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Contingent liability on repurchase agreements	$ 1,720.7	$ 727.7

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Revenue (Details) - USD ($) $ in Thousands	May 28, 2022	May 29, 2021	May 28, 2022	May 29, 2021
Disaggregation of Revenue [Line Items]
Consolidated Net Revenues	$ 1,458,138	$ 960,737	$ 3,778,609	$ 2,593,754
Operating Segments \| Towable
Disaggregation of Revenue [Line Items]
Consolidated Net Revenues	805,567	555,749	2,103,192	1,449,934
Operating Segments \| Towable \| Fifth Wheel
Disaggregation of Revenue [Line Items]
Consolidated Net Revenues	392,116	284,432	999,025	751,822
Operating Segments \| Towable \| Travel Trailer
Disaggregation of Revenue [Line Items]
Consolidated Net Revenues	404,462	264,450	1,076,626	680,088
Operating Segments \| Towable \| Other
Disaggregation of Revenue [Line Items]
Consolidated Net Revenues	8,989	6,867	27,541	18,024
Operating Segments \| Motorhome
Disaggregation of Revenue [Line Items]
Consolidated Net Revenues	516,345	385,257	1,355,389	1,090,221
Operating Segments \| Motorhome \| Class A
Disaggregation of Revenue [Line Items]
Consolidated Net Revenues	208,387	172,437	568,683	464,347
Operating Segments \| Motorhome \| Class B
Disaggregation of Revenue [Line Items]
Consolidated Net Revenues	194,469	135,705	507,171	382,162
Operating Segments \| Motorhome \| Class C and Other
Disaggregation of Revenue [Line Items]
Consolidated Net Revenues	113,489	77,115	279,535	243,712
Operating Segments \| Marine
Disaggregation of Revenue [Line Items]
Consolidated Net Revenues	126,548	17,170	303,175	43,527
Corporate / All Other
Disaggregation of Revenue [Line Items]
Consolidated Net Revenues	$ 9,678	$ 2,561	$ 16,853	$ 10,072

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ in Thousands, shares in Millions	3 Months Ended		9 Months Ended
	May 28, 2022	May 29, 2021	May 28, 2022	May 29, 2021	Dec. 11, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 5,600	$ 4,700	$ 12,518	$ 11,719
Incentive Compensation Plan 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards issued under the plan (in shares)					4.1

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		9 Months Ended
Income Taxes (Details)	May 28, 2022	May 29, 2021	May 28, 2022	May 29, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate	24.20%	22.80%	23.80%	23.20%

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	May 28, 2022	May 29, 2021	May 28, 2022	May 29, 2021
Earnings Per Share [Abstract]
Net income	$ 117,222	$ 71,295	$ 308,027	$ 197,786
Weighted average common shares outstanding (in shares)	32,389,000	33,552,000	32,936,000	33,565,000
Dilutive impact of stock compensation awards (in shares)	466,000	384,000	504,000	302,000
Dilutive impact of convertible notes (in shares)	0	836,000	119,000	76,000
Weighted average common shares outstanding, assuming dilution (in shares)	32,855,000	34,772,000	33,559,000	33,943,000
Anti-dilutive securities excluded from weighted average common shares outstanding, assuming dilution (in shares)	199,000	1,000	174,000	46,000
Basic earnings per common share (in dollars per share)	$ 3.62	$ 2.12	$ 9.35	$ 5.89
Diluted earnings per common share (in dollars per share)	$ 3.57	$ 2.05	$ 9.18	$ 5.83

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Changes in AOCI by Component (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 28, 2022	May 29, 2021	May 28, 2022	May 29, 2021
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 1,208,987	$ 942,364	$ 1,056,943	$ 827,466
Ending balance	1,263,891	1,010,258	1,263,891	1,010,258
Defined Benefit Pension Items
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(473)	(509)	(491)	(526)
Amounts reclassified from AOCI	10	9	28	26
Net current-period OCI	10	9	28	26
Ending balance	$ (463)	$ (500)	$ (463)	$ (500)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) - Reclassification from AOCI (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 28, 2022	May 29, 2021	May 28, 2022	May 29, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Selling, general, and administrative expenses	$ 88,231	$ 63,586	$ 234,896	$ 165,001
Reclassification out of Accumulated Other Comprehensive Income \| Amortization of net actuarial loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Selling, general, and administrative expenses	$ 10	$ 9	$ 28	$ 26