XML 22 R9.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Business Segments (Notes) | 9 Months Ended
--- | ---
May 27, 2017
Segment Reporting [Abstract] |
Business Segments | Business Segments We report segment information based on the "management" approach defined in ASC 280, Segment Reporting. The management approach designates the internal reporting used by management for making decisions and assessing performance as the source of our reportable operating segments. In the first quarter of Fiscal 2017, we revised our reporting segments. Previously we had one reporting segment which included all RV products and services. With the acquisition of Grand Design in the first quarter, we expanded the number of reporting segments to two: (1) Motorized products and services and (2) Towable products and services. The Motorized segment includes all products that include a motorized chassis as well as other related manufactured products. The Towable segment includes all products which are not motorized and are generally towed by another vehicle. Prior year segment information has been restated to conform to the current reporting segment presentation. We organize our business on a product basis. Each reportable segment is managed separately to better align to our customers, distribution partners and the unique market dynamics of the product groups. We have aggregated two operating segments into the Towable reporting segment based upon their similar products, customers, distribution methods, production processes and economic characteristics. The accounting policies of both reportable segments are the same and described in Note 1, "Summary of Significant Accounting Policies" in our annual report on Form 10-K for the year ended August 27, 2016 reported on Form 8-K dated January 20, 2017. We evaluate the performance of our reportable segments based on Adjusted EBITDA. Adjusted EBITDA is defined as earnings before interest, taxes, depreciation and amortization and other adjustments made in order to present comparable results from period to period. These types of adjustments are also specified in the definition of certain measures required under the terms of our Credit Facility. Examples of items excluded from Adjusted EBITDA include the postretirement health care benefit resulting from terminating the plan and the transaction costs related to our acquisition of Grand Design. The following table shows information by reporting segment:
|  | Three Months Ended |  | Nine Months Ended
(In thousands) |  | May 27, 2017 |  | May 28, 2016 |  | May 27, 2017 |  | May 28, 2016
Net revenues |  |  |  |  |  |  |  |
Motorized |  | $ | 241,670 |  |  | $ | 246,684 |  |  | $ | 635,732 |  |  | $ | 649,162 |
Towable |  | 234,694 |  |  | 25,393 |  |  | 456,451 |  |  | 62,810 |
Consolidated |  | $ | 476,364 |  |  | $ | 272,077 |  |  | $ | 1,092,183 |  |  | $ | 711,972 |
Adjusted EBITDA |  |  |  |  |  |  |  |
Motorized |  | $ | 12,598 |  |  | $ | 16,218 |  |  | $ | 31,738 |  |  | $ | 39,683 |
Towable |  | 34,730 |  |  | 1,512 |  |  | 59,340 |  |  | 4,134 |
Consolidated |  | $ | 47,328 |  |  | $ | 17,730 |  |  | $ | 91,078 |  |  | $ | 43,817 |
Capital Expenditures |  |  |  |  |  |  |  |
Motorized |  | $ | 1,527 |  |  | $ | 3,498 |  |  | $ | 6,626 |  |  | $ | 19,364 |
Towable |  | 1,275 |  |  | 73 |  |  | 3,114 |  |  | 564 |
Consolidated |  | $ | 2,802 |  |  | $ | 3,571 |  |  | $ | 9,740 |  |  | $ | 19,928 |
Total Assets |  |  |  |  |  |  |  |
Motorized |  | $ | 319,912 |  |  | $ | 354,481 |  |  | $ | 319,912 |  |  | $ | 354,481 |
Towable |  | 570,439 |  |  | 25,556 |  |  | 570,439 |  |  | 25,556 |
Consolidated |  | $ | 890,351 |  |  | $ | 380,037 |  |  | $ | 890,351 |  |  | $ | 380,037 |
Reconciliation of net income to consolidated Adjusted EBITDA:
|  | Three Months Ended |  | Nine Months Ended
(In thousands) |  | May 27, 2017 |  | May 28, 2016 |  | May 27, 2017 |  | May 28, 2016
Net income |  | $ | 19,391 |  |  | $ | 14,438 |  |  | $ | 46,407 |  |  | $ | 32,350 |
Interest expense |  | 5,265 |  |  | — |  |  | 11,571 |  |  | — |
Provision for income taxes |  | 10,258 |  |  | 6,232 |  |  | 23,794 |  |  | 14,699 |
Depreciation |  | 1,859 |  |  | 1,480 |  |  | 5,287 |  |  | 4,243 |
Amortization of intangible assets |  | 10,159 |  |  | — |  |  | 22,578 |  |  | — |
EBITDA |  | 46,932 |  |  | 22,150 |  |  | 109,637 |  |  | 51,292 |
Postretirement health care benefit income |  | — |  |  | (1,593 | ) |  | (24,796 | ) |  | (4,531 | )
Legal settlement |  | — |  |  | (2,750 | ) |  | — |  |  | (2,750 | )
Transaction costs |  | 450 |  |  | — |  |  | 6,374 |  |  | — |
Non-operating income |  | (54 | ) |  | (77 | ) |  | (137 | ) |  | (194 | )
Adjusted EBITDA |  | $ | 47,328 |  |  | $ | 17,730 |  |  | $ | 91,078 |  |  | $ | 43,817 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration