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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Nov. 27, 2021
Nov. 28, 2020
Operating activities    
Net income $ 99,630 $ 57,423
Adjustments to reconcile net income to net cash provided by (used in) operating activities    
Depreciation 5,306 4,160
Amortization 8,172 3,590
Non-cash interest expense, net 3,627 3,351
Amortization of debt issuance costs 613 606
Last in, first-out expense 437 276
Stock-based compensation 2,711 2,354
Deferred income taxes (185) 872
Contingent consideration fair value adjustment 6,370 0
Other, net 2,312 (3,329)
Change in operating assets and liabilities, net of assets and liabilities acquired    
Receivables, net (7,210) (10,380)
Inventories, net (70,340) (80,472)
Prepaid expenses and other assets 4,852 583
Accounts payable (17,704) (8,371)
Income taxes and unrecognized tax benefits 24,664 16,556
Accrued expenses and other liabilities (6,706) 10,111
Net cash provided by (used in) operating activities 56,549 (2,670)
Investing activities    
Purchases of property, plant, and equipment (23,215) (8,689)
Acquisition of business, net of cash acquired (228,159) 0
Proceeds from the sale of property, plant, and equipment 0 7,775
Other, net (36) (234)
Net cash used in investing activities (251,410) (1,148)
Financing activities    
Borrowings on long-term debt 932,566 798,359
Repayments on long-term debt (932,566) (798,359)
Payments of cash dividends (6,010) (4,046)
Payments for repurchases of common stock (23,723) (11,606)
Other, net 1,415 (166)
Net cash used in financing activities (28,318) (15,818)
Net decrease in cash and cash equivalents (223,179) (19,636)
Cash and cash equivalents at beginning of period 434,563 292,575
Cash and cash equivalents at end of period 211,384 272,939
Supplemental Disclosures    
Income taxes paid (received), net 8,716 (195)
Interest paid 4,765 2,377
Non-cash investing and financing activities    
Issuance of common stock for acquisition of business 22,000 0
Capital expenditures in accounts payable $ 1,101 $ 613