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Business Combinations (Tables) | 12 Months Ended
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Aug. 27, 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 |
Schedule of Business Acquisitions, by Acquisition | The following table summarizes the total consideration paid for Newmar, which was subject to purchase price adjustments of $3.3 million as stipulated in the Purchase Agreement:
(in thousands, except for share data) | November 8, 2019
Cash | $ | 264,434 |
Winnebago Industries shares: 2,000,000 at $46.29 | 92,572 |
Total | $ | 357,006 |
Schedule of Pro Forma Information | The following table provides net revenues and operating loss from the Newmar operating segment included in the consolidated results following the November 8, 2019 closing date:
| 2020
Net revenues | $ | 388,383 |
Operating loss | (3,642) |
The following unaudited pro forma information represents our results of operations as if the Fiscal 2020 acquisition of Newmar had occurred at the beginning of Fiscal 2020:
| 2020
Net revenues | $ | 2,508,792 |
Net income | 72,609 |
Earnings per share - basic | $ | 2.16 |
Earnings per share - diluted | $ | 2.11 |
Pro Forma Data With Non-Recurring Adjustments | The unaudited pro forma data above includes the following significant non-recurring adjustments made to account for certain costs which would have changed if the acquisition of Newmar had occurred at the beginning of Fiscal 2020:
| 2020
Amortization of intangibles (1 year or less useful life)(1) | $ | 13,610 |
Increase in amortization of intangible assets(2) | (1,061) |
Expenses related to business combination (transaction costs)(3) | 9,761 |
Interest to reflect new debt structure(4) | (4,356) |
Taxes related to the adjustments to the pro forma data and to the net income of Newmar(5) | (2,968) |
(1) Includes amortization adjustments for the backlog intangible asset and the fair-value inventory adjustment. (2) Includes amortization adjustments for the dealer network and non-compete intangible assets. (3) Includes transaction costs related to the Newmar acquisition that were expensed in Fiscal 2020. (4) Includes adjustments for cash and non-cash interest expense as well as deferred financing costs. Refer to Note 9 for additional information on our debt structure as a result of the acquisition. (5) Calculated using our U.S. federal statutory rate of 21.0%.

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- Definition Tabular disclosure of the nature and amount of any material, nonrecurring adjustments directly attributable to the business combination(s) included in the reported pro forma revenue and earnings (supplemental pro forma information). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(4) -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472 + Details
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