XML 17 R6.htm IDEA: XBRL DOCUMENT v3.22.2
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)