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Business Segments (Tables) | 9 Months Ended
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May 27, 2023
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 millions) | May 27, 2023 |  | May 28, 2022 |  | May 27, 2023 |  | May 28, 2022
Net Revenues |  |  |  |  |  |  |
Towable RV | $ | 384.1 |  |  | $ | 805.6 |  |  | $ | 1,073.9 |  |  | $ | 2,103.2 |
Motorhome RV | 374.4 |  |  | 516.3 |  |  | 1,242.4 |  |  | 1,355.4 |
Marine | 129.0 |  |  | 126.5 |  |  | 373.3 |  |  | 303.2 |
Corporate / All Other | 13.3 |  |  | 9.7 |  |  | 30.1 |  |  | 16.8 |
Consolidated | $ | 900.8 |  |  | $ | 1,458.1 |  |  | $ | 2,719.7 |  |  | $ | 3,778.6 |
Adjusted EBITDA |  |  |  |  |  |  |
Towable RV | $ | 53.8 |  |  | $ | 117.8 |  |  | $ | 129.4 |  |  | $ | 330.4 |
Motorhome RV | 26.8 |  |  | 64.4 |  |  | 119.6 |  |  | 160.6 |
Marine | 17.3 |  |  | 19.8 |  |  | 50.2 |  |  | 43.3 |
Corporate / All Other | (1.5) |  |  | (10.3) |  |  | (17.4) |  |  | (24.6) |
Consolidated | $ | 96.4 |  |  | $ | 191.7 |  |  | $ | 281.8 |  |  | $ | 509.7 |
Capital Expenditures |  |  |  |  |  |  |
Towable RV | $ | 3.4 |  |  | $ | 12.6 |  |  | $ | 23.9 |  |  | $ | 34.0 |
Motorhome RV | 8.9 |  |  | 0.6 |  |  | 23.7 |  |  | 16.2 |
Marine | 4.4 |  |  | 6.0 |  |  | 17.0 |  |  | 8.6 |
Corporate / All Other | 1.9 |  |  | 0.6 |  |  | 3.4 |  |  | 4.4 |
Consolidated | $ | 18.6 |  |  | $ | 19.8 |  |  | $ | 68.0 |  |  | $ | 63.2 |
(in millions) | May 27, 2023 |  | August 27, 2022
Assets |  |  |
Towable RV | $ | 818.4 |  |  | $ | 874.9 |
Motorhome RV | 802.2 |  |  | 823.4 |
Marine | 434.4 |  |  | 416.1 |
Corporate / All Other | 357.8 |  |  | 302.3 |
Consolidated | $ | 2,412.8 |  |  | $ | 2,416.7 |
Reconciliation of net income to consolidated Adjusted EBITDA is as follows:
| Three Months Ended |  | Nine Months Ended
(in millions) | May 27, 2023 |  | May 28, 2022 |  | May 27, 2023 |  | May 28, 2022
Net income | $ | 59.1 |  |  | $ | 117.2 |  |  | $ | 172.1 |  |  | $ | 308.0 |
Interest expense, net | 5.2 |  |  | 10.5 |  |  | 16.4 |  |  | 31.1 |
Provision for income taxes | 16.0 |  |  | 37.3 |  |  | 52.4 |  |  | 96.2 |
Depreciation | 7.6 |  |  | 6.3 |  |  | 20.9 |  |  | 17.0 |
Amortization | 4.4 |  |  | 8.0 |  |  | 12.0 |  |  | 24.2 |
EBITDA | 92.3 |  |  | 179.3 |  |  | 273.8 |  |  | 476.5 |
Acquisition-related costs | 3.9 |  |  | 0.7 |  |  | 5.6 |  |  | 4.6 |
Litigation reserves | — |  |  | — |  |  | — |  |  | 4.0 |
Contingent consideration fair value adjustment | — |  |  | 11.8 |  |  | 2.0 |  |  | 24.7 |
Non-operating loss (income) | 0.2 |  |  | (0.1) |  |  | 0.4 |  |  | (0.1) |
Adjusted EBITDA | $ | 96.4 |  |  | $ | 191.7 |  |  | $ | 281.8 |  |  | $ | 509.7 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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