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v3.25.3

Income Taxes (Tables) | 12 Months Ended
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Aug. 30, 2025
Income Tax Disclosure [Abstract] |
Schedule of Income Tax Expense | Income tax expense consisted of the following:
(in millions) | 2025 |  | 2024 |  | 2023
Current |  |  |  |  |
Federal | $ | (0.8) |  |  | $ | 10.4 |  |  | $ | 38.2 |
State | 2.3 |  |  | 6.9 |  |  | 8.8 |
Total | 1.5 |  |  | 17.3 |  |  | 47.0 |
Deferred |  |  |  |  |
Federal | 5.3 |  |  | 7.1 |  |  | 15.9 |
State | (2.4) |  |  | 1.0 |  |  | 0.4 |
Total | 2.9 |  |  | 8.1 |  |  | 16.3 |
Income tax provision | $ | 4.4 |  |  | $ | 25.4 |  |  | $ | 63.3 |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the U.S. statutory income tax rate to our effective income tax rate is as follows:
| 2025 |  | 2024 |  | 2023
U.S. federal statutory rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State taxes, net of federal benefit | 2.3 | % |  | 8.4 | % |  | 3.1 | %
Income tax credits | (10.1) | % |  | (8.9) | % |  | (1.1) | %
Non-deductible compensation | 7.6 | % |  | 6.6 | % |  | 1.1 | %
Non-deductible debt inducement | — | % |  | 19.4 | % |  | — | %
Non-deductible goodwill impairment | — | % |  | 16.6 | % |  | — | %
Valuation allowance | (0.3) | % |  | 5.0 | % |  | — | %
Tax-free and dividend income | (1.2) | % |  | (1.1) | % |  | (0.1) | %
Uncertain tax position settlements and adjustments | (2.1) | % |  | (1.7) | % |  | 0.1 | %
Other items | (2.7) | % |  | 0.9 | % |  | (1.4) | %
Effective tax provision rate | 14.5 | % |  | 66.2 | % |  | 22.7 | %
Schedule of Deferred Income Taxes | The tax effects of temporary differences that give rise to deferred income taxes were as follows:
(in millions) | August 30, 2025 |  | August 31, 2024
Warranty reserves | $ | 17.9 |  |  | $ | 19.3 |
Deferred compensation | 1.7 |  |  | 2.5 |
Self-insurance reserve | 3.6 |  |  | 4.4 |
Stock-based compensation | 4.2 |  |  | 4.5 |
Leases | 13.4 |  |  | 15.0 |
Convertible notes | 13.7 |  |  | 16.5 |
Capitalized research and development costs | 29.6 |  |  | 23.8 |
Other | 15.6 |  |  | 14.0 |
Valuation allowance | (1.8) |  |  | (1.9) |
Interest limitation | 12.5 |  |  | 4.1 |
Total deferred tax assets | 110.4 |  |  | 102.2 |
Intangibles | 73.3 |  |  | 61.5 |
Depreciation | 30.9 |  |  | 30.2 |
Leases | 12.1 |  |  | 13.5 |
Total deferred tax liabilities | 116.3 |  |  | 105.2 |
Total deferred income tax liabilities, net | $ | 5.9 |  |  | $ | 3.0 |
Schedule of Unrecognized Tax Benefits | Changes in the unrecognized tax benefits are as follows:
(in millions) | 2025 |  | 2024 |  | 2023
Balance at beginning of year | $ | 4.9 |  |  | $ | 5.5 |  |  | $ | 5.0 |
Gross decreases-tax positions in a prior year | (1.3) |  |  | (1.7) |  |  | (1.5) |
Gross increases-tax positions in a prior year | — |  |  | 0.2 |  |  | 1.0 |
Gross increases-current year tax positions | 0.8 |  |  | 0.9 |  |  | 1.0 |
Balance at end of year | 4.4 |  |  | 4.9 |  |  | 5.5 |
Accrued interest and penalties | 0.4 |  |  | 0.5 |  |  | 0.6 |
Total unrecognized tax benefits | $ | 4.8 |  |  | $ | 5.4 |  |  | $ | 6.1 |

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