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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	May 25, 2019	Jun. 14, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	WINNEBAGO INDUSTRIES INC
Entity Central Index Key	0000107687
Current Fiscal Year End Date	--08-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	May 25, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		31,618,011
Entity Current Reporting Status	Yes
Entity Shell Company	false

Consolidated Statements of Income and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	May 25, 2019	May 26, 2018	May 25, 2019	May 26, 2018
Net revenues	$ 528,940	$ 562,261	$ 1,455,278	$ 1,480,641
Cost of goods sold	442,356	476,747	1,231,269	1,264,635
Gross profit	86,584	85,514	224,009	216,006
Selling, general, and administrative expenses	35,332	35,304	106,303	95,381
Amortization of intangible assets	2,278	1,933	7,204	5,921
Total operating expenses	37,610	37,237	113,507	101,302
Operating income	48,974	48,277	110,502	114,704
Interest expense	4,446	4,172	13,293	13,871
Non-operating income	(360)	(100)	(1,330)	(212)
Income before income taxes	44,888	44,205	98,539	101,045
Provision for income taxes	8,717	11,684	18,609	28,478
Net income	$ 36,171	$ 32,521	$ 79,930	$ 72,567
Income per common share:
Basic	$ 1.15	$ 1.03	$ 2.53	$ 2.30
Diluted	$ 1.14	$ 1.02	$ 2.52	$ 2.28
Weighted average common shares outstanding:
Basic (in shares)	31,493	31,582	31,546	31,617
Diluted (in shares)	31,644	31,753	31,722	31,825
Other comprehensive income (loss):
Amortization of net actuarial loss (net of tax of $3, $3, $8, and $9)	$ 8	$ 7	$ 24	$ 20
Change in fair value of interest rate swap (net of tax of $114, $42, $327, and $877)	(362)	129	(1,018)	2,046
Total other comprehensive income (loss)	(354)	136	(994)	2,066
Comprehensive income	$ 35,817	$ 32,657	$ 78,936	$ 74,633

Consolidated Statements of Operations and Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 25, 2019	May 26, 2018	May 25, 2019	May 26, 2018
Amortization of net actuarial loss, tax	$ 3	$ 3	$ 8	$ 9
Change in fair value of interest rate swap, tax	$ 114	$ 42	$ 327	$ 877

Consolidated Balance Sheets - USD ($) $ in Thousands	May 25, 2019	Aug. 25, 2018
Current assets:
Cash and cash equivalents	$ 4,176	$ 2,342
Receivables, less allowance for doubtful accounts ($163 and $197, respectively)	185,546	164,585
Inventories, net	190,883	195,128
Prepaid expenses and other assets	10,480	9,883
Total current assets	391,085	371,938
Property, plant, and equipment, net	121,977	101,193
Other assets:
Goodwill	275,657	274,370
Other intangible assets, net	258,513	265,717
Investment in life insurance	27,111	28,297
Other assets	8,860	10,290
Total assets	1,083,203	1,051,805
Current liabilities:
Accounts payable	84,304	81,039
Income taxes payable	0	15,655
Accrued expenses:
Accrued compensation	27,288	29,350
Product warranties	43,624	40,498
Self-insurance	13,316	12,262
Promotional	15,046	11,017
Accrued interest	3,963	3,095
Other	10,810	11,269
Current maturities of long-term debt	6,500	0
Total current liabilities	204,851	204,185
Non-current liabilities:
Long-term debt, less current maturities	253,071	291,441
Deferred income taxes	5,255	4,457
Unrecognized tax benefits	3,501	1,745
Deferred compensation benefits, net of current portion	13,161	15,282
Other	371	250
Total non-current liabilities	275,359	313,175
Stockholders' equity:
Preferred stock, par value $0.01: Authorized-10,000 shares; Issued-none	0	0
Common stock, par value $0.50: Authorized-60,000 shares; Issued-51,776 shares	25,888	25,888
Additional paid-in capital	89,896	86,223
Retained earnings	838,506	768,816
Accumulated other comprehensive (loss) income	(102)	892
Treasury stock, at cost: 20,271 and 20,243 shares, respectively	(351,195)	(347,374)
Total stockholders' equity	602,993	534,445
Total liabilities and stockholders' equity	$ 1,083,203	$ 1,051,805

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	May 25, 2019	Aug. 25, 2018
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 163	$ 197
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000	10,000
Preferred stock, shares issued	0	0
Capital stock common, par value	$ 0.50	$ 0.50
Capital stock common, shares authorized	60,000	60,000
Capital stock common, shares issued	51,776	51,776
Treasury stock, at cost, shares	20,271	20,243

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	May 25, 2019	May 26, 2018
Operating activities:
Net income	$ 79,930	$ 72,567
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	9,788	6,679
Amortization of intangible assets	7,204	5,921
Amortization of debt issuance costs	1,186	1,222
Last in, first-out expense	1,544	1,238
Stock-based compensation	5,735	4,983
Deferred income taxes	362	4,807
Other, net	1,265	194
Change in assets and liabilities:
Receivables	(20,961)	(24,595)
Inventories	2,701	(36,351)
Prepaid expenses and other assets	(653)	3,320
Accounts payable	3,954	9,617
Income taxes and unrecognized tax benefits	(13,898)	(1,081)
Accrued expenses and other liabilities	4,692	12,491
Net cash provided by operating activities	82,849	61,012
Investing activities:
Purchases of property and equipment	(31,681)	(18,123)
Acquisition of business, net of cash acquired	(702)	0
Proceeds from the sale of property	134	316
Other, net	1,752	(83)
Net cash used in investing activities	(30,497)	(17,890)
Financing activities:
Borrowings on credit agreement	342,549	19,700
Repayments of credit agreement	(375,438)	(43,700)
Payments of cash dividends	(10,201)	(9,557)
Payments for repurchases of common stock	(7,724)	(6,481)
Other, net	296	0
Net cash used in financing activities	(50,518)	(40,038)
Net increase in cash and cash equivalents	1,834	3,084
Cash and cash equivalents at beginning of period	2,342	35,945
Cash and cash equivalents at end of period	4,176	39,029
Supplemental cash flow disclosure:
Income taxes paid, net	33,852	24,833
Interest paid	10,335	11,935
Non-cash transactions:
Capital expenditures in accounts payable	$ 9	$ 607

Condensed Consolidated Stockholders' Statement of Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Shares	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock
Beginning balance at Aug. 26, 2017	$ 441,674	$ 25,888	$ 80,401	$ 679,138	$ (1,023)	$ (342,730)
Beginning balance (in shares) at Aug. 26, 2017		51,776				(20,183)
Stock-based compensation	5,465		5,403			$ 62
Stock-based compensation (in shares)						4
Issuance of restricted stock	87		(1,625)			$ 1,712
Issuance of restricted stock (in shares)						101
Repurchase of common stock	(6,481)					$ (6,481)
Repurchase of common stock (in shares)						(169)
Common stock dividends	(9,557)			(9,557)
Amortization of net actuarial loss (net of tax of $3, $3, $8, and $9)	20				20
Change in fair value of interest rate swap (net of tax of $114, $42, $327, and $877)	2,046				2,046
Net income	72,567			72,567
Ending balance at May. 26, 2018	505,821	$ 25,888	84,179	742,148	1,043	$ (347,437)
Ending balance (in shares) at May. 26, 2018		51,776				(20,247)
Beginning balance at Feb. 24, 2018	477,809	$ 25,888	80,721	712,809	907	$ (342,516)
Beginning balance (in shares) at Feb. 24, 2018		51,776				(20,117)
Stock-based compensation	3,540		3,515			$ 25
Stock-based compensation (in shares)						2
Issuance of restricted stock	0		(57)			$ 57
Issuance of restricted stock (in shares)						3
Repurchase of common stock	(5,003)					$ (5,003)
Repurchase of common stock (in shares)						(135)
Common stock dividends	(3,182)			(3,182)
Amortization of net actuarial loss (net of tax of $3, $3, $8, and $9)	7				7
Change in fair value of interest rate swap (net of tax of $114, $42, $327, and $877)	129				129
Net income	32,521			32,521
Ending balance at May. 26, 2018	505,821	$ 25,888	84,179	742,148	1,043	$ (347,437)
Ending balance (in shares) at May. 26, 2018		51,776				(20,247)
Beginning balance at Aug. 25, 2018	534,445	$ 25,888	86,223	768,816	892	$ (347,374)
Beginning balance (in shares) at Aug. 25, 2018		51,776				(20,243)
Stock-based compensation	5,752		5,683			$ 69
Stock-based compensation (in shares)						4
Issuance of restricted stock	1,528		(2,056)			$ 3,584
Issuance of restricted stock (in shares)						208
Issuance of stock under ESPP	296		46			$ 250
Issuance of stock under ESPP (in shares)						15
Repurchase of common stock	(7,724)					$ (7,724)
Repurchase of common stock (in shares)						(255)
Common stock dividends	(10,240)			(10,240)
Amortization of net actuarial loss (net of tax of $3, $3, $8, and $9)	24				24
Change in fair value of interest rate swap (net of tax of $114, $42, $327, and $877)	(1,018)				(1,018)
Net income	79,930			79,930
Ending balance at May. 25, 2019	602,993	$ 25,888	89,896	838,506	(102)	$ (351,195)
Ending balance (in shares) at May. 25, 2019		51,776				(20,271)
Beginning balance at Feb. 23, 2019	570,666	$ 25,888	89,682	805,851	252	$ (351,007)
Beginning balance (in shares) at Feb. 23, 2019		51,776				(20,292)
Stock-based compensation	1,130		1,118			$ 12
Stock-based compensation (in shares)						1
Issuance of restricted stock	0		(904)			$ 904
Issuance of restricted stock (in shares)						52
Repurchase of common stock	(1,104)					$ (1,104)
Repurchase of common stock (in shares)						(32)
Common stock dividends	(3,516)			(3,516)
Amortization of net actuarial loss (net of tax of $3, $3, $8, and $9)	8				8
Change in fair value of interest rate swap (net of tax of $114, $42, $327, and $877)	(362)				(362)
Net income	36,171			36,171
Ending balance at May. 25, 2019	$ 602,993	$ 25,888	$ 89,896	$ 838,506	$ (102)	$ (351,195)
Ending balance (in shares) at May. 25, 2019		51,776				(20,271)

Condensed Consolidated Stockholders' Statement of Equity Condensed Consolidated Stockholders' Statement of Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	May 25, 2019	May 26, 2018	May 25, 2019	May 26, 2018
Statement of Stockholders' Equity [Abstract]
Dividends paid per common share	$ 0.11	$ 0.10	$ 0.32	$ 0.30

Basis of Presentation	9 Months Ended
Basis of Presentation	May 25, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Unless the context otherwise requires, the use of the terms "Winnebago Industries," "WGO," "we," "us," and "our" in these Notes to Condensed Consolidated Financial Statements refers to Winnebago Industries, Inc. and its wholly-owned subsidiaries. In the opinion of management, the accompanying Condensed Consolidated Financial Statements contain all adjustments necessary for a fair presentation as prescribed by accounting principles generally accepted in the United States (“GAAP”). All adjustments were comprised of normal recurring adjustments, except as noted in these Notes to Condensed Consolidated Financial Statements. Interim results are not necessarily indicative of the results to be expected for the full year. The interim Condensed Consolidated Financial Statements included in this Quarterly Report on Form 10-Q should be read in conjunction with the audited Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended August 25, 2018. Fiscal Period We follow a 52-/53-week fiscal year, ending the last Saturday in August. Fiscal 2019 is a 53-week year, while Fiscal 2018 was a 52-week year. The extra (53rd) week in Fiscal 2019 will be recognized in our fourth quarter. Subsequent Events In preparing the accompanying unaudited Condensed Consolidated Financial Statements, we evaluated subsequent events for potential recognition and disclosure through the date of this filing. There were no material subsequent events. New Accounting Pronouncements In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update (“ASU”) 2016-02, Leases (Topic 842), which requires an entity to recognize both assets and liabilities arising from financing and operating leases, along with additional qualitative and quantitative disclosures. This ASU and the related amendments must be adopted on a modified retrospective basis to either each prior reporting period presented or as of the beginning of the period of adoption. Based on the effective dates, we expect to adopt the new guidance in the first quarter of Fiscal 2020 using the modified retrospective basis as of the beginning of the period of adoption. We have established an implementation plan and have made progress on this plan including surveying our businesses, assessing our lease population, and compiling information on our active leases. In addition, we are determining needed changes to our policies, business processes, internal controls, and disclosures. Based on our analysis, we do not expect a material impact to our consolidated financial statements. In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815), which improves the financial reporting of hedging relationships to better portray the economic results of an entity's risk management activities in its financial statements. ASU 2017-12 is effective for annual reporting periods beginning after December 15, 2018 (our Fiscal 2020), including interim periods within those annual reporting periods. Early adoption is permitted. We expect to adopt the new guidance in the first quarter of Fiscal 2020, and we do not expect a material impact to our consolidated financial statements. Recently Adopted Accounting Pronouncements In the first quarter of Fiscal 2019, we adopted ASU 2014-09, Revenue from Contracts with Customers (Topic 606), which establishes a comprehensive five-step model for the recognition of revenue from contracts with customers. This model is based on the core principle that revenue should be recognized to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. We elected the modified retrospective method of adoption, which we applied to contracts not completed as of the initial date of adoption. Application of the transition requirements had no material impact on operations or beginning retained earnings. While certain control processes and procedures were updated for this adoption, the changes did not have a material impact on our internal control over financial reporting framework. Also in the first quarter of Fiscal 2019, we retrospectively adopted ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments (Topic 230), which provides guidance for eight specific cash flow issues with the objective of reducing the existing diversity in practice. The adoption of this standard did not materially impact our statements of cash flows, and no cash flow reclassifications were required for the prior period.

Business Segments Business Segments (Notes)

9 Months Ended

May 25, 2019

Segment Reporting [Abstract]

Business Segments

In the fourth quarter of Fiscal 2018, we revised our segment presentation. We have five operating segments: 1) Winnebago motorhomes, 2) Winnebago towables, 3) Grand Design towables, 4) Winnebago specialty vehicles, and 5) Chris-Craft marine. We evaluate performance based on each operating segment's Adjusted EBITDA, as defined below, which excludes certain corporate administration expenses and non-operating income and expense.

Our two reportable segments include: 1) Motorhome (comprised of products that include a motorized chassis as well as other related manufactured products and services) and 2) Towable (comprised of products which are not motorized and are generally towed by another vehicle as well as other related manufactured products and services), which is an aggregation of the Winnebago towables and Grand Design towables operating segments.

The Corporate / All Other category includes the Winnebago specialty vehicles and Chris-Craft marine operating segments as well as expenses related to certain corporate administration expenses for the oversight of the enterprise. These expenses include items such as corporate leadership and administration costs. Previously, these expenses were allocated to each operating segment.

Identifiable assets of the reportable segments exclude general corporate assets, which principally consist of cash and cash equivalents and certain deferred tax balances. The general corporate assets are included in the Corporate / All Other category.

Prior period segment information has been reclassified to conform to the current reportable segment presentation. The reclassifications included removing the corporate administration expenses from both the Motorhome and Towable reportable segments and removing Winnebago specialty vehicles from the Motorhome reportable segment, as we began to dedicate leadership and focus on these operations separately from our Winnebago motorhomes operations.

Our chief operating decision maker ("CODM") is our Chief Executive Officer. Our CODM relies on internal management reporting that analyzes consolidated results to the net earnings level and operating segment's Adjusted EBITDA. Our CODM has ultimate responsibility for enterprise decisions. Our CODM determines, in particular, resource allocation for, and monitors the performance of, the consolidated enterprise, the Motorhome segment, and the Towable segment. The operating segments' management have responsibility for operating decisions, allocating resources, and assessing performance within their respective segments. The accounting policies of both reportable segments are the same and are described in Note 1, Summary of Significant Accounting Policies, of the Notes to Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended August 25, 2018.

We evaluate the performance of our reportable segments based on Adjusted EBITDA. EBITDA is defined as net income before interest expense, provision for income taxes, and depreciation and amortization expense. Adjusted EBITDA is defined as net income before interest expense, provision for income taxes, depreciation and amortization expense, and other adjustments made in order to present comparable results from period to period. Examples of items excluded from Adjusted EBITDA include acquisition-related costs, restructuring expenses, and non-operating income.

The following table shows information by reportable segment:



	Three Months Ended						Nine Months Ended
(in thousands)	May 25, 2019			May 26, 2018			May 25, 2019			May 26, 2018
Net Revenues
Motorhome	$	160,239		$	244,870		$	506,229		$	632,148
Towable	346,811			313,016			890,335			839,039
Corporate / All Other	21,890			4,375			58,714			9,454
Consolidated	$	528,940		$	562,261		$	1,455,278		$	1,480,641

Adjusted EBITDA
Motorhome	$	381		$	11,677		$	16,716		$	22,264
Towable	57,172			45,378			121,638			115,066
Corporate / All Other	(1,679		)	(3,694		)	(9,539		)	(9,176		)
Consolidated	$	55,874		$	53,361		$	128,815		$	128,154

Capital Expenditures
Motorhome	$	2,543		$	2,643		$	7,933		$	7,383
Towable	4,810			3,805			21,335			10,740
Corporate / All Other	962			—			2,413			—
Consolidated	$	8,315		$	6,448		$	31,681		$	18,123

(in thousands)							May 25, 2019			August 25, 2018
Total Assets
Motorhome							$	336,334		$	322,048
Towable							637,371			626,588
Corporate / All Other							109,498			103,169
Consolidated							$	1,083,203		$	1,051,805

Reconciliation of net income to consolidated Adjusted EBITDA:



	Three Months Ended						Nine Months Ended
(in thousands)	May 25, 2019			May 26, 2018			May 25, 2019			May 26, 2018
Net income	$	36,171		$	32,521		$	79,930		$	72,567
Interest expense	4,446			4,172			13,293			13,871
Provision for income taxes	8,717			11,684			18,609			28,478
Depreciation	3,520			2,351			9,788			6,679
Amortization of intangible assets	2,278			1,933			7,204			5,921
EBITDA	55,132			52,661			128,824			127,516
Acquisition-related costs	—			800			—			850
Restructuring expenses	1,102			—			1,321			—
Non-operating income	(360		)	(100		)	(1,330		)	(212		)
Adjusted EBITDA	$	55,874		$	53,361		$	128,815		$	128,154

Revenue Revenue (Notes)

9 Months Ended

May 25, 2019

Revenue Recognition [Abstract]

Revenue Recognition

Revenue

The following table disaggregates revenue by reportable segment and product category:



	Three Months Ended				Nine Months Ended
(in thousands)	May 25, 2019		May 26, 2018		May 25, 2019		May 26, 2018
Net Revenues
Motorhome:
Class A	$	45,138	$	80,093	$	148,816	$	241,680
Class B	41,363		49,715		162,343		112,292
Class C	67,674		109,092		176,059		258,552
Other⁽¹⁾	6,064		5,970		19,011		19,624
Total Motorhome	160,239		244,870		506,229		632,148
Towable:
Fifth Wheel	201,561		179,046		519,093		474,075
Travel Trailer	140,709		130,286		358,497		355,681
Other⁽¹⁾	4,541		3,684		12,745		9,283
Total Towable	346,811		313,016		890,335		839,039
Corporate / All Other:
Other⁽²⁾	21,890		4,375		58,714		9,454
Total Corporate / All Other	21,890		4,375		58,714		9,454
Consolidated	$	528,940	$	562,261	$	1,455,278	$	1,480,641


(1)	Relates to parts, accessories, and services.


(2)	Relates to marine and specialty vehicle units, parts, accessories, and services.

We generate all of our operating revenue from contracts with customers. Our primary source of revenue is generated through the sale of manufactured motorized units, non-motorized towable units, and marine units to our independent dealer network (our customers). We also generate income through the sale of certain parts and services, acting as the principal in these arrangements. We apply the new revenue standard requirements to a portfolio of contracts (or performance obligations) with similar characteristics for transactions where it is expected that the effects on the financial statements of applying the revenue recognition guidance to the portfolio would not differ materially from applying this guidance to the individual contracts (or performance obligations) within that portfolio. Revenue is recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the transaction price consideration that we expect to receive in exchange for those goods or services. Control refers to the ability of the customer to direct the use of, and obtain substantially all of, the remaining benefits from the goods or services. Our transaction price consideration is fixed, unless otherwise disclosed below as variable consideration. We made an accounting policy election so that our revenue excludes sales and usage-based taxes collected.

Unit revenue

Unit revenue is recognized at a point-in-time when control passes, which generally occurs when the unit is shipped to or picked-up from our manufacturing facilities by the customer, which is consistent with our past practice. Our payment terms are typically before or on delivery, and do not include a significant financing component. The amount of consideration received and recorded to revenue varies with changes in marketing incentives and offers to our customers. These marketing incentives and offers to our customers are considered variable consideration. We adjust the estimate of revenue at the earlier of when the most likely amount of consideration we expect to receive changes or when the consideration becomes fixed.

Our contracts include some incidental items that are immaterial in the context of the contract. We have made an accounting policy election to not assess whether promised goods or services are performance obligations if they are immaterial in the context of the contract with the customer. We have made an accounting policy to account for any shipping and handling costs that occur after the transfer of control as a fulfillment cost that is accrued when control is transferred. Warranty obligations associated with the sale of a unit are assurance-type warranties that are a guarantee of the unit’s intended functionality and, therefore, do not represent a distinct performance obligation within the context of the contract. Contract costs incurred related to the sale of manufactured units are expensed at the point-in-time when the related revenue is recognized.

We do not have material contract assets or liabilities. We establish allowances for uncollectible receivables based on historical collection trends and write-off history.

Concentration of Risk

None of our dealer organizations accounted for more than 10% of our net revenue for the third quarter of Fiscal 2019 or for the third quarter of Fiscal 2018. In addition, none of our dealer organizations accounted for more than 10% of our net revenue for the first nine months of Fiscal 2019 or the first nine months of Fiscal 2018.

Derivatives, Investments and Fair Value Measurements (Notes)

9 Months Ended

May 25, 2019

Fair Value Disclosures [Abstract]

Derivatives, Investments and Fair Value Measurements

Derivatives, Investments, and Fair Value Measurements

Assets and Liabilities that are Measured at Fair Value on a Recurring Basis

We account for fair value measurements in accordance with Accounting Standards Codification ("ASC") 820, Fair Value Measurements and Disclosures, which defines fair value, establishes a framework for measurement, and expands disclosure about fair value measurement. The fair value hierarchy requires the use of observable market data when available. In instances in which the inputs used to measure fair value fall into different levels of the fair value hierarchy, the fair value measurement has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. Our assessment of the significance of a particular item to the fair value measurement in its entirety requires judgment, including the consideration of inputs specific to the asset or liability.

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The fair value hierarchy contains three levels as follows:

Level 1 - Unadjusted quoted prices that are available in active markets for the identical assets or liabilities at the measurement date.

Level 2 - Other observable inputs available at the measurement date, other than quoted prices included in Level 1, either directly or indirectly, including:


•	Quoted prices for similar assets or liabilities in active markets;


•	Quoted prices for identical or similar assets in nonactive markets;


•	Inputs other than quoted prices that are observable for the asset or liability; and


•	Inputs that are derived principally from or corroborated by other observable market data.

Level 3 - Unobservable inputs that cannot be corroborated by observable market data and reflect the use of significant management judgment. These values are generally determined using pricing models for which the assumptions utilize management’s estimates of market participant assumptions.

The following tables set forth by level within the fair value hierarchy our financial assets and liabilities that were accounted for at fair value on a recurring basis at May 25, 2019 and August 25, 2018 according to the valuation techniques we used to determine their fair values:



	Fair Value at		Fair Value Hierarchy
(in thousands)	May 25, 2019		Level 1		Level 2		Level 3
Assets that fund deferred compensation:
Domestic equity funds	$	439	$	357	$	82	$	—
International equity funds	108		52		56		—
Fixed income funds	155		22		133		—
Interest rate swap contract	614		—		614		—
Total assets at fair value	$	1,316	$	431	$	885	$	—



	Fair Value at		Fair Value Hierarchy
(in thousands)	August 25, 2018		Level 1		Level 2		Level 3
Assets that fund deferred compensation:
Domestic equity funds	$	1,143	$	1,114	$	29	$	—
International equity funds	139		120		19		—
Fixed income funds	223		132		91		—
Interest rate swap contract	1,959		—		1,959		—
Total assets at fair value	$	3,464	$	1,366	$	2,098	$	—

The following methods and assumptions were used to estimate the fair value of each class of financial instrument:

Assets that fund deferred compensation

Our assets that fund deferred compensation are marketable equity securities measured at fair value using quoted market prices and primarily consist of equity-based mutual funds. These securities are primarily classified as Level 1 as they are traded in an active market for which closing stock prices are readily available. These securities fund the Executive Share Option Plan and the Executive Deferred Compensation Plan. Refer to Note 10, Employee and Retiree Benefits, of the Notes to Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended August 25, 2018 for additional information regarding these plans.

The proportion of the assets that will fund options which expire within a year are included in Prepaid expenses and other assets in the accompanying Condensed Consolidated Balance Sheets. The remaining assets are classified as non-current and are included in Other assets.

Interest Rate Swap Contract

On January 23, 2017, we entered into an interest rate swap contract, which effectively fixed our interest rate on our $300.0 million term loan agreement ("Term Loan") for a notional amount that reduces each December during the swap contract. As of May 25, 2019, we had $120.0 million of our Term Loan fixed at an interest rate of 5.32%. As of August 25, 2018, we had $170.0 million of our Term Loan fixed at an interest rate of 5.32%. The swap contract expires on December 8, 2020.

The fair value of the interest rate swap is classified as Level 2 as it is determined based on observable market data. The asset is included in Other assets on the Condensed Consolidated Balance Sheets. The change in value is recorded to Accumulated other comprehensive (loss) income on the Condensed Consolidated Balance Sheets since the interest rate swap has been designated for hedge accounting.

Assets and Liabilities that are measured at Fair Value on a Nonrecurring Basis

Our non-financial assets, which include goodwill, intangible assets, and property, plant and equipment, are not required to be measured at fair value on a recurring basis. However, if certain triggering events occur, or if an annual impairment test is required, we must evaluate the non-financial asset for impairment. If an impairment has occurred, the asset is required to be recorded at the estimated fair value. No impairments were recorded for non-financial assets in the third quarter of Fiscal 2019 or the third quarter of Fiscal 2018.

Fair Value of Financial Instruments

Our financial instruments, other than those presented in the disclosures above, include cash, receivables, accounts payable, other payables, and long-term debt. The fair values of cash, receivables, accounts payable, and other payables approximated carrying values because of the short-term nature of these instruments. If these instruments were measured at fair value in the financial statements, they would be classified as Level 1 in the fair value hierarchy. See Note 9, Long-Term Debt, for information about the fair value of our long-term debt.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Inventories (Notes)

9 Months Ended

May 25, 2019

Inventory Disclosure [Abstract]

Inventories

Inventories consist of the following:



(in thousands)	May 25, 2019		August 25, 2018
Finished goods	$	42,876	$	26,513
Work-in-process	93,949		68,339
Raw materials	94,365		139,039
Total	231,190		233,891
Less last-in, first-out ("LIFO") reserve	40,307		38,763
Inventories, net	$	190,883	$	195,128

Inventory valuation methods consist of the following:



(in thousands)	May 25, 2019		August 25, 2018
LIFO basis	$	184,516	$	176,215
First-in, first-out basis	46,674		57,676
Total	$	231,190	$	233,891

The above value of inventories, before reduction for the LIFO reserve, approximates replacement cost at the respective dates.

Property, Plant, and Equipment (Notes)

9 Months Ended

May 25, 2019

Property, Plant and Equipment [Abstract]

Property, Plant, and Equipment

Property, plant, and equipment is stated at cost, net of accumulated depreciation and consists of the following:



(in thousands)	May 25, 2019		August 25, 2018
Land	$	8,686	$	6,747
Buildings and building improvements	112,898		94,622
Machinery and equipment	108,585		105,663
Software	28,152		23,388
Transportation	3,837		8,837
Property, plant, and equipment, gross	262,158		239,257
Less accumulated depreciation	140,181		138,064
Property, plant, and equipment, net	$	121,977	$	101,193

Depreciation expense was $3.5 million and $2.4 million during the third quarters of Fiscal 2019 and 2018, respectively, and $9.8 million and $6.7 million during the first nine months of Fiscal 2019 and 2018, respectively.

Goodwill and Intangible Assets Goodwill and Intangible Assets (Notes)

9 Months Ended

May 25, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

The changes in the carrying amount of goodwill by segment were as follows for the first nine months of Fiscal 2019 and 2018, of which there are no accumulated impairment losses:



(in thousands)	Towable		Corporate / All Other		Total
Balances at August 26, 2017	$	242,728	$	—	$	242,728
Grand Design purchase price adjustment⁽¹⁾	1,956		—		1,956
Balances at May 26, 2018	$	244,684	$	—	$	244,684

Balances at August 25, 2018	$	244,684	$	29,686	$	274,370
Chris-Craft purchase price adjustment⁽²⁾	—		1,287		1,287
Balances at May 25, 2019	$	244,684	$	30,973	$	275,657


(1)	Refer to Note 2, Business Combinations, of the Notes to Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended August 25, 2018 for additional information.

(2)

Purchase price adjustments of $0.7 million made for a working capital payment made in the first quarter of Fiscal 2019 and of $0.6 million for an adjustment to taxes recorded in the third quarter of Fiscal 2019. For additional information related to the acquisition of Chris-Craft USA, Inc., refer to Note 2, Business Combinations, of the Notes to Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended August 25, 2018.

Other intangible assets, net of accumulated amortization, consist of the following:



		May 25, 2019				August 25, 2018
(in thousands)	Weighted Average Life-Years	Cost		Accumulated Amortization		Cost		Accumulated Amortization
Trade names	Indefinite	$	177,250			$	177,250
Dealer networks	12.2	95,581		$	18,216	95,581		$	12,328
Backlog	0.5	19,527		19,527		19,527		19,135
Non-compete agreements	4.1	5,347		2,824		5,347		2,084
Leasehold interest-favorable	8.1	2,000		625		2,000		441
Other intangible assets, gross		299,705		41,192		299,705		33,988
Less accumulated amortization		41,192				33,988
Other intangible assets, net		$	258,513			$	265,717

The weighted average remaining amortization period for intangible assets as of May 25, 2019 was approximately 11 years.

Remaining estimated aggregate annual amortization expense by fiscal year is as follows:



(in thousands)	Amount
Fiscal 2019	$	2,283
Fiscal 2020	9,032
Fiscal 2021	9,032
Fiscal 2022	8,405
Fiscal 2023	8,197
Thereafter	44,314
Total amortization expense remaining	$	81,263

Warranty (Notes)

9 Months Ended

May 25, 2019

Product Warranties Disclosures [Abstract]

Warranty

We provide certain service and warranty on our products. From time to time, we also voluntarily incur costs for certain warranty-type expenses occurring after the normal warranty period to help protect the reputation of our products and the goodwill of our customers. Estimated costs related to product warranty are accrued at the time of sale and are based upon historical warranty and service claims experience. Adjustments are made to accruals as claim data and cost experience becomes available.

In addition to the costs associated with the contractual warranty coverage provided on our products, we also occasionally incur costs as a result of additional service actions not covered by our warranties, including product recalls and customer satisfaction actions. Although we estimate and reserve for the cost of these service actions, there can be no assurance that expense levels will remain at current levels or such reserves will continue to be adequate.

Changes in our product warranty liability are as follows:



	Three Months Ended						Nine Months Ended
(in thousands)	May 25, 2019			May 26, 2018			May 25, 2019			May 26, 2018
Balance at beginning of period	$	40,305		$	34,988		$	40,498		$	30,805
Provision	14,139			11,645			34,090			31,881
Claims paid	(10,820		)	(9,189		)	(30,964		)	(25,242		)
Balance at end of period	$	43,624		$	37,444		$	43,624		$	37,444

Long-Term Debt Long-Term Debt (Notes)

9 Months Ended

May 25, 2019

Debt Disclosure [Abstract]

Long-Term Debt

On November 8, 2016, we entered into a $125.0 million credit facility ("ABL") and a $300.0 million Term Loan with JPMorgan Chase Bank, N.A. ("Credit Agreement"). On December 8, 2017, we amended our Credit Agreement, which decreased the interest rate spread on the Term Loan and the ABL. As of September 21, 2018, the amount that may be borrowed under the ABL was increased to $165.0 million.

The Credit Agreement contains certain financial covenants. As of May 25, 2019, we are in compliance with all financial covenants of the Credit Agreement.

The components of long-term debt are as follows:



(in thousands)	May 25, 2019			August 25, 2018
ABL	$	5,643		$	38,532
Term Loan	260,000			260,000
Long-term debt, excluding debt issuance costs	265,643			298,532
Debt issuance cost, net	(6,072		)	(7,091		)
Long-term debt	259,571			291,441
Less current maturities	6,500			—
Long-term debt, less current maturities	$	253,071		$	291,441

As of May 25, 2019, the fair value of long-term debt, excluding debt issuance costs, was $264.3 million. As of August 25, 2018, the fair value of long-term debt, excluding debt issuance costs, approximated the carrying value.

Aggregate contractual maturities of debt in future fiscal years are as follows:



(in thousands)	Amount
Fiscal 2019	$	—
Fiscal 2020	10,250
Fiscal 2021	15,000
Fiscal 2022	15,000
Fiscal 2023	219,750
Total Term Loan	$	260,000

Employee and Retiree Benefits (Notes)

9 Months Ended

May 25, 2019

Retirement Benefits [Abstract]

Employee and Retiree Benefits

Deferred compensation liabilities are as follows:



(in thousands)	May 25, 2019		August 25, 2018
Non-qualified deferred compensation	$	13,459	$	14,831
Supplemental executive retirement plan	2,056		2,309
Executive share option plan	129		935
Executive deferred compensation plan	590		421
Officer stock-based compensation	—		1,528
Deferred compensation benefits	16,234		20,024
Less current portion⁽¹⁾	3,073		4,742
Deferred compensation benefits, net of current portion	$	13,161	$	15,282

(1) Included in Accrued compensation on the Condensed Consolidated Balance Sheets.

Contingent Liabilites and Commitments (Notes)	9 Months Ended
Contingent Liabilites and Commitments (Notes)	May 25, 2019
Commitments and Contingencies Disclosure [Abstract]
Contingent Liabilities and Commitments	Contingent Liabilities and Commitments Repurchase Commitments Generally, manufacturers in our industries enter into repurchase agreements with lending institutions which have provided wholesale floorplan financing to dealers. Most dealers are financed on a "floorplan" basis under which a bank or finance company lends the dealer all, or substantially all, of the purchase price, collateralized by a security interest in the units purchased. Our repurchase agreements generally provide that, in the event of default by the dealer on the agreement to pay the lending institution, we will repurchase the financed merchandise. The terms of these agreements, which generally can last up to 24 months, provide that our liability will be the lesser of remaining principal owed by the dealer to the lending institution, or dealer invoice less periodic reductions based on the time since the date of the original invoice. Our liability cannot exceed 100% of the dealer invoice. In certain instances, we also repurchase inventory from our dealers due to state law or regulatory requirements that govern voluntary or involuntary relationship terminations. Although laws vary from state to state, some states have laws in place that require manufacturers of recreational vehicles or boats to repurchase current inventory if a dealership exits the business. Our total contingent liability on all repurchase agreements was approximately $1.0 billion and $879.0 million at May 25, 2019 and August 25, 2018, respectively. Repurchased sales are not recorded as a revenue transaction, but the net difference between the original repurchase price and the resale price are recorded against the loss reserve, which is a deduction from gross revenue. Our loss reserve for repurchase commitments contains uncertainties because the calculation requires management to make assumptions and apply judgment regarding a number of factors. Our risk of loss related to these repurchase commitments is significantly reduced by the potential resale value of any products that are subject to repurchase and is spread over numerous dealers and lenders. The aggregate contingent liability related to our repurchase agreements represents all financed dealer inventory at the period reporting date subject to a repurchase agreement, net of the greater of periodic reductions per the agreement or dealer principal payments. Based on these repurchase agreements and our historical loss experience, we establish an associated loss reserve which is included in Accrued expenses: Other on the Condensed Consolidated Balance Sheets. Our accrued losses on repurchases were $0.9 million and $0.9 million at May 25, 2019 and August 25, 2018, respectively. Repurchase risk is affected by the credit worthiness of our dealer network, and we do not believe there is a reasonable likelihood that there will be a material change in the estimates or assumptions used to establish the loss reserve for repurchase commitments. There was no material activity related to repurchase agreements during the three and nine months ended May 25, 2019 and May 26, 2018. Litigation We are involved in various legal proceedings which are ordinary and routine litigation incidental to our business, some of which are covered in whole or in part by insurance. While we believe the ultimate disposition of litigation will not have a material adverse effect on our financial position, results of operations or liquidity, there exists the possibility that such litigation may have an impact on our results for a particular reporting period in which litigation effects become probable and reasonably estimable. Though we do not believe there is a reasonable likelihood that there will be a material change related to these matters, litigation is subject to inherent uncertainties and management’s view of these matters may change in the future.

Stock-Based Compensation	9 Months Ended
Stock-Based Compensation	May 25, 2019
Stockholders' Equity Note [Abstract]
Stock-Based Compensation	Stock-Based Compensation On December 11, 2018, our shareholders approved the Winnebago Industries, Inc. 2019 Omnibus Incentive Plan ("2019 Plan") as detailed in our Proxy Statement for the 2018 Annual Meeting of Shareholders. The 2019 Plan allows us to grant or issue non-qualified stock options, incentive stock options, share awards, and other equity compensation to key employees and to non-employee directors. The 2019 Plan replaces our 2014 Omnibus Equity, Performance Award, and Incentive Compensation Plan (as amended, the "2014 Plan"). The number of shares of our Common Stock that may be the subject of awards and issued under the 2019 Plan is 4.1 million, plus the shares subject to any awards outstanding under the 2014 Plan and our predecessor plan, the 2004 Incentive Compensation Plan (the “2004 Plan”), on December 11, 2018 that subsequently expire, are forfeited or canceled, or are settled for cash. Until such time, however, awards under the 2014 Plan and the 2004 Plan, respectively, that are outstanding on December 11, 2018 will continue to be subject to the terms of the 2014 Plan or 2004 Plan, as applicable. Shares remaining available for future awards under the 2014 Plan were not carried over into the 2019 Plan. Beginning with our annual grant of restricted stock units in October 2018, we attach dividend equivalents to our restricted stock units equal to dividends payable on the same number of shares of WGO common stock during the applicable period. Dividend equivalents, settled in cash, accrue on restricted stock unit awards during the vesting period. No dividend equivalents are paid on any restricted stock units that are forfeited prior to the vesting date. Stock-based compensation expense was $1.1 million and $1.4 million during the third quarters of Fiscal 2019 and 2018, respectively, and $5.7 million and $5.0 million during the first nine months of Fiscal 2019 and 2018, respectively. Compensation expense is recognized over the requisite service period of the award.

Restructuring Restructuring (Notes)

9 Months Ended

May 25, 2019

Restructuring [Abstract]

Restructuring

On February 4, 2019, we announced our intent to move our diesel production from Junction City, OR to Forest City, IA to enable more effective product development and improve our cost structure. The following table details the restructuring charges incurred:



	Motorhome
	Three Months Ended		Nine Months Ended
(in thousands)	May 25, 2019		May 25, 2019
Cost of goods sold	$	1,102	$	1,102
Selling, general, and administrative expenses	—		219
Restructuring expense	$	1,102	$	1,321

These expenses include employee-related costs and accelerated depreciation for assets that will no longer be used. Employee-related costs are expected to be paid in the fourth quarter of Fiscal 2019. We expect additional expenses of approximately $1.0 million in the fourth quarter of Fiscal 2019 and $1.0 million in Fiscal 2020, primarily related to asset-related charges and facility closure costs. We expect these expenses to be partially offset by the corresponding savings generated by the project.

Income Taxes (Notes)	9 Months Ended
Income Taxes (Notes)	May 25, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes We account for income taxes under ASC 740, Income Taxes. The objectives of accounting for income taxes are to recognize the amount of taxes payable or refundable for the current year and deferred tax liabilities and assets for the future tax consequences of events that have been recognized in our financial statements or tax returns. Our effective tax rate decreased to 18.9% for the nine months ended May 25, 2019 from 28.2% for the nine months ended May 26, 2018 due to the enactment of the 2017 Tax Cuts and Jobs Act ("Tax Act") on December 22, 2017 and net favorable discrete items, primarily attributable to R&D-related tax credits, which totaled $3.6 million or 3.7%. ASU 2018-05, Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118, provided guidance for companies that allowed for a measurement period of up to one year after the enactment date of the Tax Act to finalize the recording of the related tax impacts under ASC 740, Income Taxes. In accordance with this guidance, a company was required to reflect the income tax effect of those aspects of the Tax Act for which the accounting under ASC 740 is complete. To the extent that a company's accounting for certain income tax effects of the Tax Act was incomplete, but it was able to determine a reasonable estimate, the company was required to record a provisional estimate in the financial statements. In accordance with ASC 740, we recorded non-cash provisional estimates to income tax expense in Fiscal 2018 as a result of revaluing all deferred tax assets and liabilities at the newly enacted Federal corporate income tax rate. We have not made any measurement period adjustments related to these items during the first nine months of Fiscal 2019 and are complete in analyzing and recording all aspects of the enactment of the Tax Act. We file a U.S. Federal tax return as well as returns in various international and state jurisdictions. Although certain years are no longer subject to examination by the Internal Revenue Service ("IRS") and various state taxing authorities, net operating loss carryforwards generated in those years may still be adjusted upon examination by the IRS or state taxing authorities. As of May 25, 2019, our Federal returns from Fiscal 2015 to present continue to be subject to review by the IRS. With limited exception, our state returns from Fiscal 2014 to present continue to be subject to review by the state taxing jurisdictions. Several years may lapse before an uncertain tax position is audited and finally resolved, and it is difficult to predict the outcome of such audits. It is our policy to recognize interest and penalties accrued relative to unrecognized tax benefits in income tax expense. Total reserves for uncertain tax positions were not material.

Income Per Share (Notes)

9 Months Ended

May 25, 2019

Earnings Per Share [Abstract]

Income Per Share

The following table reflects the calculation of basic and diluted income per share:



	Three Months Ended				Nine Months Ended
(in thousands, except per share data)	May 25, 2019		May 26, 2018		May 25, 2019		May 26, 2018
Numerator
Net income	$	36,171	$	32,521	$	79,930	$	72,567

Denominator
Weighted average common shares outstanding	31,493		31,582		31,546		31,617
Dilutive impact of stock compensation awards	151		171		176		208
Weighted average common shares outstanding, assuming dilution	31,644		31,753		31,722		31,825

Anti-dilutive securities excluded from Weighted average common shares outstanding, assuming dilution	204		90		183		59

Basic income per common share	$	1.15	$	1.03	$	2.53	$	2.30
Diluted income per common share	$	1.14	$	1.02	$	2.52	$	2.28

Anti-dilutive securities were not included in the computation of diluted income per common share because they are considered anti-dilutive under the treasury stock method.

Accumulated Other Comprehensive Income (Loss)

9 Months Ended

May 25, 2019

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income (Loss)

Changes in Accumulated Other Comprehensive Income ("AOCI") by component, net of tax, were:



	Three Months Ended
	May 25, 2019									May 26, 2018
(in thousands)	Defined Benefit Pension Items			Interest Rate Swap			Total			Defined Benefit Pension Items			Interest Rate Swap			Total
Balance at beginning of period	$	(575	)	$	827		$	252		$	(496	)	$	1,403		$	907
Other comprehensive income ("OCI") before reclassifications	—			(362		)	(362		)	—			129			129
Amounts reclassified from AOCI	8			—			8			7			—			7
Net current-period OCI	8			(362		)	(354		)	7			129			136
Balance at end of period	$	(567	)	$	465		$	(102	)	$	(489	)	$	1,532		$	1,043

	Nine Months Ended
	May 25, 2019									May 26, 2018
(in thousands)	Defined Benefit Pension Items			Interest Rate Swap			Total			Defined Benefit Pension Items			Interest Rate Swap			Total
Balance at beginning of period	$	(591	)	$	1,483		$	892		$	(509	)	$	(514	)	$	(1,023	)
OCI before reclassifications	—			(1,018		)	(1,018		)	—			2,046			2,046
Amounts reclassified from AOCI	24			—			24			20			—			20
Net current-period OCI	24			(1,018		)	(994		)	20			2,046			2,066
Balance at end of period	$	(567	)	$	465		$	(102	)	$	(489	)	$	1,532		$	1,043

Reclassifications out of AOCI in net periodic benefit costs, net of tax, were:



		Three Months Ended				Nine Months Ended
(in thousands)	Location on Consolidated Statements of Income and Comprehensive Income	May 25, 2019		May 26, 2018		May 25, 2019		May 26, 2018
Amortization of net actuarial loss	SG&A	$	8	$	7	$	24	$	20

Basis of Presentation Summary of Significant Accounting Policies (Policies)	9 Months Ended
	May 25, 2019
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Unless the context otherwise requires, the use of the terms "Winnebago Industries," "WGO," "we," "us," and "our" in these Notes to Condensed Consolidated Financial Statements refers to Winnebago Industries, Inc. and its wholly-owned subsidiaries. In the opinion of management, the accompanying Condensed Consolidated Financial Statements contain all adjustments necessary for a fair presentation as prescribed by accounting principles generally accepted in the United States (“GAAP”). All adjustments were comprised of normal recurring adjustments, except as noted in these Notes to Condensed Consolidated Financial Statements. Interim results are not necessarily indicative of the results to be expected for the full year. The interim Condensed Consolidated Financial Statements included in this Quarterly Report on Form 10-Q should be read in conjunction with the audited Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended August 25, 2018.
Fiscal Period [Policy Text Block]	Fiscal Period We follow a 52-/53-week fiscal year, ending the last Saturday in August. Fiscal 2019 is a 53-week year, while Fiscal 2018 was a 52-week year. The extra (53rd) week in Fiscal 2019 will be recognized in our fourth quarter.
New Accounting Pronouncements [Text Block]	New Accounting Pronouncements In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update (“ASU”) 2016-02, Leases (Topic 842), which requires an entity to recognize both assets and liabilities arising from financing and operating leases, along with additional qualitative and quantitative disclosures. This ASU and the related amendments must be adopted on a modified retrospective basis to either each prior reporting period presented or as of the beginning of the period of adoption. Based on the effective dates, we expect to adopt the new guidance in the first quarter of Fiscal 2020 using the modified retrospective basis as of the beginning of the period of adoption. We have established an implementation plan and have made progress on this plan including surveying our businesses, assessing our lease population, and compiling information on our active leases. In addition, we are determining needed changes to our policies, business processes, internal controls, and disclosures. Based on our analysis, we do not expect a material impact to our consolidated financial statements. In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815), which improves the financial reporting of hedging relationships to better portray the economic results of an entity's risk management activities in its financial statements. ASU 2017-12 is effective for annual reporting periods beginning after December 15, 2018 (our Fiscal 2020), including interim periods within those annual reporting periods. Early adoption is permitted. We expect to adopt the new guidance in the first quarter of Fiscal 2020, and we do not expect a material impact to our consolidated financial statements.
Recently Adopted Accounting Pronouncements [Policy Text Block]	Recently Adopted Accounting Pronouncements In the first quarter of Fiscal 2019, we adopted ASU 2014-09, Revenue from Contracts with Customers (Topic 606), which establishes a comprehensive five-step model for the recognition of revenue from contracts with customers. This model is based on the core principle that revenue should be recognized to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. We elected the modified retrospective method of adoption, which we applied to contracts not completed as of the initial date of adoption. Application of the transition requirements had no material impact on operations or beginning retained earnings. While certain control processes and procedures were updated for this adoption, the changes did not have a material impact on our internal control over financial reporting framework. Also in the first quarter of Fiscal 2019, we retrospectively adopted ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments (Topic 230), which provides guidance for eight specific cash flow issues with the objective of reducing the existing diversity in practice. The adoption of this standard did not materially impact our statements of cash flows, and no cash flow reclassifications were required for the prior period.

Business Segments Business Segments (Tables)

9 Months Ended

May 25, 2019

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following table shows information by reportable segment:



	Three Months Ended						Nine Months Ended
(in thousands)	May 25, 2019			May 26, 2018			May 25, 2019			May 26, 2018
Net Revenues
Motorhome	$	160,239		$	244,870		$	506,229		$	632,148
Towable	346,811			313,016			890,335			839,039
Corporate / All Other	21,890			4,375			58,714			9,454
Consolidated	$	528,940		$	562,261		$	1,455,278		$	1,480,641

Adjusted EBITDA
Motorhome	$	381		$	11,677		$	16,716		$	22,264
Towable	57,172			45,378			121,638			115,066
Corporate / All Other	(1,679		)	(3,694		)	(9,539		)	(9,176		)
Consolidated	$	55,874		$	53,361		$	128,815		$	128,154

Capital Expenditures
Motorhome	$	2,543		$	2,643		$	7,933		$	7,383
Towable	4,810			3,805			21,335			10,740
Corporate / All Other	962			—			2,413			—
Consolidated	$	8,315		$	6,448		$	31,681		$	18,123

(in thousands)							May 25, 2019			August 25, 2018
Total Assets
Motorhome							$	336,334		$	322,048
Towable							637,371			626,588
Corporate / All Other							109,498			103,169
Consolidated							$	1,083,203		$	1,051,805

Reconciliation of net income to consolidated Adjusted EBITDA:



	Three Months Ended						Nine Months Ended
(in thousands)	May 25, 2019			May 26, 2018			May 25, 2019			May 26, 2018
Net income	$	36,171		$	32,521		$	79,930		$	72,567
Interest expense	4,446			4,172			13,293			13,871
Provision for income taxes	8,717			11,684			18,609			28,478
Depreciation	3,520			2,351			9,788			6,679
Amortization of intangible assets	2,278			1,933			7,204			5,921
EBITDA	55,132			52,661			128,824			127,516
Acquisition-related costs	—			800			—			850
Restructuring expenses	1,102			—			1,321			—
Non-operating income	(360		)	(100		)	(1,330		)	(212		)
Adjusted EBITDA	$	55,874		$	53,361		$	128,815		$	128,154

Revenue Revenue (Tables)

9 Months Ended

May 25, 2019

Revenue Recognition [Abstract]

Disaggregation of Revenue [Table Text Block]

The following table disaggregates revenue by reportable segment and product category:



	Three Months Ended				Nine Months Ended
(in thousands)	May 25, 2019		May 26, 2018		May 25, 2019		May 26, 2018
Net Revenues
Motorhome:
Class A	$	45,138	$	80,093	$	148,816	$	241,680
Class B	41,363		49,715		162,343		112,292
Class C	67,674		109,092		176,059		258,552
Other⁽¹⁾	6,064		5,970		19,011		19,624
Total Motorhome	160,239		244,870		506,229		632,148
Towable:
Fifth Wheel	201,561		179,046		519,093		474,075
Travel Trailer	140,709		130,286		358,497		355,681
Other⁽¹⁾	4,541		3,684		12,745		9,283
Total Towable	346,811		313,016		890,335		839,039
Corporate / All Other:
Other⁽²⁾	21,890		4,375		58,714		9,454
Total Corporate / All Other	21,890		4,375		58,714		9,454
Consolidated	$	528,940	$	562,261	$	1,455,278	$	1,480,641


(1)	Relates to parts, accessories, and services.


(2)	Relates to marine and specialty vehicle units, parts, accessories, and services.

Derivatives, Investments and Fair Value Measurements Derivatives, Investments and Fair Value Measurements (Tables)

9 Months Ended

May 25, 2019

Fair Value Disclosures [Abstract]

Fair Value, Assets and Liabilities Measured on Recurring Basis



	Fair Value at		Fair Value Hierarchy
(in thousands)	May 25, 2019		Level 1		Level 2		Level 3
Assets that fund deferred compensation:
Domestic equity funds	$	439	$	357	$	82	$	—
International equity funds	108		52		56		—
Fixed income funds	155		22		133		—
Interest rate swap contract	614		—		614		—
Total assets at fair value	$	1,316	$	431	$	885	$	—



	Fair Value at		Fair Value Hierarchy
(in thousands)	August 25, 2018		Level 1		Level 2		Level 3
Assets that fund deferred compensation:
Domestic equity funds	$	1,143	$	1,114	$	29	$	—
International equity funds	139		120		19		—
Fixed income funds	223		132		91		—
Interest rate swap contract	1,959		—		1,959		—
Total assets at fair value	$	3,464	$	1,366	$	2,098	$	—

Inventories Inventories (Tables)

9 Months Ended

May 25, 2019

Inventory Disclosure [Abstract]

Schedule of Inventory, Current [Table Text Block]

Inventories consist of the following:



(in thousands)	May 25, 2019		August 25, 2018
Finished goods	$	42,876	$	26,513
Work-in-process	93,949		68,339
Raw materials	94,365		139,039
Total	231,190		233,891
Less last-in, first-out ("LIFO") reserve	40,307		38,763
Inventories, net	$	190,883	$	195,128

Inventory valuation methods consist of the following:



(in thousands)	May 25, 2019		August 25, 2018
LIFO basis	$	184,516	$	176,215
First-in, first-out basis	46,674		57,676
Total	$	231,190	$	233,891

Property, Plant, and Equipment Property, Plant, and Equipment (Tables)

9 Months Ended

May 25, 2019

Property, Plant and Equipment [Abstract]

Property, Plant, and Equipment [Table Text Block]

Property, plant, and equipment is stated at cost, net of accumulated depreciation and consists of the following:



(in thousands)	May 25, 2019		August 25, 2018
Land	$	8,686	$	6,747
Buildings and building improvements	112,898		94,622
Machinery and equipment	108,585		105,663
Software	28,152		23,388
Transportation	3,837		8,837
Property, plant, and equipment, gross	262,158		239,257
Less accumulated depreciation	140,181		138,064
Property, plant, and equipment, net	$	121,977	$	101,193

Goodwill and Intangible Assets Goodwill and Intangible Assets (Tables)

9 Months Ended

May 25, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill [Table Text Block]

The changes in the carrying amount of goodwill by segment were as follows for the first nine months of Fiscal 2019 and 2018, of which there are no accumulated impairment losses:



(in thousands)	Towable		Corporate / All Other		Total
Balances at August 26, 2017	$	242,728	$	—	$	242,728
Grand Design purchase price adjustment⁽¹⁾	1,956		—		1,956
Balances at May 26, 2018	$	244,684	$	—	$	244,684

Balances at August 25, 2018	$	244,684	$	29,686	$	274,370
Chris-Craft purchase price adjustment⁽²⁾	—		1,287		1,287
Balances at May 25, 2019	$	244,684	$	30,973	$	275,657


(1)	Refer to Note 2, Business Combinations, of the Notes to Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended August 25, 2018 for additional information.

(2)

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]

Other intangible assets, net of accumulated amortization, consist of the following:



		May 25, 2019				August 25, 2018
(in thousands)	Weighted Average Life-Years	Cost		Accumulated Amortization		Cost		Accumulated Amortization
Trade names	Indefinite	$	177,250			$	177,250
Dealer networks	12.2	95,581		$	18,216	95,581		$	12,328
Backlog	0.5	19,527		19,527		19,527		19,135
Non-compete agreements	4.1	5,347		2,824		5,347		2,084
Leasehold interest-favorable	8.1	2,000		625		2,000		441
Other intangible assets, gross		299,705		41,192		299,705		33,988
Less accumulated amortization		41,192				33,988
Other intangible assets, net		$	258,513			$	265,717

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

Remaining estimated aggregate annual amortization expense by fiscal year is as follows:



(in thousands)	Amount
Fiscal 2019	$	2,283
Fiscal 2020	9,032
Fiscal 2021	9,032
Fiscal 2022	8,405
Fiscal 2023	8,197
Thereafter	44,314
Total amortization expense remaining	$	81,263

Warranty Warranty (Tables)

9 Months Ended

May 25, 2019

Product Warranties Disclosures [Abstract]

Schedule of Product Warranty Liability [Table Text Block]

Changes in our product warranty liability are as follows:



	Three Months Ended						Nine Months Ended
(in thousands)	May 25, 2019			May 26, 2018			May 25, 2019			May 26, 2018
Balance at beginning of period	$	40,305		$	34,988		$	40,498		$	30,805
Provision	14,139			11,645			34,090			31,881
Claims paid	(10,820		)	(9,189		)	(30,964		)	(25,242		)
Balance at end of period	$	43,624		$	37,444		$	43,624		$	37,444

Long-Term Debt Long-Term Debt (Tables)

9 Months Ended

May 25, 2019

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

The components of long-term debt are as follows:



(in thousands)	May 25, 2019			August 25, 2018
ABL	$	5,643		$	38,532
Term Loan	260,000			260,000
Long-term debt, excluding debt issuance costs	265,643			298,532
Debt issuance cost, net	(6,072		)	(7,091		)
Long-term debt	259,571			291,441
Less current maturities	6,500			—
Long-term debt, less current maturities	$	253,071		$	291,441

Schedule of Maturities of Long-term Debt

Aggregate contractual maturities of debt in future fiscal years are as follows:



(in thousands)	Amount
Fiscal 2019	$	—
Fiscal 2020	10,250
Fiscal 2021	15,000
Fiscal 2022	15,000
Fiscal 2023	219,750
Total Term Loan	$	260,000

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
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-Name Accounting Standards Codification
-Topic 835
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-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 235
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
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-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Employee and Retiree Benefits Employee and Retiree Benefits (Tables)

9 Months Ended

May 25, 2019

Retirement Benefits [Abstract]

Schedule of Amounts Recognized in Balance Sheet [Table Text Block]

Deferred compensation liabilities are as follows:



(in thousands)	May 25, 2019		August 25, 2018
Non-qualified deferred compensation	$	13,459	$	14,831
Supplemental executive retirement plan	2,056		2,309
Executive share option plan	129		935
Executive deferred compensation plan	590		421
Officer stock-based compensation	—		1,528
Deferred compensation benefits	16,234		20,024
Less current portion⁽¹⁾	3,073		4,742
Deferred compensation benefits, net of current portion	$	13,161	$	15,282

(1) Included in Accrued compensation on the Condensed Consolidated Balance Sheets.

Restructuring Restructuring (Tables)

9 Months Ended

May 25, 2019

Restructuring [Abstract]

Restructuring and Related Costs [Table Text Block]

The following table details the restructuring charges incurred:



	Motorhome
	Three Months Ended		Nine Months Ended
(in thousands)	May 25, 2019		May 25, 2019
Cost of goods sold	$	1,102	$	1,102
Selling, general, and administrative expenses	—		219
Restructuring expense	$	1,102	$	1,321

Income Per Share Income Per Share (Tables)

9 Months Ended

May 25, 2019

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

The following table reflects the calculation of basic and diluted income per share:



	Three Months Ended				Nine Months Ended
(in thousands, except per share data)	May 25, 2019		May 26, 2018		May 25, 2019		May 26, 2018
Numerator
Net income	$	36,171	$	32,521	$	79,930	$	72,567

Denominator
Weighted average common shares outstanding	31,493		31,582		31,546		31,617
Dilutive impact of stock compensation awards	151		171		176		208
Weighted average common shares outstanding, assuming dilution	31,644		31,753		31,722		31,825

Anti-dilutive securities excluded from Weighted average common shares outstanding, assuming dilution	204		90		183		59

Basic income per common share	$	1.15	$	1.03	$	2.53	$	2.30
Diluted income per common share	$	1.14	$	1.02	$	2.52	$	2.28

Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss) (Tables)

9 Months Ended

May 25, 2019

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

Changes in Accumulated Other Comprehensive Income ("AOCI") by component, net of tax, were:



	Three Months Ended
	May 25, 2019									May 26, 2018
(in thousands)	Defined Benefit Pension Items			Interest Rate Swap			Total			Defined Benefit Pension Items			Interest Rate Swap			Total
Balance at beginning of period	$	(575	)	$	827		$	252		$	(496	)	$	1,403		$	907
Other comprehensive income ("OCI") before reclassifications	—			(362		)	(362		)	—			129			129
Amounts reclassified from AOCI	8			—			8			7			—			7
Net current-period OCI	8			(362		)	(354		)	7			129			136
Balance at end of period	$	(567	)	$	465		$	(102	)	$	(489	)	$	1,532		$	1,043

	Nine Months Ended
	May 25, 2019									May 26, 2018
(in thousands)	Defined Benefit Pension Items			Interest Rate Swap			Total			Defined Benefit Pension Items			Interest Rate Swap			Total
Balance at beginning of period	$	(591	)	$	1,483		$	892		$	(509	)	$	(514	)	$	(1,023	)
OCI before reclassifications	—			(1,018		)	(1,018		)	—			2,046			2,046
Amounts reclassified from AOCI	24			—			24			20			—			20
Net current-period OCI	24			(1,018		)	(994		)	20			2,046			2,066
Balance at end of period	$	(567	)	$	465		$	(102	)	$	(489	)	$	1,532		$	1,043

Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]

Reclassifications out of AOCI in net periodic benefit costs, net of tax, were:



		Three Months Ended				Nine Months Ended
(in thousands)	Location on Consolidated Statements of Income and Comprehensive Income	May 25, 2019		May 26, 2018		May 25, 2019		May 26, 2018
Amortization of net actuarial loss	SG&A	$	8	$	7	$	24	$	20

Business Segments Business Segments (Details) $ in Thousands	3 Months Ended		9 Months Ended
	May 25, 2019 USD ($)	May 26, 2018 USD ($)	May 25, 2019 USD ($) reportable_segments	May 26, 2018 USD ($)	Aug. 25, 2018 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| reportable_segments			2
Net revenues	$ 528,940	$ 562,261	$ 1,455,278	$ 1,480,641
Purchases of property and equipment	8,315	6,448	31,681	18,123
Assets	1,083,203		1,083,203		$ 1,051,805
Net income	36,171	32,521	79,930	72,567
Interest expense	4,446	4,172	13,293	13,871
Provision for income taxes	8,717	11,684	18,609	28,478
Depreciation	3,520	2,351	9,788	6,679
Amortization of intangible assets	2,278	1,933	7,204	5,921
EBITDA	55,132	52,661	128,824	127,516
Acquisition-related costs	0	800	0	850
Restructuring expenses	1,102	0	1,321	0
Non-operating income	(360)	(100)	(1,330)	(212)
Adjusted EBITDA	55,874	53,361	128,815	128,154
Motorhome [Member]
Segment Reporting Information [Line Items]
Net revenues	160,239	244,870	506,229	632,148
Purchases of property and equipment	2,543	2,643	7,933	7,383
Assets	336,334		336,334		322,048
Adjusted EBITDA	381	11,677	16,716	22,264
Towable [Member]
Segment Reporting Information [Line Items]
Net revenues	346,811	313,016	890,335	839,039
Purchases of property and equipment	4,810	3,805	21,335	10,740
Assets	637,371		637,371		626,588
Adjusted EBITDA	57,172	45,378	121,638	115,066
Corporate All Other [Member]
Segment Reporting Information [Line Items]
Net revenues	21,890	4,375	58,714	9,454
Purchases of property and equipment	962	0	2,413	0
Assets	109,498		109,498		$ 103,169
Adjusted EBITDA	$ (1,679)	$ (3,694)	$ (9,539)	$ (9,176)

Revenue Revenue Disaggregation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 25, 2019	May 26, 2018	May 25, 2019	May 26, 2018
Disaggregation of Revenue [Line Items]
Net revenues	$ 528,940	$ 562,261	$ 1,455,278	$ 1,480,641
Motorhome [Member]
Disaggregation of Revenue [Line Items]
Net revenues	160,239	244,870	506,229	632,148
Motorhome [Member] \| Class A [Domain]
Disaggregation of Revenue [Line Items]
Net revenues	45,138	80,093	148,816	241,680
Motorhome [Member] \| Class B [Domain]
Disaggregation of Revenue [Line Items]
Net revenues	41,363	49,715	162,343	112,292
Motorhome [Member] \| Class C [Domain]
Disaggregation of Revenue [Line Items]
Net revenues	67,674	109,092	176,059	258,552
Motorhome [Member] \| Other [Domain]
Disaggregation of Revenue [Line Items]
Net revenues	6,064	5,970	19,011	19,624
Towable [Member]
Disaggregation of Revenue [Line Items]
Net revenues	346,811	313,016	890,335	839,039
Towable [Member] \| Fifth Wheel [Domain]
Disaggregation of Revenue [Line Items]
Net revenues	201,561	179,046	519,093	474,075
Towable [Member] \| Travel Trailer [Domain]
Disaggregation of Revenue [Line Items]
Net revenues	140,709	130,286	358,497	355,681
Towable [Member] \| Other [Domain]
Disaggregation of Revenue [Line Items]
Net revenues	4,541	3,684	12,745	9,283
Corporate All Other [Member]
Disaggregation of Revenue [Line Items]
Net revenues	21,890	4,375	58,714	9,454
Corporate All Other [Member] \| Other [Domain]
Disaggregation of Revenue [Line Items]
Net revenues	$ 21,890	$ 4,375	$ 58,714	$ 9,454

Derivatives, Investments and Fair Value Measurements Fair Value Measurements (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	May 25, 2019	Aug. 25, 2018
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Domestic equity funds	$ 439	$ 1,143
International equity funds	108	139
Fixed income funds	155	223
Interest rate swap contract, assets	614	1,959
Total assets at fair value	1,316	3,464
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Domestic equity funds	357	1,114
International equity funds	52	120
Fixed income funds	22	132
Interest rate swap contract, assets	0	0
Total assets at fair value	431	1,366
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Domestic equity funds	82	29
International equity funds	56	19
Fixed income funds	133	91
Interest rate swap contract, assets	614	1,959
Total assets at fair value	885	2,098
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Domestic equity funds	0	0
International equity funds	0	0
Fixed income funds	0	0
Interest rate swap contract, assets	0	0
Total assets at fair value	$ 0	$ 0

Derivatives, Investments and Fair Value Measurements Derivatives, Investments and Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands	9 Months Ended
	May 25, 2019	Aug. 25, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, gross	$ 265,643	$ 298,532
Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset impairment charges	0
Term Loan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, gross	$ 260,000	$ 260,000
Interest rate, stated percentage	5.32%	5.32%
Term Loan \| Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional amount	$ 120,000	$ 170,000

Inventories Inventories-Balance (Details) - USD ($) $ in Thousands	May 25, 2019	Aug. 25, 2018
Inventory Disclosure [Abstract]
Finished goods	$ 42,876	$ 26,513
Work-in-process	93,949	68,339
Raw materials	94,365	139,039
Total	231,190	233,891
Less last-in, first-out (LIFO) reserve	40,307	38,763
Inventories, net	$ 190,883	$ 195,128

Inventories Inventories-Basis (Details) - USD ($) $ in Thousands	May 25, 2019	Aug. 25, 2018
Inventory Disclosure [Abstract]
LIFO basis	$ 184,516	$ 176,215
First-in, first-out basis	46,674	57,676
Total	$ 231,190	$ 233,891

Property, Plant, and Equipment Property, Plant, and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 25, 2019	May 26, 2018	May 25, 2019	May 26, 2018	Aug. 25, 2018
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	$ 262,158		$ 262,158		$ 239,257
Less accumulated depreciation	140,181		140,181		138,064
Property, plant, and equipment, net	121,977		121,977		101,193
Depreciation	3,520	$ 2,351	9,788	$ 6,679
Land [Member]
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	8,686		8,686		6,747
Buildings and building improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	112,898		112,898		94,622
Machinery and equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	108,585		108,585		105,663
Software [Member]
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	28,152		28,152		23,388
Transportation [Member]
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	$ 3,837		$ 3,837		$ 8,837

Goodwill and Intangible Assets Schedule of Goodwill (Details) - USD ($) $ in Thousands	9 Months Ended
	May 25, 2019	May 26, 2018
Goodwill [Line Items]
Beginning balance	$ 274,370	$ 242,728
Goodwill, Purchase Accounting Adjustments	1,287	1,956
Ending balance	275,657	244,684
Towable [Member]
Goodwill [Line Items]
Beginning balance	244,684	242,728
Goodwill, Purchase Accounting Adjustments	0	1,956
Ending balance	244,684	244,684
Corporate All Other [Member]
Goodwill [Line Items]
Beginning balance	29,686	0
Goodwill, Purchase Accounting Adjustments	1,287	0
Ending balance	$ 30,973	$ 0

Goodwill and Intangible Assets Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	May 25, 2019	Aug. 25, 2018
Schedule of Intangible Assets [Line Items]
Other intangible assets, gross	$ 299,705	$ 299,705
Accumulated amortization	41,192	33,988
Other intangible assets, net	$ 258,513	265,717
Finite-Lived Intangible Assets, Remaining Amortization Period	11 years
Trade names
Schedule of Intangible Assets [Line Items]
Other intangible assets, gross	$ 177,250	177,250
Dealer networks
Schedule of Intangible Assets [Line Items]
Other intangible assets, gross	95,581	95,581
Accumulated amortization	$ 18,216	12,328
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	12 years 2 months
Backlog
Schedule of Intangible Assets [Line Items]
Other intangible assets, gross	$ 19,527	19,527
Accumulated amortization	$ 19,527	19,135
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	6 months
Non-compete agreements
Schedule of Intangible Assets [Line Items]
Other intangible assets, gross	$ 5,347	5,347
Accumulated amortization	$ 2,824	2,084
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	4 years 1 month
Leasehold interest-favorable
Schedule of Intangible Assets [Line Items]
Other intangible assets, gross	$ 2,000	2,000
Accumulated amortization	$ 625	$ 441
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	8 years 1 month

Goodwill and Intangible Assets Future Amortization of Intangible Assets (Details) $ in Thousands	May 25, 2019 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Fiscal 2019	$ 2,283
Fiscal 2020	9,032
Fiscal 2021	9,032
Fiscal 2022	8,405
Fiscal 2023	8,197
Thereafter	44,314
Total amortization expense remaining	$ 81,263

Warranty Schedule of Product Warranty Liability (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 25, 2019	May 26, 2018	May 25, 2019	May 26, 2018
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Balance at beginning of period	$ 40,305	$ 34,988	$ 40,498	$ 30,805
Provision	14,139	11,645	34,090	31,881
Claims paid	(10,820)	(9,189)	(30,964)	(25,242)
Balance at end of period	$ 43,624	$ 37,444	$ 43,624	$ 37,444

Long-Term Debt Components of Long-Term Debt (Details) - USD ($) $ in Thousands	May 25, 2019	Sep. 21, 2018	Aug. 25, 2018	Nov. 08, 2016
Debt Instrument [Line Items]
Long-term debt, gross	$ 265,643		$ 298,532
Debt issuance cost, net	(6,072)		(7,091)
Long-term debt	259,571		291,441
Current maturities of long-term debt	6,500		0
Long-term debt, less current maturities	253,071		291,441
Long-term Debt, Fair Value	264,300
ABL
Debt Instrument [Line Items]
Line of Credit Facility, Current Borrowing Capacity		$ 165,000		$ 125,000
Long-term debt, gross	5,643		38,532
Term Loan
Debt Instrument [Line Items]
Debt Instrument, Face Amount				$ 300,000
Long-term debt, gross	$ 260,000		$ 260,000

Long-Term Debt Long-Term Debt Contractual Maturities (Details) - USD ($) $ in Thousands	May 25, 2019	Aug. 25, 2018
Debt Instrument [Line Items]
Long-term debt, gross	$ 265,643	$ 298,532
Term Loan
Debt Instrument [Line Items]
Fiscal 2019	0
Fiscal 2020	10,250
Fiscal 2021	15,000
Fiscal 2022	15,000
Fiscal 2023	219,750
Long-term debt, gross	$ 260,000	$ 260,000

Employee and Retiree Benefits Schedule of Deferred Compensation Benefits (Details) - USD ($) $ in Thousands	May 25, 2019	Aug. 25, 2018
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Non-qualified deferred compensation	$ 13,459	$ 14,831
Supplemental executive retirement plan	2,056	2,309
Executive share option plan	129	935
Executive deferred compensation plan	590	421
Officer stock-based compensation	0	1,528
Deferred compensation benefits	16,234	20,024
Less current portion	3,073	4,742
Deferred compensation benefits, net of current portion	$ 13,161	$ 15,282

Contingent Liabilites and Commitments Repurchase Commitments Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	May 25, 2019	Aug. 25, 2018
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Repurchase agreement term	24 months
Accrued loss on repurchases	$ 0.9	$ 0.9
Obligation to Repurchase from Dealers [Member]
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Contingent liability on repurchase agreements	$ 1,000.0	$ 879.0

Stock-Based Compensation Stock-Based Compensation Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 25, 2019	May 26, 2018	May 25, 2019	May 26, 2018
Stockholders' Equity Note [Abstract]
Stock-based compensation	$ 1,100	$ 1,400	$ 5,735	$ 4,983

Restructuring Restructuring (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	May 25, 2019	May 26, 2018	May 25, 2019	May 26, 2018	Aug. 29, 2020	Aug. 31, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	$ 1,102	$ 0	$ 1,321	$ 0
Motorhome [Member] \| Junction City, OR Production Site [Domain] \| Cost of goods sold
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	1,102		1,102
Motorhome [Member] \| Junction City, OR Production Site [Domain] \| Selling, general, and administrative expenses
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	$ 0		$ 219
Motorhome [Member] \| Junction City, OR Production Site [Domain] \| Scenario, Forecast [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring expenses					$ 1,000	$ 1,000

Income Taxes Income Taxes Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	May 25, 2019	May 26, 2018
Income Tax Disclosure [Abstract]
Effective income tax rate	18.90%	28.20%
Income Tax Credits and Adjustments	$ 3.6
Effective Income Tax Rate Reconciliation, Tax Credit, Percent	3.70%

Income Per Share Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	May 25, 2019	May 26, 2018	May 25, 2019	May 26, 2018
Income Per Share
Net income	$ 36,171	$ 32,521	$ 79,930	$ 72,567
Weighted average shares outstanding	31,493	31,582	31,546	31,617
Dilutive impact of awards and options outstanding	151	171	176	208
Weighted average shares and potential dilutive shares outstanding	31,644	31,753	31,722	31,825
Net income per share - basic (in dollars per share)	$ 1.15	$ 1.03	$ 2.53	$ 2.30
Net income per share - assuming dilution (in dollars per share)	$ 1.14	$ 1.02	$ 2.52	$ 2.28
Employee Stock Option [Member]
Income Per Share
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	204	90	183	59

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Accumulated Other Comprehensive Income (Loss) Changes in AOCI by component (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 25, 2019	May 26, 2018	May 25, 2019	May 26, 2018
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	$ 252	$ 907	$ 892	$ (1,023)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Other comprehensive income before reclassifications	(362)	129	(1,018)	2,046
Amounts reclassified from AOCI	8	7	24	20
Net current-period OCI	(354)	136	(994)	2,066
Balance at end of period	(102)	1,043	(102)	1,043
Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	(575)	(496)	(591)	(509)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Amounts reclassified from AOCI	8	7	24	20
Net current-period OCI	8	7	24	20
Balance at end of period	(567)	(489)	(567)	(489)
Accumulated Net Gain (Loss) from Interest Rate Swap [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	827	1,403	1,483	(514)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Other comprehensive income before reclassifications	(362)	129	(1,018)	2,046
Net current-period OCI	(362)	129	(1,018)	2,046
Balance at end of period	$ 465	$ 1,532	$ 465	$ 1,532

Accumulated Other Comprehensive Income (Loss) Reclassification from AOCI (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 25, 2019	May 26, 2018	May 25, 2019	May 26, 2018
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of net actuarial loss (net of tax of $3, $3, $8, and $9)	$ 8	$ 7	$ 24	$ 20
Selling, general, and administrative expenses \| Amortization of net actuarial loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of net actuarial loss (net of tax of $3, $3, $8, and $9)	$ 8	$ 7	$ 24	$ 20