WINNEBAGO INDUSTRIES INC
For the period ended May 25, 2024. Filed Jun 20, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
May 25, 2024 · Filed Jun 20, 2024
WGO$31.19-1.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
| Nine Months Ended | ||
|---|---|---|
| (in millions) | May 25,2024 | May 27,2023 |
| Operating activities | ||
| Net income | $42.1 | $172.1 |
| Adjustments to reconcile net income to net cash provided by operating activities | ||
| Depreciation | 25.5 | 20.9 |
| Amortization | 16.9 | 12.0 |
| Amortization of debt issuance costs | 2.4 | 2.3 |
| Last in, first-out ("LIFO") expense | (0.1) | 2.0 |
| Stock-based compensation | 11.5 | 8.2 |
| Deferred income taxes | (3.8) | (3.6) |
| Loss on note repurchase | 32.7 | — |
| Contingent consideration fair value adjustment | 1.1 | 2.0 |
| Payments of earnout liability above acquisition-date fair value | (14.7) | (13.3) |
| Other, net | 3.1 | 0.3 |
| Change in operating assets and liabilities, net of assets and liabilities acquired | ||
| Receivables, net | (20.8) | 49.8 |
| Inventories, net | 28.7 | 15.8 |
| Prepaid expenses and other assets | 6.8 | 12.6 |
| Accounts payable | (12.1) | (81.3) |
| Income taxes and unrecognized tax benefits | 14.3 | 3.2 |
| Accrued expenses and other liabilities | (30.4) | (46.6) |
| Net cash provided by operating activities | 103.2 | 156.4 |
| Investing activities | ||
| Purchases of property, plant, and equipment | (33.8) | (68.0) |
| Acquisition of business, net of cash acquired | — | (87.5) |
| Proceeds from the sale of property, plant, and equipment | 0.3 | 0.3 |
| Other, net | (2.9) | 0.8 |
| Net cash used in investing activities | (36.4) | (154.4) |
| Financing activities | ||
| Borrowings on long-term debt | 2,652.2 | 2,840.2 |
| Repayments on long-term debt | (2,596.0) | (2,840.2) |
| Payments for convertible note bond hedge | (68.7) | — |
| Proceeds from issuance of convertible note warrant | 31.3 | — |
| Proceeds from partial unwind of convertible note bond hedge | 55.8 | — |
| Payments for partial unwind of convertible note warrant | (25.3) | — |
| Payments of cash dividends | (27.8) | (25.1) |
| Payments for repurchases of common stock | (64.3) | (24.9) |
| Payments of debt issuance costs | (10.4) | — |
| Payments of earnout liability up to acquisition-date fair value | (5.8) | (8.7) |
| Other, net | 0.4 | 0.4 |
| Net cash used in financing activities | (58.6) | (58.3) |
| Net increase (decrease) in cash and cash equivalents | 8.2 | (56.3) |
| Cash and cash equivalents at beginning of period | 309.9 | 282.2 |
| Cash and cash equivalents at end of period | $318.1 | $225.9 |
| Supplemental Disclosures | ||
|---|---|---|
| Income taxes paid, net | $12.6 | $54.9 |
| Interest paid | 13.9 | 14.6 |
| Non-cash investing and financing activities | ||
| Capital expenditures in accounts payable | $2.2 | $2.8 |
| Dividends declared not yet paid | 10.0 | 8.9 |
| Increase in lease assets in exchange for lease liabilities: | ||
| Operating leases | 9.8 | 3.9 |
| Finance leases | 1.2 | 0.9 |
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