Goodwill and Intangibles (Tables)

6 Months Ended

Feb. 29, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill [Table Text Block]

Changes to goodwill during the twenty-six weeks ended February 29, 2020 were as follows:

	Total
Balance as of August 31, 2019	$	471,427
Acquisition of business	99,289
Balance as of February 29, 2020	$	570,716

Schedule of Finite-Lived Intangible Assets

Intangible assets, net in our Condensed Consolidated Balance Sheets consist of the following:

				February 29, 2020
(In thousands)	Useful life			Gross carrying amount		Accumulated amortization		Net carrying amount
Intangible assets with indefinite life:
Brands and trademarks	Indefinite life			$	962,000	$	—	$	962,000
Intangible assets with finite lives:
Customer relationships	15 years			174,000		12,703		161,297
Proprietary recipes and formulas	7 years			7,000		2,631		4,369
Licensing agreements	14 years			22,000		4,134		17,866
Software and website development costs	3	-	5 years	5,612		1,940		3,672
Intangible assets in progress	3	-	5 years	206		—		206
				$	1,170,818	$	21,408	$	1,149,410

		August 31, 2019
(In thousands)	Useful life	Gross carrying amount		Accumulated amortization		Net carrying amount
Intangible assets with indefinite life:
Brands and trademarks	Indefinite life	$	232,000	$	—	$	232,000
Intangible assets with finite lives:
Customer relationships	15 years	59,000		8,382		50,618
Proprietary recipes and formulas	7 years	7,000		2,131		4,869
Licensing agreements	14 years	22,000		3,348		18,652
		$	320,000	$	13,861	$	306,139

Schedule of Indefinite-Lived Intangible Assets

Intangible assets, net in our Condensed Consolidated Balance Sheets consist of the following:

				February 29, 2020
(In thousands)	Useful life			Gross carrying amount		Accumulated amortization		Net carrying amount
Intangible assets with indefinite life:
Brands and trademarks	Indefinite life			$	962,000	$	—	$	962,000
Intangible assets with finite lives:
Customer relationships	15 years			174,000		12,703		161,297
Proprietary recipes and formulas	7 years			7,000		2,631		4,369
Licensing agreements	14 years			22,000		4,134		17,866
Software and website development costs	3	-	5 years	5,612		1,940		3,672
Intangible assets in progress	3	-	5 years	206		—		206
				$	1,170,818	$	21,408	$	1,149,410

		August 31, 2019
(In thousands)	Useful life	Gross carrying amount		Accumulated amortization		Net carrying amount
Intangible assets with indefinite life:
Brands and trademarks	Indefinite life	$	232,000	$	—	$	232,000
Intangible assets with finite lives:
Customer relationships	15 years	59,000		8,382		50,618
Proprietary recipes and formulas	7 years	7,000		2,131		4,869
Licensing agreements	14 years	22,000		3,348		18,652
		$	320,000	$	13,861	$	306,139

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Estimated future amortization for each of the next five fiscal years and thereafter is as follows:

(In thousands by fiscal year)
Remainder of 2020	$	7,782
2021	15,327
2022	15,094
2023	14,829
2024	14,281
2025 and thereafter	119,891
Total	$	187,204