Goodwill and Other Intangible Assets

9 Months Ended

May 28, 2022

Goodwill And Intangible Assets Disclosure [Abstract]

10. Goodwill and Other Intangible Assets

When the Company acquires a business, the amount assigned to the tangible assets and liabilities and intangible assets acquired is based on their respective fair values determined as of the acquisition date. The excess of the purchase price over the tangible assets and liabilities and intangible assets is recorded as goodwill.

The changes in the carrying amount of goodwill are as follows (in thousands):


Balance as of August 28, 2021	$	429,538
Goodwill recorded during the period		27,365
Other		(93	)
Balance as of May 28, 2022	$	456,810

Intangible assets, net in the Company’s consolidated balance sheets are as follows (in thousands):


	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
May 28, 2022
Customer contracts	$	246,934	$	196,015	$	50,919
Software		78,502		43,911		34,591
Other intangible assets		37,564		35,445		2,119
	$	363,000	$	275,371	$	87,629
August 28, 2021
Customer contracts	$	237,384	$	188,255	$	49,129
Software		74,475		40,763		33,712
Other intangible assets		36,866		35,069		1,797
	$	348,725	$	264,087	$	84,638