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Goodwill and Other Intangible Assets (Tables)
12 Months Ended
Aug. 27, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes in Intangible Assets and Goodwill These amounts include additional payments associated with prior year acquisitions:

Year ended

 

August 27,
2022

 

 

Weighted
Average Life
in Years

 

 

August 28,
2021

 

 

Weighted
Average Life
in Years

 

Goodwill

 

$

27,964

 

 

N/A

 

 

$

4,533

 

 

N/A

 

Customer contracts

 

 

10,450

 

 

 

13.8

 

 

 

3,219

 

 

 

10.0

 

Other intangible assets

 

 

807

 

 

 

6.1

 

 

 

179

 

 

 

5.0

 

Total intangible assets and goodwill acquired

 

$

39,221

 

 

 

 

 

$

7,931

 

 

 

 

Schedule of Changes in Carrying Amount of Goodwill

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

 

Balance as of August 29, 2020

 

$

424,844

 

Goodwill recorded during the period

 

 

4,533

 

Other

 

 

161

 

Balance as of August 28, 2021

 

$

429,538

 

Goodwill recorded during the period

 

 

27,964

 

Other

 

 

(243

)

Balance as of August 27, 2022

 

$

457,259

 

Schedule of Intangible Assets, Net

Intangible assets, net in the Company’s accompanying Consolidated Balance Sheets are as follows (in thousands):

 

 

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net
Carrying
Amount

 

August 27, 2022

 

 

 

 

 

 

 

 

 

Customer contracts

 

$

247,721

 

 

$

198,668

 

 

$

49,053

 

Software

 

 

75,528

 

 

 

41,637

 

 

 

33,891

 

Other intangible assets

 

 

37,520

 

 

 

35,491

 

 

 

2,029

 

 

 

$

360,769

 

 

$

275,796

 

 

$

84,973

 

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

 

Schedule of Estimated Future Amortization Expense

Estimated amortization expense for the five fiscal years subsequent to August 27, 2022 and thereafter, based on intangible assets, net as of August 27, 2022 is as follows (in thousands):

 

2022

 

$

13,404

 

2023

 

 

11,840

 

2024

 

 

9,400

 

2025

 

 

9,385

 

2026

 

 

8,133

 

Thereafter

 

 

32,811

 

Total estimated amortization expense

 

$

84,973