Goodwill and Other Intangible Assets

3 Months Ended

Nov. 26, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

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 27, 2022	$	457,259
Goodwill recorded during the period		3,890
Other		(88	)
Balance as of November 26, 2022	$	461,061

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

	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
November 26, 2022
Customer contracts	$	249,448	$	201,080	$	48,368
Software		77,230		42,658		34,572
Other intangible assets		37,480		35,570		1,910
	$	364,158	$	279,308	$	84,850
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