Goodwill and Other Intangible Assets

9 Months Ended

May 27, 2023

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 27, 2022	$	457,259
Goodwill recorded during the period		191,289
Other		(144	)
Balance as of May 27, 2023	$	648,404

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


	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
May 27, 2023
Customer contracts	$	315,746	$	207,615	$	108,131
Software		79,342		43,515		35,827
Other intangible assets		43,588		36,217		7,371
	$	438,676	$	287,347	$	151,329
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