Goodwill and Other Intangible Assets

9 Months Ended

May 25, 2024

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 26, 2023	$	647,900
Purchase price adjustments recorded during the period		900
Other		(5	)
Balance as of May 25, 2024	$	648,795

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

	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
May 25, 2024
Customer contracts	$	314,705	$	224,319	$	90,386
Software		80,945		49,546		31,399
Other intangible assets		39,820		35,728		4,092
	$	435,470	$	309,593	$	125,877
August 26, 2023
Customer contracts	$	315,448	$	211,996	$	103,452
Software		80,538		45,117		35,421
Other intangible assets		43,598		36,853		6,745
	$	439,584	$	293,966	$	145,618