Goodwill and Other Intangible Assets

6 Months Ended

Feb. 23, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

10. Goodwill and Other Intangible Assets

As discussed in Note 4, “Business Acquisitions”, 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 25, 2018	$	397,422
Other		(86	)
Balance as of February 23, 2019	$	397,336

During fiscal 2019, the Company reclassified $11.6 million of software from property, plant and equipment, net to intangible assets. Intangible assets information as of August 25, 2018 has been recast in the table that follows, to reflect this change.

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

	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
February 23, 2019
Customer contracts	$	220,351	$	158,841	$	61,510
Software		45,921		32,628		13,293
Other intangible assets		35,027		32,223		2,804
	$	301,299	$	223,692	$	77,607
August 25, 2018
Customer contracts	$	220,303	$	152,985	$	67,318
Software	$	41,885	$	30,305	$	11,580
Other intangible assets		35,030		31,444		3,586
	$	297,218	$	214,734	$	82,484