Note 7 - Goodwill and Other Intangible Assets

12 Months Ended

Aug. 30, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

7. Goodwill and Other Intangible Assets

As discussed in Note 2, 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 following details the changes in the Company’s intangible assets and goodwill related to the Company’s acquisitions as well as its asset purchases for the years ended August 30, 2014 and August 31, 2013 as well as the respective periods over which the assets will be amortized (in thousands, except weighted average life in years). These amounts include additional payments associated with prior year acquisitions as well as changes to acquisition purchase allocations that had not been finalized as of the end of the prior fiscal year:

Year ended	August 30, 2014		Weighted Average Life in Years		August 31, 2013		Weighted Average Life in Years
Goodwill	$	1,404	N/A		$	14,448	N/A
Customer contracts		1,141		12.9		8,146		15.0
Other intangible assets		179		6.7		732		5.0
Total intangible assets and goodwill acquired	$	2,724			$	23,326

The Company does not amortize goodwill, but it is reviewed annually or more frequently if certain indicators arise, for impairment. There were no impairment losses related to goodwill or intangible assets during the years ended August 30, 2014, August 31, 2013 or August 25, 2012.

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

Balance as of August 25, 2012	$	288,137
Goodwill recorded during the period		14,448
Other		(222	)
Balance as of August 31, 2013	$	302,363
Goodwill recorded during the period		1,404
Other		(119	)
Balance as of August 30, 2014	$	303,648

As of August 30, 2014, the Company has allocated $298.9 million, $4.1 million and $0.6 million of goodwill to its US and Canadian Rental and Cleaning, Specialty Garments and First Aid segments, respectively.

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 30, 2014
Customer contracts	$	153,730	$	113,520	$	40,210
Other intangible assets		28,670		27,403		1,267
	$	182,400	$	140,923	$	41,477
August 31, 2013
Customer contracts	$	152,672	$	105,275	$	47,397
Other intangible assets		28,517		26,570		1,947
	$	181,189	$	131,845	$	49,344

Estimated amortization expense for the five fiscal years subsequent to August 30, 2014 and thereafter, based on intangible assets, net as of August 30, 2014 is as follows (in thousands):

2015	$	8,390
2016		7,469
2017		6,793
2018		6,272
2019		3,559
Thereafter		8,994
	$	41,477