Note 8 - Goodwill and Other Intangible Assets

12 Months Ended

Aug. 29, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

8. 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 29, 2015 and August 30, 2014 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 29, 2015		Weighted Average Life in Years		August 30, 2014		Weighted Average Life in Years
Goodwill	$	10,272	N/A		$	1,404	N/A
Customer contracts		6,199		14.9		1,141		12.9
Other intangible assets		1,603		5.3		179		6.7
Total intangible assets and goodwill acquired	$	18,074			$	2,724

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 29, 2015, August 30, 2014 or August 31, 2013.

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

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
Goodwill recorded during the period		10,272
Other		(787	)
Balance as of August 29, 2015	$	313,133

As of August 29, 2015, the Company has allocated $308.4 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 29, 2015
Customer contracts	$	159,451	$	121,427	$	38,024
Other intangible assets		29,927		27,902		2,025
	$	189,378	$	149,329	$	40,049
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

Estimated amortization expense for the five fiscal years subsequent to August 29, 2015 and thereafter, based on intangible assets, net as of August 29, 2015 is as follows (in thousands):

2016	$	8,604
2017		7,872
2018		7,291
2019		4,521
2020		3,914
Thereafter		7,847
	$	40,049