Goodwill and Other Intangible Assets

9 Months Ended

May 25, 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
Goodwill recorded during the period	$	1,879
Other		(155	)
Balance as of May 25, 2019	$	399,146

During fiscal 2019, the Company reclassified $11.6 million of software from property, plant and equipment, net to other 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
May 25, 2019
Customer contracts	$	220,985	$	161,736	$	59,249
Software		47,302		33,813		13,489
Other intangible assets		35,000		32,551		2,449
	$	303,287	$	228,100	$	75,187
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