Goodwill and Other Intangible Assets

6 Months Ended

Feb. 27, 2021

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 29, 2020	$	424,844
Goodwill recorded during the period		4,533
Other		134
Balance as of February 27, 2021	$	429,511

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 27, 2021
Customer contracts	$	236,236	$	182,798	$	53,438
Software		71,061		40,712		30,349
Other intangible assets		36,000		34,645		1,355
	$	343,297	$	258,155	$	85,142
August 29, 2020
Customer contracts	$	234,065	$	177,119	$	56,946
Software		66,014		39,020		26,994
Other intangible assets		35,741		34,145		1,596
	$	335,820	$	250,284	$	85,536