Goodwill and Intangible Assets

12 Months Ended

Aug. 28, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

The changes in carrying value of goodwill by reportable segment, with no accumulated impairment losses, for Fiscal 2021, 2020, and 2019 are as follows:

	Towable		Motorhome		Corporate / All Other		Total
Balance, August 25, 2018	$	244,684	$	—	$	29,686	$	274,370
Chris-Craft purchase price adjustment	—		—		561		561
Balance, August 31, 2019	$	244,684	$	—	$	30,247	$	274,931
Acquisition of Newmar(1)	—		73,127		—		73,127
Balance, August 29, 2020 and August 28, 2021	$	244,684	$	73,127	$	30,247	$	348,058

(1)    Refer to Note 2 for additional information on the acquisition of Newmar.

The valuation used to test goodwill for impairment is dependent upon a number of significant estimates and assumptions, including macroeconomic conditions, growth rates, competitive activities, cost containment, margin expansion and our business plans. We believe these estimates and assumptions are reasonable. However, future changes in the judgments, assumptions and estimates that are used in our goodwill impairment analysis, including discount and tax rates or future cash flow projections, could result in significantly different estimates of the fair values.

We have no accumulated impairment losses as of August 28, 2021. While the Chris-Craft reporting unit's fair value exceeded its respective carrying value, the fair value cushion was not substantial and could be impacted if projected operating results are not met or other significant assumptions referenced above change.

Other intangible assets, net of accumulated amortization, consist of the following

	August 28, 2021
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value
Trade names	$	275,250			275,250
Dealer networks	159,581		$	45,652	$	113,929
Backlog	28,327		28,327		—
Non-compete agreements	6,647		5,419		1,228
Other intangible assets	469,805		79,398		390,407
	August 29, 2020
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value
Trade names	$	275,250			$	275,250
Dealer networks	159,581		$	32,487	127,094
Backlog	28,327		28,327		—
Non-compete agreements	6,647		4,223		2,424
Other intangible assets	469,805		65,037		404,768

The weighted average remaining amortization period for finite-lived intangible assets as of August 28, 2021 was approximately nine years.

Estimated future amortization expense related to finite-lived intangible assets is as follows:

	Amortization
Fiscal 2022	$	13,719
Fiscal 2023	13,526
Fiscal 2024	13,424
Fiscal 2025	13,219
Fiscal 2026	13,165
Thereafter	48,104
Total amortization expense remaining	$	115,157