XML 33 R22.htm IDEA: XBRL DOCUMENT v3.19.1
Goodwill and Intangibles (Tables)
6 Months Ended
Feb. 23, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Finite-Lived Intangible Assets
Intangible assets, net in our Condensed Consolidated Balance Sheets consist of the following:
 
 
 
 
February 23, 2019
(In thousands)
 
Useful life
 
Gross carrying amount
 
Accumulated amortization
 
Net carrying amount
Intangible assets with indefinite life:
 
 
 
 
 
 
 
 
Brands and trademarks
 
Indefinite life
 
$
232,000

 
$

 
$
232,000

Intangible assets with finite lives:
 
 
 


 


 


Customer relationships
 
15 years
 
59,000

 
6,415

 
52,585

Proprietary recipes and formulas
 
7 years
 
7,000

 
1,631

 
5,369

Licensing agreements
 
14 years
 
22,000

 
2,563

 
19,437

 
 
 
 
$
320,000

 
$
10,609

 
$
309,391

 
 
 
 
August 25, 2018
(In thousands)
 
Useful life
 
Gross carrying amount
 
Accumulated amortization
 
Net carrying amount
Intangible assets with indefinite life:
 
 
 
 
 
 
 
 
Brands and trademarks
 
Indefinite life
 
$
232,000

 
$

 
$
232,000

Intangible assets with finite lives:
 
 
 
 
 
 
 
 
Customer relationships
 
15 years
 
59,000

 
4,448

 
54,552

Proprietary recipes and formulas
 
7 years
 
7,000

 
1,131

 
5,869

Licensing agreements
 
14 years
 
22,000

 
1,778

 
20,222

 
 
 
 
$
320,000

 
$
7,357

 
$
312,643


Schedule of Indefinite-Lived Intangible Assets
Intangible assets, net in our Condensed Consolidated Balance Sheets consist of the following:
 
 
 
 
February 23, 2019
(In thousands)
 
Useful life
 
Gross carrying amount
 
Accumulated amortization
 
Net carrying amount
Intangible assets with indefinite life:
 
 
 
 
 
 
 
 
Brands and trademarks
 
Indefinite life
 
$
232,000

 
$

 
$
232,000

Intangible assets with finite lives:
 
 
 


 


 


Customer relationships
 
15 years
 
59,000

 
6,415

 
52,585

Proprietary recipes and formulas
 
7 years
 
7,000

 
1,631

 
5,369

Licensing agreements
 
14 years
 
22,000

 
2,563

 
19,437

 
 
 
 
$
320,000

 
$
10,609

 
$
309,391

 
 
 
 
August 25, 2018
(In thousands)
 
Useful life
 
Gross carrying amount
 
Accumulated amortization
 
Net carrying amount
Intangible assets with indefinite life:
 
 
 
 
 
 
 
 
Brands and trademarks
 
Indefinite life
 
$
232,000

 
$

 
$
232,000

Intangible assets with finite lives:
 
 
 
 
 
 
 
 
Customer relationships
 
15 years
 
59,000

 
4,448

 
54,552

Proprietary recipes and formulas
 
7 years
 
7,000

 
1,131

 
5,869

Licensing agreements
 
14 years
 
22,000

 
1,778

 
20,222

 
 
 
 
$
320,000

 
$
7,357

 
$
312,643


Schedule of Finite-Lived Intangible Assets, Future Amortization Expense
Estimated future amortization for each of the next five fiscal years and thereafter is as follows:
(In thousands by fiscal year)
 
 
Remainder of 2019
 
$
3,253

2020
 
6,505

2021
 
6,505

2022
 
6,505

2023
 
6,505

2024 and thereafter
 
48,118

Total
 
$
77,391