Goodwill and Intangibles (Tables)
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6 Months Ended |
Feb. 26, 2022 |
Goodwill and Intangible Assets Disclosure [Abstract] |
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Schedule of Finite-Lived Intangible Assets |
Intangible assets, net in the Condensed Consolidated Balance Sheets consists of the following: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | February 26, 2022 | (In thousands) | | Useful life | | Gross carrying amount | | Accumulated amortization | | Net carrying amount | Intangible assets with indefinite life: | | | | | | | | | | | Brands and trademarks | | Indefinite life | | $ | 974,000 | | | $ | — | | | $ | 974,000 | | Intangible assets with finite lives: | | | | | | | | | | | Customer relationships | | 15 years | | 174,000 | | | 35,903 | | | 138,097 | | Licensing agreements | | 13 years | | 22,000 | | | 7,623 | | | 14,377 | | Proprietary recipes and formulas | | 7 years | | 7,000 | | | 4,631 | | | 2,369 | | Software and website development costs | | 3 | - | 5 years | | 5,863 | | | 3,609 | | | 2,254 | | | | | | | | | | | | | | | | | | | $ | 1,182,863 | | | $ | 51,766 | | | $ | 1,131,097 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | August 28, 2021 | (In thousands) | | Useful life | | Gross carrying amount | | Accumulated amortization | | Net carrying amount | Intangible assets with indefinite life: | | | | | | | | | | | Brands and trademarks | | Indefinite life | | $ | 974,000 | | | $ | — | | | $ | 974,000 | | Intangible assets with finite lives: | | | | | | | | | | | Customer relationships | | 15 years | | 174,000 | | | 30,103 | | | 143,897 | | Licensing agreements | | 13 years | | 22,000 | | | 6,664 | | | 15,336 | | Proprietary recipes and formulas | | 7 years | | 7,000 | | | 4,131 | | | 2,869 | | Software and website development costs | | 3 | - | 5 years | | 5,560 | | | 2,924 | | | 2,636 | | Intangible assets in progress | | 3 | - | 5 years | | 303 | | | — | | | 303 | | | | | | | | $ | 1,182,863 | | | $ | 43,822 | | | $ | 1,139,041 | |
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Schedule of Indefinite-Lived Intangible Assets |
Intangible assets, net in the Condensed Consolidated Balance Sheets consists of the following: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | February 26, 2022 | (In thousands) | | Useful life | | Gross carrying amount | | Accumulated amortization | | Net carrying amount | Intangible assets with indefinite life: | | | | | | | | | | | Brands and trademarks | | Indefinite life | | $ | 974,000 | | | $ | — | | | $ | 974,000 | | Intangible assets with finite lives: | | | | | | | | | | | Customer relationships | | 15 years | | 174,000 | | | 35,903 | | | 138,097 | | Licensing agreements | | 13 years | | 22,000 | | | 7,623 | | | 14,377 | | Proprietary recipes and formulas | | 7 years | | 7,000 | | | 4,631 | | | 2,369 | | Software and website development costs | | 3 | - | 5 years | | 5,863 | | | 3,609 | | | 2,254 | | | | | | | | | | | | | | | | | | | $ | 1,182,863 | | | $ | 51,766 | | | $ | 1,131,097 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | August 28, 2021 | (In thousands) | | Useful life | | Gross carrying amount | | Accumulated amortization | | Net carrying amount | Intangible assets with indefinite life: | | | | | | | | | | | Brands and trademarks | | Indefinite life | | $ | 974,000 | | | $ | — | | | $ | 974,000 | | Intangible assets with finite lives: | | | | | | | | | | | Customer relationships | | 15 years | | 174,000 | | | 30,103 | | | 143,897 | | Licensing agreements | | 13 years | | 22,000 | | | 6,664 | | | 15,336 | | Proprietary recipes and formulas | | 7 years | | 7,000 | | | 4,131 | | | 2,869 | | Software and website development costs | | 3 | - | 5 years | | 5,560 | | | 2,924 | | | 2,636 | | Intangible assets in progress | | 3 | - | 5 years | | 303 | | | — | | | 303 | | | | | | | | $ | 1,182,863 | | | $ | 43,822 | | | $ | 1,139,041 | |
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Estimated Future Amortization |
Estimated future amortization for each of the next five fiscal years and thereafter is as follows: | | | | | | | | | (In thousands) | | Amortization | Remainder of 2022 | | $ | 7,896 | | 2023 | | 15,602 | | 2024 | | 14,917 | | 2025 | | 13,517 | | 2026 | | 13,517 | | 2027 and thereafter | | 91,648 | | Total | | $ | 157,097 | |
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