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Goodwill and Intangible Assets

6 Months Ended

Feb. 26, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

The changes in the carrying amount of goodwill by reportable segment, with no accumulated impairment losses, for the six months ended February 26, 2022 and February 27, 2021 are as follows:

(in thousands)			Towable						Motorhome						Marine						Total
Balances at August 29, 2020 and February 27, 2021(1)			$	244,684					$	73,127					$	30,247					$	348,058
Balances at August 28, 2021			$	244,684					$	73,127					$	30,247					$	348,058
Acquisition of Barletta(2)			—						—						136,118						136,118
Balances at February 26, 2022			$	244,684					$	73,127					$	166,365					$	484,176

(1)    There was no activity in the six months ended February 27, 2021.

(2)    The change in marine activity is related to the acquisition of Barletta that occurred on August 31, 2021. See Note 2 to the Consolidated Financial Statements included in Item 1 of Part I of this quarterly report on Form 10-Q.

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

			February 26, 2022
(in thousands)			Gross Carrying Amount						Accumulated Amortization						Net Carrying Value
Trade names			$	352,250					$	—					$	352,250
Dealer networks			179,981						$	53,084					126,897
Backlog			42,327						36,727						5,600
Non-compete agreements			6,647						5,775						872
Other intangible assets			$	581,205					$	95,586					$	485,619
			August 28, 2021
(in thousands)			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

The weighted average remaining amortization period for intangible assets as of February 26, 2022 was approximately 9 years.

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

(in thousands)			Amount
Remainder of Fiscal 2022			$	13,232
Fiscal 2023			15,226
Fiscal 2024			15,124
Fiscal 2025			14,919
Fiscal 2026			14,865
Fiscal 2027			14,865
Thereafter			45,138
Total amortization expense remaining			$	133,369

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- Definition

The entire disclosure for goodwill and intangible assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-URI http://asc.fasb.org/topic&trid=2144416

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