
(In thousands)	Goodwill
Balance as of August 31, 2024	$	591,687
Acquisition of business	(1,713)
Balance as of May 31, 2025	$	589,974

The change in the Company's Goodwill from August 31, 2024, to May 31, 2025, is the result of the acquisition method of accounting related to the OWYN Acquisition, as described in Note 3. There were no impairment charges related to goodwill during the thirteen and thirty-nine weeks ended May 31, 2025, or since the inception of the Company.


				May 31, 2025
(In thousands)	Useful life			Gross carrying amount		Accumulated amortization		Net carrying amount
Intangible assets with indefinite life:
Brands and trademarks	Indefinite life			$	1,197,000	$	—	$	1,197,000
Intangible assets with finite lives:
Customer relationships	15 years			194,500		74,896		119,604
Licensing agreements	13 years			22,000		13,853		8,147
Proprietary recipes and formulas	7 years			7,000		7,000		—
Software and website development costs	3	-	5 years	5,034		4,947		87
Intangible assets in progress	3	-	5 years	1,115		—		1,115
				$	1,426,649	$	100,696	$	1,325,953


				August 31, 2024
(In thousands)	Useful life			Gross carrying amount		Accumulated amortization		Net carrying amount
Intangible assets with indefinite life:
Brands and trademarks	Indefinite life			$	1,197,000	$	—	$	1,197,000
Intangible assets with finite lives:
Customer relationships	15 years			194,500		65,171		129,329
Licensing agreements	13 years			22,000		12,415		9,585
Proprietary recipes and formulas	7 years			7,000		7,000		—
Software and website development costs	3	-	5 years	5,034		4,921		113
Intangible assets in progress	3	-	5 years	439		—		439
				$	1,425,973	$	89,507	$	1,336,466

Changes in Intangible assets, net during the thirty-nine weeks ended May 31, 2025, were primarily related to recurring amortization expense. Amortization expense related to intangible assets was $3.7 million for the thirteen weeks ended May 31, 2025, and May 25, 2024, and $11.2 million and $11.4 million for the thirty-nine weeks ended May 31, 2025, and May 25, 2024, respectively. There were no impairment charges related to its finite-lived intangible assets during the thirteen and thirty-nine weeks ended May 31, 2025, and May 25, 2024.


(In thousands)	Amortization
Remainder of 2025	$	3,728
2026	14,891
2027	14,891
2028	14,891
2029	14,891
2030 and thereafter	64,546
Total	$	127,838