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Goodwill | 12 Months Ended
--- | ---
Apr. 30, 2024
Goodwill. |
Goodwill | 6. Goodwill ​ The following table presents the changes in the Company’s goodwill balance (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | UxS | ​ | LMS | ​ | MW | ​ | Total
Balance at April 30, 2023 | ​ | $ | 161,547 | ​ | $ | — | ​ | $ | 19,254 | ​ | $ | 180,801
Additions to goodwill | ​ | ​ | 95,414 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 95,414
Change to goodwill | ​ | ​ | (563) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (563)
Balance at April 30, 2024 | ​ | $ | 256,398 | ​ | $ | — | ​ | $ | 19,254 | ​ | $ | 275,652
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | UxS | ​ | LMS | ​ | MW | ​ | Total
Balance at April 30, 2022 | ​ | $ | 315,093 | ​ | $ | — | ​ | $ | 19,254 | ​ | $ | 334,347
Additions to goodwill | ​ | ​ | 1,633 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,633
Change to goodwill | ​ | ​ | 838 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 838
Impairment of goodwill | ​ | ​ | (156,017) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (156,017)
Balance at April 30, 2023 | ​ | $ | 161,547 | ​ | $ | — | ​ | $ | 19,254 | ​ | $ | 180,801
​ The addition during the fiscal year ended April 30, 2024 to the UxS segment relates to the Tomahawk Acquisition. The addition during the fiscal year ended April 30, 2023 to the UxS segment relates to the Planck Acquisition. The change to goodwill during the fiscal years ended April 30, 2024 and 2023 in UxS is attributable to the translation of the goodwill related to the Telerob Acquisition, which was recorded in Euros and translated to dollars at each reporting date. Refer to Note 21—Business Acquisitions for further details. ​ Subsequent to the performance of the Company’s annual goodwill impairment test, in May 2023, a trigger event was identified that indicated that the carrying value of the MUAS reporting unit exceeded its fair value. Specifically, the Company received notification that it was not down selected for a U.S. DoD program of record which resulted in a significant decrease in the projected future cash flows of the MUAS reporting unit. As a result, the Company updated its estimates of long-term future cash flows to reflect lower revenue and EBITDA growth rate expectations used in the valuation of the MUAS reporting unit. These changes in estimates resulted in the recognition of a goodwill impairment charge of $156,017,000 in the MUAS reporting unit. ​ The estimated fair value of the MUAS reporting unit does not substantially exceed its carrying value due to the impairment recorded during the fourth quarter ended April 30, 2023, resulting in carrying value being equal to estimated fair value. The fair value of the MUAS reporting unit exceeded the carrying value by 10% as of January 28, 2024, the date of the most recent annual goodwill impairment test. Fair value determinations utilized in the quantitative goodwill impairment test require considerable judgment and are sensitive to changes in underlying assumptions, estimates, and market factors. Estimating the fair value of individual reporting units requires us to make assumptions and estimates regarding future plans, as well as industry, economic, and regulatory conditions. These assumptions and estimates include estimated future annual net cash flows, income tax rates, discount rates, growth rates, and other market factors. Estimated future annual net cash flows based in part upon the Company’s ability to obtain contracts from the U.S. DoD and foreign allied nations and negotiate the estimated pricing are considered the most significant, sensitive assumptions. If current expectations of future growth rates and margins are not met, if market factors outside of the Company’s control, such as discount rates, income tax rates, or inflation, change, or if management’s expectations or plans otherwise change, including updates to long-term operating plans, then MUAS may become impaired in the future. Accordingly, the MUAS reporting unit is considered at an increased risk of failing future quantitative goodwill impairment tests. During the most recent annual impairment test during the fourth quarter of fiscal year 2024, the estimated fair value of all reporting units, other than MUAS, substantially exceeded their carrying value.

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