| Schedule of Transfers to HealthEquity |
The transfer closed in a series of three tranches, as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Transfers to HealthEquity | | Applicable purchase price | | (in thousands, except HSA Assets) | HSAs | | HSA Assets
(in millions) | | Paid using cash on hand | | Paid using borrowings under the Prior Revolving Credit Facility | | Total purchase price | | March 7, 2024 | 266 | | $ | 1,071 | | | $ | 163,974 | | | $ | — | | | $ | 163,974 | | | April 11, 2024 | 134 | | 555 | | | 34,925 | | | 50,000 | | | 84,925 | | | May 9, 2024 | 216 | | 1,047 | | | 1,101 | | | 175,000 | | | 176,101 | | | Total | 616 | | $ | 2,673 | | | $ | 200,000 | | | $ | 225,000 | | | $ | 425,000 | |
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| Schedule of Finite-Lived Intangible Assets |
The useful life used for computing amortization for all intangible asset classes is described below: | | | | | | | Software and software development costs | 3 years | | Acquired customer relationships | 7-15 years | | Acquired developed technology | 2-5 years | | Acquired trade names and trademarks | 3 years | | Acquired HSA portfolios | 15 years |
The gross carrying amount and associated accumulated amortization of intangible assets were as follows: | | | | | | | | | | | | | | | | | | | January 31, 2025 | | (in thousands) | Gross carrying amount | | Accumulated amortization | | Net carrying amount | | Amortizable intangible assets: | | | | | | | Software and software development costs | $ | 312,234 | | | $ | (234,102) | | | $ | 78,132 | | | Acquired HSA portfolios | 737,011 | | | (124,606) | | | 612,405 | | | Acquired customer relationships | 759,782 | | | (256,820) | | | 502,962 | | | Acquired developed technology | 132,825 | | | (121,666) | | | 11,159 | | | Acquired trade names | 12,900 | | | (12,900) | | | — | | | Total amortizable intangible assets | $ | 1,954,752 | | | $ | (750,094) | | | $ | 1,204,658 | |
| | | | | | | | | | | | | | | | | | | January 31, 2024 | | (in thousands) | Gross carrying amount | | Accumulated amortization | | Net carrying amount | | Amortizable intangible assets: | | | | | | | Software and software development costs | $ | 267,498 | | | $ | (197,388) | | | $ | 70,110 | | | Acquired HSA portfolios | 264,445 | | | (81,059) | | | 183,386 | | | Acquired customer relationships | 759,782 | | | (205,127) | | | 554,655 | | | Acquired developed technology | 132,825 | | | (105,049) | | | 27,776 | | | Acquired trade names | 12,900 | | | (12,879) | | | 21 | | | Total amortizable intangible assets | $ | 1,437,450 | | | $ | (601,502) | | | $ | 835,948 | |
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| Schedule of Finite-Lived Intangible Assets, Future Amortization Expense |
Estimated amortization expense for the fiscal years ending January 31 is as follows: | | | | | | | Year ending January 31, (in thousands) | | | 2026 | $ | 146,511 | | | 2027 | 129,812 | | | 2028 | 111,644 | | | 2029 | 98,155 | | | 2030 | 97,130 | | | Thereafter | 621,406 | | | Total | $ | 1,204,658 | |
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