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INTANGIBLE ASSETS (Tables) | 6 Months Ended
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Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Intangible Assets | Intangible assets consist of the following (in thousands):
|  | December 31, 2016 |  |  |
|  | Gross Carrying Amount |  | Accumulated Amortization |  | Weighted Average Amortization Period |
Amortizable Intangible Assets: |  |  |  |  |  |  |  |  |
Student Relationships |  | $ | 12,657 |  | $ | (8,324) |  | 5 Years |
Customer Relationships |  |  | 42,900 |  |  | (2,547) |  | 10 Years |
Non-compete Agreements |  |  | 1,640 |  |  | (1,226) |  | 3 Years |
Curriculum/Software |  |  | 8,143 |  |  | (2,206) |  | 4 Years |
Franchise Contracts |  |  | 10,783 |  |  | (1,148) |  | 18 Years |
Clinical Agreements |  |  | 399 |  |  | (93) |  | 15 Years |
Trade Names |  |  | 1,163 |  |  | (901) |  | 10 Years |
Proprietary Technology |  |  | 500 |  |  | (63) |  | 4 Years |
Total |  | $ | 78,185 |  | $ | (16,508) |  |  |
Indefinite-lived Intangible Assets: |  |  |  |  |  |  |  |  |
Trade Names |  | $ | 110,048 |  |  |  |  |  |
Trademarks |  |  | 1,645 |  |  |  |  |  |
Ross Title IV Eligibility and Accreditations |  |  | 14,100 |  |  |  |  |  |
Intellectual Property |  |  | 13,940 |  |  |  |  |  |
Chamberlain Title IV Eligibility and Accreditations |  |  | 1,200 |  |  |  |  |  |
Carrington Title IV Eligibility and Accreditations |  |  | 20,200 |  |  |  |  |  |
AUC Title IV Eligibility and Accreditations |  |  | 100,000 |  |  |  |  |  |
DeVry Brasil Accreditation |  |  | 98,718 |  |  |  |  |  |
Total |  | $ | 359,851 |  |  |  |  |  |
|  | June 30, 2016 |
|  | Gross Carrying Amount |  | Accumulated Amortization |
Amortizable Intangible Assets: |  |  |  |  |  |  |
Student Relationships |  | $ | 14,530 |  | $ | (7,150) |
Customer Relationships |  |  | 400 |  |  | (170) |
Non-compete Agreements |  |  | 940 |  |  | (799) |
Curriculum/Software |  |  | 4,038 |  |  | (1,914) |
Franchise Contracts |  |  | 10,968 |  |  | (863) |
Clinical Agreements |  |  | 406 |  |  | (81) |
Trade Names |  |  | 1,183 |  |  | (858) |
Total |  | $ | 32,465 |  | $ | (11,835) |
Indefinite-lived Intangible Assets: |  |  |  |  |  |  |
Trade Names |  | $ | 70,731 |  |  |  |
Trademarks |  |  | 1,645 |  |  |  |
Ross Title IV Eligibility and Accreditations |  |  | 14,100 |  |  |  |
Intellectual Property |  |  | 13,940 |  |  |  |
Chamberlain Title IV Eligibility and Accreditations |  |  | 1,200 |  |  |  |
Carrington Title IV Eligibility and Accreditations |  |  | 20,200 |  |  |  |
AUC Title IV Eligibility and Accreditations |  |  | 100,000 |  |  |  |
DeVry Brasil Accreditation |  |  | 100,410 |  |  |  |
Total |  | $ | 322,226 |  |  |  |
|  | December 31, 2015 |
|  | Gross Carrying Amount |  | Accumulated Amortization |
Amortizable Intangible Assets: |  |  |  |  |  |  |
Student Relationships |  | $ | 11,739 |  | $ | (4,128) |
Customer Relationships |  |  | 400 |  |  | (150) |
Test Prep Relationships |  |  | 808 |  |  | (741) |
Non-compete Agreements |  |  | 940 |  |  | (705) |
Curriculum/Software |  |  | 3,692 |  |  | (1,587) |
Outplacement Relationships |  |  | 3,900 |  |  | (1,894) |
Franchise Contracts |  |  | 8,861 |  |  | (451) |
Clinical Agreements |  |  | 328 |  |  | (55) |
Trade Names |  |  | 957 |  |  | (645) |
Total |  | $ | 31,625 |  | $ | (10,356) |
Indefinite-lived Intangible Assets: |  |  |  |  |  |  |
Trade Names |  | $ | 63,667 |  |  |  |
Trademarks |  |  | 1,645 |  |  |  |
Ross Title IV Eligibility and Accreditations |  |  | 14,100 |  |  |  |
Intellectual Property |  |  | 13,940 |  |  |  |
Chamberlain Title IV Eligibility and Accreditations |  |  | 1,200 |  |  |  |
Carrington Title IV Eligibility and Accreditations |  |  | 60,700 |  |  |  |
AUC Title IV Eligibility and Accreditations |  |  | 100,000 |  |  |  |
DeVry Brasil Accreditation |  |  | 81,380 |  |  |  |
Total |  | $ | 336,632 |  |  |  |
Estimated Amortization Expense for Amortized Intangible Assets | Estimated amortization expense for amortizable intangible assets for the next five fiscal years ending June 30 and in the aggregate, by reporting unit, is as follows (in thousands):
Fiscal Year |  | DeVry Brasil |  | Becker |  | Total |
2017 |  | $ | 3,635 |  | $ | 7,482 |  | $ | 11,117 |
2018 |  |  | 2,912 |  |  | 6,501 |  |  | 9,413 |
2019 |  |  | 2,093 |  |  | 6,422 |  |  | 8,515 |
2020 |  |  | 1,474 |  |  | 4,671 |  |  | 6,145 |
2021 |  |  | 923 |  |  | 4,440 |  |  | 5,363 |
Thereafter |  |  | 7,125 |  |  | 19,686 |  |  | 26,811 |
Changes in Carrying Amount of Goodwill, by Segment | The table below summarizes goodwill balances by reporting unit (in thousands):
|  | December 31, |  | June 30 |  | December 31, |
Reporting Unit |  | 2016 |  | 2016 |  | 2015 |
AUC |  | $ | 68,321 |  | $ | 68,321 |  | $ | 68,321 |
RUSM and RUSVM |  |  | 237,173 |  |  | 237,173 |  |  | 237,173 |
Chamberlain |  |  | 4,716 |  |  | 4,716 |  |  | 4,716 |
Carrington |  |  | - |  |  | - |  |  | 5,811 |
DeVry Brasil |  |  | 216,050 |  |  | 223,558 |  |  | 172,274 |
Becker |  |  | 306,382 |  |  | 32,043 |  |  | 32,503 |
DeVry University |  |  | 22,196 |  |  | 22,196 |  |  | 22,196 |
Total |  | $ | 854,838 |  | $ | 588,007 |  | $ | 542,994 |
The table below summarizes goodwill balances by reporting segment (in thousands):
|  | December 31, |  | June 30, |  | December 31, |
Reporting Segment |  | 2016 |  | 2016 |  | 2015 |
Medical and Healthcare |  | $ | 310,210 |  | $ | 310,210 |  | $ | 316,021 |
International and Professional Education |  |  | 522,432 |  |  | 255,601 |  |  | 204,777 |
Business, Technology and Management |  |  | 22,196 |  |  | 22,196 |  |  | 22,196 |
Total |  | $ | 854,838 |  | $ | 588,007 |  | $ | 542,994 |
The table below summarizes the changes in the carrying amount of goodwill by segment (in thousands):
|  | Medical and Healthcare |  | International |  | Business, |  |  |  |
|  |  |  |  | Accumulated |  | and |  | Technology |  |  |  |
|  |  |  |  | Impairment |  | Professional |  | and |  |  |  |
|  | Gross |  | Losses |  | Education |  | Management |  | Total |
Balance at June 30, 2014 |  | $ | 495,927 |  | $ | (86,933) |  | $ | 88,689 |  | $ | 22,196 |  | $ | 519,879 |
Acquisitions |  |  | - |  |  | - |  |  | 55,915 |  |  | - |  |  | 55,915 |
Foreign currency exchange rate changes |  |  | - |  |  | - |  |  | (23,465) |  |  | - |  |  | (23,465) |
Balance at June 30, 2015 |  |  | 495,927 |  |  | (86,933) |  |  | 121,139 |  |  | 22,196 |  |  | 552,329 |
Acquisitions |  |  | - |  |  | - |  |  | 104,613 |  |  | - |  |  | 104,613 |
Impairments |  |  | - |  |  | (92,973) |  |  | - |  |  | - |  |  | (92,973) |
Foreign currency exchange rate changes |  |  | - |  |  | - |  |  | (20,975) |  |  | - |  |  | (20,975) |
Balance at December 31, 2015 |  |  | 495,927 |  |  | (179,906) |  |  | 204,777 |  |  | 22,196 |  |  | 542,994 |
Purchase Accounting Adjustments |  |  | - |  |  | - |  |  | 4,575 |  |  | - |  |  | 4,575 |
Acquisitions |  |  | - |  |  | - |  |  | 11,394 |  |  | - |  |  | 11,394 |
Impairments |  |  | - |  |  | (5,811) |  |  | - |  |  | - |  |  | (5,811) |
Foreign currency exchange rate changes |  |  | - |  |  | - |  |  | 34,855 |  |  | - |  |  | 34,855 |
Balance at June 30, 2016 |  |  | 495,927 |  |  | (185,717) |  |  | 255,601 |  |  | 22,196 |  |  | 588,007 |
Purchase Accounting Adjustments |  |  | - |  |  | - |  |  | (3,122) |  |  | - |  |  | (3,122) |
Acquisitions |  |  | - |  |  | - |  |  | 274,620 |  |  | - |  |  | 274,620 |
Foreign currency exchange rate changes |  |  | - |  |  | - |  |  | (4,667) |  |  | - |  |  | (4,667) |
Balance at December 31, 2016 |  | $ | 495,927 |  | $ | (185,717) |  | $ | 522,432 |  | $ | 22,196 |  | $ | 854,838 |
Summary of Indefinite-Lived Intangible Assets Balances by Reporting Segment | The table below summarizes the indefinite-lived intangible asset balances by reporting segment (in thousands):
|  | December 31, |  | June 30, |  | December 31, |
Reporting Segment |  | 2016 |  | 2016 |  | 2015 |
Medical and Healthcare |  | $ | 157,700 |  | $ | 157,700 |  | $ | 198,200 |
International and Professional Education |  |  | 200,506 |  |  | 162,881 |  |  | 136,787 |
Business, Technology and Management |  |  | 1,645 |  |  | 1,645 |  |  | 1,645 |
Total |  | $ | 359,851 |  | $ | 322,226 |  | $ | 336,632 |

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