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INTANGIBLE ASSETS (Tables) | 9 Months Ended
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Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Intangible Assets | Intangible assets consist of the following (in thousands):
|  | March 31, 2017 |  |  |
|  | Gross |  |  |  | Weighted Average |
|  | Carrying |  | Accumulated |  | Amortization |
|  | Amount |  | Amortization |  | Period |
Amortizable Intangible Assets: |  |  |  |  |  |  |  |  |
Student Relationships |  | $ | 13,014 |  | $ | (9,149) |  | 5 Years |
Customer Relationships |  |  | 42,900 |  |  | (3,735) |  | 10 Years |
Non-compete Agreements |  |  | 1,640 |  |  | (1,439) |  | 3 Years |
Curriculum/Software |  |  | 8,113 |  |  | (2,699) |  | 4 Years |
Franchise Contracts |  |  | 11,087 |  |  | (1,335) |  | 18 Years |
Clinical Agreements |  |  | 411 |  |  | (102) |  | 15 Years |
Trade Names |  |  | 1,196 |  |  | (957) |  | 10 Years |
Proprietary Technology |  |  | 500 |  |  | (94) |  | 4 Years |
Total |  | $ | 78,861 |  | $ | (19,510) |  |  |
Indefinite-Lived Intangible Assets: |  |  |  |  |  |  |  |  |
Trade Names |  | $ | 111,008 |  |  |  |  |  |
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 Brazil Accreditation |  |  | 101,505 |  |  |  |  |  |
Total |  | $ | 363,598 |  |  |  |  |  |
|  | June 30, 2016 |
|  | Gross |  |  |
|  | Carrying |  | Accumulated |
|  | Amount |  | 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 Brazil Accreditation |  |  | 100,410 |  |  |  |
Total |  | $ | 322,226 |  |  |  |
|  | March 31, 2016 |
|  | Gross |  |  |
|  | Carrying |  | Accumulated |
|  | Amount |  | Amortization |
Amortizable Intangible Assets: |  |  |  |  |  |  |
Student Relationships |  | $ | 13,082 |  | $ | (5,430) |
Customer Relationships |  |  | 400 |  |  | (160) |
Test Prep Relationships |  |  | 900 |  |  | (900) |
Non-compete Agreements |  |  | 940 |  |  | (752) |
Curriculum/Software |  |  | 3,881 |  |  | (1,786) |
Outplacement Relationships |  |  | 3,900 |  |  | (1,959) |
Franchise Contracts |  |  | 9,875 |  |  | (640) |
Clinical Agreements |  |  | 366 |  |  | (67) |
Trade Names |  |  | 1,064 |  |  | (746) |
Total |  | $ | 34,408 |  | $ | (12,440) |
Indefinite-Lived Intangible Assets: |  |  |  |  |  |  |
Trade Names |  | $ | 66,808 |  |  |  |
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 Brazil Accreditation |  |  | 90,685 |  |  |  |
Total |  | $ | 349,078 |  |  |  |
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 Brazil |  | Becker |  | Total |
2017 |  | $ | 3,721 |  | $ | 7,482 |  | $ | 11,203 |
2018 |  |  | 2,994 |  |  | 6,501 |  |  | 9,495 |
2019 |  |  | 2,152 |  |  | 6,422 |  |  | 8,574 |
2020 |  |  | 1,515 |  |  | 4,671 |  |  | 6,186 |
2021 |  |  | 949 |  |  | 4,440 |  |  | 5,389 |
Thereafter |  |  | 7,326 |  |  | 19,686 |  |  | 27,012 |
Changes in Carrying Amount of Goodwill, by Segment | The table below summarizes goodwill balances by reporting unit (in thousands):
|  | March 31, |  | June 30 |  | March 31, |
Reporting Unit |  | 2017 |  | 2016 |  | 2016 |
Chamberlain |  | $ | 4,716 |  | $ | 4,716 |  | $ | 4,716 |
AUC |  |  | 68,321 |  |  | 68,321 |  |  | 68,321 |
RUSM and RUSVM |  |  | 237,173 |  |  | 237,173 |  |  | 237,173 |
Becker |  |  | 306,444 |  |  | 32,043 |  |  | 32,386 |
DeVry Brazil |  |  | 222,151 |  |  | 223,558 |  |  | 194,409 |
DeVry University |  |  | 22,196 |  |  | 22,196 |  |  | 22,196 |
Carrington |  |  | - |  |  | - |  |  | 5,811 |
Total |  | $ | 861,001 |  | $ | 588,007 |  | $ | 565,012 |
The table below summarizes goodwill balances by reporting segment (in thousands):
|  | March 31, |  | June 30, |  | March 31, |
Reporting Segment |  | 2017 |  | 2016 |  | 2016 |
Medical and Healthcare |  | $ | 310,210 |  | $ | 310,210 |  | $ | 310,210 |
Professional Education |  |  | 306,444 |  |  | 32,043 |  |  | 32,386 |
Technology and Business |  |  | 222,151 |  |  | 223,558 |  |  | 194,409 |
U.S. Traditional Postsecondary |  |  | 22,196 |  |  | 22,196 |  |  | 28,007 |
Total |  | $ | 861,001 |  | $ | 588,007 |  | $ | 565,012 |
The table below summarizes the changes in the carrying amount of goodwill by segment (in thousands):
|  |  |  |  |  |  |  | U.S. Traditional |  |  |
|  |  |  |  |  |  |  | Postsecondary |  |  |
|  | Medical |  |  |  | Technology |  |  |  | Accumulated |  |  |
|  | and |  | Professional |  | and |  |  |  | Impairment |  |  |
|  | Healthcare |  | Education |  | Business |  | Gross |  | Losses |  | Total |
Balance at June 30, 2014 |  | $ | 310,210 |  | $ | 33,217 |  | $ | 55,472 |  | $ | 207,913 |  | $ | (86,933) |  | $ | 519,879 |
Acquisitions |  |  | - |  |  | - |  |  | 55,915 |  |  | - |  |  | - |  |  | 55,915 |
Foreign exchange rate changes |  |  | - |  |  | (420) |  |  | (23,045) |  |  | - |  |  | - |  |  | (23,465) |
Balance at June 30, 2015 |  |  | 310,210 |  |  | 32,797 |  |  | 88,342 |  |  | 207,913 |  |  | (86,933) |  |  | 552,329 |
Purchase Accounting Adjustments |  |  | - |  |  | - |  |  | 4,575 |  |  | - |  |  | - |  |  | 4,575 |
Acquisitions |  |  | - |  |  | - |  |  | 108,246 |  |  | - |  |  | - |  |  | 108,246 |
Impairments |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (92,973) |  |  | (92,973) |
Foreign exchange rate changes |  |  | - |  |  | (411) |  |  | (6,754) |  |  | - |  |  | - |  |  | (7,165) |
Balance at March 31, 2016 |  |  | 310,210 |  |  | 32,386 |  |  | 194,409 |  |  | 207,913 |  |  | (179,906) |  |  | 565,012 |
Acquisitions |  |  | - |  |  | - |  |  | 7,761 |  |  | - |  |  | - |  |  | 7,761 |
Impairments |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (5,811) |  |  | (5,811) |
Foreign exchange rate changes |  |  | - |  |  | (343) |  |  | 21,388 |  |  | - |  |  | - |  |  | 21,045 |
Balance at June 30, 2016 |  |  | 310,210 |  |  | 32,043 |  |  | 223,558 |  |  | 207,913 |  |  | (185,717) |  |  | 588,007 |
Purchase Accounting Adjustments |  |  | - |  |  | - |  |  | (3,122) |  |  | - |  |  | - |  |  | (3,122) |
Acquisitions |  |  | - |  |  | 274,620 |  |  | - |  |  | - |  |  | - |  |  | 274,620 |
Foreign exchange rate changes |  |  | - |  |  | (219) |  |  | 1,715 |  |  | - |  |  | - |  |  | 1,496 |
Balance at March 31, 2017 |  | $ | 310,210 |  | $ | 306,444 |  | $ | 222,151 |  | $ | 207,913 |  | $ | (185,717) |  | $ | 861,001 |
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):
|  | March 31, |  | June 30, |  | March 31, |
Reporting Segment |  | 2017 |  | 2016 |  | 2016 |
Medical and Healthcare |  | $ | 137,500 |  | $ | 137,500 |  | $ | 137,500 |
Professional Education |  |  | 67,812 |  |  | 27,912 |  |  | 27,912 |
Technology and Business |  |  | 136,441 |  |  | 134,969 |  |  | 121,321 |
U.S. Traditional Postsecondary |  |  | 21,845 |  |  | 21,845 |  |  | 62,345 |
Total |  | $ | 363,598 |  | $ | 322,226 |  | $ | 349,078 |

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