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INTANGIBLE ASSETS (Tables)

9 Months Ended

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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Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
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-Publisher FASB
-Name Accounting Standards Codification
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