XML 39 R30.htm IDEA: XBRL DOCUMENT
v3.10.0.1

INTANGIBLE ASSETS (Tables) | 6 Months Ended
--- | ---
Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Intangible Assets | Intangible assets consist of the following (in thousands):
|  | December 31, 2018 |  |  |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Weighted Average Amortization Period
Amortizable Intangible Assets: |  |  |  |  |  |  |  |  |  |
Student Relationships |  | $ | 8,039 |  |  | $ | (7,352 | ) |  | 5 Years
Customer Relationships |  |  | 42,900 |  |  |  | (11,913 | ) |  | 10 Years
Curriculum/Software |  |  | 6,829 |  |  |  | (5,279 | ) |  | 4 Years
Franchise Contracts |  |  | 9,044 |  |  |  | (1,968 | ) |  | 18 Years
Clinical Agreements |  |  | 335 |  |  |  | (123 | ) |  | 15 Years
Trade Names |  |  | 975 |  |  |  | (951 | ) |  | 10 Years
Proprietary Technology |  |  | 500 |  |  |  | (312 | ) |  | 4 Years
Total |  | $ | 68,622 |  |  | $ | (27,898 | ) |  |
Indefinite-Lived Intangible Assets: |  |  |  |  |  |  |  |  |  |
Trade Names |  | $ | 106,049 |  |  |  |  |  |  |
Ross Title IV Eligibility and Accreditations |  |  | 14,100 |  |  |  |  |  |  |
Intellectual Property |  |  | 13,940 |  |  |  |  |  |  |
Chamberlain Title IV Eligibility and Accreditations |  |  | 1,200 |  |  |  |  |  |  |
AUC Title IV Eligibility and Accreditations |  |  | 100,000 |  |  |  |  |  |  |
Adtalem Brazil Accreditation |  |  | 82,402 |  |  |  |  |  |  |
Total |  | $ | 317,691 |  |  |  |  |  |  |
|  | June 30, 2018 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |
Amortizable Intangible Assets: |  |  |  |  |  |  |  |
Student Relationships |  | $ | 8,193 |  |  | $ | (6,972 | )
Customer Relationships |  |  | 42,900 |  |  |  | (9,598 | )
Non-compete Agreements |  |  | 700 |  |  |  | (700 | )
Curriculum/Software |  |  | 6,833 |  |  |  | (4,265 | )
Franchise Contracts |  |  | 9,064 |  |  |  | (1,720 | )
Clinical Agreements |  |  | 336 |  |  |  | (112 | )
Trade Names |  |  | 976 |  |  |  | (904 | )
Proprietary Technology |  |  | 500 |  |  |  | (250 | )
Total |  | $ | 69,502 |  |  | $ | (24,521 | )
Indefinite-Lived Intangible Assets: |  |  |  |  |  |  |  |
Trade Names |  | $ | 106,132 |  |  |  |  |
Ross Title IV Eligibility and Accreditations |  |  | 14,100 |  |  |  |  |
Intellectual Property |  |  | 13,940 |  |  |  |  |
Chamberlain Title IV Eligibility and Accreditations |  |  | 1,200 |  |  |  |  |
AUC Title IV Eligibility and Accreditations |  |  | 100,000 |  |  |  |  |
Adtalem Brazil Accreditation |  |  | 82,578 |  |  |  |  |
Total |  | $ | 317,950 |  |  |  |  |
|  | December 31, 2017 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |
Amortizable Intangible Assets: |  |  |  |  |  |  |  |
Student Relationships |  | $ | 11,049 |  |  | $ | (8,999 | )
Customer Relationships |  |  | 42,900 |  |  |  | (7,261 | )
Non-compete Agreements |  |  | 700 |  |  |  | (682 | )
Curriculum/Software |  |  | 7,143 |  |  |  | (3,375 | )
Franchise Contracts |  |  | 10,597 |  |  |  | (1,717 | )
Clinical Agreements |  |  | 392 |  |  |  | (118 | )
Trade Names |  |  | 1,143 |  |  |  | (1,000 | )
Proprietary Technology |  |  | 500 |  |  |  | (187 | )
Total |  | $ | 74,424 |  |  | $ | (23,339 | )
Indefinite-Lived Intangible Assets: |  |  |  |  |  |  |  |
Trade Names |  | $ | 109,462 |  |  |  |  |
Ross Title IV Eligibility and Accreditations |  |  | 14,100 |  |  |  |  |
Intellectual Property |  |  | 13,940 |  |  |  |  |
Chamberlain Title IV Eligibility and Accreditations |  |  | 1,200 |  |  |  |  |
AUC Title IV Eligibility and Accreditations |  |  | 100,000 |  |  |  |  |
Adtalem Brazil Accreditation |  |  | 97,013 |  |  |  |  |
Total |  | $ | 335,715 |  |  |  |  |
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):
|  | Professional |  |  | Adtalem |  |  |  |
Fiscal Year |  | Education |  |  | Brazil |  |  | Total |
2019 (excluding the six months ended December 31, 2018) |  | $ | 3,211 |  |  | $ | 712 |  |  | $ | 3,923 |
2020 |  |  | 4,671 |  |  |  | 1,246 |  |  |  | 5,917 |
2021 |  |  | 4,440 |  |  |  | 774 |  |  |  | 5,214 |
2022 |  |  | 4,300 |  |  |  | 525 |  |  |  | 4,825 |
2023 |  |  | 4,119 |  |  |  | 525 |  |  |  | 4,644 |
Thereafter |  |  | 11,268 |  |  |  | 4,933 |  |  |  | 16,201 |
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 |  | 2018 |  |  | 2018 |  |  | 2017 |
Chamberlain |  | $ | 4,716 |  |  | $ | 4,716 |  |  | $ | 4,716 |
AUC |  |  | 68,321 |  |  |  | 68,321 |  |  |  | 68,321 |
RUSM and RUSVM |  |  | 237,173 |  |  |  | 237,173 |  |  |  | 237,173 |
Professional Education |  |  | 317,384 |  |  |  | 317,699 |  |  |  | 306,808 |
Adtalem Brazil |  |  | 185,582 |  |  |  | 185,978 |  |  |  | 215,925 |
Total |  | $ | 813,176 |  |  | $ | 813,887 |  |  | $ | 832,943 |
The table below summarizes goodwill balances by reporting segment (in thousands):
|  | December 31, |  |  | June 30, |  |  | December 31, |
Reporting Segment |  | 2018 |  |  | 2018 |  |  | 2017 |
Medical and Healthcare |  | $ | 310,210 |  |  | $ | 310,210 |  |  | $ | 310,210 |
Professional Education |  |  | 317,384 |  |  |  | 317,699 |  |  |  | 306,808 |
Technology and Business |  |  | 185,582 |  |  |  | 185,978 |  |  |  | 215,925 |
Total |  | $ | 813,176 |  |  | $ | 813,887 |  |  | $ | 832,943 |
The table below summarizes the changes in goodwill balances by reporting segment (in thousands):
|  | Medical and Healthcare |  |  | Professional Education |  |  | Technology and Business |  |  | Total |
Balance at June 30, 2017 |  |  | 310,210 |  |  |  | 306,653 |  |  |  | 212,223 |  |  |  | 829,086 |
Acquisitions |  |  | - |  |  |  | - |  |  |  | 4,121 |  |  |  | 4,121 |
Foreign exchange rate changes |  |  | - |  |  |  | 155 |  |  |  | (419 | ) |  |  | (264 | )
Balance at December 31, 2017 |  |  | 310,210 |  |  |  | 306,808 |  |  |  | 215,925 |  |  |  | 832,943 |
Acquisitions |  |  | - |  |  |  | 11,527 |  |  |  | - |  |  |  | 11,527 |
Purchase accounting adjustments |  |  | - |  |  |  | - |  |  |  | 1,515 |  |  |  | 1,515 |
Foreign exchange rate changes |  |  | - |  |  |  | (636 | ) |  |  | (31,462 | ) |  |  | (32,098 | )
Balance at June 30, 2018 |  |  | 310,210 |  |  |  | 317,699 |  |  |  | 185,978 |  |  |  | 813,887 |
Foreign exchange rate changes |  |  | - |  |  |  | (315 | ) |  |  | (396 | ) |  |  | (711 | )
Balance at December 31, 2018 |  | $ | 310,210 |  |  | $ | 317,384 |  |  | $ | 185,582 |  |  | $ | 813,176 |
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 |  | 2018 |  |  | 2018 |  |  | 2017 |
Medical and Healthcare |  | $ | 137,500 |  |  | $ | 137,500 |  |  | $ | 137,500 |
Professional Education |  |  | 69,105 |  |  |  | 69,126 |  |  |  | 67,812 |
Technology and Business |  |  | 111,086 |  |  |  | 111,324 |  |  |  | 130,403 |
Total |  | $ | 317,691 |  |  | $ | 317,950 |  |  | $ | 335,715 |

X
- Definition Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination. + References No definition available. + Details
Name: | us-gaap_FiniteLivedAndIndefiniteLivedIntangibleAssetsAcquiredAsPartOfBusinessCombinationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13816-109267 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13854-109267 + Details
Name: | us-gaap_ScheduleOfGoodwillTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance and exist in perpetuity, by either major class or business segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -Subparagraph (b),(d) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16373-109275 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details
Name: | us-gaap_ScheduleOfIndefiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details
Name: | us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration