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Goodwill and Intangible Assets (Tables)

12 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in Carrying Amount of Goodwill

The table below summarizes goodwill balances by reporting unit (in thousands):

​	​	​	​	​	​	​
​		June 30,
Reporting Unit	​	2020		​	2019
Chamberlain	​	$	4,716	​	$	4,716
AUC	​		68,321	​		68,321
RUSM and RUSVM	​		237,173	​		237,173
Financial Services	​		376,004	​		377,046
Total	​	$	686,214	​	$	687,256

The table below summarizes goodwill balances by reportable segment (in thousands):

​	​	​	​	​	​	​
​	​	June 30,
Reportable Segment		2020			2019
Medical and Healthcare	​	$	310,210	​	$	310,210
Financial Services	​		376,004	​		377,046
Total	​	$	686,214	​	$	687,256

The table below summarizes the changes in the carrying amount of goodwill by reportable segment (in thousands):

​	​	​	​	​	​	​	​	​	​
​		Medical and			Financial			​	​
​	​	Healthcare		​	Services		​	Total
June 30, 2018	​	$	310,210	​	$	317,699	​	$	627,909
Acquisitions	​	​	—	​	​	59,519	​	​	59,519
Foreign exchange rate changes		​	—		​	(172)		​	(172)
June 30, 2019	​	​	310,210	​	​	377,046	​	​	687,256
Purchase accounting adjustments		​	—		​	(92)		​	(92)
Foreign exchange rate changes		​	—		​	(950)		​	(950)
June 30, 2020	​	$	310,210	​	$	376,004	​	$	686,214

Schedule of Intangible Assets

Intangible assets consist of the following (in thousands):

​	​	​	​	​	​	​	​	​
​	​	June 30, 2020					​	​
​		Gross			​	​		Weighted-Average
​	​	Carrying		​	Accumulated		​	Amortization
​	​	Amount		​	Amortization		​	Period
Amortizable intangible assets:		​	​		​
Customer relationships	​	$	68,900	​	$	(21,044)		10 Years
Curriculum/software	​		11,600	​		(2,094)		6 Years
Course delivery technology	​		7,200	​		(1,952)		5 Years
Total	​	$	87,700	​	$	(25,090)
Indefinite-lived intangible assets:	​			​
Trade names	​	$	95,664	​
Chamberlain Title IV eligibility and accreditations	​		1,200	​
AUC Title IV eligibility and accreditations	​		100,000	​
Ross Title IV eligibility and accreditations	​		14,100	​
Intellectual property	​		13,940	​
Total	​	$	224,904	​

​

​	​	​	​	​	​	​
​	​	June 30, 2019
​		Gross			​	​
​	​	Carrying		​	Accumulated
​	​	Amount		​	Amortization
Amortizable intangible assets:	​		​	​		​
Customer relationships		$	69,300		$	(14,448)
Curriculum/software		​	16,600		​	(5,193)
Course delivery technology		​	7,200		​	(487)
Total	​	$	93,100	​	$	(20,128)
Indefinite-lived intangible assets:	​			​
Trade names	​	$	95,777	​
Chamberlain Title IV eligibility and accreditations	​		1,200	​
AUC Title IV eligibility and accreditations	​		100,000	​
Ross Title IV eligibility and accreditations	​		14,100	​
Intellectual property	​		13,940	​
Total	​	$	225,017	​

Summary of Indefinite-Lived Intangible Assets Balances by Reporting Segment

​

​	​	​	​	​	​	​
​	​	June 30,
Reportable Segment		2020			2019
Medical and Healthcare	​	$	137,500	​	$	137,500
Financial Services	​		87,404	​		87,517
Total	​	$	224,904	​	$	225,017

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):

​

​	​	​	​	​
​		Financial
Fiscal Year	​	Services		​
2021	​	$	10,073	​
2022	​		9,943	​
2023	​		9,792	​
2024	​		9,509	​
2025	​		7,933	​
Thereafter	​		15,360	​
Total	​	$	62,610	​

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