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Goodwill and Intangible Assets (Tables) | 9 Months Ended
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Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
Changes in Carrying Amount of Goodwill | The table below summarizes goodwill balances by reporting unit (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | March 31, |  | June 30, |  | March 31,
Reporting Unit | ​ | 2020 | ​ | 2019 | ​ | 2019
Chamberlain | ​ | $ | 4,716 | ​ | $ | 4,716 | ​ | $ | 4,716
AUC | ​ |  | 68,321 | ​ |  | 68,321 | ​ |  | 68,321
RUSM and RUSVM | ​ |  | 237,173 | ​ |  | 237,173 | ​ |  | 237,173
Financial Services | ​ |  | 376,025 | ​ |  | 377,046 | ​ |  | 317,475
Total | ​ | $ | 686,235 | ​ | $ | 687,256 | ​ | $ | 627,685
The table below summarizes goodwill balances by reportable segment (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | March 31, |  | June 30, |  | March 31,
Reportable Segment | ​ | 2020 | ​ | 2019 | ​ | 2019
Medical and Healthcare | ​ | $ | 310,210 | ​ | $ | 310,210 | ​ | $ | 310,210
Financial Services | ​ |  | 376,025 | ​ |  | 377,046 | ​ |  | 317,475
Total | ​ | $ | 686,235 | ​ | $ | 687,256 | ​ | $ | 627,685
The table below summarizes the changes in goodwill balances by reportable segment (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Medical and |  | Financial |  | ​ | ​
​ | ​ | Healthcare | ​ | Services | ​ | Total
June 30, 2018 | ​ | $ | 310,210 | ​ | $ | 317,699 | ​ | $ | 627,909
Foreign exchange rate changes |  | ​ | — |  | ​ | (224) |  | ​ | (224)
March 31, 2019 | ​ | ​ | 310,210 | ​ | ​ | 317,475 | ​ | ​ | 627,685
Acquisitions | ​ | ​ | — | ​ | ​ | 59,519 | ​ | ​ | 59,519
Foreign exchange rate changes |  | ​ | — |  | ​ | 52 |  | ​ | 52
June 30, 2019 | ​ | ​ | 310,210 | ​ | ​ | 377,046 | ​ | ​ | 687,256
Purchase accounting adjustments |  | ​ | — |  | ​ | (92) |  | ​ | (92)
Foreign exchange rate changes |  | ​ | — |  | ​ | (929) |  | ​ | (929)
March 31, 2020 | ​ | $ | 310,210 | ​ | $ | 376,025 | ​ | $ | 686,235
Schedule of Intangible Assets | Intangible assets consist of the following (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, 2020 | ​ | ​
​ |  | Gross |  | ​ | ​ |  | Weighted-Average
​ | ​ | Carrying | ​ | Accumulated | ​ | Amortization
​ | ​ | Amount | ​ | Amortization | ​ | Period
Amortizable intangible assets: |  | ​ |  |  | ​ |  |  |
Customer relationships | ​ | $ | 68,900 | ​ | $ | (19,318) |  | 10 Years
Curriculum/software | ​ |  | 11,600 | ​ |  | (1,611) |  | 6 Years
Course delivery technology | ​ |  | 7,200 | ​ |  | (1,585) |  | 5 Years
Total | ​ | $ | 87,700 | ​ | $ | (22,514) |  |
Indefinite-lived intangible assets: | ​ |  |  | ​ |  |  |  |
Trade names | ​ | $ | 95,666 | ​ |  |  |  |
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 | ​ | $ | 224,906 | ​ |  |  |  |
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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 | ​ |  |
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, 2019
​ |  | Gross | ​ | ​ | ​
​ |  | Carrying |  | Accumulated
​ |  | Amount |  | Amortization
Amortizable intangible assets: | ​ |  |  | ​ |  |
Customer relationships | ​ | $ | 42,900 | ​ | $ | (13,071)
Curriculum/software | ​ | ​ | 5,000 | ​ | ​ | (4,583)
Course delivery technology | ​ | ​ | 500 | ​ | ​ | (344)
Total |  | $ | 48,400 |  | $ | (17,998)
Indefinite-lived intangible assets: | ​ | ​ | ​ | ​ | ​ | ​
Trade names |  | $ | 77,371 | ​ | ​ | ​
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 |  | $ | 206,611 | ​ | ​ | ​
Summary of Indefinite-Lived Intangible Assets Balances by Reporting Segment | The table below summarizes the indefinite-lived intangible asset balances by reportable segment (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | March 31, |  | June 30, |  | March 31,
Reportable Segment | ​ | 2020 | ​ | 2019 | ​ | 2019
Medical and Healthcare | ​ | $ | 137,500 | ​ | $ | 137,500 | ​ | $ | 137,500
Financial Services | ​ |  | 87,406 | ​ |  | 87,517 | ​ |  | 69,111
Total | ​ | $ | 224,906 | ​ | $ | 225,017 | ​ | $ | 206,611
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 | ​
2020 (remaining) | ​ | $ | 2,576 | ​
2021 | ​ |  | 10,073 | ​
2022 | ​ |  | 9,944 | ​
2023 | ​ |  | 9,792 | ​
2024 | ​ |  | 9,509 | ​
Thereafter | ​ |  | 23,292 | ​
Total | ​ | $ | 65,186 | ​

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