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Goodwill and Intangible Assets (Tables)

12 Months Ended

Jun. 30, 2021

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	​	2021		​	2020
Chamberlain	​	$	4,716	​	$	4,716
AUC	​		68,321	​		68,321
RUSM and RUSVM	​		237,173	​		237,173
Financial Services	​		376,164	​		376,004
Total	​	$	686,374	​	$	686,214

​

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

​

​	​	​	​	​	​	​
​	​	June 30,
Reportable Segment	​	2021		​	2020
Medical and Healthcare	​	$	310,210	​	$	310,210
Financial Services	​		376,164	​		376,004
Total	​	$	686,374	​	$	686,214

​

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

​

​	​	​	​	​	​	​	​	​	​
​	​	Medical and		​	Financial		​	​	​
​	​	Healthcare		​	Services		​	Total
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
Foreign exchange rate changes		​	—		​	160		​	160
June 30, 2021	​	$	310,210	​	$	376,164	​	$	686,374

Schedule of Intangible Assets

Intangible assets consisted of the following (in thousands):

​

​	​	​	​	​	​	​	​	​
​	​	June 30, 2021					​	​
​	​	Gross Carrying		​	Accumulated		​	Weighted-Average
​	​	Amount		​	Amortization		​	Amortization Period
Amortizable intangible assets:	​	​	​	​	​	​		​
Customer relationships	​	$	68,900	​	$	(27,844)		10 Years
Curriculum/software	​		11,600	​		(4,028)		6 Years
Course delivery technology	​		6,700	​		(2,791)		5 Years
Total	​	$	87,200	​	$	(34,663)		​
Indefinite-lived intangible assets:	​		​	​		​		​
Trade names	​	$	94,472	​		​		​
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	​	$	223,712	​		​		​

​

​	​	​	​	​	​	​
​	​	June 30, 2020
​	​	Gross Carrying		​	Accumulated
​	​	Amount		​	Amortization
Amortizable intangible assets:	​	​	​	​	​	​
Customer relationships	​	$	68,900	​	$	(21,044)
Curriculum/software	​	​	11,600	​	​	(2,094)
Course delivery technology	​	​	7,200	​	​	(1,952)
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	​		​

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):

​

​	​	​	​	​	​	​
​	​	June 30,
Reportable Segment	​	2021		​	2020
Medical and Healthcare	​	$	137,500	​	$	137,500
Financial Services	​		86,212	​		87,404
Total	​	$	223,712	​	$	224,904

Estimated Amortization Expense for Amortized Intangible Assets

Estimated intangible asset amortization expense is as follows (in thousands):

​

​	​	​	​	​
​	​	Financial		​
Fiscal Year	​	Services		​
2022	​	$	9,943	​
2023	​		9,792	​
2024	​		9,509	​
2025	​		7,933	​
2026	​		5,960	​
Thereafter	​		9,400	​
Total	​	$	52,537	​

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

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-Name Accounting Standards Codification
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Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance and exist in perpetuity, by either major class or business segment.

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Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets.

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