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Goodwill and Intangible Assets (Tables)

3 Months Ended

Sep. 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):

​

​	​	​	​	​	​	​	​	​	​
​	​	September 30,		​	June 30,		​	September 30,
Reporting Unit	​	2021		​	2021		​	2020
Chamberlain	​	$	4,716	​	$	4,716	​	$	4,716
Walden	​	​	642,554	​	​	—	​	​	—
AUC	​		68,321	​		68,321	​		68,321
RUSM and RUSVM	​		237,173	​		237,173	​		237,173
Financial Services	​		376,164	​		376,164	​		376,270
Total	​	$	1,328,928	​	$	686,374	​	$	686,480

​

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

​

​	​	​	​	​	​	​	​	​	​
​	​	September 30,		​	June 30,		​	September 30,
Reportable Segment	​	2021		​	2021		​	2020
Chamberlain	​	$	4,716	​	$	4,716	​	$	4,716
Walden	​	​	642,554	​	​	—	​	​	—
Medical and Veterinary	​	​	305,494	​	​	305,494	​	​	305,494
Financial Services	​		376,164	​		376,164	​		376,270
Total	​	$	1,328,928	​	$	686,374	​	$	686,480

​

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

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Medical and

​

Financial

​

​

​

​

​

Chamberlain

​

Walden

​

Veterinary

​

Services

​

Total

June 30, 2020

​

$

4,716

​

$

—

​

$

305,494

​

$

376,004

​

$

686,214

Foreign exchange rate changes

​

—

​

—

​

—

​

266

​

266

September 30, 2020

​

​

4,716

​

​

—

​

​

305,494

​

​

376,270

​

​

686,480

Foreign exchange rate changes

​

​

—

​

​

—

​

​

—

​

​

(106)

​

​

(106)

June 30, 2021

​

​

4,716

​

​

—

​

​

305,494

​

​

376,164

​

​

686,374

Acquisition

​

—

​

642,554

​

—

​

—

​

642,554

September 30, 2021

​

$

4,716

​

$

642,554

​

$

305,494

​

$

376,164

​

$

1,328,928

Schedule of Intangible Assets

Intangible assets consisted of the following (in thousands):

​

​	​	​	​	​	​	​	​	​
​	​	September 30, 2021					​	​
​	​	Gross Carrying		​	Accumulated		​	Weighted-Average
​	​	Amount		​	Amortization		​	Amortization Period
Amortizable intangible assets:	​	​	​	​	​	​		​
Student relationships	​	$	161,900	​	$	(15,049)		3 Years
Customer relationships	​	​	68,900	​	​	(29,511)	​	10 Years
Curriculum/software	​		67,691	​		(5,913)		5 Years
Course delivery technology	​		6,700	​		(3,127)		5 Years
Total	​	$	305,191	​	$	(53,600)		​
Indefinite-lived intangible assets:	​		​	​		​		​
Walden trade name	​	$	119,560	​		​		​
AUC trade name	​	​	17,100	​	​	​	​	​
Ross trade name	​	​	5,100	​	​	​	​	​
Financial Services trade names	​	​	72,272	​	​	​	​	​
Chamberlain Title IV eligibility and accreditations	​		1,200	​		​		​
Walden Title IV eligibility and accreditations	​	​	495,800	​	​	​	​	​
AUC Title IV eligibility and accreditations	​		100,000	​		​		​
Ross Title IV eligibility and accreditations	​		14,100	​		​		​
Intellectual property	​		13,940	​		​		​
Total	​	$	839,072	​		​		​

​

​	​	​	​	​	​	​
​	​	June 30, 2021
​	​	Gross Carrying		​	Accumulated
​	​	Amount		​	Amortization
Amortizable intangible assets:	​	​	​	​	​	​
Customer relationships	​	$	68,900	​	$	(27,844)
Curriculum/software	​	​	11,600	​	​	(4,028)
Course delivery technology	​	​	6,700	​	​	(2,791)
Total	​	$	87,200	​	$	(34,663)
Indefinite-lived intangible assets:	​		​	​		​
AUC trade name	​	$	17,100	​		​
Ross trade name	​	​	5,100	​	​	​
Financial Services trade names	​	​	72,272	​	​	​
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	​		​

​

​	​	​	​	​	​	​
​	​	September 30, 2020
​	​	Gross Carrying		​	Accumulated
​	​	Amount		​	Amortization
Amortizable intangible assets:	​		​	​		​
Customer relationships	​	$	68,900	​	$	(22,744)
Curriculum/software	​	​	11,600	​	​	(2,578)
Course delivery technology	​	​	6,700	​	​	(1,786)
Total	​	$	87,200	​	$	(27,108)
Indefinite-lived intangible assets:	​	​	​	​	​	​
AUC trade name	​	$	17,100	​	​	​
Ross trade name	​	​	5,100	​	​	​
Financial Services trade names	​	​	73,495	​	​	​
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	​	$	224,935	​	​	​

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):

​

​	​	​	​	​	​	​	​	​	​
​	​	September 30,		​	June 30,		​	September 30,
Reportable Segment	​	2021		​	2021		​	2020
Chamberlain	​	$	1,200	​	$	1,200	​	$	1,200
Walden	​	​	615,360	​	​	—	​	​	—
Medical and Veterinary	​	​	136,300	​	​	136,300	​	​	136,300
Financial Services	​		86,212	​		86,212	​		87,435
Total	​	$	839,072	​	$	223,712	​	$	224,935

Estimated Amortization Expense for Amortized Intangible Assets

Estimated intangible asset amortization expense, by reporting unit, is as follows (in thousands):

​

​	​	​	​	​	​	​	​	​	​	​
​	​	​		​	Financial		​	​		​
Fiscal Year	​	Walden		​	Services		​	Total		​
2022 (remaining)	​	$	80,823	​	$	7,458	​	$	88,281	​
2023	​		61,239	​		9,792	​		71,031	​
2024	​		35,644	​		9,509	​		45,153	​
2025	​		11,220	​		7,933	​		19,153	​
2026	​		11,220	​		5,959	​		17,179	​
Thereafter	​		1,394	​		9,400	​		10,794	​
Total	​	$	201,540	​	$	50,051	​	$	251,591	​

X

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Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination.

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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
-Topic 350
-SubTopic 20
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