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Goodwill and Intangible Assets | 12 Months Ended
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Apr. 30, 2021
Goodwill And Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | 14. Goodwill and Intangible Assets Changes in the carrying value of goodwill by reportable segment were as follows:
|  |  |  |  |  |  |  |  |  | Executive Search |  |  |  |  |  |  |  |  |
|  | Consulting |  |  | Digital |  |  | North America |  |  | EMEA |  |  | Asia Pacific |  |  | RPO & Professional Search |  |  | Consolidated |
|  | (in thousands) |
Balance as of May 1, 2019 |  | $ | 173,147 |  |  | $ | 284,214 |  |  | $ | 46,571 |  |  | $ | 45,480 |  |  | $ | 972 |  |  | $ | 27,914 |  |  | $ | 578,298 |
Additions |  |  | — |  |  |  | 38,926 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 38,926 |
Exchange rate fluctuations |  |  | (133 | ) |  |  | (413 | ) |  |  | (850 | ) |  |  | (986 | ) |  |  | — |  |  |  | (899 | ) |  |  | (3,281 | )
Balance as of April 30, 2020 |  |  | 173,014 |  |  |  | 322,727 |  |  |  | 45,721 |  |  |  | 44,494 |  |  |  | 972 |  |  |  | 27,015 |  |  |  | 613,943 |
Adjustments |  |  | — |  |  |  | 2,643 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,643 |
Exchange rate fluctuations |  |  | 396 |  |  |  | 1,258 |  |  |  | 2,777 |  |  |  | 2,955 |  |  |  | — |  |  |  | 2,697 |  |  |  | 10,083 |
Balance as of April 30, 2021 |  | $ | 173,410 |  |  | $ | 326,628 |  |  | $ | 48,498 |  |  | $ | 47,449 |  |  | $ | 972 |  |  | $ | 29,712 |  |  | $ | 626,669 |
Tax deductible goodwill from the Miller Heiman acquisition was $24.5 million and $34.9 million as of April 30, 2021 and 2020, respectively. Tax deductible goodwill from the PIVOT Leadership acquisition was $6.6 million and $7.2 million as of April 30, 2021 and 2020, respectively. Intangible assets include the following:
|  | April 30, 2021 |  |  | April 30, 2020 |
|  | (in thousands) |
Amortized intangible assets: |  | Gross |  |  | Accumulated Amortization |  |  | Net |  |  | Gross |  |  | Accumulated Amortization |  |  | Net |
Customer lists |  | $ | 131,299 |  |  | $ | (76,489 | ) |  | $ | 54,810 |  |  | $ | 131,299 |  |  | $ | (64,762 | ) |  | $ | 66,537 |
Intellectual property |  |  | 69,100 |  |  |  | (33,623 | ) |  |  | 35,477 |  |  |  | 69,100 |  |  |  | (26,548 | ) |  |  | 42,552 |
Proprietary databases |  |  | 4,256 |  |  |  | (4,234 | ) |  |  | 22 |  |  |  | 4,256 |  |  |  | (4,202 | ) |  |  | 54 |
Non-compete agreements |  |  | 910 |  |  |  | (910 | ) |  |  | — |  |  |  | 910 |  |  |  | (910 | ) |  |  | — |
Trademarks |  |  | 7,186 |  |  |  | (4,636 | ) |  |  | 2,550 |  |  |  | 7,186 |  |  |  | (4,236 | ) |  |  | 2,950 |
Total |  | $ | 212,751 |  |  | $ | (119,892 | ) |  |  | 92,859 |  |  | $ | 212,751 |  |  | $ | (100,658 | ) |  |  | 112,093 |
Exchange rate fluctuations |  |  |  |  |  |  |  |  |  |  | 90 |  |  |  |  |  |  |  |  |  |  |  | (167 | )
Total Intangible assets |  |  |  |  |  |  |  |  |  | $ | 92,949 |  |  |  |  |  |  |  |  |  |  | $ | 111,926 |
Acquisition-related intangible assets acquired in fiscal 2020 consists of IP, customer relationships and tradenames of $36.0 million, $6.2 million, and $3.2 million, respectively, with weighted-average useful lives from the date of purchase of seven years, ten years, and nine years, respectively. During fiscal 2019, the Company decided to further integrate our go-to-market activities under one master brand —Korn Ferry, and discontinued the use of all sub-brands. Two of the Company’s sub-brands, Hay Group and Lominger, were acquired by Korn Ferry through acquisitions. As a result of the decision to discontinue their use, the Company took a non-cash intangible asset impairment charge of $106.6 million during fiscal 2019, recorded in general and administrative expenses on the accompanying statement of income, of which $77.0 million was recorded in the Consulting reportable segment and $29.6 million in the Digital reportable segment. Amortization expense for amortized intangible assets was $19.2 million, $16.3 million and $13.5 million during fiscal 2021, 2020 and 2019, respectively. Estimated annual amortization expense related to amortizing intangible assets is as follows:
Year Ending April 30, |  | Estimated Annual Amortization Expense |
|  | (in thousands) |
2022 |  | $ | 19,123 |
2023 |  |  | 17,271 |
2024 |  |  | 14,794 |
2025 |  |  | 14,679 |
2026 |  |  | 14,174 |
Thereafter |  |  | 12,908 |
|  | $ | 92,949 |
All amortizable intangible assets will be fully amortized by the end of fiscal 2032.

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