Goodwill and Intangible Assets

12 Months Ended

Apr. 30, 2017

Goodwill and Intangible Assets [Abstract]

Note 10 - Goodwill and Intangible Assets

The following table summarizes the activity in goodwill by segment as of April 30 (in thousands):

	2016	Acquisitions	Foreign Translation Adjustment	2017
Research	$406,395	69,867	$(38,334)	$437,928
Publishing	284,217	-	(1,025)	283,192
Solutions	261,051	3,405	(3,475)	260,981
Total	$951,663	$73,272	$(42,834)	$982,101

Intangible assets as of April 30 were as follows (in thousands):

	2017		2016
	Cost	Accumulated Amortization	Cost	Accumulated Amortization
Intangible Assets with Determinable Lives
Content and Publishing Rights	$775,520	$(353,923)	$790,055	$(333,174)
Customer Relationships	233,872	(64,756)	224,839	(54,677)
Brands & Trademarks	35,554	(18,359)	30,116	(15,713)
Covenants not to Compete	2,377	(1,420)	1,687	(1,011)
	1,047,323	(438,458)	1,046,697	(404,575)
Intangible Assets with Indefinite Lives
Brands & Trademarks	135,061	-	147,683	-
Content and Publishing Rights	84,173	-	87,202	-
	$1,266,557	$(438,458)	$1,281,582	$(404,575)

Based on the current amount of intangible assets subject to amortization and assuming current foreign exchange rates, the estimated amortization expense for each of the succeeding five fiscal years are as follows: 2018 – $47.2 million; 2019 - $45.6 million; 2020 - $41.1 million; 2021 - $38.4 million and 2022 - $33.9 million.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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