Goodwill and Intangible Assets

6 Months Ended

Oct. 31, 2017

Goodwill and Intangible Assets [Abstract]

10.

Goodwill and Intangible Assets

The following table summarizes the activity in goodwill by segment as of October 31 (in thousands):

			Foreign
			Translation
	April 30,2017		Adjustment		October 31,2017
Research	$	437,928	$	9,569	$	447,497
Publishing		283,192		7,876		291,068
Solutions		260,981		-		260,981
Total	$	982,101	$	17,445	$	999,546

							Foreign
							Translation
	April 30,2016			Acquisitions			Adjustment				October 31,2016
Research		$	406,395		$	74,119		$	(51,110	)		$	429,404
Publishing			284,217			-			(4,709	)			279,508
Solutions			261,051			4,105			-				265,156
Total		$	951,663		$	78,224		$	(55,819	)		$	974,068

Intangible assets consisted of the following (in thousands):

	October 31,				April 30,
	2017		2016		2017
Intangible assets with indefinite lives:
Brands and trademarks	$	133,180	$	130,632	$	135,061
Content and publishing rights		90,815		84,274		84,173
	$	223,995	$	214,906	$	219,234

Net intangible assets with determinable lives:
Content and publishing rights	$	420,508	$	406,467	$	421,597
Customer relationships		166,006		182,584		169,116
Brands and trademarks		17,246		17,522		17,195
Covenants not to compete		769		1,483		957
	$	604,529	$	608,056	$	608,865
Total	$	828,524	$	822,962	$	828,099

In conjunction with a business review performed in the Publishing segment associated with the restructuring activities discussed above, in the first quarter of fiscal year 2018, the Company identified an indefinite lived brand with forecasted cash flows that did not support its carrying value. As a result, an impairment charge of $3.6 million was recorded in the first quarter of fiscal year 2018 to reduce the carrying value of the brand to its fair value of $1.2 million, which will now be amortized over an estimated useful life of 5 years. This impairment charge is included in Operating and Administrative Expenses in the Condensed Consolidated Statements of Income.

- 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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