Goodwill and Intangible Assets

3 Months Ended

Jul. 31, 2022

Goodwill and Intangible Assets [Abstract]

Note 12 — Goodwill and Intangible Assets

Goodwill

The following table summarizes the activity in goodwill by segment as of July 31, 2022:

	April 30, 2022		Foreign Translation Adjustment			July 31, 2022
Research ⁽¹⁾	$	610,416	$	(9,530	)	$	600,886
Academic & Professional Learning		498,136		(3,108	)		495,028
Education Services ⁽²⁾		193,590		(262	)		193,328
Total	$	1,302,142	$	(12,900	)	$	1,289,242

⁽¹⁾	The Research segment was previously referred to as Research Publishing & Platforms.

⁽²⁾	The Education Services goodwill balance as of April 30, 2022 includes a cumulative pretax noncash goodwill impairment of $110.0 million.

Intangible Assets

Intangible assets, net were as follows:

	July 31, 2022		April 30, 2022 ⁽¹⁾
Intangible assets with definite lives, net:
Content and publishing rights	$	483,180	$	499,937
Customer relationships		234,684		242,058
Developed technology		51,380		54,721
Brands and trademarks ⁽²⁾		10,390		16,021
Covenants not to compete		370		393
Total intangible assets with definite lives, net		780,004		813,130
Intangible assets with indefinite lives:
Brands and trademarks		37,000		37,000
Publishing rights		78,804		81,299
Total intangible assets with indefinite lives		115,804		118,299
Total intangible assets, net	$	895,808	$	931,429

⁽¹⁾	The developed technology balance as of April 30, 2022 is presented net of accumulated impairments and write-offs of $2.8 million. The indefinite-lived brands and trademarks as of April 30, 2022 is net of accumulated impairments of $93.1 million.

⁽²⁾

On January 1, 2020, Wiley acquired mthree, a talent placement provider that addresses the IT skills gap by finding, training, and placing job-ready technology talent in roles with leading corporations worldwide. Its results of operations are included in our Education Services segment. In late May 2022, Wiley renamed the mthree talent development solution to Wiley Edge and discontinued use of the mthree trademark during the three months ended July 31, 2022. As a result of these actions, we determined that a revision of the useful life was warranted and the intangible asset was fully amortized over its remaining useful life resulting in accelerated amortization expense of $4.6 million in the three months ended July 31, 2022.