XML 70 R21.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Goodwill and Intangible Assets
 3 Months Ended
Jul. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
Goodwill
The following table summarizes the activity in goodwill by segment as of July 31, 2024:
April 30, 2024 (1)
Foreign Translation Adjustment
July 31, 2024
Research$607,289 $10,539 $617,828 
Learning484,079 (2,090)481,989 
Total excluding Held for Sale or Sold segment1,091,368 8,449 1,099,817 
Held for Sale or Sold— — — 
Total including Held for Sale or Sold segment$1,091,368 $8,449 $1,099,817 
(1)
The Held for Sale or Sold goodwill balance as of April 30, 2024 includes accumulated pretax noncash goodwill impairment of $318.2 million which reduced the goodwill of all reporting units within the Held for Sale or Sold segment to zero.

Fiscal Year 2024

We recorded a goodwill impairment in the three months ended July 31, 2023 of $26.7 million. These charges are reflected in Impairment of goodwill on our Unaudited Condensed Consolidated Statements of Net Loss.

In the three months ended July 31, 2023, we reorganized our segments. Due to this realignment, we reallocated goodwill in the first quarter of fiscal year 2024 to our reporting units on a relative fair value basis.

As a result of this realignment, we were required to test goodwill for impairment immediately before and after the realignment. Since there were no changes to the Research reportable segment, no impairment test of the Research segment goodwill was required.

Prior to the realignment, the carrying value of the University Services reporting unit was above its fair value which resulted in a pretax noncash goodwill impairment of $11.4 million. Such impairment reduced the goodwill of the University Services reporting unit to zero. After the realignment, the carrying value of the CrossKnowledge reporting unit was above its fair value which resulted in a pretax noncash goodwill impairment of $15.3 million. Such impairment reduced the goodwill of the CrossKnowledge reporting unit to zero.
Intangible Assets
Intangible assets, net were as follows:
July 31, 2024April 30, 2024 ⁽¹⁾
Intangible assets with definite lives, net:
Content and publishing rights$427,360 $431,259 
Customer relationships37,737 39,709 
Developed technology18,111 19,522 
Brands and trademarks5,570 5,734 
Covenants not to compete27 34 
Total intangible assets with definite lives, net488,805 496,258 
Intangible assets with indefinite lives:  
Brands and trademarks37,000 37,000 
Publishing rights83,419 82,436 
Total intangible assets with indefinite lives120,419 119,436 
Total intangible assets, net$609,224 $615,694 
(1)
The developed technology balance as of April 30, 2024 is presented net of accumulated impairments and write-offs of $2.8 million. The indefinite-lived brands and trademarks balance as of April 30, 2024 is net of accumulated impairments of $93.1 million.