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Goodwill and Intangible Assets | 9 Months Ended
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Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets Goodwill The following table presents changes in the carrying value of goodwill by segment for the nine months ended September 30, 2024 (in thousands):
| U.S. Higher Education |  | Australia / New Zealand |  | Education Technology Services |  | Total
Balance as of December 31, 2023 | $ | 632,075 |  |  | $ | 519,813 |  |  | $ | 100,000 |  |  | $ | 1,251,888 |
Additions | — |  |  | — |  |  | — |  |  | — |
Impairments | — |  |  | — |  |  | — |  |  | — |
Currency translation adjustments | — |  |  | 8,711 |  |  | — |  |  | 8,711 |
Balance as of September 30, 2024 | $ | 632,075 |  |  | $ | 528,524 |  |  | $ | 100,000 |  |  | $ | 1,260,599 |
The following table presents changes in the carrying value of goodwill by segment for the nine months ended September 30, 2025 (in thousands):
| U.S. Higher Education |  | Australia / New Zealand |  | Education Technology Services |  | Total
Balance as of December 31, 2024 | $ | 632,075 |  |  | $ | 474,808 |  |  | $ | 100,000 |  |  | $ | 1,206,883 |
Additions | — |  |  | — |  |  | — |  |  | — |
Impairments | — |  |  | — |  |  | — |  |  | — |
Currency translation adjustments | — |  |  | 30,182 |  |  | — |  |  | 30,182 |
Balance as of September 30, 2025 | $ | 632,075 |  |  | $ | 504,990 |  |  | $ | 100,000 |  |  | $ | 1,237,065 |
The Company assesses goodwill at least annually for impairment during the fourth quarter, or more frequently if events occur or circumstances change between annual tests that would more likely than not reduce the fair value of the respective reporting unit below its carrying amount. No events or circumstances occurred in the three and nine months ended September 30, 2025 to indicate an impairment to goodwill at any of the Company’s segments. There were no impairment charges related to goodwill recorded during the three and nine months ended September 30, 2024 and 2025. Intangible Assets Indefinite-lived intangible assets not subject to amortization consist of trade names. The Company assigned an indefinite useful life to its trade name intangible assets, as it is believed these assets have the ability to generate cash flows indefinitely. In addition, there are no legal, regulatory, contractual, economic, or other factors to limit the useful life of the trade name intangibles. The following table presents changes in the carrying value of indefinite-lived intangible assets (in thousands):
| For the nine months ended September 30,
| 2024 |  | 2025
Balance at beginning of period | $ | 251,623 |  |  | $ | 245,098 |
Impairments | (800) |  |  | — |
Currency translation adjustments | 1,129 |  |  | 3,827 |
Balance at end of period | $ | 251,952 |  |  | $ | 248,925 |
The Company assesses indefinite-lived intangible assets at least annually for impairment during the fourth quarter, or more frequently if events occur or circumstances change between annual tests that would more likely than not reduce the fair value of the respective indefinite-lived intangible asset below its carrying amount. In the second quarter of 2024, the Company recorded a $0.8 million indefinite-lived intangible asset impairment charge, which is included in Restructuring costs on the unaudited condensed consolidated statements of income. No events or circumstances occurred in the three and nine months ended September 30, 2025 to indicate an impairment to indefinite-lived intangible assets. There were no impairment charges related to indefinite-lived intangible assets recorded during the three and nine months ended September 30, 2025.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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