Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets (Tables)

v3.21.2
Intangible Assets (Tables)
6 Months Ended
Jul. 31, 2021
Intangible Assets  
Schedule of intangible assets

Intangible assets consisted of the following (in thousands):

July31, 2021 (Successor)

January 31, 2021 (Predecessor (SLH))

    

Gross

    

    

Net

    

Gross

    

    

Net

Carrying

Accumulated

Carrying

Carrying

Accumulated

Carrying

Amount

Amortization

Amount

Amount

Amortization

Amount

Developed software/ courseware

$

310,754

$

9,622

$

301,132

$

265,758

$

24,669

$

241,089

Customer contracts/ relationships

 

381,100

 

2,279

 

378,821

 

279,500

 

3,627

 

275,873

Vendor relationships

 

43,900

 

4,540

 

39,360

Trademarks and trade names

 

7,800

 

186

 

7,614

 

6,300

 

455

 

5,845

Publishing rights

 

41,100

 

1,119

 

39,981

 

35,200

 

2,933

 

32,267

Backlog

 

72,000

 

2,277

 

69,723

 

90,200

 

8,141

 

82,059

Skillsoft trademark

 

84,700

 

84,700

 

91,500

 

91,500

Global Knowledge trademark

 

25,400

 

25,400

Total

$

966,754

$

20,023

$

946,731

$

768,458

$

39,825

$

728,633

Schedule of amortization expense related to the existing finite-lived intangible assets

Amortization expense related to the existing finite-lived intangible assets is expected to be as follows (in thousands):

Fiscal Year

    

Amortization Expense

2022 (Remaining 6 months)

$

73,976

2023

 

168,581

2024

147,458

2025

122,639

2026

 

116,716

Thereafter

 

207,261

Total

$

836,631

Schedule of goodwill

A roll forward of goodwill is as follows:

Description

    

Skillsoft

    

SumTotal

    

GK

    

Consolidated

Goodwill, net January 31, 2021 (Predecessor)

$

491,654

$

3,350

$

$

495,004

Foreign currency translation adjustment

 

(135)

 

(135)

Goodwill, net June 11,2021 (Predecessor)

 

491,519

 

3,350

 

$

494,869

Acquisition of Skillsoft and GK

584,922

52,745

108,008

745,675

Foreign currency translation adjustment

 

(13)

 

(47)

3

 

(57)

Acquisition of Pluma

 

15,559

 

15,559

Goodwill, net July 31, 2021(Successor)

$

600,468

$

52,698

$

108,011

$

761,177