| Summary company's segment results and segment assets |
The following table presents summary results for each of the businesses for the period from June 12, 2021 to July 31, 2021 (Successor), the period from May 1, 2021 to July 31, 2021 (Predecessor), the period from February 1, 2021 to July 31, 2021 (Predecessor), and the three months and six months ended July 31, 2021 (Predecessor), (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Successor |
|
|
Predecessor (SLH) |
|
|
Predecessor (PL) |
|
|
From |
|
|
From |
|
From |
|
|
|
|
|
|
|
June 12, |
|
|
May 1, 2021 |
|
February 1, |
|
|
Three months |
|
Six months |
|
|
2021 to July |
|
|
to July 31, |
|
2021 to July |
|
|
ended July 31, |
|
ended July 31, |
|
|
31, 2021 |
|
|
2021 |
|
31, 2021 |
|
|
2020 |
|
2020 |
Skillsoft |
|
|
|
|
|
|
|
|
|
|
|
|
Revenues |
|
23,379 |
|
|
34,377 |
|
101,434 |
|
|
84,087 |
|
168,406 |
Operating expenses |
|
60,387 |
|
|
44,754 |
|
137,882 |
|
|
89,632 |
|
377,552 |
Operating (loss) income |
|
(37,008) |
|
|
(10,377) |
|
(36,448) |
|
|
(5,545) |
|
(209,146) |
SumTotal |
|
|
|
|
|
|
|
|
|
|
|
|
Revenues |
|
9,873 |
|
|
13,558 |
|
38,202 |
|
|
32,748 |
|
66,758 |
Operating expenses |
|
14,883 |
|
|
12,101 |
|
38,377 |
|
|
28,387 |
|
196,541 |
Operating income (loss) |
|
(5,010) |
|
|
1,457 |
|
(175) |
|
|
4,361 |
|
(129,783) |
Global Knowledge |
|
|
|
|
|
|
|
|
|
|
|
|
Revenues |
|
24,660 |
|
|
— |
|
— |
|
|
— |
|
— |
Operating expenses |
|
32,255 |
|
|
— |
|
— |
|
|
— |
|
— |
Operating loss |
|
(7,595) |
|
|
— |
|
— |
|
|
— |
|
— |
Consolidated |
|
|
|
|
|
|
|
|
|
|
|
|
Revenues |
|
57,912 |
|
|
47,935 |
|
139,636 |
|
|
116,835 |
|
235,164 |
Operating expenses |
|
107,525 |
|
|
56,855 |
|
176,259 |
|
|
118,019 |
|
574,093 |
Operating loss |
|
(49,613) |
|
|
(8,920) |
|
(36,623) |
|
|
(1,184) |
|
(338,929) |
Total non-operating income |
|
16,418 |
|
|
759 |
|
407 |
|
|
898 |
|
1,809 |
Interest expense, net |
|
(9,844) |
|
|
(5,317) |
|
(16,756) |
|
|
(61,011) |
|
(166,970) |
Reorganization items, net |
|
— |
|
|
— |
|
— |
|
|
(10,593) |
|
(10,593) |
Benefit from income taxes |
|
5,504 |
|
|
1,619 |
|
3,708 |
|
|
909 |
|
9,800 |
Net loss |
|
(37,535) |
|
|
(11,859) |
|
(49,264) |
|
|
(70,981) |
|
(504,883) |
|
| Schedule company's long-lived tangible assets by geographic region |
The Company’s segment assets primarily consist of cash and cash equivalents, accounts receivable, prepaid expenses, deferred taxes, property and equipment, goodwill and intangible assets. The following table sets forth the Company’s segment assets as of July 31, 2021 and January 31, 2021 (in thousands):
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|
|
|
|
|
|
|
|
|
Successor |
|
|
Predecessor (SLH) |
|
|
July 31, 2021 |
|
|
January 31, 2021 |
|
|
|
|
|
|
|
|
Skillsoft |
|
$ |
1,471,444 |
|
|
$ |
1,398,379 |
SumTotal |
|
|
196,071 |
|
|
|
147,358 |
Global Knowledge |
|
|
366,906 |
|
|
|
— |
Corporate |
|
|
— |
|
|
|
— |
Consolidated |
|
$ |
2,034,421 |
|
|
$ |
1,545,737 |
The following table sets forth the Company’s long-lived tangible assets by geographic region for the years ended July 31, 2021 and January 31, 2021 (in thousands):
|
|
|
|
|
|
|
|
|
|
Successor |
|
|
Predecessor (SLH) |
|
|
July 31, 2021 |
|
|
January 31, 2021 |
|
|
|
|
|
|
|
|
United States |
|
$ |
12,276 |
|
|
$ |
10,613 |
Ireland |
|
|
499 |
|
|
|
609 |
Rest of world |
|
|
2,280 |
|
|
|
2,558 |
Total |
|
$ |
15,055 |
|
|
$ |
13,780 |
|