Intangible Assets (Tables) - SOFTWARE LUXEMBOURG HOLDING S.A. (SUCCESSOR) AND POINTWELL LIMITED (PREDECESSOR)
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3 Months Ended |
5 Months Ended |
Apr. 30, 2021 |
Jan. 31, 2021 |
| Schedule of intangible assets |
Intangible assets consisted of the following (in thousands):
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April 30, 2021
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January 31, 2021
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Gross
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Net
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Gross
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Net
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Carrying
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Accumulated
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Carrying
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Carrying
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Accumulated
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Carrying
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Amount
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Amortization
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Amount
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Amount
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Amortization
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Amount
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Developed software/ courseware
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$
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267,014
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$
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39,459
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$
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227,555
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$
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265,758
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$
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24,669
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$
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241,089
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Customer contracts/ relationships
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279,500
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9,114
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270,386
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279,500
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3,627
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275,873
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Trademarks and trade names
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6,300
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676
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5,624
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6,300
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455
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5,845
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Publishing rights
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35,200
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4,693
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30,507
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35,200
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2,933
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32,267
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Backlog
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90,200
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20,842
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69,358
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90,200
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8,141
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82,059
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Skillsoft trademark
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91,500
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—
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91,500
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91,500
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—
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91,500
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Total
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$
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769,714
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$
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74,784
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$
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694,930
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$
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768,458
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$
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39,825
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$
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728,633
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Intangible assets consisted of the following (in thousands):
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Successor
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Predecessor
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January 31, 2021
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January 31, 2020
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Gross
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Net
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Gross
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Net
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Carrying
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Accumulated
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Carrying
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Carrying
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Accumulated
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Carrying
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Amount
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Amortization
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Amount
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Amount
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Amortization
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Amount
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Developed software/ courseware
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$
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265,758
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$
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24,669
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$
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241,089
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$
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157,168
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$
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129,663
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$
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27,505
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Customer contracts/ relationships
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279,500
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3,627
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275,873
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670,800
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466,972
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203,828
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Trademarks and trade names
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6,300
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455
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5,845
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45,300
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27,648
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17,652
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Publishing rights
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35,200
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2,933
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32,267
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—
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—
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—
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Backlog
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90,200
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8,141
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82,059
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—
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—
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—
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Skillsoft trademark
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91,500
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—
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91,500
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186,000
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—
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186,000
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Total
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$
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768,458
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$
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39,825
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$
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728,633
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$
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1,059,268
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$
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624,283
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$
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434,985
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| 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):
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Fiscal Year
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Amortization Expense
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2022 (Remaining 9 months)
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$
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104,693
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2023
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120,579
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2024
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106,172
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2025
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94,070
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2026
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64,496
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Thereafter
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113,420
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Total
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$
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603,430
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Amortization expense related to the existing finite-lived intangible assets is expected to be as follows (in thousands):
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Amortization
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Fiscal Year
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Expense
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2022
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$
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139,408
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2023
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120,339
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2024
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105,910
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2025
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93,842
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2026
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64,269
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Thereafter
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113,365
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Total
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$
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637,133
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| Schedule of goodwill |
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Description
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Skillsoft
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SumTotal
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Consolidated
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Goodwill, net January 31, 2021 (Predecessor)
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$
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491,654
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$
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3,350
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$
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495,004
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Foreign currency translation adjustment
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(62)
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—
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(62)
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Goodwill, net April 30, 2021 (Predecessor)
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$
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491,592
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$
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3,350
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$
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494,942
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Description
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Skillsoft
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SumTotal
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Consolidated
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Goodwill, January 31, 2018
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$
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—
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$
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—
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$
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1,693,906
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Re-allocation of goodwill upon change in reporting units
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1,433,662
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260,244
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—
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Foreign currency translation adjustment
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385
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22
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407
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Goodwill, January 31, 2019
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1,434,047
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260,266
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1,694,313
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Foreign currency translation adjustment
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113
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(6)
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107
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Impairment of goodwill
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(321,340)
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(119,258)
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(440,598)
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Goodwill, net January 31, 2020 (Predecessor)
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1,112,820
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141,002
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1,253,822
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Foreign currency translation adjustment
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(158)
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(4)
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(162)
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Impairment of goodwill
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(107,934)
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(69,952)
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(177,886)
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Canada deconsolidation
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(5,100)
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(5,100)
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Goodwill, net August 27, 2020 (Predecessor)
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$
|
999,628
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$
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71,046
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$
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1,070,674
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Impact of Fresh-Start Reporting
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(507,843)
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(67,696)
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(575,539)
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Goodwill, net August 28, 2020 (Successor)
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$
|
491,785
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$
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3,350
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$
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495,135
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Foreign currency translation adjustment
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(131)
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(131)
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Goodwill, net January 31, 2021 (Successor)
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$
|
491,654
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$
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3,350
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$
|
495,004
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