| Schedule of intangible assets |
Intangible assets consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
January 31, 2022 (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 |
|
$ |
315,856 |
|
$ |
47,323 |
|
$ |
268,533 |
|
$ |
265,758 |
|
$ |
24,669 |
|
$ |
241,089 |
Customer contracts/ relationships |
|
|
386,400 |
|
|
12,902 |
|
|
373,498 |
|
|
279,500 |
|
|
3,627 |
|
|
275,873 |
Vendor relationships |
|
|
43,900 |
|
|
21,219 |
|
|
22,681 |
|
|
— |
|
|
— |
|
|
— |
Trademarks and trade names |
|
|
7,300 |
|
|
780 |
|
|
6,520 |
|
|
6,300 |
|
|
455 |
|
|
5,845 |
Publishing rights |
|
|
41,100 |
|
|
5,229 |
|
|
35,871 |
|
|
35,200 |
|
|
2,933 |
|
|
32,267 |
Backlog |
|
|
60,900 |
|
|
6,554 |
|
|
54,346 |
|
|
90,200 |
|
|
8,141 |
|
|
82,059 |
Skillsoft trademark |
|
|
84,700 |
|
|
— |
|
|
84,700 |
|
|
91,500 |
|
|
— |
|
|
91,500 |
Global Knowledge trademark |
|
|
25,400 |
|
|
2,062 |
|
|
23,338 |
|
|
— |
|
|
— |
|
|
— |
Total |
|
$ |
965,556 |
|
$ |
96,069 |
|
$ |
869,487 |
|
$ |
768,458 |
|
$ |
39,825 |
|
$ |
728,633 |
|
| Schedule of goodwill |
A roll forward of goodwill is as follows:
|
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|
|
|
|
|
|
|
|
|
|
Description |
|
Skillsoft |
|
SumTotal |
|
GK |
|
Consolidated |
Goodwill, net January 31, 2019 (Predecessor (PL)) |
|
$ |
1,434,047 |
|
$ |
260,266 |
|
$ |
— |
|
$ |
1,694,313 |
Foreign currency translation adjustment |
|
|
113 |
|
|
(6) |
|
|
— |
|
|
107 |
Impairment of goodwill |
|
|
(321,340) |
|
|
(119,258) |
|
|
— |
|
|
(440,598) |
Goodwill, net January 31, 2020 (Predecessor (PL)) |
|
$ |
1,112,820 |
|
$ |
141,002 |
|
$ |
— |
|
$ |
1,253,822 |
Foreign currency translation adjustment |
|
|
(158) |
|
|
(4) |
|
|
— |
|
|
(162) |
Impairment of goodwill |
|
|
(107,934) |
|
|
(69,952) |
|
|
— |
|
|
(177,886) |
Canada deconsolidation |
|
|
(5,100) |
|
|
— |
|
|
— |
|
|
(5,100) |
Goodwill, net August 27, 2020 (Predecessor (PL)) |
|
$ |
999,628 |
|
$ |
71,046 |
|
$ |
— |
|
$ |
1,070,674 |
Impact of Fresh-Start reporting |
|
|
(507,843) |
|
|
(67,696) |
|
|
— |
|
|
(575,539) |
Goodwill, net August 28, 2020 (Predecessor (SLH)) |
|
|
491,785 |
|
|
3,350 |
|
|
— |
|
|
495,135 |
Foreign currency translation adjustment |
|
|
(131) |
|
|
— |
|
|
— |
|
|
(131) |
Goodwill, net January 31, 2021 (Predecessor SLH) |
|
$ |
491,654 |
|
$ |
3,350 |
|
$ |
— |
|
$ |
495,004 |
Foreign currency translation adjustment |
|
|
(135) |
|
|
— |
|
|
— |
|
|
(135) |
Goodwill, net June 11, 2021 (Predecessor SLH) |
|
|
491,519 |
|
|
3,350 |
|
|
— |
|
$ |
494,869 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Acquisition of Skillsoft and GK |
|
|
659,667 |
|
|
75,065 |
|
|
116,413 |
|
|
851,145 |
Foreign currency translation adjustment |
|
|
(47) |
|
|
(110) |
|
|
(623) |
|
|
(780) |
Acquisition of Pluma |
|
|
14,892 |
|
|
— |
|
|
— |
|
|
14,892 |
Measurement period adjustments |
|
|
3,036 |
|
|
738 |
|
|
(479) |
|
|
3,295 |
Measurement period adjustments - (Pluma) |
|
|
2,952 |
|
|
— |
|
|
— |
|
|
2,952 |
Goodwill, net January 31, 2022(Successor) |
|
$ |
680,500 |
|
$ |
75,693 |
|
$ |
115,311 |
|
$ |
871,504 |
|