Annual report pursuant to Section 13 and 15(d)

Intangible Assets (Tables)

v3.22.1
Intangible Assets (Tables)
12 Months Ended
Jan. 31, 2022
Intangible Assets  
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 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

2023

$

168,125

2024

 

149,025

2025

125,158

2026

119,448

2027

 

70,764

Thereafter

 

152,267

Total

$

784,787

Schedule of goodwill

A roll forward of goodwill is as follows:

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