| 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 |
|