| Schedule of intangible assets |
Intangible assets consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
October 31, 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 |
|
$ |
309,709 |
|
$ |
27,216 |
|
$ |
282,493 |
|
$ |
265,758 |
|
$ |
24,669 |
|
$ |
241,089 |
Customer contracts/ relationships |
|
|
386,400 |
|
|
7,708 |
|
|
378,692 |
|
|
279,500 |
|
|
3,627 |
|
|
275,873 |
Vendor relationships |
|
|
43,900 |
|
|
12,879 |
|
|
31,021 |
|
|
— |
|
|
— |
|
|
— |
Trademarks and trade names |
|
|
9,700 |
|
|
582 |
|
|
9,118 |
|
|
6,300 |
|
|
455 |
|
|
5,845 |
Publishing rights |
|
|
41,100 |
|
|
3,174 |
|
|
37,926 |
|
|
35,200 |
|
|
2,933 |
|
|
32,267 |
Backlog |
|
|
60,900 |
|
|
4,201 |
|
|
56,699 |
|
|
90,200 |
|
|
8,141 |
|
|
82,059 |
Skillsoft trademark |
|
|
84,700 |
|
|
— |
|
|
84,700 |
|
|
91,500 |
|
|
— |
|
|
91,500 |
Global Knowledge trademark |
|
|
25,400 |
|
|
1,252 |
|
|
24,148 |
|
|
— |
|
|
— |
|
|
— |
Total |
|
$ |
961,809 |
|
$ |
57,012 |
|
$ |
904,797 |
|
$ |
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 3 months) |
|
$ |
37,030 |
2023 |
|
|
168,953 |
2024 |
|
|
148,443 |
2025 |
|
|
124,196 |
2026 |
|
|
118,674 |
Thereafter |
|
|
222,801 |
Total |
|
$ |
820,097 |
|
| Schedule of goodwill |
A roll forward of goodwill is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
Description |
|
Skillsoft |
|
SumTotal |
|
GK |
|
Consolidated |
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 |
|
|
(13) |
|
|
(46) |
|
|
3 |
|
|
(56) |
Acquisition of Pluma |
|
|
14,892 |
|
|
— |
|
|
— |
|
|
14,892 |
Goodwill, net July 31 2021 (Successor) |
|
$ |
674,546 |
|
$ |
75,019 |
|
$ |
116,416 |
|
$ |
865,981 |
Foreign currency translation adjustment |
|
|
(38) |
|
|
(23) |
|
|
(564) |
|
|
(625) |
Measurement period adjustments |
|
|
4,992 |
|
|
700 |
|
|
491 |
|
|
6,183 |
Measurement period adjustments - (Pluma) |
|
|
752 |
|
|
— |
|
|
— |
|
|
752 |
Goodwill, net October 31, 2021(Successor) |
|
$ |
680,252 |
|
$ |
75,696 |
|
$ |
116,343 |
|
$ |
872,291 |
|