Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets (Tables)

v3.21.2
Intangible Assets (Tables)
9 Months Ended
Oct. 31, 2021
Intangible Assets  
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