| Schedule of intangible assets |
Intangible assets consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
April 30, 2022 (Successor) |
|
January 31, 2022 (Predecessor (SLH)) |
|
|
Gross |
|
|
|
|
Net |
|
Gross |
|
|
|
|
Net |
|
|
Carrying |
|
Accumulated |
|
Carrying |
|
Carrying |
|
Accumulated |
|
Carrying |
|
|
Amount |
|
Amortization |
|
Amount |
|
Amount |
|
Amortization |
|
Amount |
Developed software/ courseware |
|
$ |
376,066 |
|
$ |
66,005 |
|
$ |
310,061 |
|
$ |
315,856 |
|
$ |
47,323 |
|
$ |
268,533 |
Customer contracts/ relationships |
|
|
396,400 |
|
|
22,167 |
|
|
374,233 |
|
|
386,400 |
|
|
12,902 |
|
|
373,498 |
Vendor relationships |
|
|
43,900 |
|
|
25,492 |
|
|
18,408 |
|
|
43,900 |
|
|
21,219 |
|
|
22,681 |
Trademarks and trade names |
|
|
51,300 |
|
|
1,234 |
|
|
50,066 |
|
|
7,300 |
|
|
780 |
|
|
6,520 |
Publishing rights |
|
|
41,100 |
|
|
7,284 |
|
|
33,816 |
|
|
41,100 |
|
|
5,229 |
|
|
35,871 |
Backlog |
|
|
60,900 |
|
|
15,051 |
|
|
45,849 |
|
|
60,900 |
|
|
6,554 |
|
|
54,346 |
Skillsoft trademark |
|
|
84,700 |
|
|
— |
|
|
84,700 |
|
|
84,700 |
|
|
— |
|
|
84,700 |
Global Knowledge trademark |
|
|
25,400 |
|
|
2,808 |
|
|
22,592 |
|
|
25,400 |
|
|
2,062 |
|
|
23,338 |
Total |
|
$ |
1,079,766 |
|
$ |
140,041 |
|
$ |
939,725 |
|
$ |
965,556 |
|
$ |
96,069 |
|
$ |
869,487 |
|
| 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 (remaining 9 months) |
|
$ |
142,028 |
2024 |
|
|
165,083 |
2025 |
|
|
141,573 |
2026 |
|
|
135,341 |
2027 |
|
|
87,270 |
Thereafter |
|
|
183,730 |
Total |
|
$ |
855,025 |
|
| Schedule of goodwill |
A roll forward of goodwill is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
Description |
|
Skillsoft |
|
SumTotal |
|
GK |
|
Consolidated |
Goodwill, net January 31, 2022 (Successor) |
|
$ |
680,500 |
|
$ |
75,693 |
|
$ |
115,311 |
|
$ |
871,504 |
Foreign currency translation adjustment |
|
|
(102) |
|
|
(99) |
|
|
(730) |
|
|
(931) |
Acquisition of Codecademy |
|
|
309,967 |
|
|
— |
|
|
— |
|
|
309,967 |
Measurement period adjustments |
|
|
— |
|
|
— |
|
|
(614) |
|
|
(614) |
Goodwill, net April 30, 2022 (Successor) |
|
$ |
990,365 |
|
$ |
75,594 |
|
$ |
113,967 |
|
$ |
1,179,926 |
|