| Schedule of intangible assets |
Intangible assets consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
July 31, 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 |
|
$ |
367,511 |
|
$ |
83,581 |
|
$ |
283,930 |
|
$ |
300,771 |
|
$ |
43,687 |
|
$ |
257,084 |
Customer contracts/ relationships |
|
|
342,300 |
|
|
26,843 |
|
|
315,457 |
|
|
332,300 |
|
|
10,436 |
|
|
321,864 |
Vendor relationships |
|
|
43,900 |
|
|
29,765 |
|
|
14,135 |
|
|
43,900 |
|
|
21,219 |
|
|
22,681 |
Trademarks and trade names |
|
|
45,500 |
|
|
1,675 |
|
|
43,825 |
|
|
3,900 |
|
|
373 |
|
|
3,527 |
Publishing rights |
|
|
41,100 |
|
|
9,339 |
|
|
31,761 |
|
|
41,100 |
|
|
5,229 |
|
|
35,871 |
Backlog |
|
|
49,700 |
|
|
18,843 |
|
|
30,857 |
|
|
49,700 |
|
|
4,906 |
|
|
44,794 |
Skillsoft trademark |
|
|
84,700 |
|
|
— |
|
|
84,700 |
|
|
84,700 |
|
|
— |
|
|
84,700 |
Global Knowledge trademark |
|
|
25,400 |
|
|
3,554 |
|
|
21,846 |
|
|
25,400 |
|
|
2,062 |
|
|
23,338 |
Total |
|
$ |
1,000,111 |
|
$ |
173,600 |
|
$ |
826,511 |
|
$ |
881,771 |
|
$ |
87,912 |
|
$ |
793,859 |
|
| 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 6 months) |
|
$ |
86,728 |
2024 |
|
|
151,255 |
2025 |
|
|
130,557 |
2026 |
|
|
126,571 |
2027 |
|
|
80,867 |
Thereafter |
|
|
165,833 |
Total |
|
$ |
741,811 |
|
| Schedule of goodwill |
A roll forward of goodwill is as follows:
|
|
|
|
|
|
|
|
|
|
Description |
|
Skillsoft |
|
GK |
|
Consolidated |
Goodwill, net January 31, 2022 (Successor) |
|
$ |
680,500 |
|
$ |
115,311 |
|
$ |
795,811 |
Foreign currency translation adjustment |
|
|
(102) |
|
|
(730) |
|
|
(832) |
Acquisition of Codecademy |
|
|
309,967 |
|
|
— |
|
|
309,967 |
Measurement period adjustments |
|
|
— |
|
|
(614) |
|
|
(614) |
Goodwill, net April 30, 2022 (Successor) |
|
$ |
990,365 |
|
$ |
113,967 |
|
$ |
1,104,332 |
Foreign currency translation adjustment |
|
|
(36) |
|
|
(422) |
|
|
(458) |
Impairment of goodwill |
|
|
— |
|
|
(70,475) |
|
|
(70,475) |
Measurement period adjustments |
|
|
(819) |
|
|
126 |
|
|
(693) |
Goodwill, net July 31, 2022 (Successor) |
|
$ |
989,510 |
|
$ |
43,196 |
|
$ |
1,032,706 |
|