| Schedule of intangible assets |
Intangible assets consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
October 31, 2022 (Successor) |
|
January 31, 2022 (Successor) |
|
|
Gross |
|
|
|
|
Net |
|
Gross |
|
|
|
|
Net |
|
|
Carrying |
|
Accumulated |
|
Carrying |
|
Carrying |
|
Accumulated |
|
Carrying |
|
|
Amount |
|
Amortization |
|
Amount |
|
Amount |
|
Amortization |
|
Amount |
Developed software/ courseware |
|
$ |
370,252 |
|
$ |
103,111 |
|
$ |
267,141 |
|
$ |
303,171 |
|
$ |
43,956 |
|
$ |
259,215 |
Customer contracts/ relationships |
|
|
327,686 |
|
|
33,149 |
|
|
294,537 |
|
|
332,300 |
|
|
10,436 |
|
|
321,864 |
Vendor relationships |
|
|
38,235 |
|
|
29,645 |
|
|
8,590 |
|
|
43,900 |
|
|
21,219 |
|
|
22,681 |
Trademarks and trade names |
|
|
45,500 |
|
|
2,753 |
|
|
42,747 |
|
|
1,500 |
|
|
104 |
|
|
1,396 |
Publishing rights |
|
|
41,100 |
|
|
11,394 |
|
|
29,706 |
|
|
41,100 |
|
|
5,229 |
|
|
35,871 |
Backlog |
|
|
49,700 |
|
|
25,811 |
|
|
23,889 |
|
|
49,700 |
|
|
4,906 |
|
|
44,794 |
Skillsoft trademark |
|
|
84,700 |
|
|
— |
|
|
84,700 |
|
|
84,700 |
|
|
— |
|
|
84,700 |
Global Knowledge trademark |
|
|
22,113 |
|
|
3,743 |
|
|
18,370 |
|
|
25,400 |
|
|
2,062 |
|
|
23,338 |
Total |
|
$ |
979,286 |
|
$ |
209,606 |
|
$ |
769,680 |
|
$ |
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 3 months) |
|
$ |
41,907 |
2024 |
|
|
149,210 |
2025 |
|
|
129,121 |
2026 |
|
|
124,947 |
2027 |
|
|
79,912 |
Thereafter |
|
|
159,883 |
Total |
|
$ |
684,980 |
|
| 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 |
Foreign currency translation adjustment |
|
|
(46) |
|
|
99 |
|
|
53 |
Impairment of goodwill |
|
|
(569,256) |
|
|
(1,631) |
|
|
(570,887) |
Measurement period adjustments |
|
|
208 |
|
|
— |
|
|
208 |
Goodwill, net October 31, 2022 (Successor) |
|
$ |
420,416 |
|
$ |
41,664 |
|
$ |
462,080 |
|