Goodwill and Intangible Assets (Tables)
|
12 Months Ended |
Apr. 30, 2013
|
Changes In Carrying Value Of Goodwill By Reportable Segment |
Changes in the carrying
value of goodwill by reportable segment were as
follows:
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|
Executive
Recruitment |
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|
North
America |
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|
EMEA |
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Asia
Pacific |
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Subtotal |
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|
LTC |
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|
Futurestep |
|
|
Consolidated |
|
|
|
(in
thousands) |
|
Balance as of
April 30, 2011
|
|
$ |
57,319 |
|
|
$ |
53,908 |
|
|
$ |
972 |
|
|
$ |
112,199 |
|
|
$ |
36,251 |
|
|
$ |
35,502 |
|
|
$ |
183,952 |
|
Additions
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
343 |
|
|
|
343 |
|
Deletion(1)
|
|
|
(586 |
) |
|
|
— |
|
|
|
— |
|
|
|
(586 |
) |
|
|
— |
|
|
|
— |
|
|
|
(586 |
) |
Exchange rate
fluctuations
|
|
|
(1,125 |
) |
|
|
(3,244 |
) |
|
|
— |
|
|
|
(4,369 |
) |
|
|
— |
|
|
|
(3,002 |
) |
|
|
(7,371 |
) |
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|
|
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|
Balance as of
April 30, 2012
|
|
|
55,608 |
|
|
|
50,664 |
|
|
|
972 |
|
|
|
107,244 |
|
|
|
36,251 |
|
|
|
32,843 |
|
|
|
176,338 |
|
Additions
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
82,839 |
|
|
|
— |
|
|
|
82,839 |
|
Exchange rate
fluctuations
|
|
|
(1,095 |
) |
|
|
(400 |
) |
|
|
— |
|
|
|
(1,495 |
) |
|
|
— |
|
|
|
(389 |
) |
|
|
(1,884 |
) |
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
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|
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|
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|
Balance as of
April 30, 2013
|
|
$ |
54,513 |
|
|
$ |
50,264 |
|
|
$ |
972 |
|
|
$ |
105,749 |
|
|
$ |
119,090 |
|
|
$ |
32,454 |
|
|
$ |
257,293 |
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|
(1) |
During fiscal 2012, the
Company sold a majority interest in a previously consolidated
subsidiary, requiring the Company to deconsolidate the subsidiary
and reduce goodwill by $0.6 million. |
|
Intangible assets |
Intangible
assets include the following:
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|
Weighted-Average
Amortization Period |
|
|
April 30,
2013 |
|
|
April 30,
2012 |
|
|
|
|
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|
(in
thousands) |
|
|
|
|
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|
Gross |
|
|
Accumulated
Amortization |
|
|
Net |
|
|
Gross |
|
|
Accumulated
Amortization |
|
|
Net |
|
Amortized intangible assets:
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|
Customer lists
|
|
|
10 years |
|
|
$ |
34,899 |
|
|
$ |
(4,887 |
) |
|
$ |
30,012 |
|
|
$ |
6,399 |
|
|
$ |
(2,748 |
) |
|
$ |
3,651 |
|
Proprietary databases
|
|
|
10 years |
|
|
|
4,256 |
|
|
|
(1,500 |
) |
|
|
2,756 |
|
|
|
4,256 |
|
|
|
(1,074 |
) |
|
|
3,182 |
|
Intellectual property
|
|
|
20 years |
|
|
|
22,900 |
|
|
|
(3,887 |
) |
|
|
19,013 |
|
|
|
11,400 |
|
|
|
(2,241 |
) |
|
|
9,159 |
|
Trademarks(1)
|
|
|
4 years |
|
|
|
3,686 |
|
|
|
(1,331 |
) |
|
|
2,355 |
|
|
|
1,186 |
|
|
|
(698 |
) |
|
|
488 |
|
Non-compete agreements
|
|
|
5 years |
|
|
|
810 |
|
|
|
(510 |
) |
|
|
300 |
|
|
|
510 |
|
|
|
(367 |
) |
|
|
143 |
|
|
|
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|
Total
|
|
|
11 years |
|
|
$ |
66,551 |
|
|
$ |
(12,115 |
) |
|
|
54,436 |
|
|
$ |
23,751 |
|
|
$ |
(7,128 |
) |
|
|
16,623 |
|
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Unamortized intangible
assets:
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|
Trademarks
|
|
|
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|
|
|
|
|
|
|
|
|
|
3,800 |
|
|
|
|
|
|
|
|
|
|
|
3,800 |
|
Exchange rate fluctuations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(49 |
) |
|
|
|
|
|
|
|
|
|
|
(10 |
) |
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|
Intangible
assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
58,187 |
|
|
|
|
|
|
|
|
|
|
$ |
20,413 |
|
|
|
|
|
|
|
|
|
|
|
|
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|
(1) |
During fiscal 2011, the
Company wrote-off a trademark no longer in use with a net book
value of $0.9 million, which is included as a component of
general and administrative expenses in the accompanying
consolidated statements of income. |
|
Estimated Annual Amortization Expense Related To Amortizing Intangible Assets |
Estimated
annual amortization expense related to amortizing intangible assets
is as follows:
|
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|
|
|
Year Ending
April 30,
|
|
Estimated
Annual
Amortization
Expense |
|
|
|
(in thousands) |
|
2014
|
|
$ |
8,592 |
|
2015
|
|
|
8,156 |
|
2016
|
|
|
7,017 |
|
2017
|
|
|
5,696 |
|
2018
|
|
|
5,008 |
|
Thereafter
|
|
|
19,967 |
|
|
|
|
|
|
|
|
$ |
54,436 |
|
|
|
|
|
|
|