Annual report pursuant to Section 13 and 15(d)

Goodwill and Intangible Assets (Tables)

v3.7.0.1
Goodwill and Intangible Assets (Tables)
12 Months Ended
Apr. 30, 2017
Changes in Carrying Value of Goodwill by Reportable Segment

Changes in the carrying value of goodwill by reportable segment were as follows:

 

    Executive Search                    
    North
America
    EMEA     Asia
Pacific
    Subtotal     Hay Group     Futurestep     Consolidated  
    (in thousands)  

Balance as of May 1, 2015.

  $ 49,603     $ 45,922     $ 972     $ 96,497     $ 129,549     $ 28,394     $ 254,440  

Additions

                            335,921             335,921  

Exchange rate fluctuations.

    (1,283     271             (1,012     467       256       (289
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance as of April 30, 2016.

    48,320       46,193       972       95,485       465,937       28,650       590,072  

Adjustments

                            (8,179           (8,179

Exchange rate fluctuations.

    (2,119     (1,217           (3,336     (517     (1,175     (5,028
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance as of April 30, 2017.

  $       46,201     $       44,976     $          972     $       92,149     $     457,241     $       27,475     $     576,865  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
Intangible Assets

Intangible assets include the following:

 

    April 30, 2017     April 30, 2016  
    (in thousands)  
Amortized intangible assets:   Gross     Accumulated
Amortization
    Net     Gross     Accumulated
Amortization
    Net  

Customer lists

  $ 125,099     $ (31,094   $ 94,005     $ 125,099     $ (19,910   $ 105,189  

Intellectual property

    33,100       (16,994     16,106       33,100       (13,281     19,819  

Proprietary databases

    4,256       (3,202     1,054       4,256       (2,777     1,479  

Trademarks

    3,986       (3,986           3,986       (3,986      

Non-compete agreements

    910       (833     77       910       (753     157  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total

  $      167,351     $       (56,109     111,242     $      167,351     $       (40,707     126,644  
 

 

 

   

 

 

     

 

 

   

 

 

   

Unamortized intangible assets:

           

Trademarks

 

    106,000           106,000  

Exchange rate fluctuations

 

    77           383  
     

 

 

       

 

 

 

Total Intangible assets

 

  $      217,319         $      233,027  
     

 

 

       

 

 

 
Estimated Annual Amortization Expense Related to Amortizing Intangible Assets

Estimated annual amortization expense related to amortizing intangible assets is as follows:

 

Year Ending April 30,

   Estimated
Annual
Amortization
Expense
 
     (in thousands)  

2018

   $ 14,742  

2019

     13,487  

2020

     13,204  

2021

     13,280  

2022

     13,269  

Thereafter

     43,260  
  

 

 

 
   $         111,242