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:
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Executive Search |
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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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Hay Group |
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Futurestep |
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Consolidated |
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| |
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(in
thousands) |
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|
Balance as of May 1, 2015.
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|
$ |
49,603 |
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|
$ |
45,922 |
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|
$ |
972 |
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|
$ |
96,497 |
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|
$ |
129,549 |
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$ |
28,394 |
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$ |
254,440 |
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Additions
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— |
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— |
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— |
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— |
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|
335,921 |
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— |
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|
335,921 |
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|
Exchange rate fluctuations.
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|
(1,283 |
) |
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|
271 |
|
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|
— |
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|
(1,012 |
) |
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|
467 |
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|
256 |
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|
(289 |
) |
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Balance as of April 30, 2016.
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|
48,320 |
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|
46,193 |
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|
972 |
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|
95,485 |
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465,937 |
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|
28,650 |
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|
590,072 |
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Adjustments
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— |
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— |
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— |
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— |
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(8,179 |
) |
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— |
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|
(8,179 |
) |
|
Exchange rate fluctuations.
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|
(2,119 |
) |
|
|
(1,217 |
) |
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— |
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|
(3,336 |
) |
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(517 |
) |
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(1,175 |
) |
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(5,028 |
) |
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Balance as of April 30, 2017.
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|
$ |
46,201 |
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$ |
44,976 |
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$ |
972 |
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$ |
92,149 |
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$ |
457,241 |
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$ |
27,475 |
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$ |
576,865 |
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| Intangible Assets |
Intangible assets include the following:
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April 30, 2017 |
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April 30, 2016 |
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(in
thousands) |
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| Amortized intangible assets: |
|
Gross |
|
|
Accumulated
Amortization |
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Net |
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|
Gross |
|
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Accumulated
Amortization |
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Net |
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|
Customer lists
|
|
$ |
125,099 |
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|
$ |
(31,094 |
) |
|
$ |
94,005 |
|
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$ |
125,099 |
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|
$ |
(19,910 |
) |
|
$ |
105,189 |
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|
Intellectual property
|
|
|
33,100 |
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|
(16,994 |
) |
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|
16,106 |
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|
33,100 |
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(13,281 |
) |
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|
19,819 |
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Proprietary databases
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4,256 |
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(3,202 |
) |
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1,054 |
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4,256 |
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(2,777 |
) |
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|
1,479 |
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Trademarks
|
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|
3,986 |
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|
(3,986 |
) |
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|
— |
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|
3,986 |
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|
(3,986 |
) |
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— |
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Non-compete agreements
|
|
|
910 |
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(833 |
) |
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|
77 |
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|
910 |
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(753 |
) |
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|
157 |
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Total
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|
$ |
167,351 |
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|
$ |
(56,109 |
) |
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|
111,242 |
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$ |
167,351 |
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|
$ |
(40,707 |
) |
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|
126,644 |
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Unamortized intangible assets:
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Trademarks
|
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|
106,000 |
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|
106,000 |
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|
Exchange rate fluctuations
|
|
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|
77 |
|
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|
383 |
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Total Intangible assets
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|
$ |
217,319 |
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|
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$ |
233,027 |
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| 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
|
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| |
|
(in thousands)
|
|
|
2018
|
|
$ |
14,742 |
|
|
2019
|
|
|
13,487 |
|
|
2020
|
|
|
13,204 |
|
|
2021
|
|
|
13,280 |
|
|
2022
|
|
|
13,269 |
|
|
Thereafter
|
|
|
43,260 |
|
|
|
|
|
|
|
|
$ |
111,242 |
|
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