Goodwill and Intangible Assets
|12 Months Ended|
Apr. 30, 2019
|Goodwill And Intangible Assets Disclosure [Abstract]|
|Goodwill and Intangible Assets||
13. Goodwill and Intangible Assets
Changes in the carrying value of goodwill by reportable segment were as follows:
Tax deductible goodwill from the PIVOT Leadership acquisition was $7.1 million and $7.0 million as of April 30, 2019 and 2018, respectively.
Intangible assets include the following:
During fiscal 2019, the Company decided to further integrate our go-to-market activities under one master brand —Korn Ferry, and discontinued the use of all sub-brands. Two of the Company’s sub-brands, Hay Group and Lominger, came to Korn Ferry through acquisitions. As a result of the decision to discontinue their use, the Company took a non-cash intangible asset impairment charge of $106.6 million during the year ended April 30, 2019, recorded in general and administrative expenses.
Amortization expense for amortized intangible assets was $13.5 million, $14.7 million and $15.4 million during fiscal 2019, 2018 and 2017, respectively. Estimated annual amortization expense related to amortizing intangible assets is as follows:
All amortizable intangible assets will be fully amortized by the end of fiscal 2032.
The entire disclosure for goodwill and intangible assets.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef