Annual report pursuant to Section 13 and 15(d)

Goodwill and Intangible Assets (Tables)

v3.22.2
Goodwill and Intangible Assets (Tables)
12 Months Ended
Apr. 30, 2022
Goodwill And Intangible Assets Disclosure [Abstract]  
Changes in Carrying Value of Goodwill by Reportable Segment

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

 

 

 

 

 

 

 

 

 

 

Executive Search

 

 

 

 

 

 

 

 

 

 

 

Consulting

 

 

Digital

 

 

North

America

 

 

EMEA

 

 

Asia

Pacific

 

 

RPO &

Professional

Search

 

 

Consolidated

 

 

 

(in thousands)

 

Balance as of May 1, 2020

 

$

173,014

 

 

$

322,727

 

 

$

45,721

 

 

$

44,494

 

 

$

972

 

 

$

27,015

 

 

$

613,943

 

Adjustments

 

 

 

 

 

2,643

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2,643

 

Exchange rate fluctuations

 

 

396

 

 

 

1,258

 

 

 

2,777

 

 

 

2,955

 

 

 

 

 

 

2,697

 

 

 

10,083

 

Balance as of April 30, 2021

 

 

173,410

 

 

 

326,628

 

 

 

48,498

 

 

 

47,449

 

 

 

972

 

 

 

29,712

 

 

 

626,669

 

Additions (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

104,962

 

 

 

104,962

 

Exchange rate fluctuations

 

 

(440

)

 

 

(1,274

)

 

 

(934

)

 

 

(877

)

 

 

 

 

 

(2,514

)

 

 

(6,039

)

Balance as of April 30, 2022

 

$

172,970

 

 

$

325,354

 

 

$

47,564

 

 

$

46,572

 

 

$

972

 

 

$

132,160

 

 

$

725,592

 

 

(1)

Additions to goodwill in fiscal 2022 was due to $76.8 million and $28.2 million from the acquisition of the Lucas Group and Patina Solutions Group, respectively.

Intangible Assets

Intangible assets include the following:

 

 

 

April 30, 2022

 

 

April 30, 2021

 

 

 

(in thousands)

 

Amortized intangible assets:

 

Gross

 

 

Accumulated

Amortization

 

 

Net

 

 

Gross

 

 

Accumulated

Amortization

 

 

Net

 

Customer lists

 

$

146,799

 

 

$

(89,024

)

 

$

57,775

 

 

$

131,299

 

 

$

(76,489

)

 

$

54,810

 

Intellectual property

 

 

69,100

 

 

 

(40,720

)

 

 

28,380

 

 

 

69,100

 

 

 

(33,623

)

 

 

35,477

 

Proprietary databases

 

 

4,256

 

 

 

(4,256

)

 

 

 

 

 

4,256

 

 

 

(4,234

)

 

 

22

 

Non-compete agreements

 

 

910

 

 

 

(910

)

 

 

 

 

 

910

 

 

 

(910

)

 

 

 

Trademarks

 

 

8,986

 

 

 

(5,261

)

 

 

3,725

 

 

 

7,186

 

 

 

(4,636

)

 

 

2,550

 

Total (1)

 

$

230,051

 

 

$

(140,171

)

 

 

89,880

 

 

$

212,751

 

 

$

(119,892

)

 

 

92,859

 

Exchange rate fluctuations

 

 

 

 

 

 

 

 

 

 

(110

)

 

 

 

 

 

 

 

 

 

 

90

 

Total Intangible assets

 

 

 

 

 

 

 

 

 

$

89,770

 

 

 

 

 

 

 

 

 

 

$

92,949

 

 

(1)

In fiscal 2022 there were intangible assets additions of $11.6 million and $5.7 million from the acquisition of the Lucas Group and Patina Solutions Group, respectively.

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)

 

2023

 

$

20,384

 

2024

 

 

17,583

 

2025

 

 

16,889

 

2026

 

 

16,388

 

2027

 

 

10,635

 

Thereafter

 

 

7,891

 

 

 

$

89,770