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Goodwill and Intangible Assets
 3 Months Ended
Jul. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets
NOTE 5: GOODWILL AND INTANGIBLE ASSETS
Changes in the carrying amount of goodwill for the three months ended July 31, 2019 and 2018 are as follows:
(in 000s)
 
 
 
Goodwill

 
Accumulated Impairment Losses

 
Net

Balances as of April 30, 2019
 
$
552,234

 
$
(32,297
)
 
$
519,937

Acquisition of Wave (1)
 
303,359

 
$
—

 
303,359

Other Acquisitions
 
1,083

 
—

 
1,083

Disposals and foreign currency changes, net
 
(3,101
)
 
—

 
(3,101
)
Impairments
 
—

 
—

 
—

Balances as of July 31, 2019
 
$
853,575

 
$
(32,297
)
 
$
821,278

 
 
 
 
 
 
 
Balances as of April 30, 2018
 
$
540,168

 
$
(32,297
)
 
$
507,871

Acquisitions
 
651

 
—

 
651

Disposals and foreign currency changes, net
 
(581
)
 
—

 
(581
)
Impairments
 
—

 
—

 
—

Balances as of July 31, 2018
 
$
540,238

 
$
(32,297
)
 
$
507,941

 
 
 
 
 
 
 

(1)    The fair value of the acquired goodwill related to our acquisition of Wave is provisional pending the final purchase price allocation.
We test goodwill for impairment annually in our fourth quarter, or more frequently if events occur or circumstances change which would, more likely than not, reduce the fair value of a reporting unit below its carrying value.
Components of intangible assets are as follows:
(in 000s)
 
 
 
Gross
Carrying
Amount

 
Accumulated
Amortization

 
Net

As of July 31, 2019: (1)
 
 
 
 
 
 
Reacquired franchise rights
 
$
350,679

 
$
(141,954
)
 
$
208,725

Customer relationships
 
300,156

 
(203,283
)
 
96,873

Internally-developed software
 
144,768

 
(111,892
)
 
32,876

Noncompete agreements
 
40,358

 
(31,980
)
 
8,378

Franchise agreements
 
19,201

 
(13,654
)
 
5,547

Purchased technology
 
104,700

 
(45,166
)
 
59,534

Trade name
 
5,800

 
(48
)
 
5,752

Acquired assets pending final allocation (2)
 
1,706

 
—

 
1,706

 
 
$
967,368

 
$
(547,977
)
 
$
419,391

As of July 31, 2018:
 
 
 
 
 
 
Reacquired franchise rights
 
$
339,747

 
$
(119,386
)
 
$
220,361

Customer relationships
 
256,858

 
(171,542
)
 
85,316

Internally-developed software
 
137,914

 
(114,622
)
 
23,292

Noncompete agreements
 
32,888

 
(30,144
)
 
2,744

Franchise agreements
 
19,201

 
(12,374
)
 
6,827

Purchased technology
 
54,700

 
(39,210
)
 
15,490

Acquired assets pending final allocation (2)
 
801

 
—

 
801

 
 
$
842,109

 
$
(487,278
)
 
$
354,831

As of April 30, 2019:
 
 
 
 
 
 
Reacquired franchise rights
 
$
350,410

 
$
(136,345
)
 
$
214,065

Customer relationships
 
274,838

 
(195,174
)
 
79,664

Internally-developed software
 
139,239

 
(109,885
)
 
29,354

Noncompete agreements
 
33,376

 
(31,446
)
 
1,930

Franchise agreements
 
19,201

 
(13,334
)
 
5,867

Purchased technology
 
54,700

 
(43,518
)
 
11,182

Acquired assets pending final allocation (2)
 
431

 
—

 
431

 
 
$
872,195

 
$
(529,702
)
 
$
342,493

 
 
 
 
 
 
 

(1)    The fair value of the acquired intangible assets related to our acquisition of Wave is provisional pending the final purchase price allocation.
(2)    Represents franchisee and competitor business acquisitions for which final purchase price allocations have not yet been determined.
We made payments to acquire franchisee and competitor businesses totaling $1.4 million during the three months ended July 31, 2019 and 2018. These payments do not include the payments made to acquire Wave as discussed in note 1.
Amortization of intangible assets for the three months ended July 31, 2019 and 2018 was $18.2 million and $18.1 million, respectively. Estimated amortization of intangible assets, excluding provisional amounts related to the Wave acquisition, for fiscal years 2020, 2021, 2022, 2023 and 2024 is $62.1 million, $45.4 million, $32.1 million, $18.5 million and $11.8 million, respectively.