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GOODWILL AND INTANGIBLE ASSETS
 9 Months Ended
Jan. 31, 2020
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 nine months ended January 31, 2020 and 2019 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
 
300,560

 
—

 
300,560

Other Acquisitions
 
23,421

 
—

 
23,421

Disposals and foreign currency changes, net
 
(5,088
)
 
—

 
(5,088
)
Impairments
 
—

 
—

 
—

Balances as of January 31, 2020
 
$
871,127

 
$
(32,297
)
 
$
838,830

 
 
 
 
 
 
 
Balances as of April 30, 2018
 
$
540,168

 
$
(32,297
)
 
$
507,871

Acquisitions
 
13,076

 
—

 
13,076

Disposals and foreign currency changes, net
 
(942
)
 
—

 
(942
)
Impairments
 
—

 
—

 
—

Balances as of January 31, 2019
 
$
552,302

 
$
(32,297
)
 
$
520,005

 
 
 
 
 
 
 

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 January 31, 2020:
 
 
 
 
 
 
Reacquired franchise rights
 
$
364,376

 
$
(153,392
)
 
$
210,984

Customer relationships
 
313,521

 
(219,664
)
 
93,857

Internally-developed software
 
154,962

 
(116,383
)
 
38,579

Noncompete agreements
 
41,386

 
(33,151
)
 
8,235

Franchise agreements
 
19,201

 
(14,294
)
 
4,907

Purchased technology
 
122,801

 
(53,525
)
 
69,276

Trade name
 
5,800

 
(338
)
 
5,462

Acquired assets pending final allocation (1)
 
1,774

 
—

 
1,774

 
 
$
1,023,821

 
$
(590,747
)
 
$
433,074

As of January 31, 2019:
 
 
 
 
 
 
Reacquired franchise rights
 
$
350,459

 
$
(130,618
)
 
$
219,841

Customer relationships
 
274,293

 
(187,080
)
 
87,213

Internally-developed software
 
147,465

 
(119,664
)
 
27,801

Noncompete agreements
 
33,369

 
(31,040
)
 
2,329

Franchise agreements
 
19,201

 
(13,014
)
 
6,187

Purchased technology
 
54,700

 
(42,082
)
 
12,618

Acquired assets pending final allocation (1)
 
963

 
—

 
963

 
 
$
880,450

 
$
(523,498
)
 
$
356,952

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 (1)
 
431

 
—

 
431

 
 
$
872,195

 
$
(529,702
)
 
$
342,493

 
 
 
 
 
 
 

(1)    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 tax businesses totaling $53.7 million and $42.4 million during the nine months ended January 31, 2020 and 2019, respectively. From the current period acquisitions, we have acquired approximately 224 U.S. franchisee and competitor tax offices. The amounts and weighted-average lives of intangible assets acquired during the nine months ended January 31, 2020, including amounts capitalized and placed in service related to internally-developed software, are as follows:
(dollars in 000s)
 
 
Amount

 
Weighted-Average Life (in years)
Reacquired franchise rights
 
$
13,940

 
5
Customer relationships
 
18,079

 
5
Internally-developed software
 
12,659

 
3
Noncompete agreements
 
642

 
5
Total
 
$
45,320

 
4
 
 
 
 
 

Amortization of intangible assets for the three and nine months ended January 31, 2020 was $21.5 million and $61.3 million, respectively. Amortization of intangible assets for the three and nine months ended January 31, 2019
was $18.7 million and $54.5 million, respectively. Estimated amortization of intangible assets for fiscal years 2020, 2021, 2022, 2023 and 2024 is $83.0 million, $75.0 million, $58.9 million, $41.3 million and $30.8 million, respectively.