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GOODWILL AND INTANGIBLE ASSETS
 3 Months Ended
Jul. 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 three months ended July 31, 2020 and 2019 are as follows:
(in 000s)
 
 
 
Goodwill

 
Accumulated Impairment Losses

 
Net

Balances as of April 30, 2020
 
$
850,435

 
$
(138,297
)
 
$
712,138

Acquisitions
 
—

 
—

 
—

Disposals and foreign currency changes, net
 
12,150

 
—

 
12,150

Impairments
 
—

 
—

 
—

Balances as of July 31, 2020
 
$
862,585

 
$
(138,297
)
 
$
724,288

 
 
 
 
 
 
 
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

 
 
 
 
 
 
 

(1)  
At July 31, 2019, the fair value of the acquired goodwill related to our acquisition of Wave was 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, 2020:
 
 
 
 
 
 
Reacquired franchise rights
 
$
365,506

 
$
(165,721
)
 
$
199,785

Customer relationships
 
314,920

 
(235,645
)
 
79,275

Internally-developed software
 
159,195

 
(115,976
)
 
43,219

Noncompete agreements
 
41,112

 
(34,193
)
 
6,919

Franchise agreements
 
19,201

 
(14,934
)
 
4,267

Purchased technology
 
122,700

 
(61,313
)
 
61,387

Trade name
 
5,800

 
(627
)
 
5,173

 
 
$
1,028,434

 
$
(628,409
)
 
$
400,025

As of July 31, 2019:
 
 
 
 
 
 
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 (1)
 
1,706

 
—

 
1,706

 
 
$
967,368

 
$
(547,977
)
 
$
419,391

As of April 30, 2020:
 
 
 
 
 
 
Reacquired franchise rights
 
$
365,062

 
$
(159,754
)
 
$
205,308

Customer relationships
 
314,191

 
(227,445
)
 
86,746

Internally-developed software
 
154,083

 
(113,698
)
 
40,385

Noncompete agreements
 
41,072

 
(33,639
)
 
7,433

Franchise agreements
 
19,201

 
(14,614
)
 
4,587

Purchased technology
 
122,700

 
(57,548
)
 
65,152

Trade name
 
5,800

 
(483
)
 
5,317

Acquired assets pending final allocation (1)
 
48

 
—

 
48

 
 
$
1,022,157

 
$
(607,181
)
 
$
414,976

 
 
 
 
 
 
 

(1)    Represents franchisee and competitor business acquisitions for which final purchase price allocations have not yet been determined.
We made payments to acquire businesses totaling $13 thousand and $394.4 million during the three months ended July 31, 2020 and 2019, respectively. The three months ended July 31, 2019 included the acquisition of Wave HQ Inc. (formerly known as Wave Financial Inc.) and its subsidiaries (collectively, "Wave").
Amortization of intangible assets for the three months ended July 31, 2020 was $20.9 million compared to $18.2 million for the three months ended July 31, 2019. Estimated amortization of intangible assets for fiscal years 2021, 2022, 2023, 2024 and 2025 is $76.1 million, $59.8 million, $41.9 million, $31.0 million and $17.9 million, respectively.