Goodwill And Intangible Assets

12 Months Ended

Apr. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 6: GOODWILL AND INTANGIBLE ASSETS

Changes in the carrying amount of goodwill for the years ended April 30, 2021 and 2020 are as follows:


(in 000s)
	Goodwill		Accumulated Impairment Losses		Net
Balances as of May 1, 2019	$	552,234	$	(32,297)	$	519,937
Acquisition of Wave	300,560		—		300,560
Other acquisitions	23,795		—		23,795
Disposals and foreign currency changes, net	(26,154)		—		(26,154)
Impairments	—		(106,000)		(106,000)
Balances as of April 30, 2020	850,435		(138,297)		712,138
Acquisitions	6,948		—		6,948
Disposals and foreign currency changes, net	38,573		—		38,573
Impairments	—		—		—
Balances as of April 30, 2021	$	895,956	$	(138,297)	$	757,659

We tested goodwill for impairment in the fourth quarter of fiscal year 2021, and did not identify any impairment. In fiscal year 2020, we recorded a goodwill impairment loss of $106.0 million related to Wave.

Components of intangible assets are as follows:


(in 000s)
As of April 30,	2021						2020
	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Reacquired franchise rights	$	370,112	$	(179,356)	$	190,756	$	365,062	$	(159,754)	$	205,308
Customer relationships	316,508		(251,160)		65,348		314,191		(227,445)		86,746
Internally-developed software	156,308		(116,126)		40,182		154,083		(113,698)		40,385
Noncompete agreements	41,212		(35,484)		5,728		41,072		(33,639)		7,433
Franchise agreements	19,201		(15,894)		3,307		19,201		(14,614)		4,587
Purchased technology	122,700		(72,609)		50,091		122,700		(57,548)		65,152
Trade name	5,800		(1,064)		4,736		5,800		(483)		5,317
Acquired assets pending final allocation (1)	—		—		—		48		—		48
	$	1,031,841	$	(671,693)	$	360,148	$	1,022,157	$	(607,181)	$	414,976

(1) Represents recent business acquisitions for which final purchase price allocations have not yet been determined.

Amortization of intangible assets of continuing operations for the years ended April 30, 2021, 2020 and 2019 was $83.4 million, $83.6 million and $73.2 million, respectively. Estimated amortization of intangible assets for fiscal years 2022, 2023, 2024, 2025 and 2026 is $75.4 million, $57.7 million, $38.4 million, $20.3 million and $13.3 million, respectively.

We made payments to acquire businesses totaling $15.6 million, $450.2 million and $43.6 million during the fiscal years ended April 30, 2021, 2020 and 2019, respectively. The fiscal year ended April 30, 2020 included the acquisition of Wave. The amounts and weighted-average lives of assets acquired during fiscal year 2021, including amounts capitalized and placed in service related to internally-developed software, are as follows:


(dollars in 000s)
	Amount		Weighted-Average Life (in years)
Internally-developed software	$	14,919	3
Customer relationships	8,987		5
Reacquired franchise rights	5,941		5
Noncompete agreements	348		5
Total	$	30,195	4