Goodwill And Intangible Assets

12 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 6: GOODWILL AND INTANGIBLE ASSETS

Changes in the carrying amount of goodwill for the periods ended June 30, 2022, June 30, 2021, April 30, 2021 and April 30, 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
Acquisitions	166		—		166
Disposals and foreign currency changes, net	(3,304)		—		(3,304)
Impairments	—		—		—
Balances as of June 30, 2021	892,818		(138,297)		754,521
Acquisitions	18,696		—		18,696
Disposals and foreign currency changes, net	(12,816)		—		(12,816)
Impairments	—		—		—
Balances as of June 30, 2022	$	898,698	$	(138,297)	$	760,401

We test goodwill for impairment annually as of February 1, 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. 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)
	Gross Carrying Amount		Accumulated Amortization		Net
As of June 30, 2022:
Reacquired franchise rights	$	379,114	$	(197,068)	$	182,046
Customer relationships	331,020		(278,717)		52,303
Internally-developed software	137,638		(107,111)		30,527
Noncompete agreements	41,789		(37,684)		4,105
Franchise agreements	19,201		(17,388)		1,813
Purchased technology	122,700		(87,910)		34,790
Trade name	5,800		(1,740)		4,060
	$	1,037,262	$	(727,618)	$	309,644
As of June 30, 2021:
Reacquired franchise rights	$	370,405	$	(182,366)	$	188,039
Customer relationships	316,547		(255,294)		61,253
Internally-developed software	160,315		(119,460)		40,855
Noncompete agreements	41,228		(35,802)		5,426
Franchise agreements	19,201		(16,108)		3,093
Purchased technology	122,700		(74,913)		47,787
Trade name	5,800		(1,160)		4,640
	$	1,036,196	$	(685,103)	$	351,093
As of April 30, 2021:
Reacquired franchise rights	$	370,112	$	(179,356)	$	190,756
Customer relationships	316,508		(251,160)		65,348
Internally-developed software	156,308		(116,126)		40,182
Noncompete agreements	41,212		(35,484)		5,728
Franchise agreements	19,201		(15,894)		3,307
Purchased technology	122,700		(72,609)		50,091
Trade name	5,800		(1,064)		4,736
	$	1,031,841	$	(671,693)	$	360,148

Amortization of intangible assets for continuing operations for the fiscal years ended June 30, 2022, April 30, 2021 and April 30, 2020 was $77.5 million, $83.4 million and $83.6 million, respectively, and was $13.8 million for the Transition Period. Estimated amortization of intangible assets for fiscal years 2023, 2024, 2025, 2026 and 2027 is $66.3 million, $45.8 million, $24.8 million, $17.0 million and $11.9 million, respectively.

We made payments to acquire businesses totaling $35.9 million, $15.6 million and $450.2 million during the fiscal years ended June 30, 2022, April 30, 2021 and April 30, 2020, respectively, and $0.8 million for the Transition Period. The fiscal year ended April 30, 2020 included the acquisition of Wave. The amounts and weighted-average lives of assets acquired during fiscal year 2022, including amounts capitalized related to internally-developed software, are as follows:


(dollars in 000s)
	Amount		Weighted-Average Life (in years)
Internally-developed software	$	10,919	3
Customer relationships	16,179		5
Reacquired franchise rights	9,081		4
Noncompete agreements	600		5
Total	$	36,779	4