Goodwill and Intangible Assets

12 Months Ended

Apr. 30, 2022

Goodwill And Intangible Assets Disclosure [Abstract]

14. Goodwill and Intangible Assets

Changes in the carrying value of goodwill by reportable segment were as follows:

							Executive Search
	Consulting			Digital			North America			EMEA			Asia Pacific		RPO & Professional Search			Consolidated
	(in thousands)
Balance as of May 1, 2020	$	173,014		$	322,727		$	45,721		$	44,494		$	972	$	27,015		$	613,943
Adjustments		—			2,643			—			—			—		—			2,643
Exchange rate fluctuations		396			1,258			2,777			2,955			—		2,697			10,083
Balance as of April 30, 2021		173,410			326,628			48,498			47,449			972		29,712			626,669
Additions (1)		—			—			—			—			—		104,962			104,962
Exchange rate fluctuations		(440	)		(1,274	)		(934	)		(877	)		—		(2,514	)		(6,039	)
Balance as of April 30, 2022	$	172,970		$	325,354		$	47,564		$	46,572		$	972	$	132,160		$	725,592

⁽¹⁾	Additions to goodwill in fiscal 2022 was due to $76.8 million and $28.2 million from the acquisition of the Lucas Group and Patina Solutions Group, respectively.

Tax deductible goodwill from the Miller Heiman acquisition was $22.7 million and $24.5 million as of April 30, 2022 and 2021, respectively. Tax deductible goodwill from the PIVOT Leadership acquisition was $5.9 million and $6.6 million as of April 30, 2022 and 2021, respectively.

Intangible assets include the following:

	April 30, 2022								April 30, 2021
	(in thousands)
Amortized intangible assets:	Gross		Accumulated Amortization			Net			Gross		Accumulated Amortization			Net
Customer lists	$	146,799	$	(89,024	)	$	57,775		$	131,299	$	(76,489	)	$	54,810
Intellectual property		69,100		(40,720	)		28,380			69,100		(33,623	)		35,477
Proprietary databases		4,256		(4,256	)		—			4,256		(4,234	)		22
Non-compete agreements		910		(910	)		—			910		(910	)		—
Trademarks		8,986		(5,261	)		3,725			7,186		(4,636	)		2,550
Total (1)	$	230,051	$	(140,171	)		89,880		$	212,751	$	(119,892	)		92,859
Exchange rate fluctuations							(110	)							90
Total Intangible assets						$	89,770							$	92,949

⁽¹⁾	In fiscal 2022 there were intangible assets additions of $11.6 million and $5.7 million from the acquisition of the Lucas Group and Patina Solutions Group, respectively.

Acquisition-related intangible assets acquired in fiscal 2022 consists of customer relationships and tradenames of $15.5 million and $1.8 million, respectively, with weighted-average useful lives from the date of purchase of seven years and two years, respectively.

Amortization expense for amortized intangible assets was $20.3 million, $19.2 million and $16.3 million during fiscal 2022, 2021 and 2020, respectively. Estimated annual amortization expense related to amortizing intangible assets is as follows:

Year Ending April 30,	Estimated Annual Amortization Expense
	(in thousands)
2023	$	20,384
2024		17,583
2025		16,889
2026		16,388
2027		10,635
Thereafter		7,891
	$	89,770

All amortizable intangible assets will be fully amortized by the end of fiscal 2032.