INTANGIBLE ASSETS (Tables)

3 Months Ended

Sep. 30, 2014

Intangible assets consist of the following (dollars in thousands):

	As of September 30, 2014
	Gross Carrying Amount		Accumulated Amortization		Weighted Avg. Amortization Period
Amortizable Intangible Assets:
Student Relationships	$	80,591	$	(79,224)	(a)
Customer Relationships		3,561		(1,171)	12 Years
Non-compete Agreements		2,483		(2,013)	5 Years
Curriculum/Software		3,110		(2,351)	5 Years
Outplacement Relationships		3,900		(1,569)	15 Years
Clinical Agreements		530		(44)	15 Years
Trade Names		5,612		(4,916)	8.5Years
Total	$	99,787	$	(91,289)
Indefinite-lived Intangible Assets:
Trade Names	$	40,454
Trademark		1,645
Ross Title IV Eligibility and Accreditations		14,100
Intellectual Property		13,940
Chamberlain Title IV Eligibility and Accreditations		1,200
Carrington Title IV Eligibility and Accreditations		67,200
AUC Title IV Eligibility and Accreditations		100,000
DeVry Brasil Accreditation		41,583
Total	$	280,122

(a)

The total weighted average estimated amortization period for Student Relationships is 6 years for Faculdade Boa Viagem ("FBV"), 5 years for Centro Universitario do Vale do Ipojuca ("Unifavip") and 4 years for AUC.

	As of September 30, 2013
	Gross Carrying Amount		Accumulated Amortization
Amortizable Intangible Assets:
Student Relationships	$	81,619	$	(76,130)
Customer Relationships		3,554		(813)
Non-compete Agreements		2,517		(1,859)
Curriculum/Software		5,648		(4,424)
Outplacement Relationships		3,900		(1,309)
Trade Names		5,838		(4,828)
Clinical Agreements		585		(10)
Total		103,661		(89,373)

Indefinite-lived Intangible Assets:
Trade Names	$	40,894
Trademark		1,645
Ross Title IV Eligibility and Accreditations		14,100
Intellectual Property		13,940
Chamberlain Title IV Eligibility and Accreditations		1,200
Carrington Title IV Eligibility and Accreditations		67,200
AUC Title IV Eligibility and Accreditations		100,000
DeVry Brasil Accreditation		45,152
Total	$	284,131

Estimated Amortization Expense for Amortized Intangible Assets

Estimated amortization expense for amortizable intangible assets for the next five fiscal years ending June 30, by reporting unit, is as follows (dollars in thousands):

Fiscal Year	AUC		Becker		DeVry Brasil		Carrington		Total
2016	$	387	$	928	$	943	$	260	$	2,518
2017		-		893		610		260		1,763
2018		-		628		299		260		1,187
2019		-		356		163		260		779
2020		-		356		163		260		779
Thereafter		-		698		414		1,096		2,206

Summary of Goodwill Balances by Reporting Unit

The table below summarizes goodwill balances by reporting unit as of September 30, 2014 (dollars in thousands):

Reporting Unit	As of September 30, 2014
American University of the Caribbean	$	68,321
Ross University School of Medicine and Ross University School of Veterinary Medicine		237,173
Chamberlain College of Nursing		4,716
Carrington College		98,784
DeVry Brasil		50,082
Becker Professional Education		32,948
DeVry University		22,196
Total	$	514,220

Summary of Goodwill Balances by Reporting Segment

The table below summarizes goodwill balances by reporting segment as of September 30, 2014 (dollars in thousands):

Reporting Segment:	As of September 30, 2014
Medical and Healthcare	$	408,994
Business, Technology and Management		22,196
International and Professional Education		83,030
Total	$	514,220

Changes in Carrying Amount of Goodwill, by Segment

The table below summarizes the changes in the carrying amount of goodwill, by segment as of September 30, 2014 (dollars in thousands):

	Medical and Healthcare		Business, Technology and Management		International and Professional Education		Total
Balance at June 30, 2012	$	462,088	$	22,196	$	65,677	$	549,961
Acquisitions		-		-		16,120		16,120
Impairments		(53,094)		-		-		(53,094)
Foreign currency exchange rate changes						(4,050)		(4,050)
Balance at June 30, 2013	$	408,994	$	22,196	$	77,747	$	508,937
Acquisitions		-		-		9,675		9,675
Foreign currency exchange rate changes		-		-		1,267		1,267
Balance at June 30, 2014	$	408,994	$	22,196	$	88,689	$	519,879
Foreign currency exchange rate changes		-		-		(5,659)		(5,659)
Balance at September 30, 2014	$	408,994	$	22,196	$	83,030	$	514,220

Summary of Indefinite-Lived Intangible Assets Balances by Reporting Unit

The table below summarizes the indefinite-lived intangible asset balances by reporting segment as of September 30, 2014 (dollars in thousands):

Reporting Segment	As of September 30, 2014
Medical and Healthcare	$	204,700
International and Professional Educational		73,777
Business, Technology and Management		1,645
Total	$	280,122