INTANGIBLE ASSETS (Tables)

6 Months Ended

Dec. 31, 2014

Intangible assets consist of the following (in thousands):

	As of December 31, 2014
	Gross Carrying Amount		Accumulated Amortization		Weighted Avg. Amortization Period
Amortizable Intangible Assets:
Student Relationships	$	79,814	$	(78,725)	(a)
Customer Relationships		3,438		(1,215)	12 Years
Non-compete Agreements		2,475		(2,052)	5 Years
Curriculum/Software		3,152		(2,384)	(b)
Outplacement Relationships		3,900		(1,634)	15 Years
Clinical Agreements		489		(49)	15 Years
Trade Names		5,435		(4,829)	8.5 Years
Total	$	98,702	$	(90,888)
Indefinite-lived Intangible Assets:
Trade Names	$	41,101
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		42,161
Total	$	281,346

(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.

(b) The total weighted average estimated amortization period for Curriculum is 5 years for Becker and 2 years for DeVry Brasil.

	As of December 31, 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 (in thousands):

Fiscal Year	AUC		Becker		DeVry Brasil		Carrington		Total
2015	$	387	$	907	$	912	$	260	$	2,466
2016		-		874		619		260		1,753
2017		-		615		290		260		1,165
2018		-		344		150		260		754
2019		-		344		150		260		754
Thereafter		-		675		382		1,096		2,151

Summary of Goodwill Balances by Reporting Unit

The table below summarizes goodwill balances by reporting unit as of December 31, 2014 (in thousands):

Reporting Unit	As of December 31, 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		55,803
Becker Professional Education		32,755
DeVry University		22,196
Total	$	519,748

Summary of Goodwill Balances by Reporting Segment

The table below summarizes goodwill balances by reporting segment as of December 31, 2014 (in thousands):

Reporting Segment:	As of December 31, 2014
Medical and Healthcare	$	408,994
Business, Technology and Management		22,196
International and Professional Education		88,558
Total	$	519,748

Changes in Carrying Amount of Goodwill, by Segment

The table below summarizes the changes in the carrying amount of goodwill, by segment as of December 31, 2014 (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
Acquisitions		-		-		10,115		10,115
Foreign currency exchange rate changes		-		-		(10,246)		(10,246)
Balance at December 31, 2014	$	408,994	$	22,196	$	88,558	$	519,748

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 December 31, 2014 (dollars in thousands):

Reporting Segment	As of December 31, 2014
Medical and Healthcare	$	204,700
International and Professional Educational		75,001
Business, Technology and Management		1,645
Total	$	281,346