BUSINESS COMBINATIONS (Tables)

9 Months Ended

Mar. 31, 2015

Damasio Educacional

Estimated Fair Values of Assets Acquired and Liabilities Assumed at Date of Acquisition

The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed at the date of acquisition (in thousands).

	At Feb 2,  2015
Current Assets	$	9,747
Property and Equipment		3,367
Other Long-term Assets		136
Intangible Assets		46,862
Goodwill		55,492
Total Assets Acquired		115,604
Liabilities Assumed		34,262
Net Assets Acquired	$	81,342

Acquired Intangible Assets Subject to Amortization and Values and Estimated Useful Lives

The remaining acquired intangible assets were determined to be subject to amortization with an average useful life of approximately 8 years. The values and estimated useful lives by asset type are as follows (dollars in thousands):

	At Feb 2, 2015
	Value Assigned		Estimated Useful Life
Franchise Contracts	$	13,085	18 years
Student Relationships		5,294	6 years
Test Preparation Relationships		1,193	1 year

Faculdade Ideal

Estimated Fair Values of Assets Acquired and Liabilities Assumed at Date of Acquisition

The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed at the date of acquisition (in thousands).

	At Jan 2, 2015
Current Assets	$	1,052
Property and Equipment		6,049
Intangible Assets		6,754
Goodwill		1,657
Total Assets Acquired		15,512
Liabilities Assumed		15,402
Net Assets Acquired	$	110

Faculdade Martha Falcao

Estimated Fair Values of Assets Acquired and Liabilities Assumed at Date of Acquisition

     The following table summarizes the fair values of the assets acquired and liabilities assumed at the date of acquisition (in thousands).

	At Oct 1, 2014
Current Assets	$	890
Property and Equipment		1,505
Other Long-term Assets		36
Intangible Assets		5,249
Goodwill		10,115
Total Assets Acquired		17,795
Liabilities Assumed		6,336
Net Assets Acquired	$	11,459

Acquired Intangible Assets Subject to Amortization and Values and Estimated Useful Lives

The remaining acquired intangible asset was determined to be subject to amortization with an average useful life of approximately two years. Its value and estimated useful life by asset type is as follows (dollars in thousands):

	At Oct 1, 2014
	Value Assigned		Estimated Useful Life
Curriculum	$	121	2 years

Faculdade Diferencial Integral

Estimated Fair Values of Assets Acquired and Liabilities Assumed at Date of Acquisition

The following table summarizes the fair values of the assets acquired and liabilities assumed at the date of acquisition (in thousands).

	At July 1, 2013
Current Assets	$	4,699
Property and Equipment		2,037
Other Long-term Assets		167
Intangible Assets		17,723
Goodwill		8,238
Total Assets Acquired		32,864
Liabilities Assumed		16,801
Net Assets Acquired	$	16,063

Acquired Intangible Assets Subject to Amortization and Values and Estimated Useful Lives

The remaining acquired intangible asset was determined to be subject to amortization with an average useful life of approximately 15 years. Its value and estimated useful life by asset type is as follows (dollars in thousands):

	At July 1, 2013
	Value Assigned		Estimated Useful Life
Clinical Agreement	$	583	15 years