INTANGIBLE ASSETS (Tables)

9 Months Ended

Mar. 31, 2015

Intangible assets consist of the following (in thousands):

	As of March 31, 2015
	Gross Carrying Amount		Accumulated Amortization		Weighted Avg. Amortization Period
Amortizable Intangible Assets:
Student Relationships	$	82,754	$	(77,946)	(a)
Customer Relationships		3,294		(1,245)	12 Years
Test Prep Relationships		1,006		(168)	1 Year
Non-compete Agreements		2,467		(2,091)	5 Years
Curriculum/Software		3,026		(2,381)	(b)
Outplacement Relationships		3,900		(1,699)	15 Years
Franchise Contracts		11,032		(102)	18 Years
Clinical Agreements		409		(48)	15 Years
Trade Names		5,092		(4,616)	8.5Years
Total	$	112,979	$	(90,294)
Indefinite-lived Intangible Assets:
Trade Names	$	47,864
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		56,367
Total	$	302,315

(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"), 4 years for AUC, and 6 years for Damasio.

(b)

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

	As of March 31, 2014
	Gross Carrying Amount		Accumulated Amortization
Amortizable Intangible Assets:
Student Relationships	$	81,460	$	(78,401)
Customer Relationships		3,650		(1,019)
Non-compete Agreements		2,522		(1,958)
Curriculum/Software		5,674		(4,693)
Outplacement Relationships		3,900		(1,439)
Clinical Agreements		576		(29)
Trade Names		5,808		(4,968)
Total	$	103,590	$	(92,507)

Indefinite-lived Intangible Assets:
Trade Names	$	40,826
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		44,503
Total	$	283,414

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	$	883	$	2,314	$	260	$	3,844
2016		-		851		3,213		260		4,324
2017		-		601		1,621		260		2,481
2018		-		329		1,312		260		1,901
2019		-		329		1,165		260		1,754
Thereafter		-		649		8,968		1,096		10,713

Summary of Goodwill Balances by Reporting Unit

The table below summarizes goodwill balances by reporting unit as of March 31, 2015 (in thousands):

Reporting Unit	As of March 31, 2015
American University of the Caribbean School of Medicine	$	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		97,687
Becker Professional Education		32,529
DeVry University		22,196
Total	$	561,406

Summary of Goodwill Balances by Reporting Segment

The table below summarizes goodwill balances by reporting segment as of March 31, 2015 (in thousands):

Reporting Segment:	As of March 31, 2015
Medical and Healthcare	$	408,994
Business, Technology and Management		22,196
International and Professional Education		130,216
Total	$	561,406

Changes in Carrying Amount of Goodwill, by Segment

The table below summarizes the changes in the carrying amount of goodwill, by segment as of March 31, 2015 (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		-		-		67,264		67,264
Foreign currency exchange rate changes		-		-		(25,737)		(25,737)
Balance at March 31, 2015	$	408,994	$	22,196	$	130,216	$	561,406

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 March 31, 2015 (dollars in thousands):

	As of March 31, 2015
Reporting Segment
Medical and Healthcare	$	204,700
International and Professional Educational		95,970
Business, Technology and Management		1,645
Total	$	302,315