INTANGIBLE ASSETS (Tables)

12 Months Ended

Jun. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]

Intangible assets consist of the following (in thousands):

	As of June 30, 2016
	Gross Carrying Amount		Accumulated Amortization		Weighted Average Amortization Period
Amortizable Intangible Assets:
Student Relationships	$	14,530	$	(7,150)	(a)
Customer Relationships		400		(170)	10 Years
Non-compete Agreements		940		(799)	5 Years
Curriculum/Software		4,038		(1,914)	5 Years
Franchise Contracts		10,968		(863)	18 Years
Clinical Agreements		406		(81)	15 Years
Trade Names		1,183		(858)	10 Years
Total	$	32,465	$	(11,835)
Indefinite-lived Intangible Assets:
Trade Names	$	70,731
Trademarks		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		20,200
AUC Title IV Eligibility and Accreditations		100,000
DeVry Brasil Accreditation		100,410
Total	$	322,226

(a) The total weighted average estimated amortization period for Student Relationships is 6 years for Faculdade Boa Viagem ("FBV"), 5 years for Centro Universitario Vale do Ipojuca ("UniFavip"), 6 years for Damasio and 5 years for Grupo Ibmec.

 

	As of June 30, 2015
	Gross Carrying Amount		Accumulated Amortization
Amortizable Intangible Assets:
Student Relationships	$	83,036	$	(78,906)
Customer Relationships		400		(130)
Test Prep Relationships		1,029		(429)
Non-compete Agreements		2,290		(1,961)
Curriculum/Software		3,092		(2,615)
Outplacement Relationships		3,900		(1,764)
Franchise Contracts		11,287		(261)
Clinical Agreements		418		0
Trade Names		5,007		(4,550)
Total	$	110,459	$	(90,616)
Indefinite-lived Intangible Assets:
Trade Names	$	48,134
Trademarks		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		57,669
Total	$	303,888

Estimated Amortization Expense for Amortized Intangible Assets

Estimated amortization expense for amortizable intangible assets by reporting unit for the next five fiscal years ending June 30, and in the aggregate, is as follows (in thousands). These amounts do not include future amortization related to the July 1, 2016, acquisition of Association of Certified Anti-Money Laundering Specialists (“ACAMS”) (See “Note 17: Subsequent Event”).

 

Fiscal Year	DeVry Brasil		Becker		Total
2017	$	4,769	$	312	$	5,081
2018		3,326		40		3,366
2019		2,290		40		2,330
2020		1,550		40		1,590
2021		945		40		985
Thereafter		7,248		30		7,278

Changes in Carrying Amount of Goodwill, by Segment

The table below summarizes goodwill balances by reporting unit as of June 30, 2016 (in thousands):

Reporting Unit	As of June 30, 2016
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
DeVry Brasil		223,558
Becker Professional Education		32,043
DeVry University		22,196
Total	$	588,007

The table below summarizes goodwill balances by reporting segment as of June 30, 2016 (in thousands):

Reporting Segment:	As of June 30, 2016
Medical and Healthcare	$	310,210
International and Professional Education		255,601
Business, Technology and Management		22,196
Total	$	588,007

The table below summarizes the changes in the carrying amount of goodwill, by segment as of June 30, 2016 (in thousands):

	Medical and Healthcare				International		Business,
			Accumulated		and		Technology
			Impairment		Professional		and
	Gross		Losses		Education		Management		Total
Balance at June 30, 2013	$	495,927	$	(86,933)	$	77,747	$	22,196	$	508,937
Acquisitions		-		-		9,675		-		9,675
Foreign currency exchange rate changes		-		-		1,267		-		1,267
Balance at June 30, 2014		495,927		(86,933)		88,689		22,196		519,879
Acquisitions		-		-		55,915		-		55,915
Foreign currency exchange rate changes		-		-		(23,465)		-		(23,465)
Balance at June 30, 2015		495,927		(86,933)		121,139		22,196		552,329
Purchase Accounting Adjustment		-		-		4,575		-		4,575
Acquisitions		-		-		116,007		-		116,007
Impairments		-		(98,784)		-		-		(98,784)
Foreign currency exchange rate changes		-		-		13,880		-		13,880
Balance at June 30, 2016	$	495,927	$	(185,717)	$	255,601	$	22,196	$	588,007

Summary of Indefinite-Lived Intangible Assets Balances by Reporting Segment

The table below summarizes the indefinite-lived intangible asset balances by reporting segment as of June 30, 2016 (in thousands):

Reporting Segment	As of June 30, 2016
Medical and Healthcare	$	157,700
International and Professional Educational		162,881
Business, Technology and Management		1,645
Total	$	322,226