GOODWILL AND INTANGIBLE ASSETS

14 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 5: GOODWILL AND INTANGIBLE ASSETS

Changes in the carrying amount of goodwill for the two months ended June 30, 2021 are as follows:


(in 000s)
	Goodwill		Accumulated Impairment Losses		Net
Balances as of May 1, 2021	$	895,956	$	(138,297)	$	757,659

Acquisitions	166		—		166
Disposals and foreign currency changes, net	(3,304)		—		(3,304)
Impairments	—		—		—
Balances as of June 30, 2021	$	892,818	$	(138,297)	$	754,521

We test goodwill for impairment annually as of February 1, or more frequently if events occur or circumstances change which would, more likely than not, reduce the fair value of a reporting unit below its carrying value.

Components of intangible assets are as follows:


(in 000s)
	Gross Carrying Amount		Accumulated Amortization		Net
As of June 30, 2021:
Reacquired franchise rights	$	370,405	$	(182,366)	$	188,039
Customer relationships	316,547		(255,294)		61,253
Internally-developed software	160,315		(119,460)		40,855
Noncompete agreements	41,228		(35,802)		5,426
Franchise agreements	19,201		(16,108)		3,093
Purchased technology	122,700		(74,913)		47,787
Trade name	5,800		(1,160)		4,640
	$	1,036,196	$	(685,103)	$	351,093










As of April 30, 2021:
Reacquired franchise rights	$	370,112	$	(179,356)	$	190,756
Customer relationships	316,508		(251,160)		65,348
Internally-developed software	156,308		(116,126)		40,182
Noncompete agreements	41,212		(35,484)		5,728
Franchise agreements	19,201		(15,894)		3,307
Purchased technology	122,700		(72,609)		50,091
Trade name	5,800		(1,064)		4,736

	$	1,031,841	$	(671,693)	$	360,148

We made payments to acquire businesses totaling $0.8 million during the two months ended June 30, 2021. We made no payments to acquire business in the two months ended June 30, 2020. The amounts and weighted-

average lives of intangible assets acquired during the two months ended June 30, 2021, including amounts capitalized related to internally-developed software, are as follows:


(dollars in 000s)
	Amount		Weighted-Average life (in years)
Internally-developed software	$	4,051	3
Customer relationships	514		5
Reacquired franchise rights	200		7
Noncompete agreements	24		5
Total	$	4,789	3

Amortization of intangible assets for the two months ended June 30, 2021 was $13.8 million compared to $14.2 million for the two months ended June 30, 2020. Estimated amortization of intangible assets for fiscal years ending June 30, 2022, 2023, 2024, 2025 and 2026 is $72.3 million, $55.0 million, $35.6 million, $18.1 million and $12.7 million, respectively.