Goodwill and Intangible Assets

12 Months Ended

Apr. 30, 2017

5. Goodwill and Intangible Assets.

"Goodwill" as of April 30, 2017 and 2016 consists of the following:

	Carrying Amount
Balance at May 1, 2015	$	348,811
Working capital adjustments		(1,338	)
Goodwill acquired during the year		38,833

Balance at April 30, 2016		386,306

Working capital adjustments		(390	)
Goodwill acquired during the year		37,728

Balance at April 30, 2017	$	423,644

The Company's definite lived intangible assets as of April 30, 2017 and 2016 consist of the following:

				April 30, 2017
		Weighted average amortization period		April 30, 2017
	Estimated useful lives (years)	Weighted average amortization period		Gross carrying amount		Accumulated amortization		Net carrying value
Customer relationships	5 - 13		10.9	$	273,196	$	111,291	$	161,905
Definite lived tradenames	5 - 20		18.3		25,250		1,718		23,532
Vendor agreement	8		—		5,644		2,176		3,468
Leasehold interests	7 - 13		8.2		2,516		496		2,020

Totals				$	306,606	$	115,681	$	190,925

				April 30, 2016
		Weighted average amortization period		April 30, 2016
	Estimated useful lives (years)	Weighted average amortization period		Gross carrying amount		Accumulated amortization		Net carrying value
Customer relationships	5 - 13		10.8	$	208,526	$	69,929	$	138,597
Definite lived tradenames	5 - 20		19.5		15,760		447		15,313
Vendor agreement	8		—		5,644		1,470		4,174
Leasehold interests	7 - 13		8.2		2,516		178		2,338

Totals				$	232,446	$	72,024	$	160,422

The Company's indefinite-lived intangible assets, other than goodwill, consist of tradenames which have a carrying amount of $61,368 as of April 30, 2017 and 2016.

Amortization expense related to intangible assets was $43,675, $37,548, and $31,957 for fiscal 2017, 2016, and 2015, respectively, and is recorded in "Depreciation and amortization" expense in the Consolidated Statements of Operations and Comprehensive Income (Loss). The estimated aggregate amortization expense for each of the five succeeding fiscal years and thereafter is expected to be as follows:

	Customer relationships		Tradenames		Vendor agreement		Leasehold interests		Total
Years ending April 30:
2018	$	37,780	$	1,503	$	706	$	318	$	40,307
2019		30,392		1,503		706		318		32,919
2020		23,809		1,503		706		318		26,336
2021		18,715		1,473		706		318		21,212
2022		14,764		1,445		644		318		17,171
Thereafter		36,445		16,105		—		430		52,980

Total	$	161,905	$	23,532	$	3,468	$	2,020	$	190,925

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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