Goodwill and Intangible Assets

3 Months Ended

Jul. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The following table presents changes in the carrying amount of goodwill:


	Gross		Accumulated		Net
	Carrying Amount		Impairment Loss		Carrying Amount
	(in thousands)
Balance as of April 30, 2021	$	645,377	$	(69,047)	$	576,330
Goodwill recognized from acquisitions	13,057		—		13,057
Translation adjustment	(2,949)		893		(2,056)
Balance as of July 31, 2021	$	655,485	$	(68,154)	$	587,331

Intangible Assets

The following tables present the components of the Company’s definite-lived intangible assets:


	Estimated Useful Lives (years)	Weighted Average Amortization Period	July 31, 2021
			Gross Carrying Amount		Accumulated Amortization		Net Carrying Value
	(dollars in thousands)
Customer relationships	5 - 16	12.7	$	616,241	$	(342,161)	$	274,080
Definite-lived tradenames	5 - 20	15.8	72,820		(15,803)		57,017
Vendor agreements	8 - 10	8.3	6,644		(5,574)		1,070
Developed technology	5	4.9	5,608		(3,612)		1,996
Other	3 - 5	3.2	4,243		(4,126)		117
Totals			$	705,556	$	(371,276)	$	334,280


	Estimated Useful Lives (years)	Weighted Average Amortization Period	April 30, 2021
			Gross Carrying Amount		Accumulated Amortization		Net Carrying Value
	(dollars in thousands)
Customer relationships	5 - 16	13.3	$	569,255	$	(330,880)	$	238,375
Definite-lived tradenames	5 - 20	16.8	62,084		(14,842)		47,242
Vendor agreements	8 - 10	8.3	6,644		(5,372)		1,272
Developed technology	5	4.9	5,699		(3,381)		2,318
Other	3 - 5	3.3	4,291		(3,996)		295
Totals			$	647,973	$	(358,471)	$	289,502

Amortization expense related to definite-lived intangible assets was $14.8 million and $14.3 million for the three months ended July 31, 2021 and 2020, respectively.

The following table summarizes the estimated future amortization expense for definite-lived intangible assets. Actual amortization expense to be reported in future periods could differ materially from these estimates as a result of acquisitions, changes in useful lives, foreign currency exchange rate fluctuations and other relevant factors.


Year Ending April 30,	(in thousands)
2022 (remaining nine months)	$	45,822
2023	54,035
2024	44,582
2025	36,900
2026	31,037
Thereafter	121,904
Total	$	334,280

The Company’s indefinite-lived intangible assets consist of tradenames that had a carrying amount of $61.4 million as of July 31, 2021 and April 30, 2021.