Goodwill and Intangible Assets

9 Months Ended

Jan. 31, 2022

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	122,624		—		122,624
Acquisition accounting adjustments from prior period	(476)		—		(476)
Translation adjustment	(6,504)		1,968		(4,536)
Balance as of January 31, 2022	$	761,021	$	(67,079)	$	693,942

Intangible Assets

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


	Estimated Useful Lives (years)	Weighted Average Amortization Period	January 31, 2022
			Gross Carrying Amount		Accumulated Amortization		Net Carrying Value
	(dollars in thousands)
Customer relationships	5-16	12.5	$	674,835	$	(368,089)	$	306,746
Definite-lived tradenames	5-20	15.8	72,141		(18,023)		54,118
Vendor agreements	8-10	8.3	6,644		(5,976)		668
Developed technology	5	4.9	8,499		(4,151)		4,348
Other	3-5	3.8	1,278		(1,213)		65
Definite-lived intangible assets			$	763,397	$	(397,452)	$	365,945
Indefinite-lived intangible assets							114,367
Total intangible assets, net							$	480,312


	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
Definite-lived intangible assets			$	647,973	$	(358,471)	$	289,502
Indefinite-lived intangible assets							61,367
Total intangible assets, net							$	350,869

Amortization expense related to definite-lived intangible assets was $15.9 million and $14.2 million for the three months ended January 31, 2022 and 2021, respectively, and $46.4 million and $43.0 million for the nine months ended January 31, 2022 and 2021, 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 three months)	$	17,637
2023	65,218
2024	54,181
2025	45,074
2026	37,786
Thereafter	146,049
Total	$	365,945

The Company’s indefinite-lived intangible assets consist of tradenames that had a carrying amount of $114.4 million and $61.4 million as of January 31, 2022 and April 30, 2021, respectively.