Goodwill and Intangible Assets

12 Months Ended

Apr. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in the carrying value of goodwill by reportable segment were as follows:


	Consulting		Digital		Executive Search						Professional Search & Interim		RPO		Consolidated
					North America		EMEA		Asia Pacific

	(in thousands)
Balance as of May 1, 2022	$	172,970	$	325,354	$	47,564	$	46,572	$	972	$	69,856	$	62,304	$	725,592
Additions (1)	—		—		—		—		—		184,519		—		184,519
Exchange rate fluctuations	123		204		(1,327)		(171)		—		291		260		(620)
Balance as of April 30, 2023	173,093		325,558		46,237		46,401		972		254,666		62,564		909,491

Exchange rate fluctuations	(99)		(171)		(83)		(155)		—		(321)		(286)		(1,115)
Balance as of April 30, 2024	$	172,994	$	325,387	$	46,154	$	46,246	$	972	$	254,345	$	62,278	$	908,376

_______________________________

(1)Additions to goodwill in fiscal 2023 were due to $68.3 million and $116.2 million from the acquisitions of Infinity Consulting Solutions ("ICS") and Salo LLC ("Salo"), respectively.

Tax deductible goodwill from acquisitions were as follows:


	April 30,
	2024		2023

	(in thousands)
PIVOT Leadership	$	4,497	$	5,182
Miller Heiman	14,852		16,266
ICS	60,339		64,893
Salo	106,526		114,274
Total tax deductible goodwill from acquisitions	$	186,214	$	200,615

Intangible assets include the following:


	April 30, 2024						April 30, 2023

	(in thousands)
Amortized intangible assets:	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
Customer lists	$	192,099	$	(121,977)	$	70,122	$	192,099	$	(104,429)	$	87,670
Intellectual property	69,100		(52,804)		16,296		69,100		(47,187)		21,913
Trademarks	12,086		(9,549)		2,537		12,086		(7,123)		4,963
Proprietary databases	4,256		(4,256)		—		4,256		(4,256)		—
Non-compete agreements	910		(910)		—		910		(910)		—
Total (1)	$	278,451	$	(189,496)	88,955		$	278,451	$	(163,905)	114,546
Exchange rate fluctuations					(122)						(120)
Total Intangible assets					$	88,833					$	114,426

_______________________________

(1)In fiscal 2024 there were no intangible assets additions. In fiscal 2023 there were intangible assets additions of $16.4 million and $32.0 million from the acquisitions of ICS and Salo, respectively.

Acquisition-related intangible assets acquired in fiscal 2023 consists of customer relationships and tradenames of $45.3 million and $3.1 million, respectively, with weighted-average useful lives from the date of purchase of seven years and two years, respectively.

Amortization expense for amortized intangible assets was $25.6 million, $23.7 million and $20.3 million during fiscal 2024, 2023 and 2022, respectively. Estimated annual amortization expense related to amortizing intangible assets is as follows:


Year Ending April 30,	Estimated Annual Amortization Expense
	(in thousands)
2025	$	24,262
2026	22,859
2027	17,106
2028	10,080
2029	9,276
Thereafter	5,250
	$	88,833

All amortizable intangible assets will be fully amortized by the end of fiscal 2032.