Goodwill and Intangible Assets (Tables)

9 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in Carrying Amount of Goodwill

The table below summarizes goodwill balances by reporting unit (in thousands):

	March 31,		June 30,		March 31,
Reporting Unit	2020		2019		2019
Chamberlain	$	4,716	$	4,716	$	4,716
AUC		68,321		68,321		68,321
RUSM and RUSVM		237,173		237,173		237,173
Financial Services		376,025		377,046		317,475
Total	$	686,235	$	687,256	$	627,685

The table below summarizes goodwill balances by reportable segment (in thousands):

	March 31,		June 30,		March 31,
Reportable Segment	2020		2019		2019
Medical and Healthcare	$	310,210	$	310,210	$	310,210
Financial Services		376,025		377,046		317,475
Total	$	686,235	$	687,256	$	627,685

The table below summarizes the changes in goodwill balances by reportable segment (in thousands):

	Medical and		Financial
	Healthcare		Services		Total
June 30, 2018	$	310,210	$	317,699	$	627,909
Foreign exchange rate changes		—		(224)		(224)
March 31, 2019		310,210		317,475		627,685
Acquisitions		—		59,519		59,519
Foreign exchange rate changes		—		52		52
June 30, 2019		310,210		377,046		687,256
Purchase accounting adjustments		—		(92)		(92)
Foreign exchange rate changes		—		(929)		(929)
March 31, 2020	$	310,210	$	376,025	$	686,235

Schedule of Intangible Assets

Intangible assets consist of the following (in thousands):

	March 31, 2020
	Gross				Weighted-Average
	Carrying		Accumulated		Amortization
	Amount		Amortization		Period
Amortizable intangible assets:
Customer relationships	$	68,900	$	(19,318)	10 Years
Curriculum/software		11,600		(1,611)	6 Years
Course delivery technology		7,200		(1,585)	5 Years
Total	$	87,700	$	(22,514)
Indefinite-lived intangible assets:
Trade names	$	95,666
Chamberlain Title IV eligibility and accreditations		1,200
AUC Title IV eligibility and accreditations		100,000
Ross Title IV eligibility and accreditations		14,100
Intellectual property		13,940
Total	$	224,906

	June 30, 2019
	Gross
	Carrying		Accumulated
	Amount		Amortization
Amortizable intangible assets:
Customer relationships	$	69,300	$	(14,448)
Curriculum/software		16,600		(5,193)
Course delivery technology		7,200		(487)
Total	$	93,100	$	(20,128)
Indefinite-lived intangible assets:
Trade names	$	95,777
Chamberlain Title IV eligibility and accreditations		1,200
AUC Title IV eligibility and accreditations		100,000
Ross Title IV eligibility and accreditations		14,100
Intellectual property		13,940
Total	$	225,017

	March 31, 2019
	Gross
	Carrying		Accumulated
	Amount		Amortization
Amortizable intangible assets:
Customer relationships	$	42,900	$	(13,071)
Curriculum/software		5,000		(4,583)
Course delivery technology		500		(344)
Total	$	48,400	$	(17,998)
Indefinite-lived intangible assets:
Trade names	$	77,371
Chamberlain Title IV eligibility and accreditations		1,200
AUC Title IV eligibility and accreditations		100,000
Ross Title IV eligibility and accreditations		14,100
Intellectual property		13,940
Total	$	206,611

Summary of Indefinite-Lived Intangible Assets Balances by Reporting Segment

The table below summarizes the indefinite-lived intangible asset balances by reportable segment (in thousands):

	March 31,		June 30,		March 31,
Reportable Segment	2020		2019		2019
Medical and Healthcare	$	137,500	$	137,500	$	137,500
Financial Services		87,406		87,517		69,111
Total	$	224,906	$	225,017	$	206,611

Estimated Amortization Expense for Amortized Intangible Assets

Estimated amortization expense for amortizable intangible assets for the next five fiscal years ending June 30 and in the aggregate, by reporting unit, is as follows (in thousands):

	Financial
Fiscal Year	Services
2020 (remaining)	$	2,576
2021		10,073
2022		9,944
2023		9,792
2024		9,509
Thereafter		23,292
Total	$	65,186