Goodwill and Intangible Assets (Tables)

6 Months Ended

Dec. 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):

	December 31,		June 30,		December 31,
Reporting Unit	2020		2020		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		376,347		376,004		376,595
Total	$	686,557	$	686,214	$	686,805

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

	December 31,		June 30,		December 31,
Reportable Segment	2020		2020		2019
Medical and Healthcare	$	310,210	$	310,210	$	310,210
Financial Services		376,347		376,004		376,595
Total	$	686,557	$	686,214	$	686,805

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

	Medical and		Financial
	Healthcare		Services		Total
June 30, 2019	$	310,210	$	377,046	$	687,256
Purchase accounting adjustments		—		(92)		(92)
Foreign exchange rate changes		—		(359)		(359)
December 31, 2019		310,210		376,595		686,805
Foreign exchange rate changes		—		(591)		(591)
June 30, 2020		310,210		376,004		686,214
Foreign exchange rate changes		—		343		343
December 31, 2020	$	310,210	$	376,347	$	686,557

Schedule of Intangible Assets

Intangible assets consisted of the following (in thousands):

	December 31, 2020
	Gross Carrying		Accumulated		Weighted-Average
	Amount		Amortization		Amortization Period
Amortizable intangible assets:
Customer relationships	$	68,900	$	(24,444)	10 Years
Curriculum/software		11,600		(3,061)	6 Years
Course delivery technology		6,700		(2,122)	5 Years
Total	$	87,200	$	(29,627)
Indefinite-lived intangible assets:
Trade names	$	95,705
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	$	224,945

	June 30, 2020
	Gross Carrying		Accumulated
	Amount		Amortization
Amortizable intangible assets:
Customer relationships	$	68,900	$	(21,044)
Curriculum/software		11,600		(2,094)
Course delivery technology		7,200		(1,952)
Total	$	87,700	$	(25,090)
Indefinite-lived intangible assets:
Trade names	$	95,664
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	$	224,904

	December 31, 2019
	Gross Carrying		Accumulated
	Amount		Amortization
Amortizable intangible assets:
Customer relationships	$	68,900	$	(17,591)
Curriculum/software		11,600		(1,128)
Course delivery technology		7,200		(1,219)
Total	$	87,700	$	(19,938)
Indefinite-lived intangible assets:
Trade names	$	95,734
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	$	224,974

Summary of Indefinite-Lived Intangible Assets Balances by Reporting Segment

	December 31,		June 30,		December 31,
Reportable Segment	2020		2020		2019
Medical and Healthcare	$	137,500	$	137,500	$	137,500
Financial Services		87,445		87,404		87,474
Total	$	224,945	$	224,904	$	224,974

Estimated Amortization Expense for Amortized Intangible Assets

Estimated intangible asset amortization expense is as follows (in thousands):

	Financial
Fiscal Year	Services
2021 (remaining)	$	5,036
2022		9,943
2023		9,792
2024		9,509
2025		7,933
Thereafter		15,360
Total	$	57,573