Goodwill and Intangible Assets (Tables)

3 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Goodwill

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

	September 30,		June 30,		September 30,
Reporting Unit	2022		2022		2021
Chamberlain	$	4,716	$	4,716	$	4,716
Walden		651,052		651,052		642,554
AUC		68,321		68,321		68,321
RUSM and RUSVM		237,173		237,173		237,173
Total	$	961,262	$	961,262	$	952,764

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

	September 30,		June 30,		September 30,
	2022		2022		2021
Chamberlain	$	4,716	$	4,716	$	4,716
Walden		651,052		651,052		642,554
Medical and Veterinary		305,494		305,494		305,494
Total	$	961,262	$	961,262	$	952,764

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

					Medical and
	Chamberlain		Walden		Veterinary		Total
June 30, 2021	$	4,716	$	—	$	305,494	$	310,210
Acquisition		—		642,554		—		642,554
September 30, 2021		4,716		642,554		305,494		952,764
Purchase accounting adjustments		—		8,498		—		8,498
June 30, 2022		4,716		651,052		305,494		961,262
September 30, 2022	$	4,716	$	651,052	$	305,494	$	961,262

Summary of Amortizable Intangible Assets

Amortizable intangible assets consisted of the following (in thousands):

	September 30, 2022				June 30, 2022				September 30, 2021
	Gross Carrying		Accumulated		Gross Carrying		Accumulated		Gross Carrying		Accumulated		Weighted-Average
	Amount		Amortization		Amount		Amortization		Amount		Amortization		Amortization Period
Student relationships	$	161,900	$	(103,180)	$	161,900	$	(87,457)	$	161,900	$	(15,049)	3 Years
Curriculum		56,091		(12,622)		56,091		(9,817)		56,091		(1,402)	5 Years
Total	$	217,991	$	(115,802)	$	217,991	$	(97,274)	$	217,991	$	(16,451)

Summary of Indefinite-Lived Intangible Assets

Indefinite-lived intangible assets consisted of the following (in thousands):

	September 30,		June 30,		September 30,
	2022		2022		2021
Walden trade name	$	119,560	$	119,560	$	119,560
AUC trade name		17,100		17,100		17,100
Ross trade name		5,100		5,100		5,100
Chamberlain Title IV eligibility and accreditations		1,200		1,200		1,200
Walden Title IV eligibility and accreditations		495,800		495,800		495,800
AUC Title IV eligibility and accreditations		100,000		100,000		100,000
Ross Title IV eligibility and accreditations		14,100		14,100		14,100
Total	$	752,860	$	752,860	$	752,860

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

	September 30,		June 30,		September 30,
	2022		2022		2021
Chamberlain	$	1,200	$	1,200	$	1,200
Walden		615,360		615,360		615,360
Medical and Veterinary		136,300		136,300		136,300
Total	$	752,860	$	752,860	$	752,860

Estimated Amortization Expense for Amortized Intangible Assets

Future intangible asset amortization expense, by reporting unit, is expected to be as follows (in thousands):

Fiscal Year	Walden
2023 (remaining)	$	42,711
2024		35,644
2025		11,220
2026		11,220
2027		1,394
Total	$	102,189