| Schedule of Goodwill |
The following table summarizes the activity in goodwill by segment as of April 30: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Research | | Learning | | Total excluding Held for Sale or Sold segment | | Held for Sale or Sold(1) | | Total including Held for Sale or Sold segment | Balance at April 30, 2023 | $ | 609,729 | | | $ | 486,025 | | | $ | 1,095,754 | | | $ | 108,296 | | | $ | 1,204,050 | | | Impairment | — | | | — | | | — | | | (108,449) | | | (108,449) | | | Foreign Translation Adjustment | (2,440) | | | (1,946) | | | (4,386) | | | 153 | | | (4,233) | | | Balance at April 30, 2024 | 607,289 | | | 484,079 | | | 1,091,368 | | | — | | | 1,091,368 | | Acquisition(2) | — | | | 1,026 | | | 1,026 | | | — | | | 1,026 | | | Foreign Translation Adjustment | 32,145 | | | (3,034) | | | 29,111 | | | — | | | 29,111 | | Balance at April 30, 2025 | $ | 639,434 | | | $ | 482,071 | | | $ | 1,121,505 | | | $ | — | | | $ | 1,121,505 | |
| | | | | | (1) | The Held for Sale or Sold goodwill balance as of April 30, 2024 includes accumulated pretax noncash goodwill impairments of $318.2 million which reduced the goodwill of all reporting units within the Held for Sale or Sold segment to zero. | (2) | Refer to Note 4, “Acquisitions and Divestitures,” for more information related to the acquisition that occurred in the year ended April 30, 2025. |
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| Schedule of Intangible Assets, Net |
Intangible assets, net as of April 30 were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2025 | | 2024 | | Cost | | Accumulated
Amortization | | Net | | Cost | | Accumulated
Amortization | | Net | Intangible assets with definite lives, net(1): | | | | | | | | | | | | | Content and publishing rights | $ | 1,080,115 | | | $ | (662,133) | | | $ | 417,982 | | | $ | 1,087,601 | | | $ | (656,342) | | | $ | 431,259 | | | Customer relationships | 131,037 | | | (95,996) | | | 35,041 | | | 125,521 | | | (85,812) | | | 39,709 | | Developed technology(2) | 41,195 | | | (28,789) | | | 12,406 | | | 44,880 | | | (25,358) | | | 19,522 | | | Brands and trademarks | 30,538 | | | (25,484) | | | 5,054 | | | 31,448 | | | (25,714) | | | 5,734 | | | Covenants not to compete | 1,157 | | | (1,148) | | | 9 | | | 1,157 | | | (1,123) | | | 34 | | | Total intangible assets with definite lives, net | 1,284,042 | | | (813,550) | | | 470,492 | | | 1,290,607 | | | (794,349) | | | 496,258 | | | Intangible assets with indefinite lives: | | | | | | | | | | | | Brands and trademarks(2) | 37,000 | | | — | | | 37,000 | | | 37,000 | | | — | | | 37,000 | | | Publishing rights | 87,552 | | | — | | | 87,552 | | | 82,436 | | | — | | | 82,436 | | | Total intangible assets with indefinite lives | 124,552 | | | — | | | 124,552 | | | 119,436 | | | — | | | 119,436 | | | Total intangible assets, net | $ | 1,408,594 | | | $ | (813,550) | | | $ | 595,044 | | | $ | 1,410,043 | | | $ | (794,349) | | | $ | 615,694 | |
| | | | | | (1) | Refer to Note 4, “Acquisitions and Divestitures,” for more information related to the acquisition that occurred in the year ended April 30, 2025. | (2) | The developed technology balance as of April 30, 2025 and 2024 is presented net of accumulated impairments and write-offs of $2.8 million. The indefinite-lived brands and trademarks balance as of April 30, 2025 and 2024 is net of accumulated impairments of $93.1 million. |
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| Schedule of Finite-Lived Intangible Assets, Future Amortization Expense |
Based on the current amount of intangible assets subject to amortization and assuming current foreign exchange rates, the estimated amortization expense for the following years are as follows: | | | | | | | Fiscal Year | Amount | | 2026 | $ | 51,561 | | | 2027 | 46,767 | | | 2028 | 40,844 | | | 2029 | 36,326 | | | 2030 | 32,523 | | | Thereafter | 262,471 | | | Total | $ | 470,492 | |
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