Note 4 - Intangible Assets

6 Months Ended

Jul. 31, 2026

Notes to Financial Statements

Intangible Asset and Goodwill [Text Block]

(4) Intangible Assets

Intangible assets consisted of the following (in thousands, except for remaining life):

		*July 31, 2026*																*January 31, 2026*
		*Weighted Average Remaining Life (in years)*				*Gross Carrying Amount*				*Accumulated Amortization*				*Net Carrying Amount*				*Weighted Average Remaining Life (in years)*				*Gross Carrying Amount*				*Accumulated Amortization*				*Net Carrying Amount*
Developed software/courseware			2.6			$	387,928			$	346,798			$	41,130				1.9			$	381,712			$	314,716			$	66,996
Customer contracts/relationships			7.3				234,600				131,997				102,603				7.5				234,600				117,832				116,768
Trademarks and trade names			9.4				44,000				13,076				30,924				10.3				44,000				11,217				32,783
Publishing rights			0.0				—				—				—				0.4				41,100				38,109				2,991
Skillsoft trademark			Indefinite				65,600				—				65,600				Indefinite				65,600				—				65,600
Total intangible assets						$	732,128			$	491,871			$	240,257							$	767,012			$	481,874			$	285,138

Amortization expense related to our existing finite-lived intangible assets is expected to be as follows (in thousands) for the fiscal years ended January 31:

		*Amortization Expense*
2027 (six months remaining)		$	29,117
2028			40,703
2029			29,715
2030			22,692
2031			17,309
Thereafter			35,121
Total future amortization		$	174,657

Amortization expense related to intangible assets in the aggregate was $21.5 million and $51.1 million for the three and six months ended July 31, 2026, respectively. Amortization expense related to intangible assets in the aggregate was $29.9 million and $60.0 million for three and six months ended July 31, 2025, respectively.

Our goodwill as of the dates indicated is as follows (in thousands):

														*Impairment*
														*For the Three*
		*As of July 31, 2026*												*Months Ended*				*As of January 31, 2026*
		*Gross*				*Accumulated*				*Net*				*July 31,*				*Gross*				*Accumulated*				*Net*
		*Goodwill*				*Impairment*				*Goodwill*				*2026*				*Goodwill*				*Impairment*				*Goodwill*
Goodwill		$	986,055			$	(698,405	)		$	287,650			$	—			$	986,055			$	(698,405	)		$	287,650

Intangible Asset Impairment Review Requirements and Assumption Uncertainty

Refer to Note 4 “Intangible Assets” to the 2026 AFS for information regarding impairment review requirements and assumption uncertainty. This process was completed for the three and six months ended July 31, 2026, and we considered both adverse and mitigating relevant market-based inputs and factors. Based on the totality of the information considered, we concluded that it was not more likely than not that the fair values of the goodwill, intangible, and long-lived assets of our continuing operations were less than their carrying values and that no triggering event had occurred requiring a quantitative impairment assessment. Accordingly, no impairment charges related to these assets of our continuing operations were recognized during the three and six months ended July 31, 2026. For information regarding goodwill, intangible assets and long-lived asset impairments associated with our discontinued operations (our former GK reporting unit), see Note 3, "Discontinued Operations".