Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.21.2
Leases (Tables)
3 Months Ended
Jul. 31, 2021
Leases [Abstract]  
Components of Lease Expense

The components of lease expense were as follows:

 

 

 

Three Months Ended

July 31,

 

 

 

2021

 

 

2020

 

 

 

(in thousands)

 

Finance lease cost

 

 

 

 

 

 

 

 

Amortization of ROU assets

 

$

280

 

 

$

338

 

Interest on lease liabilities

 

 

24

 

 

 

31

 

 

 

 

304

 

 

 

369

 

Operating lease cost

 

 

13,818

 

 

 

13,983

 

Short-term lease cost

 

 

269

 

 

 

108

 

Variable lease cost

 

 

1,668

 

 

 

2,407

 

Sublease income

 

 

(231

)

 

 

(80

)

  Total lease cost

 

$

15,828

 

 

$

16,787

 

Summary of Supplemental Cash Flow Information Related to Leases

 

Supplemental cash flow information related to leases was as follows:

 

 

 

Three Months Ended

July 31,

 

 

 

2021

 

 

2020

 

 

 

(in thousands)

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

14,771

 

 

$

15,000

 

Financing cash flows from finance leases

 

$

289

 

 

$

331

 

 

 

 

 

 

 

 

 

 

ROU assets obtained in exchange for lease obligations:

 

 

 

 

 

 

 

 

Operating leases

 

$

1,238

 

 

$

1,901

 

Finance leases

 

$

306

 

 

$

435

 

Summary of Supplemental Balance Sheet Information Related to Leases

 

Supplemental balance sheet information related to leases was as follows:

 

 

 

July 31, 2021

 

 

April 30, 2021

 

 

 

(in thousands)

 

Finance Leases:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property and equipment, at cost

 

$

5,015

 

 

$

4,801

 

Accumulated depreciation

 

 

(2,759

)

 

 

(2,590

)

Property and equipment, net

 

$

2,256

 

 

$

2,211

 

 

 

 

 

 

 

 

 

 

Other accrued liabilities

 

$

1,051

 

 

$

1,010

 

Other liabilities

 

 

1,319

 

 

 

1,301

 

Total finance lease liabilities

 

$

2,370

 

 

$

2,311

 

 

 

 

 

 

 

 

 

 

Weighted average remaining lease terms:

 

 

 

 

 

 

 

 

Operating leases

 

4.8 years

 

 

5.0 years

 

Finance leases

 

2.7 years

 

 

2.7 years

 

 

 

 

 

 

 

 

 

 

Weighted average discount rate:

 

 

 

 

 

 

 

 

Operating leases

 

 

4.8

%

 

 

4.8

%

Finance leases

 

 

3.9

%

 

 

4.2

%

Summary of Maturities of Lease Liabilities

 

 

Maturities of lease liabilities were as follows:

 

Year Ending April 30,

 

Operating

 

 

Financing

 

 

 

(in thousands)

 

2022 (excluding the three months ended July 31, 2021)

 

$

42,735

 

 

$

871

 

2023

 

 

47,840

 

 

 

876

 

2024

 

 

40,828

 

 

 

528

 

2025

 

 

34,087

 

 

 

202

 

2026

 

 

28,752

 

 

 

10

 

Thereafter

 

 

20,265

 

 

 

 

Total lease payments

 

 

214,507

 

 

 

2,487

 

Less: imputed interest

 

 

23,735

 

 

 

117

 

Total

 

$

190,772

 

 

$

2,370