Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.22.2.2
Leases (Tables)
3 Months Ended
Jul. 31, 2022
Leases [Abstract]  
Components of Lease Expense

The components of lease expense were as follows:

 

 

 

Three Months Ended

July 31,

 

 

 

2022

 

 

2021

 

 

 

(in thousands)

 

Finance lease cost

 

 

 

 

 

 

 

 

Amortization of ROU assets

 

$

373

 

 

$

280

 

Interest on lease liabilities

 

 

48

 

 

 

24

 

 

 

 

421

 

 

 

304

 

Operating lease cost

 

 

12,415

 

 

 

13,818

 

Short-term lease cost

 

 

163

 

 

 

269

 

Variable lease cost

 

 

2,655

 

 

 

1,668

 

Sublease income

 

 

(507

)

 

 

(231

)

  Total lease cost

 

$

15,147

 

 

$

15,828

 

Summary of Supplemental Cash Flow Information Related to Leases

 

Supplemental cash flow information related to leases was as follows:

 

 

 

Three Months Ended

July 31,

 

 

 

2022

 

 

2021

 

 

 

(in thousands)

 

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

 

 

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

15,513

 

 

$

14,771

 

Financing cash flows from finance leases

 

$

412

 

 

$

289

 

 

 

 

 

 

 

 

 

 

ROU assets obtained in exchange for lease obligations:

 

 

 

 

 

 

 

 

Operating leases

 

$

3,555

 

 

$

1,238

 

Finance leases

 

$

2,384

 

 

$

306

 

Summary of Supplemental Balance Sheet Information Related to Leases

 

Supplemental balance sheet information related to leases was as follows:

 

 

 

July 31, 2022

 

 

April 30, 2022

 

 

 

(in thousands)

 

Finance Leases:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property and equipment, at cost

 

$

7,254

 

 

$

5,770

 

Accumulated depreciation

 

 

(2,708

)

 

 

(3,085

)

Property and equipment, net

 

$

4,546

 

 

$

2,685

 

 

 

 

 

 

 

 

 

 

Other accrued liabilities

 

$

1,328

 

 

$

1,049

 

Other liabilities

 

 

3,250

 

 

 

1,657

 

Total finance lease liabilities

 

$

4,578

 

 

$

2,706

 

 

 

 

 

 

 

 

 

 

Weighted average remaining lease terms:

 

 

 

 

 

 

 

 

Operating leases

 

4.9 years

 

 

5.1 years

 

Finance leases

 

4.3 years

 

 

3.3 years

 

 

 

 

 

 

 

 

 

 

Weighted average discount rate:

 

 

 

 

 

 

 

 

Operating leases

 

 

4.4

%

 

 

4.3

%

Finance leases

 

 

4.3

%

 

 

3.2

%

Summary of Maturities of Lease Liabilities

 

 

Maturities of lease liabilities were as follows:

 

Year Ending April 30,

 

Operating

 

 

Financing

 

 

 

(in thousands)

 

2023 (excluding the three months ended July 31, 2022)

 

$

40,153

 

 

$

1,151

 

2024

 

 

47,870

 

 

 

1,245

 

2025

 

 

40,610

 

 

 

1,001

 

2026

 

 

37,324

 

 

 

716

 

2027

 

 

17,940

 

 

 

522

 

Thereafter

 

 

24,736

 

 

 

388

 

Total lease payments

 

 

208,633

 

 

 

5,023

 

Less: imputed interest

 

 

21,322

 

 

 

445

 

Total

 

$

187,311

 

 

$

4,578