Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.23.2
Leases (Tables)
3 Months Ended
Jul. 31, 2023
Leases [Abstract]  
Components of Lease Expense
The components of lease expense were as follows:
Three Months Ended
July 31,
2023 2022
(in thousands)
Finance lease cost
Amortization of ROU assets $ 402  $ 373 
Interest on lease liabilities 54  48 
456  421 
Operating lease cost 11,697  12,415 
Short-term lease cost 269  163 
Variable lease cost 3,191  2,655 
Lease impairment cost 1,629  — 
Sublease income (1,063) (507)
Total lease cost $ 16,179  $ 15,147 
Summary of Supplemental Cash Flow Information Related to Leases
Supplemental cash flow information related to leases was as follows:
Three Months Ended
July 31,
2023 2022
(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases $ 13,568  $ 15,513 
Financing cash flows from finance leases $ 382  $ 412 
ROU assets obtained in exchange for lease obligations:
Operating leases $ 1,219  $ 3,555 
Finance leases $ 447  $ 2,384 
Summary of Supplemental Balance Sheet Information Related to Leases
Supplemental balance sheet information related to leases was as follows:
July 31, 2023 April 30, 2023
(in thousands)
Finance Leases:
Property and equipment, at cost $ 7,674  $ 7,103 
Accumulated depreciation (3,169) (2,741)
Property and equipment, net $ 4,505  $ 4,362 
Other accrued liabilities $ 1,529  $ 1,372 
Other liabilities 3,113  3,053 
Total finance lease liabilities $ 4,642  $ 4,425 
Weighted average remaining lease terms:
Operating leases 4.3 years 4.5 years
Finance leases 3.6 years 3.8 years
Weighted average discount rate:
Operating leases 4.8  % 4.5  %
Finance leases 4.9  % 4.7  %
Summary of Maturities of Lease Liabilities
Maturities of lease liabilities were as follows:
Year Ending April 30, Operating Financing
(in thousands)
2024 (excluding the three months ended July 31, 2023) $ 38,363  $ 1,325 
2025 44,632  1,484 
2026 40,132  1,089 
2027 21,304  689 
2028 10,370  467 
Thereafter 16,211  — 
Total lease payments 171,012  5,054 
Less: imputed interest 16,389  412 
Total $ 154,623  $ 4,642