Leases

12 Months Ended

Apr. 30, 2021

Lessee Disclosure [Abstract]

Leases

Leases

The components of lease expense were as follows:

	Year Ended April 30,
	2021		2020
	(in thousands)
Finance lease cost:
Amortization of right-of-use assets	$	23,769	$	24,352
Interest on lease liabilities	11,164		13,316
Operating lease cost	42,383		42,846
Variable lease cost	12,914		12,555
Total lease cost	$	90,230	$	93,069

Operating lease cost, including variable lease cost, is included in selling, general and administrative expenses; amortization of finance ROU assets is included in depreciation and amortization; and interest on finance lease liabilities is included in interest expense in the Consolidated Statements of Operations and Comprehensive Income (Loss). Rent expense under operating leases was $53.5 million during the year ended April 30, 2019, and is included in selling, general and administrative expenses in the Consolidated Statements of Operations and Comprehensive Income (Loss).

Supplemental cash flow information related to leases was as follows:

	Year Ended April 30,
	2021		2020
	(in thousands)
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	42,876	$	42,150
Operating cash flows from finance leases	11,164		13,316
Financing cash flows from finance leases	30,371		25,275
Right-of-use assets obtained in exchange for lease obligations
Operating leases	37,513		38,143
Finance leases	27,400		50,484

Other information related to leases was as follows:

	April 30,
	2021			2020
	(in thousands)
Finance leases included in property and equipment
Property and equipment	$	176,591		$	171,380
Accumulated depreciation	(51,869)			(41,737)
Property and equipment, net	$	124,722		$	129,643
Weighted-average remaining lease term (years)
Operating leases	4.7			4.9
Finance leases	3.5			3.6
Weighted-average discount rate
Operating leases	5.5		%	5.5		%
Finance leases	4.6		%	5.0		%

Future minimum lease payments under non-cancellable leases as of April 30, 2021 were as follows:

	Finance		Operating
Year Ending April 30,	(in thousands)
2022	$	44,209	$	39,474
2023	35,538		32,704
2024	26,259		26,764
2025	15,266		18,455
2026	7,627		8,707
Thereafter	3,051		15,197
Total lease payments	131,950		141,301
Less imputed interest	14,002		17,537
Total	$	117,948	$	123,764

Leases

Leases

The components of lease expense were as follows:

	Year Ended April 30,
	2021		2020
	(in thousands)
Finance lease cost:
Amortization of right-of-use assets	$	23,769	$	24,352
Interest on lease liabilities	11,164		13,316
Operating lease cost	42,383		42,846
Variable lease cost	12,914		12,555
Total lease cost	$	90,230	$	93,069

Operating lease cost, including variable lease cost, is included in selling, general and administrative expenses; amortization of finance ROU assets is included in depreciation and amortization; and interest on finance lease liabilities is included in interest expense in the Consolidated Statements of Operations and Comprehensive Income (Loss). Rent expense under operating leases was $53.5 million during the year ended April 30, 2019, and is included in selling, general and administrative expenses in the Consolidated Statements of Operations and Comprehensive Income (Loss).

Supplemental cash flow information related to leases was as follows:

	Year Ended April 30,
	2021		2020
	(in thousands)
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	42,876	$	42,150
Operating cash flows from finance leases	11,164		13,316
Financing cash flows from finance leases	30,371		25,275
Right-of-use assets obtained in exchange for lease obligations
Operating leases	37,513		38,143
Finance leases	27,400		50,484

Other information related to leases was as follows:

	April 30,
	2021			2020
	(in thousands)
Finance leases included in property and equipment
Property and equipment	$	176,591		$	171,380
Accumulated depreciation	(51,869)			(41,737)
Property and equipment, net	$	124,722		$	129,643
Weighted-average remaining lease term (years)
Operating leases	4.7			4.9
Finance leases	3.5			3.6
Weighted-average discount rate
Operating leases	5.5		%	5.5		%
Finance leases	4.6		%	5.0		%

Future minimum lease payments under non-cancellable leases as of April 30, 2021 were as follows:

	Finance		Operating
Year Ending April 30,	(in thousands)
2022	$	44,209	$	39,474
2023	35,538		32,704
2024	26,259		26,764
2025	15,266		18,455
2026	7,627		8,707
Thereafter	3,051		15,197
Total lease payments	131,950		141,301
Less imputed interest	14,002		17,537
Total	$	117,948	$	123,764