The Company’s lease portfolio is comprised of operating leases for office space and equipment and finance leases for equipment. Equipment leases are comprised of vehicles and office equipment. The majority of the Company’s leases include both lease and non-lease components. Non-lease components primarily include maintenance, insurance, taxes and other utilities. The Company combines fixed payments for non-lease components with its lease payments and account for them as a single lease component, which increases its ROU assets and lease liabilities. Some of the leases include one or more options to renew or terminate the lease at the Company’s discretion. Generally, the renewal and termination options are not included in the ROU assets and lease liabilities as they are not reasonably certain of exercise. The Company has elected not to recognize a ROU asset or lease liability for leases with an initial term of 12 months or less.

As most of the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of the future minimum lease payments. The Company applies the portfolio approach when determining the incremental borrowing rate since it has a centrally managed treasury function. The Company’s incremental borrowing rate is estimated to approximate the interest rate on a collateralized basis with similar terms and payments in a similar economic environment.

Operating leases contain both office and equipment leases, have remaining terms that range from less than one year to 11 years, some of which also include options to extend or terminate the lease. Finance leases are comprised of equipment leases and have remaining terms that range from less than one year to five years. Finance lease assets are included in property and equipment, net while finance lease liabilities are included in other accrued liabilities and other liabilities.

	Three Months Ended January 31,						Nine Months Ended January 31,
	2021			2020			2021			2020
	(in thousands)
Finance lease cost
Amortization of ROU assets	$	296		$	467		$	951		$	1,410
Interest on lease liabilities		29			38			90			117
		325			505			1,041			1,527
Operating lease cost		14,199			15,035			42,209			43,428
Short-term lease cost		113			335			325			891
Variable lease cost		3,157			3,988			8,349			10,064
Lease impairment cost		—			2,282			—			2,282
Sublease income		(186	)		(217	)		(461	)		(324	)
Total lease cost	$	17,608		$	21,928		$	51,463		$	57,868

	Nine Months Ended January 31,
	2021		2020
	(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	51,456	$	47,040
Financing cash flows from finance leases	$	1,024	$	1,426

ROU assets obtained in exchange for lease obligations:
Operating leases	$	11,322	$	11,742
Finance leases	$	497	$	1,102

	January 31, 2021			April 30, 2020
	(in thousands)
Finance Leases:

Property and equipment, at cost	$	4,714		$	4,281
Accumulated depreciation		(2,276	)		(1,485	)
Property and equipment, net	$	2,438		$	2,796

Other accrued liabilities	$	1,042		$	1,241
Other liabilities		1,499			1,634
Total finance lease liabilities	$	2,541		$	2,875

Weighted average remaining lease terms:
Operating leases	5.2 years			5.5 years
Finance leases	2.8 years			2.9 years

Weighted average discount rate:
Operating leases		4.8	%		4.8	%
Finance leases		4.2	%		4.1	%

Year Ending April 30,	Operating		Financing
	(in thousands)
2021 (excluding the nine months ended January 31, 2021)	$	15,463	$	301
2022		55,466		1,063
2023		47,151		768
2024		40,306		430
2025		34,463		128
Thereafter		49,871		—
Total lease payments		242,720		2,690
Less: imputed interest		29,066		149
Total	$	213,654	$	2,541