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Leases
9 Months Ended
Jan. 31, 2024
Leases [Abstract]  
Leases Leases
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. During the nine months ended January 31, 2024, the Company reduced its real estate footprint and as a result recorded an impairment charge of the ROU assets of $1.6 million in the condensed consolidated statements of income. During both the three and nine months ended January 31, 2023, the Company reduced its real estate footprint and as a result recorded an impairment charge of the ROU assets of $5.5 million in the condensed consolidated statements of income.
The components of lease expense were as follows:
Three Months Ended
January 31,
Nine Months Ended
January 31,
2024202320242023
(in thousands)
Finance lease cost
Amortization of ROU assets$384 $366 $1,234 $1,104 
Interest on lease liabilities53 47 161 141 
437 413 1,395 1,245 
Operating lease cost12,013 12,339 35,099 36,957 
Short-term lease cost178 183 669 616 
Variable lease cost3,371 3,300 10,286 7,538 
Lease impairment cost— 5,471 1,629 5,471 
Sublease income(1,096)(1,019)(3,210)(2,264)
Total lease cost$14,903 $20,687 $45,868 $49,563 
Supplemental cash flow information related to leases was as follows:
Nine Months Ended
January 31,
20242023
(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$38,616 $49,870 
Financing cash flows from finance leases$1,361 $1,228 
ROU assets obtained in exchange for lease obligations:
Operating leases$56,487 $8,967 
Finance leases$882 $2,673 
Maturities of lease liabilities were as follows:
Year Ending April 30,OperatingFinancing
(in thousands)
2024 (excluding the nine months ended January 31, 2024)$11,065 $417 
202544,433 1,565 
202637,467 1,193 
202728,369 778 
202821,783 509 
Thereafter101,660 12 
Total lease payments244,777 4,474 
Less: imputed interest56,723 355 
Total$188,054 $4,119 
Leases Leases
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. During the nine months ended January 31, 2024, the Company reduced its real estate footprint and as a result recorded an impairment charge of the ROU assets of $1.6 million in the condensed consolidated statements of income. During both the three and nine months ended January 31, 2023, the Company reduced its real estate footprint and as a result recorded an impairment charge of the ROU assets of $5.5 million in the condensed consolidated statements of income.
The components of lease expense were as follows:
Three Months Ended
January 31,
Nine Months Ended
January 31,
2024202320242023
(in thousands)
Finance lease cost
Amortization of ROU assets$384 $366 $1,234 $1,104 
Interest on lease liabilities53 47 161 141 
437 413 1,395 1,245 
Operating lease cost12,013 12,339 35,099 36,957 
Short-term lease cost178 183 669 616 
Variable lease cost3,371 3,300 10,286 7,538 
Lease impairment cost— 5,471 1,629 5,471 
Sublease income(1,096)(1,019)(3,210)(2,264)
Total lease cost$14,903 $20,687 $45,868 $49,563 
Supplemental cash flow information related to leases was as follows:
Nine Months Ended
January 31,
20242023
(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$38,616 $49,870 
Financing cash flows from finance leases$1,361 $1,228 
ROU assets obtained in exchange for lease obligations:
Operating leases$56,487 $8,967 
Finance leases$882 $2,673 
Maturities of lease liabilities were as follows:
Year Ending April 30,OperatingFinancing
(in thousands)
2024 (excluding the nine months ended January 31, 2024)$11,065 $417 
202544,433 1,565 
202637,467 1,193 
202728,369 778 
202821,783 509 
Thereafter101,660 12 
Total lease payments244,777 4,474 
Less: imputed interest56,723 355 
Total$188,054 $4,119