Leases

6 Months Ended

Oct. 31, 2020

Leases [Abstract]

Leases

Leases

The Company’s operating leases are primarily related to facility leases for administration and sales. The operating leases have terms ranging from three to five years. While each of the leases includes renewal options, the Company has only included the base lease term in its calculation of lease assets and liabilities. The Company does not have any finance leases.

Balance sheet information related to operating leases is as follows (in thousands):

	October 31, 2020
Assets
Right of use assets	$	1,813
Liabilities
Current lease liabilities	797
Long-term lease liabilities	1,137
Total liabilities	$	1,934

Lease cost information related to operating leases is as follows (in thousands):

	Three Months Ended October 31, 2020		Six Months Ended October 31, 2020
Lease cost
Operating lease cost	$	197	$	391
Short-term lease cost	161		319
Variable lease cost	76		145
Total lease cost	$	434	$	855

Lease costs are primarily included in "Sales and marketing" and "General and administrative" expenses in the Company’s Condensed Consolidated Statements of Operations.

The impact of the Company's leases on Condensed Consolidated Statement of Cash Flows is presented in the operating activities section, which mainly consisted of cash paid for operating lease liabilities of approximately $0.9 million during the six months ended October 31, 2020. On October 6, 2020, the Company extended the lease between Haymac LLC, and Logility, Inc., for an additional three years for the office building located in Massachusetts now ending on December 31, 2023.

Weighted average information associated with the measurement of the Company’s remaining operating lease obligations is as follows:

	October 31, 2020
Weighted average remaining lease term	2.8 years
Weighted average discount rate	3.3	%

The following table summarizes the maturity of the Company’s operating lease liabilities as of October 31, 2020 (in thousands):

FY2021	$	407
FY2022	711
FY2023	486
FY2024	361
FY2025	20
Thereafter	—
Total operating lease payments	$	1,985
Less imputed interest	(51)
Total operating lease liabilities	$	1,934

The Company leases to other tenants a portion of its headquarters building that it owns in Atlanta, Georgia. The leases expire at various dates through October 2025. Lease income is included in "Other, net" in the Company’s Condensed Consolidated Statements of Operations and totaled approximately $79,000 and $150,000 for the three and six months ended October 31, 2020, respectively. Lease payments to be received as of October 31, 2020 are as follows (in thousands):

FY2021	$	93
FY2022	149
FY2023	96
FY2024	98
FY2025	100
Thereafter	50
Total	$	586

Leases

Leases

The Company’s operating leases are primarily related to facility leases for administration and sales. The operating leases have terms ranging from three to five years. While each of the leases includes renewal options, the Company has only included the base lease term in its calculation of lease assets and liabilities. The Company does not have any finance leases.

Balance sheet information related to operating leases is as follows (in thousands):

	October 31, 2020
Assets
Right of use assets	$	1,813
Liabilities
Current lease liabilities	797
Long-term lease liabilities	1,137
Total liabilities	$	1,934

Lease cost information related to operating leases is as follows (in thousands):

	Three Months Ended October 31, 2020		Six Months Ended October 31, 2020
Lease cost
Operating lease cost	$	197	$	391
Short-term lease cost	161		319
Variable lease cost	76		145
Total lease cost	$	434	$	855

Lease costs are primarily included in "Sales and marketing" and "General and administrative" expenses in the Company’s Condensed Consolidated Statements of Operations.

The impact of the Company's leases on Condensed Consolidated Statement of Cash Flows is presented in the operating activities section, which mainly consisted of cash paid for operating lease liabilities of approximately $0.9 million during the six months ended October 31, 2020. On October 6, 2020, the Company extended the lease between Haymac LLC, and Logility, Inc., for an additional three years for the office building located in Massachusetts now ending on December 31, 2023.

Weighted average information associated with the measurement of the Company’s remaining operating lease obligations is as follows:

	October 31, 2020
Weighted average remaining lease term	2.8 years
Weighted average discount rate	3.3	%

The following table summarizes the maturity of the Company’s operating lease liabilities as of October 31, 2020 (in thousands):

FY2021	$	407
FY2022	711
FY2023	486
FY2024	361
FY2025	20
Thereafter	—
Total operating lease payments	$	1,985
Less imputed interest	(51)
Total operating lease liabilities	$	1,934

The Company leases to other tenants a portion of its headquarters building that it owns in Atlanta, Georgia. The leases expire at various dates through October 2025. Lease income is included in "Other, net" in the Company’s Condensed Consolidated Statements of Operations and totaled approximately $79,000 and $150,000 for the three and six months ended October 31, 2020, respectively. Lease payments to be received as of October 31, 2020 are as follows (in thousands):

FY2021	$	93
FY2022	149
FY2023	96
FY2024	98
FY2025	100
Thereafter	50
Total	$	586