Leases (Tables)

6 Months Ended

Oct. 31, 2019

Leases [Abstract]

Components of Lease Costs and Additional Information

Additional information related to leases was as follows:

	Six Months Ended
	October 31,
(in thousands)	2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for finance leases	$	105
Operating cash flows for operating leases	11,783
Financing cash flows for financing leases	1,203
Right-of-use assets obtained in exchange for new finance lease liabilities	643
Right-of-use assets obtained in exchange for new operating lease liabilities	24,178
Weighted average remaining lease term (years)
Weighted average remaining lease term - finance leases	3.36
Weighted average remaining lease term - operating leases	6.51
Weighted average discount rate
Weighted average discount rate - finance leases	3.20		%
Weighted average discount rate - operating leases	4.26		%

The components of lease costs were as follows:

	Six Months Ended
	October 31,
(in thousands)	2019
Finance lease cost:
Amortization of right-of-use assets	$	1,239
Interest on lease liabilities	105
Operating lease cost	12,768

Reconciliation of Future Undiscounted Cash Flows to Operating Lease Liabilities

The following is a reconciliation of future undiscounted cash flows to the operating and finance lease liabilities, and the related ROU assets, presented on the unaudited condensed consolidated balance sheet as of October 31, 2019:

(in thousands)	Operating leases			Financing leases
Year ending April 30,
2020	$	11,866		$	1,300
2021	21,887			2,142
2022	15,758			1,205
2023	11,384			803
2024	10,227			763
Thereafter	34,047			176
Total lease payments	105,169			6,389
Less imputed interest	(13,649		)	(302		)
Total lease liability	$	91,520		$	6,087
Current maturities	(19,453		)	(2,320		)
Lease liability - long-term	$	72,067		$	3,767
Lease assets	$	89,662		$	10,431

Reconciliation of Future Undiscounted Cash Flows to Finance Lease Liabilities

The following is a reconciliation of future undiscounted cash flows to the operating and finance lease liabilities, and the related ROU assets, presented on the unaudited condensed consolidated balance sheet as of October 31, 2019:

(in thousands)	Operating leases			Financing leases
Year ending April 30,
2020	$	11,866		$	1,300
2021	21,887			2,142
2022	15,758			1,205
2023	11,384			803
2024	10,227			763
Thereafter	34,047			176
Total lease payments	105,169			6,389
Less imputed interest	(13,649		)	(302		)
Total lease liability	$	91,520		$	6,087
Current maturities	(19,453		)	(2,320		)
Lease liability - long-term	$	72,067		$	3,767
Lease assets	$	89,662		$	10,431

Schedule of Future Minimum Lease Payments for Operating Leases Under ASC Topic 840

As we have not restated prior-year information for our adoption of ASC Topic 842, the following presents our future minimum lease payments for operating leases and capital leases under ASC Topic 840 on April 30, 2019:

Fiscal Year	Operating (in thousands)		Capital (in thousands)
2020	$	17,943	2,456
2021	17,649		1,953
2022	12,435		1,013
2023	10,636		705
2024	9,854		701
2025 (and thereafter)	38,871		166
	$	107,388	$	6,994
Less amounts representing interest (2% - 6.5%)			(349		)
Total obligations under capital leases			$	6,645

Schedule of Future Minimum Lease Payments for Capital Leases Under ASC Topic 840

As we have not restated prior-year information for our adoption of ASC Topic 842, the following presents our future minimum lease payments for operating leases and capital leases under ASC Topic 840 on April 30, 2019:

Fiscal Year	Operating (in thousands)		Capital (in thousands)
2020	$	17,943	2,456
2021	17,649		1,953
2022	12,435		1,013
2023	10,636		705
2024	9,854		701
2025 (and thereafter)	38,871		166
	$	107,388	$	6,994
Less amounts representing interest (2% - 6.5%)			(349		)
Total obligations under capital leases			$	6,645