Leases (Tables)

9 Months Ended

Jan. 31, 2020

Leases [Abstract]

Components of Lease Costs and Additional Information

Additional information related to leases was as follows:

	Nine months ended
	January 31,
(in thousands)	2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for finance leases	$	157
Operating cash flows for operating leases	16,731
Financing cash flows for financing leases	1,883
Right-of-use assets obtained in exchange for new finance lease liabilities	1,399
Right-of-use assets obtained in exchange for new operating lease liabilities	29,622
Weighted average remaining lease term (years)
Weighted average remaining lease term - finance leases	3.44
Weighted average remaining lease term - operating leases	6.38
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:

	Nine months ended
	January 31,
(in thousands)	2020
Finance lease cost:
Reduction in the carrying value of right-of-use assets	$	1,922
Interest on lease liabilities	157
Operating lease cost	19,462

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 January 31, 2020:

(in thousands)	Operating leases			Financing leases
Year ending April 30,
2020	$	6,305		$	687
2021	23,959			2,316
2022	17,911			1,381
2023	12,762			921
2024	10,735			858
Thereafter	36,142			338
Total lease payments	107,814			6,501
Less imputed interest	(13,680		)	(382		)
Total lease liability	$	94,134		$	6,119
Current maturities	(20,837		)	(2,355		)
Lease liability - long-term	$	73,297		$	3,764
Lease assets	$	90,530		$	10,582

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 January 31, 2020:

(in thousands)	Operating leases			Financing leases
Year ending April 30,
2020	$	6,305		$	687
2021	23,959			2,316
2022	17,911			1,381
2023	12,762			921
2024	10,735			858
Thereafter	36,142			338
Total lease payments	107,814			6,501
Less imputed interest	(13,680		)	(382		)
Total lease liability	$	94,134		$	6,119
Current maturities	(20,837		)	(2,355		)
Lease liability - long-term	$	73,297		$	3,764
Lease assets	$	90,530		$	10,582

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