Leases (Tables)

12 Months Ended

Apr. 30, 2025

Leases [Abstract]

Schedule of Lease Costs

Leases

Operating Leases - right-of-use ("ROU") assets related to operating leases are presented as Operating lease right-of-use assets on the consolidated balance sheet. Lease liabilities related to operating leases with lease terms greater than twelve months are presented in short-term lease liability - operating and Long-term lease liability - operating on the consolidated balance sheet.

Operating lease ROU assets and lease liabilities are recognized at the commencement date based on the present value of the future lease payments over the lease term. The discount rate used to determine the present value of the lease payments is the rate implicit in the lease unless that rate cannot be readily determined, in which case, the Company utilizes its incremental borrowing rate in determining the present value of the future lease payments. The incremental borrowing rate is the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. Operating lease ROU assets may also include any cumulative prepaid or accrued rent when the lease payments are uneven throughout the lease term. The ROU assets and lease liabilities may also include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. The ROU asset includes any lease payments made and lease incentives received prior to the commencement date. The Company has lease arrangements with lease and non-lease components, which are accounted for separately. Non-lease components of the lease payments are expensed as incurred and are not included in determining the present value.

Finance Leases - ROU assets related to finance leases are presented in property, plant and equipment, net on the consolidated balance sheet. Lease liabilities related to finance leases are presented in current maturities of long-term debt and long-term debt, less current maturities on the consolidated balance sheet.

Finance lease ROU assets and lease liabilities are recognized at the commencement date based on the present value of the future lease payments over the lease term. The discount rate used to determine the present value of the lease payments is the rate implicit in the lease unless that rate cannot be readily determined, in which case, the Company utilizes its incremental borrowing rate in determining the present value of the future lease payments. The incremental borrowing rate is the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment.

The components of lease costs were as follows:

	FISCAL YEARS ENDED APRIL 30,
(in thousands)	2025		2024		2023
Finance lease cost:
Reduction in the carrying value of right-of-use assets	$	2,662	$	2,078	$	1,720
Interest on lease liabilities	373		202		105
Operating lease cost	38,746		31,365		26,592

Additional information related to leases was as follows:

	FISCAL YEARS ENDED APRIL 30,
(dollars in thousands)	2025			2024			2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for finance leases	$	373		$	202		$	105
Operating cash flows for operating leases	38,807			30,388			26,906
Financing cash flows for financing leases	2,597			2,059			1,714
Right-of-use assets obtained in exchange for new finance lease liabilities	3,161			4,738			1,138
Right-of-use assets obtained in exchange for new operating lease liabilities	20,893			26,912			11,109
Weighted average remaining lease term (years)
Weighted average remaining lease term - finance leases	2.48			2.71			1.99
Weighted average remaining lease term - operating leases	5.12			5.91			4.84
Weighted average discount rate
Weighted average discount rate - finance leases	6.40		%	6.04		%	3.69		%
Weighted average discount rate - operating leases	4.47		%	4.18		%	3.35		%

Finance Lease, Liability, Maturity

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 consolidated balance sheet as of April 30, 2025:

FISCAL YEAR	OPERATING (in thousands)		FINANCING (in thousands)
2026	$	38,955	$	2,956
2027	33,365		2,256
2028	27,833		949
2029	20,941		332
2030	8,329		83
Thereafter	24,206		—
Total lease payments	153,629		6,576
Less imputed interest	(17,185)		(496)
Total lease liability	136,444		6,080
Current maturities	(33,598)		(2,659)
Long-term lease liability	$	102,846	$	3,421
Lease right-of-use assets	$	128,907	$	12,107

Lessee, Operating Lease, Liability, Maturity

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 consolidated balance sheet as of April 30, 2025:

FISCAL YEAR	OPERATING (in thousands)		FINANCING (in thousands)
2026	$	38,955	$	2,956
2027	33,365		2,256
2028	27,833		949
2029	20,941		332
2030	8,329		83
Thereafter	24,206		—
Total lease payments	153,629		6,576
Less imputed interest	(17,185)		(496)
Total lease liability	136,444		6,080
Current maturities	(33,598)		(2,659)
Long-term lease liability	$	102,846	$	3,421
Lease right-of-use assets	$	128,907	$	12,107