| Schedule of Derivative Instruments |
The following table summarizes our interest rate swaps designated as cash flow hedges: | | | | | | | | | | | | | | | | | | | | | | | | Notional Amount | | | | Hedged Item | Date entered into | Nature of Swap | July 31, 2024 | April 30, 2024 | Fixed Interest Rate | Variable Interest Rate | | Amended and Restated CA | May 15, 2024 | Pay fixed/receive variable | $ | 50,000 | | $ | — | | 4.288 | % | 1-month SOFR reset every month for a 3-year period ending July 15, 2027 | Amended and Restated CA (1) | April 09, 2024 | Pay fixed/receive variable | 50,000 | | 50,000 | | 4.243 | % | 1-month SOFR reset every month for a 3-year period ending July 15, 2027 | | Amended and Restated CA | January 31, 2024 | Pay fixed/receive variable | 50,000 | | 50,000 | | 3.700 | % | 1-month SOFR reset every month for a 3-year period ending April 15, 2027 | | Amended and Restated CA | January 24, 2024 | Pay fixed/receive variable | 50,000 | | 50,000 | | 3.774 | % | 1-month SOFR reset every month for a 3-year period ending April 15, 2027 | | Amended and Restated CA | January 05, 2024 | Pay fixed/receive variable | 50,000 | | 50,000 | | 3.689 | % | 1-month SOFR reset every month for a 3-year period ending April 15, 2027 | | Amended and Restated CA | December 19, 2023 | Pay fixed/receive variable | 50,000 | | 50,000 | | 3.850 | % | 1-month SOFR reset every month for a 3-year period ending January 15, 2027 | | Amended and Restated CA | March 15, 2023 | Pay fixed/receive variable | 50,000 | | 50,000 | | 3.565 | % | 1-month SOFR reset every month for a 3-year period ending April 15, 2026 | | Amended and Restated CA | March 14, 2023 | Pay fixed/receive variable | 50,000 | | 50,000 | | 4.053 | % | 1-month SOFR reset every month for a 3-year period ending March 15, 2026 | | Amended and Restated CA | March 13, 2023 | Pay fixed/receive variable | 50,000 | | 50,000 | | 3.720 | % | 1-month SOFR reset every month for a 3-year period ending March 15, 2026 | | Amended and Restated CA | December 13, 2022 | Pay fixed/receive variable | 50,000 | | 50,000 | | 3.772 | % | 1-month SOFR reset every month for a 3-year period ending December 15, 2025 | | Amended and Restated CA | June 16, 2022 | Pay fixed/receive variable | — | | 100,000 | | 3.467 | % | 1-month SOFR reset every month for a 2-year period ending May 15, 2024 | | $ | 500,000 | | $ | 550,000 | | | |
| | | | | | (1) | As of April 30, 2024, this interest rate swap agreement was considered a forward starting contract as the effective date was July 15, 2024. |
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| Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location |
The fair value of our interest rate swaps designated as cash flow hedges are reflected on our Unaudited Condensed Consolidated Statements of Financial Position as follows: | | | | | | | | | | | | | | | | | | Assets (Liabilities) | | Balance Sheet Location | July 31, 2024 | | April 30, 2024 | | Current asset portion | | Prepaid expenses and other current assets | $ | — | | | $ | 154 | | | Non-current asset portion | | Other non-current assets | 2,768 | | | 9,686 | | | Non-current liability portion | | Other long-term liabilities | (1,016) | | | — | | | Total cash flow hedges | | | $ | 1,752 | | | $ | 9,840 | |
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| Reclassification out of Accumulated Other Comprehensive Income |
The effect of our interest rate swaps on our Unaudited Condensed Consolidated Statements of Other Comprehensive Income (Loss) and Unaudited Condensed Consolidated Statements of Net Loss are as follows:
| | | | | | | | | | | | | | | | | Three Months Ended
July 31, | | | 2024 | | 2023 | | Amount of pretax (losses) gains recognized in Other comprehensive income (loss) | | $ | (6,360) | | | $ | 6,291 | | | Amount of pretax gains reclassified from Accumulated other comprehensive loss into Interest expense | | $ | 1,715 | | | $ | 2,885 | |
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