XML 36 R24.htm IDEA: XBRL DOCUMENT v3.21.2
Leases (Tables)
 6 Months Ended
Oct. 31, 2021
Leases [Abstract]  
Schedule of Right-of-Use Assets and Operating Lease Liabilities
ROU assets are summarized below:
October 31, 2021April 30, 2021
ROU assets - Operating facility leases$15,958,721 $14,308,296 
Less: accumulated reduction(2,448,065)(1,593,433)
Total ROU assets$13,510,656 $12,714,863 

Operating lease obligations, related to the ROU assets are summarized below:
October 31, 2021April 30, 2021
Total lease liabilities$22,436,658 $19,946,229 
Reduction of lease liabilities(2,558,744)(1,617,600)
Total operating lease obligations$19,877,914 $18,328,629 
Future Minimum Payments Under Operating Leases
The following is a schedule by fiscal years of future minimum lease payments required under operating leases that have initial or remaining non-cancelable lease terms in excess of one year as of October 31, 2021 (a) (by fiscal year) .
Maturity of Lease ObligationsLease Payments
2022 (remaining)$2,179,605 
20234,142,637 
20244,018,977 
20253,802,959 
20263,908,722 
Thereafter11,963,225 
Total future minimum lease payments30,016,125 
    Less: imputed interest(10,138,211)
Present value of operating lease liabilities$19,877,914 
_____________________
(a) Lease payments exclude $3.7 million of legally binding minimum lease payments for the new BSN Pre-Licensure campus location in a Tier 1 metropolitan area lease signed but not yet commenced.
Schedule of Balance Sheet Information Related to Leases
Balance Sheet ClassificationOctober 31, 2021April 30, 2021
Operating lease obligations, current portion$2,145,431 $2,029,821 
Operating lease obligations, less current portion17,732,483 16,298,808 
Total operating lease liabilities$19,877,914 $18,328,629 
Schedule of Other Information Related to Leases
Other InformationOctober 31, 2021
Weighted average remaining lease term (in years)7.29
Weighted average discount rate12 %