XML 34 R19.htm IDEA: XBRL DOCUMENT v3.24.3
Leases
6 Months Ended
Oct. 31, 2024
Leases [Abstract]  
Leases Leases
The Company’s lease portfolio is comprised of operating leases for office space and equipment and finance leases for equipment. Equipment leases are comprised of vehicles and office equipment. During the six months ended October 31, 2023, the Company reduced its real estate footprint and as a result recorded an impairment charge of the ROU assets of $1.6 million in the condensed consolidated statements of operations. No impairment charge of the ROU assets was recorded during the three and six months ended October 31, 2024 and the three months ended October 31, 2023.
The components of lease expense were as follows:
Three Months Ended
October 31,
Six Months Ended
October 31,
2024202320242023
(in thousands)
Finance lease cost
Amortization of ROU assets$362 $448 $741 $850 
Interest on lease liabilities45 54 94 108 
407 502 835 958 
Operating lease cost12,096 11,389 24,091 23,086 
Short-term lease cost202 222 428 491 
Variable lease cost3,027 3,724 5,368 6,915 
Lease impairment cost— — — 1,629 
Sublease income(1,206)(1,051)(2,359)(2,114)
Total lease cost$14,526 $14,786 $28,363 $30,965 
Supplemental cash flow information related to leases was as follows:
Six Months Ended
October 31,
20242023
(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$24,597 $26,635 
Financing cash flows from finance leases$815 $938 
ROU assets obtained in exchange for lease obligations:
Operating leases$18,565 $4,109 
Finance leases$217 $714 
Maturities of lease liabilities were as follows:
Year Ending April 30,OperatingFinancing
(in thousands)
2025 (excluding the six months ended October 31, 2024)
$23,277 $775 
202641,817 1,260 
202729,777 832 
202824,732 548 
202919,703 12 
Thereafter86,447 — 
Total lease payments225,753 3,427 
Less: imputed interest44,812 243 
Total$180,941 $3,184 
Leases Leases
The Company’s lease portfolio is comprised of operating leases for office space and equipment and finance leases for equipment. Equipment leases are comprised of vehicles and office equipment. During the six months ended October 31, 2023, the Company reduced its real estate footprint and as a result recorded an impairment charge of the ROU assets of $1.6 million in the condensed consolidated statements of operations. No impairment charge of the ROU assets was recorded during the three and six months ended October 31, 2024 and the three months ended October 31, 2023.
The components of lease expense were as follows:
Three Months Ended
October 31,
Six Months Ended
October 31,
2024202320242023
(in thousands)
Finance lease cost
Amortization of ROU assets$362 $448 $741 $850 
Interest on lease liabilities45 54 94 108 
407 502 835 958 
Operating lease cost12,096 11,389 24,091 23,086 
Short-term lease cost202 222 428 491 
Variable lease cost3,027 3,724 5,368 6,915 
Lease impairment cost— — — 1,629 
Sublease income(1,206)(1,051)(2,359)(2,114)
Total lease cost$14,526 $14,786 $28,363 $30,965 
Supplemental cash flow information related to leases was as follows:
Six Months Ended
October 31,
20242023
(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$24,597 $26,635 
Financing cash flows from finance leases$815 $938 
ROU assets obtained in exchange for lease obligations:
Operating leases$18,565 $4,109 
Finance leases$217 $714 
Maturities of lease liabilities were as follows:
Year Ending April 30,OperatingFinancing
(in thousands)
2025 (excluding the six months ended October 31, 2024)
$23,277 $775 
202641,817 1,260 
202729,777 832 
202824,732 548 
202919,703 12 
Thereafter86,447 — 
Total lease payments225,753 3,427 
Less: imputed interest44,812 243 
Total$180,941 $3,184