Commitments and Contingencies

3 Months Ended

Jul. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Commitments and Contingencies

From time to time we may be involved in legal or administrative proceedings or investigations arising from the conduct of our business operations, including, but not limited to, contractual disputes; employment, personnel, or accessibility matters; personal injury and property damage claims; and claims by federal, state, and local regulatory authorities relating to the sale of products pursuant to licenses and permits issued by those authorities. Claims for damages in those actions may be substantial. While the outcome of such litigation, proceedings, investigations, or claims is never certain, it is our opinion, after taking into consideration legal counsel’s assessment and the availability of insurance proceeds and other collateral sources to cover potential losses, that the ultimate disposition of such matters currently pending or threatened, individually or cumulatively, will not have a material adverse effect on our consolidated financial position and results of operations.

The Company is a lessee on a variety of leasing arrangements varying in remaining terms of 1.0 to 41.1 years. These leases were measured at the present value of the lease payments at adoption of guidance under ASC 842 using the incremental borrowing rate of debt based on the remaining number of years in the lease. The discount rate on current leases varies between 3.70% to 6.00% depending on the term of the lease. Several leases have variable payment components of the lease. For these, the Company has not included those variable payments in the calculation of the lease liability as the payments are unknown. These variable payments will be expensed as incurred. The Company also has options to renew or extend the current lease arrangement on many of our leases. In these situations, if it was probable the lease would be extended, we have included those extensions within the remaining lease payments at the time of measurement.

Future minimum payments under the capital leases and noncancelable operating leases with initial or remaining terms of one year or more consisted of the following at July 31, 2019 and April 30, 2019:

Years ended July 31,	Capital leases		Operating leases
2020	$	3,104	$	1,969
2021	3,112		1,907
2022	3,119		1,850
2023	3,099		1,765
2024	2,113		1,666
Thereafter	8,884		27,328
Total minimum lease payments	23,431		36,485
Less amount representing interest	7,357		14,251
Present value of net minimum lease payments	$	16,074	$	22,234

Years ended April 30,	Capital leases		Operating leases
2020	$	3,103	$	1,703
2021	3,109		1,547
2022	3,096		1,354
2023	3,098		1,228
2024	2,548		1,066
Thereafter	9,215		10,438
Total minimum lease payments	24,169		$	17,336
Less amount representing interest	7,689
Present value of net minimum lease payments	$	16,480

Commitments and Contingencies

Commitments and Contingencies

From time to time we may be involved in legal or administrative proceedings or investigations arising from the conduct of our business operations, including, but not limited to, contractual disputes; employment, personnel, or accessibility matters; personal injury and property damage claims; and claims by federal, state, and local regulatory authorities relating to the sale of products pursuant to licenses and permits issued by those authorities. Claims for damages in those actions may be substantial. While the outcome of such litigation, proceedings, investigations, or claims is never certain, it is our opinion, after taking into consideration legal counsel’s assessment and the availability of insurance proceeds and other collateral sources to cover potential losses, that the ultimate disposition of such matters currently pending or threatened, individually or cumulatively, will not have a material adverse effect on our consolidated financial position and results of operations.

The Company is a lessee on a variety of leasing arrangements varying in remaining terms of 1.0 to 41.1 years. These leases were measured at the present value of the lease payments at adoption of guidance under ASC 842 using the incremental borrowing rate of debt based on the remaining number of years in the lease. The discount rate on current leases varies between 3.70% to 6.00% depending on the term of the lease. Several leases have variable payment components of the lease. For these, the Company has not included those variable payments in the calculation of the lease liability as the payments are unknown. These variable payments will be expensed as incurred. The Company also has options to renew or extend the current lease arrangement on many of our leases. In these situations, if it was probable the lease would be extended, we have included those extensions within the remaining lease payments at the time of measurement.

Future minimum payments under the capital leases and noncancelable operating leases with initial or remaining terms of one year or more consisted of the following at July 31, 2019 and April 30, 2019:

Years ended July 31,	Capital leases		Operating leases
2020	$	3,104	$	1,969
2021	3,112		1,907
2022	3,119		1,850
2023	3,099		1,765
2024	2,113		1,666
Thereafter	8,884		27,328
Total minimum lease payments	23,431		36,485
Less amount representing interest	7,357		14,251
Present value of net minimum lease payments	$	16,074	$	22,234

Years ended April 30,	Capital leases		Operating leases
2020	$	3,103	$	1,703
2021	3,109		1,547
2022	3,096		1,354
2023	3,098		1,228
2024	2,548		1,066
Thereafter	9,215		10,438
Total minimum lease payments	24,169		$	17,336
Less amount representing interest	7,689
Present value of net minimum lease payments	$	16,480

Commitments and Contingencies

Commitments and Contingencies

From time to time we may be involved in legal or administrative proceedings or investigations arising from the conduct of our business operations, including, but not limited to, contractual disputes; employment, personnel, or accessibility matters; personal injury and property damage claims; and claims by federal, state, and local regulatory authorities relating to the sale of products pursuant to licenses and permits issued by those authorities. Claims for damages in those actions may be substantial. While the outcome of such litigation, proceedings, investigations, or claims is never certain, it is our opinion, after taking into consideration legal counsel’s assessment and the availability of insurance proceeds and other collateral sources to cover potential losses, that the ultimate disposition of such matters currently pending or threatened, individually or cumulatively, will not have a material adverse effect on our consolidated financial position and results of operations.

The Company is a lessee on a variety of leasing arrangements varying in remaining terms of 1.0 to 41.1 years. These leases were measured at the present value of the lease payments at adoption of guidance under ASC 842 using the incremental borrowing rate of debt based on the remaining number of years in the lease. The discount rate on current leases varies between 3.70% to 6.00% depending on the term of the lease. Several leases have variable payment components of the lease. For these, the Company has not included those variable payments in the calculation of the lease liability as the payments are unknown. These variable payments will be expensed as incurred. The Company also has options to renew or extend the current lease arrangement on many of our leases. In these situations, if it was probable the lease would be extended, we have included those extensions within the remaining lease payments at the time of measurement.

Future minimum payments under the capital leases and noncancelable operating leases with initial or remaining terms of one year or more consisted of the following at July 31, 2019 and April 30, 2019:

Years ended July 31,	Capital leases		Operating leases
2020	$	3,104	$	1,969
2021	3,112		1,907
2022	3,119		1,850
2023	3,099		1,765
2024	2,113		1,666
Thereafter	8,884		27,328
Total minimum lease payments	23,431		36,485
Less amount representing interest	7,357		14,251
Present value of net minimum lease payments	$	16,074	$	22,234

Years ended April 30,	Capital leases		Operating leases
2020	$	3,103	$	1,703
2021	3,109		1,547
2022	3,096		1,354
2023	3,098		1,228
2024	2,548		1,066
Thereafter	9,215		10,438
Total minimum lease payments	24,169		$	17,336
Less amount representing interest	7,689
Present value of net minimum lease payments	$	16,480