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Long-term Debt and Finance Lease Obligations, Lines of Credit, and Fair Value Disclosure
9 Months Ended
Jan. 31, 2020
Long-Term Debt and Fair Value Disclosure [Abstract]  
Long-term Debt and Finance Lease Obligations, Lines of Credit, and Fair Value Disclosure
Long-Term Debt and Finance Lease Obligations, Lines of Credit, and Fair Value Disclosure
The fair value of the Company’s long-term debt (including current maturities) is estimated based on the current rates offered to the Company for debt of the same or similar issuances. The fair value of the Company’s long-term debt was approximately $1,340,000 and $1,272,000 at January 31, 2020 and April 30, 2019, respectively.
The Company has a credit agreement that provides for a $300 million unsecured revolving credit facility which includes a $30 million sublimit for letters of credit and a $30 million sublimit for swingline loans (the "Credit Facility"). The maturity date is January 11, 2024. Amounts borrowed under the Credit Facility bear interest at variable rates based upon, at the Company's option, either (a) LIBOR plus an applicable margin or (b) an alternate base rate. The Credit Facility also carries a facility fee between 0.2% and 0.4% per annum based on the Company's consolidated leverage ratio as defined in the credit agreement. The Company had $65,000 outstanding at January 31, 2020 and $75,000 outstanding at April 30, 2019. The Company also has an unsecured revolving line of credit of $25,000 (the "Bank Line"), under which there was $11,000 and $0 outstanding at January 31, 2020 and April 30, 2019.
Within current maturities of long-term debt on the condensed consolidated balance sheets is a $569,000 5.22% Senior note that is due on August 9, 2020. The Company intends to refinance this note.