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Leases (Tables) | 9 Months Ended
--- | ---
Jan. 31, 2022
Leases [Abstract] |
Right-of-use assets and lease liabilities recognized in the Condensed Consolidated Balance Sheet | The following table sets forth the right-of-use assets and lease liabilities recognized in the Condensed Consolidated Balance Sheets.
| January 31, 2022 |  | April 30, 2021
Operating lease right-of-use assets | $ | 113.4 |  |  | $ | 142.0 |
Operating lease liabilities: |  |  |
Current operating lease liabilities | $ | 39.7 |  |  | $ | 41.1 |
Noncurrent operating lease liabilities | 84.0 |  |  | 112.8 |
Total operating lease liabilities | $ | 123.7 |  |  | $ | 153.9 |
Finance lease right-of-use assets: |  |  |
Machinery and equipment | $ | 8.0 |  |  | $ | 9.8 |
Accumulated depreciation | (4.4) |  |  | (5.5) |
Total property, plant, and equipment | $ | 3.6 |  |  | $ | 4.3 |
Finance lease liabilities: |  |  |
Other current liabilities | $ | 1.4 |  |  | $ | 1.8 |
Other noncurrent liabilities | 2.3 |  |  | 2.5 |
Total finance lease liabilities | $ | 3.7 |  |  | $ | 4.3 |
Components of lease expense | The following table summarizes the components of lease expense.
| Three Months Ended January 31, |  | Nine Months Ended January 31,
| 2022 |  | 2021 |  | 2022 |  | 2021
Operating lease cost | $ | 10.8 |  |  | $ | 11.6 |  |  | $ | 32.2 |  |  | $ | 34.0 |
Finance lease cost: |  |  |  |  |  |  |
Amortization of right-of-use assets | 0.5 |  |  | 0.6 |  |  | 1.6 |  |  | 1.8 |
Interest on lease liabilities | — |  |  | — |  |  | 0.1 |  |  | 0.1 |
Variable lease cost | 5.9 |  |  | 6.6 |  |  | 16.9 |  |  | 17.7 |
Short-term lease cost | 10.2 |  |  | 9.5 |  |  | 30.3 |  |  | 28.8 |
Sublease income | (0.3) |  |  | (0.9) |  |  | (0.9) |  |  | (3.4) |
Net lease cost | $ | 27.1 |  |  | $ | 27.4 |  |  | $ | 80.2 |  |  | $ | 79.0 |
Cash flow and noncash information related to leases | The following table sets forth cash flow and noncash information related to leases.
| Nine Months Ended January 31,
| 2022 |  | 2021
Cash paid for amounts included in the measurement of lease liabilities: |  |  |
Operating cash flows from operating leases | $ | 33.7 |  |  | $ | 32.3 |
Operating cash flows from finance leases | 0.1 |  |  | 0.1 |
Financing cash flows from finance leases | 1.7 |  |  | 2.0 |
Right-of-use assets obtained in exchange for new lease liabilities: |  |  |
Operating leases | 2.9 |  |  | 31.2 |
Finance leases | 1.2 |  |  | 0.8 |
Maturity of operating lease liabilities by fiscal year | The following table summarizes the maturity of our lease liabilities by fiscal year.
| January 31, 2022
| Operating Leases |  | Finance Leases
2022 (remainder of the year) | $ | 10.7 |  |  | $ | 0.4 |
2023 | 41.1 |  |  | 1.3 |
2024 | 29.8 |  |  | 1.1 |
2025 | 21.4 |  |  | 0.7 |
2026 | 18.6 |  |  | 0.3 |
2027 and beyond | 7.8 |  |  | — |
Total undiscounted minimum lease payments | $ | 129.4 |  |  | $ | 3.8 |
Less: Imputed interest | 5.7 |  |  | 0.1 |
Lease liabilities | $ | 123.7 |  |  | $ | 3.7 |
Maturity of finance lease liabilities by fiscal year | The following table summarizes the maturity of our lease liabilities by fiscal year.
| January 31, 2022
| Operating Leases |  | Finance Leases
2022 (remainder of the year) | $ | 10.7 |  |  | $ | 0.4 |
2023 | 41.1 |  |  | 1.3 |
2024 | 29.8 |  |  | 1.1 |
2025 | 21.4 |  |  | 0.7 |
2026 | 18.6 |  |  | 0.3 |
2027 and beyond | 7.8 |  |  | — |
Total undiscounted minimum lease payments | $ | 129.4 |  |  | $ | 3.8 |
Less: Imputed interest | 5.7 |  |  | 0.1 |
Lease liabilities | $ | 123.7 |  |  | $ | 3.7 |
Weighted average remaining lease tern and discount rate | The following table sets forth the weighted average remaining lease term and discount rate.
| January 31, 2022 |  | April 30, 2021
Weighted average remaining lease term (in years): |  |  |
Operating leases | 3.8 |  | 4.4
Finance leases | 3.0 |  | 3.1
Weighted average discount rate: |  |  |
Operating leases | 2.5 | % |  | 2.5 | %
Finance leases | 2.1 | % |  | 2.6 | %

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918701-209980 + Details
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