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Long-Term Debt and Capital Leases (Tables)
 12 Months Ended
Apr. 30, 2014
Debt Disclosure [Abstract]  
Components of Long-Term Debt and Capital Leases

Long-term debt and capital leases as of April 30, 2014 and 2013 consist of the following:

 

     April 30,  
     2014      2013  

Senior subordinated notes due February 15, 2019, bearing interest at 7.75%, interest payable semiannually, unsecured and unconditionally guaranteed (including unamortized discount of $1,491 and $1,735)

    $ 323,509       $ 323,265   

Senior secured revolving credit facility, which provides for advances or letters of credit of up to $227,500, due March 18, 2016, bearing interest at LIBOR plus 3.75%, (approximately 3.90% at April 30, 2014 based on one month LIBOR), secured by substantially all of our assets

      133,860         123,200   

Finance Authority of Maine Solid Waste Disposal Revenue Bonds Series 2005R-1 due January 1, 2025, dated December 1, 2005, bearing interest at BMA Index (approximately 0.18% at April 30, 2014) enhanced by an irrevocable, transferable direct-pay letter of credit (3.875% at April 30, 2014)

      3,600         3,600   

Finance authority of Maine Solid Waste Disposal Revenue Bonds Series 2005R-2 due January 1, 2025, dated February 1, 2012, bearing interest at 6.25% through January 31, 2017, unsecured and guaranteed by our significant wholly-owned subsidiaries

      21,400         21,400   

Vermont Economic Development Authority Solid Waste Disposal Long-Term Revenue Bonds Series 2013 due April 1, 2036, dated March 1, 2013, bearing interest at 4.75% through April 4, 2019, unsecured and guaranteed by our significant wholly-owned subsidiaries

      16,000         16,000   

Business Finance Authority of the State of New Hampshire Solid Waste Disposal Revenue Bonds Series 2013 due April 1, 2029, dated March 1, 2013, bearing interest at BMA Index (approximately 0.18% at April 30, 2014) enhanced by an irrevocable, transferable direct-pay letter of credit (3.875% at April 30, 2014)

      5,500         5,500   

Notes payable, bearing interest at rates of up to 6.00%, due in monthly or annual installments varying to $120, maturing through April 2017

      440         1,228   

Capital leases for facilities and equipment, bearing interest at rates of up to 7.70%, due in monthly or annual installments varying to $935, maturing through April 2023

      3,710         2,012   
  

 

 

     

 

 

  
     508,019         496,205   

Less – current maturities

      885         1,218   
  

 

 

     

 

 

  
   $ 507,134       $ 494,987   
  

 

 

     

 

 
Components of Interest Expense

The components of interest expense for fiscal years 2014, 2013 and 2012 are as follows:

 

     Fiscal Year Ended April 30,  
     2014     2013     2012  

Interest expense on debt and capital lease obligations

    $ 34,216      $ 36,955      $ 40,156   

Amortization of debt financing costs

      2,757        3,325        3,307   

Amortization of debt discounts

      243        626        964   

Letter of credit fees

      1,215        1,032        988   

Less: capitalized interest

      (256 )      (368 )      (407 ) 
  

 

 

    

 

 

    

 

 

  

Total interest expense

    $ 38,175      $ 41,570      $ 45,008   
Schedule of Future Maturities of Debt

Aggregate principal maturities of debt and capital leases as of April 30, 2014 are as follows:

 

2015

    $ 885   

2016

      135,324   

2017

      227   

2018

      215   

2019 (1)

      323,740   

Thereafter

      47,628   
  

 

 

  
   $ 508,019   
  

 

 

  

 

(1) Includes unamortized discount of $1,491 on 2019 Notes.