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Stockholders' (Deficit) Equity (Tables)
8 Months Ended
Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Stock Option Activity

The following table summarizes stock option activity for transition period 2014.

 

     Stock Options     Weighted
Average
Exercise Price
     Weighted
Average
Remaining
Contractual
Term (years)
     Aggregate
Intrinsic Value
 

Outstanding, April 30, 2014

     1,368      $ 8.65         

Granted

     200      $ 4.86         

Exercised

     (33   $ 4.30         

Forfeited

     (155   $ 13.17         
  

 

 

         

Outstanding, December 31, 2014

     1,380      $ 7.70         5.3       $ 55   
  

 

 

   

 

 

    

 

 

    

 

 

 

Exercisable, December 31, 2014

     857      $ 9.58         3.2       $ 46   
  

 

 

   

 

 

    

 

 

    

 

 

 

Expected to vest, December 31, 2014

     1,379      $ 7.70         5.3       $ 55   
  

 

 

   

 

 

    

 

 

    

 

 

 
Schedule of Fair Value of Stock Options Weighted Average Assumptions

The weighted average fair value of stock options granted during transition period 2014, fiscal year 2014, fiscal year 2013 and fiscal year 2012 were $3.62, $4.22, $3.03 and $4.14 per option, respectively, which were calculated assuming no expected dividend yield using the following weighted average assumptions:

 

     Eight Months Ended
December 31, 2014
    Fiscal Year Ended April 30,  
       2014     2013     2012  

Expected life

     7.00 years        6.79 years        6.82 years        5.50 years   

Risk-free interest rate

     2.15     2.22     1.14     0.82

Expected volatility

     82.76     83.96     84.40     91.54

Summary of Restricted Stock, Restricted Stock Unit and Performance Stock Unit Activity

The following table summarizes restricted stock, restricted stock unit and performance stock unit activity for transition period 2014.

 

    Restricted Stock,
Restricted Stock Units,
and Performance Stock
Units
    Weighted
Average
Grant Price
     Weighted Average
Remaining
Contractual Term
(years)
     Aggregate Intrinsic
Value
 

Outstanding, April 30, 2014 (1)

    1,077      $ 4.77         

Granted

    370      $ 4.91         

Class A Common Stock Vested

    (363   $ 4.89         

Forfeited

    (36   $ 4.44         
 

 

 

         

Outstanding, December 31, 2014 (1)

  1,048    $ 4.79      1.5    $ 24   
 

 

 

   

 

 

    

 

 

    

 

 

 

Expected to vest, December 31, 2014

  694    $ 4.64      1.8    $ 24   
 

 

 

   

 

 

    

 

 

    

 

 

 

 

(1) Outstanding performance stock units are included at the 100% attainment level. As of December 31, 2014, 250 performance stock units, which mature on April 30, 2015, are outstanding. Attainment of maximum annual returns on net assets could result in the issuance of an additional 250 shares of Class A common stock.
Summary of Grant Activity for Other Stock Awards

The following table summarizes the grant activity for other stock awards for transition period 2014, fiscal year 2014, fiscal year 2013 and fiscal year 2012, respectively:

 

     Granted      Weighted
Average
Grant Date
Fair Value
     Unvested at
December 31,
2014
 

Fiscal year 2012 grants

        

Restricted stock units

     305       $ 6.12         —     

Performance stock units

     255       $ 6.06         —     

Restricted stock awards

     51       $ 5.83         —     
  

 

 

       

 

 

 

Total

  611      —     
  

 

 

       

 

 

 

Fiscal year 2013 grants

Restricted stock units

  340    $ 5.15      84   

Performance stock units

  316    $ 5.17      250   

Restricted stock awards

  79    $ 4.45      26   
  

 

 

       

 

 

 

Total

  735      360   
  

 

 

       

 

 

 

Fiscal year 2014 grants

Restricted stock units

  482    $ 4.09      284   

Restricted stock awards

  60    $ 5.81      40   
  

 

 

       

 

 

 

Total

  542      324   
  

 

 

       

 

 

 

Transition period 2014 grants

Restricted stock units

  277    $ 5.28      271   

Restricted stock awards

  93    $ 3.78      93   
  

 

 

       

 

 

 

Total

  370      364   
  

 

 

       

 

 

 
Accumulated Other Comprehensive Income (Loss)

The changes in the balances of each component of accumulated other comprehensive income (loss) for transition period 2014, fiscal year 2014, fiscal year 2013 and fiscal year 2012 are as follows:

 

     Marketable
Securities
    Commodity
Hedges
    Interest
Rate Swaps
    Total  

Balance as of April 30, 2011

   $ 8      $ 370      $ —        $ 378   

Other comprehensive income (loss) before reclassifications

     (4     621        (2,369     (1,752

Amounts reclassified from accumulated other comprehensive income (loss)

     —          (578     —          (578
  

 

 

   

 

 

   

 

 

   

 

 

 

Net current-period other comprehensive loss

  (4   43      (2,369   (2,330
  

 

 

   

 

 

   

 

 

   

 

 

 

Balance as of April 30, 2012

  4      413      (2,369   (1,952

Other comprehensive income (loss) before reclassifications

  23      (1,653   (1,257   (2,887

Amounts reclassified from accumulated other comprehensive income (loss)

  —        621      3,626      4,247   

Net current-period other comprehensive income

  23      (1,032   2,369      1,360   
  

 

 

   

 

 

   

 

 

   

 

 

 

Balance as of April 30, 2013

  27      (619   —        (592
  

 

 

   

 

 

   

 

 

   

 

 

 

Other comprehensive income (loss) before reclassifications

  12      (36   —        (24

Amounts reclassified from accumulated other comprehensive income (loss)

  —        655      —        655   
  

 

 

   

 

 

   

 

 

   

 

 

 

Net current-period other comprehensive income

  12      619      —        631   
  

 

 

   

 

 

   

 

 

   

 

 

 

Balance as of April 30, 2014

  39      —        —        39   

Other comprehensive income (loss) before reclassifications

  19      —        —        19   
  

 

 

   

 

 

   

 

 

   

 

 

 

Net current-period other comprehensive income

  19      —        —        19   
  

 

 

   

 

 

   

 

 

   

 

 

 

Balance as of December 31, 2014

$ 58    $ —      $ —      $ 58   
  

 

 

   

 

 

   

 

 

   

 

 

Reclassification Out of Accumulated Other Comprehensive Income (Loss)

A summary of reclassifications out of accumulated other comprehensive income (loss) for transition period 2014, fiscal year 2014, fiscal year 2013 and fiscal year 2012 is as follows:

 

  Eight Months
Ended
December 31,
2014
  Fiscal Year Ended
April 30,
   
  2014   2013   2012    

Details About Accumulated Other
Comprehensive Income (Loss) Components

Amount Reclassified Out of
Accumulated Other
Comprehensive Income (Loss)
 

Affected Line Item in the Consolidated
Statements of Operations

Loss on derivative instruments:

Commodity Hedges

$ —      $ —      $ —      $ 130    Revenues

GreenFiber Commodity hedges

  —        (405   (621   547    Loss from equity method investments

Interest rate contracts

  —        —        (3,626   —      Loss (gain) on derivative instruments
 

 

 

   

 

 

   

 

 

   

 

 

   
  —        (405   (4,247   677   

Loss from continuing operations before income taxes and discontinued operations

  —        (250   —        (99 Provision (benefit) for income taxes
 

 

 

   

 

 

   

 

 

   

 

 

   
$ —      $ (655 $ (4,247 $ 578    Loss from continuing operations