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Derivative Instruments and Hedging Activities (Tables) | 6 Months Ended
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Oct. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments | The following table summarizes our interest rate swaps designated as cash flow hedges:
|  |  | Notional Amount |  |
Hedged Item | Date entered into | Nature of Swap | October 31, 2024 | April 30, 2024 | Fixed Interest Rate | Variable Interest Rate
Amended and Restated CA | May 15, 2024 | Pay fixed/receive variable | $ | 50,000 |  | $ | — |  | 4.288 | % | 1-month SOFR reset every month for a 3-year period ending July 15, 2027
Amended and Restated CA (1) | April 09, 2024 | Pay fixed/receive variable | 50,000 |  | 50,000 |  | 4.243 | % | 1-month SOFR reset every month for a 3-year period ending July 15, 2027
Amended and Restated CA | January 31, 2024 | Pay fixed/receive variable | 50,000 |  | 50,000 |  | 3.700 | % | 1-month SOFR reset every month for a 3-year period ending April 15, 2027
Amended and Restated CA | January 24, 2024 | Pay fixed/receive variable | 50,000 |  | 50,000 |  | 3.774 | % | 1-month SOFR reset every month for a 3-year period ending April 15, 2027
Amended and Restated CA | January 05, 2024 | Pay fixed/receive variable | 50,000 |  | 50,000 |  | 3.689 | % | 1-month SOFR reset every month for a 3-year period ending April 15, 2027
Amended and Restated CA | December 19, 2023 | Pay fixed/receive variable | 50,000 |  | 50,000 |  | 3.850 | % | 1-month SOFR reset every month for a 3-year period ending January 15, 2027
Amended and Restated CA | March 15, 2023 | Pay fixed/receive variable | 50,000 |  | 50,000 |  | 3.565 | % | 1-month SOFR reset every month for a 3-year period ending April 15, 2026
Amended and Restated CA | March 14, 2023 | Pay fixed/receive variable | 50,000 |  | 50,000 |  | 4.053 | % | 1-month SOFR reset every month for a 3-year period ending March 15, 2026
Amended and Restated CA | March 13, 2023 | Pay fixed/receive variable | 50,000 |  | 50,000 |  | 3.720 | % | 1-month SOFR reset every month for a 3-year period ending March 15, 2026
Amended and Restated CA | December 13, 2022 | Pay fixed/receive variable | 50,000 |  | 50,000 |  | 3.772 | % | 1-month SOFR reset every month for a 3-year period ending December 15, 2025
Amended and Restated CA | June 16, 2022 | Pay fixed/receive variable | — |  | 100,000 |  | 3.467 | % | 1-month SOFR reset every month for a 2-year period ending May 15, 2024
| $ | 500,000 |  | $ | 550,000 |  |  |
(1) | As of April 30, 2024, this interest rate swap agreement was considered a forward starting contract as the effective date was July 15, 2024.
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location | The fair value of our interest rate swaps designated as cash flow hedges are reflected on our Unaudited Condensed Consolidated Statements of Financial Position as follows:
Asset (Liability) |  | Balance Sheet Location | October 31, 2024 |  | April 30, 2024
Current asset portion |  | Prepaid expenses and other current assets | $ | — |  |  | $ | 154 |
Non-current asset portion |  | Other non-current assets | 1,296 |  |  | 9,686 |
Non-current liability portion |  | Other long-term liabilities | (1,114) |  |  | — |
Total cash flow hedges |  |  | $ | 182 |  |  | $ | 9,840 |
Reclassification out of Accumulated Other Comprehensive Income | The effect of our interest rate swaps on our Unaudited Condensed Consolidated Statements of Other Comprehensive Income (Loss) and Unaudited Condensed Consolidated Statements of Net Income (Loss) are as follows:
|  | Three Months Ended October 31, |  | Six Months Ended October 31,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
Amount of pretax gains (losses) recognized in Other comprehensive income (loss) |  | $ | 210 |  |  | $ | 1,801 |  |  | $ | (6,150) |  |  | $ | 8,092 |
Amount of pretax gains reclassified from Accumulated other comprehensive loss into Interest expense |  | $ | 1,656 |  |  | $ | 3,186 |  |  | $ | 3,371 |  |  | $ | 6,071 |

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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 815 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1B Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-5 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C + Details
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