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FAIR VALUE MEASUREMENTS (Tables) | 3 Months Ended
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Jul. 31, 2016
FAIR VALUE MEASUREMENTS [Abstract] |
Fair Value Measurements on a Nonrecurring Basis | The aggregate fair value of these assets by their levels in the fair value hierarchy is as follows:
|  | (in thousands) |
|  | Total |  | Level 1 |  | Level 2 |  | Level 3 |
July 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate investments |  | $ | 35,281 |  | $ | — |  | $ | — |  | $ | 35,281 |
April 30, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate held for sale |  | $ | 6,650 |  | $ | — |  | $ | — |  | $ | 6,650 |
Estimated Fair Values of Financial Instruments | The estimated fair values of our financial instruments as of July 31, 2016 and April 30, 2016, are as follows:
|  | (in thousands) |
|  | July 31, 2016 |  | April 30, 2016 |
|  | Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value |
FINANCIAL ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 54,438 |  | $ | 54,438 |  | $ | 66,698 |  | $ | 66,698 |
FINANCIAL LIABILITIES |  |  |  |  |  |  |  |  |  |  |  |  |
Other debt |  |  | 78,383 |  |  | 78,383 |  |  | 82,026 |  |  | 82,026 |
Lines of credit |  |  | 17,500 |  |  | 17,500 |  |  | 17,500 |  |  | 17,500 |
Mortgages payable |  |  | 816,626 |  |  | 884,809 |  |  | 817,324 |  |  | 866,649 |
Mortgages payable related to assets held for sale |  |  | 67,794 |  |  | 79,632 |  |  | 68,824 |  |  | 78,690 |

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19296-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258 + Details
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