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DISCONTINUED OPERATIONS (Tables) | 6 Months Ended
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Oct. 31, 2016
DISCONTINUED OPERATIONS [Abstract] |
Effect on Net Income and Gains or Losses From Sale Of Properties Classified as Discontinued Operations | The following information shows the effect on net income and the gains or losses from the sales of properties classified as discontinued operations for the three and six months ended October 31, 2016 and 2015:
|  | (in thousands) |
|  | Three Months Ended |  | Six Months Ended |
|  | October 31, |  | October 31, |
|  | 2016 |  | 2015 |  | 2016 |  | 2015 |
REVENUE |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate rentals |  | $ | 4,992 |  | $ | 9,703 |  | $ | 10,002 |  | $ | 28,143 |
Tenant reimbursement |  |  | 112 |  |  | 1,486 |  |  | 226 |  |  | 7,751 |
TRS senior housing revenue |  |  | 916 |  |  | 965 |  |  | 1,789 |  |  | 2,003 |
TOTAL REVENUE |  |  | 6,020 |  |  | 12,154 |  |  | 12,017 |  |  | 37,897 |
EXPENSES |  |  |  |  |  |  |  |  |  |  |  |  |
Property operating expenses, excluding real estate taxes |  |  | — |  |  | 2,668 |  |  | — |  |  | 8,768 |
Real estate taxes |  |  | (112) |  |  | 1,269 |  |  | — |  |  | 4,789 |
Depreciation and amortization |  |  | — |  |  | 2,498 |  |  | 16 |  |  | 9,587 |
Impairment of real estate investments |  |  | — |  |  | — |  |  | — |  |  | 440 |
TRS senior housing expenses |  |  | 769 |  |  | 812 |  |  | 1,553 |  |  | 1,581 |
TOTAL EXPENSES |  |  | 657 |  |  | 7,247 |  |  | 1,569 |  |  | 25,165 |
Operating income |  |  | 5,363 |  |  | 4,907 |  |  | 10,448 |  |  | 12,732 |
Interest expense(1) |  |  | (1,395) |  |  | (5,021) |  |  | (2,769) |  |  | (12,168) |
Gain/Loss on extinguishment of debt(1) |  |  | (72) |  |  | (7,120) |  |  | (72) |  |  | (7,120) |
Other income |  |  | — |  |  | 203 |  |  | — |  |  | 273 |
Income from discontinued operations before gain on sale |  |  | 3,896 |  |  | (7,031) |  |  | 7,607 |  |  | (6,283) |
Gain on sale of discontinued operations |  |  | 6,503 |  |  | 23,910 |  |  | 6,503 |  |  | 23,910 |
INCOME FROM DISCONTINUED OPERATIONS |  | $ | 10,399 |  | $ | 16,879 |  | $ | 14,110 |  | $ | 17,627 |
| (1) |  | Interest expense for the three and six months ended October 31, 2015 includes $1.6 million and $3.1 million, respectively of default interest related to a $122.6 million non-recourse loan by one of our subsidiaries. In the third quarter of fiscal year 2016, ownership of the nine properties serving as collateral on the loan was transferred to the mortgage lender and the debt obligation and accrued interest was removed from our balance sheet.

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- Definition Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721665-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1474-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1361-107760 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721683-107760 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=51719941&loc=SL51724579-110230 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721675-107760 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721663-107760 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721659-107760 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721671-107760 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5D -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721677-107760 + Details
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