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DISCONTINUED OPERATIONS | 6 Months Ended
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Oct. 31, 2018
Discontinued Operations and Disposal Groups [Abstract] |
DISCONTINUED OPERATIONS | DISCONTINUED OPERATIONS We report in discontinued operations the results of operations and the related gains or losses on the sales of properties that have either been disposed of or classified as held for sale and meet the classification of a discontinued operation as described in ASC 205, "Presentation of Financial Statements," and ASC 360, "Property, Plant, and Equipment: Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity." Under this standard, a disposal (or classification as held for sale) of a component of an entity or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. We classified no new dispositions or properties held for sale as discontinued operations during the three and six months ended October 31, 2018 and 2017. 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, 2018 and 2017, respectively:
| (in thousands)
| Three Months Ended October 31, |  | Six Months Ended October 31,
| 2018 |  | 2017 |  | 2018 |  | 2017
REVENUE | $ | — |  |  | $ | 12,047 |  |  | $ | — |  |  | $ | 24,002 |
EXPENSES |  |  |  |  |  |  |  |  |  |  |
Property operating expenses, excluding real estate taxes | — |  |  | 2,387 |  |  | — |  |  | 4,644 |
Real estate taxes | — |  |  | 1,946 |  |  | — |  |  | 3,907 |
Property management | — |  |  | 68 |  |  | — |  |  | 140 |
Depreciation and amortization | — |  |  | 3,424 |  |  | — |  |  | 7,013 |
General and administrative | — |  |  | 15 |  |  | — |  |  | 15 |
TOTAL EXPENSES | $ | — |  |  | $ | 7,840 |  |  | $ | — |  |  | $ | 15,719 |
Operating income (loss) | — |  |  | 4,207 |  |  | — |  |  | 8,283 |
Interest expense | — |  |  | (1,436 | ) |  | — |  |  | (3,421 | )
Loss on extinguishment of debt | — |  |  | (6 | ) |  | — |  |  | (6 | )
Interest income | — |  |  | 117 |  |  | — |  |  | 661 |
Other income | — |  |  | 10 |  |  | — |  |  | 60 |
Income (loss) from discontinued operations before gain (loss) on sale | — |  |  | 2,892 |  |  | — |  |  | 5,577 |
Gain (loss) on sale of discontinued operations | — |  |  | 12,238 |  |  | 570 |  |  | 12,238 |
INCOME (LOSS) FROM DISCONTINUED OPERATIONS | $ | — |  |  | $ | 15,130 |  |  | $ | 570 |  |  | $ | 17,815 |
As of October 31, 2018 and April 30, 2018, we had no assets or liabilities classified as held for sale.

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- References No definition available. + Details
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- Definition The entire disclosure 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
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