XML 28 R18.htm IDEA: XBRL DOCUMENT v3.20.4
GENERAL AND ADMINISTRATIVE EXPENSES
 9 Months Ended
Jan. 31, 2021
GENERAL AND ADMINISTRATIVE EXPENSES  
GENERAL AND ADMINISTRATIVE EXPENSES

(10)          GENERAL AND ADMINISTRATIVE EXPENSES

 

General and administrative expenses consist of:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine months Ended 

 

 

January 31,

 

January 31,

 

    

2021

    

2020

 

2021

    

2020

 

 

(in thousands)

 

(in thousands)

Land development

 

$

829

 

$

564

 

$

1,826

 

$

1,826

Homebuilding

 

 

137

 

 

 —

 

 

368

 

 

12

Corporate

 

 

376

 

 

494

 

 

2,112

 

 

4,907

 

 

$

1,342

 

$

1,058

 

$

4,306

 

$

6,745

 

Corporate general and administrative expenses included a non-cash pre-tax pension settlement charge of $2,929,000 in the nine months ended January 31, 2020, due to the Company’s defined benefit pension plan paying an aggregate of $7,280,000 in lump sum payouts of pension benefits to former employees. No such settlement expense was incurred in 2021.