(13) OTHER INCOME

Other income consists of:


	Three Months Ended				Nine months Ended
	January 31,				January 31,
	2021		2020		2021		2020
	(in thousands)				(in thousands)
Settlement payment	$	—	$	—	$	650	$	—
Forgiveness of debt		300		—		300		—
	$	300	$	—	$	950	$	—

Settlement Payment. Other income for the nine months ended January 31, 2021 included a settlement payment of $650,000 from a former business segment of the Company. Refer to Note 2 to the consolidated financial statements contained in the 2020 Form 10-K for detail regarding the former business segment of the Company. During the nine months ended January 31, 2021, affiliates of the Company and affiliates of this former business segment entered into a settlement agreement pursuant to which, among other things, the Company received $650,000 as a settlement payment and $350,000 for rent with respect to properties in Palm Coast, Florida for the period May 2020 through August 2020.

Forgiveness of Debt. Other income for the three and nine months ended January 31, 2021 included income from forgiveness of debt with respect to the loan received by the Company pursuant to the Paycheck Protection Program administered by the U.S. Small Business Administration. Refer to Note 7 of the notes to these consolidated financial statements for detail regarding this debt forgiveness.