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Leases
 6 Months Ended
Oct. 31, 2021
Leases [Abstract]  
Leases Leases
In accordance with ASC 842, "Leases," the Company recognizes lease assets and lease liabilities reflecting the rights and obligations created by operating type leases for real estate and equipment in both the U.S. and internationally and a financing lease for a truck in the U.S. At October 31, 2021 and April 30, 2021, right-of-use assets totaled $8,454,000 and $9,279,000, respectively. Operating cash paid to settle lease liabilities was $1,006,000 and $848,000 for the six months ended October 31, 2021 and October 31, 2020, respectively. The Company's leases have remaining lease terms of up to 8 years. In addition, some of the leases may include options to extend the leases for up to 5 years or options to terminate the leases within 1 year. Operating lease expenses were $707,000 and $1,555,000 for the three and six months ended October 31, 2021, respectively, inclusive of period cost for short-term leases, not included in lease liabilities, of $201,000 and $549,000, respectively. Operating lease expenses were $683,000 and $1,315,000 for the three and six months ended October 31, 2020, respectively, inclusive of period cost for short-term leases, not included in lease liabilities, of $245,000 and $467,000, respectively.
At October 31, 2021, the weighted average remaining lease term for the capitalized operating leases was 5.7 years and the weighted average discount rate was 4.1%. For the financing lease, the remaining lease term was 3.8 years and the discount rate was 10.0%. As most of the Company's leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of those lease payments. The Company uses the implicit rate when readily determinable.
Future minimum lease payments under non-cancelable leases as of October 31, 2021, excluding the future minimum lease payments for those leases that have not yet commenced as of October 31, 2021, were as follows:
OperatingFinancing
Remainder of fiscal 2022$1,005 $16 
20231,840 32 
20241,484 32 
20251,440 32 
20261,230 12 
Thereafter2,858 — 
Total Minimum Lease Payments9,857 124 
Imputed Interest(1,470)(22)
Total$8,387 $102 
As of October 31, 2021, the Company has entered into a new lease that has not yet commenced with future minimum lease payments of $219,000 that are not yet reflected on the Condensed Consolidated Balance Sheets. This lease is expected to commence in the second half of fiscal year 2022 with a lease term of 5 years.
Leases Leases
In accordance with ASC 842, "Leases," the Company recognizes lease assets and lease liabilities reflecting the rights and obligations created by operating type leases for real estate and equipment in both the U.S. and internationally and a financing lease for a truck in the U.S. At October 31, 2021 and April 30, 2021, right-of-use assets totaled $8,454,000 and $9,279,000, respectively. Operating cash paid to settle lease liabilities was $1,006,000 and $848,000 for the six months ended October 31, 2021 and October 31, 2020, respectively. The Company's leases have remaining lease terms of up to 8 years. In addition, some of the leases may include options to extend the leases for up to 5 years or options to terminate the leases within 1 year. Operating lease expenses were $707,000 and $1,555,000 for the three and six months ended October 31, 2021, respectively, inclusive of period cost for short-term leases, not included in lease liabilities, of $201,000 and $549,000, respectively. Operating lease expenses were $683,000 and $1,315,000 for the three and six months ended October 31, 2020, respectively, inclusive of period cost for short-term leases, not included in lease liabilities, of $245,000 and $467,000, respectively.
At October 31, 2021, the weighted average remaining lease term for the capitalized operating leases was 5.7 years and the weighted average discount rate was 4.1%. For the financing lease, the remaining lease term was 3.8 years and the discount rate was 10.0%. As most of the Company's leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of those lease payments. The Company uses the implicit rate when readily determinable.
Future minimum lease payments under non-cancelable leases as of October 31, 2021, excluding the future minimum lease payments for those leases that have not yet commenced as of October 31, 2021, were as follows:
OperatingFinancing
Remainder of fiscal 2022$1,005 $16 
20231,840 32 
20241,484 32 
20251,440 32 
20261,230 12 
Thereafter2,858 — 
Total Minimum Lease Payments9,857 124 
Imputed Interest(1,470)(22)
Total$8,387 $102 
As of October 31, 2021, the Company has entered into a new lease that has not yet commenced with future minimum lease payments of $219,000 that are not yet reflected on the Condensed Consolidated Balance Sheets. This lease is expected to commence in the second half of fiscal year 2022 with a lease term of 5 years.