XML 29 R15.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Leases | 6 Months Ended
--- | ---
Oct. 31, 2022
Leases [Abstract] |
Leases | 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 financing leases for a truck and IT equipment in the U.S. At October 31, 2022 and April 30, 2022, right-of-use assets totaled $9,908,000 and $7,573,000, respectively. Operating cash paid to settle lease liabilities was $1,026,000 and $1,006,000 for the six months ended October 31, 2022 and October 31, 2021, respectively. The Company's leases have remaining lease terms of up to 9 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 $900,000 and $1,734,000 for the three and six months ended October 31, 2022, inclusive of period cost for short-term leases, not included in lease liabilities, of $398,000 and $708,000. Operating lease expenses were $707,000 and $1,555,000 for the three and six months ended October 31, 2021, inclusive of period cost for short-term leases, not included in lease liabilities, of $201,000 and $549,000. At October 31, 2022, the weighted average remaining lease term for the capitalized operating leases was 5.5 years and the weighted average discount rate was 4.9%. For the financing leases, the weighted average remaining lease term was 3.6 years and the weighted average discount rate was 7.0%. 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, 2022 were as follows:
|  | Operating |  | Financing
Remainder of fiscal 2023 |  | $ | 1,213 |  |  | $ | 16 |
2024 |  | 2,254 |  |  | 90 |
2025 |  | 2,100 |  |  | 90 |
2026 |  | 1,915 |  |  | 71 |
2027 |  | 1,652 |  |  | — |
Thereafter |  | 2,500 |  |  | — |
Total Minimum Lease Payments |  | 11,634 |  |  | 267 |
Imputed Interest |  | (1,889) |  |  | (32) |
Total |  | $ | 9,745 |  |  | $ | 235 |
Leases | 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 financing leases for a truck and IT equipment in the U.S. At October 31, 2022 and April 30, 2022, right-of-use assets totaled $9,908,000 and $7,573,000, respectively. Operating cash paid to settle lease liabilities was $1,026,000 and $1,006,000 for the six months ended October 31, 2022 and October 31, 2021, respectively. The Company's leases have remaining lease terms of up to 9 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 $900,000 and $1,734,000 for the three and six months ended October 31, 2022, inclusive of period cost for short-term leases, not included in lease liabilities, of $398,000 and $708,000. Operating lease expenses were $707,000 and $1,555,000 for the three and six months ended October 31, 2021, inclusive of period cost for short-term leases, not included in lease liabilities, of $201,000 and $549,000. At October 31, 2022, the weighted average remaining lease term for the capitalized operating leases was 5.5 years and the weighted average discount rate was 4.9%. For the financing leases, the weighted average remaining lease term was 3.6 years and the weighted average discount rate was 7.0%. 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, 2022 were as follows:
|  | Operating |  | Financing
Remainder of fiscal 2023 |  | $ | 1,213 |  |  | $ | 16 |
2024 |  | 2,254 |  |  | 90 |
2025 |  | 2,100 |  |  | 90 |
2026 |  | 1,915 |  |  | 71 |
2027 |  | 1,652 |  |  | — |
Thereafter |  | 2,500 |  |  | — |
Total Minimum Lease Payments |  | 11,634 |  |  | 267 |
Imputed Interest |  | (1,889) |  |  | (32) |
Total |  | $ | 9,745 |  |  | $ | 235 |

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
Name: | us-gaap_LesseeFinanceLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration