Leases (Tables)
|
9 Months Ended |
Jan. 31, 2022 |
|---|
| Leases [Abstract] |
Ìý
|
| Schedule of Right-of-Use Assets and Operating Lease Liabilities |
ROU assets are summarized below:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
January 31, 2022 |
|
April 30, 2021 |
| ROU assets - Operating facility leases |
|
$ |
15,958,721Ìý |
|
|
$ |
14,308,296Ìý |
|
| Less: accumulated amortization |
|
(2,868,251) |
|
|
(1,593,433) |
|
| Total ROU assets |
|
$ |
13,090,470Ìý |
|
|
$ |
12,714,863Ìý |
|
Operating lease obligations, related to the ROU assets are summarized below:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
January 31, 2022 |
|
April 30, 2021 |
| Total lease liabilities |
|
$ |
22,509,568Ìý |
|
|
$ |
19,946,229Ìý |
|
| Reduction of lease liabilities |
|
(3,085,191) |
|
|
(1,617,600) |
|
| Total operating lease obligations |
|
$ |
19,424,377Ìý |
|
|
$ |
18,328,629Ìý |
|
|
| Future Minimum Payments Under Operating Leases |
The following is a schedule by fiscal years of future minimum lease payments required under operating leases that have initial or remaining non-cancelable lease terms in excess of one year as of JanuaryÌý31, 2022 (a) (by fiscal year).
|
|
|
|
|
|
|
|
|
| Maturity of Lease Obligations |
|
Lease Payments |
| 2022 (remaining) |
|
$ |
1,139,587Ìý |
|
| 2023 |
|
4,142,637Ìý |
|
| 2024 |
|
4,018,977Ìý |
|
| 2025 |
|
3,802,960Ìý |
|
| 2026 |
|
3,908,722Ìý |
|
| Thereafter |
|
11,963,226Ìý |
|
| Total future minimum lease payments |
|
28,976,109Ìý |
|
| ÌýÌýÌýÌýLess: imputed interest |
|
(9,551,732) |
|
| Present value of operating lease liabilities |
|
$ |
19,424,377Ìý |
|
_____________________
(a) Lease payments exclude $3.7 million of legally binding minimum lease payments for the new BSN Pre-Licensure campus location in Atlanta, Georgia for the lease signed but not yet commenced.
|
| Schedule of Balance Sheet Information Related to Leases |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Balance Sheet Classification |
|
January 31, 2022 |
|
April 30, 2021 |
| Operating lease obligations, current portion |
|
$ |
2,106,981Ìý |
|
|
$ |
2,029,821Ìý |
|
| Operating lease obligations, less current portion |
|
17,317,396Ìý |
|
|
16,298,808Ìý |
|
| Total operating lease liabilities |
|
$ |
19,424,377Ìý |
|
|
$ |
18,328,629Ìý |
|
|
| Schedule of Other Information Related to Leases |
|
|
|
|
|
|
|
|
|
| Other Information |
|
January 31, 2022 |
| Weighted average remaining lease term (in years) |
|
6.97 |
| Weighted average discount rate |
|
12Ìý |
% |
|