Long-term Debt and Finance Lease Obligations, Lines of Credit and Fair Value Disclosure |
3 Months Ended |
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Jul. 31, 2026 | |
| Long-Term Debt and Fair Value Disclosure [Abstract] | |
| Long-term Debt and Finance Lease Obligations, Lines of Credit and Fair Value Disclosure | Long-Term Debt and Finance Lease Obligations, Lines of Credit and Fair Value Disclosure The fair value of the Company’s long-term debt (including current maturities) is estimated based on the current rates offered to the Company for debt of the same or similar issuances which are considered Level 2 inputs within the fair value hierarchy. The fair value of the Company’s long-term debt was approximately $2,219,000 and $2,226,000 at July 31, 2026 and April 30, 2026, respectively. The fair value calculated excludes finance lease obligations of $113,808 and $115,197 outstanding at July 31, 2026 and April 30, 2026, respectively, which are included with long-term debt on the condensed consolidated balance sheets. Interest, net on the condensed consolidated statements of income is net of interest income of $3,548 for the three months ended July 31, 2026, and $2,977 for the three months ended July 31, 2025. Interest, net is also net of interest capitalized of $1,091 for the three months ended July 31, 2026, and $495 for the three months ended July 31, 2025. Revolving Facility The Company has a credit agreement that provides for an $850,000 unsecured revolving credit facility (“Revolving Facility”), which matures on April 21, 2028. Amounts borrowed under the Revolving Facility, bear interest at variable rates based upon, at the Company’s option, either: (a) either Term SOFR or Daily Simple SOFR, in each case plus 0.10% (with a floor of 0.00%) for the interest period in effect, plus an applicable margin ranging from 1.10% to 1.70% or (b) an alternate base rate, which generally equals the highest of (i) the prime commercial lending rate announced by the Administrative Agent as its “prime rate”, (ii) the federal funds rate plus 1/2 of 1.00%, and (iii) Adjusted Daily Simple SOFR plus 1.00%, each plus an applicable margin ranging from 0.10% to 0.70% and each with a floor of 1.00%. The applicable margins and facility fee, in each case, are dependent upon the Company’s quarterly Consolidated Leverage Ratio, as defined in the credit agreement. The Company had $42,625 and $0 outstanding under the Revolving Facility at July 31, 2026 and April 30, 2026, respectively, which is included with long-term debt on the condensed consolidated balance sheets. Bank Line The Company has an additional unsecured bank line of credit (the "Bank Line") with availability of up to $50,000. The Bank Line bears interest at a variable rate subject to change from time to time based on changes in an independent index referred to in the Bank Line as the Federal Funds Offered Rate. There was $0 outstanding under the Bank Line at July 31, 2026 and April 30, 2026. The Bank Line is due upon demand.
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