COMMITMENTS AND CONTINGENCIES |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jul. 31, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| COMMITMENTS AND CONTINGENCIES | (11)COMMITMENTS AND CONTINGENCIES Refer to Note 13 to the consolidated financial statements contained in the 2026 Form 10-K for detail regarding the Company’s warranty reserves, security for performance obligations and litigation. Warranty Reserves. Changes in warranty reserves are as follows (in thousands):
Security for Performance Obligations. As of July 31, 2026, the Company had (a) loan reserves outstanding under its Revolving Line of Credit in the aggregate principal amount of $107,000 in favor of a municipality guarantying the completion of improvements in a subdivision being constructed by the Company and (b) cash collateral of $336,000 on deposit with municipalities. Litigation. The Company has not accrued any amounts related to litigation matters as of July 31, 2026 or July 31, 2025.
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