v3.25.0.1
Leases (Tables)
 9 Months Ended
Jan. 31, 2025
Leases [Abstract]  
Right-of-use assets and lease liabilities recognized in the Condensed Consolidated Balance Sheets
The following table sets forth the right-of-use assets and lease liabilities recognized in the Condensed Consolidated Balance Sheets.
January 31, 2025April 30, 2024
Operating lease right-of-use assets$121.4 $174.6 
Operating lease liabilities:
Current operating lease liabilities$38.0 $40.5 
Noncurrent operating lease liabilities
89.8 143.5 
Total operating lease liabilities$127.8 $184.0 
Finance lease right-of-use assets:
Machinery and equipment
$22.8 $18.7 
Accumulated depreciation
(12.1)(8.0)
Total property, plant, and equipment$10.7 $10.7 
Finance lease liabilities:
Other current liabilities
$3.1 $2.8 
Other noncurrent liabilities
8.1 8.3 
Total finance lease liabilities$11.2 $11.1 
Components of lease expense
The following table summarizes the components of lease expense.
Three Months Ended January 31,Nine Months Ended January 31,
2025202420252024
Operating lease cost$11.0 $13.1 $35.5 $37.0 
Finance lease cost:
Amortization of right-of-use assets 0.9 0.7 2.5 2.7 
Interest on lease liabilities
0.2 0.1 0.5 0.4 
Variable lease cost3.9 6.4 16.2 17.6 
Short-term lease cost9.4 11.8 33.3 32.4 
Total lease cost (A)
$25.4 $32.1 $88.0 $90.1 
(A)Total lease cost does not include sublease income which is immaterial for all years presented.
Cash flow and noncash information related to leases
The following table sets forth cash flow and noncash information related to leases.
Nine Months Ended January 31,
20252024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases
$36.5 $36.9 
Operating cash flows from finance leases 0.4 0.4 
Financing cash flows from finance leases
2.6 2.6 
Right-of-use assets obtained in exchange for new lease liabilities:
Operating leases8.7 91.9 
Finance leases
2.6 8.0 
Maturity of operating lease liabilities by fiscal year
The following table summarizes the maturity of our lease liabilities by fiscal year.
January 31, 2025
Operating LeasesFinance Leases
2025 (remainder of the year)$10.6 $0.9 
202641.2 3.4 
202721.4 3.1 
202812.3 2.9 
202910.9 1.5 
2030 and beyond 52.9 0.5 
Total undiscounted minimum lease payments $149.3 $12.3 
Less: Imputed interest21.5 1.1 
Lease liabilities $127.8 $11.2 
Maturity of finance lease liabilities by fiscal year
The following table summarizes the maturity of our lease liabilities by fiscal year.
January 31, 2025
Operating LeasesFinance Leases
2025 (remainder of the year)$10.6 $0.9 
202641.2 3.4 
202721.4 3.1 
202812.3 2.9 
202910.9 1.5 
2030 and beyond 52.9 0.5 
Total undiscounted minimum lease payments $149.3 $12.3 
Less: Imputed interest21.5 1.1 
Lease liabilities $127.8 $11.2 
Weighted average remaining lease term and discount rate
The following table sets forth the weighted average remaining lease term and discount rate.
January 31, 2025April 30, 2024
Weighted average remaining lease term (in years):
Operating leases
6.16.2
Finance leases 3.84.3
Weighted average discount rate:
Operating leases4.6 %4.3 %
Finance leases
5.0 %4.8 %