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Long-term Debt and Fair Value Disclosure
6 Months Ended
Oct. 31, 2017
Long-Term Debt and Fair Value Disclosure [Abstract]  
Long-term Debt and Fair Value Disclosure
Long-Term Debt and Fair Value Disclosure
On June 13, 2017, the Company issued $150 million aggregate principal amount of 3.51% Senior Notes due June 13, 2025, and on August 22, 2017, the Company issued $250 million aggregate principal amount of 3.77% Senior Notes due August 22, 2028. The fair value of the Company’s long-term debt is estimated based on the current rates offered to the Company for debt of the same or similar issues. The fair value of the Company’s long-term debt was approximately $1,320,000 and $941,000 at October 31, 2017 and April 30, 2017, respectively. The Company has an aggregate $100,000 line of credit with $0 outstanding at October 31, 2017 and $900 outstanding at April 30, 2017.