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Income Taxes (Tables)

12 Months Ended

Apr. 30, 2015

Income Tax Disclosure [Abstract]

Income (loss) before income taxes

		Year Ended April 30,
		2015				2014				2013
Domestic		$	500.7			$	827.4			$	791.9
Foreign			22.3				22.3				25.4
Income before income taxes		$	523.0			$	849.7			$	817.3

Components of the provision for income taxes

		Year Ended April 30,
		2015				2014				2013
Current:
Federal		$	147.8			$	265.4			$	262.1
Foreign			4.7				4.2				6.1
State and local			17.9				22.9				20.5
Deferred:
Federal			2.3				(13.9)				(15.6)
Foreign			0.5				2.4				0.9
State and local			4.9				3.5				(0.9)
Total income tax expense		$	178.1			$	284.5			$	273.1

Reconciliation of the statutory federal income tax rate and the effective income tax rate

		Year Ended April 30,
Percent of Pretax Income		2015				2014				2013
Statutory federal income tax rate			35.0	%			35.0	%			35.0	%
State and local income taxes			2.4				1.9				1.8
Domestic manufacturing deduction			(2.9)				(3.0)				(3.1)
Other items – net			(0.4)				(0.4)				(0.3)
Effective income tax rate			34.1	%			33.5	%			33.4	%
Income taxes paid		$	199.3			$	294.4			$	279.2

Deferred tax assets and liabilities

		April 30,
		2015				2014
Deferred tax liabilities:
Intangible assets		$	2,499.4			$	1,028.7
Property, plant, and equipment			158.0				94.5
Other			9.6				19.4
Total deferred tax liabilities		$	2,667.0			$	1,142.6
Deferred tax assets:
Post-employment and other employee benefits		$	143.4			$	103.3
Tax credit and loss carryforwards			44.8				—
Intangible assets			22.1				7.6
Inventory			11.6				—
Property, plant, and equipment			19.4				—
Other			32.9				29.8
Total deferred tax assets		$	274.2			$	140.7
Valuation allowance			(4.2)				—
Total deferred tax assets, less allowance		$	270.0			$	140.7
Net deferred tax liability		$	2,397.0			$	1,001.9

Summary of operating loss and tax credit carryforwards

		Related Tax Deduction				Deferred Tax Asset				Valuation Allowance				Expiration Date
Tax carryforwards:
Federal loss carryforwards		$	104.6			$	36.6			$	4.2				2035
State loss carryforwards			119.4				5.9				—				2020 to 2035
Federal tax credit carryforwards			—				0.5				—				2035
State tax credit carryforwards			—				1.8				—				2021
Total tax carryforwards		$	224.0			$	44.8			$	4.2

Reconciliation of unrecognized tax benefits

		2015				2014				2013
Balance at May 1,		$	29.1			$	29.7			$	24.0
Increases:
Current year tax positions			2.4				5.1				4.8
Prior year tax positions			1.2				0.1				2.5
Acquired businesses			13.4				—				—
Decreases:
Prior year tax positions			0.4				1.6				0.2
Settlement with tax authorities			—				1.5				1.0
Expiration of statute of limitations periods			0.7				2.7				0.4
Balance at April 30,		$	45.0			$	29.1			$	29.7

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of the change in unrecognized tax benefits, excluding amounts pertaining to examined tax returns.

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