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Derivative Financial Instruments (Tables) | 9 Months Ended
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Jan. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Outstanding derivative contracts | The following table presents the gross notional value of outstanding derivative contracts.
| January 31, 2022 |  | April 30, 2021
Commodity contracts | $ | 969.1 |  |  | $ | 861.0 |
Foreign currency exchange contracts | 85.6 |  |  | 88.4 |
Fair value of derivative instruments | The following tables set forth the gross fair value amounts of derivative instruments recognized in the Condensed Consolidated Balance Sheets.
| January 31, 2022
| Other Current Assets |  | Other Current Liabilities |  | Other Noncurrent Assets |  | Other Noncurrent Liabilities
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |
Commodity contracts | $ | 30.8 |  |  | $ | 12.9 |  |  | $ | — |  |  | $ | — |
Foreign currency exchange contracts | 1.3 |  |  | 0.1 |  |  | — |  |  | — |
Total derivative instruments | $ | 32.1 |  |  | $ | 13.0 |  |  | $ | — |  |  | $ | — |
| April 30, 2021
| Other Current Assets |  | Other Current Liabilities |  | Other Noncurrent Assets |  | Other Noncurrent Liabilities
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |
Commodity contracts | $ | 52.6 |  |  | $ | 13.2 |  |  | $ | — |  |  | $ | — |
Foreign currency exchange contracts | 0.1 |  |  | 3.7 |  |  | — |  |  | — |
Total derivative instruments | $ | 52.7 |  |  | $ | 16.9 |  |  | $ | — |  |  | $ | — |
Net gains and losses recognized in costs of products sold on derivatives not designated as hedging instruments | The following table presents the net gains and losses recognized in cost of products sold on derivatives not designated as hedging instruments.
| Three Months Ended January 31, |  | Nine Months Ended January 31,
| 2022 |  | 2021 |  | 2022 |  | 2021
Derivative gains (losses) on commodity contracts | $ | 12.4 |  |  | $ | 38.0 |  |  | $ | 39.1 |  |  | $ | 62.8 |
Derivative gains (losses) on foreign currency exchange contracts | 2.1 |  |  | (2.6) |  |  | 3.4 |  |  | (5.3) |
Total derivative gains (losses) recognized in cost of products sold | $ | 14.5 |  |  | $ | 35.4 |  |  | $ | 42.5 |  |  | $ | 57.5 |
Schedule of net cumulative unallocated derivative gains (losses) | The following table presents the net change in cumulative unallocated derivative gains and losses.
| Three Months Ended January 31, |  | Nine Months Ended January 31,
| 2022 |  | 2021 |  | 2022 |  | 2021
Net derivative gains (losses) recognized and classified as unallocated | $ | 14.5 |  |  | $ | 35.4 |  |  | $ | 42.5 |  |  | $ | 57.5 |
Less: Net derivative gains (losses) reclassified to segment operating profit | 36.9 |  |  | 1.6 |  |  | 80.4 |  |  | (24.0) |
Change in net cumulative unallocated derivative gains and losses | $ | (22.4) |  |  | $ | 33.8 |  |  | $ | (37.9) |  |  | $ | 81.5 |
Pre-tax gains and losses recognized on all contracts previously designated as cash flow hedges | The following table presents information on the pre-tax gains and losses recognized on all contracts previously designated as cash flow hedges.
| Three Months Ended January 31, |  | Nine Months Ended January 31,
| 2022 |  | 2021 |  | 2022 |  | 2021
Gains (losses) recognized in other comprehensive income (loss) | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Less: Gains (losses) reclassified from accumulated other comprehensive income (loss) to interest expense – net (A) | (3.4) |  |  | (3.5) |  |  | (10.4) |  |  | (10.4) |
Less: Gains (losses) reclassified from accumulated other comprehensive income (loss) to other income (expense) – net (B) | — |  |  | — |  |  | 0.6 |  |  | — |
Change in accumulated other comprehensive income (loss) | $ | 3.4 |  |  | $ | 3.5 |  |  | $ | 9.8 |  |  | $ | 10.4 |
(A)Interest expense – net, as presented in the Condensed Statements of Consolidated Income was $39.5 and $43.5 for the three months ended January 31, 2022 and 2021, respectively, and was $122.9 and $134.7 for the nine months ended January 31, 2022 and 2021, respectively. (B)Other expense – net, as presented in the Condensed Statements of Consolidated Income was $1.5 and $1.2 for the three months ended January 31, 2022 and 2021, respectively, and was $15.3 and $34.8 for the nine months ended January 31, 2022 and 2021, respectively. The reclassification is related to the debt extinguishment during the first quarter of 2022, as discussed in Note 8: Debt and Financing Arrangements.

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- Definition Schedule of amount of net gains and losses reported in cost of products sold in the statement of financial performance on derivative instruments not designated as qualified hedging instruments. + References No definition available. + Details
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- Definition Schedule of activity related to the net mark-to-market valuation of commodity and foreign exchange derivatives recognized in unallocated derivative losses and gains. + References No definition available. + Details
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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959 + Details
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