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Derivative Financial Instruments (Tables) | 6 Months Ended
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Oct. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Outstanding derivative contracts | The following table presents the gross notional value of outstanding derivative contracts.
| October 31, 2025 |  | April 30, 2025
Commodity contracts | $ | 1,281.4 |  |  | $ | 1,698.1 |
Foreign currency exchange contracts | 88.3 |  |  | 122.4 |
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.
| October 31, 2025
| Other Current Assets |  | Other Current Liabilities |  | Other Noncurrent Assets |  | Other Noncurrent Liabilities
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |
Commodity contracts | $ | 13.3 |  |  | $ | 61.9 |  |  | $ | — |  |  | $ | — |
Foreign currency exchange contracts | 1.3 |  |  | 0.2 |  |  | — |  |  | — |
Total derivative instruments | $ | 14.6 |  |  | $ | 62.1 |  |  | $ | — |  |  | $ | — |
| April 30, 2025
| Other Current Assets |  | Other Current Liabilities |  | Other Noncurrent Assets |  | Other Noncurrent Liabilities
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |
Commodity contracts | $ | 81.5 |  |  | $ | 18.7 |  |  | $ | — |  |  | $ | — |
Foreign currency exchange contracts | 0.8 |  |  | 1.5 |  |  | — |  |  | — |
Total derivative instruments | $ | 82.3 |  |  | $ | 20.2 |  |  | $ | — |  |  | $ | — |
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 in the Condensed Statements of Consolidated Income (Loss) on derivatives not designated as hedging instruments.
| Three Months Ended October 31, |  | Six Months Ended October 31,
| 2025 |  | 2024 |  | 2025 |  | 2024
Derivative gains (losses) on commodity contracts | $ | 59.8 |  |  | $ | 20.6 |  |  | $ | (167.9) |  |  | $ | (9.4) |
Derivative gains (losses) on foreign currency exchange contracts | 1.0 |  |  | 1.5 |  |  | 1.6 |  |  | 1.7 |
Total derivative gains (losses) recognized in cost of products sold | $ | 60.8 |  |  | $ | 22.1 |  |  | $ | (166.3) |  |  | $ | (7.7) |
Net cumulative unallocated derivative gains (losses) | The following table presents the net change in cumulative unallocated derivative gains and losses.
| Three Months Ended October 31, |  | Six Months Ended October 31,
| 2025 |  | 2024 |  | 2025 |  | 2024
Net derivative gains (losses) recognized and classified as unallocated | $ | 60.8 |  |  | $ | 22.1 |  |  | $ | (166.3) |  |  | $ | (7.7) |
Less: Net derivative gains (losses) reclassified to segment operating profit | (42.2) |  |  | 10.4 |  |  | (16.2) |  |  | 10.6 |
Change in net cumulative unallocated derivative gains and losses | $ | 103.0 |  |  | $ | 11.7 |  |  | $ | (150.1) |  |  | $ | (18.3) |
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 October 31, |  | Six Months Ended October 31,
| 2025 |  | 2024 |  | 2025 |  | 2024
Gains (losses) recognized in other comprehensive income (loss) | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Less: Gains (losses) reclassified from accumulated other comprehensive income (loss) to interest expense – net (A) | (3.2) |  |  | (3.4) |  |  | (6.3) |  |  | (6.8) |
Change in accumulated other comprehensive income (loss) | $ | 3.2 |  |  | $ | 3.4 |  |  | $ | 6.3 |  |  | $ | 6.8 |
(A)Interest expense – net, as presented in the Condensed Statements of Consolidated Income (Loss) was $98.6 and $98.7 for the three months ended October 31, 2025 and 2024, respectively and, $198.8 and $199.1 for the six months ended October 31, 2025 and 2024. The reclassification includes terminated contracts which were designated as cash flow hedges.

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