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Fair Value Of Financial Instruments | 6 Months Ended
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Oct. 31, 2012
Fair Value Disclosures [Abstract] |
Fair Value Of Financial Instruments | 9. Fair Value of Financial Instruments The carrying amounts and estimated fair values of our financial instruments are as follows:
|  |  |  |  |  |  |  |  |  |  |  |  | (in 000s)
As of |  | October 31, 2012 |  |  | April 30, 2012 |  |
|  | Carrying |  |  | Estimated |  |  | Carrying |  |  | Estimated |  | Fair Value
|  | Amount |  |  | Fair Value |  |  | Amount |  |  | Fair Value |  | Hierarchy
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 1,260,901 |  | $ | 1,260,901 |  | $ | 1,944,334 |  | $ | 1,944,334 |  | Level 1
Cash and cash equivalents – restricted |  | 38,667 |  |  | 38,667 |  |  | 48,100 |  |  | 48,100 |  | Level 1
Receivables, net – short-term |  | 124,511 |  |  | 124,511 |  |  | 193,858 |  |  | 193,858 |  | Level 1
Mortgage loans held for investment, net |  | 370,850 |  |  | 226,885 |  |  | 406,201 |  |  | 248,535 |  | Level 3
Investments in available-for- sale securities |  | 389,654 |  |  | 389,654 |  |  | 372,352 |  |  | 372,352 |  | Level 2
Receivables, net – long-term |  | 134,359 |  |  | 134,359 |  |  | 127,468 |  |  | 127,468 |  | Level 1 & 3
Note receivable (including interest) |  | 58,049 |  |  | 64,508 |  |  | 55,444 |  |  | 55,444 |  | Level 3
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | 795,519 |  |  | 795,227 |  |  | 833,047 |  |  | 831,251 |  | Level 1 & 3
Long-term debt |  | 1,506,803 |  |  | 1,540,333 |  |  | 1,040,549 |  |  | 1,077,223 |  | Level 3
Fair value estimates, methods and assumptions are set forth below. The fair value was not estimated for assets and liabilities that are not considered financial instruments.
§ | Cash and cash equivalents, including restricted – Fair value approximates the carrying amount.
§ | Receivables - short-term – For short-term balances, t he carrying values reported in the balance sheet approximate fair market value due to the relative short-term nature of the respective instruments.
§ | Mortgage loans held for investment, net – The fair value of mortgage loans held for investment is determined using market pricing sources based on projected future cash flows of each individual asset, and loan characteristics including channel and performance characteristics.
§ | Investments in available-for-sale securities – We use a third-party pricing service to determine fair value. The service’s pricing model is based on market data and utilizes available trade, bid and other market information for similar securities.
§ | Receivables - long-term – T he carrying values for the long-term portion of loans to franchisees approximate fair market value due to the variable interest rates (Level 1). Long-term EA receivables are carried at net realizable value which approximates fair value (Level 3). Net realizable value is determined based on historical collection rates.
§ | Note receivable – The fair value of the long-term note receivable from M cGladrey & P ullen LLP (M&P) assumes no prepayment and is determined using market pricing sources for similar instruments based on projected future cash flows.
§ | Deposits – The fair value of deposits with no stated maturity such as non-interest-bearing demand deposits, checking, money market and savings accounts i s equal to the amount payable on demand (Level 1). The fair value of IRAs and other time deposits is estimated by discounting the future cash flows using the rates currently offered by HRB Bank for products with similar remaining maturities (Level 3).
Long-term debt – The fair value of borrowings is based on rates currently available to us for obligations with similar terms and maturities, including current market yields on our Senior Notes.

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- Definition The entire disclosure of the fair value measurement of assets and liabilities, which includes financial instruments measured at fair value that are classified in shareholders' equity, which may be measured on a recurring or nonrecurring basis. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19279-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19190-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 33 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 10 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 6 -Footnote 4 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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