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Long-Term Debt | 3 Months Ended
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Jul. 31, 2017
Long-term Debt, Unclassified [Abstract] |
Long-term Debt | NOTE 5: LONG-TERM DEBT The components of long-term debt are as follows:
|  |  |  |  |  | (in 000s) |
As of |  | July 31, 2017 |  |  | July 31, 2016 |  |  | April 30, 2017 |
Senior Notes, 4.125%, due October 2020 |  | $ | 650,000 |  |  | $ | 650,000 |  |  | $ | 650,000 |
Senior Notes, 5.500%, due November 2022 |  | 500,000 |  |  | 500,000 |  |  | 500,000 |
Senior Notes, 5.250%, due October 2025 |  | 350,000 |  |  | 350,000 |  |  | 350,000 |
Capital lease obligation |  | 6,368 |  |  | 7,229 |  |  | 6,610 |
Debt issuance costs and discounts |  | (11,954 | ) |  | (14,575 | ) |  | (12,612 | )
|  | 1,494,414 |  |  | 1,492,654 |  |  | 1,493,998 |
Less: Current portion |  | (992 | ) |  | (864 | ) |  | (981 | )
|  | $ | 1,493,422 |  |  | $ | 1,491,790 |  |  | $ | 1,493,017 |
On September 22, 2016, we entered into a First Amended and Restated Credit and Guarantee Agreement (2016 CLOC). The 2016 CLOC provides for an unsecured senior revolving credit facility in the aggregate principal amount of $2.0 billion, which includes a $200.0 million sublimit for swingline loans and a $50.0 million sublimit for standby letters of credit. We may request increases in the aggregate principal amount of the revolving credit facility of up to $500.0 million, subject to obtaining commitments from lenders and meeting certain other conditions. The 2016 CLOC will mature on September 22, 2021, unless extended pursuant to the terms of the 2016 CLOC, at which time all outstanding amounts thereunder will be due and payable. The 2016 CLOC includes an annual facility fee, which will vary depending on our then current credit ratings. The 2016 CLOC is subject to various conditions, triggers, events or occurrences that could result in earlier termination and contains customary representations, warranties, covenants and events of default, including, without limitation: (1) a covenant requiring the Company to maintain a debt-to-EBITDA ratio calculated on a consolidated basis of no greater than (a) 3.50 to 1.00 as of the last day of each fiscal quarter ending on April 30, July 31, and October 31 of each year and (b) 4.50 to 1.00 as of the last day of each fiscal quarter ending on January 31 of each year; (2) a covenant requiring us to maintain an interest coverage ratio (EBITDA-to-interest expense) calculated on a consolidated basis of not less than 2.50 to 1.00 as of the last date of any fiscal quarter; and (3) covenants restricting our ability to incur certain additional debt, incur liens, merge or consolidate with other companies, sell or dispose of assets (including equity interests), liquidate or dissolve, engage in certain transactions with affiliates or enter into certain restrictive agreements. The 2016 CLOC includes provisions for an equity cure which could potentially allow us to independently cure certain defaults. Proceeds under the 2016 CLOC may be used for working capital needs or for other general corporate purposes. We were in compliance with these requirements as of July 31, 2017. We had no outstanding balance under the 2016 CLOC as of July 31, 2017, and amounts available to borrow were limited by the debt-to-EBITDA covenant to approximately $1.6 billion as of July 31, 2017.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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