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Income Taxes (Tables) | 12 Months Ended
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Apr. 30, 2021
Income Tax Disclosure [Abstract] |
Schedule Of Components Of Income From Continuing Operations | The components of income (loss) from continuing operations upon which domestic and foreign income taxes have been provided are as follows:
(in 000s)
Year ended April 30, |  | 2021 |  | 2020 |  | 2019
Domestic |  | $ | 489,499 |  |  | $ | 56,121 |  |  | $ | 389,319 |
Foreign |  | 179,237 |  |  | (59,495) |  |  | 155,841 |
|  | $ | 668,736 |  |  | $ | (3,374) |  |  | $ | 545,160 |
Schedule Of Effective Income Tax Rate Reconciliation | The reconciliation between the income tax provision and the amount computed by applying the statutory U.S. federal tax rate to income taxes of continuing operations is as follows:
Year ended April 30, |  | 2021 |  | 2020 |  | 2019
U.S. statutory tax rate |  | 21.0 | % |  | 21.0 | % |  | 21.0 | %
Change in tax rate resulting from: |  |  |  |  |  |
State income taxes, net of federal income tax benefit |  | 1.8 | % |  | 20.4 | % |  | 2.3 | %
Earnings taxed in foreign jurisdictions |  | (1.2) | % |  | 619.4 | % |  | (2.7) | %
Permanent differences |  | 0.5 | % |  | (257.5) | % |  | 0.3 | %
Impairment of goodwill |  | — | % |  | (832.5) | % |  | — | %
Uncertain tax positions |  | 7.5 | % |  | 508.3 | % |  | (2.3) | %
U.S. tax on income from foreign affiliates |  | 1.0 | % |  | (247.4) | % |  | — | %
Remeasurement of deferred tax assets and liabilities |  | (0.1) | % |  | 117.6 | % |  | 0.2 | %
Changes in prior year estimates |  | (0.5) | % |  | 55.5 | % |  | — | %
Federal income tax credits |  | (0.9) | % |  | 216.3 | % |  | — | %
Tax impacts of stock-based compensation vesting |  | — | % |  | 44.8 | % |  | — | %
Tax benefit due to NOL carryback under CARES Act |  | (17.5) | % |  | — | % |  | — | %
Tax deductible write-down of foreign investment |  | (1.7) | % |  | — | % |  | — | %
Change in valuation allowance - domestic |  | (0.2) | % |  | 37.1 | % |  | 0.4 | %
Change in valuation allowance - foreign |  | 1.7 | % |  | 20.6 | % |  | (0.8) | %
Other |  | 0.3 | % |  | (41.2) | % |  | (0.1) | %
Effective tax rate |  | 11.7 | % |  | 282.4 | % |  | 18.3 | %
Schedule Of Components Of Income Tax Expense (Benefit) For Continuing Operations | The components of income tax expense (benefit) for continuing operations are as follows:
(in 000s) |  |
Year ended April 30, |  | 2021 |  | 2020 |  | 2019 |  |
Current: |  |  |  |  |  |  |  |
Federal |  | $ | 58,834 |  |  | $ | 18,048 |  |  | $ | 74,993 |  |  |
State |  | 12,000 |  |  | (16,614) |  |  | 12,345 |  |  |
Foreign |  | 26,032 |  |  | 1,991 |  |  | 6,711 |  |  |
|  | 96,866 |  |  | 3,425 |  |  | 94,049 |  |  |
Deferred: |  |  |  |  |  |  |  |
Federal |  | 2,493 |  |  | 1,703 |  |  | 6,625 |  |  |
State |  | (11,368) |  |  | (1,516) |  |  | (1,070) |  |  |
Foreign |  | (9,467) |  |  | (13,142) |  |  | 300 |  |  |
|  | (18,342) |  |  | (12,955) |  |  | 5,855 |  |  |
Total income taxes (benefit) for continuing operations |  | $ | 78,524 |  |  | $ | (9,530) |  |  | $ | 99,904 |  |  |
Schedule Of Deferred Tax Assets And Liabilities | The significant components of deferred tax assets and liabilities are reflected in the following table:
(in 000s)
As of April 30, |  | 2021 |  | 2020
Deferred tax assets: |  |  |  |
Accrued expenses |  | $ | 3,576 |  |  | $ | 4,646 |
Deferred revenue |  | 10,445 |  |  | 11,082 |
Allowance for credit losses and related reserves |  | 33,027 |  |  | 29,666 |
Deferred and stock-based compensation |  | 24,712 |  |  | 6,669 |
Net operating loss carry-forward |  | 104,013 |  |  | 86,213 |
Lease liabilities |  | 112,249 |  |  | 126,505 |
Federal tax benefits related to state unrecognized tax benefits |  | 16,682 |  |  | 16,729 |
Property and equipment |  | 40,138 |  |  | — |
Intangibles - intellectual property |  | 86,711 |  |  | 85,688 |
Valuation allowance |  | (55,401) |  |  | (45,124) |
Total deferred tax assets |  | 376,152 |  |  | 322,074 |
Deferred tax liabilities: |  |  |  |
Prepaid expenses and other |  | (11,927) |  |  | (5,189) |
Lease right of use assets |  | (109,726) |  |  | (123,900) |
Property and equipment |  | — |  |  | (12,221) |
Income tax method change |  | (56,257) |  |  | — |
Intangibles |  | (72,650) |  |  | (64,252) |
Total deferred tax liabilities |  | (250,560) |  |  | (205,562) |
Net deferred tax assets |  | $ | 125,592 |  |  | $ | 116,512 |
A reconciliation of the deferred tax assets and liabilities and the corresponding amounts reported in the consolidated balance sheets is as follows:
(in 000s)
As of April 30, |  | 2021 |  | 2020
Deferred income tax assets |  | $ | 141,836 |  |  | $ | 138,527 |
Deferred tax liabilities |  | (16,244) |  |  | (22,015) |
Net deferred tax asset |  | $ | 125,592 |  |  | $ | 116,512 |
Summary of Valuation Allowance | Changes in our valuation allowance for fiscal years 2021, 2020 and 2019 are as follows:
(in 000s)
Year ended April 30, |  | 2021 |  | 2020 |  | 2019
Balance, beginning of the year |  | $ | 45,124 |  |  | $ | 47,070 |  |  | $ | 49,215 |
Additions charged to costs and expenses |  | 13,492 |  |  | 2,151 |  |  | 2,302 |
Deductions |  | (3,215) |  |  | (4,097) |  |  | (4,447) |
Balance, end of the year |  | $ | 55,401 |  |  | $ | 45,124 |  |  | $ | 47,070 |
Schedule Of Reconciliation Of Unrecognized Tax Benefits | Changes in unrecognized tax benefits for fiscal years 2021, 2020 and 2019 are as follows:
(in 000s)
Year ended April 30, |  | 2021 |  | 2020 |  | 2019
Balance, beginning of the year |  | $ | 168,062 |  |  | $ | 185,144 |  |  | $ | 186,061 |
Additions based on tax positions related to prior years |  | 121,364 |  |  | 1,501 |  |  | 9,937 |
Reductions based on tax positions related to prior years |  | (34,470) |  |  | (10,128) |  |  | (42,647) |
Additions based on tax positions related to the current year |  | 43,800 |  |  | 12,093 |  |  | 38,611 |
Reductions related to settlements with tax authorities |  | (29,362) |  |  | (980) |  |  | (2,025) |
Expiration of statute of limitations |  | (4,584) |  |  | (19,568) |  |  | (4,793) |
Balance, end of the year |  | $ | 264,810 |  |  | $ | 168,062 |  |  | $ | 185,144 |

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