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Income Taxes (Tables) | 12 Months Ended
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Apr. 30, 2012
Provision (Benefit) For Domestic And Foreign Income Taxes | The provision (benefit) for domestic and foreign income taxes were as follows:
|  | Year Ended April 30, |
|  | 2012 |  |  | 2011 |  |  | 2010 |
|  | (in thousands) |
Current income taxes: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 4,173 |  |  | $ | 7,606 |  |  | $ | 862 |
State |  |  | 1,609 |  |  |  | 5,714 |  |  |  | 2,281 |
Foreign |  |  | 12,670 |  |  |  | 11,826 |  |  |  | 6,738 |
Current provision for income taxes |  |  | 18,452 |  |  |  | 25,146 |  |  |  | 9,881 |
Deferred income taxes: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | 7,281 |  |  |  | (2,442 | ) |  |  | (2,729 | )
State |  |  | 3,508 |  |  |  | 830 |  |  |  | (1,303 | )
Foreign |  |  | (890 | ) |  |  | 9,158 |  |  |  | (6,334 | )
Deferred provision (benefit) for income taxes |  |  | 9,899 |  |  |  | 7,546 |  |  |  | (10,366 | )
Total provision (benefit) for income taxes |  | $ | 28,351 |  |  | $ | 32,692 |  |  | $ | (485 | )
Domestic And Foreign Components Of Income (Loss) From Continuing Operations Before Domestic And Foreign Income And Other Taxes And Equity In Earnings Of Unconsolidated Subsidiaries | The domestic and foreign components of income (loss) from continuing operations before domestic and foreign income and other taxes and equity in earnings of unconsolidated subsidiaries were as follows:
|  | Year Ended April 30, |
|  | 2012 |  |  | 2011 |  |  | 2010 |
|  | (in thousands) |
Domestic |  | $ | 42,375 |  |  | $ | 56,741 |  |  | $ | 10,669 |
Foreign |  |  | 38,429 |  |  |  | 32,963 |  |  |  | (5,947 | )
Income before provision (benefit) for income taxes and equity in earnings of unconsolidated subsidiaries |  | $ | 80,804 |  |  | $ | 89,704 |  |  | $ | 4,722 |
Reconciliation Of The Statutory Federal Income Tax Rate To The Effective Consolidated Tax Rate | The reconciliation of the statutory federal income tax rate to the effective consolidated tax rate is as follows:
|  | Year Ended April 30, |
|  | 2012 |  |  | 2011 |  |  | 2010 |
U.S. federal statutory income tax rate |  |  | 35.0 | % |  |  | 35.0 | % |  |  | 35.0 | %
Foreign source income, net of credits generated |  |  | 3.0 |  |  |  | 1.9 |  |  |  | 52.9 |
Income subject to net differing foreign tax rates |  |  | (2.9 | ) |  |  | (3.8 | ) |  |  | 52.6 |
COLI increase, net |  |  | (2.7 | ) |  |  | (2.8 | ) |  |  | (69.8 | )
Repatriation of foreign earnings |  |  | (1.7 | ) |  |  | 0.1 |  |  |  | 38.5 |
State income taxes, net of federal benefit |  |  | 4.0 |  |  |  | 4.6 |  |  |  | 13.8 |
Adjustments for valuation allowance |  |  | (0.7 | ) |  |  | 4.8 |  |  |  | 52.7 |
Tax exempt interest income |  |  | — |  |  |  | — |  |  |  | (0.7 | )
Expense disallowances |  |  | 0.8 |  |  |  | 0.5 |  |  |  | 7.5 |
Uncertain tax position reserve reversal |  |  | — |  |  |  | (2.3 | ) |  |  | (208.8 | )
Other |  |  | 0.3 |  |  |  | (1.6 | ) |  |  | 16.0 |
Effective income tax rate |  |  | 35.1 | % |  |  | 36.4 | % |  |  | (10.3 | )%
Components Of Deferred Tax Assets And Liabilities | Components of the deferred tax assets and liabilities are as follows:
|  | April 30, |
|  | 2012 |  |  | 2011 |
|  | (in thousands) |
Deferred tax assets: |  |  |  |
Deferred compensation |  | $ | 62,710 |  |  | $ | 64,333 |
Loss and credit carryforwards |  |  | 33,342 |  |  |  | 33,834 |
Allowance for doubtful accounts |  |  | 1,388 |  |  |  | 1,797 |
Property and equipment |  |  | — |  |  |  | 371 |
Deferred rent |  |  | 6,887 |  |  |  | 6,422 |
Other |  |  | 5,623 |  |  |  | 4,664 |
Gross deferred tax assets |  |  | 109,950 |  |  |  | 111,421 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Intangibles |  |  | (11,103 | ) |  |  | (8,228 | )
Unrealized gain |  |  | (1,059 | ) |  |  | (2,393 | )
Property and equipment |  |  | (4,527 | ) |  |  | — |
Other |  |  | (52 | ) |  |  | — |
Gross deferred tax liabilities |  |  | (16,741 | ) |  |  | (10,621 | )
Valuation allowances |  |  | (25,089 | ) |  |  | (26,168 | )
Net deferred tax asset |  | $ | 68,120 |  |  | $ | 74,632 |
Deferred Tax Amounts | The deferred tax amounts have been classified in the consolidated balance sheets as follows:
|  | April 30, |
|  | 2012 |  |  | 2011 |
|  | (in thousands) |
Current: |  |  |  |
Deferred tax assets |  | $ | 15,357 |  |  | $ | 10,214 |
Deferred tax liabilities |  |  | (4,527 | ) |  |  | — |
Current deferred tax asset |  |  | 10,830 |  |  |  | 10,214 |
Non-current: |  |  |  |  |  |  |  |
Deferred tax asset |  |  | 94,593 |  |  |  | 101,207 |
Deferred tax liabilities |  |  | (12,214 | ) |  |  | (10,621 | )
Non-current deferred tax asset |  |  | 82,379 |  |  |  | 90,586 |
Valuation allowance |  |  | (25,089 | ) |  |  | (26,168 | )
Non-current deferred tax asset, net |  |  | 57,290 |  |  |  | 64,418 |
Net deferred tax assets |  | $ | 68,120 |  |  | $ | 74,632 |
Scheduled Expiration dates Of The Company's Net Operating Loss And Tax Credit Carryforwards | The following details the scheduled expiration dates of the Company’s net operating loss (net tax effected) and tax credit carryforwards:
|  | April 30, 2012 |
|  | 2012 through 2016 |  |  | 2017 through 2026 |  |  | Indefinite |  |  | Total |
|  | (in thousands) |
Foreign net operating loss carryforwards |  | $ | 6,148 |  |  | $ | 30,440 |  |  | $ | 56,429 |  |  | $ | 93,017 |
State taxing jurisdiction net operating loss carryforwards |  |  | 63 |  |  |  | 11,444 |  |  |  | — |  |  |  | 11,507 |
Foreign tax credit |  |  | — |  |  |  | 3,333 |  |  |  | — |  |  |  | 3,333 |
Federal capital loss carryforwards |  |  | 5,776 |  |  |  | — |  |  |  | — |  |  |  | 5,776 |
Changes In Unrecognized Tax Benefits | Changes in the unrecognized tax benefits are as follows:
|  | Year Ended April 30, |
|  | 2012 |  |  | 2011 |  |  | 2010 |
|  | (in thousands) |
Unrecognized tax benefits, beginning of year |  | $ | — |  |  | $ | 3,532 |  |  | $ | 13,392 |
Settlement with tax authority |  |  | — |  |  |  | (1,473 | ) |  |  | — |
Additions based on tax positions related to the current year |  |  | — |  |  |  | — |  |  |  | — |
Estimated interest for the year |  |  | — |  |  |  | 72 |  |  |  | 469 |
Recognized tax benefits |  |  | — |  |  |  | (2,131 | ) |  |  | (10,329 | )
Unrecognized tax benefits, end of year |  | $ | — |  |  | $ | — |  |  | $ | 3,532 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Topic 740 -SubTopic 10 -Publisher FASB -Number -Article -Subparagraph -Name Accounting Standards Codification -Paragraph 9 -Section 50 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name FASB Interpretation (FIN) -Number 48 -Paragraph 21 -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 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 + Details
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