XML 22 R12.htm IDEA: XBRL DOCUMENT
v3.5.0.2

Financial Instruments | 3 Months Ended
--- | ---
Jul. 31, 2016
Financial Instruments |
6. | Financial Instruments
The following tables show the Company’s cash, trading securities and foreign currency forward contracts’ cost, gross unrealized gains, gross unrealized losses and fair value by significant category recorded as cash and cash equivalents, current portion of current marketable securities, non-current marketable securities, or other accrued liabilities as of July 31, 2016 and April 30, 2016:
|  | July 31, 2016 |
|  | Fair Value Measurement |  |  | Balance Sheet Classification |
|  | Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Fair Value |  |  | Cash and Cash Equivalents |  |  | Marketable Securities, Current |  |  | Marketable Securities, Non-current |  |  | Other Accrued Liabilities |
|  | (in thousands) |
Level 1: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash |  | $ | 119,660 |  |  | $ | — |  |  | $ | — |  |  | $ | 119,660 |  |  | $ | 119,660 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Money market funds |  |  | 124,413 |  |  |  | — |  |  |  | — |  |  |  | 124,413 |  |  |  | 124,413 |  |  |  | — |  |  |  | — |  |  |  | — |
Mutual funds (1) |  |  | 134,447 |  |  |  | 3,477 |  |  |  | (947 | ) |  |  | 136,977 |  |  |  | — |  |  |  | 3,475 |  |  |  | 133,502 |  |  |  | — |
Total |  | $ | 378,520 |  |  | $ | 3,477 |  |  | $ | (947 | ) |  | $ | 381,050 |  |  | $ | 244,073 |  |  | $ | 3,475 |  |  | $ | 133,502 |  |  | $ | — |
Level 2: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | — |  |  | $ | 419 |  |  | $ | (966 | ) |  | $ | (547 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (547 | )
|  | April 30, 2016 |
|  | Fair Value Measurement |  |  | Balance Sheet Classification |
|  | Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Fair Value |  |  | Cash and Cash Equivalents |  |  | Marketable Securities, Current |  |  | Marketable Securities, Non-current |  |  | Other Accrued Liabilities |
|  | (in thousands) |
Level 1: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash |  | $ | 155,702 |  |  | $ | — |  |  | $ | — |  |  | $ | 155,702 |  |  | $ | 155,702 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Money market funds |  |  | 117,550 |  |  |  | — |  |  |  | — |  |  |  | 117,550 |  |  |  | 117,550 |  |  |  | — |  |  |  | — |  |  |  | — |
Mutual funds (1) |  |  | 142,588 |  |  |  | 1,395 |  |  |  | (2,553 | ) |  |  | 141,430 |  |  |  | — |  |  |  | 11,338 |  |  |  | 130,092 |  |  |  | — |
Total |  | $ | 415,840 |  |  | $ | 1,395 |  |  | $ | (2,553 | ) |  | $ | 414,682 |  |  | $ | 273,252 |  |  | $ | 11,338 |  |  | $ | 130,092 |  |  | $ | — |
Level 2: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | — |  |  | $ | 324 |  |  | $ | (1,041 | ) |  | $ | (717 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (717 | )
(1) | These investments are held in trust for settlement of the Company’s vested and unvested obligations of $133.9 million and $138.8 million as of July 31, 2016 and April 30, 2016, respectively, under the ECAP (see Note 7 — Deferred Compensation and Retirement Plans). During the three months ended July 31, 2016 and 2015, the fair value of the investments increased; therefore, the Company recognized income of $3.9 million and $0.7 million, respectively, which was recorded in other income (loss), net.
Investments in marketable securities classified as trading are based upon investment selections the employee elects from a pre-determined set of securities in the ECAP and the Company invests in marketable securities to mirror these elections. As of July 31, 2016 and April 30, 2016, the Company’s investments in marketable securities classified as trading consist of mutual funds for which market prices are readily available. Investments in marketable securities classified as available-for-sale securities are made based on the Company’s investment policy, which restricts the types of investments that can be made. As of July 31, 2016 and April 30, 2016, the Company does not hold marketable securities classified as available-for-sale. During the three months ended July 31, 2015, the Company received $3.0 million in proceeds from maturities of available-for-sale marketable securities. Non-Designated Derivatives The fair value of derivatives not designated as hedge instruments are as follows:
|  | July 31, 2016 |  |  | April 30, 2016 |
|  | (in thousands) |
Derivative assets: |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | 419 |  |  | $ | 324 |
Derivative liabilities: |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | 966 |  |  | $ | 1,041 |
As of July 31, 2016, the total notional amounts of the forward contracts purchased and sold were $13.1 million and $58.5 million, respectively. As of April 30, 2016, the total notional amounts of the forward contracts purchased and sold were $14.5 million and $44.3 million, respectively. The Company recognizes forward contracts as a net asset or net liability on the consolidated balance sheets as such contracts are covered by master netting agreements. The Company incurred an immaterial net gain related to forward contracts during the three months ended July 31, 2016, which is recorded in general and administrative expenses in the accompanying consolidated statements of income. The cash flows related to foreign currency forward contracts are included in net cash used in operating activities.

X
- Definition The entire disclosure for financial instruments. This disclosure includes, but is not limited to, fair value measurements of short and long term marketable securities, international currencies forward contracts, and auction rate securities. Financial instruments may include hedging and non-hedging currency exchange instruments, derivatives, securitizations and securities available for sale at fair value. Also included are investment results, realized and unrealized gains and losses as well as impairments and risk management disclosures. + References No definition available. + Details
Name: | us-gaap_FinancialInstrumentsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration