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Financial Instruments (Tables) | 12 Months Ended
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Apr. 30, 2017
Financial Instruments and Balance Sheet Classification | The following tables show the Company’s financial instruments and balance sheet classification as of April 30, 2017 and 2016:
|  | April 30, 2017 |
|  | 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 |  | $ | 409,824 |  |  | $ | — |  |  | $ | — |  |  | $ | 409,824 |  |  | $ | 409,824 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Money market funds |  |  | 1,058 |  |  |  | — |  |  |  | — |  |  |  | 1,058 |  |  |  | 1,058 |  |  |  | — |  |  |  | — |  |  |  | — |
Mutual funds (1) |  |  | 113,818 |  |  |  | 6,697 |  |  |  | (578 | ) |  |  | 119,937 |  |  |  | — |  |  |  | 4,363 |  |  |  | 115,574 |  |  |  | — |
Total |  | $ | 524,700 |  |  | $ | 6,697 |  |  | $ | (578 | ) |  | $ | 530,819 |  |  | $ | 410,882 |  |  | $ | 4,363 |  |  | $ | 115,574 |  |  | $ | — |
Level 2: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | — |  |  | $ | 129 |  |  | $ | (846 | ) |  | $ | (717 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (717 | )
Interest rate swap |  | $ | — |  |  | $ | — |  |  | $ | (947 | ) |  | $ | (947 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (947 | )
|  | 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 |  | $ | 269,558 |  |  | $ | — |  |  | $ | — |  |  | $ | 269,558 |  |  | $ | 269,558 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Money market funds |  |  | 3,694 |  |  |  | — |  |  |  | — |  |  |  | 3,694 |  |  |  | 3,694 |  |  |  | — |  |  |  | — |  |  |  | — |
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 | )
Interest rate swap |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
(1) | These investments are held in trust for settlement of the Company’s vested and unvested obligations of $137.1 million and $138.8 million as of April 30, 2017 and 2016, respectively, under the ECAP (see Note 6 — Deferred Compensation and Retirement Plans). During fiscal 2017 and 2015, the fair value of the investments increased; therefore, the Company recognized income of $10.8 million and $8.8 million, respectively which was recorded in other income (loss), net. During fiscal 2016, the fair value of the investments decreased; therefore, the Company recognized a loss of $3.3 million, which was recorded in other income (loss), net.
Financial Instruments and Balance Sheet Classification | The following tables show the Company’s financial instruments and balance sheet classification as of April 30, 2017 and 2016:
|  | April 30, 2017 |
|  | 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 |  | $ | 409,824 |  |  | $ | — |  |  | $ | — |  |  | $ | 409,824 |  |  | $ | 409,824 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Money market funds |  |  | 1,058 |  |  |  | — |  |  |  | — |  |  |  | 1,058 |  |  |  | 1,058 |  |  |  | — |  |  |  | — |  |  |  | — |
Mutual funds (1) |  |  | 113,818 |  |  |  | 6,697 |  |  |  | (578 | ) |  |  | 119,937 |  |  |  | — |  |  |  | 4,363 |  |  |  | 115,574 |  |  |  | — |
Total |  | $ | 524,700 |  |  | $ | 6,697 |  |  | $ | (578 | ) |  | $ | 530,819 |  |  | $ | 410,882 |  |  | $ | 4,363 |  |  | $ | 115,574 |  |  | $ | — |
Level 2: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | — |  |  | $ | 129 |  |  | $ | (846 | ) |  | $ | (717 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (717 | )
Interest rate swap |  | $ | — |  |  | $ | — |  |  | $ | (947 | ) |  | $ | (947 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (947 | )
|  | 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 |  | $ | 269,558 |  |  | $ | — |  |  | $ | — |  |  | $ | 269,558 |  |  | $ | 269,558 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Money market funds |  |  | 3,694 |  |  |  | — |  |  |  | — |  |  |  | 3,694 |  |  |  | 3,694 |  |  |  | — |  |  |  | — |  |  |  | — |
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 | )
Interest rate swap |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
(1) | These investments are held in trust for settlement of the Company’s vested and unvested obligations of $137.1 million and $138.8 million as of April 30, 2017 and 2016, respectively, under the ECAP (see Note 6 — Deferred Compensation and Retirement Plans). During fiscal 2017 and 2015, the fair value of the investments increased; therefore, the Company recognized income of $10.8 million and $8.8 million, respectively which was recorded in other income (loss), net. During fiscal 2016, the fair value of the investments decreased; therefore, the Company recognized a loss of $3.3 million, which was recorded in other income (loss), net.
Summary of Losses on Interest Rate Swap | During fiscal 2017, the Company recognized the following losses on the interest rate swap:
|  | April 30, 2017 |
|  | (in thousands) |
Losses recognized in OCI (net of tax effects of $406) |  | $ | 635 |
Losses reclassified from AOCI into interest income (expense), net |  |  | (94 | )
Cash Flow Hedge |
Fair Value of Derivative Designated as Cash Flow Hedge Instrument | The fair value of the derivative designated as a cash flow hedge instrument is as follows:
|  | April 30, 2017 |
|  | (in thousands) |
Derivative liability: |  |  |  |
Interest rate swap contract |  | $ | 947 |
Not Designated as Hedge Instrument |
Fair Value of Liabilities Derivatives | The fair value of derivatives not designated as hedge instruments are as follows:
|  | April 30, |
|  | 2017 |  |  | 2016 |
|  | (in thousands) |
Derivative assets: |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | 129 |  |  | $ | 324 |
Derivative liabilities: |  |  |  |  |  |  |  |
Foreign currency forward contracts |  |  | 846 |  |  |  | 1,041 |
Fair Value of Assets Derivatives | The fair value of derivatives not designated as hedge instruments are as follows:
|  | April 30, |
|  | 2017 |  |  | 2016 |
|  | (in thousands) |
Derivative assets: |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | 129 |  |  | $ | 324 |
Derivative liabilities: |  |  |  |  |  |  |  |
Foreign currency forward contracts |  |  | 846 |  |  |  | 1,041 |

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