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Financial Instruments (Tables) | 12 Months Ended
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Apr. 30, 2018
Financial Instruments and Balance Sheet Classification | The following tables show the Company’s financial instruments and balance sheet classification as of April 30, 2018 and 2017:
|  | April 30, 2018
|  | Fair Value Measurement |  | Balance Sheet Classification
|  | Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value |  | Cash and Cash Equivalents |  | Marketable Securities, Current |  | Marketable Securities, Non-current |  | Income Taxes & Other Receivables |  | Other Accrued Liabilities
|  | (in thousands)
Level 1: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash |  |  | $ | 519,818 |  |  |  | $ | — |  |  |  | $ | — |  |  |  | $ | 519,818 |  |  |  | $ | 519,818 |  |  |  | $ | — |  |  |  | $ | — |  |  |  | $ | — |  |  |  | $ | — |
Money market funds |  |  |  | 1,030 |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 1,030 |  |  |  |  | 1,030 |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |
Mutual funds (1) |  |  |  | 127,077 |  |  |  |  | 11,040 |  |  |  |  | (1,032 | ) |  |  |  | 137,085 |  |  |  |  | — |  |  |  |  | 14,293 |  |  |  |  | 122,792 |  |  |  |  | — |  |  |  |  | — |
Total |  |  | $ | 647,925 |  |  |  | $ | 11,040 |  |  |  | $ | (1,032 | ) |  |  | $ | 657,933 |  |  |  | $ | 520,848 |  |  |  | $ | 14,293 |  |  |  | $ | 122,792 |  |  |  | $ | — |  |  |  | $ | — |
Level 2: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  |  | $ | — |  |  |  | $ | 1,778 |  |  |  | $ | (1,025 | ) |  |  | $ | 753 |  |  |  | $ | — |  |  |  | $ | — |  |  |  | $ | — |  |  |  | $ | 753 |  |  |  | $ | — |
Interest rate swap |  |  | $ | — |  |  |  | $ | 2,076 |  |  |  | $ | — |  |  |  | $ | 2,076 |  |  |  | $ | — |  |  |  | $ | — |  |  |  | $ | — |  |  |  | $ | 2,076 |  |  |  | $ | — |
|  | 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 |  | Income Taxes & Other Receivables |  | 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 | )
(1) | These investments are held in trust for settlement of the Company’s vested obligations of $118.2 million and $99.5 million as of April 30, 2018 and 2017, respectively, under the ECAP (see Note 6 — Deferred Compensation and Retirement Plans). During fiscal 2018 and 2017, the fair value of the investments increased; therefore, the Company recognized income of $10.3 million and $10.8 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, 2018 and 2017:
|  | April 30, 2018
|  | Fair Value Measurement |  | Balance Sheet Classification
|  | Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value |  | Cash and Cash Equivalents |  | Marketable Securities, Current |  | Marketable Securities, Non-current |  | Income Taxes & Other Receivables |  | Other Accrued Liabilities
|  | (in thousands)
Level 1: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash |  |  | $ | 519,818 |  |  |  | $ | — |  |  |  | $ | — |  |  |  | $ | 519,818 |  |  |  | $ | 519,818 |  |  |  | $ | — |  |  |  | $ | — |  |  |  | $ | — |  |  |  | $ | — |
Money market funds |  |  |  | 1,030 |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 1,030 |  |  |  |  | 1,030 |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |
Mutual funds (1) |  |  |  | 127,077 |  |  |  |  | 11,040 |  |  |  |  | (1,032 | ) |  |  |  | 137,085 |  |  |  |  | — |  |  |  |  | 14,293 |  |  |  |  | 122,792 |  |  |  |  | — |  |  |  |  | — |
Total |  |  | $ | 647,925 |  |  |  | $ | 11,040 |  |  |  | $ | (1,032 | ) |  |  | $ | 657,933 |  |  |  | $ | 520,848 |  |  |  | $ | 14,293 |  |  |  | $ | 122,792 |  |  |  | $ | — |  |  |  | $ | — |
Level 2: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  |  | $ | — |  |  |  | $ | 1,778 |  |  |  | $ | (1,025 | ) |  |  | $ | 753 |  |  |  | $ | — |  |  |  | $ | — |  |  |  | $ | — |  |  |  | $ | 753 |  |  |  | $ | — |
Interest rate swap |  |  | $ | — |  |  |  | $ | 2,076 |  |  |  | $ | — |  |  |  | $ | 2,076 |  |  |  | $ | — |  |  |  | $ | — |  |  |  | $ | — |  |  |  | $ | 2,076 |  |  |  | $ | — |
|  | 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 |  | Income Taxes & Other Receivables |  | 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 | )
(1) | These investments are held in trust for settlement of the Company’s vested obligations of $118.2 million and $99.5 million as of April 30, 2018 and 2017, respectively, under the ECAP (see Note 6 — Deferred Compensation and Retirement Plans). During fiscal 2018 and 2017, the fair value of the investments increased; therefore, the Company recognized income of $10.3 million and $10.8 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 Gains and Losses on Interest Rate Swap | During fiscal 2018 and 2017, the Company recognized the following gains and losses on the interest rate swap:
|  | Year Ended April 30, |
|  | 2018 |  |  | 2017 |
|  | (in thousands) |
Gains (Losses) recognized in other comprehensive income (net of tax effects of $828 and ($406), respectively) |  | $ | 1,465 |  |  | $ | (635) |
Losses reclassified from accumulated other comprehensive income into interest (expense) income, net |  | $ | (730 | ) |  | $ | (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, |
|  | 2018 |  |  | 2017 |
|  | (in thousands) |
Derivative asset: |  |  |  |  |  |  |  |
Interest rate swap contract |  | $ | 2,076 |  |  | $ | — |
Derivative liability: |  |  |  |  |  |  |  |
Interest rate swap contract |  | $ | — |  |  | $ | 947 |
Not Designated as Hedge Instrument |
Fair Value of Assets Derivatives | The fair value of derivatives not designated as hedge instruments are as follows:
|  | April 30, |
|  | 2018 |  |  | 2017 |
|  | (in thousands) |
Derivative assets: |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | 1,778 |  |  | $ | 129 |
Derivative liabilities: |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | 1,025 |  |  | $ | 846 |

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