3. Comprehensive Income

Comprehensive income is comprised of net income and all changes to stockholders’ equity, except those changes resulting from investments by stockholders (changes in paid-in capital) and distributions to stockholders (dividends) and is reported in the accompanying consolidated statements of comprehensive income. Accumulated comprehensive loss, net of taxes, is recorded as a component of stockholders’ equity.

The components of accumulated other comprehensive loss were as follows:


	April 30,
	2018			2017
	(in thousands)
Foreign currency translation adjustments	$	(32,399	)	$	(55,359	)
Deferred compensation and pension plan adjustments, net of taxes		(9,073	)		(15,127	)
Interest rate swap unrealized gain (loss), net of taxes		1,337			(578	)

Accumulated other comprehensive loss, net	$	(40,135	)	$	(71,064	)

The following table summarizes the changes in each component of accumulated other comprehensive (loss) income:


	Foreign Currency Translation			Deferred Compensation and Pension Plan (1)			Unrealized Gains (Losses) on Marketable Securities			Unrealized (losses) gains on interest rate swap (2)			Accumulated Other Comprehensive Income (Loss)

Balance as of May 1, 2015	$	(20,919	)	$	(19,708	)	$	4		$	—		$	(40,623	)
Unrealized losses arising during the period		(15,420	)		(3,653	)		(4	)		—			(19,077	)
Reclassification of realized net losses to net income		—			1,789			—			—			1,789

Balance as of April 30, 2016		(36,339	)		(21,572	)		—			—			(57,911	)
Unrealized (losses) gains arising during the period		(19,020	)		4,584			—			(635	)		(15,071	)
Reclassification of realized net losses to net income		—			1,861			—			57			1,918

Balance as of April 30, 2017		(55,359	)		(15,127	)		—			(578	)		(71,064	)
Unrealized gains arising during the period		22,960			4,813			—			1,465			29,238
Reclassification of realized net losses to net income		—			1,241			—			450			1,691

Balance as of April 30, 2018	$	(32,399	)	$	(9,073	)	$	—		$	1,337		$	(40,135	)

(1)

The tax effects on unrealized gains (losses) were $2.5 million, $1.9 million and $(2.3) million as of April 30, 2018, 2017 and 2016, respectively. The tax effects on reclassifications of realized net losses were $0.8 million, $1.2 million and $1.1 million as of April 30, 2018, 2017 and 2016, respectively.

(2)	The tax effects on unrealized gains (losses) were $0.8 million and $(0.4) million as of April 30, 2018 and 2017, respectively. The tax effect on the reclassification of realized net losses to net income was $0.3 million as of April 30, 2018.