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Financial Instruments (Tables)

12 Months Ended

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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