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Financial Instruments (Tables) | 12 Months Ended
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Apr. 30, 2019
Financial Instruments and Balance Sheet Classification | The following tables show the Company’s financial instruments and balance sheet classification as of April 30, 2019 and 2018:
|  | April 30, 2019 |
|  | 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 |
|  | (in thousands) |
Level 1: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash |  | $ | 579,998 |  |  | $ | — |  |  | $ | — |  |  | $ | 579,998 |  |  | $ | 579,998 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Money market funds |  |  | 46,362 |  |  |  | — |  |  |  | — |  |  |  | 46,362 |  |  |  | 46,362 |  |  |  | — |  |  |  | — |  |  |  | — |
Mutual funds (1) |  |  | 135,439 |  |  |  | 6,301 |  |  |  | (989 | ) |  |  | 140,751 |  |  |  | — |  |  |  | 8,288 |  |  |  | 132,463 |  |  |  | — |
Total |  | $ | 761,799 |  |  | $ | 6,301 |  |  | $ | (989 | ) |  | $ | 767,111 |  |  | $ | 626,360 |  |  | $ | 8,288 |  |  | $ | 132,463 |  |  | $ | — |
Level 2: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | — |  |  | $ | 821 |  |  | $ | (722 | ) |  | $ | 99 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 99 |
Interest rate swap |  | $ | — |  |  | $ | 619 |  |  | $ | — |  |  | $ | 619 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 619 |
|  | 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 |
|  | (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 |
(1) | These investments are held in trust for settlement of the Company’s vested obligations of $122.3 million and $118.2 million as of April 30, 2019 and 2018, respectively, under the ECAP (see Note 6 — Deferred Compensation and Retirement Plans). Unvested obligations under the deferred compensation plans totaled $24.6 million and $29.5 million as of April 30, 2019 and 2018, respectively. During fiscal 2019, 2018, and 2017, the fair value of the investments increased; therefore, the Company recognized income of $8.1 million, $10.3 million, and $10.8 million, respectively, which was recorded in other income, net.
Financial Instruments and Balance Sheet Classification | The following tables show the Company’s financial instruments and balance sheet classification as of April 30, 2019 and 2018:
|  | April 30, 2019 |
|  | 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 |
|  | (in thousands) |
Level 1: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash |  | $ | 579,998 |  |  | $ | — |  |  | $ | — |  |  | $ | 579,998 |  |  | $ | 579,998 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Money market funds |  |  | 46,362 |  |  |  | — |  |  |  | — |  |  |  | 46,362 |  |  |  | 46,362 |  |  |  | — |  |  |  | — |  |  |  | — |
Mutual funds (1) |  |  | 135,439 |  |  |  | 6,301 |  |  |  | (989 | ) |  |  | 140,751 |  |  |  | — |  |  |  | 8,288 |  |  |  | 132,463 |  |  |  | — |
Total |  | $ | 761,799 |  |  | $ | 6,301 |  |  | $ | (989 | ) |  | $ | 767,111 |  |  | $ | 626,360 |  |  | $ | 8,288 |  |  | $ | 132,463 |  |  | $ | — |
Level 2: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | — |  |  | $ | 821 |  |  | $ | (722 | ) |  | $ | 99 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 99 |
Interest rate swap |  | $ | — |  |  | $ | 619 |  |  | $ | — |  |  | $ | 619 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 619 |
|  | 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 |
|  | (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 |
(1) | These investments are held in trust for settlement of the Company’s vested obligations of $122.3 million and $118.2 million as of April 30, 2019 and 2018, respectively, under the ECAP (see Note 6 — Deferred Compensation and Retirement Plans). Unvested obligations under the deferred compensation plans totaled $24.6 million and $29.5 million as of April 30, 2019 and 2018, respectively. During fiscal 2019, 2018, and 2017, the fair value of the investments increased; therefore, the Company recognized income of $8.1 million, $10.3 million, and $10.8 million, respectively, which was recorded in other income, net.
Summary of Gains and Losses on Interest Rate Swap | During fiscal 2019, 2018 and 2017, the Company recognized the following gains and losses on the interest rate swap:
|  | Year Ended April 30, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
|  | (in thousands) |
(Losses) gains recognized in other comprehensive income (net of tax effects of ($281), $828, and ($406), respectively) |  | $ | (800 | ) |  | $ | 1,465 |  |  | $ | (635 | )
Gains (losses) reclassified from accumulated other comprehensive income into interest (expense) income, net |  | $ | 376 |  |  | $ | (730 | ) |  | $ | (94 | )
Fair Value of Liabilities Derivatives | The fair value of derivatives not designated as hedge instruments are as follows:
|  | April 30, |
|  | 2019 |  |  | 2018 |
|  | (in thousands) |
Derivative assets: |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | 821 |  |  | $ | 1,778 |
Derivative liabilities: |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | 722 |  |  | $ | 1,025 |
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, |
|  | 2019 |  |  | 2018 |
|  | (in thousands) |
Derivative assets: |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | 821 |  |  | $ | 1,778 |
Derivative liabilities: |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | 722 |  |  | $ | 1,025 |
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, |
|  | 2019 |  |  | 2018 |
|  | (in thousands) |
Derivative asset: |  |  |  |  |  |  |  |
Interest rate swap contract |  | $ | 619 |  |  | $ | 2,076 |

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