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Income Taxes (Tables) | 12 Months Ended
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Apr. 30, 2022
Income Tax Disclosure [Abstract] |
Domestic and Foreign Components of Income (Loss) from Continuing Operations before Domestic and Foreign Income and Other Taxes | Income from continuing operations before provision for income taxes was as follows:
|  | Year Ended April 30, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
|  | (in thousands) |
Domestic |  | $ | 184,877 |  |  | $ | 34,661 |  |  | $ | 40,736 |
Foreign |  |  | 248,024 |  |  |  | 129,039 |  |  |  | 110,226 |
Income before provision for income taxes |  | $ | 432,901 |  |  | $ | 163,700 |  |  | $ | 150,962 |
Provision (Benefit) for Domestic and Foreign Income Taxes | The provision for domestic and foreign income taxes was as follows:
|  | Year Ended April 30, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
|  | (in thousands) |
Current income taxes: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 43,993 |  |  | $ | 16,913 |  |  | $ | 14,336 |
State |  |  | 15,962 |  |  |  | 4,719 |  |  |  | 4,974 |
Foreign |  |  | 59,064 |  |  |  | 40,646 |  |  |  | 33,965 |
Current provision for income taxes |  |  | 119,019 |  |  |  | 62,278 |  |  |  | 53,275 |
Deferred income taxes: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | (13,858 | ) |  |  | (5,809 | ) |  |  | (6,862 | )
State |  |  | (3,936 | ) |  |  | (5,025 | ) |  |  | (784 | )
Foreign |  |  | 831 |  |  |  | (3,306 | ) |  |  | (1,684 | )
Deferred benefit for income taxes |  |  | (16,963 | ) |  |  | (14,140 | ) |  |  | (9,330 | )
Total provision for income taxes |  | $ | 102,056 |  |  | $ | 48,138 |  |  | $ | 43,945 |
Reconciliation of Statutory Federal Income Tax Rate to Effective Consolidated Tax Rate | The reconciliation of the statutory federal income tax rate to the effective consolidated tax rate is as follows:
|  | Year Ended April 30, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
U.S. federal statutory income tax rate |  |  | 21.0 | % |  |  | 21.0 | % |  |  | 21.0 | %
State tax, net of federal effect |  |  | 2.5 |  |  |  | 1.0 |  |  |  | 2.2 |
Foreign tax rates differential |  |  | 2.5 |  |  |  | 4.5 |  |  |  | 4.5 |
Non-deductible officers compensation |  |  | 0.7 |  |  |  | 2.3 |  |  |  | 0.5 |
Excess tax (benefit) expense on stock-based compensation |  |  | (0.6 | ) |  |  | 0.8 |  |  |  | (1.0 | )
Change in valuation allowance |  |  | (0.7 | ) |  |  | 0.3 |  |  |  | — |
COLI increase, net |  |  | (0.3 | ) |  |  | (1.7 | ) |  |  | (0.9 | )
Change in uncertain tax positions |  |  | 0.3 |  |  |  | 1.1 |  |  |  | 0.2 |
R&D tax credit |  |  | (1.3 | ) |  |  | (0.9 | ) |  |  | — |
Other |  |  | (0.5 | ) |  |  | 1.0 |  |  |  | 2.6 |
Effective income tax rate |  |  | 23.6 | % |  |  | 29.4 | % |  |  | 29.1 | %
Components of Deferred Tax Assets and Liabilities | Components of deferred tax assets and liabilities were as follows:
|  | April 30, |
|  | 2022 |  |  | 2021 |
|  | (in thousands) |
Deferred tax assets: |  |  |  |  |  |  |  |
Deferred compensation |  | $ | 111,133 |  |  | $ | 107,834 |
Operating lease liability |  |  | 35,158 |  |  |  | 34,183 |
Loss carryforwards |  |  | 33,360 |  |  |  | 39,704 |
Reserves and accruals |  |  | 20,887 |  |  |  | 16,393 |
Allowance for doubtful accounts |  |  | 5,645 |  |  |  | 4,885 |
Deferred revenue |  |  | 6,207 |  |  |  | — |
Gross deferred tax assets |  |  | 212,390 |  |  |  | 202,999 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Operating lease, right-of-use, assets |  |  | (27,513 | ) |  |  | (27,777 | )
Intangibles and goodwill |  |  | (28,388 | ) |  |  | (26,570 | )
Property and equipment |  |  | (24,063 | ) |  |  | (20,590 | )
Prepaid expenses |  |  | (24,453 | ) |  |  | (23,928 | )
Marketable securities |  |  | (1,260 | ) |  |  | (7,003 | )
Other |  |  | (691 | ) |  |  | (2,684 | )
Gross deferred tax liabilities |  |  | (106,368 | ) |  |  | (108,552 | )
Valuation allowances |  |  | (24,025 | ) |  |  | (25,173 | )
Net deferred tax asset |  | $ | 81,997 |  |  | $ | 69,274 |
Changes in Unrecognized Tax Benefits | A reconciliation of the beginning and ending balances of the unrecognized tax benefits is as follows:
|  | Year Ended April 30, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
|  | (in thousands) |
Unrecognized tax benefits, beginning of year |  | $ | 9,954 |  |  | $ | 6,037 |  |  | $ | 7,794 |
Settlement with tax authority |  |  | — |  |  |  | — |  |  |  | (1,767 | )
Additions based on tax positions related to the current year |  |  | 456 |  |  |  | 1,716 |  |  |  | 10 |
Additions based on tax positions related to prior years |  |  | 272 |  |  |  | 2,201 |  |  |  | — |
Unrecognized tax benefits, end of year |  | $ | 10,682 |  |  | $ | 9,954 |  |  | $ | 6,037 |

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