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v3.25.2

Financial Instruments (Tables) | 3 Months Ended
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Jul. 31, 2025
Investments, All Other Investments [Abstract] |
Schedule of Financial Instruments and Balance Sheet Classification | The following tables show the Company’s financial instruments and balance sheet classification as of July 31, 2025 and April 30, 2025:
| July 31, 2025
| Fair Value Measurement |  | Balance Sheet Classification
| Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value |  | Cash and Cash Equivalents |  | Marketable Securities, Current |  | Marketable Securities, Non- current |  | Other Accrued Liabilities
| (in thousands)
Changes in Fair Value Recorded in |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Comprehensive Loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Level 2: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper | $ | 4,630 |  |  | $ | — |  |  | $ | (3) |  |  | $ | 4,627 |  |  | $ | 599 |  |  | $ | 4,028 |  |  | $ | — |  |  | $ | — |
Corporate notes/bonds | 32,358 |  |  | 34 |  |  | (31) |  |  | 32,361 |  |  | — |  |  | 19,091 |  |  | 13,270 |  |  | — |
U.S. Treasury and Agency Securities | 4,102 |  |  | 1 |  |  | (4) |  |  | 4,099 |  |  | — |  |  | — |  |  | 4,099 |  |  | — |
Total debt investments | $ | 41,090 |  |  | $ | 35 |  |  | $ | (38) |  |  | $ | 41,087 |  |  | $ | 599 |  |  | $ | 23,119 |  |  | $ | 17,369 |  |  | $ | — |
Changes in Fair Value Recorded in |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Level 1: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mutual funds (1) |  |  |  |  |  |  | $ | 237,951 |  |  | $ | — |  |  | $ | 13,158 |  |  | $ | 224,793 |  |  | $ | — |
Total equity investments |  |  |  |  |  |  | $ | 237,951 |  |  | $ | — |  |  | $ | 13,158 |  |  | $ | 224,793 |  |  | $ | — |
Cash |  |  |  |  |  |  | $ | 520,062 |  |  | $ | 520,062 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Money market funds |  |  |  |  |  |  | 164,194 |  |  | 164,194 |  |  | — |  |  | — |  |  | — |
Level 2: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  |  |  |  |  |  | (881) |  |  | — |  |  | — |  |  | — |  |  | (881) |
Total |  |  |  |  |  |  | $ | 962,413 |  |  | $ | 684,855 |  |  | $ | 36,277 |  |  | $ | 242,162 |  |  | $ | (881) |
| April 30, 2025
| 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)
Changes in Fair Value Recorded in |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Comprehensive Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Level 2: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper | $ | 3,842 |  |  | $ | — |  |  | $ | (1) |  |  | $ | 3,841 |  |  | $ | 500 |  |  | $ | 3,341 |  |  | $ | — |  |  | $ | — |
Corporate notes/bonds | 32,747 |  |  | 83 |  |  | (10) |  |  | 32,820 |  |  | — |  |  | 18,709 |  |  | 14,111 |  |  | — |
U.S. Treasury and Agency Securities | 3,497 |  |  | 4 |  |  | — |  |  | 3,501 |  |  | — |  |  | 1,995 |  |  | 1,506 |  |  | — |
Total debt investments | $ | 40,086 |  |  | $ | 87 |  |  | $ | (11) |  |  | $ | 40,162 |  |  | $ | 500 |  |  | $ | 24,045 |  |  | $ | 15,617 |  |  | $ | — |
Changes in Fair Value Recorded in |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Level 1: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mutual funds (1) |  |  |  |  |  |  | $ | 230,352 |  |  | $ | — |  |  | $ | 12,343 |  |  | $ | 218,009 |  |  | $ | — |
Total equity investments |  |  |  |  |  |  | $ | 230,352 |  |  | $ | — |  |  | $ | 12,343 |  |  | $ | 218,009 |  |  | $ | — |
Cash |  |  |  |  |  |  | $ | 704,091 |  |  | $ | 704,091 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Money market funds |  |  |  |  |  |  | 302,373 |  |  | 302,373 |  |  | — |  |  | — |  |  | — |
Level 2: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  |  |  |  |  |  | 891 |  |  | — |  |  | — |  |  | — |  |  | 891 |
Total |  |  |  |  |  |  | $ | 1,277,869 |  |  | $ | 1,006,964 |  |  | $ | 36,388 |  |  | $ | 233,626 |  |  | $ | 891 |
___________________
(1) | These investments are held in trust for settlement of the Company’s vested obligations of $223.8 million and $205.3 million as of July 31, 2025 and April 30, 2025, respectively, under the ECAP (see Note 6 — Deferred Compensation and Retirement Plans). Unvested obligations under the deferred compensation plans totaled $14.2 million and $19.5 million as of July 31, 2025 and April 30, 2025, respectively. During the three months ended July 31, 2025 and 2024, the fair value of the investments increased; therefore, the Company recognized a gain of $12.3 million and $14.2 million, respectively, which was recorded in other income, net.
Schedule of Financial Instruments and Balance Sheet Classification | The following tables show the Company’s financial instruments and balance sheet classification as of July 31, 2025 and April 30, 2025:
| July 31, 2025
| Fair Value Measurement |  | Balance Sheet Classification
| Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value |  | Cash and Cash Equivalents |  | Marketable Securities, Current |  | Marketable Securities, Non- current |  | Other Accrued Liabilities
| (in thousands)
Changes in Fair Value Recorded in |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Comprehensive Loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Level 2: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper | $ | 4,630 |  |  | $ | — |  |  | $ | (3) |  |  | $ | 4,627 |  |  | $ | 599 |  |  | $ | 4,028 |  |  | $ | — |  |  | $ | — |
Corporate notes/bonds | 32,358 |  |  | 34 |  |  | (31) |  |  | 32,361 |  |  | — |  |  | 19,091 |  |  | 13,270 |  |  | — |
U.S. Treasury and Agency Securities | 4,102 |  |  | 1 |  |  | (4) |  |  | 4,099 |  |  | — |  |  | — |  |  | 4,099 |  |  | — |
Total debt investments | $ | 41,090 |  |  | $ | 35 |  |  | $ | (38) |  |  | $ | 41,087 |  |  | $ | 599 |  |  | $ | 23,119 |  |  | $ | 17,369 |  |  | $ | — |
Changes in Fair Value Recorded in |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Level 1: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mutual funds (1) |  |  |  |  |  |  | $ | 237,951 |  |  | $ | — |  |  | $ | 13,158 |  |  | $ | 224,793 |  |  | $ | — |
Total equity investments |  |  |  |  |  |  | $ | 237,951 |  |  | $ | — |  |  | $ | 13,158 |  |  | $ | 224,793 |  |  | $ | — |
Cash |  |  |  |  |  |  | $ | 520,062 |  |  | $ | 520,062 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Money market funds |  |  |  |  |  |  | 164,194 |  |  | 164,194 |  |  | — |  |  | — |  |  | — |
Level 2: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  |  |  |  |  |  | (881) |  |  | — |  |  | — |  |  | — |  |  | (881) |
Total |  |  |  |  |  |  | $ | 962,413 |  |  | $ | 684,855 |  |  | $ | 36,277 |  |  | $ | 242,162 |  |  | $ | (881) |
| April 30, 2025
| 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)
Changes in Fair Value Recorded in |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Comprehensive Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Level 2: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper | $ | 3,842 |  |  | $ | — |  |  | $ | (1) |  |  | $ | 3,841 |  |  | $ | 500 |  |  | $ | 3,341 |  |  | $ | — |  |  | $ | — |
Corporate notes/bonds | 32,747 |  |  | 83 |  |  | (10) |  |  | 32,820 |  |  | — |  |  | 18,709 |  |  | 14,111 |  |  | — |
U.S. Treasury and Agency Securities | 3,497 |  |  | 4 |  |  | — |  |  | 3,501 |  |  | — |  |  | 1,995 |  |  | 1,506 |  |  | — |
Total debt investments | $ | 40,086 |  |  | $ | 87 |  |  | $ | (11) |  |  | $ | 40,162 |  |  | $ | 500 |  |  | $ | 24,045 |  |  | $ | 15,617 |  |  | $ | — |
Changes in Fair Value Recorded in |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Level 1: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mutual funds (1) |  |  |  |  |  |  | $ | 230,352 |  |  | $ | — |  |  | $ | 12,343 |  |  | $ | 218,009 |  |  | $ | — |
Total equity investments |  |  |  |  |  |  | $ | 230,352 |  |  | $ | — |  |  | $ | 12,343 |  |  | $ | 218,009 |  |  | $ | — |
Cash |  |  |  |  |  |  | $ | 704,091 |  |  | $ | 704,091 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Money market funds |  |  |  |  |  |  | 302,373 |  |  | 302,373 |  |  | — |  |  | — |  |  | — |
Level 2: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  |  |  |  |  |  | 891 |  |  | — |  |  | — |  |  | — |  |  | 891 |
Total |  |  |  |  |  |  | $ | 1,277,869 |  |  | $ | 1,006,964 |  |  | $ | 36,388 |  |  | $ | 233,626 |  |  | $ | 891 |
___________________
(1) | These investments are held in trust for settlement of the Company’s vested obligations of $223.8 million and $205.3 million as of July 31, 2025 and April 30, 2025, respectively, under the ECAP (see Note 6 — Deferred Compensation and Retirement Plans). Unvested obligations under the deferred compensation plans totaled $14.2 million and $19.5 million as of July 31, 2025 and April 30, 2025, respectively. During the three months ended July 31, 2025 and 2024, the fair value of the investments increased; therefore, the Company recognized a gain of $12.3 million and $14.2 million, respectively, which was recorded in other income, net.
Schedule of Fair Value of Assets Derivatives | The fair value of derivatives not designated as hedge instruments are as follows:
| July 31, 2025 |  | April 30, 2025
| (in thousands)
Derivative assets: |  |  |
Foreign currency forward contracts | $ | 554 |  |  | $ | 2,486 |
Derivative liabilities: |  |  |
Foreign currency forward contracts | $ | 1,435 |  |  | $ | 1,595 |
Schedule of Fair Value of Liabilities Derivatives | The fair value of derivatives not designated as hedge instruments are as follows:
| July 31, 2025 |  | April 30, 2025
| (in thousands)
Derivative assets: |  |  |
Foreign currency forward contracts | $ | 554 |  |  | $ | 2,486 |
Derivative liabilities: |  |  |
Foreign currency forward contracts | $ | 1,435 |  |  | $ | 1,595 |

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