
	October 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 Income
Level 2:
Commercial paper	$	1,967	$	—	$	—	$	1,967	$	—	$	1,967	$	—	$	—
Corporate notes/bonds	37,147		68		(11)		37,204		—		22,900		14,304		—
U.S. Treasury and Agency Securities	2,402		3		(1)		2,404		—		—		2,404		—
Total debt investments	$	41,516	$	71	$	(12)	$	41,575	$	—	$	24,867	$	16,708	$	—
Changes in Fair Value Recorded in
Net Income
Level 1:
Mutual funds (1)							$	235,161	$	—	$	14,642	$	220,519	$	—
Total equity investments							$	235,161	$	—	$	14,642	$	220,519	$	—
Cash							$	598,067	$	598,067	$	—	$	—	$	—
Money market funds							163,512		163,512		—		—		—
Level 2:
Foreign currency forward contracts							(700)		—		—		—		(700)
Total							$	1,037,615	$	761,579	$	39,509	$	237,227	$	(700)


	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 $217.7 million and $205.3 million as of October 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 $18.3 million and $19.5 million as of October 31, 2025 and April 30, 2025, respectively. During the three and six months ended October 31, 2025, the fair value of the investments increased; therefore, the Company recognized a gain of $6.7 million and $19.0 million, respectively, which was recorded in other income, net. During the three and six months ended October 31, 2024, the fair value of the investments increased; therefore, the Company recognized a gain of $4.7 million and $18.9 million, respectively, which was recorded in other income, net.

As of October 31, 2025, available-for-sale marketable securities had remaining maturities ranging from less than 1 month to 24 months. During the three and six months ended October 31, 2025, there were $6.6 million and $15.4 million in sales/maturities of available-for-sale marketable securities, respectively. During the three and six months ended October 31, 2024, there were $9.9 million and $16.8 million in sales/maturities of available-for-sale marketable securities, respectively. Investments in marketable securities that are held in trust for settlement of the Company’s vested obligations under the ECAP are equity securities and are based upon the investment selections the employee elects from a pre-determined set of securities in the ECAP and the Company invests in equity securities to mirror these elections. As of October 31, 2025 and April 30, 2025, the Company’s investments in equity securities consisted of mutual funds for which market prices are readily available. Unrealized gains recorded for the period that relate to equity securities still held as of October 31, 2025 and 2024 were $13.6 million and $14.6 million, respectively.

As of October 31, 2025, the total notional amounts of the forward contracts purchased and sold were $83.4 million and $24.4 million, respectively. As of April 30, 2025, the total notional amounts of the forward contracts purchased and sold were $74.7 million and $42.6 million, respectively. The Company recognizes forward contracts as a net asset or net liability on the condensed consolidated balance sheets as such contracts are covered by master netting agreements. During the three and six months ended October 31, 2025, the Company incurred losses of $1.6 million and $2.7 million, respectively, related to forward contracts which are recorded in general and administrative expenses in the accompanying condensed consolidated statements of income. During the three and six months ended October 31, 2024, the Company incurred losses of $0.2 million and $0.3 million, respectively, related to forward contracts which are recorded in general and administrative expenses in the accompanying condensed consolidated statements of income. These foreign currency losses related to forward contracts offset foreign currency gains that result from transactions denominated in a currency other than the Company’s functional currency. The cash flows related to foreign currency forward contracts are included in cash flows from operating activities.