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Stock-Based Compensation (Tables) | 12 Months Ended
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Apr. 30, 2017
Stock-Based Compensation [Abstract] |
Estimated Weighted-Average Fair Value for Options Granted and Significant Weighted-Average Assumptions Used | The following table provides the estimated weighted average fair value for options granted each period using the Black-Scholes option-pricing model and the significant weighted average assumptions used in their determination. The expected life represents an estimate of the period of time stock options will be outstanding based on the historical exercise behavior of option recipients. The risk-free interest rate is based on the corresponding U.S. Treasury yield curve in effect at the time of the grant. The expected volatility is based on the historical volatility of the Company’s Common Stock price over the estimated life of the option while, the dividend yield is based on the expected dividend payments to be made by the Company.
| For the Years Ended April 30 |
| 2016 |  | 2015 |
Fair Value of Options on Grant Date | $14.77 |  | $16.97 |
Weighted Average assumptions: |  |  |  |
Expected Life of Options (years) | 7.2 |  | 7.2 |
Risk-Free Interest Rate | 2.1% |  | 2.2% |
Expected Volatility | 29.7% |  | 30.9% |
Expected Dividend Yield | 2.1% |  | 1.9% |
Fair Value of Common Stock on Grant Date | $55.99 |  | $59.70 |
Summary of Activity and Status of Stock Option Plans | A summary of the activity and status of the Company’s stock option plans follows:
| 2017 |  | 2016 |  | 2015
| Options (in 000’s) | Weighted Average Exercise Price | Weighted Average Remaining Term (in years) | Aggregate Intrinsic Value (in millions) |  | Options (in 000’s) | Weighted Average Exercise Price |  | Options (in 000’s) | Weighted Average Exercise Price
Outstanding at Beginning of Year | 1,966 | $46.62 |  |  |  | 1,921 | $45.50 |  | 2,508 | $42.34
Granted | - | $ - |  |  |  | 166 | $55.99 |  | 189 | $59.70
Exercised | (469) | $43.74 |  |  |  | (103) | $40.22 |  | (747) | $38.32
Expired or Forfeited | (68) | $49.91 |  |  |  | (18) | $51.02 |  | (29) | $49.32
Outstanding at End of Year | 1,429 | $47.39 | 3.6 | $9.2 |  | 1,966 | $46.62 |  | 1,921 | $45.50
Exercisable at End of Year | 1,064 | $46.04 | 3.0 | $7.3 |  | 1,140 | $45.22 |  | 815 | $42.31
Vested and Expected to Vest in the Future at April 30 | 1,249 | $45.88 | 2.7 | $8.5 |  | 1,925 | $46.61 |  | 1,872 | $42.91
Summary of Stock Options Outstanding and Exercisable | The following table summarizes information about stock options outstanding and exercisable at April 30, 2017:
| Options Outstanding |  | Options Exercisable
Range of Exercise Prices | Number of Options (in 000’s) | Weighted Average Remaining Term (in years) | Weighted Average Exercise Price |  | Number of Options (in 000’s) | Weighted Average Exercise Price
$35.04 | 69 | 2.0 | $35.04 |  | 69 | $35.04
$39.53 to $40.02 | 398 | 3.8 | $39.67 |  | 260 | $39.74
$47.55 to $49.55 | 660 | 2.3 | $48.53 |  | 659 | $48.53
$55.99 to $59.70 | 302 | 6.4 | $57.88 |  | 76 | $56.16
Total/Average | 1,429 | 3.6 | $47.39 |  | 1,064 | $46.04
Activity for Performance-Based and Other Restricted Stock Awards | Under certain circumstances relating to a change of control or termination, as defined, the restrictions would lapse and shares would vest earlier. Activity for performance-based and other restricted stock awards during fiscal years 2017, 2016 and 2015 was as follows (shares in thousands):
| 2017 |  | 2016 | 2015
| Restricted Shares | Weighted Average Grant Date Value |  | Restricted Shares | Restricted Shares
Nonvested Shares at Beginning of Year | 915 | $50.75 |  | 752 | 745
Granted | 509 | $50.56 |  | 289 | 363
Change in shares due to performance | (67) | $58.23 |  | 86 | (65)
Vested and Issued | (267) | $45.29 |  | (154) | (159)
Forfeited | (177) | $49.95 |  | (58) | (132)
Nonvested Shares at End of Year | 913 | $51.85 |  | 915 | 752

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- Definition Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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