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Income Taxes
 3 Months Ended
Jul. 31, 2021
Income Taxes [Abstract]  
Income Taxes
Note 13 — Income Taxes

The effective tax rate for the three months ended July 31, 2021 was 68.6% compared to 45.1% for the three months ended July 31, 2020. The rate for each three-month period was greater than the US statutory rate primarily due to increases in the UK statutory rate in each period, resulting in a noncash deferred tax expense in each period from the re-measurement of our applicable UK net deferred tax liabilities. The rate for the three months ended July 31, 2021 was greater than the rate for the three months ended July 31, 2020 due to a larger increase in the UK statutory rate than the prior period.

During the first three months of fiscal 2022, the UK enacted legislation that increased its statutory rate from 19% to 25% effective April 1, 2023, resulting in a $20.7 million non-cash deferred tax expense. During the first three months of fiscal 2021, the UK officially enacted legislation that increased its statutory rate from 17% to 19%, resulting in a $6.7 million non-cash deferred tax expense.