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Income Taxes
 6 Months Ended
Oct. 31, 2021
Income Taxes [Abstract]  
Income Taxes
Note 13 — Income Taxes

The effective tax rate for the three and six months ended October 31, 2021 was 20.7% and 39.1%, respectively, compared with 0.1% and 13.7% for the three and six months ended October 31, 2020, respectively.

The rate for the three months ended October 31, 2021 was slightly lower than the US statutory rate due to the mix of income at lower rates. The rate for the six months ended October 31, 2021, was greater than the US statutory rate due to increases in the UK statutory rate, resulting in a noncash deferred tax expense from the re-measurement of our applicable UK net deferred tax liabilities.

The rate for the six months ended October 31, 2021 was greater than the rate for the six months ended October 31, 2020 due to a larger increase in the UK statutory rate than the prior period. In addition, during the three and six months ended October 31, 2020, as a result of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and certain regulations issued in late July 2020, we were able to carry back certain US net operating losses (NOLs), decreasing the rates for both the three and six months ended October 31, 2020. We claimed a $20.7 million tax refund which was received in February 2021, plus interest.

During the three months ended July 31, 2021, 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 three months ended July 31, 2020, 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.