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Stock-Based Compensation (Tables)

9 Months Ended

Jan. 31, 2022

Stock-Based Compensation [Abstract]

Awards Granted to Employees

The following table summarizes awards we granted to employees (shares in thousands):

		Nine Months Ended January 31,
		2022				2021
Restricted Stock:
Awards granted (shares)			653				691
Weighted average fair value of grant		$	57.00			$	41.26

Significant Assumptions Used in Fair Value Determination

The following table provides the estimated weighted average fair value for options granted during the nine months ended January 31, 2022 using the Black-Scholes option-pricing model, and the significant weighted average assumptions used in their determination.

		Nine Months Ended January 31, 2022
Weighted average fair value of options on grant date		$	11.72
Weighted average assumptions:
Expected life of options (years)			6.3
Risk-free interest rate			1.2	%
Expected volatility			30.7	%
Expected dividend yield			2.4	%
Fair value of common stock on grant date		$	56.66
Exercise price of stock option grant		$	62.18

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Tabular disclosure of the changes in outstanding nonvested restricted stock shares.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
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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.

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