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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Jan. 31, 2022
Jan. 31, 2021
Jan. 31, 2022
Jan. 31, 2021
Operating activities        
Net income $ 35,366 $ 22,161 $ 105,163 $ 106,927
Adjustments to reconcile net income to net cash provided by operating activities:        
Amortization of intangible assets 21,056 19,032 63,683 53,089
Amortization of product development assets     26,662 25,323
Depreciation and amortization of technology, property and equipment     72,139 68,841
Restructuring and related (credits) charges [1] 448 20,675 (1,161) 24,813
Stock-based compensation expense 6,300 5,600 19,361 14,744
Employee retirement plan expense     14,309 9,080
Foreign exchange transaction losses 488 5,694 1,488 6,473
Gain on sale of certain assets 0 0 (3,694) 0
Other noncash charges     39,044 29,256
Net change in operating assets and liabilities     (178,510) (183,720)
Net cash provided by operating activities     158,484 154,826
Investing activities        
Product development spending     (20,388) (17,103)
Additions to technology, property and equipment     (60,668) (58,176)
Businesses acquired in purchase transactions, net of cash acquired     (70,620) (298,590)
Proceeds related to the sale of certain assets     3,375 0
Acquisitions of publication rights and other     (3,750) (18,524)
Net cash used in investing activities     (152,051) (392,393)
Financing activities        
Repayments of long-term debt     (268,466) (452,927)
Borrowings of long-term debt     373,800 627,097
Purchases of treasury shares     (24,867) (7,063)
Change in book overdrafts     (4,000) 7,929
Cash dividends     (57,900) (57,802)
Impact of tax withholding on stock-based compensation and other     (5,468) (1,391)
Net cash provided by financing activities     13,099 115,843
Effects of exchange rate changes on cash, cash equivalents, and restricted cash     (3,875) 10,631
Cash reconciliation:        
Cash and cash equivalents     93,795 202,464
Restricted cash included in Prepaid expenses and other current assets     564 583
Balance at beginning of period     94,359 203,047
Increase/(decrease) for the period     15,657 (111,093)
Cash and cash equivalents 109,444 91,321 109,444 91,321
Restricted cash included in Prepaid expenses and other current assets 572 633 572 633
Balance at end of period $ 110,016 $ 91,954 110,016 91,954
Cash paid during the period for:        
Interest     13,601 12,697
Income taxes, net of refunds     34,040 46,148
XYZ Media [Member]        
Noncash items:        
Shares issued in connection with the acquisition of a business     $ 7,363 $ 0
[1] See Note 9, “Restructuring and Related Charges (Credits)” for these charges by segment.