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Stock-Based Compensation (Tables) | 3 Months Ended
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Jul. 31, 2022
Stock-Based Compensation [Abstract] |
Awards Granted to Employees | The following table summarizes awards we granted to employees (shares in thousands):
|  | Three Months Ended July 31, |
|  | 2022 |  |  | 2021 |
Restricted Stock: |  |  |  |  |  |
Awards granted (shares) |  |  | 494 |  |  |  | 433 |
Weighted average fair value of grant |  | $ | 45.99 |  |  | $ | 57.36 |
Significant Assumptions Used in Fair Value Determination | The following table provides the estimated weighted average fair value for options granted during the three months ended July 31, 2022 and 2021 using the Black-Scholes option-pricing model, and the significant weighted average assumptions used in their determination.
|  | Three Months Ended July 31, |
|  | 2022 |  |  | 2021 |
Weighted average fair value of options on grant date |  | $ | 9.42 |  |  | $ | 11.80 |
Weighted Average Assumptions: |  |  |  |  |  |  |  |
Expected life of options (years) |  |  | 5.9 |  |  |  | 6.3 |
Risk-free interest rate |  |  | 0.5 | % |  |  | 1.1 | %
Expected volatility |  |  | 31.2 | % |  |  | 30.6 | %
Expected dividend yield |  |  | 3.0 | % |  |  | 2.4 | %
Fair value of common stock on grant date |  | $ | 45.99 |  |  | $ | 57.34 |
Exercise price of stock option grant |  | $ | 45.99 |  |  | $ | 63.07 |

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- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=128089324&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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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