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CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - UNAUDITED - USD ($)
$ in Thousands
Jul. 31, 2022
Apr. 30, 2022
Current assets    
Cash and cash equivalents $ 104,495 $ 100,397
Accounts receivable, net of allowance for credit losses of $23.5 million and $21.2 million, respectively 281,443 331,960
Inventories, net 33,422 36,585
Prepaid expenses and other current assets 81,410 81,924
Total current assets 500,770 550,866
Technology, property and equipment, net 258,454 271,572
Intangible assets, net 895,808 931,429 [1]
Goodwill 1,289,242 1,302,142 [2]
Operating lease right-of-use assets 103,196 111,719
Other non-current assets 181,838 193,967
Total assets 3,229,308 3,361,695
Current liabilities    
Accounts payable 56,677 77,438
Accrued royalties 93,552 101,596
Short-term portion of long-term debt [3] 21,875 18,750
Contract liabilities [4] 407,098 538,126
Accrued employment costs 80,200 117,121
Short-term portion of operating lease liabilities 19,788 20,576
Other accrued liabilities 101,554 95,812
Total current liabilities 780,744 969,419
Long-term debt 917,236 768,277
Accrued pension liability 77,511 78,622
Deferred income tax liabilities 159,717 180,065
Operating lease liabilities 127,055 132,541
Other long-term liabilities 84,719 90,502
Total liabilities 2,146,982 2,219,426
Shareholders' equity    
Preferred stock, $1 par value per share: Authorized shares - 2 million, Issued shares - 0 0 0
Additional paid-in-capital 458,578 459,297
Retained earnings 1,883,857 1,921,160
Accumulated other comprehensive loss, net of tax (523,289) (508,146)
Less treasury shares at cost (Class A - 23,557 and 23,515 as of July 31, 2022 and April 30, 2022, respectively; Class B - 3,924 and 3,924 as of July 31, 2022 and April 30, 2022, respectively) (820,002) (813,224)
Total shareholders' equity 1,082,326 1,142,269
Total liabilities and shareholders' equity 3,229,308 3,361,695
Class A [Member]    
Shareholders' equity    
Common stock 70,226 70,226
Class B [Member]    
Shareholders' equity    
Common stock $ 12,956 $ 12,956
[1] The developed technology balance as of April 30, 2022 is presented net of accumulated impairments and write-offs of $2.8 million. The indefinite-lived brands and trademarks as of April 30, 2022 is net of accumulated impairments of $93.1 million.
[2] The Research segment was previously referred to as Research Publishing & Platforms.
[3] Relates to our term loan A under the Amended and Restated RCA.
[4] The sales return reserve recorded in Contract liabilities is $29.6 million and $31.1 million, as of July 31, 2022 and April 30, 2022, respectively.