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Stock-Based Compensation (Tables) | 12 Months Ended
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Apr. 30, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The following table provides the estimated weighted average fair value for options granted during the years ended April 30 using the Black-Scholes option-pricing model, and the significant weighted average assumptions used in their determination.
| 2023 |  | 2022
Weighted average fair value of options on grant date | $ | 9.24 |  |  | $ | 11.75 |
Weighted average assumptions: |  |  |
Expected life of options (years) | 5.9 |  | 6.3
Risk-free interest rate | 2.0 | % |  | 1.2 | %
Expected volatility | 32.4 | % |  | 30.7 | %
Expected dividend yield | 3.4 | % |  | 2.4 | %
Fair value of common stock on grant date | $ | 41.30 |  |  | $ | 56.51 |
Exercise price of stock option grant | $ | 41.30 |  |  | $ | 61.84 |
Schedule of Share-based Payment Arrangement, Option, Activity | A summary of the activity and status of our stock option plans follows during the year ended April 30, 2023:
| Number of Options (in 000’s) |  | Weighted Average Exercise Price |  | Weighted Average Remaining Term (in years) |  | Aggregate Intrinsic Value (in millions)
Outstanding at beginning of year | 310 |  | $ | 59.89 |  |  |  |  |
Granted | 20 |  | $ | 41.30 |  |  |  |  |
Exercised | (14) |  | $ | 39.53 |  |  |  |  |
Expired or forfeited | (4) |  | $ | 48.06 |  |  |  |  |
Outstanding at end of year | 312 |  | $ | 59.77 |  |  | 7.6 |  | $ | — |
Exercisable at end of year | 103 |  | $ | 60.49 |  |  | 6.1 |  | $ | — |
Vested and expected to vest in the future at April 30 | 302 |  | $ | 60.18 |  |  | 7.6 |  | $ | — |
Schedule of Share-based Payment Arrangement, Option, Exercise Price Range | The following table summarizes information about stock options outstanding and exercisable at April 30, 2023:
| Options Outstanding |  | Options Exercisable
Range of Exercise Prices | Number of Options (in 000’s) |  | Weighted Average Remaining Term (in years) |  | Weighted Average Exercise Price |  | Number of Options (in 000’s) |  | Weighted Average Exercise Price
$36.60 to $39.53 | 13 |  | 7.7 |  | $ | 37.26 |  |  | 3 |  | $ | 39.53 |
$45.99 to $53.79 | 40 |  | 8.7 |  | $ | 51.43 |  |  | 3 |  | $ | 53.24 |
$55.62 to $63.07 | 259 |  | 7.5 |  | $ | 62.17 |  |  | 97 |  | $ | 61.34 |
Total/average | 312 |  | 7.6 |  | $ | 59.77 |  |  | 103 |  | $ | 60.49 |
Schedule of Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity | Activity for performance-based and other restricted stock awards during the years ended April 30, was as follows (shares in thousands):
| 2023 |  | 2022 |  | 2021
| Restricted Shares |  | Weighted Average Grant Date Value |  | Restricted Shares |  | Restricted Shares
Nonvested shares at beginning of year | 1,274 |  | $ | 49.17 |  |  | 1,280 |  | 943
Granted | 540 |  | $ | 45.23 |  |  | 658 |  | 706
Change in shares due to performance | (44) |  | $ | 43.29 |  |  | (3) |  | 118
Vested and issued | (544) |  | $ | 47.27 |  |  | (432) |  | (362)
Forfeited | (153) |  | $ | 48.39 |  |  | (229) |  | (125)
Nonvested shares at end of year | 1,073 |  | $ | 48.49 |  |  | 1,274 |  | 1,280

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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + 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 -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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