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v3.23.2

Retirement Plans (Tables) | 12 Months Ended
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Apr. 30, 2023
Retirement Benefits [Abstract] |
Schedule of Net Periodic Pension Expense (Income) for Defined Benefit Plans and Weighted-Average Assumptions | The components of net pension expense (income) for the defined benefit plans and the weighted average assumptions were as follows:
| For the Years Ended April 30,
| 2023 |  | 2022 |  | 2021
| US |  | Non-US |  | US |  | Non-US |  | US |  | Non-US
Service cost | $ | — |  |  | $ | 796 |  |  | $ | — |  |  | $ | 1,196 |  |  | $ | — |  |  | $ | 1,396 |
Interest cost | 11,242 |  |  | 13,389 |  |  | 9,451 |  |  | 11,148 |  |  | 9,504 |  |  | 8,901 |
Expected return on plan assets | (9,924) |  |  | (23,134) |  |  | (12,144) |  |  | (28,118) |  |  | (11,969) |  |  | (26,971) |
Amortization of prior service cost | (154) |  |  | 60 |  |  | (154) |  |  | 67 |  |  | (154) |  |  | 58 |
Amortization of net actuarial loss | 2,295 |  |  | 3,851 |  |  | 2,617 |  |  | 4,846 |  |  | 3,501 |  |  | 4,516 |
Curtailment/settlement (credit) | — |  |  | (1,828) |  |  | — |  |  | (39) |  |  | — |  |  | — |
Net pension expense (income) | $ | 3,459 |  |  | $ | (6,866) |  |  | $ | (230) |  |  | $ | (10,900) |  |  | $ | 882 |  |  | $ | (12,100) |
Discount rate | 4.6 | % |  | 3.0 | % |  | 3.2 | % |  | 1.9 | % |  | 3.1 | % |  | 1.6 | %
Rate of compensation increase | N/A |  | 3.1 | % |  | N/A |  | 3.0 | % |  | N/A |  | 3.0 | %
Expected return on plan assets | 5.0 | % |  | 5.5 | % |  | 5.3 | % |  | 5.5 | % |  | 5.8 | % |  | 5.7 | %
Schedule of Defined Benefit Plans Disclosures | The following table sets forth the changes in, and the status of, our defined benefit plans’ assets and benefit obligations:
| 2023 |  | 2022
| US |  | Non-US |  | US |  | Non-US
CHANGE IN PLAN ASSETS |  |  |  |  |  |  |
Fair value of plan assets, beginning of year | $ | 204,455 |  |  | $ | 442,259 |  |  | $ | 237,129 |  |  | $ | 523,886 |
Actual return on plan assets | (5,953) |  |  | (133,855) |  |  | (21,257) |  |  | (37,543) |
Employer contributions | 3,701 |  |  | 11,600 |  |  | 3,812 |  |  | 12,595 |
Employee contributions | — |  |  | — |  |  | — |  |  | — |
Settlements | — |  |  | (394) |  |  | — |  |  | — |
Benefits paid | (15,596) |  |  | (10,458) |  |  | (15,229) |  |  | (10,703) |
Foreign currency rate changes | — |  |  | (7,097) |  |  | — |  |  | (45,976) |
Fair value, end of year | $ | 186,607 |  |  | $ | 302,055 |  |  | $ | 204,455 |  |  | $ | 442,259 |
CHANGE IN PROJECTED BENEFIT OBLIGATION |  |  |  |  |  |  |
Benefit obligation, beginning of year | $ | (249,570) |  |  | $ | (474,802) |  |  | $ | (302,632) |  |  | $ | (609,614) |
Service cost | — |  |  | (796) |  |  | — |  |  | (1,196) |
Interest cost | (11,242) |  |  | (13,389) |  |  | (9,451) |  |  | (11,148) |
Actuarial gains | 9,328 |  |  | 127,635 |  |  | 47,284 |  |  | 84,746 |
Benefits paid | 15,596 |  |  | 10,458 |  |  | 15,229 |  |  | 10,703 |
Foreign currency rate changes | — |  |  | 5,416 |  |  | — |  |  | 51,660 |
Settlements and other | — |  |  | 2,470 |  |  | — |  |  | 47 |
Benefit obligation, end of year | $ | (235,888) |  |  | $ | (343,008) |  |  | $ | (249,570) |  |  | $ | (474,802) |
Underfunded status, end of year | $ | (49,281) |  |  | $ | (40,953) |  |  | $ | (45,115) |  |  | $ | (32,543) |
AMOUNTS RECOGNIZED ON THE STATEMENT OF FINANCIAL POSITION |  |  |  |  |  |  |
Noncurrent assets | — |  |  | 830 |  |  | — |  |  | 5,855 |
Current pension liability | (3,557) |  |  | (1,203) |  |  | (3,545) |  |  | (1,346) |
Noncurrent pension liability | (45,724) |  |  | (40,580) |  |  | (41,570) |  |  | (37,052) |
Net amount recognized in statement of financial position | $ | (49,281) |  |  | $ | (40,953) |  |  | $ | (45,115) |  |  | $ | (32,543) |
AMOUNTS RECOGNIZED IN ACCUMULATED OTHER COMPREHENSIVE LOSS (BEFORE TAX) CONSIST OF |  |  |  |  |  |  |
Net actuarial losses | $ | (84,367) |  |  | $ | (197,701) |  |  | $ | (80,114) |  |  | $ | (171,274) |
Prior service cost gains (losses) | 1,792 |  |  | (1,058) |  |  | 1,946 |  |  | (1,165) |
Total accumulated other comprehensive loss | $ | (82,575) |  |  | $ | (198,759) |  |  | $ | (78,168) |  |  | $ | (172,439) |
Change in accumulated other comprehensive loss | $ | (4,407) |  |  | $ | (26,320) |  |  | $ | 16,345 |  |  | $ | 42,818 |
INFORMATION FOR PENSION PLANS WITH AN ACCUMULATED BENEFIT OBLIGATION IN EXCESS OF PLAN ASSETS |  |  |  |  |  |  |
Accumulated benefit obligation | $ | 235,888 |  |  | $ | 35,068 |  |  | $ | 249,570 |  |  | $ | 37,801 |
Fair value of plan assets | $ | 186,607 |  |  | $ | 496 |  |  | $ | 204,455 |  |  | $ | 475 |
INFORMATION FOR PENSION PLANS WITH A PROJECTED BENEFIT OBLIGATION IN EXCESS OF PLAN ASSETS |  |  |  |  |  |  |
Projected benefit obligation | $ | 235,888 |  |  | $ | 335,109 |  |  | $ | 249,570 |  |  | $ | 38,871 |
Fair value of plan assets | $ | 186,607 |  |  | $ | 293,326 |  |  | $ | 204,455 |  |  | $ | 475 |
WEIGHTED AVERAGE ASSUMPTIONS USED IN DETERMINING ASSETS AND LIABILITIES |  |  |  |  |  |  |
Discount rate | 5.1 | % |  | 4.8 | % |  | 4.6 | % |  | 3.0 | %
Rate of compensation increase | N/A |  | 3.0 | % |  | N/A |  | 3.1 | %
Accumulated benefit obligations | $ | (235,888) |  |  | $ | (329,329) |  |  | $ | (249,570) |  |  | $ | (450,037) |
Schedule of Pension Plan Assets at Fair Value by Level Within Fair Value Hierarchy | The following tables set forth, by level within the fair value hierarchy, pension plan assets at their fair value as of April 30:
| 2023 |  | 2022
| Level 1 |  | Level 2 |  | NAV |  | Total |  | Level 1 |  | Level 2 |  | NAV |  | Total
US Plan Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Global Equity Securities: Limited Partnership |  |  | $ | 6,537 |  |  | $ | 73,469 |  |  | $ | 80,006 |  |  | $ | 7,477 |  |  |  |  | $ | 77,849 |  |  | $ | 85,326 |
Fixed Income Securities: Commingled Trust Funds |  |  |  |  | 106,601 |  |  | 106,601 |  |  |  |  |  |  | 119,129 |  |  | 119,129 |
Total Assets |  |  | $ | 6,537 |  |  | $ | 180,070 |  |  | $ | 186,607 |  |  | $ | 7,477 |  |  |  |  | $ | 196,978 |  |  | $ | 204,455 |
Non-US Plan Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
US equities | $ | — |  |  | $ | 48,806 |  |  |  |  | $ | 48,806 |  |  | $ | — |  |  | $ | 48,443 |  |  |  |  | $ | 48,443 |
Non-US equities | — |  |  | 39,618 |  |  |  |  | 39,618 |  |  | — |  |  | 112,162 |  |  |  |  | 112,162 |
Balanced managed funds | — |  |  | 58,036 |  |  |  |  | 58,036 |  |  | — |  |  | 94,623 |  |  |  |  | 94,623 |
Fixed income securities: Commingled funds | — |  |  | 133,878 |  |  |  |  | 133,878 |  |  | — |  |  | 185,192 |  |  |  |  | 185,192 |
Other: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate/other | — |  |  | 496 |  |  |  |  | 496 |  |  | — |  |  | 475 |  |  |  |  | 475 |
Cash and cash equivalents | 1,902 |  |  | 19,319 |  |  |  |  | 21,221 |  |  | 1,338 |  |  | 26 |  |  |  |  | 1,364 |
Total Non-US plan assets | $ | 1,902 |  |  | $ | 300,153 |  |  | $ | — |  |  | $ | 302,055 |  |  | $ | 1,338 |  |  | $ | 440,921 |  |  | $ | — |  |  | $ | 442,259 |
Total plan assets | $ | 1,902 |  |  | $ | 306,690 |  |  | $ | 180,070 |  |  | $ | 488,662 |  |  | $ | 8,815 |  |  | $ | 440,921 |  |  | $ | 196,978 |  |  | $ | 646,714 |
Schedule of Expected Benefit Payments | Benefit payments to retirees from all defined benefit plans are expected to be the following in the fiscal year indicated:
Fiscal Year |  | US |  | Non-US |  | Total
2024 |  | $ | 15,889 |  |  | $ | 11,986 |  |  | $ | 27,875 |
2025 |  | 15,529 |  |  | 14,064 |  |  | 29,593 |
2026 |  | 15,333 |  |  | 13,124 |  |  | 28,457 |
2027 |  | 15,398 |  |  | 13,882 |  |  | 29,280 |
2028 |  | 15,482 |  |  | 14,485 |  |  | 29,967 |
2029–2033 |  | 76,729 |  |  | 86,148 |  |  | 162,877 |
Total |  | $ | 154,360 |  |  | $ | 153,689 |  |  | $ | 308,049 |

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