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Stock-Based Compensation (Tables) | 3 Months Ended
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Jul. 31, 2023
Share-Based Payment Arrangement [Abstract] |
Nonvested Restricted Stock Shares Activity | The following table summarizes awards we granted to employees (shares in thousands):
| Three Months Ended July 31,
| 2023 |  | 2022
Restricted Stock: |  |  |
Awards granted (shares) | 789 |  | 494
Weighted average fair value of grant | $ | 31.54 |  |  | $ | 45.99 |
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 three months ended July 31, 2023 and 2022 using the Black-Scholes option-pricing model, and the significant weighted average assumptions used in their determination.
| Three Months Ended July 31,
| 2023 |  | 2022
Weighted average fair value of options on grant date | $ | 7.94 |  |  | $ | 9.42 |
Weighted average assumptions: |  |  |
Expected life of options (years) | 6.3 |  | 5.9
Risk-free interest rate | 3.9 | % |  | 0.5 | %
Expected volatility | 33.5 | % |  | 31.2 | %
Expected dividend yield | 4.3 | % |  | 3.0 | %
Fair value of common stock on grant date | $ | 32.68 |  |  | $ | 45.99 |
Exercise price of stock option grant | $ | 32.68 |  |  | $ | 45.99 |

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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 -Name Accounting Standards Codification -Section 50 -Subparagraph (c) -Paragraph 2 -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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