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Derivative Instruments and Activities | 12 Months Ended
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Apr. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivative Instruments and Activities | Derivative Instruments and Hedging Activities Interest Rate Contracts As of April 30, 2026, we had total debt outstanding of $683.4 million, net of unamortized issuance costs of $0.3 million. The $683.7 million of debt outstanding are variable rate loans under the Amended and Restated CA. The carrying value of the debt approximates fair value. As of April 30, 2026 and 2025, the interest rate swap agreements we maintained were designated as fully effective cash flow hedges as defined under ASC Topic 815. As a result, the impact on our Consolidated Statements of Income (Loss) from changes in the fair value of the interest rate swaps was fully offset by changes in the interest expense on the underlying variable rate debt instruments. It is management’s intention that the notional amount of interest rate swaps be less than the variable rate loans outstanding during the life of the derivatives. As of April 30, 2026 and 2025, we had interest rate swaps outstanding with a combined notional amount of $300.0 million and $500.0 million, respectively, that were designated as cash flow hedges. We record the fair value of our interest rate swaps on a recurring basis using Level 2 inputs of quoted prices for similar assets or liabilities in active markets. The fair value of our interest rate swaps designated as cash flow hedges as of April 30 are reflected in our Consolidated Statements of Financial Position as follows:
Asset (Liability) |  | Balance Sheet Location | 2026 |  | 2025 |
Current asset portion |  | Prepaid expenses and other current assets | $ | — |  |  | $ | 197 |  |
Current liability portion |  | Other accrued liabilities | (156) |  |  | (118) |  |
Non-current liability portion |  | Other long-term liabilities | (716) |  |  | (3,438) |  |
Total cash flow hedges |  |  | $ | (872) |  |  | $ | (3,358) |  |
The effect of our interest rate swaps on the Consolidated Statements of Comprehensive Income (Loss) and the Consolidated Statements of Income (Loss) are as follows:
|  |  |  |  | For the Years Ended April 30, |
|  |  |  |  | 2026 |  | 2025 |  | 2024 |
Amount of pretax gains (losses) recognized in Other comprehensive income |  |  |  |  | $ | 3,453 |  |  | $ | (8,186) |  |  | $ | 15,164 |  |
Amount of pretax gains reclassified from Accumulated other comprehensive loss into Interest expense |  |  |  |  | $ | 829 |  |  | $ | 4,755 |  |  | $ | 12,420 |  |
Based on the amount in Accumulated other comprehensive loss at April 30, 2026, approximately $(0.6) million, net of tax, would be reclassified into Net income in the next twelve months. Foreign Currency Contracts We may enter into foreign currency forward contracts to manage our exposure on certain foreign currency denominated assets and liabilities. The foreign currency forward exchange contracts are marked to market through Net foreign exchange transaction losses on our Consolidated Statements of Income (Loss) and carried at fair value on our Consolidated Statements of Financial Position. Foreign currency denominated assets and liabilities are remeasured at spot rates in effect on the balance sheet date, with the effects of changes in spot rates reported in Net foreign exchange transaction losses on our Consolidated Statements of Income (Loss). As of April 30, 2026 and 2025, we did not maintain any open foreign currency forward contracts. In addition, we did not maintain any open foreign currency forward contracts during the years ended April 30, 2026, 2025, and 2024.

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