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Fair Value Measurement | 9 Months Ended
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Jan. 28, 2017
Fair Value Disclosures [Abstract] |
Fair Value Measurement | Note 12. Fair Value Measurement ASC 820, Fair Value Measurement, defines fair value as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. It also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The fair value hierarchy within ASC 820 distinguishes between the following three levels of inputs which may be utilized when measuring fair value. Level 1 - Quoted prices in active markets for identical assets or liabilities. Level 2 - Observable inputs other than quoted prices included within Level 1 for the assets or liabilities, either directly or indirectly (for example, quoted market prices for similar assets and liabilities in active markets or quoted market prices for identical assets or liabilities in markets not considered to be active, inputs other than quoted prices that are observable for the asset or liability, or market-corroborated input). Level 3 - Unobservable inputs supported by little or no market activity based on our own assumptions used to measure assets and liabilities. The following table sets forth by Level within the fair value hierarchy our financial assets and liabilities that were accounted for at fair value on a recurring basis at January 28, 2017 and April 30, 2016 according to the valuation techniques we used to determine their fair values. There have been no transfers of assets or liabilities among the fair value hierarchies presented.
| Fair Value Measurements
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Balance as of January 28, 2017 |  |  |  |  |  |  |
Cash and cash equivalents | $ | 48,377 |  |  | $ | — |  |  | $ | — |  |  | $ | 48,377 |
Restricted cash | 206 |  |  | — |  |  | — |  |  | 206 |
Available-for-sale securities: |  |  |  |  |  |  |  |  |
Certificates of deposit | — |  |  | 13,076 |  |  | — |  |  | 13,076 |
U.S. Government securities | 400 |  |  | — |  |  | — |  |  | 400 |
U.S. Government sponsored entities | — |  |  | 7,644 |  |  | — |  |  | 7,644 |
Municipal obligations | — |  |  | 6,914 |  |  | — |  |  | 6,914 |
Derivatives - asset position | — |  |  | 72 |  |  | — |  |  | 72 |
Derivatives - liability position | — |  |  | (206 | ) |  | — |  |  | (206 | )
Contingent liability | — |  |  | — |  |  | (1,920 | ) |  | (1,920 | )
| $ | 48,983 |  |  | $ | 27,500 |  |  | $ | (1,920 | ) |  | $ | 74,563 |
Balance as of April 30, 2016 |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 28,328 |  |  | $ | — |  |  | $ | — |  |  | $ | 28,328 |
Restricted cash | 198 |  |  | — |  |  | — |  |  | 198 |
Available-for-sale securities: |  |  |  |  |  |  |  |  |
Certificates of deposit | — |  |  | 14,927 |  |  | — |  |  | 14,927 |
U.S. Government sponsored entities | — |  |  | 8,522 |  |  | — |  |  | 8,522 |
Municipal obligations | — |  |  | 1,223 |  |  | — |  |  | 1,223 |
Derivatives - asset position | — |  |  | — |  |  | — |  |  | — |
Derivatives - liability position | — |  |  | (453 | ) |  | — |  |  | (453 | )
Contingent liability | — |  |  | — |  |  | (1,955 | ) |  | (1,955 | )
| $ | 28,526 |  |  | $ | 24,219 |  |  | $ | (1,955 | ) |  | $ | 50,790 |
A roll forward of the Level 3 contingent liability, both short and long-term, for the nine months ended January 28, 2017 is as follows:
Contingent liability as of April 30, 2016 |  | $ | 1,955 |
Interest |  | 42 |
Foreign currency translation |  | (77 | )
Contingent liability as of January 28, 2017 |  | $ | 1,920 |
The following methods and assumptions were used to estimate the fair value of each class of financial instrument. There have been no changes in the valuation techniques used by us to value our financial instruments. Cash and cash equivalents: Consists of cash on hand in bank deposits and highly liquid investments, primarily money market accounts. The fair value was measured using quoted market prices in active markets. The carrying amount approximates fair value. Restricted cash: Consists of cash and cash equivalents held in bank deposit accounts to secure issuances of foreign bank guarantees. The fair value of restricted cash was measured using quoted market prices in active markets. The carrying amount approximates fair value. Certificates of deposit: Consists of time deposit accounts with original maturities of less than three years and various yields. The fair value of these securities was measured based on valuations observed in less active markets than Level 1 investments from a third-party financial institution. The carrying amount approximates fair value. U.S. Government securities: Consists of U.S. Government treasury bills, notes, and bonds with original maturities of less than three years and various yields. The fair value of these securities was measured using quoted market prices in active markets. U.S. Government sponsored entities: Consists of Fannie Mae and Federal Home Loan Bank investment grade debt securities trading with sufficient frequency and volume to enable us to obtain pricing information on an ongoing basis. The fair value of these securities was measured based on valuations observed in less active markets than Level 1 investments. The contractual maturities of these investments vary from one month to three years. Municipal obligations: Consist of investment grade municipal bonds trading with sufficient frequency and volume to enable us to obtain pricing information on an ongoing basis. The contractual maturities of these investments vary from two to three years. The fair value of these bonds was measured based on valuations observed in less active markets than Level 1 investments. Derivatives – currency forward contracts: Consists of currency forward contracts trading with sufficient frequency and volume to enable us to obtain pricing information on an ongoing basis. The fair value of these securities was measured based on a valuation from a third-party bank. See "Note 13. Derivative Financial Instruments" included elsewhere in this Quarterly Report on Form 10-Q for more information regarding our derivatives. Contingent liability: Consists of a liability measured on payments owed for a business combination if certain conditions in the business performance are met. We have included the payment obligation in other long-term obligations in our consolidated balance sheet. Non-recurring measurements: The fair value measurement standard also applies to certain non-financial assets and liabilities measured at fair value on a nonrecurring basis. Certain long-lived assets such as goodwill, intangible assets and property, plant and equipment are measured at fair value in connection with business combinations or when an impairment is recognized and the related assets are written down to fair value. We did not have any business combinations during the nine months ended January 28, 2017 and used Level 3 inputs to value the assets and liabilities for business combinations during fiscal 2016. See "Note 6. Business Combinations" included elsewhere in this Quarterly Report on Form 10-Q for more information. We used Level 3 inputs to measure and record a technology and customer list intangible asset impairment of $830 during the second quarter of fiscal 2017. Other measurements using fair value: We measure fixed rate long-term receivables using a discounted cash flow analysis using Level 2 inputs such as current interest rates relating to the credit quality of the customer. In addition, we measure fixed rate long-term marketing obligations, which are included in other long-term obligations on our consolidated balance sheet, using a discounted cash flow analysis using Level 2 inputs such as the current interest rate environment for debt as related to our credit quality. The total long-term receivables and long-term marketing obligations approximate fair value.

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- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14064-108612 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13537-108611 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13504-108611 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13433-108611 + Details
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