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Note 11 - Comprehensive Income | 12 Months Ended
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Apr. 30, 2019
Notes to Financial Statements |
Comprehensive Income (Loss) Note [Text Block] |
Note 11 - Comprehensive Income:
The FASB's ASC Comprehensive Income topic requires the reporting of comprehensive income in addition to net income from operations. Comprehensive income is a more inclusive financial reporting methodology that includes disclosure of certain financial information that otherwise would not be recognized in the calculation of net income.
As of April 30, 2019 and April 30, 2018, the Company held equity securities consisting primarily of ETFs with high relative dividend yields that are classified as securities available-for-sale on the Consolidated Balance Sheets. As of April 30, 2019 and April 30, 2018 the Company also held fixed income securities consisting of certificates of deposits and securities issued by federal, state, and local governments within the United States that are classified as securities available-for-sale on the Consolidated Balance Sheets. The change in valuation of these securities, net of deferred income taxes, has been recorded in accumulated other comprehensive income in the Company's Consolidated Balance Sheets.
The components of comprehensive income that are included in the Consolidated Statement of Changes in Shareholders' Equity for the twelve months ending April 30, 2019 are as follows:
|  | Fiscal Year Ended April 30, 2019 |
($ in thousands) |  | Amount Before Tax |  |  | Tax (Expense) / Benefit |  |  | Amount Net of Tax |
Change in unrealized gains on securities |  | $ | 1,133 |  |  | $ | (238 | ) |  | $ | 895 |
|  | $ | 1,133 |  |  | $ | (238 | ) |  | $ | 895 |
The components of comprehensive income that are included in the Consolidated Statement of Changes in Shareholders' Equity for the twelve months ending April 30, 2018 are as follows:
|  | Fiscal Year Ended April 30, 2018 |
($ in thousands) |  | Amount Before Tax |  |  | Tax (Expense) / Benefit |  |  | Amount Net of Tax |
Change in unrealized gains on securities |  | $ | 437 |  |  | $ | 8 |  |  | $ | 445 |
Less: Gains realized in net income |  |  | (152 | ) |  |  | 32 |  |  |  | (120 | )
|  | $ | 285 |  |  | $ | 40 |  |  | $ | 325 |
The components of comprehensive income that are included in the Consolidated Statement of Changes in Shareholders' Equity for the twelve months ending April 30, 2017 are as follows:
|  | Fiscal Year Ended April 30, 2017 |
($ in thousands) |  | Amount Before Tax |  |  | Tax (Expense) / Benefit |  |  | Amount Net of Tax |
Change in unrealized gains on securities |  | $ | 554 |  |  | $ | (196 | ) |  | $ | 358 |
Less: Gains realized in net income |  |  | (39 | ) |  |  | 14 |  |  |  | (25 | )
|  | $ | 515 |  |  | $ | (182 | ) |  | $ | 333 |

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -URI http://asc.fasb.org/topic&trid=2134417 + Details
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- References No definition available. + Details
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