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Note 6 - Comprehensive Income | 6 Months Ended
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Oct. 31, 2019
Notes to Financial Statements |
Comprehensive Income (Loss) Note [Text Block] |
Note 6 - 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 October 31, 2019 and October 31, 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 Condensed 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 Condensed Balance Sheets.
The components of comprehensive income included in the Consolidated Condensed Statements of Income and Changes in Shareholders' Equity for the six months ended October 31, 2019 are as follows:
($ in thousands) |  | Amount Before Tax |  |  | Tax Expense |  |  | Amount Net of Tax |
Change in unrealized gains on securities |  | $ | 457 |  |  | $ | (95 | ) |  | $ | 362 |
|  | $ | 457 |  |  | $ | (95 | ) |  | $ | 362 |
The components of comprehensive income included in the Consolidated Condensed Statements of Income and Changes in Shareholders' Equity for the six months ended October 31, 2018 are as follows:
($ in thousands) |  | Amount Before Tax |  |  | Tax Expense |  |  | Amount Net of Tax |
Change in unrealized gains on securities |  | $ | 229 |  |  | $ | (48 | ) |  | $ | 181 |
|  | $ | 229 |  |  | $ | (48 | ) |  | $ | 181 |

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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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