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Fair Value of Financial Instruments | 3 Months Ended
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Jul. 31, 2023
Fair Value Disclosures [Abstract] |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The Company's financial instruments consist primarily of cash and equivalents, mutual funds, short-term borrowings, and the cash surrender value of life insurance policies. The carrying value of these assets and liabilities approximates their fair value. The following tables summarize the Company's fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis as of July 31, 2023 and April 30, 2023 (in thousands):
|  | July 31, 2023
Financial Assets |  | Level 1 |  | Level 2 |  | Total
Trading securities held in non-qualified compensation plans (1) |  | $ | 1,324 |  |  | $ | — |  |  | $ | 1,324 |
Cash surrender value of life insurance policies (1) |  | — |  |  | 1,401 |  |  | 1,401 |
Total |  | $ | 1,324 |  |  | $ | 1,401 |  |  | $ | 2,725 |
Financial Liabilities |  |  |  |  |  |
Non-qualified compensation plans (2) |  | $ | — |  |  | $ | 3,185 |  |  | $ | 3,185 |
Total |  | $ | — |  |  | $ | 3,185 |  |  | $ | 3,185 |
|  | April 30, 2023
Financial Assets |  | Level 1 |  | Level 2 |  | Total
Trading securities held in non-qualified compensation plans (1) |  | $ | 1,105 |  |  | $ | — |  |  | $ | 1,105 |
Cash surrender value of life insurance policies (1) |  | — |  |  | 1,358 |  |  | 1,358 |
Total |  | $ | 1,105 |  |  | $ | 1,358 |  |  | $ | 2,463 |
Financial Liabilities |  |  |  |  |  |
Non-qualified compensation plans (2) |  | $ | — |  |  | $ | 2,910 |  |  | $ | 2,910 |
Total |  | $ | — |  |  | $ | 2,910 |  |  | $ | 2,910 |
(1)The Company maintains two non-qualified compensation plans which include investment assets in a rabbi trust. These assets consist of marketable securities, which are valued using quoted market prices multiplied by the number of shares owned, and life insurance policies, which are valued at their cash surrender value. (2)Plan liabilities are equal to the individual participants' account balances and other earned retirement benefits.

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- References No definition available. + Details
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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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