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Fair Value of Financial Instruments
 12 Months Ended
Apr. 30, 2011
Fair Value of Financial Instruments [Abstract]  
FAIR VALUE OF FINANCIAL INSTRUMENTS
9. FAIR VALUE OF FINANCIAL INSTRUMENTS
The fair value of cash, cash equivalents, and short-term borrowings approximates the carrying amount due to the short maturities of these instruments. We estimate the fair value of long-term debt based on the prices at which similar debt has recently traded in the market and considering the overall market conditions on the date of valuation. We determine the fair value of derivative financial instruments as discussed in Note 8. Here is a comparison of the fair values and carrying amounts of these instruments:
                                 
April 30,   2010     2011  
    Carrying     Fair     Carrying     Fair  
    Amount     Value     Amount     Value  
Assets:
                               
Cash and cash equivalents
  $ 232     $ 232     $ 567     $ 567  
Commodity derivatives
    —       —       5       5  
Currency derivatives
    6       6       —       —  
Interest rate swaps
    —       —       3       3  
 
                               
Liabilities:
                               
Currency derivatives
    6       6       25       25  
Short-term borrowings
    188       188       —       —  
Current portion of long-term debt
    3       3       255       265  
Long-term debt
    508       547       504       531