Stock Split

3 Months Ended

Jul. 31, 2012

Stock Split [Abstract]

Stock Split

11. Stock Split

On June 14, 2012, our Board of Directors authorized a 3-for-2 stock split for outstanding shares of the Company’s Class A and Class B common stock, subject to stockholder approval of an amendment to the Company’s Restated Certificate of Incorporation to increase the number of authorized shares of Class A and Class B common stock. The amendment, which was approved by stockholders on July 26, 2012, increased the authorized number of Class A Common Stock to 85,000,000 from 57,000,000 and the authorized number of Class B Common Stock to 400,000,000 from 100,000,000.

The stock split, which was effected as a stock dividend, resulted in the Company issuing one new share of Class A common stock for each two shares of Class A common stock outstanding and one new share of Class B common stock for each two shares of Class B common stock outstanding. The stock split was paid on August 10, 2012, to stockholders of record as of August 3, 2012. The stock split was not applied to the Company’s treasury shares.

As a result of the stock split, we reclassified approximately $10.7 million from the Company’s retained earnings account to its common stock accounts during the period ended July 31, 2012. The $10.7 million represents the $0.15 par value per share of the shares issued in the stock split.

The following table shows the change in the Company’s outstanding shares during the periods covered by this report:

	Three Months Ended
	July 31
(Shares in thousands)	2011			2012
Class A (voting) Common Shares:
Balance at beginning of period		56,561			56,251
Acquisition of treasury stock		(64	)		—
Stock issued under compensation plans		—			46
Stock split (3-for-2)		—			28,149
Balance at end of period		56,497			84,446
Class B (nonvoting) Common Shares:
Balance at beginning of period		88,429			85,823
Acquisition of treasury stock		(193	)		—
Stock issued under compensation plans		54			80
Stock split (3-for-2)		—			42,951
Balance at end of period		88,290			128,854

All previously reported share and per share amounts have been restated in the accompanying financial statements and related notes to reflect the stock split.