Stock Split

9 Months Ended

Jan. 31, 2013

Equity [Abstract]

Stock Split

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 common shares shares during the nine months endedJanuary 31, 2013:

(Shares in thousands)	Class A (voting)	Class B (nonvoting)
Balance at April 30, 2012	56,251	85,823
Stock split (3-for-2)	28,149	42,951
Stock issued under compensation plans	46	391
Balance at January 31, 2013	84,446	129,165

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