Fair Value of Financial Instruments

12 Months Ended

Apr. 30, 2014

Fair Value of Financial Instruments [Abstract]

FAIR VALUE OF FINANCIAL INSTRUMENTS

FAIR VALUE OF FINANCIAL INSTRUMENTS

The fair values of cash, cash equivalents, and short-term borrowings approximate the carrying amounts due to the short maturities of these instruments. We determine the fair values of currency derivatives and long-term debt as discussed in Note 6.

Below is a comparison of the fair values and carrying amounts of these instruments:

	2013				2014
April 30,	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Assets:
Cash and cash equivalents	$	204	$	204	$	437	$	437
Currency derivatives	5		5		7		7
Liabilities:
Currency derivatives	4		4		7		7
Short-term borrowings	3		3		8		8
Current portion of long-term debt	2		2		—		—
Long-term debt	997		1,011		997		963