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Common Stock
12 Months Ended
Apr. 30, 2017
Common Stock [Abstract]  
COMMON STOCK
COMMON STOCK
The following table shows the change in outstanding common shares during each of the last three years:
(Shares in thousands)
Class A
 
Class B
 
Total
Balance at April 30, 2014
168,924

 
257,986

 
426,910

Acquisition of treasury stock
(171
)
 
(10,069
)
 
(10,240
)
Stock issued under compensation plans
173

 
557

 
730

Balance at April 30, 2015
168,926

 
248,474

 
417,400

Acquisition of treasury stock
(114
)
 
(22,714
)
 
(22,828
)
Stock issued under compensation plans
248

 
664

 
912

Balance at April 30, 2016
169,060

 
226,424

 
395,484

Acquisition of treasury stock
(77
)
 
(11,799
)
 
(11,876
)
Stock issued under compensation plans
68

 
410

 
478

Balance at April 30, 2017
169,051

 
215,035

 
384,086


Stock split. On May 26, 2016, our Board of Directors approved a two-for-one stock split for our Class A and Class B common stock, subject to stockholder approval of an amendment to our Restated Certificate of Incorporation. The amendment, which was approved by stockholders on July 28, 2016, increased the number of authorized shares of Class A common stock from 85,000,000 to 170,000,000. The amendment did not change the number of authorized Class B common shares, which remains at 400,000,000.
The stock split, which was effected as a stock dividend, resulted in the issuance of one new share of Class A common stock for each share of Class A common stock outstanding and one new share of Class B common stock for each share of Class B common stock outstanding. The stock split was also applied to our treasury shares. Thus, the stock split increased the number of Class A shares issued from 85,000,000 to 170,000,000, and increased the number of Class B shares issued from 142,313,000 to 284,626,000. The new shares were distributed on August 18, 2016, to shareholders of record as of August 8, 2016.
As a result of the stock split, we reclassified approximately $34 from additional paid-in capital to common stock during fiscal 2017. The $34 represents the $0.15 par value per share of the new shares issued in the stock split.
All share and per share amounts reported in these financial statements and related notes are presented on a split-adjusted basis.