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Income Taxes
3 Months Ended
Jul. 31, 2017
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes
Our consolidated interim effective tax rate is based upon our expected annual operating income, statutory tax rates, and income tax laws in the various jurisdictions in which we operate. Significant or unusual items, including adjustments to accruals for tax uncertainties, are recognized in the quarter in which the related event occurs. The effective tax rate of 22.1% for the three months ended July 31, 2017, is lower than the expected tax rate of 29.0% on ordinary income for the full fiscal year, primarily due to (a) a reduction in U.S. tax for certain prior years on foreign exchange gains in non-U.S. entities due to a change in method of accounting for U.S. tax purposes, and (b) the excess tax benefits related to stock-based compensation. Our expected tax rate includes current fiscal year additions for existing tax contingency items.