Derivative Instruments	12 Months Ended
Apr. 30, 2019
Derivative Instruments
Derivative Instruments	13. Derivative Instruments Interest Rate Swap In February 2019, the Company entered into interest rate swap agreements with a notional amount of $500.0 million to convert the variable interest rate on its First Lien Term Loan to a fixed 1-month LIBOR interest rate of 2.46%. The contracts were effective on February 28, 2019 and terminate on February 28, 2023. The objective of the interest rate swap agreements is to eliminate the variability of interest payment cash flows associated with variable interest rates. The Company believes there have been no material changes in the creditworthiness of the counterparty to this interest rate swap and believes the risk of nonperformance by such party is minimal. The Company designated the interest rate swaps as a cash flow hedges. The derivative instruments are classified in other liabilities in the Consolidated Balance Sheet as of April 30, 2019. Interest Rate Cap As of April 30, 2018, the Company had an interest rate cap agreement with the objective of minimizing the risks and costs associated with its variable rate debt. The interest rate cap expired on October 31, 2018. This agreement was an interest rate cap on quarterly resetting 3‑month LIBOR, based on a strike rate of 2.0% and payable quarterly. This instrument effectively caped the interest rate at 5.75% on an initial notional amount of $275.0 million of the Company’s variable rate debt obligation under the First Lien Facility, or any replacement facility with similar terms. The Company designated the interest rate cap agreement as a cash flow hedge. This derivative instrument was classified in other assets in the Consolidated Balance Sheet as of April 30, 2018. Foreign Currency Forward Contract In April 2018, in connection with the acquisition of Titan (see Note 3, “Business Acquisitions”), the Company entered into a foreign currency forward contract to mitigate the foreign currency exchange risk associated with the purchase price that was denominated in Canadian dollars. The foreign currency forward contract effectively fixed the amount the Company paid for the purchase price denominated in Canadian dollars by contracting the Company to pay U.S. dollars and receive Canadian dollars on the notional amount. The notional amount of the foreign currency forward contract was $569.2 million as of April 30, 2018. The foreign currency forward contract was not eligible for hedge accounting. This derivative instrument was classified in other accrued expenses and current liabilities in the Consolidated Balance Sheet as of April 30, 2018. During the year ended April 30, 2018, the Company recognized a $5.1 million loss on the change in fair value of a foreign currency forward contract. During the year ended April 30, 2019, the Company recognized a $5.7 million loss on the change in fair value of its foreign currency forward contract, which was settled upon the acquisition on Titan on June 1, 2018. The losses are included within change in fair value of financial instruments in the Consolidated Statements of Operations and Comprehensive Income.

13. Derivative Instruments

Interest Rate Swap

In February 2019, the Company entered into interest rate swap agreements with a notional amount of $500.0 million to convert the variable interest rate on its First Lien Term Loan to a fixed 1-month LIBOR interest rate of 2.46%. The contracts were effective on February 28, 2019 and terminate on February 28, 2023. The objective of the interest rate swap agreements is to eliminate the variability of interest payment cash flows associated with variable interest rates. The Company believes there have been no material changes in the creditworthiness of the counterparty to this interest rate swap and believes the risk of nonperformance by such party is minimal. The Company designated the interest rate swaps as a cash flow hedges. The derivative instruments are classified in other liabilities in the Consolidated Balance Sheet as of April 30, 2019.

Interest Rate Cap

As of April 30, 2018, the Company had an interest rate cap agreement with the objective of minimizing the risks and costs associated with its variable rate debt. The interest rate cap expired on October 31, 2018. This agreement was an interest rate cap on quarterly resetting 3‑month LIBOR, based on a strike rate of 2.0% and payable quarterly. This instrument effectively caped the interest rate at 5.75% on an initial notional amount of $275.0 million of the Company’s variable rate debt obligation under the First Lien Facility, or any replacement facility with similar terms. The Company designated the interest rate cap agreement as a cash flow hedge. This derivative instrument was classified in other assets in the Consolidated Balance Sheet as of April 30, 2018.

Foreign Currency Forward Contract

In April 2018, in connection with the acquisition of Titan (see Note 3, “Business Acquisitions”), the Company entered into a foreign currency forward contract to mitigate the foreign currency exchange risk associated with the purchase price that was denominated in Canadian dollars. The foreign currency forward contract effectively fixed the amount the Company paid for the purchase price denominated in Canadian dollars by contracting the Company to pay U.S. dollars and receive Canadian dollars on the notional amount. The notional amount of the foreign currency forward contract was $569.2 million as of April 30, 2018. The foreign currency forward contract was not eligible for hedge accounting. This derivative instrument was classified in other accrued expenses and current liabilities in the Consolidated Balance Sheet as of April 30, 2018.

During the year ended April 30, 2018, the Company recognized a $5.1 million loss on the change in fair value of a foreign currency forward contract. During the year ended April 30, 2019, the Company recognized a $5.7 million loss on the change in fair value of its foreign currency forward contract, which was settled upon the acquisition on Titan on June 1, 2018. The losses are included within change in fair value of financial instruments in the Consolidated Statements of Operations and Comprehensive Income.