Stockholders' Equity

3 Months Ended

Jul. 31, 2021

Stockholders’ EquityThe Company's Board of Directors has authorized a common stock repurchase program to repurchase up to $75.0 million of outstanding common stock. The Company may conduct repurchases under the share repurchase program through open market transactions, under trading plans in accordance with SEC Rule 10b5-1 and/or in privately negotiated transactions, in compliance with Rule 10b-18 under the Exchange Act of 1934, as amended. These repurchases are subject to a variety of factors, including, but not limited to, our liquidity, credit availability, general business and market conditions, our debt covenant

restrictions and the availability of alternative investment opportunities. The share repurchase program does not obligate the Company to acquire any particular amount of common stock, and it may be suspended or terminated at any time at the Company’s discretion.

The Company repurchased approximately 85,000 shares of its common stock for $3.9 million during the three months ended July 31, 2021. The Company did not repurchase any shares of its common stock during the three months ended July 31, 2020. As of July 31, 2021, the Company had $50.5 million of remaining repurchase authorization under the stock repurchase program.

Accumulated Other Comprehensive Income

The following table sets forth the changes to accumulated other comprehensive income (loss), net of tax, by component for the three months ended July 31, 2021:


	Foreign Currency Translation		Derivative Financial Instruments		Accumulated Other Comprehensive Income (Loss)
	(in thousands)
Balance as of April 30, 2021	$	20,764	$	(16,005)	$	4,759
Other comprehensive loss before reclassification	(8,233)		(287)		(8,520)
Reclassification to earnings from accumulated other comprehensive income (loss)	—		2,249		2,249
Balance as of July 31, 2021	$	12,531	$	(14,043)	$	(1,512)

Other comprehensive loss on derivative instruments for the three months ended July 31, 2021 is net of $0.1 million of tax and reclassification to earnings from accumulated other comprehensive income (loss) is net of $0.7 million of tax.