Stockholders' Equity

6 Months Ended

Oct. 31, 2021

Stockholders’ Equity

The 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 280,000 shares of its common stock for $13.1 million during the six months ended October 31, 2021. The Company repurchased approximately 50,000 shares of its common stock for $1.2 million during the six months ended October 31, 2020. As of October 31, 2021, the Company had $41.2 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 six months ended October 31, 2021:


	Foreign Currency Translation		Derivative Financial Instruments		Accumulated Other Comprehensive Income
	(in thousands)
Balance as of April 30, 2021	$	20,764	$	(16,005)	$	4,759
Other comprehensive (loss) income before reclassification	(4,119)		738		(3,381)
Reclassification to earnings from accumulated other comprehensive income	—		4,513		4,513
Balance as of October 31, 2021	$	16,645	$	(10,754)	$	5,891

Other comprehensive income on derivative instruments for the six months ended October 31, 2021 is net of $0.2 million of tax. Reclassification to earnings from accumulated other comprehensive income is net of $1.5 million of tax.