Financial Instruments (Tables)

3 Months Ended

Jul. 31, 2025

Investments, All Other Investments [Abstract]

Schedule of Financial Instruments and Balance Sheet Classification

The following tables show the Company’s financial instruments and balance sheet classification as of July 31, 2025 and April 30, 2025:

	July 31, 2025
	Fair Value Measurement								Balance Sheet Classification
	Cost		Unrealized Gains		Unrealized Losses		Fair Value		Cash and Cash Equivalents		Marketable Securities, Current		Marketable Securities, Non- current		Other Accrued Liabilities
	(in thousands)
Changes in Fair Value Recorded in
Other Comprehensive Loss
Level 2:
Commercial paper	$	4,630	$	—	$	(3)	$	4,627	$	599	$	4,028	$	—	$	—
Corporate notes/bonds	32,358		34		(31)		32,361		—		19,091		13,270		—
U.S. Treasury and Agency Securities	4,102		1		(4)		4,099		—		—		4,099		—
Total debt investments	$	41,090	$	35	$	(38)	$	41,087	$	599	$	23,119	$	17,369	$	—
Changes in Fair Value Recorded in
Net Income
Level 1:
Mutual funds (1)							$	237,951	$	—	$	13,158	$	224,793	$	—
Total equity investments							$	237,951	$	—	$	13,158	$	224,793	$	—
Cash							$	520,062	$	520,062	$	—	$	—	$	—
Money market funds							164,194		164,194		—		—		—
Level 2:
Foreign currency forward contracts							(881)		—		—		—		(881)
Total							$	962,413	$	684,855	$	36,277	$	242,162	$	(881)

	April 30, 2025
	Fair Value Measurement								Balance Sheet Classification
	Cost		Unrealized Gains		Unrealized Losses		Fair Value		Cash and Cash Equivalents		Marketable Securities, Current		Marketable Securities, Non-current		Income Taxes & Other Receivables
	(in thousands)
Changes in Fair Value Recorded in
Other Comprehensive Income
Level 2:
Commercial paper	$	3,842	$	—	$	(1)	$	3,841	$	500	$	3,341	$	—	$	—
Corporate notes/bonds	32,747		83		(10)		32,820		—		18,709		14,111		—
U.S. Treasury and Agency Securities	3,497		4		—		3,501		—		1,995		1,506		—
Total debt investments	$	40,086	$	87	$	(11)	$	40,162	$	500	$	24,045	$	15,617	$	—
Changes in Fair Value Recorded in
Net Income
Level 1:
Mutual funds (1)							$	230,352	$	—	$	12,343	$	218,009	$	—
Total equity investments							$	230,352	$	—	$	12,343	$	218,009	$	—
Cash							$	704,091	$	704,091	$	—	$	—	$	—
Money market funds							302,373		302,373		—		—		—
Level 2:
Foreign currency forward contracts							891		—		—		—		891
Total							$	1,277,869	$	1,006,964	$	36,388	$	233,626	$	891

___________________

(1) These investments are held in trust for settlement of the Company’s vested obligations of $223.8 million and $205.3 million as of July 31, 2025 and April 30, 2025, respectively, under the ECAP (see Note 6 — Deferred Compensation and Retirement Plans). Unvested obligations under the deferred compensation plans totaled $14.2 million and $19.5 million as of July 31, 2025 and April 30, 2025, respectively. During the three months ended July 31, 2025 and 2024, the fair value of the investments increased; therefore, the Company recognized a gain of $12.3 million and $14.2 million, respectively, which was recorded in other income, net.

Schedule of Financial Instruments and Balance Sheet Classification

The following tables show the Company’s financial instruments and balance sheet classification as of July 31, 2025 and April 30, 2025:

	July 31, 2025
	Fair Value Measurement								Balance Sheet Classification
	Cost		Unrealized Gains		Unrealized Losses		Fair Value		Cash and Cash Equivalents		Marketable Securities, Current		Marketable Securities, Non- current		Other Accrued Liabilities
	(in thousands)
Changes in Fair Value Recorded in
Other Comprehensive Loss
Level 2:
Commercial paper	$	4,630	$	—	$	(3)	$	4,627	$	599	$	4,028	$	—	$	—
Corporate notes/bonds	32,358		34		(31)		32,361		—		19,091		13,270		—
U.S. Treasury and Agency Securities	4,102		1		(4)		4,099		—		—		4,099		—
Total debt investments	$	41,090	$	35	$	(38)	$	41,087	$	599	$	23,119	$	17,369	$	—
Changes in Fair Value Recorded in
Net Income
Level 1:
Mutual funds (1)							$	237,951	$	—	$	13,158	$	224,793	$	—
Total equity investments							$	237,951	$	—	$	13,158	$	224,793	$	—
Cash							$	520,062	$	520,062	$	—	$	—	$	—
Money market funds							164,194		164,194		—		—		—
Level 2:
Foreign currency forward contracts							(881)		—		—		—		(881)
Total							$	962,413	$	684,855	$	36,277	$	242,162	$	(881)

	April 30, 2025
	Fair Value Measurement								Balance Sheet Classification
	Cost		Unrealized Gains		Unrealized Losses		Fair Value		Cash and Cash Equivalents		Marketable Securities, Current		Marketable Securities, Non-current		Income Taxes & Other Receivables
	(in thousands)
Changes in Fair Value Recorded in
Other Comprehensive Income
Level 2:
Commercial paper	$	3,842	$	—	$	(1)	$	3,841	$	500	$	3,341	$	—	$	—
Corporate notes/bonds	32,747		83		(10)		32,820		—		18,709		14,111		—
U.S. Treasury and Agency Securities	3,497		4		—		3,501		—		1,995		1,506		—
Total debt investments	$	40,086	$	87	$	(11)	$	40,162	$	500	$	24,045	$	15,617	$	—
Changes in Fair Value Recorded in
Net Income
Level 1:
Mutual funds (1)							$	230,352	$	—	$	12,343	$	218,009	$	—
Total equity investments							$	230,352	$	—	$	12,343	$	218,009	$	—
Cash							$	704,091	$	704,091	$	—	$	—	$	—
Money market funds							302,373		302,373		—		—		—
Level 2:
Foreign currency forward contracts							891		—		—		—		891
Total							$	1,277,869	$	1,006,964	$	36,388	$	233,626	$	891

___________________

(1) These investments are held in trust for settlement of the Company’s vested obligations of $223.8 million and $205.3 million as of July 31, 2025 and April 30, 2025, respectively, under the ECAP (see Note 6 — Deferred Compensation and Retirement Plans). Unvested obligations under the deferred compensation plans totaled $14.2 million and $19.5 million as of July 31, 2025 and April 30, 2025, respectively. During the three months ended July 31, 2025 and 2024, the fair value of the investments increased; therefore, the Company recognized a gain of $12.3 million and $14.2 million, respectively, which was recorded in other income, net.

Schedule of Fair Value of Assets Derivatives

The fair value of derivatives not designated as hedge instruments are as follows:

	July 31, 2025		April 30, 2025
	(in thousands)
Derivative assets:
Foreign currency forward contracts	$	554	$	2,486
Derivative liabilities:
Foreign currency forward contracts	$	1,435	$	1,595

Schedule of Fair Value of Liabilities Derivatives

The fair value of derivatives not designated as hedge instruments are as follows:

	July 31, 2025		April 30, 2025
	(in thousands)
Derivative assets:
Foreign currency forward contracts	$	554	$	2,486
Derivative liabilities:
Foreign currency forward contracts	$	1,435	$	1,595