Comprehensive Income

6 Months Ended

Oct. 31, 2020

Equity [Abstract]

Comprehensive Income

3. Comprehensive Income

Comprehensive income is comprised of net income (loss) and all changes to stockholders’ equity, except those changes resulting from investments by stockholders (changes in paid in capital) and distributions to stockholders (dividends) and is reported in the accompanying consolidated statements of comprehensive income. Accumulated other comprehensive loss, net of taxes, is recorded as a component of stockholders’ equity.

The components of accumulated other comprehensive loss, net were as follows:

	October 31, 2020			April 30, 2020
	(in thousands)
Foreign currency translation adjustments	$	(61,426	)	$	(83,652	)
Deferred compensation and pension plan adjustments, net of tax		(22,229	)		(23,554	)
Marketable securities unrealized gain, net of tax		—			34
Accumulated other comprehensive loss, net	$	(83,655	)	$	(107,172	)

The following table summarizes the changes in each component of accumulated other comprehensive loss, net for the three months ended October 31, 2020:

	Foreign Currency Translation			Deferred Compensation and Pension Plan (1)			Unrealized Gains on Marketable Securities			Accumulated Other Comprehensive Loss
	(in thousands)
Balance as of July 31, 2020	$	(58,705	)	$	(22,912	)	$	25		$	(81,592	)
Unrealized losses arising during the period		(2,721	)		—			(25	)		(2,746	)
Reclassification of realized net losses to net income		—			683			—			683
Balance as of October 31, 2020	$	(61,426	)	$	(22,229	)	$	—		$	(83,655	)

The following table summarizes the changes in each component of accumulated other comprehensive loss, net for the six months ended October 31, 2020:

	Foreign Currency Translation			Deferred Compensation and Pension Plan (1)			Unrealized Gains on Marketable Securities			Accumulated Other Comprehensive Loss
	(in thousands)
Balance as of April 30, 2020	$	(83,652	)	$	(23,554	)	$	34		$	(107,172	)
Unrealized gains (losses) arising during the period		22,226			—			(34	)		22,192
Reclassification of realized net losses to net income		—			1,325			—			1,325
Balance as of October 31, 2020	$	(61,426	)	$	(22,229	)	$	—		$	(83,655	)

(1) The tax effect on the reclassifications of realized net losses was $0.2 million and $0.5 million for the three and six months ended October 31, 2020, respectively.

The following table summarizes the changes in each component of accumulated other comprehensive loss, net for the three months ended October 31, 2019:

	Foreign Currency Translation			Deferred Compensation and Pension Plan (1)			Unrealized Losses on Interest Rate Swap (2)			Accumulated Other Comprehensive Loss
	(in thousands)
Balance as of July 31, 2019	$	(65,632	)	$	(16,343	)	$	(139	)	$	(82,114	)
Unrealized gains (losses) arising during the period		1,329			—			(315	)		1,014
Reclassification of realized net losses (gains) to net income		—			495			(41	)		454
Balance as of October 31, 2019	$	(64,303	)	$	(15,848	)	$	(495	)	$	(80,646	)

The following table summarizes the changes in each component of accumulated other comprehensive loss, net for the six months ended October 31, 2019:

	Foreign Currency Translation			Deferred Compensation and Pension Plan (1)			Unrealized (Losses) Gains on Interest Rate Swap (2)			Accumulated Other Comprehensive Loss
	(in thousands)
Balance as of April 30, 2019	$	(60,270	)	$	(16,838	)	$	456		$	(76,652	)
Unrealized losses arising during the period		(4,033	)		—			(806	)		(4,839	)
Reclassification of realized net losses (gains) to net income		—			990			(145	)		845
Balance as of October 31, 2019	$	(64,303	)	$	(15,848	)	$	(495	)	$	(80,646	)

(1) The tax effect on the reclassifications of realized net losses was $0.2 million and $0.3 million for the three and six months ended October 31, 2019, respectively.

(2) The tax effect on unrealized losses was $0.1 million and $0.3 million for the three and six months ended October 31, 2019, respectively.