Comprehensive Income

9 Months Ended

Jan. 31, 2022

Equity [Abstract]

Comprehensive Income

3. Comprehensive Income

Comprehensive income is comprised of net income 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:

	January 31, 2022			April 30, 2021
	(in thousands)
Foreign currency translation adjustments	$	(64,283	)	$	(33,666	)
Deferred compensation and pension plan adjustments, net of tax		(16,284	)		(18,135	)
Marketable securities unrealized loss, net of tax		(151	)		(19	)
Accumulated other comprehensive loss, net	$	(80,718	)	$	(51,820	)

The following table summarizes the changes in each component of accumulated other comprehensive loss, net for the three months ended January 31, 2022:

	Foreign Currency Translation			Deferred Compensation and Pension Plan (1)			Unrealized Losses on Marketable Securities			Accumulated Other Comprehensive Loss
	(in thousands)
Balance as of October 31, 2021	$	(49,051	)	$	(17,443	)	$	(36	)	$	(66,530	)
Unrealized (losses) gains arising during the period		(15,232	)		824			(115	)		(14,523	)
Reclassification of realized net losses to net income		—			335			—			335
Balance as of January 31, 2022	$	(64,283	)	$	(16,284	)	$	(151	)	$	(80,718	)

The following table summarizes the changes in each component of accumulated other comprehensive loss, net for the nine months ended January 31, 2022:

	Foreign Currency Translation			Deferred Compensation and Pension Plan (1)			Unrealized Losses on Marketable Securities			Accumulated Other Comprehensive Loss
	(in thousands)
Balance as of April 30, 2021	$	(33,666	)	$	(18,135	)	$	(19	)	$	(51,820	)
Unrealized (losses) gains arising during the period		(30,617	)		839			(133	)		(29,911	)
Reclassification of realized net losses to net income		—			1,012			1			1,013
Balance as of January 31, 2022	$	(64,283	)	$	(16,284	)	$	(151	)	$	(80,718	)

(1) The tax effect on unrealized (losses) gains were $0.3 million for the three and nine months ended January 31, 2022. The tax effect on the reclassifications of realized net losses was $0.1 million and $0.3 million for the three and nine months ended January 31, 2022.

The following table summarizes the changes in each component of accumulated other comprehensive loss, net for the three months ended January 31, 2021:

	Foreign Currency Translation			Deferred Compensation and Pension Plan (1)			Unrealized Losses on Marketable Securities			Accumulated Other Comprehensive Loss
	(in thousands)
Balance as of October 31, 2020	$	(61,426	)	$	(22,229	)	$	—		$	(83,655	)
Unrealized gains (losses) arising during the period		25,083			—			(5	)		25,078
Reclassification of realized net losses to net income		—			663			—			663
Balance as of January 31, 2021	$	(36,343	)	$	(21,566	)	$	(5	)	$	(57,914	)

The following table summarizes the changes in each component of accumulated other comprehensive loss, net for the nine months ended January 31, 2021:

	Foreign Currency Translation			Deferred Compensation and Pension Plan (1)			Unrealized Gains (Losses) 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		47,309			—			(39	)		47,270
Reclassification of realized net losses to net income		—			1,988			—			1,988
Balance as of January 31, 2021	$	(36,343	)	$	(21,566	)	$	(5	)	$	(57,914	)

(1) The tax effect on the reclassifications of realized net losses was $0.2 million and $0.7 million for the three and nine months ended January 31, 2021.