Income Taxes (Tables)

12 Months Ended

Apr. 30, 2023

Income Tax Disclosure [Abstract]

Domestic and Foreign Components of Income (Loss) from Continuing Operations before Domestic and Foreign Income and Other Taxes

Income from continuing operations before provision for income taxes was as follows:

	Year Ended April 30,
	2023		2022		2021
	(in thousands)
Domestic	$	136,269	$	184,877	$	34,661
Foreign	159,468		248,024		129,039
Income before provision for income taxes	$	295,737	$	432,901	$	163,700

Provision (Benefit) for Domestic and Foreign Income Taxes

The provision for domestic and foreign income taxes was as follows:

	Year Ended April 30,
	2023		2022		2021
	(in thousands)
Current income taxes:
Federal	$	39,188	$	43,993	$	16,913
State	15,879		15,962		4,719
Foreign	42,019		59,064		40,646
Current provision for income taxes	97,086		119,019		62,278
Deferred income taxes:
Federal	(13,228)		(13,858)		(5,809)
State	(5,723)		(3,936)		(5,025)
Foreign	4,548		831		(3,306)
Deferred benefit for income taxes	(14,403)		(16,963)		(14,140)
Total provision for income taxes	$	82,683	$	102,056	$	48,138

Reconciliation of Statutory Federal Income Tax Rate to Effective Consolidated Tax Rate

The reconciliation of the statutory federal income tax rate to the effective consolidated tax rate is as follows:

	Year Ended April 30,
	2023		2022		2021
U.S. federal statutory income tax rate	21.0	%	21.0	%	21.0	%
State tax, net of federal effect	2.8		2.5		1.0
Foreign tax rates differential	4.0		2.5		4.5
Non-deductible officer's compensation	1.0		0.7		2.3
Excess tax (benefit) expense on stock-based compensation	(0.9)		(0.6)		0.8
Change in valuation allowance	0.3		(0.7)		0.3
COLI increase, net	(0.8)		(0.3)		(1.7)
Change in uncertain tax positions	0.1		0.3		1.1
R&D tax credit	(0.6)		(1.3)		(0.9)
Other	1.1		(0.5)		1.0
Effective income tax rate	28.0	%	23.6	%	29.4	%

Components of Deferred Tax Assets and Liabilities

Components of deferred tax assets and liabilities were as follows:

	April 30,
	2023		2022
	(in thousands)
Deferred tax assets:
Deferred compensation	$	120,361	$	111,133
Operating lease liability	26,952		35,158
Loss carryforwards	28,707		33,360
Reserves and accruals	21,140		20,887
Allowance for doubtful accounts	7,272		5,645
Deferred revenue	6,436		6,207
Gross deferred tax assets	210,868		212,390
Deferred tax liabilities:
Operating lease, right-of-use, assets	(22,056)		(27,513)
Intangibles and goodwill	(26,310)		(28,388)
Property and equipment	(15,953)		(24,063)
Prepaid expenses	(20,037)		(24,453)
Other	(4,581)		(1,951)
Gross deferred tax liabilities	(88,937)		(106,368)
Valuation allowances	(25,226)		(24,025)
Net deferred tax asset	$	96,705	$	81,997

Changes in Unrecognized Tax Benefits

A reconciliation of the beginning and ending balances of the unrecognized tax benefits is as follows:

	Year Ended April 30,
	2023		2022		2021
	(in thousands)
Unrecognized tax benefits, beginning of year	$	10,682	$	9,954	$	6,037
Additions based on tax positions related to the current year	1,257		456		1,716
Additions based on tax positions related to prior years	28		272		2,201
Settlement with tax authority	(545)		—		—
Lapse of applicable statute of limitations	(856)		—		—
Unrecognized tax benefits, end of year	$	10,566	$	10,682	$	9,954