Income Taxes (Tables)

12 Months Ended

Apr. 30, 2024

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,
	2024		2023		2022
	(in thousands)
Domestic	$	70,716	$	136,269	$	184,877
Foreign	151,926		159,468		248,024
Income before provision for income taxes	$	222,642	$	295,737	$	432,901

Provision (Benefit) for Domestic and Foreign Income Taxes

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

	Year Ended April 30,
	2024		2023		2022
	(in thousands)
Current income taxes:
Federal	$	31,466	$	39,188	$	43,993
State	10,071		15,879		15,962
Foreign	40,853		42,019		59,064
Current provision for income taxes	82,390		97,086		119,019
Deferred income taxes:
Federal	(15,693)		(13,228)		(13,858)
State	(2,904)		(5,723)		(3,936)
Foreign	(13,712)		4,548		831
Deferred benefit for income taxes	(32,309)		(14,403)		(16,963)
Total provision for income taxes	$	50,081	$	82,683	$	102,056

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,
	2024		2023		2022
U.S. federal statutory income tax rate	21.0	%	21.0	%	21.0	%
State tax, net of federal effect	2.8		2.8		2.5
Foreign tax rates differential	4.0		4.0		2.5
Non-deductible officer's compensation	1.9		1.0		0.7
Change in valuation allowance	(5.8)		0.3		(0.7)
Change in uncertain tax positions	1.1		0.1		0.3
Foreign-derived intangible income deduction	(1.2)		(1.0)		(0.7)
Repatriation of earnings of foreign subsidiaries	1.4		1.2		0.4
R&D tax credit	(1.5)		(0.6)		(1.3)
Other	(1.2)		(0.8)		(1.1)
Effective income tax rate	22.5	%	28.0	%	23.6	%

Components of Deferred Tax Assets and Liabilities

Components of deferred tax assets and liabilities were as follows:

	April 30,
	2024		2023
	(in thousands)
Deferred tax assets:
Deferred compensation	$	136,722	$	120,361
Operating lease liability	22,693		26,952
Loss carryforwards	28,542		28,707
Reserves and accruals	20,398		21,140
Allowance for doubtful accounts	7,169		7,272
Deferred revenue	7,086		6,436
Gross deferred tax assets	222,610		210,868
Deferred tax liabilities:
Operating lease, right-of-use, assets	(19,316)		(22,056)
Intangibles and goodwill	(24,697)		(26,310)
Property and equipment	(12,567)		(15,953)
Prepaid expenses	(16,172)		(20,037)
Unrealized gain on marketable securities	(6,164)		(402)
Other	(2,158)		(4,179)
Gross deferred tax liabilities	(81,074)		(88,937)
Valuation allowances	(12,512)		(25,226)
Net deferred tax asset	$	129,024	$	96,705

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,
	2024		2023		2022
	(in thousands)
Unrecognized tax benefits, beginning of year	$	10,566	$	10,682	$	9,954
Additions based on tax positions related to the current year	1,573		1,257		456
Additions based on tax positions related to prior years	2,208		28		272
Settlement with tax authority	—		(545)		—
Lapse of applicable statute of limitations	(324)		(856)		—
Unrecognized tax benefits, end of year	$	14,023	$	10,566	$	10,682