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Financial Instruments (Tables)
 3 Months Ended
Jul. 31, 2024
Investments, All Other Investments [Abstract]  
Financial Instruments and Balance Sheet Classification
The following tables show the Company’s financial instruments and balance sheet classification as of July 31, 2024 and April 30, 2024:
July 31, 2024
Fair Value MeasurementBalance Sheet Classification
CostUnrealized
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$12,163 $— $(9)$12,154 $— $12,154 $— $— 
Corporate notes/bonds20,173 52 (7)20,218 — 10,600 9,618 — 
U.S. Treasury and Agency Securities6,867 2 (3)6,866 — 5,370 1,496 — 
Total debt investments$39,203 $54 $(19)$39,238 $— $28,124 $11,114 $— 
Changes in Fair Value Recorded in
Net Income
Level 1:
Mutual funds (1)
$232,583 $— $12,502 $220,081 $— 
Total equity investments$232,583 $— $12,502 $220,081 $— 
Cash$540,650 $540,650 $— $— $— 
Money market funds92,726 92,726 — — — 
Level 2:
Foreign currency forward contracts408 — — — 408 
Total$905,605 $633,376 $40,626 $231,195 $408 
April 30, 2024
Fair Value Measurement Balance Sheet Classification
CostUnrealized
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$16,873 $1 $(19)$16,855 $3,932 $12,923 $— $— 
Corporate notes/bonds17,322 3 (27)17,298 — 10,050 7,248 — 
U.S. Treasury and Agency Securities4,355 — (9)4,346 — 2,441 1,905 — 
Total debt investments$38,550 $4 $(55)$38,499 $3,932 $25,414 $9,153 $— 
Changes in Fair Value Recorded in
Net Income
Level 1:
Mutual funds (1)
$219,856 $— $17,328 $202,528 $— 
Total equity investments$219,856 $— $17,328 $202,528 $— 
Cash$790,938 $790,938 $— $— $— 
Money market funds146,135 146,135 — — — 
Level 2:
Foreign currency forward contracts(427)— — — (427)
Total$1,195,001 $941,005 $42,742 $211,681 $(427)
___________________
(1)
These investments are held in trust for settlement of the Company’s vested obligations of $214.5 million and $198.6 million as of July 31, 2024 and April 30, 2024, respectively, under the ECAP (see Note 6 — Deferred Compensation and Retirement Plans). Unvested obligations under the deferred compensation plans totaled $16.7 million and $22.4 million as of July 31, 2024 and April 30, 2024, respectively. During the three months ended July 31, 2024 and 2023, the fair value of the investments increased; therefore, the Company recognized a gain of $14.2 million and $12.8 million, respectively, which was recorded in other income, net.
Financial Instruments and Balance Sheet Classification
The following tables show the Company’s financial instruments and balance sheet classification as of July 31, 2024 and April 30, 2024:
July 31, 2024
Fair Value MeasurementBalance Sheet Classification
CostUnrealized
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$12,163 $— $(9)$12,154 $— $12,154 $— $— 
Corporate notes/bonds20,173 52 (7)20,218 — 10,600 9,618 — 
U.S. Treasury and Agency Securities6,867 2 (3)6,866 — 5,370 1,496 — 
Total debt investments$39,203 $54 $(19)$39,238 $— $28,124 $11,114 $— 
Changes in Fair Value Recorded in
Net Income
Level 1:
Mutual funds (1)
$232,583 $— $12,502 $220,081 $— 
Total equity investments$232,583 $— $12,502 $220,081 $— 
Cash$540,650 $540,650 $— $— $— 
Money market funds92,726 92,726 — — — 
Level 2:
Foreign currency forward contracts408 — — — 408 
Total$905,605 $633,376 $40,626 $231,195 $408 
April 30, 2024
Fair Value Measurement Balance Sheet Classification
CostUnrealized
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$16,873 $1 $(19)$16,855 $3,932 $12,923 $— $— 
Corporate notes/bonds17,322 3 (27)17,298 — 10,050 7,248 — 
U.S. Treasury and Agency Securities4,355 — (9)4,346 — 2,441 1,905 — 
Total debt investments$38,550 $4 $(55)$38,499 $3,932 $25,414 $9,153 $— 
Changes in Fair Value Recorded in
Net Income
Level 1:
Mutual funds (1)
$219,856 $— $17,328 $202,528 $— 
Total equity investments$219,856 $— $17,328 $202,528 $— 
Cash$790,938 $790,938 $— $— $— 
Money market funds146,135 146,135 — — — 
Level 2:
Foreign currency forward contracts(427)— — — (427)
Total$1,195,001 $941,005 $42,742 $211,681 $(427)
___________________
(1)
These investments are held in trust for settlement of the Company’s vested obligations of $214.5 million and $198.6 million as of July 31, 2024 and April 30, 2024, respectively, under the ECAP (see Note 6 — Deferred Compensation and Retirement Plans). Unvested obligations under the deferred compensation plans totaled $16.7 million and $22.4 million as of July 31, 2024 and April 30, 2024, respectively. During the three months ended July 31, 2024 and 2023, the fair value of the investments increased; therefore, the Company recognized a gain of $14.2 million and $12.8 million, respectively, which was recorded in other income, net.
Fair Value of Assets Derivatives
The fair value of derivatives not designated as hedge instruments are as follows:
July 31,
2024		April 30,
2024
(in thousands)
Derivative assets:
Foreign currency forward contracts$745 $979 
Derivative liabilities:  
Foreign currency forward contracts$337 $1,406 
Fair Value of Liabilities Derivatives
The fair value of derivatives not designated as hedge instruments are as follows:
July 31,
2024		April 30,
2024
(in thousands)
Derivative assets:
Foreign currency forward contracts$745 $979 
Derivative liabilities:  
Foreign currency forward contracts$337 $1,406