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Deferred Compensation and Retirement Plans (Tables)
 12 Months Ended
Apr. 30, 2025
Retirement Benefits [Abstract]  
Schedule of Total Benefit Obligations
The total benefit obligations for these plans were as follows:
Year Ended April 30,
20252024
(in thousands)
Deferred compensation and pension plans$298,316 $262,403 
Medical and Life Insurance plan4,188 4,227 
International retirement plans13,278 12,606 
Executive Capital Accumulation Plan210,606 204,537 
Total benefit obligation526,388 483,773 
Less: current portion of benefit obligation (1)
(48,618)(43,377)
Non-current benefit obligation$477,770 $440,396 
_______________________________
(1)Current portion of benefit obligation is included in Compensation and benefits payable in the consolidated balance sheet.
Schedule of Reconciliation of Benefit Obligation
The following tables reconcile the benefit obligation for the deferred compensation and pension plans:
Year Ended April 30,
20252024
(in thousands)
Change in benefit obligation:
Benefit obligation, beginning of year$280,926 $246,340 
Service cost46,147 43,879 
Interest cost17,772 13,447 
Actuarial loss (gain)
1,482 (5,001)
Administrative expenses paid(234)(240)
Benefits paid from plan assets(1,900)(1,988)
Benefits paid from cash(27,310)(15,511)
Benefit obligation, end of year316,883 280,926 
Change in fair value of plan assets:
Fair value of plan assets, beginning of year18,523 19,085 
Actual return on plan assets1,547 795 
Benefits paid from plan assets(1,900)(1,988)
Administrative expenses paid(234)(240)
Employer contributions631 871 
Fair value of plan assets, end of year18,567 18,523 
Funded status and balance, end of year (1)
$(298,316)$(262,403)
Current liability$36,332 $26,093 
Non-current liability261,984 236,310 
Total liability$298,316 $262,403 
Plan Assets - weighted-average asset allocation:
Debt securities46 %47 %
Equity securities50 %51 %
Other4 %2 %
Total100 %100 %
_______________________________
(1)The Company purchased COLI contracts insuring the lives of certain employees eligible to participate in the deferred compensation and pension plans as a means of funding benefits under such plans. As the COLI contracts are held in trust and are not separated from the Company's general corporate assets, they are not included in the funded status. As of April 30, 2025 and 2024, the Company held contracts with gross CSV of $325.5 million and $295.9 million, offset by outstanding policy loans of $72.8 million and $77.0 million, respectively.
Schedule of Fair Value Measurements of Defined Benefit Plan Assets
The fair value measurements of the defined benefit plan assets fall within the following levels of the fair value hierarchy as of April 30, 2025 and 2024:
Level 1Level 2Level 3Total
(in thousands)
April 30, 2025:
Mutual funds$— $17,832 $— $17,832 
Money market funds735 — — 735 
Total$735 $17,832 $— $18,567 
April 30, 2024:
Mutual funds$— $18,033 $— $18,033 
Money market funds490 — — 490 
Total$490 $18,033 $— $18,523 
Schedule of Components of Net Periodic Benefits Costs
The components of net periodic benefits costs are as follows:
Year Ended April 30,
202520242023
(in thousands)
Service cost$46,147 $43,879 $40,843 
Interest cost17,772 13,447 9,511 
Amortization of actuarial loss248 818 945 
Expected return on plan assets(1,065)(1,088)(1,156)
Net prior service credit amortization(97)(97)(97)
Net periodic benefit cost (1)
$63,005 $56,959 $50,046 
_______________________________
(1)The service cost, interest cost and other components of net periodic benefit costs are included in compensation and benefits expense, interest expense, net and other income, net, respectively, on the consolidated statements of income.
The components of net periodic benefits costs are as follows:
Year Ended April 30,
202520242023
(in thousands)
Service cost$— $— $— 
Interest cost219 217 195 
Net prior service credit amortization
(308)(308)(308)
Amortization of actuarial gain(119)(83)(74)
Net periodic benefit cost (1)
$(208)$(174)$(187)
_______________________________
(1)The service cost, interest cost and the other components of net periodic benefit costs are included in compensation and benefits expense, interest expense, net and other income, net, respectively, on the consolidated statements of income.
Schedule of Weighted-Average Assumptions Used in Calculating Benefit Obligation
The weighted-average assumptions used in calculating the benefit obligations were as follows:
Year Ended April 30,
202520242023
Discount rate, beginning of year5.55 %4.77 %4.08 %
Discount rate, end of year4.74 %5.55 %4.77 %
Rate of compensation increase0.00 %0.00 %0.00 %
Expected long-term rates of return on plan assets6.25 %6.00 %6.00 %
The weighted-average assumptions used in calculating the medical and life insurance plan were as follows:
Year Ended April 30,
202520242023
Discount rate, beginning of year5.62 %4.85 %4.25 %
Discount rate, end of year5.15 %5.62 %4.85 %
Healthcare care cost trend rate6.75 %6.50 %6.50 %
Schedule of Expected Benefit Payments Associated With Future Service
Benefit payments, which reflect expected future service, as appropriate, are expected to be paid over the next ten years as follows:
Year Ending April 30,Deferred Retirement Plans
(in thousands)
2026
$39,116 
2027
47,939 
2028
55,649 
2029
56,294 
2030
62,881 
2031-2035
303,931 
Benefit payments, which reflect expected future service, as appropriate, are expected to be paid over the next ten years as follows:
Year Ending April 30,Medical and Life Insurance
(in thousands)
2026
$565 
2027
481 
2028
451 
2029
428 
2030
405 
2031-2035
1,676 
Schedule of Reconciliation of Benefit Obligation
The following table reconciles the benefit obligation for the medical and life insurance plan:
Year End April 30,
20252024
(in thousands)
Change in benefit obligation:
Benefit obligation, beginning of year$4,227 $4,838 
Interest cost219 217 
Actuarial loss (gain)
214 (321)
Benefits paid(472)(507)
Benefit obligation, end of year$4,188 $4,227 
Current liability$553 $535 
Non-current liability3,635 3,692 
Total liability$4,188 $4,227 
Changes in ECAP liability were as follows:
Year Ended April 30,
20252024
(in thousands)
Balance, beginning of year$204,537 $178,043 
Employee contributions9,212 11,844 
Amortization of employer contributions6,031 7,017 
Gain on investment
16,585 29,492 
Employee distributions(25,513)(21,668)
Exchange rate fluctuations(246)(191)
Balance, end of year210,606 204,537 
Less: current portion(11,733)(16,749)
Non-current portion$198,873 $187,788