XML 41 R26.htm IDEA: XBRL DOCUMENT

Financial Instruments (Tables)

6 Months Ended

Oct. 31, 2025

The following tables show the Company’s financial instruments and balance sheet classification as of October 31, 2025 and April 30, 2025:


	October 31, 2025
	Fair Value Measurement								Balance Sheet Classification
	Cost		Unrealized 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 Income
Level 2:
Commercial paper	$	1,967	$	—	$	—	$	1,967	$	—	$	1,967	$	—	$	—
Corporate notes/bonds	37,147		68		(11)		37,204		—		22,900		14,304		—
U.S. Treasury and Agency Securities	2,402		3		(1)		2,404		—		—		2,404		—
Total debt investments	$	41,516	$	71	$	(12)	$	41,575	$	—	$	24,867	$	16,708	$	—
Changes in Fair Value Recorded in
Net Income
Level 1:
Mutual funds (1)							$	235,161	$	—	$	14,642	$	220,519	$	—
Total equity investments							$	235,161	$	—	$	14,642	$	220,519	$	—
Cash							$	598,067	$	598,067	$	—	$	—	$	—
Money market funds							163,512		163,512		—		—		—
Level 2:
Foreign currency forward contracts							(700)		—		—		—		(700)
Total							$	1,037,615	$	761,579	$	39,509	$	237,227	$	(700)


	April 30, 2025
	Fair Value Measurement								Balance Sheet Classification
	Cost		Unrealized 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	$	3,842	$	—	$	(1)	$	3,841	$	500	$	3,341	$	—	$	—
Corporate notes/bonds	32,747		83		(10)		32,820		—		18,709		14,111		—
U.S. Treasury and Agency Securities	3,497		4		—		3,501		—		1,995		1,506		—
Total debt investments	$	40,086	$	87	$	(11)	$	40,162	$	500	$	24,045	$	15,617	$	—
Changes in Fair Value Recorded in
Net Income
Level 1:
Mutual funds (1)							$	230,352	$	—	$	12,343	$	218,009	$	—
Total equity investments							$	230,352	$	—	$	12,343	$	218,009	$	—
Cash							$	704,091	$	704,091	$	—	$	—	$	—
Money market funds							302,373		302,373		—		—		—
Level 2:
Foreign currency forward contracts							891		—		—		—		891
Total							$	1,277,869	$	1,006,964	$	36,388	$	233,626	$	891

___________________


(1)			These investments are held in trust for settlement of the Company’s vested obligations of $217.7 million and $205.3 million as of October 31, 2025 and April 30, 2025, respectively, under the ECAP (see Note 6 — Deferred Compensation and Retirement Plans). Unvested obligations under the deferred compensation plans totaled $18.3 million and $19.5 million as of October 31, 2025 and April 30, 2025, respectively. During the three and six months ended October 31, 2025, the fair value of the investments increased; therefore, the Company recognized a gain of $6.7 million and $19.0 million, respectively, which was recorded in other income, net. During the three and six months ended October 31, 2024, the fair value of the investments increased; therefore, the Company recognized a gain of $4.7 million and $18.9 million, respectively, which was recorded in other income, net.

The following tables show the Company’s financial instruments and balance sheet classification as of October 31, 2025 and April 30, 2025:


	October 31, 2025
	Fair Value Measurement								Balance Sheet Classification
	Cost		Unrealized 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 Income
Level 2:
Commercial paper	$	1,967	$	—	$	—	$	1,967	$	—	$	1,967	$	—	$	—
Corporate notes/bonds	37,147		68		(11)		37,204		—		22,900		14,304		—
U.S. Treasury and Agency Securities	2,402		3		(1)		2,404		—		—		2,404		—
Total debt investments	$	41,516	$	71	$	(12)	$	41,575	$	—	$	24,867	$	16,708	$	—
Changes in Fair Value Recorded in
Net Income
Level 1:
Mutual funds (1)							$	235,161	$	—	$	14,642	$	220,519	$	—
Total equity investments							$	235,161	$	—	$	14,642	$	220,519	$	—
Cash							$	598,067	$	598,067	$	—	$	—	$	—
Money market funds							163,512		163,512		—		—		—
Level 2:
Foreign currency forward contracts							(700)		—		—		—		(700)
Total							$	1,037,615	$	761,579	$	39,509	$	237,227	$	(700)


	April 30, 2025
	Fair Value Measurement								Balance Sheet Classification
	Cost		Unrealized 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	$	3,842	$	—	$	(1)	$	3,841	$	500	$	3,341	$	—	$	—
Corporate notes/bonds	32,747		83		(10)		32,820		—		18,709		14,111		—
U.S. Treasury and Agency Securities	3,497		4		—		3,501		—		1,995		1,506		—
Total debt investments	$	40,086	$	87	$	(11)	$	40,162	$	500	$	24,045	$	15,617	$	—
Changes in Fair Value Recorded in
Net Income
Level 1:
Mutual funds (1)							$	230,352	$	—	$	12,343	$	218,009	$	—
Total equity investments							$	230,352	$	—	$	12,343	$	218,009	$	—
Cash							$	704,091	$	704,091	$	—	$	—	$	—
Money market funds							302,373		302,373		—		—		—
Level 2:
Foreign currency forward contracts							891		—		—		—		891
Total							$	1,277,869	$	1,006,964	$	36,388	$	233,626	$	891

___________________


(1)			These investments are held in trust for settlement of the Company’s vested obligations of $217.7 million and $205.3 million as of October 31, 2025 and April 30, 2025, respectively, under the ECAP (see Note 6 — Deferred Compensation and Retirement Plans). Unvested obligations under the deferred compensation plans totaled $18.3 million and $19.5 million as of October 31, 2025 and April 30, 2025, respectively. During the three and six months ended October 31, 2025, the fair value of the investments increased; therefore, the Company recognized a gain of $6.7 million and $19.0 million, respectively, which was recorded in other income, net. During the three and six months ended October 31, 2024, the fair value of the investments increased; therefore, the Company recognized a gain of $4.7 million and $18.9 million, respectively, which was recorded in other income, net.

The fair value of derivatives not designated as hedge instruments are as follows:


	October 31, 2025		April 30, 2025

	(in thousands)
Derivative assets:
Foreign currency forward contracts	$	97	$	2,486
Derivative liabilities:
Foreign currency forward contracts	$	797	$	1,595

The fair value of derivatives not designated as hedge instruments are as follows:


	October 31, 2025		April 30, 2025

	(in thousands)
Derivative assets:
Foreign currency forward contracts	$	97	$	2,486
Derivative liabilities:
Foreign currency forward contracts	$	797	$	1,595