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Share-Based Payments (Tables)
12 Months Ended
Apr. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Weighted-average Black-Scholes assumptions for stock options granted
The fair value of each stock option is estimated on the date of grant using a Black-Scholes option-pricing model with the following weighted-average assumptions for stock options granted:
20242023
Expected volatility25.0 %25.0 %
Dividend yield2.7 %3.1 %
Risk-free interest rate3.9 %3.6 %
Expected life of stock options (years)6.06.0
Summary of the Company's stock option activity and related information
The following table is a summary of our stock option activity.
Number of 
Stock Options
Weighted-Average
Exercise Price
Outstanding at May 1, 2024656,959 $125.40 
Exercised(16,600)111.86 
Cancelled(2,820)132.17 
Outstanding at April 30, 2025
637,539 $125.72 
Exercisable at April 30, 2025
557,197 $123.29 
Summary of restricted shares, deferred shares, deferred stock units, and performance units The following table is a summary of our restricted shares, deferred stock units, and performance units.
Restricted Shares
and Deferred
Stock Units
Weighted-Average
Grant Date Fair Value Per Share
Performance
Units
Weighted-Average
Grant Date Fair Value Per Share
Outstanding at May 1, 2024
256,757 $138.46 353,396 $140.20 
Granted186,895 111.44 157,329 117.74 
Vested(89,703)138.74 (102,792)135.53 
Forfeited(29,528)123.69 (53,827)134.05 
Outstanding at April 30, 2025
324,421 $124.16 354,106 $132.51 
Weighted-average grant date fair values of the equity awards
The following table summarizes the weighted-average fair values of the equity awards granted.
Year Ended April 30,Restricted Shares
and Deferred
Stock Units
Weighted-Average
Grant Date Fair Value Per Share
Performance
Units
Weighted-Average
Grant Date Fair Value Per Share
2025186,895 $111.44 157,329 $117.74 
2024155,354 143.60 117,312 153.20 
2023146,290 131.96 130,939 133.01