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Debt and Available Credit Facilities
12 Months Ended
Apr. 30, 2013
Debt and Available Credit Facilities [Abstract]  
Debt and Available Credit Facilities
Note 14 - Debt and Available Credit Facilities
 
As of April 30, 2013 and 2012, the Company's long-term debt consisted of amounts due under its revolving credit facility of approximately $673.0 million and $475.0 million, respectively.  On November 2, 2011, the Company amended and restated its existing credit facility with Bank of America - Merrill Lynch and The Royal Bank of Scotland plc as joint lead arrangers and Bank of America as administrative agent.  The new agreement consisted of a $700 million five-year senior revolving credit facility, which can be drawn in multiple currencies.  The proceeds of the new revolving credit facility were used to pay down the Company's prior credit facility and meet seasonal operating cash requirements.  On October 18, 2012, the Company increased the facility's credit limit to $825 million to finance the Deltak acquisition.  Under the current agreement, the Company has the option of borrowing at the following floating interest rates:  (i) at a rate based on the London Interbank Offered Rate ("LIBOR") plus an applicable margin ranging from 1.05% to 1.65%, depending on the Company's consolidated leverage ratio, as defined, or (ii) for U.S. dollar-denominated loans only, at the lender's base rate plus an applicable margin ranging from zero to 0.65%, depending on the Company's consolidated leverage ratio.  The lender's base rate is defined as the highest of (i) the U.S. federal funds effective rate plus a 0.50% margin, (ii) the Eurocurrency rate, as defined, plus a 1.00% margin, or (iii) the Bank of America prime lending rate.  In addition, the Company pays a facility fee ranging from 0.20% to 0.35% depending on the Company's consolidated leverage ratio.  The Company also has the option to request an additional credit limit increase of up to $125 million in minimum increments of $50 million, subject to the approval of the lenders. The amended credit agreement contains certain restrictive covenants related to the Company's consolidated leverage ratio and interest coverage ratio, which the Company was in compliance with as of April 30, 2013. Due to the fact that there are no principal payments due until the end of the amended agreement in fiscal year 2017, the Company has classified its entire debt obligation as long-term as of April 30, 2013.
 
The Company and its subsidiaries have other short-term lines of credit aggregating $10.3 million at various interest rates. No borrowings under the credit lines were outstanding as of April 30, 2013 or 2012. The Company's total available lines of credit as of April 30, 2013 were approximately $835 million, of which approximately $162 million was unused. The weighted average interest rates on long-term debt outstanding during fiscal years 2013 and 2012 were 1.93% and 1.60%, respectively. As of April 30, 2013 and 2012, the weighted average interest rates for the long-term debt were 1.86% and 2.01%, respectively.  Based on estimates of interest rates currently available to the Company for loans with similar terms and maturities, the fair value of the Company's long-term debt approximates its carrying value.