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Share-Based Compensation (Tables)

9 Months Ended

Jan. 31, 2015

Schedule of share-based compensation data for awards granted

The following table provides share-based compensation data for awards granted by the Company:

	For the Nine Months Ended January 31,
	2015		2014
Restricted Stock:
Awards granted (in thousands)		306		375
Weighted average fair value of grant	$	59.63	$	40.75

Stock Options:
Awards granted (in thousands)		188		322
Weighted average fair value of grant	$	16.97	$	10.12

Weighted-average black-scholes fair value assumptions by stock option grants

The weighted average Black-Scholes fair value assumptions for stock option grants are as follows:

	For the Nine Months Ended January 31,
	2015			2014
Expected life of options (years)		7.2			7.4
Risk-free interest rate		2.2	%		2.1	%
Expected volatility		30.9	%		30.5	%
Expected dividend yield		1.9	%		2.5	%
Fair value of common stock on grant date	$	59.70		$	39.53

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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