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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Oct. 31, 2021
Oct. 31, 2020
Oct. 31, 2021
Oct. 31, 2020
Operating activities        
Net income $ 55,967 $ 68,432 $ 69,797 $ 84,766
Adjustments to reconcile net income to net cash used in operating activities:        
Amortization of intangible assets 21,476 17,166 42,627 34,057
Amortization of product development assets     18,088 17,448
Depreciation and amortization of technology, property and equipment     48,406 46,432
Restructuring and related (credits) charges [1] (1,333) 1,920 (1,609) 4,138
Stock-based compensation expense 6,700 4,800 13,059 9,066
Employee retirement plan expense     9,892 6,498
Foreign exchange transaction losses 1,370 697 1,000 779
Gain on sale of certain assets 56 0 (3,694) 0
Other noncash charges     37,663 31,143
Net change in operating assets and liabilities     (310,851) (310,949)
Net cash used in operating activities     (75,622) (76,622)
Investing activities        
Product development spending     (13,001) (10,999)
Additions to technology, property and equipment     (37,676) (36,430)
Businesses acquired in purchase transactions, net of cash acquired     (13,615) (229)
Proceeds related to the sale of certain assets     3,375 0
Acquisitions of publication rights and other     (1,654) (14,021)
Net cash used in investing activities     (62,571) (61,679)
Financing activities        
Repayments of long-term debt     (113,425) (249,902)
Borrowings of long-term debt     340,901 309,492
Purchases of treasury shares     (17,367) 0
Change in book overdrafts     (19,212) (1,165)
Cash dividends     (38,619) (38,480)
Impact of tax withholding on stock-based compensation and other     (5,232) (1,346)
Net cash provided by financing activities     147,046 18,599
Effects of exchange rate changes on cash, cash equivalents, and restricted cash     (1,742) 3,301
Cash reconciliation:        
Cash and cash equivalents     93,795 202,464
Restricted cash included in Prepaid expenses and other current assets     564 583
Balance at beginning of period     94,359 203,047
Increase/(decrease) for the period     7,111 (116,401)
Cash and cash equivalents 100,898 86,063 100,898 86,063
Restricted cash included in Prepaid expenses and other current assets 572 583 572 583
Balance at end of period $ 101,470 $ 86,646 101,470 86,646
Cash paid during the period for:        
Interest     8,769 8,374
Income taxes, net of refunds     $ 22,019 $ 37,344
[1] See Note 9, “Restructuring and Related (Credits) Charges” for these charges by segment.