Significant Accounting Policies (Tables)

12 Months Ended

Apr. 30, 2018

A summary of the estimated useful lives is as follows:

Description	Useful Life
Building and improvements		10 to 40 years
Software and hardware		2 to 7 years
Machinery and equipment		2 to 10 years

Reconciliation of Net Income Amounts and Weighted Average Number of Common and Common Equivalent Shares Used to Determine Basic and Diluted Earnings per Common Share

The following table provides a reconciliation of the net income amounts and weighted average number of common and common equivalent shares used to determine basic and diluted earnings per common share (in thousands, except per share data):

	For the Year Ended April 30,
	2018								2017								2016
	Net					Per Share			Net					Per Share			Net					Per Share
	Income			Shares		Amount			Income			Shares		Amount			Income			Shares		Amount
Basic earnings	$		20,128		54,061	$		0.37	$		127,854		55,930	$	2.29		$		93,958		54,765	$	1.72
Effect of dilutive stock awards		—			773		—			—			961		(0.04	)		—			1,200		(0.04	)
Diluted earnings	$		20,128		54,834	$		0.37	$		127,854		56,891	$	2.25		$		93,958		55,965	$	1.68

Change in Accrued Warranties Recorded as Non-Current Liability

The following table sets forth the change in accrued warranties, a portion of which is recorded as a non-current liability, in the fiscal years ended April 30, 2018, 2017, and 2016 (in thousands):


Balance as of April 30, 2016	$	8,403
Warranties issued and adjustments to provisions		3,769
Changes related to preexisting product recall accruals		(2,437	)
Warranties assumed in acquisition		228
Warranty claims		(4,419	)
Balance as of April 30, 2017		5,544
Warranties issued and adjustments to provisions		5,834
Warranty claims		(3,865	)
Balance as of April 30, 2018	$	7,513