Fair Value (Tables)

6 Months Ended

Oct. 31, 2014

Assets Remeasured At Fair Value On Non-Recurring Basis

the six months ended October 31, 2014 and 2013 and the losses on those remeasurements:



(dollars in 000s)
	Total			Level 1			Level 2			Level 3			Losses
As of October 31, 2014:
Impaired mortgage loans held for investment	$	62,300		$	—		$	—		$	62,300		$	(1,440	)
As a percentage of total assets	2.0		%	—		%	—		%	2.0		%

As of October 31, 2013:
Impaired mortgage loans held for investment	$	76,148		$	—		$	—		$	76,148		$	(2,353	)
As a percentage of total assets	2.3		%	—		%	—		%	2.3		%

Quantitative Information About Level 3 Fair Value Measurements



(in 000s)
	Fair Value as of October 31, 2014		Valuation Technique	Unobservable Input	Range (Weighted Average)
Impaired mortgage loans held for investment – non TDRs	$	69,157	Collateral- based	Cost to list/sell Time to sell (months) Collateral depreciation Loss severity	0% – 190%(9%) 24 (24) (166%) – 100%(39%) 0% – 100%(61%)
Impaired mortgage loans held for investment – TDRs	$	35,964	Discounted cash flow	Aged default performance Loss severity	24% – 38%(31%) 0% – 22%(7%)

Fair Value Measurements, Recurring and Nonrecurring

The carrying amounts and estimated fair values of our financial instruments are as follows:



(in 000s)
As of	October 31, 2014				October 31, 2013				April 30, 2014
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Assets:
Cash and cash equivalents	$	627,490	$	627,490	$	790,772	$	790,772	$	2,185,307	$	2,185,307
Cash and cash equivalents - restricted	55,543		55,543		47,521		47,521		115,319		115,319
Receivables, net - short-term	107,705		107,705		131,701		133,884		191,618		191,618
Mortgage loans held for investment, net	251,092		192,411		295,907		211,690		268,428		192,281
Investments in AFS securities	390,954		390,954		465,344		465,344		427,824		427,824
Receivables, net - long-term	101,805		101,805		198,597		206,481		111,795		111,795
Liabilities:
Customer banking deposits	455,308		452,351		656,305		656,300		770,288		765,376
Long-term debt	506,360		550,332		906,581		947,350		906,474		955,050
Contingent consideration payments	10,555		10,555		12,454		12,454		9,206		9,206

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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