Fair Value Measurement (Tables)

12 Months Ended

Apr. 30, 2015

Fair Value Measurements, Recurring and Nonrecurring

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



(in 000s)
As of April 30,	2015				2014
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value		Fair Value Hierarchy
Assets:
Cash and cash equivalents	$	2,007,190	$	2,007,190	$	2,185,307	$	2,185,307	Level 1
Cash and cash equivalents - restricted	91,972		91,972		115,319		115,319		Level 1
Receivables, net - short-term	167,964		167,964		191,618		191,618		Level 1
Mortgage loans held for investment, net	239,338		190,196		268,428		192,281		Level 3
Investments in AFS securities	441,709		441,709		427,824		427,824		Level 1 and 2
Receivables, net - long-term	80,867		80,867		104,678		104,678		Level 1 and 3
Liabilities:
Customer banking deposits	744,699		737,261		770,288		765,376		Level 1 and 3
Long-term debt	506,088		556,769		906,474		955,050		Level 2
Contingent consideration payments	10,667		10,667		9,206		9,206		Level 3

Assets Remeasured At Fair Value On Recurring Basis

Assets Remeasured At Fair Value On Non-Recurring Basis

the fiscal years ended April 30, 2015 and 2014 and the losses on those remeasurements:



(dollars in 000s)
	Total			Level 1		Level 2		Level 3			Losses
As of April 30, 2015:
Impaired mortgage loans held for investment	$	56,784		$	—	$	—	$	56,784		$	(1,678	)
As a percentage of total assets	1.3		%	—		—		1.3		%

As of April 30, 2014:
Impaired mortgage loans held for investment	$	69,131		$	—	$	—	$	69,131		$	(3,739	)
As a percentage of total assets	1.5		%	—		—		1.5		%

Quantitative Information About Level 3 Fair Value Measurements



(dollars in 000s)
	Fair Value at April 30, 2015		Valuation Technique	Unobservable Input	Range (Weighted Average)
Impaired mortgage loans held for investment - non TDRs	$	67,214	Collateral- based	Cost to list/sell Time to sell (months) Collateral depreciation Loss severity	0% – 167%(10%) 12(12) (128%) – 100%(35%) 0% – 100%(61%)
Impaired mortgage loans held for investment - TDRs	$	32,759	Discounted cash flow	Aged default performance Loss severity	24% – 38%(31%) 0% – 23%(7%)

- 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.

+ References+ Details

- 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.

+ References+ Details