Income Taxes (Tables)

12 Months Ended

Apr. 30, 2019

Income Tax Disclosure [Abstract]

Schedule Of Components Of Income From Continuing Operations

The components of income from continuing operations upon which domestic and foreign income taxes have been provided are as follows:

(in 000s)
Year ended April 30,	2019		2018		2017
Domestic	$	389,319	$	547,101	$	535,378
Foreign	155,841		121,631		93,909
	$	545,160	$	668,732	$	629,287

Schedule Of Effective Income Tax Rate Reconciliation

The reconciliation between the income tax provision and the amount computed by applying the statutory U.S. federal tax rate to income taxes of continuing operations is as follows:

Year ended April 30,	2019		2018		2017
U.S. statutory tax rate	21.0	%	21.0	%	35.0	%
Change in tax rate resulting from:
State income taxes, net of federal income tax benefit	2.3	%	2.2	%	1.6	%
Earnings taxed in foreign jurisdictions	(2.7	)%	(4.9	)%	(4.6	)%
Permanent differences	0.3	%	0.4	%	(0.4	)%
Uncertain tax positions	(2.3	)%	3.6	%	4.3	%
Remeasurement of deferred tax assets and liabilities	0.2	%	(2.6	)%	—	%
Tax benefit due to effective date of statutory rate change	—	%	(15.9	)%	—	%
One-time transition tax	—	%	2.9	%	—	%
Tax deductible write-down of foreign investment	—	%	(2.4	)%	—	%
Change in valuation allowance - domestic	0.4	%	1.1	%	(0.1	)%
Change in valuation allowance - foreign	(0.8	)%	2.9	%	0.3	%
Other	(0.1	)%	(2.0	)%	(3.0	)%
Effective tax rate	18.3	%	6.3	%	33.1	%

Schedule Of Components Of Income Tax Expense (Benefit) For Continuing Operations

The components of income tax expense (benefit) for continuing operations are as follows:

(in 000s)
Year ended April 30,	2019			2018			2017
Current:
Federal	$	74,993		$	(53,630	)	$	147,961
State	12,345			25,240			15,118
Foreign	6,711			9,953			10,678
	94,049			(18,437		)	173,757
Deferred:
Federal	6,625			50,505			39,299
State	(1,070		)	24,666			(5,064		)
Foreign	300			(14,911		)	378
	5,855			60,260			34,613
Total income taxes for continuing operations	$	99,904		$	41,823		$	208,370

Schedule Of Deferred Tax Assets And Liabilities

A reconciliation of the deferred tax assets and liabilities and the corresponding amounts reported in the consolidated balance sheets is as follows:

(in 000s)
As of April 30,	2019			2018
Deferred income tax assets	$	130,609		$	29,455
Deferred tax liabilities	(18,926		)	(12,867		)
Net deferred tax asset	$	111,683		$	16,588

The significant components of deferred tax assets and liabilities are reflected in the following table:

(in 000s)
As of April 30,	2019			2018
Deferred tax assets:
Accrued expenses	$	4,479		$	3,847
Deferred revenue	9,603			9,482
Allowance for credit losses and related reserves	25,849			25,058
Internally-developed software	4,588			15,741
Deferred and stock-based compensation	5,970			4,526
Net operating loss carry-forward	72,618			69,567
Federal tax benefits related to state unrecognized tax benefits	20,141			15,738
Intangibles - intellectual property	93,300			—
Valuation allowance	(47,070		)	(49,215		)
Total deferred tax assets	189,478			94,744
Deferred tax liabilities:
Prepaid expenses and other	(8,592		)	(8,986		)
Property and equipment	(9,726		)	(7,944		)
Intangibles	(59,477		)	(61,226		)
Total deferred tax liabilities	(77,795		)	(78,156		)
Net deferred tax assets	$	111,683		$	16,588

Summary of Valuation Allowance

Changes in our valuation allowance for fiscal years 2019, 2018 and 2017 are as follows:

(in 000s)
Year ended April 30,	2019			2018		2017
Balance, beginning of the year	$	49,215		$	22,844	$	21,515
Additions:
Charged to costs and expenses	2,302			26,371		3,281
Charged to other accounts	—			—		—
Deductions	(4,447		)	—		(1,952		)
Balance, end of the year	$	47,070		$	49,215	$	22,844

Schedule Of Reconciliation Of Unrecognized Tax Benefits

Changes in unrecognized tax benefits for fiscal years 2019, 2018 and 2017 are as follows:

(in 000s)
Year ended April 30,	2019			2018			2017
Balance, beginning of the year	$	186,061		$	149,943		$	111,514
Additions based on tax positions related to prior years	9,937			6,657			14,743
Reductions based on tax positions related to prior years	(42,647		)	(25,259		)	(8,469		)
Additions based on tax positions related to the current year	38,611			68,292			33,264
Reductions related to settlements with tax authorities	(2,025		)	(637		)	(293		)
Expiration of statute of limitations	(4,793		)	(12,936		)	(989		)
Other	—			1			173
Balance, end of the year	$	185,144		$	186,061		$	149,943