Income Taxes (Tables)

12 Months Ended

Apr. 30, 2020

Income Tax Disclosure [Abstract]

Schedule Of Components Of Income From Continuing Operations

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

(in 000s)
Year ended April 30,	2020			2019		2018
Domestic	$	56,121		$	389,319	$	547,101
Foreign	(59,495		)	155,841		121,631
	$	(3,374	)	$	545,160	$	668,732

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,	2020		2019		2018
U.S. statutory tax rate	21.0	%	21.0	%	21.0	%
Change in tax rate resulting from:
State income taxes, net of federal income tax benefit	20.4	%	2.3	%	2.2	%
Earnings taxed in foreign jurisdictions	619.4	%	(2.7	)%	(4.9	)%
Permanent differences	(257.5	)%	0.3	%	0.4	%
Impairment of Goodwill	(832.5	)%	—	%	—	%
Uncertain tax positions	508.3	%	(2.3	)%	3.6	%
U.S. tax on income from foreign affiliates	(247.4	)%	—	%	—	%
Remeasurement of deferred tax assets and liabilities	117.6	%	0.2	%	(2.6	)%
Changes in prior year estimates	55.5	%	—	%	—	%
Federal income tax credits	216.3	%	—	%	—	%
Tax impacts of stock-based compensation vesting	44.8	%	—	%	—	%
Tax benefit due to effective date of statutory rate change	—	%	—	%	(15.9	)%
Change in valuation allowance - domestic	37.1	%	0.4	%	1.1	%
Change in valuation allowance - foreign	20.6	%	(0.8	)%	2.9	%
Other	(41.2	)%	(0.1	)%	(1.5	)%
Effective tax rate	282.4	%	18.3	%	6.3	%

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,	2020			2019			2018
Current:
Federal	$	18,048		$	74,993		$	(53,630	)
State	(16,614		)	12,345			25,240
Foreign	1,991			6,711			9,953
	3,425			94,049			(18,437		)
Deferred:
Federal	1,703			6,625			50,505
State	(1,516		)	(1,070		)	24,666
Foreign	(13,142		)	300			(14,911		)
	(12,955		)	5,855			60,260
Total income tax expense (benefit)	$	(9,530	)	$	99,904		$	41,823

Schedule Of Deferred Tax Assets And Liabilities

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

(in 000s)
As of April 30,	2020			2019
Deferred tax assets:
Accrued expenses	$	4,646		$	4,479
Deferred revenue	11,082			9,603
Allowance for credit losses and related reserves	29,666			25,849
Internally-developed software	—			4,588
Deferred and stock-based compensation	6,669			5,970
Net operating loss carry-forward	86,213			72,618
Lease liabilities	126,505			—
Federal tax benefits related to state unrecognized tax benefits	16,729			20,141
Intangibles - intellectual property	85,688			93,300
Valuation allowance	(45,124		)	(47,070		)
Total deferred tax assets	322,074			189,478
Deferred tax liabilities:
Prepaid expenses and other	(5,189		)	(8,592		)
Lease right of use asset	(123,900		)	—
Property and equipment	(12,221		)	(9,726		)
Intangibles	(64,252		)	(59,477		)
Total deferred tax liabilities	(205,562		)	(77,795		)
Net deferred tax assets	$	116,512		$	111,683

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,	2020			2019
Deferred income tax assets	$	138,527		$	130,609
Deferred tax liabilities	(22,015		)	(18,926		)
Net deferred tax asset	$	116,512		$	111,683

Summary of Valuation Allowance

Changes in our valuation allowance for fiscal years 2020, 2019 and 2018 are as follows:

(in 000s)
Year ended April 30,	2020			2019			2018
Balance, beginning of the year	$	47,070		$	49,215		$	22,844
Additions:
Charged to costs and expenses	2,151			2,302			26,371
Charged to other accounts	—			—			—
Deductions	(4,097		)	(4,447		)	—
Balance, end of the year	$	45,124		$	47,070		$	49,215

Schedule Of Reconciliation Of Unrecognized Tax Benefits

Changes in unrecognized tax benefits for fiscal years 2020, 2019 and 2018 are as follows:

(in 000s)
Year ended April 30,	2020			2019			2018
Balance, beginning of the year	$	185,144		$	186,061		$	149,943
Additions based on tax positions related to prior years	1,501			9,937			6,657
Reductions based on tax positions related to prior years	(10,128		)	(42,647		)	(25,259		)
Additions based on tax positions related to the current year	12,093			38,611			68,292
Reductions related to settlements with tax authorities	(980		)	(2,025		)	(637		)
Expiration of statute of limitations	(19,568		)	(4,793		)	(12,936		)
Other	—			—			1
Balance, end of the year	$	168,062		$	185,144		$	186,061