Income Taxes (Tables)

12 Months Ended

Apr. 30, 2021

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,	2021		2020		2019
Domestic	$	489,499	$	56,121	$	389,319
Foreign	179,237		(59,495)		155,841
	$	668,736	$	(3,374)	$	545,160

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,	2021		2020		2019
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	1.8	%	20.4	%	2.3	%
Earnings taxed in foreign jurisdictions	(1.2)	%	619.4	%	(2.7)	%
Permanent differences	0.5	%	(257.5)	%	0.3	%
Impairment of goodwill	—	%	(832.5)	%	—	%
Uncertain tax positions	7.5	%	508.3	%	(2.3)	%
U.S. tax on income from foreign affiliates	1.0	%	(247.4)	%	—	%
Remeasurement of deferred tax assets and liabilities	(0.1)	%	117.6	%	0.2	%
Changes in prior year estimates	(0.5)	%	55.5	%	—	%
Federal income tax credits	(0.9)	%	216.3	%	—	%
Tax impacts of stock-based compensation vesting	—	%	44.8	%	—	%
Tax benefit due to NOL carryback under CARES Act	(17.5)	%	—	%	—	%
Tax deductible write-down of foreign investment	(1.7)	%	—	%	—	%
Change in valuation allowance - domestic	(0.2)	%	37.1	%	0.4	%
Change in valuation allowance - foreign	1.7	%	20.6	%	(0.8)	%
Other	0.3	%	(41.2)	%	(0.1)	%
Effective tax rate	11.7	%	282.4	%	18.3	%

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,	2021		2020		2019
Current:
Federal	$	58,834	$	18,048	$	74,993
State	12,000		(16,614)		12,345
Foreign	26,032		1,991		6,711
	96,866		3,425		94,049
Deferred:
Federal	2,493		1,703		6,625
State	(11,368)		(1,516)		(1,070)
Foreign	(9,467)		(13,142)		300
	(18,342)		(12,955)		5,855
Total income taxes (benefit) for continuing operations	$	78,524	$	(9,530)	$	99,904

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,	2021		2020
Deferred tax assets:
Accrued expenses	$	3,576	$	4,646
Deferred revenue	10,445		11,082
Allowance for credit losses and related reserves	33,027		29,666
Deferred and stock-based compensation	24,712		6,669
Net operating loss carry-forward	104,013		86,213
Lease liabilities	112,249		126,505
Federal tax benefits related to state unrecognized tax benefits	16,682		16,729
Property and equipment	40,138		—
Intangibles - intellectual property	86,711		85,688
Valuation allowance	(55,401)		(45,124)
Total deferred tax assets	376,152		322,074
Deferred tax liabilities:
Prepaid expenses and other	(11,927)		(5,189)
Lease right of use assets	(109,726)		(123,900)
Property and equipment	—		(12,221)
Income tax method change	(56,257)		—
Intangibles	(72,650)		(64,252)
Total deferred tax liabilities	(250,560)		(205,562)
Net deferred tax assets	$	125,592	$	116,512

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,	2021		2020
Deferred income tax assets	$	141,836	$	138,527
Deferred tax liabilities	(16,244)		(22,015)
Net deferred tax asset	$	125,592	$	116,512

Summary of Valuation Allowance

Changes in our valuation allowance for fiscal years 2021, 2020 and 2019 are as follows:

(in 000s)
Year ended April 30,	2021		2020		2019
Balance, beginning of the year	$	45,124	$	47,070	$	49,215
Additions charged to costs and expenses	13,492		2,151		2,302
Deductions	(3,215)		(4,097)		(4,447)
Balance, end of the year	$	55,401	$	45,124	$	47,070

Schedule Of Reconciliation Of Unrecognized Tax Benefits

Changes in unrecognized tax benefits for fiscal years 2021, 2020 and 2019 are as follows:

(in 000s)
Year ended April 30,	2021		2020		2019
Balance, beginning of the year	$	168,062	$	185,144	$	186,061
Additions based on tax positions related to prior years	121,364		1,501		9,937
Reductions based on tax positions related to prior years	(34,470)		(10,128)		(42,647)
Additions based on tax positions related to the current year	43,800		12,093		38,611
Reductions related to settlements with tax authorities	(29,362)		(980)		(2,025)
Expiration of statute of limitations	(4,584)		(19,568)		(4,793)
Balance, end of the year	$	264,810	$	168,062	$	185,144