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Fair Value of Financial Instruments
 12 Months Ended
Apr. 30, 2013
Fair Value of Financial Instruments [Abstract]  
FAIR VALUE OF FINANCIAL INSTRUMENTS
FAIR VALUE OF FINANCIAL INSTRUMENTS
The fair values of cash, cash equivalents, and short-term borrowings approximate the carrying amounts due to the short maturities of these instruments. We determine the fair values of derivative financial instruments and long-term debt as discussed in Note 8.
Below is a comparison of the fair values and carrying amounts of these instruments:
 
2012
 
2013
April 30,
Carrying
Amount
 
Fair
Value
 
Carrying
Amount
 
Fair
Value
Assets:
 
 
 
 
 
 
 
Cash and cash equivalents
$
338

 
$
338

 
$
204

 
$
204

Commodity derivatives
—

 
—

 
—

 
—

Currency derivatives
1

 
1

 
5

 
5

Interest rate swaps
2

 
2

 
—

 
—

Liabilities:
 
 
 
 
 
 
 
Commodity derivatives
1

 
1

 
—

 
—

Currency derivatives
7

 
7

 
4

 
4

Short-term borrowings
4

 
4

 
3

 
3

Current portion of long-term debt
3

 
3

 
2

 
2

Long-term debt
503

 
534

 
997

 
1,011