Accumulated Other Comprehensive Income (Loss) The Company’s other comprehensive income (loss) consists of unrealized gains and losses on the translation of the assets, liabilities, and equity of its foreign subsidiaries, changes in the fair value of its cash flow hedges, and additional minimum pension liability adjustments, net of income taxes. The before tax income (loss), related income tax effect, and accumulated balances are as follows: | | | | | | | | | | | | | | | | | | $ in thousands | | Cash Flow Hedges | | Foreign Currency Translation Adjustment | | Minimum Pension Liability Adjustment | | Total Accumulated Other Comprehensive Income (Loss) | Balance at April 30, 2018 | | $ | (3 | ) | | $ | (1,427 | ) | | $ | (4,470 | ) | | $ | (5,900 | ) | Effect of changes in tax rates | | — |
| | — |
| | (68 | ) | | (68 | ) | Foreign currency translation adjustment | | — |
| | (464 | ) | | — |
| | (464 | ) | Change in fair value of cash flow hedges | | 4 |
| | — |
| | — |
| | 4 |
| Change in unrecognized actuarial loss on pension obligations | | — |
| | — |
| | 36 |
| | 36 |
| Income tax effect | | (1 | ) | | — |
| | (14 | ) | | (15 | ) | Balance at April 30, 2019 | | — |
| | (1,891 | ) | | (4,516 | ) | | (6,407 | ) | Effect of changes in tax rates | | | | — |
| | — |
| | — |
| Foreign currency translation adjustment | | — |
| | (444 | ) | | — |
| | (444 | ) | Change in fair value of cash flow hedges | | 1 |
| | — |
| | — |
| | 1 |
| Change in unrecognized actuarial loss on pension obligations | | — |
| | — |
| | (3,592 | ) | | (3,592 | ) | Income tax effect | | (1 | ) | | 1 |
| | 844 |
| | 844 |
| Balance at April 30, 2020 | | $ | — |
| | $ | (2,334 | ) | | $ | (7,264 | ) | | $ | (9,598 | ) |
|