| Components of Accumulated Other Comprehensive (Loss) Income |
The components of accumulated other comprehensive (loss) income were as follows:
|
|
|
April 30, |
|
|
|
|
2019 |
|
|
2018 |
|
|
|
|
(in thousands) |
|
|
Foreign currency translation adjustments |
|
$ |
(60,270 |
) |
|
$ |
(32,399 |
) |
|
Deferred compensation and pension plan adjustments, net of taxes |
|
|
(16,838 |
) |
|
|
(9,073 |
) |
|
Interest rate swap unrealized gain, net of taxes |
|
|
456 |
|
|
|
1,337 |
|
|
Accumulated other comprehensive loss, net |
|
$ |
(76,652 |
) |
|
$ |
(40,135 |
) |
|
| Changes in Each Component of Accumulated Other Comprehensive (Loss) Income |
The following table summarizes the changes in each component of accumulated other comprehensive (loss) income:
|
|
|
Foreign
Currency
Translation |
|
|
Deferred
Compensation
and Pension
Plan (1) |
|
|
Unrealized
(Losses)
Gains on
Interest Rate
Swap (2) |
|
|
Accumulated
Other
Comprehensive
Income (Loss) |
|
|
|
|
|
|
|
|
(in thousands) |
|
|
|
|
|
|
Balance as of May 1, 2016 |
|
$ |
(36,339 |
) |
|
$ |
(21,572 |
) |
|
$ |
— |
|
|
$ |
(57,911 |
) |
|
Unrealized (losses) gains arising during the period |
|
|
(19,020 |
) |
|
|
4,584 |
|
|
|
(635 |
) |
|
|
(15,071 |
) |
|
Reclassification of realized net losses to net income |
|
|
— |
|
|
|
1,861 |
|
|
|
57 |
|
|
|
1,918 |
|
|
Balance as of April 30, 2017 |
|
|
(55,359 |
) |
|
|
(15,127 |
) |
|
|
(578 |
) |
|
|
(71,064 |
) |
|
Unrealized gains arising during the period |
|
|
22,960 |
|
|
|
4,813 |
|
|
|
1,465 |
|
|
|
29,238 |
|
|
Reclassification of realized net losses to net income |
|
|
— |
|
|
|
1,241 |
|
|
|
450 |
|
|
|
1,691 |
|
|
Balance as of April 30, 2018 |
|
|
(32,399 |
) |
|
|
(9,073 |
) |
|
|
1,337 |
|
|
|
(40,135 |
) |
|
Unrealized losses arising during the period |
|
|
(27,871 |
) |
|
|
(6,461 |
) |
|
|
(800 |
) |
|
|
(35,132 |
) |
|
Reclassification of realized losses (gains) to net income |
|
|
— |
|
|
|
1,092 |
|
|
|
(280 |
) |
|
|
812 |
|
|
Effect of adoption of accounting standard |
|
|
— |
|
|
|
(2,396 |
) |
|
|
199 |
|
|
|
(2,197 |
) |
|
Balance as of April 30, 2019 |
|
$ |
(60,270 |
) |
|
$ |
(16,838 |
) |
|
$ |
456 |
|
|
$ |
(76,652 |
) |
|
(1) |
The tax effects on unrealized (losses) gains were $(2.3) million, $2.5 million and $1.9 million as of April 30, 2019, 2018 and 2017, respectively. The tax effects on reclassifications of realized net losses were $0.4 million, $0.8 million and $1.2 million as of April 30, 2019, 2018 and 2017, respectively. |
|
(2) |
The tax effects on unrealized (losses) gains were $(0.3) million, $0.8 million and $(0.4) million as of April 30, 2019, 2018 and 2017, respectively. The tax effect on the reclassification of realized net gains (losses) to net income was $0.1 million and $(0.3) million as of April 30, 2019 and 2018, respectively. |
|