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Financial Instruments (Tables)
 12 Months Ended
Apr. 30, 2024
Investments, All Other Investments [Abstract]  
Financial Instruments and Balance Sheet Classification
The following tables show the Company’s financial instruments and balance sheet classification as of April 30, 2024 and 2023:
April 30, 2024
Fair Value Measurement Balance Sheet Classification
CostUnrealized
Gains		Unrealized
Losses		Fair
Value		Cash and
Cash
Equivalents		Marketable
Securities,
Current		Marketable
Securities,
Non-current
Other Accrued Liabilities
(in thousands)
Changes in Fair Value Recorded in
Other Comprehensive Loss
Level 2:
Commercial paper$16,873 $1 $(19)$16,855 $3,932 $12,923 $— $— 
Corporate notes/bonds17,322 3 (27)17,298 — 10,050 7,248 — 
U.S. Treasury and Agency Securities4,355 — (9)4,346 — 2,441 1,905 — 
Total debt investments$38,550 $4 $(55)$38,499 $3,932 $25,414 $9,153 $— 
Changes in Fair Value Recorded in
Net Income
Level 1:
Mutual funds (1)
$219,856 $— $17,328 $202,528 $— 
Total equity investments$219,856 $— $17,328 $202,528 $— 
Cash$790,938 $790,938 $— $— $— 
Money market funds146,135 146,135 — — — 
Level 2:     
Foreign currency forward contracts(427)— — — (427)
Total$1,195,001 $941,005 $42,742 $211,681 $(427)
April 30, 2023
Fair Value Measurement Balance Sheet Classification
CostUnrealized
Gains		Unrealized
Losses		Fair
Value		Cash and
Cash
Equivalents		Marketable
Securities,
Current		Marketable
Securities,
Non-current
Income Taxes & Other
Receivables
(in thousands)
Changes in Fair Value Recorded in
Other Comprehensive Loss
Level 2:
Commercial paper$11,751 $— $(30)$11,721 $— $11,721 $— $— 
Corporate notes/bonds24,754 — (355)24,399 — 21,492 2,907 — 
Total debt investments$36,505 $— $(385)$36,120 $— $33,213 $2,907 $— 
Changes in Fair Value Recorded in
Net Income
Level 1:
Mutual funds (1)
$187,757 $— $11,624 $176,133 $— 
Total equity investments$187,757 $— $11,624 $176,133 $— 
Cash$696,180 $696,180 $— $— $— 
Money market funds147,844 147,844 — — — 
Level 2:
Foreign currency forward contracts2,133 — — — 2,133 
Total$1,070,034 $844,024 $44,837 $179,040 $2,133 
_______________________________
(1)These investments are held in trust for settlement of the Company’s vested obligations of $198.6 million and $172.2 million as of April 30, 2024 and 2023, respectively, under the ECAP (see Note 6 — Deferred Compensation and Retirement Plans). Unvested obligations under the deferred compensation plans totaled $22.4 million and $21.9 million as of April 30, 2024 and 2023, respectively. During fiscal 2024 and 2023, the fair value of the investments increased; therefore, the Company recognized income of $29.8 million and $2.9 million, respectively, which was recorded in other income (loss), net. During fiscal 2022, the fair value of the investments decreased; therefore, the Company recognized a loss of $12.0 million which was recorded in other income (loss), net.
Financial Instruments and Balance Sheet Classification
The following tables show the Company’s financial instruments and balance sheet classification as of April 30, 2024 and 2023:
April 30, 2024
Fair Value Measurement Balance Sheet Classification
CostUnrealized
Gains		Unrealized
Losses		Fair
Value		Cash and
Cash
Equivalents		Marketable
Securities,
Current		Marketable
Securities,
Non-current
Other Accrued Liabilities
(in thousands)
Changes in Fair Value Recorded in
Other Comprehensive Loss
Level 2:
Commercial paper$16,873 $1 $(19)$16,855 $3,932 $12,923 $— $— 
Corporate notes/bonds17,322 3 (27)17,298 — 10,050 7,248 — 
U.S. Treasury and Agency Securities4,355 — (9)4,346 — 2,441 1,905 — 
Total debt investments$38,550 $4 $(55)$38,499 $3,932 $25,414 $9,153 $— 
Changes in Fair Value Recorded in
Net Income
Level 1:
Mutual funds (1)
$219,856 $— $17,328 $202,528 $— 
Total equity investments$219,856 $— $17,328 $202,528 $— 
Cash$790,938 $790,938 $— $— $— 
Money market funds146,135 146,135 — — — 
Level 2:     
Foreign currency forward contracts(427)— — — (427)
Total$1,195,001 $941,005 $42,742 $211,681 $(427)
April 30, 2023
Fair Value Measurement Balance Sheet Classification
CostUnrealized
Gains		Unrealized
Losses		Fair
Value		Cash and
Cash
Equivalents		Marketable
Securities,
Current		Marketable
Securities,
Non-current
Income Taxes & Other
Receivables
(in thousands)
Changes in Fair Value Recorded in
Other Comprehensive Loss
Level 2:
Commercial paper$11,751 $— $(30)$11,721 $— $11,721 $— $— 
Corporate notes/bonds24,754 — (355)24,399 — 21,492 2,907 — 
Total debt investments$36,505 $— $(385)$36,120 $— $33,213 $2,907 $— 
Changes in Fair Value Recorded in
Net Income
Level 1:
Mutual funds (1)
$187,757 $— $11,624 $176,133 $— 
Total equity investments$187,757 $— $11,624 $176,133 $— 
Cash$696,180 $696,180 $— $— $— 
Money market funds147,844 147,844 — — — 
Level 2:
Foreign currency forward contracts2,133 — — — 2,133 
Total$1,070,034 $844,024 $44,837 $179,040 $2,133 
_______________________________
(1)These investments are held in trust for settlement of the Company’s vested obligations of $198.6 million and $172.2 million as of April 30, 2024 and 2023, respectively, under the ECAP (see Note 6 — Deferred Compensation and Retirement Plans). Unvested obligations under the deferred compensation plans totaled $22.4 million and $21.9 million as of April 30, 2024 and 2023, respectively. During fiscal 2024 and 2023, the fair value of the investments increased; therefore, the Company recognized income of $29.8 million and $2.9 million, respectively, which was recorded in other income (loss), net. During fiscal 2022, the fair value of the investments decreased; therefore, the Company recognized a loss of $12.0 million which was recorded in other income (loss), net.
Fair Value of Assets Derivatives
The fair value of derivatives not designated as hedge instruments are as follows:
April 30,
20242023
(in thousands)
Derivative assets:
Foreign currency forward contracts$979 $2,813 
Derivative liabilities:
Foreign currency forward contracts$1,406 $680 
Fair Value of Liabilities Derivatives
The fair value of derivatives not designated as hedge instruments are as follows:
April 30,
20242023
(in thousands)
Derivative assets:
Foreign currency forward contracts$979 $2,813 
Derivative liabilities:
Foreign currency forward contracts$1,406 $680