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Derivative Financial Instruments (Tables)
 6 Months Ended
Oct. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair value of derivative instruments
The following tables set forth the gross fair value amounts of derivative instruments recognized in the Condensed Consolidated Balance Sheets.
 
October 31, 2018
 
Other
Current
Assets
 
Other
Current
Liabilities
 
Other
Noncurrent
Assets
 
Other
Noncurrent
Liabilities
Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
Interest rate contracts
$
—

 
$
—

 
$
10.5

 
$
—

Total derivatives designated as hedging instruments
$
—

 
$
—

 
$
10.5

 
$
—

Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
Commodity contracts
$
21.1

 
$
13.8

 
$
—

 
$
0.2

Foreign currency exchange contracts
2.0

 
—

 
—

 
—

Total derivatives not designated as hedging instruments
$
23.1

 
$
13.8

 
$
—

 
$
0.2

Total derivative instruments
$
23.1

 
$
13.8

 
$
10.5

 
$
0.2

 
April 30, 2018
 
Other
Current
Assets
 
Other
Current
Liabilities
 
Other
Noncurrent
Assets
 
Other
Noncurrent
Liabilities
Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
Commodity contracts
$
14.8

 
$
6.8

 
$
0.4

 
$
0.2

Foreign currency exchange contracts
2.2

 
0.7

 
—

 
—

Total derivative instruments
$
17.0

 
$
7.5

 
$
0.4

 
$
0.2
Pre-tax gains and losses recognized on interest rate contracts designated as cash flow hedges
The following table presents information on the pre-tax gains and losses recognized on interest rate contracts designated as cash flow hedges.
 
Three Months Ended October 31,
 
Six Months Ended October 31,
 
2018
 
2017
 
2018
 
2017
Gains (losses) recognized in other comprehensive
   income (loss)
$
7.9

 
$
1.0

 
$
10.5

 
$
3.5

Less: Gains (losses) reclassified from accumulated
   other comprehensive income (loss) to interest expense

(0.1
)
 
(0.2
)
 
(0.2
)
 
(0.3
)
Change in accumulated other comprehensive income
   (loss)

$
8.0

 
$
1.2

 
$
10.7

 
$
3.8
Net realized and unrealized gains and losses recognized in cost of products sold on derivatives not designated as qualified hedging instruments
The following table presents the net gains and losses recognized in cost of products sold on derivatives not designated as hedging instruments.
 
Three Months Ended October 31,
 
Six Months Ended October 31,
 
2018
 
2017
 
2018
 
2017
Gains (losses) on commodity contracts
$
(3.2
)
 
$
(13.9
)
 
$
(30.1
)
 
$
2.5

Gains (losses) on foreign currency exchange contracts
0.8

 
4.3

 
1.5

 
(5.2
)
Total gains (losses) recognized in cost of products sold
$
(2.4
)
 
$
(9.6
)
 
$
(28.6
)
 
$
(2.7
)
Schedule of unallocated derivative gains (losses)
The following table presents the activity in unallocated derivative gains and losses.
 
Three Months Ended October 31,
 
Six Months Ended October 31,
 
2018
 
2017
 
2018
 
2017
Net gains (losses) on mark-to-market valuation of
   unallocated derivative positions

$
(2.4
)
 
$
(9.6
)
 
$
(28.6
)
 
$
(2.7
)
Less: Net gains (losses) on derivative positions
   reclassified to segment operating profit
(2.3
)
 
(19.3
)
 
(6.5
)
 
(25.0
)
Unallocated derivative gains (losses)
$
(0.1
)
 
$
9.7

 
$
(22.1
)
 
$
22.3
Outstanding derivative contracts
The following table presents the gross contract notional value of outstanding derivative contracts.
 
October 31, 2018
 
April 30, 2018
Commodity contracts
$
949.1

 
$
658.0

Foreign currency exchange contracts
64.0

 
122.1

Interest rate contract
500.0

 
—