Earnings per Share

3 Months Ended

12 Months Ended

Jul. 31, 2011

Apr. 30, 2011

Earnings per Share [Abstract]

Earnings per Share

Note I — Earnings per Share

The following tables set forth the computation of net income per common share and net income per common share — assuming dilution.

	Three Months Ended July 31,
	2011		2010
Computation of net income per share:
Net income	$	111,523	$	102,881
Net income allocated to participating securities		1,127		987
Net income allocated to common shareholders	$	110,396	$	101,894
Weighted-average common shares outstanding		113,122,789		118,156,815
Net income per common share	$	0.98	$	0.86

	Three Months Ended July 31,
	2011		2010
Computation of net income per share — assuming dilution:
Net income	$	111,523	$	102,881
Net income allocated to participating securities		1,127		986
Net income allocated to common shareholders	$	110,396	$	101,895
Weighted-average common shares outstanding		113,122,789		118,156,815
Dilutive effect of stock options		57,637		139,564
Weighted-average common shares outstanding — assuming dilution		113,180,426		118,296,379
Net income per common share — assuming dilution	$	0.98	$	0.86

The following table reconciles the weighted-average common shares used in the basic and diluted earnings per share disclosures to the total weighted-average shares outstanding.

	Three Months Ended July 31,
	2011		2010
Weighted-average common shares outstanding		113,122,789		118,156,815
Weighted-average participating shares outstanding		1,154,758		1,144,111
Total weighted-average shares outstanding		114,277,547		119,300,926
Dilutive effect of stock options		57,637		139,564
Total weighted-average shares outstanding — assuming dilution		114,335,184		119,440,490

Note F: Earnings per Share

In 2010, the Company adopted the two-class method of computing earnings per share as required by FASB ASC 260, Earnings Per Share. FASB ASC 260 provides that unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents, whether paid or unpaid, are participating securities and are to be included in the computation of earnings per share under the two-class method described in FASB ASC 260. The Company’s unvested restricted shares contain rights to receive nonforfeitable dividends and are participating securities. All presented prior period earnings per share data has been adjusted to retrospectively reflect the application of the two-class method. The conversion to the two-class method resulted in a reduction of net income per common share and net income per common share — assuming dilution for the year ended April 30, 2009, of $0.03 and $0.01 per share, respectively.

The following table sets forth the computation of net income per common share and net income per common share - assuming dilution.

	Year Ended April 30,
	2011		2010		2009
Computation of net income per share:
Net income	$	479,482	$	494,138	$	265,953
Net income allocated to participating securities		4,692		4,321		1,944
Net income allocated to common stockholders	$	474,790	$	489,817	$	264,009
Weighted-average common shares outstanding		117,009,362		117,911,160		84,823,849
Net income per common share	$	4.06	$	4.15	$	3.11
Computation of net income per share — assuming dilution:
Net income	$	479,482	$	494,138	$	265,953
Net income allocated to participating securities		4,690		4,318		1,947
Net income allocated to common stockholders	$	474,792	$	489,820	$	264,006
Weighted-average common shares outstanding		117,009,362		117,911,160		84,823,849
Dilutive effect of stock options		110,335		130,011		98,938
Weighted-average common shares outstanding — assuming dilution		117,119,697		118,041,171		84,922,787
Net income per common share — assuming dilution	$	4.05	$	4.15	$	3.11

The following table reconciles the weighted-average common shares used in the basic and diluted earnings per share disclosures to the total weighted-average shares outstanding.

	Year Ended April 30,
	2011		2010		2009
Weighted-average common shares outstanding		117,009,362		117,911,160		84,823,849
Weighted-average participating shares outstanding		1,156,389		1,040,274		624,743
Weighted-average shares outstanding		118,165,751		118,951,434		85,448,592
Dilutive effect of stock options		110,335		130,011		98,938
Weighted-average shares outstanding — assuming dilution		118,276,086		119,081,445		85,547,530