| Comprehensive Income |
3. Comprehensive Income
Comprehensive income is comprised of net income and all changes to
stockholders’ equity, except those changes resulting from
investments by stockholders (changes in paid in capital) and
distributions to stockholders (dividends) and is reported in the
accompanying consolidated statements of comprehensive income.
Accumulated other comprehensive loss, net of taxes, is recorded as
a component of stockholders’ equity.
The components of accumulated other comprehensive loss were as
follows:
|
|
|
|
|
|
|
|
|
| |
|
October 31,
2015
|
|
|
April 30,
2015
|
|
| |
|
(in thousands)
|
|
|
Foreign currency translation adjustments
|
|
$ |
(37,902 |
) |
|
$ |
(20,919 |
) |
|
Deferred compensation and pension plan adjustments, net of tax
|
|
|
(18,813 |
) |
|
|
(19,708 |
) |
|
Unrealized gains on marketable securities, net of tax
|
|
|
— |
|
|
|
4 |
|
|
|
|
|
|
|
|
|
|
|
Accumulated other comprehensive loss, net
|
|
$ |
(56,715 |
) |
|
$ |
(40,623 |
) |
|
|
|
|
|
|
|
|
|
The following table summarizes the changes in each component of
accumulated other comprehensive income (loss) for the three months
ended October 31, 2015:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Foreign
Currency
Translation |
|
|
Deferred
Compensation
and Pension
Plan (1) |
|
|
Unrealized
Losses on
Marketable
Securities |
|
|
Accumulated
Other
Comprehensive
Income (Loss) |
|
| |
|
(in thousands)
|
|
|
Balance as of July 31, 2015
|
|
$ |
(36,551 |
) |
|
$ |
(19,261 |
) |
|
$ |
— |
|
|
$ |
(55,812 |
) |
|
Unrealized losses arising during the period
|
|
|
(1,351 |
) |
|
|
— |
|
|
|
— |
|
|
|
(1,351 |
) |
|
Reclassification of realized net losses to net income
|
|
|
— |
|
|
|
448 |
|
|
|
— |
|
|
|
448 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as of October 31, 2015
|
|
$ |
(37,902 |
) |
|
$ |
(18,813 |
) |
|
$ |
— |
|
|
$ |
(56,715 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following table summarizes the changes in each component of
accumulated other comprehensive income (loss) for the six months
ended October 31, 2015:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Foreign
Currency
Translation |
|
|
Deferred
Compensation
and Pension
Plan (1) |
|
|
Unrealized
Gains
(Losses) on
Marketable
Securities |
|
|
Accumulated
Other
Comprehensive
Income (Loss) |
|
| |
|
(in thousands)
|
|
|
Balance as of April 30, 2015
|
|
$ |
(20,919 |
) |
|
$ |
(19,708 |
) |
|
$ |
4 |
|
|
$ |
(40,623 |
) |
|
Unrealized losses arising during the period
|
|
|
(16,983 |
) |
|
|
— |
|
|
|
(4 |
) |
|
|
(16,987 |
) |
|
Reclassification of realized net losses to net income
|
|
|
— |
|
|
|
895 |
|
|
|
— |
|
|
|
895 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as of October 31, 2015
|
|
$ |
(37,902 |
) |
|
$ |
(18,813 |
) |
|
$ |
— |
|
|
$ |
(56,715 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (1) |
The tax effects on the
reclassifications of realized net losses was $0.3 million and $0.6
million for the three and six months ended October 31, 2015,
respectively. |
The following table summarizes the changes in each component of
accumulated other comprehensive income (loss) for the three months
ended October 31, 2014:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Foreign
Currency
Translation |
|
|
Deferred
Compensation
and Pension
Plan (1) |
|
|
Unrealized
Gains
(Losses) on
Marketable
Securities |
|
|
Accumulated
Other
Comprehensive
Income (Loss) |
|
| |
|
(in thousands)
|
|
|
Balance as of July 31, 2014
|
|
$ |
11,924 |
|
|
$ |
(17,519 |
) |
|
$ |
8 |
|
|
$ |
(5,587 |
) |
|
Unrealized gains (losses) arising during the period
|
|
|
(12,555 |
) |
|
|
— |
|
|
|
4 |
|
|
|
(12,551 |
) |
|
Reclassification of realized net losses to net income
|
|
|
— |
|
|
|
467 |
|
|
|
— |
|
|
|
467 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as of October 31, 2014
|
|
$ |
(631 |
) |
|
$ |
(17,052 |
) |
|
$ |
12 |
|
|
$ |
(17,671 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following table summarizes the changes in each component of
accumulated other comprehensive income (loss) for the six months
ended October 31, 2014:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Foreign
Currency
Translation |
|
|
Deferred
Compensation
and Pension
Plan (1) |
|
|
Unrealized
Gains
(Losses) on
Marketable
Securities |
|
|
Accumulated
Other
Comprehensive
Income (Loss) |
|
| |
|
(in thousands)
|
|
|
Balance as of April 30, 2014
|
|
$ |
15,604 |
|
|
$ |
(18,006 |
) |
|
$ |
14 |
|
|
$ |
(2,388 |
) |
|
Unrealized losses arising during the period
|
|
|
(16,235 |
) |
|
|
— |
|
|
|
(2 |
) |
|
|
(16,237 |
) |
|
Reclassification of realized net losses to net income
|
|
|
— |
|
|
|
954 |
|
|
|
— |
|
|
|
954 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as of October 31, 2014
|
|
$ |
(631 |
) |
|
$ |
(17,052 |
) |
|
$ |
12 |
|
|
$ |
(17,671 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (1) |
The tax effects on the
reclassifications of realized net losses was $0.3 million and $0.6
million for the three and six months ended October 31, 2014,
respectively. |
|