Annual report pursuant to Section 13 and 15(d)

Comprehensive Income

v3.22.2
Comprehensive Income
12 Months Ended
Apr. 30, 2022
Equity [Abstract]  
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, net were as follows:

 

 

 

April 30,

 

 

 

2022

 

 

2021

 

 

 

(in thousands)

 

Foreign currency translation adjustments

 

$

(92,717

)

 

$

(33,666

)

Deferred compensation and pension plan adjustments, net of taxes

 

 

961

 

 

 

(18,135

)

Marketable securities unrealized loss, net of tax

 

 

(429

)

 

 

(19

)

Accumulated other comprehensive loss, net

 

$

(92,185

)

 

$

(51,820

)

 

 

The following table summarizes the changes in each component of accumulated other comprehensive loss, net:

 

 

 

Foreign

Currency

Translation

 

 

Deferred

Compensation

and Pension

Plan (1)

 

 

Unrealized Gains (Losses) on Marketable Securities (2)

 

 

Unrealized

Gains on

Interest Rate

Swap (3)

 

 

Accumulated

Other

Comprehensive

Loss

 

 

 

 

 

 

 

(in thousands)

 

 

 

 

 

Balance as of May 1, 2019

 

$

(60,270

)

 

$

(16,838

)

 

$

 

 

$

456

 

 

$

(76,652

)

Unrealized (losses) gains arising during the period

 

 

(23,382

)

 

 

(8,883

)

 

 

37

 

 

 

(678

)

 

 

(32,906

)

Reclassification of realized net losses (gains) to net income

 

 

 

 

 

2,167

 

 

 

(3

)

 

 

222

 

 

 

2,386

 

Balance as of April 30, 2020

 

 

(83,652

)

 

 

(23,554

)

 

 

34

 

 

 

 

 

 

(107,172

)

Unrealized gains (losses) arising during the period

 

 

49,986

 

 

 

2,660

 

 

 

(53

)

 

 

 

 

 

52,593

 

Reclassification of realized net losses to net income

 

 

 

 

 

2,759

 

 

 

 

 

 

 

 

 

2,759

 

Balance as of April 30, 2021

 

 

(33,666

)

 

 

(18,135

)

 

 

(19

)

 

 

 

 

 

(51,820

)

Unrealized (losses) gains arising during the period

 

 

(59,051

)

 

 

17,747

 

 

 

(411

)

 

 

 

 

 

(41,715

)

Reclassification of realized net losses to net income

 

 

 

 

 

1,349

 

 

 

1

 

 

 

 

 

 

1,350

 

Balance as of April 30, 2022

 

$

(92,717

)

 

$

961

 

 

$

(429

)

 

$

 

 

$

(92,185

)

 

(1)

The tax effects on unrealized gains (losses) were $6.0 million, $1.1 million and $(3.1) million as of April 30, 2022, 2021 and 2020, respectively. The tax effects on reclassifications of realized net losses were $0.5 million, $1.0 million and $0.8 million as of April 30, 2022, 2021 and 2020, respectively.

(2)

The tax effects on unrealized (losses) were $(0.1) million as of April 30, 2022.

(3)

The tax effects on unrealized (losses) were $(0.2) million as of April 30, 2020. The tax effects on the reclassification of realized net losses to net income was $0.1 million as of April 30, 2020.