| Components of Accumulated Other Comprehensive Income (Loss) |
The components of accumulated other comprehensive income (loss) were as follows:
|
|
|
April 30,
|
|
|
|
|
2020
|
|
|
2019
|
|
|
|
|
(in thousands)
|
|
|
Foreign currency translation adjustments
|
|
$
|
(83,652
|
)
|
|
$
|
(60,270
|
)
|
|
Deferred compensation and pension plan adjustments, net of taxes
|
|
|
(23,554
|
)
|
|
|
(16,838
|
)
|
|
Marketable securities unrealized gain, net of tax
|
|
|
34
|
|
|
|
—
|
|
|
Interest rate swap unrealized gain, net of taxes
|
|
|
—
|
|
|
|
456
|
|
|
Accumulated other comprehensive loss, net
|
|
$
|
(107,172
|
)
|
|
$
|
(76,652
|
)
|
|
| Changes in Each Component of Accumulated Other Comprehensive Income (Loss) |
The following table summarizes the changes in each component of accumulated other comprehensive income (loss):
|
|
|
Foreign
Currency
Translation
|
|
|
Deferred
Compensation
and Pension
Plan (1)
|
|
|
Unrealized Gain on Marketable Securities
|
|
|
Unrealized
(Losses)
Gains on
Interest Rate
Swap (2)
|
|
|
Accumulated
Other
Comprehensive
Income (Loss)
|
|
|
|
|
|
|
|
|
(in thousands)
|
|
|
|
|
|
|
Balance as of May 1, 2017
|
|
$
|
(55,359
|
)
|
|
$
|
(15,127
|
)
|
|
$
|
—
|
|
|
$
|
(578
|
)
|
|
$
|
(71,064
|
)
|
|
Unrealized gains arising during the period
|
|
|
22,960
|
|
|
|
4,813
|
|
|
|
—
|
|
|
|
1,465
|
|
|
|
29,238
|
|
|
Reclassification of realized net losses to net income
|
|
|
—
|
|
|
|
1,241
|
|
|
|
—
|
|
|
|
450
|
|
|
|
1,691
|
|
|
Balance as of April 30, 2018
|
|
|
(32,399
|
)
|
|
|
(9,073
|
)
|
|
|
—
|
|
|
|
1,337
|
|
|
|
(40,135
|
)
|
|
Unrealized losses arising during the period
|
|
|
(27,871
|
)
|
|
|
(6,461
|
)
|
|
|
—
|
|
|
|
(800
|
)
|
|
|
(35,132
|
)
|
|
Reclassification of realized net losses (gains) to net income
|
|
|
—
|
|
|
|
1,092
|
|
|
|
—
|
|
|
|
(280
|
)
|
|
|
812
|
|
|
Effect of adoption of accounting standard
|
|
|
—
|
|
|
|
(2,396
|
)
|
|
|
—
|
|
|
|
199
|
|
|
|
(2,197
|
)
|
|
Balance as of April 30, 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
|
)
|
|
(1)
|
The tax effects on unrealized (losses) gains were $(3.1) million, $(2.3) million and $2.5 million as of April 30, 2020, 2019 and 2018, respectively. The tax effects on reclassifications of realized net losses were $0.8 million, $0.4 million and $0.8 million as of April 30, 2020, 2019 and 2018, respectively.
|
|
(2)
|
The tax effects on unrealized (losses) gains were $(0.2) million, $(0.3) million and $0.8 million as of April 30, 2020, 2019 and 2018, respectively. The tax effect on the reclassification of realized net (losses) gains to net income was $(0.1) million, $0.1 million and $(0.3) million as of April 30, 2020 2019 and 2018, respectively.
|
|