Income Taxes (Tables)
|
12 Months Ended |
Apr. 30, 2020 |
|---|
| Income Tax Disclosure [Abstract] |
|
| Domestic and Foreign Components of Income (Loss) from Continuing Operations before Domestic and Foreign Income and Other Taxes |
Income (loss) from continuing operations before provision for income taxes was as follows:
|
|
|
Year Ended April 30,
|
|
|
|
|
2020
|
|
|
2019
|
|
|
2018
|
|
|
|
|
(in thousands)
|
|
|
Domestic
|
|
$
|
40,736
|
|
|
$
|
(22,039
|
)
|
|
$
|
47,164
|
|
|
Foreign
|
|
|
110,226
|
|
|
|
156,379
|
|
|
|
158,866
|
|
|
Income before provision for income taxes
|
|
$
|
150,962
|
|
|
$
|
134,340
|
|
|
$
|
206,030
|
|
|
| Provision (Benefit) for Domestic and Foreign Income Taxes |
The provision (benefit) for domestic and foreign income taxes was as follows:
|
|
|
Year Ended April 30,
|
|
|
|
|
2020
|
|
|
2019
|
|
|
2018
|
|
|
|
|
(in thousands)
|
|
|
Current income taxes:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal
|
|
$
|
14,336
|
|
|
$
|
6,152
|
|
|
$
|
29,400
|
|
|
State
|
|
|
4,974
|
|
|
|
9,097
|
|
|
|
2,863
|
|
|
Foreign
|
|
|
33,965
|
|
|
|
42,091
|
|
|
|
44,434
|
|
|
Current provision for income taxes
|
|
|
53,275
|
|
|
|
57,340
|
|
|
|
76,697
|
|
|
Deferred income taxes:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal
|
|
|
(6,862
|
)
|
|
|
(16,211
|
)
|
|
|
(3,530
|
)
|
|
State
|
|
|
(784
|
)
|
|
|
(7,682
|
)
|
|
|
(317
|
)
|
|
Foreign
|
|
|
(1,684
|
)
|
|
|
(3,903
|
)
|
|
|
(2,717
|
)
|
|
Deferred benefit for income taxes
|
|
|
(9,330
|
)
|
|
|
(27,796
|
)
|
|
|
(6,564
|
)
|
|
Total provision for income taxes
|
|
$
|
43,945
|
|
|
$
|
29,544
|
|
|
$
|
70,133
|
|
|
| Reconciliation of Statutory Federal Income Tax Rate to Effective Consolidated Tax Rate |
The reconciliation of the statutory federal income tax rate to the effective consolidated tax rate is as follows:
|
|
|
Year Ended April 30,
|
|
|
|
|
2020
|
|
|
2019
|
|
|
2018
|
|
|
U.S. federal statutory income tax rate
|
|
|
21.0
|
%
|
|
|
21.0
|
%
|
|
|
30.4
|
%
|
|
State tax, net of federal effect
|
|
|
2.2
|
|
|
|
1.1
|
|
|
|
1.0
|
|
|
Foreign tax rates differential
|
|
|
4.5
|
|
|
|
5.0
|
|
|
|
(2.3
|
)
|
|
Transition tax
|
|
|
—
|
|
|
|
—
|
|
|
|
9.0
|
|
|
Deferred tax remeasurement
|
|
|
—
|
|
|
|
—
|
|
|
|
(2.4
|
)
|
|
Non-deductible officers compensation
|
|
|
0.5
|
|
|
|
1.1
|
|
|
|
—
|
|
|
Excess tax benefit on stock-based compensation
|
|
|
(1.0
|
)
|
|
|
(3.1
|
)
|
|
|
—
|
|
|
Change in valuation allowance
|
|
|
—
|
|
|
|
(2.0
|
)
|
|
|
(2.3
|
)
|
|
Other
|
|
|
1.9
|
|
|
|
(1.1
|
)
|
|
|
0.6
|
|
|
Effective income tax rate
|
|
|
29.1
|
%
|
|
|
22.0
|
%
|
|
|
34.0
|
%
|
|
| Components of Deferred Tax Assets and Liabilities |
Components of deferred tax assets and liabilities were as follows:
|
|
|
April 30,
|
|
|
|
|
2020
|
|
|
2019
|
|
|
|
|
(in thousands)
|
|
|
Deferred tax assets:
|
|
|
|
|
|
|
|
|
|
Deferred compensation
|
|
$
|
86,479
|
|
|
$
|
75,521
|
|
|
Operating lease liability
|
|
|
37,934
|
|
|
|
—
|
|
|
Loss carryforwards
|
|
|
27,845
|
|
|
|
22,467
|
|
|
Reserves and accruals
|
|
|
14,211
|
|
|
|
12,954
|
|
|
Deferred rent
|
|
|
—
|
|
|
|
7,652
|
|
|
Deferred revenue
|
|
|
1,187
|
|
|
|
1,090
|
|
|
Allowance for doubtful accounts
|
|
|
4,029
|
|
|
|
3,217
|
|
|
Other
|
|
|
1,516
|
|
|
|
—
|
|
|
Gross deferred tax assets
|
|
|
173,201
|
|
|
|
122,901
|
|
|
Deferred tax liabilities:
|
|
|
|
|
|
|
|
|
|
Operating lease, right-of-use, assets
|
|
|
(29,998
|
)
|
|
|
—
|
|
|
Intangibles and Goodwill
|
|
|
(29,006
|
)
|
|
|
(28,958
|
)
|
|
Property and equipment
|
|
|
(22,332
|
)
|
|
|
(15,883
|
)
|
|
Prepaid expenses
|
|
|
(19,567
|
)
|
|
|
(20,152
|
)
|
|
Other
|
|
|
—
|
|
|
|
(1,759
|
)
|
|
Gross deferred tax liabilities
|
|
|
(100,903
|
)
|
|
|
(66,752
|
)
|
|
Valuation allowances
|
|
|
(17,875
|
)
|
|
|
(14,032
|
)
|
|
Net deferred tax asset
|
|
$
|
54,423
|
|
|
$
|
42,117
|
|
|
| Changes in Unrecognized Tax Benefits |
A reconciliation of the beginning and ending balances of the unrecognized tax benefits is as follows:
|
|
|
Year Ended April 30,
|
|
|
|
|
2020
|
|
|
2019
|
|
|
2018
|
|
|
|
|
(in thousands)
|
|
|
Unrecognized tax benefits, beginning of year
|
|
$
|
7,794
|
|
|
$
|
3,674
|
|
|
$
|
2,478
|
|
|
Settlement with tax authority
|
|
|
(1,767
|
)
|
|
|
(1,771
|
)
|
|
|
(708
|
)
|
|
Additions based on tax positions related to the current year
|
|
|
10
|
|
|
|
1,775
|
|
|
|
1,116
|
|
|
Additions based on tax positions related to prior years
|
|
|
—
|
|
|
|
4,116
|
|
|
|
788
|
|
|
Unrecognized tax benefits, end of year
|
|
$
|
6,037
|
|
|
$
|
7,794
|
|
|
$
|
3,674
|
|
|