v3.26.1
Derivative Financial Instruments (Tables)
 12 Months Ended
Apr. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Outstanding derivative contracts
The following table presents the gross notional value of outstanding derivative contracts.
  Year Ended April 30,
  20262025
Commodity contracts$606.2 $1,698.1 
Foreign currency exchange contracts74.4 122.4 
Fair value of derivative instruments
The following tables set forth the gross fair value amounts of derivative instruments recognized in the Consolidated Balance     Sheets.
  April 30, 2026
  Other
Current
Assets		Other
Current
Liabilities		Other
Noncurrent
Assets		Other
Noncurrent
Liabilities
Derivatives not designated as hedging instruments:
Commodity contracts$32.0 $11.0 $— $— 
Foreign currency exchange contracts0.2 0.4 — — 
Total derivative instruments$32.2 $11.4 $— $— 
  April 30, 2025
  Other
Current
Assets		Other
Current
Liabilities		Other
Noncurrent
Assets		Other
Noncurrent
Liabilities
Derivatives not designated as hedging instruments:
Commodity contracts$81.5 $18.7 $— $— 
Foreign currency exchange contracts0.8 1.5 — — 
Total derivative instruments$82.3 $20.2 $— $— 
Net gains and losses recognized in cost of products sold on derivatives not designated as qualified hedging instruments
The following table presents the net gains and losses recognized in cost of products sold on derivatives not designated as hedging instruments.
  Year Ended April 30,
  202620252024
Derivative gains (losses) on commodity contracts$(114.5)$100.7 $26.1 
Derivative gains (losses) on foreign currency exchange contracts0.2 1.6 1.5 
Total derivative gains (losses) recognized in cost of products sold$(114.3)$102.3 $27.6 
Schedule of unallocated derivative (losses) gains
The following table presents the net change in cumulative unallocated derivative gains and losses.
  Year Ended April 30,
  202620252024
Net derivative gains (losses) recognized and classified as unallocated$(114.3)$102.3 $27.6 
Less: Net derivative gains (losses) reclassified to segment operating profit(55.7)44.1 20.9 
Change in net cumulative unallocated derivative gains and losses$(58.6)$58.2 $6.7 
Pre-tax gains and losses recognized on interest rate contracts designated as cash flow hedges
The following table presents information on the pre-tax gains and losses recognized on all contracts previously designated as cash flow hedges.
Year Ended April 30,
202620252024
Gains (losses) recognized in other comprehensive income (loss)$— $— $— 
Less: Gains (losses) reclassified from accumulated other comprehensive income (loss) to interest expense – net (A)
(12.5)(12.8)(13.6)
Less: Gains (losses) reclassified from accumulated other comprehensive income to other debt gains (charges) – net (B)
— (56.9)— 
Change in accumulated other comprehensive income (loss)$12.5 $69.7 $13.6 
(A)Interest expense – net, as presented in the Statements of Consolidated Income (Loss), was $381.2, $388.7, and $264.3 in 2026, 2025, and 2024, respectively. The reclassification includes terminated contracts which were designated as cash flow hedges.
(B)Other debt gains (charges) – net, as presented in the Statements of Consolidated Income (Loss), was a gain of $30.2 and a charge of $19.5, in 2025 and 2024, respectively. There were no reported other debt gains (charges) – net in 2026 . The reclassification is related to the debt extinguishment due to the tender offers in 2025, as discussed in Note 8: Debt and Financing Arrangements.