v3.26.1
Financial Instruments
 3 Months Ended
Jul. 31, 2026
Investments, All Other Investments [Abstract]  
Financial Instruments Financial Instruments
The following tables show the Company’s financial instruments and balance sheet classification as of July 31, 2026 and April 30, 2026:
July 31, 2026
Fair Value MeasurementBalance Sheet Classification
Fair
Value		Cash and
Cash
Equivalents		Marketable
Securities,
Current		Marketable
Securities,
Non-
current		Income Taxes & Other Receivables
(in thousands)
Changes in Fair Value Recorded in
Net Income
Level 1:
Mutual funds (1)
$250,217 $— $15,439 $234,778 $— 
Total equity investments$250,217 $— $15,439 $234,778 $— 
Cash$653,307 $653,307 $— $— $— 
Money market funds147,545 147,545 — — — 
Level 2:
Foreign currency forward contracts448 — — — 448 
Total$1,051,517 $800,852 $15,439 $234,778 $448 
April 30, 2026
Fair Value Measurement Balance Sheet Classification
CostUnrealized
Gains		Unrealized
Losses		Fair
Value		Cash and
Cash
Equivalents		Marketable
Securities,
Current		Marketable
Securities,
Non-current
Income Taxes & Other Receivables
(in thousands)
Changes in Fair Value Recorded in
Other Comprehensive Income
Level 2:
Commercial paper$1,508 $— $(2)$1,506 $— $1,506 $— $— 
Corporate notes/bonds40,473 18 (59)40,432 — 23,457 16,975 — 
U.S. Treasury and Agency Securities501 1 — 502 — 502 — — 
Total debt investments$42,482 $19 $(61)$42,440 $— $25,465 $16,975 $— 
Changes in Fair Value Recorded in
Net Income
Level 1:
Mutual funds (1)
$243,606 $— $13,449 $230,157 $— 
Total equity investments$243,606 $— $13,449 $230,157 $— 
Cash$783,125 $783,125 $— $— $— 
Money market funds312,320 312,320 — — — 
Level 2:
Foreign currency forward contracts283 — — — 283 
Total$1,381,774 $1,095,445 $38,914 $247,132 $283 
___________________
(1)
These investments are held in trust for settlement of the Company’s vested obligations of $235.2 million and $222.1 million as of July 31, 2026 and April 30, 2026, respectively, under the ECAP (see Note 6 — Deferred Compensation and Retirement Plans). Unvested obligations under the deferred compensation plans totaled $18.6 million and $18.9 million as of July 31, 2026 and April 30, 2026, respectively. During the three months ended July 31, 2026 and 2025, the fair value of the investments increased; therefore, the Company recognized a gain of $4.8 million and $12.3 million, respectively, which was recorded in other income, net.
As of July 31, 2026, the Company did not hold marketable securities classified as available-for-sale. During the three months ended July 31, 2026 and 2025, there were $45.9 million and $8.8 million in sales/maturities of available-for-sale marketable securities, respectively. Investments in marketable securities that are held in trust for settlement of the Company’s vested obligations under the ECAP are equity securities and are based upon the investment selections the employee elects from a pre-determined set of securities in the ECAP and the Company invests in equity securities to mirror these elections. As of July 31, 2026 and April 30, 2026, the Company’s investments in equity securities consisted of mutual funds for which market prices are readily available. Unrealized losses that relate to equity securities still held as of July 31, 2026 were $34.0 million, while unrealized gains that related to equity securities as of July 31, 2025 were $10.3 million