Subsequent Events |
3 Months Ended |
|---|---|
Jul. 31, 2026 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | Subsequent Events Credit Facility On August 18, 2026 (the “Effective Date”), the Company entered into an amended and restated credit agreement (the “A&R Credit Agreement”) with Wells Fargo Bank, National Association as administrative agent, and other lender parties thereto, which amends and restates the Credit Agreement, among the Company, the lenders party thereto and Wells Fargo Bank, National Association as administrative agent. The A&R Credit Agreement amends and restates the Credit Agreement to, among other things, (1) provide for a $600 million senior secured term loan facility (the “Term Loan Facility”), (2) continue the Company’s existing $850 million senior secured revolving credit facility (the “Revolving Credit Facility”), and (3) set the maturity of the Term Loan Facility and the Revolving Credit Facility to five years from the Effective Date. The obligations under the A&R Credit Agreement are secured by substantially all of the assets of the Company and those of its subsidiaries that are guarantors under the A&R Credit Agreement. Amounts outstanding under the A&R Credit Agreement will bear interest at a rate equal to, at the Company’s election, either Term SOFR, plus an interest rate margin between 1.125% per annum and 2.00% per annum, depending on the Company’s consolidated net leverage ratio, or base rate plus an interest rate margin between 0.125% per annum and 1.00% per annum, depending on the Company’s consolidated net leverage ratio. In connection with its entry into the A&R Credit Agreement, the Company borrowed the full principal amount of the Term Loan Facility on the Effective Date. The Term Loan Facility requires quarterly principal payments starting December 31, 2026 of $3.75 million, increasing to $7.5 million starting on December 31, 2028, with the remaining outstanding principal due on August 18, 2031. The Company used $406 million of the proceeds from the Term Loan Facility to redeem all of the Company’s outstanding Notes at a redemption price equal to 100% of the outstanding principal amount of the Notes, together with accrued and unpaid interest, and to pay fees, commissions and expenses incurred in connection with the redemption of the Notes and the A&R Credit Agreement. The Company used the remaining $194 million of the proceeds from the Term Loan Facility and $440 million borrowed under the Revolving Credit Facility to fund a portion of the purchase price for the Company’s acquisition described in the following paragraph. Acquisition On September 1, 2026, the Company completed the acquisition of Auxey Holdco Limited (“AMS”) for $1.2 billion, consisting of $0.9 billion in cash (as consideration to the sellers, in repayment of AMS’s indebtedness, and in satisfaction of other AMS transaction obligations) and 3,118,628 shares of the Company’s common stock with a fair value of $0.3 billion. The Company used $0.3 billion from cash on hand and $0.6 billion borrowed under the A&R Credit Agreement for the Company’s acquisition. AMS is a UK-headquartered company that brings world-class capabilities in recruitment process outsourcing, early careers and campus recruiting, contingent workforce solutions, consulting and skills creation. Quarterly Dividend Declaration On September 8, 2026, the Board of Directors of the Company (the “Board”) declared a cash dividend of $0.55 per share with a payment date of October 15, 2026 to holders of the Company’s common stock of record at the close of business on September 22, 2026. The declaration and payment of future dividends under the quarterly dividend policy will be at the discretion of the Board and will depend upon many factors, including the Company’s earnings, capital requirements, financial condition, the terms of the Company’s indebtedness and other factors that the Board may deem to be relevant. The Board may amend, revoke, or suspend the dividend policy at any time and for any reason.
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