Financial Instruments (Tables)

3 Months Ended

Jul. 31, 2026

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 Measurement			Balance 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 funds		147,545		147,545		—		—		—
Level 2:
Foreign currency forward contracts		448		—		—		—		448
Total		$	1,051,517	$	800,852	$	15,439	$	234,778	$	448


	April 30, 2026
	Fair Value Measurement								Balance Sheet Classification
	Cost		Unrealized 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/bonds	40,473		18		(59)		40,432		—		23,457		16,975		—
U.S. Treasury and Agency Securities	501		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 funds							312,320		312,320		—		—		—
Level 2:
Foreign currency forward contracts							283		—		—		—		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.

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 Measurement			Balance 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 funds		147,545		147,545		—		—		—
Level 2:
Foreign currency forward contracts		448		—		—		—		448
Total		$	1,051,517	$	800,852	$	15,439	$	234,778	$	448


	April 30, 2026
	Fair Value Measurement								Balance Sheet Classification
	Cost		Unrealized 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/bonds	40,473		18		(59)		40,432		—		23,457		16,975		—
U.S. Treasury and Agency Securities	501		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 funds							312,320		312,320		—		—		—
Level 2:
Foreign currency forward contracts							283		—		—		—		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.