Franchise (TAX) 10-Q 3 Sep 15 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jul. 31, 2015	Aug. 27, 2015
Entity Information [Line Items]
Entity Registrant Name	Liberty Tax, Inc.
Entity Central Index Key	1,528,930
Document Type	10-Q
Document Period End Date	Jul. 31, 2015
Amendment Flag	false
Current Fiscal Year End Date	--04-30
Entity Filer Category	Accelerated Filer
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Common Class A [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		11,378,347
Common Class B [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		900,000

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 31, 2015	Apr. 30, 2015	Jul. 31, 2014
Current assets:
Cash and cash equivalents	$ 4,418	$ 21,387	$ 8,649
Receivables:
Accounts receivable	33,460	46,121	30,737
Notes receivable - current	35,214	24,465	32,861
Interest receivable, net of uncollectible amounts	1,934	1,033	1,394
Allowance for doubtful accounts - current	(6,208)	(5,692)	(5,684)
Total current receivables, net	64,400	65,927	59,308
Assets Held for Sale	6,357	5,160	5,425
Income taxes receivable	7,901	0	10,946
Deferred income tax asset	6,773	6,921	3,636
Other current assets	2,552	6,470	3,058
Total current assets	92,401	105,865	91,022
Property, equipment, and software, net of accumulated depreciation of $17,665, $20,865 and $23,763, respectively	37,937	36,232	38,866
Notes, Loans and Financing Receivable, Gross, Noncurrent	23,079	22,416	16,996
Allowance for Doubtful Accounts Receivable, Noncurrent	(1,933)	(1,663)	(1,421)
Notes, Loans and Financing Receivable, Net, Noncurrent	21,146	20,753	15,575
Goodwill	3,283	3,377	3,009
Other intangible assets, net	13,339	14,672	12,786
Other assets	3,220	3,247	2,207
Total assets	171,326	184,146	163,465
Current liabilities:
Current installments of long-term debt	1,958	3,934	3,042
Accounts payable and accrued expenses	16,819	17,321	8,963
Due to Area Developers (ADs)	9,403	24,340	9,207
Income taxes payable	187	2,147	0
Deferred revenue - current	5,585	6,076	6,796
Total current liabilities	33,952	53,818	28,008
Long-term debt, excluding current installments	20,858	21,463	21,103
Revolving credit facility	16,556	0	13,822
Deferred revenue - non-current	8,964	7,640	8,097
Deferred income tax liability	3,673	2,363	4,657
Total liabilities	84,003	85,284	75,687
Stockholders’ equity:
Additional paid-in capital	4,049	4,082	6,590
Accumulated other comprehensive income (loss), net of taxes	(1,455)	(697)	184
Retained earnings	84,591	95,339	80,867
Total stockholders’ equity	87,323	98,862	87,778
Total liabilities and stockholders’ equity	171,326	184,146	163,465
Special voting preferred stock
Stockholders’ equity:
Preferred stock	0	0	0
Class A common stock
Stockholders’ equity:
Common stock	119	119	118
Class B common stock
Stockholders’ equity:
Common stock	9	9	9
Exchangeable shares
Stockholders’ equity:
Common stock	$ 10	$ 10	$ 10

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jul. 31, 2015	Apr. 30, 2015	Jul. 31, 2014
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ 17,665	$ 18,951	$ 23,763
Finite-Lived Intangible Assets, Accumulated Amortization	$ 5,418	$ 5,018	$ 5,727
Special voting preferred stock
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Preferred stock, shares authorized	10	10	10
Preferred stock, shares issued	10	10	10
Preferred stock, shares outstanding	10	10	10
Class A common stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized	21,200,000	21,200,000	21,200,000
Common stock, shares issued	11,876,581	11,905,156	11,812,069
Common stock, shares outstanding	11,876,581	11,905,156	11,812,069
Class B common stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized	1,000,000	1,000,000	1,000,000
Common stock, shares issued	900,000	900,000	900,000
Common stock, shares outstanding	900,000	900,000	900,000
Exchangeable shares
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, shares issued	1,000,000		1,000,000
Common stock, shares outstanding	1,000,000	1,000,000	1,000,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2015	Jul. 31, 2014
Revenues:
Franchise fees	$ 608	$ 704
AD fees	1,604	1,825
Royalties and advertising fees	1,745	1,694
Financial products	308	457
Interest income	2,006	2,194
Tax preparation fees, net of discounts	623	515
Other revenue	629	450
Total revenue	7,523	7,839
Operating expenses:
Employee compensation and benefits	8,633	8,415
Selling, general, and administrative expenses	7,759	7,525
AD expense	726	741
Advertising expense	2,609	2,882
Depreciation, amortization, and impairment charges	1,670	2,299
Total operating expenses	21,397	21,862
Loss from operations	(13,874)	(14,023)
Other expense:
Foreign currency transaction loss	(25)	(1)
Interest expense	(401)	(301)
Loss before income taxes	(14,300)	(14,325)
Income tax benefit	(5,764)	(5,681)
Net loss	$ (8,536)	$ (8,644)
Net loss per share of Class A and Class B common stock:
Earnings Per Share, Basic and Diluted	$ (0.67)	$ (0.67)
Weighted-average shares outstanding basic and diluted	12,811,621	12,867,273
Dividends declared per share of common stock and common stock equivalents	$ 0.16	$ 0

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2015	Jul. 31, 2014
Statement of Comprehensive Income [Abstract]
Net loss	$ (8,536)	$ (8,644)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax	(758)	118
Comprehensive loss	$ (9,294)	$ (8,526)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Jul. 31, 2015	Jul. 31, 2014
Statement of Cash Flows [Abstract]
Interest Costs Capitalized	$ 66	$ 40
Cash flows from operating activities:
Net loss	(8,536,000)	(8,644,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Provision for doubtful accounts	1,701,000	1,456,000
Depreciation, amortization, and impairment charges	1,670,000	2,299,000
Stock-based compensation expense	465,000	687,000
Gain on bargain purchases and sales of Company-owned offices	(117,000)	(95,000)
Deferred tax expense	1,458,000	2,034,000
Increase (Decrease) in Income Taxes Payable	(9,860,000)	(20,622,000)
Changes in other assets and liabilities	(2,241,000)	142,000
Net cash used in operating activities	(15,460,000)	(22,743,000)
Cash flows from investing activities:
Issuance of operating loans to franchisees	(12,333,000)	(8,505,000)
Payments received on operating loans to franchisees	654,000	1,325,000
Purchases of AD rights and Company-owned offices	(336,000)	(128,000)
Proceeds from sale of Company-owned offices and AD rights	2,239,000	643,000
Purchases of property, equipment and software	(2,686,000)	(2,814,000)
Net cash used in investing activities	(12,462,000)	(9,479,000)
Cash flows from financing activities:
Proceeds from the exercise of stock options	279,000	4,543,000
Repurchase of common stock	(1,272,000)	(22,620,000)
Payments of Ordinary Dividends	(2,212,000)	0
Repayments of Amounts Due to Former ADs	(2,318,000)	(3,840,000)
Repayment of other long-term debt	(282,000)	(641,000)
Borrowings under revolving credit facility	16,556,000	13,849,000
Repayments under revolving credit facility	0	(27,000)
Tax benefit of stock option exercises	495,000	3,509,000
Net cash provided by (used in) financing activities	11,246,000	(5,227,000)
Effect of exchange rate changes on cash, net	(293,000)	18,000
Net decrease in cash and cash equivalents	(16,969,000)	(37,431,000)
Cash and cash equivalents at beginning of period	21,387,000	46,080,000
Cash and cash equivalents at end of period	4,418,000	8,649,000
Supplemental disclosures of cash flow information:
Cash paid for interest, net of capitalized interest of $40 and $132, respectively	251,000	231,000
Cash paid for taxes, net of refunds	2,144,000	9,398,000
Capital Expenditures Incurred but Not yet Paid	281,000	267,000
During the three months ended July 31, 2015 and 2014, the Company acquired certain assets from franchisees and ADs as follows:
Fair value of assets purchased	2,134,000	1,968,000
Receivables applied, net of amounts due ADs and related deferred revenue	(1,731,000)	(1,714,000)
Business Combination, Bargain Purchase, Gain Recognized, Amount	(24,000)	(9,000)
Notes and accounts payable issued	(43,000)	(117,000)
Cash paid to franchisees and ADs	336,000	128,000
During the three months ended July 31, 2015 and 2014, the Company sold certain assets to franchisees and ADs as follows:
Book value of assets sold	1,683,000	1,773,000
Gain on sale-revenue deferred	(28,000)	0
Loss on sale - loss recognized	1,679,000	314,000
Notes received	(1,095,000)	(1,444,000)
Cash received from franchisees and ADs	$ 2,239,000	$ 643,000

Organization and Significant Ac

Organization and Significant Accounting Policies	3 Months Ended
	Jul. 31, 2015
Accounting Policies [Abstract]
Organization and Significant Accounting Policies	Organization and Significant Accounting Policies Description of Business Liberty Tax, Inc. (the "Company"), a Delaware corporation, is a holding company engaged through its subsidiaries as a franchisor and, to a lesser degree, an operator of a system of income tax preparation offices located in the United States and Canada. The Company's principal operations are conducted through JTH Tax, Inc. (d/b/a Liberty Tax Service), the Company's largest subsidiary. Through this system of income tax preparation offices, the Company also facilitates refund-based tax settlement financial products, such as refund transfer products in the United States and personal income tax refund discounting in Canada. The Company also offers online tax preparation services. Effective July 15, 2014, the Company changed its name from JTH Holding, Inc. to Liberty Tax, Inc. The Company provides a substantial amount of lending to its franchisees and ADs. The Company allows franchisees and ADs to defer a portion of the franchise fee and AD fee, which are paid over time. The Company also offers its franchisees working capital loans to fund their operations between tax seasons. The Company’s operating revenues are seasonal in nature, with peak revenues occurring in the months of January through April. Therefore, results for interim periods are not indicative of results to be expected for the full year. Unless the context requires otherwise, the terms "Liberty Tax," "Liberty Tax Service," "we," "the Company," "us," and "our" refer to Liberty Tax, Inc. and its consolidated subsidiaries. Basis of Presentation The condensed consolidated financial statements include the accounts of Liberty Tax, Inc. and its wholly-owned subsidiaries. Assets and liabilities of the Company's Canadian operations have been translated into U.S. dollars using the exchange rate in effect at the end of the period. Revenues and expenses have been translated using the average exchange rates in effect each month of the period. Foreign exchange transaction gains and losses are recognized when incurred. The Company consolidates any entities in which it has a controlling interest, the usual condition of which is ownership of a majority voting interest. The Company also considers for consolidation an entity in which the Company has certain interests where a controlling financial interest may be achieved through arrangements that do not involve voting interests. Such an entity, known as a variable interest entity ("VIE"), is required to be consolidated by its primary beneficiary. The Company does not possess any ownership interests in franchisee entities; however, the Company may provide financial support to franchisee entities. Because the Company's franchise arrangements provide franchisee entities the power to direct the activities that most significantly impact their economic performance, the Company does not consider itself the primary beneficiary of any such entity that might be a VIE. Based on the results of management's analysis of potential VIEs, the Company has not consolidated any franchisee entities. The Company's maximum exposure to loss resulting from involvement with potential VIEs is attributable to accounts and notes receivables and future lease payments due from franchisees. When the Company does not have a controlling interest in an entity but exerts significant influence over the entity, the Company applies the equity method of accounting. All intercompany balances and transactions have been eliminated in consolidation. The unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial information. The condensed consolidated financial statements, including these notes, are unaudited and exclude some of the disclosures only required in annual financial statements. Consolidated balance sheet data as of April 30, 2015 was derived from the Company’s April 30, 2015 Annual Report on Form 10-K filed on July 1, 2015. In the opinion of management, all adjustments necessary for a fair presentation of such financial statements in accordance with GAAP have been recorded. These adjustments consisted only of normal recurring items. The accompanying consolidated financial statements should be read in conjunction with the Company’s financial statements and notes thereto included in its April 30, 2015 Annual Report on Form 10-K filed on July 1, 2015. Office Count The Company will report this information for the quarter ended January 31, 2016 once all offices have been opened. Use of Estimates Management has made a number of estimates and assumptions relating to the reporting of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period, to prepare these condensed consolidated financial statements and accompanying notes in conformity with GAAP. Actual results could differ from those estimates. Accounting Pronouncements There have been no significant changes to the Company’s significant accounting policies as described in the Company’s Annual Report on Form 10-K for the fiscal year ended April 30, 2015 as filed on July 1, 2015. Foreign Operations Canadian operations contributed $1.0 million and $0.8 million in revenues for the three months ended July 31, 2015 and 2014 , respectively.

Notes and Accounts Receivable

Notes and Accounts Receivable	3 Months Ended
	Jul. 31, 2015
Receivables [Abstract]
Notes and Accounts Receivable	Accounts and Notes Receivable The Company provides financing to franchisees and ADs for the purchase of franchises, areas, Company-owned offices, and operating loans for working capital and equipment needs. The franchise-related notes generally are payable over five years and the operating loans generally are due within one year. Most notes bear interest at 12% . Notes and interest receivable, net of unrecognized revenue, as of July 31, 2015 , April 30, 2015 and July 31, 2014 are presented in the consolidated balance sheets as follows: July 31, 2015 April 30, 2015 July 31, 2014 (In thousands) Notes receivable - current $ 35,214 $ 24,465 $ 32,861 Notes receivable - non-current 23,079 22,416 16,996 Interest, net of uncollectible amounts 1,934 1,033 1,394 Total notes and interest receivable, net $ 60,227 $ 47,914 $ 51,251 Most of the notes receivable are due from the Company's franchisees and ADs and are collateralized by the underlying franchise and, when the franchise or AD is an entity, are guaranteed by the owners of the respective entity. The debtors' ability to repay the notes is dependent upon both the performance of the tax preparation industry as a whole and the individual franchisees' or ADs' areas. Accounts and notes receivable include royalties billed that relate to territories operated by franchisees located in AD territories and a portion of those accounts and notes are payable to the AD. The Company has recorded amounts payable to ADs for their share of these receivables of $9.4 million , $24.3 million , and $9.2 million at July 31, 2015 , April 30, 2015 and July 31, 2014 , respectively. Unrecognized revenue relates to the financed portion of franchise fees and AD fees and, in the case of sales of Company-owned offices, the financed portion of gains related to these sales in each case where revenue has not yet been recognized. For franchise fees and gains related to the sale of Company-owned offices, revenue is recognized as note payments are received by the Company. Payments received on AD fee notes receivable generate a corresponding increase in deferred revenue, which is amortized into revenue over the life of the AD contract, historically ten years . The Company recently changed the term of new and renewal AD contracts to six years from ten years and the revenue for these contracts will be recognized over that period, subject to the receipt of cash. Unrecognized revenue was $38.7 million , $38.6 million and $39.1 million at July 31, 2015, April 30, 2015 and July 31, 2014, respectively. At July 31, 2015 , the Company had unfunded lending commitments for working capital loans to franchisees and area developers of $23.7 million . Allowance for Doubtful Accounts The adequacy of the allowance for doubtful accounts is assessed on a quarterly basis and adjusted as deemed necessary. Management believes the recorded allowance is adequate based upon its consideration of the estimated value of the franchises and AD areas supporting the receivables. Any adverse change in the tax preparation industry or the individual franchisees' or ADs' areas could affect the Company's estimate of the allowance. Activity in the allowance for doubtful accounts for the three months ended July 31, 2015 and 2014 was as follows: Three Months Ended 2015 2014 (In thousands) Balance at beginning of period $ 7,355 $ 6,850 Provision for doubtful accounts 1,701 1,456 Write-offs (829 ) (1,212 ) Foreign currency adjustment (86 ) 11 Balance at end of period $ 8,141 $ 7,105 Management considers specific accounts and notes receivable to be impaired if the net amounts due exceed the fair value of the underlying franchise at the time of the annual valuation performed as of April 30 of each year, and estimates an allowance for doubtful accounts based on that excess. While not specifically identifiable as of the balance sheet date, the Company's experience also indicates that a portion of other accounts and notes receivable are also impaired, because management does not expect to collect all principal and interest due under the current contractual terms. Net amounts due include contractually obligated accounts and notes receivable plus accrued interest, reduced by unrecognized revenue, the allowance for uncollected interest, amounts due ADs, and amounts owed to the franchisee by the Company. In establishing the fair value of the underlying franchise, management considers recent sales between franchisees, net fees of open offices earned during the most recently completed tax season, and the number of unopened offices. The allowance for doubtful accounts at July 31, 2015 , April 30, 2015 and July 31, 2014 , was allocated as follows: July 31, 2015 April 30, 2015 July 31, 2014 (In thousands) Impaired: Notes and interest receivable, net of unrecognized revenue $ 10,633 $ 10,921 $ 7,064 Accounts receivable 6,699 7,634 4,578 Less amounts due to ADs and franchisees (1,304 ) (1,535 ) (819 ) Amounts receivable less amounts due to ADs and franchisees $ 16,028 $ 17,020 $ 10,823 Allowance for doubtful accounts for impaired notes and accounts receivable $ 6,616 $ 6,594 $ 5,425 Non-impaired: Notes and interest receivable,net of unrecognized revenue $ 49,594 $ 36,993 $ 44,187 Accounts receivable 26,761 38,487 26,159 Less amounts due to ADs and franchisees (8,795 ) (25,150 ) (9,244 ) Amounts receivable less amounts due to ADs and franchisees $ 67,560 $ 50,330 $ 61,102 Allowance for doubtful accounts for non-impaired notes and accounts receivable $ 1,525 $ 761 $ 1,680 Total: Notes and interest receivable, net of unrecognized revenue $ 60,227 $ 47,914 $ 51,251 Accounts receivable 33,460 46,121 30,737 Less amounts due to ADs and franchisees (10,099 ) (26,685 ) (10,063 ) Amounts receivable less amounts due to ADs and franchisees $ 83,588 $ 67,350 $ 71,925 Total allowance for doubtful accounts $ 8,141 $ 7,355 $ 7,105 The Company’s average investment in impaired notes receivable during the three months ended July 31, 2015 and 2014 was $10.8 million and $7.8 million , respectively. Analysis of Past Due Receivables The breakdown of accounts and notes receivable past due at July 31, 2015 was as follows: Past due Allowance for uncollectible interest Current Total receivables (In thousands) Accounts receivable $ 32,315 $ (1,134 ) $ 2,279 $ 33,460 Notes and interest receivable, net of unrecognized revenue 9,713 (1,242 ) 51,756 60,227 Total accounts, notes and interest receivable $ 42,028 $ (2,376 ) $ 54,035 $ 93,687 Accounts receivable are considered to be past due if unpaid 30 days after billing and notes receivable are considered past due if unpaid after 90 days after the due date, at which time the notes are put on nonaccrual status. The Company’s investment in notes receivable on nonaccrual status was $8.5 million , $9.3 million ,and $8.4 million at July 31, 2015, April 30, 2015, and July 31, 2014, respectively. Payments received on notes in nonaccrual status are applied to interest income first until the note is current and then to the principal note balance. Nonaccrual notes that are paid current and expected to remain current are moved back into accrual status during the next annual review.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Jul. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Changes in the carrying amount of goodwill for the three months ended July 31, 2015 and 2014 were as follows: July 31, 2015 July 31, 2014 (In thousands) Balance at beginning of period $ 3,377 $ 2,997 Acquisitions of assets from franchisees — — Disposals and foreign currency changes, net (94 ) 12 Impairments — — Balance at end of period $ 3,283 $ 3,009 Components of intangible assets were as follows as of July 31, 2015 , April 30, 2015 and July 31, 2014 : July 31, 2015 Weighted average amortization period Gross carrying amount Accumulated amortization Net carrying amount (In thousands) Amortizable intangible assets: Customer lists acquired from unrelated third parties 4 years $ 1,027 $ (85 ) $ 942 Assets acquired from franchisees: Customer lists 4 years 707 (513 ) 194 Reacquired rights 2 years 518 (438 ) 80 AD rights 10 years 16,505 (4,382 ) 12,123 Total intangible assets $ 18,757 $ (5,418 ) $ 13,339 April 30, 2015 Weighted average amortization period Gross carrying amount Accumulated amortization Net carrying amount (In thousands) Amortizable intangible assets: Customer lists acquired from unrelated third parties 4 years $ 1,027 $ — $ 1,027 Assets acquired from franchisees: Customer lists 4 years 759 (441 ) 318 Reacquired rights 2 years 559 (473 ) 86 AD rights 10 years 17,345 (4,104 ) 13,241 Total intangible assets $ 19,690 $ (5,018 ) $ 14,672 July 31, 2014 Weighted average amortization period Gross carrying amount Accumulated amortization Net carrying amount (In thousands) Amortizable intangible assets: Customer lists acquired from unrelated third parties 6 years $ 4,816 $ (1,356 ) $ 3,460 Assets acquired from franchisees: Customer lists 4 years 677 (442 ) 235 Reacquired rights 2 years 601 (392 ) 209 AD rights 10 years 12,419 (3,537 ) 8,882 Total intangible assets $ 18,513 $ (5,727 ) $ 12,786 During the three months ended July 31, 2015 , the Company acquired the assets of various Canadian franchisees for $10 thousand . During the three months ended July 31, 2014 , the Company acquired the assets of U.S. and Canadian franchisees for $235 thousand . These acquisitions were accounted for as business combinations, with all value allocated to intangible assets. The purchase price of assets acquired from franchisees during the three months ended July 31, 2015 and 2014 was allocated as follows: Three Months Ended July 31, 2015 2014 (In thousands) Customer lists and reacquired rights $ 10 $ 235 Goodwill — — Total $ 10 $ 235

Assets Held For Sale (Notes)

Assets Held For Sale (Notes)	3 Months Ended
	Jul. 31, 2015
Assets Held For Sale Disclosure [Abstract]
Assets Held for Sale	Assets Held For Sale At the end of the first quarter of fiscal 2016 and 2015 , assets acquired from U.S. franchisees were classified as assets held for sale. During the three months ended July 31, 2015 the Company acquired $2.0 million in assets from U.S. franchisees that were first accounted for as business combinations, with the value allocated to customer lists and reacquired rights of $0.9 million and goodwill of $1.1 million prior to being recorded as assets held for sale. During the three months ended July 31, 2014, the Company acquired $1.7 million in assets from U.S. franchisees and third parties that were first accounted for as business combinations, with the value allocated to customer lists and reacquired rights of $0.9 million and goodwill of $0.8 million prior to being recorded as assets held for sale. The acquired businesses are operated as Company-owned offices until a buyer is located and a new franchise agreement is entered into. Changes in the carrying amount of assets held for sale for the three months ended July 31, 2015 and 2014 were as follows: Three Months Ended July 31, 2015 2014 (In thousands) Balance at beginning of period $ 5,160 $ 4,413 Reacquired 2,001 1,682 Dispositions (804 ) (670 ) Balance at end of period $ 6,357 $ 5,425

Debt

Debt	3 Months Ended
	Jul. 31, 2015
Debt Disclosure [Abstract]
Debt	Debt In October 2014, the Company amended its credit facility. The amended credit facility consists of a $21.2 million term loan and a revolving credit facility that currently allows borrowing of up to $203.8 million with an accordion feature that permits the Company to request an increase in availability of up to an additional $50.0 million . Outstanding borrowings accrue interest which is paid monthly at a rate of the one-month London Interbank Offered Rate ("LIBOR") plus a margin ranging from 1.50% to 2.25% depending on the Company’s leverage ratio. At July 31, 2015 and 2014, the interest rate was 1.81% and 1.78% , respectively and the average interest rate paid during the three months ended July 31, 2015 and 2014 was 1.81% and 1.78% , respectively. The indebtedness is collateralized by substantially all the assets of the Company and both loans mature on April 30, 2019 (except as to the commitments of one lender under the revolving credit facility, which mature on September 30, 2017). The credit facility contains certain financial covenants that the Company must meet, including leverage and fixed-charge coverage ratios as well as minimum net worth requirements. In addition, the Company must reduce the outstanding balance under its revolving loan to zero for a period of at least 45 consecutive days each fiscal year. The Company was in compliance with the financial covenants at July 31, 2015 . Debt at July 31, 2015 , April 30, 2015 , and July 31, 2014 consisted of the following: July 31, 2015 April 30, 2015 July 31, 2014 (In thousands) Credit Facility: Revolver $ 16,556 $ — $ 13,822 Term loan 20,187 20,453 21,250 36,743 20,453 35,072 Amounts due to former ADs and mortgages 2,629 4,944 2,895 39,372 25,397 37,967 Less: current portion (1,958 ) (3,934 ) (3,042 ) Long-term debt $ 37,414 $ 21,463 $ 34,925

Income Taxes

Income Taxes	3 Months Ended
	Jul. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company computes its provision for or benefit from income taxes by applying the estimated annual effective tax rate to income or loss from recurring operations and adding the effects of any discrete income tax items specific to the period.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Jul. 31, 2015
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Stockholders' Equity Activity During the three months ended July 31, 2015 and 2014 , activity in stockholders’ equity was as follows: Three Months Ended July 31, 2015 2014 (in thousands, except for share amounts) Class A common shares issued from the exercise of stock options 17,710 283,115 Class A common shares issued from the vesting of restricted stock and as Board of Directors compensation 5,324 — Proceeds from exercise of stock options $ 279 $ 4,543 Stock-based compensation expense $ 465 $ 687 Class A common shares repurchased 51,609 881,172 Payments for repurchased shares $ 1,272 $ 22,620 Tax benefit of stock option exercises $ 495 $ 3,509 Dividends paid $ 2,212 $ — Accumulated Other Comprehensive Income (Loss) Accumulated other comprehensive income (loss) consists of foreign currency adjustments of $(1.5) million , $(0.7) million and $0.2 million at July 31, 2015 , April 30, 2015 and July 31, 2014 , respectively. Net Income (Loss) per Share Net income (loss) per share of Class A and Class B common stock is computed using the two-class method. Basic net income (loss) per share is computed by allocating undistributed earnings to common shares and participating securities (exchangeable shares) and using the weighted-average number of common shares outstanding during the period. Undistributed losses are not allocated to participating securities because they do not meet the required criteria for such allocation. Diluted net income (loss) per share is computed using the weighted-average number of common shares and, if dilutive, the potential common shares outstanding during the period. Potential common shares consist of the incremental common shares issuable upon the exercise of stock options and vesting of restricted stock units. The dilutive effect of outstanding stock options and restricted stock units is reflected in diluted earnings per share by application of the treasury stock method. Additionally, the computation of the diluted net income (loss) per share of Class A common stock assumes the conversion of Class B common stock and exchangeable shares, if dilutive, while the diluted net loss per share of Class B common stock does not assume conversion of those shares. The rights, including liquidation and dividend rights, of the holders of Class A and Class B common stock are identical, with the exception of the election of directors. As a result, the undistributed earnings for each year are allocated based on the contractual participation rights of the Class A and Class B common stock as if the earnings for the year had been distributed. Participating securities have dividend rights that are identical to Class A and Class B common stock. The computation of basic and diluted net loss per share for the three months ended July 31, 2015 and 2014 is as follows: Three Months Ended Class A Class B Common Stock Common Stock (in thousands, except for share and per Basic and diluted net loss per share: Numerator Allocation of undistributed losses $ (7,936 ) $ (600 ) Denominator Weighted-average common shares outstanding 11,911,621 900,000 Basic and diluted net loss per share $ (0.67 ) $ (0.67 ) Three Months Ended Class A Class B Common Stock Common Stock (in thousands, except for share and per share amounts) Basic and diluted net loss per share: Numerator Allocation of undistributed losses $ (8,039 ) $ (605 ) Denominator Weighted-average common shares outstanding 11,967,273 900,000 Basic and diluted net loss per share $ (0.67 ) $ (0.67 ) As a result of the net losses for the periods, diluted net loss per share excludes the impact of shares of potential common stock from the exercise of options to purchase 983,768 and 1,238,655 shares for the three months ended July 31, 2015 and 2014 , respectively, because the effect would be antidilutive.

Stock Compensation Plans

Stock Compensation Plans	3 Months Ended
	Jul. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Compensation Plans	Stock Compensation Plans Stock Options In August 2011, the Board of Directors approved an equity and cash incentive plan. Employees and outside directors are eligible to receive awards and a total of 2,500,000 shares of Class A common stock were authorized for grant under the plan. At July 31, 2015 , 1,584,129 shares of Class A common stock remain available for grant. There were no options granted during the three months ended July 31, 2015 . Stock option activity during the three months ended July 31, 2015 was as follows: Number of options Weighted average exercise price Balance at beginning of period 1,343,559 $ 19.28 Granted — — Exercised (17,710 ) 15.73 Expired or forfeited (123,490 ) 22.61 Balance at end of period 1,202,359 18.99 Intrinsic value is defined as the market value of the stock less the cost to exercise. The total intrinsic value of options exercised during the three months ended July 31, 2015 was $0.1 million . The total intrinsic value of stock options outstanding at July 31, 2015 was $9.5 million . Stock options vest from six months to five years from the date of grant and expire from four to five years after the vesting date. Nonvested stock options (options that had not vested in the period reported) activity during the three months ended July 31, 2015 was as follows: Nonvested options Weighted average exercise price Balance at beginning of period 385,416 $ 27.56 Granted — — Vested (25,000 ) 33.79 Forfeited (50,000 ) 33.79 Balance at end of period 310,416 26.06 At July 31, 2015 , unrecognized compensation costs related to nonvested stock options were $2.0 million . These costs are expected to be recognized through fiscal 2021. The following table summarizes information about stock options outstanding and exercisable at July 31, 2015 : Options Outstanding Options Exercisable Range of exercise prices Number of shares outstanding Weighted average exercise price Weighted average remaining contractual life (in years) Number of options exercisable Weighted average exercise price $10.50 $ 12,500 $ 10.50 0.7 12,500 $ 10.50 15.00 621,207 15.00 2.2 621,207 15.00 16.38 - 19.75 273,236 17.91 4.3 198,236 17.85 26.18 - 29.48 205,000 26.66 6.4 35,000 26.18 33.38 - 33.79 90,416 33.49 6.3 25,000 33.79 1,202,359 18.99 891,943 16.54 Restricted Stock Units There were no restricted stock units granted during the three months ended July 31, 2015 . Restricted stock activity during the three months ended July 31, 2015 was as follows: Number of RSUs Weighted average fair value at grant date Balance at beginning of period 28,929 $ 30.63 Granted — — Vested (4,678 ) 17.95 Forfeited (1,883 ) 29.51 Balance at end of period 22,368 33.38 At July 31, 2015 , unrecognized compensation costs related to restricted stock units were $0.5 million . These costs are expected to be recognized through fiscal 2022.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Jul. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Financial assets and liabilities subject to fair value measurements on a recurring basis are classified according to a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. Valuation methodologies for the fair value hierarchy are as follows: • Level 1 — Quoted prices for identical assets and liabilities in active markets. • Level 2 — Quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and model-based valuations in which all significant inputs are observable in the market. • Level 3 — Unobservable inputs in which little or no market data exists, therefore, requiring an entity to develop its own assumptions. The Company measures or monitors certain of its assets and liabilities on a fair value basis. Fair value is used on a recurring basis for those assets and liabilities for which fair value is the primary basis of accounting. Other assets and liabilities are measured at fair value on a nonrecurring basis; that is, they are subject to fair value adjustments in certain circumstances, such as when there is evidence of impairment. The following tables present, at July 31, 2015 , April 30, 2015 and July 31, 2014 , for each of the fair value hierarchy levels, the assets and liabilities that are measured at fair value on a recurring and nonrecurring basis (in thousands): July 31, 2015 Fair value measurements using Total Level 1 Level 2 Level 3 Assets: Nonrecurring: Impaired accounts and notes receivable $ 13,728 $ — $ — $ 13,728 Total recurring and nonrecurring assets $ 13,728 $ — $ — $ 13,728 April 30, 2015 Fair value measurements using Total Level 1 Level 2 Level 3 Assets: Recurring: Cash equivalents $ 16,975 $ 16,975 $ — $ — Nonrecurring: Impaired accounts and notes receivable 11,961 — — 11,961 Impaired online software 1,253 — — 1,253 Impaired acquired online customer lists 1,027 — — 1,027 Impaired goodwill 224 — — 224 Impaired reacquired rights 79 — — 79 Impaired customer lists 126 — — 126 Assets held for sale 5,160 — — 5,160 Total nonrecurring assets 19,830 — — 19,830 Total recurring and nonrecurring assets $ 36,805 $ 16,975 $ — $ 19,830 July 31, 2014 Fair value measurements using Total Level 1 Level 2 Level 3 Assets: Nonrecurring: Impaired accounts and notes receivable $ 6,217 $ — $ — $ 6,217 Total recurring and nonrecurring assets $ 6,217 $ — $ — $ 6,217 The Company’s policy is to recognize transfers between levels of the fair value hierarchy on the date of the event or change in circumstances that caused the transfer. There were no transfers into or out of level 1 or 2 requiring fair value measurements for each of the three months ended July 31, 2015 and 2014. The following methods and assumptions are used to estimate the fair value of our financial instruments. Cash equivalents: The carrying amounts approximate fair value because of the short maturity of these instruments. Cash equivalent financial instruments consist of money market accounts. Impaired accounts and notes receivable: Accounts and notes receivable are considered to be impaired if the net amounts due exceed the fair value of the underlying franchise or if management considers it probable that all principal and interest will not be collected when contractually due. In establishing the estimated fair value of the underlying franchise, consideration is given to recent sales between franchisees, the net fees of open offices, and the number of unopened offices. Impaired goodwill, reacquired rights, and customer lists: Goodwill, reacquired rights and customer lists associated with a Company-owned office are considered to be impaired if the net carrying amount exceeds the fair value of the underlying office. In establishing the fair value of the underlying office, consideration is given to the related net fees and marketplace transactions. Assets held for sale: Assets held for sale are recorded at the lower of the carrying value or the sales price, less costs to sell, which approximates fair value. The sales price is calculated as a percentage of prior year net fees and marketplace transactions. Impaired online software and acquired online customer lists: The online software and acquired online customer lists are considered to be impaired if the net carrying amount of these assets exceeds the fair value of these assets. The fair value of these assets was determined using a discounted cash flow model. Other Fair Value Measurements Additionally, accounting standards require the disclosure of the estimated fair value of financial instruments that are not recorded at fair value. For the financial instruments that the Company does not record at fair value, estimates of fair value are made at a point in time based on relevant market data and information about the financial instrument. No readily available market exists for a significant portion of the Company's financial instruments. Fair value estimates for these instruments are based on current economic conditions, interest rate risk characteristics, and other factors. Many of these estimates involve uncertainties and matters of significant judgment and cannot be determined with precision. Therefore, the calculated fair value estimates in many instances cannot be substantiated by comparison to independent markets and, in many cases, may not be realizable in a current sale of the instrument. In addition, changes in assumptions could significantly affect these fair value estimates. The following methods and assumptions were used by the Company in estimating fair value of these financial instruments. Receivables other than notes, other current assets, accounts payable, and accrued expenses, and due to ADs: The carrying amounts approximate fair value because of the short maturity of these instruments. Notes receivable: The carrying amount approximates fair value because the interest rate charged by the Company on these notes approximates rates currently offered by local lending institutions for loans of similar terms to individuals/entities with comparable credit risk (Level 3). Long-term debt: The carrying amount approximates fair value because the interest rate paid has a variable component (Level 2).

Related Party Transactions

Related Party Transactions	3 Months Ended
	Jul. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Company considers directors and their affiliated companies as well as executive officers and members of their immediate family to be related parties. Although the Company did not have any stock transactions with related parties during the three months ended July 31, 2015, during the three months ended July 31, 2014 the Company repurchased 880,248 shares of stock for a value of $22.3 million from related parties. The Company has entered into a multi-year contract to purchase a license for the use of Canadian tax software at a price of $0.7 million from a company in which it has an investment accounted for under the equity method. One of the members of the Company's Board of Directors is affiliated with the company providing this service. The Company has entered into an agreement to purchase the right to distribute cloud and mobile accounting solutions to its franchisees. Payments of $250 thousand were paid for this service during fiscal 2015 and $32 thousand during the first quarter of 2016. One of the members of the Company's Board of Directors is affiliated with the company providing this service.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Jul. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies In the ordinary course of operations, the Company may become a party to legal proceedings. Based upon information currently available, management believes that such legal proceedings, in the aggregate, will not have a material adverse effect on the Company's business, financial condition, cash flows, or results of operations except as provided below. ERC class action litigation. The Company was sued in November 2011 in federal courts in Arkansas, California, Florida, and Illinois, and additional lawsuits were filed in federal courts in January 2012 in Maryland and North Carolina, in February 2012 in Wisconsin, and in May 2012 in New York and Minnesota. In April 2012, a motion to consolidate all of the then-pending cases before a single judge in federal court in the Northern District of Illinois was granted, and in June 2012, the plaintiffs filed a new complaint in the consolidated action. The consolidated complaint alleges that the Company's refund transfer products formerly called electronic refund checks ("ERC") represent a form of refund anticipation loan ("RAL") because the taxpayer is "loaned" the tax preparation fee, and that the refund transfer product is, therefore, subject to federal truth-in-lending disclosure and state law requirements regulating RALs. The plaintiffs also allege disclosure violations related to the ERC fees paid by RAL customers. The plaintiffs, therefore, claim violations of state-specific RAL and other consumer statutes. The lawsuit purports to be a class action, and the plaintiffs allege potential damages in excess of $5.0 million . The Company appealed to the United States Court of Appeals for the Seventh Circuit a ruling that certain of the plaintiffs’ claims were not subject to arbitration. Following mediation, the parties entered into a settlement agreement in June 2015 pursuant to which the Company will establish a settlement fund of $5.3 million , inclusive of settlement administration costs and plaintiffs’ counsel fees. The parties are in the process of seeking the approval of the trial court, which must approve the settlement. The Company has preserved potential claims against a financial product partner that was responsible for the design of a portion of the ERC programs in the years at issue in the cases. The Company previously accrued the proposed settlement amount during fiscal 2015. TCPA class action litigation. The Company was sued in September 2013 in federal court in Illinois in connection with alleged violations of the Telephone Consumer Protection Act. Plaintiff alleges that the Company inappropriately made auto dialed telephone calls to cellular telephones, seeks the certification of a nationwide class action, and claims statutory damages of $500 - $1,500 per violation. The Company tendered the defense of this litigation to a third party entity that had contracted with us to solicit potential franchisees, and that third party entity acknowledged its defense and indemnification obligations to the Company. However, because the third party did not have the financial resources to satisfy its defense and indemnity obligations, the Company concluded that it could not rely upon the fulfillment of those obligations. In September 2014, the Company and the plaintiffs reached a tentative settlement of this litigation pursuant to which the Company will establish a settlement fund of $3.0 million , inclusive of settlement administration costs and plaintiffs’ counsel fees. This settlement has received the preliminary approval of the court and notices to class members have been sent, but the settlement remains subject to other conditions typical in a class action. The Company previously accrued the proposed settlement amount during fiscal 2015. The Company is also party to claims and lawsuits that are considered to be ordinary, routine litigation incidental to the business, including claims and lawsuits concerning the preparation of customers' income tax returns, the fees charged to customers for various products and services, relationships with franchisees, intellectual property disputes, employment matters, and contract disputes. Although the Company cannot provide assurance that it will ultimately prevail in each instance, it believes the amount, if any, it will be required to pay in the discharge of liabilities or settlements in these claims will not have a material adverse impact on it's consolidated results of operations or financial position.

Organization and Significant 18

Organization and Significant Accounting Policies (Policies)	3 Months Ended
	Jul. 31, 2015
Accounting Policies [Abstract]
Organization	Description of Business Liberty Tax, Inc. (the "Company"), a Delaware corporation, is a holding company engaged through its subsidiaries as a franchisor and, to a lesser degree, an operator of a system of income tax preparation offices located in the United States and Canada. The Company's principal operations are conducted through JTH Tax, Inc. (d/b/a Liberty Tax Service), the Company's largest subsidiary. Through this system of income tax preparation offices, the Company also facilitates refund-based tax settlement financial products, such as refund transfer products in the United States and personal income tax refund discounting in Canada. The Company also offers online tax preparation services. Effective July 15, 2014, the Company changed its name from JTH Holding, Inc. to Liberty Tax, Inc. The Company provides a substantial amount of lending to its franchisees and ADs. The Company allows franchisees and ADs to defer a portion of the franchise fee and AD fee, which are paid over time. The Company also offers its franchisees working capital loans to fund their operations between tax seasons. The Company’s operating revenues are seasonal in nature, with peak revenues occurring in the months of January through April. Therefore, results for interim periods are not indicative of results to be expected for the full year. Unless the context requires otherwise, the terms "Liberty Tax," "Liberty Tax Service," "we," "the Company," "us," and "our" refer to Liberty Tax, Inc. and its consolidated subsidiaries.
Principles of Consolidation and Unaudited Financial Statements	Basis of Presentation The condensed consolidated financial statements include the accounts of Liberty Tax, Inc. and its wholly-owned subsidiaries. Assets and liabilities of the Company's Canadian operations have been translated into U.S. dollars using the exchange rate in effect at the end of the period. Revenues and expenses have been translated using the average exchange rates in effect each month of the period. Foreign exchange transaction gains and losses are recognized when incurred. The Company consolidates any entities in which it has a controlling interest, the usual condition of which is ownership of a majority voting interest. The Company also considers for consolidation an entity in which the Company has certain interests where a controlling financial interest may be achieved through arrangements that do not involve voting interests. Such an entity, known as a variable interest entity ("VIE"), is required to be consolidated by its primary beneficiary. The Company does not possess any ownership interests in franchisee entities; however, the Company may provide financial support to franchisee entities. Because the Company's franchise arrangements provide franchisee entities the power to direct the activities that most significantly impact their economic performance, the Company does not consider itself the primary beneficiary of any such entity that might be a VIE. Based on the results of management's analysis of potential VIEs, the Company has not consolidated any franchisee entities. The Company's maximum exposure to loss resulting from involvement with potential VIEs is attributable to accounts and notes receivables and future lease payments due from franchisees. When the Company does not have a controlling interest in an entity but exerts significant influence over the entity, the Company applies the equity method of accounting. All intercompany balances and transactions have been eliminated in consolidation. The unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial information. The condensed consolidated financial statements, including these notes, are unaudited and exclude some of the disclosures only required in annual financial statements. Consolidated balance sheet data as of April 30, 2015 was derived from the Company’s April 30, 2015 Annual Report on Form 10-K filed on July 1, 2015. In the opinion of management, all adjustments necessary for a fair presentation of such financial statements in accordance with GAAP have been recorded. These adjustments consisted only of normal recurring items. The accompanying consolidated financial statements should be read in conjunction with the Company’s financial statements and notes thereto included in its April 30, 2015 Annual Report on Form 10-K filed on July 1, 2015.
Office Count	Office Count The Company will report this information for the quarter ended January 31, 2016 once all offices have been opened.
Use of Estimates	Use of Estimates Management has made a number of estimates and assumptions relating to the reporting of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period, to prepare these condensed consolidated financial statements and accompanying notes in conformity with GAAP. Actual results could differ from those estimates.
New Accounting Pronouncements, Policy	Accounting Pronouncements
Foreign Operations	Foreign Operations Canadian operations contributed $1.0 million and $0.8 million in revenues for the three months ended July 31, 2015 and 2014 , respectively.

Notes and Accounts Receivable (

Notes and Accounts Receivable (Tables)	3 Months Ended
	Jul. 31, 2015
Receivables [Abstract]
Schedule of activity related to notes receivable	Notes and interest receivable, net of unrecognized revenue, as of July 31, 2015 , April 30, 2015 and July 31, 2014 are presented in the consolidated balance sheets as follows: July 31, 2015 April 30, 2015 July 31, 2014 (In thousands) Notes receivable - current $ 35,214 $ 24,465 $ 32,861 Notes receivable - non-current 23,079 22,416 16,996 Interest, net of uncollectible amounts 1,934 1,033 1,394 Total notes and interest receivable, net $ 60,227 $ 47,914 $ 51,251
Schedule of activity in the allowance for doubtful accounts	Activity in the allowance for doubtful accounts for the three months ended July 31, 2015 and 2014 was as follows: Three Months Ended 2015 2014 (In thousands) Balance at beginning of period $ 7,355 $ 6,850 Provision for doubtful accounts 1,701 1,456 Write-offs (829 ) (1,212 ) Foreign currency adjustment (86 ) 11 Balance at end of period $ 8,141 $ 7,105
Allowance for Doubtful Accounts
Schedule of allocation of allowance for doubtful accounts	The allowance for doubtful accounts at July 31, 2015 , April 30, 2015 and July 31, 2014 , was allocated as follows: July 31, 2015 April 30, 2015 July 31, 2014 (In thousands) Impaired: Notes and interest receivable, net of unrecognized revenue $ 10,633 $ 10,921 $ 7,064 Accounts receivable 6,699 7,634 4,578 Less amounts due to ADs and franchisees (1,304 ) (1,535 ) (819 ) Amounts receivable less amounts due to ADs and franchisees $ 16,028 $ 17,020 $ 10,823 Allowance for doubtful accounts for impaired notes and accounts receivable $ 6,616 $ 6,594 $ 5,425 Non-impaired: Notes and interest receivable,net of unrecognized revenue $ 49,594 $ 36,993 $ 44,187 Accounts receivable 26,761 38,487 26,159 Less amounts due to ADs and franchisees (8,795 ) (25,150 ) (9,244 ) Amounts receivable less amounts due to ADs and franchisees $ 67,560 $ 50,330 $ 61,102 Allowance for doubtful accounts for non-impaired notes and accounts receivable $ 1,525 $ 761 $ 1,680 Total: Notes and interest receivable, net of unrecognized revenue $ 60,227 $ 47,914 $ 51,251 Accounts receivable 33,460 46,121 30,737 Less amounts due to ADs and franchisees (10,099 ) (26,685 ) (10,063 ) Amounts receivable less amounts due to ADs and franchisees $ 83,588 $ 67,350 $ 71,925 Total allowance for doubtful accounts $ 8,141 $ 7,355 $ 7,105
Schedule of aging of accounts and notes receivable	The breakdown of accounts and notes receivable past due at July 31, 2015 was as follows: Past due Allowance for uncollectible interest Current Total receivables (In thousands) Accounts receivable $ 32,315 $ (1,134 ) $ 2,279 $ 33,460 Notes and interest receivable, net of unrecognized revenue 9,713 (1,242 ) 51,756 60,227 Total accounts, notes and interest receivable $ 42,028 $ (2,376 ) $ 54,035 $ 93,687

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Jul. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Changes in the carrying amount of goodwill for the three months ended July 31, 2015 and 2014 were as follows: July 31, 2015 July 31, 2014 (In thousands) Balance at beginning of period $ 3,377 $ 2,997 Acquisitions of assets from franchisees — — Disposals and foreign currency changes, net (94 ) 12 Impairments — — Balance at end of period $ 3,283 $ 3,009
Schedule of the amortizable other intangible assets	Components of intangible assets were as follows as of July 31, 2015 , April 30, 2015 and July 31, 2014 : July 31, 2015 Weighted average amortization period Gross carrying amount Accumulated amortization Net carrying amount (In thousands) Amortizable intangible assets: Customer lists acquired from unrelated third parties 4 years $ 1,027 $ (85 ) $ 942 Assets acquired from franchisees: Customer lists 4 years 707 (513 ) 194 Reacquired rights 2 years 518 (438 ) 80 AD rights 10 years 16,505 (4,382 ) 12,123 Total intangible assets $ 18,757 $ (5,418 ) $ 13,339 April 30, 2015 Weighted average amortization period Gross carrying amount Accumulated amortization Net carrying amount (In thousands) Amortizable intangible assets: Customer lists acquired from unrelated third parties 4 years $ 1,027 $ — $ 1,027 Assets acquired from franchisees: Customer lists 4 years 759 (441 ) 318 Reacquired rights 2 years 559 (473 ) 86 AD rights 10 years 17,345 (4,104 ) 13,241 Total intangible assets $ 19,690 $ (5,018 ) $ 14,672 July 31, 2014 Weighted average amortization period Gross carrying amount Accumulated amortization Net carrying amount (In thousands) Amortizable intangible assets: Customer lists acquired from unrelated third parties 6 years $ 4,816 $ (1,356 ) $ 3,460 Assets acquired from franchisees: Customer lists 4 years 677 (442 ) 235 Reacquired rights 2 years 601 (392 ) 209 AD rights 10 years 12,419 (3,537 ) 8,882 Total intangible assets $ 18,513 $ (5,727 ) $ 12,786
Purchase Price of Assets Acquired from Franchisees	The purchase price of assets acquired from franchisees during the three months ended July 31, 2015 and 2014 was allocated as follows: Three Months Ended July 31, 2015 2014 (In thousands) Customer lists and reacquired rights $ 10 $ 235 Goodwill — — Total $ 10 $ 235

Assets Held For Sale (Tables)

Assets Held For Sale (Tables)	3 Months Ended
	Jul. 31, 2015
Assets Held For Sale Disclosure [Abstract]
Rollforward of Assets Held for Sale	Changes in the carrying amount of assets held for sale for the three months ended July 31, 2015 and 2014 were as follows: Three Months Ended July 31, 2015 2014 (In thousands) Balance at beginning of period $ 5,160 $ 4,413 Reacquired 2,001 1,682 Dispositions (804 ) (670 ) Balance at end of period $ 6,357 $ 5,425

Debt (Tables)

Debt (Tables)	3 Months Ended
	Jul. 31, 2015
Debt Disclosure [Abstract]
Schedule of debt	Debt at July 31, 2015 , April 30, 2015 , and July 31, 2014 consisted of the following: July 31, 2015 April 30, 2015 July 31, 2014 (In thousands) Credit Facility: Revolver $ 16,556 $ — $ 13,822 Term loan 20,187 20,453 21,250 36,743 20,453 35,072 Amounts due to former ADs and mortgages 2,629 4,944 2,895 39,372 25,397 37,967 Less: current portion (1,958 ) (3,934 ) (3,042 ) Long-term debt $ 37,414 $ 21,463 $ 34,925

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Jul. 31, 2015
Equity [Abstract]
Schedule of activity in stockholders' equity	During the three months ended July 31, 2015 and 2014 , activity in stockholders’ equity was as follows: Three Months Ended July 31, 2015 2014 (in thousands, except for share amounts) Class A common shares issued from the exercise of stock options 17,710 283,115 Class A common shares issued from the vesting of restricted stock and as Board of Directors compensation 5,324 — Proceeds from exercise of stock options $ 279 $ 4,543 Stock-based compensation expense $ 465 $ 687 Class A common shares repurchased 51,609 881,172 Payments for repurchased shares $ 1,272 $ 22,620 Tax benefit of stock option exercises $ 495 $ 3,509 Dividends paid $ 2,212 $ —
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	ccumulated other comprehensive income (loss) consists of foreign currency adjustments of $(1.5) million , $(0.7) million and $0.2 million at July 31, 2015 , April 30, 2015 and July 31, 2014 , respectively.
Schedule of computation of basic and diluted net income (loss) per share	The computation of basic and diluted net loss per share for the three months ended July 31, 2015 and 2014 is as follows: Three Months Ended Class A Class B Common Stock Common Stock (in thousands, except for share and per Basic and diluted net loss per share: Numerator Allocation of undistributed losses $ (7,936 ) $ (600 ) Denominator Weighted-average common shares outstanding 11,911,621 900,000 Basic and diluted net loss per share $ (0.67 ) $ (0.67 ) Three Months Ended Class A Class B Common Stock Common Stock (in thousands, except for share and per share amounts) Basic and diluted net loss per share: Numerator Allocation of undistributed losses $ (8,039 ) $ (605 ) Denominator Weighted-average common shares outstanding 11,967,273 900,000 Basic and diluted net loss per share $ (0.67 ) $ (0.67 )

Stock Compensation Plans (Table

Stock Compensation Plans (Tables)	3 Months Ended
	Jul. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of information about stock options outstanding and exercisable	The following table summarizes information about stock options outstanding and exercisable at July 31, 2015 : Options Outstanding Options Exercisable Range of exercise prices Number of shares outstanding Weighted average exercise price Weighted average remaining contractual life (in years) Number of options exercisable Weighted average exercise price $10.50 $ 12,500 $ 10.50 0.7 12,500 $ 10.50 15.00 621,207 15.00 2.2 621,207 15.00 16.38 - 19.75 273,236 17.91 4.3 198,236 17.85 26.18 - 29.48 205,000 26.66 6.4 35,000 26.18 33.38 - 33.79 90,416 33.49 6.3 25,000 33.79 1,202,359 18.99 891,943 16.54
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	Restricted stock activity during the three months ended July 31, 2015 was as follows: Number of RSUs Weighted average fair value at grant date Balance at beginning of period 28,929 $ 30.63 Granted — — Vested (4,678 ) 17.95 Forfeited (1,883 ) 29.51 Balance at end of period 22,368 33.38
Schedule of stock option activity	Stock option activity during the three months ended July 31, 2015 was as follows: Number of options Weighted average exercise price Balance at beginning of period 1,343,559 $ 19.28 Granted — — Exercised (17,710 ) 15.73 Expired or forfeited (123,490 ) 22.61 Balance at end of period 1,202,359 18.99
Schedule of nonvested (options that did not vest in the period in which granted) stock option activity	Nonvested stock options (options that had not vested in the period reported) activity during the three months ended July 31, 2015 was as follows: Nonvested options Weighted average exercise price Balance at beginning of period 385,416 $ 27.56 Granted — — Vested (25,000 ) 33.79 Forfeited (50,000 ) 33.79 Balance at end of period 310,416 26.06

Fair Value of Financial Instr25

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Jul. 31, 2015
Fair Value Disclosures [Abstract]
Schedule of the assets and liabilities that are measured at fair value on a recurring and nonrecurring basis, for each of the fair value hierarchy levels	t July 31, 2015 , April 30, 2015 and July 31, 2014 , for each of the fair value hierarchy levels, the assets and liabilities that are measured at fair value on a recurring and nonrecurring basis (in thousands): July 31, 2015 Fair value measurements using Total Level 1 Level 2 Level 3 Assets: Nonrecurring: Impaired accounts and notes receivable $ 13,728 $ — $ — $ 13,728 Total recurring and nonrecurring assets $ 13,728 $ — $ — $ 13,728 April 30, 2015 Fair value measurements using Total Level 1 Level 2 Level 3 Assets: Recurring: Cash equivalents $ 16,975 $ 16,975 $ — $ — Nonrecurring: Impaired accounts and notes receivable 11,961 — — 11,961 Impaired online software 1,253 — — 1,253 Impaired acquired online customer lists 1,027 — — 1,027 Impaired goodwill 224 — — 224 Impaired reacquired rights 79 — — 79 Impaired customer lists 126 — — 126 Assets held for sale 5,160 — — 5,160 Total nonrecurring assets 19,830 — — 19,830 Total recurring and nonrecurring assets $ 36,805 $ 16,975 $ — $ 19,830

Organization and Significant 26

Organization and Significant Accounting Policies (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2015	Jul. 31, 2014
Geographical concentration
Revenues	$ 7,523	$ 7,839
CANADA
Geographical concentration
Revenues	$ 1,014	$ 788

Accounts and Notes Receivables

Accounts and Notes Receivables - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jul. 31, 2015	Apr. 30, 2014	Apr. 30, 2013	Apr. 30, 2015	Jul. 31, 2014
Schedule of Activity Related to Notes Receivable
Notes, Loans and Financing Receivable, Gross, Current	$ 35,214			$ 24,465	$ 32,861
Notes, Loans and Financing Receivable, Gross, Noncurrent	23,079			22,416	16,996
Interest Receivable, Current	1,934			1,033	1,394
Notes receivable, net of unrecognized revenue:	60,227			47,914	51,251
Activity related to notes receivable
Amounts payable to area developers for their share of receivables	9,403			24,340	9,207
Developer rights term		6 years	10 years
Unrecognized Revenue	38,700			$ 38,600	$ 39,100
Accounts and Notes Receivable, Unfunded Lending Commitments for Working Capital Loans to Franchisees and Area Developers	$ 23,700
Franchise-related notes
Activity related to notes receivable
Notes Receivable	5 years
Interest rate (as a percent)	12.00%
Working capital and equipment notes
Activity related to notes receivable
Notes Receivable	1 year

Accounts and Notes Receivable A

Accounts and Notes Receivable Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2015	Jul. 31, 2014	Apr. 30, 2015	Apr. 30, 2014
Financing Receivable, Allowance for Credit Losses [Line Items]
Unrecognized Revenue	$ 38,700	$ 39,100	$ 38,600
Impaired Financing Receivable, Average Recorded Investment	10,800	7,800
Accounts and Notes Receivable, Allowance for Uncollected Interest Amounts Due ADs Related Deferred Revenue and Amounts Due Franchisees	10,099	10,063	26,685
Accounts and Notes Receivable, Net	83,588	71,925	67,350
Allowance for Doubtful Accounts Receivable Additions Charged to Expenses	1,701	1,456
Allowance for Doubtful Accounts Receivable, Write-offs	(829)	(1,212)
Allowance for Doubtful Accounts Receivable Foreign Currency Adjustment	(86)	11
Allowance for Doubtful Accounts Receivable	8,141	7,105	7,355	$ 6,850
Accounts and Notes Receivable, Unfunded Lending Commitments for Working Capital Loans to Franchisees and Area Developers	23,700
Impaired Accounts Notes Loans and Financing Receivable [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Accounts and Notes Receivable, Allowance for Uncollected Interest Amounts Due ADs Related Deferred Revenue and Amounts Due Franchisees	1,304	819	1,535
Accounts and Notes Receivable, Net	16,028	10,823	17,020
Allowance for Doubtful Accounts Receivable, Current	6,616	5,425	6,594
Nonimpaired Accounts Notes Loans and Financing Receivable [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Accounts and Notes Receivable, Allowance for Uncollected Interest Amounts Due ADs Related Deferred Revenue and Amounts Due Franchisees	8,795	9,244	25,150
Accounts and Notes Receivable, Net	67,560	61,102	50,330
Allowance for Doubtful Accounts Receivable, Current	1,525	1,680	761
Notes Receivable [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Accounts and Notes Receivable Gross	60,227	51,251	47,914
Notes Receivable [Member] | Impaired Accounts Notes Loans and Financing Receivable [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Accounts and Notes Receivable Gross	10,633	7,064	10,921
Notes Receivable [Member] | Nonimpaired Accounts Notes Loans and Financing Receivable [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Accounts and Notes Receivable Gross	49,594	44,187	36,993
Trade Accounts Receivable [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Accounts and Notes Receivable Gross	33,460	30,737	46,121
Trade Accounts Receivable [Member] | Impaired Accounts Notes Loans and Financing Receivable [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Accounts and Notes Receivable Gross	6,699	4,578	7,634
Trade Accounts Receivable [Member] | Nonimpaired Accounts Notes Loans and Financing Receivable [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Accounts and Notes Receivable Gross	$ 26,761	$ 26,159	$ 38,487

Analysis of Past Due Receivable

Analysis of Past Due Receivables - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2015	Apr. 30, 2015	Jul. 31, 2014
Aging of accounts and notes receivable
Past due	$ 42,028
Allowance for uncollectible interest	(2,376)
Current	54,035
Total receivables	93,687
Accounts receivable
Aging of accounts and notes receivable
Past due	32,315
Allowance for uncollectible interest	(1,134)
Current	2,279
Total receivables	$ 33,460
Past due period	30 days
Notes receivable
Aging of accounts and notes receivable
Past due	$ 9,713
Allowance for uncollectible interest	(1,242)
Current	51,756
Total receivables	$ 60,227
Past due period	90 days
Financing Receivable, Recorded Investment, Nonaccrual Status	$ 8,470	$ 9,327	$ 8,400

Changes in the Carrying Amount

Changes in the Carrying Amount of Goodwill - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2015	Jul. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Acquisitions of assets from franchisees	$ 0	$ 0
Goodwill, Disposals and foreign currency changes, net	94	12
Goodwill Impairments, Gross	0	0
Goodwill, Balance at End of Period	$ 3,283	$ 3,009

Components of Intangible Assets

Components of Intangible Assets - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Jul. 31, 2015	Jul. 31, 2014	Apr. 30, 2015
Amortizable other intangible assets:
Gross carrying amount	$ 18,757	$ 18,513	$ 19,690
Accumulated amortization	(5,418)	(5,727)	(5,018)
Net carrying amount	$ 13,339	$ 12,786	$ 14,672
Acquired customer lists
Amortizable other intangible assets:
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	4 years	6 years	4 years
Gross carrying amount	$ 1,027	$ 4,816	$ 1,027
Accumulated amortization	(85)	(1,356)	0
Net carrying amount	$ 942	$ 3,460	$ 1,027
Customer lists
Amortizable other intangible assets:
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	4 years	4 years	4 years
Gross carrying amount	$ 707	$ 677	$ 759
Accumulated amortization	(513)	(442)	(441)
Net carrying amount	$ 194	$ 235	$ 318
Reacquired rights
Amortizable other intangible assets:
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	2 years	2 years	2 years
Gross carrying amount	$ 518	$ 601	$ 559
Accumulated amortization	(438)	(392)	(473)
Net carrying amount	$ 80	$ 209	$ 86
Area developer rights
Amortizable other intangible assets:
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	10 years	10 years	10 years
Gross carrying amount	$ 16,505	$ 12,419	$ 17,345
Accumulated amortization	(4,382)	(3,537)	(4,104)
Net carrying amount	$ 12,123	8,882	$ 13,241
Assets Held-for-sale [Member]
Amortizable other intangible assets:
Net carrying amount		$ 12,786

Purchase Price of Assets Acquir

Purchase Price of Assets Acquired from Franchisees - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2015	Jul. 31, 2014
Goodwill [Line Items]
Finite-lived Intangible Assets Acquired	$ 200
CANADA
Goodwill [Line Items]
Finite-lived Intangible Assets Acquired	10	$ 235
CANADA | Customer Lists and Reacquired Rights [Member]
Goodwill [Line Items]
Finite-lived Intangible Assets Acquired	10	235
CANADA | Goodwill
Goodwill [Line Items]
Finite-lived Intangible Assets Acquired	$ 0	$ 0

Goodwill and Intangible Asset33

Goodwill and Intangible Assets Goodwill and Intangible Assets (Textuals) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2015	Jul. 31, 2014
Goodwill [Line Items]
Finite-lived Intangible Assets Acquired	$ 200
CANADA
Goodwill [Line Items]
Finite-lived Intangible Assets Acquired	$ 10	$ 235

Assets Held For Sale Narrative

Assets Held For Sale Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2015	Jul. 31, 2014
Finite-lived Intangible Assets Acquired	$ 200
UNITED STATES
Finite-lived Intangible Assets Acquired	2,001	$ 1,682
Customer Lists and Reacquired Rights [Member] | UNITED STATES
Finite-lived Intangible Assets Acquired	900	900
Goodwill [Member] | UNITED STATES
Finite-lived Intangible Assets Acquired	$ 1,100	$ 800

Assets Held For Sale Carrying A

Assets Held For Sale Carrying Amount of Assets HFS (table) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2015	Jul. 31, 2014	Apr. 30, 2015	Apr. 30, 2014
Property, Plant and Equipment [Line Items]
Assets Held for Sale	$ 6,357	$ 5,425	$ 5,160	$ 4,413
Finite-lived Intangible Assets Acquired	200
finite-lived intangible assets disposed	(804)	(670)
UNITED STATES
Property, Plant and Equipment [Line Items]
Finite-lived Intangible Assets Acquired	$ 2,001	$ 1,682

Debt (Details)

Debt (Details)	3 Months Ended
	Jul. 31, 2015USD ($)	Apr. 30, 2015USD ($)	Jul. 31, 2014USD ($)
Credit facility
Total debt	$ 39,372,000	$ 25,397,000	$ 37,967,000
Less: current portion	(1,958,000)	(3,934,000)	(3,042,000)
Long-term debt	$ 37,414,000	21,463,000	34,925,000
Days to Have Zero Debt	45
Revolver
Credit facility
Maximum borrowing capacity	$ 203,800,000
Line of credit facility, increased availability	50,000,000
Total debt	$ 16,556,000	0	13,822,000
Outstanding Balance	zero
Term loan
Credit facility
Maximum borrowing capacity	$ 21,200,000
Total debt	$ 20,187,000	20,453,000	$ 21,250,000
Credit facility
Credit facility
Interest rate (as a percent)	1.81%		1.78%
Total debt	$ 36,743,000	20,453,000	$ 35,072,000
Line of Credit Facility, Average Interest Rate Paid	1.81%		1.78%
Credit facility | Minimum | one-month London Inter-Bank Offered Rate (LIBOR)
Credit facility
Interest rate margin (as a percent)	1.50%
Credit facility | Maximum | one-month London Inter-Bank Offered Rate (LIBOR)
Credit facility
Interest rate margin (as a percent)	2.25%
Other debt
Credit facility
Total debt	$ 2,629,000	$ 4,944,000	$ 2,895,000

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Jul. 31, 2015	Jul. 31, 2014	Apr. 30, 2015
Stockholders' Equity
Proceeds from the exercise of stock options	$ 279	$ 4,543
Stock-based compensation expense	465	687
Payments for repurchased shares	1,272	22,620
Tax benefit of stock option exercises	495	3,509
Payments of Ordinary Dividends	2,212	0
Accumulated Other Comprehensive Income (Loss), Net of Tax	(1,455)	184	$ (697)
Net loss	$ (8,536)	$ (8,644)
Weighted-average shares outstanding basic and diluted	12,811,621	12,867,273
Earnings Per Share, Basic and Diluted	$ (0.67)	$ (0.67)
Antidilutive securities
Impact of shares of common stock from the exercise of options excluded from computation of diluted net income per share because the effect would be antidilutive	983,768	1,238,655
Class A common stock
Stockholders' Equity
Class A common shares issued from the exercise of stock options	18,000	283,000
Class A common shares issued from the vesting of restricted stock	5,000	0
Class A common shares repurchased	52,000	881,000
Net loss	$ (7,936)	$ (8,039)
Weighted-average shares outstanding basic and diluted	11,911,621	11,967,273
Earnings Per Share, Basic and Diluted	$ (0.67)	$ (0.67)
Class B common stock
Stockholders' Equity
Net loss	$ (600)	$ (605)
Weighted-average shares outstanding basic and diluted	900,000	900,000
Earnings Per Share, Basic and Diluted	$ (0.67)	$ (0.67)

Stock Compensation Plans (Detai

Stock Compensation Plans (Details) - Jul. 31, 2015 - USD ($)	Total
Stock Option
Stock compensation plan
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price	$ 16.54
Total intrinsic value of options exercised	$ 143,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	9,487,322
Unrecognized compensation costs	$ 2,000,000
Stock option activity, Number of options
Outstanding at the beginning of the period (in shares)	1,343,559
Granted (in shares)	0
Exercised (in shares)	(17,710)
Canceled (in shares)	(123,490)
Outstanding at the end of the period (in shares)	1,202,359
Stock option activity, Weighted average exercise price
Outstanding at the beginning of the period (in dollars per share)	$ 19.28
Granted (in dollars per share)	0
Exercised (in dollars per share)	15.73
Canceled (in dollars per share)	22.61
Outstanding at the end of the period (in dollars per share)	$ 18.99
Nonvested stock option activity, Nonvested options
Outstanding at the beginning of the period (in shares)	385,416
Granted (in shares)	0
Vested (in shares)	(25,000)
Canceled (in shares)	(50,000)
Outstanding at the end of the period (in shares)	310,416
Nonvested stock option activity, Weighted average exercise price
Outstanding at the beginning of the period (in dollars per share)	$ 27.56
Granted (in dollars per share)	0
Vested (in dollars per share)	33.79
Canceled (in dollars per share)	33.79
Outstanding at the end of the period (in dollars per share)	$ 26.06
Stock Option | Minimum
Stock compensation plan
Vesting period	6 months
Exercise period	4 years
Stock Option | Maximum
Stock compensation plan
Vesting period	5 years
Exercise period	5 years
Restricted Stock Units
Stock compensation plan
Unrecognized compensation costs	$ 500,000
2011 Equity and Cash Incentive Plan
Stock compensation plan
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	2,500,000
Class A common stock available for grant (in shares)	1,584,129

Stock Compensation Plans (Det39

Stock Compensation Plans (Details 2) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Jul. 31, 2015	Apr. 30, 2015
Employee Stock Option [Member]
Stock options outstanding and exercisable
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 2
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	1,202,359	1,343,559
Weighted average exercise price (in dollars per share)	$ 18.99
Number of shares exercisable at the end of the period	891,943
Weighted average exercise price (in dollars per share)	$ 16.54
Employee Stock Option [Member] | $10.50
Stock options outstanding and exercisable
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	12,500
Weighted average exercise price (in dollars per share)	$ 10.50
Weighted average remaining contractual life	8 months
Number of shares exercisable at the end of the period	12,500
Weighted average exercise price (in dollars per share)	$ 10.50
Employee Stock Option [Member] | $14.00-$16.50
Stock options outstanding and exercisable
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	621,207
Weighted average exercise price (in dollars per share)	$ 15
Weighted average remaining contractual life	2 years 2 months
Number of shares exercisable at the end of the period	621,207
Weighted average exercise price (in dollars per share)	$ 15
Employee Stock Option [Member] | $15.00
Stock options outstanding and exercisable
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	273,236
Weighted average exercise price (in dollars per share)	$ 17.91
Weighted average remaining contractual life	4 years 4 months
Number of shares exercisable at the end of the period	198,236
Weighted average exercise price (in dollars per share)	$ 17.85
Employee Stock Option [Member] | $16.38
Stock options outstanding and exercisable
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	205,000
Weighted average exercise price (in dollars per share)	$ 26.66
Weighted average remaining contractual life	6 years 5 months
Number of shares exercisable at the end of the period	35,000
Weighted average exercise price (in dollars per share)	$ 26.18
Employee Stock Option [Member] | $17.95-$19.75
Stock options outstanding and exercisable
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	90,416
Weighted average exercise price (in dollars per share)	$ 33.49
Weighted average remaining contractual life	6 years 4 months
Number of shares exercisable at the end of the period	25,000
Weighted average exercise price (in dollars per share)	$ 33.79
Restricted Stock Units
Stock options outstanding and exercisable
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 0.5
Minimum | Employee Stock Option [Member]
Stock options outstanding and exercisable
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	4 years
Minimum | Employee Stock Option [Member] | $10.50
Stock options outstanding and exercisable
Exercise price, low end of range (in dollars per share)	$ 10.50
Minimum | Employee Stock Option [Member] | $14.00-$16.50
Stock options outstanding and exercisable
Exercise price, low end of range (in dollars per share)	15
Minimum | Employee Stock Option [Member] | $15.00
Stock options outstanding and exercisable
Exercise price, low end of range (in dollars per share)	16.38
Minimum | Employee Stock Option [Member] | $16.38
Stock options outstanding and exercisable
Exercise price, low end of range (in dollars per share)	26.18
Minimum | Employee Stock Option [Member] | $17.95-$19.75
Stock options outstanding and exercisable
Exercise price, low end of range (in dollars per share)	$ 33.38
Maximum | Employee Stock Option [Member]
Stock options outstanding and exercisable
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	5 years
Maximum | Employee Stock Option [Member] | $10.50
Stock options outstanding and exercisable
Exercise price, high end of range (in dollars per share)	$ 10.50
Maximum | Employee Stock Option [Member] | $14.00-$16.50
Stock options outstanding and exercisable
Exercise price, high end of range (in dollars per share)	15
Maximum | Employee Stock Option [Member] | $15.00
Stock options outstanding and exercisable
Exercise price, high end of range (in dollars per share)	19.75
Maximum | Employee Stock Option [Member] | $16.38
Stock options outstanding and exercisable
Exercise price, high end of range (in dollars per share)	29.48
Maximum | Employee Stock Option [Member] | $17.95-$19.75
Stock options outstanding and exercisable
Exercise price, high end of range (in dollars per share)	$ 33.79

Restricted Stock Units (Details

Restricted Stock Units (Details 3) - Restricted Stock Units - $ / shares	3 Months Ended
	Jul. 31, 2015	Apr. 30, 2015
Restricted Cash and Cash Equivalents Items [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted	0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	22,368	28,929
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted, Weighted Average Grant Date Fair Value	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	4,678
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	$ 17.95
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations	1,883
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations, Weighted Average Grant Date Fair Value	$ 29.51
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Weighted Average Grant Date Fair Value	$ 33.38	$ 30.63

Fair Value of Financial Instr41

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Jul. 31, 2015	Apr. 30, 2015	Jul. 31, 2014
Assets:
Total recurring and nonrecurring assets	$ 13,728	$ 36,805	$ 6,217
Level 1
Assets:
Total recurring and nonrecurring assets	0	16,975	0
Level 2
Assets:
Total recurring and nonrecurring assets	0	0	0
Level 3
Assets:
Total recurring and nonrecurring assets	13,728	19,830	6,217
Nonrecurring
Assets:
Impaired accounts and notes receivable	13,728	11,961	6,217
Impaired Online Software, Fair Value Disclosure		1,253
Impaired Acquired Online Customer Lists, Fair Value Disclosure		1,027
Impaired goodwill		224
Impaired reacquired rights		79
Impaired customer lists		126
Assets Held for Sale, net of impairment		5,160
Total nonrecurring assets		19,830
Nonrecurring | Level 1
Assets:
Impaired accounts and notes receivable	0	0	0
Impaired Online Software, Fair Value Disclosure		0
Impaired Acquired Online Customer Lists, Fair Value Disclosure		0
Impaired goodwill		0
Impaired reacquired rights		0
Impaired customer lists		0
Assets Held for Sale, net of impairment		0
Total nonrecurring assets		0
Nonrecurring | Level 2
Assets:
Impaired accounts and notes receivable	0	0	0
Impaired Online Software, Fair Value Disclosure		0
Impaired Acquired Online Customer Lists, Fair Value Disclosure		0
Impaired goodwill		0
Impaired reacquired rights		0
Impaired customer lists		0
Assets Held for Sale, net of impairment		0
Total nonrecurring assets		0
Nonrecurring | Level 3
Assets:
Impaired accounts and notes receivable	$ 13,728	11,961	$ 6,217
Impaired Online Software, Fair Value Disclosure		1,253
Impaired Acquired Online Customer Lists, Fair Value Disclosure		1,027
Impaired goodwill		224
Impaired reacquired rights		79
Impaired customer lists		126
Assets Held for Sale, net of impairment		5,160
Total nonrecurring assets		19,830
Recurring
Assets:
Cash equivalents, money market account		16,975
Recurring | Level 1
Assets:
Cash equivalents, money market account		16,975
Recurring | Level 2
Assets:
Cash equivalents, money market account		0
Recurring | Level 3
Assets:
Cash equivalents, money market account		$ 0

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Jul. 31, 2015	Jul. 31, 2014	Apr. 30, 2015
Related Party Transaction [Line Items]
License Costs	$ 200
CANADA
Related Party Transaction [Line Items]
License Costs	$ 10	$ 235
Directors and Affiliated Companies and Officers [Member]
Related Party Transaction [Line Items]
Treasury Stock, Shares	880,248
Treasury Stock, Value	$ 22,300
Directors and Affiliated Companies and Officers [Member] | Cloud and Mobile Accounting Solutions [Domain]
Related Party Transaction [Line Items]
License Costs	0		$ 300
Directors and Affiliated Companies and Officers [Member] | CANADA | License Purchase [Domain] [Domain]
Related Party Transaction [Line Items]
License Costs	$ 700

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	Aug. 27, 2015	Sep. 30, 2014	Sep. 30, 2013	Jun. 30, 2012	Jul. 31, 2015	Jul. 31, 2014
Commitments and contingencies
Dividends declared per share of common stock and common stock equivalents					$ 0.16	$ 0
ERC class action litigation
Commitments and contingencies
Loss Contingency, Estimate of Possible Loss				$ 5,300,000
ERC class action litigation | Minimum
Commitments and contingencies
Potential damages sought by plaintiffs				$ 5,000,000
TCPA Class Action [Domain]
Commitments and contingencies
Loss Contingency, Estimate of Possible Loss		$ 3,000,000
TCPA Class Action [Domain] | Minimum
Commitments and contingencies
Potential damages sought by plaintiffs			$ 500
TCPA Class Action [Domain] | Maximum
Commitments and contingencies
Potential damages sought by plaintiffs			$ 1,500
Dividend Declared [Member]
Commitments and contingencies
Dividends declared per share of common stock and common stock equivalents	$ 0.16

Uncategorized Items - tax-20150

Label	Element	Value
Goodwill, Gross	us-gaap_GoodwillGross	$ 2,997
Goodwill, Gross	us-gaap_GoodwillGross	$ 3,377