Franchise (TAX) 10-Q 8 Mar 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Jan. 31, 2016	Mar. 01, 2016
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	Jan. 31, 2016
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	Q3
Common Class A [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		11,971,808
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	Jan. 31, 2016	Apr. 30, 2015	Jan. 31, 2015
Current assets:
Cash and cash equivalents	$ 1,787	$ 21,387	$ 3,150
Receivables:
Accounts receivable	59,865	46,121	50,020
Notes receivable - current	90,858	24,465	76,233
Interest receivable	5,156	1,033	3,989
Allowance for doubtful accounts - current	(5,993)	(5,692)	(5,760)
Total current receivables, net	149,886	65,927	124,482
Assets Held for Sale	11,164	5,160	5,613
Income taxes receivable	16,303	0	17,434
Deferred income tax asset	3,354	6,921	7,574
Other current assets	21,188	6,470	18,371
Total current assets	203,682	105,865	176,624
Property, equipment, and software, net of accumulated depreciation of $19,825, $18,951 and $12,467, respectively	41,216	36,232	42,615
Notes, Loans and Financing Receivable, Gross, Noncurrent	34,374	22,416	29,389
Allowance for Doubtful Accounts Receivable, Noncurrent	(1,338)	(1,663)	(1,339)
Notes, Loans and Financing Receivable, Net, Noncurrent	33,036	20,753	28,050
Goodwill	4,069	3,377	3,185
Other intangible assets, net	13,217	14,672	17,358
Other assets	8,580	3,247	3,973
Total assets	303,800	184,146	271,805
Current liabilities:
Current installments of long-term debt	5,220	3,934	4,107
Accounts payable and accrued expenses	15,506	17,321	27,787
Due to area developers (ADs)	16,258	24,340	14,980
Income taxes payable	0	2,147	0
Deferred revenue - current	4,413	6,076	6,094
Total current liabilities	41,397	53,818	52,968
Long-term debt, excluding current installments	18,532	21,463	21,778
Revolving credit facility	150,682	0	110,762
Deferred revenue - non-current	7,206	7,640	7,777
Deferred income tax liability	6,049	2,363	6,705
Total liabilities	223,866	85,284	199,990
Stockholders’ equity:
Additional paid-in capital	6,385	4,082	2,049
Accumulated other comprehensive income (loss), net of taxes	(2,430)	(697)	(1,171)
Retained earnings	75,840	95,339	70,800
Total stockholders’ equity	79,934	98,862	71,815
Total liabilities and stockholders’ equity	303,800	184,146	271,805
Special voting preferred stock
Stockholders’ equity:
Preferred stock	0	0	0
Class A common stock
Stockholders’ equity:
Common stock	120	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	Jan. 31, 2016	Apr. 30, 2015	Jan. 31, 2015
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ 19,825	$ 18,951	$ 12,467
Finite-Lived Intangible Assets, Accumulated Amortization	$ 6,339	$ 5,018	$ 6,556
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	11,969,604	11,905,156	11,785,705
Common stock, shares outstanding	11,969,604	11,905,156	11,785,705
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	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		9 Months Ended
	Jan. 31, 2016	Jan. 31, 2015	Jan. 31, 2016	Jan. 31, 2015
Class of Stock [Line Items]
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic	$ (343)	$ (140)	$ 0	$ 0
Net Income (Loss) Available to Common Stockholders, Basic	4,395	1,779	(12,870)	(18,053)
Revenues:
Franchise fees	1,011	968	2,526	2,996
AD fees	1,363	1,592	4,491	5,066
Royalties and advertising fees	25,571	25,457	28,589	28,350
Financial products	17,266	13,370	17,781	14,027
Interest income	3,188	3,222	7,503	7,200
Tax preparation fees, net of discounts	3,843	1,942	4,805	2,848
Other revenue	1,379	1,129	3,320	2,766
Total revenue	53,621	47,680	69,015	63,253
Operating expenses:
Employee compensation and benefits	11,638	10,686	28,454	28,736
Selling, general, and administrative expenses	12,585	12,834	29,097	30,809
AD expense	9,340	9,178	10,722	10,776
Advertising expense	8,972	8,161	14,072	14,022
Depreciation, amortization, and impairment charges	2,118	2,527	5,626	6,855
Total operating expenses	44,653	43,386	87,971	91,198
Income (loss) from operations	8,968	4,294	(18,956)	(27,945)
Other expense:
Foreign currency transaction loss	(14)	(35)	(39)	(45)
Interest expense	(705)	(683)	(1,592)	(1,550)
Income (loss) before income taxes	8,249	3,576	(20,587)	(29,540)
Income tax expense (benefit)	3,511	1,657	(7,717)	(11,487)
Net Income (loss)	$ 4,738	$ 1,919	$ (12,870)	$ (18,053)
Earnings (loss) per share of Class A and Class B common stock:
Earnings Per Share, Basic and Diluted	$ 0.34	$ 0.14	$ (1.01)	$ (1.42)
Earnings Per Share, Diluted	$ 0.34	$ 0.13	$ (1.01)	$ (1.42)
Weighted-average shares outstanding basic	12,795,367	12,679,286	12,794,185	12,742,288
Weighted Average Number of Shares Outstanding, Diluted	14,002,356	14,227,163	12,794,185	12,742,288
Dividends declared per share of common stock and common stock equivalents	$ 0.16	$ 0	$ 0.48	$ 0
Common Class B [Member]
Class of Stock [Line Items]
Net Income (Loss) Available to Common Stockholders, Basic	$ 309	$ 126
Other expense:
Net Income (loss)	$ 333	$ 136	$ (905)	$ (1,275)
Earnings (loss) per share of Class A and Class B common stock:
Earnings Per Share, Basic and Diluted	$ 0.34	$ 0.14
Earnings Per Share, Diluted	$ 0.34	$ 0.13
Weighted-average shares outstanding basic	900,000	900,000
Weighted Average Number of Shares Outstanding, Diluted	913,504	936,046

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2016	Jan. 31, 2015	Jan. 31, 2016	Jan. 31, 2015
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax	$ (347)	$ 0	$ (347)	$ 0
Net Income (loss)	4,738	1,919	(12,870)	(18,053)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax	(488)	(1,339)	(1,362)	(1,508)
Other Comprehensive Income Loss From Forward Contracts Net of Tax	(23)	271	(23)	271
Comprehensive income (loss)	$ 3,880	$ 851	$ (14,602)	$ (19,290)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Comprehensive Loss parentheticals - USD ($)	3 Months Ended		9 Months Ended
	Jan. 31, 2016	Jan. 31, 2015	Jan. 31, 2016	Jan. 31, 2015
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Tax	$ 208	$ 0	$ 208	$ 0

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Jan. 31, 2016	Jan. 31, 2015
Cash flows from operating activities:
Net Income (loss)	$ (12,870)	$ (18,053)
Adjustments to reconcile net loss to net cash used in operating activities:
Provision for doubtful accounts	4,589	4,453
Depreciation, amortization, and impairment charges	5,626	6,855
Stock-based compensation expense	1,348	2,002
Loss (gain) on bargain purchases and sales of Company-owned offices	(470)	(310)
Deferred tax expense	7,253	144
Increase (Decrease) in Income Taxes Payable	(18,283)	(27,110)
Changes in other assets and liabilities	(55,476)	(22,202)
Net cash used in operating activities	(68,283)	(54,221)
Cash flows from investing activities:
Issuance of operating loans to franchisees	(81,364)	(74,298)
Payments received on operating loans to franchisees	3,077	16,410
Purchases of AD rights and Company-owned offices	(3,713)	(8,218)
Proceeds from sale of Company-owned offices and AD rights	2,851	3,690
Purchases of property, equipment and software	(8,685)	(9,532)
Net cash used in investing activities	(92,833)	(71,948)
Cash flows from financing activities:
Proceeds from the exercise of stock options	1,998	10,053
Repurchase of common stock	(1,977)	(35,910)
Payments of Ordinary Dividends	(6,629)	0
Repayments of Amounts Due to Former ADs	(2,429)	(4,211)
Repayment of debt	(726)	(949)
Borrowings under revolving credit facility	151,225	136,565
Repayments under revolving credit facility	(543)	(25,803)
Payments of Financing Costs	0	917
Tax benefit of stock option exercises	933	4,776
Net cash provided by financing activities	141,852	83,604
Effect of exchange rate changes on cash, net	(336)	(365)
Net decrease in cash and cash equivalents	(19,600)	(42,930)
Cash and cash equivalents at beginning of period	21,387	46,080
Cash and cash equivalents at end of period	1,787	3,150
Supplemental disclosures of cash flow information:
Cash paid for interest, net of capitalized interest of $225 and $135, respectively	974	948
Cash paid for taxes, net of refunds	2,374	10,849
Capital Expenditures Incurred but Not yet Paid	292	252
During the nine months ended January 31, 2016 and 2015, the Company acquired certain assets from franchisees, ADs and third parties as follows:
Fair value of assets purchased	15,087	16,531
Receivables applied, net of amounts due ADs and related deferred revenue	(9,391)	(5,472)
Business Combination, Bargain Purchase, Gain Recognized, Amount	(451)	(275)
Notes and accounts payable issued	(1,532)	(2,566)
Cash paid to franchisees and ADs	3,713	8,218
During the nine months ended January 31, 2016 and 2015, the Company sold certain assets to franchisees and ADs as follows:
Book value of assets sold	8,505	9,868
Gain on sale-revenue deferred	(156)	(125)
Loss on sale - loss recognized	1,688	2,000
Notes received	(7,186)	(8,053)
Cash received from franchisees and ADs	2,851	3,690
Payments to Acquire Available-for-sale Securities	$ 4,999	$ 0

Organization and Significant Ac

Organization and Significant Accounting Policies	9 Months Ended
	Jan. 31, 2016
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. All of the offices are operated under the Liberty Tax Service and SiempreTax+ brands. 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 required only 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 following table shows the U. S. office activity and the number of Canadian and Company-owned offices for the 2016, 2015 and 2014 tax seasons: Tax Season 2016 2015 2014 U.S. Office Locations: Permanent Office Locations: Operated during the prior tax season 3,764 3,663 3,816 Offices opened 453 397 289 Offices closed (257 ) (296 ) (442 ) Operated during the current tax season 3,960 3,764 3,663 Seasonal Office Locations: Operated during the prior tax season 262 486 427 Offices opened 127 118 334 Offices closed (178 ) (342 ) (275 ) Operated during the current tax season 211 262 486 Processing Centers 54 43 26 Total U.S. Office locations 4,225 4,069 4,175 Canada office locations 262 259 263 Total office locations 4,487 4,328 4,438 Additional office information: Company-owned offices 310 182 216 Franchised offices 4,177 4,146 4,222 Total office locations 4,487 4,328 4,438 SiempreTax+ is operating 144 offices during the 2016 tax season compared to 57 during the 2015 season. These offices consist of second offices opened by current franchisees in territories they already owned, conversions of existing Liberty Tax offices and offices opened in new territories. Territory Sales During the first nine months of fiscal 2016, we sold approximately 180 new territories, compared to approximately 160 during the same period in fiscal 2015 and 132 in 2014. New territories include territories sold to new franchisees and additional territories sold to existing franchisees. 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 In September 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2015-16, “Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments.” ASU 2015-16 eliminates the requirement for an acquirer to retrospectively adjust provisional amounts recorded in a business combination to reflect new information about the facts and circumstances that existed as of the acquisition date and that, if known, would have affected measurement or recognition of amounts initially recognized. As an alternative, the amendment requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The amendments require that the acquirer record, in the financial statements of the period in which adjustments to provisional amounts are determined, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. ASU 2015-16 is effective prospectively for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years, which means that it will be effective for us in the first quarter of our fiscal year beginning May 1, 2016. Early adoption is permitted. The Company is currently evaluating the impact of our pending adoption of ASU 2015-16 on our consolidated financial statements. In May 2014 the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606),” and in August 2015 the FASB issued ASU 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,” which defers the effective date of ASU 2014-09 by one year. ASU 2014-09 supersedes nearly all existing revenue recognition guidance under U.S. GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. ASU 2014-09 defines a five step process to achieve this core principle and, in doing so, it is possible that more judgment and estimates may be required within the revenue recognition process than are required under present U.S. GAAP. These may include identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price, and allocating the transaction price to each separate performance obligation. The new standard also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. ASU 2014-09 is effective for reporting periods beginning after December 15, 2017, which means that it will be effective for us in the first quarter of our fiscal year beginning May 1, 2018. Early adoption of one year prior to the required effective date is permitted. ASU 2014-09 allows adoption using either of two methods: (i) retrospective to each prior reporting period presented, with the option to elect certain practical expedients; or (ii) retrospective with the cumulative effect of initially applying ASU 2014-09 recognized at the date of initial application and providing certain additional disclosures. The Company is currently evaluating the impact of our pending adoption of ASU 2014-09 on our consolidated financial statements. In November 2015 the FASB issued ASU 2015-17, "Balance Sheet Classification of Deferred Taxes (Topic 740)," which requires entities with a classified balance sheet to present all deferred tax assets and liabilities as non-current. This ASU is effective for interim and annual periods in fiscal years beginning after December 15, 2016, which means that it will be effective for us in the first quarter of our fiscal year beginning May 1, 2017. The Company is currently evaluating the impact of our pending adoption of ASU 2015-17 on our consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, “Leases," which requires recognition of lease assets and lease liabilities on the balance sheet of lessees. ASU 2016-02 is effective for fiscal years and interim reporting periods within those years beginning after December 15, 2018, which for us is the first quarter of our fiscal year beginning May 1, 2019. Early adoption is permitted. ASU 2016-02 requires a modified retrospective transition approach and provides certain optional transition relief. The Company is currently evaluating the effect the adoption of this guidance will have on its consolidated results of operations, financial position and cash flows. Foreign Operations Canadian operations contributed $0.3 million and $0.2 million in revenues for the three months ended January 31, 2016 and 2015 , respectively and $1.6 million and $1.4 million in revenues for the nine months ended January 31, 2016 and 2015 , respectively.

Notes and Accounts Receivable

Notes and Accounts Receivable	9 Months Ended
	Jan. 31, 2016
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 are presented in the consolidated balance sheets as follows: January 31, 2016 April 30, 2015 January 31, 2015 (In thousands) Notes receivable - current $ 90,858 $ 24,465 $ 76,233 Notes receivable - non-current 34,374 22,416 29,389 Interest 5,156 1,033 3,989 Total notes and interest receivable $ 130,388 $ 47,914 $ 109,611 Most of the notes receivable are due from the Company's franchisees and ADs and are collateralized by the underlying franchise or AD 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 franchise or AD 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 receivable are payable to the AD. The Company has recorded amounts payable to ADs for their share of these receivables of $16.3 million , $24.3 million , and $15.0 million at January 31, 2016 , April 30, 2015 and January 31, 2015 , 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 new AD contracts will be recognized over that shorter period, subject to the receipt of cash. Unrecognized revenue was $40.7 million , $38.6 million and $42.0 million at January 31, 2016 , April 30, 2015 and January 31, 2015 , respectively. At January 31, 2016 , the Company had unfunded lending commitments for working capital loans to franchisees and ADs of $10.2 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 franchise or AD areas could affect the Company's estimate of the allowance. Activity in the allowance for doubtful accounts for the three and nine months ended January 31, 2016 and 2015 was as follows: Three Months Ended January 31, Nine Months Ended January 31, 2016 2015 2016 2015 (In thousands) Balance at beginning of period $ 8,075 $ 7,145 $ 7,355 $ 6,850 Provision for doubtful accounts 1,192 1,245 4,589 4,453 Write-offs (1,883 ) (1,131 ) (4,461 ) (4,024 ) Foreign currency adjustment (53 ) (160 ) (152 ) (180 ) Balance at end of period $ 7,331 $ 7,099 $ 7,331 $ 7,099 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. We perform our impairment analysis annually due to the seasonal nature of our operations. 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 January 31, 2016 , April 30, 2015 and January 31, 2015 , was allocated as follows: January 31, 2016 April 30, 2015 January 31, 2015 (In thousands) Impaired: Notes and interest receivable, net of unrecognized revenue $ 6,466 $ 10,921 $ 6,128 Accounts receivable 4,274 7,634 3,478 Less amounts due to ADs and franchisees (727 ) (1,535 ) (416 ) Amounts receivable less amounts due to ADs and franchisees $ 10,013 $ 17,020 $ 9,190 Allowance for doubtful accounts for impaired notes and accounts receivable $ 3,693 $ 6,594 $ 4,709 Non-impaired: Notes and interest receivable, net of unrecognized revenue $ 123,922 $ 36,993 $ 103,483 Accounts receivable 55,591 38,487 46,542 Less amounts due to ADs and franchisees (16,170 ) (25,150 ) (15,186 ) Amounts receivable less amounts due to ADs and franchisees $ 163,343 $ 50,330 $ 134,839 Allowance for doubtful accounts for non-impaired notes and accounts receivable $ 3,638 $ 761 $ 2,390 Total: Notes and interest receivable, net of unrecognized revenue $ 130,388 $ 47,914 $ 109,611 Accounts receivable 59,865 46,121 50,020 Less amounts due to ADs and franchisees (16,897 ) (26,685 ) (15,602 ) Amounts receivable less amounts due to ADs and franchisees $ 173,356 $ 67,350 $ 144,029 Total allowance for doubtful accounts $ 7,331 $ 7,355 $ 7,099 The Company’s average investment in impaired notes receivable during the nine months ended January 31, 2016 and 2015 was $8.7 million and $7.3 million , respectively. Analysis of Past Due Receivables The breakdown of accounts and notes receivable past due at January 31, 2016 was as follows: Past due Current Total receivables (In thousands) Accounts receivable $ 26,359 $ 33,506 $ 59,865 Notes and interest receivable, net of unrecognized revenue 5,988 124,400 130,388 Total accounts, notes and interest receivable $ 32,347 $ 157,906 $ 190,253 Accounts receivable are considered to be past due if unpaid 30 days after billing and notes receivable are considered past due if unpaid 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 $6.0 million , $9.3 million , and $6.7 million at January 31, 2016 , April 30, 2015, and January 31, 2015 , respectively. Payments received on notes in non-accrual status are applied to interest income first until the note is current and then to the principal note balance. Accounts receivables unpaid as of April 30 each year often remain unpaid until the following tax season due to the seasonal nature of our operations and franchisees' cash flows. Non-accrual 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	9 Months Ended
	Jan. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Changes in the carrying amount of goodwill for the nine months ended January 31, 2016 and 2015 were as follows: January 31, 2016 January 31, 2015 (In thousands) Balance at beginning of period $ 3,377 $ 2,978 Acquisitions of assets from franchisees 975 330 Disposals and foreign currency changes, net (283 ) (123 ) Impairments — — Balance at end of period $ 4,069 $ 3,185 Components of intangible assets were as follows as of January 31, 2016 , April 30, 2015 and January 31, 2015 : January 31, 2016 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 $ (254 ) $ 773 Assets acquired from franchisees: Customer lists 4 years 1,394 (634 ) 760 Reacquired rights 2 years 441 (407 ) 34 AD rights 10 years 16,694 (5,044 ) 11,650 Total intangible assets $ 19,556 $ (6,339 ) $ 13,217 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 January 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 6 years $ 4,816 $ (2,038 ) $ 2,778 Assets acquired from franchisees: Customer lists 4 years 968 (450 ) 518 Reacquired rights 2 years 785 (397 ) 388 AD rights 10 years 17,345 (3,671 ) 13,674 Total intangible assets $ 23,914 $ (6,556 ) $ 17,358 During the nine months ended January 31, 2016 , the Company acquired the assets of U.S. and Canadian franchisees and third parties for $2.2 million . During the nine months ended January 31, 2015 , the Company acquired the assets of U.S. and Canadian franchisees for $1.5 million . These acquisitions were accounted for as business combinations. The allocation of the purchase price of assets acquired from franchisees and third parties to intangible assets during the nine months ended January 31, 2016 and 2015 was as follows: Nine Months Ended January 31, 2016 2015 (In thousands) Customer lists and reacquired rights $ 822 $ 1,169 Accounts receivable 320 — Property, equipment, and software 40 — Goodwill 975 330 Total $ 2,157 $ 1,499

Assets Held For Sale (Notes)

Assets Held For Sale (Notes)	9 Months Ended
	Jan. 31, 2016
Assets Held For Sale Disclosure [Abstract]
Assets Held for Sale	Assets Held For Sale At the end of the third quarter of fiscal 2016 and 2015 , assets acquired from U.S. franchisees were classified as assets held for sale. During the nine months ended January 31, 2016 , the Company acquired $11.5 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 $5.2 million and goodwill of $6.3 million prior to being recorded as assets held for sale. During the nine months ended January 31, 2015 , the Company acquired $6.7 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 $3.2 million and goodwill of $3.5 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 nine months ended January 31, 2016 and 2015 were as follows: Nine Months Ended January 31, 2016 2015 (In thousands) Balance at beginning of period $ 5,160 $ 4,413 Reacquired, acquired from third parties, and other 11,820 6,656 Dispositions (5,816 ) (5,456 ) Balance at end of period $ 11,164 $ 5,613

Debt

Debt	9 Months Ended
	Jan. 31, 2016
Debt Disclosure [Abstract]
Debt	Debt The Company has an amended credit facility that 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 January 31, 2016 and 2015, the interest rate was 2.05% and 1.79% , respectively and the average interest rate paid during the nine months ended January 31, 2016 and 2015 was 1.84% 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 that has a small balance 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 January 31, 2016 . Debt at January 31, 2016 , April 30, 2015 , and January 31, 2015 consisted of the following: January 31, 2016 April 30, 2015 January 31, 2015 (In thousands) Credit Facility: Revolver $ 150,682 $ — $ 110,762 Term loan 19,789 20,453 20,984 170,471 20,453 131,746 Amounts due to former ADs and mortgages 3,963 4,944 4,901 174,434 25,397 136,647 Less: current portion (5,220 ) (3,934 ) (4,107 ) Long-term debt $ 169,214 $ 21,463 $ 132,540

Income Taxes

Income Taxes	9 Months Ended
	Jan. 31, 2016
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.

Stock Compensation Plans

Stock Compensation Plans	9 Months Ended
	Jan. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Compensation Plans	Stock Compensation Plans Stock Options The Company has an equity and cash incentive plan, for the issuance of up to 2,500,000 shares of Class A common stock in which employees and outside directors are eligible to receive awards. At January 31, 2016 , 1,380,602 shares of Class A common stock remain available for grant. There were 200,387 options granted during the nine months ended January 31, 2016 . Stock option activity during the nine months ended January 31, 2016 was as follows: Number of options Weighted average exercise price Balance at beginning of period 1,343,559 $ 19.28 Granted 200,387 22.95 Exercised (132,510 ) 15.09 Expired or forfeited (150,490 ) 24.39 Balance at end of period 1,260,946 19.70 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 nine months ended January 31, 2016 was $0.7 million . The total intrinsic value of stock options outstanding at January 31, 2016 was $4.4 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 activity during the nine months ended January 31, 2016 was as follows: Nonvested options Weighted average exercise price Balance at beginning of period 385,416 $ 27.56 Granted 200,387 22.95 Vested (53,750 ) 33.57 Forfeited (50,000 ) 33.79 Balance at end of period 482,053 24.33 At January 31, 2016 , unrecognized compensation costs related to nonvested stock options were $2.4 million . These costs are expected to be recognized through fiscal 2021. The following table summarizes information about stock options outstanding and exercisable at January 31, 2016 : 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 9,650 $ 10.50 0.2 9,650 $ 10.50 15.00 515,617 15.00 1.8 515,617 15.00 16.38 - 19.75 264,876 17.94 3.9 189,876 17.89 22.18 - 29.48 405,387 24.83 5.9 35,000 26.18 33.38 - 33.79 65,416 33.38 5.8 28,750 33.38 1,260,946 19.70 778,893 16.83 Restricted Stock Units Restricted stock activity during the nine months ended January 31, 2016 was as follows: Number of Restricted stock units Weighted average fair value at grant date Balance at beginning of period 28,929 $ 30.63 Granted 32,056 23.06 Vested (13,394 ) 27.99 Forfeited (3,798 ) 28.46 Balance at end of period 43,793 26.09 At January 31, 2016 , unrecognized compensation costs related to restricted stock units were $0.7 million . These costs are expected to be recognized through fiscal 2019.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Jan. 31, 2016
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 January 31, 2016 , April 30, 2015 and January 31, 2015 , 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): January 31, 2016 Fair value measurements using Total Level 1 Level 2 Level 3 Assets: Recurring: Available-for-sale equity security $ 4,444 $ 4,444 $ — $ — Forward contract related to foreign currency exchange rates 23 — 23 — Nonrecurring: Impaired accounts and notes receivable 8,525 — — 8,525 Total recurring and nonrecurring assets $ 12,992 $ 4,444 $ 23 $ 8,525 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 January 31, 2015 Fair value measurements using Total Level 1 Level 2 Level 3 Assets: Recurring: Forward contracts related to foreign currency exchange rates $ 271 $ — $ 271 $ — Nonrecurring: Impaired accounts and notes receivable 4,897 — — 4,897 Total recurring and nonrecurring assets $ 5,168 $ — $ 271 $ 4,897 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 nine months ended January 31, 2016 and 2015 . 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. Available-for-sale securities: Available-for-sale securities are carried at their aggregate fair value. Fair values for available-for-sale securities are based on published market prices. 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	9 Months Ended
	Jan. 31, 2016
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 nine months ended January 31, 2016 , during the nine months ended January 31, 2015 the Company repurchased 993,852 shares of stock for a value of $26.6 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 were made for this service of $250 thousand during fiscal 2015 and $14 thousand during the nine months ended January 31, 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	9 Months Ended
	Jan. 31, 2016
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 has funded the establishment of a settlement fund of $5.3 million , inclusive of settlement administration costs and plaintiffs’ counsel fees. The claims process is complete and the trial court approved the final settlement agreement on January 7, 2016, with final judgment being entered on January 8, 2016. 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 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 the Company 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 has funded the establishment of a settlement fund of $3.0 million , inclusive of settlement administration costs and plaintiffs’ counsel fees. This settlement received the preliminary approval of the court and notices to class members have been sent, but the settlement remains subject to final court approval. The Company 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 its consolidated results of operations or financial position.

Subsequent Event (Notes)

Subsequent Event (Notes)	9 Months Ended
	Jan. 31, 2016
Subsequent Events [Abstract]
Subsequent Events [Text Block]	Subsequent Event On March 4, 2016, the Board of Directors approved a quarterly cash dividend to shareholders of $0.16 per share payable on April 22, 2016 to holders of record of common stock and common stock equivalents on April 12, 2016.

Investments (Notes)

Investments (Notes)	9 Months Ended
	Jan. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	Investments During the third quarter of fiscal 2016, the Company purchased a corporate equity security for $5.0 million , which was classified as available-for-sale and reported in other non-current assets. The Company recorded an unrealized loss at January 31, 2016 , of $0.3 million , net of taxes, which was reported in the Company's Consolidated Statement of Comprehensive Loss.

Forward Contracts (Notes)

Forward Contracts (Notes)	9 Months Ended
	Jan. 31, 2016
Foreign Currency [Abstract]
Forward Contracts [Text Block]	Forward Contracts Related to Foreign Currency Exchange Rates In connection with short-term advances made to its Canadian subsidiary related to personal income tax refund discounting, the Company periodically enters into forward contracts to eliminate the exposure related to foreign currency fluctuations. Under the terms of the forward currency contracts, the exchange rate for repayments is fixed at the time an advance is made and the advances are repaid prior to April 30 of the fiscal year of the advance. These forward contracts are designated as cash flow hedges. At January 31, 2016, the fair value of foreign currency contracts included in other liabilities was $23 thousand and at January 31, 2015, the fair value of foreign currency contracts included in other assets was $271 thousand . The Company had no outstanding forward contracts at April 30, 2015.

Organization and Significant 21

Organization and Significant Accounting Policies (Policies)	9 Months Ended
	Jan. 31, 2016
Accounting Policies [Abstract]
Description of Business	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. All of the offices are operated under the Liberty Tax Service and SiempreTax+ brands. 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	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 required only 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 following table shows the U. S. office activity and the number of Canadian and Company-owned offices for the 2016, 2015 and 2014 tax seasons: Tax Season 2016 2015 2014 U.S. Office Locations: Permanent Office Locations: Operated during the prior tax season 3,764 3,663 3,816 Offices opened 453 397 289 Offices closed (257 ) (296 ) (442 ) Operated during the current tax season 3,960 3,764 3,663 Seasonal Office Locations: Operated during the prior tax season 262 486 427 Offices opened 127 118 334 Offices closed (178 ) (342 ) (275 ) Operated during the current tax season 211 262 486 Processing Centers 54 43 26 Total U.S. Office locations 4,225 4,069 4,175 Canada office locations 262 259 263 Total office locations 4,487 4,328 4,438 Additional office information: Company-owned offices 310 182 216 Franchised offices 4,177 4,146 4,222 Total office locations 4,487 4,328 4,438 SiempreTax+ is operating 144 offices during the 2016 tax season compared to 57 during the 2015 season. These offices consist of second offices opened by current franchisees in territories they already owned, conversions of existing Liberty Tax offices and offices opened in new territories.
Territory Sales Policy [Policy Text Block]	Territory Sales During the first nine months of fiscal 2016, we sold approximately 180 new territories, compared to approximately 160 during the same period in fiscal 2015 and 132 in 2014. New territories include territories sold to new franchisees and additional territories sold to existing franchisees.
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 In September 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2015-16, “Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments.” ASU 2015-16 eliminates the requirement for an acquirer to retrospectively adjust provisional amounts recorded in a business combination to reflect new information about the facts and circumstances that existed as of the acquisition date and that, if known, would have affected measurement or recognition of amounts initially recognized. As an alternative, the amendment requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The amendments require that the acquirer record, in the financial statements of the period in which adjustments to provisional amounts are determined, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. ASU 2015-16 is effective prospectively for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years, which means that it will be effective for us in the first quarter of our fiscal year beginning May 1, 2016. Early adoption is permitted. The Company is currently evaluating the impact of our pending adoption of ASU 2015-16 on our consolidated financial statements. In May 2014 the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606),” and in August 2015 the FASB issued ASU 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,” which defers the effective date of ASU 2014-09 by one year. ASU 2014-09 supersedes nearly all existing revenue recognition guidance under U.S. GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. ASU 2014-09 defines a five step process to achieve this core principle and, in doing so, it is possible that more judgment and estimates may be required within the revenue recognition process than are required under present U.S. GAAP. These may include identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price, and allocating the transaction price to each separate performance obligation. The new standard also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. ASU 2014-09 is effective for reporting periods beginning after December 15, 2017, which means that it will be effective for us in the first quarter of our fiscal year beginning May 1, 2018. Early adoption of one year prior to the required effective date is permitted. ASU 2014-09 allows adoption using either of two methods: (i) retrospective to each prior reporting period presented, with the option to elect certain practical expedients; or (ii) retrospective with the cumulative effect of initially applying ASU 2014-09 recognized at the date of initial application and providing certain additional disclosures. The Company is currently evaluating the impact of our pending adoption of ASU 2014-09 on our consolidated financial statements. In November 2015 the FASB issued ASU 2015-17, "Balance Sheet Classification of Deferred Taxes (Topic 740)," which requires entities with a classified balance sheet to present all deferred tax assets and liabilities as non-current. This ASU is effective for interim and annual periods in fiscal years beginning after December 15, 2016, which means that it will be effective for us in the first quarter of our fiscal year beginning May 1, 2017. The Company is currently evaluating the impact of our pending adoption of ASU 2015-17 on our consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, “Leases," which requires recognition of lease assets and lease liabilities on the balance sheet of lessees. ASU 2016-02 is effective for fiscal years and interim reporting periods within those years beginning after December 15, 2018, which for us is the first quarter of our fiscal year beginning May 1, 2019. Early adoption is permitted. ASU 2016-02 requires a modified retrospective transition approach and provides certain optional transition relief. The Company is currently evaluating the effect the adoption of this guidance will have on its consolidated results of operations, financial position and cash flows.
Foreign Operations	Foreign Operations Canadian operations contributed $0.3 million and $0.2 million in revenues for the three months ended January 31, 2016 and 2015 , respectively and $1.6 million and $1.4 million in revenues for the nine months ended January 31, 2016 and 2015 , respectively.

Stockholders' Equity Stockholde

Stockholders' Equity Stockholders' Equity Activity (Policies)	9 Months Ended
	Jan. 31, 2016
Stockholders' Equity Attributable to Parent [Abstract]
Stockholders' Equity Activity [Text Block]	Stockholders’ Equity Stockholders' Equity Activity During the nine months ended January 31, 2016 and 2015 , activity in stockholders’ equity was as follows: Nine Months Ended January 31, 2016 2015 (in thousands, except for share amounts) Class A common shares issued from the exercise of stock options 132,510 629,633 Class A common shares issued from the vesting of restricted stock and as Board of Directors compensation 14,293 17,495 Proceeds from exercise of stock options $ 1,998 $ 10,053 Stock-based compensation expense $ 1,348 $ 2,002 Class A common shares repurchased 82,355 1,270,661 Payments for repurchased shares $ 1,977 $ 35,910 Tax benefit of stock option exercises $ 933 $ 4,776 Dividends declared $ 6,629 $ — Accumulated Other Comprehensive Loss The components of accumulated other comprehensive loss at January 31, 2016 , April 30, 2015 and January 31, 2015 were as follows. January 31, 2016 April 30, 2015 January 31, 2015 (In thousands) Foreign currency adjustment $ (2,060 ) $ (697 ) $ (1,442 ) Unrealized loss on available-for-sale securities, net of taxes of $208, $-, and $-, respectively (347 ) — — Forward contracts related to foreign currency exchange rates (23 ) — 271 Total accumulated other comprehensive loss $ (2,430 ) $ (697 ) $ (1,171 ) 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 income (loss) per share for the three and nine months ended January 31, 2016 and 2015 is as follows: Three Months Ended Three Months Ended Class A Class B Class A Class B Common Stock Common Stock Common Stock Common Stock (in thousands, except for share and per (in thousands, except for share and per Basic net income per share: Numerator Allocation of undistributed income $ 4,405 $ 333 $ 1,783 $ 136 Amounts allocated to participating securities: Exchangeable shares (319 ) (24 ) (130 ) (10 ) Net income attributable to common stockholders $ 4,086 $ 309 $ 1,653 $ 126 Denominator Weighted-average common shares outstanding 11,895,367 900,000 11,779,286 900,000 Basic net income per share $ 0.34 $ 0.34 $ 0.14 $ 0.14 Diluted net income per share: Numerator Allocation of undistributed earnings for basic computation $ 4,086 $ 309 $ 1,653 $ 126 Reallocation of undistributed earnings as a result of assumed conversion of: Class B common stock to Class A common stock 309 — 126 — Exchangeable shares to Class A common stock 343 — 140 — $ 4,738 $ 309 $ 1,919 $ 126 Denominator Number of shares used in basic computation 11,895,367 900,000 11,779,286 900,000 Weighted-average effect of dilutive securities Class B common stock to Class A common stock 900,000 — 900,000 — Exchangeable shares to Class A common stock 1,000,000 — 1,000,000 — Employee stock options 206,989 13,504 547,877 36,046 14,002,356 913,504 14,227,163 936,046 Diluted net income per share $ 0.34 $ 0.34 $ 0.13 $ 0.13 Diluted net income per share above excludes the impact of shares of potential common stock from the exercise of options to purchase 492,611 and 140,416 shares for the three months ended January 31, 2016 and 2015 , respectively, because the effect would be anti-dilutive. These options are excluded because their exercise price exceeds the average market price of the Company's stock for each respective period. Nine Months Ended Nine Months Ended Class A Class B Class A Class B Common Stock Common Stock Common Stock Common Stock (in thousands, except for share and per share amounts) (in thousands, except for share and per share amounts) Basic and diluted net loss per share: Numerator Allocation of undistributed losses $ (11,965 ) $ (905 ) $ (16,778 ) $ (1,275 ) Denominator Weighted-average common shares outstanding 11,894,185 900,000 11,842,288 900,000 Basic and diluted net loss per share $ (1.01 ) $ (1.01 ) $ (1.42 ) $ (1.42 ) Diluted net loss per share above excludes the impact of shares of potential common stock from the exercise of options to purchase 1,073,332 and 1,160,106 shares for the nine months ended January 31, 2016 and 2015 , respectively, because the effect would be anti-dilutive. These options are excluded because the Company has a net loss for each respective periods.

Organization and Significant 23

Organization and Significant Accounting Policies Office Count (Tables)	9 Months Ended
	Jan. 31, 2016
Accounting Policies [Abstract]
Office Count [Table Text Block]	The following table shows the U. S. office activity and the number of Canadian and Company-owned offices for the 2016, 2015 and 2014 tax seasons: Tax Season 2016 2015 2014 U.S. Office Locations: Permanent Office Locations: Operated during the prior tax season 3,764 3,663 3,816 Offices opened 453 397 289 Offices closed (257 ) (296 ) (442 ) Operated during the current tax season 3,960 3,764 3,663 Seasonal Office Locations: Operated during the prior tax season 262 486 427 Offices opened 127 118 334 Offices closed (178 ) (342 ) (275 ) Operated during the current tax season 211 262 486 Processing Centers 54 43 26 Total U.S. Office locations 4,225 4,069 4,175 Canada office locations 262 259 263 Total office locations 4,487 4,328 4,438 Additional office information: Company-owned offices 310 182 216 Franchised offices 4,177 4,146 4,222 Total office locations 4,487 4,328 4,438

Notes and Accounts Receivable (

Notes and Accounts Receivable (Tables)	9 Months Ended
	Jan. 31, 2016
Receivables [Abstract]
Schedule of activity related to notes receivable	Notes and interest receivable are presented in the consolidated balance sheets as follows: January 31, 2016 April 30, 2015 January 31, 2015 (In thousands) Notes receivable - current $ 90,858 $ 24,465 $ 76,233 Notes receivable - non-current 34,374 22,416 29,389 Interest 5,156 1,033 3,989 Total notes and interest receivable $ 130,388 $ 47,914 $ 109,611
Schedule of activity in the allowance for doubtful accounts	Activity in the allowance for doubtful accounts for the three and nine months ended January 31, 2016 and 2015 was as follows: Three Months Ended January 31, Nine Months Ended January 31, 2016 2015 2016 2015 (In thousands) Balance at beginning of period $ 8,075 $ 7,145 $ 7,355 $ 6,850 Provision for doubtful accounts 1,192 1,245 4,589 4,453 Write-offs (1,883 ) (1,131 ) (4,461 ) (4,024 ) Foreign currency adjustment (53 ) (160 ) (152 ) (180 ) Balance at end of period $ 7,331 $ 7,099 $ 7,331 $ 7,099
Schedule of allocation of allowance for doubtful accounts	The allowance for doubtful accounts at January 31, 2016 , April 30, 2015 and January 31, 2015 , was allocated as follows: January 31, 2016 April 30, 2015 January 31, 2015 (In thousands) Impaired: Notes and interest receivable, net of unrecognized revenue $ 6,466 $ 10,921 $ 6,128 Accounts receivable 4,274 7,634 3,478 Less amounts due to ADs and franchisees (727 ) (1,535 ) (416 ) Amounts receivable less amounts due to ADs and franchisees $ 10,013 $ 17,020 $ 9,190 Allowance for doubtful accounts for impaired notes and accounts receivable $ 3,693 $ 6,594 $ 4,709 Non-impaired: Notes and interest receivable, net of unrecognized revenue $ 123,922 $ 36,993 $ 103,483 Accounts receivable 55,591 38,487 46,542 Less amounts due to ADs and franchisees (16,170 ) (25,150 ) (15,186 ) Amounts receivable less amounts due to ADs and franchisees $ 163,343 $ 50,330 $ 134,839 Allowance for doubtful accounts for non-impaired notes and accounts receivable $ 3,638 $ 761 $ 2,390 Total: Notes and interest receivable, net of unrecognized revenue $ 130,388 $ 47,914 $ 109,611 Accounts receivable 59,865 46,121 50,020 Less amounts due to ADs and franchisees (16,897 ) (26,685 ) (15,602 ) Amounts receivable less amounts due to ADs and franchisees $ 173,356 $ 67,350 $ 144,029 Total allowance for doubtful accounts $ 7,331 $ 7,355 $ 7,099
Schedule of aging of accounts and notes receivable	The breakdown of accounts and notes receivable past due at January 31, 2016 was as follows: Past due Current Total receivables (In thousands) Accounts receivable $ 26,359 $ 33,506 $ 59,865 Notes and interest receivable, net of unrecognized revenue 5,988 124,400 130,388 Total accounts, notes and interest receivable $ 32,347 $ 157,906 $ 190,253

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Jan. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Changes in the carrying amount of goodwill for the nine months ended January 31, 2016 and 2015 were as follows: January 31, 2016 January 31, 2015 (In thousands) Balance at beginning of period $ 3,377 $ 2,978 Acquisitions of assets from franchisees 975 330 Disposals and foreign currency changes, net (283 ) (123 ) Impairments — — Balance at end of period $ 4,069 $ 3,185
Schedule of the amortizable other intangible assets	Components of intangible assets were as follows as of January 31, 2016 , April 30, 2015 and January 31, 2015 : January 31, 2016 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 $ (254 ) $ 773 Assets acquired from franchisees: Customer lists 4 years 1,394 (634 ) 760 Reacquired rights 2 years 441 (407 ) 34 AD rights 10 years 16,694 (5,044 ) 11,650 Total intangible assets $ 19,556 $ (6,339 ) $ 13,217 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 January 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 6 years $ 4,816 $ (2,038 ) $ 2,778 Assets acquired from franchisees: Customer lists 4 years 968 (450 ) 518 Reacquired rights 2 years 785 (397 ) 388 AD rights 10 years 17,345 (3,671 ) 13,674 Total intangible assets $ 23,914 $ (6,556 ) $ 17,358
Purchase Price of Assets Acquired from Franchisees	The allocation of the purchase price of assets acquired from franchisees and third parties to intangible assets during the nine months ended January 31, 2016 and 2015 was as follows: Nine Months Ended January 31, 2016 2015 (In thousands) Customer lists and reacquired rights $ 822 $ 1,169 Accounts receivable 320 — Property, equipment, and software 40 — Goodwill 975 330 Total $ 2,157 $ 1,499

Assets Held For Sale (Tables)

Assets Held For Sale (Tables)	9 Months Ended
	Jan. 31, 2016
Assets Held For Sale Disclosure [Abstract]
Rollforward of Assets Held for Sale	Changes in the carrying amount of assets held for sale for the nine months ended January 31, 2016 and 2015 were as follows: Nine Months Ended January 31, 2016 2015 (In thousands) Balance at beginning of period $ 5,160 $ 4,413 Reacquired, acquired from third parties, and other 11,820 6,656 Dispositions (5,816 ) (5,456 ) Balance at end of period $ 11,164 $ 5,613

Debt (Tables)

Debt (Tables)	9 Months Ended
	Jan. 31, 2016
Debt Disclosure [Abstract]
Schedule of debt	Debt at January 31, 2016 , April 30, 2015 , and January 31, 2015 consisted of the following: January 31, 2016 April 30, 2015 January 31, 2015 (In thousands) Credit Facility: Revolver $ 150,682 $ — $ 110,762 Term loan 19,789 20,453 20,984 170,471 20,453 131,746 Amounts due to former ADs and mortgages 3,963 4,944 4,901 174,434 25,397 136,647 Less: current portion (5,220 ) (3,934 ) (4,107 ) Long-term debt $ 169,214 $ 21,463 $ 132,540

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Jan. 31, 2016
Equity [Abstract]
Schedule of activity in stockholders' equity	During the nine months ended January 31, 2016 and 2015 , activity in stockholders’ equity was as follows: Nine Months Ended January 31, 2016 2015 (in thousands, except for share amounts) Class A common shares issued from the exercise of stock options 132,510 629,633 Class A common shares issued from the vesting of restricted stock and as Board of Directors compensation 14,293 17,495 Proceeds from exercise of stock options $ 1,998 $ 10,053 Stock-based compensation expense $ 1,348 $ 2,002 Class A common shares repurchased 82,355 1,270,661 Payments for repurchased shares $ 1,977 $ 35,910 Tax benefit of stock option exercises $ 933 $ 4,776 Dividends declared $ 6,629 $ —
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	The components of accumulated other comprehensive loss at January 31, 2016 , April 30, 2015 and January 31, 2015 were as follows. January 31, 2016 April 30, 2015 January 31, 2015 (In thousands) Foreign currency adjustment $ (2,060 ) $ (697 ) $ (1,442 ) Unrealized loss on available-for-sale securities, net of taxes of $208, $-, and $-, respectively (347 ) — — Forward contracts related to foreign currency exchange rates (23 ) — 271 Total accumulated other comprehensive loss $ (2,430 ) $ (697 ) $ (1,171 )
Schedule of computation of basic and diluted net income (loss) per share	The computation of basic and diluted net income (loss) per share for the three and nine months ended January 31, 2016 and 2015 is as follows: Three Months Ended Three Months Ended Class A Class B Class A Class B Common Stock Common Stock Common Stock Common Stock (in thousands, except for share and per (in thousands, except for share and per Basic net income per share: Numerator Allocation of undistributed income $ 4,405 $ 333 $ 1,783 $ 136 Amounts allocated to participating securities: Exchangeable shares (319 ) (24 ) (130 ) (10 ) Net income attributable to common stockholders $ 4,086 $ 309 $ 1,653 $ 126 Denominator Weighted-average common shares outstanding 11,895,367 900,000 11,779,286 900,000 Basic net income per share $ 0.34 $ 0.34 $ 0.14 $ 0.14 Diluted net income per share: Numerator Allocation of undistributed earnings for basic computation $ 4,086 $ 309 $ 1,653 $ 126 Reallocation of undistributed earnings as a result of assumed conversion of: Class B common stock to Class A common stock 309 — 126 — Exchangeable shares to Class A common stock 343 — 140 — $ 4,738 $ 309 $ 1,919 $ 126 Denominator Number of shares used in basic computation 11,895,367 900,000 11,779,286 900,000 Weighted-average effect of dilutive securities Class B common stock to Class A common stock 900,000 — 900,000 — Exchangeable shares to Class A common stock 1,000,000 — 1,000,000 — Employee stock options 206,989 13,504 547,877 36,046 14,002,356 913,504 14,227,163 936,046 Diluted net income per share $ 0.34 $ 0.34 $ 0.13 $ 0.13 Diluted net income per share above excludes the impact of shares of potential common stock from the exercise of options to purchase 492,611 and 140,416 shares for the three months ended January 31, 2016 and 2015 , respectively, because the effect would be anti-dilutive. These options are excluded because their exercise price exceeds the average market price of the Company's stock for each respective period. Nine Months Ended Nine Months Ended Class A Class B Class A Class B Common Stock Common Stock Common Stock Common Stock (in thousands, except for share and per share amounts) (in thousands, except for share and per share amounts) Basic and diluted net loss per share: Numerator Allocation of undistributed losses $ (11,965 ) $ (905 ) $ (16,778 ) $ (1,275 ) Denominator Weighted-average common shares outstanding 11,894,185 900,000 11,842,288 900,000 Basic and diluted net loss per share $ (1.01 ) $ (1.01 ) $ (1.42 ) $ (1.42 )

Stock Compensation Plans (Table

Stock Compensation Plans (Tables)	9 Months Ended
	Jan. 31, 2016
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 January 31, 2016 : 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 9,650 $ 10.50 0.2 9,650 $ 10.50 15.00 515,617 15.00 1.8 515,617 15.00 16.38 - 19.75 264,876 17.94 3.9 189,876 17.89 22.18 - 29.48 405,387 24.83 5.9 35,000 26.18 33.38 - 33.79 65,416 33.38 5.8 28,750 33.38 1,260,946 19.70 778,893 16.83
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	Restricted stock activity during the nine months ended January 31, 2016 was as follows: Number of Restricted stock units Weighted average fair value at grant date Balance at beginning of period 28,929 $ 30.63 Granted 32,056 23.06 Vested (13,394 ) 27.99 Forfeited (3,798 ) 28.46 Balance at end of period 43,793 26.09
Schedule of stock option activity	Stock option activity during the nine months ended January 31, 2016 was as follows: Number of options Weighted average exercise price Balance at beginning of period 1,343,559 $ 19.28 Granted 200,387 22.95 Exercised (132,510 ) 15.09 Expired or forfeited (150,490 ) 24.39 Balance at end of period 1,260,946 19.70
Schedule of nonvested (options that did not vest in the period in which granted) stock option activity	Nonvested stock options activity during the nine months ended January 31, 2016 was as follows: Nonvested options Weighted average exercise price Balance at beginning of period 385,416 $ 27.56 Granted 200,387 22.95 Vested (53,750 ) 33.57 Forfeited (50,000 ) 33.79 Balance at end of period 482,053 24.33

Fair Value of Financial Instr30

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Jan. 31, 2016
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	The following tables present, at January 31, 2016 , April 30, 2015 and January 31, 2015 , 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): January 31, 2016 Fair value measurements using Total Level 1 Level 2 Level 3 Assets: Recurring: Available-for-sale equity security $ 4,444 $ 4,444 $ — $ — Forward contract related to foreign currency exchange rates 23 — 23 — Nonrecurring: Impaired accounts and notes receivable 8,525 — — 8,525 Total recurring and nonrecurring assets $ 12,992 $ 4,444 $ 23 $ 8,525 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 January 31, 2015 Fair value measurements using Total Level 1 Level 2 Level 3 Assets: Recurring: Forward contracts related to foreign currency exchange rates $ 271 $ — $ 271 $ — Nonrecurring: Impaired accounts and notes receivable 4,897 — — 4,897 Total recurring and nonrecurring assets $ 5,168 $ — $ 271 $ 4,897

Organization and Significant 31

Organization and Significant Accounting Policies (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2016USD ($)	Jan. 31, 2015USD ($)	Jan. 31, 2016USD ($)office	Jan. 31, 2015USD ($)office	Jan. 31, 2014office
Geographical concentration
Revenues	$ 53,621	$ 47,680	$ 69,015	$ 63,253
UNITED STATES
Geographical concentration
Significant Changes, New Territories | office			180	160	132
CANADA
Geographical concentration
Revenues	$ 301	$ 200	$ 1,639	$ 1,400

Organization and Significant 32

Organization and Significant Accounting Policies Office Count (Details) - office	9 Months Ended
	Jan. 31, 2016	Jan. 31, 2015	Jan. 31, 2014	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2013
office count [Line Items]
Significant Changes, Franchised Outlets in Operation	4,487			4,328	4,438
UNITED STATES
office count [Line Items]
Significant Changes, Franchised Outlets in Operation	4,225			4,069	4,175
CANADA
office count [Line Items]
Significant Changes, Franchised Outlets in Operation	262			259	263
SiempreTax [Member] | UNITED STATES
office count [Line Items]
Significant Changes, Franchised Outlets in Operation	144	57
Seasonal Office [Member] | UNITED STATES
office count [Line Items]
Significant Changes, Franchised Outlets in Operation	211			262	486	427
Significant Changes, Franchises Opened	127	118	334
Significant Changes, Franchises Closed	(178)	(342)	(275)
Processing Center [Member] | UNITED STATES
office count [Line Items]
Significant Changes, Franchised Outlets in Operation	54			43	26
Company Owned [Member]
office count [Line Items]
Significant Changes, Franchised Outlets in Operation	310			182	216
Permanent Office [Member] | UNITED STATES
office count [Line Items]
Significant Changes, Franchised Outlets in Operation	3,960			3,764	3,663	3,816
Significant Changes, Franchises Opened	453	397	289
Significant Changes, Franchises Closed	(257)	(296)	(442)
Franchise Owned [Member]
office count [Line Items]
Significant Changes, Franchised Outlets in Operation	4,177			4,146	4,222

Accounts and Notes Receivables

Accounts and Notes Receivables - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Jan. 31, 2016	Apr. 30, 2014	Apr. 30, 2013	Apr. 30, 2015	Jan. 31, 2015
Schedule of Activity Related to Notes Receivable
Notes, Loans and Financing Receivable, Gross, Current	$ 90,858			$ 24,465	$ 76,233
Notes, Loans and Financing Receivable, Gross, Noncurrent	34,374			22,416	29,389
Interest Receivable, Current	5,156			1,033	3,989
Notes receivable, net of unrecognized revenue:	130,388			47,914	109,611
Activity related to notes receivable
Amounts payable to area developers for their share of receivables	16,258			24,340	14,980
Developer rights term		6 years	10 years
Unrecognized Revenue	$ 40,700			$ 38,600	42,000
Accounts and Notes Receivable, Unfunded Lending Commitments for Working Capital Loans to Franchisees and Area Developers					$ 10,166
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		9 Months Ended
	Jan. 31, 2016	Jan. 31, 2015	Jan. 31, 2016	Jan. 31, 2015	Oct. 31, 2015	Apr. 30, 2015	Oct. 31, 2014	Apr. 30, 2014
Financing Receivable, Allowance for Credit Losses [Line Items]
Unrecognized Revenue	$ 40,700	$ 42,000	$ 40,700	$ 42,000		$ 38,600
Impaired Financing Receivable, Average Recorded Investment			8,694	7,328
Accounts and Notes Receivable, Allowance for Uncollected Interest Amounts Due ADs Related Deferred Revenue and Amounts Due Franchisees	16,897	15,602	16,897	15,602		26,685
Accounts and Notes Receivable, Net	173,356	144,029	173,356	144,029		67,350
Allowance for Doubtful Accounts Receivable Additions Charged to Expenses	1,192	1,245	4,589	4,453
Allowance for Doubtful Accounts Receivable, Write-offs	(1,883)	(1,131)	(4,461)	(4,024)
Allowance for Doubtful Accounts Receivable Foreign Currency Adjustment	(53)	(160)	(152)	(180)
Allowance for Doubtful Accounts Receivable	7,331	7,099	7,331	7,099	$ 8,075	7,355	$ 7,145	$ 6,850
Accounts and Notes Receivable, Unfunded Lending Commitments for Working Capital Loans to Franchisees and Area Developers		10,166		10,166
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	727	416	727	416		1,535
Accounts and Notes Receivable, Net	10,013	9,190	10,013	9,190		17,020
Allowance for Doubtful Accounts Receivable, Current	3,693	4,709	3,693	4,709		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	16,170	15,186	16,170	15,186		25,150
Accounts and Notes Receivable, Net	163,343	134,839	163,343	134,839		50,330
Allowance for Doubtful Accounts Receivable, Current	3,638	2,390	3,638	2,390		761
Notes Receivable [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Accounts and Notes Receivable Gross	130,388	109,611	130,388	109,611		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	6,466	6,128	6,466	6,128		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	123,922	103,483	123,922	103,483		36,993
Trade Accounts Receivable [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Accounts and Notes Receivable Gross	59,865	50,020	59,865	50,020		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	4,274	3,478	4,274	3,478		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	$ 55,591	$ 46,542	$ 55,591	$ 46,542		$ 38,487

Analysis of Past Due Receivable

Analysis of Past Due Receivables - USD ($) $ in Thousands	9 Months Ended
	Jan. 31, 2016	Apr. 30, 2015	Jan. 31, 2015
Aging of accounts and notes receivable
Past due	$ 32,347
Current	157,906
Total receivables	190,253
Accounts receivable
Aging of accounts and notes receivable
Past due	26,359
Current	33,506
Total receivables	$ 59,865
Past due period	30 days
Notes receivable
Aging of accounts and notes receivable
Past due	$ 5,988
Current	124,400
Total receivables	$ 130,388
Past due period	90 days
Financing Receivable, Recorded Investment, Nonaccrual Status	$ 5,988	$ 9,327	$ 6,700

Changes in the Carrying Amount

Changes in the Carrying Amount of Goodwill - USD ($) $ in Thousands	9 Months Ended
	Jan. 31, 2016	Jan. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, Balance at Beginning of Period	$ 3,377	$ 2,978
Acquisitions of assets from franchisees	975	330
Goodwill, Disposals and foreign currency changes, net	(283)	(123)
Goodwill Impairments, Gross	0	0
Goodwill, Balance at End of Period	$ 4,069	$ 3,185

Components of Intangible Assets

Components of Intangible Assets - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Jan. 31, 2016	Jan. 31, 2015	Apr. 30, 2015
Amortizable other intangible assets:
Gross carrying amount	$ 19,556	$ 23,914	$ 19,690
Accumulated amortization	(6,339)	(6,556)	(5,018)
Net carrying amount	$ 13,217	$ 17,358	$ 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	(254)	(2,038)	0
Net carrying amount	$ 773	$ 2,778	$ 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	$ 1,394	$ 968	$ 759
Accumulated amortization	(634)	(450)	(441)
Net carrying amount	$ 760	$ 518	$ 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	$ 441	$ 785	$ 559
Accumulated amortization	(407)	(397)	(473)
Net carrying amount	$ 34	$ 388	$ 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	$ 16,694	$ 17,345	$ 17,345
Accumulated amortization	(5,044)	(3,671)	(4,104)
Net carrying amount	11,650	$ 13,674	$ 13,241
Assets Held-for-sale [Member]
Amortizable other intangible assets:
Net carrying amount	$ 17,358

Purchase Price of Assets Acquir

Purchase Price of Assets Acquired from Franchisees - USD ($) $ in Thousands	9 Months Ended
	Jan. 31, 2016	Jan. 31, 2015
Goodwill [Line Items]
Finite-lived Intangible Assets Acquired	$ 1,499
CANADA
Goodwill [Line Items]
Finite-lived Intangible Assets Acquired	2,157	$ 1,499
CANADA | Customer Lists and Reacquired Rights [Member]
Goodwill [Line Items]
Finite-lived Intangible Assets Acquired	822	1,169
CANADA | Accounts Receivable [Member]
Goodwill [Line Items]
Finite-lived Intangible Assets Acquired	320	0
CANADA | Property, Plant and Equipment [Member]
Goodwill [Line Items]
Finite-lived Intangible Assets Acquired	40	0
CANADA | Goodwill
Goodwill [Line Items]
Finite-lived Intangible Assets Acquired	$ 975	$ 330

Goodwill and Intangible Asset39

Goodwill and Intangible Assets Goodwill and Intangible Assets (Textuals) (Details) - USD ($) $ in Thousands	9 Months Ended
	Jan. 31, 2016	Jan. 31, 2015
Goodwill [Line Items]
Finite-lived Intangible Assets Acquired	$ 1,499
CANADA
Goodwill [Line Items]
Finite-lived Intangible Assets Acquired	$ 2,157	$ 1,499

Assets Held For Sale Narrative

Assets Held For Sale Narrative (Details) - USD ($) $ in Thousands	9 Months Ended
	Jan. 31, 2016	Jan. 31, 2015
Finite-lived Intangible Assets Acquired	$ 1,499
Finite-lived Intangible Assets Reacquired and Acquired	11,820	$ 6,656
UNITED STATES
Finite-lived Intangible Assets Acquired	11,509
Customer Lists and Reacquired Rights [Member] | UNITED STATES
Finite-lived Intangible Assets Acquired	5,200	3,200
Goodwill [Member] | UNITED STATES
Finite-lived Intangible Assets Acquired	$ 6,300	$ 3,500

Assets Held For Sale Carrying A

Assets Held For Sale Carrying Amount of Assets HFS (table) (Details) - USD ($) $ in Thousands	9 Months Ended
	Jan. 31, 2016	Jan. 31, 2015	Apr. 30, 2015	Apr. 30, 2014
Property, Plant and Equipment [Line Items]
Assets Held for Sale	$ 11,164	$ 5,613	$ 5,160	$ 4,413
Finite-lived Intangible Assets Reacquired and Acquired	11,820	6,656
finite-lived intangible assets disposed	$ (5,816)	$ (5,456)

Debt (Details)

Debt (Details) $ in Thousands	9 Months Ended
	Jan. 31, 2016USD ($)	Apr. 30, 2015USD ($)	Jan. 31, 2015USD ($)
Credit facility
Total debt	$ 174,434	$ 25,397	$ 136,647
Less: current portion	(5,220)	(3,934)	(4,107)
Long-term debt	169,214	21,463	$ 132,540
Days to Have Zero Debt			45
Revolver
Credit facility
Maximum borrowing capacity	203,800
Line of credit facility, increased availability	50,000
Total debt	$ 150,682	0	$ 110,762
Outstanding Balance	zero
Term loan
Credit facility
Maximum borrowing capacity	$ 21,200
Total debt	$ 19,789	20,453	$ 20,984
Credit facility
Credit facility
Interest rate (as a percent)	2.05%		1.79%
Total debt	$ 170,471	20,453	$ 131,746
Line of Credit Facility, Average Interest Rate Paid	1.84%		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	$ 3,963	$ 4,944	$ 4,901

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Jan. 31, 2016	Jan. 31, 2015	Jan. 31, 2016	Jan. 31, 2015	Apr. 30, 2015
Stockholders' Equity
Available-for-sale Securities, Income Tax Expense on Change in Unrealized Holding Gain (Loss)			$ 208,000	$ 0	$ 0
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax	$ (2,060)	$ (1,442)	(2,060)	(1,442)	(697)
Unrealized Loss on Securities			(347)	0	0
Proceeds from the exercise of stock options			1,998	10,053
Stock-based compensation expense			1,348	2,002
Payments for repurchased shares			1,977	35,910
Tax benefit of stock option exercises			933	4,776
Payments of Ordinary Dividends			6,629	0
Accumulated Other Comprehensive Income (Loss), Net of Tax	(2,430)	(1,171)	(2,430)	(1,171)	(697)
Net Income (loss)	$ 4,738	$ 1,919	$ (12,870)	$ (18,053)
Earnings Per Share, Basic	$ 0.34	$ 0.14	$ (1.01)	$ (1.42)
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	492,611	140,416	1,073,332	1,160,106
Net Income (Loss) Available to Common Stockholders, Basic	$ 4,395	$ 1,779	$ (12,870)	$ (18,053)
Weighted Average Number of Shares Outstanding, Diluted	14,002,356	14,227,163	12,794,185	12,742,288
Weighted-average shares outstanding basic	12,795,367	12,679,286	12,794,185	12,742,288
Earnings Per Share, Diluted	$ 0.34	$ 0.13	$ (1.01)	$ (1.42)
Investment Owned, Foreign Currency Contract, Current Value	$ (23)	$ 271	$ (23)	$ 271	$ 0
Class A common stock
Stockholders' Equity
Earnings Per Share, Basic and Diluted			$ (1.01)	$ (1.42)
Net Income (Loss) Available to Common Stockholders, Diluted	$ 4,738	$ 1,919
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	206,989	547,877
Class A common shares issued from the exercise of stock options			133,000	630,000
Class A common shares issued from the vesting of restricted stock and as Board of Directors compensation			14,000	17,000
Class A common shares repurchased			82,000	1,271,000
Net Income (loss)	$ 4,405	$ 1,783	$ (11,965)	$ (16,778)
Weighted Average Number of Shares Outstanding, Basic and Diluted			11,894,185	11,842,288
Earnings Per Share, Basic	$ 0.34	$ 0.14
Antidilutive securities
Net Income (Loss) Available to Common Stockholders, Basic	$ 4,086	$ 1,653
Weighted Average Number of Shares Outstanding, Diluted	14,002,356	14,227,163
Weighted-average shares outstanding basic	11,895,367	11,779,286
Earnings Per Share, Diluted	$ 0.34	$ 0.13
Amount of Dilutive Securities Class B Common Stock	$ 309	$ 126
Amount of Dilutive Securities Exchangeable Shares	343	140
Dilutive Securities, Effect on Basic Earnings Per Share	$ (319)	$ (130)
Incremental Common Shares Attributably to Conversion of Class B Common Stock	900,000	900,000
Incremental Common Shares Attributable to Conversion of Exchangeable Shares	1,000,000	1,000,000
Class B common stock
Stockholders' Equity
Earnings Per Share, Basic and Diluted			$ (1.01)	$ (1.42)
Net Income (Loss) Available to Common Stockholders, Diluted	$ 309	$ 126
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	13,504	36,046
Net Income (loss)	$ 333	$ 136	$ (905)	$ (1,275)
Weighted Average Number of Shares Outstanding, Basic and Diluted			900,000	900,000
Earnings Per Share, Basic	$ 0.34	$ 0.14
Antidilutive securities
Net Income (Loss) Available to Common Stockholders, Basic	$ 309	$ 126
Weighted Average Number of Shares Outstanding, Diluted	913,504	936,046
Weighted-average shares outstanding basic	900,000	900,000
Earnings Per Share, Diluted	$ 0.34	$ 0.13
Amount of Dilutive Securities Class B Common Stock	$ 0	$ 0
Amount of Dilutive Securities Exchangeable Shares	0	0
Dilutive Securities, Effect on Basic Earnings Per Share	$ (24)	$ (10)
Incremental Common Shares Attributably to Conversion of Class B Common Stock	0	0
Incremental Common Shares Attributable to Conversion of Exchangeable Shares	0	0

Stock Compensation Plans (Detai

Stock Compensation Plans (Details)	9 Months Ended
	Jan. 31, 2016USD ($)$ / sharesshares
Stock Option
Stock compensation plan
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price | $ / shares	$ 16.83
Total intrinsic value of options exercised | $	$ 729,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $	4,360,616
Unrecognized compensation costs | $	$ 2,364,000
Stock option activity, Number of options
Outstanding at the beginning of the period (in shares)	1,343,559
Exercised (in shares)	(132,510)
Canceled (in shares)	(150,490)
Outstanding at the end of the period (in shares)	1,260,946
Stock option activity, Weighted average exercise price
Outstanding at the beginning of the period (in dollars per share) | $ / shares	$ 19.28
Granted (in dollars per share) | $ / shares	22.95
Exercised (in dollars per share) | $ / shares	15.09
Canceled (in dollars per share) | $ / shares	24.39
Outstanding at the end of the period (in dollars per share) | $ / shares	$ 19.70
Nonvested stock option activity, Nonvested options
Granted (in shares)	200,387
Nonvested stock option activity, Weighted average exercise price
Outstanding at the beginning of the period (in dollars per share) | $ / shares	$ 27.56
Granted (in dollars per share) | $ / shares	22.95
Vested (in dollars per share) | $ / shares	33.57
Canceled (in dollars per share) | $ / shares	33.79
Outstanding at the end of the period (in dollars per share) | $ / shares	$ 24.33
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
Nonvested Stock Option [Member]
Nonvested stock option activity, Nonvested options
Outstanding at the beginning of the period (in shares)	385,416
Granted (in shares)	200,387
Vested (in shares)	(53,750)
Canceled (in shares)	(50,000)
Outstanding at the end of the period (in shares)	482,053
Restricted Stock Units
Stock compensation plan
Unrecognized compensation costs | $	$ 719,000
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)	1,380,602

Stock Compensation Plans (Det45

Stock Compensation Plans (Details 2) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Jan. 31, 2016	Apr. 30, 2015
Employee Stock Option [Member]
Stock options outstanding and exercisable
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 2,364
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	1,260,946	1,343,559
Weighted average exercise price (in dollars per share)	$ 19.70
Number of shares exercisable at the end of the period	778,893
Weighted average exercise price (in dollars per share)	$ 16.83
Employee Stock Option [Member] | $10.50
Stock options outstanding and exercisable
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	9,650
Weighted average exercise price (in dollars per share)	$ 10.50
Weighted average remaining contractual life	2 months
Number of shares exercisable at the end of the period	9,650
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	515,617
Weighted average exercise price (in dollars per share)	$ 15
Weighted average remaining contractual life	1 year 9 months
Number of shares exercisable at the end of the period	515,617
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	264,876
Weighted average exercise price (in dollars per share)	$ 17.94
Weighted average remaining contractual life	3 years 11 months
Number of shares exercisable at the end of the period	189,876
Weighted average exercise price (in dollars per share)	$ 17.89
Employee Stock Option [Member] | $16.38
Stock options outstanding and exercisable
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	405,387
Weighted average exercise price (in dollars per share)	$ 24.83
Weighted average remaining contractual life	5 years 11 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	65,416
Weighted average exercise price (in dollars per share)	$ 33.38
Weighted average remaining contractual life	5 years 9 months
Number of shares exercisable at the end of the period	28,750
Weighted average exercise price (in dollars per share)	$ 33.38
Restricted Stock Units
Stock options outstanding and exercisable
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 719
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)	22.18
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	9 Months Ended
	Jan. 31, 2016	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	32,056
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	43,793	28,929
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted, Weighted Average Grant Date Fair Value	$ 23.06
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	13,394
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	$ 27.99
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations	3,798
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations, Weighted Average Grant Date Fair Value	$ 28.46
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Weighted Average Grant Date Fair Value	$ 26.09	$ 30.63

Fair Value of Financial Instr47

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Jan. 31, 2016	Apr. 30, 2015	Jan. 31, 2015
Assets:
Total recurring and nonrecurring assets	$ 12,992	$ 36,805	$ 5,168
Level 1
Assets:
Total recurring and nonrecurring assets	4,444	16,975	0
Level 2
Assets:
Total recurring and nonrecurring assets	23	0	271
Level 3
Assets:
Total recurring and nonrecurring assets	8,525	19,830	4,897
Nonrecurring
Assets:
Impaired accounts and notes receivable	8,525	11,961	4,897
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	8,525	11,961	4,897
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
Fair value of financial instruments
Foreign Currency Contract, Asset, Fair Value Disclosure	23		271
Assets:
Cash equivalents, money market account		16,975
Recurring | Level 1
Fair value of financial instruments
Foreign Currency Contract, Asset, Fair Value Disclosure	0		0
Assets:
Cash equivalents, money market account		16,975
Recurring | Level 2
Fair value of financial instruments
Foreign Currency Contract, Asset, Fair Value Disclosure	23		271
Assets:
Cash equivalents, money market account		0
Recurring | Level 3
Fair value of financial instruments
Foreign Currency Contract, Asset, Fair Value Disclosure	0		$ 0
Assets:
Cash equivalents, money market account		$ 0
Equity Securities [Member] | Recurring | Level 1
Fair value of financial instruments
Available-for-sale Securities	4,444
Equity Securities [Member] | Recurring | Level 2
Fair value of financial instruments
Available-for-sale Securities	0
Equity Securities [Member] | Recurring | Level 3
Fair value of financial instruments
Available-for-sale Securities	$ 0

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Jan. 31, 2016	Jan. 31, 2015	Apr. 30, 2015
Related Party Transaction [Line Items]
License Costs	$ 1,499
CANADA
Related Party Transaction [Line Items]
License Costs	2,157	$ 1,499
Directors and Affiliated Companies and Officers [Member]
Related Party Transaction [Line Items]
Treasury Stock, Shares		993,852
Treasury Stock, Value		$ 26,600
Directors and Affiliated Companies and Officers [Member] | Cloud and Mobile Accounting Solutions [Domain]
Related Party Transaction [Line Items]
License Costs	14		$ 250
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 ($)	Apr. 25, 2016	Jun. 30, 2015	Sep. 30, 2014	Sep. 30, 2013	Jun. 30, 2012	Jan. 31, 2016	Jan. 31, 2015	Jan. 31, 2016	Jan. 31, 2015
Commitments and contingencies
Dividends declared per share of common stock and common stock equivalents						$ 0.16	$ 0	$ 0.48	$ 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
Subsequent Event [Member]
Commitments and contingencies
Dividends declared per share of common stock and common stock equivalents	$ 0.16

Investments investments (Detail

Investments investments (Details) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Jan. 31, 2016	Jan. 31, 2015	Apr. 30, 2015
Schedule of Available-for-sale Securities [Line Items]
Payments to Acquire Available-for-sale Securities	$ 4,999	$ 0
Unrealized Loss on Securities	347	$ 0	$ 0
Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Payments to Acquire Available-for-sale Securities	$ 4,999

Forward Contracts (Details)

Forward Contracts (Details) - USD ($)	Jan. 31, 2016	Apr. 30, 2015	Jan. 31, 2015
Foreign Currency [Abstract]
Fair Value, Concentration of Risk, Foreign Currency Contract, Liability	$ 23,000
Fair Value, Concentration of Risk, Foreign Currency Contract, Asset		$ 0	$ 271,000