Franchise (TAX) 10-Q 9 Dec 16 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Oct. 31, 2016	Nov. 30, 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	Oct. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--04-30
Entity Filer Category	Accelerated Filer
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Common Class A [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		12,710,831
Common Class B [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		200,000

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Oct. 31, 2016	Apr. 30, 2016	Oct. 31, 2015
Current assets:
Cash and cash equivalents	$ 3,739	$ 9,906	$ 3,963
Receivables:
Accounts receivable	37,967	49,908	30,610
Notes receivable - current	43,658	26,710	43,815
Interest receivable	3,777	1,944	3,198
Allowance for doubtful accounts - current	(6,852)	(6,840)	(6,184)
Total current receivables, net	78,550	71,722	71,439
Assets Held for Sale	18,083	9,886	9,658
Income taxes receivable	15,936	0	17,473
Deferred income tax asset	3,192	3,496	3,727
Other current assets	3,196	5,838	2,384
Total current assets	122,696	100,848	108,644
Property, equipment, and software, net of accumulated depreciation of $24,746, $21,052 and $18,799, respectively	41,487	40,957	39,695
Notes, Loans and Financing Receivable, Gross, Noncurrent	26,897	25,514	25,090
Allowance for Doubtful Accounts Receivable, Noncurrent	(2,139)	(2,010)	(1,891)
Notes, Loans and Financing Receivable, Net, Noncurrent	24,758	23,504	23,199
Goodwill	4,124	4,228	3,157
Other intangible assets, net	16,966	16,270	14,002
Other assets	3,274	7,416	3,480
Total assets	213,305	193,223	192,177
Current liabilities:
Current installments of long-term obligations	3,663	5,947	4,922
Accounts payable and accrued expenses	8,505	11,664	9,166
Due to area developers (ADs)	9,210	24,977	8,138
Income taxes payable	0	3,581	0
Deferred revenue - current	4,455	4,682	6,265
Total current liabilities	25,833	50,851	28,491
Long-term obligations, excluding current installments, net of debt issuance costs of $80, $108 and $136, respectively	17,068	17,493	17,985
Revolving credit facility	66,635	0	57,301
Deferred revenue - non-current	5,905	7,056	7,655
Deferred income tax liability	9,107	6,322	4,747
Total liabilities	124,548	81,722	116,179
Stockholders’ equity:
Additional paid-in capital	7,781	7,153	4,115
Accumulated other comprehensive loss, net of taxes	(1,850)	(1,698)	(1,572)
Retained earnings	82,687	105,907	73,317
Total stockholders’ equity	88,757	111,501	75,998
Total liabilities and stockholders’ equity	213,305	193,223	192,177
Special voting preferred stock
Stockholders’ equity:
Preferred stock	0	0	0
Class A common stock
Stockholders’ equity:
Common stock	127	120	119
Class B common stock
Stockholders’ equity:
Common stock	2	9	9
Exchangeable shares
Stockholders’ equity:
Common stock	$ 10	$ 10	$ 10

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Oct. 31, 2016	Apr. 30, 2016	Oct. 31, 2015
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ 24,746,000	$ 21,052,000	$ 18,799,000
Finite-Lived Intangible Assets, Accumulated Amortization	7,640,000	6,866,000	5,846,000
unamortized debt issuance costs	$ (80,000)	$ (108,000)	$ (136,000)
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	12,709,355	11,993,292	11,870,187
Common stock, shares outstanding	12,709,355	11,993,292	11,870,187
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	200,000	900,000	900,000
Common stock, shares outstanding	200,000	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
Reclassification of Debt Issuance Costs [Member]
unamortized debt issuance costs	$ 0	$ 0	$ 0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015
Revenues:
Franchise fees	$ 364	$ 906	$ 604	$ 1,514
Area Developer fees	1,147	1,524	2,117	3,128
Royalties and advertising fees	1,329	1,273	2,784	3,018
Financial products	247	207	783	515
Interest income	2,596	2,309	5,254	4,315
Tax preparation fees, net of discounts	863	339	1,920	962
Other revenue	688	1,313	921	1,942
Total revenue	7,234	7,871	14,383	15,394
Operating expenses:
Employee compensation and benefits	8,914	8,183	18,596	16,816
Selling, general, and administrative expenses	9,207	8,752	17,486	16,512
Area Developer expense	561	656	1,021	1,381
Advertising expense	1,496	2,490	3,414	5,100
Depreciation, amortization, and impairment charges	1,815	1,838	3,827	3,507
Total operating expenses	21,993	21,919	44,344	43,316
Loss from operations	(14,759)	(14,048)	(29,961)	(27,922)
Other income (expense):
Foreign currency transaction loss	(17)	0	(25)	(25)
Available-for-sale Securities, Gross Realized Gain (Loss)	0	0	50	0
Interest expense	(732)	(486)	(1,076)	(887)
Loss before income taxes	(15,508)	(14,534)	(31,012)	(28,834)
Income tax benefit	(6,166)	(5,464)	(12,240)	(11,228)
Net loss	$ (9,342)	$ (9,070)	$ (18,772)	$ (17,606)
Net loss per share of Class A and Class B common stock:
Earnings Per Share, Basic and Diluted	$ (0.72)	$ (0.71)	$ (1.46)	$ (1.38)
Weighted Average Number of Shares Outstanding, Basic and Diluted	12,901,955	12,775,565	12,898,347	12,793,593
Dividends declared per share of common stock and common stock equivalents	$ 0.16	$ 0.16	$ 0.32	$ 0.32
Common Class B [Member]
Net loss per share of Class A and Class B common stock:
Earnings Per Share, Basic and Diluted	$ (0.72)	$ (0.71)	$ (1.46)	$ (1.38)
Weighted Average Number of Shares Outstanding, Basic and Diluted	234,783	900,000	329,348	900,000

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax	$ 0	$ 0	$ 580	$ 0
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax	0	0	30	0
Net loss	(9,342)	(9,070)	(18,772)	(17,606)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax	(271)	(117)	(702)	(874)
Comprehensive loss	$ (9,613)	$ (9,187)	$ (18,924)	$ (18,480)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Comprehensive Loss parentheticals - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Tax	$ 0	$ 0	$ 0	$ 0
Other Comprehensive Income (Loss), Available-for-sale Securities, before Reclassification Adjustments, Tax	$ 0	$ 0	$ 0	$ 0

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
Cash flows from operating activities:
Net loss	$ (18,772)	$ (17,606)
Adjustments to reconcile net loss to net cash used in operating activities:
Provision for doubtful accounts	3,287	3,396
Depreciation, amortization, and impairment charges	3,827	3,507
Stock-based compensation expense	1,061	866
Share-based Compensation Related To The Liability Classified Awards	(50)	0
Loss (gain) on bargain purchases and sales of Company-owned offices	59	(388)
Deferred tax expense	2,635	5,578
Increase (Decrease) in Income Taxes Payable	(19,858)	(19,620)
Changes in other assets and liabilities	(11,198)	(13,052)
Net cash used in operating activities	(39,009)	(37,319)
Cash flows from investing activities:
Issuance of operating loans to franchisees	(23,865)	(26,326)
Payments received on operating loans to franchisees	1,766	1,316
Purchases of AD rights and Company-owned offices	(5,672)	(1,341)
Proceeds from sale of Company-owned offices and AD rights	983	2,569
Proceeds from Sale of Available-for-sale Securities	5,049	0
Purchases of property, equipment and software	(3,092)	(5,464)
Net cash used in investing activities	(24,831)	(29,246)
Cash flows from financing activities:
Proceeds from the exercise of stock options	0	344
Repurchase of common stock	(39)	(1,711)
Payments of Ordinary Dividends	(4,448)	(4,415)
Repayments of Amounts Due to Former ADs	(1,158)	(2,318)
Repayment of long-term obligations	(3,169)	(308)
Borrowings under revolving credit facility	66,809	57,668
Repayments under revolving credit facility	(174)	(367)
Tax effect of stock option exercises	60	532
Net cash provided by financing activities	57,881	49,425
Effect of exchange rate changes on cash, net	(208)	(284)
Net decrease in cash and cash equivalents	(6,167)	(17,424)
Cash and cash equivalents at beginning of period	9,906	21,387
Cash and cash equivalents at end of period	3,739	3,963
Supplemental disclosures of cash flow information:
Cash paid for interest, net of capitalized interest of $106 and $140, respectively	890	527
Cash paid for taxes, net of refunds	4,923	2,282
Capital Expenditures Incurred but Not yet Paid	40	350
During the six months ended October 31, 2016 and 2015, the Company acquired certain assets from ADs, franchisees, and third parties as follows:
Fair value of assets purchased	17,171	8,506
Receivables applied, net of amounts due ADs and related deferred revenue	(8,009)	(6,490)
Business Combination, Bargain Purchase, Gain Recognized, Amount	(210)	(383)
Notes and accounts payable issued	(3,280)	(292)
Cash paid to ADs, franchisees and third parties	5,672	1,341
During the six months ended October 31, 2016 and 2015, the Company sold certain assets to ADs and franchisees as follows:
Book value of assets sold	6,529	3,625
Gain on sale - revenue deferred	(235)	(19)
Loss on sale - loss recognized	617	1,688
Notes received	(4,400)	(2,725)
Notes and Accounts Payable Assumed	1,528	0
Cash received from ADs and franchisees	$ 983	$ 2,569

Organization and Significant Ac

Organization and Significant Accounting Policies	6 Months Ended
	Oct. 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 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. 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, 2016 was derived from the Company’s April 30, 2016 Annual Report on Form 10-K filed on June 29, 2016. 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, 2016 Annual Report on Form 10-K filed on June 29, 2016. Office Count As a seasonal business, the Company works throughout the off season to open new offices, and at the same time, some of our franchisees will choose not to reopen for the next season. Some of these decisions are not made until January each year, and the Company will report office count information for the quarter ended January 31, 2017, once all offices have been opened. Use of Estimates Management has made a number of estimates and assumptions relating to the reporting of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period, to prepare these condensed consolidated financial statements and accompanying notes in conformity with GAAP. Actual results could differ from those estimates. Accounting Pronouncements On May 1, 2016, the Company adopted Accounting Standards Update ("ASU") 2015-03, Simplifying the Presentation of Debt Issuance Costs, which requires that debt issuance costs related to a recognized debt liability to be presented on the balance sheet as a direct deduction from the debt liability, similar to the presentation of debt premiums and discounts, and ASU 2015-15, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements, which further clarifies the presentation and subsequent measurement of debt issuance costs related to line-of-credit arrangements. ASU 2015-03 and 2015-15 applies retrospectively and does not change the recognition and measurement requirements for debt issuance costs. The adoption of ASU 2015-03 and 2015-15 resulted in the reclassification of $0.1 million , $0.1 million and $0.1 million of unamortized debt issuance costs related to the Company's borrowings from other assets to long-term obligations within our consolidated balance sheet as of October 31, 2016 , April 30, 2016 and October 31, 2015 , respectively. On May 1, 2016, the Company adopted ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis, which effectively eliminates the presumption that a general partner should consolidate a limited partnership, modifies the evaluation of whether limited partnerships and similar legal entities are variable interest entities ("VIE"s) or voting interest entities, and affects the consolidation analysis of reporting entities that are involved with VIEs (particularly those that have fee arrangements and related party relationships). The Company has completed its evaluation and has concluded there is no material impact from the adoption of the new standard on its consolidated financial statements. On March 30, 2016, the Financial Accounting Standards Board ("FASB") issued ASU 2016-09, Improvements to Employee Share Based Payment Accounting (Topic 718), to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The guidance will be effective for the Company beginning with its first quarterly filing in fiscal year 2018. Early adoption is permitted, including adoption in an interim period prior to fiscal 2018. The Company is currently evaluating the impact of the adoption of this newly issued guidance to its consolidated financial statements. On August 26, 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230), which clarifies how companies present and classify certain cash receipts and cash payments in the statement of cash flows. The update is intended to reduce the existing diversity in practice and is effective for the Company beginning with its first quarterly filing in fiscal year 2019. The Company is currently evaluating the impact of the adoption of this newly issued guidance to its consolidated financial statements. Foreign Operations Canadian operations contributed $0.3 million and $0.3 million in revenues for the three months ended October 31, 2016 and 2015 , respectively and $1.2 million and $1.3 million in revenues for the six months ended October 31, 2016 and 2015 .

Notes and Accounts Receivable

Notes and Accounts Receivable	6 Months Ended
	Oct. 31, 2016
Receivables [Abstract]
Notes and Accounts Receivable	Accounts and Notes Receivable The Company provides financing to ADs and franchisees 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 an annual rate of 12% . Most of the notes receivable are due from the Company's ADs and franchisees and are collateralized by the underlying AD or franchise and, when the AD or franchise 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 $9.2 million , $25.0 million , and $8.1 million at October 31, 2016 , April 30, 2016 and October 31, 2015 , respectively. At October 31, 2016 , the Company had unfunded lending commitments for working capital loans to franchisees and ADs of $17.1 million through the end of the current fiscal year. 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 fair value of the franchises and AD areas collateralizing 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 six months ended October 31, 2016 and 2015 was as follows: Three Months Ended October 31, Six Months Ended October 31, 2016 2015 2016 2015 (In thousands) Balance at beginning of period $ 8,623 $ 8,141 $ 8,850 $ 7,355 Provision for doubtful accounts 1,907 1,695 3,287 3,396 Write-offs (1,512 ) (1,747 ) (3,083 ) (2,576 ) Foreign currency adjustment (27 ) (14 ) (63 ) (100 ) Balance at end of period $ 8,991 $ 8,075 $ 8,991 $ 8,075 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. The Company performs its impairment analysis annually due to the seasonal nature of its operations. At the end of each fiscal quarter, the Company considers the activity during the period for accounts and notes receivable impaired at each prior fiscal year end and adjusts the allowance for doubtful accounts accordingly. While not specifically identifiable as of the balance sheet date, the Company's analysis of its past experience also indicates that a portion of other accounts and notes receivable may not be collectible. 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 a variety of factors, including recent sales between franchisees, sales of Company-owned stores, 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 October 31, 2016 , April 30, 2016 and October 31, 2015 , was allocated as follows: October 31, 2016 April 30, 2016 October 31, 2015 (In thousands) Impaired: Notes and interest receivable, net of unrecognized revenue $ 9,595 $ 12,960 $ 6,076 Accounts receivable 6,257 7,083 4,987 Less amounts due to ADs and franchisees (944 ) (1,426 ) (881 ) Amounts receivable less amounts due to ADs and franchisees $ 14,908 $ 18,617 $ 10,182 Allowance for doubtful accounts for impaired notes and accounts receivable $ 6,333 $ 7,787 $ 3,899 Non-impaired: Notes and interest receivable, net of unrecognized revenue $ 64,737 $ 41,208 $ 66,027 Accounts receivable 31,710 42,825 25,623 Less amounts due to ADs and franchisees (8,962 ) (26,183 ) (8,717 ) Amounts receivable less amounts due to ADs and franchisees $ 87,485 $ 57,850 $ 82,933 Allowance for doubtful accounts for non-impaired notes and accounts receivable $ 2,658 $ 1,063 $ 4,176 Total: Notes and interest receivable, net of unrecognized revenue $ 74,332 $ 54,168 $ 72,103 Accounts receivable 37,967 49,908 30,610 Less amounts due to ADs and franchisees (9,906 ) (27,609 ) (9,598 ) Amounts receivable less amounts due to ADs and franchisees $ 102,393 $ 76,467 $ 93,115 Total allowance for doubtful accounts $ 8,991 $ 8,850 $ 8,075 The Company’s average investment in impaired notes receivable during the six months ended October 31, 2016 and 2015 was $11.3 million and $8.5 million , respectively. Analysis of Past Due Receivables 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. If it is determined the likelihood of collecting substantially all of the note and accrued interest is not probable the notes are put on non-accrual status. Accounts receivables unpaid as of April 30 each year often remain unpaid until the following tax season due to the seasonal nature of the Company's 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. The breakdown of accounts and notes receivable past due at October 31, 2016 was as follows: Past due Current Allowance for uncollectible interest Total receivables (In thousands) Accounts receivable $ 36,367 $ 2,691 $ (1,091 ) $ 37,967 Notes and interest receivable, net of unrecognized revenue 12,317 63,514 (1,499 ) 74,332 Total accounts, notes and interest receivable $ 48,684 $ 66,205 $ (2,590 ) $ 112,299 The Company’s investment in notes receivable on non-accrual status was $11.5 million , $5.5 million and $10.5 million at October 31, 2016 , April 30, 2016 , and October 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.

Investments (Notes)

Investments (Notes)	6 Months Ended
	Oct. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	Investments During 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 security was sold during the first half of fiscal 2017. A gain on the sale of $50,000 was recognized and reclassified out of accumulated other comprehensive income, net of taxes and recorded as other income. The Company had no such investments at October 31, 2015 .

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Oct. 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 six months ended October 31, 2016 and 2015 were as follows: October 31, 2016 October 31, 2015 (In thousands) Balance at beginning of period $ 4,228 $ 3,377 Acquisitions of assets from franchisees — — Disposals and foreign currency changes, net (104 ) (220 ) Impairments — — Balance at end of period $ 4,124 $ 3,157 Components of intangible assets were as follows as of October 31, 2016 , April 30, 2016 and October 31, 2015 : October 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 $ (478 ) $ 549 Assets acquired from franchisees: Customer lists 4 years 1,323 (605 ) 718 Reacquired rights 2 years 466 (444 ) 22 AD rights 10 years 21,790 (6,113 ) 15,677 Total intangible assets $ 24,606 $ (7,640 ) $ 16,966 April 30, 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 $ (339 ) $ 688 Assets acquired from franchisees: Customer lists 4 years 1,380 (500 ) 880 Reacquired rights 2 years 511 (482 ) 29 AD rights 10 years 20,218 (5,545 ) 14,673 Total intangible assets $ 23,136 $ (6,866 ) $ 16,270 October 31, 2015 Weighted average amortization period Gross carrying amount Accumulated amortization Net carrying amount (In thousands) Amortizable intangible assets: Customer lists acquired from unrelated third parties 4 years $ 1,027 $ (169 ) $ 858 Assets acquired from franchisees: Customer lists 4 years 638 (571 ) 67 Reacquired rights 2 years 463 (433 ) 30 AD rights 10 years 17,720 (4,673 ) 13,047 Total intangible assets $ 19,848 $ (5,846 ) $ 14,002 During the six months ended October 31, 2016 , the Company did not acquire any assets of U.S. or Canadian franchisees, or third parties that were not classified as assets held for sale. During the six months ended October 31, 2015 , the Company acquired the assets of Canadian franchisees for $10,000 , all of which were intangible assets consisting of customer lists and reacquired rights.

Assets Held For Sale (Notes)

Assets Held For Sale (Notes)	6 Months Ended
	Oct. 31, 2016
Assets Held For Sale Disclosure [Abstract]
Assets Held for Sale	Assets Held For Sale At the end of the second quarter of fiscal 2017 and 2016 , assets acquired from U.S. franchisees were classified as assets held for sale. During the six months ended October 31, 2016 , the Company acquired $13.6 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 $6.5 million and goodwill of $7.1 million prior to being recorded as assets held for sale. The value of assets acquired includes $0.8 million of estimated contingent consideration that is included in long-term obligations as due to former ADs and franchisees. During the six months ended October 31, 2015 , the Company acquired $6.9 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 $3.0 million and goodwill of $3.9 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 six months ended October 31, 2016 and 2015 were as follows: Six Months Ended October 31, 2016 2015 (In thousands) Balance at beginning of period $ 9,886 $ 5,160 Reacquired, acquired from third parties, and other 13,647 6,905 Dispositions and impairments (5,450 ) (2,407 ) Balance at end of period $ 18,083 $ 9,658

Debt

Debt	6 Months Ended
	Oct. 31, 2015
Debt Disclosure [Abstract]
Debt	Long-Term Obligations The Company has a 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. On August 18, 2016, the Company amended its credit facility, to provide for a modification of certain loan covenants to increase the Company’s leverage ratio during the third quarter of each fiscal year. The amendment makes available additional funds due to an expected delay in our cash flows from the Internal Revenue Service until at least February 15, 2017 for taxpayers who claim refundable credits. At October 31, 2016 and 2015, the average interest rate paid during the six months ended October 31, 2016 and 2015 was 2.16% and 1.81% , 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 October 31, 2016 . Long-term obligations at October 31, 2016 , April 30, 2016 , and October 31, 2015 consisted of the following: October 31, 2016 April 30, 2016 October 31, 2015 (In thousands) Credit Facility: Revolver $ 66,635 $ — $ 57,301 Term loan, net of debt issuance costs 17,983 18,884 20,051 84,618 18,884 77,352 Due former ADs franchisees and third parties 2,748 2,317 601 Mortgages — 2,239 2,255 87,366 23,440 80,208 Less: current installments (3,663 ) (5,947 ) (4,922 ) Long-term obligations $ 83,703 $ 17,493 $ 75,286 As discussed in Note 1, the adoption of ASU 2015-03 and ASU 2015-15 resulted in the reclassification of $0.1 million , $0.1 million and $0.1 million of unamortized debt issuance costs related to the Company's borrowings from other assets to long-term obligations within our consolidated balance sheet for each period ended October 31, 2016 , April 30, 2016 and October 31, 2015 , respectively.

Forward Contracts (Notes)

Forward Contracts (Notes)	6 Months Ended
	Oct. 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. At October 31, 2016, we had no forward contracts.

Income Taxes

Income Taxes	6 Months Ended
	Oct. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company computes its provision for, or benefit from, income taxes by applying the estimated annual effective tax rate to income or loss from recurring operations and adjusting for the effects of any discrete income tax items specific to the period.

Stock Compensation Plans

Stock Compensation Plans	6 Months Ended
	Oct. 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 October 31, 2016 , 1,453,361 shares of Class A common stock remain available for grant. There were 172,048 options granted during the six months ended October 31, 2016 . Stock option activity during the six months ended October 31, 2016 was as follows: Number of options Weighted average exercise price Balance at beginning of period 1,264,562 $ 19.77 Granted 172,048 12.43 Exercised — — Expired or forfeited (273,950 ) 17.23 Balance at end of period 1,162,660 19.28 Intrinsic value is defined as the market value of the stock less the cost to exercise. There were no options exercised during the six months ended October 31, 2016 . The total intrinsic value of stock options outstanding at October 31, 2016 was less than $0.1 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 six months ended October 31, 2016 was as follows: Nonvested options Weighted average exercise price Balance at beginning of period 389,053 $ 24.76 Granted 172,048 12.43 Vested (169,054 ) 23.82 Forfeited — — Balance at end of period 392,047 19.76 At October 31, 2016 , unrecognized compensation costs related to nonvested stock options were $1.7 million . These costs are expected to be recognized through fiscal 2021. The following table summarizes information about stock options outstanding and exercisable at October 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 $10.51 - $15.00 475,981 $ 14.07 2.4 303,933 $ 15.00 16.38 - 19.75 290,876 17.90 3.5 263,876 17.94 22.18 - 29.48 330,387 25.22 5.0 167,387 25.09 33.38 65,416 33.38 5.0 35,417 33.38 1,162,660 19.28 770,613 19.04 Restricted Stock Units Restricted stock activity during the six months ended October 31, 2016 was as follows: Number of Restricted stock units Weighted average fair value at grant date Balance at beginning of period 42,792 $ 26.10 Granted 13,552 12.79 Vested (17,118 ) 24.58 Forfeited (9,108 ) 31.53 Balance at end of period 30,118 19.33 At October 31, 2016 , unrecognized compensation costs related to restricted stock units were $0.5 million . These costs are expected to be recognized through fiscal 2019.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Oct. 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 October 31, 2016 , April 30, 2016 and October 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): October 31, 2016 Fair value measurements using Total Level 1 Level 2 Level 3 Assets: Nonrecurring: Impaired accounts and notes receivable $ 9,519 $ — $ — $ 9,519 Liabilities: Recurring: Obligations due former ADs and franchisees $ 798 $ — $ — $ 798 April 30, 2016 Fair value measurements using Total Level 1 Level 2 Level 3 Assets: Recurring: Cash equivalents $ 7,140 $ 7,140 $ — $ — Available-for-sale securities 4,123 4,123 — — Total recurring assets 11,263 11,263 — — Nonrecurring: Impaired accounts and notes receivable 12,256 — — 12,256 Impaired goodwill 63 — — 63 Impaired reacquired rights 28 — — 28 Impaired customer lists 34 — — 34 Assets held for sale 9,886 — — 9,886 Total nonrecurring assets 22,267 — — 22,267 Total recurring and nonrecurring assets $ 33,530 $ 11,263 $ — $ 22,267 October 31, 2015 Fair value measurements using Total Level 1 Level 2 Level 3 Assets: Nonrecurring: Impaired accounts and notes receivable $ 7,164 $ — $ — $ 7,164 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 six months ended October 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, sales of Company-owned stores, 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. Obligations due former ADs and franchisees: Obligations due former ADs and franchisees related to estimated contingent consideration are carried at fair value. The fair value of these obligations was determined using a discounted cash flow model. 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 obligations: The carrying amount approximates fair value because the interest rate paid has a variable component (Level 2).

Related Party Transactions

Related Party Transactions	6 Months Ended
	Oct. 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 families, to be related parties. During fiscal 2015, the Company 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. This contract expired during the second quarter of fiscal 2017. At that same time, the Company entered into a new three year contract with the same company at a price of $0.9 million .

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Oct. 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. 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 Subsequent Ev

Subsequent Event Subsequent Events (Notes)	6 Months Ended
	Oct. 31, 2016
Subsequent Events [Abstract]
Subsequent Events [Text Block]	Subsequent Events On November 10, 2016, the Board of Directors approved up to $5 million for an area developer repurchase auction program. The actual amount expended on the area developer repurchase auction program will reduce the amount authorized under the share repurchase program. On December 6, 2016, the Board of Directors approved a quarterly cash dividend to stockholders of $0.16 per share payable on January 23, 2017 to holders of record of common stock and common stock equivalents on January 12, 2017.

Organization and Significant 21

Organization and Significant Accounting Policies (Policies)	6 Months Ended
	Oct. 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 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. 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, 2016 was derived from the Company’s April 30, 2016 Annual Report on Form 10-K filed on June 29, 2016. 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, 2016 Annual Report on Form 10-K filed on June 29, 2016.
Office Count	Office Count As a seasonal business, the Company works throughout the off season to open new offices, and at the same time, some of our franchisees will choose not to reopen for the next season. Some of these decisions are not made until January each year, and the Company will report office count information for the quarter ended January 31, 2017, once all offices have been opened.
Use of Estimates	Use of Estimates Management has made a number of estimates and assumptions relating to the reporting of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period, to prepare these condensed consolidated financial statements and accompanying notes in conformity with GAAP. Actual results could differ from those estimates.
New Accounting Pronouncements, Policy	Accounting Pronouncements On May 1, 2016, the Company adopted Accounting Standards Update ("ASU") 2015-03, Simplifying the Presentation of Debt Issuance Costs, which requires that debt issuance costs related to a recognized debt liability to be presented on the balance sheet as a direct deduction from the debt liability, similar to the presentation of debt premiums and discounts, and ASU 2015-15, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements, which further clarifies the presentation and subsequent measurement of debt issuance costs related to line-of-credit arrangements. ASU 2015-03 and 2015-15 applies retrospectively and does not change the recognition and measurement requirements for debt issuance costs. The adoption of ASU 2015-03 and 2015-15 resulted in the reclassification of $0.1 million , $0.1 million and $0.1 million of unamortized debt issuance costs related to the Company's borrowings from other assets to long-term obligations within our consolidated balance sheet as of October 31, 2016 , April 30, 2016 and October 31, 2015 , respectively. On May 1, 2016, the Company adopted ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis, which effectively eliminates the presumption that a general partner should consolidate a limited partnership, modifies the evaluation of whether limited partnerships and similar legal entities are variable interest entities ("VIE"s) or voting interest entities, and affects the consolidation analysis of reporting entities that are involved with VIEs (particularly those that have fee arrangements and related party relationships). The Company has completed its evaluation and has concluded there is no material impact from the adoption of the new standard on its consolidated financial statements. On March 30, 2016, the Financial Accounting Standards Board ("FASB") issued ASU 2016-09, Improvements to Employee Share Based Payment Accounting (Topic 718), to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The guidance will be effective for the Company beginning with its first quarterly filing in fiscal year 2018. Early adoption is permitted, including adoption in an interim period prior to fiscal 2018. The Company is currently evaluating the impact of the adoption of this newly issued guidance to its consolidated financial statements. On August 26, 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230), which clarifies how companies present and classify certain cash receipts and cash payments in the statement of cash flows. The update is intended to reduce the existing diversity in practice and is effective for the Company beginning with its first quarterly filing in fiscal year 2019. The Company is currently evaluating the impact of the adoption of this newly issued guidance to its consolidated financial statements.
Foreign Operations	Foreign Operations Canadian operations contributed $0.3 million and $0.3 million in revenues for the three months ended October 31, 2016 and 2015 , respectively and $1.2 million and $1.3 million in revenues for the six months ended October 31, 2016 and 2015 .

Stockholders' Equity Stockholde

Stockholders' Equity Stockholders' Equity Activity (Policies)	6 Months Ended
	Oct. 31, 2016
Stockholders' Equity Attributable to Parent [Abstract]
Stockholders' Equity Activity [Text Block]	Stockholders’ Equity Stockholders' Equity Activity During the six months ended October 31, 2016 and 2015 , activity in stockholders’ equity was as follows: Six Months Ended October 31, 2016 2015 (in thousands, except for share amounts) Class A common stock issued from the exercise of stock options — 22,110 Class A common stock issued from the vesting of restricted stock and as Board of Directors compensation 18,800 13,556 Class B common stock converted to Class A common shares 700,000 — Class A common stock repurchased 3,118 70,635 Proceeds from exercise of stock options $ — $ 344 Stock-based compensation expense $ 1,061 $ 866 Repurchase of common stock $ 39 $ 1,711 Tax effect of stock option exercises $ (394 ) $ 532 Dividends declared $ 4,448 $ 4,415 During the six months ended October 31, 2016, the sole holder of the Company's Class B common stock converted 700,000 of those shares to the Company's Class A common stock on a one-for-one basis and for no additional consideration. Accumulated Other Comprehensive Loss The components of accumulated other comprehensive loss at October 31, 2016 , April 30, 2016 and October 31, 2015 were as follows. October 31, 2016 April 30, 2016 October 31, 2015 (In thousands) Foreign currency adjustment $ (1,850 ) $ (1,148 ) $ (1,572 ) Unrealized loss on available-for-sale securities, net of taxes of $-, $324, and $-, respectively — (550 ) — Total accumulated other comprehensive loss $ (1,850 ) $ (1,698 ) $ (1,572 ) 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 stock and participating securities (exchangeable shares) and using the weighted-average number of common stock 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 stock and, if dilutive, the potential common stock outstanding during the period. Potential common stock consist of the incremental common stock issuable upon the exercise of stock options and vesting of restricted stock units. The dilutive effect of outstanding stock options and restricted stock units is reflected in diluted earnings per share by application of the treasury stock method. Additionally, the computation of the diluted net income (loss) per share of Class A common stock assumes the conversion of Class B common stock and exchangeable shares, if dilutive, while the diluted net loss per share of Class B common stock does not assume conversion of those shares. The rights, including liquidation and dividend rights, of the holders of Class A and Class B common stock are identical, with the exception of the election of directors. As a result, the undistributed earnings for each year are allocated based on the contractual participation rights of the Class A and Class B common stock as if the earnings for the year had been distributed. Participating securities have dividend rights that are identical to Class A and Class B common stock. The computation of basic and diluted net loss per share for the three and six months ended October 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 Basic and diluted net loss per share: Numerator Allocation of undistributed losses $ (9,172 ) $ (170 ) $ (8,431 ) $ (639 ) Denominator Weighted-average common stock outstanding 12,667,172 234,783 11,875,565 900,000 Basic and diluted net loss per share $ (0.72 ) $ (0.72 ) $ (0.71 ) $ (0.71 ) As a result of the net losses for the periods shown, diluted net loss per share excludes the impact of shares of potential common stock from the exercise of options to purchase 1,180,412 and 1,116,627 shares for the three months ended October 31, 2016 and 2015 , respectively, because the effect would be anti-dilutive. Six Months Ended Six 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 Basic and diluted net loss per share: Numerator Allocation of undistributed losses $ (18,292 ) $ (480 ) $ (16,368 ) $ (1,238 ) Denominator Weighted-average common stock outstanding 12,568,999 329,348 11,893,593 900,000 Basic and diluted net loss per share $ (1.46 ) $ (1.46 ) $ (1.38 ) $ (1.38 ) As a result of the net losses for the periods shown, diluted net loss per share excludes the impact of shares of potential common stock from the exercise of options to purchase 1,191,785 and 1,124,558 shares for the six months ended October 31, 2016 and 2015 , respectively, because the effect would be anti-dilutive.

Notes and Accounts Receivable (

Notes and Accounts Receivable (Tables)	6 Months Ended
	Oct. 31, 2016
Receivables [Abstract]
Schedule of activity in the allowance for doubtful accounts	Activity in the allowance for doubtful accounts for the six months ended October 31, 2016 and 2015 was as follows: Three Months Ended October 31, Six Months Ended October 31, 2016 2015 2016 2015 (In thousands) Balance at beginning of period $ 8,623 $ 8,141 $ 8,850 $ 7,355 Provision for doubtful accounts 1,907 1,695 3,287 3,396 Write-offs (1,512 ) (1,747 ) (3,083 ) (2,576 ) Foreign currency adjustment (27 ) (14 ) (63 ) (100 ) Balance at end of period $ 8,991 $ 8,075 $ 8,991 $ 8,075
Schedule of allocation of allowance for doubtful accounts	The allowance for doubtful accounts at October 31, 2016 , April 30, 2016 and October 31, 2015 , was allocated as follows: October 31, 2016 April 30, 2016 October 31, 2015 (In thousands) Impaired: Notes and interest receivable, net of unrecognized revenue $ 9,595 $ 12,960 $ 6,076 Accounts receivable 6,257 7,083 4,987 Less amounts due to ADs and franchisees (944 ) (1,426 ) (881 ) Amounts receivable less amounts due to ADs and franchisees $ 14,908 $ 18,617 $ 10,182 Allowance for doubtful accounts for impaired notes and accounts receivable $ 6,333 $ 7,787 $ 3,899 Non-impaired: Notes and interest receivable, net of unrecognized revenue $ 64,737 $ 41,208 $ 66,027 Accounts receivable 31,710 42,825 25,623 Less amounts due to ADs and franchisees (8,962 ) (26,183 ) (8,717 ) Amounts receivable less amounts due to ADs and franchisees $ 87,485 $ 57,850 $ 82,933 Allowance for doubtful accounts for non-impaired notes and accounts receivable $ 2,658 $ 1,063 $ 4,176 Total: Notes and interest receivable, net of unrecognized revenue $ 74,332 $ 54,168 $ 72,103 Accounts receivable 37,967 49,908 30,610 Less amounts due to ADs and franchisees (9,906 ) (27,609 ) (9,598 ) Amounts receivable less amounts due to ADs and franchisees $ 102,393 $ 76,467 $ 93,115 Total allowance for doubtful accounts $ 8,991 $ 8,850 $ 8,075
Schedule of aging of accounts and notes receivable	The breakdown of accounts and notes receivable past due at October 31, 2016 was as follows: Past due Current Allowance for uncollectible interest Total receivables (In thousands) Accounts receivable $ 36,367 $ 2,691 $ (1,091 ) $ 37,967 Notes and interest receivable, net of unrecognized revenue 12,317 63,514 (1,499 ) 74,332 Total accounts, notes and interest receivable $ 48,684 $ 66,205 $ (2,590 ) $ 112,299

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Oct. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Changes in the carrying amount of goodwill for the six months ended October 31, 2016 and 2015 were as follows: October 31, 2016 October 31, 2015 (In thousands) Balance at beginning of period $ 4,228 $ 3,377 Acquisitions of assets from franchisees — — Disposals and foreign currency changes, net (104 ) (220 ) Impairments — — Balance at end of period $ 4,124 $ 3,157
Schedule of the amortizable other intangible assets	Components of intangible assets were as follows as of October 31, 2016 , April 30, 2016 and October 31, 2015 : October 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 $ (478 ) $ 549 Assets acquired from franchisees: Customer lists 4 years 1,323 (605 ) 718 Reacquired rights 2 years 466 (444 ) 22 AD rights 10 years 21,790 (6,113 ) 15,677 Total intangible assets $ 24,606 $ (7,640 ) $ 16,966 April 30, 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 $ (339 ) $ 688 Assets acquired from franchisees: Customer lists 4 years 1,380 (500 ) 880 Reacquired rights 2 years 511 (482 ) 29 AD rights 10 years 20,218 (5,545 ) 14,673 Total intangible assets $ 23,136 $ (6,866 ) $ 16,270 October 31, 2015 Weighted average amortization period Gross carrying amount Accumulated amortization Net carrying amount (In thousands) Amortizable intangible assets: Customer lists acquired from unrelated third parties 4 years $ 1,027 $ (169 ) $ 858 Assets acquired from franchisees: Customer lists 4 years 638 (571 ) 67 Reacquired rights 2 years 463 (433 ) 30 AD rights 10 years 17,720 (4,673 ) 13,047 Total intangible assets $ 19,848 $ (5,846 ) $ 14,002

Assets Held For Sale (Tables)

Assets Held For Sale (Tables)	6 Months Ended
	Oct. 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 six months ended October 31, 2016 and 2015 were as follows: Six Months Ended October 31, 2016 2015 (In thousands) Balance at beginning of period $ 9,886 $ 5,160 Reacquired, acquired from third parties, and other 13,647 6,905 Dispositions and impairments (5,450 ) (2,407 ) Balance at end of period $ 18,083 $ 9,658

Debt (Tables)

Debt (Tables)	6 Months Ended
	Oct. 31, 2016
Debt Disclosure [Abstract]
Schedule of debt	Long-term obligations at October 31, 2016 , April 30, 2016 , and October 31, 2015 consisted of the following: October 31, 2016 April 30, 2016 October 31, 2015 (In thousands) Credit Facility: Revolver $ 66,635 $ — $ 57,301 Term loan, net of debt issuance costs 17,983 18,884 20,051 84,618 18,884 77,352 Due former ADs franchisees and third parties 2,748 2,317 601 Mortgages — 2,239 2,255 87,366 23,440 80,208 Less: current installments (3,663 ) (5,947 ) (4,922 ) Long-term obligations $ 83,703 $ 17,493 $ 75,286

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Oct. 31, 2016
Equity [Abstract]
Schedule of activity in stockholders' equity	During the six months ended October 31, 2016 and 2015 , activity in stockholders’ equity was as follows: Six Months Ended October 31, 2016 2015 (in thousands, except for share amounts) Class A common stock issued from the exercise of stock options — 22,110 Class A common stock issued from the vesting of restricted stock and as Board of Directors compensation 18,800 13,556 Class B common stock converted to Class A common shares 700,000 — Class A common stock repurchased 3,118 70,635 Proceeds from exercise of stock options $ — $ 344 Stock-based compensation expense $ 1,061 $ 866 Repurchase of common stock $ 39 $ 1,711 Tax effect of stock option exercises $ (394 ) $ 532 Dividends declared $ 4,448 $ 4,415
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	The components of accumulated other comprehensive loss at October 31, 2016 , April 30, 2016 and October 31, 2015 were as follows. October 31, 2016 April 30, 2016 October 31, 2015 (In thousands) Foreign currency adjustment $ (1,850 ) $ (1,148 ) $ (1,572 ) Unrealized loss on available-for-sale securities, net of taxes of $-, $324, and $-, respectively — (550 ) — Total accumulated other comprehensive loss $ (1,850 ) $ (1,698 ) $ (1,572 )
Schedule of computation of basic and diluted net income (loss) per share	The computation of basic and diluted net loss per share for the three and six months ended October 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 Basic and diluted net loss per share: Numerator Allocation of undistributed losses $ (9,172 ) $ (170 ) $ (8,431 ) $ (639 ) Denominator Weighted-average common stock outstanding 12,667,172 234,783 11,875,565 900,000 Basic and diluted net loss per share $ (0.72 ) $ (0.72 ) $ (0.71 ) $ (0.71 ) As a result of the net losses for the periods shown, diluted net loss per share excludes the impact of shares of potential common stock from the exercise of options to purchase 1,180,412 and 1,116,627 shares for the three months ended October 31, 2016 and 2015 , respectively, because the effect would be anti-dilutive. Six Months Ended Six 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 Basic and diluted net loss per share: Numerator Allocation of undistributed losses $ (18,292 ) $ (480 ) $ (16,368 ) $ (1,238 ) Denominator Weighted-average common stock outstanding 12,568,999 329,348 11,893,593 900,000 Basic and diluted net loss per share $ (1.46 ) $ (1.46 ) $ (1.38 ) $ (1.38 )

Stock Compensation Plans (Table

Stock Compensation Plans (Tables)	6 Months Ended
	Oct. 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 October 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 $10.51 - $15.00 475,981 $ 14.07 2.4 303,933 $ 15.00 16.38 - 19.75 290,876 17.90 3.5 263,876 17.94 22.18 - 29.48 330,387 25.22 5.0 167,387 25.09 33.38 65,416 33.38 5.0 35,417 33.38 1,162,660 19.28 770,613 19.04
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	Restricted stock activity during the six months ended October 31, 2016 was as follows: Number of Restricted stock units Weighted average fair value at grant date Balance at beginning of period 42,792 $ 26.10 Granted 13,552 12.79 Vested (17,118 ) 24.58 Forfeited (9,108 ) 31.53 Balance at end of period 30,118 19.33
Schedule of stock option activity	Stock option activity during the six months ended October 31, 2016 was as follows: Number of options Weighted average exercise price Balance at beginning of period 1,264,562 $ 19.77 Granted 172,048 12.43 Exercised — — Expired or forfeited (273,950 ) 17.23 Balance at end of period 1,162,660 19.28
Schedule of nonvested (options that did not vest in the period in which granted) stock option activity	Nonvested stock options activity during the six months ended October 31, 2016 was as follows: Nonvested options Weighted average exercise price Balance at beginning of period 389,053 $ 24.76 Granted 172,048 12.43 Vested (169,054 ) 23.82 Forfeited — — Balance at end of period 392,047 19.76

Fair Value of Financial Instr29

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Oct. 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 October 31, 2016 , April 30, 2016 and October 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): October 31, 2016 Fair value measurements using Total Level 1 Level 2 Level 3 Assets: Nonrecurring: Impaired accounts and notes receivable $ 9,519 $ — $ — $ 9,519 Liabilities: Recurring: Obligations due former ADs and franchisees $ 798 $ — $ — $ 798 April 30, 2016 Fair value measurements using Total Level 1 Level 2 Level 3 Assets: Recurring: Cash equivalents $ 7,140 $ 7,140 $ — $ — Available-for-sale securities 4,123 4,123 — — Total recurring assets 11,263 11,263 — — Nonrecurring: Impaired accounts and notes receivable 12,256 — — 12,256 Impaired goodwill 63 — — 63 Impaired reacquired rights 28 — — 28 Impaired customer lists 34 — — 34 Assets held for sale 9,886 — — 9,886 Total nonrecurring assets 22,267 — — 22,267 Total recurring and nonrecurring assets $ 33,530 $ 11,263 $ — $ 22,267 October 31, 2015 Fair value measurements using Total Level 1 Level 2 Level 3 Assets: Nonrecurring: Impaired accounts and notes receivable $ 7,164 $ — $ — $ 7,164

Organization and Significant 30

Organization and Significant Accounting Policies (Details) - USD ($)	3 Months Ended		6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015	Apr. 30, 2016
Geographical concentration
Revenues	$ 7,234,000	$ 7,871,000	$ 14,383,000	$ 15,394,000
unamortized debt issuance costs	(80,000)	(136,000)	(80,000)	(136,000)	$ (108,000)
CANADA
Geographical concentration
Revenues	$ 300,000	$ 300,000	$ 1,200,000	$ 1,300,000

Accounts and Notes Receivables

Accounts and Notes Receivables - USD ($) $ in Thousands	6 Months Ended
	Oct. 31, 2016	Apr. 30, 2016	Oct. 31, 2015
Schedule of Activity Related to Notes Receivable
Notes, Loans and Financing Receivable, Gross, Current	$ 43,658	$ 26,710	$ 43,815
Notes, Loans and Financing Receivable, Gross, Noncurrent	26,897	25,514	25,090
Interest Receivable, Current	3,777	1,944	3,198
Activity related to notes receivable
Amounts payable to area developers for their share of receivables	9,210	$ 24,977	$ 8,138
Accounts and Notes Receivable, Unfunded Lending Commitments for Working Capital Loans to Franchisees and Area Developers	$ 17,100
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		6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015	Jul. 31, 2016	Apr. 30, 2016	Jul. 31, 2015	Apr. 30, 2015
Financing Receivable, Allowance for Credit Losses [Line Items]
Impaired Financing Receivable, Average Recorded Investment			$ 11,300	$ 8,500
Accounts and Notes Receivable, Allowance for Uncollected Interest Amounts Due ADs Related Deferred Revenue and Amounts Due Franchisees	$ 9,906	$ 9,598	9,906	9,598		$ 27,609
Accounts and Notes Receivable, Net	102,393	93,115	102,393	93,115		76,467
Allowance for Doubtful Accounts Receivable Additions Charged to Expenses	1,907	1,695	3,287	3,396
Allowance for Doubtful Accounts Receivable, Write-offs	(1,512)	(1,747)	(3,083)	(2,576)
Allowance for Doubtful Accounts Receivable Foreign Currency Adjustment	27	14	63	100
Allowance for Doubtful Accounts Receivable	8,991	8,075	8,991	8,075	$ 8,623	8,850	$ 8,141	$ 7,355
Accounts and Notes Receivable, Unfunded Lending Commitments for Working Capital Loans to Franchisees and Area Developers	17,100		17,100
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	944	881	944	881		1,426
Accounts and Notes Receivable, Net	14,908	10,182	14,908	10,182		18,617
Allowance for Doubtful Accounts Receivable, Current	6,333	3,899	6,333	3,899		7,787
Nonimpaired Accounts Notes Loans and Financing Receivable [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Accounts and Notes Receivable, Allowance for Uncollected Interest Amounts Due ADs Related Deferred Revenue and Amounts Due Franchisees	8,962	8,717	8,962	8,717		26,183
Accounts and Notes Receivable, Net	87,485	82,933	87,485	82,933		57,850
Allowance for Doubtful Accounts Receivable, Current	2,658	4,176	2,658	4,176		1,063
Notes Receivable [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Accounts and Notes Receivable Gross	74,332	72,103	74,332	72,103		54,168
Notes Receivable [Member] | Impaired Accounts Notes Loans and Financing Receivable [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Accounts and Notes Receivable Gross	9,595	6,076	9,595	6,076		12,960
Notes Receivable [Member] | Nonimpaired Accounts Notes Loans and Financing Receivable [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Accounts and Notes Receivable Gross	64,737	66,027	64,737	66,027		41,208
Trade Accounts Receivable [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Accounts and Notes Receivable Gross	37,967	30,610	37,967	30,610		49,908
Trade Accounts Receivable [Member] | Impaired Accounts Notes Loans and Financing Receivable [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Accounts and Notes Receivable Gross	6,257	4,987	6,257	4,987		7,083
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	$ 31,710	$ 25,623	$ 31,710	$ 25,623		$ 42,825

Analysis of Past Due Receivable

Analysis of Past Due Receivables - USD ($) $ in Thousands	6 Months Ended
	Oct. 31, 2016	Apr. 30, 2016	Oct. 31, 2015
Aging of accounts and notes receivable
Past due	$ 48,684
Allowance for uncollectible interest	66,205
Financing Receivable Allowance for Uncollected Interest	(2,590)
Total receivables	112,299
Accounts receivable
Aging of accounts and notes receivable
Past due	36,367
Allowance for uncollectible interest	2,691
Financing Receivable Allowance for Uncollected Interest	(1,091)
Total receivables	$ 37,967
Past due period	30 days
Notes receivable
Aging of accounts and notes receivable
Past due	$ 12,317
Allowance for uncollectible interest	63,514
Financing Receivable Allowance for Uncollected Interest	(1,499)
Total receivables	$ 74,332
Past due period	90 days
Financing Receivable, Recorded Investment, Nonaccrual Status	$ 11,500	$ 5,500	$ 10,500

Investments investments (Detail

Investments investments (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Apr. 30, 2016
Schedule of Available-for-sale Securities [Line Items]
Unrealized Loss on Securities	$ 0	$ 0	$ (550)
Available-for-sale Securities, Gross Realized Gains	$ 50,000
Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Payments to Acquire Available-for-sale Securities			$ 5,000

Changes in the Carrying Amount

Changes in the Carrying Amount of Goodwill - USD ($) $ in Thousands	6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, Balance at Beginning of Period	$ 4,228	$ 3,377
Acquisitions of assets from franchisees	0	0
Goodwill, Disposals and foreign currency changes, net	(104)	(220)
Goodwill Impairments, Gross	0	0
Goodwill, Balance at End of Period	$ 4,124	$ 3,157

Components of Intangible Assets

Components of Intangible Assets - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Apr. 30, 2016
Amortizable other intangible assets:
Gross carrying amount	$ 24,606	$ 19,848	$ 23,136
Accumulated amortization	(7,640)	(5,846)	(6,866)
Net carrying amount	$ 16,966	$ 14,002	$ 16,270
Acquired customer lists
Amortizable other intangible assets:
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	4 years	4 years	4 years
Gross carrying amount	$ 1,027	$ 1,027	$ 1,027
Accumulated amortization	(478)	(169)	(339)
Net carrying amount	$ 549	$ 858	$ 688
Customer lists
Amortizable other intangible assets:
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	4 years	4 years	4 years
Gross carrying amount	$ 1,323	$ 638	$ 1,380
Accumulated amortization	(605)	(571)	(500)
Net carrying amount	$ 718	$ 67	$ 880
Reacquired rights
Amortizable other intangible assets:
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	2 years	2 years	2 years
Gross carrying amount	$ 466	$ 463	$ 511
Accumulated amortization	(444)	(433)	(482)
Net carrying amount	$ 22	$ 30	$ 29
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	$ 21,790	$ 17,720	$ 20,218
Accumulated amortization	(6,113)	(4,673)	(5,545)
Net carrying amount	$ 15,677	13,047	$ 14,673
Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Amortizable other intangible assets:
Net carrying amount		$ 14,002

Purchase Price of Assets Acquir

Purchase Price of Assets Acquired from Franchisees	6 Months Ended
	Oct. 31, 2016USD ($)
Goodwill [Line Items]
Finite-lived Intangible Assets Acquired	$ 10,000

Goodwill and Intangible Asset38

Goodwill and Intangible Assets Goodwill and Intangible Assets (Textuals) (Details)	6 Months Ended
	Oct. 31, 2016USD ($)
Goodwill [Line Items]
Finite-lived Intangible Assets Acquired	$ 10,000

Assets Held For Sale Narrative

Assets Held For Sale Narrative (Details) - USD ($)	6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Apr. 30, 2016
Finite-lived Intangible Assets Acquired	$ 10,000
Accounts and Notes Receivable, Allowance for Uncollected Interest Amounts Due ADs Related Deferred Revenue and Amounts Due Franchisees	9,906,000	$ 9,598,000	$ 27,609,000
Finite-lived Intangible Assets Reacquired and Acquired		6,905,000
UNITED STATES
Finite-lived Intangible Assets Reacquired and Acquired	13,647,000
Customer Lists and Reacquired Rights [Member] | UNITED STATES
Finite-lived Intangible Assets Acquired	6,500,000	3,000,000
Goodwill [Member] | UNITED STATES
Finite-lived Intangible Assets Acquired	$ 7,100,000	$ 3,900,000

Assets Held For Sale Carrying A

Assets Held For Sale Carrying Amount of Assets HFS (table) (Details) - USD ($) $ in Thousands	6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Apr. 30, 2016	Apr. 30, 2015
Property, Plant and Equipment [Line Items]
Assets Held for Sale	$ 18,083	$ 9,658	$ 9,886	$ 5,160
Finite-lived Intangible Assets Reacquired and Acquired		6,905
finite-lived intangible assets disposed	(5,450)	$ (2,407)
UNITED STATES
Property, Plant and Equipment [Line Items]
Finite-lived Intangible Assets Reacquired and Acquired	$ 13,647

Debt (Details)

Debt (Details)	6 Months Ended
	Oct. 31, 2016USD ($)	Apr. 30, 2016USD ($)	Oct. 31, 2015USD ($)
Credit facility
Total debt	$ 87,366,000	$ 23,440,000	$ 80,208,000
Less: current installments	(3,663,000)	(5,947,000)	(4,922,000)
Long-term obligations	$ 83,703,000	17,493,000	75,286,000
Days to Have Zero Debt	45
unamortized debt issuance costs	$ (80,000)	(108,000)	(136,000)
Revolver
Credit facility
Maximum borrowing capacity	203,800,000
Line of credit facility, increased availability	50,000,000
Total debt	$ 66,635,000	0	57,301,000
Outstanding Balance	zero
Term loan
Credit facility
Maximum borrowing capacity	$ 21,200,000
Total debt	17,983,000	18,884,000	20,051,000
Credit facility
Credit facility
Total debt	$ 84,618,000	18,884,000	$ 77,352,000
Line of Credit Facility, Average Interest Rate Paid	2.16%		1.81%
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%
Allowance for Franchise Notes Receivable [Member]
Credit facility
Total debt	$ 2,748,000	2,317,000	$ 601,000
Other debt
Credit facility
Total debt	$ 0	$ 2,239,000	$ 2,255,000

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015	Apr. 30, 2016
Stockholders' Equity
Available-for-sale Securities, Income Tax Expense on Change in Unrealized Holding Gain (Loss)			$ 0	$ 0	$ 324
Earnings Per Share, Basic and Diluted	$ (0.72)	$ (0.71)	$ (1.46)	$ (1.38)
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax	$ (1,850)	$ (1,572)	$ (1,850)	$ (1,572)	(1,148)
Unrealized Loss on Securities			$ 0	$ 0	(550)
Incremental Common Shares Attributable to Converted Shares of Preferred Stock			700,000	0
Proceeds from the exercise of stock options			$ 0	$ 344
Stock-based compensation expense			$ 1,061	$ 866
Class A common shares repurchased			3,118,000	70,635,000
Repurchase of common stock			$ 39	$ 1,711
Income Tax Effects Allocated Directly to Equity, Employee Stock Options			(394)
Tax effect of stock option exercises			60	532
Payments of Ordinary Dividends			4,448	4,415
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ (1,850)	$ (1,572)	$ (1,850)	$ (1,572)	$ (1,698)
Weighted Average Number of Shares Outstanding, Basic and Diluted	12,901,955	12,775,565	12,898,347	12,793,593
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	1,180,412	1,116,627	1,191,785	1,124,558
Class A common stock
Stockholders' Equity
net income (loss) available to common shareholders, basic and diluted	$ (9,172)	$ (8,431)	$ (18,292)	$ (16,368)
Earnings Per Share, Basic and Diluted	$ (0.72)	$ (0.71)	$ (1.46)	$ (1.38)
Class A common shares issued from the exercise of stock options			0	22,110
Class A common stock issued from the vesting of restricted stock and as Board of Directors compensation			18,800	13,556
Weighted Average Number of Shares Outstanding, Basic and Diluted	12,667,172	11,875,565	12,568,999	11,893,593
Class B common stock
Stockholders' Equity
net income (loss) available to common shareholders, basic and diluted	$ (170)	$ (639)	$ (480)	$ (1,238)
Earnings Per Share, Basic and Diluted	$ (0.72)	$ (0.71)	$ (1.46)	$ (1.38)
Weighted Average Number of Shares Outstanding, Basic and Diluted	234,783	900,000	329,348	900,000

Stock Compensation Plans (Detai

Stock Compensation Plans (Details) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
Employee Stock Option [Member]
Stock compensation plan
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price	$ 19.04
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	$ 0.1
Unrecognized compensation costs	$ 1.7
Stock option activity, Number of options
Outstanding at the beginning of the period (in shares)	1,264,562
Exercised (in shares)	0
Canceled (in shares)	(273,950)
Outstanding at the end of the period (in shares)	1,162,660
Stock option activity, Weighted average exercise price
Outstanding at the beginning of the period (in dollars per share)	$ 19.77
Granted (in dollars per share)	12.43
Exercised (in dollars per share)	0
Canceled (in dollars per share)	17.23
Outstanding at the end of the period (in dollars per share)	$ 19.28
Nonvested stock option activity, Nonvested options
Granted (in shares)	172,048
Employee Stock Option [Member] | Minimum
Stock compensation plan
Vesting period	6 months
Exercise period	4 years
Employee Stock Option [Member] | 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)	389,053
Granted (in shares)	172,048
Vested (in shares)	(169,054)
Canceled (in shares)	0
Outstanding at the end of the period (in shares)	392,047
Nonvested stock option activity, Weighted average exercise price
Outstanding at the beginning of the period (in dollars per share)	$ 24.76
Granted (in dollars per share)	12.43
Vested (in dollars per share)	23.82
Canceled (in dollars per share)	0
Outstanding at the end of the period (in dollars per share)	$ 19.76
Restricted Stock Units
Stock compensation plan
Unrecognized compensation costs	$ 0.5
Common Class A [Member]
Stock option activity, Number of options
Exercised (in shares)	0	(22,110)
Common Class A [Member] | 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)	1,453,361

Stock Compensation Plans (Det44

Stock Compensation Plans (Details 2) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended
	Oct. 31, 2016	Apr. 30, 2016
Employee Stock Option [Member]
Stock options outstanding and exercisable
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 1.7
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	1,162,660	1,264,562
Weighted average exercise price (in dollars per share)	$ 19.28
Number of shares exercisable at the end of the period	770,613
Weighted average exercise price (in dollars per share)	$ 19.04
Employee Stock Option [Member] | Exercise Price, Range two
Stock options outstanding and exercisable
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	475,981
Weighted average exercise price (in dollars per share)	$ 14.07
Weighted average remaining contractual life	2 years 5 months
Number of shares exercisable at the end of the period	303,933
Weighted average exercise price (in dollars per share)	$ 15
Employee Stock Option [Member] | Exercise Price, Range three
Stock options outstanding and exercisable
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	290,876
Weighted average exercise price (in dollars per share)	$ 17.90
Weighted average remaining contractual life	3 years 6 months
Number of shares exercisable at the end of the period	263,876
Weighted average exercise price (in dollars per share)	$ 17.94
Employee Stock Option [Member] | Exercise Price, Range Four
Stock options outstanding and exercisable
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	330,387
Weighted average exercise price (in dollars per share)	$ 25.22
Weighted average remaining contractual life	5 years
Number of shares exercisable at the end of the period	167,387
Weighted average exercise price (in dollars per share)	$ 25.09
Employee Stock Option [Member] | Exercise Price, Range Five
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
Number of shares exercisable at the end of the period	35,417
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	$ 0.5
Minimum | Employee Stock Option [Member]
Stock options outstanding and exercisable
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	4 years
Minimum | Employee Stock Option [Member] | Exercise Price, Range two
Stock options outstanding and exercisable
Exercise price, low end of range (in dollars per share)	$ 10.51
Minimum | Employee Stock Option [Member] | Exercise Price, Range three
Stock options outstanding and exercisable
Exercise price, low end of range (in dollars per share)	16.38
Minimum | Employee Stock Option [Member] | Exercise Price, Range Four
Stock options outstanding and exercisable
Exercise price, low end of range (in dollars per share)	22.18
Minimum | Employee Stock Option [Member] | Exercise Price, Range Five
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] | Exercise Price, Range two
Stock options outstanding and exercisable
Exercise price, high end of range (in dollars per share)	$ 15
Maximum | Employee Stock Option [Member] | Exercise Price, Range three
Stock options outstanding and exercisable
Exercise price, high end of range (in dollars per share)	19.75
Maximum | Employee Stock Option [Member] | Exercise Price, Range Four
Stock options outstanding and exercisable
Exercise price, high end of range (in dollars per share)	29.48
Maximum | Employee Stock Option [Member] | Exercise Price, Range Five
Stock options outstanding and exercisable
Exercise price, high end of range (in dollars per share)	$ 33.38

Restricted Stock Units (Details

Restricted Stock Units (Details 3) - Restricted Stock Units - $ / shares	6 Months Ended
	Oct. 31, 2016	Apr. 30, 2016
Restricted Cash and Cash Equivalents Items [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted	13,552
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	30,118	42,792
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted, Weighted Average Grant Date Fair Value	$ 12.79
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	17,118
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	$ 24.58
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations	9,108
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations, Weighted Average Grant Date Fair Value	$ 31.53
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Weighted Average Grant Date Fair Value	$ 19.33	$ 26.10

Fair Value of Financial Instr46

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Oct. 31, 2016	Apr. 30, 2016	Oct. 31, 2015
Assets:
Total recurring and nonrecurring assets		$ 33,530
Accounts and Notes Receivable, Allowance for Uncollected Interest Amounts Due ADs Related Deferred Revenue and Amounts Due Franchisees	$ 9,906	27,609	$ 9,598
Level 1
Assets:
Total recurring and nonrecurring assets		11,263
Level 2
Assets:
Total recurring and nonrecurring assets		0
Level 3
Assets:
Total recurring and nonrecurring assets		22,267
Nonrecurring
Assets:
Impaired accounts and notes receivable	9,519	12,256	7,164
Impaired goodwill		63
Impaired reacquired rights		28
Impaired Acquired Online Customer Lists, Fair Value Disclosure		34
Assets Held for Sale, net of impairment		9,886
Total nonrecurring assets		22,267
Nonrecurring | Level 1
Assets:
Impaired accounts and notes receivable	0	0	0
Impaired goodwill		0
Impaired reacquired rights		0
Impaired Acquired Online Customer Lists, Fair Value Disclosure		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 goodwill		0
Impaired reacquired rights		0
Impaired Acquired Online Customer Lists, Fair Value Disclosure		0
Assets Held for Sale, net of impairment		0
Total nonrecurring assets		0
Nonrecurring | Level 3
Assets:
Impaired accounts and notes receivable	9,519	12,256	$ 7,164
Impaired goodwill		63
Impaired reacquired rights		28
Impaired Acquired Online Customer Lists, Fair Value Disclosure		34
Assets Held for Sale, net of impairment		9,886
Total nonrecurring assets		22,267
Recurring
Assets:
Cash equivalents, money market account		7,140
Available-for-sale Securities		4,123
Assets, Fair Value Disclosure, Recurring		11,263
Accounts and Notes Receivable, Allowance for Uncollected Interest Amounts Due ADs Related Deferred Revenue and Amounts Due Franchisees	798
Recurring | Level 1
Assets:
Cash equivalents, money market account		7,140
Available-for-sale Securities		4,123
Assets, Fair Value Disclosure, Recurring		11,263
Accounts and Notes Receivable, Allowance for Uncollected Interest Amounts Due ADs Related Deferred Revenue and Amounts Due Franchisees	0
Recurring | Level 2
Assets:
Cash equivalents, money market account		0
Available-for-sale Securities		0
Assets, Fair Value Disclosure, Recurring		0
Accounts and Notes Receivable, Allowance for Uncollected Interest Amounts Due ADs Related Deferred Revenue and Amounts Due Franchisees	0
Recurring | Level 3
Assets:
Cash equivalents, money market account		0
Available-for-sale Securities		0
Assets, Fair Value Disclosure, Recurring		$ 0
Accounts and Notes Receivable, Allowance for Uncollected Interest Amounts Due ADs Related Deferred Revenue and Amounts Due Franchisees	$ 798

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	3 Months Ended		6 Months Ended
	Oct. 31, 2016	Jul. 31, 2016	Oct. 31, 2016	Oct. 31, 2015
Related Party Transaction [Line Items]
Number of shares			3,118,000	70,635,000
License Costs			$ 10,000
Directors and Affiliated Companies and Officers [Member] | CANADA | License Purchase [Domain] [Domain]
Related Party Transaction [Line Items]
License Costs	$ 900,000	$ 700,000

Commitments and Contingencies (

Commitments and Contingencies (Details) - $ / shares	Dec. 06, 2016	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015
Commitments and contingencies
Dividends declared per share of common stock and common stock equivalents		$ 0.16	$ 0.16	$ 0.32	$ 0.32
Subsequent Event [Member]
Commitments and contingencies
Dividends declared per share of common stock and common stock equivalents	$ 0.16

Subsequent Event Subsequent 49

Subsequent Event Subsequent Events (Details) $ in Millions	Nov. 10, 2016USD ($)
Subsequent Event [Member]
Subsequent Event [Line Items]
AD Repurchase Auction Program	$ 5