Franchise (TAX) 10-Q 9 Mar 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Jan. 31, 2017	Mar. 02, 2017
Entity Information [Line Items]
Entity Registrant Name	Liberty Tax, Inc.
Entity Central Index Key	1,528,930
Document Type	10-Q
Document Period End Date	Jan. 31, 2017
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	Q3
Common Class A [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		12,682,550
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	Jan. 31, 2017	Apr. 30, 2016	Jan. 31, 2016
Current assets:
Cash and cash equivalents	$ 3,459	$ 9,906	$ 1,787
Receivables:
Accounts receivable	63,013	49,908	59,865
Notes receivable - current	79,122	26,710	90,858
interest receivable, current, net	5,201	1,944	5,156
Allowance for doubtful accounts - current	(8,529)	(6,840)	(5,993)
Total current receivables, net	138,807	71,722	149,886
Assets Held for Sale	17,549	9,886	11,164
Income taxes receivable	12,827	0	16,303
Deferred income tax asset	3,881	3,496	3,354
Other current assets	23,079	5,838	21,188
Total current assets	199,602	100,848	203,682
Property, equipment, and software, net of accumulated depreciation of $25,681, $21,052 and $19,825, respectively	41,734	40,957	41,216
Notes, Loans and Financing Receivable, Gross, Noncurrent	27,455	25,514	34,374
Allowance for Doubtful Accounts Receivable, Noncurrent	(1,713)	(2,010)	(1,338)
Notes, Loans and Financing Receivable, Net, Noncurrent	25,742	23,504	33,036
Goodwill	4,811	4,228	4,069
Other intangible assets, net	22,648	16,270	13,217
Other assets	3,214	7,416	8,458
Total assets	297,751	193,223	303,678
Current liabilities:
Current installments of long-term obligations	5,688	5,947	5,220
Accounts payable and accrued expenses	22,259	11,664	15,506
Due to Area Developers	13,157	24,977	16,258
Income taxes payable	0	3,581	0
Deferred revenue - current	3,436	4,682	4,413
Total current liabilities	44,540	50,851	41,397
Long-term obligations, excluding current installments, net of debt issuance costs of $70, $108 and $122, respectively	19,238	17,493	18,410
Revolving credit facility	131,215	0	150,682
Deferred revenue - non-current	5,307	7,056	7,206
Deferred income tax liability	8,203	6,322	6,049
Total liabilities	208,503	81,722	223,744
Stockholders’ equity:
Additional paid-in capital	7,862	7,153	6,385
Accumulated other comprehensive loss, net of taxes	(1,673)	(1,698)	(2,430)
Retained earnings	82,920	105,907	75,840
Total stockholders’ equity	89,248	111,501	79,934
Total liabilities and stockholders’ equity	297,751	193,223	303,678
Special voting preferred stock
Stockholders’ equity:
Preferred stock	0	0	0
Class A common stock
Stockholders’ equity:
Common stock	127	120	120
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 ($)	Jan. 31, 2017	Apr. 30, 2016	Jan. 31, 2016
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ 25,681,000	$ 21,052,000	$ 19,825,000
Finite-Lived Intangible Assets, Accumulated Amortization	8,376,000	$ 6,866,000	$ 6,339,000
unamortized debt issuance costs	$ (70,000)
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	12,681,245	11,993,292	11,969,604
Common stock, shares outstanding	12,681,245	11,993,292	11,969,604
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		9 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Jan. 31, 2017	Jan. 31, 2016
Class of Stock [Line Items]
Net Income (Loss) Available to Common Stockholders, Basic	$ 2,278	$ 4,395	$ (16,317)	$ (12,870)
Revenues:
Franchise fees	522	1,011	1,126	2,526
Area Developer fees	1,001	1,363	3,118	4,491
Royalties and advertising fees	19,078	25,571	21,862	28,589
Financial products	18,745	17,266	19,528	17,781
Interest income	3,246	3,188	8,500	7,503
Tax preparation fees, net of discounts	3,883	3,843	5,803	4,805
Other revenue	1,948	1,379	2,869	3,320
Total revenue	48,423	53,621	62,806	69,015
Operating expenses:
Employee compensation and benefits	11,240	11,638	29,836	28,454
Selling, general, and administrative expenses	18,193	12,585	35,679	29,097
Area Developer expense	5,958	9,340	6,979	10,722
Advertising expense	5,424	8,972	8,838	14,072
Depreciation, amortization, and impairment charges	2,503	2,118	6,330	5,626
Total operating expenses	43,318	44,653	87,662	87,971
Income (loss) from operations	5,105	8,968	(24,856)	(18,956)
Other income (expense):
Foreign currency transaction gain (loss)	15	(14)	(10)	(39)
Available-for-sale Securities, Gross Realized Gain (Loss)	0	0	50	0
Interest expense	(977)	(705)	(2,053)	(1,592)
Income (loss) before income taxes	4,143	8,249	(26,869)	(20,587)
Income tax expense (benefit)	1,688	3,511	(10,552)	(7,717)
Net income (loss)	2,455	4,738	(16,317)	(12,870)
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic	$ 177	$ 343	$ 0	$ 0
Net loss per share of Class A and Class B common stock:
Earnings Per Share, Basic and Diluted	$ 0.18	$ 0.34	$ (1.26)	$ (1.01)
Earnings Per Share, Diluted	$ 0.18	$ 0.34	$ (1.26)	$ (1.01)
Weighted Average Number of Shares Outstanding, Basic and Diluted	12,902,577	12,795,367	12,899,757	12,794,185
Weighted Average Number of Shares Outstanding, Diluted	13,924,210	14,002,356	12,899,757	12,794,185
Dividends declared per share of common stock and common stock equivalents	$ 0.16	$ 0.16	$ 0.48	$ 0.48
Common Class B [Member]
Class of Stock [Line Items]
Net Income (Loss) Available to Common Stockholders, Basic	$ 35	$ 309
Net loss per share of Class A and Class B common stock:
Earnings Per Share, Basic and Diluted	$ 0.18	$ 0.34	$ (1.26)	$ (1.01)
Earnings Per Share, Diluted	$ 0.17	$ 0.34
Weighted Average Number of Shares Outstanding, Basic and Diluted	200,000	900,000	286,232	900,000
Weighted Average Number of Shares Outstanding, Diluted	200,311	913,504
Common Class A [Member]
Class of Stock [Line Items]
Net Income (Loss) Available to Common Stockholders, Basic	$ 2,243	$ 4,086
Net loss per share of Class A and Class B common stock:
Earnings Per Share, Basic and Diluted	$ 0.18	$ 0.34	$ (1.26)	$ (1.01)
Earnings Per Share, Diluted	$ 0.18	$ 0.34
Weighted Average Number of Shares Outstanding, Basic and Diluted	12,702,577	11,895,367	12,613,525	11,894,185
Weighted Average Number of Shares Outstanding, Diluted	13,924,210	14,002,356

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Jan. 31, 2017	Jan. 31, 2016
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax	$ 0	$ (347)	$ 580	$ (347)
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax	0	0	30	0
Net income (loss)	2,455	4,738	(16,317)	(12,870)
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax, Portion Attributable to Parent	(22)	0	(22)	0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax	189	(488)	(513)	(1,362)
Other Comprehensive Income Loss From Forward Contracts Net of Tax	9	(23)	9	(23)
Comprehensive income (loss)	$ 2,631	$ 3,880	$ (16,293)	$ (14,602)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Comprehensive Loss parentheticals - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Jan. 31, 2017	Jan. 31, 2016
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	9 Months Ended
	Jan. 31, 2017	Jan. 31, 2016
Cash flows from operating activities:
Net income (loss)	$ (16,317)	$ (12,870)
Adjustments to reconcile net loss to net cash used in operating activities:
Provision for doubtful accounts	6,482	4,589
Depreciation, amortization, and impairment charges	6,330	5,626
Stock-based compensation expense	1,520	1,348
Share-based Compensation Related To The Liability Classified Awards	(50)	0
Gain on bargain purchases and sales of Company-owned offices	(634)	(470)
Deferred tax expense	1,046	7,253
Increase (Decrease) in Income Taxes Payable	(16,728)	(18,283)
Changes in other assets and liabilities	(43,694)	(55,476)
Net cash used in operating activities	(62,045)	(68,283)
Cash flows from investing activities:
Issuance of operating loans to franchisees	(63,670)	(81,364)
Payments received on operating loans to franchisees	4,065	3,077
Purchases of AD rights and Company-owned offices	(8,141)	(3,713)
Proceeds from sale of Company-owned offices and AD rights	1,291	2,851
Proceeds from Sale of Available-for-sale Securities	5,049	0
Purchases of property, equipment and software	(4,303)	(8,685)
Net cash used in investing activities	(65,709)	(92,833)
Cash flows from financing activities:
Proceeds from the exercise of stock options	0	1,998
Repurchase of common stock	(417)	(1,977)
Payments of Ordinary Dividends	(6,670)	(6,629)
Repayments of Amounts Due to Former ADs	(1,204)	(2,429)
Repayment of long-term obligations	(3,710)	(726)
Borrowings under revolving credit facility	132,531	151,225
Repayments under revolving credit facility	(1,316)	(543)
Tax effect of stock option exercises	60	933
Net cash provided by financing activities	121,439	141,852
Effect of exchange rate changes on cash, net	(132)	(336)
Net decrease in cash and cash equivalents	(6,447)	(19,600)
Cash and cash equivalents at beginning of period	9,906	21,387
Cash and cash equivalents at end of period	3,459	1,787
Supplemental disclosures of cash flow information:
Cash paid for interest, net of capitalized interest of $106 and $225, respectively	1,702	974
Cash paid for taxes, net of refunds	5,062	2,374
Capital Expenditures Incurred but Not yet Paid	7	292
During the nine months ended January 31, 2017 and 2016, the Company acquired certain assets from ADs, franchisees, and third parties as follows:
Fair value of assets purchased	27,016	15,087
Receivables applied, net of amounts due ADs and related deferred revenue	(11,656)	(9,391)
Business Combination, Bargain Purchase, Gain Recognized, Amount	(513)	(451)
Notes and accounts payable issued	(6,706)	(1,532)
Cash paid to ADs, franchisees and third parties	8,141	3,713
During the nine months ended January 31, 2017 and 2016, the Company sold certain assets to ADs and franchisees as follows:
Book value of assets sold	9,287	8,505
Gain on sale - revenue deferred	(98)	(156)
Loss on sale - loss recognized	617	1,688
Notes received	(6,552)	(7,186)
Notes and Accounts Payable Assumed	1,963	0
Cash received from ADs and franchisees	1,291	2,851
Payments to Acquire Available-for-sale Securities	0	(4,999)
Proceeds from Issuance of Long-term Debt	2,200	0
Payments of Financing Costs	$ (35)	$ 0

Organization and Significant Ac

Organization and Significant Accounting Policies	9 Months Ended
	Jan. 31, 2017
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 Area Developers ("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 The following table shows the U.S. office activity and the number of Canadian and Company-owned offices for the 2017, 2016 and 2015 tax seasons: Tax Season 2017 2016 2015 U.S. Office Locations: Permanent Office Locations: Operated during the prior tax season 3,960 3,764 3,663 Offices opened 172 453 397 Offices closed (422 ) (257 ) (296 ) Operated during the current tax season 3,710 3,960 3,764 Seasonal Office Locations: Operated during the prior tax season 211 262 486 Offices opened 37 127 118 Offices closed (181 ) (178 ) (342 ) Operated during the current tax season 67 211 262 Processing Centers 46 54 43 Total U.S. Office Locations 3,823 4,225 4,069 Canada Office Locations 254 262 259 Total Office Locations 4,077 4,487 4,328 Additional Office Information: Company-owned offices 362 310 182 Franchised offices 3,715 4,177 4,146 Total Office Locations 4,077 4,487 4,328 SiempreTax+ is operating 159 offices during the 2017 tax season compared to 144 during the 2016 season and 57 during the 2015 season. These offices include second locations opened by current franchisees in existing territories, conversions of existing Liberty Tax offices and offices opened in new territories. Territory Sales During the first nine months of fiscal 2017, we sold approximately 85 new territories, compared to approximately 180 during the same period in fiscal 2016 and 160 in fiscal 2015. Use of Estimates Management has made a number of estimates and assumptions relating to the reporting of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period, to prepare these condensed consolidated financial statements and accompanying notes in conformity with GAAP. Actual results could differ from those estimates. Accounting Pronouncements In May 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 ASU 2015-15 applies retrospectively and does not change the recognition and measurement requirements for debt issuance costs. The adoption of ASU 2015-03 and ASU 2015-15 resulted in the reclassification of $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 January 31, 2017 , April 30, 2016 and January 31, 2016 , respectively. In May 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. In March 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 standard 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 standard to its consolidated financial statements. In August 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 standard to its consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, "Measurement of Credit Losses on Financial Instruments", which changes how companies will measure credit losses for most financial assets and certain other instruments that aren't measured at fair value through net income. The standard replaces the "incurred loss" approach with an "expected loss" model for instruments measured at amortized cost (which generally will result in the earlier recognition of allowances for losses) and requires companies to record allowances for available-for-sale debt securities, rather than reduce the carrying amount. In addition, companies will have to disclose significantly more information, including information used to track credit quality by year of origination, for most financing receivables. The ASU should be applied as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the standard is effective. The ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted for all entities for annual periods beginning after December 15, 2018, and interim periods therein. The ASU is effective for the Company beginning in the first quarter of fiscal year 2021. The Company is currently evaluating the impact of the adoption of this newly issued standard to its consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, “Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” This new standard eliminates Step 2 from the goodwill impairment test. Instead, an entity should compare the fair value of a reporting unit with its carrying amount and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The standard will be effective for the Company in the first quarter of our fiscal year 2021. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of this newly issued standard to its consolidated financial statements. In January 2017, the FASB issued ASU 2017-01, “Business Combinations (Topic 805): Clarifying the Definition of a Business.” This new standard clarifies the definition of a business in order to allow for the evaluation of whether transactions should be accounted for as acquisitions or disposals of assets or businesses. The standard will be effective for the Company in the first quarter of our fiscal year 2019. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of this newly issued standard to its consolidated financial statements. Foreign Operations Canadian operations contributed $0.5 million and $0.3 million in revenues for the three months ended January 31, 2017 and 2016 , respectively and $1.7 million and $1.6 million in revenues for the nine months ended January 31, 2017 and 2016 .

Notes and Accounts Receivable

Notes and Accounts Receivable	9 Months Ended
	Jan. 31, 2017
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 $13.2 million , $25.0 million , and $16.3 million at January 31, 2017 , April 30, 2016 and January 31, 2016 , respectively. At January 31, 2017 , the Company had unfunded lending commitments for working capital loans to franchisees and ADs of $22.3 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 three and nine months ended January 31, 2017 and 2016 was as follows: Three Months Ended January 31, Nine Months Ended January 31, 2017 2016 2017 2016 (In thousands) Balance at beginning of period $ 8,991 $ 8,075 $ 8,850 $ 7,355 Provision for doubtful accounts 3,195 1,192 6,482 4,589 Write-offs (1,967 ) (1,883 ) (5,051 ) (4,461 ) Foreign currency adjustment 23 (53 ) (39 ) (152 ) Balance at end of period $ 10,242 $ 7,331 $ 10,242 $ 7,331 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 January 31, 2017 , April 30, 2016 and January 31, 2016 , was allocated as follows: January 31, 2017 April 30, 2016 January 31, 2016 (In thousands) Impaired: Notes and interest receivable, net of unrecognized revenue $ 10,012 $ 12,960 $ 6,466 Accounts receivable 6,341 7,083 4,274 Less amounts due to ADs and franchisees (589 ) (1,426 ) (727 ) Amounts receivable less amounts due to ADs and franchisees $ 15,764 $ 18,617 $ 10,013 Allowance for doubtful accounts for impaired notes and accounts receivable $ 6,814 $ 7,787 $ 3,693 Non-impaired: Notes and interest receivable, net of unrecognized revenue $ 101,766 $ 41,208 $ 123,922 Accounts receivable 56,672 42,825 55,591 Less amounts due to ADs and franchisees (12,994 ) (26,183 ) (16,170 ) Amounts receivable less amounts due to ADs and franchisees $ 145,444 $ 57,850 $ 163,343 Allowance for doubtful accounts for non-impaired notes and accounts receivable $ 3,428 $ 1,063 $ 3,638 Total: Notes and interest receivable, net of unrecognized revenue $ 111,778 $ 54,168 $ 130,388 Accounts receivable 63,013 49,908 59,865 Less amounts due to ADs and franchisees (13,583 ) (27,609 ) (16,897 ) Amounts receivable less amounts due to ADs and franchisees $ 161,208 $ 76,467 $ 173,356 Total allowance for doubtful accounts $ 10,242 $ 8,850 $ 7,331 The Company’s average investment in impaired notes receivable during the nine months ended January 31, 2017 and 2016 was $11.5 million and $8.7 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 January 31, 2017 was as follows: Past due Current Interest receivable, net Total receivables (In thousands) Accounts receivable $ 34,288 $ 28,725 $ — $ 63,013 Notes and interest receivable, net of unrecognized revenue (1) 10,253 96,324 5,201 111,778 Total accounts, notes and interest receivable $ 44,541 $ 125,049 $ 5,201 $ 174,791 (1) Interest receivable is shown net of an allowance for uncollectible interest of $1.8 million . The Company’s investment in notes receivable on non-accrual status was $11.6 million , $5.5 million and $6.0 million at January 31, 2017 , April 30, 2016 , and January 31, 2016 , respectively. Payments received on notes in non-accrual status are applied to the principal until the note is current then to interest income.

Investments (Notes)

Investments (Notes)	9 Months Ended
	Jan. 31, 2017
Investments, Debt and Equity Securities [Abstract]
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	Other current assets at January 31, 2017 , April 30, 2016 and January 31, 2016 consists of the following: January 31, 2017 April 30, 2016 January 31, 2016 (In thousands) Financial products receivable $ 12,991 $ 677 $ 14,483 Other current assets 10,088 5,161 6,705 Total $ 23,079 $ 5,838 $ 21,188 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.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Jan. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Changes in the carrying amount of goodwill for the nine months ended January 31, 2017 and 2016 were as follows: January 31, 2017 January 31, 2016 (In thousands) Balance at beginning of period $ 4,228 $ 3,377 Acquisitions of assets from franchisees and others 858 975 Disposals and foreign currency changes, net (185 ) (283 ) Impairments (90 ) — Balance at end of period $ 4,811 $ 4,069 The impairment recorded for the nine months ended January 31, 2017 was determined using a discounted cash flow analysis. Components of intangible assets were as follows as of January 31, 2017 , April 30, 2016 and January 31, 2016 : January 31, 2017 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 $ (546 ) $ 481 Assets acquired from franchisees: Customer lists 4 years 1,555 (667 ) 888 Reacquired rights 2 years 430 (422 ) 8 AD rights 10 years 26,521 (6,741 ) 19,780 Acquired assets pending final allocation (1) - 1,491 — 1,491 Total intangible assets $ 31,024 $ (8,376 ) $ 22,648 (1) Represents recent business acquisitions for which final purchase price allocations have not yet been determined. 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 January 31, 2016 Weighted average amortization period Gross carrying amount Accumulated amortization Net carrying amount (In thousands) Amortizable intangible assets: Customer lists acquired from unrelated third parties 4 years $ 1,027 $ (254 ) $ 773 Assets acquired from franchisees: Customer lists 4 years 1,394 (634 ) 760 Reacquired rights 2 years 441 (407 ) 34 AD rights 10 years 16,694 (5,044 ) 11,650 Total intangible assets $ 19,556 $ (6,339 ) $ 13,217 The Company acquired $8.1 million , and $1.9 million of AD rights during the nine months ended January 31, 2017 and 2016, respectively. During the nine months ended January 31, 2017 , the Company acquired the assets of U.S. or Canadian franchisees, or third parties for $2.6 million . During the nine months ended January 31, 2016 , the Company acquired the assets of U.S. and Canadian franchisees for $2.2 million . The allocation of the purchase price of assets acquired from franchisees and third parties is as follows: Nine Months Ended January 31, 2017 2016 (In thousands) Customer lists and reacquired rights $ 277 $ 822 Accounts receivable — 320 Property, equipment, and software 20 40 Reacquired rights — — Goodwill 858 975 Acquired assets pending final allocation 1,491 — Total $ 2,646 $ 2,157

Assets Held For Sale (Notes)

Assets Held For Sale (Notes)	9 Months Ended
	Jan. 31, 2017
Assets Held For Sale Disclosure [Abstract]
Assets Held for Sale	Assets Held For Sale At the end of the third quarter of fiscal 2017 and 2016 , assets acquired from U.S. franchisees were classified as assets held for sale. During the nine months ended January 31, 2017 , the Company acquired $16.3 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 $8.1 million and goodwill of $8.2 million prior to being recorded as assets held for sale. The value of assets acquired includes $2.1 million of estimated contingent consideration that is included in long-term obligations as due to former ADs and franchisees. During the nine months ended January 31, 2016 , the Company acquired $11.8 million in assets from U.S. franchisees and third parties that were first accounted for as business combinations, with the value allocated to customer lists and reacquired rights of $5.2 million and goodwill of $6.3 million prior to being recorded as assets held for sale. The acquired businesses are operated as Company-owned offices until a buyer is located and a new franchise agreement is entered into. Changes in the carrying amount of assets held for sale for the nine months ended January 31, 2017 and 2016 were as follows: Nine Months Ended January 31, 2017 2016 (In thousands) Balance at beginning of period $ 9,886 $ 5,160 Reacquired, acquired from third parties, and other 16,334 11,820 Dispositions and impairments (8,671 ) (5,816 ) Balance at end of period $ 17,549 $ 11,164

Debt

Debt	9 Months Ended
	Jan. 31, 2017
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 certain refundable tax credits. The average interest rate paid during the nine months ended January 31, 2017 and 2016 was 2.23% and 1.84% , 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 credit facility to zero for a period of at least 45 consecutive days each fiscal year. The Company was in compliance with the financial covenants at January 31, 2017 . In December 2016, the Company obtained a mortgage payable to a bank in monthly installments of principle payments plus interest at the one-month LIBOR plus 1.85% through December 2026 with a balloon payment of $0.8 million due at maturity. The mortgage is collateralized by land and building. Long-term obligations at January 31, 2017 , April 30, 2016 , and January 31, 2016 consisted of the following: January 31, 2017 April 30, 2016 January 31, 2016 (In thousands) Credit Facility: Revolver $ 131,215 $ — $ 150,682 Term loan, net of debt issuance costs 17,391 18,884 19,667 148,606 18,884 170,349 Due former ADs, franchisees and third parties 5,345 2,317 1,720 Mortgages 2,190 2,239 2,243 156,141 23,440 174,312 Less: current installments (5,688 ) (5,947 ) (5,220 ) Long-term obligations $ 150,453 $ 17,493 $ 169,092 As discussed in Note 1, the adoption of ASU 2015-03 and ASU 2015-15 resulted in the reclassification of $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 January 31, 2017 , April 30, 2016 and January 31, 2016 , respectively.

Forward Contracts (Notes)

Forward Contracts (Notes)	9 Months Ended
	Jan. 31, 2017
Foreign Currency [Abstract]
Forward Contracts [Text Block]	Forward Contracts Related to Foreign Currency Exchange Rates and Cash Flow Hedge The Company periodically enters into forward contracts to eliminate the exposure related to foreign currency fluctuations in connection with short-term advances made to its Canadian subsidiary. Foreign currency contracts with a fair value of $9,000 are included in other current assets at January 31, 2017. Foreign currency contracts with a fair value of $23,000 are included in accounts payable and accrued expenses at January 31, 2016. In December 2016, in connection with obtaining a mortgage payable to a bank, the Company entered into an interest rate swap agreement that allows it to manage fluctuations in cash flow resulting from changes in the interest rate on the mortgage. This swap effectively changes the variable-rate of the Company's mortgage into a fixed rate of 4.12% .The Company has designated this swap agreement as a cash flow hedge. At January 31, 2017, the fair value of the interest rate swap is less than $0.1 million and is included in accounts payable and accrued expenses. The interest rate swap expires in December 2026.

Income Taxes

Income Taxes	9 Months Ended
	Jan. 31, 2017
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	9 Months Ended
	Jan. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Compensation Plans	Stock Compensation Plans Stock Options The Company has an equity and cash incentive plan, for the issuance of up to 2,500,000 shares of Class A common stock in which employees and outside directors are eligible to receive awards. At January 31, 2017 , 961,588 shares of Class A common stock remain available for grant. Stock option activity during the nine months ended January 31, 2017 was as follows: Number of options Weighted average exercise price Balance at beginning of period 1,264,562 $ 19.77 Granted 512,119 12.61 Exercised — — Expired or forfeited (274,150 ) 17.22 Balance at end of period 1,502,531 17.80 Intrinsic value is defined as the market value of the stock less the cost to exercise. There were no options exercised during the nine months ended January 31, 2017 . The total intrinsic value of stock options outstanding at January 31, 2017 was $0.4 million . Stock options vest from six months to five years from the date of grant and expire from four to five years after the vesting date. Nonvested stock options activity during the nine months ended January 31, 2017 was as follows: Nonvested options Weighted average exercise price Balance at beginning of period 389,053 $ 24.76 Granted 512,119 12.61 Vested (179,054 ) 23.75 Forfeited — — Balance at end of period 722,118 16.40 At January 31, 2017 , unrecognized compensation costs related to nonvested stock options were $2.2 million . These costs are expected to be recognized through fiscal 2021. The following table summarizes information about stock options outstanding and exercisable at January 31, 2017 : 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 - $15.00 815,852 $ 13.50 4.3 303,733 $ 15.00 16.38 - 19.75 290,876 17.90 3.2 263,876 17.94 22.18 - 29.48 330,387 25.22 4.8 177,387 24.95 33.38 65,416 33.38 4.2 35,417 33.38 1,502,531 17.80 780,413 19.09 Restricted Stock Units Restricted stock activity during the nine months ended January 31, 2017 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 165,454 12.62 Vested (17,118 ) 24.58 Forfeited (9,108 ) 31.53 Balance at end of period 182,020 13.71 At January 31, 2017 , unrecognized compensation costs related to restricted stock units were $2.3 million . These costs are expected to be recognized through fiscal 2022.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Jan. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Financial assets and liabilities subject to fair value measurements on a recurring basis are classified according to a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. Valuation methodologies for the fair value hierarchy are as follows: • Level 1 — Quoted prices for identical assets and liabilities in active markets. • Level 2 — Quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and model-based valuations in which all significant inputs are observable in the market. • Level 3 — Unobservable inputs in which little or no market data exists, therefore, requiring an entity to develop its own assumptions. The Company measures or monitors certain of its assets and liabilities on a fair value basis. Fair value is used on a recurring basis for those assets and liabilities for which fair value is the primary basis of accounting. Other assets and liabilities are measured at fair value on a nonrecurring basis; that is, they are subject to fair value adjustments in certain circumstances, such as when there is evidence of impairment. The following tables present, at January 31, 2017 , April 30, 2016 and January 31, 2016 , for each of the fair value hierarchy levels, the assets and liabilities that are measured at fair value on a recurring and nonrecurring basis (in thousands): January 31, 2017 Fair value measurements using Total Level 1 Level 2 Level 3 Assets: Recurring: Forward contract related to foreign currency exchange rates $ 9 $ — $ — $ 9 Nonrecurring: Impaired accounts and notes receivable 9,539 — — 9,539 Impaired goodwill 870 — — 870 Total nonrecurring assets 10,409 — — 10,409 Total recurring and nonrecurring assets $ 10,418 $ — $ — $ 10,418 Liabilities: Recurring: Obligations due former ADs and franchisees $ 2,052 $ — $ — $ 2,052 Interest rate swap agreement 36 — — 36 Total recurring liabilities $ 2,088 $ — $ — $ 2,088 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 January 31, 2016 Fair value measurements using Total Level 1 Level 2 Level 3 Assets: Recurring: Available-for-sale securities $ 4,444 $ 4,444 $ — $ — Forward contracts related to foreign currency exchange rates 23 — 23 — Nonrecurring: Impaired accounts and notes receivable 7,047 — — 7,047 Total recurring and nonrecurring assets $ 11,514 $ 4,444 $ 23 $ 7,047 The Company’s policy is to recognize transfers between levels of the fair value hierarchy on the date of the event or change in circumstances that caused the transfer. There were no transfers into or out of level 1 or 2 requiring fair value measurements for each of the nine months ended January 31, 2017 and 2016 . 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 and when appropriate a discounted cash flow model. 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	9 Months Ended
	Jan. 31, 2017
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 . During the three months ended January 31, 2017, the Company repurchased 30,035 shares of Class A common stock from an affiliate of a director for $0.4 million .

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Jan. 31, 2017
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. JTH Tax, Inc. and SiempreTax LLC v. Gregory Aime, Aime Consulting, LLC, Aime Consulting, Inc. and Wolf Ventures, Inc. (Case No. 2:16-cv-279). The Company filed suit in the United States District Court for the Eastern District of Virginia against the defendants, former Company franchisees, on June 9, 2016, as amended on June 22, 2016, claiming the defendants breached the purchase and sale agreement (the “PSA”) entered between the parties on January 21, 2016 and that the defendants had failed to comply with the post termination obligations of the franchise agreements (together with the PSA, the “Aime Agreements”). The Company sought damages in an amount equal to three times the defendants’ earnings and profits, as well as injunctive relief to enforce the defendants to comply with the post termination obligations of the Aime Agreements, to be determined by the trier of fact. The Company specifically sought, in part, to enjoin the defendants from continued operation of a tax preparation business using the Company’s protected trademarks, enforcement of the non-compete provision of the Aime Agreements, and an order that the defendants assign all of the leases related to the franchised businesses to the Company. On July 1, 2016, the Magistrate Judge issued a report and recommendation finding a likelihood of success on the merits and recommending entry of the requested temporary restraining order (the “TRO”) in favor of the Company, which was adopted in part on August 3, 2016. On September 9, 2016, the defendants filed an answer and counterclaim against the Company, alleging breach of the PSA, breach of the implied covenant of good faith and fair dealing and fraud and seeking approximately $2.4 million in damages, plus future loss profits, punitive damages and other expenses. After a three-day bench trial, on January 13, 2017, the court vacated the TRO, finding in favor of the defendants. On February 15, 2017, the court issued its written opinion and order granting the defendants’ breach of contract and breach of the implied covenant of good faith and fair dealing claims, denying the Company’s claims against the defendants and finding certain post termination obligations to be unenforceable. Judgment was entered in favor of the defendants for approximately $2.7 million. The Company has recorded a liability for the judgment against it and a receivable for the estimated insurance recovery. The Company intends to vigorously defend its position and pursue an appeal of the judgment. 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)	9 Months Ended
	Jan. 31, 2017
Subsequent Events [Abstract]
Subsequent Events [Text Block]	Subsequent Events On March 7, 2017, the Board of Directors approved a quarterly cash dividend to stockholders of $0.16 per share payable on or about April 24, 2017 to holders of record of common stock and common stock equivalents on April 12, 2017.

Organization and Significant 21

Organization and Significant Accounting Policies (Policies)	9 Months Ended
	Jan. 31, 2017
Accounting Policies [Abstract]
Description of Business	(1) 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 Area Developers ("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 The following table shows the U.S. office activity and the number of Canadian and Company-owned offices for the 2017, 2016 and 2015 tax seasons: Tax Season 2017 2016 2015 U.S. Office Locations: Permanent Office Locations: Operated during the prior tax season 3,960 3,764 3,663 Offices opened 172 453 397 Offices closed (422 ) (257 ) (296 ) Operated during the current tax season 3,710 3,960 3,764 Seasonal Office Locations: Operated during the prior tax season 211 262 486 Offices opened 37 127 118 Offices closed (181 ) (178 ) (342 ) Operated during the current tax season 67 211 262 Processing Centers 46 54 43 Total U.S. Office Locations 3,823 4,225 4,069 Canada Office Locations 254 262 259 Total Office Locations 4,077 4,487 4,328 Additional Office Information: Company-owned offices 362 310 182 Franchised offices 3,715 4,177 4,146 Total Office Locations 4,077 4,487 4,328 SiempreTax+ is operating 159 offices during the 2017 tax season compared to 144 during the 2016 season and 57 during the 2015 season. These offices include second locations opened by current franchisees in existing territories, conversions of existing Liberty Tax offices and offices opened in new territories.
Territory Sales Policy [Policy Text Block]	Territory Sales During the first nine months of fiscal 2017, we sold approximately 85 new territories, compared to approximately 180 during the same period in fiscal 2016 and 160 in fiscal 2015.
Use of Estimates	Use of Estimates Management has made a number of estimates and assumptions relating to the reporting of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period, to prepare these condensed consolidated financial statements and accompanying notes in conformity with GAAP. Actual results could differ from those estimates.
New Accounting Pronouncements, Policy	Accounting Pronouncements In May 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 ASU 2015-15 applies retrospectively and does not change the recognition and measurement requirements for debt issuance costs. The adoption of ASU 2015-03 and ASU 2015-15 resulted in the reclassification of $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 January 31, 2017 , April 30, 2016 and January 31, 2016 , respectively. In May 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. In March 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 standard 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 standard to its consolidated financial statements. In August 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 standard to its consolidated financial statements.
Foreign Operations	Foreign Operations Canadian operations contributed $0.5 million and $0.3 million in revenues for the three months ended January 31, 2017 and 2016 , respectively and $1.7 million and $1.6 million in revenues for the nine months ended January 31, 2017 and 2016 .

Stockholders' Equity Stockholde

Stockholders' Equity Stockholders' Equity Activity (Policies)	9 Months Ended
	Jan. 31, 2017
Stockholders' Equity Attributable to Parent [Abstract]
Stockholders' Equity Activity [Text Block]	Stockholders’ Equity Stockholders' Equity Activity During the nine months ended January 31, 2017 and 2016 , activity in stockholders’ equity was as follows: Nine Months Ended January 31, 2017 2016 (in thousands, except for share amounts) Class A common stock issued from the exercise of stock options — 132,510 Class A common stock issued from the vesting of restricted stock and as director compensation 20,725 14,293 Class B common stock converted to Class A common shares 700,000 — Class A common stock repurchased 33,153 82,355 Proceeds from exercise of stock options $ — $ 1,998 Stock-based compensation expense 1,520 1,348 Repurchase of common stock 417 1,977 Tax effect of stock option exercises (394 ) 933 Dividends declared 6,670 6,629 During the nine months ended January 31, 2017, 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 January 31, 2017 , April 30, 2016 and January 31, 2016 were as follows. January 31, 2017 April 30, 2016 January 31, 2016 (In thousands) Foreign currency adjustment $ (1,660 ) $ (1,148 ) $ (2,060 ) Unrealized loss on available-for-sale securities, net of taxes of $-, $324, and $208, respectively — (550 ) (347 ) Forward contracts related to foreign currency exchange rates 9 — (23 ) Unrealized loss on interest rate swap agreement, net of taxes (22 ) — — Total accumulated other comprehensive loss $ (1,673 ) $ (1,698 ) $ (2,430 ) 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 income (loss) per share for the three and nine months ended January 31, 2017 and 2016 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 income per share: Numerator Allocation of undistributed losses $ 2,417 $ 38 $ 4,405 $ 333 Amounts allocated to participating securities: Exchangeable shares (174 ) (3 ) (319 ) (24 ) Net income attributable to common stockholders $ 2,243 $ 35 $ 4,086 $ 309 Denominator Weighted-average common stock outstanding 12,702,577 200,000 11,895,367 900,000 Basic and diluted net income per share $ 0.18 $ 0.18 $ 0.34 $ 0.34 Diluted net income per share: Numerator Allocation of undistributed earnings for basic computation $ 2,243 $ 35 $ 4,086 $ 309 Reallocation of undistributed earnings as a result of assumed conversion of: Class B common stock to Class A common stock 35 — 309 — Exchangeable shares to Class A common stock 177 — 343 — $ 2,455 $ 35 $ 4,738 $ 309 Denominator Number of shares used in basic computation 12,702,577 200,000 11,895,367 900,000 Weighted-average effect of dilutive securities Class B common stock to Class A common stock 200,000 — 900,000 — Exchangeable shares to Class A common stock 1,000,000 — 1,000,000 — Employee stock options 21,633 311 206,989 13,504 13,924,210 200,311 14,002,356 913,504 Diluted net income per share $ 0.18 $ 0.17 $ 0.34 $ 0.34 Diluted net income per share above excludes the impact of shares of potential common stock from the exercise of options to purchase 1,366,871 and 492,611 shares for the three months ended January 31, 2017 and 2016 , respectively, because the effect would be anti-dilutive. Nine Months Ended Nine Months Ended Class A Class B Class A Class B Common Stock Common Stock Common Stock Common Stock (in thousands, except for share and per Basic and diluted net loss per share: Numerator Allocation of undistributed losses $ (15,955 ) $ (362 ) $ (11,965 ) $ (905 ) Denominator Weighted-average common stock outstanding 12,613,525 286,232 11,894,185 900,000 Basic and diluted net loss per share $ (1.26 ) $ (1.26 ) $ (1.01 ) $ (1.01 ) 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 1,277,479 and 1,073,332 shares for the nine months ended January 31, 2017 and 2016 , respectively, because the effect would be anti-dilutive.

Notes and Accounts Receivable (

Notes and Accounts Receivable (Tables)	9 Months Ended
	Jan. 31, 2017
Receivables [Abstract]
Schedule of activity in the allowance for doubtful accounts	Activity in the allowance for doubtful accounts for the three and nine months ended January 31, 2017 and 2016 was as follows: Three Months Ended January 31, Nine Months Ended January 31, 2017 2016 2017 2016 (In thousands) Balance at beginning of period $ 8,991 $ 8,075 $ 8,850 $ 7,355 Provision for doubtful accounts 3,195 1,192 6,482 4,589 Write-offs (1,967 ) (1,883 ) (5,051 ) (4,461 ) Foreign currency adjustment 23 (53 ) (39 ) (152 ) Balance at end of period $ 10,242 $ 7,331 $ 10,242 $ 7,331
Schedule of allocation of allowance for doubtful accounts	The allowance for doubtful accounts at January 31, 2017 , April 30, 2016 and January 31, 2016 , was allocated as follows: January 31, 2017 April 30, 2016 January 31, 2016 (In thousands) Impaired: Notes and interest receivable, net of unrecognized revenue $ 10,012 $ 12,960 $ 6,466 Accounts receivable 6,341 7,083 4,274 Less amounts due to ADs and franchisees (589 ) (1,426 ) (727 ) Amounts receivable less amounts due to ADs and franchisees $ 15,764 $ 18,617 $ 10,013 Allowance for doubtful accounts for impaired notes and accounts receivable $ 6,814 $ 7,787 $ 3,693 Non-impaired: Notes and interest receivable, net of unrecognized revenue $ 101,766 $ 41,208 $ 123,922 Accounts receivable 56,672 42,825 55,591 Less amounts due to ADs and franchisees (12,994 ) (26,183 ) (16,170 ) Amounts receivable less amounts due to ADs and franchisees $ 145,444 $ 57,850 $ 163,343 Allowance for doubtful accounts for non-impaired notes and accounts receivable $ 3,428 $ 1,063 $ 3,638 Total: Notes and interest receivable, net of unrecognized revenue $ 111,778 $ 54,168 $ 130,388 Accounts receivable 63,013 49,908 59,865 Less amounts due to ADs and franchisees (13,583 ) (27,609 ) (16,897 ) Amounts receivable less amounts due to ADs and franchisees $ 161,208 $ 76,467 $ 173,356 Total allowance for doubtful accounts $ 10,242 $ 8,850 $ 7,331
Schedule of aging of accounts and notes receivable	The breakdown of accounts and notes receivable past due at January 31, 2017 was as follows: Past due Current Interest receivable, net Total receivables (In thousands) Accounts receivable $ 34,288 $ 28,725 $ — $ 63,013 Notes and interest receivable, net of unrecognized revenue (1) 10,253 96,324 5,201 111,778 Total accounts, notes and interest receivable $ 44,541 $ 125,049 $ 5,201 $ 174,791

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Jan. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Changes in the carrying amount of goodwill for the nine months ended January 31, 2017 and 2016 were as follows: January 31, 2017 January 31, 2016 (In thousands) Balance at beginning of period $ 4,228 $ 3,377 Acquisitions of assets from franchisees and others 858 975 Disposals and foreign currency changes, net (185 ) (283 ) Impairments (90 ) — Balance at end of period $ 4,811 $ 4,069
Schedule of the amortizable other intangible assets	Components of intangible assets were as follows as of January 31, 2017 , April 30, 2016 and January 31, 2016 : January 31, 2017 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 $ (546 ) $ 481 Assets acquired from franchisees: Customer lists 4 years 1,555 (667 ) 888 Reacquired rights 2 years 430 (422 ) 8 AD rights 10 years 26,521 (6,741 ) 19,780 Acquired assets pending final allocation (1) - 1,491 — 1,491 Total intangible assets $ 31,024 $ (8,376 ) $ 22,648 (1) Represents recent business acquisitions for which final purchase price allocations have not yet been determined. 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 January 31, 2016 Weighted average amortization period Gross carrying amount Accumulated amortization Net carrying amount (In thousands) Amortizable intangible assets: Customer lists acquired from unrelated third parties 4 years $ 1,027 $ (254 ) $ 773 Assets acquired from franchisees: Customer lists 4 years 1,394 (634 ) 760 Reacquired rights 2 years 441 (407 ) 34 AD rights 10 years 16,694 (5,044 ) 11,650 Total intangible assets $ 19,556 $ (6,339 ) $ 13,217

Assets Held For Sale (Tables)

Assets Held For Sale (Tables)	9 Months Ended
	Jan. 31, 2017
Assets Held For Sale Disclosure [Abstract]
Rollforward of Assets Held for Sale	Changes in the carrying amount of assets held for sale for the nine months ended January 31, 2017 and 2016 were as follows: Nine Months Ended January 31, 2017 2016 (In thousands) Balance at beginning of period $ 9,886 $ 5,160 Reacquired, acquired from third parties, and other 16,334 11,820 Dispositions and impairments (8,671 ) (5,816 ) Balance at end of period $ 17,549 $ 11,164

Debt (Tables)

Debt (Tables)	9 Months Ended
	Jan. 31, 2017
Debt Disclosure [Abstract]
Schedule of debt	Long-term obligations at January 31, 2017 , April 30, 2016 , and January 31, 2016 consisted of the following: January 31, 2017 April 30, 2016 January 31, 2016 (In thousands) Credit Facility: Revolver $ 131,215 $ — $ 150,682 Term loan, net of debt issuance costs 17,391 18,884 19,667 148,606 18,884 170,349 Due former ADs, franchisees and third parties 5,345 2,317 1,720 Mortgages 2,190 2,239 2,243 156,141 23,440 174,312 Less: current installments (5,688 ) (5,947 ) (5,220 ) Long-term obligations $ 150,453 $ 17,493 $ 169,092

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Jan. 31, 2017
Equity [Abstract]
Schedule of activity in stockholders' equity	During the nine months ended January 31, 2017 and 2016 , activity in stockholders’ equity was as follows: Nine Months Ended January 31, 2017 2016 (in thousands, except for share amounts) Class A common stock issued from the exercise of stock options — 132,510 Class A common stock issued from the vesting of restricted stock and as director compensation 20,725 14,293 Class B common stock converted to Class A common shares 700,000 — Class A common stock repurchased 33,153 82,355 Proceeds from exercise of stock options $ — $ 1,998 Stock-based compensation expense 1,520 1,348 Repurchase of common stock 417 1,977 Tax effect of stock option exercises (394 ) 933 Dividends declared 6,670 6,629
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	The components of accumulated other comprehensive loss at January 31, 2017 , April 30, 2016 and January 31, 2016 were as follows. January 31, 2017 April 30, 2016 January 31, 2016 (In thousands) Foreign currency adjustment $ (1,660 ) $ (1,148 ) $ (2,060 ) Unrealized loss on available-for-sale securities, net of taxes of $-, $324, and $208, respectively — (550 ) (347 ) Forward contracts related to foreign currency exchange rates 9 — (23 ) Unrealized loss on interest rate swap agreement, net of taxes (22 ) — — Total accumulated other comprehensive loss $ (1,673 ) $ (1,698 ) $ (2,430 )
Schedule of computation of basic and diluted net income (loss) per share	The computation of basic and diluted net income (loss) per share for the three and nine months ended January 31, 2017 and 2016 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 income per share: Numerator Allocation of undistributed losses $ 2,417 $ 38 $ 4,405 $ 333 Amounts allocated to participating securities: Exchangeable shares (174 ) (3 ) (319 ) (24 ) Net income attributable to common stockholders $ 2,243 $ 35 $ 4,086 $ 309 Denominator Weighted-average common stock outstanding 12,702,577 200,000 11,895,367 900,000 Basic and diluted net income per share $ 0.18 $ 0.18 $ 0.34 $ 0.34 Diluted net income per share: Numerator Allocation of undistributed earnings for basic computation $ 2,243 $ 35 $ 4,086 $ 309 Reallocation of undistributed earnings as a result of assumed conversion of: Class B common stock to Class A common stock 35 — 309 — Exchangeable shares to Class A common stock 177 — 343 — $ 2,455 $ 35 $ 4,738 $ 309 Denominator Number of shares used in basic computation 12,702,577 200,000 11,895,367 900,000 Weighted-average effect of dilutive securities Class B common stock to Class A common stock 200,000 — 900,000 — Exchangeable shares to Class A common stock 1,000,000 — 1,000,000 — Employee stock options 21,633 311 206,989 13,504 13,924,210 200,311 14,002,356 913,504 Diluted net income per share $ 0.18 $ 0.17 $ 0.34 $ 0.34 Diluted net income per share above excludes the impact of shares of potential common stock from the exercise of options to purchase 1,366,871 and 492,611 shares for the three months ended January 31, 2017 and 2016 , respectively, because the effect would be anti-dilutive. Nine Months Ended Nine Months Ended Class A Class B Class A Class B Common Stock Common Stock Common Stock Common Stock (in thousands, except for share and per Basic and diluted net loss per share: Numerator Allocation of undistributed losses $ (15,955 ) $ (362 ) $ (11,965 ) $ (905 ) Denominator Weighted-average common stock outstanding 12,613,525 286,232 11,894,185 900,000 Basic and diluted net loss per share $ (1.26 ) $ (1.26 ) $ (1.01 ) $ (1.01 )

Stock Compensation Plans (Table

Stock Compensation Plans (Tables)	9 Months Ended
	Jan. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of information about stock options outstanding and exercisable	The following table summarizes information about stock options outstanding and exercisable at January 31, 2017 : 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 - $15.00 815,852 $ 13.50 4.3 303,733 $ 15.00 16.38 - 19.75 290,876 17.90 3.2 263,876 17.94 22.18 - 29.48 330,387 25.22 4.8 177,387 24.95 33.38 65,416 33.38 4.2 35,417 33.38 1,502,531 17.80 780,413 19.09
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	Restricted stock activity during the nine months ended January 31, 2017 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 165,454 12.62 Vested (17,118 ) 24.58 Forfeited (9,108 ) 31.53 Balance at end of period 182,020 13.71
Schedule of stock option activity	Stock option activity during the nine months ended January 31, 2017 was as follows: Number of options Weighted average exercise price Balance at beginning of period 1,264,562 $ 19.77 Granted 512,119 12.61 Exercised — — Expired or forfeited (274,150 ) 17.22 Balance at end of period 1,502,531 17.80
Schedule of nonvested (options that did not vest in the period in which granted) stock option activity	Nonvested stock options activity during the nine months ended January 31, 2017 was as follows: Nonvested options Weighted average exercise price Balance at beginning of period 389,053 $ 24.76 Granted 512,119 12.61 Vested (179,054 ) 23.75 Forfeited — — Balance at end of period 722,118 16.40

Fair Value of Financial Instr29

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Jan. 31, 2017
Fair Value Disclosures [Abstract]
Schedule of the assets and liabilities that are measured at fair value on a recurring and nonrecurring basis, for each of the fair value hierarchy levels	The following tables present, at January 31, 2017 , April 30, 2016 and January 31, 2016 , for each of the fair value hierarchy levels, the assets and liabilities that are measured at fair value on a recurring and nonrecurring basis (in thousands): January 31, 2017 Fair value measurements using Total Level 1 Level 2 Level 3 Assets: Recurring: Forward contract related to foreign currency exchange rates $ 9 $ — $ — $ 9 Nonrecurring: Impaired accounts and notes receivable 9,539 — — 9,539 Impaired goodwill 870 — — 870 Total nonrecurring assets 10,409 — — 10,409 Total recurring and nonrecurring assets $ 10,418 $ — $ — $ 10,418 Liabilities: Recurring: Obligations due former ADs and franchisees $ 2,052 $ — $ — $ 2,052 Interest rate swap agreement 36 — — 36 Total recurring liabilities $ 2,088 $ — $ — $ 2,088 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 January 31, 2016 Fair value measurements using Total Level 1 Level 2 Level 3 Assets: Recurring: Available-for-sale securities $ 4,444 $ 4,444 $ — $ — Forward contracts related to foreign currency exchange rates 23 — 23 — Nonrecurring: Impaired accounts and notes receivable 7,047 — — 7,047 Total recurring and nonrecurring assets $ 11,514 $ 4,444 $ 23 $ 7,047

Organization and Significant 30

Organization and Significant Accounting Policies (Details)	3 Months Ended		9 Months Ended
	Jan. 31, 2017USD ($)	Jan. 31, 2016USD ($)	Jan. 31, 2017USD ($)territoryoffice	Jan. 31, 2016USD ($)territoryoffice	Jan. 31, 2015territoryoffice
Geographical concentration
New Territories Sold | territory			85	180	160
Siempre Offices Operated | office			159	144	57
Revenues	$ 48,423,000	$ 53,621,000	$ 62,806,000	$ 69,015,000
unamortized debt issuance costs	(70,000)		(70,000)
CANADA
Geographical concentration
Revenues	$ 500,000	$ 300,000	$ 1,700,000	$ 1,600,000

Organization and Significant 31

Organization and Significant Accounting Policies Office Count (Details) - office	9 Months Ended			12 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Jan. 31, 2015	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2014
office count [Line Items]
Siempre Offices Operated	159	144	57
Operated during the prior tax season				3,960	3,764	3,663
Significant Changes, Franchises Opened	172	453	397
Significant Changes, Franchises Closed	(422)	(257)	(296)
Significant Changes, Franchised Outlets in Operation	3,710	3,960	3,764
Processing Centers	46	54	43
us franchise locations	3,823	4,225	4,069
Canada office locations	254	262	259
office locations	4,077	4,487	4,328
company-owned offices	362	310	182
franchised offices	3,715	4,177	4,146
Total office locations	4,077	4,487	4,328
seasonal office location [Member]
office count [Line Items]
Operated during the prior tax season				211	262	486
Significant Changes, Franchises Opened	37	127	118
Significant Changes, Franchises Closed	(181)	(178)	(342)
Significant Changes, Franchised Outlets in Operation	67	211	262

Accounts and Notes Receivables

Accounts and Notes Receivables - USD ($) $ in Thousands	9 Months Ended
	Jan. 31, 2017	Apr. 30, 2016	Jan. 31, 2016
Schedule of Activity Related to Notes Receivable
Notes, Loans and Financing Receivable, Gross, Current	$ 79,122	$ 26,710	$ 90,858
Notes, Loans and Financing Receivable, Gross, Noncurrent	27,455	25,514	34,374
Activity related to notes receivable
Amounts payable to area developers for their share of receivables	13,157	$ 24,977	$ 16,258
Accounts and Notes Receivable, Unfunded Lending Commitments for Working Capital Loans to Franchisees and Area Developers	$ 22,300
Franchise-related notes
Activity related to notes receivable
Notes Receivable	5 years
Interest rate (as a percent)	12.00%
Working capital and equipment notes
Activity related to notes receivable
Notes Receivable	1 year

Accounts and Notes Receivable A

Accounts and Notes Receivable Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Jan. 31, 2017	Jan. 31, 2016	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			$ 11,500	$ 8,700
Accounts and Notes Receivable, Allowance for Uncollected Interest Amounts Due ADs Related Deferred Revenue and Amounts Due Franchisees	$ 13,583	$ 16,897	13,583	16,897		$ 27,609
Accounts and Notes Receivable, Net	161,208	173,356	161,208	173,356		76,467
Allowance for Doubtful Accounts Receivable Additions Charged to Expenses	3,195	1,192	6,482	4,589
Allowance for Doubtful Accounts Receivable, Write-offs	(1,967)	(1,883)	(5,051)	(4,461)
Allowance for Doubtful Accounts Receivable Foreign Currency Adjustment	(23)	53	39	152
Allowance for Doubtful Accounts Receivable	10,242	7,331	10,242	7,331	$ 8,991	8,850	$ 8,075	$ 7,355
Accounts and Notes Receivable, Unfunded Lending Commitments for Working Capital Loans to Franchisees and Area Developers	22,300		22,300
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	589	727	589	727		1,426
Accounts and Notes Receivable, Net	15,764	10,013	15,764	10,013		18,617
Allowance for Doubtful Accounts Receivable, Current	6,814	3,693	6,814	3,693		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	12,994	16,170	12,994	16,170		26,183
Accounts and Notes Receivable, Net	145,444	163,343	145,444	163,343		57,850
Allowance for Doubtful Accounts Receivable, Current	3,428	3,638	3,428	3,638		1,063
Notes Receivable [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Accounts and Notes Receivable Gross	111,778	130,388	111,778	130,388		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	10,012	6,466	10,012	6,466		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	101,766	123,922	101,766	123,922		41,208
Trade Accounts Receivable [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Accounts and Notes Receivable Gross	63,013	59,865	63,013	59,865		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	6,341	4,274	6,341	4,274		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	$ 56,672	$ 55,591	$ 56,672	$ 55,591		$ 42,825

Analysis of Past Due Receivable

Analysis of Past Due Receivables - USD ($) $ in Thousands	9 Months Ended
	Jan. 31, 2017	Apr. 30, 2016	Jan. 31, 2016
Aging of accounts and notes receivable
Interest receivable, net of allowance for uncollectible amount	$ 1,800
Past due	44,541
Allowance for uncollectible interest	125,049
Financing Receivable Allowance for Uncollected Interest	5,201
Total receivables	174,791
Accounts receivable
Aging of accounts and notes receivable
Past due	34,288
Allowance for uncollectible interest	28,725
Financing Receivable Allowance for Uncollected Interest	0
Total receivables	$ 63,013
Past due period	30 days
Notes receivable
Aging of accounts and notes receivable
Past due	$ 10,253
Allowance for uncollectible interest	96,324
Financing Receivable Allowance for Uncollected Interest	5,201
Total receivables	$ 111,778
Past due period	90 days
Financing Receivable, Recorded Investment, Nonaccrual Status	$ 11,600	$ 5,500	$ 6,000

Investments investments (Detail

Investments investments (Details) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Apr. 30, 2016
Schedule of Available-for-sale Securities [Line Items]
Unbilled Receivables, Current	$ 12,991	$ 14,483	$ 677
Other Assets, Miscellaneous, Current	10,088	6,705	5,161
Payments to Acquire Available-for-sale Securities	0	4,999
Unrealized Loss on Securities	0	(347)	(550)
Available-for-sale Securities, Gross Realized Gains	50,000
Investments and Other Noncurrent Assets	$ 23,079	$ 21,188	5,838
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	9 Months Ended
	Jan. 31, 2017	Jan. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, Balance at Beginning of Period	$ 4,228	$ 3,377
Acquisitions of assets from franchisees and others	858	975
Goodwill, Disposals and foreign currency changes, net	(185)	(283)
Goodwill Impairments, Gross	(90)	0
Goodwill, Balance at End of Period	$ 4,811	$ 4,069

Components of Intangible Assets

Components of Intangible Assets - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Apr. 30, 2016
Amortizable other intangible assets:
AD Repurchase Auction Program	$ 8,100	$ 1,900
Gross carrying amount	31,024	19,556	$ 23,136
Accumulated amortization	(8,376)	(6,339)	(6,866)
Net carrying amount	$ 22,648	$ 13,217	$ 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	(546)	(254)	(339)
Net carrying amount	$ 481	$ 773	$ 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	$ 1,555	$ 1,394	$ 1,380
Accumulated amortization	(667)	(634)	(500)
Net carrying amount	$ 888	$ 760	$ 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	$ 430	$ 441	$ 511
Accumulated amortization	(422)	(407)	(482)
Net carrying amount	$ 8	$ 34	$ 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	$ 26,521	$ 16,694	$ 20,218
Accumulated amortization	(6,741)	(5,044)	(5,545)
Net carrying amount	19,780	11,650	$ 14,673
Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Amortizable other intangible assets:
Net carrying amount		$ 13,217
Acquired assets pending allocation [Member]
Amortizable other intangible assets:
Gross carrying amount	1,491
Accumulated amortization	0
Net carrying amount	$ 1,491

Purchase Price of Assets Acquir

Purchase Price of Assets Acquired from Franchisees - USD ($) $ in Thousands	9 Months Ended
	Jan. 31, 2017	Jan. 31, 2016
Goodwill [Line Items]
Goodwill and Intangible Asset Impairment	$ 2,646	$ 2,157

Goodwill and Intangible Asset39

Goodwill and Intangible Assets Goodwill and Intangible Assets (Textuals) (Details) - USD ($) $ in Thousands	9 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Apr. 30, 2016
Goodwill [Line Items]
Finite-Lived Customer Lists, Gross	$ 277	$ 822
Accounts Receivable, Net, Current	0	320
Property, Plant and Equipment, Net	41,734	41,216	$ 40,957
Finite-Lived Contractual Rights, Gross	0	0
Goodwill, Impaired, Accumulated Impairment Loss	858	975
Goodwill, Not Allocated, Amount	1,491	0
Goodwill and Intangible Asset Impairment	2,646	2,157
Property, Plant and Equipment, Other Types [Member]
Goodwill [Line Items]
Property, Plant and Equipment, Net	$ 20	$ 40

Assets Held For Sale Narrative

Assets Held For Sale Narrative (Details) - USD ($) $ in Thousands	9 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Apr. 30, 2016
Accounts and Notes Receivable, Allowance for Uncollected Interest Amounts Due ADs Related Deferred Revenue and Amounts Due Franchisees	$ 13,583	$ 16,897	$ 27,609
Finite-lived Intangible Assets Reacquired and Acquired		11,820
UNITED STATES
Finite-lived Intangible Assets Reacquired and Acquired	16,334	11,800
Customer Lists and Reacquired Rights [Member] | UNITED STATES
Finite-lived Intangible Assets Acquired	8,100	5,200
Goodwill [Member] | UNITED STATES
Finite-lived Intangible Assets Acquired	$ 8,200	$ 6,300

Assets Held For Sale Carrying A

Assets Held For Sale Carrying Amount of Assets HFS (table) (Details) - USD ($) $ in Thousands	9 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Apr. 30, 2016	Apr. 30, 2015
Property, Plant and Equipment [Line Items]
Assets Held for Sale	$ 17,549	$ 11,164	$ 9,886	$ 5,160
Finite-lived Intangible Assets Reacquired and Acquired		11,820
finite-lived intangible assets disposed	(8,671)	(5,816)
UNITED STATES
Property, Plant and Equipment [Line Items]
Finite-lived Intangible Assets Reacquired and Acquired	$ 16,334	$ 11,800

Debt (Details)

Debt (Details)	9 Months Ended
	Jan. 31, 2017USD ($)	Apr. 30, 2016USD ($)	Jan. 31, 2016USD ($)
Credit facility
Total debt	$ 156,141,000	$ 23,440,000	$ 174,312,000
Less: current installments	(5,688,000)	(5,947,000)	(5,220,000)
Long-term obligations	$ 150,453,000	17,493,000	169,092,000
Days to Have Zero Debt	45
unamortized debt issuance costs	$ (70,000)
Revolver
Credit facility
Maximum borrowing capacity	203,800,000
Line of credit facility, increased availability	50,000,000
Total debt	$ 131,215,000	0	150,682,000
Outstanding Balance	zero
Term loan
Credit facility
Maximum borrowing capacity	$ 21,200,000
Total debt	17,391,000	18,884,000	19,667,000
Credit facility
Credit facility
Total debt	$ 148,606,000	18,884,000	$ 170,349,000
Line of Credit Facility, Average Interest Rate Paid	2.23%		1.84%
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	$ 5,345,000	2,317,000	$ 1,720,000
Other debt
Credit facility
Total debt	$ 2,190,000	$ 2,239,000	$ 2,243,000

Forward Contracts (Details)

Forward Contracts (Details) - USD ($) number in Thousands	Jan. 31, 2017	Jan. 31, 2016
Forward Contracts [Abstract]
Foreign Currency Contracts, Liability, Fair Value Disclosure	$ 9,000	$ 23,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	0.00%
Interest Rate Derivative Liabilities, at Fair Value	$ 100,000

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Jan. 31, 2017	Jan. 31, 2016	Apr. 30, 2016
Stockholders' Equity
Unrealized Gain (Loss) on Derivatives			$ (22)	$ 0	$ 0
Available-for-sale Securities, Income Tax Expense on Change in Unrealized Holding Gain (Loss)			$ 0	$ 0	324
Earnings Per Share, Basic and Diluted	$ 0.18	$ 0.34	$ (1.26)	$ (1.01)
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax	$ (1,660)	$ (2,060)	$ (1,660)	$ (2,060)	(1,148)
Unrealized Loss on Securities			0	(347)	(550)
Investment Owned, Foreign Currency Contract, Current Value	$ (9)	23	$ (9)	$ 23	0
Incremental Common Shares Attributable to Converted Shares of Preferred Stock			700,000	0
Proceeds from the exercise of stock options			$ 0	$ 1,998
Stock-based compensation expense			$ 1,520	$ 1,348
Class A common shares repurchased	30,035		33,153,000	82,355,000
Repurchase of common stock			$ 417	$ 1,977
Income Tax Effects Allocated Directly to Equity, Employee Stock Options			(394)
Tax effect of stock option exercises			60	933
Payments of Ordinary Dividends			6,670	6,629
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ (1,673)	$ (2,430)	$ (1,673)	$ (2,430)	$ (1,698)
Weighted Average Number of Shares Outstanding, Basic and Diluted	12,902,577	12,795,367	12,899,757	12,794,185
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	1,366,871	492,611	1,277,479	1,073,332
Net Income (Loss) Available to Common Stockholders, Basic	$ 2,278	$ 4,395	$ (16,317)	$ (12,870)
Weighted Average Number of Shares Outstanding, Diluted	13,924,210	14,002,356	12,899,757	12,794,185
Earnings Per Share, Diluted	$ 0.18	$ 0.34	$ (1.26)	$ (1.01)
Class A common stock
Stockholders' Equity
Net Income (Loss) Available to Common Stockholders, Diluted	$ 2,455	$ 4,738
Weighted Average Number of Shares Outstanding, Basic	12,702,577	11,895,367
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	21,633	206,989
net income (loss) available to common shareholders, basic and diluted	$ 2,417	$ 4,405	$ (15,955)	$ (11,965)
Earnings Per Share, Basic and Diluted	$ 0.18	$ 0.34	$ (1.26)	$ (1.01)
Class A common shares issued from the exercise of stock options			0	132,510
Class A common stock issued from the vesting of restricted stock and as director compensation			20,725	14,293
Weighted Average Number of Shares Outstanding, Basic and Diluted	12,702,577	11,895,367	12,613,525	11,894,185
Antidilutive securities
Dilutive Securities, Effect on Basic Earnings Per Share	$ (174)	$ (319)
Net Income (Loss) Available to Common Stockholders, Basic	$ 2,243	$ 4,086
Weighted Average Number of Shares Outstanding, Diluted	13,924,210	14,002,356
Earnings Per Share, Diluted	$ 0.18	$ 0.34
Amount of Dilutive Securities Class B Common Stock	$ 35	$ 309
Amount of Dilutive Securities Exchangeable Shares	$ 177	$ 343
Incremental Common Shares Attributably to Conversion of Class B Common Stock	200,000	900,000
Incremental Common Shares Attributable to Conversion of Exchangeable Shares	1,000,000	1,000,000
Class B common stock
Stockholders' Equity
Net Income (Loss) Available to Common Stockholders, Diluted	$ 35	$ 309
Weighted Average Number of Shares Outstanding, Basic	200,000	900,000
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	311	13,504
net income (loss) available to common shareholders, basic and diluted	$ 38	$ 333	$ (362)	$ (905)
Earnings Per Share, Basic and Diluted	$ 0.18	$ 0.34	$ (1.26)	$ (1.01)
Weighted Average Number of Shares Outstanding, Basic and Diluted	200,000	900,000	286,232	900,000
Antidilutive securities
Dilutive Securities, Effect on Basic Earnings Per Share	$ (3)	$ (24)
Net Income (Loss) Available to Common Stockholders, Basic	$ 35	$ 309
Weighted Average Number of Shares Outstanding, Diluted	200,311	913,504
Earnings Per Share, Diluted	$ 0.17	$ 0.34
Amount of Dilutive Securities Class B Common Stock	$ 0	$ 0
Amount of Dilutive Securities Exchangeable Shares	$ 0	$ 0
Incremental Common Shares Attributably to Conversion of Class B Common Stock	0	0
Incremental Common Shares Attributable to Conversion of Exchangeable Shares	0	0

Stock Compensation Plans (Detai

Stock Compensation Plans (Details) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended
	Jan. 31, 2017	Jan. 31, 2016
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	$ 19.09
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	$ 0.4
Unrecognized compensation costs	$ 2.2
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)	(274,150)
Outstanding at the end of the period (in shares)	1,502,531
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)	12.61
Exercised (in dollars per share)	0
Canceled (in dollars per share)	17.22
Outstanding at the end of the period (in dollars per share)	$ 17.80
Nonvested stock option activity, Nonvested options
Granted (in shares)	512,119
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)	512,119
Vested (in shares)	(179,054)
Canceled (in shares)	0
Outstanding at the end of the period (in shares)	722,118
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)	12.61
Vested (in dollars per share)	23.75
Canceled (in dollars per share)	0
Outstanding at the end of the period (in dollars per share)	$ 16.40
Restricted Stock Units
Stock compensation plan
Unrecognized compensation costs	$ 2.3
Common Class A [Member]
Stock option activity, Number of options
Exercised (in shares)	0	(132,510)
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)	961,588

Stock Compensation Plans (Det46

Stock Compensation Plans (Details 2) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended
	Jan. 31, 2017	Apr. 30, 2016
Employee Stock Option [Member]
Stock options outstanding and exercisable
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 2.2
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	1,502,531	1,264,562
Weighted average exercise price (in dollars per share)	$ 17.80
Number of shares exercisable at the end of the period	780,413
Weighted average exercise price (in dollars per share)	$ 19.09
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	815,852
Weighted average exercise price (in dollars per share)	$ 13.50
Weighted average remaining contractual life	4 years 4 months
Number of shares exercisable at the end of the period	303,733
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 2 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	4 years 10 months
Number of shares exercisable at the end of the period	177,387
Weighted average exercise price (in dollars per share)	$ 24.95
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	4 years 2 months
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	$ 2.3
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	9 Months Ended
	Jan. 31, 2017	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	165,454
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	182,020	42,792
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted, Weighted Average Grant Date Fair Value	$ 12.62
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	$ 13.71	$ 26.10

Fair Value of Financial Instr48

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Jan. 31, 2017	Apr. 30, 2016	Jan. 31, 2016
Assets:
Total recurring and nonrecurring assets	$ 10,418	$ 33,530	$ 11,514
Accounts and Notes Receivable, Allowance for Uncollected Interest Amounts Due ADs Related Deferred Revenue and Amounts Due Franchisees	13,583	27,609	16,897
Interest Rate Derivative Liabilities, at Fair Value	100
Liabilities, Fair Value Disclosure, Recurring	2,088
Level 1
Assets:
Total recurring and nonrecurring assets	0	11,263	4,444
Liabilities, Fair Value Disclosure, Recurring	0
Level 2
Assets:
Total recurring and nonrecurring assets	0	0	23
Liabilities, Fair Value Disclosure, Recurring	0
Level 3
Assets:
Total recurring and nonrecurring assets	10,418	22,267	7,047
Liabilities, Fair Value Disclosure, Recurring	2,088
Nonrecurring
Assets:
Impaired accounts and notes receivable	9,539	12,256	7,047
Impaired goodwill	870	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	10,409	22,267
Nonrecurring | Level 1
Assets:
Impaired accounts and notes receivable	0	0	0
Impaired goodwill	0	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	0
Nonrecurring | Level 2
Assets:
Impaired accounts and notes receivable	0	0	0
Impaired goodwill	0	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	0
Nonrecurring | Level 3
Assets:
Impaired accounts and notes receivable	9,539	12,256	7,047
Impaired goodwill	870	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	10,409	22,267
Recurring
Assets:
Cash equivalents, money market account		7,140
Available-for-sale Securities		4,123	4,444
Foreign Currency Contract, Asset, Fair Value Disclosure	9		23
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	2,052
Interest Rate Derivative Liabilities, at Fair Value	36
Recurring | Level 1
Assets:
Cash equivalents, money market account		7,140
Available-for-sale Securities		4,123	4,444
Foreign Currency Contract, Asset, Fair Value Disclosure	0		0
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
Interest Rate Derivative Liabilities, at Fair Value	0
Recurring | Level 2
Assets:
Cash equivalents, money market account		0
Available-for-sale Securities		0	0
Foreign Currency Contract, Asset, Fair Value Disclosure	0		23
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
Interest Rate Derivative Liabilities, at Fair Value	0
Recurring | Level 3
Assets:
Cash equivalents, money market account		0
Available-for-sale Securities		0	0
Foreign Currency Contract, Asset, Fair Value Disclosure	9		$ 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	2,052
Interest Rate Derivative Liabilities, at Fair Value	$ 36

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jan. 31, 2017	Jul. 31, 2016	Jan. 31, 2017	Jan. 31, 2016
Related Party Transaction [Line Items]
Number of shares	30,035		33,153,000	82,355,000
Payments for Repurchase of Common Stock	$ 0.4
Directors and Affiliated Companies and Officers [Member] | CANADA | License Purchase [Domain] [Domain]
Related Party Transaction [Line Items]
License Costs	$ 0.9	$ 0.7

Commitments and Contingencies (

Commitments and Contingencies (Details) - $ / shares	Mar. 07, 2017	Jan. 31, 2017	Jan. 31, 2016	Jan. 31, 2017	Jan. 31, 2016
Commitments and contingencies
Dividends declared per share of common stock and common stock equivalents		$ 0.16	$ 0.16	$ 0.48	$ 0.48
Subsequent Event [Member]
Commitments and contingencies
Dividends declared per share of common stock and common stock equivalents	$ 0.16