American Woodmark (AMWD) 10-Q 27 Feb 19 2019 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Jan. 31, 2019	Feb. 26, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jan. 31, 2019
Document Fiscal Year Focus	2,019
Document Fiscal Period Focus	Q3
Entity Filer Category	Large Accelerated Filer
Entity Registrant Name	AMERICAN WOODMARK CORP
Entity Central Index Key	794,619
Current Fiscal Year End Date	--04-30
Entity Common Stock, Shares Outstanding		16,869,273
Trading Symbol	amwd
Entity Small Business	false
Entity Emerging Growth Company	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jan. 31, 2019	Apr. 30, 2018
Current assets
Cash and cash equivalents	$ 42,009	$ 78,410
Investments - certificates of deposit	2,500	8,000
Customer receivables, net	117,198	136,355
Inventories	116,116	104,801
Income taxes receivable	791	25,996
Prepaid expenses and other	13,884	10,805
Total current assets	292,498	364,367
Property, plant and equipment, net	211,977	218,102
Investments - certificates of deposit	0	1,500
Goodwill	767,612	767,451
Promotional displays, net	12,943	12,189
Deferred income taxes	726	732
Other assets	16,163	13,337
TOTAL ASSETS	1,532,836	1,645,345
Current liabilities
Accounts payable	56,988	71,096
Current maturities of long-term debt	2,300	4,143
Accrued compensation and related expenses	49,406	48,682
Accrued marketing expenses	12,589	19,289
Other accrued expenses	21,229	27,245
Total current liabilities	142,512	170,455
Long-term debt, less current maturities	709,818	809,897
Deferred income taxes	66,284	71,563
Defined benefit pension liabilities	0	6,960
Other long-term liabilities	6,250	4,805
Shareholders' equity
Preferred stock, $1.00 par value; 2,000,000 shares authorized, none issued	0	0
Common stock, no par value; 40,000,000 shares authorized; issued and outstanding shares at October 31, 2016: 17,503,330; at April 30, 2017: 16,232,775	353,887	361,158
Retained earnings	302,233	269,576
Accumulated other comprehensive loss -
Defined benefit pension plans	(48,148)	(49,069)
Total shareholders' equity	607,972	581,665
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	1,532,836	1,645,345
Customer relationships
Current assets
Intangibles, net	224,528	258,778
Trademarks
Current assets
Intangibles, net	$ 6,389	$ 8,889

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jan. 31, 2019	Apr. 30, 2018
Statement of Financial Position [Abstract]
Preferred stock, par value (in usd per share)	$ 1	$ 1
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued	0	0
Common stock, no par value (in usd per share)
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	16,965,544	17,503,922
Common stock, shares outstanding	16,965,544	17,503,922

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Jul. 31, 2017	Jan. 31, 2019	Jan. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 18,409	$ 1,996	$ 22,281	$ 61,664	$ 44,032
Other comprehensive income, net of tax:
Change in pension benefits, net of deferred taxes of $(105) and $(138), and $(315) and $(450) for the three and nine months ended January 31, 2019 and 2018, respectively	307		$ 262	921	750
Total Comprehensive Income	$ 18,716	$ 2,258		$ 62,585	$ 44,782

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Jul. 31, 2017	Jan. 31, 2019	Jan. 31, 2018
Income Statement [Abstract]
Net sales	$ 384,080	$ 292,791		$ 1,237,920	$ 844,387
Cost of sales and distribution	307,227	242,412		978,569	678,179
Gross Profit	76,853	50,379		259,351	166,208
Selling and marketing expenses	22,215		$ 19,167	68,139	55,397
General and administrative expenses	27,462	23,492		86,010	41,442
Restructuring charges, net	26			2,061	0
Operating Income	27,150		7,720	103,141	69,369
Interest expense, net	8,836	4,035		27,204	2,887
Other income, net	(5,812)		(79)	(6,137)	(117)
Income Before Income Taxes	24,126	3,764		82,074	66,599
Income tax expense	5,717	1,768		20,410	22,567
Net Income	$ 18,409	$ 1,996	$ 22,281	$ 61,664	$ 44,032
Weighted Average Shares Outstanding
Basic (in shares)	17,186,456	16,578,235		17,425,385	16,349,716
Diluted (in shares)	17,216,327	16,690,760		17,466,936	16,461,509
Net earnings per share
Basic (in usd per share)	$ 1.07	$ 0.12		$ 3.54	$ 2.69
Diluted (in usd per share)	$ 1.07	$ 0.12		$ 3.53	$ 2.67

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2019	Jan. 31, 2018
Other comprehensive income, deferred tax	$ (105)	$ (138)	$ (315)	$ (450)

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	COMMON STOCK	RETAINED EARNINGS	ACCUMULATED OTHER COMPREHENSIVE LOSS
Beginning Balance, Shares at Apr. 30, 2017		16,232,775
Beginning Balance at Apr. 30, 2017	$ 352,449	$ 168,835	$ 224,031	$ (40,417)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	44,032		22,281
Other comprehensive loss, net of tax	244			244
Stock-based compensation	945	$ 945
Exercise of stock-based compensation awards, net of amounts withheld for taxes, shares		79,071
Exercise of stock-based compensation awards, net of amounts withheld for taxes	(1,490)	$ (1,490)
Stock repurchases, shares		(56,700)
Stock repurchases	(5,562)	$ (479)	(5,083)
Employee benefit plan contributions, shares		36,264
Employee benefit plan contributions	3,554	$ 3,554
Ending Balance, Shares at Jan. 31, 2018		16,291,410
Ending Balance at Jan. 31, 2018	$ 372,421	$ 171,365	241,229	(40,173)
Beginning Balance, Shares at Apr. 30, 2018	17,503,922	17,503,922
Beginning Balance at Apr. 30, 2018	$ 581,665	$ 361,158	269,576	(49,069)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	24,767
Ending Balance at Jul. 31, 2018	$ 609,907
Beginning Balance, Shares at Apr. 30, 2018	17,503,922	17,503,922
Beginning Balance at Apr. 30, 2018	$ 581,665	$ 361,158	269,576	(49,069)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	61,664		24,767
Other comprehensive loss, net of tax	307			307
Stock-based compensation	786	$ 786
Exercise of stock-based compensation awards, net of amounts withheld for taxes, shares		43,048
Exercise of stock-based compensation awards, net of amounts withheld for taxes	(1,241)	$ (1,241)
Employee benefit plan contributions, shares		41,408
Employee benefit plan contributions	$ 3,623	$ 3,623
Ending Balance, Shares at Jan. 31, 2019	16,965,544	17,588,378
Ending Balance at Jan. 31, 2019	$ 607,972	$ 364,326	$ 294,343	$ (48,762)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Jan. 31, 2019	Jan. 31, 2018
Noncash or Part Noncash Acquisition, Debt Assumed	$ 0	$ 300,000
Stock Issued	0	189,849
OPERATING ACTIVITIES
Net income	61,664,000	44,032,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	70,284,000	21,662,000
Net loss on disposal of property, plant and equipment	661,000	266,000
Amortization of debt issuance costs	2,054,000	0
Unrealized gain on foreign exchange forward contracts	(291,000)	0
Gain on insurance recoveries	(580,000)	0
Stock-based compensation expense	2,290,000	2,506,000
Deferred income taxes	(5,757,000)	13,839,000
Pension contributions in excess of expense	(7,727,000)	(20,526,000)
Excess Tax Benefit from Share-based Compensation, Operating Activities	5,171,000	0
Contributions of employer stock to employee benefit plan	3,623,000	3,554,000
Other non-cash items	(222,000)	(546,000)
Changes in operating assets and liabilities:
Customer receivables	19,201,000	(3,577,000)
Income taxes receivable	27,265,000	(8,652,000)
Inventories	(11,731,000)	235,000
Prepaid expenses and other assets	(5,726,000)	(6,639,000)
Accounts payable	(8,323,000)	(1,373,000)
Accrued compensation and related expenses	724,000	(4,495,000)
Marketing and other accrued expenses	(4,288,000)	8,595,000
Net cash provided by operating activities	137,950,000	48,881,000
INVESTING ACTIVITIES
Payments to acquire property, plant and equipment	(26,294,000)	(31,198,000)
Proceeds from sales of property, plant and equipment	59,000	14,000
Proceeds from insurance recoveries	580,000	0
Acquisition of business, net of cash acquired	(7,182,000)	(57,200,000)
Purchases of certificates of deposit	0	25,000,000
Maturities of certificates of deposit	7,000,000	86,750,000
Investment in promotional displays	(5,462,000)	(1,721,000)
Net cash used by investing activities	(31,299,000)	(28,355,000)
FINANCING ACTIVITIES
Payments of long-term debt	(100,631,000)	(21,397,000)
Proceeds from long-term debt	0	734,000
Proceeds from issuance of common stock	500,000	1,286,000
Repurchase of common stock	(40,950,000)	(29,000,000)
Withholding of employee taxes related to stock-based compensation	(1,739,000)	(2,779,000)
Excess Tax Benefit from Share-based Compensation, Financing Activities	(232,000)	(6,724,000)
Net cash used by financing activities	(143,052,000)	(57,880,000)
Net decrease in cash and cash equivalents	(36,401,000)	(37,354,000)
Cash and cash equivalents, beginning of period	78,410,000	176,978,000
Cash and cash equivalents, end of period	42,009,000	139,624,000
Non-cash investing and financing activities:
Property, plant and equipment included in accounts payable at period end	462	4,687
Noncash Or Part Noncash Acquisition, Other Assets Acquired (Liabilities Assumed)	0	6,154
Cash paid during the period for:
Interest	23,442	272
Income taxes	$ 13,109	$ 17,920

Basis of Presentation

Basis of Presentation	9 Months Ended
	Jan. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete consolidated financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the nine -month period ended January 31, 2019 are not necessarily indicative of the results that may be expected for the fiscal year ending April 30, 2019 . The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes in the Company's Annual Report on Form 10-K for the fiscal year ended April 30, 2018 filed with the U.S. Securities and Exchange Commission (“SEC”). On December 29, 2017, we completed the acquisition of RSI Home Products Inc. ("RSI"), a leading manufacturer of kitchen and bath cabinetry and home organization products. For the three-month and nine-month periods ended January 31, 2019, the consolidated results include three and nine months of RSI activity and in the prior year three and nine months ended January 31, 2018, only RSI activity from December 29, 2017 to January 31, 2018 is included. Goodwill and Intangible Assets: Goodwill represents the excess of purchase price over the net amount of identifiable assets acquired and liabilities assumed in a business combination measured at fair value. The Company does not amortize goodwill but evaluates for impairment annually, or whenever events or changes in circumstances indicate that the carrying value may not be recoverable. In accordance with accounting standards, when evaluating goodwill, an entity has the option first to assess qualitative factors to determine whether events and circumstances indicate that it is more likely than not that goodwill is impaired. If after such assessment an entity concludes that the asset is not impaired, then the entity is not required to take further action. However, if an entity concludes otherwise, then it is required to determine the fair value of the asset using a quantitative impairment test, and if impaired, the associated assets must be written down to fair value. There were no impairment charges related to goodwill for the three- and nine-month periods ended January 31, 2019 and 2018. Intangible assets consist of customer relationship intangibles and trademarks. The Company amortizes the cost of intangible assets over their estimated useful lives, which range from 3 to 6 years, unless such lives are deemed indefinite. There were no impairment charges related to intangible assets for the three- and nine-month periods ended January 31, 2019 and 2018. Foreign Exchange Forward Contracts: In the normal course of business, the Company is subject to risk from adverse fluctuations in foreign exchange rates. The Company manages these risks through the use of foreign exchange forward contracts. The Company recognizes its outstanding forward contracts in the consolidated balance sheets at their fair values. The Company does not designate the forward contracts as accounting hedges. The changes in the fair value of the forward contracts are recorded in other income in the consolidated statements of income. At January 31, 2019, the Company held forward contracts maturing from February 2019 to April 2019 to purchase 105.9 million Mexican pesos at exchange rates ranging from 20.28 to 20.47 Mexican pesos to one U.S. dollar. An asset of $0.3 million is recorded in other current assets on the consolidated balance sheets. Reclassifications : Certain reclassifications have been made to prior period balances to conform to the current year presentation.

New Accounting Pronouncements

New Accounting Pronouncements	9 Months Ended
	Jan. 31, 2019
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update ("ASU") No. 2014-09, “Revenue from Contracts with Customers: Topic 606.” ASU 2014-09 supersedes the revenue recognition requirements in “Accounting Standard Codification 605 - Revenue Recognition” and most industry-specific guidance. The standard requires that entities recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which a company expects to be entitled in exchange for those goods or services. ASU 2014-09 permits the use of either the retrospective or cumulative effect transition method. In August 2015, the FASB issued ASU No. 2015-14, "Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date." ASU 2015-14 defers the effective date of ASU 2014-09 by one year to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that period. The Company adopted ASU 2014-09 as of May 1, 2018 and for periods thereafter using the modified retrospective approach, which was applied to all contracts not completed as of May 1, 2018. The cumulative effect of adopting the new revenue standard was not material. The comparative financial information has not been restated and continues to be reported under the accounting standards in effect for those periods. The adoption of this standard did not have a material impact on the three- and nine-month periods ended January 31, 2019 and the Company does not expect it to have a material impact on revenue or net income on an ongoing basis. See Note O, “Revenue Recognition,” for further information. In February 2016, the FASB issued ASU 2016-02, which requires lessees to recognize almost all leases on their balance sheet as a “right-of-use” asset and lease liability but recognize related expenses in a manner similar to current accounting. The guidance also eliminates current real estate-specific provisions for all entities. In January 2018, the FASB issued ASU 2018-01, which clarifies the application of the new leases guidance to land easements. In July 2018, the FASB issued ASU 2018-10 and ASU 2018-11, which clarify certain guidance included in ASU 2016-02 and introduces a new optional transition method. The standard is effective for annual periods beginning after December 15, 2018. The standard provides for the option to elect a package of practical expedients upon adoption. The Company intends to adopt the standard on May 1, 2019 and is currently planning on electing the package of practical expedients to not reassess prior conclusions related to contracts containing leases, lease classification and initial direct costs and is evaluating the other practical expedients available under the guidance. The Company expects expanded financial statement note disclosure in addition to recognizing a right-of-use asset and lease liability for its operating leases on the balance sheet. In preparation for the adoption of the standard, the Company has procured a third-party software to track and manage the leases. The Company is currently in the process of importing lease data into the software, updating its accounting policy, and modifying its control environment accordingly, and will train personnel on the new standard and policy and the use of the software. The Company has not yet determined the impact of adopting the standard. In March 2017, the FASB issued ASU No. 2017-07, "Compensation—Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost." ASU 2017-07 requires an employer to disaggregate the service cost component from the other components of net benefit (income) cost. The other components of net benefit (income) cost are required to be presented in the income statement separately from the service cost component and outside of operating income. The amendments also allow only the service cost component of net benefit (income) cost to be eligible for capitalization. The amendments in this ASU are effective for fiscal years beginning after December 15, 2017. The amendments in this ASU should be applied (1) retrospectively for the presentation of the service cost component and the other components of net periodic pension (income) cost and net periodic postretirement benefit (income) cost on the income statement, and (2) prospectively, on and after the effective date, for the capitalization of the service cost component of net periodic pension (income) cost and net periodic postretirement benefit (income) cost in assets. The Company adopted ASU 2017-07 as of May 1, 2018 and for periods thereafter using the retrospective approach. The adoption of this standard resulted in immaterial reclassifications from operating income in prior periods. The Company does not expect the adoption of this standard to have a material effect on our financial statements on an ongoing basis.

Acquisition of RSI Home Product

Acquisition of RSI Home Products, Inc. (the "RSI Acquisition")	9 Months Ended
	Jan. 31, 2019
Business Combinations [Abstract]
Acquisition of RSI Home Products, Inc. (the RSI Acquisition)	Acquisition of RSI Home Products, Inc. (the "RSI Acquisition") On November 30, 2017, American Woodmark, Alliance Merger Sub, Inc. ("Merger Sub"), RSI and Ronald M. Simon, as the RSI stockholder representative, entered into a merger agreement (the "Merger Agreement"), pursuant to which the parties agreed to merge Merger Sub with and into RSI pursuant to the terms and subject to the conditions set forth in the Merger Agreement, with RSI continuing as the surviving corporation and as a wholly owned subsidiary of American Woodmark. On December 29, 2017 (the "Acquisition Date"), the Company consummated the RSI Acquisition pursuant to the terms of the Merger Agreement. As a result of the merger of Merger Sub with and into RSI, Merger Sub’s separate corporate existence ceased, and RSI continued as the surviving corporation and a wholly owned subsidiary of American Woodmark. RSI is a leading manufacturer of kitchen and bath cabinetry and home organization products. In connection with the RSI Acquisition, on December 29, 2017, the Company entered into a credit agreement (as subsequently amended, the "Credit Agreement") with a syndicate of lenders and Wells Fargo Bank, National Association ("Wells Fargo"), as administrative agent, providing for a $100 million , 5-year revolving loan facility with a $25 million sub-facility for the issuance of letters of credit (the “Revolving Facility”), a $250 million , 5 -year initial term loan facility (the "Initial Term Loan") and a $250 million delayed draw term loan facility (the "Delayed Draw Term Loan" and, together with the Revolving Facility and the Initial Term Loan, the "Credit Facilities") (See Note M-- Loans Payable and Long-Term Debt for further details). American Woodmark used the full proceeds of the Initial Term Loan and approximately $50 million in loans under the Revolving Facility, together with cash on its balance sheet, to fund the cash portion of the RSI Acquisition consideration and its transaction fees and expenses. At the closing of the RSI Acquisition, American Woodmark assumed approximately $589 million (including accrued interest) of RSI’s indebtedness consisting largely of RSI’s 6½% Senior Secured Second Lien Notes due 2023 (the "RSI Notes"). (See Note M-- Loans Payable and Long-Term Debt ). Allocation of Purchase Price to Assets Acquired and Liabilities Assumed As consideration for the RSI Acquisition, American Woodmark paid total accounting consideration of $554.2 million including (i) cash consideration of $364.4 million , net of cash acquired, and (ii) 1,457,568 newly issued shares of American Woodmark common stock valued at $189.8 million based on $130.25 per share, which was the closing stock price on the Acquisition Date. The consideration paid was subject to a working capital adjustment by which the consideration was adjusted as the amount of working capital delivered at the Acquisition Date was less than a target amount. The working capital adjustment has been finalized and the accounting consideration reflects any adjustment to the estimated working capital reflected in the consideration paid at the Acquisition Date. The Company accounted for the RSI Acquisition as a business combination, which requires the Company to record the assets acquired and liabilities assumed at fair value. The amount by which the purchase price exceeds the fair value of net assets acquired is recorded as goodwill. The Company has obtained the appraisals necessary to assess the fair values of the tangible and intangible assets acquired and liabilities assumed and the amount of goodwill to be recognized as of the Acquisition Date. During the quarter ended October 31, 2018, the Company finalized the purchase price allocation for the RSI Acquisition. The following table summarizes the allocation of the purchase price as of the Acquisition Date, which is based on the accounting consideration of $554.2 million , to the estimated fair value of assets acquired and liabilities assumed (in thousands): Goodwill $ 767,612 Customer relationship intangibles 274,000 Property, plant and equipment 86,275 Inventories 66,293 Customer receivables 54,649 Income taxes receivable 18,926 Trademarks 10,000 Prepaid expenses and other 4,571 Leasehold interests 151 Total identifiable assets and goodwill acquired 1,282,477 Debt 602,313 Deferred income taxes 67,542 Accrued expenses 30,240 Accounts payable 25,113 Notes payable 2,988 Income taxes payable 49 Total liabilities assumed 728,245 Total accounting consideration $ 554,232 The fair value of the assets acquired and liabilities assumed were determined using income, market and cost valuation methodologies. The fair value of debt acquired was determined using Level 1 inputs as quoted prices in active markets for identical liabilities were available. The fair value measurements, aside from debt, were estimated using significant inputs that are not observable in the market and thus represent a Level 3 measurement as defined in Accounting Standards Codification (ASC) 820. The income approach was primarily used to value the customer relationship intangibles and trademarks. The income approach determines value for an asset or liability based on the present value of cash flows projected to be generated over the remaining economic life of the asset or liability being measured. Both the amount and the duration of the cash flows are considered from a market participant perspective. Our estimates of market participant net cash flows considered historical and projected product pricing, operational performance including company specific synergies, product life cycles, material and labor pricing, and other relevant customer, contractual and market factors. The net cash flows are discounted to present value using a discount rate that reflects the relative risk of achieving the cash flow and the time value of money. The market approach is a valuation technique that uses prices and other relevant information generated by market transactions involving identical or comparable assets, liabilities, or a group of assets or liabilities. The cost approach estimates value by determining the current cost of replacing an asset with another of equivalent economic utility. The cost to replace a given asset reflects the estimated reproduction or replacement cost for the property, less an allowance for loss in value due to depreciation. The cost and market approaches were used to value inventory, while the cost approach was the primary approach used to value property, plant and equipment. The purchase price allocation resulted in the recognition of $767.6 million of goodwill, which is not expected to be amortizable for tax purposes. The goodwill recognized is attributable to expected revenue synergies generated by the integration of the Company’s products with RSI's, cost synergies resulting from purchasing and manufacturing activities, and intangible assets that do not qualify for separate recognition, such as the assembled workforce of RSI. Customer receivables were recorded at the contractual amounts due of $57.1 million , less an allowance for returns and discounts of $2.4 million , and an allowance for doubtful accounts of $0.1 million, which approximates their fair value. Determining the fair value of assets acquired and liabilities assumed requires the exercise of significant judgment, including the amount and timing of expected future cash flows, long-term growth rates and discount rates. The cash flows employed in the valuation are based on the Company’s best estimates of future sales, earnings and cash flows after considering factors such as general market conditions, expected future customer orders, contracts with suppliers, labor costs, changes in working capital, long term business plans and recent operating performance. Use of different estimates and judgments could yield different results. Supplemental Pro Forma Financial Information (unaudited) The following table presents summarized unaudited pro forma financial information as if RSI had been included in the Company’s financial results for the three- and nine-month periods ended January 31, 2018: Three months ended Nine months ended January 31, January 31, (in thousands) 2018 2018 Net Sales $ 382,618 $ 1,207,775 Net Income (loss) (1) $ (1,507 ) $ 45,812 Net earnings per share - basic $ (0.09 ) $ 2.60 Net earnings per share - diluted $ (0.08 ) $ 2.58 (1) Includes stock compensation expense of $23.1 million and $17.5 million for the three- and nine-month periods ended January 31, 2018, respectively, calculated under the intrinsic value method in measuring stock-based liability awards related to stock-based grants made by RSI prior to the RSI Acquisition. The unaudited supplemental pro forma financial data for the three- and nine-month periods ended January 31, 2018 assumes the RSI Acquisition occurred on May 1, 2016 and has been calculated after applying the Company’s accounting policies and adjusting the historical results of RSI with pro forma adjustments, net of a statutory tax rate of 34.4% . Significant pro forma adjustments include the recognition of additional amortization expense of $5.0 million and $18.1 million, for the three and nine months ended January 31, 2018, related to acquired intangible assets (net of historical amortization expense of RSI) and additional net interest expense of $0.4 million and $2.7 million, for the three- and nine-month periods ended January 31, 2018, related to the $300.0 million borrowed under the Credit Agreement to finance the acquisition. Transaction expenses, net of tax, of $6.6 million and $6.3 million for the three and nine months ended January 31, 2018, respectively, were also excluded from net income. There were no proforma adjustments for the three and nine months ended January 31, 2019. The unaudited supplemental pro forma financial information does not reflect the realization of any expected ongoing cost or revenue synergies relating to the integration of the two companies. Further, the pro forma data should not be considered indicative of the results that would have occurred if the RSI Acquisition, related financing, and associated issuance of Senior Notes (defined herein) and repurchase or redemption of the RSI Notes had been actually consummated on May 1, 2016, nor are they indicative of future results.

Net Earnings Per Share

Net Earnings Per Share	9 Months Ended
	Jan. 31, 2019
Earnings Per Share [Abstract]
Net Earnings Per Share	Net Earnings Per Share The following table sets forth the computation of basic and diluted net earnings per share: Three Months Ended Nine Months Ended January 31, January 31, (in thousands, except per share amounts) 2019 2018 2019 2018 Numerator used in basic and diluted net earnings per common share: Net income $ 18,409 $ 1,996 $ 61,664 $ 44,032 Denominator: Denominator for basic net earnings per common share - weighted-average shares 17,186 16,578 17,425 16,350 Effect of dilutive securities: Stock options and restricted stock units 30 113 42 112 Denominator for diluted net earnings per common share - weighted-average shares and assumed conversions 17,216 16,691 17,467 16,462 Net earnings per share Basic $ 1.07 $ 0.12 $ 3.54 $ 2.69 Diluted $ 1.07 $ 0.12 $ 3.53 $ 2.67 The Company repurchased a total of 439,081 and 58,371 shares of its common stock during the three-month periods ended January 31, 2019 and 2018 , respectively, and 628,714 and 309,612 shares of its common stock during the nine-month periods ended January 31, 2019 and 2018. An immaterial amount of potentially dilutive securities for the three- and nine-month periods ended January 31, 2019 were excluded from the calculation of net earnings per diluted share. There were no potentially dilutive securities for the three and nine-month periods ended January 31, 2018, which were excluded from the calculation of net earnings per diluted share.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Jan. 31, 2019
Share-based Compensation [Abstract]
Stock-Based Compensation	Stock-Based Compensation The Company has various stock-based compensation plans. During the three-months ended January 31, 2019, the Company did not grant any stock-based compensation awards to employees or non-employee directors. During the nine-months ended January 31, 2019, the Board of Directors of the Company approved grants of service-based RSUs and performance-based RSUs to key employees and non-employee directors. The employee performance-based RSUs totaled 45,615 units and the employee and non-employee director service-based RSUs totaled 30,335 units. The performance-based RSUs entitle the recipients to receive one share of the Company’s common stock per unit granted if applicable performance conditions are met and the recipient remains continuously employed with the Company until the units vest. The service-based RSUs entitle the recipients to receive one share of the Company’s common stock per unit granted if they remain continuously employed with the Company (or, for non-employee directors, serving on the Board of Directors) until the units vest. All of the Company’s RSUs granted to employees cliff-vest three years from the grant date, while RSUs granted to non-employee directors vest daily over a two-year period from the date of the grant. For the three- and nine-month periods ended January 31, 2019 and 2018 , stock-based compensation expense was allocated as follows: Three Months Ended Nine Months Ended (in thousands) 2019 2018 2019 2018 Cost of sales and distribution $ 158 $ 256 $ 502 $ 777 Selling and marketing expenses 64 183 449 385 General and administrative expenses 446 458 1,339 1,344 Stock-based compensation expense $ 668 $ 897 $ 2,290 $ 2,506 During the nine months ended January 31, 2019 , the Company also approved grants of 4,057 cash-settled performance-based restricted stock tracking units ("RSTUs") and 2,243 cash-settled service-based RSTUs for more junior level employees. Each performance-based RSTU entitles the recipient to receive a payment in cash equal to the fair market value of a share of the Company's common stock as of the payment date if applicable performance conditions are met and the recipient remains continuously employed with the Company until the units vest. The service-based RSTUs entitle the recipients to receive a payment in cash equal to the fair market value of a share of the Company's common stock as of the payment date if they remain continuously employed with the Company until the units vest. All of the RSTUs cliff-vest three years from the grant date. Since the RSTUs will be settled in cash, the grant date fair value of these awards is recorded as a liability until the date of payment. The fair value of each cash-settled RSTU award is remeasured at the end of each reporting period and the liability is adjusted, and related expense recorded, based on the new fair value. The Company recognized expense of $0.1 million and $0.6 million for the three-month periods ended January 31, 2019 and 2018 , respectively and $0.2 million and $1.0 million for the nine-month periods ended January 31, 2019 and 2018, respectively. A liability for payment of the RSTUs is included in the consolidated balance sheets in the amount of $ 0.5 million and $ 1.0 million as of January 31, 2019 and April 30, 2018 , respectively.

Customer Receivables

Customer Receivables	9 Months Ended
	Jan. 31, 2019
Accounts Receivable, Net [Abstract]
Customer Receivables	Customer Receivables The components of customer receivables were: January 31, April 30, (in thousands) 2019 2018 Gross customer receivables $ 122,600 $ 142,622 Less: Allowance for doubtful accounts (284 ) (259 ) Allowance for returns and discounts (5,118 ) (6,008 ) Net customer receivables $ 117,198 $ 136,355

Inventories

Inventories	9 Months Ended
	Jan. 31, 2019
Inventory, Net [Abstract]
Inventories	Inventories The components of inventories were: January 31, April 30, (in thousands) 2019 2018 Raw materials $ 50,216 $ 41,728 Work-in-process 46,176 44,905 Finished goods 35,069 34,111 Total FIFO inventories 131,461 120,744 Reserve to adjust inventories to LIFO value (15,345 ) (15,943 ) Total inventories $ 116,116 $ 104,801 Of the total inventory of $116.1 million , $64.1 million is carried under the FIFO method of accounting and $52.0 million is carried under the LIFO method as of January 31, 2019. Of the total inventory of $104.8 million , $56.6 million is carried under the FIFO method and $48.2 million is carried under the LIFO method as of April 30, 2018.

Property, Plant and Equipment

Property, Plant and Equipment	9 Months Ended
	Jan. 31, 2019
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment The components of property, plant and equipment were: January 31, April 30, (in thousands) 2019 2018 Land $ 4,751 $ 4,751 Buildings and improvements 113,892 112,757 Buildings and improvements - capital leases 11,202 11,202 Machinery and equipment 287,065 274,723 Machinery and equipment - capital leases 30,391 30,270 Construction in progress 12,599 10,931 459,900 444,634 Less accumulated amortization and depreciation (247,923 ) (226,532 ) Total $ 211,977 $ 218,102 Amortization and depreciation expense on property, plant and equipment amounted to $9.0 million and $5.1 million for the three-months ended January 31, 2019 and 2018, respectively, and $26.8 million and $12.9 million for the nine-months ended January 31, 2019 and 2018, respectively. Accumulated amortization on capital leases included in the above table amounted to $30.4 million and $30.0 million as of January 31, 2019 and April 30, 2018, respectively.

Intangibles

Intangibles	9 Months Ended
	Jan. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Intangibles	Intangibles The components of intangible assets were: (in thousands) Weighted Average Amortization Period Amortization Method Cost Accumulated Amortization Net Carrying Amount Customer relationships 6 years Straight-line $ 274,000 $ 49,472 $ 224,528 Trademarks 3 years Straight-line 10,000 3,611 6,389 Intangible assets, net $ 53,083 $ 230,917 Amortization expense for the three- and nine-months ended January 31, 2019 was $12.2 million and $36.7 million, respectively. Amortization expense for the three- and nine-months ended January 31, 2018 was $4.1 million, respectively.

Product Warranty

Product Warranty	9 Months Ended
	Jan. 31, 2018
Product Warranties Disclosures [Abstract]
Product Warranty	Product Warranty The Company estimates outstanding warranty costs based on the historical relationship between warranty claims and revenues. The warranty accrual is reviewed monthly to verify that it properly reflects the remaining obligation based on the anticipated expenditures over the balance of the obligation period. Adjustments are made when actual warranty claim experience differs from estimates. Warranty claims are generally made within two months of the original shipment date. The following is a reconciliation of the Company’s warranty liability, which is included in other accrued expenses on the balance sheet: Nine Months Ended January 31, (in thousands) 2019 2018 Beginning balance at May 1 $ 4,045 $ 3,262 Acquisition — 119 Accrual 18,406 14,943 Settlements (18,315 ) (14,760 ) Ending balance at January 31 $ 4,136 $ 3,564

Pension Benefits

Pension Benefits	9 Months Ended
	Jan. 31, 2019
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]
Pension Benefits	Pension Benefits Effective April 30, 2012, the Company froze all future benefit accruals under the Company’s hourly and salary defined-benefit pension plans. Net periodic pension (benefit) cost consisted of the following for the three- and six-month periods ended January 31, 2019 and 2018 : Three Months Ended Nine Months Ended January 31, January 31, (in thousands) 2019 2018 2019 2018 Interest cost $ 1,567 $ 1,431 $ 4,702 $ 4,295 Expected return on plan assets (2,127 ) (2,234 ) (6,382 ) (6,702 ) Recognized net actuarial loss 412 401 1,236 1,201 Net periodic pension benefit $ (148 ) $ (402 ) $ (444 ) $ (1,206 ) The Company contributed $7.3 million to its pension plans in the first nine months of fiscal 2019, which represents both required and discretionary funding, and does not expect to contribute any additional funds during the remainder of fiscal 2019. On November 28, 2018, the Board of Directors approved up to $5.0 million of discretionary funding which is included in the total contributions for the year. The Company made contributions of $19.3 million to its pension plans in fiscal 2018.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Jan. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company utilizes the hierarchy of fair value measurements to classify certain of its assets and liabilities based upon the following definitions: Level 1- Investments with quoted prices in active markets for identical assets or liabilities. The Company’s cash equivalents are invested in money market funds, mutual funds and certificates of deposit. The Company’s mutual fund investment assets represent contributions made and invested on behalf of the Company’s named executive officers in a supplementary employee retirement plan. Level 2- Investments with observable inputs other than Level 1 prices, such as: quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3- Investments with unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The Company has no Level 3 assets or liabilities measured on a recurring basis. The Company's financial instruments include cash and equivalents, marketable securities and other investments; accounts receivable and accounts payable; and short- and long-term debt. The carrying values of cash and equivalents, accounts receivable and payable and short-term debt on the consolidated balance sheets approximate their fair value due to the short maturities of these items. The forward contracts were marked to market and therefore represent fair value. The fair values of these contracts are determined based on inputs that are readily available in public markets or can be derived from information available in publicly quoted markets. The following table summarizes the fair value of assets that are recorded in the Company’s consolidated financial statements as of January 31, 2019 and April 30, 2018 at fair value on a recurring basis (in thousands): Fair Value Measurements As of January 31, 2019 Level 1 Level 2 Level 3 ASSETS: Certificates of deposit $ 2,500 $ — $ — Mutual funds 922 — — Foreign exchange forward contracts — 291 — Total assets at fair value $ 3,422 $ 291 $ — As of April 30, 2018 Level 1 Level 2 Level 3 ASSETS: Certificates of deposit $ 9,500 $ — $ — Mutual funds 1,057 — — Total assets at fair value $ 10,557 $ — $ — There were no transfers between Level 1, Level 2 or Level 3 for assets measured at fair value on a recurring basis.

Loans Payable and Long-Term Deb

Loans Payable and Long-Term Debt	9 Months Ended
	Jan. 31, 2019
Debt Disclosure [Abstract]
Loans Payable and Long-Term Debt	Loans Payable and Long-Term Debt On December 29, 2017, the Company entered into the Credit Agreement, which provides for the Revolving Facility, the Initial Term Loan and the Delayed Draw Term Loan. Also on December 29, 2017, the Company borrowed the entire $250 million available under the Initial Term Loan and approximately $50 million under the Revolving Facility to fund, in part, the cash portion of the RSI Acquisition consideration and the Company’s transaction fees and expenses related to the RSI Acquisition. On February 12, 2018, the Company borrowed the entire $250 million under the Delayed Draw Term in connection with the refinancing of the RSI Notes and to repay, in part, amounts outstanding under the Revolving Facility. In connection with its entry into the Credit Agreement, the Company terminated its prior $35 million revolving credit facility with Wells Fargo. The Company is required to make specified quarterly installments on both the Initial Term Loan and the Delayed Draw Loan. As of January 31, 2019, $180.5 million remained outstanding on each of the Initial Term Loan and the Delayed Draw Loan, which approximate fair value, and no amount was outstanding on the Revolving Facility. The Credit Facilities mature on December 29, 2022. Amounts outstanding under the Credit Facilities bear interest based on a fluctuating rate measured by reference to either, at the Company’s option, a base rate plus an applicable margin or LIBOR plus an applicable margin, with the applicable margin being determined by reference to the Company’s then-current “Total Funded Debt to EBITDA Ratio.” The Company also incurs a quarterly commitment fee on the average daily unused portion of the Revolving Facility during the applicable quarter at a rate per annum also determined by reference to the Company’s then-current “Total Funded Debt to EBITDA Ratio.” In addition, a letter of credit fee will accrue on the face amount of any outstanding letters of credit at a per annum rate equal to the applicable margin on LIBOR loans, payable quarterly in arrears. On January 25, 2019, the Company entered into an amendment to the Credit Agreement (the “Amendment”) that reduced the applicable margin for both LIBOR rate and base rate loans and reduced the commitment fee incurred on unused portions of the Revolving Facility. The Credit Agreement includes certain financial covenants. The Amendment amended these covenants by (i) removing the requirement to maintain a “Total Secured Debt to EBITDA Ratio” of no more than 2.50 to 1.00 and (ii) setting a maximum “Total Funded Debt to EBITDA Ratio” as of the last day of any fiscal quarter ending through January 31, 2020 of no more than 3.50 to 1.00 and thereafter, of no more than 3.25 to 1.00 (with an increase to 3.75 to 1.00 for a certain period upon the consummation of a “Qualified Acquisition”). The maximum Total Funded Debt to EBITDA Ratio applicable prior to the Amendment was 3.75 to 1.00, which was scheduled, prior to the Amendment, to decrease to 3.50 to 1.00 beginning April 30, 2019 and to 3.25 to 1.00 beginning April 30, 2020. The Credit Agreement includes certain additional covenants, including negative covenants that restrict the ability of the Company and certain of its subsidiaries to incur additional indebtedness, create additional liens on its assets, dispose of its assets or engage in a merger or another similar transaction or engage in transactions with affiliates, subject, in each case, to the various exceptions and conditions described in the Credit Agreement. The negative covenants further restrict the Company’s ability to make certain restricted payments, including the payment of dividends and repurchase of common stock, in certain limited circumstances. In September 2018, the Company entered into an amendment to the Credit Agreement that amended the restricted payments covenant to (i) permit unlimited restricted payments so long as the “Total Funded Debt to EBITDA Ratio” would be less than or equal to 2.50 to 1.00 after giving effect to any such payment and no default or event of default has occurred and is continuing or would result from any such payment and (ii) permit up to an aggregate of $50 million in restricted payments not otherwise permitted under the Credit Agreement so long as no default or event of default has occurred and is continuing or would result from any such payment. The Amendment further amended the restricted payments covenant to increase the “Total Funded Debt to EBITDA Ratio” applicable to the exception permitting unlimited restricted payments discussed above to 2.75 to 1.00. The negative covenants in the Credit Agreement also include a covenant restricting the Company’s ability to make certain investments. Prior to the Amendment, the Credit Agreement included an exception to this covenant for investments in an aggregate amount not to exceed the “Cumulative Credit” so long as the Total Funded Debt to EBITDA Ratio was less than or equal to 3.00 to 1.00 after giving effect to any such investment and no default or event of default had occurred and was continuing or would result from any such investment. The Amendment removes the Cumulative Credit cap from this exception such that the Company may make unlimited investments so long as the Total Funded Debt to EBITDA Ratio and the absence of a default or event of default conditions noted in the prior sentence are satisfied. As of January 31, 2019, the Company was in compliance with the covenants included in the Credit Agreement. The Company’s obligations under the Credit Agreement are guaranteed by the Company’s subsidiaries and the obligations of the Company and its subsidiaries are secured by a pledge of substantially all of their respective personal property. On February 12, 2018, the Company issued $350 million in aggregate principal amount of 4.875% Senior Notes due 2026 (the “Senior Notes”). The Senior Notes mature on March 15, 2026 and interest on the Senior Notes is payable semi-annually in arrears on March 15 and September 15 of each year, which payments began on September 15, 2018. The Senior Notes are, and will be, fully and unconditionally guaranteed by each of the Company’s current and future wholly-owned domestic subsidiaries that guarantee the Company’s obligations under the Credit Agreement. The indenture governing the Senior Notes restricts the ability of the Company and the Company’s “restricted subsidiaries” to, as applicable, (i) incur additional indebtedness or issue certain preferred shares, (ii) create liens, (iii) pay dividends, redeem or repurchase stock or make other distributions or restricted payments, (iv) make certain investments, (v) create restrictions on the ability of the “restricted subsidiaries” to pay dividends to the Company or make other intercompany transfers, (vi) transfer or sell assets, (vii) merge or consolidate with a third party and (viii) enter into certain transactions with affiliates of the Company, subject, in each case, to certain qualifications and exceptions as described in the indenture. As of January 31, 2019, the Company and its restricted subsidiaries were in compliance with all covenants under the indenture governing the Senior Notes. At January 31, 2019, the book value of the Senior Notes was $350 million and the fair value was $325 million , based on Level 2 inputs. Economic Development Loans In 2005, the Company entered into two separate loan agreements with the Maryland Economic Development Corporation and the County Commissioners of Allegany County as part of the Company’s capital investment and operations at the Allegany County, Maryland site. The aggregate balance of these loan agreements was $2.2 million as of April 30, 2018. The loan agreements expired at December 31, 2018. Based on the employment levels maintained and the terms of the loan agreements, the Company expects that $2.1 million of aggregate principal and $0.9 million of accrued interest will be forgiven and has derecognized these liabilities into income. The Company expects to repay $0.1 million before the end of fiscal year 2019. The Company had two loan agreements with the West Virginia Economic Development Authority as part of the Company’s capital investment and operations at the South Branch plan located in Hardy County, West Virginia. The loans expired on December 31, 2018 and aggregate principal of $2.3 million and accrued interest of $0.2 million was forgiven as the Company complied with certain employment levels at the facility.

Income Taxes

Income Taxes	9 Months Ended
	Jan. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective income tax rate for the three- and nine-month periods ended January 31, 2019 was 23.7% and 24.9% , respectively, compared with 47.0% and 33.9% in the comparable periods in the prior fiscal year. The decrease in the effective tax rate for both the third quarter and first nine months of fiscal 2019, as compared to the comparable periods in the prior fiscal year, was primarily due to a benefit from the reduction in the tax rate enacted in connection with the Tax Cuts and Jobs Act of 2017 (H.R. 1) (the “Tax Act”) from 35% to 21%. Additionally, the revaluation of deferred tax assets and nondeductible acquisition related expenses resulted in a higher effective tax rate in the comparable periods in the prior fiscal year. This was partially offset by the decrease of the benefit from stock-based compensation transactions and the repeal of the domestic production activities deduction by the Tax Act. During the first nine months of fiscal 2019 and 2018, the Company recognized an excess tax benefit related to stock-based compensation transactions of $0.7 million and $2.3 million , respectively. Comprehensive tax legislation enacted through the Tax Act on December 22, 2017 significantly modified U.S. corporate income tax law. In addition to its corporate income tax rate reduction, several other provisions of the Tax Act impacted the Company's financial statements and related disclosures for the year ended April 30, 2018 or will have an impact on taxes in future years. The Company recognized the income tax effects of the Tax Act in accordance with Staff Accounting Bulletin No. 118 (“SAB 118”) which provides SEC guidance on the application of ASC 740, Income Taxes, in the reporting period in which the Tax Act was signed into law. Accordingly, the Company’s financial statements as of April 30, 2018 reflected provisional amounts for those impacts for which the accounting under ASC 740 was incomplete, but a reasonable estimate could be determined. As of January 31, 2019, we consider the accounting for all impacts of the Tax Act complete. The Company recorded a provisional expense of $1.0 million related to the re-valuation of U.S. deferred taxes as of April 30, 2018. During the nine months ended January 31, 2019, the company recorded $0.3 million of additional expense related to our pension deferred tax liability. No other changes were made to the provisional estimate and no additional measurement period adjustments were recorded. As of April 30, 2018, the Company recorded a reduction in deferred tax assets related to executive compensation of $0.1 million . No further guidance on this provision of the Tax Act was issued by the IRS and no further adjustments were made during the quarter ended January 31, 2019.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Jan. 31, 2019
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Our principal performance obligations are the sale of kitchen, bath and home organization products. We recognize revenue for the sale of goods based on our assessment of when control transfers to our customers. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods to our customers. Payment terms on our product sales normally range from 30 to 90 days. Taxes assessed by a governmental authority that we collect are excluded from revenue. The expected costs associated with our contractual warranties will continue to be recognized as expense when the products are sold. See Note J--Product Warranty for further discussion. We record estimates to reduce revenue for customer programs and incentives, which are considered variable consideration, and include price discounts, volume-based incentives, promotions and cooperative advertising when revenue is recognized in order to determine the amount of consideration the Company will ultimately be entitled to receive. These estimates are based on historical data and projections for each type of customer. In addition, for certain customer program incentives, we receive an identifiable benefit (goods or services) in exchange for the consideration given and record the associated expenditure in selling, general and administrative expenses. We account for shipping and handling costs that occur before the customer has obtained control of a product as a fulfillment activity rather than as a promised service. These costs are classified within selling, general and administrative expenses. The Company disaggregates revenue from contracts with customers into major sales distribution channels as these categories depict the nature, amount, timing and uncertainty of revenues and cash flows that are affected by economic factors. The following table disaggregates our consolidated revenue by major sales distribution channels for the three- and nine-months ended January 31, 2019 and 2018: Three Months Ended Nine Months Ended January 31, January 31, (in thousands) 2019 2018 2019 2018 Home center retailers $ 186,001 $ 115,332 $ 587,592 $ 285,357 Builders 147,343 131,034 482,023 414,778 Independent dealers and distributors 50,736 46,425 168,305 144,252 Net Sales $ 384,080 $ 292,791 $ 1,237,920 $ 844,387

Concentration of Risk

Concentration of Risk	9 Months Ended
	Jan. 31, 2019
Risks and Uncertainties [Abstract]
Concentration of Risk	Concentration of Risks Financial instruments that potentially subject the Company to concentrations of risk consist primarily of cash and cash equivalents and accounts receivable. The Company maintains its cash and cash equivalents with major financial institutions and such balances may, at times, exceed Federal Deposit Insurance Corporation insurance limits. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant risk on cash . Credit is extended to customers based on an evaluation of each customer's financial condition and generally collateral is not required. The Company's customers operate in the new home construction and home remodeling markets. The Company maintains an allowance for bad debt based upon management's evaluation and judgment of potential net loss. The allowance is estimated based upon historical experience, the effects of current developments and economic conditions and of each customer’s current and anticipated financial condition. Estimates and assumptions are periodically reviewed and updated. Any resulting adjustments to the allowance are reflected in current operating results. At January 31, 2019, the Company's two largest customers, Customers A and B, represented 26.4% and 24.4% of the Company's gross customer receivables, respectively. At January 31, 2018, Customers A and B represented 31.3% and 22.0% of the Company’s gross customer receivables, respectively. The following table summarizes the percentage of net sales to the Company's two largest customers for the three- and nine-months ended January 31, 2019 and 2018: Three Months Ended Nine Months Ended January 31, January 31, 2019 2018 2019 2018 Customer A 29.3 24.9 29.0 20.1 Customer B 19.2 14.6 18.4 13.7

Restructuring Charges

Restructuring Charges	9 Months Ended
	Jan. 31, 2019
Restructuring and Related Activities [Abstract]
Restructuring Charges	Restructuring Charges On June 1, 2018, the Company implemented a reduction in force of approximately 54 employees nationwide. Severance and outplacement charges relating to the reduction in force will total approximately $2.1 million and the reduction in force is expected to be substantially completed during fiscal 2019. A reserve for restructuring charges of $0.7 million is included in accrued compensation and related expenses in the consolidated balance sheets. Restructuring reserve balance as of May 1, 2018 $ — Expense 2,061 Payments (1,363) Restructuring reserve balance as of January 31, 2019 $ 698

Other Information

Other Information	9 Months Ended
	Jan. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Other Information	Other Information The Company is involved in suits and claims in the normal course of business, including without limitation product liability and general liability claims, and claims pending before the Equal Employment Opportunity Commission. On at least a quarterly basis, the Company consults with its legal counsel to ascertain the reasonable likelihood that such claims may result in a loss. As required by FASB Accounting Standards Codification Topic 450, “Contingencies”, the Company categorizes the various suits and claims into three categories according to their likelihood for resulting in potential loss: those that are probable, those that are reasonably possible, and those that are deemed to be remote. Where losses are deemed to be probable and estimable, accruals are made. Where losses are deemed to be reasonably possible, a range of loss estimates is determined and considered for disclosure. In determining these loss range estimates, the Company considers known values of similar claims and consults with outside counsel. The Company believes that the aggregate range of loss stemming from the various suits and asserted and unasserted claims that were deemed to be either probable or reasonably possible was not material as of January 31, 2019 .

Acquisition of RSI Home Produ_2

Acquisition of RSI Home Products, Inc. (the "RSI Acquisition") (Tables)	9 Months Ended
	Jan. 31, 2019
Business Combinations [Abstract]
Preliminary Allocation of Purchase Price to Assets Acquired and Liabilities Assumed	The following table summarizes the allocation of the purchase price as of the Acquisition Date, which is based on the accounting consideration of $554.2 million , to the estimated fair value of assets acquired and liabilities assumed (in thousands): Goodwill $ 767,612 Customer relationship intangibles 274,000 Property, plant and equipment 86,275 Inventories 66,293 Customer receivables 54,649 Income taxes receivable 18,926 Trademarks 10,000 Prepaid expenses and other 4,571 Leasehold interests 151 Total identifiable assets and goodwill acquired 1,282,477 Debt 602,313 Deferred income taxes 67,542 Accrued expenses 30,240 Accounts payable 25,113 Notes payable 2,988 Income taxes payable 49 Total liabilities assumed 728,245 Total accounting consideration $ 554,232
Supplemental Pro Forma Financial Information	: Three months ended Nine months ended January 31, January 31, (in thousands) 2018 2018 Net Sales $ 382,618 $ 1,207,775 Net Income (loss) (1) $ (1,507 ) $ 45,812 Net earnings per share - basic $ (0.09 ) $ 2.60 Net earnings per share - diluted $ (0.08 ) $ 2.58

Net Earnings Per Share (Tables)

Net Earnings Per Share (Tables)	9 Months Ended
	Jan. 31, 2019
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the computation of basic and diluted net earnings per share: Three Months Ended Nine Months Ended January 31, January 31, (in thousands, except per share amounts) 2019 2018 2019 2018 Numerator used in basic and diluted net earnings per common share: Net income $ 18,409 $ 1,996 $ 61,664 $ 44,032 Denominator: Denominator for basic net earnings per common share - weighted-average shares 17,186 16,578 17,425 16,350 Effect of dilutive securities: Stock options and restricted stock units 30 113 42 112 Denominator for diluted net earnings per common share - weighted-average shares and assumed conversions 17,216 16,691 17,467 16,462 Net earnings per share Basic $ 1.07 $ 0.12 $ 3.54 $ 2.69 Diluted $ 1.07 $ 0.12 $ 3.53 $ 2.67

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Jan. 31, 2019
Share-based Compensation [Abstract]
Stock-Based Compensation Expense Allocated	For the three- and nine-month periods ended January 31, 2019 and 2018 , stock-based compensation expense was allocated as follows: Three Months Ended Nine Months Ended (in thousands) 2019 2018 2019 2018 Cost of sales and distribution $ 158 $ 256 $ 502 $ 777 Selling and marketing expenses 64 183 449 385 General and administrative expenses 446 458 1,339 1,344 Stock-based compensation expense $ 668 $ 897 $ 2,290 $ 2,506

Customer Receivables (Tables)

Customer Receivables (Tables)	9 Months Ended
	Jan. 31, 2019
Accounts Receivable, Net [Abstract]
Components of Customer Receivables	The components of customer receivables were: January 31, April 30, (in thousands) 2019 2018 Gross customer receivables $ 122,600 $ 142,622 Less: Allowance for doubtful accounts (284 ) (259 ) Allowance for returns and discounts (5,118 ) (6,008 ) Net customer receivables $ 117,198 $ 136,355

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Jan. 31, 2019
Inventory, Net [Abstract]
Components of Inventories	The components of inventories were: January 31, April 30, (in thousands) 2019 2018 Raw materials $ 50,216 $ 41,728 Work-in-process 46,176 44,905 Finished goods 35,069 34,111 Total FIFO inventories 131,461 120,744 Reserve to adjust inventories to LIFO value (15,345 ) (15,943 ) Total inventories $ 116,116 $ 104,801

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	9 Months Ended
	Jan. 31, 2019
Property, Plant and Equipment [Abstract]
Components Of Property, Plant And Equipment	The components of property, plant and equipment were: January 31, April 30, (in thousands) 2019 2018 Land $ 4,751 $ 4,751 Buildings and improvements 113,892 112,757 Buildings and improvements - capital leases 11,202 11,202 Machinery and equipment 287,065 274,723 Machinery and equipment - capital leases 30,391 30,270 Construction in progress 12,599 10,931 459,900 444,634 Less accumulated amortization and depreciation (247,923 ) (226,532 ) Total $ 211,977 $ 218,102

Intangibles (Tables)

Intangibles (Tables)	9 Months Ended
	Jan. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Components of Intangible Assets	The components of intangible assets were: (in thousands) Weighted Average Amortization Period Amortization Method Cost Accumulated Amortization Net Carrying Amount Customer relationships 6 years Straight-line $ 274,000 $ 49,472 $ 224,528 Trademarks 3 years Straight-line 10,000 3,611 6,389 Intangible assets, net $ 53,083 $ 230,917

Product Warranty (Tables)

Product Warranty (Tables)	9 Months Ended
	Jan. 31, 2018
Product Warranties Disclosures [Abstract]
Schedule of Warranty Liability	The following is a reconciliation of the Company’s warranty liability, which is included in other accrued expenses on the balance sheet: Nine Months Ended January 31, (in thousands) 2019 2018 Beginning balance at May 1 $ 4,045 $ 3,262 Acquisition — 119 Accrual 18,406 14,943 Settlements (18,315 ) (14,760 ) Ending balance at January 31 $ 4,136 $ 3,564

Pension Benefits (Tables)

Pension Benefits (Tables)	9 Months Ended
	Jan. 31, 2019
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]
Net Periodic Pension (Benefit) Cost	Net periodic pension (benefit) cost consisted of the following for the three- and six-month periods ended January 31, 2019 and 2018 : Three Months Ended Nine Months Ended January 31, January 31, (in thousands) 2019 2018 2019 2018 Interest cost $ 1,567 $ 1,431 $ 4,702 $ 4,295 Expected return on plan assets (2,127 ) (2,234 ) (6,382 ) (6,702 ) Recognized net actuarial loss 412 401 1,236 1,201 Net periodic pension benefit $ (148 ) $ (402 ) $ (444 ) $ (1,206 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Jan. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value of Assets on Recurring Basis	January 31, 2019 and April 30, 2018 at fair value on a recurring basis (in thousands): Fair Value Measurements As of January 31, 2019 Level 1 Level 2 Level 3 ASSETS: Certificates of deposit $ 2,500 $ — $ — Mutual funds 922 — — Foreign exchange forward contracts — 291 — Total assets at fair value $ 3,422 $ 291 $ — As of April 30, 2018 Level 1 Level 2 Level 3 ASSETS: Certificates of deposit $ 9,500 $ — $ — Mutual funds 1,057 — — Total assets at fair value $ 10,557 $ — $ —

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Jan. 31, 2019
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table disaggregates our consolidated revenue by major sales distribution channels for the three- and nine-months ended January 31, 2019 and 2018: Three Months Ended Nine Months Ended January 31, January 31, (in thousands) 2019 2018 2019 2018 Home center retailers $ 186,001 $ 115,332 $ 587,592 $ 285,357 Builders 147,343 131,034 482,023 414,778 Independent dealers and distributors 50,736 46,425 168,305 144,252 Net Sales $ 384,080 $ 292,791 $ 1,237,920 $ 844,387

Concentration of Risk (Tables)

Concentration of Risk (Tables)	9 Months Ended
	Jan. 31, 2019
Risks and Uncertainties [Abstract]
Summary Of Percentage Of Sales	The following table summarizes the percentage of net sales to the Company's two largest customers for the three- and nine-months ended January 31, 2019 and 2018: Three Months Ended Nine Months Ended January 31, January 31, 2019 2018 2019 2018 Customer A 29.3 24.9 29.0 20.1 Customer B 19.2 14.6 18.4 13.7

Restructuring Charges Restructu

Restructuring Charges Restructuring Charges (Tables)	9 Months Ended
	Jan. 31, 2019
Restructuring and Related Activities [Abstract]
Restructuring Charges Reserve	A reserve for restructuring charges of $0.7 million is included in accrued compensation and related expenses in the consolidated balance sheets. Restructuring reserve balance as of May 1, 2018 $ — Expense 2,061 Payments (1,363) Restructuring reserve balance as of January 31, 2019 $ 698

Basis of Presentation (Details)

Basis of Presentation (Details)	3 Months Ended	9 Months Ended
	Jan. 31, 2019USD ($)$ / $	Jan. 31, 2019USD ($)$ / $	Jan. 31, 2018USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Impairment charges related to goodwill	$ 0	$ 0	$ 0
Other intangible assets
Finite-Lived Intangible Assets [Line Items]
Impairment charges related to other intangible assets	0	0	$ 0
Foreign Exchange Forward | Not Designated as Hedging Instrument
Finite-Lived Intangible Assets [Line Items]
Derivative, notional amount	105,900,000	105,900,000
Foreign Exchange Forward | Not Designated as Hedging Instrument | Prepaid Expenses and Other Current Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Derivative asset, fair value, gross asset	$ 300,000	$ 300,000
Minimum | Foreign Exchange Forward | Not Designated as Hedging Instrument
Finite-Lived Intangible Assets [Line Items]
Derivative, forward exchange rate | $ / $	20.28	20.28
Long | Maximum | Foreign Exchange Forward | Not Designated as Hedging Instrument
Finite-Lived Intangible Assets [Line Items]
Derivative, forward exchange rate | $ / $	20.47	20.47

Acquisition of RSI Home Produ_3

Acquisition of RSI Home Products, Inc. (the "RSI Acquisition") (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 29, 2017	Jan. 31, 2019	Jan. 31, 2018	Jul. 31, 2017	Jan. 31, 2019	Jan. 31, 2018	Apr. 30, 2018	May 01, 2016
Business Acquisition [Line Items]
Acquisition, cash consideration, net of cash acquired					$ 7,182	$ 57,200
Goodwill		$ 767,612			767,612		$ 767,451
Operating income (loss)		27,150		$ 7,720	103,141	69,369
Cost of sales		307,227	$ 242,412		978,569	678,179
Amortization of debt issuance costs					2,054	0
Acquisition, transaction costs, add-dack, net of tax						$ 6,600
Revolving loan facility
Business Acquisition [Line Items]
Proceeds from loan	$ 50,000
Outstanding on the Revolving Facility		$ 35,000			$ 35,000
Credit Agreement | Revolving loan facility
Business Acquisition [Line Items]
Outstanding on the Revolving Facility								$ 300,000
RSI Home Products, Inc.
Business Acquisition [Line Items]
Acquisition, indebtedness assumed	589,000
Consideration transferred, acquisition	554,200
Acquisition, cash consideration, net of cash acquired	$ 364,400
Acquisition, shares issued (in shares)	1,457,568
Acquisition, shares issued, amount	$ 189,800
Acquisition, share price	$ 130.25
Goodwill	$ 767,612
Customer receivables	54,649
Customer receivables, allowance for doubtful accounts	2,400
RSI Home Products, Inc. | Revolving loan facility
Business Acquisition [Line Items]
Proceeds from loan	50,000
RSI Home Products, Inc. | Revolving Facility | Revolving loan facility
Business Acquisition [Line Items]
Credit facility, maximum borrowing capacity	100,000
RSI Home Products, Inc. | Revolving Facility | Letter of credit
Business Acquisition [Line Items]
Credit facility, maximum borrowing capacity	25,000
RSI Home Products, Inc. | Term loan | Initial Term Loan
Business Acquisition [Line Items]
Credit facility, maximum borrowing capacity	$ 250,000
Debt term	5 years
RSI Home Products, Inc. | Term loan | Delayed Draw Term Loan
Business Acquisition [Line Items]
Credit facility, maximum borrowing capacity	$ 250,000
Pro forma
Business Acquisition [Line Items]
Effective income tax rate, proportional federal rate						34.40%

Acquisition of RSI Home Produ_4

Acquisition of RSI Home Products, Inc. (the "RSI Acquisition") (Preliminary Allocation of Purchase Price to Assets Acquired and Liabilities Assumed) (Details) - USD ($) $ in Thousands	Jan. 31, 2019	Apr. 30, 2018	Dec. 29, 2017
Business Acquisition [Line Items]
Goodwill	$ 767,612	$ 767,451
RSI Home Products, Inc.
Business Acquisition [Line Items]
Goodwill			$ 767,612
Property, plant and equipment			86,275
Inventories			66,293
Customer receivables			54,649
Customer receivables			54,649
Income taxes receivable			18,926
Prepaid expenses and other			4,571
Leasehold interests			151
Total identifiable assets and goodwill acquired			1,282,477
Debt			602,313
Deferred income taxes			67,542
Accrued expenses			30,240
Accounts payable			25,113
Notes payable			2,988
Income taxes payable			49
Total liabilities assumed			728,245
Total accounting consideration			554,232
RSI Home Products, Inc. | Customer relationships
Business Acquisition [Line Items]
Intangibles			274,000
RSI Home Products, Inc. | Trademarks
Business Acquisition [Line Items]
Intangibles			$ 10,000

Acquisition of RSI Home Produ_5

Acquisition of RSI Home Products, Inc. (the "RSI Acquisition") (Supplemental Pro Forma Financial Information) (Details) - RSI Home Products, Inc. $ / shares in Units, $ in Thousands	9 Months Ended
	Jan. 31, 2018USD ($)$ / shares
Business Acquisition [Line Items]
Net Sales | $	$ 382,618
Net Income (loss) (1) | $	$ (1,507)
Net earnings per share - basic | $ / shares	$ (0.09)
Net earnings per share - diluted | $ / shares	$ (0.08)

Net Earnings Per Share (Schedul

Net Earnings Per Share (Schedule of Earnings Per Share, Basic and Diluted) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				9 Months Ended
	Jan. 31, 2019	Jul. 31, 2018	Jan. 31, 2018	Jul. 31, 2017	Jan. 31, 2019	Jan. 31, 2018
Earnings Per Share [Abstract]
Net income	$ 18,409	$ 24,767	$ 1,996	$ 22,281	$ 61,664	$ 44,032
Denominator for basic net earnings per common share - weighted-average shares	17,186,456		16,578,235		17,425,385	16,349,716
Effect of dilutive securities:
Stock options and restricted stock units	30,000		113,000		42,000	112,000
Denominator for diluted net earnings per common share - weighted-average shares and assumed conversions	17,216,327		16,690,760		17,466,936	16,461,509
Net earnings per share
Basic (in usd per share)	$ 1.07		$ 0.12		$ 3.54	$ 2.69
Diluted (in usd per share)	$ 1.07		$ 0.12		$ 3.53	$ 2.67

Net Earnings Per Share (Narrati

Net Earnings Per Share (Narrative) (Details) - shares	3 Months Ended	9 Months Ended
	Jan. 31, 2019	Jan. 31, 2019	Jan. 31, 2018
Earnings Per Share [Abstract]
Shares of its common stock repurchased			439,081
Shares excluded from the calculation of net earnings per share	0	0	0

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Jul. 31, 2017	Jan. 31, 2019	Jan. 31, 2018	Apr. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 668		$ 897	$ 2,290	$ 2,506
Liability for payment of the RSTUs	49,406			$ 49,406		$ 48,682
Employee Service-Based RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awarded in period (in shares)				30,335
Employee Performance-Based RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awarded in period (in shares)				45,615
Common stock issuable per RSU granted (in shares)				1
Employee Performance-Based RSTUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units non vested grants (in shares)				4,057
Employee Service-Based RSTUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units non vested grants (in shares)				2,243
RSTUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, years				3 years
Stock-based compensation expense	100	$ 1,000		$ 200	$ 600
Liability for payment of the RSTUs	$ 500			$ 500		$ 1,000
Cliff Vest [Member] | RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, years				3 years

Stock-Based Compensation (Stock

Stock-Based Compensation (Stock-Based Compensation Expense Allocated) (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Jul. 31, 2017	Jan. 31, 2019	Jan. 31, 2018
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 668		$ 897	$ 2,290	$ 2,506
Cost of Sales and Distribution [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	158	$ 256		502	777
Selling and Marketing Expenses [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	64	183		449	385
General and Administrative Expenses [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 446	$ 458		$ 1,339	$ 1,344

Customer Receivables (Component

Customer Receivables (Components Of Customer Receivables ) (Details) - USD ($) $ in Thousands	Jan. 31, 2019	Apr. 30, 2018
Accounts Receivable, Net [Abstract]
Gross customer receivables	$ 122,600	$ 142,622
Less:
Allowance for doubtful accounts	(284)	(259)
Allowance for returns and discounts	(5,118)	(6,008)
Net customer receivables	$ 117,198	$ 136,355

Inventories (Components Of Inve

Inventories (Components Of Inventories) (Details) - USD ($) $ in Thousands	Jan. 31, 2019	Apr. 30, 2018
Inventory, Net [Abstract]
Raw materials	$ 50,216	$ 41,728
Work-in-process	46,176	44,905
Finished goods	35,069	34,111
Total FIFO inventories	131,461	120,744
Reserve to adjust inventories to LIFO value	(15,345)	(15,943)
Total inventories	116,116	$ 104,801
Inventory carried under FIFO	0
Inventory carried under LIFO	$ 0

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	9 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Apr. 30, 2018
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 459,900		$ 444,634
Less accumulated amortization and depreciation	(247,923)		(226,532)
Property, Plant and Equipment, Net, Total	211,977		218,102
Amortization and depreciation expense on property, plant and equipment	9,000	$ 5,100
Accumulated amortization on capital leases	30,400		30,000
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	4,751		4,751
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	113,892		112,757
Buildings and improvements - capital leases
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	11,202		11,202
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	287,065		274,723
Machinery and equipment - capital leases
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	30,391		30,270
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 12,599		$ 10,931

Intangibles (Schedule of Intang

Intangibles (Schedule of Intangible Assets) (Details) $ in Thousands	9 Months Ended
	Jan. 31, 2019USD ($)
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ 53,083
Net Carrying Amount	$ 230,917
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Amortization Period	6 years
Cost	$ 274,000
Accumulated Amortization	49,472
Net Carrying Amount	$ 224,528
Trademarks
Finite-Lived Intangible Assets [Line Items]
Weighted Average Amortization Period	3 years
Cost	$ 10,000
Accumulated Amortization	3,611
Net Carrying Amount	$ 6,389

Intangibles (Narrative) (Detail

Intangibles (Narrative) (Details) $ in Millions	9 Months Ended
	Jan. 31, 2019USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 12.2

Product Warranty (Schedule Of W

Product Warranty (Schedule Of Warranty Liability) (Details) - USD ($) $ in Thousands	9 Months Ended
	Jan. 31, 2019	Jan. 31, 2018
Product Warranties Disclosures [Abstract]
Warranty claims period	2 months
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Beginning balance	$ 4,045	$ 3,262
Accrual	18,406	14,943
Settlements	(18,315)	(14,760)
Ending balance	$ 4,136	$ 3,564

Pension Benefits (Net Periodic

Pension Benefits (Net Periodic Pension Cost) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2019	Jan. 31, 2018
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]
Interest cost	$ 1,567	$ 1,431	$ 4,702	$ 4,295
Expected return on plan assets	(2,127)	(2,234)	(6,382)	(6,702)
Recognized net actuarial loss	412	401	1,236	1,201
Net periodic pension benefit	$ (148)	$ (402)	$ (444)	$ (1,206)

Pension Benefits (Narrative) (D

Pension Benefits (Narrative) (Details) - USD ($) $ in Millions	9 Months Ended
	Jan. 31, 2019	Jan. 31, 2018
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]
Expected company contributions to pension plan	$ 7.3
Pension contribution		$ 19.3

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value Of Assets On Recurring Basis) (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Jan. 31, 2019	Apr. 30, 2018
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	$ 3,422	$ 10,557
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	291	0
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	0	0
Money Market Funds [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	2,500	9,500
Money Market Funds [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	0	0
Money Market Funds [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	0	0
Mutual Funds [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	922	1,057
Mutual Funds [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	0	0
Mutual Funds [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	$ 0	$ 0

Loans Payable and Long-Term D_2

Loans Payable and Long-Term Debt - The Credit Facilities (Narrative) (Details) - USD ($) $ in Millions	Dec. 29, 2017	Jan. 31, 2019
Loans Payable [Member] | Initial Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	$ 250
Outstanding on the Initial Term Loan		$ 180.5
Loans Payable [Member] | Delayed Draw Term Loan [Member]
Debt Instrument [Line Items]
Outstanding on the Initial Term Loan		198.5
Revolving loan facility
Debt Instrument [Line Items]
Proceeds from loan	50
Outstanding on the Revolving Facility		$ 35
Wells Fargo [Member] | Revolving loan facility
Debt Instrument [Line Items]
Prior revolving credit facility terminated

Loans Payable and Long-Term D_3

Loans Payable and Long-Term Debt - The RSI Notes (Narrative) (Details) - USD ($)	Jan. 31, 2019	Feb. 12, 2018
Senior Notes [Member] | 4.875% Senior Notes Due 2026 [Member]
Debt Instrument [Line Items]
Debt instrument, face amount		$ 350,000,000
Stated interest rate		4.875%
Secured Debt [Member] | RSI Notes [Member]
Debt Instrument [Line Items]
Fair value of RSI Notes	$ 325,000,000
Aggregate principal amount outstanding	$ 350,000,000

Loans Payable and Long-Term D_4

Loans Payable and Long-Term Debt - Other RSI Debt (Narrative) (Details) $ in Millions	Jan. 31, 2019USD ($)
Secured Debt [Member] | RSI Notes [Member]
Debt Instrument [Line Items]
Aggregate outstanding balance	$ 350

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	Apr. 30, 2018	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2019	Jan. 31, 2018	Dec. 29, 2017
Income Tax [Line Items]
Effective income tax rate		23.70%			24.90%
Tax Cuts and Jobs Act of 2017, net tax benefit	$ 1,000	$ 700	$ 2,300
Excess tax benefit related to stock-based compensation				$ 100
RSI Home Products, Inc.
Income Tax [Line Items]
Deferred income taxes						$ 67,542

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2019	Jan. 31, 2018
Disaggregation of Revenue [Line Items]
Net sales	$ 384,080	$ 292,791	$ 1,237,920	$ 844,387
Independent dealers and distributors
Disaggregation of Revenue [Line Items]
Net sales	$ 50,736	$ 46,425

Concentration of Risk (Details)

Concentration of Risk (Details)	9 Months Ended
	Jan. 31, 2019	Jan. 31, 2018
Customer receivables | Customer A
Concentration Risk [Line Items]
Concentration risk percentage	26.40%	31.30%
Customer receivables | Customer B
Concentration Risk [Line Items]
Concentration risk percentage	24.40%	22.00%
Sales revenue, gross | Customer A
Concentration Risk [Line Items]
Concentration risk percentage	29.30%	24.90%
Sales revenue, gross | Customer B
Concentration Risk [Line Items]
Concentration risk percentage	19.20%	14.60%

Restructuring Charges (Narrativ

Restructuring Charges (Narrative) (Details) $ in Thousands	Jun. 01, 2018employee	Jan. 31, 2019USD ($)	Jan. 31, 2019USD ($)	Jan. 31, 2018USD ($)	Apr. 30, 2018USD ($)
Restructuring and Related Activities [Abstract]
Number of employees reduced in force | employee	54
Restructuring charges, net		$ 26	$ 2,061	$ 0
Restructuring reserve		$ 698	$ 698		$ 0

Restructuring Charges Restruc_2

Restructuring Charges Restructuring Charges Reserve (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Jan. 31, 2019	Jan. 31, 2019	Jan. 31, 2018
Restructuring Reserve [Roll Forward]
Restructuring reserve balance as of May 1, 2018		$ 0
Expense	$ 26	2,061	$ 0
Restructuring reserve balance as of May 1, 2018		(1,363)
Restructuring reserve balance as of January 31, 2019	$ 698	$ 698