American Woodmark (AMWD) 10-Q 26 Nov 19 2020 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Oct. 31, 2019	Nov. 25, 2019
Cover page.
Entity Central Index Key	0000794619
Current Fiscal Year End Date	--04-30
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Amendment Flag	false
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 31, 2019
Document Transition Report	false
Entity File Number	000-14798
Entity Registrant Name	American Woodmark Corp
Entity Incorporation, State or Country Code	VA
Entity Tax Identification Number	54-1138147
Entity Address, Address Line One	561 Shady Elm Road,
Entity Address, City or Town	Winchester,
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	22602
City Area Code	540
Local Phone Number	665-9100
Title of 12(b) Security	Common Stock
Trading Symbol	AMWD
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		16,921,547

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Oct. 31, 2019	Apr. 30, 2019
Current assets
Cash and cash equivalents	$ 51,435	$ 57,656
Investments - certificates of deposit	0	1,500
Customer receivables, net	120,118	125,901
Inventories	119,758	108,528
Income taxes receivable	2,704	1,009
Prepaid expenses and other	15,009	11,441
Total current assets	309,024	306,035
Property, plant and equipment, net	206,899	208,263
Operating lease right-of-use assets	89,662	0
Goodwill	767,612	767,612
Promotional displays, net	13,599	13,058
Deferred income taxes	766	773
Other assets	16,935	15,524
TOTAL ASSETS	1,598,664	1,529,931
Current liabilities
Accounts payable	62,850	61,277
Current maturities of long-term debt	2,320	2,286
Short-term lease liability - operating	19,453	0
Accrued compensation and related expenses	50,528	54,906
Accrued marketing expenses	16,002	12,979
Other accrued expenses	18,256	18,142
Total current liabilities	169,409	149,590
Long-term debt, less current maturities	617,930	689,205
Deferred income taxes	59,636	64,749
Long-term lease liability - operating	72,067	0
Other long-term liabilities	4,714	6,034
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 July 31, 2019: 16,915,670; at April 30, 2019: 16,849,026	357,304	352,424
Retained earnings	366,464	317,420
Accumulated other comprehensive loss - Defined benefit pension plans	(48,860)	(49,491)
Total shareholders' equity	674,908	620,353
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	1,598,664	1,529,931
Customer relationships
Current assets
Intangibles, net	190,278	213,111
Trademarks
Current assets
Intangibles, net	$ 3,889	$ 5,555

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Oct. 31, 2019	Apr. 30, 2019
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	16,921,547	16,849,026
Common stock, shares outstanding	16,921,547	16,849,026

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2019	Oct. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 22,163	$ 18,488	$ 49,044	$ 43,255
Other comprehensive income, net of tax:
Change in pension benefits, net of deferred taxes of $108 and $105, and $215 and $210 for the three and six months ended October 31, 2019 and 2018, respectively	316	307	631	614
Total Comprehensive Income	$ 22,479	$ 18,795	$ 49,675	$ 43,869

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2019	Oct. 31, 2018
Income Statement [Abstract]
Net sales	$ 428,016	$ 424,878	$ 855,381	$ 853,840
Cost of sales and distribution	340,966	338,116	673,812	671,342
Gross Profit	87,050	86,762	181,569	182,498
Selling and marketing expenses	20,451	22,986	41,138	45,924
General and administrative expenses	29,900	28,718	59,332	58,548
Restructuring charges, net	(188)	(406)	(207)	2,035
Operating Income	36,887	35,464	81,306	75,991
Interest expense, net	7,436	8,943	15,524	18,368
Other (income) expense, net	(527)	1,112	(534)	(325)
Income Before Income Taxes	29,978	25,409	66,316	57,948
Income tax expense	7,815	6,921	17,272	14,693
Net Income	$ 22,163	$ 18,488	$ 49,044	$ 43,255
Weighted Average Shares Outstanding
Basic (in shares)	16,919,664	17,555,584	16,892,267	17,544,849
Diluted (in shares)	16,955,835	17,588,449	16,932,236	17,589,767
Net earnings per share
Basic (in usd per share)	$ 1.31	$ 1.05	$ 2.90	$ 2.47
Diluted (in usd per share)	$ 1.31	$ 1.05	$ 2.90	$ 2.46

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2019	Oct. 31, 2018
Statement of Comprehensive Income [Abstract]
Other comprehensive income, deferred tax	$ (108)	$ (105)	$ (215)	$ (210)

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	COMMON STOCK	RETAINED EARNINGS	ACCUMULATED OTHER COMPREHENSIVE LOSS
Balance at beginning of period (shares) at Apr. 30, 2018		17,503,922
Balance at beginning of period at Apr. 30, 2018	$ 581,665	$ 361,158	$ 269,576	$ (49,069)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	24,767		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
Balance at end of period (shares) at Jul. 31, 2018		17,588,378
Balance at end of period at Jul. 31, 2018	609,907	$ 364,326	294,343	(48,762)
Balance at beginning of period (shares) at Apr. 30, 2018		17,503,922
Balance at beginning of period at Apr. 30, 2018	581,665	$ 361,158	269,576	(49,069)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 43,255
Stock repurchases (shares)	(189,633)
Balance at end of period (shares) at Oct. 31, 2018		17,404,625
Balance at end of period at Oct. 31, 2018	$ 616,339	$ 361,560	303,234	(48,455)
Balance at beginning of period (shares) at Jul. 31, 2018		17,588,378
Balance at beginning of period at Jul. 31, 2018	609,907	$ 364,326	294,343	(48,762)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	18,488		18,488
Other comprehensive loss, net of tax	307			307
Stock-based compensation	$ 836	$ 836
Exercise of stock-based compensation awards, net of amounts withheld for taxes (shares)		5,880
Stock repurchases (shares)	(189,633)	(189,633)
Stock repurchases	$ (13,199)	$ (3,602)	(9,597)
Balance at end of period (shares) at Oct. 31, 2018		17,404,625
Balance at end of period at Oct. 31, 2018	$ 616,339	$ 361,560	303,234	(48,455)
Balance at beginning of period (shares) at Apr. 30, 2019	16,849,026	16,849,026
Balance at beginning of period at Apr. 30, 2019	$ 620,353	$ 352,424	317,420	(49,491)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	26,881		26,881
Other comprehensive loss, net of tax	315			315
Stock-based compensation	897	$ 897
Exercise of stock-based compensation awards, net of amounts withheld for taxes (shares)		20,923
Exercise of stock-based compensation awards, net of amounts withheld for taxes	(1,050)	$ (1,050)
Employee benefit plan contributions (shares)		45,721
Employee benefit plan contributions	3,772	$ 3,772
Balance at end of period (shares) at Jul. 31, 2019		16,915,670
Balance at end of period at Jul. 31, 2019	$ 651,168	$ 356,043	344,301	(49,176)
Balance at beginning of period (shares) at Apr. 30, 2019	16,849,026	16,849,026
Balance at beginning of period at Apr. 30, 2019	$ 620,353	$ 352,424	317,420	(49,491)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 49,044
Stock repurchases (shares)	0
Balance at end of period (shares) at Oct. 31, 2019	16,921,547	16,921,547
Balance at end of period at Oct. 31, 2019	$ 674,908	$ 357,304	366,464	(48,860)
Balance at beginning of period (shares) at Jul. 31, 2019		16,915,670
Balance at beginning of period at Jul. 31, 2019	651,168	$ 356,043	344,301	(49,176)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	22,163		22,163
Other comprehensive loss, net of tax	316			316
Stock-based compensation	1,178	$ 1,178
Exercise of stock-based compensation awards, net of amounts withheld for taxes (shares)		5,877
Exercise of stock-based compensation awards, net of amounts withheld for taxes	$ 83	$ 83
Stock repurchases (shares)	0
Balance at end of period (shares) at Oct. 31, 2019	16,921,547	16,921,547
Balance at end of period at Oct. 31, 2019	$ 674,908	$ 357,304	$ 366,464	$ (48,860)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Oct. 31, 2019	Oct. 31, 2018
OPERATING ACTIVITIES
Net income	$ 49,044,000	$ 43,255,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	48,527,000	46,726,000
Net loss on disposal of property, plant and equipment	217,000	584,000
Amortization of operating lease right-of-use assets	12,768,000	0
Amortization of debt issuance costs	1,316,000	1,356,000
Unrealized (gain) loss on foreign exchange forward contracts	(96,000)	199,000
Gain on insurance recoveries	0	(580,000)
Stock-based compensation expense	2,075,000	1,622,000
Deferred income taxes	(5,464,000)	(4,899,000)
Pension contributions in excess of expense	(626,000)	(1,989,000)
Contributions of employer stock to employee benefit plan	3,772,000	3,623,000
Other non-cash items	951,000	(971,000)
Changes in operating assets and liabilities:
Customer receivables	5,026,000	5,434,000
Income taxes receivable	(1,695,000)	22,108,000
Inventories	(12,123,000)	(10,835,000)
Prepaid expenses and other assets	(5,634,000)	(2,130,000)
Accounts payable	673,000	(2,901,000)
Accrued compensation and related expenses	(4,379,000)	9,101,000
Operating lease liabilities	(11,783,000)	0
Marketing and other accrued expenses	3,663,000	(2,036,000)
Net cash provided by operating activities	86,232,000	107,667,000
INVESTING ACTIVITIES
Payments to acquire property, plant and equipment	(15,918,000)	(14,755,000)
Proceeds from sales of property, plant and equipment	313,000	35,000
Proceeds from insurance recoveries	0	580,000
Acquisition of business, net of cash acquired	0	(7,182,000)
Maturities of certificates of deposit	1,500,000	5,000,000
Investment in promotional displays	(4,183,000)	(3,395,000)
Net cash used by investing activities	(18,288,000)	(19,717,000)
FINANCING ACTIVITIES
Payments of long-term debt	(73,198,000)	(94,060,000)
Proceeds from issuance of common stock	83,000	500,000
Payments for Repurchase of Common Stock	0	13,199,000
Withholding of employee taxes related to stock-based compensation	(1,050,000)	(1,739,000)
Net cash used by financing activities	(74,165,000)	(108,498,000)
Net decrease in cash and cash equivalents	(6,221,000)	(20,548,000)
Cash and cash equivalents, beginning of period	57,656,000	78,410,000
Cash and cash equivalents, end of period	51,435,000
Non-cash investing and financing activities:
Property, plant and equipment included in accounts payable at period end	901	2,619
Cash paid during the period for:
Interest	15,025	19,131
Income taxes	$ 24,573	$ 9,976

Basis of Presentation

Basis of Presentation	6 Months Ended
	Oct. 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 six -month period ended October 31, 2019 are not necessarily indicative of the results that may be expected for the fiscal year ending April 30, 2020 . 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, 2019 filed with the U.S. Securities and Exchange Commission (“SEC”). 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 six -month periods ended October 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 six -month periods ended October 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 condensed 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, net in the condensed consolidated statements of income. At October 31, 2019 , the Company held forward contracts maturing from November 2019 to April 2020 to purchase 228.1 million Mexican pesos at exchange rates ranging from 19.45 to 19.91 Mexican pesos to one U.S. dollar. An asset of $0.1 million is recorded in prepaid expenses and other on the condensed consolidated balance sheets.

New Accounting Pronouncements

New Accounting Pronouncements	6 Months Ended
	Oct. 31, 2019
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update ("ASU") No. 2016-02, which requires lessees to recognize almost all leases on their balance sheet as a right-of-use ("ROU") asset and lease liability. 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 adopted the standard on May 1, 2019 using the modified retrospective transition approach and elected the package of practical expedients that allows it to forgo reassessment of lease classification for leases that have already commenced. The Company also elected the practical expedients to the new standard without restating comparative prior period financial information and to not recognize ROU assets and liabilities for operating leases with shorter than 12-month terms. On May 1, 2019, the Company recognized operating lease assets and operating lease liabilities of $80.4 million . The new standard did not have a material impact on the Company's results of operations or cash flows, or on its debt covenant calculations. ASU 2016-02 also requires entities to disclose certain qualitative and quantitative information regarding the amount, timing, and uncertainty of cash flows arising from leases. Such disclosures are included in Note P-- Leases .

Net Earnings Per Share

Net Earnings Per Share	6 Months Ended
	Oct. 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 Six Months Ended October 31, October 31, (in thousands, except per share amounts) 2019 2018 2019 2018 Numerator used in basic and diluted net earnings per common share: Net income $ 22,163 $ 18,488 $ 49,044 $ 43,255 Denominator: Denominator for basic net earnings per common share - weighted-average shares 16,920 17,556 16,892 17,545 Effect of dilutive securities: Stock options and restricted stock units 36 32 40 45 Denominator for diluted net earnings per common share - weighted-average shares and assumed conversions 16,956 17,588 16,932 17,590 Net earnings per share Basic $ 1.31 $ 1.05 $ 2.90 $ 2.47 Diluted $ 1.31 $ 1.05 $ 2.90 $ 2.46 The Company repurchased a total of 189,633 shares of its common stock during the three- and six-month periods ended October 31, 2018, respectively. There were no shares repurchased during the three- and six-month periods ended October 31, 2019. There were no potentially dilutive securities for the three- and six-month periods ended October 31, 2019, which were excluded from the calculation of net earnings per diluted share. An immaterial amount of potentially dilutive securities for the three- and six-month periods ended October 31, 2018 were excluded from the calculation of net earnings per diluted share.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Oct. 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 October 31, 2019 , the Board of Directors of the Company approved grants of 9,600 service-based restricted stock units ("RSUs") to non-employee directors. The service-based RSUs (i) vest daily through the end of the two-year vesting period as long as the recipient continuously remains a member of the Board and (ii) entitle the recipient to receive one share of the Company's common stock per unit vested. During the six-months ended October 31, 2019 , the Board of Directors of the Company also approved grants of service-based RSUs and performance-based RSUs to key employees. The employee performance-based RSUs totaled 61,379 units and the employee service-based RSUs totaled 33,091 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 until the units vest. All of the Company’s RSUs granted to employees cliff-vest three years from the grant date. For the three- and six -month periods ended October 31, 2019 and 2018 , stock-based compensation expense was allocated as follows: Three Months Ended Six Months Ended (in thousands) 2019 2018 2019 2018 Cost of sales and distribution $ 277 $ 185 $ 492 $ 344 Selling and marketing expenses 265 217 473 385 General and administrative expenses 636 434 1,110 893 Stock-based compensation expense $ 1,178 $ 836 $ 2,075 $ 1,622 During the six months ended October 31, 2019 , the Company also approved grants of 6,483 cash-settled performance-based restricted stock tracking units ("RSTUs") and 3,482 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 $0.2 million and $(0.1) million for the three-month periods ended October 31, 2019 and 2018 , respectively, and $0.2 million and $0.2 million for the six-month periods ended October 31, 2019 and 2018, respectively. A liability for payment of the RSTUs is included in the condensed consolidated balance sheets in the amount of $ 0.6 million and $ 0.7 million as of October 31, 2019 and April 30, 2019 , respectively.

Customer Receivables

Customer Receivables	6 Months Ended
	Oct. 31, 2019
Accounts Receivable, Net [Abstract]
Customer Receivables	Customer Receivables The components of customer receivables were: October 31, April 30, (in thousands) 2019 2019 Gross customer receivables $ 127,245 $ 132,145 Less: Allowance for doubtful accounts (471 ) (249 ) Allowance for returns and discounts (6,656 ) (5,995 ) Net customer receivables $ 120,118 $ 125,901

Inventories

Inventories	6 Months Ended
	Oct. 31, 2019
Inventory, Net [Abstract]
Inventories	Inventories The components of inventories were: October 31, April 30, (in thousands) 2019 2019 Raw materials $ 50,891 $ 46,054 Work-in-process 46,151 43,794 Finished goods 38,909 34,873 Total FIFO inventories 135,951 124,721 Reserve to adjust inventories to LIFO value (16,193 ) (16,193 ) Total inventories $ 119,758 $ 108,528 Of the total inventory of $119.8 million at October 31, 2019 , $69.5 million is carried under the FIFO method of accounting and $50.3 million is carried under the LIFO method. Of the total inventory of $108.5 million at April 30, 2019, $58.6 million is carried under the FIFO method and $49.9 million is carried under the LIFO method.

Property, Plant and Equipment

Property, Plant and Equipment	6 Months Ended
	Oct. 31, 2019
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment The components of property, plant and equipment were: October 31, April 30, (in thousands) 2019 2019 Land $ 4,431 $ 4,751 Buildings and improvements 114,794 114,421 Buildings and improvements - finance leases 11,202 11,202 Machinery and equipment 304,075 294,993 Machinery and equipment - finance leases 30,649 30,574 Construction in progress 12,641 7,002 477,792 462,943 Less accumulated amortization and depreciation (270,893 ) (254,680 ) Total $ 206,899 $ 208,263 Amortization and depreciation expense on property, plant and equipment amounted to $9.2 million and $9.0 million for the three months ended October 31, 2019 and 2018 , respectively, and $18.3 million and $17.8 million for the six months ended October 31, 2019 and 2018 , respectively. Accumulated amortization on finance leases included in the above table amounted to $31.4 million and $30.8 million as of October 31, 2019 and April 30, 2019, respectively.

Intangibles

Intangibles	6 Months Ended
	Oct. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Intangibles	Intangibles The components of customer relationship intangibles were: October 31, April 30, (in thousands) 2019 2019 Customer relationship intangibles $ 274,000 $ 274,000 Less accumulated amortization (83,722 ) (60,889 ) Total $ 190,278 $ 213,111 The components of trademarks were: October 31, April 30, (in thousands) 2019 2019 Trademarks $ 10,000 $ 10,000 Less accumulated amortization (6,111 ) (4,445 ) Total $ 3,889 $ 5,555 Customer relationship intangibles and trademarks are amortized over the estimated useful lives on a straight-line basis over six and three years , respectively. Amortization expense for the three months ended October 31, 2019 and 2018 was $12.3 million and $12.2 million , respectively, and $24.5 million and $24.5 million for the six months ended October 31, 2019 and 2018

Product Warranty

Product Warranty	6 Months Ended
	Oct. 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: Six Months Ended October 31, (in thousands) 2019 2018 Beginning balance at May 1 $ 4,616 $ 4,045 Accrual 12,539 13,205 Settlements (12,294 ) (12,604 ) Ending balance at October 31 $ 4,861 $ 4,646

Pension Benefits

Pension Benefits	6 Months Ended
	Oct. 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 October 31, 2019 and 2018 : Three Months Ended Six Months Ended October 31, October 31, (in thousands) 2019 2018 2019 2018 Interest cost $ 1,494 $ 1,568 $ 2,987 $ 3,135 Expected return on plan assets (2,082 ) (2,128 ) (4,163 ) (4,255 ) Recognized net actuarial loss 423 412 846 824 Net periodic pension benefit $ (165 ) $ (148 ) $ (330 ) $ (296 ) The Company expects to contribute a total of $0.5 million to its pension plans in fiscal 2020, which represents discretionary funding. As of October 31, 2019 , $0.3 million of contributions had been made. The Company made contributions of $7.3 million

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Oct. 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, certificates of deposit, accounts receivable and payable and short-term debt on the condensed 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 and liabilities that are recorded in the Company’s consolidated financial statements as of October 31, 2019 and April 30, 2019 at fair value on a recurring basis (in thousands): Fair Value Measurements As of October 31, 2019 Level 1 Level 2 Level 3 ASSETS: Mutual funds $ 790 $ — $ — Foreign exchange forward contracts — 96 — Total assets at fair value $ 790 $ 96 $ — As of April 30, 2019 Level 1 Level 2 Level 3 ASSETS: Certificates of deposit $ 1,500 $ — $ — Mutual funds 1,604 — — Total assets at fair value $ 3,104 $ — $ —

Loans Payable and Long-Term Deb

Loans Payable and Long-Term Debt	6 Months Ended
	Oct. 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 a credit agreement (as subsequently amended, the "Credit Agreement") with a syndicate of lenders and Wells Fargo Bank, National Association, 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"). The Company borrowed the entire $250 million available under each of the Initial Term Loan and the Delayed Draw Term Loan on December 29, 2017 and February 12, 2018, respectively, in connection with its acquisition of RSI Home Products, Inc. (“RSI”) and subsequent refinancing of RSI’s debt. The Company is required to make specified quarterly installments on both the Initial Term Loan and the Delayed Draw Loan. As of October 31, 2019 , $134 million was outstanding on each of the Initial Term Loan and the Delayed Draw Loan for a total of $268 million . As of April 30, 2019, $170 million was outstanding on each of the Initial Term Loan and the Delayed Draw Loan for a total of $340 million . The outstanding balance approximates fair value as the Initial Term Loan and Delayed Draw Term Loan have a floating interest rate. There were no amounts outstanding on the Revolving Facility as of October 31, 2019 or April 30, 2019. 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. As of October 31, 2019 , the applicable margin with respect to base rate loans and LIBOR loans was 0.50% and 1.50% , respectively, and the commitment fee was 0.18% . The Credit Agreement includes certain financial covenants, including 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 Company is also required to maintain a “Fixed Charge Coverage Ratio” of no less than 1.25 to 1.00. 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 also restrict the Company’s ability to make certain investments and to make certain restricted payments, including the payment of dividends and repurchase of common stock, in certain limited circumstances. The Company is, however, permitted to make unlimited investments so long as the “Total Funded Debt to EBITDA Ratio” is less than or equal to 3.00 to 1.00 after giving effect to any such investment and no default or event of default has occurred and is continuing or would result from any such investment. The Company is also permitted to make (i) unlimited restricted payments so long as the “Total Funded Debt to EBITDA Ratio” would be less than or equal to 2.75 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) 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. As of October 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. The Senior Notes are 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 October 31, 2019 , the Company and its restricted subsidiaries were in compliance with all covenants under the indenture governing the Senior Notes. At October 31, 2019 , the book value of the Senior Notes was $350 million and the fair value was $357 million , based on Level 1 inputs.

Income Taxes

Income Taxes	6 Months Ended
	Oct. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective income tax rate for the three- and six -month periods ended October 31, 2019 was 26.1% and 26.0% , respectively, compared with 27.2% and 25.4% in the comparable periods in the prior fiscal year. The decrease in the effective tax rate for the second quarter as compared to the comparable period in the prior fiscal year was primarily due to less unfavorable permanent tax items. The overall increase in the effective tax rate for the first half of fiscal 2020 as compared to the comparable period in the prior year was primarily due to a decrease in the benefit from stock-based compensation transactions. During the first half of fiscal 2020 and 2019, the Company recognized an excess tax benefit related to stock-based compensation transactions of $0.1 million and $0.7 million , respectively.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Oct. 31, 2019
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition 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 six -months ended October 31, 2019 and 2018 : Three Months Ended Six months ended October 31, October 31, (in thousands) 2019 2018 2019 2018 Home center retailers $ 189,148 $ 196,542 $ 387,899 $ 401,591 Builders 184,755 169,596 357,344 334,680 Independent dealers and distributors 54,113 58,740 110,138 117,569 Net Sales $ 428,016 $ 424,878 $ 855,381 $ 853,840

Concentration of Risk

Concentration of Risk	6 Months Ended
	Oct. 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 October 31, 2019 , the Company's two largest customers, Customers A and B, represented 25.5% and 19.7% of the Company's gross customer receivables, respectively. At October 31, 2018 , Customers A and B represented 26.9% and 22.0% of the Company’s gross customer receivables, respectively. The following table summarizes the percentage of net sales attributable to the Company's two largest customers for the three- and six -months ended October 31, 2019 and 2018 : Three Months Ended Six months ended October 31, October 31, 2019 2018 2019 2018 Customer A 28.7% 28.7% 28.7% 28.9% Customer B 15.5% 17.5% 16.6% 18.1%

Leases

Leases	6 Months Ended
	Oct. 31, 2019
Leases [Abstract]
Leases	Leases On May 1, 2019, the Company adopted ASC 842, Leases. Changes to the Company’s accounting policy as a result of adoption are discussed below. Operating Leases - ROU assets related to operating leases are presented as “Operating lease right-of-use assets” on the unaudited Condensed Consolidated Balance Sheet. Lease liabilities related to operating leases that are subject to the ASC 842 measurement requirements such as operating leases with lease terms greater than twelve months are presented in “Short-term lease liability - operating” and “Long-term lease liability - operating” on the unaudited condensed consolidated balance sheet. Operating lease ROU assets and lease liabilities are recognized at the commencement date based on the present value of the future lease payments over the lease term. The discount rate used to determine the present value of the lease payments is the rate implicit in the lease unless that rate cannot be readily determined, in which case, the Company utilizes its incremental borrowing rate in determining the present value of the future lease payments. The incremental borrowing rate is the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. Operating lease ROU assets may also include any cumulative prepaid or accrued rent when the lease payments are uneven throughout the lease term. The ROU assets and lease liabilities may also include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. The ROU asset includes any lease payments made and lease incentives received prior to the commencement date. The Company has lease arrangements with lease and non-lease components which are accounted for separately. Non-lease components of the lease payments are expensed as incurred and are not included in determining the present value. Finance Leases - ROU assets related to finance leases are presented in "Property, plant and equipment, net” on the unaudited condensed consolidated balance sheet. Lease liabilities related to finance leases are presented in “Current maturities of long-term debt” and “Long-term debt, less current maturities” on the unaudited condensed consolidated balance sheet. Finance lease ROU assets and lease liabilities are recognized at the commencement date based on the present value of the future lease payments over the lease term. The discount rate used to determine the present value of the lease payments is the rate implicit in the lease unless that rate cannot be readily determined, in which case, the Company utilizes its incremental borrowing rate in determining the present value of the future lease payments. The incremental borrowing rate is the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. The components of lease costs were as follows: Six Months Ended October 31, (in thousands) 2019 Finance lease cost: Amortization of right-of-use assets $ 1,239 Interest on lease liabilities 105 Operating lease cost 12,768 Additional information related to leases was as follows: Six Months Ended October 31, (in thousands) 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for finance leases $ 105 Operating cash flows for operating leases 11,783 Financing cash flows for financing leases 1,203 Right-of-use assets obtained in exchange for new finance lease liabilities 643 Right-of-use assets obtained in exchange for new operating lease liabilities 24,178 Weighted average remaining lease term (years) Weighted average remaining lease term - finance leases 3.36 Weighted average remaining lease term - operating leases 6.51 Weighted average discount rate Weighted average discount rate - finance leases 3.20 % Weighted average discount rate - operating leases 4.26 % The following is a reconciliation of future undiscounted cash flows to the operating and finance lease liabilities, and the related ROU assets, presented on the unaudited condensed consolidated balance sheet as of October 31, 2019 : (in thousands) Operating leases Financing leases Year ending April 30, 2020 $ 11,866 $ 1,300 2021 21,887 2,142 2022 15,758 1,205 2023 11,384 803 2024 10,227 763 Thereafter 34,047 176 Total lease payments 105,169 6,389 Less imputed interest (13,649 ) (302 ) Total lease liability $ 91,520 $ 6,087 Current maturities (19,453 ) (2,320 ) Lease liability - long-term $ 72,067 $ 3,767 Lease assets $ 89,662 $ 10,431 As we have not restated prior-year information for our adoption of ASC Topic 842, the following presents our future minimum lease payments for operating leases and capital leases under ASC Topic 840 on April 30, 2019: Fiscal Year Operating (in thousands) Capital (in thousands) 2020 $ 17,943 2,456 2021 17,649 1,953 2022 12,435 1,013 2023 10,636 705 2024 9,854 701 2025 (and thereafter) 38,871 166 $ 107,388 $ 6,994 Less amounts representing interest (2% - 6.5%) (349 ) Total obligations under capital leases $ 6,645
Leases	Leases On May 1, 2019, the Company adopted ASC 842, Leases. Changes to the Company’s accounting policy as a result of adoption are discussed below. Operating Leases - ROU assets related to operating leases are presented as “Operating lease right-of-use assets” on the unaudited Condensed Consolidated Balance Sheet. Lease liabilities related to operating leases that are subject to the ASC 842 measurement requirements such as operating leases with lease terms greater than twelve months are presented in “Short-term lease liability - operating” and “Long-term lease liability - operating” on the unaudited condensed consolidated balance sheet. Operating lease ROU assets and lease liabilities are recognized at the commencement date based on the present value of the future lease payments over the lease term. The discount rate used to determine the present value of the lease payments is the rate implicit in the lease unless that rate cannot be readily determined, in which case, the Company utilizes its incremental borrowing rate in determining the present value of the future lease payments. The incremental borrowing rate is the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. Operating lease ROU assets may also include any cumulative prepaid or accrued rent when the lease payments are uneven throughout the lease term. The ROU assets and lease liabilities may also include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. The ROU asset includes any lease payments made and lease incentives received prior to the commencement date. The Company has lease arrangements with lease and non-lease components which are accounted for separately. Non-lease components of the lease payments are expensed as incurred and are not included in determining the present value. Finance Leases - ROU assets related to finance leases are presented in "Property, plant and equipment, net” on the unaudited condensed consolidated balance sheet. Lease liabilities related to finance leases are presented in “Current maturities of long-term debt” and “Long-term debt, less current maturities” on the unaudited condensed consolidated balance sheet. Finance lease ROU assets and lease liabilities are recognized at the commencement date based on the present value of the future lease payments over the lease term. The discount rate used to determine the present value of the lease payments is the rate implicit in the lease unless that rate cannot be readily determined, in which case, the Company utilizes its incremental borrowing rate in determining the present value of the future lease payments. The incremental borrowing rate is the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. The components of lease costs were as follows: Six Months Ended October 31, (in thousands) 2019 Finance lease cost: Amortization of right-of-use assets $ 1,239 Interest on lease liabilities 105 Operating lease cost 12,768 Additional information related to leases was as follows: Six Months Ended October 31, (in thousands) 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for finance leases $ 105 Operating cash flows for operating leases 11,783 Financing cash flows for financing leases 1,203 Right-of-use assets obtained in exchange for new finance lease liabilities 643 Right-of-use assets obtained in exchange for new operating lease liabilities 24,178 Weighted average remaining lease term (years) Weighted average remaining lease term - finance leases 3.36 Weighted average remaining lease term - operating leases 6.51 Weighted average discount rate Weighted average discount rate - finance leases 3.20 % Weighted average discount rate - operating leases 4.26 % The following is a reconciliation of future undiscounted cash flows to the operating and finance lease liabilities, and the related ROU assets, presented on the unaudited condensed consolidated balance sheet as of October 31, 2019 : (in thousands) Operating leases Financing leases Year ending April 30, 2020 $ 11,866 $ 1,300 2021 21,887 2,142 2022 15,758 1,205 2023 11,384 803 2024 10,227 763 Thereafter 34,047 176 Total lease payments 105,169 6,389 Less imputed interest (13,649 ) (302 ) Total lease liability $ 91,520 $ 6,087 Current maturities (19,453 ) (2,320 ) Lease liability - long-term $ 72,067 $ 3,767 Lease assets $ 89,662 $ 10,431 As we have not restated prior-year information for our adoption of ASC Topic 842, the following presents our future minimum lease payments for operating leases and capital leases under ASC Topic 840 on April 30, 2019: Fiscal Year Operating (in thousands) Capital (in thousands) 2020 $ 17,943 2,456 2021 17,649 1,953 2022 12,435 1,013 2023 10,636 705 2024 9,854 701 2025 (and thereafter) 38,871 166 $ 107,388 $ 6,994 Less amounts representing interest (2% - 6.5%) (349 ) Total obligations under capital leases $ 6,645

Other Information

Other Information	6 Months Ended
	Oct. 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 October 31, 2019 .

New Accounting Pronouncements L

New Accounting Pronouncements Lessee Operating leases (Policies)	6 Months Ended
	Oct. 31, 2019
Accounting Policies [Abstract]
Leases	On May 1, 2019, the Company adopted ASC 842, Leases. Changes to the Company’s accounting policy as a result of adoption are discussed below. Operating Leases - ROU assets related to operating leases are presented as “Operating lease right-of-use assets” on the unaudited Condensed Consolidated Balance Sheet. Lease liabilities related to operating leases that are subject to the ASC 842 measurement requirements such as operating leases with lease terms greater than twelve months are presented in “Short-term lease liability - operating” and “Long-term lease liability - operating” on the unaudited condensed consolidated balance sheet. Operating lease ROU assets and lease liabilities are recognized at the commencement date based on the present value of the future lease payments over the lease term. The discount rate used to determine the present value of the lease payments is the rate implicit in the lease unless that rate cannot be readily determined, in which case, the Company utilizes its incremental borrowing rate in determining the present value of the future lease payments. The incremental borrowing rate is the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. Operating lease ROU assets may also include any cumulative prepaid or accrued rent when the lease payments are uneven throughout the lease term. The ROU assets and lease liabilities may also include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. The ROU asset includes any lease payments made and lease incentives received prior to the commencement date. The Company has lease arrangements with lease and non-lease components which are accounted for separately. Non-lease components of the lease payments are expensed as incurred and are not included in determining the present value.

Net Earnings Per Share (Tables)

Net Earnings Per Share (Tables)	6 Months Ended
	Oct. 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 Six Months Ended October 31, October 31, (in thousands, except per share amounts) 2019 2018 2019 2018 Numerator used in basic and diluted net earnings per common share: Net income $ 22,163 $ 18,488 $ 49,044 $ 43,255 Denominator: Denominator for basic net earnings per common share - weighted-average shares 16,920 17,556 16,892 17,545 Effect of dilutive securities: Stock options and restricted stock units 36 32 40 45 Denominator for diluted net earnings per common share - weighted-average shares and assumed conversions 16,956 17,588 16,932 17,590 Net earnings per share Basic $ 1.31 $ 1.05 $ 2.90 $ 2.47 Diluted $ 1.31 $ 1.05 $ 2.90 $ 2.46

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Oct. 31, 2019
Share-based Compensation [Abstract]
Stock-Based Compensation Expense Allocated	For the three- and six -month periods ended October 31, 2019 and 2018 , stock-based compensation expense was allocated as follows: Three Months Ended Six Months Ended (in thousands) 2019 2018 2019 2018 Cost of sales and distribution $ 277 $ 185 $ 492 $ 344 Selling and marketing expenses 265 217 473 385 General and administrative expenses 636 434 1,110 893 Stock-based compensation expense $ 1,178 $ 836 $ 2,075 $ 1,622

Customer Receivables (Tables)

Customer Receivables (Tables)	6 Months Ended
	Oct. 31, 2019
Accounts Receivable, Net [Abstract]
Components of Customer Receivables	The components of customer receivables were: October 31, April 30, (in thousands) 2019 2019 Gross customer receivables $ 127,245 $ 132,145 Less: Allowance for doubtful accounts (471 ) (249 ) Allowance for returns and discounts (6,656 ) (5,995 ) Net customer receivables $ 120,118 $ 125,901

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Oct. 31, 2019
Inventory, Net [Abstract]
Components of Inventories	The components of inventories were: October 31, April 30, (in thousands) 2019 2019 Raw materials $ 50,891 $ 46,054 Work-in-process 46,151 43,794 Finished goods 38,909 34,873 Total FIFO inventories 135,951 124,721 Reserve to adjust inventories to LIFO value (16,193 ) (16,193 ) Total inventories $ 119,758 $ 108,528

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
	Oct. 31, 2019
Property, Plant and Equipment [Abstract]
Components Of Property, Plant And Equipment	The components of property, plant and equipment were: October 31, April 30, (in thousands) 2019 2019 Land $ 4,431 $ 4,751 Buildings and improvements 114,794 114,421 Buildings and improvements - finance leases 11,202 11,202 Machinery and equipment 304,075 294,993 Machinery and equipment - finance leases 30,649 30,574 Construction in progress 12,641 7,002 477,792 462,943 Less accumulated amortization and depreciation (270,893 ) (254,680 ) Total $ 206,899 $ 208,263

Intangibles (Tables)

Intangibles (Tables)	6 Months Ended
	Oct. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Components of Intangible Assets	The components of customer relationship intangibles were: October 31, April 30, (in thousands) 2019 2019 Customer relationship intangibles $ 274,000 $ 274,000 Less accumulated amortization (83,722 ) (60,889 ) Total $ 190,278 $ 213,111 The components of trademarks were: October 31, April 30, (in thousands) 2019 2019 Trademarks $ 10,000 $ 10,000 Less accumulated amortization (6,111 ) (4,445 ) Total $ 3,889 $ 5,555

Product Warranty (Tables)

Product Warranty (Tables)	6 Months Ended
	Oct. 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: Six Months Ended October 31, (in thousands) 2019 2018 Beginning balance at May 1 $ 4,616 $ 4,045 Accrual 12,539 13,205 Settlements (12,294 ) (12,604 ) Ending balance at October 31 $ 4,861 $ 4,646

Pension Benefits (Tables)

Pension Benefits (Tables)	6 Months Ended
	Oct. 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 October 31, 2019 and 2018 : Three Months Ended Six Months Ended October 31, October 31, (in thousands) 2019 2018 2019 2018 Interest cost $ 1,494 $ 1,568 $ 2,987 $ 3,135 Expected return on plan assets (2,082 ) (2,128 ) (4,163 ) (4,255 ) Recognized net actuarial loss 423 412 846 824 Net periodic pension benefit $ (165 ) $ (148 ) $ (330 ) $ (296 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Oct. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value of Assets on Recurring Basis	The following table summarizes the fair value of assets and liabilities that are recorded in the Company’s consolidated financial statements as of October 31, 2019 and April 30, 2019 at fair value on a recurring basis (in thousands): Fair Value Measurements As of October 31, 2019 Level 1 Level 2 Level 3 ASSETS: Mutual funds $ 790 $ — $ — Foreign exchange forward contracts — 96 — Total assets at fair value $ 790 $ 96 $ — As of April 30, 2019 Level 1 Level 2 Level 3 ASSETS: Certificates of deposit $ 1,500 $ — $ — Mutual funds 1,604 — — Total assets at fair value $ 3,104 $ — $ —

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Oct. 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 six -months ended October 31, 2019 and 2018 : Three Months Ended Six months ended October 31, October 31, (in thousands) 2019 2018 2019 2018 Home center retailers $ 189,148 $ 196,542 $ 387,899 $ 401,591 Builders 184,755 169,596 357,344 334,680 Independent dealers and distributors 54,113 58,740 110,138 117,569 Net Sales $ 428,016 $ 424,878 $ 855,381 $ 853,840

Concentration of Risk (Tables)

Concentration of Risk (Tables)	6 Months Ended
	Oct. 31, 2019
Risks and Uncertainties [Abstract]
Summary Of Percentage Of Sales	The following table summarizes the percentage of net sales attributable to the Company's two largest customers for the three- and six -months ended October 31, 2019 and 2018 : Three Months Ended Six months ended October 31, October 31, 2019 2018 2019 2018 Customer A 28.7% 28.7% 28.7% 28.9% Customer B 15.5% 17.5% 16.6% 18.1%

Leases (Tables)

Leases (Tables)	6 Months Ended
	Oct. 31, 2019
Leases [Abstract]
Components of Lease Costs and Additional Information	Additional information related to leases was as follows: Six Months Ended October 31, (in thousands) 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for finance leases $ 105 Operating cash flows for operating leases 11,783 Financing cash flows for financing leases 1,203 Right-of-use assets obtained in exchange for new finance lease liabilities 643 Right-of-use assets obtained in exchange for new operating lease liabilities 24,178 Weighted average remaining lease term (years) Weighted average remaining lease term - finance leases 3.36 Weighted average remaining lease term - operating leases 6.51 Weighted average discount rate Weighted average discount rate - finance leases 3.20 % Weighted average discount rate - operating leases 4.26 % The components of lease costs were as follows: Six Months Ended October 31, (in thousands) 2019 Finance lease cost: Amortization of right-of-use assets $ 1,239 Interest on lease liabilities 105 Operating lease cost 12,768
Reconciliation of Future Undiscounted Cash Flows to Operating Lease Liabilities	The following is a reconciliation of future undiscounted cash flows to the operating and finance lease liabilities, and the related ROU assets, presented on the unaudited condensed consolidated balance sheet as of October 31, 2019 : (in thousands) Operating leases Financing leases Year ending April 30, 2020 $ 11,866 $ 1,300 2021 21,887 2,142 2022 15,758 1,205 2023 11,384 803 2024 10,227 763 Thereafter 34,047 176 Total lease payments 105,169 6,389 Less imputed interest (13,649 ) (302 ) Total lease liability $ 91,520 $ 6,087 Current maturities (19,453 ) (2,320 ) Lease liability - long-term $ 72,067 $ 3,767 Lease assets $ 89,662 $ 10,431
Reconciliation of Future Undiscounted Cash Flows to Finance Lease Liabilities	The following is a reconciliation of future undiscounted cash flows to the operating and finance lease liabilities, and the related ROU assets, presented on the unaudited condensed consolidated balance sheet as of October 31, 2019 : (in thousands) Operating leases Financing leases Year ending April 30, 2020 $ 11,866 $ 1,300 2021 21,887 2,142 2022 15,758 1,205 2023 11,384 803 2024 10,227 763 Thereafter 34,047 176 Total lease payments 105,169 6,389 Less imputed interest (13,649 ) (302 ) Total lease liability $ 91,520 $ 6,087 Current maturities (19,453 ) (2,320 ) Lease liability - long-term $ 72,067 $ 3,767 Lease assets $ 89,662 $ 10,431
Schedule of Future Minimum Lease Payments for Operating Leases Under ASC Topic 840	As we have not restated prior-year information for our adoption of ASC Topic 842, the following presents our future minimum lease payments for operating leases and capital leases under ASC Topic 840 on April 30, 2019: Fiscal Year Operating (in thousands) Capital (in thousands) 2020 $ 17,943 2,456 2021 17,649 1,953 2022 12,435 1,013 2023 10,636 705 2024 9,854 701 2025 (and thereafter) 38,871 166 $ 107,388 $ 6,994 Less amounts representing interest (2% - 6.5%) (349 ) Total obligations under capital leases $ 6,645
Schedule of Future Minimum Lease Payments for Capital Leases Under ASC Topic 840	As we have not restated prior-year information for our adoption of ASC Topic 842, the following presents our future minimum lease payments for operating leases and capital leases under ASC Topic 840 on April 30, 2019: Fiscal Year Operating (in thousands) Capital (in thousands) 2020 $ 17,943 2,456 2021 17,649 1,953 2022 12,435 1,013 2023 10,636 705 2024 9,854 701 2025 (and thereafter) 38,871 166 $ 107,388 $ 6,994 Less amounts representing interest (2% - 6.5%) (349 ) Total obligations under capital leases $ 6,645

Basis of Presentation (Details)

Basis of Presentation (Details)	3 Months Ended		6 Months Ended
	Oct. 31, 2019USD ($)$ / $	Oct. 31, 2018USD ($)	Oct. 31, 2019USD ($)$ / $	Oct. 31, 2018USD ($)
Finite-Lived Intangible Assets [Line Items]
Impairment charges related to goodwill	$ 0	$ 0	$ 0	$ 0
Other intangible assets
Finite-Lived Intangible Assets [Line Items]
Impairment charges related to other intangible assets	0	$ 0	0	$ 0
Foreign Exchange Forward | Not Designated as Hedging Instrument
Finite-Lived Intangible Assets [Line Items]
Derivative, notional amount	228,100,000		228,100,000
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	$ 100,000		$ 100,000
Minimum
Finite-Lived Intangible Assets [Line Items]
Intangible assets estimated useful lives			3 years
Minimum | Foreign Exchange Forward | Not Designated as Hedging Instrument
Finite-Lived Intangible Assets [Line Items]
Derivative, forward exchange rate | $ / $	19.45		19.45
Maximum
Finite-Lived Intangible Assets [Line Items]
Intangible assets estimated useful lives			6 years
Long | Maximum | Foreign Exchange Forward | Not Designated as Hedging Instrument
Finite-Lived Intangible Assets [Line Items]
Derivative, forward exchange rate | $ / $	19.91		19.91

New Accounting Pronouncements (

New Accounting Pronouncements (Details) - USD ($) $ in Thousands	Oct. 31, 2019	May 01, 2019	Apr. 30, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets	$ 89,662		$ 0
Operating lease liabilities	$ 91,520
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets		$ 80,400
Operating lease liabilities		$ 80,400

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				6 Months Ended
	Oct. 31, 2019	Jul. 31, 2019	Oct. 31, 2018	Jul. 31, 2018	Oct. 31, 2019	Oct. 31, 2018
Earnings Per Share [Abstract]
Net income	$ 22,163	$ 26,881	$ 18,488	$ 24,767	$ 49,044	$ 43,255
Denominator for basic net earnings per common share - weighted-average shares	16,919,664		17,555,584		16,892,267	17,544,849
Effect of dilutive securities:
Stock options and restricted stock units	36,000		32,000		40,000	45,000
Denominator for diluted net earnings per common share - weighted-average shares and assumed conversions	16,955,835		17,588,449		16,932,236	17,589,767
Net earnings per share
Basic (in usd per share)	$ 1.31		$ 1.05		$ 2.90	$ 2.47
Diluted (in usd per share)	$ 1.31		$ 1.05		$ 2.90	$ 2.46

Net Earnings Per Share (Narrati

Net Earnings Per Share (Narrative) (Details) - shares	3 Months Ended		6 Months Ended
	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2019	Oct. 31, 2018
Earnings Per Share [Abstract]
Stock repurchased during period (shares)	0	189,633	0	189,633
Stock excluded from the calculation of net earnings per share (shares)	0		0

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2019	Oct. 31, 2018	Apr. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 1,178	$ 836	$ 2,075	$ 1,622
Liability for payment of the RSTUs	$ 50,528		$ 50,528		$ 54,906
Employee Service-Based RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awarded in period (shares)	9,600		33,091
Vesting period			2 years
Employee Performance-Based RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awarded in period (shares)			61,379
Common stock issuable per RSU granted (shares)			1
Employee Performance-Based RSTUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units non vested grants (shares)			6,483
Employee Service-Based RSTUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units non vested grants (shares)			3,482
RSTUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, years			3 years
Stock-based compensation expense	$ 200	$ (100)	$ 200	$ 200
Liability for payment of the RSTUs	$ 600		$ 600		$ 700
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		6 Months Ended
	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2019	Oct. 31, 2018
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 1,178	$ 836	$ 2,075	$ 1,622
Cost of Sales and Distribution [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	277	185	492	344
Selling and Marketing Expenses [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	265	217	473	385
General and Administrative Expenses [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 636	$ 434	$ 1,110	$ 893

Customer Receivables (Component

Customer Receivables (Components Of Customer Receivables ) (Details) - USD ($) $ in Thousands	Oct. 31, 2019	Apr. 30, 2019
Accounts Receivable, Net [Abstract]
Gross customer receivables	$ 127,245	$ 132,145
Less:
Allowance for doubtful accounts	(471)	(249)
Allowance for returns and discounts	(6,656)	(5,995)
Net customer receivables	$ 120,118	$ 125,901

Inventories (Components Of Inve

Inventories (Components Of Inventories) (Details) - USD ($) $ in Thousands	Oct. 31, 2019	Apr. 30, 2019
Inventory, Net [Abstract]
Raw materials	$ 50,891	$ 46,054
Work-in-process	46,151	43,794
Finished goods	38,909	34,873
Total FIFO inventories	135,951	124,721
Reserve to adjust inventories to LIFO value	(16,193)	(16,193)
Total inventories	119,758	108,528
Inventory carried under FIFO	69,500	58,600
Inventory carried under LIFO	$ 50,300	$ 49,900

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2019	Oct. 31, 2018	Apr. 30, 2019
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 477,792		$ 477,792		$ 462,943
Less accumulated amortization and depreciation	(270,893)		(270,893)		(254,680)
Property, Plant and Equipment, Net, Total	206,899		206,899		208,263
Amortization and depreciation expense on property, plant and equipment	9,200	$ 9,000	18,300	$ 17,800
Accumulated amortization on capital leases	31,400		31,400		30,800
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	4,431		4,431		4,751
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	114,794		114,794		114,421
Buildings and improvements - finance leases
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	11,202		11,202		11,202
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	304,075		304,075		294,993
Machinery and equipment - finance leases
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	30,649		30,649		30,574
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 12,641		$ 12,641		$ 7,002

Intangibles (Schedule of Intang

Intangibles (Schedule of Intangible Assets) (Details) - USD ($) $ in Thousands	Oct. 31, 2019	Apr. 30, 2019
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Intangibles, gross	$ 274,000	$ 274,000
Less accumulated amortization	(83,722)	(60,889)
Intangibles, net	190,278	213,111
Trademarks
Finite-Lived Intangible Assets [Line Items]
Intangibles, gross	10,000	10,000
Less accumulated amortization	(6,111)	(4,445)
Intangibles, net	$ 3,889	$ 5,555

Intangibles (Narrative) (Detail

Intangibles (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2019	Oct. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 12.3	$ 12.2	$ 24.5	$ 24.5
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Intangible assets estimated useful lives			6 years
Trademarks
Finite-Lived Intangible Assets [Line Items]
Intangible assets estimated useful lives			3 years

Product Warranty (Schedule Of W

Product Warranty (Schedule Of Warranty Liability) (Details) - USD ($) $ in Thousands	6 Months Ended
	Oct. 31, 2019	Oct. 31, 2018
Product Warranties Disclosures [Abstract]
Warranty claims period	2 months
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Beginning balance	$ 4,616	$ 4,045
Accrual	12,539	13,205
Settlements	(12,294)	(12,604)
Ending balance	$ 4,861	$ 4,646

Pension Benefits (Net Periodic

Pension Benefits (Net Periodic Pension Cost) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2019	Oct. 31, 2018
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]
Interest cost	$ 1,494	$ 1,568	$ 2,987	$ 3,135
Expected return on plan assets	(2,082)	(2,128)	(4,163)	(4,255)
Recognized net actuarial loss	423	412	846	824
Net periodic pension benefit	$ (165)	$ (148)	$ (330)	$ (296)

Pension Benefits (Narrative) (D

Pension Benefits (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Oct. 31, 2019	Apr. 30, 2019
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]
Expected company contributions to pension plan in current fiscal year	$ 0.5
Pension contribution	$ 0.3	$ 7.3

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value Of Assets On Recurring Basis) (Details) - USD ($) $ in Thousands	Oct. 31, 2019	Apr. 30, 2019
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	$ 790	$ 3,104
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	96	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	0	0
Foreign exchange forward contracts | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	0
Foreign exchange forward contracts | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	96
Foreign exchange forward contracts | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	0
Certificates of deposit | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents, at fair value		1,500
Certificates of deposit | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents, at fair value		0
Certificates of deposit | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents, at fair value		0
Mutual funds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents, at fair value	790	1,604
Mutual funds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents, at fair value	0	0
Mutual funds | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents, at fair value	$ 0	$ 0

Loans Payable and Long-Term D_2

Loans Payable and Long-Term Debt (Details)	Dec. 29, 2017USD ($)	Oct. 31, 2019USD ($)	Feb. 01, 2020	Jan. 31, 2020	Apr. 30, 2019USD ($)	Feb. 12, 2018USD ($)
Credit Agreement [Member]
Debt Instrument [Line Items]
Debt covenant, maximum total funded debt to EBITDA ratio, qualified acquisition		3.75
Debt covenant, minimum fixed charge coverage ratio		1.25
Debt additional covenant, maximum total funded debt to EBITDA ratio		3
Debt additional covenant, maximum total funded debt to EBITDA ratio, unlimited restricted payment permitted		2.75
Debt additional covenant, maximum unlimited restricted payments permitted		$ 50,000,000
Loans Payable [Member] | Initial Term Loan [Member]
Debt Instrument [Line Items]
Debt term	5 years
Debt instrument, face amount	$ 250,000,000
Proceeds from loan	250,000,000
Outstanding on the Initial Term Loan		134,000,000			$ 170,000,000
Loans Payable [Member] | Delayed Draw Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	250,000,000
Outstanding on the Initial Term Loan		134,000,000			0
Loans Payable [Member] | Initial Term Loan and Delayed Draw Loan [Member]
Debt Instrument [Line Items]
Outstanding on the Initial Term Loan		268,000,000			340,000,000
Senior Notes [Member] | 4.875% Senior Notes Due 2026 [Member]
Debt Instrument [Line Items]
Debt instrument, face amount						$ 350,000,000
Debt Instrument, Interest Rate, Stated Percentage						4.875%
Secured Debt [Member] | RSI Notes [Member]
Debt Instrument [Line Items]
Long-term Debt		350,000,000
Long-term Debt, Fair Value		357,000,000
Revolving loan facility [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 100,000,000
Debt term	5 years
Outstanding on the Revolving Facility		$ 0			$ 0
Credit facility, commitment fee percentage		0.18%
Letter of Credit [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 25,000,000
Base Rate [Member] | Revolving loan facility [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.50%
London Interbank Offered Rate (LIBOR) [Member] | Revolving loan facility [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.50%
Scenario, Forecast [Member] | Subsequent Event [Member] | Credit Agreement [Member]
Debt Instrument [Line Items]
Debt covenant, maximum total funded debt to EBITDA ratio			3.25	3.50

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2019	Oct. 31, 2018
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	26.10%	27.20%	26.00%	25.40%
Tax Cuts and Jobs Act of 2017, net tax benefit	$ 0.1	$ 0.7

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2019	Oct. 31, 2018
Disaggregation of Revenue [Line Items]
Net sales	$ 428,016	$ 424,878	$ 855,381	$ 853,840
Home center retailers
Disaggregation of Revenue [Line Items]
Net sales	189,148	196,542	387,899	401,591
Builders
Disaggregation of Revenue [Line Items]
Net sales	184,755	169,596	357,344	334,680
Independent dealers and distributors
Disaggregation of Revenue [Line Items]
Net sales	$ 54,113	$ 58,740	$ 110,138	$ 117,569

Concentration of Risk (Details)

Concentration of Risk (Details)	3 Months Ended		6 Months Ended
	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2019	Oct. 31, 2018
Customer receivables | Customer A
Concentration Risk [Line Items]
Concentration risk (as a percent)			25.50%	26.90%
Customer receivables | Customer B
Concentration Risk [Line Items]
Concentration risk (as a percent)			19.70%	22.00%
Sales revenue, gross | Customer A
Concentration Risk [Line Items]
Concentration risk (as a percent)	28.70%	28.70%	28.70%	28.90%
Sales revenue, gross | Customer B
Concentration Risk [Line Items]
Concentration risk (as a percent)	15.50%	17.50%	16.60%	18.10%

Leases - Components of Lease Co

Leases - Components of Lease Costs (Details) $ in Thousands	6 Months Ended
	Oct. 31, 2019USD ($)
Finance Lease, Cost [Abstract]
Amortization of right-of-use assets	$ 1,239
Interest on lease liabilities	105
Operating lease cost	$ 12,768

Leases - Additional Information

Leases - Additional Information Related to Leases (Details)	6 Months Ended
	Oct. 31, 2019USD ($)
Cash Paid For Amounts Included In The Measurement Of Lease Liabilities [Abstract]
Operating cash flows for finance leases	$ 105,000
Operating cash flows for operating leases	11,783,000
Financing cash flows for financing leases	1,203,000
Right-of-use assets obtained in exchange for new finance lease liabilities	643
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 24,178
Weighted average remaining lease term (years)
Weighted average remaining lease term - finance leases	3 years 4 months 9 days
Weighted average remaining lease term - operating leases	6 years 6 months 3 days
Weighted average discount rate
Weighted average discount rate - finance leases (as a percent)	3.20%
Weighted average discount rate - operating leases (as a percent)	4.26%

Leases - Reconciliation of Futu

Leases - Reconciliation of Future Undiscounted Cash Flows to Operating and Finance Leases (Details) - USD ($) $ in Thousands	Oct. 31, 2019	Apr. 30, 2019
Operating leases
2020	$ 11,866
2021	21,887
2022	15,758
2023	11,384
2024	10,227
Thereafter	34,047
Total lease payments	105,169
Less imputed interest	(13,649)
Total lease liability	91,520
Current maturities	(19,453)	$ 0
Lease liability - long-term	72,067	0
Lease assets	89,662	$ 0
Financing leases
2020	1,300
2021	2,142
2022	1,205
2023	803
2024	763
Thereafter	176
Total lease payments	6,389
Less imputed interest	(302)
Finance Lease, Liability	6,087
Current maturities	(2,320)
Lease liability - long-term	3,767
Lease assets	$ 10,431

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments Under ASC Topic 840 (Details) $ in Thousands	Apr. 30, 2019USD ($)
Operating Leases Under Topic 840
2020	$ 17,943
2021	17,649
2022	12,435
2023	10,636
2024	9,854
2025 (and thereafter)	38,871
Operating leases, future minimum payments due	107,388
Capital Leases Under Topic ASC 840
2020	2,456
2021	1,953
2022	1,013
2023	705
2024	701
2025 (and thereafter)	166
Capital leases, future minimum payments due	6,994
Less amounts representing interest (2% - 6.5%)	(349)
Total obligations under capital leases	$ 6,645
Minimum
Lessee, Lease, Description [Line Items]
Capital leases, interest (as a percent)	2.00%
Maximum
Lessee, Lease, Description [Line Items]
Capital leases, interest (as a percent)	6.50%

Uncategorized Items - amwd20191

Label	Element	Value
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	$ 57,862,000