American Woodmark (AMWD) 10-Q 26 Aug 20 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Jul. 31, 2020	Aug. 25, 2020
Cover [Abstract]
Entity Central Index Key	0000794619
Current Fiscal Year End Date	--04-30
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 31, 2020
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		16,993,260

Basis of Presentation

Basis of Presentation	3 Months Ended
	Jul. 31, 2020
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 three-month period ended July 31, 2020 are not necessarily indicative of the results that may be expected for the fiscal year ending April 30, 2021. 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, 2020 filed with the U.S. Securities and Exchange Commission (“SEC”). COVID-19: The COVID-19 pandemic impacted our business operations and financial results beginning in the fourth quarter of fiscal 2020 and continues to impact us in fiscal 2021. Although the financial impact on our overall fiscal 2020 results was limited due to the timing of the outbreak, we saw more material impacts on our results for the first quarter of fiscal 2021. We continue to face numerous uncertainties in estimating the direct and indirect effects of COVID-19 on our present and future business operations, financial condition, results of operations, and liquidity. Due to several rapidly changing variables related to the COVID-19 pandemic, we cannot reasonably estimate future economic trends and the timing of when stability will return. 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-month periods ended July 31, 2020 and 2019. 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-month periods ended July 31, 2020 and 2019. 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 July 31, 2020, the Company held forward contracts maturing from August 2020 to April 2021 to purchase 226.0 million Mexican pesos at exchange rates ranging from 22.48 to 23.42 Mexican pesos to one U.S. dollar. An asset of $0.2 million is recorded in prepaid expenses and other on the condensed consolidated balance sheets.

New Accounting Pronouncements

New Accounting Pronouncements	3 Months Ended
	Jul. 31, 2020
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements In March 2020, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update ("ASU") No. 2020-04 “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” These amendments provide temporary optional guidance to ease the potential burden in accounting for reference rate reform. The ASU provides optional expedients and exceptions for applying generally accepted accounting principles to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued. It is intended to help stakeholders during the global market-wide reference rate transition period. The guidance is effective for all entities as of March 12, 2020 through December 31, 2022 and can be adopted as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020. The Company has identified loans and other financial instruments that are directly or indirectly influenced by LIBOR and does not expect the adoption of ASU 2020-04 to have a material impact on its consolidated financial statements. In December 2019, the FASB issued ASU No. 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes," which simplifies the accounting for income taxes by removing certain exceptions for recognizing investments, performing intraperiod tax allocations and calculating income taxes in interim periods. The amendments also improve consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. ASU 2019-12 is effective for the Company beginning May 1, 2021. Early adoption is permitted. The Company is currently reviewing the provisions of this new pronouncement and the impact, if any, the adoption of this guidance may have on financial position and results of operations. In June 2016, the FASB issued Accounting Standards Update ("ASU") No. 2016-13, "Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments," which modifies the methodology for recognizing loss impairments on certain types of financial instruments, including receivables. The new methodology requires an entity to estimate the credit losses expected over the life of an exposure. ASU 2016-13 is effective for the Company beginning May 1, 2020. The adoption did not have a material impact on our consolidated financial statements.

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jul. 31, 2020	Apr. 30, 2020
Current assets
Cash and cash equivalents	$ 128,055	$ 97,059
Customer receivables, net	123,301	106,344
Inventories	126,700	111,836
Prepaid expenses and other	9,913	9,933
Total current assets	387,969	325,172
Property, plant and equipment, net	199,088	203,824
Operating lease right-of-use assets	126,409	127,668
Goodwill	767,612	767,612
Promotional displays, net	14,205	13,966
Deferred Tax Assets, Net of Valuation Allowance	1,015	915
Other assets	13,722	13,983
TOTAL ASSETS	1,667,437	1,622,806
Current liabilities
Accounts payable	62,824	56,342
Current maturities of long-term debt	2,087	2,216
Short-term lease liability - operating	19,566	18,896
Accrued compensation and related expenses	48,693	49,064
Accrued marketing expenses	15,717	12,361
Other accrued expenses	29,178	16,727
Total current liabilities	178,065	155,606
Long-term debt, less current maturities	595,248	594,921
Deferred Income Tax Liabilities, Net	50,151	52,935
Long-term lease liability - operating	111,090	112,454
Other long-term liabilities	11,363	6,352
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	363,600	359,430
Retained earnings	408,766	392,281
Accumulated other comprehensive loss - Defined benefit pension plans	(50,846)	(51,173)
Total shareholders' equity	721,520	700,538
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	1,667,437	1,622,806
Customer relationships
Current assets
Intangibles, net	156,028	167,444
Trademarks
Current assets
Intangibles, net	$ 1,389	$ 2,222

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jul. 31, 2020	Apr. 30, 2020
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	16,988,340	16,926,537
Common stock, shares outstanding	16,988,340	16,926,537

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2020	Jul. 31, 2019
Income Statement [Abstract]
Net sales	$ 390,087	$ 427,365
Cost of sales and distribution	309,949	332,846
Gross Profit	80,138	94,519
Selling and marketing expenses	19,898	20,687
General and administrative expenses	29,983	29,432
Restructuring charges, net	3,460	(19)
Operating Income	26,797	44,419
Interest expense, net	6,030	8,088
Other income, net	(1,688)	(7)
Income Before Income Taxes	22,455	36,338
Income tax expense	5,970	9,457
Net Income	$ 16,485	$ 26,881
Weighted Average Shares Outstanding
Basic (in shares)	16,936,832	16,864,870
Diluted (in shares)	17,013,444	16,907,463
Net earnings per share
Basic (in usd per share)	$ 0.97	$ 1.59
Diluted (in usd per share)	$ 0.97	$ 1.59

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2020	Jul. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 16,485	$ 26,881
Other comprehensive income, net of tax:
Change in pension benefits, net of deferred taxes of $113 and $107 for the three months ended July 31, 2020 and 2019, respectively	327	315
Total Comprehensive Income	$ 16,812	$ 27,196

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2020	Jul. 31, 2019
Statement of Comprehensive Income [Abstract]
Other comprehensive income, deferred tax	$ (113)	$ (107)

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - 3 months ended Jul. 31, 2020 - USD ($) $ in Thousands	Total	COMMON STOCK	RETAINED EARNINGS	ACCUMULATED OTHER COMPREHENSIVE LOSS
Balance at beginning of period (shares) at Apr. 30, 2020	16,926,537	16,926,537
Balance at beginning of period at Apr. 30, 2020	$ 700,538	$ 359,430	$ 392,281	$ (51,173)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 16,485
Stock repurchases (shares)	0
Balance at end of period (shares) at Jul. 31, 2020	16,988,340
Balance at end of period at Jul. 31, 2020	$ 721,520

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Jul. 31, 2020	Jul. 31, 2019
OPERATING ACTIVITIES
Net income	$ 16,485,000	$ 26,881,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	26,352,000	24,113,000
Net loss on disposal of property, plant and equipment	46,000	66,000
Reduction in the carrying amount of operating lease right-of-use assets	6,706,000	5,344,000
Amortization of debt issuance costs	630,000	662,000
Unrealized gain on foreign exchange forward contracts	1,255,000	56,000
Stock-based compensation expense	961,000	897,000
Deferred income taxes	(2,855,000)	(1,726,000)
Pension contributions in excess of expense	(502,000)	(461,000)
Contributions of employer stock to employee benefit plan	3,743,000	3,772,000
Other non-cash items	750,000	451,000
Changes in operating assets and liabilities:
Customer receivables	(17,524,000)	5,426,000
Inventories	(15,539,000)	(7,137,000)
Prepaid expenses and other assets	(465,000)	(1,094,000)
Accounts payable	5,979,000	4,876,000
Accrued compensation and related expenses	(371,000)	(10,613,000)
Operating lease liabilities	(6,142,000)	(5,109,000)
Marketing and other accrued expenses	12,636,000	5,633,000
Net cash provided by operating activities	40,000,000	62,612,000
INVESTING ACTIVITIES
Payments to acquire property, plant and equipment	(5,183,000)	(4,360,000)
Proceeds from sales of property, plant and equipment	6,000	13,000
Maturities of certificates of deposit	0	1,000,000
Investment in promotional displays	(2,659,000)	(2,233,000)
Net cash used by investing activities	(7,836,000)	(5,580,000)
FINANCING ACTIVITIES
Payments of long-term debt	(634,000)	(42,589,000)
Withholding of employee taxes related to stock-based compensation	(534,000)	(1,050,000)
Net cash used by financing activities	(1,168,000)	(43,639,000)
Net increase in cash and cash equivalents	30,996,000	13,393,000
Cash and cash equivalents, beginning of period	97,059,000	57,656,000
Cash and cash equivalents, end of period	128,055,000	71,049,000
Non-cash investing and financing activities:
Property, plant and equipment included in accounts payable at period end	502	1,014
Cash paid during the period for:
Interest	1,195	3,554
Income taxes	$ 974	$ 607

Net Earnings Per Share

Net Earnings Per Share	3 Months Ended
	Jul. 31, 2020
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 July 31, (in thousands, except per share amounts) 2020 2019 Numerator used in basic and diluted net earnings per common share: Net income $ 16,485 $ 26,881 Denominator: Denominator for basic net earnings per common share - weighted-average shares 16,937 16,865 Effect of dilutive securities: Stock options and restricted stock units 77 43 Denominator for diluted net earnings per common share - weighted-average shares and assumed conversions 17,013 16,907 Net earnings per share Basic $ 0.97 $ 1.59 Diluted $ 0.97 $ 1.59 There were no potentially dilutive securities for the three-month periods ended July 31, 2020 and 2019, which were excluded from the calculation of net earnings per diluted share.

Net Earnings Per Share (Tables)

Net Earnings Per Share (Tables)	3 Months Ended
	Jul. 31, 2020
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 July 31, (in thousands, except per share amounts) 2020 2019 Numerator used in basic and diluted net earnings per common share: Net income $ 16,485 $ 26,881 Denominator: Denominator for basic net earnings per common share - weighted-average shares 16,937 16,865 Effect of dilutive securities: Stock options and restricted stock units 77 43 Denominator for diluted net earnings per common share - weighted-average shares and assumed conversions 17,013 16,907 Net earnings per share Basic $ 0.97 $ 1.59 Diluted $ 0.97 $ 1.59

Net Earnings Per Share (Schedul

Net Earnings Per Share (Schedule of Earnings Per Share, Basic and Diluted) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2020	Jul. 31, 2019
Earnings Per Share [Abstract]
Net income	$ 16,485	$ 26,881
Denominator for basic net earnings per common share - weighted-average shares	16,936,832	16,864,870
Effect of dilutive securities:
Stock options and restricted stock units	77,000	43,000
Denominator for diluted net earnings per common share - weighted-average shares and assumed conversions	17,013,444	16,907,463
Net earnings per share
Basic (in usd per share)	$ 0.97	$ 1.59
Diluted (in usd per share)	$ 0.97	$ 1.59

Net Earnings Per Share (Narrati

Net Earnings Per Share (Narrative) (Details)	3 Months Ended
	Jul. 31, 2020shares
Earnings Per Share [Abstract]
Stock repurchased during period (shares)	0
Stock excluded from the calculation of net earnings per share (shares)	0

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Jul. 31, 2020
Share-based Payment Arrangement, Noncash Expense [Abstract]
Stock-Based Compensation	Stock-Based Compensation The Company has various stock-based compensation plans. During the three-months ended July 31, 2020, the Board of Directors of the Company approved grants of service-based restricted stock units ("RSUs") and performance-based RSUs to key employees. The performance-based RSUs totaled 124,374 units and the service-based RSUs totaled 67,006 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-month periods ended July 31, 2020 and 2019, stock-based compensation expense was allocated as follows: Three Months Ended (in thousands) 2020 2019 Cost of sales and distribution $ 299 $ 215 Selling and marketing expenses (21) 208 General and administrative expenses 683 474 Stock-based compensation expense $ 961 $ 897 During the three months ended July 31, 2020, the Company also approved grants of 11,456 cash-settled performance-based restricted stock tracking units ("RSTUs") and 6,229 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 one 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 one 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 $0.3 million and $0.0 million for the three-month periods ended July 31, 2020 and 2019, respectively. A liability for payment of the RSTUs is included in the condensed consolidated balance sheets in the amount of $0.4 million and $0.4 million as of July 31, 2020 and April 30, 2020, respectively.

Customer Receivables

Customer Receivables	3 Months Ended
	Jul. 31, 2020
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Customer Receivables	Customer Receivables The components of customer receivables were: July 31, April 30, (in thousands) 2020 2020 Gross customer receivables $ 129,989 $ 112,528 Less: Allowance for doubtful accounts (408) (472) Allowance for returns and discounts (6,280) (5,712) Net customer receivables $ 123,301 $ 106,344

Inventories

Inventories	3 Months Ended
	Jul. 31, 2020
Inventory, Net [Abstract]
Inventories	Inventories The components of inventories were: July 31, April 30, (in thousands) 2020 2020 Raw materials $ 50,869 $ 51,460 Work-in-process 49,129 42,381 Finished goods 41,279 32,572 Total FIFO inventories 141,277 126,413 Reserve to adjust inventories to LIFO value (14,577) (14,577) Total inventories $ 126,700 $ 111,836 Of the total inventory of $126.7 million at July 31, 2020, $78.7 million is carried under the FIFO method of accounting and $48.0 million is carried under the LIFO method. Of the total inventory of $111.8 million at April 30, 2020, $66.0 million is carried under the FIFO method and $45.8 million is carried under the LIFO method.

Property, Plant and Equipment

Property, Plant and Equipment	3 Months Ended
	Jul. 31, 2020
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment The components of property, plant and equipment were: July 31, April 30, (in thousands) 2020 2020 Land $ 4,431 $ 4,431 Buildings and improvements 120,995 120,819 Buildings and improvements - finance leases 11,636 11,636 Machinery and equipment 313,661 312,806 Machinery and equipment - finance leases 30,972 30,911 Construction in progress 9,158 8,164 490,853 488,767 Less accumulated amortization and depreciation (291,765) (284,943) Total $ 199,088 $ 203,824 Amortization and depreciation expense on property, plant and equipment amounted to $11.6 million and $9.1 million for the three months ended July 31, 2020 and 2019, respectively. The three months ended July 31, 2020 includes accelerated depreciation expense of $1.1 million related to the closure of the Humboldt plant. Accumulated amortization on finance leases included in the above table amounted to $32.8 million and $32.3 million as of July 31, 2020 and April 30, 2020, respectively.

Intangibles

Intangibles	3 Months Ended
	Jul. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Intangibles	Intangibles The components of customer relationship intangibles were: July 31, April 30, (in thousands) 2020 2020 Customer relationship intangibles $ 274,000 $ 274,000 Less accumulated amortization (117,972) (106,556) Total $ 156,028 $ 167,444 The components of trademarks were: July 31, April 30, (in thousands) 2020 2020 Trademarks $ 10,000 $ 10,000 Less accumulated amortization (8,611) (7,778) Total $ 1,389 $ 2,222

Product Warranty

Product Warranty	3 Months Ended
	Jul. 31, 2019
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 unaudited condensed consolidated balance sheets: Three Months Ended July 31, (in thousands) 2020 2019 Beginning balance at May 1 $ 3,753 $ 4,616 Accrual 4,303 6,453 Settlements (4,138) (6,219) Ending balance at July 31 $ 3,918 $ 4,850

Pension Benefits

Pension Benefits	3 Months Ended
	Jul. 31, 2020
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]
Pension Benefits	Pension Benefits Prior to April 30, 2020, the Company had two defined benefit pension plans covering many of the Company's employees hired prior to April 30, 2012. Effective April 30, 2012, the Company froze all future benefit accruals under the Company’s defined-benefit pension plan. Effective April 30, 2020, these plans were merged into one plan. Net periodic pension benefit cost consisted of the following for the three-month periods ended July 31, 2020 and 2019: Three Months Ended July 31, (in thousands) 2020 2019 Interest cost $ 1,165 $ 1,493 Expected return on plan assets (2,107) (2,081) Recognized net actuarial loss 440 423 Net periodic pension benefit $ (502) $ (165)

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Jul. 31, 2020
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 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 July 31, 2020 and April 30, 2020 at fair value on a recurring basis (in thousands): Fair Value Measurements As of July 31, 2020 Level 1 Level 2 Level 3 ASSETS: Mutual funds $ 884 $ — $ — Foreign exchange forward contracts — 153 — Total assets at fair value $ 884 $ 153 $ — As of April 30, 2020 Level 1 Level 2 Level 3 ASSETS: Mutual funds $ 773 $ — $ — LIABILITIES: Foreign exchange forward contracts $ — $ (1,102) $ —

Loans Payable and Long-Term Deb

Loans Payable and Long-Term Debt	3 Months Ended
	Jul. 31, 2020
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 July 31, 2020 and April 30, 2020, $122 million was outstanding on each of the Initial Term Loan and the Delayed Draw Loan for a total of $244 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 July 31, 2020 or April 30, 2020. 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 July 31, 2020, the applicable margin with respect to base rate loans and LIBOR loans was 0.50% and 1.50%, respectively, and the commitment fee was 0.175%. As of December 31, 2021, the Company will transition to the Secured Overnight Financial Rate ("SOFR") as required by the Credit Facilities. The Company expects the transition to SOFR to be materially similar to LIBOR. The Credit Agreement includes certain financial covenants, including a maximum “Total Funded Debt to EBITDA Ratio” 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 July 31, 2020, the Company's Total Funded Debt to EBITDA Ratio was 2.69 and the Fixed Charge Coverage Ratio was 4.84. As of July 31, 2020, 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 July 31, 2020, the Company and its restricted subsidiaries were in compliance with all covenants under the indenture governing the Senior Notes. At July 31, 2020, the book value of the Senior Notes was $350 million and the fair value was $357.5 million, based on Level 1 inputs.

Income Taxes

Income Taxes	3 Months Ended
	Jul. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective income tax rate for the three-month periods ended July 31, 2020 and 2019 was 26.6% and 26.0%, respectively. The increase in the effective tax rate for the first quarter of fiscal 2021 as compared to the comparable period in the prior fiscal year was primarily due to a decrease in the benefit from stock-based compensation transactions. During the first quarters of fiscal 2021 and 2020, the Company recognized a tax detriment related to stock-based compensation transactions of $0.2 million and a tax benefit of $0.1 million, respectively.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Jul. 31, 2020
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-months ended July 31, 2020 and 2019: Three months ended July 31, (in thousands) 2020 2019 Home center retailers $ 173,995 $ 198,751 Builders 164,348 172,589 Independent dealers and distributors 51,744 56,025 Net Sales $ 390,087 $ 427,365

Concentration of Risk

Concentration of Risk	3 Months Ended
	Jul. 31, 2020
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 with respect to 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 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 July 31, 2020, the Company's two largest customers, Customers A and B, represented 29.0% and 25.1% of the Company's gross customer receivables, respectively. At July 31, 2019, Customers A and B represented 29.3% and 20.4% 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 three-months ended July 31, 2020 and 2019: Three months ended July 31, 2020 2019 Customer A 27.7% 28.8% Customer B 16.9% 17.7%

Leases

Leases	3 Months Ended
	Jul. 31, 2020
Leases [Abstract]
Leases	Leases 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 sheets. 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: Three months ended July 31, (in thousands) 2020 2019 Finance lease cost: Reduction in the carrying value of right-of-use assets $ 98 $ 612 Interest on lease liabilities 14 53 Operating lease cost 6,706 5,344 Additional information related to leases was as follows: Three months ended July 31, (in thousands) 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for finance leases $ 14 $ 53 Operating cash flows for operating leases 6,142 5,109 Financing cash flows for financing leases 92 589 Right-of-use assets obtained in exchange for new finance lease liabilities 109 485 Right-of-use assets obtained in exchange for new operating lease liabilities 155 21,118 Weighted average remaining lease term (years) Weighted average remaining lease term - finance leases 3.22 3.52 Weighted average remaining lease term - operating leases 7.33 6.71 Weighted average discount rate Weighted average discount rate - finance leases 3.08 % 3.23 % Weighted average discount rate - operating leases 3.54 % 4.25 % 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 July 31, 2020: (in thousands) Operating leases Financing leases Year ending April 30, 2021 $ 18,080 $ 1,759 2022 20,889 1,508 2023 19,870 1,041 2024 17,977 864 2025 15,859 267 Thereafter 55,609 71 Total lease payments 148,284 5,510 Less imputed interest (17,628) (255) Total lease liability $ 130,656 $ 5,255 Current maturities (19,566) (2,087) Lease liability - long-term $ 111,090 $ 3,168 Lease assets $ 126,409 $ 9,782
Leases	Leases 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 sheets. 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: Three months ended July 31, (in thousands) 2020 2019 Finance lease cost: Reduction in the carrying value of right-of-use assets $ 98 $ 612 Interest on lease liabilities 14 53 Operating lease cost 6,706 5,344 Additional information related to leases was as follows: Three months ended July 31, (in thousands) 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for finance leases $ 14 $ 53 Operating cash flows for operating leases 6,142 5,109 Financing cash flows for financing leases 92 589 Right-of-use assets obtained in exchange for new finance lease liabilities 109 485 Right-of-use assets obtained in exchange for new operating lease liabilities 155 21,118 Weighted average remaining lease term (years) Weighted average remaining lease term - finance leases 3.22 3.52 Weighted average remaining lease term - operating leases 7.33 6.71 Weighted average discount rate Weighted average discount rate - finance leases 3.08 % 3.23 % Weighted average discount rate - operating leases 3.54 % 4.25 % 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 July 31, 2020: (in thousands) Operating leases Financing leases Year ending April 30, 2021 $ 18,080 $ 1,759 2022 20,889 1,508 2023 19,870 1,041 2024 17,977 864 2025 15,859 267 Thereafter 55,609 71 Total lease payments 148,284 5,510 Less imputed interest (17,628) (255) Total lease liability $ 130,656 $ 5,255 Current maturities (19,566) (2,087) Lease liability - long-term $ 111,090 $ 3,168 Lease assets $ 126,409 $ 9,782

Restructuring

Restructuring	3 Months Ended
	Jul. 31, 2020
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring In the fourth quarter of fiscal 2020 and first quarter of fiscal 2021, the Company implemented nationwide reductions in force, which were substantially completed in the fourth quarter of fiscal 2020 and first quarter of fiscal 2021, respectively. During the first quarter of fiscal 2021, the Company recognized pre-tax restructuring charges of $1.7 million related to these reductions in force, which were primarily severance and separation costs. During June 2020, the Company's Board of Directors approved the closure and eventual disposal of its manufacturing plant located in Humboldt, Tennessee. The Company expects to incur total pre-tax restructuring costs of $3.0 million to $5.0 million related to the closing of the plant, net of building proceeds. The restructuring costs consist of employee severance and separation costs of approximately $0.5 million to $1.0 million, and charges for accelerated depreciation on property, equipment and inventory write-offs of approximately $2.5 million to $4.0 million. The Company expects to recognize substantially all of these costs during fiscal 2021. Operations ceased at the Humboldt plant in July 2020. During the first quarter of fiscal 2021, the Company recognized pre-tax restructuring charges of $1.8 million related to the closure of the plant. Included in the $1.8 million of restructuring charges were $0.4 million of severance and separation costs and $1.4 million for equipment, inventory and facilities-related expenses. A reserve for restructuring charges is included in accrued compensation and related expenses in the condensed consolidated balance sheets as of July 31, 2020 which relates to employee termination costs accrued but not yet paid as follows: July 31, (in thousands) 2020 Restructuring reserve balance at May 1 $ 189 Expense 1,667 Payments and adjustments (1,002) Restructuring reserve balance at July 31 $ 854

Other Information

Other Information	3 Months Ended
	Jul. 31, 2020
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 July 31, 2020.

New Accounting Pronouncements L

New Accounting Pronouncements Lessee Operating leases (Policies)	3 Months Ended
	Jul. 31, 2020
Accounting Policies [Abstract]
Leases	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 sheets.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Jul. 31, 2020
Share-based Payment Arrangement, Noncash Expense [Abstract]
Stock-Based Compensation Expense Allocated	For the three-month periods ended July 31, 2020 and 2019, stock-based compensation expense was allocated as follows: Three Months Ended (in thousands) 2020 2019 Cost of sales and distribution $ 299 $ 215 Selling and marketing expenses (21) 208 General and administrative expenses 683 474 Stock-based compensation expense $ 961 $ 897

Customer Receivables (Tables)

Customer Receivables (Tables)	3 Months Ended
	Jul. 31, 2020
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Components of Customer Receivables	The components of customer receivables were: July 31, April 30, (in thousands) 2020 2020 Gross customer receivables $ 129,989 $ 112,528 Less: Allowance for doubtful accounts (408) (472) Allowance for returns and discounts (6,280) (5,712) Net customer receivables $ 123,301 $ 106,344

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Jul. 31, 2020
Inventory, Net [Abstract]
Components of Inventories	The components of inventories were: July 31, April 30, (in thousands) 2020 2020 Raw materials $ 50,869 $ 51,460 Work-in-process 49,129 42,381 Finished goods 41,279 32,572 Total FIFO inventories 141,277 126,413 Reserve to adjust inventories to LIFO value (14,577) (14,577) Total inventories $ 126,700 $ 111,836

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	3 Months Ended
	Jul. 31, 2020
Property, Plant and Equipment [Abstract]
Components Of Property, Plant And Equipment	The components of property, plant and equipment were: July 31, April 30, (in thousands) 2020 2020 Land $ 4,431 $ 4,431 Buildings and improvements 120,995 120,819 Buildings and improvements - finance leases 11,636 11,636 Machinery and equipment 313,661 312,806 Machinery and equipment - finance leases 30,972 30,911 Construction in progress 9,158 8,164 490,853 488,767 Less accumulated amortization and depreciation (291,765) (284,943) Total $ 199,088 $ 203,824

Intangibles (Tables)

Intangibles (Tables)	3 Months Ended
	Jul. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Components of Intangible Assets	The components of customer relationship intangibles were: July 31, April 30, (in thousands) 2020 2020 Customer relationship intangibles $ 274,000 $ 274,000 Less accumulated amortization (117,972) (106,556) Total $ 156,028 $ 167,444 The components of trademarks were: July 31, April 30, (in thousands) 2020 2020 Trademarks $ 10,000 $ 10,000 Less accumulated amortization (8,611) (7,778) Total $ 1,389 $ 2,222

Product Warranty (Tables)

Product Warranty (Tables)	3 Months Ended
	Jul. 31, 2019
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 unaudited condensed consolidated balance sheets: Three Months Ended July 31, (in thousands) 2020 2019 Beginning balance at May 1 $ 3,753 $ 4,616 Accrual 4,303 6,453 Settlements (4,138) (6,219) Ending balance at July 31 $ 3,918 $ 4,850

Pension Benefits (Tables)

Pension Benefits (Tables)	3 Months Ended
	Jul. 31, 2020
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-month periods ended July 31, 2020 and 2019: Three Months Ended July 31, (in thousands) 2020 2019 Interest cost $ 1,165 $ 1,493 Expected return on plan assets (2,107) (2,081) Recognized net actuarial loss 440 423 Net periodic pension benefit $ (502) $ (165)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Jul. 31, 2020
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 July 31, 2020 and April 30, 2020 at fair value on a recurring basis (in thousands): Fair Value Measurements As of July 31, 2020 Level 1 Level 2 Level 3 ASSETS: Mutual funds $ 884 $ — $ — Foreign exchange forward contracts — 153 — Total assets at fair value $ 884 $ 153 $ — As of April 30, 2020 Level 1 Level 2 Level 3 ASSETS: Mutual funds $ 773 $ — $ — LIABILITIES: Foreign exchange forward contracts $ — $ (1,102) $ —

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Jul. 31, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table disaggregates our consolidated revenue by major sales distribution channels for the three-months ended July 31, 2020 and 2019: Three months ended July 31, (in thousands) 2020 2019 Home center retailers $ 173,995 $ 198,751 Builders 164,348 172,589 Independent dealers and distributors 51,744 56,025 Net Sales $ 390,087 $ 427,365

Concentration of Risk (Tables)

Concentration of Risk (Tables)	3 Months Ended
	Jul. 31, 2020
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 three-months ended July 31, 2020 and 2019: Three months ended July 31, 2020 2019 Customer A 27.7% 28.8% Customer B 16.9% 17.7%

Leases (Tables)

Leases (Tables)	3 Months Ended
	Jul. 31, 2020
Leases [Abstract]
Components of Lease Costs and Additional Information	The components of lease costs were as follows: Three months ended July 31, (in thousands) 2020 2019 Finance lease cost: Reduction in the carrying value of right-of-use assets $ 98 $ 612 Interest on lease liabilities 14 53 Operating lease cost 6,706 5,344 Additional information related to leases was as follows: Three months ended July 31, (in thousands) 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for finance leases $ 14 $ 53 Operating cash flows for operating leases 6,142 5,109 Financing cash flows for financing leases 92 589 Right-of-use assets obtained in exchange for new finance lease liabilities 109 485 Right-of-use assets obtained in exchange for new operating lease liabilities 155 21,118 Weighted average remaining lease term (years) Weighted average remaining lease term - finance leases 3.22 3.52 Weighted average remaining lease term - operating leases 7.33 6.71 Weighted average discount rate Weighted average discount rate - finance leases 3.08 % 3.23 % Weighted average discount rate - operating leases 3.54 % 4.25 %
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 July 31, 2020: (in thousands) Operating leases Financing leases Year ending April 30, 2021 $ 18,080 $ 1,759 2022 20,889 1,508 2023 19,870 1,041 2024 17,977 864 2025 15,859 267 Thereafter 55,609 71 Total lease payments 148,284 5,510 Less imputed interest (17,628) (255) Total lease liability $ 130,656 $ 5,255 Current maturities (19,566) (2,087) Lease liability - long-term $ 111,090 $ 3,168 Lease assets $ 126,409 $ 9,782
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 July 31, 2020: (in thousands) Operating leases Financing leases Year ending April 30, 2021 $ 18,080 $ 1,759 2022 20,889 1,508 2023 19,870 1,041 2024 17,977 864 2025 15,859 267 Thereafter 55,609 71 Total lease payments 148,284 5,510 Less imputed interest (17,628) (255) Total lease liability $ 130,656 $ 5,255 Current maturities (19,566) (2,087) Lease liability - long-term $ 111,090 $ 3,168 Lease assets $ 126,409 $ 9,782

Restructuring Charges Restructu

Restructuring Charges Restructuring Charges (Tables)	3 Months Ended
	Jul. 31, 2020
Restructuring and Related Activities [Abstract]
Restructuring Charges Reserve	A reserve for restructuring charges is included in accrued compensation and related expenses in the condensed consolidated balance sheets as of July 31, 2020 which relates to employee termination costs accrued but not yet paid as follows: July 31, (in thousands) 2020 Restructuring reserve balance at May 1 $ 189 Expense 1,667 Payments and adjustments (1,002) Restructuring reserve balance at July 31 $ 854

Basis of Presentation (Details)

Basis of Presentation (Details)	3 Months Ended
	Jul. 31, 2020USD ($)$ / $	Jul. 31, 2019USD ($)
Finite-Lived Intangible Assets [Line Items]
Impairment charges related to goodwill	$ 0	$ 0
Other intangible assets
Finite-Lived Intangible Assets [Line Items]
Impairment charges related to other intangible assets	0	$ 0
Foreign Exchange Forward | Not Designated as Hedging Instrument
Finite-Lived Intangible Assets [Line Items]
Derivative, notional amount	226,000,000
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	$ 200,000
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 | $ / $	22.48
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 | $ / $	23.42

New Accounting Pronouncements (

New Accounting Pronouncements (Details) - USD ($) $ in Thousands	Jul. 31, 2020	Apr. 30, 2020	May 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets	$ 126,409	$ 127,668
Operating lease liabilities	$ 130,656
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease liabilities			$ 80,400

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Apr. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 961	$ 897
Liability for payment of the RSTUs	$ 48,693		$ 49,064
Employee Service-Based RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awarded in period (shares)	67,006
Vesting period	2 years
Employee Performance-Based RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awarded in period (shares)	124,374
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)	11,456
Employee Service-Based RSTUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units non vested grants (shares)	6,229
RSTUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, years	3 years
Stock-based compensation expense	$ 300	$ 0
Liability for payment of the RSTUs	$ 400		$ 400
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
	Jul. 31, 2020	Jul. 31, 2019
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 961	$ 897
Cost of Sales and Distribution [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	299	215
Selling and Marketing Expenses [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	(21)	208
General and Administrative Expenses [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 683	$ 474

Customer Receivables (Component

Customer Receivables (Components Of Customer Receivables ) (Details) - USD ($) $ in Thousands	Jul. 31, 2020	Apr. 30, 2020
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Gross customer receivables	$ 129,989	$ 112,528
Less:
Allowance for doubtful accounts	(408)	(472)
Allowance for returns and discounts	(6,280)	(5,712)
Net customer receivables	$ 123,301	$ 106,344

Inventories (Components Of Inve

Inventories (Components Of Inventories) (Details) - USD ($) $ in Thousands	Jul. 31, 2020	Apr. 30, 2020
Inventory, Net [Abstract]
Raw materials	$ 50,869	$ 51,460
Work-in-process	49,129	42,381
Finished goods	41,279	32,572
Total FIFO inventories	141,277	126,413
Reserve to adjust inventories to LIFO value	(14,577)	(14,577)
Total inventories	126,700	111,836
Inventory carried under FIFO	78,700	66,000
Inventory carried under LIFO	$ 48,000	$ 45,800

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Apr. 30, 2020
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 490,853		$ 488,767
Less accumulated amortization and depreciation	(291,765)		(284,943)
Property, Plant and Equipment, Net, Total	199,088		203,824
Amortization and depreciation expense on property, plant and equipment	11,600	$ 9,100
Accumulated amortization on capital leases	32,800		32,300
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	4,431		4,431
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	120,995		120,819
Buildings and improvements - finance leases
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	11,636		11,636
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	313,661		312,806
Machinery and equipment - finance leases
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	30,972		30,911
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	9,158		$ 8,164
Manufacturing Facility
Property, Plant and Equipment [Line Items]
Amortization and depreciation expense on property, plant and equipment	$ 1,100

Intangibles (Schedule of Intang

Intangibles (Schedule of Intangible Assets) (Details) - USD ($) $ in Thousands	Jul. 31, 2020	Apr. 30, 2020
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Intangibles, gross	$ 274,000	$ 274,000
Less accumulated amortization	(117,972)	(106,556)
Intangibles, net	156,028	167,444
Trademarks
Finite-Lived Intangible Assets [Line Items]
Intangibles, gross	10,000	10,000
Less accumulated amortization	(8,611)	(7,778)
Intangibles, net	$ 1,389	$ 2,222

Intangibles (Narrative) (Detail

Intangibles (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Jul. 31, 2020	Jul. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 12.3	$ 12.3
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	3 Months Ended
	Jul. 31, 2020	Jul. 31, 2019
Product Warranties Disclosures [Abstract]
Warranty claims period	2 months
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Beginning balance	$ 3,753	$ 4,616
Accrual	4,303	6,453
Settlements	(4,138)	(6,219)
Ending balance	$ 3,918	$ 4,850

Pension Benefits (Net Periodic

Pension Benefits (Net Periodic Pension Cost) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2020	Jul. 31, 2019
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]
Interest cost	$ 1,165	$ 1,493
Expected return on plan assets	(2,107)	(2,081)
Recognized net actuarial loss	440	423
Net periodic pension benefit	$ (502)	$ (165)

Pension Benefits (Narrative) (D

Pension Benefits (Narrative) (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 31, 2020plan	Apr. 30, 2020plan	Oct. 31, 2019USD ($)
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]
Number of defined benefit pension plans | plan	1	2
Pension contribution | $			$ 0.5

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value Of Assets On Recurring Basis) (Details) - USD ($) $ in Thousands	Jul. 31, 2020	Apr. 30, 2020
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	$ 884
Foreign exchange forward contracts		$ 0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	153
Foreign exchange forward contracts		(1,102)
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	0
Foreign exchange forward contracts		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	153
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
Mutual funds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents, at fair value	884	773
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 ($)	Jul. 31, 2020USD ($)	Apr. 30, 2020USD ($)	Jan. 31, 2020	Feb. 12, 2018USD ($)
Debt Instrument, Covenant One
Debt Instrument [Line Items]
Debt additional covenant, maximum total funded debt to EBITDA ratio, unlimited restricted payment permitted		3
Credit Agreement [Member]
Debt Instrument [Line Items]
Debt covenant, maximum total funded debt to EBITDA ratio				3.25
Debt covenant, maximum total funded debt to EBITDA ratio, qualified acquisition		3.75
Debt covenant, minimum fixed charge coverage ratio		1.25
Total funded debt to EBITDA ratio		2.69
Fixed charge coverage ratio		4.84
Credit Agreement [Member] | Debt Instrument, Covenant Two
Debt Instrument [Line Items]
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		122,000,000
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		125,000,000	$ 170,000,000
Loans Payable [Member] | Initial Term Loan and Delayed Draw Loan [Member]
Debt Instrument [Line Items]
Outstanding on the Initial Term Loan		244,000,000
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		357,500,000
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		0.175%
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%

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Jul. 31, 2020	Jul. 31, 2019
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	26.60%	26.00%
Income tax expense (benefit) related to stock-based compensation transactions	$ 0.2	$ (0.1)

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2020	Jul. 31, 2019
Disaggregation of Revenue [Line Items]
Net sales	$ 390,087	$ 427,365
Home center retailers
Disaggregation of Revenue [Line Items]
Net sales	173,995	198,751
Builders
Disaggregation of Revenue [Line Items]
Net sales	164,348	172,589
Independent dealers and distributors
Disaggregation of Revenue [Line Items]
Net sales	$ 51,744	$ 56,025

Concentration of Risk (Details)

Concentration of Risk (Details)	3 Months Ended
	Jul. 31, 2020	Jul. 31, 2019
Customer receivables | Customer A
Concentration Risk [Line Items]
Concentration risk (as a percent)	29.00%	29.30%
Customer receivables | Customer B
Concentration Risk [Line Items]
Concentration risk (as a percent)	25.10%	20.40%
Sales revenue, gross | Customer A
Concentration Risk [Line Items]
Concentration risk (as a percent)	27.70%	28.80%
Sales revenue, gross | Customer B
Concentration Risk [Line Items]
Concentration risk (as a percent)	16.90%	17.70%

Leases - Components of Lease Co

Leases - Components of Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2020	Jul. 31, 2019
Finance lease cost:
Reduction in the carrying value of right-of-use assets	$ 98	$ 612
Interest on lease liabilities	14	53
Operating lease cost	$ 6,706	$ 5,344

Leases - Additional Information

Leases - Additional Information Related to Leases (Details) - USD ($)	3 Months Ended
	Jul. 31, 2020	Jul. 31, 2019
Cash Paid For Amounts Included In The Measurement Of Lease Liabilities [Abstract]
Operating cash flows for finance leases	$ 14,000	$ 53,000
Operating cash flows for operating leases	6,142,000	5,109,000
Financing cash flows for financing leases	92,000	589,000
Right-of-use assets obtained in exchange for new finance lease liabilities	109	485
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 155	$ 21,118
Weighted average remaining lease term (years)
Weighted average remaining lease term - finance leases	3 years 2 months 19 days	3 years 6 months 7 days
Weighted average remaining lease term - operating leases	7 years 3 months 29 days	6 years 8 months 15 days
Weighted average discount rate
Weighted average discount rate - finance leases (as a percent)	3.08%	3.23%
Weighted average discount rate - operating leases (as a percent)	3.54%	4.25%

Leases - Reconciliation of Futu

Leases - Reconciliation of Future Undiscounted Cash Flows to Operating and Finance Leases (Details) - USD ($) $ in Thousands	Jul. 31, 2020	Apr. 30, 2020
Operating leases
2020	$ 18,080
2021	20,889
2022	19,870
2023	17,977
2024	15,859
Thereafter	55,609
Total lease payments	148,284
Less imputed interest	(17,628)
Total lease liability	130,656
Current maturities	(19,566)	$ (18,896)
Lease liability - long-term	111,090	112,454
Lease assets	126,409	$ 127,668
Financing leases
2020	1,759
2021	1,508
2022	1,041
2023	864
2024	267
Thereafter	71
Total lease payments	5,510
Less imputed interest	(255)
Finance Lease, Liability	5,255
Current maturities	(2,087)
Lease liability - long-term	3,168
Lease assets	$ 9,782

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments Under ASC Topic 840 (Details)	Apr. 30, 2020
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%

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jun. 30, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring charges, net	$ 3,460	$ (19)
Manufacturing Plant Closure
Restructuring Cost and Reserve [Line Items]
Restructuring charges, net	1,800
Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring charges, net	1,667
Employee Severance | Nationwide Reductions In Force
Restructuring Cost and Reserve [Line Items]
Restructuring charges, net	1,700
Employee Severance | Manufacturing Plant Closure
Restructuring Cost and Reserve [Line Items]
Restructuring charges, net	400
Other Restructuring | Manufacturing Plant Closure
Restructuring Cost and Reserve [Line Items]
Restructuring charges, net	$ 1,400
Minimum | Manufacturing Plant Closure
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs			$ 3,000
Minimum | Employee Severance | Manufacturing Plant Closure
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs			500
Minimum | Other Restructuring | Manufacturing Plant Closure
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs			2,500
Maximum | Manufacturing Plant Closure
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs			5,000
Maximum | Employee Severance | Manufacturing Plant Closure
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs			1,000
Maximum | Other Restructuring | Manufacturing Plant Closure
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs			$ 4,000

Restructuring - Restructuring C

Restructuring - Restructuring Charges Reserve (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2020	Jul. 31, 2019
Restructuring Reserve [Roll Forward]
Expense	$ 3,460	$ (19)
Employee Severance
Restructuring Reserve [Roll Forward]
Restructuring reserve balance at May 1	189
Expense	1,667
Payments and adjustments	(1,002)
Restructuring reserve balance at July 31	$ 854

Uncategorized Items - amwd-2020

Label	Element	Value
Stock Issued During Period, Value, Stock Options Exercised	us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised	$ (1,050,000)
Stock Issued During Period, Value, Stock Options Exercised	us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised	(534,000)
Other Comprehensive Income (Loss), Net of Tax	us-gaap_OtherComprehensiveIncomeLossNetOfTax	327,000
Other Comprehensive Income (Loss), Net of Tax	us-gaap_OtherComprehensiveIncomeLossNetOfTax	315,000
Stock Issued During Period, Value, Employee Benefit Plan	us-gaap_StockIssuedDuringPeriodValueEmployeeBenefitPlan	3,743,000
Stock Issued During Period, Value, Employee Benefit Plan	us-gaap_StockIssuedDuringPeriodValueEmployeeBenefitPlan	3,772,000
APIC, Share-based Payment Arrangement, Option, Increase for Cost Recognition	us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition	961,000
APIC, Share-based Payment Arrangement, Option, Increase for Cost Recognition	us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition	897,000
Retained Earnings [Member]
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	408,766,000
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	317,420,000
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	344,301,000
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	26,881,000
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	16,485,000
Common Stock [Member]
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	356,043,000
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	352,424,000
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	$ 363,600,000
Common Stock, Shares, Outstanding	us-gaap_CommonStockSharesOutstanding	16,849,026
Common Stock, Shares, Outstanding	us-gaap_CommonStockSharesOutstanding	16,915,670
Common Stock, Shares, Outstanding	us-gaap_CommonStockSharesOutstanding	16,988,340
Stock Issued During Period, Value, Stock Options Exercised	us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised	$ (534,000)
Stock Issued During Period, Value, Stock Options Exercised	us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised	(1,050,000)
Stock Issued During Period, Value, Employee Benefit Plan	us-gaap_StockIssuedDuringPeriodValueEmployeeBenefitPlan	3,772,000
Stock Issued During Period, Value, Employee Benefit Plan	us-gaap_StockIssuedDuringPeriodValueEmployeeBenefitPlan	3,743,000
APIC, Share-based Payment Arrangement, Option, Increase for Cost Recognition	us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition	897,000
APIC, Share-based Payment Arrangement, Option, Increase for Cost Recognition	us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition	$ 961,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised	16,212
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised	20,923
Stock Issued During Period, Shares, Employee Benefit Plan	us-gaap_StockIssuedDuringPeriodSharesEmployeeBenefitPlan	45,591
Stock Issued During Period, Shares, Employee Benefit Plan	us-gaap_StockIssuedDuringPeriodSharesEmployeeBenefitPlan	45,721
AOCI Attributable to Parent [Member]
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	$ (49,491,000)
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	(49,176,000)
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	(50,846,000)
Other Comprehensive Income (Loss), Net of Tax	us-gaap_OtherComprehensiveIncomeLossNetOfTax	315,000
Other Comprehensive Income (Loss), Net of Tax	us-gaap_OtherComprehensiveIncomeLossNetOfTax	$ 327,000