American Woodmark (AMWD) 10-Q 24 Nov 20 2021 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Oct. 31, 2020	Nov. 23, 2020
Cover [Abstract]
Entity Central Index Key	0000794619
Current Fiscal Year End Date	--04-30
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Amendment Flag	false
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 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	6 Months Ended
	Oct. 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 six-month period ended October 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- and six-month periods ended October 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- and six-month periods ended October 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 October 31, 2020, the Company held forward contracts maturing from November 2020 to April 2021 to purchase 300.6 million Mexican pesos at exchange rates ranging from 21.89 to 23.42 Mexican pesos to one U.S. dollar. An asset of $0.7 million is recorded in prepaid expenses and other on the condensed consolidated balance sheet.

New Accounting Pronouncements

New Accounting Pronouncements	6 Months Ended
	Oct. 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. ASU 2020-04 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 was 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	Oct. 31, 2020	Apr. 30, 2020
Current assets
Cash and cash equivalents	$ 112,560	$ 97,059
Customer receivables, net	149,165	106,344
Inventories	127,715	111,836
Prepaid expenses and other	14,913	9,933
Total current assets	404,353	325,172
Property, plant and equipment, net	198,895	203,824
Operating lease right-of-use assets	128,125	127,668
Goodwill	767,612	767,612
Promotional displays, net	13,965	13,966
Deferred Tax Assets, Net of Valuation Allowance	1,044	915
Other assets	13,717	13,983
TOTAL ASSETS	1,672,878	1,622,806
Current liabilities
Accounts payable	78,401	56,342
Current maturities of long-term debt	2,096	2,216
Short-term lease liability - operating	19,519	18,896
Accrued compensation and related expenses	56,270	49,064
Accrued marketing expenses	16,958	12,361
Other accrued expenses	21,904	16,727
Total current liabilities	195,148	155,606
Long-term debt, less current maturities	555,911	594,921
Deferred Income Tax Liabilities, Net	47,701	52,935
Long-term lease liability - operating	113,511	112,454
Other long-term liabilities	15,413	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	364,689	359,430
Retained earnings	431,022	392,281
Accumulated other comprehensive loss - Defined benefit pension plans	(50,517)	(51,173)
Total shareholders' equity	745,194	700,538
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	1,672,878	1,622,806
Customer relationships
Current assets
Intangibles, net	144,611	167,444
Trademarks
Current assets
Intangibles, net	$ 556	$ 2,222

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Oct. 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	16,993,260	16,926,537
Common stock, shares outstanding	16,993,260	16,926,537

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2020	Oct. 31, 2019
Income Statement [Abstract]
Net sales	$ 448,583	$ 428,016	$ 838,670	$ 855,381
Cost of sales and distribution	359,072	340,966	669,021	673,812
Gross Profit	89,511	87,050	169,649	181,569
Selling and marketing expenses	21,608	20,451	41,506	41,138
General and administrative expenses	30,229	29,900	60,212	59,332
Restructuring charges, net	2,791	(188)	6,251	(207)
Operating Income	34,883	36,887	61,680	81,306
Interest expense, net	5,981	7,436	12,011	15,524
Other income, net	(981)	(527)	(2,669)	(534)
Income Before Income Taxes	29,883	29,978	52,338	66,316
Income tax expense	7,627	7,815	13,597	17,272
Net Income	$ 22,256	$ 22,163	$ 38,741	$ 49,044
Weighted Average Shares Outstanding
Basic (in shares)	16,992,297	16,919,664	16,964,565	16,892,267
Diluted (in shares)	17,047,296	16,955,835	17,036,652	16,932,236
Net earnings per share
Basic (in usd per share)	$ 1.31	$ 1.31	$ 2.28	$ 2.90
Diluted (in usd per share)	$ 1.31	$ 1.31	$ 2.27	$ 2.90

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2020	Oct. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 22,256	$ 22,163	$ 38,741	$ 49,044
Other comprehensive income, net of tax:
Change in pension benefits, net of deferred taxes of $111 and $108, and $224 and $215 for the three and six months ended October 31, 2020 and 2019, respectively	329	316	656	631
Total Comprehensive Income	$ 22,585	$ 22,479	$ 39,397	$ 49,675

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2020	Oct. 31, 2019
Statement of Comprehensive Income [Abstract]
Other comprehensive income, deferred tax	$ (111)	$ (108)	$ (224)	$ (215)

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, 2019		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
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
Balance at end of period (shares) at Oct. 31, 2019		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
Stock repurchases	0
Balance at end of period (shares) at Oct. 31, 2019		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 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		16,485
Other comprehensive loss, net of tax	327			327
Stock-based compensation	961	$ 961
Exercise of stock-based compensation awards, net of amounts withheld for taxes (shares)		16,212
Exercise of stock-based compensation awards, net of amounts withheld for taxes	(534)	$ (534)
Employee benefit plan contributions (shares)		45,591
Employee benefit plan contributions	3,743	$ 3,743
Balance at end of period (shares) at Jul. 31, 2020		16,988,340
Balance at end of period at Jul. 31, 2020	$ 721,520	$ 363,600	408,766	(50,846)
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	$ 38,741
Stock repurchases (shares)	0
Balance at end of period (shares) at Oct. 31, 2020	16,993,260	16,993,260
Balance at end of period at Oct. 31, 2020	$ 745,194	$ 364,689	431,022	(50,517)
Balance at beginning of period (shares) at Jul. 31, 2020		16,988,340
Balance at beginning of period at Jul. 31, 2020	721,520	$ 363,600	408,766	(50,846)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	22,256		22,256
Other comprehensive loss, net of tax	329			329
Stock-based compensation	1,266	$ 1,266
Exercise of stock-based compensation awards, net of amounts withheld for taxes (shares)		4,920
Exercise of stock-based compensation awards, net of amounts withheld for taxes	$ (177)	$ (177)
Balance at end of period (shares) at Oct. 31, 2020	16,993,260	16,993,260
Balance at end of period at Oct. 31, 2020	$ 745,194	$ 364,689	$ 431,022	$ (50,517)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
OPERATING ACTIVITIES
Net income	$ 38,741,000	$ 49,044,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	51,779,000	48,527,000
Net loss on disposal of property, plant and equipment	332,000	217,000
Reduction in the carrying amount of operating lease right-of-use assets	13,366,000	12,768,000
Amortization of debt issuance costs	1,263,000	1,316,000
Unrealized gain on foreign exchange forward contracts	(1,821,000)	(96,000)
Stock-based compensation expense	2,227,000	2,075,000
Deferred income taxes	(6,927,000)	(5,464,000)
Pension contributions in excess of expense	(1,004,000)	(626,000)
Contributions of employer stock to employee benefit plan	3,743,000	3,772,000
Other non-cash items	2,299,000	951,000
Changes in operating assets and liabilities:
Customer receivables	(45,071,000)	5,026,000
Income taxes receivable	2,003,000	(1,695,000)
Inventories	(16,805,000)	(12,123,000)
Prepaid expenses and other assets	(4,825,000)	(5,634,000)
Accounts payable	21,575,000	673,000
Accrued compensation and related expenses	7,206,000	(4,379,000)
Operating lease liabilities	(12,144,000)	(11,783,000)
Marketing and other accrued expenses	20,631,000	3,663,000
Net cash provided by operating activities	76,568,000	86,232,000
INVESTING ACTIVITIES
Payments to acquire property, plant and equipment	(14,142,000)	(15,918,000)
Proceeds from sales of property, plant and equipment	194,000	313,000
Maturities of certificates of deposit	0	1,500,000
Investment in promotional displays	(4,982,000)	(4,183,000)
Net cash used by investing activities	(18,930,000)	(18,288,000)
FINANCING ACTIVITIES
Payments of long-term debt	(41,255,000)	(73,198,000)
Proceeds from issuance of common stock	0	83,000
Withholding of employee taxes related to stock-based compensation	(710,000)	(1,050,000)
Excess Tax Benefit from Share-based Compensation, Financing Activities	(172,000)	0
Net cash used by financing activities	(42,137,000)	(74,165,000)
Net increase (decrease) in cash and cash equivalents	15,501,000	(6,221,000)
Cash and cash equivalents, beginning of period	97,059,000	57,656,000
Cash and cash equivalents, end of period	112,560,000	51,435,000
Non-cash investing and financing activities:
Property, plant and equipment included in accounts payable at period end	484	901
Cash paid during the period for:
Interest	10,848	15,025
Income taxes	$ 18,119	$ 24,573

Net Earnings Per Share

Net Earnings Per Share	6 Months Ended
	Oct. 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 Six Months Ended October 31, October 31, (in thousands, except per share amounts) 2020 2019 2020 2019 Numerator used in basic and diluted net earnings per common share: Net income $ 22,256 $ 22,163 $ 38,741 $ 49,044 Denominator: Denominator for basic net earnings per common share - weighted-average shares 16,992 16,920 16,965 16,892 Effect of dilutive securities: Stock options and restricted stock units 55 36 72 40 Denominator for diluted net earnings per common share - weighted-average shares and assumed conversions 17,047 16,956 17,037 16,932 Net earnings per share Basic $ 1.31 $ 1.31 $ 2.28 $ 2.90 Diluted $ 1.31 $ 1.31 $ 2.27 $ 2.90 There were no potentially dilutive securities for the three- and six-month periods ended October 31, 2020 and 2019, which were excluded from the calculation of net earnings per diluted share.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Oct. 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 October 31, 2020, the Board of Directors of the Company approved grants of 8,200 service-based restricted stock units ("RSUs") to non-employee directors. These 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, 2020, 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 124,374 units and the employee 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 and six-month periods ended October 31, 2020 and 2019, stock-based compensation expense was allocated as follows: Three Months Ended Six Months Ended (in thousands) 2020 2019 2020 2019 Cost of sales and distribution $ 409 $ 277 $ 708 $ 492 Selling and marketing expenses 354 265 333 473 General and administrative expenses 503 636 1,186 1,110 Stock-based compensation expense $ 1,266 $ 1,178 $ 2,227 $ 2,075 During the six months ended October 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 $0.2 million and $0.2 million for the three-month periods ended October 31, 2020 and 2019, respectively, and $0.4 million and $0.2 million for the six-month periods ended October 31, 2020 and 2019, respectively. A liability for payment of the RSTUs is included in the condensed consolidated balance sheets in the amount of $0.6 million and $0.4 million as of October 31, 2020 and April 30, 2020, respectively.

Customer Receivables

Customer Receivables	6 Months Ended
	Oct. 31, 2020
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Customer Receivables	Customer Receivables The components of customer receivables were: October 31, April 30, (in thousands) 2020 2020 Gross customer receivables $ 158,156 $ 112,528 Less: Allowance for doubtful accounts (448) (472) Allowance for returns and discounts (8,543) (5,712) Net customer receivables $ 149,165 $ 106,344

Inventories

Inventories	6 Months Ended
	Oct. 31, 2020
Inventory, Net [Abstract]
Inventories	Inventories The components of inventories were: October 31, April 30, (in thousands) 2020 2020 Raw materials $ 51,500 $ 51,460 Work-in-process 50,007 42,381 Finished goods 41,247 32,572 Total FIFO inventories 142,754 126,413 Reserve to adjust inventories to LIFO value (15,039) (14,577) Total inventories $ 127,715 $ 111,836 Of the total inventory of $127.7 million at October 31, 2020, $78.0 million is carried under the FIFO method of accounting and $49.7 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	6 Months Ended
	Oct. 31, 2020
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) 2020 2020 Land $ 4,431 $ 4,431 Buildings and improvements 121,743 120,819 Buildings and improvements - finance leases 11,636 11,636 Machinery and equipment 305,692 312,806 Machinery and equipment - finance leases 30,870 30,911 Construction in progress 13,313 8,164 487,685 488,767 Less accumulated amortization and depreciation (288,790) (284,943) Total $ 198,895 $ 203,824 Amortization and depreciation expense on property, plant and equipment amounted to $10.6 million and $9.2 million for the three months ended October 31, 2020 and 2019, respectively, and $22.2 million and $18.3 million for the six months ended October 31, 2020 and 2019, respectively. The three and six months ended October 31, 2020 includes accelerated depreciation expense of $0.2 million and $1.3 million, respectively, related to the closure of the plant located in Humboldt, Tennessee. Accumulated amortization on finance leases included in the above table amounted to $32.5 million and $32.3 million as of October 31, 2020 and April 30, 2020, respectively.

Intangibles

Intangibles	6 Months Ended
	Oct. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Intangibles	IntangiblesThe components of customer relationship intangibles were: October 31, April 30, (in thousands) 2020 2020 Customer relationship intangibles $ 274,000 $ 274,000 Less accumulated amortization (129,389) (106,556) Total $ 144,611 $ 167,444 The components of trademarks were: October 31, April 30, (in thousands) 2020 2020 Trademarks $ 10,000 $ 10,000 Less accumulated amortization (9,444) (7,778) Total $ 556 $ 2,222

Product Warranty

Product Warranty	6 Months Ended
	Oct. 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: Six Months Ended October 31, (in thousands) 2020 2019 Beginning balance at May 1 $ 3,753 $ 4,616 Accrual 9,560 12,539 Settlements (8,948) (12,294) Ending balance at October 31 $ 4,365 $ 4,861

Pension Benefits

Pension Benefits	6 Months Ended
	Oct. 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. On November 16, 2020 the Company filed an application with the Internal Revenue Service to terminate the American Woodmark Corporation Employee Pension Plan (the “Plan”) with a proposed effective date of December 31, 2020 (the “Plan Termination Date”), in a standard termination and the Company expects to incur approximately $1.6 million to terminate the Plan. In connection with the Plan termination and in addition to the Plan termination costs, the Company may be required to make an additional funding contribution to the Plan in order to ensure the Plan is fully funded on a termination basis as of the Benefit Distribution Date, with the amount of such contribution still to be determined. The Benefit Distribution Date will be determined once the Company receives approval from certain regulatory agencies. The additional funding contribution is expected to be funded from cash on hand and the amount will vary depending on the lump sum distribution take rate and the interest rate on the Benefit Distribution Date. Net periodic pension benefit cost consisted of the following for the three- and six-month periods ended October 31, 2020 and 2019: Three Months Ended Six Months Ended October 31, October 31, (in thousands) 2020 2019 2020 2019 Interest cost $ 1,166 $ 1,494 $ 2,331 $ 2,987 Expected return on plan assets (2,108) (2,082) (4,215) (4,163) Recognized net actuarial loss 440 423 880 846 Net periodic pension benefit $ (502) $ (165) $ (1,004) $ (330)

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Oct. 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 October 31, 2020 and April 30, 2020 at fair value on a recurring basis (in thousands): Fair Value Measurements As of October 31, 2020 Level 1 Level 2 Level 3 ASSETS: Mutual funds $ 827 $ — $ — Foreign exchange forward contracts — 719 — Total assets at fair value $ 827 $ 719 $ — 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	6 Months Ended
	Oct. 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 October 31, 2020, $102 million was outstanding on each of the Initial Term Loan and the Delayed Draw Loan for a total of $204 million. As of 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 October 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 October 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. On September 16, 2020 the “Total Funded Debt to EBITDA Ratio” was amended to a “Total Net Funded Debt to EBITDA Ratio” to include Unrestricted Cash in the aggregate amount not to exceed $100 million. The maximum “Total Net Funded Debt to EBITDA Ratio” can be 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 Net 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 Net 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, 2020, the Company's Total Net Funded Debt to EBITDA Ratio was 2.08 and the Fixed Charge Coverage Ratio was 5.34. As of October 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 October 31, 2020, the Company and its restricted subsidiaries were in compliance with all covenants under the indenture governing the Senior Notes. At October 31, 2020, the book value of the Senior Notes was $350 million and the fair value was $356.6 million, based on Level 1 inputs.

Income Taxes

Income Taxes	6 Months Ended
	Oct. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective income tax rate for the three- and six-month periods ended October 31, 2020 was 25.5% and 26.0%, respectively, compared with 26.1% and 26.0% in the comparable periods in the prior fiscal year. The decrease in the effective tax rate for the second quarter of fiscal 2021 as compared to the comparable period in the prior fiscal year was primarily due to less unfavorable permanent tax items. During the first six months 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	6 Months Ended
	Oct. 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- and six-months ended October 31, 2020 and 2019: Three Months Ended Six Months Ended October 31, October 31, (in thousands) 2020 2019 2020 2019 Home center retailers $ 223,118 $ 189,148 $ 397,113 $ 387,899 Builders 171,042 184,755 335,390 357,344 Independent dealers and distributors 54,423 54,113 106,167 110,138 Net Sales $ 448,583 $ 428,016 $ 838,670 $ 855,381

Concentration of Risk

Concentration of Risk	6 Months Ended
	Oct. 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 October 31, 2020, the Company's two largest customers, Customers A and B, represented 31.5% and 25.5% of the Company's gross customer receivables, respectively. At October 31, 2019, Customers A and B represented 25.5% and 19.7% 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, 2020 and 2019: Three Months Ended Six Months Ended October 31, October 31, 2020 2019 2020 2019 Customer A 30.5% 28.7% 29.2% 28.7% Customer B 19.2% 15.5% 18.1% 16.6%

Leases

Leases	6 Months Ended
	Oct. 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 sheets. Lease liabilities related to 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 sheets. 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) 2020 2019 Finance lease cost: Reduction in the carrying value of right-of-use assets $ 222 $ 1,239 Interest on lease liabilities 30 105 Operating lease cost 13,366 12,768 Additional information related to leases was as follows: Six Months Ended October 31, (in thousands) 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for finance leases $ 30 $ 105 Operating cash flows for operating leases 12,164 11,783 Financing cash flows for financing leases 210 1,203 Right-of-use assets obtained in exchange for new finance lease liabilities 941 643 Right-of-use assets obtained in exchange for new operating lease liabilities 6,788 24,178 Weighted average remaining lease term (years) Weighted average remaining lease term - finance leases 3.18 3.36 Weighted average remaining lease term - operating leases 7.08 6.51 Weighted average discount rate Weighted average discount rate - finance leases 3.02 % 3.20 % Weighted average discount rate - operating leases 3.31 % 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, 2020: (in thousands) Operating leases Financing leases Year ending April 30, 2021 $ 12,157 $ 1,247 2022 21,928 1,766 2023 21,250 1,300 2024 19,345 1,001 2025 17,157 318 Thereafter 57,709 92 Total lease payments 149,546 5,724 Less imputed interest (16,516) (259) Total lease liability 133,030 5,465 Current maturities (19,519) (2,140) Lease liability - long-term $ 113,511 $ 3,325 Lease assets $ 128,125 $ 10,013
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 sheets. Lease liabilities related to 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 sheets. 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) 2020 2019 Finance lease cost: Reduction in the carrying value of right-of-use assets $ 222 $ 1,239 Interest on lease liabilities 30 105 Operating lease cost 13,366 12,768 Additional information related to leases was as follows: Six Months Ended October 31, (in thousands) 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for finance leases $ 30 $ 105 Operating cash flows for operating leases 12,164 11,783 Financing cash flows for financing leases 210 1,203 Right-of-use assets obtained in exchange for new finance lease liabilities 941 643 Right-of-use assets obtained in exchange for new operating lease liabilities 6,788 24,178 Weighted average remaining lease term (years) Weighted average remaining lease term - finance leases 3.18 3.36 Weighted average remaining lease term - operating leases 7.08 6.51 Weighted average discount rate Weighted average discount rate - finance leases 3.02 % 3.20 % Weighted average discount rate - operating leases 3.31 % 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, 2020: (in thousands) Operating leases Financing leases Year ending April 30, 2021 $ 12,157 $ 1,247 2022 21,928 1,766 2023 21,250 1,300 2024 19,345 1,001 2025 17,157 318 Thereafter 57,709 92 Total lease payments 149,546 5,724 Less imputed interest (16,516) (259) Total lease liability 133,030 5,465 Current maturities (19,519) (2,140) Lease liability - long-term $ 113,511 $ 3,325 Lease assets $ 128,125 $ 10,013

Restructuring

Restructuring	3 Months Ended
	Oct. 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 second quarter and first half of fiscal 2021, the Company recognized pre-tax restructuring charges, net of $(0.1) million and $1.6 million, respectively, 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 and relocation of property and 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 second quarter and first half of fiscal 2021, the Company recognized pre-tax restructuring charges of $2.9 million and $4.7 million, respectively, related to the closure of the plant. Included in the $4.7 million of restructuring charges for the first half of fiscal 2021 were $0.8 million of severance and separation costs and $3.9 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 October 31, 2020 which relates to employee termination costs accrued but not yet paid as follows: October 31, (in thousands) 2020 Restructuring reserve balance at May 1 $ 189 Expense 1,736 Payments and adjustments (1,502) Restructuring reserve balance at October 31 $ 423

Other Information

Other Information	6 Months Ended
	Oct. 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 October 31, 2020. The Company’s second quarter of fiscal 2021 results were negatively impacted by an accrual of $1.5 million related to a proposed legal settlement of a putative class action brought on behalf of certain hourly-paid current and former employees of our subsidiaries, RSI Home Products, Inc. and RSI Professional Cabinet Solutions, asserting several claims including violations of California wage and hour laws.

New Accounting Pronouncements L

New Accounting Pronouncements Lessee Operating leases (Policies)	6 Months Ended
	Oct. 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 sheets. Lease liabilities related to 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.

Net Earnings Per Share (Tables)

Net Earnings Per Share (Tables)	6 Months Ended
	Oct. 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 Six Months Ended October 31, October 31, (in thousands, except per share amounts) 2020 2019 2020 2019 Numerator used in basic and diluted net earnings per common share: Net income $ 22,256 $ 22,163 $ 38,741 $ 49,044 Denominator: Denominator for basic net earnings per common share - weighted-average shares 16,992 16,920 16,965 16,892 Effect of dilutive securities: Stock options and restricted stock units 55 36 72 40 Denominator for diluted net earnings per common share - weighted-average shares and assumed conversions 17,047 16,956 17,037 16,932 Net earnings per share Basic $ 1.31 $ 1.31 $ 2.28 $ 2.90 Diluted $ 1.31 $ 1.31 $ 2.27 $ 2.90

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Oct. 31, 2020
Share-based Payment Arrangement, Noncash Expense [Abstract]
Stock-Based Compensation Expense Allocated	For the three and six-month periods ended October 31, 2020 and 2019, stock-based compensation expense was allocated as follows: Three Months Ended Six Months Ended (in thousands) 2020 2019 2020 2019 Cost of sales and distribution $ 409 $ 277 $ 708 $ 492 Selling and marketing expenses 354 265 333 473 General and administrative expenses 503 636 1,186 1,110 Stock-based compensation expense $ 1,266 $ 1,178 $ 2,227 $ 2,075

Customer Receivables (Tables)

Customer Receivables (Tables)	6 Months Ended
	Oct. 31, 2020
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Components of Customer Receivables	The components of customer receivables were: October 31, April 30, (in thousands) 2020 2020 Gross customer receivables $ 158,156 $ 112,528 Less: Allowance for doubtful accounts (448) (472) Allowance for returns and discounts (8,543) (5,712) Net customer receivables $ 149,165 $ 106,344

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Oct. 31, 2020
Inventory, Net [Abstract]
Components of Inventories	The components of inventories were: October 31, April 30, (in thousands) 2020 2020 Raw materials $ 51,500 $ 51,460 Work-in-process 50,007 42,381 Finished goods 41,247 32,572 Total FIFO inventories 142,754 126,413 Reserve to adjust inventories to LIFO value (15,039) (14,577) Total inventories $ 127,715 $ 111,836

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
	Oct. 31, 2020
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) 2020 2020 Land $ 4,431 $ 4,431 Buildings and improvements 121,743 120,819 Buildings and improvements - finance leases 11,636 11,636 Machinery and equipment 305,692 312,806 Machinery and equipment - finance leases 30,870 30,911 Construction in progress 13,313 8,164 487,685 488,767 Less accumulated amortization and depreciation (288,790) (284,943) Total $ 198,895 $ 203,824

Intangibles (Tables)

Intangibles (Tables)	6 Months Ended
	Oct. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Components of Intangible Assets	The components of customer relationship intangibles were: October 31, April 30, (in thousands) 2020 2020 Customer relationship intangibles $ 274,000 $ 274,000 Less accumulated amortization (129,389) (106,556) Total $ 144,611 $ 167,444 The components of trademarks were: October 31, April 30, (in thousands) 2020 2020 Trademarks $ 10,000 $ 10,000 Less accumulated amortization (9,444) (7,778) Total $ 556 $ 2,222

Product Warranty (Tables)

Product Warranty (Tables)	6 Months Ended
	Oct. 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: Six Months Ended October 31, (in thousands) 2020 2019 Beginning balance at May 1 $ 3,753 $ 4,616 Accrual 9,560 12,539 Settlements (8,948) (12,294) Ending balance at October 31 $ 4,365 $ 4,861

Pension Benefits (Tables)

Pension Benefits (Tables)	6 Months Ended
	Oct. 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- and six-month periods ended October 31, 2020 and 2019: Three Months Ended Six Months Ended October 31, October 31, (in thousands) 2020 2019 2020 2019 Interest cost $ 1,166 $ 1,494 $ 2,331 $ 2,987 Expected return on plan assets (2,108) (2,082) (4,215) (4,163) Recognized net actuarial loss 440 423 880 846 Net periodic pension benefit $ (502) $ (165) $ (1,004) $ (330)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Oct. 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 October 31, 2020 and April 30, 2020 at fair value on a recurring basis (in thousands): Fair Value Measurements As of October 31, 2020 Level 1 Level 2 Level 3 ASSETS: Mutual funds $ 827 $ — $ — Foreign exchange forward contracts — 719 — Total assets at fair value $ 827 $ 719 $ — 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)	6 Months Ended
	Oct. 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- and six-months ended October 31, 2020 and 2019: Three Months Ended Six Months Ended October 31, October 31, (in thousands) 2020 2019 2020 2019 Home center retailers $ 223,118 $ 189,148 $ 397,113 $ 387,899 Builders 171,042 184,755 335,390 357,344 Independent dealers and distributors 54,423 54,113 106,167 110,138 Net Sales $ 448,583 $ 428,016 $ 838,670 $ 855,381

Concentration of Risk (Tables)

Concentration of Risk (Tables)	6 Months Ended
	Oct. 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 six-months ended October 31, 2020 and 2019: Three Months Ended Six Months Ended October 31, October 31, 2020 2019 2020 2019 Customer A 30.5% 28.7% 29.2% 28.7% Customer B 19.2% 15.5% 18.1% 16.6%

Leases (Tables)

Leases (Tables)	6 Months Ended
	Oct. 31, 2020
Leases [Abstract]
Components of Lease Costs and Additional Information	The components of lease costs were as follows: Six Months Ended October 31, (in thousands) 2020 2019 Finance lease cost: Reduction in the carrying value of right-of-use assets $ 222 $ 1,239 Interest on lease liabilities 30 105 Operating lease cost 13,366 12,768 Additional information related to leases was as follows: Six Months Ended October 31, (in thousands) 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for finance leases $ 30 $ 105 Operating cash flows for operating leases 12,164 11,783 Financing cash flows for financing leases 210 1,203 Right-of-use assets obtained in exchange for new finance lease liabilities 941 643 Right-of-use assets obtained in exchange for new operating lease liabilities 6,788 24,178 Weighted average remaining lease term (years) Weighted average remaining lease term - finance leases 3.18 3.36 Weighted average remaining lease term - operating leases 7.08 6.51 Weighted average discount rate Weighted average discount rate - finance leases 3.02 % 3.20 % Weighted average discount rate - operating leases 3.31 % 4.26 %
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, 2020: (in thousands) Operating leases Financing leases Year ending April 30, 2021 $ 12,157 $ 1,247 2022 21,928 1,766 2023 21,250 1,300 2024 19,345 1,001 2025 17,157 318 Thereafter 57,709 92 Total lease payments 149,546 5,724 Less imputed interest (16,516) (259) Total lease liability 133,030 5,465 Current maturities (19,519) (2,140) Lease liability - long-term $ 113,511 $ 3,325 Lease assets $ 128,125 $ 10,013
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, 2020: (in thousands) Operating leases Financing leases Year ending April 30, 2021 $ 12,157 $ 1,247 2022 21,928 1,766 2023 21,250 1,300 2024 19,345 1,001 2025 17,157 318 Thereafter 57,709 92 Total lease payments 149,546 5,724 Less imputed interest (16,516) (259) Total lease liability 133,030 5,465 Current maturities (19,519) (2,140) Lease liability - long-term $ 113,511 $ 3,325 Lease assets $ 128,125 $ 10,013

Restructuring Charges Restructu

Restructuring Charges Restructuring Charges (Tables)	6 Months Ended
	Oct. 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 October 31, 2020 which relates to employee termination costs accrued but not yet paid as follows: October 31, (in thousands) 2020 Restructuring reserve balance at May 1 $ 189 Expense 1,736 Payments and adjustments (1,502) Restructuring reserve balance at October 31 $ 423

Basis of Presentation (Details)

Basis of Presentation (Details)	3 Months Ended		6 Months Ended
	Oct. 31, 2020USD ($)$ / $	Oct. 31, 2019USD ($)	Oct. 31, 2020USD ($)$ / $	Oct. 31, 2019USD ($)
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	300,600,000		300,600,000
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	$ 700,000		$ 700,000
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 | $ / $	21.89		21.89
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		23.42

New Accounting Pronouncements (

New Accounting Pronouncements (Details) - USD ($) $ in Thousands	Oct. 31, 2020	Apr. 30, 2020	May 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets	$ 128,125	$ 127,668
Operating lease liabilities	$ 133,030
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
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, 2020	Jul. 31, 2020	Oct. 31, 2019	Jul. 31, 2019	Oct. 31, 2020	Oct. 31, 2019
Earnings Per Share [Abstract]
Net income	$ 22,256	$ 16,485	$ 22,163	$ 26,881	$ 38,741	$ 49,044
Denominator for basic net earnings per common share - weighted-average shares	16,992,297		16,919,664		16,964,565	16,892,267
Effect of dilutive securities:
Stock options and restricted stock units	55,000		36,000		72,000	40,000
Diluted (in shares)	17,047,296		16,955,835		17,036,652	16,932,236
Net earnings per share
Basic (in usd per share)	$ 1.31		$ 1.31		$ 2.28	$ 2.90
Diluted (in usd per share)	$ 1.31		$ 1.31		$ 2.27	$ 2.90

Net Earnings Per Share (Narrati

Net Earnings Per Share (Narrative) (Details) - shares	3 Months Ended	6 Months Ended
	Oct. 31, 2020	Oct. 31, 2020
Earnings Per Share [Abstract]
Stock repurchased during period (shares)		0
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, 2020	Oct. 31, 2019	Oct. 31, 2020	Oct. 31, 2019	Apr. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 1,266	$ 1,178	$ 2,227	$ 2,075
Liability for payment of the RSTUs	$ 56,270		$ 56,270		$ 49,064
Employee Service-Based RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awarded in period (shares)	8,200		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	$ 200	$ 200	$ 400	$ 200
Liability for payment of the RSTUs	$ 600		$ 600		$ 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		6 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2020	Oct. 31, 2019
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 1,266	$ 1,178	$ 2,227	$ 2,075
Cost of Sales and Distribution [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	409	277	708	492
Selling and Marketing Expenses [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	354	265	333	473
General and Administrative Expenses [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 503	$ 636	$ 1,186	$ 1,110

Customer Receivables (Component

Customer Receivables (Components Of Customer Receivables ) (Details) - USD ($) $ in Thousands	Oct. 31, 2020	Apr. 30, 2020
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Gross customer receivables	$ 158,156	$ 112,528
Less:
Allowance for doubtful accounts	(448)	(472)
Allowance for returns and discounts	(8,543)	(5,712)
Net customer receivables	$ 149,165	$ 106,344

Inventories (Components Of Inve

Inventories (Components Of Inventories) (Details) - USD ($) $ in Thousands	Oct. 31, 2020	Apr. 30, 2020
Inventory, Net [Abstract]
Raw materials	$ 51,500	$ 51,460
Work-in-process	50,007	42,381
Finished goods	41,247	32,572
Total FIFO inventories	142,754	126,413
Reserve to adjust inventories to LIFO value	(15,039)	(14,577)
Total inventories	127,715	111,836
Inventory carried under FIFO	78,000	66,000
Inventory carried under LIFO	$ 49,700	$ 45,800

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2020	Oct. 31, 2019	Apr. 30, 2020
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 487,685		$ 487,685		$ 488,767
Less accumulated amortization and depreciation	(288,790)		(288,790)		(284,943)
Property, Plant and Equipment, Net, Total	198,895		198,895		203,824
Amortization and depreciation expense on property, plant and equipment	10,600	$ 9,200	22,200	$ 18,300
Accumulated amortization on capital leases	32,500		32,500		32,300
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	4,431		4,431		4,431
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	121,743		121,743		120,819
Buildings and improvements - finance leases
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	11,636		11,636		11,636
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	305,692		305,692		312,806
Machinery and equipment - finance leases
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	30,870		30,870		30,911
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	13,313		13,313		$ 8,164
Manufacturing Facility
Property, Plant and Equipment [Line Items]
Amortization and depreciation expense on property, plant and equipment	$ 200		$ 1,300

Intangibles (Schedule of Intang

Intangibles (Schedule of Intangible Assets) (Details) - USD ($) $ in Thousands	Oct. 31, 2020	Apr. 30, 2020
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Intangibles, gross	$ 274,000	$ 274,000
Less accumulated amortization	(129,389)	(106,556)
Intangibles, net	144,611	167,444
Trademarks
Finite-Lived Intangible Assets [Line Items]
Intangibles, gross	10,000	10,000
Less accumulated amortization	(9,444)	(7,778)
Intangibles, net	$ 556	$ 2,222

Intangibles (Narrative) (Detail

Intangibles (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2020	Oct. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 12.3	$ 12.3	$ 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, 2020	Oct. 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	9,560	12,539
Settlements	(8,948)	(12,294)
Ending balance	$ 4,365	$ 4,861

Pension Benefits (Net Periodic

Pension Benefits (Net Periodic Pension Cost) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2020	Oct. 31, 2019
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]
Interest cost	$ 1,166	$ 1,494	$ 2,331	$ 2,987
Expected return on plan assets	(2,108)	(2,082)	(4,215)	(4,163)
Recognized net actuarial loss	440	423	880	846
Net periodic pension benefit	$ (502)	$ (165)	$ (1,004)	$ (330)

Pension Benefits (Narrative) (D

Pension Benefits (Narrative) (Details) $ in Millions	3 Months Ended	6 Months Ended	9 Months Ended
	Jul. 31, 2020plan	Oct. 31, 2020plan	Jan. 31, 2020USD ($)
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]
Number of defined benefit pension plans | plan	2	1
Pension contribution | $			$ 0.5

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value Of Assets On Recurring Basis) (Details) - USD ($) $ in Thousands	Oct. 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	$ 827
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	719
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	719
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	827	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 ($)	Oct. 31, 2020USD ($)	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		2.08
Fixed charge coverage ratio		5.34
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		102,000,000	$ 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		204,000,000	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		356,600,000
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		6 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2020	Oct. 31, 2019
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	25.50%	26.10%	26.00%	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		6 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2020	Oct. 31, 2019
Disaggregation of Revenue [Line Items]
Net sales	$ 448,583	$ 428,016	$ 838,670	$ 855,381
Home center retailers
Disaggregation of Revenue [Line Items]
Net sales	223,118	189,148	397,113	387,899
Builders
Disaggregation of Revenue [Line Items]
Net sales	171,042	184,755	335,390	357,344
Independent dealers and distributors
Disaggregation of Revenue [Line Items]
Net sales	$ 54,423	$ 54,113	$ 106,167	$ 110,138

Concentration of Risk (Details)

Concentration of Risk (Details)	3 Months Ended		6 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2020	Oct. 31, 2019
Customer receivables | Customer A
Concentration Risk [Line Items]
Concentration risk (as a percent)			31.50%	25.50%
Customer receivables | Customer B
Concentration Risk [Line Items]
Concentration risk (as a percent)			25.50%	19.70%
Sales revenue, gross | Customer A
Concentration Risk [Line Items]
Concentration risk (as a percent)	30.50%	28.70%	29.20%	28.70%
Sales revenue, gross | Customer B
Concentration Risk [Line Items]
Concentration risk (as a percent)	19.20%	15.50%	18.10%	16.60%

Leases - Components of Lease Co

Leases - Components of Lease Costs (Details) - USD ($) $ in Thousands	6 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Finance lease cost:
Reduction in the carrying value of right-of-use assets	$ 222	$ 1,239
Interest on lease liabilities	30	105
Operating lease cost	$ 13,366	$ 12,768

Leases - Additional Information

Leases - Additional Information Related to Leases (Details) - USD ($)	6 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Cash Paid For Amounts Included In The Measurement Of Lease Liabilities [Abstract]
Operating cash flows for finance leases	$ 30,000	$ 105,000
Operating cash flows for operating leases	12,164,000	11,783,000
Financing cash flows for financing leases	210,000	1,203,000
Right-of-use assets obtained in exchange for new finance lease liabilities	941	643
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 6,788	$ 24,178
Weighted average remaining lease term (years)
Weighted average remaining lease term - finance leases	3 years 2 months 4 days	3 years 4 months 9 days
Weighted average remaining lease term - operating leases	7 years 29 days	6 years 6 months 3 days
Weighted average discount rate
Weighted average discount rate - finance leases (as a percent)	3.02%	3.20%
Weighted average discount rate - operating leases (as a percent)	3.31%	4.26%

Leases - Reconciliation of Futu

Leases - Reconciliation of Future Undiscounted Cash Flows to Operating and Finance Leases (Details) - USD ($) $ in Thousands	Oct. 31, 2020	Apr. 30, 2020
Operating leases
2021	$ 12,157
2022	21,928
2023	21,250
2024	19,345
2025	17,157
Thereafter	57,709
Total lease payments	149,546
Less imputed interest	(16,516)
Operating lease liabilities	133,030
Current maturities	(19,519)	$ (18,896)
Long-term lease liability - operating	113,511	112,454
Lease assets	128,125	$ 127,668
Financing leases
2021	1,247
2022	1,766
2023	1,300
2024	1,001
2025	318
Thereafter	92
Total lease payments	5,724
Less imputed interest	(259)
Finance Lease, Liability	5,465
Current maturities	(2,140)
Lease liability - long-term	3,325
Lease assets	$ 10,013

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2020	Oct. 31, 2019	Jun. 30, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring charges, net	$ 2,791	$ (188)	$ 6,251	$ (207)
Manufacturing Plant Closure
Restructuring Cost and Reserve [Line Items]
Restructuring charges, net	2,900		4,700
Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring charges, net	1,736
Employee Severance | Nationwide Reductions In Force
Restructuring Cost and Reserve [Line Items]
Restructuring charges, net	$ (100)		1,600
Employee Severance | Manufacturing Plant Closure
Restructuring Cost and Reserve [Line Items]
Restructuring charges, net			800
Other Restructuring | Manufacturing Plant Closure
Restructuring Cost and Reserve [Line Items]
Restructuring charges, net			$ 3,900
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		6 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2020	Oct. 31, 2019
Restructuring Reserve [Roll Forward]
Expense	$ 2,791	$ (188)	$ 6,251	$ (207)
Employee Severance
Restructuring Reserve [Roll Forward]
Restructuring reserve balance at May 1			189
Expense	1,736
Payments and adjustments	(1,502)
Restructuring reserve balance at October 31	$ 423		$ 423