American Woodmark (AMWD) 10-Q 25 Feb 21 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Jan. 31, 2021	Feb. 24, 2021
Cover [Abstract]
Entity Central Index Key	0000794619
Current Fiscal Year End Date	--04-30
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jan. 31, 2021
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		17,001,147

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jan. 31, 2021	Apr. 30, 2020
Current assets
Cash and cash equivalents	$ 91,792	$ 97,059
Customer receivables, net	147,834	106,344
Inventories	144,592	111,836
Prepaid expenses and other	19,836	9,933
Total current assets	404,054	325,172
Property, plant and equipment, net	200,885	203,824
Operating lease right-of-use assets	121,600	127,668
Goodwill	767,612	767,612
Promotional displays, net	14,221	13,966
Deferred Tax Assets, Net of Valuation Allowance	1,101	915
Other assets	14,201	13,983
TOTAL ASSETS	1,656,868	1,622,806
Current liabilities
Accounts payable	88,765	56,342
Current maturities of long-term debt	2,044	2,216
Short-term lease liability - operating	18,435	18,896
Accrued compensation and related expenses	66,660	49,064
Accrued marketing expenses	13,046	12,361
Other accrued expenses	21,933	16,727
Total current liabilities	210,883	155,606
Long-term debt, less current maturities	516,556	594,921
Deferred Income Tax Liabilities, Net	45,609	52,935
Long-term lease liability - operating	108,939	112,454
Other long-term liabilities	11,490	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	365,363	359,430
Retained earnings	448,217	392,281
Accumulated other comprehensive loss - Defined benefit pension plans	(50,189)	(51,173)
Total shareholders' equity	763,391	700,538
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	1,656,868	1,622,806
Customer relationships
Current assets
Intangible Assets, Net (Excluding Goodwill)	133,194	167,444
Trademarks
Current assets
Intangible Assets, Net (Excluding Goodwill)	$ 0	$ 2,222

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jan. 31, 2021	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	17,001,147	16,926,537
Common stock, shares outstanding	17,001,147	16,926,537

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2021	Jan. 31, 2020
Income Statement [Abstract]
Net sales	$ 431,954	$ 395,755	$ 1,270,624	$ 1,251,136
Cost of sales and distribution	356,134	323,407	1,025,155	997,219
Gross Profit	75,820	72,348	245,469	253,917
Selling and marketing expenses	21,862	21,401	63,368	62,539
General and administrative expenses	26,202	26,914	86,414	86,246
Restructuring charges, net	(847)	0	5,404	(207)
Operating Income	28,603	24,033	90,283	105,339
Interest expense, net	5,746	6,924	17,757	22,448
Other income, net	(259)	(165)	(2,928)	(699)
Income Before Income Taxes	23,116	17,274	75,454	83,590
Income tax expense	5,921	4,470	19,518	21,742
Net Income	$ 17,195	$ 12,804	$ 55,936	$ 61,848
Weighted Average Shares Outstanding
Basic (in shares)	16,994,975	16,922,231	16,974,701	16,902,255
Diluted (in shares)	17,047,211	16,974,956	17,036,586	16,947,449
Net earnings per share
Basic (in usd per share)	$ 1.01	$ 0.76	$ 3.30	$ 3.66
Diluted (in usd per share)	$ 1.01	$ 0.75	$ 3.28	$ 3.65

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2021	Jan. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 17,195	$ 12,804	$ 55,936	$ 61,848
Other comprehensive income, net of tax:
Change in pension benefits, net of deferred taxes of $111 and $107, and $338 and $322 for the three and nine months ended January 31, 2021 and 2020, respectively	328	315	984	946
Total Comprehensive Income	$ 17,523	$ 13,119	$ 56,920	$ 62,794

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2021	Jan. 31, 2020
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	61,848
Balance at end of period (shares) at Jan. 31, 2020		16,925,247
Balance at end of period at Jan. 31, 2020	689,285	$ 358,562	379,268	(48,545)
Balance at beginning of period (shares) at Jul. 31, 2019		16,915,670
Balance at beginning of period at Jul. 31, 2019	651,168	$ 356,043	344,301	(49,176)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	22,163		22,163
Other comprehensive loss, net of tax	316			316
Stock-based compensation	1,178	$ 1,178
Exercise of stock-based compensation awards, net of amounts withheld for taxes (shares)		5,877
Exercise of stock-based compensation awards, net of amounts withheld for taxes	83	$ 83
Stock repurchases	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)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	12,804		12,804
Other comprehensive loss, net of tax	315			315
Stock-based compensation	1,047	$ 1,047
Exercise of stock-based compensation awards, net of amounts withheld for taxes (shares)		3,700
Exercise of stock-based compensation awards, net of amounts withheld for taxes	211	$ 211
Balance at end of period (shares) at Jan. 31, 2020		16,925,247
Balance at end of period at Jan. 31, 2020	$ 689,285	$ 358,562	379,268	(48,545)
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	$ 55,936
Balance at end of period (shares) at Jan. 31, 2021	17,001,147	17,001,147
Balance at end of period at Jan. 31, 2021	$ 763,391	$ 365,363	448,217	(50,189)
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
Balance at end of period at Oct. 31, 2020	745,194	$ 364,689	431,022	(50,517)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	17,195		17,195
Other comprehensive loss, net of tax	328			328
Stock-based compensation	1,316	$ 1,316
Exercise of stock-based compensation awards, net of amounts withheld for taxes (shares)		7,887
Exercise of stock-based compensation awards, net of amounts withheld for taxes	$ (642)	$ (642)
Balance at end of period (shares) at Jan. 31, 2021	17,001,147	17,001,147
Balance at end of period at Jan. 31, 2021	$ 763,391	$ 365,363	$ 448,217	$ (50,189)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
OPERATING ACTIVITIES
Net income	$ 55,936,000	$ 61,848,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	76,482,000	73,362,000
Net (gain) loss on disposal of property, plant and equipment	(2,008,000)	350,000
Reduction in the carrying amount of operating lease right-of-use assets	20,252,000	19,462,000
Amortization of debt issuance costs	1,901,000	1,963,000
Unrealized gain on foreign exchange forward contracts	(1,720,000)	(244,000)
Stock-based compensation expense	3,543,000	3,122,000
Deferred income taxes	(8,939,000)	(8,623,000)
Pension contributions in excess of expense	(1,505,000)	(964,000)
Contributions of employer stock to employee benefit plan	3,743,000	3,772,000
Other non-cash items	1,899,000	314,000
Changes in operating assets and liabilities:
Customer receivables	(43,564,000)	5,170,000
Income taxes receivable	(4,070,000)	(5,229,000)
Inventories	(33,835,000)	(14,289,000)
Prepaid expenses and other assets	(6,606,000)	(6,785,000)
Accounts payable	31,293,000	4,438,000
Accrued compensation and related expenses	9,309,000	(9,193,000)
Operating lease liabilities	(18,161,000)	(16,731,000)
Marketing and other accrued expenses	23,559,000	465,000
Net cash provided by operating activities	107,509,000	112,208,000
INVESTING ACTIVITIES
Payments to acquire property, plant and equipment	(25,479,000)	(25,563,000)
Proceeds from sales of property, plant and equipment	3,872,000	321,000
Maturities of certificates of deposit	0	1,500,000
Investment in promotional displays	(7,757,000)	(6,471,000)
Net cash used by investing activities	(29,364,000)	(30,213,000)
FINANCING ACTIVITIES
Payments of long-term debt	(81,889,000)	(91,833,000)
Proceeds from issuance of common stock	0	295,000
Withholding of employee taxes related to stock-based compensation	(1,351,000)	(1,050,000)
Excess Tax Benefit from Share-based Compensation, Financing Activities	(172,000)	0
Net cash used by financing activities	(83,412,000)	(92,588,000)
Net decrease in cash and cash equivalents	(5,267,000)	(10,593,000)
Cash and cash equivalents, beginning of period	97,059,000	57,656,000
Cash and cash equivalents, end of period	91,792,000	47,063,000
Non-cash investing and financing activities:
Property, plant and equipment included in accounts payable at period end	1,130	1,953
Cash paid during the period for:
Interest	11,757	17,322
Income taxes	$ 31,830	$ 35,870

Basis of Presentation

Basis of Presentation	9 Months Ended
	Jan. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete consolidated financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the nine-month period ended January 31, 2021 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. Although the impacts from the COVID-19 pandemic lessened in the second and third 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 nine-month periods ended January 31, 2021 and 2020. Intangible assets consist of customer relationship intangibles and trademarks. The Company amortizes the cost of intangible assets over their estimated useful lives, which range from 3 to 6 years, unless such lives are deemed indefinite. There were no impairment charges related to intangible assets for the three- and nine-month periods ended January 31, 2021 and 2020. 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 January 31, 2021, the Company held forward contracts maturing from February 2021 to April 2021 to purchase 128.8 million Mexican pesos at exchange rates ranging from 22.12 to 23.42 Mexican pesos to one U.S. dollar. An asset of $0.6 million is recorded in prepaid expenses and other on the condensed consolidated balance sheet.

New Accounting Pronouncements

New Accounting Pronouncements	9 Months Ended
	Jan. 31, 2021
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 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.

Net Earnings Per Share

Net Earnings Per Share	9 Months Ended
	Jan. 31, 2021
Earnings Per Share [Abstract]
Net Earnings Per Share	Net Earnings Per Share The following table sets forth the computation of basic and diluted net earnings per share: Three Months Ended Nine Months Ended January 31, January 31, (in thousands, except per share amounts) 2021 2020 2021 2020 Numerator used in basic and diluted net earnings per common share: Net income $ 17,195 $ 12,804 $ 55,936 $ 61,848 Denominator: Denominator for basic net earnings per common share - weighted-average shares 16,995 16,922 16,975 16,902 Effect of dilutive securities: Stock options and restricted stock units 52 53 62 45 Denominator for diluted net earnings per common share - weighted-average shares and assumed conversions 17,047 16,975 17,037 16,947 Net earnings per share Basic $ 1.01 $ 0.76 $ 3.30 $ 3.66 Diluted $ 1.01 $ 0.75 $ 3.28 $ 3.65 There were no potentially dilutive securities for the three- and nine-month periods ended January 31, 2021 and 2020, which were excluded from the calculation of net earnings per diluted share.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Jan. 31, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract]
Stock-Based Compensation	Stock-Based Compensation The Company has various stock-based compensation plans. During the nine-months ended January 31, 2021, the Board of Directors of the Company approved grants of service-based restricted stock units ("RSUs") and performance-based RSUs to key employees and non-employee directors. The employee performance-based RSUs totaled 124,374 units and the employee and non-employee director service-based RSUs totaled 75,206 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, while RSUs granted to non-employee directors vest daily over a two-year period from the date of grant. For the three and nine-month periods ended January 31, 2021 and 2020, stock-based compensation expense was allocated as follows: Three Months Ended Nine Months Ended (in thousands) 2021 2020 2021 2020 Cost of sales and distribution $ 426 $ 224 $ 1,134 $ 716 Selling and marketing expenses 365 240 698 713 General and administrative expenses 525 583 1,711 1,693 Stock-based compensation expense $ 1,316 $ 1,047 $ 3,543 $ 3,122 During the nine months ended January 31, 2021, 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 January 31, 2021 and 2020, respectively, and $0.6 million and $0.4 million for the nine-month periods ended January 31, 2021 and 2020, respectively. A liability for payment of the RSTUs is included in the condensed consolidated balance sheets in the amount of $0.8 million and $0.4 million as of January 31, 2021 and April 30, 2020, respectively.

Customer Receivables

Customer Receivables	9 Months Ended
	Jan. 31, 2021
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Customer Receivables	Customer Receivables The components of customer receivables were: January 31, April 30, (in thousands) 2021 2020 Gross customer receivables $ 156,732 $ 112,528 Less: Allowance for doubtful accounts (371) (472) Allowance for returns and discounts (8,527) (5,712) Net customer receivables $ 147,834 $ 106,344

Inventories

Inventories	9 Months Ended
	Jan. 31, 2021
Inventory, Net [Abstract]
Inventories	Inventories The components of inventories were: January 31, April 30, (in thousands) 2021 2020 Raw materials $ 60,321 $ 51,460 Work-in-process 51,967 42,381 Finished goods 47,343 32,572 Total FIFO inventories 159,631 126,413 Reserve to adjust inventories to LIFO value (15,039) (14,577) Total inventories $ 144,592 $ 111,836 Of the total inventory of $144.6 million at January 31, 2021, $88.3 million is carried under the FIFO method of accounting and $56.3 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	9 Months Ended
	Jan. 31, 2021
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment The components of property, plant and equipment were: January 31, April 30, (in thousands) 2021 2020 Land $ 4,431 $ 4,431 Buildings and improvements 115,515 120,819 Buildings and improvements - finance leases 11,636 11,636 Machinery and equipment 309,152 312,806 Machinery and equipment - finance leases 31,440 30,911 Construction in progress 19,608 8,164 491,782 488,767 Less accumulated amortization and depreciation (290,897) (284,943) Total $ 200,885 $ 203,824 Amortization and depreciation expense on property, plant and equipment amounted to $10.3 million and $9.3 million for the three months ended January 31, 2021 and 2020, respectively, and $32.5 million and $27.6 million for the nine months ended January 31, 2021 and 2020, respectively. The nine months ended January 31, 2021 includes accelerated depreciation expense of $1.3 million related to the closure of the plant located in Humboldt, Tennessee. There was no accelerated depreciation for the three months ended January 31, 2021. Accumulated amortization on finance leases included in the above table amounted to $33.2 million and $32.3 million as of January 31, 2021 and April 30, 2020, respectively.

Intangibles

Intangibles	9 Months Ended
	Jan. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Intangibles	Intangibles The components of customer relationship intangibles were: January 31, April 30, (in thousands) 2021 2020 Customer relationship intangibles $ 274,000 $ 274,000 Less accumulated amortization (140,806) (106,556) Total $ 133,194 $ 167,444 The components of trademarks were: January 31, April 30, (in thousands) 2021 2020 Trademarks $ 10,000 $ 10,000 Less accumulated amortization (10,000) (7,778) Total $ — $ 2,222

Product Warranty

Product Warranty	9 Months Ended
	Jan. 31, 2021
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: Nine Months Ended January 31, (in thousands) 2021 2020 Beginning balance at May 1 $ 3,753 $ 4,616 Accrual 13,885 17,132 Settlements (13,150) (17,611) Ending balance at January 31 $ 4,488 $ 4,137

Pension Benefits

Pension Benefits	9 Months Ended
	Jan. 31, 2021
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 nine-month periods ended January 31, 2021 and 2020: Three Months Ended Nine Months Ended January 31, January 31, (in thousands) 2021 2020 2021 2020 Interest cost $ 1,165 $ 1,493 $ 3,496 $ 4,480 Expected return on plan assets (2,107) (2,082) (6,322) (6,245) Recognized net actuarial loss 441 423 1,321 1,269 Net periodic pension benefit $ (501) $ (166) $ (1,505) $ (496)

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Jan. 31, 2021
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 January 31, 2021 and April 30, 2020 at fair value on a recurring basis (in thousands): Fair Value Measurements As of January 31, 2021 Level 1 Level 2 Level 3 ASSETS: Mutual funds $ 659 $ — $ — Foreign exchange forward contracts — 618 — Total assets at fair value $ 659 $ 618 $ — 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	9 Months Ended
	Jan. 31, 2021
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 January 31, 2021, $82 million was outstanding on each of the Initial Term Loan and the Delayed Draw Loan for a total of $164 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 January 31, 2021 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 January 31, 2021, 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 January 31, 2021, the Company's Total Net Funded Debt to EBITDA Ratio was 1.91 to 1.00 and the Fixed Charge Coverage Ratio was 6.50 to 1.00. As of January 31, 2021, 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 January 31, 2021, the Company and its restricted subsidiaries were in compliance with all covenants under the indenture governing the Senior Notes. At January 31, 2021, the book value of the Senior Notes was $350 million and the fair value was $360.5 million, based on Level 1 inputs.

Income Taxes

Income Taxes	9 Months Ended
	Jan. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective income tax rate for the three- and nine-month periods ended January 31, 2021 was 25.6% and 25.9%, respectively, compared with 25.9% and 26.0% in the comparable periods in the prior fiscal year. The effective rate was higher than the 21.0% U.S. statutory rate for all periods presented primarily due to state income taxes.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Jan. 31, 2021
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 nine-months ended January 31, 2021 and 2020: Three Months Ended Nine Months Ended January 31, January 31, (in thousands) 2021 2020 2021 2020 Home center retailers $ 216,819 $ 191,544 $ 613,932 $ 579,443 Builders 161,113 155,169 496,503 512,513 Independent dealers and distributors 54,022 49,042 160,189 159,180 Net Sales $ 431,954 $ 395,755 $ 1,270,624 $ 1,251,136

Concentration of Risk

Concentration of Risk	9 Months Ended
	Jan. 31, 2021
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 January 31, 2021, the Company's two largest customers, Customers A and B, represented 32.9% and 21.1% of the Company's gross customer receivables, respectively. At January 31, 2020, Customers A and B represented 30.3% and 24.5% 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 nine-months ended January 31, 2021 and 2020: Three Months Ended Nine Months Ended January 31, January 31, 2021 2020 2021 2020 Customer A 31.8% 30.1% 30.1% 29.2% Customer B 18.4% 18.3% 18.2% 17.2%

Leases

Leases	9 Months Ended
	Jan. 31, 2021
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: Nine Months Ended January 31, (in thousands) 2021 2020 Finance lease cost: Reduction in the carrying value of right-of-use assets $ 403 $ 1,922 Interest on lease liabilities 50 157 Operating lease cost 20,252 19,462 Additional information related to leases was as follows: Nine Months Ended January 31, (in thousands) 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for finance leases $ 50 $ 157 Operating cash flows for operating leases 18,161 16,731 Financing cash flows for financing leases 384 1,883 Right-of-use assets obtained in exchange for new finance lease liabilities 1,531 1,399 Right-of-use assets obtained in exchange for new operating lease liabilities 6,886 29,622 Weighted average remaining lease term (years) Weighted average remaining lease term - finance leases 3.06 3.44 Weighted average remaining lease term - operating leases 6.89 6.38 Weighted average discount rate Weighted average discount rate - finance leases 3.00 % 3.20 % Weighted average discount rate - operating leases 3.29 % 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 January 31, 2021: (in thousands) Operating leases Financing leases Year ending April 30, 2021 $ 6,036 $ 639 2022 21,984 1,966 2023 21,009 1,500 2024 19,101 1,137 2025 16,902 325 Thereafter 57,709 95 Total lease payments 142,741 5,662 Less imputed interest (15,367) (240) Total lease liability 127,374 5,422 Current maturities (18,435) (2,044) Lease liability - long-term $ 108,939 $ 3,378 Lease assets $ 121,600 $ 9,915
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: Nine Months Ended January 31, (in thousands) 2021 2020 Finance lease cost: Reduction in the carrying value of right-of-use assets $ 403 $ 1,922 Interest on lease liabilities 50 157 Operating lease cost 20,252 19,462 Additional information related to leases was as follows: Nine Months Ended January 31, (in thousands) 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for finance leases $ 50 $ 157 Operating cash flows for operating leases 18,161 16,731 Financing cash flows for financing leases 384 1,883 Right-of-use assets obtained in exchange for new finance lease liabilities 1,531 1,399 Right-of-use assets obtained in exchange for new operating lease liabilities 6,886 29,622 Weighted average remaining lease term (years) Weighted average remaining lease term - finance leases 3.06 3.44 Weighted average remaining lease term - operating leases 6.89 6.38 Weighted average discount rate Weighted average discount rate - finance leases 3.00 % 3.20 % Weighted average discount rate - operating leases 3.29 % 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 January 31, 2021: (in thousands) Operating leases Financing leases Year ending April 30, 2021 $ 6,036 $ 639 2022 21,984 1,966 2023 21,009 1,500 2024 19,101 1,137 2025 16,902 325 Thereafter 57,709 95 Total lease payments 142,741 5,662 Less imputed interest (15,367) (240) Total lease liability 127,374 5,422 Current maturities (18,435) (2,044) Lease liability - long-term $ 108,939 $ 3,378 Lease assets $ 121,600 $ 9,915

Restructuring

Restructuring	3 Months Ended
	Jan. 31, 2021
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 third quarter and first nine months of fiscal 2021, the Company recognized pre-tax restructuring charges, net of $(0.1) million and $1.5 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. Operations ceased at the Humboldt plant in July 2020. During the third quarter of fiscal 2021, the Company sold the Humboldt plant and recognized a gain of $2.3 million on the sale. During the third quarter and first nine months of fiscal 2021, the Company recognized pre-tax restructuring charges, net of $(0.7) million and $3.9 million, respectively, related to the closure of the plant. Included in the $3.9 million of restructuring charges for the first nine months of fiscal 2021 were $0.9 million of severance and separation costs and $3.0 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 January 31, 2021 which relates to employee termination costs accrued but not yet paid as follows: January 31, (in thousands) 2021 Restructuring reserve balance at May 1 $ 189 Expense 1,746 Payments and adjustments (1,767) Restructuring reserve balance at January 31 $ 168

Other Information

Other Information	9 Months Ended
	Jan. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Other Information	Other Information The Company is involved in suits and claims in the normal course of business, including without limitation product liability and general liability claims, and claims pending before the Equal Employment Opportunity Commission. On at least a quarterly basis, the Company consults with its legal counsel to ascertain the reasonable likelihood that such claims may result in a loss. As required by FASB Accounting Standards Codification Topic 450, “Contingencies,” the Company categorizes the various suits and claims into three categories according to their likelihood for resulting in potential loss: those that are probable, those that are reasonably possible, and those that are deemed to be remote. Where losses are deemed to be probable and estimable, accruals are made. Where losses are deemed to be reasonably possible, a range of loss estimates is determined and considered for disclosure. In determining these loss range estimates, the Company considers known values of similar claims and consults with outside counsel. The Company believes that the aggregate range of loss stemming from the various suits and asserted and unasserted claims that were deemed to be either probable or reasonably possible was not material as of January 31, 2021.

New Accounting Pronouncements L

New Accounting Pronouncements Lessee Operating leases (Policies)	9 Months Ended
	Jan. 31, 2021
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)	9 Months Ended
	Jan. 31, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the computation of basic and diluted net earnings per share: Three Months Ended Nine Months Ended January 31, January 31, (in thousands, except per share amounts) 2021 2020 2021 2020 Numerator used in basic and diluted net earnings per common share: Net income $ 17,195 $ 12,804 $ 55,936 $ 61,848 Denominator: Denominator for basic net earnings per common share - weighted-average shares 16,995 16,922 16,975 16,902 Effect of dilutive securities: Stock options and restricted stock units 52 53 62 45 Denominator for diluted net earnings per common share - weighted-average shares and assumed conversions 17,047 16,975 17,037 16,947 Net earnings per share Basic $ 1.01 $ 0.76 $ 3.30 $ 3.66 Diluted $ 1.01 $ 0.75 $ 3.28 $ 3.65

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Jan. 31, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract]
Stock-Based Compensation Expense Allocated	For the three and nine-month periods ended January 31, 2021 and 2020, stock-based compensation expense was allocated as follows: Three Months Ended Nine Months Ended (in thousands) 2021 2020 2021 2020 Cost of sales and distribution $ 426 $ 224 $ 1,134 $ 716 Selling and marketing expenses 365 240 698 713 General and administrative expenses 525 583 1,711 1,693 Stock-based compensation expense $ 1,316 $ 1,047 $ 3,543 $ 3,122

Customer Receivables (Tables)

Customer Receivables (Tables)	9 Months Ended
	Jan. 31, 2021
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Components of Customer Receivables	The components of customer receivables were: January 31, April 30, (in thousands) 2021 2020 Gross customer receivables $ 156,732 $ 112,528 Less: Allowance for doubtful accounts (371) (472) Allowance for returns and discounts (8,527) (5,712) Net customer receivables $ 147,834 $ 106,344

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Jan. 31, 2021
Inventory, Net [Abstract]
Components of Inventories	The components of inventories were: January 31, April 30, (in thousands) 2021 2020 Raw materials $ 60,321 $ 51,460 Work-in-process 51,967 42,381 Finished goods 47,343 32,572 Total FIFO inventories 159,631 126,413 Reserve to adjust inventories to LIFO value (15,039) (14,577) Total inventories $ 144,592 $ 111,836

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	9 Months Ended
	Jan. 31, 2021
Property, Plant and Equipment [Abstract]
Components Of Property, Plant And Equipment	The components of property, plant and equipment were: January 31, April 30, (in thousands) 2021 2020 Land $ 4,431 $ 4,431 Buildings and improvements 115,515 120,819 Buildings and improvements - finance leases 11,636 11,636 Machinery and equipment 309,152 312,806 Machinery and equipment - finance leases 31,440 30,911 Construction in progress 19,608 8,164 491,782 488,767 Less accumulated amortization and depreciation (290,897) (284,943) Total $ 200,885 $ 203,824

Intangibles (Tables)

Intangibles (Tables)	9 Months Ended
	Jan. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Components of Intangible Assets	The components of customer relationship intangibles were: January 31, April 30, (in thousands) 2021 2020 Customer relationship intangibles $ 274,000 $ 274,000 Less accumulated amortization (140,806) (106,556) Total $ 133,194 $ 167,444 The components of trademarks were: January 31, April 30, (in thousands) 2021 2020 Trademarks $ 10,000 $ 10,000 Less accumulated amortization (10,000) (7,778) Total $ — $ 2,222

Product Warranty (Tables)

Product Warranty (Tables)	9 Months Ended
	Jan. 31, 2020
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: Nine Months Ended January 31, (in thousands) 2021 2020 Beginning balance at May 1 $ 3,753 $ 4,616 Accrual 13,885 17,132 Settlements (13,150) (17,611) Ending balance at January 31 $ 4,488 $ 4,137

Pension Benefits (Tables)

Pension Benefits (Tables)	9 Months Ended
	Jan. 31, 2021
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 nine-month periods ended January 31, 2021 and 2020: Three Months Ended Nine Months Ended January 31, January 31, (in thousands) 2021 2020 2021 2020 Interest cost $ 1,165 $ 1,493 $ 3,496 $ 4,480 Expected return on plan assets (2,107) (2,082) (6,322) (6,245) Recognized net actuarial loss 441 423 1,321 1,269 Net periodic pension benefit $ (501) $ (166) $ (1,505) $ (496)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Jan. 31, 2021
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 January 31, 2021 and April 30, 2020 at fair value on a recurring basis (in thousands): Fair Value Measurements As of January 31, 2021 Level 1 Level 2 Level 3 ASSETS: Mutual funds $ 659 $ — $ — Foreign exchange forward contracts — 618 — Total assets at fair value $ 659 $ 618 $ — 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)	9 Months Ended
	Jan. 31, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table disaggregates our consolidated revenue by major sales distribution channels for the three- and nine-months ended January 31, 2021 and 2020: Three Months Ended Nine Months Ended January 31, January 31, (in thousands) 2021 2020 2021 2020 Home center retailers $ 216,819 $ 191,544 $ 613,932 $ 579,443 Builders 161,113 155,169 496,503 512,513 Independent dealers and distributors 54,022 49,042 160,189 159,180 Net Sales $ 431,954 $ 395,755 $ 1,270,624 $ 1,251,136

Concentration of Risk (Tables)

Concentration of Risk (Tables)	9 Months Ended
	Jan. 31, 2021
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 nine-months ended January 31, 2021 and 2020: Three Months Ended Nine Months Ended January 31, January 31, 2021 2020 2021 2020 Customer A 31.8% 30.1% 30.1% 29.2% Customer B 18.4% 18.3% 18.2% 17.2%

Leases (Tables)

Leases (Tables)	9 Months Ended
	Jan. 31, 2021
Leases [Abstract]
Components of Lease Costs and Additional Information	The components of lease costs were as follows: Nine Months Ended January 31, (in thousands) 2021 2020 Finance lease cost: Reduction in the carrying value of right-of-use assets $ 403 $ 1,922 Interest on lease liabilities 50 157 Operating lease cost 20,252 19,462 Additional information related to leases was as follows: Nine Months Ended January 31, (in thousands) 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for finance leases $ 50 $ 157 Operating cash flows for operating leases 18,161 16,731 Financing cash flows for financing leases 384 1,883 Right-of-use assets obtained in exchange for new finance lease liabilities 1,531 1,399 Right-of-use assets obtained in exchange for new operating lease liabilities 6,886 29,622 Weighted average remaining lease term (years) Weighted average remaining lease term - finance leases 3.06 3.44 Weighted average remaining lease term - operating leases 6.89 6.38 Weighted average discount rate Weighted average discount rate - finance leases 3.00 % 3.20 % Weighted average discount rate - operating leases 3.29 % 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 January 31, 2021: (in thousands) Operating leases Financing leases Year ending April 30, 2021 $ 6,036 $ 639 2022 21,984 1,966 2023 21,009 1,500 2024 19,101 1,137 2025 16,902 325 Thereafter 57,709 95 Total lease payments 142,741 5,662 Less imputed interest (15,367) (240) Total lease liability 127,374 5,422 Current maturities (18,435) (2,044) Lease liability - long-term $ 108,939 $ 3,378 Lease assets $ 121,600 $ 9,915
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 January 31, 2021: (in thousands) Operating leases Financing leases Year ending April 30, 2021 $ 6,036 $ 639 2022 21,984 1,966 2023 21,009 1,500 2024 19,101 1,137 2025 16,902 325 Thereafter 57,709 95 Total lease payments 142,741 5,662 Less imputed interest (15,367) (240) Total lease liability 127,374 5,422 Current maturities (18,435) (2,044) Lease liability - long-term $ 108,939 $ 3,378 Lease assets $ 121,600 $ 9,915

Restructuring Charges Restructu

Restructuring Charges Restructuring Charges (Tables)	9 Months Ended
	Jan. 31, 2021
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 January 31, 2021 which relates to employee termination costs accrued but not yet paid as follows: January 31, (in thousands) 2021 Restructuring reserve balance at May 1 $ 189 Expense 1,746 Payments and adjustments (1,767) Restructuring reserve balance at January 31 $ 168

Basis of Presentation (Details)

Basis of Presentation (Details)	3 Months Ended		9 Months Ended
	Jan. 31, 2021USD ($)$ / $	Jan. 31, 2020USD ($)	Jan. 31, 2021USD ($)$ / $	Jan. 31, 2020USD ($)
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	128,800,000		128,800,000
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	$ 600,000		$ 600,000
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 | $ / $	22.12		22.12
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	Jan. 31, 2021	Apr. 30, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets	$ 121,600	$ 127,668
Operating lease liabilities	$ 127,374

Net Earnings Per Share (Schedul

Net Earnings Per Share (Schedule of Earnings Per Share, Basic and Diluted) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Jan. 31, 2021	Oct. 31, 2020	Jul. 31, 2020	Jan. 31, 2020	Oct. 31, 2019	Jul. 31, 2019	Jan. 31, 2021	Jan. 31, 2020
Earnings Per Share [Abstract]
Net income	$ 17,195	$ 22,256	$ 16,485	$ 12,804	$ 22,163	$ 26,881	$ 55,936	$ 61,848
Denominator for basic net earnings per common share - weighted-average shares	16,994,975			16,922,231			16,974,701	16,902,255
Effect of dilutive securities:
Stock options and restricted stock units	52,000			53,000			62,000	45,000
Diluted (in shares)	17,047,211			16,974,956			17,036,586	16,947,449
Net earnings per share
Basic (in usd per share)	$ 1.01			$ 0.76			$ 3.30	$ 3.66
Diluted (in usd per share)	$ 1.01			$ 0.75			$ 3.28	$ 3.65

Net Earnings Per Share (Narrati

Net Earnings Per Share (Narrative) (Details) - shares	3 Months Ended		9 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2021	Jan. 31, 2020
Earnings Per Share [Abstract]
Stock excluded from the calculation of net earnings per share (shares)	0	0	0	0

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2021	Jan. 31, 2020	Apr. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 1,316	$ 1,047	$ 3,543	$ 3,122
Liability for payment of the RSTUs	$ 66,660		$ 66,660		$ 49,064
Employee Service-Based RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awarded in period (shares)			75,206
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	$ 600	$ 400
Liability for payment of the RSTUs	$ 800		$ 800		$ 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		9 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2021	Jan. 31, 2020
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 1,316	$ 1,047	$ 3,543	$ 3,122
Cost of Sales and Distribution [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	426	224	1,134	716
Selling and Marketing Expenses [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	365	240	698	713
General and Administrative Expenses [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 525	$ 583	$ 1,711	$ 1,693

Customer Receivables (Component

Customer Receivables (Components Of Customer Receivables ) (Details) - USD ($) $ in Thousands	Jan. 31, 2021	Apr. 30, 2020
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Gross customer receivables	$ 156,732	$ 112,528
Less:
Allowance for doubtful accounts	(371)	(472)
Allowance for returns and discounts	(8,527)	(5,712)
Net customer receivables	$ 147,834	$ 106,344

Inventories (Components Of Inve

Inventories (Components Of Inventories) (Details) - USD ($) $ in Thousands	Jan. 31, 2021	Apr. 30, 2020
Inventory, Net [Abstract]
Raw materials	$ 60,321	$ 51,460
Work-in-process	51,967	42,381
Finished goods	47,343	32,572
Total FIFO inventories	159,631	126,413
Reserve to adjust inventories to LIFO value	(15,039)	(14,577)
Total inventories	144,592	111,836
Inventory carried under FIFO	88,300	66,000
Inventory carried under LIFO	$ 56,300	$ 45,800

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2021	Jan. 31, 2020	Apr. 30, 2020
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 491,782		$ 491,782		$ 488,767
Less accumulated amortization and depreciation	(290,897)		(290,897)		(284,943)
Property, Plant and Equipment, Net, Total	200,885		200,885		203,824
Amortization and depreciation expense on property, plant and equipment	10,300	$ 9,300	32,500	$ 27,600
Accumulated amortization on capital leases	33,200		33,200		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	115,515		115,515		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	309,152		309,152		312,806
Machinery and equipment - finance leases
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	31,440		31,440		30,911
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 19,608		19,608		$ 8,164
Manufacturing Facility
Property, Plant and Equipment [Line Items]
Amortization and depreciation expense on property, plant and equipment			$ 1,300

Intangibles (Schedule of Intang

Intangibles (Schedule of Intangible Assets) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2021	Jan. 31, 2020	Apr. 30, 2020
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 12,000	$ 12,300	$ 36,500	$ 36,800
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Intangibles, gross	274,000		274,000		$ 274,000
Less accumulated amortization	(140,806)		(140,806)		(106,556)
Intangibles, net	133,194		133,194		167,444
Trademarks
Finite-Lived Intangible Assets [Line Items]
Intangibles, gross	10,000		10,000		10,000
Less accumulated amortization	(10,000)		(10,000)		(7,778)
Intangibles, net	$ 0		$ 0		$ 2,222

Intangibles (Narrative) (Detail

Intangibles (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2021	Jan. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 12,000	$ 12,300	$ 36,500	$ 36,800
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	9 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
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	13,885	17,132
Settlements	(13,150)	(17,611)
Ending balance	$ 4,488	$ 4,137

Pension Benefits (Net Periodic

Pension Benefits (Net Periodic Pension Cost) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2021	Jan. 31, 2020
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]
Interest cost	$ 1,165	$ 1,493	$ 3,496	$ 4,480
Expected return on plan assets	(2,107)	(2,082)	(6,322)	(6,245)
Recognized net actuarial loss	441	423	1,321	1,269
Net periodic pension benefit	$ (501)	$ (166)	$ (1,505)	$ (496)

Pension Benefits (Narrative) (D

Pension Benefits (Narrative) (Details) $ in Thousands	Dec. 30, 2020USD ($)	Oct. 31, 2020plan	Jan. 31, 2021USD ($)	Apr. 30, 2020USD ($)plan
Defined Benefit Plan Disclosure [Line Items]
Number of defined benefit pension plans | plan		2		1
Pension contribution			$ 0	$ 500
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Expected termination costs	$ 1,600

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value Of Assets On Recurring Basis) (Details) - USD ($) $ in Thousands	Jan. 31, 2021	Apr. 30, 2020
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	$ 659
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	618
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	618
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	659	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 ($)	Jan. 31, 2021USD ($)	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		1.91
Fixed charge coverage ratio		6.50
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		82,000,000	$ 122,000,000
Loans Payable [Member] | Delayed Draw Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	250,000,000
Loans Payable [Member] | Initial Term Loan and Delayed Draw Loan [Member]
Debt Instrument [Line Items]
Outstanding on the Initial Term Loan		164,000,000	$ 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		360,500,000
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
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)	3 Months Ended		9 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2021	Jan. 31, 2020
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	25.60%	25.90%	25.90%	26.00%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	21.00%	21.00%	21.00%

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2021	Jan. 31, 2020
Disaggregation of Revenue [Line Items]
Net sales	$ 431,954	$ 395,755	$ 1,270,624	$ 1,251,136
Home center retailers
Disaggregation of Revenue [Line Items]
Net sales	216,819	191,544	613,932	579,443
Builders
Disaggregation of Revenue [Line Items]
Net sales	161,113	155,169	496,503	512,513
Independent dealers and distributors
Disaggregation of Revenue [Line Items]
Net sales	$ 54,022	$ 49,042	$ 160,189	$ 159,180

Concentration of Risk (Details)

Concentration of Risk (Details)	3 Months Ended		9 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2021	Jan. 31, 2020
Customer receivables | Customer A
Concentration Risk [Line Items]
Concentration risk (as a percent)			32.90%	30.30%
Customer receivables | Customer B
Concentration Risk [Line Items]
Concentration risk (as a percent)			21.10%	24.50%
Sales revenue, gross | Customer A
Concentration Risk [Line Items]
Concentration risk (as a percent)	31.80%	30.10%	30.10%	29.20%
Sales revenue, gross | Customer B
Concentration Risk [Line Items]
Concentration risk (as a percent)	18.40%	18.30%	18.20%	17.20%

Leases - Components of Lease Co

Leases - Components of Lease Costs (Details) - USD ($) $ in Thousands	9 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Finance lease cost:
Reduction in the carrying value of right-of-use assets	$ 403	$ 1,922
Interest on lease liabilities	50	157
Operating lease cost	$ 20,252	$ 19,462

Leases - Additional Information

Leases - Additional Information Related to Leases (Details) - USD ($)	9 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Cash Paid For Amounts Included In The Measurement Of Lease Liabilities [Abstract]
Operating cash flows for finance leases	$ 50,000	$ 157,000
Operating cash flows for operating leases	18,161,000	16,731,000
Financing cash flows for financing leases	384,000	1,883,000
Right-of-use assets obtained in exchange for new finance lease liabilities	1,531	1,399
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 6,886	$ 29,622
Weighted average remaining lease term (years)
Weighted average remaining lease term - finance leases	3 years 21 days	3 years 5 months 8 days
Weighted average remaining lease term - operating leases	6 years 10 months 20 days	6 years 4 months 17 days
Weighted average discount rate
Weighted average discount rate - finance leases (as a percent)	3.00%	3.20%
Weighted average discount rate - operating leases (as a percent)	3.29%	4.26%

Leases - Reconciliation of Futu

Leases - Reconciliation of Future Undiscounted Cash Flows to Operating and Finance Leases (Details) - USD ($) $ in Thousands	Jan. 31, 2021	Apr. 30, 2020
Operating leases
2021	$ 6,036
2022	21,984
2023	21,009
2024	19,101
2025	16,902
Thereafter	57,709
Total lease payments	142,741
Less imputed interest	(15,367)
Operating lease liabilities	127,374
Current maturities	(18,435)	$ (18,896)
Long-term lease liability - operating	108,939	112,454
Lease assets	121,600	$ 127,668
Financing leases
2021	639
2022	1,966
2023	1,500
2024	1,137
2025	325
Thereafter	95
Total lease payments	5,662
Less imputed interest	(240)
Finance Lease, Liability	5,422
Current maturities	(2,044)
Lease liability - long-term	3,378
Lease assets	$ 9,915

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2021	Jan. 31, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring charges, net	$ (847)	$ 0	$ 5,404	$ (207)
Manufacturing Plant Closure
Restructuring Cost and Reserve [Line Items]
Restructuring charges, net	(700)		3,900
Facility Closing | Discontinued Operations, Disposed of by Sale | Humboldt Facility
Restructuring Cost and Reserve [Line Items]
Gain (Loss) on Disposition of Business	2,300
Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring charges, net	1,746
Employee Severance | Nationwide Reductions In Force
Restructuring Cost and Reserve [Line Items]
Restructuring charges, net	$ (100)		1,500
Employee Severance | Manufacturing Plant Closure
Restructuring Cost and Reserve [Line Items]
Restructuring charges, net			900
Other Restructuring | Manufacturing Plant Closure
Restructuring Cost and Reserve [Line Items]
Restructuring charges, net			$ 3,000

Restructuring - Restructuring C

Restructuring - Restructuring Charges Reserve (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2021	Jan. 31, 2020
Restructuring Reserve [Roll Forward]
Expense	$ (847)	$ 0	$ 5,404	$ (207)
Employee Severance
Restructuring Reserve [Roll Forward]
Restructuring reserve balance at May 1			189
Expense	1,746
Payments and adjustments	(1,767)
Restructuring reserve balance at January 31	$ 168		$ 168