Income Taxes (Tables)

12 Months Ended

Apr. 30, 2019

Schedule of Components of Income Tax Expense (Benefit)

Income tax expense (benefit) attributable to earnings consisted of the following components:



	Years ended April 30,
	2019		2018			2017
Current tax expense (benefit):
Federal	$	10,326	$	(7,057	)	41,300
State	3,853		1,769			5,693
	14,179		(5,288		)	46,993
Deferred tax expense (benefit)	45,337		(98,178		)	45,190
Total income tax expense (benefit)	$	59,516	$	(103,466	)	92,183

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that gave rise to significant portions of the deferred tax assets and deferred tax liabilities were as follows:



	As of April 30,
	2019			2018
Deferred tax assets:
Accrued liabilities and reserves	$	11,705		$	7,978
Property and equipment depreciation	24,661			24,419
Workers compensation	8,277			7,244
Deferred compensation	3,827			3,846
Equity compensation	6,727			7,158
Federal net operating losses	—			2,769
State net operating losses & tax credits	775			2,336
Other	1,033			889
Total gross deferred tax assets	57,005			56,639
Less valuation allowance	47			47
Total net deferred tax assets	56,958			56,592
Deferred tax liabilities:
Property and equipment depreciation	(420,710		)	(378,756		)
Goodwill	(21,560		)	(19,548		)
Other	(476		)	(234		)
Total gross deferred tax liabilities	(442,746		)	(398,538		)
Net deferred tax liability	$	(385,788	)	(341,946		)

Schedule of Effective Income Tax Rate Reconciliation

Total reported tax expense applicable to the Company’s continuing operations varies from the tax that would have resulted from applying the statutory U.S. federal income tax rates to income before income taxes:



	Years ended April 30,
	2019		2018		2017
Income taxes at the statutory rates	21.0	%	30.4	%	35.0	%
Impact of Tax Reform Act	0.4	%	(80.5	)%	—	%
Federal tax credits	(2.3	)%	(2.2	)%	(1.8	)%
State income taxes, net of federal tax benefit	4.3	%	3.7	%	2.8	%
Impact of phased-in state law changes, net of federal benefit	(1.8	)%	0.8	%	—	%
ASU 2016-09 Benefit (share based compensation)	(0.6	)%	(0.8	)%	(1.3	)%
Other	1.6	%	0.3	%	(0.5	)%
	22.6	%	(48.3	)%	34.2	%

Schedule of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:



	2019			2018
Beginning balance	$	6,421		$	5,362
Additions based on tax positions related to current year	2,169			2,010
Additions for tax positions of prior years	—			322
Reductions for tax positions of prior years	—			—
Reductions due to lapse of applicable statute of limitations	(1,303		)	(1,273		)
Settlements	—			—
Ending balance	$	7,287		$	6,421