Income Taxes (Tables)

12 Months Ended

Apr. 30, 2022

Schedule of Components of Income Tax Expense (Benefit)

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


	Years ended April 30,
	2022		2021		2020
Current tax expense:
Federal	$	4,382	$	73,950	22,182
State	13,835		16,397		6,210
	18,217		90,347		28,392
Deferred tax expense	82,721		4,123		49,810
Total income tax expense	$	100,938	$	94,470	78,202

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,
	2022		2021
Deferred tax assets:
Accrued liabilities and reserves	$	30,932	$	29,583

Workers compensation	9,922		9,000
Operating and finance lease obligations	46,693		9,186
Asset retirement obligations	7,361		6,294
Deferred compensation	3,540		4,221
Equity compensation	9,567		9,131

State net operating losses & tax credits	4,021		928
Other	3,548		3,068
Total gross deferred tax assets	115,584		71,411
Less valuation allowance	250		—
Total net deferred tax assets	115,334		71,411
Deferred tax liabilities:
Property and equipment depreciation	(597,740)		(484,065)
Goodwill	(34,869)		(27,047)
Other	(3,197)		(20)
Total gross deferred tax liabilities	(635,806)		(511,132)
Net deferred tax liability	$	(520,472)	(439,721)

Schedule of Effective Income Tax Rate Reconciliation


	Years ended April 30,
	2022		2021		2020
Income taxes at the statutory rates	21.0	%	21.0	%	21.0	%

Federal tax credits	(1.8)	%	(1.5)	%	(1.9)	%
State income taxes, net of federal tax benefit	3.8	%	3.5	%	4.0	%
Impact of phased-in state law changes, net of federal benefit	(0.8)	%	—	%	(0.2)	%
ASU 2016-09 benefit (stock-based compensation)	(1.0)	%	(0.6)	%	(0.5)	%
Other	1.7	%	0.8	%	0.5	%
	22.9	%	23.2	%	22.9	%

Schedule of Unrecognized Tax Benefits

is as follows:


	2022		2021
Beginning balance	$	9,316	$	8,907
Additions based on tax positions related to current year	2,953		2,356


Reductions due to lapse of applicable statute of limitations	(2,010)		(1,947)

Ending balance	$	10,259	$	9,316