Acquisitions

12 Months Ended

Apr. 30, 2012

Acquisitions [Abstract]

Acquisitions

2.ACQUISITIONS

During the year ended April 30, 2012, the Company acquired 35 stores through a variety of single store and multi-store transactions with several unrelated third parties. The acquisitions were recorded by allocating the cost of the assets acquired, including intangible assets and liabilities assumed, based on their estimated fair values at the acquisition date. The excess of the cost of the acquisition over the net amounts assigned to the fair value of the assets acquired and the liabilities assumed is recorded as goodwill. All of the goodwill associated with these transactions will be deductible for income tax purposes over 15 years.

Allocation of the purchase price for the transactions in aggregate is as follows (in thousands):

Assets acquired:
Inventories	$	2,947
Property and equipment		20,415
Total assets		23,362
Liabilities assumed:
Accrued expenses		282
Total liabilities		282
Net tangible assets acquired		23,080
Goodwill		16,364
Total consideration paid	$	39,444

The following unaudited pro forma information presents a summary of our consolidated results of operations as if the transactions referenced above occurred at the beginning of the fiscal year for each of the periods presented (amounts in thousands, except per share data):

		Years Ended April 30,
		2012	2011
Total revenue	$	7,021,256	5,790,215
Net earnings	$	117,727	99,138
Earnings per common share
Basic	$	3.09	2.34
Diluted	$	3.07	2.33