Income Taxes (Tables)

12 Months Ended

Apr. 30, 2020

Income Tax Disclosure [Abstract]

Schedule Of Income Tax Expense

Income tax expense was comprised of the following:

	FISCAL YEARS ENDED APRIL 30
(in thousands)	2020			2019			2018
CURRENT EXPENSE
Federal	$	29,072		$	25,649		$	8,668
State	7,581			8,231			1,290
Foreign	533			1,125			257
Total current expense	37,186			35,005			10,215
DEFERRED EXPENSE
Federal	(7,167		)	(4,498		)	17,833
State	(4,190		)	(3,266		)	3,642
Foreign	(142		)	(41		)	(71		)
Total deferred (benefit) expense	(11,499		)	(7,805		)	21,404
Total expense	25,687			27,200			31,619
Other comprehensive income (loss)	(573		)	190			50
Total comprehensive income tax expense	$	25,114		$	27,390		$	31,669

Schedule Of Effective Income Tax Rate Reconciliation

The Company's effective income tax rate varied from the federal statutory rate as follows: 

	FISCAL YEARS ENDED APRIL 30
	2020		2019		2018
Federal statutory rate	21.0	%	21.0	%	30.4	%
Effect of:
Federal income tax credits	(0.9	)%	(1.4	)%	(0.5	)%
Acquisition and integration costs	—		—		1.2
Stock compensation	(0.1	)	(0.5	)	(2.4	)
Meals and entertainment	0.3		0.3		0.3
Effect of Tax Act	—		(1.1	)	1.2
Domestic production deduction	—		—		(0.8	)
Valuation allowance for deferred taxes	0.7		0.6		—
Foreign	0.4		0.8		—
Other	0.7		1.2		0.4
Total	1.1	%	(0.1	)%	(0.6	)%
Effective federal income tax rate	22.1	%	20.9	%	29.8	%
State income taxes, net of federal tax effect	3.4		3.6		3.6
Effective income tax rate	25.5	%	24.5	%	33.4	%

Schedule Of Significant Components Of Deferred Tax Assets And Liabilities

The significant components of deferred tax assets and liabilities were as follows:

	APRIL 30
(in thousands)	2020			2019
Deferred tax assets:
Accounts receivable	$	1,730		$	1,852
Product liability	862			2,133
Employee benefits	5,189			6,192
Tax credit carryforwards	4,995			4,439
Operating leases	33,258			—
Other	4,330			3,272
Gross deferred tax assets, before valuation allowance	50,364			17,888
Valuation allowance	(4,415		)	(3,630		)
Gross deferred tax assets, after valuation allowance	45,949			14,258
Deferred tax liabilities:
Pension benefits	—			119
Inventory	125			76
Depreciation	24,147			23,721
Intangibles	40,677			53,259
Operating leases	32,325			—
Other	695			1,059
Gross deferred tax liabilities	97,969			78,234
Net deferred tax liability	$	52,020		$	63,976

Schedule of Unrecognized Tax Benefits Roll Forward

The following table summarizes the activity related to unrecognized tax benefits, excluding the federal tax benefit of state tax deductions:

	APRIL 30
(in thousands)	2020		2019
Change in Unrecognized Tax Benefits
Balance at beginning of year	$	2,240	$	928
Additions based on tax positions related to the current year	65		120
Additions for tax positions of prior years	—		1,192
Balance at end of year	$	2,305	$	2,240