Income Taxes (Tables)

12 Months Ended

Apr. 30, 2018

Schedule of Components of Income Tax Expense (Benefit)

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



	Years ended April 30,
	2018			2017		2016
Current tax (benefit) expense:
Federal	$	(7,057	)	$	41,300	$	58,273
State	1,769			5,693		8,959
	(5,288		)	46,993		67,232
Deferred tax (benefit) expense	(98,178		)	45,190		55,492
Total income tax (benefit) expense	$	(103,466	)	$	92,183	$	122,724

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,
	2018			2017
Deferred tax assets:
Accrued liabilities and reserves	$	7,978		$	10,948
Property and equipment depreciation	24,419			16,604
Workers compensation	7,244			10,934
Deferred compensation	3,846			5,916
Equity compensation	7,158			6,923
Federal net operating losses	2,769			—
State net operating losses & tax credits	2,336			938
Other	889			1,275
Total gross deferred tax assets	56,639			53,538
Less valuation allowance	47			60
Total net deferred tax assets	56,592			53,478
Deferred tax liabilities:
Property and equipment depreciation	(378,756		)	(468,470		)
Goodwill	(19,548		)	(25,052		)
Other	(234		)	(80		)
Total gross deferred tax liabilities	(398,538		)	(493,602		)
Net deferred tax liability	$	(341,946	)	$	(440,124	)

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,
	2018		2017		2016
Income taxes at the statutory rates	30.4	%	35.0	%	35.0	%
Impact of Tax Reform Act	(80.5	)%	—	%	—	%
Federal tax credits	(2.2	)%	(1.8	)%	(1.7	)%
State income taxes, net of federal tax benefit	3.7	%	2.8	%	2.7	%
ASU 2016-09 Benefit (share based compensation)	(0.8	)%	(1.3	)%	—	%
Other	1.1	%	(0.5	)%	(0.8	)%
	(48.3	)%	34.2	%	35.2	%

Schedule of Unrecognized Tax Benefits

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



	2018			2017
Beginning balance	$	5,362		$	6,484
Additions based on tax positions related to current year	2,010			1,705
Additions for tax positions of prior years	322			—
Reductions for tax positions of prior years	—			—
Reductions due to lapse of applicable statute of limitations	(1,273		)	(2,827		)
Settlements	—			—
Ending balance	$	6,421		$	5,362