Income Taxes (Tables)

12 Months Ended

Apr. 30, 2020

Schedule of Components of Income Tax Expense (Benefit)

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



	Years ended April 30,
	2020		2019		2018
Current tax expense (benefit):
Federal	$	22,182	$	10,326	(7,057	)
State	6,210		3,853		1,769
	28,392		14,179		(5,288	)
Deferred tax expense (benefit)	49,810		45,337		(98,178	)
Total income tax expense (benefit)	$	78,202	$	59,516	(103,466	)

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,
	2020			2019
Deferred tax assets:
Accrued liabilities and reserves	$	15,953		$	11,705
Property and equipment depreciation	27,512			24,661
Workers compensation	8,303			8,277
Deferred compensation	3,781			3,827
Equity compensation	7,083			6,727
State net operating losses & tax credits	424			775
Other	1,335			1,033
Total gross deferred tax assets	64,391			57,005
Less valuation allowance	47			47
Total net deferred tax assets	64,344			56,958
Deferred tax liabilities:
Property and equipment depreciation	(474,829		)	(420,710		)
Goodwill	(24,348		)	(21,560		)
Other	(765		)	(476		)
Total gross deferred tax liabilities	(499,942		)	(442,746		)
Net deferred tax liability	$	(435,598	)	(385,788		)

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,
	2020		2019		2018
Income taxes at the statutory rates	21.0	%	21.0	%	30.4	%
Impact of Tax Reform Act	—	%	0.4	%	(80.5	)%
Federal tax credits	(1.9	)%	(2.3	)%	(2.2	)%
State income taxes, net of federal tax benefit	4.0	%	4.3	%	3.7	%
Impact of phased-in state law changes, net of federal benefit	(0.2	)%	(1.8	)%	0.8	%
ASU 2016-09 benefit (share based compensation)	(0.5	)%	(0.6	)%	(0.8	)%
Other	0.5	%	1.6	%	0.3	%
	22.9	%	22.6	%	(48.3	)%

Schedule of Unrecognized Tax Benefits

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



	2020			2019
Beginning balance	$	7,287		$	6,421
Additions based on tax positions related to current year	2,780			2,169
Reductions due to lapse of applicable statute of limitations	(1,160		)	(1,303		)
Ending balance	$	8,907		$	7,287