Income Taxes (Tables)

12 Months Ended

Apr. 30, 2023

Schedule of Components of Income Tax Expense (Benefit)

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


	Years ended April 30,
	2023		2022		2021
Current tax expense:
Federal	$	95,336	$	4,382	$	73,950
State	22,365		13,835		16,397
	117,701		18,217		90,347
Deferred tax expense	23,126		82,721		4,123
Total income tax expense	$	140,827	$	100,938	$	94,470

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,
	2023		2022
Deferred tax assets:
Accrued liabilities and reserves	$	7,031	$	11,699
Deferred revenue	15,565		11,893
Accrued bonus compensation	9,361		7,340
Workers compensation	11,500		9,922
Operating and finance lease obligations	52,464		46,693
Asset retirement obligations	9,404		7,361
Deferred compensation	3,242		3,540
Equity compensation	8,305		9,567

State net operating losses and tax credits	1,807		4,021
Other	3,551		3,548
Total gross deferred tax assets	122,230		115,584
Less valuation allowance	250		250
Total net deferred tax assets	121,980		115,334
Deferred tax liabilities:
Property and equipment depreciation	(617,154)		(597,740)
Goodwill	(43,900)		(34,869)
Other	(4,524)		(3,197)
Total gross deferred tax liabilities	(665,578)		(635,806)
Net deferred tax liability	$	(543,598)	$	(520,472)

Schedule of Effective Income Tax Rate Reconciliation


	Years ended April 30,
	2023		2022		2021
Income taxes at the statutory rates	21.0	%	21.0	%	21.0	%

Federal tax credits	(1.3)	%	(1.8)	%	(1.5)	%
State income taxes, net of federal tax benefit	4.0	%	3.8	%	3.5	%
Impact of phased-in state law changes, net of federal benefit	(0.4)	%	(0.8)	%	—	%
ASU 2016-09 benefit (stock-based compensation)	(0.3)	%	(1.0)	%	(0.6)	%
Nondeductible executive compensation	1.1	%	1.2	%	0.9	%
Other	(0.1)	%	0.5	%	(0.1)	%
	24.0	%	22.9	%	23.2	%

Schedule of Unrecognized Tax Benefits

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


	2023		2022
Beginning balance	$	10,259	$	9,316
Additions based on tax positions related to current year	2,867		2,953


Reductions due to lapse of applicable statute of limitations	(2,169)		(2,010)

Ending balance	$	10,957	$	10,259